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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
Mar. 31, 2014
Mar. 31, 2013
REVENUES    
Rental income $ 630,725,000 $ 502,562,000
Fee and asset management 2,717,000 2,160,000
Total revenues 633,442,000 504,722,000
EXPENSES    
Property and maintenance 125,573,000 98,529,000
Real estate taxes and insurance 82,094,000 65,095,000
Property management 22,118,000 22,489,000
Fee and asset management 1,662,000 1,646,000
Depreciation 185,167,000 196,222,000
General and administrative 17,576,000 16,495,000
Total expenses 434,190,000 400,476,000
Operating Income 199,252,000 104,246,000
Interest and other income 605,000 320,000
Other expenses (657,000) (21,719,000)
Interest:    
Expense incurred, net (113,049,000) (194,467,000)
Amortization of deferred financing costs (2,792,000) (6,948,000)
Income (loss) before income and other taxes, (loss) from investments in unconsolidated entities, net (loss) on sales of land parcels and discontinued operations 83,359,000 (118,568,000)
Income and other tax (expense) benefit (222,000) (405,000)
(Loss) from investments in unconsolidated entities (1,409,000) (46,366,000)
Net (loss) on sales of land parcels (30,000) 0
Income (loss) from continuing operations 81,698,000 (165,339,000)
Discontinued operations, net 1,034,000 1,226,373,000
Net income 82,732,000 1,061,034,000
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (504,000) (25,000)
Net income attributable to controlling interests 79,135,000 1,017,686,000
Earnings per Unit - basic:    
Income (loss) from continuing operations available to Units $ 0.214 $ (0.473)
Net income available to Units $ 0.217 $ 3.012
Earnings per Unit - diluted:    
Income (loss) from continuing operations available to Units $ 0.213 $ (0.473)
Net income available to Units $ 0.216 $ 3.012
OPERATING PARTNERSHIP
   
REVENUES    
Rental income 630,725,000 502,562,000
Fee and asset management 2,717,000 2,160,000
Total revenues 633,442,000 504,722,000
EXPENSES    
Property and maintenance 125,573,000 98,529,000
Real estate taxes and insurance 82,094,000 65,095,000
Property management 22,118,000 22,489,000
Fee and asset management 1,662,000 1,646,000
Depreciation 185,167,000 196,222,000
General and administrative 17,576,000 16,495,000
Total expenses 434,190,000 400,476,000
Operating Income 199,252,000 104,246,000
Interest and other income 605,000 320,000
Other expenses (657,000) (21,719,000)
Interest:    
Expense incurred, net (113,049,000) (194,467,000)
Amortization of deferred financing costs (2,792,000) (6,948,000)
Income (loss) before income and other taxes, (loss) from investments in unconsolidated entities, net (loss) on sales of land parcels and discontinued operations 83,359,000 (118,568,000)
Income and other tax (expense) benefit (222,000) (405,000)
(Loss) from investments in unconsolidated entities (1,409,000) (46,366,000)
Net (loss) on sales of land parcels (30,000) 0
Income (loss) from continuing operations 81,698,000 (165,339,000)
Discontinued operations, net 1,034,000 1,226,373,000
Net income 82,732,000 1,061,034,000
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (504,000) (25,000)
Net income attributable to controlling interests 82,228,000 1,061,009,000
ALLOCATION OF NET INCOME:    
Preference Units 1,036,000 1,036,000
General Partner 78,099,000 1,016,650,000
Limited Partners 3,093,000 43,323,000
Net income available to Units $ 81,192,000 $ 1,059,973,000
Earnings per Unit - basic:    
Income (loss) from continuing operations available to Units $ 0.214 $ (0.473)
Net income available to Units $ 0.217 $ 3.012
Weighted average Units outstanding 374,201 351,255
Earnings per Unit - diluted:    
Income (loss) from continuing operations available to Units $ 0.213 $ (0.473)
Net income available to Units $ 0.216 $ 3.012
Weighted average Units outstanding 376,384 351,255
Distributions declared per Unit outstanding $ 0.50 $ 0.40