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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 305,032 $ 220,071
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 225,695 215,830
Amortization of deferred financing costs 1,918 1,979
Amortization of discounts and premiums on debt 1,267 868
Amortization of deferred settlements on derivative instruments 608 1,092
Amortization of right-of-use assets 3,231 3,150
Write-off of pursuit costs 548 1,332
(Income) loss from investments in unconsolidated entities 1,698 1,382
Distributions from unconsolidated entities – return on capital 159 151
Net (gain) loss on sales of real estate properties (188,185) (100,209)
Realized (gain) loss on investment securities   87
Unrealized (gain) loss on investment securities (7,061)  
Compensation paid with Company Common Shares 9,469 9,044
Changes in assets and liabilities:    
(Increase) decrease in other assets 22,737 26,257
Increase (decrease) in accounts payable and accrued expenses 54,289 45,357
Increase (decrease) in accrued interest payable (16,526) (16,534)
Increase (decrease) in lease liabilities (499) (334)
Increase (decrease) in other liabilities 7,011 (16,032)
Increase (decrease) in security deposits (360) (212)
Net cash provided by operating activities 421,031 393,279
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (837)  
Investment in real estate – development/other (25,491) (16,786)
Capital expenditures to real estate (73,520) (55,392)
Non-real estate capital additions (534) (600)
Interest capitalized for real estate and unconsolidated entities under development (3,150) (3,393)
Proceeds from disposition of real estate, net 247,334 133,916
Investments in unconsolidated entities - development/other (7,812) (14,480)
Distributions from unconsolidated entities – return of capital 16 6
Proceeds from sale of investment securities   452
Net cash provided by (used for) investing activities 136,006 43,723
Mortgage notes payable, net:    
Proceeds 0 14,090
Lump sum payoffs 0  
Scheduled principal repayments   (40)
Line of credit and commercial paper:    
Commercial paper proceeds 1,186,790 1,323,145
Commercial paper repayments (1,370,000) (1,453,100)
Finance ground lease principal payments (719) (665)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 1,644 1,452
Proceeds from exercise of EQR options 4,401 8,112
Redemption of Preference Units (20,125)  
Other financing activities, net (7)  
Contributions – Noncontrolling Interests – Partially Owned Properties 235  
Contributions – Limited Partners 2  
Distributions:    
OP Units – General Partner (251,334) (236,561)
Preference Units (964) (1,544)
OP Units – Limited Partners (8,154) (7,380)
Noncontrolling Interests – Partially Owned Properties (2,323) (2,598)
Net cash provided by (used for) financing activities (500,472) (355,089)
Net increase (decrease) in cash and cash equivalents and restricted deposits 56,565 81,913
Cash and cash equivalents and restricted deposits, beginning of period 139,995 137,172
Cash and cash equivalents and restricted deposits, end of period 196,560 219,085
Cash and cash equivalents 44,535 133,460
Restricted deposits 152,025 85,625
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 77,149 79,693
Net cash paid (received) for income and other taxes 410 348
Amortization of deferred financing costs:    
Investment in real estate, net   (127)
Other assets 696 697
Mortgage notes payable, net 262 449
Notes, net 960 960
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 706 306
Notes, net 561 562
Amortization of deferred settlements on derivative instruments:    
Other liabilities (2) (3)
Accumulated other comprehensive income 610 1,095
Write-off of pursuit costs:    
Investment in real estate, net 128 225
Investments in unconsolidated entities 355 649
Other assets 65 458
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,390 1,071
Other liabilities 308 311
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 (1,159) (1,422)
Investments in unconsolidated entities (1,991) (1,971)
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (7,152) (13,700)
Other liabilities (660) (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
Other assets   (539)
Non-cash change in Supplemental Executive Retirement Plan (SERP) balances:    
Other assets 4,561 8,373
Other liabilities (4,334) (8,864)
Paid in capital (227) 491
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 305,032 220,071
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 225,695 215,830
Amortization of deferred financing costs 1,918 1,979
Amortization of discounts and premiums on debt 1,267 868
Amortization of deferred settlements on derivative instruments 608 1,092
Amortization of right-of-use assets 3,231 3,150
Write-off of pursuit costs 548 1,332
(Income) loss from investments in unconsolidated entities 1,698 1,382
Distributions from unconsolidated entities – return on capital 159 151
Net (gain) loss on sales of real estate properties (188,185) (100,209)
Realized (gain) loss on investment securities   87
Unrealized (gain) loss on investment securities (7,061)  
Compensation paid with Company Common Shares 9,469 9,044
Changes in assets and liabilities:    
(Increase) decrease in other assets 22,737 26,257
Increase (decrease) in accounts payable and accrued expenses 54,289 45,357
Increase (decrease) in accrued interest payable (16,526) (16,534)
Increase (decrease) in lease liabilities (499) (334)
Increase (decrease) in other liabilities 7,011 (16,032)
Increase (decrease) in security deposits (360) (212)
Net cash provided by operating activities 421,031 393,279
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (837)  
Investment in real estate – development/other (25,491) (16,786)
Capital expenditures to real estate (73,520) (55,392)
Non-real estate capital additions (534) (600)
Interest capitalized for real estate and unconsolidated entities under development (3,150) (3,393)
Proceeds from disposition of real estate, net 247,334 133,916
Investments in unconsolidated entities - development/other (7,812) (14,480)
Distributions from unconsolidated entities – return of capital 16 6
Proceeds from sale of investment securities   452
Net cash provided by (used for) investing activities 136,006 43,723
Mortgage notes payable, net:    
Proceeds   14,090
Scheduled principal repayments   (40)
Line of credit and commercial paper:    
Commercial paper proceeds 1,186,790 1,323,145
Commercial paper repayments (1,370,000) (1,453,100)
Finance ground lease principal payments (719) (665)
Proceeds from EQR's Employee Share Purchase Plan (ESPP) 1,644 1,452
Proceeds from exercise of EQR options 4,401 8,112
OP Units repurchased and retired (38,474)  
Redemption of Preference Units (20,125)  
Premium on redemption of Preference Units (1,444)  
Other financing activities, net (7)  
Contributions – Noncontrolling Interests – Partially Owned Properties 235  
Contributions – Limited Partners 2  
Distributions:    
OP Units – General Partner (251,334) (236,561)
Preference Units (964) (1,544)
OP Units – Limited Partners (8,154) (7,380)
Noncontrolling Interests – Partially Owned Properties (2,323) (2,598)
Net cash provided by (used for) financing activities (500,472) (355,089)
Net increase (decrease) in cash and cash equivalents and restricted deposits 56,565 81,913
Cash and cash equivalents and restricted deposits, beginning of period 139,995 137,172
Cash and cash equivalents and restricted deposits, end of period 196,560 219,085
Cash and cash equivalents 44,535 133,460
Restricted deposits 152,025 85,625
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 77,149 79,693
Net cash paid (received) for income and other taxes 410 348
Amortization of deferred financing costs:    
Investment in real estate, net   (127)
Other assets 696 697
Mortgage notes payable, net 262 449
Notes, net 960 960
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 706 306
Notes, net 561 562
Amortization of deferred settlements on derivative instruments:    
Other liabilities (2) (3)
Accumulated other comprehensive income 610 1,095
Write-off of pursuit costs:    
Investment in real estate, net 128 225
Investments in unconsolidated entities 355 649
Other assets 65 458
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 1,390 1,071
Other liabilities 308 311
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 (1,159) (1,422)
Investments in unconsolidated entities (1,991) (1,971)
Investments in unconsolidated entities - development/other:    
Investments in unconsolidated entities (7,152) (13,700)
Other liabilities (660) (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
Other assets   (539)
Non-cash change in Supplemental Executive Retirement Plan (SERP) balances:    
Other assets 4,561 8,373
Other liabilities (4,334) (8,864)
Paid in capital $ (227) $ 491