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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 641,641 $ 835,736
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 667,896 616,032
Amortization of deferred financing costs 6,421 6,172
Amortization of above/below market lease intangibles   (154)
Amortization of discounts and premiums on debt 4,123 3,934
Amortization of deferred settlements on derivative instruments 9,978 6,991
Amortization of right-of-use assets 9,123 10,286
Write-off of pursuit costs 3,296 3,557
(Income) loss from investments in unconsolidated entities 3,456 3,028
Distributions from unconsolidated entities – return on capital 251  
Net (gain) loss on sales of real estate properties (304,346) (587,623)
Net (gain) loss on sales of land parcels   (5)
Realized (gain) loss on sale of investment securities (2,061) (23,432)
Compensation paid with Company Common Shares 24,559 21,919
Changes in assets and liabilities:    
(Increase) decrease in other assets 20,734 16,269
Increase (decrease) in accounts payable and accrued expenses 76,274 69,170
Increase (decrease) in accrued interest payable (19,858) (9,119)
Increase (decrease) in lease liabilities (1,166) (4,112)
Increase (decrease) in other liabilities (23,199) 5,427
Increase (decrease) in security deposits 3,106 4,137
Net cash provided by operating activities 1,120,228 978,213
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (113,046) (1,022,275)
Investment in real estate – development/other (81,889) (172,850)
Capital expenditures to real estate (141,707) (107,706)
Non-real estate capital additions (2,232) (1,251)
Interest capitalized for real estate and unconsolidated entities under development (4,181) (12,365)
Proceeds from disposition of real estate, net 720,302 1,014,328
Investments in unconsolidated entities - acquisitions (49,330) (21,787)
Investments in unconsolidated entities – development/other (87,129) (9,294)
Distributions from unconsolidated entities – return of capital 9 4
Purchase of investment securities and other investments (1,045) (167,791)
Proceeds from sale of investment securities 3,584 191,398
Net cash provided by (used for) investing activities 243,336 (309,589)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (373) (6,447)
Mortgage notes payable, net:    
Proceeds 37,429 51,298
Lump sum payoffs (260,874) (59,880)
Scheduled principal repayments (3,186) (5,570)
Notes, net:    
Proceeds   497,470
Lump sum payoffs (500,000)  
Line of credit and commercial paper:    
Commercial paper proceeds 5,140,685 4,305,170
Commercial paper repayments (5,266,158) (4,690,000)
Finance ground lease principal payments (1,845) (349)
Proceeds from Employee Share Purchase Plan (ESPP) 3,280 3,455
Proceeds from exercise of EQR options 21,021 68,807
Payment of offering costs (739) (267)
Other financing activities, net (31) (31)
Acquisition of Noncontrolling Interests – Partially Owned Properties (32,178)  
Contributions – Noncontrolling Interests – Partially Owned Properties 603  
Contributions – Limited Partners 1  
Distributions:    
OP Units – General Partner (696,679) (674,531)
Preference Units (2,318) (2,318)
OP Units – Limited Partners (22,735) (23,949)
Noncontrolling Interests – Partially Owned Properties (18,236) (4,461)
Net cash provided by (used for) financing activities (1,602,333) (541,603)
Net increase (decrease) in cash and cash equivalents and restricted deposits (238,769) 127,021
Cash and cash equivalents and restricted deposits, beginning of period 360,236 99,728
Cash and cash equivalents and restricted deposits, end of period 121,467 226,749
Cash and cash equivalents 44,788 39,707
Restricted deposits 76,679 187,042
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 221,218 199,799
Net cash paid (received) for income and other taxes 728 1,040
Amortization of deferred financing costs:    
Investment in real estate, net (380) (227)
Other assets 1,754 1,754
Mortgage notes payable, net 1,620 1,702
Notes, net 3,427 2,943
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 1,865 2,069
Notes, net 2,258 1,865
Amortization of deferred settlements on derivative instruments:    
Other liabilities (9) (9)
Accumulated other comprehensive income 9,987 7,000
Write-off of pursuit costs:    
Investment in real estate, net 948 3,000
Investments in unconsolidated entities 2,197  
Other assets 151 533
Accounts payable and accrued expenses   24
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 2,517 2,062
Other liabilities 939 966
Realized/unrealized (gain) loss on derivative instruments:    
Other assets (23,413)  
Accumulated other comprehensive income 23,413  
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (1,312) (12,260)
Investments in unconsolidated entities 2,869 105
Investments in unconsolidated entities - development/other:    
Investment in real estate, net   967
Investments in unconsolidated entities (85,839) (8,251)
Other liabilities (1,290) (2,010)
Debt financing costs:    
Other assets (45) 228
Mortgage notes payable, net (228) (2,344)
Notes, net (100) (4,331)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets (224) 11,308
Lease liabilities 224 (11,308)
Non-cash share distribution and other transfers from unconsolidated entities:    
Investments in unconsolidated entities 4,201 1,430
Other assets (4,201) (1,430)
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 641,641 835,736
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 667,896 616,032
Amortization of deferred financing costs 6,421 6,172
Amortization of above/below market lease intangibles   (154)
Amortization of discounts and premiums on debt 4,123 3,934
Amortization of deferred settlements on derivative instruments 9,978 6,991
Amortization of right-of-use assets 9,123 10,286
Write-off of pursuit costs 3,296 3,557
(Income) loss from investments in unconsolidated entities 3,456 3,028
Distributions from unconsolidated entities – return on capital 251  
Net (gain) loss on sales of real estate properties (304,346) (587,623)
Net (gain) loss on sales of land parcels   (5)
Realized (gain) loss on sale of investment securities (2,061) (23,432)
Compensation paid with Company Common Shares 24,559 21,919
Changes in assets and liabilities:    
(Increase) decrease in other assets 20,734 16,269
Increase (decrease) in accounts payable and accrued expenses 76,274 69,170
Increase (decrease) in accrued interest payable (19,858) (9,119)
Increase (decrease) in lease liabilities (1,166) (4,112)
Increase (decrease) in other liabilities (23,199) 5,427
Increase (decrease) in security deposits 3,106 4,137
Net cash provided by operating activities 1,120,228 978,213
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (113,046) (1,022,275)
Investment in real estate – development/other (81,889) (172,850)
Capital expenditures to real estate (141,707) (107,706)
Non-real estate capital additions (2,232) (1,251)
Interest capitalized for real estate and unconsolidated entities under development (4,181) (12,365)
Proceeds from disposition of real estate, net 720,302 1,014,328
Investments in unconsolidated entities - acquisitions (49,330) (21,787)
Investments in unconsolidated entities – development/other (87,129) (9,294)
Distributions from unconsolidated entities – return of capital 9 4
Purchase of investment securities and other investments (1,045) (167,791)
Proceeds from sale of investment securities 3,584 191,398
Net cash provided by (used for) investing activities 243,336 (309,589)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (373) (6,447)
Mortgage notes payable, net:    
Proceeds 37,429 51,298
Lump sum payoffs (260,874) (59,880)
Scheduled principal repayments (3,186) (5,570)
Notes, net:    
Proceeds   497,470
Lump sum payoffs (500,000)  
Line of credit and commercial paper:    
Commercial paper proceeds 5,140,685 4,305,170
Commercial paper repayments (5,266,158) (4,690,000)
Finance ground lease principal payments (1,845) (349)
Proceeds from Employee Share Purchase Plan (ESPP) 3,280 3,455
Proceeds from exercise of EQR options 21,021 68,807
Payment of offering costs (739) (267)
Other financing activities, net (31) (31)
Acquisition of Noncontrolling Interests – Partially Owned Properties (32,178)  
Contributions – Noncontrolling Interests – Partially Owned Properties 603  
Contributions – Limited Partners 1  
Distributions:    
OP Units – General Partner (696,679) (674,531)
Preference Units (2,318) (2,318)
OP Units – Limited Partners (22,735) (23,949)
Noncontrolling Interests – Partially Owned Properties (18,236) (4,461)
Net cash provided by (used for) financing activities (1,602,333) (541,603)
Net increase (decrease) in cash and cash equivalents and restricted deposits (238,769) 127,021
Cash and cash equivalents and restricted deposits, beginning of period 360,236 99,728
Cash and cash equivalents and restricted deposits, end of period 121,467 226,749
Cash and cash equivalents 44,788 39,707
Restricted deposits 76,679 187,042
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 221,218 199,799
Net cash paid (received) for income and other taxes 728 1,040
Amortization of deferred financing costs:    
Investment in real estate, net (380) (227)
Other assets 1,754 1,754
Mortgage notes payable, net 1,620 1,702
Notes, net 3,427 2,943
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 1,865 2,069
Notes, net 2,258 1,865
Amortization of deferred settlements on derivative instruments:    
Other liabilities (9) (9)
Accumulated other comprehensive income 9,987 7,000
Write-off of pursuit costs:    
Investment in real estate, net 948 3,000
Investments in unconsolidated entities 2,197  
Other assets 151 533
Accounts payable and accrued expenses   24
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 2,517 2,062
Other liabilities 939 966
Realized/unrealized (gain) loss on derivative instruments:    
Other assets (23,413)  
Accumulated other comprehensive income 23,413  
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (1,312) (12,260)
Investments in unconsolidated entities (2,869) (105)
Investments in unconsolidated entities - development/other:    
Investment in real estate, net   967
Investments in unconsolidated entities (85,839) (8,251)
Other liabilities (1,290) (2,010)
Debt financing costs:    
Other assets (45) 228
Mortgage notes payable, net (228) (2,344)
Notes, net (100) (4,331)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets (224) 11,308
Lease liabilities 224 (11,308)
Non-cash share distribution and other transfers from unconsolidated entities:    
Investments in unconsolidated entities 4,201 1,430
Other assets $ (4,201) $ (1,430)