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

12 Months Ended

Dec. 31, 2022

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

Schedule of 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):

	2022					2021					2020
	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	$	408,315	65,079,764	$	6.27	$	488,554	65,051,465	$	7.51	$	568,870	65,454,057	$	8.69
Effect of Dilutive Securities
Stock options			18,422			—		37,409			—		16,678
DownREIT units	—		—			—		—			783		94,247
Diluted:
Net income available to common stockholders	$	408,315	65,098,186	$	6.27	$	488,554	65,088,874	$	7.51	$	569,653	65,564,982	$	8.69

Essex Portfolio, L.P.

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

Schedule of 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):

	2022					2021					2020
	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	$	422,612	67,356,105	$	6.27	$	505,745	67,340,856	$	7.51	$	588,782	67,750,665	$	8.69
Effect of Dilutive Securities
Stock options	—		18,422			—		37,409			—		16,678
DownREIT units	—		—			—		—			783		94,247
Diluted:
Net income available to common unitholders	$	422,612	67,374,527	$	6.27	$	505,745	67,378,265	$	7.51	$	589,565	67,861,590	$	8.69