Earnings Per Share and Earnings Per Unit

3 Months Ended

Mar. 31, 2020

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):

	Quarter Ended March 31,
	2020			2019
Numerator for net income per share – basic:
Net income	$	332,671		$	109,257
Allocation to Noncontrolling Interests – Operating Partnership		(11,535	)		(3,919	)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(12,530	)		(799	)
Preferred distributions		(773	)		(773	)
Numerator for net income per share – basic	$	307,833		$	103,766
Numerator for net income per share – diluted:
Net income	$	332,671		$	109,257
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(12,530	)		(799	)
Preferred distributions		(773	)		(773	)
Numerator for net income per share – diluted	$	319,368		$	107,685
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		371,582			369,558
Effect of dilutive securities:
OP Units		13,004			12,919
Long-term compensation shares/units		2,363			2,707
Denominator for net income per share – diluted		386,949			385,184
Net income per share – basic	$	0.83		$	0.28
Net income per share – diluted	$	0.83		$	0.28

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,
	2020			2019
Numerator for net income per Unit – basic and diluted:
Net income	$	332,671		$	109,257
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(12,530	)		(799	)
Allocation to Preference Units		(773	)		(773	)
Numerator for net income per Unit – basic and diluted	$	319,368		$	107,685
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		384,586			382,477
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units		2,363			2,707
Denominator for net income per Unit – diluted		386,949			385,184
Net income per Unit – basic	$	0.83		$	0.28
Net income per Unit – diluted	$	0.83		$	0.28