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CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
REVENUES    
Rental income $ 664,606,000us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 630,725,000us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Fee and asset management 1,765,000us-gaap_ManagementFeesRevenue 2,717,000us-gaap_ManagementFeesRevenue
Total revenues 666,371,000us-gaap_Revenues 633,442,000us-gaap_Revenues
EXPENSES    
Property and maintenance 124,560,000us-gaap_CostOfPropertyRepairsAndMaintenance 125,566,000us-gaap_CostOfPropertyRepairsAndMaintenance
Real estate taxes and insurance 86,432,000us-gaap_RealEstateTaxesAndInsurance 82,094,000us-gaap_RealEstateTaxesAndInsurance
Property management 21,444,000us-gaap_OwnedPropertyManagementCosts 22,118,000us-gaap_OwnedPropertyManagementCosts
Fee and asset management 1,321,000us-gaap_ServiceManagementCosts 1,662,000us-gaap_ServiceManagementCosts
Depreciation 194,521,000us-gaap_Depreciation 185,167,000us-gaap_Depreciation
General and administrative 19,922,000us-gaap_GeneralAndAdministrativeExpense 17,576,000us-gaap_GeneralAndAdministrativeExpense
Total expenses 448,200,000us-gaap_CostsAndExpenses 434,183,000us-gaap_CostsAndExpenses
Operating Income 218,171,000us-gaap_OperatingIncomeLoss 199,259,000us-gaap_OperatingIncomeLoss
Interest and other income 120,000us-gaap_InterestAndOtherIncome 605,000us-gaap_InterestAndOtherIncome
Other expenses 70,000us-gaap_OtherNonoperatingExpense (664,000)us-gaap_OtherNonoperatingExpense
Interest:    
Expense incurred, net (108,622,000)us-gaap_InterestExpenseDebt (113,049,000)us-gaap_InterestExpenseDebt
Amortization of deferred financing costs (2,589,000)us-gaap_AmortizationOfFinancingCosts (2,792,000)us-gaap_AmortizationOfFinancingCosts
Income before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations 107,150,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 83,359,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income and other tax (expense) benefit (43,000)us-gaap_IncomeTaxExpenseBenefit (240,000)us-gaap_IncomeTaxExpenseBenefit
Income (loss) from investments in unconsolidated entities 2,963,000us-gaap_IncomeLossFromEquityMethodInvestments (1,409,000)us-gaap_IncomeLossFromEquityMethodInvestments
Net gain on sales of real estate properties 79,951,000us-gaap_GainsLossesOnSalesOfInvestmentRealEstate 0us-gaap_GainsLossesOnSalesOfInvestmentRealEstate
Net (loss) on sales of land parcels (1,000)eqr_GainLossOnSalesOfLandParcels (30,000)eqr_GainLossOnSalesOfLandParcels
Income from continuing operations 190,020,000us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 81,680,000us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations, net 204,000us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 1,052,000us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net income 190,224,000us-gaap_ProfitLoss 82,732,000us-gaap_ProfitLoss
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (643,000)eqr_AllocationOfNetIncomeLossToNoncontrollingInterestsPartiallyOwnedProperties (504,000)eqr_AllocationOfNetIncomeLossToNoncontrollingInterestsPartiallyOwnedProperties
Net income attributable to controlling interests 182,522,000us-gaap_NetIncomeLoss 79,135,000us-gaap_NetIncomeLoss
ALLOCATION OF NET INCOME:    
Premium on redemption of Preferred Shares (2,789,000)us-gaap_RedemptionPremium 0us-gaap_RedemptionPremium
Earnings per Unit - basic:    
Income from continuing operations available to Units $ 0.492us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.214us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Net income available to Units $ 0.493us-gaap_EarningsPerShareBasic $ 0.217us-gaap_EarningsPerShareBasic
Earnings per Unit - diluted:    
Income from continuing operations available to Units $ 0.488us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.213us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Net income available to Units $ 0.489us-gaap_EarningsPerShareDiluted $ 0.216us-gaap_EarningsPerShareDiluted
OPERATING PARTNERSHIP    
REVENUES    
Rental income 664,606,000us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
630,725,000us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Fee and asset management 1,765,000us-gaap_ManagementFeesRevenue
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
2,717,000us-gaap_ManagementFeesRevenue
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Total revenues 666,371,000us-gaap_Revenues
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
633,442,000us-gaap_Revenues
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
EXPENSES    
Property and maintenance 124,560,000us-gaap_CostOfPropertyRepairsAndMaintenance
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
125,566,000us-gaap_CostOfPropertyRepairsAndMaintenance
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Real estate taxes and insurance 86,432,000us-gaap_RealEstateTaxesAndInsurance
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
82,094,000us-gaap_RealEstateTaxesAndInsurance
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Property management 21,444,000us-gaap_OwnedPropertyManagementCosts
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
22,118,000us-gaap_OwnedPropertyManagementCosts
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Fee and asset management 1,321,000us-gaap_ServiceManagementCosts
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
1,662,000us-gaap_ServiceManagementCosts
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Depreciation 194,521,000us-gaap_Depreciation
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
185,167,000us-gaap_Depreciation
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
General and administrative 19,922,000us-gaap_GeneralAndAdministrativeExpense
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
17,576,000us-gaap_GeneralAndAdministrativeExpense
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Total expenses 448,200,000us-gaap_CostsAndExpenses
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
434,183,000us-gaap_CostsAndExpenses
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Operating Income 218,171,000us-gaap_OperatingIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
199,259,000us-gaap_OperatingIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Interest and other income 120,000us-gaap_InterestAndOtherIncome
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
605,000us-gaap_InterestAndOtherIncome
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Other expenses 70,000us-gaap_OtherNonoperatingExpense
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
(664,000)us-gaap_OtherNonoperatingExpense
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Interest:    
Expense incurred, net (108,622,000)us-gaap_InterestExpenseDebt
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
(113,049,000)us-gaap_InterestExpenseDebt
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Amortization of deferred financing costs (2,589,000)us-gaap_AmortizationOfFinancingCosts
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
(2,792,000)us-gaap_AmortizationOfFinancingCosts
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Income before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations 107,150,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
83,359,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Income and other tax (expense) benefit (43,000)us-gaap_IncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
(240,000)us-gaap_IncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Income (loss) from investments in unconsolidated entities 2,963,000us-gaap_IncomeLossFromEquityMethodInvestments
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
(1,409,000)us-gaap_IncomeLossFromEquityMethodInvestments
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net gain on sales of real estate properties 79,951,000us-gaap_GainsLossesOnSalesOfInvestmentRealEstate
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
0us-gaap_GainsLossesOnSalesOfInvestmentRealEstate
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net (loss) on sales of land parcels (1,000)eqr_GainLossOnSalesOfLandParcels
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
(30,000)eqr_GainLossOnSalesOfLandParcels
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Income from continuing operations 190,020,000us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
81,680,000us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Discontinued operations, net 204,000us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
1,052,000us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net income 190,224,000us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
82,732,000us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (643,000)eqr_AllocationOfNetIncomeLossToNoncontrollingInterestsPartiallyOwnedProperties
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
(504,000)eqr_AllocationOfNetIncomeLossToNoncontrollingInterestsPartiallyOwnedProperties
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net income attributable to controlling interests 189,581,000us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
82,228,000us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
ALLOCATION OF NET INCOME:    
Preference Units 891,000eqr_DividendsPreferenceUnits
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
1,036,000eqr_DividendsPreferenceUnits
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Premium on redemption of Preferred Shares 2,789,000us-gaap_RedemptionPremium
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
0us-gaap_RedemptionPremium
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
General Partner 178,842,000us-gaap_NetIncomeLossAllocatedToGeneralPartners
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
78,099,000us-gaap_NetIncomeLossAllocatedToGeneralPartners
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Limited Partners 7,059,000us-gaap_NetIncomeLossAllocatedToLimitedPartners
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
3,093,000us-gaap_NetIncomeLossAllocatedToLimitedPartners
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net income available to Units $ 185,901,000us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
$ 81,192,000us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Earnings per Unit - basic:    
Income from continuing operations available to Units $ 0.492us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
$ 0.214us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net income available to Units $ 0.493us-gaap_EarningsPerShareBasic
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
$ 0.217us-gaap_EarningsPerShareBasic
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Weighted average Units outstanding 376,696us-gaap_WeightedAverageLimitedPartnershipAndGeneralPartnershipUnitsOutstandingBasic
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
374,201us-gaap_WeightedAverageLimitedPartnershipAndGeneralPartnershipUnitsOutstandingBasic
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Earnings per Unit - diluted:    
Income from continuing operations available to Units $ 0.488us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
$ 0.213us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Net income available to Units $ 0.489us-gaap_EarningsPerShareDiluted
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
$ 0.216us-gaap_EarningsPerShareDiluted
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Weighted average Units outstanding 380,327eqr_WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingDiluted
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
376,384eqr_WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingDiluted
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
Distributions declared per Unit outstanding $ 0.5525us-gaap_DistributionsPerLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasic
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember
$ 0.50us-gaap_DistributionsPerLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasic
/ dei_LegalEntityAxis
= us-gaap_PartnershipInterestMember