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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 935,197,000 $ 295,983,000 $ 382,029,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 663,616,000 673,403,000 600,375,000
Amortization of deferred financing costs 17,846,000 10,406,000 13,127,000
Amortization of discounts on investment securities 0 0 (1,661,000)
Amortization of discounts and premiums on debt (1,478,000) (471,000) 5,857,000
Amortization of deferred settlements on derivative instruments 3,808,000 2,804,000 2,228,000
Impairment 0 45,380,000 11,124,000
Write-off of pursuit costs 5,075,000 5,272,000 4,838,000
Income from technology investments (4,537,000) 0 0
Loss from investments in unconsolidated entities 0 735,000 2,815,000
Distributions from unconsolidated entities - return on capital 319,000 61,000 153,000
Net (gain) on sales of investment securities 0 0 (4,943,000)
Net (gain) on sales of unconsolidated entities 0 (28,101,000) (10,689,000)
Net (gain) loss on sales of land parcels (4,217,000) 1,395,000 0
Net (gain) on sales of discontinued operations (826,489,000) (297,956,000) (335,299,000)
(Loss) on debt extinguishments 0 2,457,000 17,525,000
Unrealized loss (gain) on derivative instruments 186,000 1,000 (3,000)
Compensation paid with Company Common Shares 21,177,000 18,875,000 17,843,000
Changes in assets and liabilities:      
Decrease in deposits - restricted 4,523,000 3,316,000 3,117,000
(Increase) decrease in other assets (2,743,000) (9,048,000) 11,768,000
Increase (decrease) in accounts payable and accrued expenses 332,000 (5,454,000) (34,524,000)
(Decrease) in accrued interest payable (10,510,000) (4,000,000) (11,997,000)
(Decrease) increase in other liabilities (8,245,000) 9,972,000 2,220,000
Increase in security deposits 4,474,000 1,007,000 (5,091,000)
Net cash provided by operating activities 798,334,000 726,037,000 670,812,000
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment in real estate - acquisitions (1,441,599,000) (1,189,210,000) (175,531,000)
Investment in real estate - development/other (120,741,000) (131,301,000) (330,623,000)
Improvements to real estate (144,452,000) (138,208,000) (123,937,000)
Additions to non-real estate property (7,110,000) (2,991,000) (2,028,000)
Interest capitalized for real estate and unconsolidated entities under development (9,108,000) (13,008,000) (34,859,000)
Proceeds from disposition of real estate, net 1,500,583,000 672,700,000 887,055,000
Investments in unconsolidated entities (2,021,000) 0 0
Distributions from unconsolidated entities - return of capital 0 26,924,000 6,521,000
Purchase of investment securities 0 0 (77,822,000)
Proceeds from sale of investment securities 0 25,000,000 215,753,000
Proceeds from technology investments (4,537,000) 0 0
Decrease (increase) in deposits on real estate acquisitions and investments, net 7,631,000 137,106,000 (250,257,000)
Decrease (increase) in mortgage deposits 1,901,000 4,699,000 2,437,000
Consolidation of previously unconsolidated properties 0 (26,854,000) 0
Deconsolidation of previously consolidated properties 28,360,000 11,708,000 0
Acquisition of Noncontrolling Interests - Partially Owned Properties (12,809,000) (16,023,000) (11,480,000)
Net cash (used for) provided by investing activities (194,828,000) (639,458,000) 105,229,000
CASH FLOWS FROM FINANCING ACTIVITIES:      
Loan and bond acquisition costs (20,421,000) (8,811,000) (9,291,000)
Mortgage notes payable:      
Proceeds 190,905,000 173,561,000 738,798,000
Restricted cash 16,596,000 73,232,000 46,664,000
Scheduled principal repayments (16,726,000) (16,769,000) (17,763,000)
(Loss) on debt extinguishments 0 2,457,000 (2,400,000)
Notes, net:      
Proceeds 996,190,000 595,422,000 0
Repayments of Notes Payable 575,641,000 0 850,115,000
Gain Loss On Debt Extinguishment Notes Net 0 0 19,925,000
Lines of credit:      
Repayments (1,455,000,000) (5,513,125,000) 0
(Payments on) proceeds from settlement of derivative instruments (147,306,000) (10,040,000) 11,253,000
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 5,262,000 5,112,000 5,292,000
Proceeds from exercise of EQR options 95,322,000 71,596,000 9,136,000
Payment of offering costs (3,596,000) (4,657,000) (2,536,000)
Other financing activities, net (48,000) (48,000) (16,000)
Contributions - Noncontrolling Interests - Partially Owned Properties 75,911,000 222,000 893,000
Contributions – Limited Partners 0 0 78,000
Distributions:      
Preference Interests and Junior Preference Units 0 0 (12,000)
Net cash (used for) provided by financing activities (650,993,000) 151,541,000 (1,473,547,000)
Net (decrease) increase in cash and cash equivalents (47,487,000) 238,120,000 (697,506,000)
Cash and cash equivalents, beginning of year 431,408,000 193,288,000 890,794,000
Cash and cash equivalents, end of year 383,921,000 431,408,000 193,288,000
SUPPLEMENTAL INFORMATION:      
Cash paid for interest, net of amounts capitalized 477,434,000 475,374,000 508,847,000
Net cash paid (received) for income and other taxes 645,000 (2,740,000) 3,968,000
Real estate acquisitions/dispositions/other:      
Mortgage loans assumed 158,240,000 359,082,000 0
Valuation of OP Units issued 0 8,245,000 1,034,000
Mortgage loans (assumed) by purchaser 0 (39,999,000) (17,313,000)
Amortization of deferred financing costs:      
Investment in real estate, net 0 (2,768,000) (3,585,000)
Deferred financing costs, net 17,846,000 13,174,000 16,712,000
Amortization of discounts and premiums on debt:      
Investment in real estate, net 0 0 (3,000)
Mortgage notes payable (8,260,000) (9,208,000) (6,097,000)
Notes, net 6,782,000 8,737,000 11,957,000
Amortization of deferred settlements on derivative instruments:      
Other liabilities (535,000) (534,000) (1,496,000)
Accumulated other comprehensive income 4,343,000 3,338,000 3,724,000
Unrealized loss (gain) on derivative instruments:      
Other assets 6,826,000 13,019,000 (33,261,000)
Mortgage notes payable (612,000) (163,000) (1,887,000)
Notes, net (2,937,000) 7,497,000 719,000
Other liabilities 140,507,000 45,542,000 (3,250,000)
Accumulated other comprehensive (loss) income (143,598,000) (65,894,000) 37,676,000
Interest capitalized for real estate and unconsolidated entities under development:      
Investment in real estate, net (8,785,000) (13,008,000) (34,859,000)
Investments in unconsolidated entities (323,000) 0 0
Consolidation of previously unconsolidated properties:      
Investment in real estate, net 0 (105,065,000) 0
Investments in unconsolidated entities 0 7,376,000 0
Deposits - restricted 0 (42,633,000) 0
Mortgage notes payable 0 112,631,000 0
Net other assets recorded 0 837,000 0
Deconsolidation of previously consolidated properties:      
Investment in real estate, net 35,495,000 14,875,000 0
Investments in unconsolidated entities (7,135,000) (3,167,000) 0
(Payments on) proceeds from settlement of derivative instruments:      
Other assets 0 0 11,253,000
Other liabilities (147,306,000) (10,040,000) 0
Other:      
Transfer from notes, net to mortgage notes payable 0 35,600,000 0
OPERATING PARTNERSHIP
     
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income 935,197,000 295,983,000 382,029,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 663,616,000 673,403,000 600,375,000
Amortization of deferred financing costs 17,846,000 10,406,000 13,127,000
Amortization of discounts on investment securities 0 0 (1,661,000)
Amortization of discounts and premiums on debt (1,478,000) (471,000) 5,857,000
Amortization of deferred settlements on derivative instruments 3,808,000 2,804,000 2,228,000
Impairment 0 45,380,000 11,124,000
Write-off of pursuit costs 5,075,000 5,272,000 4,838,000
Income from technology investments (4,537,000) 0 0
Loss from investments in unconsolidated entities 0 735,000 2,815,000
Distributions from unconsolidated entities - return on capital 319,000 61,000 153,000
Net (gain) on sales of investment securities 0 0 (4,943,000)
Net (gain) on sales of unconsolidated entities 0 (28,101,000) (10,689,000)
Net (gain) loss on sales of land parcels (4,217,000) 1,395,000 0
Net (gain) on sales of discontinued operations (826,489,000) (297,956,000) (335,299,000)
(Loss) on debt extinguishments 0 2,457,000 17,525,000
Unrealized loss (gain) on derivative instruments 186,000 1,000 (3,000)
Compensation paid with Company Common Shares 21,177,000 18,875,000 17,843,000
Changes in assets and liabilities:      
Decrease in deposits - restricted 4,523,000 3,316,000 3,117,000
(Increase) decrease in other assets (2,743,000) (9,048,000) 11,768,000
Increase (decrease) in accounts payable and accrued expenses 332,000 (5,454,000) (34,524,000)
(Decrease) in accrued interest payable (10,510,000) (4,000,000) (11,997,000)
(Decrease) increase in other liabilities (8,245,000) 9,972,000 2,220,000
Increase in security deposits 4,474,000 1,007,000 (5,091,000)
Net cash provided by operating activities 798,334,000 726,037,000 670,812,000
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment in real estate - acquisitions (1,441,599,000) (1,189,210,000) (175,531,000)
Investment in real estate - development/other (120,741,000) (131,301,000) (330,623,000)
Improvements to real estate (144,452,000) (138,208,000) (123,937,000)
Additions to non-real estate property (7,110,000) (2,991,000) (2,028,000)
Interest capitalized for real estate and unconsolidated entities under development (9,108,000) (13,008,000) (34,859,000)
Proceeds from disposition of real estate, net 1,500,583,000 672,700,000 887,055,000
Investments in unconsolidated entities 2,021,000 0 0
Distributions from unconsolidated entities - return of capital 0 26,924,000 6,521,000
Purchase of investment securities 0 0 (77,822,000)
Proceeds from sale of investment securities 0 25,000,000 215,753,000
Proceeds from technology investments 4,537,000 0 0
Decrease (increase) in deposits on real estate acquisitions and investments, net 7,631,000 137,106,000 (250,257,000)
Decrease (increase) in mortgage deposits 1,901,000 4,699,000 2,437,000
Consolidation of previously unconsolidated properties 0 (26,854,000) 0
Deconsolidation of previously consolidated properties 28,360,000 11,708,000 0
Acquisition of Noncontrolling Interests - Partially Owned Properties (12,809,000) (16,023,000) (11,480,000)
Net cash (used for) provided by investing activities (194,828,000) (639,458,000) 105,229,000
CASH FLOWS FROM FINANCING ACTIVITIES:      
Loan and bond acquisition costs (20,421,000) (8,811,000) (9,291,000)
Mortgage notes payable:      
Proceeds 190,905,000 173,561,000 738,798,000
Restricted cash 16,596,000 73,232,000 46,664,000
Lump sum payoffs (974,956,000) (635,285,000) (939,022,000)
Scheduled principal repayments (16,726,000) (16,769,000) (17,763,000)
(Loss) on debt extinguishments 0 2,457,000 (2,400,000)
Notes, net:      
Proceeds 996,190,000 595,422,000 0
Repayments of Notes Payable 575,641,000 0 850,115,000
Gain Loss On Debt Extinguishment Notes Net 0 0 (19,925,000)
Lines of credit:      
Proceeds 1,455,000,000 5,513,125,000 0
Repayments (1,455,000,000) (5,513,125,000) 0
(Payments on) proceeds from settlement of derivative instruments (147,306,000) (10,040,000) 11,253,000
Proceeds from sale of OP Units 173,484,000 329,452,000 86,184,000
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 5,262,000 5,112,000 5,292,000
Proceeds from exercise of EQR options 95,322,000 71,596,000 9,136,000
OP Units repurchased and retired 0 (1,887,000) (1,124,000)
Redemption of Preference Units 0 (877,000) 0
Payment of offering costs (3,596,000) (4,657,000) (2,536,000)
Other financing activities, net (48,000) (48,000) (16,000)
Contributions - Noncontrolling Interests - Partially Owned Properties 75,911,000 222,000 893,000
Contributions – Limited Partners 0 0 78,000
Distributions:      
OP Units - General Partner (432,023,000) (379,969,000) (488,604,000)
Preference Units (12,829,000) (14,471,000) (14,479,000)
Preference Interests and Junior Preference Units 0 0 (12,000)
OP Units - Limited Partners (20,002,000) (18,867,000) (28,935,000)
Noncontrolling Interests - Partially Owned Properties (1,115,000) (2,918,000) (2,423,000)
Net cash (used for) provided by financing activities (650,993,000) 151,541,000 (1,473,547,000)
Net (decrease) increase in cash and cash equivalents (47,487,000) 238,120,000 (697,506,000)
Cash and cash equivalents, beginning of year 431,408,000 193,288,000 890,794,000
Cash and cash equivalents, end of year 383,921,000 431,408,000 193,288,000
SUPPLEMENTAL INFORMATION:      
Cash paid for interest, net of amounts capitalized 477,434,000 475,374,000 508,847,000
Net cash paid (received) for income and other taxes 645,000 (2,740,000) 3,968,000
Real estate acquisitions/dispositions/other:      
Mortgage loans assumed 158,240,000 359,082,000 0
Valuation of OP Units issued 0 8,245,000 1,034,000
Mortgage loans (assumed) by purchaser 0 (39,999,000) (17,313,000)
Amortization of deferred financing costs:      
Investment in real estate, net 0 (2,768,000) (3,585,000)
Deferred financing costs, net 17,846,000 13,174,000 16,712,000
Amortization of discounts and premiums on debt:      
Investment in real estate, net 0 0 (3,000)
Mortgage notes payable (8,260,000) (9,208,000) (6,097,000)
Notes, net 6,782,000 8,737,000 11,957,000
Amortization of deferred settlements on derivative instruments:      
Other liabilities (535,000) (534,000) (1,496,000)
Accumulated other comprehensive income (4,343,000) (3,338,000) (3,724,000)
Unrealized loss (gain) on derivative instruments:      
Other assets 6,826,000 13,019,000 (33,261,000)
Mortgage notes payable (612,000) (163,000) (1,887,000)
Notes, net (2,937,000) 7,497,000 719,000
Other liabilities 140,507,000 45,542,000 (3,250,000)
Accumulated other comprehensive (loss) income (143,598,000) (65,894,000) 37,676,000
Interest capitalized for real estate and unconsolidated entities under development:      
Investment in real estate, net (8,785,000) (13,008,000) (34,859,000)
Investments in unconsolidated entities (323,000) 0 0
Consolidation of previously unconsolidated properties:      
Investment in real estate, net 0 (105,065,000) 0
Investments in unconsolidated entities 0 7,376,000 0
Deposits - restricted 0 (42,633,000) 0
Mortgage notes payable 0 112,631,000 0
Net other assets recorded 0 837,000 0
Deconsolidation of previously consolidated properties:      
Investment in real estate, net 35,495,000 14,875,000 0
Investments in unconsolidated entities (7,135,000) (3,167,000) 0
(Payments on) proceeds from settlement of derivative instruments:      
Other assets 0 0 11,253,000
Other liabilities (147,306,000) (10,040,000) 0
Other:      
Receivable on sale of OP Units 0 37,550,000 0
Transfer from notes, net to mortgage notes payable $ 0 $ 35,600,000 $ 0