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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 248,239 $ 134,438 $ 172,055
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 453,423 360,592 193,518
Earnings from co-investments (21,392) (33,335) (14,613)
Company's share of gain on the sales of co-investments (469) (6,558) (41,252)
Operating distributions from co-investments 46,608 49,486 19,636
Gain on the sales of real estate and land (47,333) (46,039) (30,725)
Loss on early retirement of debt, net 6,114 268 300
Gains on sale of marketable securities and other investments (598) (886) (1,767)
Amortization of (premium) discount and financing costs, net (19,361) (14,672) 12,216
Amortization of discount on notes receivables 0 0 (844)
Amortization of discount on marketable securities and other investments (12,389) (9,325) (6,556)
Non cash merger and integration expenses 0 9,025 0
Equity-based compensation 6,061 8,740 4,508
Gains on remeasurement of co-investment (34,014) 0 0
Changes in operating assets and liabilities:      
Prepaid expenses, in-place lease value, receivables and other assets 267 15,828 (1,588)
Accounts payable and accrued liabilities (9,633) 24,233 72
Other liabilities 1,887 1,517 22
Net cash provided by operating activities 617,410 493,312 304,982
Additions to real estate:      
Acquisitions of real estate and acquisition related capital expenditures (515,726) (387,547) (348,774)
Redevelopment (99,346) (81,429) (47,289)
Development acquisitions of and additions to real estate under development (157,900) (152,766) (17,757)
Capital expenditures on rental properties (57,277) (78,864) (56,919)
Proceeds from insurance for property losses 16,811 35,547 0
BRE merger consideration paid 0 (555,826) 0
Acquisition of membership interest in co-investment (115,724) 0 0
Dispositions of real estate 319,008 141,189 65,496
Dispositions of co-investments 31,556 13,900 0
Changes in restricted cash and refundable deposits (14,068) (36,582) (9,149)
Purchases of marketable securities (14,300) (20,516) (16,442)
Sales and maturities of marketable securities and other investments 8,907 8,753 24,172
Purchases of and advances under notes and other receivables 0 0 (56,750)
Collections of notes and other receivables 0 76,585 53,438
Contributions to co-investments (127,879) (246,006) (162,578)
Non-operating distributions from co-investments 382 136,406 118,856
Net cash used in investing activities (725,556) (1,147,156) (453,696)
Cash flows from financing activities:      
Borrowings under debt agreements 1,345,855 2,093,406 969,061
Repayment of debt (1,197,351) (1,814,020) (750,900)
Additions to deferred charges (8,034) (17,402) (7,402)
Net proceeds from stock options exercised 26,540 11,039 4,958
Net proceeds from issuance of common stock 332,137 531,379 137,749
Distributions to noncontrolling interest (21,055) (17,465) (18,488)
Redemption of noncontrolling interest (2,621) (5,753) (5,711)
Common and preferred stock dividends paid (367,257) (260,574) (180,668)
Net cash provided by financing activities 108,214 520,610 148,599
Cash acquired from the BRE merger 0 140,353 0
Cash acquired from consolidation of co-investment 4,005 0 0
Net increase (decrease) in cash and cash equivalents 4,073 7,119 (115)
Cash and cash equivalents at beginning of year 25,610 18,491 18,606
Cash and cash equivalents at end of year 29,683 25,610 18,491
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 181,106 130,691 103,516
Interest capitalized 15,571 22,510 16,486
Supplemental disclosure of noncash investing and financing activities:      
Issuance of Operating Partnership units for contributed properties 0 1,419,816 0
Retirement of Operating Partnership units 0 (1,419,816) 0
Transfer from real estate under development to rental properties 308,704 10,203 68
Transfer from real estate under development to co-investments 6,234 83,574 27,906
Reclassification to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 22,387 18,766 0
Debt assumed in connection with acquisition of co-investment 114,435 0 0
Mortgage notes (excluding BRE merger) assumed in connection with purchases of real estate including the loan premiums recorded 0 72,568 0
Essex Portfolio, L.P. [Member]      
Cash flows from operating activities:      
Net income 248,239 134,438 172,055
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 453,423 360,592 193,518
Earnings from co-investments (21,392) (33,335) (14,613)
Company's share of gain on the sales of co-investments (469) (6,558) (41,252)
Operating distributions from co-investments 46,608 49,486 19,636
Gain on the sales of real estate and land (47,333) (46,039) (30,725)
Loss on early retirement of debt, net 6,114 268 300
Gains on sale of marketable securities and other investments (598) (886) (1,767)
Amortization of (premium) discount and financing costs, net (19,361) (14,672) 12,216
Amortization of discount on notes receivables 0 0 (844)
Amortization of discount on marketable securities and other investments (12,389) (9,325) (6,556)
Non cash merger and integration expenses 0 9,025 0
Equity-based compensation 6,061 8,740 4,508
Gains on remeasurement of co-investment (34,014) 0 0
Changes in operating assets and liabilities:      
Prepaid expenses, in-place lease value, receivables and other assets 267 15,828 (1,588)
Accounts payable and accrued liabilities (9,633) 24,233 72
Other liabilities 1,887 1,517 22
Net cash provided by operating activities 617,410 493,312 304,982
Additions to real estate:      
Acquisitions of real estate and acquisition related capital expenditures (515,726) (387,547) (348,774)
Redevelopment (99,346) (81,429) (47,289)
Development acquisitions of and additions to real estate under development (157,900) (152,766) (17,757)
Capital expenditures on rental properties (57,277) (78,864) (56,919)
Proceeds from insurance for property losses 16,811 35,547 0
BRE merger consideration paid 0 (555,826) 0
Acquisition of membership interest in co-investment (115,724) 0 0
Dispositions of real estate 319,008 141,189 65,496
Dispositions of co-investments 31,556 13,900 0
Changes in restricted cash and refundable deposits (14,068) (36,582) (9,149)
Purchases of marketable securities (14,300) (20,516) (16,442)
Sales and maturities of marketable securities and other investments 8,907 8,753 24,172
Purchases of and advances under notes and other receivables 0 0 (56,750)
Collections of notes and other receivables 0 76,585 53,438
Contributions to co-investments (127,879) (246,006) (162,578)
Non-operating distributions from co-investments 382 136,406 118,856
Net cash used in investing activities (725,556) (1,147,156) (453,696)
Cash flows from financing activities:      
Borrowings under debt agreements 1,345,855 2,093,406 969,061
Repayment of debt (1,197,351) (1,814,020) (750,900)
Additions to deferred charges (8,034) (17,402) (7,402)
Net proceeds from stock options exercised 26,540 11,039 4,958
Net proceeds from issuance of common stock 332,137 531,379 137,749
Distributions to noncontrolling interest (7,615) (4,841) (8,016)
Redemption of noncontrolling interest (2,621) (802) (5,711)
Common and preferred stock dividends paid (380,697) (278,149) (191,140)
Net cash provided by financing activities 108,214 520,610 148,599
Cash acquired from the BRE merger 0 140,353 0
Cash acquired from consolidation of co-investment 4,005 0 0
Net increase (decrease) in cash and cash equivalents 4,073 7,119 (115)
Cash and cash equivalents at beginning of year 25,610 18,491 18,606
Cash and cash equivalents at end of year 29,683 25,610 18,491
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 181,106 130,691 103,516
Interest capitalized 15,571 22,510 16,486
Supplemental disclosure of noncash investing and financing activities:      
Issuance of Operating Partnership units for contributed properties 0 1,419,816 0
Retirement of Operating Partnership units 0 (1,419,816) 0
Transfer from real estate under development to rental properties 308,704 10,203 68
Transfer from real estate under development to co-investments 6,234 83,574 27,906
Reclassification to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 22,387 18,766 0
Debt assumed in connection with acquisition of co-investment 114,435 0 0
Mortgage notes (excluding BRE merger) assumed in connection with purchases of real estate including the loan premiums recorded $ 0 $ 72,568 $ 0