Equity, Capital and Other Interests (Tables)

12 Months Ended

Dec. 31, 2017

Changes in Issued and Outstanding Common Shares and Units

The following tables present the changes in the Company’s issued and outstanding Common Shares and “Units” (which includes OP Units and restricted units) for the years ended December 31, 2017, 2016 and 2015:

	2017			2016			2015
Common Shares
Common Shares outstanding at January 1,		365,870,924			364,755,444			362,855,454
Common Shares Issued:
Conversion of OP Units		1,149,284			88,838			208,307
Exercise of share options		846,137			815,044			1,456,363
Employee Share Purchase Plan (ESPP)		68,286			63,909			68,462
Restricted share grants, net		83,451			147,689			168,142
Common Shares Other:
Conversion of restricted shares to restricted units		—			—			(1,284	)
Common Shares outstanding at December 31,		368,018,082			365,870,924			364,755,444
Units
Units outstanding at January 1,		14,626,075			14,427,164			14,298,691
Restricted unit grants, net		291,647			287,749			335,496
Conversion of restricted shares to restricted units		—			—			1,284
Conversion of OP Units to Common Shares		(1,149,284	)		(88,838	)		(208,307	)
Units outstanding at December 31,		13,768,438			14,626,075			14,427,164
Total Common Shares and Units outstanding at December 31,		381,786,520			380,496,999			379,182,608
Units Ownership Interest in Operating Partnership		3.6	%		3.8	%		3.8	%

Changes in Redemption Value of Redeemable Noncontrolling Interests and Limited Partners Interest

The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership for the years ended December 31, 2017, 2016 and 2015, respectively (amounts in thousands):

	2017			2016			2015
Balance at January 1,	$	442,092		$	566,783		$	500,733
Change in market value		(41,916	)		(115,093	)		64,378
Change in carrying value		(33,221	)		(9,598	)		1,672
Balance at December 31,	$	366,955		$	442,092		$	566,783

Issued and Outstanding Preferred Shares and Preference Units

The following table presents the Company’s issued and outstanding Preferred Shares as of December 31, 2017 and 2016:

				Amounts in thousands
		Annual
	Call	Dividend Per		December 31,		December 31,
	Date (1)	Share (2)		2017		2016
Preferred Shares of beneficial interest, $0.01 par value;   100,000,000 shares authorized:
8.29% Series K Cumulative Redeemable Preferred;    liquidation value $50 per share; 745,600 shares issued and    outstanding as of December 31, 2017 and 2016	12/10/26	$	4.145	$	37,280	$	37,280
				$	37,280	$	37,280

(1) On or after the call date, redeemable preferred shares may be redeemed for cash at the option of the Company, in whole or in part, at a redemption price equal to the liquidation price per share, plus accrued and unpaid distributions, if any.

(2) Dividends on Preferred Shares are payable quarterly.

During 2015, the Company repurchased and retired 254,400 Series K Preferred Shares with a par value of $12.7 million for total cash consideration of approximately $16.3 million.  As a result of this partial redemption, the Company incurred a cash charge of approximately $3.5 million which was recorded as a premium on the redemption of Preferred Shares.

ERPOP [Member]

Changes in Issued and Outstanding Common Shares and Units

The following tables present the changes in the Operating Partnership’s issued and outstanding Units and in the limited partners’ Units for the years ended December 31, 2017, 2016 and 2015:

	2017			2016			2015
General and Limited Partner Units
General and Limited Partner Units outstanding at January 1,		380,496,999			379,182,608			377,154,145
Issued to General Partner:
Exercise of EQR share options		846,137			815,044			1,456,363
EQR’s Employee Share Purchase Plan (ESPP)		68,286			63,909			68,462
EQR’s restricted share grants, net		83,451			147,689			168,142
Issued to Limited Partners:
Restricted unit grants, net		291,647			287,749			335,496
General and Limited Partner Units outstanding at December 31,		381,786,520			380,496,999			379,182,608
Limited Partner Units
Limited Partner Units outstanding at January 1,		14,626,075			14,427,164			14,298,691
Limited Partner restricted unit grants, net		291,647			287,749			335,496
Conversion of EQR restricted shares to restricted units		—			—			1,284
Conversion of Limited Partner OP Units to EQR Common Shares		(1,149,284	)		(88,838	)		(208,307	)
Limited Partner Units outstanding at December 31,		13,768,438			14,626,075			14,427,164
Limited Partner Units Ownership Interest in Operating Partnership		3.6	%		3.8	%		3.8	%

Changes in Redemption Value of Redeemable Noncontrolling Interests and Limited Partners Interest

The following table presents the changes in the redemption value of the Redeemable Limited Partners for the years ended December 31, 2017, 2016 and 2015, respectively (amounts in thousands):

	2017			2016			2015
Balance at January 1,	$	442,092		$	566,783		$	500,733
Change in market value		(41,916	)		(115,093	)		64,378
Change in carrying value		(33,221	)		(9,598	)		1,672
Balance at December 31,	$	366,955		$	442,092		$	566,783

Issued and Outstanding Preferred Shares and Preference Units

The following table presents the Operating Partnership’s issued and outstanding “Preference Units” as of December 31, 2017 and 2016:

				Amounts in thousands
		Annual
	Call	Dividend Per		December 31,		December 31,
	Date (1)	Unit (2)		2017		2016
Preference Units:
8.29% Series K Cumulative Redeemable Preference Units;    liquidation value $50 per unit; 745,600 units issued and    outstanding as of December 31, 2017 and 2016	12/10/26	$	4.145	$	37,280	$	37,280
				$	37,280	$	37,280

(1) On or after the call date, redeemable preference units may be redeemed for cash at the option of the Operating Partnership, in whole or in part, at a redemption price equal to the liquidation price per unit, plus accrued and unpaid distributions, if any, in conjunction with the concurrent redemption of the corresponding Company Preferred Shares.

(2) Dividends on Preference Units are payable quarterly.

During 2015, the Operating Partnership repurchased and retired 254,400 Series K Preference Units with a par value of $12.7 million for total cash consideration of approximately $16.3 million, in conjunction with the concurrent redemption of the corresponding Company Preferred Shares.  As a result of this partial redemption, the Operating Partnership incurred a cash charge of approximately $3.5 million which was recorded as a premium of the redemption of Preference Units.