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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 115,295 $ 31,052
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 220,638 151,604
Amortization of discount on marketable securities (5,777) (3,965)
Amortization of (premium) discount and debt financing costs, net (11,125) (846)
Gain on sale of marketable securities 0 (886)
Company's share of gain on the sales of co-investment (469) (3,211)
Earnings from co-investments (8,314) (12,944)
Operating distributions from co-investments 14,804 12,091
Gains on the sales of real estate and land (7,112) (7,481)
Non cash merger and integration expenses 0 7,562
Equity-based compensation 3,457 3,625
Gain on remeasurement of co-investments (34,014) 0
Changes in operating assets and liabilities:    
Prepaid expense, receivables and other assets (6,646) 2,425
Accounts payable and accrued liabilities 4,924 9,299
Other liabilities 1,387 665
Net cash provided by operating activities 287,048 188,990
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (314,890) (108,820)
Redevelopment (41,796) (31,470)
Development acquisitions of and additions to real estate under development (122,377) (58,899)
Capital expenditures on rental properties (24,673) (13,710)
Acquisition of membership interest in co-investments (115,724) 0
Proceeds from insurance for property losses 11,735 10,000
Proceeds from dispositions of real estate 74,485 14,123
BRE merger consideration paid 0 (555,826)
Proceeds from dispositions of co-investments 11,072 13,900
Contributions to co-investments (97,512) (58,029)
Changes in restricted cash and refundable deposits 49,808 (3,606)
Purchases of marketable securities (7,250) (14,341)
Sales and maturities of marketable securities 1,968 5,192
Collections of notes and other receivables 0 56,750
Non-operating distributions from co-investments 0 8,599
Net cash used in investing activities (575,154) (736,137)
Cash flows from financing activities:    
Borrowings under debt agreements 923,431 1,321,044
Repayment of debt (730,712) (1,077,210)
Additions to deferred charges (4,456) (16,401)
Net proceeds from issuance of common stock 272,664 278,334
Net proceeds from stock options exercises 18,346 5,503
Distributions to noncontrolling interest (11,033) (7,510)
Redemption of noncontrolling interest (2,488) (2,550)
Common and preferred stock dividends paid (177,019) (94,961)
Net cash provided by financing activities 288,733 406,249
Cash acquired from the BRE merger 0 140,353
Cash acquired in consolidation of co-investment 4,005 0
Net increase (decrease) in cash and cash equivalents 4,632 (545)
Cash and cash equivalents at beginning of period 25,610 18,491
Cash and cash equivalents at end of period 30,242 17,946
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of $8.3 million and $11.7 million capitalized in 2015 and 2014, respectively 86,347 44,437
Supplemental disclosure of noncash investing and financing activities:    
Issuance of Operating Partnership units for contributed properties 0 1,419,816
Retirement of Operating Partnership units 0 (1,419,816)
Transfer from real estate under development to rental properties 300,751 4,580
Transfer from real estate under development to co-investments 3,780 49,776
Reclassifications of and changes in redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 574 18,766
Debt assumed in connection with acquisition of co-investment 114,435 0
Essex Portfolio, L.P. [Member]    
Cash flows from operating activities:    
Net income 115,295 31,052
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 220,638 151,604
Amortization of discount on marketable securities (5,777) (3,965)
Amortization of (premium) discount and debt financing costs, net (11,125) (846)
Gain on sale of marketable securities 0 (886)
Company's share of gain on the sales of co-investment (469) (3,211)
Earnings from co-investments (8,314) (12,944)
Operating distributions from co-investments 14,804 12,091
Gains on the sales of real estate and land (7,112) (7,481)
Non cash merger and integration expenses 0 7,562
Equity-based compensation 3,457 3,625
Gain on remeasurement of co-investments (34,014) 0
Changes in operating assets and liabilities:    
Prepaid expense, receivables and other assets (6,646) 2,425
Accounts payable and accrued liabilities 4,924 9,299
Other liabilities 1,387 665
Net cash provided by operating activities 287,048 188,990
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (314,890) (108,820)
Redevelopment (41,796) (31,470)
Development acquisitions of and additions to real estate under development (122,377) (58,899)
Capital expenditures on rental properties (24,673) (13,710)
Acquisition of membership interest in co-investments (115,724) 0
Proceeds from insurance for property losses 11,735 10,000
Proceeds from dispositions of real estate 74,485 14,123
BRE merger consideration paid 0 (555,826)
Proceeds from dispositions of co-investments 11,072 13,900
Contributions to co-investments (97,512) (58,029)
Changes in restricted cash and refundable deposits 49,808 (3,606)
Purchases of marketable securities (7,250) (14,341)
Sales and maturities of marketable securities 1,968 5,192
Collections of notes and other receivables 0 56,750
Non-operating distributions from co-investments 0 8,599
Net cash used in investing activities (575,154) (736,137)
Cash flows from financing activities:    
Borrowings under debt agreements 923,431 1,321,044
Repayment of debt (730,712) (1,077,210)
Additions to deferred charges (4,456) (16,401)
Net proceeds from issuance of common stock 272,664 278,334
Net proceeds from stock options exercises 18,346 5,503
Distributions to noncontrolling interest (4,884) (2,045)
Redemption of noncontrolling interest (2,488) (414)
Common and preferred stock dividends paid (183,168) (102,562)
Net cash provided by financing activities 288,733 406,249
Cash acquired from the BRE merger 0 140,353
Cash acquired in consolidation of co-investment 4,005 0
Net increase (decrease) in cash and cash equivalents 4,632 (545)
Cash and cash equivalents at beginning of period 25,610 18,491
Cash and cash equivalents at end of period 30,242 17,946
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of $8.3 million and $11.7 million capitalized in 2015 and 2014, respectively 86,347 44,437
Supplemental disclosure of noncash investing and financing activities:    
Issuance of Operating Partnership units for contributed properties 0 1,419,816
Retirement of Operating Partnership units 0 (1,419,816)
Transfer from real estate under development to rental properties 300,751 4,580
Transfer from real estate under development to co-investments 3,780 47,776
Reclassifications of and changes in redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 574 18,766
Debt assumed in connection with acquisition of co-investment $ 114,435 $ 0