Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (amounts in thousands except per share amounts):


	Three Months Ended March 31,
	2020		2019
Numerator for earnings per common share - basic:
Net income	$	425,507	$	210,597
Net income attributable to noncontrolling interest	(748)		(79)
Preferred distributions	(1,997)		(1,997)


Numerator for net income per share - basic	$	422,762	$	208,521

Numerator for earnings per common share - diluted:
Net income	$	425,507	$	210,597
Net income attributable to noncontrolling interests	(748)		(79)


Numerator for net income per share - diluted	$	424,759	$	210,518

Denominator for earnings per common share - basic and diluted:
Weighted average number of common shares outstanding - basic(1)	122,148		121,960
RSUs(2)	1,524		1,124
LTIP Units(3)	76		175

Series D preferred shares; 6.50% cumulative convertible	2,857		2,563
Weighted average number of common shares outstanding - diluted	126,605		125,822

Net income per common share attributable to Equity Commonwealth common shareholders:
Basic	$	3.46	$	1.71
Diluted	$	3.35	$	1.67

Anti-dilutive securities:


Effect of LTIP Units	89		42
Effect of OP Units(4)	73		4

(1) The three months ended March 31, 2020 and 2019, include 177 and 187 weighted-average, unvested, earned RSUs, respectively.

(2) Represents weighted-average number of common shares that would have been issued if the quarter-end was the measurement date for unvested, unearned RSUs.

(3) Represents the weighted-average dilutive shares issuable from LTIP Units if the quarter-end was the measurement date for the periods shown.

(4) Beneficial interests in the Operating Trust.