Net Income Per Common Share and Net Income Per Common Unit (Tables)

9 Months Ended

Sep. 30, 2024

Net Income Per Share and Net Income Per Unit [Line Items]

Schedule of Net Income Per Common Share

Basic and diluted income per share is calculated as follows for the three and nine months ended September 30, 2024 and 2023 ($ in thousands, except share and per share amounts):

	Three Months Ended September 30, 2024					Three Months Ended September 30, 2023
	Income		Weighted- average Common Shares	Per Common Share Amount		Income		Weighted- average Common Shares	Per Common Share Amount
Basic:
Net income available to common stockholders	$	118,424	64,227,662	$	1.84	$	87,282	64,184,180	$	1.36
Effect of Dilutive Securities:
Stock options	—		43,797			—		1,840
Diluted:
Net income available to common stockholders	$	118,424	64,271,459	$	1.84	$	87,282	64,186,020	$	1.36

	Nine Months Ended September 30, 2024					Nine Months Ended September 30, 2023
	Income		Weighted- average Common Shares	Per Common Share Amount		Income		Weighted- average Common Shares	Per Common Share Amount
Basic:
Net income available to common stockholders	$	484,069	64,214,258	$	7.54	$	340,434	64,274,085	$	5.30
Effect of Dilutive Securities:
Stock options	—		20,100			—		1,194
Diluted:
Net income available to common stockholders	$	484,069	64,234,358	$	7.54	$	340,434	64,275,279	$	5.30

Essex Portfolio, L.P.

Net Income Per Share and Net Income Per Unit [Line Items]

Schedule of Net Income Per Common Share

Basic and diluted income per unit is calculated as follows for the three and nine months ended September 30, 2024 and 2023 ($ in thousands, except unit and per unit amounts):

	Three Months Ended September 30, 2024					Three Months Ended September 30, 2023
	Income		Weighted- average Common  Units	Per Common Unit Amount		Income		Weighted- average Common  Units	Per Common Unit Amount
Basic:
Net income available to common unitholders	$	122,630	66,508,041	$	1.84	$	90,354	66,443,416	$	1.36
Effect of Dilutive Securities:
Stock options	—		43,797			—		1,840
Diluted:
Net income available to common unitholders	$	122,630	66,551,838	$	1.84	$	90,354	66,445,256	$	1.36

	Nine Months Ended September 30, 2024					Nine Months Ended September 30, 2023
	Income		Weighted- average Common Shares	Per Common Share Amount		Income		Weighted- average Common Shares	Per Common Share Amount
Basic:
Net income available to common stockholders	$	501,144	66,480,312	$	7.54	$	352,416	66,535,917	$	5.30
Effect of Dilutive Securities:
Stock options	—		20,100			—		1,115
Diluted:
Net income available to common stockholders	$	501,144	66,500,412	$	7.54	$	352,416	66,537,111	$	5.30