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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Rental and other property $ 1,450,628 $ 1,390,870 $ 1,354,325
Total revenues 1,460,155 1,400,053 1,363,899
Expenses:      
Property operating, excluding real estate taxes 242,525 233,764 229,076
Real estate taxes 155,170 151,570 146,310
Corporate-level property management expenses 32,899 31,062 30,156
Depreciation and amortization 483,750 479,884 468,881
General and administrative 54,262 53,451 41,385
Expensed acquisition and investment related costs 168 194 1,569
Impairment loss 7,105 0 0
Total expenses 975,879 949,925 917,377
Gain (loss) on sale of real estate and land (3,164) 61,861 26,423
Earnings from operations 481,112 511,989 472,945
Interest expense (217,339) (220,492) (222,894)
Total return swap income 8,446 8,707 10,098
Interest and other income 46,298 23,010 24,604
Equity income from co-investments 112,136 89,132 86,445
Deferred tax expense on unrealized gain on unconsolidated co-investment (1,457) 0 0
Gain (loss) on early retirement of debt, net 3,717 0 (1,796)
Gain on remeasurement of co-investment 31,535 1,253 88,641
Net income 464,448 413,599 458,043
Net income attributable to noncontrolling interest (25,162) (23,446) (24,984)
Net income available to common stockholders/unitholders $ 439,286 $ 390,153 $ 433,059
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.67 $ 5.91 $ 6.58
Weighted average number of shares/units outstanding during the year (in shares) 65,840,422 66,041,058 65,829,155
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.66 $ 5.90 $ 6.57
Weighted average number of shares/units outstanding during the year (in shares) 65,939,455 66,085,089 65,898,255
Essex Portfolio, L.P.      
Revenues:      
Rental and other property $ 1,450,628 $ 1,390,870 $ 1,354,325
Total revenues 1,460,155 1,400,053 1,363,899
Expenses:      
Property operating, excluding real estate taxes 242,525 233,764 229,076
Real estate taxes 155,170 151,570 146,310
Corporate-level property management expenses 32,899 31,062 30,156
Depreciation and amortization 483,750 479,884 468,881
General and administrative 54,262 53,451 41,385
Expensed acquisition and investment related costs 168 194 1,569
Impairment loss 7,105 0 0
Total expenses 975,879 949,925 917,377
Gain (loss) on sale of real estate and land (3,164) 61,861 26,423
Earnings from operations 481,112 511,989 472,945
Interest expense (217,339) (220,492) (222,894)
Total return swap income 8,446 8,707 10,098
Interest and other income 46,298 23,010 24,604
Equity income from co-investments 112,136 89,132 86,445
Deferred tax expense on unrealized gain on unconsolidated co-investment (1,457) 0 0
Gain (loss) on early retirement of debt, net 3,717 0 (1,796)
Gain on remeasurement of co-investment 31,535 1,253 88,641
Net income 464,448 413,599 458,043
Net income attributable to noncontrolling interest (9,819) (9,994) (10,159)
Net income available to common stockholders/unitholders $ 454,629 $ 403,605 $ 447,884
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.67 $ 5.91 $ 6.58
Weighted average number of shares/units outstanding during the year (in shares) 68,140,900 68,315,999 68,081,730
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.66 $ 5.90 $ 6.57
Weighted average number of shares/units outstanding during the year (in shares) 68,239,933 68,360,030 68,150,830
Management and Other Fees from Affiliates      
Revenues:      
Management and other fees from affiliates $ 9,527 $ 9,183 $ 9,574
Management and Other Fees from Affiliates | Essex Portfolio, L.P.      
Revenues:      
Management and other fees from affiliates $ 9,527 $ 9,183 $ 9,574