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CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
REVENUES        
Rental income $ 626,880,000 $ 448,647,000 $ 1,749,374,000 $ 1,295,431,000
Fee and asset management 2,566,000 3,052,000 7,399,000 7,328,000
Total revenues 629,446,000 451,699,000 1,756,773,000 1,302,759,000
EXPENSES        
Property and maintenance 119,632,000 86,682,000 333,202,000 254,009,000
Real estate taxes and insurance 76,255,000 53,064,000 218,777,000 154,633,000
Property management 18,875,000 18,493,000 63,395,000 62,769,000
Fee and asset management 1,516,000 1,108,000 4,739,000 3,595,000
Depreciation 277,336,000 139,337,000 798,121,000 422,148,000
General and administrative 14,438,000 10,083,000 47,018,000 37,162,000
Total expenses 508,052,000 308,767,000 1,465,252,000 934,316,000
Operating Income 121,394,000 142,932,000 291,521,000 368,443,000
Interest and other income 816,000 70,087,000 1,320,000 70,514,000
Other expenses (3,986,000) (3,984,000) (7,530,000) (18,587,000)
Merger Expenses (182,000) (87,000) (19,741,000) (1,921,000)
Interest:        
Expense incurred, net (120,035,000) (113,222,000) (437,452,000) (345,476,000)
Amortization of deferred financing costs (4,335,000) (3,320,000) (15,636,000) (10,265,000)
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain (loss) on sales of unconsolidated entities and land parcels and discontinued operations (6,328,000) 92,406,000 (187,518,000) 62,708,000
Income and other tax (expense) benefit (493,000) (222,000) (1,326,000) (602,000)
(Loss) from investments in unconsolidated entities due to operations (1,454,000) (3,000) (2,984,000) (3,000)
(Loss) from investments in unconsolidated entities due to merger expenses (1,771,000) 0 (54,781,000) 0
Net Gain on Sales of Unconsolidated Entities 16,000 0 16,000 0
Net gain (loss) on sales of land parcels (2,437,000) 0 12,179,000 0
(Loss) income from continuing operations (12,467,000) 92,181,000 (234,414,000) 62,103,000
Discontinued operations, net 404,184,000 144,142,000 2,023,897,000 434,702,000
Net income 391,717,000 236,323,000 1,789,483,000 496,805,000
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties 311,000 312,000 1,101,000 (457,000)
Net income attributable to controlling interests 377,192,000 226,139,000 1,719,637,000 474,702,000
ALLOCATION OF NET INCOME:        
Redemption Premium 0 (5,150,000) 0 (5,150,000)
Earnings per Unit - basic:        
(Loss) income from continuing operations available to Common Shares $ (0.035) $ 0.269 $ (0.644) $ 0.150
Net income available to Units $ 1.045 $ 0.725 $ 4.871 $ 1.534
Earnings per Unit - diluted:        
Income (Loss) from Continuing Operations, Per Diluted Share $ (0.035) $ 0.267 $ (0.644) $ 0.149
Net income available to Units $ 1.045 $ 0.719 $ 4.871 $ 1.519
Weighted average Units outstanding 359,811   352,414  
OPERATING PARTNERSHIP
       
REVENUES        
Rental income 626,880,000 448,647,000 1,749,374,000 1,295,431,000
Fee and asset management 2,566,000 3,052,000 7,399,000 7,328,000
Total revenues 629,446,000 451,699,000 1,756,773,000 1,302,759,000
EXPENSES        
Property and maintenance 119,632,000 86,682,000 333,202,000 254,009,000
Real estate taxes and insurance 76,255,000 53,064,000 218,777,000 154,633,000
Property management 18,875,000 18,493,000 63,395,000 62,769,000
Fee and asset management 1,516,000 1,108,000 4,739,000 3,595,000
Depreciation 277,336,000 139,337,000 798,121,000 422,148,000
General and administrative 14,438,000 10,083,000 47,018,000 37,162,000
Total expenses 508,052,000 308,767,000 1,465,252,000 934,316,000
Operating Income 121,394,000 142,932,000 291,521,000 368,443,000
Interest and other income 816,000 70,087,000 1,320,000 70,514,000
Other expenses (3,986,000) (3,984,000) (7,530,000) (18,587,000)
Merger Expenses (182,000) (87,000) (19,741,000) (1,921,000)
Interest:        
Expense incurred, net (120,035,000) (113,222,000) (437,452,000) (345,476,000)
Amortization of deferred financing costs (4,335,000) (3,320,000) (15,636,000) (10,265,000)
(Loss) income before income and other taxes, (loss) from investments in unconsolidated entities, net gain (loss) on sales of unconsolidated entities and land parcels and discontinued operations (6,328,000) 92,406,000 (187,518,000) 62,708,000
Income and other tax (expense) benefit (493,000) (222,000) (1,326,000) (602,000)
(Loss) from investments in unconsolidated entities due to operations (1,454,000) (3,000) (2,984,000) (3,000)
(Loss) from investments in unconsolidated entities due to merger expenses (1,771,000) 0 (54,781,000) 0
Net Gain on Sales of Unconsolidated Entities 16,000 0 16,000 0
Net gain (loss) on sales of land parcels (2,437,000) 0 12,179,000 0
(Loss) income from continuing operations (12,467,000) 92,181,000 (234,414,000) 62,103,000
Discontinued operations, net 404,184,000 144,142,000 2,023,897,000 434,702,000
Net income 391,717,000 236,323,000 1,789,483,000 496,805,000
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties 311,000 312,000 1,101,000 (457,000)
Net income attributable to controlling interests 392,028,000 236,635,000 1,790,584,000 496,348,000
ALLOCATION OF NET INCOME:        
Preference Units 1,037,000 2,386,000 3,109,000 9,319,000
Redemption Premium 0 (5,150,000) 0 (5,150,000)
General Partner 376,155,000 218,603,000 1,716,528,000 460,233,000
Limited Partners 14,836,000 10,496,000 70,947,000 21,646,000
Net income available to Units $ 390,991,000 $ 229,099,000 $ 1,787,475,000 $ 481,879,000
Earnings per Unit - basic:        
(Loss) income from continuing operations available to Common Shares $ (0.035) $ 0.269 $ (0.644) $ 0.150
Net income available to Units $ 1.045 $ 0.725 $ 4.871 $ 1.534
Weighted average Units outstanding 373,547 315,513 366,150 313,932
Earnings per Unit - diluted:        
Income (Loss) from Continuing Operations, Per Diluted Share $ (0.035) $ 0.267 $ (0.644) $ 0.149
Net income available to Units $ 1.045 $ 0.719 $ 4.871 $ 1.519
Weighted average Units outstanding 373,547 318,773 366,150 317,265
Distributions declared per Unit outstanding $ 0.40 $ 0.3375 $ 1.20 $ 1.0125