XML 26 R10.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Rental income $ 622,433 $ 685,120 $ 1,958,270 $ 2,016,796
EXPENSES        
Property and maintenance 113,065 114,966 333,333 338,497
Real estate taxes and insurance 95,273 87,546 288,043 270,434
Property management 20,196 21,940 71,513 72,705
General and administrative 10,859 11,417 37,212 41,127
Depreciation 200,605 211,478 619,003 616,201
Total expenses 439,998 447,347 1,349,104 1,338,964
Net gain (loss) on sales of real estate properties (25) 130,565 352,218 269,400
Operating income 182,410 368,338 961,384 947,232
Interest and other income 535 656 4,006 2,581
Other expenses (4,097) (2,813) (8,324) (11,205)
Interest:        
Expense incurred, net (80,874) (85,936) (248,349) (289,776)
Amortization of deferred financing costs (2,101) (2,881) (6,253) (8,664)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 95,873 277,364 702,464 640,168
Income and other tax (expense) benefit (262) (265) (502) (749)
Income (loss) from investments in unconsolidated entities (246) (1,152) (2,445) 66,906
Net gain (loss) on sales of land parcels   1,899   2,077
Net income 95,365 277,846 699,517 708,402
Partially Owned Properties (703) (830) (14,113) (2,450)
Net income attributable to controlling interests $ 91,286 $ 267,106 $ 660,780 $ 680,613
Earnings per Unit – basic:        
Net income available to Units $ 0.24 $ 0.72 $ 1.77 $ 1.83
Earnings per Unit – diluted:        
Net income available to Units $ 0.24 $ 0.71 $ 1.77 $ 1.82
Weighted average Units outstanding 385,652 386,896 385,973 386,177
ERPOP [Member]        
REVENUES        
Rental income $ 622,433 $ 685,120 $ 1,958,270 $ 2,016,796
EXPENSES        
Property and maintenance 113,065 114,966 333,333 338,497
Real estate taxes and insurance 95,273 87,546 288,043 270,434
Property management 20,196 21,940 71,513 72,705
General and administrative 10,859 11,417 37,212 41,127
Depreciation 200,605 211,478 619,003 616,201
Total expenses 439,998 447,347 1,349,104 1,338,964
Net gain (loss) on sales of real estate properties (25) 130,565 352,218 269,400
Operating income 182,410 368,338 961,384 947,232
Interest and other income 535 656 4,006 2,581
Other expenses (4,097) (2,813) (8,324) (11,205)
Interest:        
Expense incurred, net (80,874) (85,936) (248,349) (289,776)
Amortization of deferred financing costs (2,101) (2,881) (6,253) (8,664)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 95,873 277,364 702,464 640,168
Income and other tax (expense) benefit (262) (265) (502) (749)
Income (loss) from investments in unconsolidated entities (246) (1,152) (2,445) 66,906
Net gain (loss) on sales of land parcels   1,899   2,077
Net income 95,365 277,846 699,517 708,402
Partially Owned Properties (703) (830) (14,113) (2,450)
Net income attributable to controlling interests 94,662 277,016 685,404 705,952
ALLOCATION OF NET INCOME:        
Preference Units 773 773 2,318 2,318
General Partner 90,513 266,333 658,462 678,295
Limited Partners 3,376 9,910 24,624 25,339
Net income available to Units $ 93,889 $ 276,243 $ 683,086 $ 703,634
Earnings per Unit – basic:        
Net income available to Units $ 0.24 $ 0.72 $ 1.77 $ 1.83
Weighted average Units outstanding 384,871 383,709 384,759 383,142
Earnings per Unit – diluted:        
Net income available to Units $ 0.24 $ 0.71 $ 1.77 $ 1.82
Weighted average Units outstanding 385,652 386,896 385,973 386,177