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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total revenues $ 366,932 $ 350,917 $ 1,084,790 $ 1,046,895
Expenses:        
Property operating, excluding real estate taxes 63,181 59,100 181,241 174,461
Real estate taxes 39,290 38,675 114,993 112,423
Corporate-level property management expenses 8,255 7,761 24,620 23,313
Depreciation and amortization 120,809 120,852 360,842 359,287
General and administrative 11,345 10,601 38,731 36,539
Expensed acquisition and investment related costs 13 31 69 156
Total expenses 242,893 237,020 720,496 706,179
Gain on sale of real estate and land 0 0 0 22,244
Earnings from operations 124,039 113,897 364,294 362,960
Interest expense (54,896) (55,196) (162,651) (166,335)
Total return swap income 2,154 2,184 6,174 6,682
Interest and other income 8,685 8,437 29,293 21,241
Equity income from co-investments 21,700 16,788 54,935 64,611
Deferred tax expense on unrealized gain on unconsolidated co-investment (1,457) 0 (1,457) 0
Gain on early retirement of debt, net 5,475 0 7,143 0
Gain on remeasurement of co-investment 0 0 31,535 0
Net income 105,700 86,110 329,266 289,159
Net income attributable to noncontrolling interest (6,365) (5,135) (18,798) (16,826)
Net income available to common stockholders 99,335 80,975 310,468 272,333
Comprehensive income 105,663 89,100 323,071 301,708
Comprehensive income attributable to noncontrolling interest (6,364) (5,235) (18,589) (17,243)
Comprehensive income attributable to controlling interest $ 99,299 $ 83,865 $ 304,482 $ 284,465
Basic:        
Net income available to common stockholders/unitholders (in dollars per share) $ 1.51 $ 1.23 $ 4.72 $ 4.12
Weighted average number of shares/common units outstanding during the period (in shares) 65,850,524 66,052,108 65,757,914 66,047,990
Diluted:        
Net income available to common stockholders/unitholders (in dollars per share) $ 1.51 $ 1.22 $ 4.71 $ 4.12
Weighted average number of shares/common units outstanding during the period (in shares) 65,973,085 66,103,812 65,857,660 66,093,004
Rental and Other Property Revenues [Member]        
Revenues:        
Total revenues $ 364,504 $ 348,610 $ 1,077,767 $ 1,040,083
Management and Other Fees From Affiliates Income [Member]        
Revenues:        
Total revenues 2,428 2,307 7,023 6,812
Essex Portfolio, L.P. [Member]        
Revenues:        
Total revenues 366,932 350,917 1,084,790 1,046,895
Expenses:        
Property operating, excluding real estate taxes 63,181 59,100 181,241 174,461
Real estate taxes 39,290 38,675 114,993 112,423
Corporate-level property management expenses 8,255 7,761 24,620 23,313
Depreciation and amortization 120,809 120,852 360,842 359,287
General and administrative 11,345 10,601 38,731 36,539
Expensed acquisition and investment related costs 13 31 69 156
Total expenses 242,893 237,020 720,496 706,179
Gain on sale of real estate and land 0 0 0 22,244
Earnings from operations 124,039 113,897 364,294 362,960
Interest expense (54,896) (55,196) (162,651) (166,335)
Total return swap income 2,154 2,184 6,174 6,682
Interest and other income 8,685 8,437 29,293 21,241
Equity income from co-investments 21,700 16,788 54,935 64,611
Deferred tax expense on unrealized gain on unconsolidated co-investment (1,457) 0 (1,457) 0
Gain on early retirement of debt, net 5,475 0 7,143 0
Gain on remeasurement of co-investment 0 0 31,535 0
Net income 105,700 86,110 329,266 289,159
Net income attributable to noncontrolling interest (2,901) (2,346) (7,935) (7,445)
Net income available to common stockholders 102,799 83,764 321,331 281,714
Comprehensive income 105,663 89,100 323,071 301,708
Comprehensive income attributable to noncontrolling interest (2,901) (2,346) (7,935) (7,445)
Comprehensive income attributable to controlling interest $ 102,762 $ 86,754 $ 315,136 $ 294,263
Basic:        
Net income available to common stockholders/unitholders (in dollars per share) $ 1.51 $ 1.23 $ 4.72 $ 4.12
Weighted average number of shares/common units outstanding during the period (in shares) 68,148,913 68,325,091 68,058,802 68,321,153
Diluted:        
Net income available to common stockholders/unitholders (in dollars per share) $ 1.51 $ 1.23 $ 4.71 $ 4.12
Weighted average number of shares/common units outstanding during the period (in shares) 68,271,474 68,376,795 68,158,548 68,366,167
Essex Portfolio, L.P. [Member] | Rental and Other Property Revenues [Member]        
Revenues:        
Total revenues $ 364,504 $ 348,610 $ 1,077,767 $ 1,040,083
Essex Portfolio, L.P. [Member] | Management and Other Fees From Affiliates Income [Member]        
Revenues:        
Total revenues $ 2,428 $ 2,307 $ 7,023 $ 6,812