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CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES    
Rental income $ 705,088 $ 653,348
EXPENSES    
Property and maintenance 137,579 124,874
Real estate taxes and insurance 106,669 100,688
Property management 31,466 30,747
General and administrative 16,165 17,238
Depreciation 215,830 229,961
Total expenses 507,709 503,508
Net gain (loss) on sales of real estate properties 100,209 (102)
Operating income 297,588 149,738
Interest and other income 1,538 3,528
Other expenses (8,995) (3,056)
Interest:    
Expense incurred, net (66,401) (72,792)
Amortization of deferred financing costs (1,979) (2,077)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 221,751 75,341
Income and other tax (expense) benefit (298) (282)
Income (loss) from investments in unconsolidated entities (1,382) (1,261)
Net income 220,071 73,798
Partially Owned Properties (977) (639)
Net income attributable to controlling interests $ 212,035 $ 70,765
Earnings per Unit – basic:    
Net income available to Units $ 0.56 $ 0.19
Earnings per Unit – diluted:    
Net income available to Units $ 0.56 $ 0.19
Weighted average Units outstanding 390,664 389,628
ERPOP [Member]    
REVENUES    
Rental income $ 705,088 $ 653,348
EXPENSES    
Property and maintenance 137,579 124,874
Real estate taxes and insurance 106,669 100,688
Property management 31,466 30,747
General and administrative 16,165 17,238
Depreciation 215,830 229,961
Total expenses 507,709 503,508
Net gain (loss) on sales of real estate properties 100,209 (102)
Operating income 297,588 149,738
Interest and other income 1,538 3,528
Other expenses (8,995) (3,056)
Interest:    
Expense incurred, net (66,401) (72,792)
Amortization of deferred financing costs (1,979) (2,077)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 221,751 75,341
Income and other tax (expense) benefit (298) (282)
Income (loss) from investments in unconsolidated entities (1,382) (1,261)
Net income 220,071 73,798
Partially Owned Properties (977) (639)
Net income attributable to controlling interests 219,094 73,159
ALLOCATION OF NET INCOME:    
Preference Units 772 772
General Partner 211,263 69,993
Limited Partners 7,059 2,394
Net income available to Units $ 218,322 $ 72,387
Earnings per Unit – basic:    
Net income available to Units $ 0.56 $ 0.19
Weighted average Units outstanding 389,851 387,397
Earnings per Unit – diluted:    
Net income available to Units $ 0.56 $ 0.19
Weighted average Units outstanding 390,664 389,628