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CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES    
Rental income$ 509,030$ 451,832$ 1,470,398$ 1,311,377
Fee and asset management2,9282,1286,6827,596
Total revenues511,958453,9601,477,0801,318,973
EXPENSES    
Property and maintenance106,635104,259314,768303,916
Real estate taxes and insurance59,08356,205168,056160,307
Property management19,24119,01462,38959,770
Fee and asset management1,2506793,2074,242
Depreciation164,552158,318482,039457,822
General and administrative10,12110,22132,46231,029
Total expenses360,882348,6961,062,9211,017,086
Operating income151,076105,264414,159301,887
Interest and other income5,3172016,6085,045
Other expenses(2,528)(3,487)(9,318)(9,513)
Interest:    
Expense incurred, net(113,370)(121,116)(354,960)(348,279)
Amortization of deferred financing costs(4,721)(2,437)(12,129)(7,729)
Income (loss) before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of unconsolidated entities and land parcels and discontinued operations35,774(21,575)44,360(58,589)
Income and other tax (expense) benefit(283)(291)(669)(283)
(Loss) income from investments in unconsolidated entities 188 (735)
Net gain on sales of unconsolidated entities 22,544 28,101
Net gain (loss) on sales of land parcels (1,161)4,217(1,161)
Income (loss) from continuing operations35,491(295)47,908(32,667)
Discontinued operations, net77,48630,121779,888130,438
Net income112,97729,826827,79697,771
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties387(188)418(623)
Net income attributable to controlling interests107,84828,783791,10394,227
OPERATING PARTNERSHIP
    
REVENUES    
Rental income509,030451,8321,470,3981,311,377
Fee and asset management2,9282,1286,6827,596
Total revenues511,958453,9601,477,0801,318,973
EXPENSES    
Property and maintenance106,635104,259314,768303,916
Real estate taxes and insurance59,08356,205168,056160,307
Property management19,24119,01462,38959,770
Fee and asset management1,2506793,2074,242
Depreciation164,552158,318482,039457,822
General and administrative10,12110,22132,46231,029
Total expenses360,882348,6961,062,9211,017,086
Operating income151,076105,264414,159301,887
Interest and other income5,3172016,6085,045
Other expenses(2,528)(3,487)(9,318)(9,513)
Interest:    
Expense incurred, net(113,370)(121,116)(354,960)(348,279)
Amortization of deferred financing costs(4,721)(2,437)(12,129)(7,729)
Income (loss) before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of unconsolidated entities and land parcels and discontinued operations35,774(21,575)44,360(58,589)
Income and other tax (expense) benefit(283)(291)(669)(283)
(Loss) income from investments in unconsolidated entities 188 (735)
Net gain on sales of unconsolidated entities 22,544 28,101
Net gain (loss) on sales of land parcels (1,161)4,217(1,161)
Income (loss) from continuing operations35,491(295)47,908(32,667)
Discontinued operations, net77,48630,121779,888130,438
Net income112,97729,826827,79697,771
Net (income) loss attributable to Noncontrolling Interests - Partially Owned Properties387(188)418(623)
Net income attributable to controlling interests112,59030,014827,37898,394
ALLOCATION OF NET INCOME:    
Preference Units3,4663,61710,39910,855
General Partner104,38225,166780,70483,372
Limited Partners4,7421,23136,2754,167
Net income available to Units$ 109,124$ 26,397$ 816,979$ 87,539
Earnings per Unit - basic:    
Income (loss) from continuing operations available to Units$ 0.10$ (0.01)$ 0.12$ (0.15)
Net income available to Units$ 0.35$ 0.09$ 2.65$ 0.30
Weighted average Units outstanding308,884296,348307,705295,572
Earnings per Unit - diluted:    
Income (loss) from continuing operations available to Units$ 0.10$ (0.01)$ 0.12$ (0.15)
Net income available to Units$ 0.35$ 0.09$ 2.62$ 0.30
Weighted average Units outstanding312,844296,348311,908295,572
Distributions declared per Unit outstanding$ 0.3375$ 0.3375$ 1.0125$ 1.0125