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EPLP - Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Rental and other property $ 470,942 $ 448,135 $ 1,400,641 $ 1,312,132
Management and other fees from affiliates 2,361 2,563 7,078 7,849
Total revenues 473,303 450,698 1,407,719 1,319,981
Expenses:        
Property operating, excluding real estate taxes 91,413 85,836 263,834 244,636
Real estate taxes 52,023 48,956 153,652 143,188
Corporate-level property management expenses 12,216 11,610 36,768 34,331
Depreciation and amortization 151,489 146,439 454,277 431,785
General and administrative 18,058 29,067 51,507 67,374
Expensed acquisition and investment related costs 25 0 25 68
Total expenses 325,224 321,908 960,063 921,382
Gain on sale of real estate and land 62,320 0 299,524 0
Earnings from operations 210,399 128,790 747,180 398,599
Interest expense (64,660) (59,232) (192,654) (174,285)
Total return swap income 1,329 807 3,600 2,232
Interest and other income 5,900 11,449 16,997 78,292
Equity income from co-investments 17,798 11,649 39,984 33,667
Tax benefit on unconsolidated technology co-investments 1,958 441 2,353 1,199
Loss on early retirement of debt 0 0 (762) 0
Gain on remeasurement of co-investment 0 31,583 330 169,909
Net income 172,724 125,487 617,028 509,613
Net income attributable to noncontrolling interest (8,103) (7,063) (27,935) (25,544)
Net income available to common stockholders 164,621 118,424 589,093 484,069
Comprehensive income 168,771 104,054 599,641 493,688
Comprehensive income attributable to noncontrolling interest (7,969) (6,333) (27,347) (25,001)
Comprehensive income attributable to controlling interest $ 160,802 $ 97,721 $ 572,294 $ 468,687
Basic:        
Net income available to common unitholders (in dollars per share) $ 2.56 $ 1.84 $ 9.15 $ 7.54
Weighted average number of common units outstanding during the period (in shares) 64,404,008 64,227,662 64,368,625 64,214,258
Diluted:        
Net income available to common unitholders (in dollars per share) $ 2.56 $ 1.84 $ 9.15 $ 7.54
Weighted average number of common units outstanding during the period (in shares) 64,418,240 64,271,459 64,392,244 64,234,358
Essex Portfolio, L.P.        
Revenues:        
Rental and other property $ 470,942 $ 448,135 $ 1,400,641 $ 1,312,132
Management and other fees from affiliates 2,361 2,563 7,078 7,849
Total revenues 473,303 450,698 1,407,719 1,319,981
Expenses:        
Property operating, excluding real estate taxes 91,413 85,836 263,834 244,636
Real estate taxes 52,023 48,956 153,652 143,188
Corporate-level property management expenses 12,216 11,610 36,768 34,331
Depreciation and amortization 151,489 146,439 454,277 431,785
General and administrative 18,058 29,067 51,507 67,374
Expensed acquisition and investment related costs 25 0 25 68
Total expenses 325,224 321,908 960,063 921,382
Gain on sale of real estate and land 62,320 0 299,524 0
Earnings from operations 210,399 128,790 747,180 398,599
Interest expense (64,660) (59,232) (192,654) (174,285)
Total return swap income 1,329 807 3,600 2,232
Interest and other income 5,900 11,449 16,997 78,292
Equity income from co-investments 17,798 11,649 39,984 33,667
Tax benefit on unconsolidated technology co-investments 1,958 441 2,353 1,199
Loss on early retirement of debt 0 0 (762) 0
Gain on remeasurement of co-investment 0 31,583 330 169,909
Net income 172,724 125,487 617,028 509,613
Net income attributable to noncontrolling interest (2,336) (2,857) (7,108) (8,469)
Net income available to common stockholders 170,388 122,630 609,920 501,144
Comprehensive income 168,771 104,054 599,641 493,688
Comprehensive income attributable to noncontrolling interest (2,336) (2,857) (7,108) (8,469)
Comprehensive income attributable to controlling interest $ 166,435 $ 101,197 $ 592,533 $ 485,219
Basic:        
Net income available to common unitholders (in dollars per share) $ 2.56 $ 1.84 $ 9.15 $ 7.54
Weighted average number of common units outstanding during the period (in shares) 66,660,423 66,508,041 66,643,952 66,480,312
Diluted:        
Net income available to common unitholders (in dollars per share) $ 2.56 $ 1.84 $ 9.15 $ 7.54
Weighted average number of common units outstanding during the period (in shares) 66,674,655 66,551,838 66,667,571 66,500,412