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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 96,639 $ 187,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 119,105 115,503
Amortization of discount on marketable securities (4,157) (3,573)
Amortization of (premium) discount and debt financing costs, net (664) (3,309)
Gain on sale of marketable securities and other investments (680) (1,605)
Unrealized loss on equity securities recognized through income 876 0
Earnings from co-investments (32,774) (10,899)
Operating distributions from co-investments 40,437 12,358
Accrued interest from notes and other receivables (1,294) (647)
Gain on the sale of real estate and land 0 (26,174)
Equity-based compensation 2,090 1,253
Gain on remeasurement of co-investment 0 (86,482)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables and other assets (3,716) (3,889)
Accounts payable and accrued liabilities 52,151 42,482
Other liabilities 345 737
Net cash provided by operating activities 268,358 223,306
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (2,873) (187,917)
Redevelopment (15,893) (12,240)
Development acquisitions of and additions to real estate under development (38,203) (30,457)
Capital expenditures on rental properties (14,947) (10,885)
Investments in notes receivable 0 (8,750)
Collections of notes receivable 29,500 0
Proceeds from insurance for property losses 565 435
Proceeds from dispositions of real estate 0 131,230
Contributions to co-investments (56,020) (120,816)
Changes in refundable deposits 410 512
Purchases of marketable securities (13,437) (20,939)
Sales and maturities of marketable securities 9,579 24,903
Non-operating distributions from co-investments 2,330 55,025
Net cash used in investing activities (98,989) (179,899)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 298,773 250,000
Payments on unsecured debt and mortgage notes (83,748) (308,020)
Proceeds from lines of credit 256,832 404,562
Repayments of lines of credit (435,832) (353,329)
Retirement of common stock (3,774) 0
Additions to deferred charges (3,283) (1,014)
Net proceeds from issuance of common stock (67) (65)
Net proceeds from stock options exercised 1,222 5,794
Payments related to tax withholding for share-based compensation (11) (33)
Distributions to noncontrolling interest (5,926) (5,425)
Redemption of noncontrolling interest 0 (1,070)
Common and preferred stock dividends paid (115,603) (104,857)
Net cash used in financing activities (91,417) (113,457)
Net increase (decrease) in unrestricted and restricted cash and cash equivalents 77,952 (70,050)
Unrestricted and restricted cash and cash equivalents at beginning of period 61,126 170,302
Unrestricted and restricted cash and cash equivalents at end of period 139,078 100,252
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of $4.2 million and $3.3 million capitalized in 2018 and 2017, respectively 40,306 48,397
Supplemental disclosure of noncash investing and financing activities:    
Issuance of DownREIT units in connection with acquisition of real estate 0 22,506
Transfers between real estate under development to rental properties, net 1 747
Transfer from real estate under development to co-investments 365 2,080
Reclassifications to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 1,953 731
Debt assumed in connection with acquisition 0 51,882
Essex Portfolio, L.P. [Member]    
Cash flows from operating activities:    
Net income 96,639 187,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 119,105 115,503
Amortization of discount on marketable securities (4,157) (3,573)
Amortization of (premium) discount and debt financing costs, net (664) (3,309)
Gain on sale of marketable securities and other investments (680) (1,605)
Unrealized loss on equity securities recognized through income 876 0
Earnings from co-investments (32,774) (10,899)
Operating distributions from co-investments 40,437 12,358
Accrued interest from notes and other receivables (1,294) (647)
Gain on the sale of real estate and land 0 (26,174)
Equity-based compensation 2,090 1,253
Gain on remeasurement of co-investment 0 (86,482)
Changes in operating assets and liabilities:    
Prepaid expenses, receivables and other assets (3,716) (3,889)
Accounts payable and accrued liabilities 52,151 42,482
Other liabilities 345 737
Net cash provided by operating activities 268,358 223,306
Additions to real estate:    
Acquisitions of real estate and acquisition related capital expenditures (2,873) (187,917)
Redevelopment (15,893) (12,240)
Development acquisitions of and additions to real estate under development (38,203) (30,457)
Capital expenditures on rental properties (14,947) (10,885)
Investments in notes receivable 0 (8,750)
Collections of notes receivable 29,500 0
Proceeds from insurance for property losses 565 435
Proceeds from dispositions of real estate 0 131,230
Contributions to co-investments (56,020) (120,816)
Changes in refundable deposits 410 512
Purchases of marketable securities (13,437) (20,939)
Sales and maturities of marketable securities 9,579 24,903
Non-operating distributions from co-investments 2,330 55,025
Net cash used in investing activities (98,989) (179,899)
Cash flows from financing activities:    
Proceeds from unsecured debt and mortgage notes 298,773 250,000
Payments on unsecured debt and mortgage notes (83,748) (308,020)
Proceeds from lines of credit 256,832 404,562
Repayments of lines of credit (435,832) (353,329)
Retirement of common stock (3,774) 0
Additions to deferred charges (3,283) (1,014)
Net proceeds from issuance of common stock (67) (65)
Net proceeds from stock options exercised 1,222 5,794
Payments related to tax withholding for share-based compensation (11) (33)
Distributions to noncontrolling interest (2,267) (5,425)
Redemption of noncontrolling interest 0 (1,070)
Common and preferred stock dividends paid (119,262) (104,857)
Net cash used in financing activities (91,417) (113,457)
Net increase (decrease) in unrestricted and restricted cash and cash equivalents 77,952 (70,050)
Unrestricted and restricted cash and cash equivalents at beginning of period 61,126 170,302
Unrestricted and restricted cash and cash equivalents at end of period 139,078 100,252
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of $4.2 million and $3.3 million capitalized in 2018 and 2017, respectively 40,306 48,397
Supplemental disclosure of noncash investing and financing activities:    
Issuance of DownREIT units in connection with acquisition of real estate 0 22,506
Transfers between real estate under development to rental properties, net 1 747
Transfer from real estate under development to co-investments 365 2,080
Reclassifications to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest 1,953 731
Debt assumed in connection with acquisition $ 0 $ 51,882