Net Income Per Common Share and Net Income Per Common Unit (Tables)

12 Months Ended

Dec. 31, 2017

Net Income Per Share and Net Income Per Unit [Line Items]

Net Income Per Common Share and Net Income Per Unit

Basic and diluted income per share is calculated as follows for the years ended December 31 ($ in thousands, except share and per share amounts):

	2017				2016				2015
	Income	Weighted- average Common Shares	Per Common Share Amount		Income	Weighted- average Common Shares	Per Common Share Amount		Income	Weighted- average Common Shares	Per Common Share Amount
Basic:
Net income available to common stockholders	433,059	65,829,155	$	6.58	411,124	65,471,540	$	6.28	226,865	64,871,717	$	3.50
Effect of Dilutive Securities
Stock options	—	69,100			—	116,276			—	189,968
Diluted:
Net income available to common stockholders	433,059	65,898,255	$	6.57	411,124	65,587,816	$	6.27	226,865	65,061,685	$	3.49

The table above excludes from the calculations of diluted earnings per share weighted average convertible OP Units of 2,252,575, 2,224,100, and 2,182,467, which include vested Series Z Incentive Units, Series Z-1 Incentive Units, 2014 Long-Term Incentive Plan Units, and 2015 Long-Term Incentive Plan Units, for the years ended December 31, 2017, 2016 and 2015, respectively, because they were anti-dilutive. The related income allocated to these convertible OP Units aggregated $14.8 million, $14.1 million, and $7.8 million for the years ended December 31, 2017, 2016, and 2015, respectively. Additionally, the table excludes all DownREIT limited partnership units for which the Operating Partnership has the ability and intention to redeem the units for cash and does not consider them to be common stock equivalents.

Essex Portfolio, L.P. [Member]

Net Income Per Share and Net Income Per Unit [Line Items]

Net Income Per Common Share and Net Income Per Unit

Basic and diluted income per unit is calculated as follows for the years ended December 31 ($ in thousands, except unit and per unit amounts):

	2017					2016					2015
	Income		Weighted- average Common Units	Per Common Unit Amount		Income		Weighted- average Common Units	Per Common Unit Amount		Income		Weighted- average Common Units	Per Common Unit Amount
Basic:
Net income available to common unitholders	$	447,884	68,081,730	$	6.58	$	425,213	67,695,640	$	6.28	$	234,689	67,054,184	$	3.50
Effect of Dilutive Securities
Stock options	—		69,100			—		116,276			—		189,968
Diluted:
Net income available to common unitholders	$	447,884	68,150,830	$	6.57	$	425,213	67,811,916	$	6.27	$	234,689	67,244,152	$	3.49