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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, 2024
Mar. 31, 2023
REVENUES    
Rental income $ 730,818 $ 705,088
EXPENSES    
Property and maintenance 134,630 137,579
Real estate taxes and insurance 108,927 106,669
Property management 35,458 31,466
General and administrative 15,720 16,165
Depreciation 225,695 215,830
Total expenses 520,430 507,709
Net gain (loss) on sales of real estate properties 188,185 100,209
Interest and other income 9,329 1,538
Other expenses (31,738) (8,995)
Interest:    
Expense incurred, net (67,212) (66,401)
Amortization of deferred financing costs (1,918) (1,979)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 307,034 221,751
Income and other tax (expense) benefit (304) (298)
Income (loss) from investments in unconsolidated entities (1,698) (1,382)
Net income 305,032 220,071
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (970) (977)
Net income attributable to controlling interests 295,787 $ 212,035
ALLOCATION OF NET INCOME:    
Premium on redemption of Preference Units $ 1,444  
Earnings per Unit – basic:    
Net income available to Units $ 0.78 $ 0.56
Earnings per Unit – diluted:    
Net income available to Units $ 0.77 $ 0.56
Weighted average Units outstanding 390,561 390,664
ERPOP [Member]    
REVENUES    
Rental income $ 730,818 $ 705,088
EXPENSES    
Property and maintenance 134,630 137,579
Real estate taxes and insurance 108,927 106,669
Property management 35,458 31,466
General and administrative 15,720 16,165
Depreciation 225,695 215,830
Total expenses 520,430 507,709
Net gain (loss) on sales of real estate properties 188,185 100,209
Interest and other income 9,329 1,538
Other expenses (31,738) (8,995)
Interest:    
Expense incurred, net (67,212) (66,401)
Amortization of deferred financing costs (1,918) (1,979)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 307,034 221,751
Income and other tax (expense) benefit (304) (298)
Income (loss) from investments in unconsolidated entities (1,698) (1,382)
Net income 305,032 220,071
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (970) (977)
Net income attributable to controlling interests 304,062 219,094
ALLOCATION OF NET INCOME:    
Preference Units 547 772
Premium on redemption of Preference Units 1,444  
General Partner 293,796 211,263
Limited Partners 8,275 7,059
Net income available to Units $ 302,071 $ 218,322
Earnings per Unit – basic:    
Net income available to Units $ 0.78 $ 0.56
Weighted average Units outstanding 389,481 389,851
Earnings per Unit – diluted:    
Net income available to Units $ 0.77 $ 0.56
Weighted average Units outstanding 390,561 390,664