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EPLP - Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Rental and other property $ 462,089 $ 424,215
Management and other fees from affiliates 2,494 2,713
Revenues 464,583 426,928
Expenses:    
Property operating, excluding real estate taxes 86,027 79,578
Real estate taxes 52,594 46,920
Corporate-level property management expenses 12,332 11,099
Depreciation and amortization 151,287 139,733
General and administrative 16,292 17,171
Expensed acquisition and investment related costs 0 68
Total expenses 318,532 294,569
Gain on sale of real estate and land 111,030 0
Earnings from operations 257,081 132,359
Interest expense (62,732) (55,933)
Total return swap income 1,200 796
Interest and other income 4,289 57,275
Equity income from co-investments 13,209 12,366
Tax benefit (expense) on unconsolidated co-investments 163 (49)
Loss on early retirement of debt (762) 0
Gain on remeasurement of co-investment 330 138,326
Net income 212,778 285,140
Net income attributable to noncontrolling interest (9,668) (12,409)
Net income available to common stockholders 203,110 272,731
Comprehensive income 203,423 293,135
Comprehensive income attributable to noncontrolling interest (9,348) (12,681)
Comprehensive income attributable to controlling interest $ 194,075 $ 280,454
Basic:    
Net income available to common unitholders (in dollars per share) $ 3.16 $ 4.25
Weighted average number of common units outstanding during the period (in shares) 64,314,899 64,205,086
Diluted:    
Net income available to common unitholders (in dollars per share) $ 3.16 $ 4.25
Weighted average number of common units outstanding during the period (in shares) 64,349,899 64,212,006
Essex Portfolio, L.P.    
Revenues:    
Rental and other property $ 462,089 $ 424,215
Management and other fees from affiliates 2,494 2,713
Revenues 464,583 426,928
Expenses:    
Property operating, excluding real estate taxes 86,027 79,578
Real estate taxes 52,594 46,920
Corporate-level property management expenses 12,332 11,099
Depreciation and amortization 151,287 139,733
General and administrative 16,292 17,171
Expensed acquisition and investment related costs 0 68
Total expenses 318,532 294,569
Gain on sale of real estate and land 111,030 0
Earnings from operations 257,081 132,359
Interest expense (62,732) (55,933)
Total return swap income 1,200 796
Interest and other income 4,289 57,275
Equity income from co-investments 13,209 12,366
Tax benefit (expense) on unconsolidated co-investments 163 (49)
Loss on early retirement of debt (762) 0
Gain on remeasurement of co-investment 330 138,326
Net income 212,778 285,140
Net income attributable to noncontrolling interest (2,389) (2,810)
Net income available to common stockholders 210,389 282,330
Comprehensive income 203,423 293,135
Comprehensive income attributable to noncontrolling interest (2,389) (2,810)
Comprehensive income attributable to controlling interest $ 201,034 $ 290,325
Basic:    
Net income available to common unitholders (in dollars per share) $ 3.16 $ 4.25
Weighted average number of common units outstanding during the period (in shares) 66,621,852 66,463,899
Diluted:    
Net income available to common unitholders (in dollars per share) $ 3.16 $ 4.25
Weighted average number of common units outstanding during the period (in shares) 66,656,852 66,470,819