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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 806,995 $ 1,396,714 $ 962,501
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 882,168 838,272 820,832
Amortization of deferred financing costs 8,729 8,737 8,939
Amortization of above/below market lease intangibles   (154) (71)
Amortization of discounts and premiums on debt 5,004 5,302 5,231
Amortization of deferred settlements on derivative instruments 11,059 9,382 35,075
Amortization of right-of-use assets 12,157 13,266 11,682
Impairment   16,769  
Write-off of pursuit costs 4,780 6,526 6,869
(Income) loss from investments in unconsolidated entities 5,031 3,398 3,284
Distributions from unconsolidated entities – return on capital 398 56 100
Net (gain) loss on sales of real estate properties (304,325) (1,072,183) (531,807)
Net (gain) loss on sales of land parcels   (5) (34,234)
Net (gain) loss on debt extinguishment     26,150
Realized/unrealized (gain) loss on derivative instruments     50
Realized (gain) loss on sale of investment securities (2,061) (23,432)  
Compensation paid with Company Common Shares 29,513 27,810 23,174
Other operating activities, net     1,805
Changes in assets and liabilities:      
(Increase) decrease in other assets 10,893 5,906 (53,021)
Increase (decrease) in accounts payable and accrued expenses (266) 15,381 470
Increase (decrease) in accrued interest payable (3,200) 3,614 (956)
Increase (decrease) in lease liabilities (1,524) (5,122) (2,204)
Increase (decrease) in other liabilities (13,394) 4,286 (8,751)
Increase (decrease) in security deposits 2,799 5,661 (9,582)
Net cash provided by operating activities 1,454,756 1,260,184 1,265,536
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment in real estate – acquisitions (113,046) (1,712,131) (48,898)
Investment in real estate – development/other (109,345) (206,421) (230,332)
Capital expenditures to real estate (221,086) (151,019) (135,979)
Non-real estate capital additions (4,050) (1,696) (20,100)
Interest capitalized for real estate and unconsolidated entities under development (7,105) (15,932) (10,165)
Proceeds from disposition of real estate, net 720,302 1,707,747 1,113,972
Investments in unconsolidated entities – acquisitions (49,855) (48,534)  
Investments in unconsolidated entities - development/other (109,846) (31,257) (5,775)
Distributions from unconsolidated entities – return of capital 300 1,516 1,636
Purchase of investment securities and other investments (2,061) (168,291) (773)
Proceeds from sale of investment securities 3,584 191,398  
Net cash provided by (used for) investing activities 107,792 (434,620) 663,586
CASH FLOWS FROM FINANCING ACTIVITIES:      
Debt financing costs (9,894) (6,446) (2,923)
Mortgage notes payable, net:      
Proceeds 48,054 58,428 519,204
Lump sum payoffs (286,461) (156,815) (160,522)
Scheduled principal repayments (3,392) (7,465) (7,759)
Notes, net:      
Proceeds   497,470  
Lump sum payoffs (500,000)   (750,000)
Line of credit and commercial paper:      
Line of credit proceeds   10,000 1,870,000
Line of credit repayments   (10,000) (1,890,000)
Commercial paper proceeds 6,036,083 7,590,200 7,450,997
Commercial paper repayments (6,221,158) (7,690,000) (8,034,000)
Proceeds from (payments on) settlement of derivative instruments     (1,240)
Finance ground lease principal payments (2,463) (365)  
Proceeds from sale of OP Units 139,623    
Proceeds from Employee Share Purchase Plan (ESPP) 4,178 4,265 4,508
Proceeds from exercise of EQR options 25,069 85,445 12,275
Payment of offering costs (783) (428)  
Other financing activities, net (63) (63) (63)
Acquisition of Noncontrolling Interests - Partially Owned Properties (32,178)    
Contributions – Noncontrolling Interests – Partially Owned Properties 603 1,394 417
Contributions – Limited Partners 1   13
Distributions:      
OP Units – General Partner (931,783) (900,468) (883,938)
Preference Units (2,318) (3,090) (3,090)
OP Units – Limited Partners (30,324) (31,316) (32,403)
Noncontrolling Interests – Partially Owned Properties (18,406) (5,802) (11,719)
Net cash provided by (used for) financing activities (1,785,612) (565,056) (1,946,393)
Net increase (decrease) in cash and cash equivalents and restricted deposits (223,064) 260,508 (17,271)
Cash and cash equivalents and restricted deposits, beginning of year 360,236 99,728 116,999
Cash and cash equivalents and restricted deposits, end of year 137,172 360,236 99,728
Cash and cash equivalents 53,869 123,832 42,591
Restricted deposits 83,303 236,404 57,137
SUPPLEMENTAL INFORMATION:      
Cash paid for interest, net of amounts capitalized 267,612 252,838 320,854
Net cash paid (received) for income and other taxes 748 1,179 (1,038)
Amortization of deferred financing costs:      
Investment in real estate, net (506) (353) (240)
Other assets 2,768 2,338 2,338
Mortgage notes payable, net 2,080 2,743 1,815
Notes, net 4,387 4,009 5,026
Amortization of discounts and premiums on debt:      
Mortgage notes payable, net 2,184 2,764 2,234
Notes, net 2,820 2,538 2,997
Amortization of deferred settlements on derivative instruments:      
Other liabilities (12) (12) (12)
Accumulated other comprehensive income 11,071 9,394 35,087
Write-off of pursuit costs:      
Investment in real estate, net 1,150 5,918 6,566
Investments in unconsolidated entities 2,898    
Other assets 732 582 271
Accounts payable and accrued expenses   26 32
(Income) loss from investments in unconsolidated entities:      
Investments in unconsolidated entities 3,778 2,122 1,995
Other liabilities 1,253 1,276 1,289
Realized/unrealized (gain) loss on derivative instruments:      
Other assets (21,865)    
Other liabilities 1,211   1,240
Accumulated other comprehensive income 20,654   (1,190)
Interest capitalized for real estate and unconsolidated entities under development:      
Investment in real estate, net 2,365 15,318 10,165
Investments in unconsolidated entities 4,740 614  
Investments in unconsolidated entities - development/other:      
Investments in unconsolidated entities (108,556) (30,642) (4,275)
Debt financing costs:      
Other assets (9,566) 229 (231)
Mortgage notes payable, net (228) (2,344) (2,692)
Notes, net (100) (4,331)  
Right-of-use assets and lease liabilities initial measurement and reclassifications:      
Right-of-use assets (400) 11,308  
Lease liabilities 400 (11,308)  
Non-cash share distribution and other transfers from unconsolidated entities:      
Investments in unconsolidated entities 4,201 1,430  
Other assets (4,201) (1,430)  
Mortgage Notes Payable, Net [Member]      
Mortgage notes payable, net:      
Net gain (loss) on debt extinguishment     (327)
Notes, net:      
Net gain (loss) on debt extinguishment     (327)
Notes, Net [Member]      
Mortgage notes payable, net:      
Net gain (loss) on debt extinguishment     (25,823)
Notes, net:      
Net gain (loss) on debt extinguishment     (25,823)
ERPOP [Member]      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income 806,995 1,396,714 962,501
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 882,168 838,272 820,832
Amortization of deferred financing costs 8,729 8,737 8,939
Amortization of above/below market lease intangibles   (154) (71)
Amortization of discounts and premiums on debt 5,004 5,302 5,231
Amortization of deferred settlements on derivative instruments 11,059 9,382 35,075
Amortization of right-of-use assets 12,157 13,266 11,682
Impairment   16,769  
Write-off of pursuit costs 4,780 6,526 6,869
(Income) loss from investments in unconsolidated entities 5,031 3,398 3,284
Distributions from unconsolidated entities – return on capital 398 56 100
Net (gain) loss on sales of real estate properties (304,325) (1,072,183) (531,807)
Net (gain) loss on sales of land parcels   (5) (34,234)
Net (gain) loss on debt extinguishment     26,150
Realized/unrealized (gain) loss on derivative instruments     50
Realized (gain) loss on sale of investment securities (2,061) (23,432)  
Compensation paid with Company Common Shares 29,513 27,810 23,174
Other operating activities, net     1,805
Changes in assets and liabilities:      
(Increase) decrease in other assets 10,893 5,906 (53,021)
Increase (decrease) in accounts payable and accrued expenses (266) 15,381 470
Increase (decrease) in accrued interest payable (3,200) 3,614 (956)
Increase (decrease) in lease liabilities (1,524) (5,122) (2,204)
Increase (decrease) in other liabilities (13,394) 4,286 (8,751)
Increase (decrease) in security deposits 2,799 5,661 (9,582)
Net cash provided by operating activities 1,454,756 1,260,184 1,265,536
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment in real estate – acquisitions (113,046) (1,712,131) (48,898)
Investment in real estate – development/other (109,345) (206,421) (230,332)
Capital expenditures to real estate (221,086) (151,019) (135,979)
Non-real estate capital additions (4,050) (1,696) (20,100)
Interest capitalized for real estate and unconsolidated entities under development (7,105) (15,932) (10,165)
Proceeds from disposition of real estate, net 720,302 1,707,747 1,113,972
Investments in unconsolidated entities – acquisitions (49,855) (48,534)  
Investments in unconsolidated entities - development/other (109,846) (31,257) (5,775)
Distributions from unconsolidated entities – return of capital 300 1,516 1,636
Purchase of investment securities and other investments (2,061) (168,291) (773)
Proceeds from sale of investment securities 3,584 191,398  
Net cash provided by (used for) investing activities 107,792 (434,620) 663,586
CASH FLOWS FROM FINANCING ACTIVITIES:      
Debt financing costs (9,894) (6,446) (2,923)
Mortgage notes payable, net:      
Proceeds 48,054 58,428 519,204
Lump sum payoffs (286,461) (156,815) (160,522)
Scheduled principal repayments (3,392) (7,465) (7,759)
Notes, net:      
Proceeds   497,470  
Lump sum payoffs (500,000)   (750,000)
Line of credit and commercial paper:      
Line of credit proceeds   10,000 1,870,000
Line of credit repayments   (10,000) (1,890,000)
Commercial paper proceeds 6,036,083 7,590,200 7,450,997
Commercial paper repayments (6,221,158) (7,690,000) (8,034,000)
Proceeds from (payments on) settlement of derivative instruments     (1,240)
Finance ground lease principal payments (2,463) (365)  
Proceeds from sale of OP Units 139,623    
Proceeds from Employee Share Purchase Plan (ESPP) 4,178 4,265 4,508
Proceeds from exercise of EQR options 25,069 85,445 12,275
Payment of offering costs (783) (428)  
Other financing activities, net (63) (63) (63)
Acquisition of Noncontrolling Interests - Partially Owned Properties (32,178)    
Contributions – Noncontrolling Interests – Partially Owned Properties 603 1,394 417
Contributions – Limited Partners 1   13
Distributions:      
OP Units – General Partner (931,783) (900,468) (883,938)
Preference Units (2,318) (3,090) (3,090)
OP Units – Limited Partners (30,324) (31,316) (32,403)
Noncontrolling Interests – Partially Owned Properties (18,406) (5,802) (11,719)
Net cash provided by (used for) financing activities (1,785,612) (565,056) (1,946,393)
Net increase (decrease) in cash and cash equivalents and restricted deposits (223,064) 260,508 (17,271)
Cash and cash equivalents and restricted deposits, beginning of year 360,236 99,728 116,999
Cash and cash equivalents and restricted deposits, end of year 137,172 360,236 99,728
Cash and cash equivalents 53,869 123,832 42,591
Restricted deposits 83,303 236,404 57,137
SUPPLEMENTAL INFORMATION:      
Cash paid for interest, net of amounts capitalized 267,612 252,838 320,854
Net cash paid (received) for income and other taxes 748 1,179 (1,038)
Amortization of deferred financing costs:      
Investment in real estate, net (506) (353) (240)
Other assets 2,768 2,338 2,338
Mortgage notes payable, net 2,080 2,743 1,815
Notes, net 4,387 4,009 5,026
Amortization of discounts and premiums on debt:      
Mortgage notes payable, net 2,184 2,764 2,234
Notes, net 2,820 2,538 2,997
Amortization of deferred settlements on derivative instruments:      
Other liabilities (12) (12) (12)
Accumulated other comprehensive income 11,071 9,394 35,087
Write-off of pursuit costs:      
Investment in real estate, net 1,150 5,918 6,566
Investments in unconsolidated entities 2,898    
Other assets 732 582 271
Accounts payable and accrued expenses   26 32
(Income) loss from investments in unconsolidated entities:      
Investments in unconsolidated entities 3,778 2,122 1,995
Other liabilities 1,253 1,276 1,289
Realized/unrealized (gain) loss on derivative instruments:      
Other assets (21,865)    
Other liabilities 1,211   1,240
Accumulated other comprehensive income 20,654   (1,190)
Interest capitalized for real estate and unconsolidated entities under development:      
Investment in real estate, net (2,365) (15,318) (10,165)
Investments in unconsolidated entities (4,740) (614)  
Investments in unconsolidated entities - development/other:      
Investment in real estate, net   1,395  
Investments in unconsolidated entities (108,556) (30,642) (4,275)
Other liabilities (1,290) (2,010) (1,500)
Debt financing costs:      
Other assets (9,566) 229 (231)
Mortgage notes payable, net (228) (2,344) (2,692)
Notes, net (100) (4,331)  
Right-of-use assets and lease liabilities initial measurement and reclassifications:      
Right-of-use assets 400 (11,308)  
Lease liabilities 400 (11,308)  
Non-cash share distribution and other transfers from unconsolidated entities:      
Investments in unconsolidated entities 4,201 1,430  
Other assets $ (4,201) $ (1,430)  
ERPOP [Member] | Mortgage Notes Payable, Net [Member]      
Mortgage notes payable, net:      
Net gain (loss) on debt extinguishment     (327)
Notes, net:      
Net gain (loss) on debt extinguishment     (327)
ERPOP [Member] | Notes, Net [Member]      
Mortgage notes payable, net:      
Net gain (loss) on debt extinguishment     (25,823)
Notes, net:      
Net gain (loss) on debt extinguishment     $ (25,823)