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CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
REVENUES      
Rental income $ 2,422,233 $ 2,736,578 $ 2,605,311
Fee and asset management 3,567 8,387 9,437
Total revenues 2,425,800 2,744,965 2,614,748
EXPENSES      
Property and maintenance 406,823 479,160 473,098
Real estate taxes and insurance 317,387 339,802 325,401
Property management 82,015 86,206 85,065
General and administrative 57,840 64,664 50,679
Depreciation 705,649 765,895 758,861
Total expenses 1,569,714 1,735,727 1,693,104
Operating income 856,086 1,009,238 921,644
Interest and other income 65,773 7,372 4,462
Other expenses (10,368) (2,942) (9,073)
Interest:      
Expense incurred, net (482,246) (444,487) (457,460)
Amortization of deferred financing costs (12,633) (10,801) (11,088)
Income before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations 416,612 558,380 448,485
Income and other tax (expense) benefit (1,613) (917) (1,394)
Income (loss) from investments in unconsolidated entities 4,801 15,025 (7,952)
Net gain on sales of real estate properties 4,044,055 335,134 212,685
Net gain (loss) on sales of land parcels 15,731 (1) 5,277
Income from continuing operations 4,479,586 907,621 657,101
Discontinued operations, net 518 397 1,582
Net income 4,480,104 908,018 658,683
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (16,430) (3,657) (2,544)
Net income attributable to controlling interests 4,292,163 870,120 631,308
ALLOCATION OF NET INCOME:      
Premium on redemption of Preference Units $ 0 $ (3,486) $ 0
Earnings per Unit – basic:      
Income from continuing operations available to Units $ 11.75 $ 2.37 $ 1.73
Net income available to Units 11.75 2.37 1.74
Earnings per Unit – diluted:      
Income from continuing operations available to Units 11.68 2.36 1.72
Net income available to Units $ 11.68 $ 2.36 $ 1.73
Weighted average Units outstanding 381,992 380,620 377,735
ERPOP [Member]      
REVENUES      
Rental income $ 2,422,233 $ 2,736,578 $ 2,605,311
Fee and asset management 3,567 8,387 9,437
Total revenues 2,425,800 2,744,965 2,614,748
EXPENSES      
Property and maintenance 406,823 479,160 473,098
Real estate taxes and insurance 317,387 339,802 325,401
Property management 82,015 86,206 85,065
General and administrative 57,840 64,664 50,679
Depreciation 705,649 765,895 758,861
Total expenses 1,569,714 1,735,727 1,693,104
Operating income 856,086 1,009,238 921,644
Interest and other income 65,773 7,372 4,462
Other expenses (10,368) (2,942) (9,073)
Interest:      
Expense incurred, net (482,246) (444,487) (457,460)
Amortization of deferred financing costs (12,633) (10,801) (11,088)
Income before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations 416,612 558,380 448,485
Income and other tax (expense) benefit (1,613) (917) (1,394)
Income (loss) from investments in unconsolidated entities 4,801 15,025 (7,952)
Net gain on sales of real estate properties 4,044,055 335,134 212,685
Net gain (loss) on sales of land parcels 15,731 (1) 5,277
Income from continuing operations 4,479,586 907,621 657,101
Discontinued operations, net 518 397 1,582
Net income 4,480,104 908,018 658,683
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (16,430) (3,657) (2,544)
Net income attributable to controlling interests 4,463,674 904,361 656,139
ALLOCATION OF NET INCOME:      
Preference Units 3,091 3,357 4,145
Premium on redemption of Preference Units 0 3,486 0
General Partner 4,289,072 863,277 627,163
Limited Partners 171,511 34,241 24,831
Net income available to Units $ 4,460,583 $ 897,518 $ 651,994
Earnings per Unit – basic:      
Income from continuing operations available to Units $ 11.75 $ 2.37 $ 1.73
Net income available to Units $ 11.75 $ 2.37 $ 1.74
Weighted average Units outstanding 378,829 377,074 374,899
Earnings per Unit – diluted:      
Income from continuing operations available to Units $ 11.68 $ 2.36 $ 1.72
Net income available to Units $ 11.68 $ 2.36 $ 1.73
Weighted average Units outstanding 381,992 380,620 377,735
Distributions declared per Unit outstanding $ 13.015 $ 2.21 $ 2.00