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

12 Months Ended

Dec. 31, 2023

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):

	2023					2022					2021
	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	$	405,825	64,252,232	$	6.32	$	408,315	65,079,764	$	6.27	$	488,554	65,051,465	$	7.51
Effect of dilutive securities
Stock options	—		1,153			—		18,422			—		37,409
Diluted:
Net income available to common stockholders	$	405,825	64,253,385	$	6.32	$	408,315	65,098,186	$	6.27	$	488,554	65,088,874	$	7.51

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):

	2023					2022					2021
	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	$	420,109	66,513,303	$	6.32	$	422,612	67,356,105	$	6.27	$	505,745	67,340,856	$	7.51
Effect of dilutive securities
Stock options	—		1,153			—		18,422			—		37,409
Diluted:
Net income available to common unitholders	$	420,109	66,514,456	$	6.32	$	422,612	67,374,527	$	6.27	$	505,745	67,378,265	$	7.51