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EPLP - Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 444,304 $ 384,126
Adjustments to reconcile net income to net cash provided by operating activities:    
Straight-lined rents 332 419
Depreciation and amortization 302,788 285,346
Amortization of discount and debt financing costs, net 2,280 4,190
Realized and unrealized gains on marketable securities, net (2,401) (4,948)
Provision for credit losses 11 66
Equity income from co-investments (22,186) (22,018)
Operating distributions from co-investments 29,358 21,493
Accrued interest from notes and other receivables (5,238) (7,810)
Gain on the sale of real estate and land (237,204) 0
Equity-based compensation 4,202 3,501
Loss on early retirement of debt 762 0
Gain on remeasurement of co-investment (330) (138,326)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 2,008 4,462
Accounts payable, accrued liabilities, and operating lease liabilities (19,357) 5,365
Other liabilities (1,697) (2,084)
Net cash provided by operating activities 497,632 533,782
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (585,132) (489,486)
Redevelopment (30,309) (24,143)
Development acquisitions of and additions to real estate under development (16,419) (2,479)
Capital expenditures on rental properties (64,450) (60,982)
Investments in notes receivable (281) (56,553)
Collections of notes and other receivables 3,096 0
Proceeds from insurance for property losses 1,857 1,173
Proceeds from dispositions of real estate 364,155 0
Contributions to co-investments (8,727) (3,804)
Changes in refundable deposits 8,000 (1,000)
Purchases of marketable securities (10,068) (335)
Sales and maturities of marketable securities 188 8,787
Non-operating distributions from co-investments 18,000 6,500
Net cash used in investing activities (320,090) (622,322)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 548,416 349,132
Payments on unsecured debt and mortgage notes (615,502) (401,533)
Proceeds from lines of credit and commercial paper 2,445,777 546,556
Repayments of lines of credit and commercial paper (2,218,722) (417,164)
Additions to deferred charges (5,393) (3,000)
Payments related to debt prepayment penalties (697) 0
Net costs from issuance of common units (101) (113)
Net proceeds from stock options exercised 8,930 962
Payments related to tax withholding for share-based compensation (519) 0
Distributions to noncontrolling interest (16,213) (16,544)
Redemption of noncontrolling interests (8,556) (279)
Common units distributions paid (322,924) (305,660)
Net cash provided by financing activities (185,504) (247,643)
Net increase in unrestricted and restricted cash and cash equivalents (7,962) (336,183)
Unrestricted and restricted cash and cash equivalents at beginning of period 75,846 400,334
Unrestricted and restricted cash and cash equivalents at end of period 67,884 64,151
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of $1.4 million and $0.1 million capitalized in 2025 and 2024, respectively) 122,558 108,246
Operating cash flows from operating leases 3,291 3,530
Supplemental disclosure of noncash investing and financing activities:    
Reclassifications to redeemable noncontrolling interest from general and limited partner capital and noncontrolling interest 2,073 1,684
Leased assets obtained in exchange for new operating lease liabilities 2,727 0
Essex Portfolio, L.P.    
Cash flows from operating activities:    
Net income 444,304 384,126
Adjustments to reconcile net income to net cash provided by operating activities:    
Straight-lined rents 332 419
Depreciation and amortization 302,788 285,346
Amortization of discount and debt financing costs, net 2,280 4,190
Realized and unrealized gains on marketable securities, net (2,401) (4,948)
Provision for credit losses 11 66
Equity income from co-investments (22,186) (22,018)
Operating distributions from co-investments 29,358 21,493
Accrued interest from notes and other receivables (5,238) (7,810)
Gain on the sale of real estate and land (237,204) 0
Equity-based compensation 4,202 3,501
Loss on early retirement of debt 762 0
Gain on remeasurement of co-investment (330) (138,326)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 2,008 4,462
Accounts payable, accrued liabilities, and operating lease liabilities (19,357) 5,365
Other liabilities (1,697) (2,084)
Net cash provided by operating activities 497,632 533,782
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (585,132) (489,486)
Redevelopment (30,309) (24,143)
Development acquisitions of and additions to real estate under development (16,419) (2,479)
Capital expenditures on rental properties (64,450) (60,982)
Investments in notes receivable (281) (56,553)
Collections of notes and other receivables 3,096 0
Proceeds from insurance for property losses 1,857 1,173
Proceeds from dispositions of real estate 364,155 0
Contributions to co-investments (8,727) (3,804)
Changes in refundable deposits 8,000 (1,000)
Purchases of marketable securities (10,068) (335)
Sales and maturities of marketable securities 188 8,787
Non-operating distributions from co-investments 18,000 6,500
Net cash used in investing activities (320,090) (622,322)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 548,416 349,132
Payments on unsecured debt and mortgage notes (615,502) (401,533)
Proceeds from lines of credit and commercial paper 2,445,777 546,556
Repayments of lines of credit and commercial paper (2,218,722) (417,164)
Additions to deferred charges (5,393) (3,000)
Payments related to debt prepayment penalties (697) 0
Net costs from issuance of common units (101) (113)
Net proceeds from stock options exercised 8,930 962
Payments related to tax withholding for share-based compensation (519) 0
Distributions to noncontrolling interest (4,718) (4,454)
Redemption of noncontrolling interests (8,556) (279)
Common units distributions paid (334,419) (317,750)
Net cash provided by financing activities (185,504) (247,643)
Net increase in unrestricted and restricted cash and cash equivalents (7,962) (336,183)
Unrestricted and restricted cash and cash equivalents at beginning of period 75,846 400,334
Unrestricted and restricted cash and cash equivalents at end of period 67,884 64,151
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of $1.4 million and $0.1 million capitalized in 2025 and 2024, respectively) 122,558 108,246
Operating cash flows from operating leases 3,291 3,530
Supplemental disclosure of noncash investing and financing activities:    
Reclassifications to redeemable noncontrolling interest from general and limited partner capital and noncontrolling interest 2,073 1,684
Leased assets obtained in exchange for new operating lease liabilities $ 2,727 $ 0