XML 26 R10.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Rental income $ 695,099 $ 623,206 $ 2,035,477 $ 1,818,867
EXPENSES        
Property and maintenance 124,048 116,461 365,277 341,261
Real estate taxes and insurance 100,361 96,909 302,899 297,780
Property management 25,729 23,772 83,035 74,357
General and administrative 13,372 13,041 47,033 43,102
Depreciation 214,129 215,397 667,896 616,032
Total expenses 477,639 465,580 1,466,140 1,372,532
Net gain (loss) on sales of real estate properties 196,551 363,928 304,346 587,623
Operating income 414,011 521,554 873,683 1,033,958
Interest and other income 720 973 4,844 25,293
Other expenses (3,755) (3,456) (9,191) (10,908)
Interest:        
Expense incurred, net (72,412) (68,251) (217,093) (202,733)
Amortization of deferred financing costs (2,220) (2,048) (6,421) (6,172)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 336,344 448,772 645,822 839,438
Income and other tax (expense) benefit (152) (284) (725) (679)
Income (loss) from investments in unconsolidated entities (1,027) (1,156) (3,456) (3,028)
Net gain (loss) on sales of land parcels       5
Net income 335,165 447,332 641,641 835,736
Partially Owned Properties (1,143) (534) (2,726) (1,957)
Net income attributable to controlling interests $ 323,025 $ 431,951 $ 617,891 $ 805,876
Earnings per Unit – basic:        
Net income available to Units $ 0.86 $ 1.15 $ 1.64 $ 2.15
Earnings per Unit – diluted:        
Net income available to Units $ 0.86 $ 1.15 $ 1.63 $ 2.14
Weighted average Units outstanding 389,300 388,374 389,394 387,642
ERPOP [Member]        
REVENUES        
Rental income $ 695,099 $ 623,206 $ 2,035,477 $ 1,818,867
EXPENSES        
Property and maintenance 124,048 116,461 365,277 341,261
Real estate taxes and insurance 100,361 96,909 302,899 297,780
Property management 25,729 23,772 83,035 74,357
General and administrative 13,372 13,041 47,033 43,102
Depreciation 214,129 215,397 667,896 616,032
Total expenses 477,639 465,580 1,466,140 1,372,532
Net gain (loss) on sales of real estate properties 196,551 363,928 304,346 587,623
Operating income 414,011 521,554 873,683 1,033,958
Interest and other income 720 973 4,844 25,293
Other expenses (3,755) (3,456) (9,191) (10,908)
Interest:        
Expense incurred, net (72,412) (68,251) (217,093) (202,733)
Amortization of deferred financing costs (2,220) (2,048) (6,421) (6,172)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 336,344 448,772 645,822 839,438
Income and other tax (expense) benefit (152) (284) (725) (679)
Income (loss) from investments in unconsolidated entities (1,027) (1,156) (3,456) (3,028)
Net gain (loss) on sales of land parcels       5
Net income 335,165 447,332 641,641 835,736
Partially Owned Properties (1,143) (534) (2,726) (1,957)
Net income attributable to controlling interests 334,022 446,798 638,915 833,779
ALLOCATION OF NET INCOME:        
Preference Units 773 773 2,318 2,318
General Partner 322,252 431,178 615,573 803,558
Limited Partners 10,997 14,847 21,024 27,903
Net income available to Units $ 333,249 $ 446,025 $ 636,597 $ 831,461
Earnings per Unit – basic:        
Net income available to Units $ 0.86 $ 1.15 $ 1.64 $ 2.15
Weighted average Units outstanding 387,745 386,327 387,603 385,841
Earnings per Unit – diluted:        
Net income available to Units $ 0.86 $ 1.15 $ 1.63 $ 2.14
Weighted average Units outstanding 389,300 388,374 389,394 387,642