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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 488,587 $ 364,933
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 450,093 437,185
Amortization of deferred financing costs 3,836 3,996
Amortization of discounts and premiums on debt 2,536 1,740
Amortization of deferred settlements on derivative instruments 1,204 2,195
Amortization of right-of-use assets 6,470 6,357
Write-off of pursuit costs 1,369 1,993
(Income) loss from investments in unconsolidated entities 3,372 2,605
Distributions from unconsolidated entities – return on capital 281 290
Net (gain) loss on sales of real estate properties (227,994) (100,122)
Realized (gain) loss on investment securities 1,316 87
Unrealized (gain) loss on investment securities (5,745)  
Compensation paid with Company Common Shares 21,350 20,845
Changes in assets and liabilities:    
(Increase) decrease in other assets 30,297 (13,258)
Increase (decrease) in accounts payable and accrued expenses 18,780 25,424
Increase (decrease) in accrued interest payable (131) (72)
Increase (decrease) in lease liabilities (1,020) (658)
Increase (decrease) in other liabilities 22,697 (8,047)
Increase (decrease) in security deposits 670 487
Net cash provided by operating activities 817,968 745,980
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (63,507) (186,676)
Investment in real estate – development/other (55,253) (46,815)
Capital expenditures to real estate (153,304) (135,247)
Non-real estate capital additions (921) (1,043)
Interest capitalized for real estate and unconsolidated entities under development (6,894) (6,979)
Proceeds from disposition of real estate, net 330,128 133,916
Investments in unconsolidated entities - acquisitions (31,286) (989)
Investments in unconsolidated entities - development/other (28,793) (25,413)
Distributions from unconsolidated entities – return of capital 16 15
Purchase of investment securities and other investments   (2,500)
Proceeds from sale of investment securities 7,457 452
Net cash provided by (used for) investing activities (2,357) (271,279)
Mortgage notes payable, net:    
Proceeds 0 22,896
Lump sum payoffs 0 (64,722)
Scheduled principal repayments   (54)
Line of credit and commercial paper:    
Commercial paper proceeds 3,532,753 2,382,619
Commercial paper repayments (3,771,000) (2,328,100)
Finance ground lease principal payments (1,438) (1,329)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 2,449 2,124
Proceeds from exercise of EQR options 6,480 11,358
Redemption of Preference Units (20,125)  
Other financing activities, net (45) (31)
Acquisition of Noncontrolling Interests – Partially Owned Properties   (3,737)
Contributions – Noncontrolling Interests – Partially Owned Properties 458 9
Contributions – Limited Partners 2 1
Distributions:    
OP Units – General Partner (507,111) (487,483)
Preference Units (1,320) (2,319)
OP Units – Limited Partners (15,629) (15,233)
Noncontrolling Interests – Partially Owned Properties (2,741) (3,230)
Net cash provided by (used for) financing activities (817,185) (487,231)
Net increase (decrease) in cash and cash equivalents and restricted deposits (1,574) (12,530)
Cash and cash equivalents and restricted deposits, beginning of period 139,995 137,172
Cash and cash equivalents and restricted deposits, end of period 138,421 124,642
Cash and cash equivalents 38,298 35,701
Restricted deposits 100,123 88,941
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 120,955 125,518
Net cash paid (received) for income and other taxes 877 911
Amortization of deferred financing costs:    
Investment in real estate, net   (211)
Other assets 1,392 1,392
Mortgage notes payable, net 524 895
Notes, net 1,920 1,920
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 1,412 616
Notes, net 1,124 1,124
Amortization of deferred settlements on derivative instruments:    
Other liabilities (6) (6)
Accumulated other comprehensive income 1,210 2,201
Write-off of pursuit costs:    
Investment in real estate, net 319 316
Investments in unconsolidated entities 866 1,111
Other assets 184 566
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 2,736 1,972
Other liabilities 636 633
Realized/unrealized (gain) loss on derivative instruments:    
Other assets   3,359
Other liabilities   695
Accumulated other comprehensive income   4,054
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net 2,592 2,988
Investments in unconsolidated entities (4,302) (3,991)
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (28,133) (24,633)
Other liabilities (660) (780)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets   (7,105)
Lease liabilities   7,105
Non-cash share distribution and other transfers from unconsolidated entities:    
Investments in unconsolidated entities   539
Other assets   (539)
Non-cash change in Supplemental Executive Retirement Plan (SERP) balances:    
Other assets 3,437 3,110
Other liabilities 2,839 3,258
Paid in capital (598) 148
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 488,587 364,933
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 450,093 437,185
Amortization of deferred financing costs 3,836 3,996
Amortization of discounts and premiums on debt 2,536 1,740
Amortization of deferred settlements on derivative instruments 1,204 2,195
Amortization of right-of-use assets 6,470 6,357
Write-off of pursuit costs 1,369 1,993
(Income) loss from investments in unconsolidated entities 3,372 2,605
Distributions from unconsolidated entities – return on capital 281 290
Net (gain) loss on sales of real estate properties (227,994) (100,122)
Realized (gain) loss on investment securities 1,316 87
Unrealized (gain) loss on investment securities (5,745)  
Compensation paid with Company Common Shares 21,350 20,845
Changes in assets and liabilities:    
(Increase) decrease in other assets 30,297 (13,258)
Increase (decrease) in accounts payable and accrued expenses 18,780 25,424
Increase (decrease) in accrued interest payable (131) (72)
Increase (decrease) in lease liabilities (1,020) (658)
Increase (decrease) in other liabilities 22,697 (8,047)
Increase (decrease) in security deposits 670 487
Net cash provided by operating activities 817,968 745,980
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (63,507) (186,676)
Investment in real estate – development/other (55,253) (46,815)
Capital expenditures to real estate (153,304) (135,247)
Non-real estate capital additions (921) (1,043)
Interest capitalized for real estate and unconsolidated entities under development (6,894) (6,979)
Proceeds from disposition of real estate, net 330,128 133,916
Investments in unconsolidated entities - acquisitions (31,286) (989)
Investments in unconsolidated entities - development/other (28,793) (25,413)
Distributions from unconsolidated entities – return of capital 16 15
Purchase of investment securities and other investments   (2,500)
Proceeds from sale of investment securities 7,457 452
Net cash provided by (used for) investing activities (2,357) (271,279)
Mortgage notes payable, net:    
Proceeds   22,896
Lump sum payoffs   (64,722)
Scheduled principal repayments   (54)
Line of credit and commercial paper:    
Commercial paper proceeds 3,532,753 2,382,619
Commercial paper repayments (3,771,000) (2,328,100)
Finance ground lease principal payments (1,438) (1,329)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 2,449 2,124
Proceeds from exercise of EQR options 6,480 11,358
OP Units repurchased and retired (38,474)  
Redemption of Preference Units (20,125)  
Premium on redemption of Preference Units (1,444)  
Other financing activities, net (45) (31)
Acquisition of Noncontrolling Interests – Partially Owned Properties   (3,737)
Contributions – Noncontrolling Interests – Partially Owned Properties 458 9
Contributions – Limited Partners 2 1
Distributions:    
OP Units – General Partner (507,111) (487,483)
Preference Units (1,320) (2,319)
OP Units – Limited Partners (15,629) (15,233)
Noncontrolling Interests – Partially Owned Properties (2,741) (3,230)
Net cash provided by (used for) financing activities (817,185) (487,231)
Net increase (decrease) in cash and cash equivalents and restricted deposits (1,574) (12,530)
Cash and cash equivalents and restricted deposits, beginning of period 139,995 137,172
Cash and cash equivalents and restricted deposits, end of period 138,421 124,642
Cash and cash equivalents 38,298 35,701
Restricted deposits 100,123 88,941
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 120,955 125,518
Net cash paid (received) for income and other taxes 877 911
Amortization of deferred financing costs:    
Investment in real estate, net   (211)
Other assets 1,392 1,392
Mortgage notes payable, net 524 895
Notes, net 1,920 1,920
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 1,412 616
Notes, net 1,124 1,124
Amortization of deferred settlements on derivative instruments:    
Other liabilities (6) (6)
Accumulated other comprehensive income 1,210 2,201
Write-off of pursuit costs:    
Investment in real estate, net 319 316
Investments in unconsolidated entities 866 1,111
Other assets 184 566
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 2,736 1,972
Other liabilities 636 633
Realized/unrealized (gain) loss on derivative instruments:    
Other assets   (3,359)
Other liabilities   (695)
Accumulated other comprehensive income   4,054
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (2,592) (2,988)
Investments in unconsolidated entities (4,302) (3,991)
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (28,133) (24,633)
Other liabilities (660) (780)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets   (7,105)
Lease liabilities   7,105
Non-cash share distribution and other transfers from unconsolidated entities:    
Investments in unconsolidated entities   539
Other assets   (539)
Non-cash change in Supplemental Executive Retirement Plan (SERP) balances:    
Other assets 3,437 3,110
Other liabilities (2,839) (3,258)
Paid in capital $ (598) $ 148