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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 220,548 $ 149,941
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 196,309 178,968
Amortization of deferred financing costs 3,679 2,296
Amortization of above/below market lease intangibles 1,098 856
Amortization of discounts and premiums on debt 1,532 1,130
Amortization of deferred settlements on derivative instruments 4,788 4,580
Write-off of pursuit costs 931 715
(Income) loss from investments in unconsolidated entities 977 1,073
Distributions from unconsolidated entities – return on capital 615 648
Net (gain) loss on sales of real estate properties (142,213) (36,707)
Net (gain) loss on sales of land parcels   (19,193)
Net (gain) loss on debt extinguishment 22,110 11,698
Compensation paid with Company Common Shares 10,278 7,873
Changes in assets and liabilities:    
(Increase) decrease in other assets (15,396) (11,059)
Increase (decrease) in accounts payable and accrued expenses 48,997 42,472
Increase (decrease) in accrued interest payable 11,718 13,437
Increase (decrease) in other liabilities (4,692) (45,324)
Increase (decrease) in security deposits (261) 500
Net cash provided by operating activities 361,018 303,904
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (54,134)  
Investment in real estate – development/other (40,813) (103,291)
Capital expenditures to real estate (36,747) (39,297)
Non-real estate capital additions (1,191) (289)
Interest capitalized for real estate under development (1,688) (8,238)
Proceeds from disposition of real estate, net 284,670 80,064
Investments in unconsolidated entities (2,799) (1,704)
Distributions from unconsolidated entities – return of capital   113
Net cash provided by (used for) investing activities 147,298 (72,642)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (4,345)  
Mortgage notes payable, net:    
Lump sum payoffs (725,639) (351,774)
Scheduled principal repayments (1,720) (1,964)
Notes, net:    
Proceeds 497,010  
Line of credit and commercial paper:    
Line of credit proceeds 415,000  
Line of credit repayments (415,000)  
Commercial paper proceeds 1,107,561 1,310,188
Commercial paper repayments (1,173,000) (1,015,500)
Proceeds from (payments on) settlement of derivative instruments 1,638  
Proceeds from EQR’s Employee Share Purchase Plan (ESPP) 1,681 1,574
Proceeds from exercise of EQR options 1,600 3,142
Payment of offering costs (26) (21)
Contributions – Noncontrolling Interests – Partially Owned Properties 125 125
Contributions – Limited Partners 1  
Distributions:    
OP Units – General Partner (185,484) (184,302)
Preference Units (773) (1,545)
OP Units – Limited Partners (6,666) (7,218)
Noncontrolling Interests – Partially Owned Properties (4,220) (5,134)
Net cash provided by (used for) financing activities (514,367) (264,127)
Net increase (decrease) in cash and cash equivalents and restricted deposits (6,051) (32,865)
Cash and cash equivalents and restricted deposits, beginning of period 100,762 219,088
Cash and cash equivalents and restricted deposits, end of period 94,711 186,223
Cash and cash equivalents 44,453 42,139
Restricted deposits 50,258 144,084
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 96,404 86,668
Net cash paid for income and other taxes 462 468
Amortization of deferred financing costs:    
Other assets 603 603
Mortgage notes payable, net 2,084 794
Notes, net 992 899
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 897 525
Notes, net 635 605
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (3)
Accumulated other comprehensive income 4,791 4,583
Write-off of pursuit costs:    
Investment in real estate, net 931 685
Other assets   10
Accounts payable and accrued expenses   20
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 627 701
Other liabilities 350 372
Realized/unrealized (gain) loss on derivative instruments:    
Other assets (9,132) 1,106
Notes, net (2,289) (1,106)
Other liabilities 5,334  
Accumulated other comprehensive income 6,087  
Investments in unconsolidated entities:    
Investments in unconsolidated entities (2,079) (804)
Other liabilities (720) (900)
Debt financing costs:    
Notes, net (4,345)  
Proceeds from (payments on) settlement of derivative instruments:    
Other assets 1,638  
Mortgage Notes Payable, Net [Member]    
Mortgage notes payable, net:    
Net gain (loss) on debt extinguishment (22,110) (11,698)
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 220,548 149,941
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 196,309 178,968
Amortization of deferred financing costs 3,679 2,296
Amortization of above/below market lease intangibles 1,098 856
Amortization of discounts and premiums on debt 1,532 1,130
Amortization of deferred settlements on derivative instruments 4,788 4,580
Write-off of pursuit costs 931 715
(Income) loss from investments in unconsolidated entities 977 1,073
Distributions from unconsolidated entities – return on capital 615 648
Net (gain) loss on sales of real estate properties (142,213) (36,707)
Net (gain) loss on sales of land parcels   (19,193)
Net (gain) loss on debt extinguishment 22,110 11,698
Compensation paid with Company Common Shares 10,278 7,873
Changes in assets and liabilities:    
(Increase) decrease in other assets (15,396) (11,059)
Increase (decrease) in accounts payable and accrued expenses 48,997 42,472
Increase (decrease) in accrued interest payable 11,718 13,437
Increase (decrease) in other liabilities (4,692) (45,324)
Increase (decrease) in security deposits (261) 500
Net cash provided by operating activities 361,018 303,904
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (54,134)  
Investment in real estate – development/other (40,813) (103,291)
Capital expenditures to real estate (36,747) (39,297)
Non-real estate capital additions (1,191) (289)
Interest capitalized for real estate under development (1,688) (8,238)
Proceeds from disposition of real estate, net 284,670 80,064
Investments in unconsolidated entities (2,799) (1,704)
Distributions from unconsolidated entities – return of capital   113
Net cash provided by (used for) investing activities 147,298 (72,642)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs (4,345)  
Mortgage notes payable, net:    
Lump sum payoffs (725,639) (351,774)
Scheduled principal repayments (1,720) (1,964)
Notes, net:    
Proceeds 497,010  
Line of credit and commercial paper:    
Line of credit proceeds 415,000  
Line of credit repayments (415,000)  
Commercial paper proceeds 1,107,561 1,310,188
Commercial paper repayments (1,173,000) (1,015,500)
Proceeds from (payments on) settlement of derivative instruments 1,638  
Proceeds from EQR’s Employee Share Purchase Plan (ESPP) 1,681 1,574
Proceeds from exercise of EQR options 1,600 3,142
Payment of offering costs (26) (21)
Contributions – Noncontrolling Interests – Partially Owned Properties 125 125
Contributions – Limited Partners 1  
Distributions:    
OP Units – General Partner (185,484) (184,302)
Preference Units (773) (1,545)
OP Units – Limited Partners (6,666) (7,218)
Noncontrolling Interests – Partially Owned Properties (4,220) (5,134)
Net cash provided by (used for) financing activities (514,367) (264,127)
Net increase (decrease) in cash and cash equivalents and restricted deposits (6,051) (32,865)
Cash and cash equivalents and restricted deposits, beginning of period 100,762 219,088
Cash and cash equivalents and restricted deposits, end of period 94,711 186,223
Cash and cash equivalents 44,453 42,139
Restricted deposits 50,258 144,084
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 96,404 86,668
Net cash paid for income and other taxes 462 468
Amortization of deferred financing costs:    
Other assets 603 603
Mortgage notes payable, net 2,084 794
Notes, net 992 899
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 897 525
Notes, net 635 605
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (3)
Accumulated other comprehensive income 4,791 4,583
Write-off of pursuit costs:    
Investment in real estate, net 931 685
Other assets   10
Accounts payable and accrued expenses   20
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 627 701
Other liabilities 350 372
Realized/unrealized (gain) loss on derivative instruments:    
Other assets (9,132) 1,106
Notes, net (2,289) (1,106)
Other liabilities 5,334  
Accumulated other comprehensive income 6,087  
Investments in unconsolidated entities:    
Investments in unconsolidated entities (2,079) (804)
Other liabilities (720) (900)
Debt financing costs:    
Notes, net (4,345)  
Proceeds from (payments on) settlement of derivative instruments:    
Other assets 1,638  
ERPOP [Member] | Mortgage Notes Payable, Net [Member]    
Mortgage notes payable, net:    
Net gain (loss) on debt extinguishment $ (22,110) $ (11,698)