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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 220,071 $ 73,798
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 215,830 229,961
Amortization of deferred financing costs 1,979 2,077
Amortization of discounts and premiums on debt 868 1,358
Amortization of deferred settlements on derivative instruments 1,092 2,422
Amortization of right-of-use assets 3,150 3,046
Write-off of pursuit costs 1,332 1,463
(Income) loss from investments in unconsolidated entities 1,382 1,261
Distributions from unconsolidated entities – return on capital 151 79
Net (gain) loss on sales of real estate properties (100,209) 102
Realized (gain) loss on sale of investment securities 87 (2,066)
Compensation paid with Company Common Shares 9,044 9,203
Changes in assets and liabilities:    
(Increase) decrease in other assets 26,257 30,174
Increase (decrease) in accounts payable and accrued expenses 45,357 54,553
Increase (decrease) in accrued interest payable (16,534) (12,634)
Increase (decrease) in lease liabilities (334) (902)
Increase (decrease) in other liabilities (16,032) (27,213)
Increase (decrease) in security deposits (212) 1,374
Net cash provided by operating activities 393,279 368,056
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions   (113,046)
Investment in real estate – development/other (16,786) (24,255)
Capital expenditures to real estate (55,392) (35,285)
Non-real estate capital additions (600) (971)
Interest capitalized for real estate and unconsolidated entities under development (3,393) (1,017)
Proceeds from disposition of real estate, net 133,916  
Investments in unconsolidated entities - development/other (14,480) (24,897)
Distributions from unconsolidated entities – return of capital 6 9
Purchase of investment securities and other investments   (1,009)
Proceeds from sale of investment securities 452 3,434
Net cash provided by (used for) investing activities 43,723 (197,037)
Mortgage notes payable, net:    
Proceeds 14,090 2,689
Scheduled principal repayments (40) (1,933)
Line of credit and commercial paper:    
Commercial paper proceeds 1,323,145 1,424,086
Commercial paper repayments (1,453,100) (1,609,121)
Finance ground lease principal payments (665) (140)
Proceeds from Employee Share Purchase Plan (ESPP) 1,452 969
Proceeds from exercise of EQR options 8,112 14,344
Payment of offering costs   (114)
Contributions – Noncontrolling Interests – Partially Owned Properties   446
Contributions – Limited Partners   1
Distributions:    
OP Units – General Partner (236,561) (226,639)
Preference Units (1,544) (772)
OP Units – Limited Partners (7,380) (7,535)
Noncontrolling Interests – Partially Owned Properties (2,598) (15,836)
Net cash provided by (used for) financing activities (355,089) (419,555)
Net increase (decrease) in cash and cash equivalents and restricted deposits 81,913 (248,536)
Cash and cash equivalents and restricted deposits, beginning of period 137,172 360,236
Cash and cash equivalents and restricted deposits, end of period 219,085 111,700
Cash and cash equivalents 133,460 41,140
Restricted deposits 85,625 70,560
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 79,693 81,391
Net cash paid (received) for income and other taxes 348 350
Amortization of deferred financing costs:    
Investment in real estate, net (127) (127)
Other assets 697 585
Mortgage notes payable, net 449 557
Notes, net 960 1,062
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 306 685
Notes, net 562 673
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (3)
Accumulated other comprehensive income 1,095 2,425
Write-off of pursuit costs:    
Investment in real estate, net 225 375
Investments in unconsolidated entities 649 1,070
Other assets 458 18
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,071 946
Other liabilities 311 315
Realized/unrealized (gain) loss on derivative instruments:    
Other assets 7,410  
Other liabilities 2,370  
Accumulated other comprehensive income (9,780)  
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (1,422) (307)
Investments in unconsolidated entities 1,971 710
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (13,700) (24,897)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets (7,105)  
Lease liabilities 7,105  
Non-cash share distribution and other transfers from unconsolidated entities:    
Investments in unconsolidated entities 539 859
Other assets (539) (859)
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 220,071 73,798
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 215,830 229,961
Amortization of deferred financing costs 1,979 2,077
Amortization of discounts and premiums on debt 868 1,358
Amortization of deferred settlements on derivative instruments 1,092 2,422
Amortization of right-of-use assets 3,150 3,046
Write-off of pursuit costs 1,332 1,463
(Income) loss from investments in unconsolidated entities 1,382 1,261
Distributions from unconsolidated entities – return on capital 151 79
Net (gain) loss on sales of real estate properties (100,209) 102
Realized (gain) loss on sale of investment securities (87) (2,066)
Compensation paid with Company Common Shares 9,044 9,203
Changes in assets and liabilities:    
(Increase) decrease in other assets 26,257 30,174
Increase (decrease) in accounts payable and accrued expenses 45,357 54,553
Increase (decrease) in accrued interest payable (16,534) (12,634)
Increase (decrease) in lease liabilities (334) (902)
Increase (decrease) in other liabilities (16,032) (27,213)
Increase (decrease) in security deposits (212) 1,374
Net cash provided by operating activities 393,279 368,056
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions   (113,046)
Investment in real estate – development/other (16,786) (24,255)
Capital expenditures to real estate (55,392) (35,285)
Non-real estate capital additions (600) (971)
Interest capitalized for real estate and unconsolidated entities under development (3,393) (1,017)
Proceeds from disposition of real estate, net 133,916  
Investments in unconsolidated entities - development/other (14,480) (24,897)
Distributions from unconsolidated entities – return of capital 6 9
Purchase of investment securities and other investments   (1,009)
Proceeds from sale of investment securities 452 3,434
Net cash provided by (used for) investing activities 43,723 (197,037)
Mortgage notes payable, net:    
Proceeds 14,090 2,689
Scheduled principal repayments (40) (1,933)
Line of credit and commercial paper:    
Commercial paper proceeds 1,323,145 1,424,086
Commercial paper repayments (1,453,100) (1,609,121)
Finance ground lease principal payments (665) (140)
Proceeds from Employee Share Purchase Plan (ESPP) 1,452 969
Proceeds from exercise of EQR options 8,112 14,344
Payment of offering costs   (114)
Contributions – Noncontrolling Interests – Partially Owned Properties   446
Contributions – Limited Partners   1
Distributions:    
OP Units – General Partner (236,561) (226,639)
Preference Units (1,544) (772)
OP Units – Limited Partners (7,380) (7,535)
Noncontrolling Interests – Partially Owned Properties (2,598) (15,836)
Net cash provided by (used for) financing activities (355,089) (419,555)
Net increase (decrease) in cash and cash equivalents and restricted deposits 81,913 (248,536)
Cash and cash equivalents and restricted deposits, beginning of period 137,172 360,236
Cash and cash equivalents and restricted deposits, end of period 219,085 111,700
Cash and cash equivalents 133,460 41,140
Restricted deposits 85,625 70,560
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 79,693 81,391
Net cash paid (received) for income and other taxes 348 350
Amortization of deferred financing costs:    
Investment in real estate, net (127) (127)
Other assets 697 585
Mortgage notes payable, net 449 557
Notes, net 562 673
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 306 685
Notes, net 960 1,062
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (3)
Accumulated other comprehensive income 1,095 2,425
Write-off of pursuit costs:    
Investment in real estate, net 225 375
Investments in unconsolidated entities 649 1,070
Other assets 458 18
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,071 946
Other liabilities 311 315
Realized/unrealized (gain) loss on derivative instruments:    
Other assets 7,410  
Other liabilities 2,370  
Accumulated other comprehensive income (9,780)  
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (1,422) (307)
Investments in unconsolidated entities (1,971) (710)
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (13,700) (24,897)
Other liabilities (780)  
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets (7,105)  
Lease liabilities 7,105  
Non-cash share distribution and other transfers from unconsolidated entities:    
Investments in unconsolidated entities 539 859
Other assets $ (539) $ (859)