Earnings Per Share and Earnings Per Unit

12 Months Ended

Dec. 31, 2019

Earnings Per Share And Earnings Per Unit

11.	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,
	2019			2018			2017
Numerator for net income per share – basic:
Net income	$	1,009,708		$	685,192		$	628,381
Allocation to Noncontrolling Interests – Operating Partnership		(36,034	)		(24,939	)		(22,604	)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(3,297	)		(2,718	)		(2,323	)
Preferred distributions		(3,090	)		(3,090	)		(3,091	)
Numerator for net income per share – basic	$	967,287		$	654,445		$	600,363
Numerator for net income per share – diluted:
Net income	$	1,009,708		$	685,192		$	628,381
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(3,297	)		(2,718	)		(2,323	)
Preferred distributions		(3,090	)		(3,090	)		(3,091	)
Numerator for net income per share – diluted	$	1,003,321		$	679,384		$	622,967
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		370,461			368,052			366,968
Effect of dilutive securities:
OP Units		12,907			12,869			12,901
Long-term compensation shares/units		2,965			2,774			2,809
Denominator for net income per share – diluted		386,333			383,695			382,678
Net income per share – basic	$	2.61		$	1.78		$	1.64
Net income per share – diluted	$	2.60		$	1.77		$	1.63

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,
	2019			2018			2017
Numerator for net income per Unit – basic and diluted:
Net income	$	1,009,708		$	685,192		$	628,381
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(3,297	)		(2,718	)		(2,323	)
Allocation to Preference Units		(3,090	)		(3,090	)		(3,091	)
Numerator for net income per Unit – basic and diluted	$	1,003,321		$	679,384		$	622,967
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		383,368			380,921			379,869
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units		2,965			2,774			2,809
Denominator for net income per Unit – diluted		386,333			383,695			382,678
Net income per Unit – basic	$	2.61		$	1.78		$	1.64
Net income per Unit – diluted	$	2.60		$	1.77		$	1.63