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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 348,381 $ 233,893
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 350,893 329,847
Amortization of discount on marketable securities and other investments (11,128) (10,771)
Amortization of (premium) discount and debt financing costs, net (5,132) (11,432)
Gain on sale of marketable securities and other investments (1,650) (2,876)
Company's share of gain on the sales of co-investment (10,058) (13,046)
Earnings from co-investments (30,876) (25,886)
Operating distributions from co-investments 47,702 45,342
Gain on the sale of real estate and land (26,423) (20,258)
Equity-based compensation 4,894 4,436
Loss on early retirement of debt, net 0 211
Gain on remeasurement of co-investment (88,641) 0
Changes in operating assets and liabilities:    
Prepaid expenses, receivables and other assets (7,862) 656
Accounts payable and accrued liabilities 50,788 49,961
Other liabilities 399 420
Net cash provided by operating activities 621,287 580,497
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (200,028) (124,054)
Redevelopment (50,642) (62,983)
Development acquisitions of and additions to real estate under development (92,936) (58,575)
Capital expenditures on rental properties (46,455) (40,503)
Investments in notes receivable (76,961) (4,375)
Proceeds from insurance for property losses 648 3,288
Proceeds from dispositions of real estate 132,039 48,008
Contributions to co-investments (231,552) (121,972)
Changes in restricted cash and refundable deposits 91,209 65,858
Purchases of marketable securities (65,668) (18,779)
Sales and maturities of marketable securities and other investments 33,377 14,708
Non-operating distributions from co-investments 112,572 34,564
Net cash used in investing activities (394,397) (264,815)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 597,981 499,724
Payments on unsecured debt and mortgage notes (460,040) (244,583)
Proceeds from lines of credit 564,833 321,373
Repayments of lines of credit (687,224) (336,373)
Repayment of cumulative redeemable preferred stock 0 (73,750)
Additions to deferred charges (4,108) (5,300)
Net proceeds from issuance of common stock 80,377 (382)
Net proceeds from stock options exercised 24,079 17,878
Payments related to tax withholding for share-based compensation (118) (222)
Distributions to noncontrolling interest (20,405) (19,844)
Redemption of noncontrolling interest (4,849) (2,435)
Redemption of redeemable noncontrolling interest (720) 0
Common and preferred stock dividends paid (335,110) (306,284)
Net cash used in financing activities (245,304) (150,198)
Net (decrease) increase in cash and cash equivalents (18,414) 165,484
Cash and cash equivalents at beginning of period 64,921 29,683
Cash and cash equivalents at end of period 46,507 195,167
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of $10.0 million and $9.4 million capitalized in 2017 and 2016, respectively 148,742 140,183
Supplemental disclosure of noncash investing and financing activities:    
Issuance of DownREIT units in connection with acquisition of real estate 22,506 0
Transfers between real estate under development to rental properties, net 2,195 106,255
Transfer from real estate under development to co-investments 4,122 8,332
Reclassifications to (from) redeemable noncontrolling interest to or from additional paid in capital and noncontrolling interest 903 (1,343)
Debt assumed in connection with acquisition 51,882 48,832
Essex Portfolio, L.P. [Member]    
Cash flows from operating activities:    
Net income 348,381 233,893
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 350,893 329,847
Amortization of discount on marketable securities and other investments (11,128) (10,771)
Amortization of (premium) discount and debt financing costs, net (5,132) (11,432)
Gain on sale of marketable securities and other investments (1,650) (2,876)
Company's share of gain on the sales of co-investment (10,058) (13,046)
Earnings from co-investments (30,876) (25,886)
Operating distributions from co-investments 47,702 45,342
Gain on the sale of real estate and land (26,423) (20,258)
Equity-based compensation 4,894 4,436
Loss on early retirement of debt, net 0 211
Gain on remeasurement of co-investment (88,641) 0
Changes in operating assets and liabilities:    
Prepaid expenses, receivables and other assets (7,862) 656
Accounts payable and accrued liabilities 50,788 49,961
Other liabilities 399 420
Net cash provided by operating activities 621,287 580,497
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (200,028) (124,054)
Redevelopment (50,642) (62,983)
Development acquisitions of and additions to real estate under development (92,936) (58,575)
Capital expenditures on rental properties (46,455) (40,503)
Investments in notes receivable (76,961) (4,375)
Proceeds from insurance for property losses 648 3,288
Proceeds from dispositions of real estate 132,039 48,008
Contributions to co-investments (231,552) (121,972)
Changes in restricted cash and refundable deposits 91,209 65,858
Purchases of marketable securities (65,668) (18,779)
Sales and maturities of marketable securities and other investments 33,377 14,708
Non-operating distributions from co-investments 112,572 34,564
Net cash used in investing activities (394,397) (264,815)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 597,981 499,724
Payments on unsecured debt and mortgage notes (460,040) (244,583)
Proceeds from lines of credit 564,833 321,373
Repayments of lines of credit (687,224) (336,373)
Repayment of cumulative redeemable preferred stock 0 (73,750)
Additions to deferred charges (4,108) (5,300)
Net proceeds from issuance of common stock 80,377 (382)
Net proceeds from stock options exercised 24,079 17,878
Payments related to tax withholding for share-based compensation (118) (222)
Distributions to noncontrolling interest (5,568) (5,171)
Redemption of noncontrolling interest (4,849) (2,435)
Redemption of redeemable noncontrolling interest (720) 0
Common and preferred stock dividends paid (349,947) (320,957)
Net cash used in financing activities (245,304) (150,198)
Net (decrease) increase in cash and cash equivalents (18,414) 165,484
Cash and cash equivalents at beginning of period 64,921 29,683
Cash and cash equivalents at end of period 46,507 195,167
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of $10.0 million and $9.4 million capitalized in 2017 and 2016, respectively 148,742 140,183
Supplemental disclosure of noncash investing and financing activities:    
Issuance of DownREIT units in connection with acquisition of real estate 22,506 0
Transfers between real estate under development to rental properties, net 2,195 106,255
Transfer from real estate under development to co-investments 4,122 8,332
Reclassifications to (from) redeemable noncontrolling interest to or from additional paid in capital and noncontrolling interest 903 (1,343)
Debt assumed in connection with acquisition $ 51,882 $ 48,832