Earnings Per Share and Earnings Per Unit

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share And Earnings Per Unit

10.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):

	Quarter Ended March 31,
	2025			2024
Numerator for net income per share – basic:
Net income	$	264,798		$	305,032
Allocation to Noncontrolling Interests – Operating Partnership		(7,102	)		(8,275	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,104	)		(970	)
Preferred distributions		(356	)		(547	)
Premium on redemption of Preferred Shares		—			(1,444	)
Numerator for net income per share – basic	$	256,236		$	293,796
Numerator for net income per share – diluted:
Net income	$	264,798		$	305,032
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,104	)		(970	)
Preferred distributions		(356	)		(547	)
Premium on redemption of Preferred Shares		—			(1,444	)
Numerator for net income per share – diluted	$	263,338		$	302,071
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		379,208			378,812
Effect of dilutive securities:
OP Units		10,511			10,669
Long-term compensation shares/units		1,460			1,080
Denominator for net income per share – diluted		391,179			390,561
Net income per share – basic	$	0.68		$	0.78
Net income per share – diluted	$	0.67		$	0.77

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):

	Quarter Ended March 31,
	2025			2024
Numerator for net income per Unit – basic and diluted:
Net income	$	264,798		$	305,032
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,104	)		(970	)
Allocation to Preference Units		(356	)		(547	)
Allocation to premium on redemption of Preference Units		—			(1,444	)
Numerator for net income per Unit – basic and diluted	$	263,338		$	302,071
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		389,719			389,481
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		1,460			1,080
Denominator for net income per Unit – diluted		391,179			390,561
Net income per Unit – basic	$	0.68		$	0.78
Net income per Unit – diluted	$	0.67		$	0.77