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Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share And Earnings Per Unit [Text Block]
Earnings Per Share and Earnings Per Unit

Equity Residential
The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts):

 
Year Ended December 31,
 
2012
 
2011
 
2010
Numerator for net income per share – basic:
 

 
 

 
 

Income (loss) from continuing operations
$
311,555

 
$
57,794

 
$
(103,108
)
Allocation to Noncontrolling Interests – Operating Partnership, net
(13,178
)
 
(1,912
)
 
5,419

Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties
(844
)
 
(832
)
 
726

Preferred distributions
(10,355
)
 
(13,865
)
 
(14,368
)
Premium on redemption of Preferred Shares
(5,152
)
 
—

 
—

Income (loss) from continuing operations available to Common Shares, net of
  Noncontrolling Interests
282,026

 
41,185

 
(111,331
)
Discontinued operations, net of Noncontrolling Interests
544,186

 
838,535

 
380,573

Numerator for net income per share – basic
$
826,212

 
$
879,720

 
$
269,242

Numerator for net income per share – diluted (1):
 
 
 
 
 
Income from continuing operations
$
311,555

 
$
57,794

 
 
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties
(844
)
 
(832
)
 
 
Preferred distributions
(10,355
)
 
(13,865
)
 
 
Premium on redemption of Preferred Shares
(5,152
)
 
—

 
 
Income from continuing operations available to Common Shares
295,204

 
43,097

 
 
Discontinued operations, net
569,649

 
877,403

 
 
Numerator for net income per share – diluted (1)
$
864,853

 
$
920,500

 
$
269,242

Denominator for net income per share – basic and diluted (1):
 
 
 
 
 
Denominator for net income per share – basic
302,701

 
294,856

 
282,888

Effect of dilutive securities:
 
 
 
 
 
OP Units
13,853

 
13,206

 
 
Long-term compensation shares/units
3,212

 
4,003

 
 
Denominator for net income per share – diluted (1)
319,766

 
312,065

 
282,888

Net income per share – basic
$
2.73

 
$
2.98

 
$
0.95

Net income per share – diluted
$
2.70

 
$
2.95

 
$
0.95

Net income per share – basic:
 

 
 

 
 

Income (loss) from continuing operations available to Common Shares, net of
  Noncontrolling Interests
$
0.932

 
$
0.140

 
$
(0.393
)
Discontinued operations, net of Noncontrolling Interests
1.797

 
2.844

 
1.345

Net income per share – basic
$
2.729

 
$
2.984

 
$
0.952

Net income per share – diluted (1):
 

 
 

 
 

Income (loss) from continuing operations available to Common Shares
$
0.923

 
$
0.138

 
$
(0.393
)
Discontinued operations, net
1.782

 
2.812

 
1.345

Net income per share – diluted
$
2.705

 
$
2.950

 
$
0.952

Distributions declared per Common Share outstanding
$
1.78

 
$
1.58

 
$
1.47



(1)
Potential common shares issuable from the assumed conversion of OP Units and the exercise/vesting of long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per share calculation as the Company had a loss from continuing operations for the year ended December 31, 2010.
Convertible preferred shares/units that could be converted into 0, 0 and 325,103 weighted average Common Shares for the years ended December 31, 2012, 2011 and 2010, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effects would be anti-dilutive. In addition, the effect of the Common Shares that could ultimately be issued upon the conversion/exchange of the Company’s $650.0 million exchangeable senior notes ($482.5 million outstanding were redeemed on August 18, 2011) was not included in the computation of diluted earnings per share because the effects would be anti-dilutive.
For additional disclosures regarding the employee share options and restricted shares, see Notes 2 and 12.
ERP Operating Limited Partnership
The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts):

 
Year Ended December 31,
 
2012
 
2011
 
2010
Numerator for net income per Unit – basic and diluted (1):
 

 
 

 
 

Income (loss) from continuing operations
$
311,555

 
$
57,794

 
$
(103,108
)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties
(844
)
 
(832
)
 
726

Allocation to Preference Units
(10,355
)
 
(13,865
)
 
(14,368
)
Allocation to premium on redemption of Preference Units
(5,152
)
 
—

 
—

Income (loss) from continuing operations available to Units
295,204

 
43,097

 
(116,750
)
Discontinued operations, net
569,649

 
877,403

 
399,091

Numerator for net income per Unit – basic and diluted (1)
$
864,853

 
$
920,500

 
$
282,341

Denominator for net income per Unit – basic and diluted (1):
 
 
 
 
 
Denominator for net income per Unit – basic
316,554

 
308,062

 
296,527

Effect of dilutive securities:
 
 
 
 
 
Dilution for Units issuable upon assumed exercise/vesting of the Company's
    long-term compensation shares/units
3,212

 
4,003

 
 
Denominator for net income per Unit – diluted (1)
319,766

 
312,065

 
296,527

Net income per Unit – basic
$
2.73

 
$
2.98

 
$
0.95

Net income per Unit – diluted
$
2.70

 
$
2.95

 
$
0.95

Net income per Unit – basic:
 

 
 

 
 

Income (loss) from continuing operations available to Units
$
0.932

 
$
0.140

 
$
(0.393
)
Discontinued operations, net
1.797

 
2.844

 
1.345

Net income per Unit – basic
$
2.729

 
$
2.984

 
$
0.952

Net income per Unit – diluted (1):
 

 
 

 
 

Income (loss) from continuing operations available to Units
$
0.923

 
$
0.138

 
$
(0.393
)
Discontinued operations, net
1.782

 
2.812

 
1.345

Net income per Unit – diluted
$
2.705

 
$
2.950

 
$
0.952

Distributions declared per Unit outstanding
$
1.78

 
$
1.58

 
$
1.47



(1)
Potential Units issuable from the assumed exercise/vesting of the Company's long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per Unit calculation as the Operating Partnership had a loss from continuing operations for the year ended December 31, 2010.
Convertible preference interests/units that could be converted into 0, 0 and 325,103 weighted average Common Shares (which would be contributed to the Operating Partnership in exchange for OP Units) for the years ended December 31, 2012, 2011 and 2010, respectively, were outstanding but were not included in the computation of diluted earnings per Unit because the effects would be anti-dilutive. In addition, the effect of the Common Shares/OP Units that could ultimately be issued upon the conversion/exchange of the Company's $650.0 million exchangeable senior notes ($482.5 million outstanding were redeemed on August 18, 2011) was not included in the computation of diluted earnings per Unit because the effects would be anti-dilutive.
For additional disclosures regarding the employee share options and restricted shares, see Notes 2 and 12.