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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 86,907 $ 64,753
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 109,707 106,907
Amortization of discount on marketable securities and other investments (3,756) (2,856)
Amortization of (premium) discount and debt financing costs, net (3,795) (6,530)
Gain on sale of marketable securities (740) 0
Company's share of gain on the sales of co-investments (7,435) 0
Income from early redemption of preferred equity investments 0 (469)
Earnings from co-investments (7,633) (3,842)
Operating distributions from co-investments 9,753 6,055
Gain on the sale of real estate and land (20,258) (7,112)
Equity-based compensation 1,490 1,370
Gain on remeasurement of co-investments 0 (21,362)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables and other assets 846 3,548
Accounts payable and accrued liabilities 35,200 21,741
Other liabilities 324 346
Net cash provided by operating activities 200,610 162,549
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (110,309) (199,190)
Redevelopment (24,151) (19,140)
Development acquisitions of and additions to real estate under development (22,656) (90,925)
Capital expenditures on rental properties (5,688) (16,196)
Acquisition of membership interest in co-investments 0 (41,513)
Proceeds from insurance for property losses 435 4,589
Proceeds from dispositions of real estate 48,008 74,485
Contributions to co-investments (50,591) (48,650)
Changes in restricted cash and refundable deposits 59,346 45,145
Purchases of marketable securities (1,344) (7,250)
Sales and maturities of marketable securities 5,045 717
Non-operating distributions from co-investments 21,146 11,072
Net cash used in investing activities (80,759) (286,856)
Cash flows from financing activities:    
Borrowings under debt agreements 305,895 756,562
Repayment of debt (309,903) (536,830)
Additions to deferred charges (1,037) (4,456)
Net proceeds from issuance of common stock (134) 174,592
Net proceeds from stock options exercised 5,232 15,613
Distributions to noncontrolling interest (4,858) (3,574)
Redemption of noncontrolling interest (1,089) (2,154)
Common and preferred stock dividends paid (95,476) (83,663)
Net cash (used in) provided by financing activities (101,370) 316,090
Cash acquired in consolidation of co-investment 0 1,807
Net increase in cash and cash equivalents 18,481 193,590
Cash and cash equivalents at beginning of period 29,683 25,610
Cash and cash equivalents at end of period 48,164 219,200
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of interest capitalized in 2016 and 2015 48,109 50,343
Cash paid for interest, capitalized 3,100 4,300
Supplemental disclosure of noncash investing and financing activities:    
Transfers between real estate under development to rental properties, net 107,643 162,345
Transfer from real estate under development to co-investments 2,338 1,562
Reclassifications to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 751 1,660
Debt assumed in connection with acquisition 48,832 114,435
Essex Portfolio, L.P. [Member]    
Cash flows from operating activities:    
Net income 86,907 64,753
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 109,707 106,907
Amortization of discount on marketable securities and other investments (3,756) (2,856)
Amortization of (premium) discount and debt financing costs, net (3,795) (6,530)
Gain on sale of marketable securities (740) 0
Company's share of gain on the sales of co-investments (7,435) 0
Income from early redemption of preferred equity investments 0 (469)
Earnings from co-investments (7,633) (3,842)
Operating distributions from co-investments 9,753 6,055
Gain on the sale of real estate and land (20,258) (7,112)
Equity-based compensation 1,490 1,370
Gain on remeasurement of co-investments 0 (21,362)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables and other assets 846 3,548
Accounts payable and accrued liabilities 35,200 21,741
Other liabilities 324 346
Net cash provided by operating activities 200,610 162,549
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (110,309) (199,190)
Redevelopment (24,151) (19,140)
Development acquisitions of and additions to real estate under development (22,656) (90,925)
Capital expenditures on rental properties (5,688) (16,196)
Acquisition of membership interest in co-investments 0 (41,513)
Proceeds from insurance for property losses 435 4,589
Proceeds from dispositions of real estate 48,008 74,485
Contributions to co-investments (50,591) (48,650)
Changes in restricted cash and refundable deposits 59,346 45,145
Purchases of marketable securities (1,344) (7,250)
Sales and maturities of marketable securities 5,045 717
Non-operating distributions from co-investments 21,146 11,072
Net cash used in investing activities (80,759) (286,856)
Cash flows from financing activities:    
Borrowings under debt agreements 305,895 756,562
Repayment of debt (309,903) (536,830)
Additions to deferred charges (1,037) (4,456)
Net proceeds from issuance of common stock (134) 174,592
Net proceeds from stock options exercised 5,232 15,613
Distributions to noncontrolling interest (1,528) (221)
Redemption of noncontrolling interest (1,089) (2,154)
Common and preferred stock dividends paid (98,806) (87,016)
Net cash (used in) provided by financing activities (101,370) 316,090
Cash acquired in consolidation of co-investment 0 1,807
Net increase in cash and cash equivalents 18,481 193,590
Cash and cash equivalents at beginning of period 29,683 25,610
Cash and cash equivalents at end of period 48,164 219,200
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of interest capitalized in 2016 and 2015 48,109 50,343
Cash paid for interest, capitalized 3,100 4,300
Supplemental disclosure of noncash investing and financing activities:    
Transfers between real estate under development to rental properties, net 107,643 162,345
Transfer from real estate under development to co-investments 2,338 1,562
Reclassifications to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 751 1,660
Debt assumed in connection with acquisition $ 48,832 $ 114,435