XML 26 R10.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
REVENUES    
Rental income $ 653,348 $ 597,602
EXPENSES    
Property and maintenance 124,874 117,054
Real estate taxes and insurance 100,688 103,470
Property management 30,747 26,130
General and administrative 17,238 15,383
Depreciation 229,961 199,962
Total expenses 503,508 461,999
Net gain (loss) on sales of real estate properties (102) (43)
Operating income 149,738 135,560
Interest and other income 3,528 216
Other expenses (3,056) (4,110)
Interest:    
Expense incurred, net (72,792) (67,358)
Amortization of deferred financing costs (2,077) (2,185)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 75,341 62,123
Income and other tax (expense) benefit (282) (153)
Income (loss) from investments in unconsolidated entities (1,261) (1,611)
Net gain (loss) on sales of land parcels   5
Net income 73,798 60,364
Partially Owned Properties (639) (682)
Net income attributable to controlling interests $ 70,765 $ 57,539
Earnings per Unit – basic:    
Net income available to Units $ 0.19 $ 0.15
Earnings per Unit – diluted:    
Net income available to Units $ 0.19 $ 0.15
Weighted average Units outstanding 389,628 386,916
ERPOP [Member]    
REVENUES    
Rental income $ 653,348 $ 597,602
EXPENSES    
Property and maintenance 124,874 117,054
Real estate taxes and insurance 100,688 103,470
Property management 30,747 26,130
General and administrative 17,238 15,383
Depreciation 229,961 199,962
Total expenses 503,508 461,999
Net gain (loss) on sales of real estate properties (102) (43)
Operating income 149,738 135,560
Interest and other income 3,528 216
Other expenses (3,056) (4,110)
Interest:    
Expense incurred, net (72,792) (67,358)
Amortization of deferred financing costs (2,077) (2,185)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 75,341 62,123
Income and other tax (expense) benefit (282) (153)
Income (loss) from investments in unconsolidated entities (1,261) (1,611)
Net gain (loss) on sales of land parcels   5
Net income 73,798 60,364
Partially Owned Properties (639) (682)
Net income attributable to controlling interests 73,159 59,682
ALLOCATION OF NET INCOME:    
Preference Units 772 773
General Partner 69,993 56,766
Limited Partners 2,394 2,143
Net income available to Units $ 72,387 $ 58,909
Earnings per Unit – basic:    
Net income available to Units $ 0.19 $ 0.15
Weighted average Units outstanding 387,397 385,330
Earnings per Unit – diluted:    
Net income available to Units $ 0.19 $ 0.15
Weighted average Units outstanding 389,628 386,916