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CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Rental income $ 768,827 $ 734,163 $ 1,529,637 $ 1,464,981
EXPENSES        
Property and maintenance 136,274 126,498 280,247 261,128
Real estate taxes and insurance 112,332 105,571 224,084 214,498
Property management 34,786 33,511 70,602 68,969
General and administrative 18,531 18,631 36,786 34,351
Depreciation 240,889 224,398 497,635 450,093
Total expenses 542,812 508,609 1,109,354 1,029,039
Net gain (loss) on sales of real estate properties 58,280 39,809 212,432 227,994
Interest and other income 2,129 1,328 3,821 10,657
Other expenses (4,805) (13,385) (8,961) (45,123)
Interest:        
Expense incurred, net (75,317) (65,828) (147,431) (133,040)
Amortization of deferred financing costs (2,103) (1,918) (4,247) (3,836)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 204,199 185,560 475,897 492,594
Income and other tax (expense) benefit (407) (331) (829) (635)
Income (loss) from investments in unconsolidated entities (4,996) (1,674) (11,407) (3,372)
Net gain (loss) on sales of land parcels     (78)  
Net income 198,785 183,555 463,583 488,587
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,203) (1,069) (2,307) (2,039)
Net income attributable to controlling interests $ 192,356 $ 177,483 $ 448,948 473,270
ALLOCATION OF NET INCOME:        
Premium on redemption of Preference Units       $ 1,444
Earnings per Unit – basic:        
Net income available to Units $ 0.51 $ 0.47 $ 1.18 $ 1.24
Earnings per Unit – diluted:        
Net income available to Units $ 0.5 $ 0.47 $ 1.18 $ 1.24
Weighted average Units outstanding 391,498 390,542 391,345 390,548
ERPOP [Member]        
REVENUES        
Rental income $ 768,827 $ 734,163 $ 1,529,637 $ 1,464,981
EXPENSES        
Property and maintenance 136,274 126,498 280,247 261,128
Real estate taxes and insurance 112,332 105,571 224,084 214,498
Property management 34,786 33,511 70,602 68,969
General and administrative 18,531 18,631 36,786 34,351
Depreciation 240,889 224,398 497,635 450,093
Total expenses 542,812 508,609 1,109,354 1,029,039
Net gain (loss) on sales of real estate properties 58,280 39,809 212,432 227,994
Interest and other income 2,129 1,328 3,821 10,657
Other expenses (4,805) (13,385) (8,961) (45,123)
Interest:        
Expense incurred, net (75,317) (65,828) (147,431) (133,040)
Amortization of deferred financing costs (2,103) (1,918) (4,247) (3,836)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 204,199 185,560 475,897 492,594
Income and other tax (expense) benefit (407) (331) (829) (635)
Income (loss) from investments in unconsolidated entities (4,996) (1,674) (11,407) (3,372)
Net gain (loss) on sales of land parcels (11)   (78)  
Net income 198,785 183,555 463,583 488,587
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,203) (1,069) (2,307) (2,039)
Net income attributable to controlling interests 197,582 182,486 461,276 486,548
ALLOCATION OF NET INCOME:        
Preference Units 355 355 711 902
Premium on redemption of Preference Units       1,444
General Partner 192,001 177,128 448,237 470,924
Limited Partners 5,226 5,003 12,328 13,278
Net income available to Units $ 197,227 $ 182,131 $ 460,565 $ 484,202
Earnings per Unit – basic:        
Net income available to Units $ 0.51 $ 0.47 $ 1.18 $ 1.24
Weighted average Units outstanding 389,837 389,271 389,779 389,380
Earnings per Unit – diluted:        
Net income available to Units $ 0.5 $ 0.47 $ 1.18 $ 1.24
Weighted average Units outstanding 391,498 390,542 391,345 390,548