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CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 73,798 $ 60,364
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 229,961 199,962
Amortization of deferred financing costs 2,077 2,185
Amortization of above/below market lease intangibles   (18)
Amortization of discounts and premiums on debt 1,358 1,294
Amortization of deferred settlements on derivative instruments 2,422 2,301
Amortization of right-of-use assets 3,046 2,980
Write-off of pursuit costs 1,463 1,331
(Income) loss from investments in unconsolidated entities 1,261 1,611
Distributions from unconsolidated entities – return on capital 79  
Net (gain) loss on sales of real estate properties 102 43
Net (gain) loss on sales of land parcels   (5)
Realized (gain) loss on sale of investment securities (2,066) 133
Compensation paid with Company Common Shares 9,203 8,678
Changes in assets and liabilities:    
(Increase) decrease in other assets 30,174 20,746
Increase (decrease) in accounts payable and accrued expenses 54,553 59,116
Increase (decrease) in accrued interest payable (12,634) (10,407)
Increase (decrease) in lease liabilities (902) (868)
Increase (decrease) in other liabilities (27,213) (3,852)
Increase (decrease) in security deposits 1,374 459
Net cash provided by operating activities 368,056 346,053
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (113,046)  
Investment in real estate – development/other (24,255) (64,599)
Capital expenditures to real estate (35,285) (28,679)
Non-real estate capital additions (971) (589)
Interest capitalized for real estate and unconsolidated entities under development (1,017) (3,769)
Investments in unconsolidated entities – other (24,897) (2,378)
Distributions from unconsolidated entities – return of capital 9 4
Purchase of investment securities and other investments (1,009) (26,335)
Proceeds from sale of investment securities 3,434  
Net cash provided by (used for) investing activities (197,037) (126,345)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs   (318)
Mortgage notes payable, net:    
Proceeds 2,689 37,492
Lump sum payoffs   (59,880)
Scheduled principal repayments (1,933) (1,871)
Line of credit and commercial paper:    
Commercial paper proceeds 1,424,086 1,184,923
Commercial paper repayments (1,609,121) (1,170,000)
Finance ground lease principal payments (140) (116)
Proceeds from Employee Share Purchase Plan (ESPP) 969 1,731
Proceeds from exercise of EQR options 14,344 22,882
Payment of offering costs (114)  
Contributions – Noncontrolling Interests – Partially Owned Properties 446  
Contributions – Limited Partners 1  
Distributions:    
OP Units – General Partner (226,639) (224,308)
Preference Units (772) (773)
OP Units – Limited Partners (7,535) (8,479)
Noncontrolling Interests – Partially Owned Properties (15,836) (2,883)
Net cash provided by (used for) financing activities (419,555) (221,600)
Net increase (decrease) in cash and cash equivalents and restricted deposits (248,536) (1,892)
Cash and cash equivalents and restricted deposits, beginning of period 360,236 99,728
Cash and cash equivalents and restricted deposits, end of period 111,700 97,836
Cash and cash equivalents 41,140 35,453
Restricted deposits 70,560 62,383
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 81,391 74,058
Net cash paid (received) for income and other taxes 350 752
Amortization of deferred financing costs:    
Investment in real estate, net (127) (60)
Other assets 585 585
Mortgage notes payable, net 557 703
Notes, net 1,062 957
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 685 684
Notes, net 673 610
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (2)
Accumulated other comprehensive income 2,425 2,303
Write-off of pursuit costs:    
Investment in real estate, net 375 1,209
Investments in unconsolidated entities 1,070  
Other assets 18 114
Accounts payable and accrued expenses   8
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 946 1,282
Other liabilities 315 329
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (307) (3,769)
Investments in unconsolidated entities 710  
Investments in unconsolidated entities – other:    
Investments in unconsolidated entities (24,897) (1,778)
Other liabilities   (600)
Debt financing costs:    
Mortgage notes payable, net   (318)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets   11,308
Lease liabilities   (11,308)
Non-cash share distribution from unconsolidated entities:    
Investments in unconsolidated entities 859  
Other assets (859)  
ERPOP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 73,798 60,364
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 229,961 199,962
Amortization of deferred financing costs 2,077 2,185
Amortization of above/below market lease intangibles   (18)
Amortization of discounts and premiums on debt 1,358 1,294
Amortization of deferred settlements on derivative instruments 2,422 2,301
Amortization of right-of-use assets 3,046 2,980
Write-off of pursuit costs 1,463 1,331
(Income) loss from investments in unconsolidated entities 1,261 1,611
Distributions from unconsolidated entities – return on capital 79  
Net (gain) loss on sales of real estate properties 102 43
Net (gain) loss on sales of land parcels   (5)
Realized (gain) loss on sale of investment securities (2,066) 133
Compensation paid with Company Common Shares 9,203 8,678
Changes in assets and liabilities:    
(Increase) decrease in other assets 30,174 20,746
Increase (decrease) in accounts payable and accrued expenses 54,553 59,116
Increase (decrease) in accrued interest payable (12,634) (10,407)
Increase (decrease) in lease liabilities (902) (868)
Increase (decrease) in other liabilities (27,213) (3,852)
Increase (decrease) in security deposits 1,374 459
Net cash provided by operating activities 368,056 346,053
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in real estate – acquisitions (113,046)  
Investment in real estate – development/other (24,255) (64,599)
Capital expenditures to real estate (35,285) (28,679)
Non-real estate capital additions (971) (589)
Interest capitalized for real estate and unconsolidated entities under development (1,017) (3,769)
Investments in unconsolidated entities – other (24,897) (2,378)
Distributions from unconsolidated entities – return of capital 9 4
Purchase of investment securities and other investments (1,009) (26,335)
Proceeds from sale of investment securities 3,434  
Net cash provided by (used for) investing activities (197,037) (126,345)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Debt financing costs   (318)
Mortgage notes payable, net:    
Proceeds 2,689 37,492
Lump sum payoffs   (59,880)
Scheduled principal repayments (1,933) (1,871)
Line of credit and commercial paper:    
Commercial paper proceeds 1,424,086 1,184,923
Commercial paper repayments (1,609,121) (1,170,000)
Finance ground lease principal payments (140) (116)
Proceeds from Employee Share Purchase Plan (ESPP) 969 1,731
Proceeds from exercise of EQR options 14,344 22,882
Payment of offering costs (114)  
Contributions – Noncontrolling Interests – Partially Owned Properties 446  
Contributions – Limited Partners 1  
Distributions:    
OP Units – General Partner (226,639) (224,308)
Preference Units (772) (773)
OP Units – Limited Partners (7,535) (8,479)
Noncontrolling Interests – Partially Owned Properties (15,836) (2,883)
Net cash provided by (used for) financing activities (419,555) (221,600)
Net increase (decrease) in cash and cash equivalents and restricted deposits (248,536) (1,892)
Cash and cash equivalents and restricted deposits, beginning of period 360,236 99,728
Cash and cash equivalents and restricted deposits, end of period 111,700 97,836
Cash and cash equivalents 41,140 35,453
Restricted deposits 70,560 62,383
SUPPLEMENTAL INFORMATION:    
Cash paid for interest, net of amounts capitalized 81,391 74,058
Net cash paid (received) for income and other taxes 350 752
Amortization of deferred financing costs:    
Investment in real estate, net (127) (60)
Other assets 585 585
Mortgage notes payable, net 557 703
Notes, net 1,062 957
Amortization of discounts and premiums on debt:    
Mortgage notes payable, net 685 684
Notes, net 673 610
Amortization of deferred settlements on derivative instruments:    
Other liabilities (3) (2)
Accumulated other comprehensive income 2,425 2,303
Write-off of pursuit costs:    
Investment in real estate, net 375 1,209
Investments in unconsolidated entities 1,070  
Other assets 18 114
Accounts payable and accrued expenses   8
(Income) loss from investments in unconsolidated entities:    
Investments in unconsolidated entities 946 1,282
Other liabilities 315 329
Interest capitalized for real estate and unconsolidated entities under development:    
Investment in real estate, net (307) (3,769)
Investments in unconsolidated entities (710)  
Investments in unconsolidated entities – other:    
Investments in unconsolidated entities (24,897) (1,778)
Other liabilities   (600)
Debt financing costs:    
Mortgage notes payable, net   (318)
Right-of-use assets and lease liabilities initial measurement and reclassifications:    
Right-of-use assets   11,308
Lease liabilities   $ (11,308)
Non-cash share distribution from unconsolidated entities:    
Investments in unconsolidated entities 859  
Other assets $ (859)