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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,731,831 $ 190,224
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 172,885 194,521
Amortization of deferred financing costs 5,394 2,589
Amortization of above/below market leases 851 846
Amortization of discounts and premiums on debt (19,563) (3,751)
Amortization of deferred settlements on derivative instruments 28,585 4,205
Write-off of pursuit costs 1,448 493
Loss (income) from investments in unconsolidated entities 1,104 (2,963)
Distributions from unconsolidated entities – return on capital 655 516
Net (gain) on sales of investment securities and other investments (556) 0
Net (gain) on sales of real estate properties (3,723,479) (79,951)
Net (gain) loss on sales of land parcels (11,722) 1
Net (gain) on sales of discontinued operations (15) 0
Realized/unrealized loss on derivative instruments 0 24
Compensation paid with Company Common Shares 9,967 13,610
Changes in assets and liabilities:    
Decrease in deposits – restricted 7,823 290
(Increase) in mortgage deposits (455) (456)
Decrease (increase) in other assets 17,175 (4,237)
Increase in accounts payable and accrued expenses 32,964 45,450
(Decrease) in accrued interest payable (15,817) (4,870)
(Decrease) in other liabilities (23,703) (8,307)
(Decrease) in security deposits (13,990) (339)
Net cash provided by operating activities 201,382 347,895
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (160,680) (6,720)
Investment in real estate – development/other (150,164) (146,194)
Capital expenditures to real estate (33,902) (38,170)
Non-real estate capital additions (1,205) (469)
Interest capitalized for real estate under development (14,246) (15,313)
Proceeds from disposition of real estate, net 6,303,904 142,931
Investments in unconsolidated entities (900) (2,410)
Distributions from unconsolidated entities – return of capital 336 18,969
Proceeds from sale of investment securities and other investments 1,430 0
(Increase) in deposits on real estate acquisitions and investments, net (193,533) (131,787)
Decrease (increase) in mortgage deposits 196 (59)
Net cash provided by (used for) investing activities 5,751,236 (179,222)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (397) 0
Mortgage deposits (2,150) (2,059)
Mortgage notes payable, net:    
Lump sum payoffs (482,601) (121,326)
Scheduled principal repayments (2,208) (2,746)
Notes, net:    
Lump sum payoffs (1,500,000) 0
Line of credit and commercial paper:    
Line of credit proceeds 246,000 1,997,000
Line of credit repayments (246,000) (2,200,000)
Commercial paper proceeds 1,324,784 1,155,228
Commercial paper repayments (1,712,472) (814,600)
(Payments on) settlement of derivative instruments 0 (25)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 982 1,927
Proceeds from exercise of options 20,687 32,213
Redemption of Preference Units 0 (9,820)
Premium on redemption of Preference Units 0 (2,789)
Other financing activities, net (138) 0
Contributions – Limited Partners 1 1
Distributions:    
Noncontrolling Interests – Partially Owned Properties (26,781) (2,891)
Net cash (used for) financing activities (5,626,845) (159,335)
Net increase in cash and cash equivalents 325,773 9,338
Cash and cash equivalents, beginning of period 42,276 40,080
Cash and cash equivalents, end of period 368,049 49,418
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 220,385 113,113
Net cash paid for income and other taxes 524 718
Real estate acquisitions/dispositions/other:    
Mortgage loans assumed 43,400 0
Amortization of deferred financing costs:    
Other assets 763 764
Mortgage notes payable, net 1,868 843
Notes, net 2,763 982
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net (21,515) (4,567)
Notes, net 1,540 618
Line of credit and commercial paper 412 198
Amortization of deferred settlements on derivative instruments:    
Other liabilities (69) (133)
Accumulated other comprehensive income 28,654 4,338
Write-off of pursuit costs:    
Investment in real estate, net 982 434
Other assets 389 59
Accounts payable and accrued expenses 77 0
Loss (income) from investments in unconsolidated entities:    
Investments in unconsolidated entities 709 (3,625)
Other liabilities 395 662
Realized/unrealized loss on derivative instruments:    
Other assets (6,878) (4,963)
Notes, net 6,878 4,842
Other liabilities 2,906 11,933
Unrealized holding (losses) arising during the period (2,906) (11,788)
Investments in unconsolidated entities:    
Investments in unconsolidated entities 0 (130)
Other liabilities (900) (2,280)
Debt financing costs [Abstract]    
Payments of Financing Costs (397) 0
Other:    
Foreign currency translation adjustments (75) 420
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 3,731,831 190,224
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 172,885 194,521
Amortization of deferred financing costs 5,394 2,589
Amortization of above/below market leases 851 846
Amortization of discounts and premiums on debt (19,563) (3,751)
Amortization of deferred settlements on derivative instruments 28,585 4,205
Write-off of pursuit costs 1,448 493
Loss (income) from investments in unconsolidated entities 1,104 (2,963)
Distributions from unconsolidated entities – return on capital 655 516
Net (gain) on sales of investment securities and other investments (556) 0
Net (gain) on sales of real estate properties (3,723,479) (79,951)
Net (gain) loss on sales of land parcels (11,722) 1
Net (gain) on sales of discontinued operations (15) 0
Realized/unrealized loss on derivative instruments 0 24
Compensation paid with Company Common Shares 9,967 13,610
Changes in assets and liabilities:    
Decrease in deposits – restricted 7,823 290
(Increase) in mortgage deposits (455) (456)
Decrease (increase) in other assets 17,175 (4,237)
Increase in accounts payable and accrued expenses 32,964 45,450
(Decrease) in accrued interest payable (15,817) (4,870)
(Decrease) in other liabilities (23,703) (8,307)
(Decrease) in security deposits (13,990) (339)
Net cash provided by operating activities 201,382 347,895
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (160,680) (6,720)
Investment in real estate – development/other (150,164) (146,194)
Capital expenditures to real estate (33,902) (38,170)
Non-real estate capital additions (1,205) (469)
Interest capitalized for real estate under development (14,246) (15,313)
Proceeds from disposition of real estate, net 6,303,904 142,931
Investments in unconsolidated entities (900) (2,410)
Distributions from unconsolidated entities – return of capital 336 18,969
Proceeds from sale of investment securities and other investments 1,430 0
(Increase) in deposits on real estate acquisitions and investments, net (193,533) (131,787)
Decrease (increase) in mortgage deposits 196 (59)
Net cash provided by (used for) investing activities 5,751,236 (179,222)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (397) 0
Mortgage deposits (2,150) (2,059)
Mortgage notes payable, net:    
Lump sum payoffs (482,601) (121,326)
Scheduled principal repayments (2,208) (2,746)
Notes, net:    
Lump sum payoffs (1,500,000) 0
Line of credit and commercial paper:    
Line of credit proceeds 246,000 1,997,000
Line of credit repayments (246,000) (2,200,000)
Commercial paper proceeds 1,324,784 1,155,228
Commercial paper repayments (1,712,472) (814,600)
(Payments on) settlement of derivative instruments 0 (25)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 982 1,927
Proceeds from exercise of options 20,687 32,213
Redemption of Preference Units 0 (9,820)
Premium on redemption of Preference Units 0 (2,789)
Other financing activities, net (138) 0
Contributions – Limited Partners 1 1
Distributions:    
OP Units – General Partner (3,122,652) (181,408)
Preference Units (773) (891)
OP Units – Limited Partners (123,127) (7,149)
Noncontrolling Interests – Partially Owned Properties (26,781) (2,891)
Net cash (used for) financing activities (5,626,845) (159,335)
Net increase in cash and cash equivalents 325,773 9,338
Cash and cash equivalents, beginning of period 42,276 40,080
Cash and cash equivalents, end of period 368,049 49,418
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 220,385 113,113
Net cash paid for income and other taxes 524 718
Real estate acquisitions/dispositions/other:    
Mortgage loans assumed 43,400 0
Amortization of deferred financing costs:    
Other assets 763 764
Mortgage notes payable, net 1,868 843
Notes, net 2,763 982
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net (21,515) (4,567)
Notes, net 1,540 618
Line of credit and commercial paper 412 198
Amortization of deferred settlements on derivative instruments:    
Other liabilities (69) (133)
Accumulated other comprehensive income 28,654 4,338
Write-off of pursuit costs:    
Investment in real estate, net 982 434
Other assets 389 59
Loss (income) from investments in unconsolidated entities:    
Investments in unconsolidated entities 709 (3,625)
Other liabilities 395 662
Realized/unrealized loss on derivative instruments:    
Other assets (6,878) (4,963)
Notes, net 6,878 4,842
Other liabilities 2,906 11,933
Unrealized holding (losses) arising during the period (2,906) (11,788)
Investments in unconsolidated entities:    
Investments in unconsolidated entities 0 (130)
Other liabilities (900) (2,280)
Debt financing costs [Abstract]    
Payments of Financing Costs (397) 0
Other:    
Foreign currency translation adjustments (75) 420
Land [Member] | ERPOP [Member]    
Write-off of pursuit costs:    
Accounts payable and accrued expenses $ 77 $ 0