XML 27 R12.htm IDEA: XBRL DOCUMENT v3.24.2
EPLP - Condensed Consolidated Statements of Capital for the three and six months ended June 30, 2024 and 2023 (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Increase (Decrease) in Partners' Capital [Roll Forward]        
Net income $ 98,986 $ 105,756 $ 384,126 $ 267,350
Change in fair value of derivatives and amortization of swap settlements (2,487) 15,386 5,508 5,092
Issuance of common units under:        
Sale of common stock by general partner, net (105) (53) (113) (125)
Retirement of common units, net       (95,657)
Changes in the redemption value of redeemable noncontrolling interest (1,697) (1,147) (1,684) (4,205)
Distributions to noncontrolling interest (8,663) (8,056) (17,075) (16,033)
Redemptions   (436) (279) (609)
Essex Portfolio, L.P.        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance at period beginning 5,723,753 5,796,857 5,593,978 5,895,116
Net income 98,986 105,756 384,126 267,350
Change in fair value of derivatives and amortization of swap settlements (2,487) 15,386 5,508 5,092
Issuance of common units under:        
General partner's stock based compensation, net     962  
Sale of common stock by general partner, net (105) (53) (113) (125)
Equity based compensation costs 2,048 1,982 3,743 7,646
Retirement of common units, net       (95,657)
Changes in the redemption value of redeemable noncontrolling interest (1,697) (1,147) (1,684) (4,205)
Distributions to noncontrolling interest (3,130) (2,835) (6,005) (5,590)
Redemptions   (436) (279) (609)
Distributions declared (162,868) (153,505) (325,736) (307,013)
Balance at period end $ 5,654,500 $ 5,762,005 $ 5,654,500 $ 5,762,005
Essex Portfolio, L.P. | Common Equity | General Partner        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance at period beginning (in shares) 64,209 64,182 64,203 64,605
Balance at period beginning $ 5,506,752 $ 5,582,259 $ 5,389,190 $ 5,669,906
Net income $ 92,914 $ 99,620 $ 365,645 $ 253,152
Issuance of common units under:        
General partner's stock based compensation, net (in shares) 1 1 7 3
General partner's stock based compensation, net     $ 962  
Sale of common stock by general partner, net $ (105) $ (53) (113) $ (125)
Equity based compensation costs 1,979 1,915 3,616 $ 7,387
Retirement of common units, net (in shares)       (437)
Retirement of common units, net       $ (95,657)
Changes in the redemption value of redeemable noncontrolling interest (1,443) (1,160) (1,623) $ (4,087)
Redemptions (in shares)       12
Redemptions   (404) (249) $ (113)
Distributions declared $ (157,335) $ (148,284) $ (314,666) $ (296,570)
Balance at period end (in shares) 64,210 64,183 64,210 64,183
Balance at period end $ 5,442,762 $ 5,533,893 $ 5,442,762 $ 5,533,893
Essex Portfolio, L.P. | Common Equity | Limited Partners        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance at period beginning (in shares) 2,259 2,261 2,259 2,272
Balance at period beginning $ 49,276 $ 51,385 $ 44,991 $ 51,454
Net income 3,270 3,506 12,869 8,910
Issuance of common units under:        
Equity based compensation costs 69 67 127 259
Changes in the redemption value of redeemable noncontrolling interest (263) $ (26) (98) $ (132)
Redemptions (in shares)   (1)   (12)
Redemptions   $ (7)   $ (344)
Distributions declared $ (5,533) $ (5,221) $ (11,070) $ (10,443)
Balance at period end (in shares) 2,259 2,260 2,259 2,260
Balance at period end $ 46,819 $ 49,704 $ 46,819 $ 49,704
Essex Portfolio, L.P. | Accumulated other comprehensive income, net        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance at period beginning 46,641 41,716 38,646 52,010
Change in fair value of derivatives and amortization of swap settlements (2,487) 15,386 5,508 5,092
Issuance of common units under:        
Balance at period end 44,154 57,102 44,154 57,102
Essex Portfolio, L.P. | Noncontrolling interest        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance at period beginning 121,084 121,497 121,151 121,746
Net income 2,802 2,630 5,612 5,288
Issuance of common units under:        
Changes in the redemption value of redeemable noncontrolling interest 9 39 37 14
Distributions to noncontrolling interest (3,130) (2,835) (6,005) (5,590)
Redemptions   (25) (30) (152)
Balance at period end $ 120,765 $ 121,306 $ 120,765 $ 121,306