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CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Rental income $ 653,532 $ 669,374 $ 1,335,837 $ 1,331,676
EXPENSES        
Property and maintenance 104,452 108,461 220,268 223,531
Real estate taxes and insurance 95,038 91,446 192,770 182,888
Property management 23,608 24,369 51,317 50,765
General and administrative 11,835 14,329 26,353 29,710
Depreciation 205,976 200,508 418,398 404,723
Total expenses 440,909 439,113 909,106 891,617
Net gain (loss) on sales of real estate properties 144,266 138,856 352,243 138,835
Operating income 356,889 369,117 778,974 578,894
Interest and other income 1,511 1,152 3,471 1,925
Other expenses (1,694) (5,117) (4,227) (8,392)
Interest:        
Expense incurred, net (81,885) (108,902) (167,475) (203,840)
Amortization of deferred financing costs (2,111) (3,647) (4,152) (5,783)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 272,710 252,603 606,591 362,804
Income and other tax (expense) benefit (187) (246) (240) (484)
Income (loss) from investments in unconsolidated entities (1,042) 68,765 (2,199) 68,058
Net gain (loss) on sales of land parcels   177   178
Net income 271,481 321,299 604,152 430,556
Partially Owned Properties (880) (821) (13,410) (1,620)
Net income attributable to controlling interests $ 260,888 $ 308,968 $ 569,494 $ 413,507
Earnings per Unit – basic:        
Net income available to Units $ 0.70 $ 0.83 $ 1.53 $ 1.11
Earnings per Unit – diluted:        
Net income available to Units $ 0.70 $ 0.83 $ 1.53 $ 1.11
Weighted average Units outstanding 385,913 386,107 386,272 385,644
ERPOP [Member]        
REVENUES        
Rental income $ 653,532 $ 669,374 $ 1,335,837 $ 1,331,676
EXPENSES        
Property and maintenance 104,452 108,461 220,268 223,531
Real estate taxes and insurance 95,038 91,446 192,770 182,888
Property management 23,608 24,369 51,317 50,765
General and administrative 11,835 14,329 26,353 29,710
Depreciation 205,976 200,508 418,398 404,723
Total expenses 440,909 439,113 909,106 891,617
Net gain (loss) on sales of real estate properties 144,266 138,856 352,243 138,835
Operating income 356,889 369,117 778,974 578,894
Interest and other income 1,511 1,152 3,471 1,925
Other expenses (1,694) (5,117) (4,227) (8,392)
Interest:        
Expense incurred, net (81,885) (108,902) (167,475) (203,840)
Amortization of deferred financing costs (2,111) (3,647) (4,152) (5,783)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 272,710 252,603 606,591 362,804
Income and other tax (expense) benefit (187) (246) (240) (484)
Income (loss) from investments in unconsolidated entities (1,042) 68,765 (2,199) 68,058
Net gain (loss) on sales of land parcels   177   178
Net income 271,481 321,299 604,152 430,556
Partially Owned Properties (880) (821) (13,410) (1,620)
Net income attributable to controlling interests 270,601 320,478 590,742 428,936
ALLOCATION OF NET INCOME:        
Preference Units 772 772 1,545 1,545
General Partner 260,116 308,196 567,949 411,962
Limited Partners 9,713 11,510 21,248 15,429
Net income available to Units $ 269,829 $ 319,706 $ 589,197 $ 427,391
Earnings per Unit – basic:        
Net income available to Units $ 0.70 $ 0.83 $ 1.53 $ 1.11
Weighted average Units outstanding 384,818 383,227 384,702 382,854
Earnings per Unit – diluted:        
Net income available to Units $ 0.70 $ 0.83 $ 1.53 $ 1.11
Weighted average Units outstanding 385,913 386,107 386,272 385,644