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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Rental and other property $ 1,486,150 $ 1,450,628 $ 1,390,870
Management and other fees from affiliates 9,598 9,527 9,183
Total revenues 1,495,748 1,460,155 1,400,053
Expenses:      
Property operating, excluding real estate taxes 263,389 241,357 232,771
Real estate taxes 177,011 155,170 151,570
Corporate-level property management expenses 34,573 34,067 32,055
Depreciation and amortization 525,497 483,750 479,884
General and administrative 65,388 54,262 53,451
Expensed acquisition and investment related costs 1,591 168 194
Impairment loss 1,825 7,105 0
Total expenses 1,069,274 975,879 949,925
Gain (loss) on sale of real estate and land 64,967 (3,164) 61,861
Earnings from operations 491,441 481,112 511,989
Interest expense (220,633) (217,339) (220,492)
Total return swap income 10,733 8,446 8,707
Interest and other income 40,999 46,298 23,010
Equity income from co-investments 66,512 112,136 89,132
Deferred tax expense on unrealized gain on unconsolidated co-investment (1,531) (1,457) 0
(Loss) gain on early retirement of debt, net (22,883) 3,717 0
Gain on remeasurement of co-investment 234,694 31,535 1,253
Net income 599,332 464,448 413,599
Net income attributable to noncontrolling interest (30,462) (25,162) (23,446)
Net income available to common stockholders/unitholders $ 568,870 $ 439,286 $ 390,153
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 8.69 $ 6.67 $ 5.91
Weighted average number of shares/units outstanding during the year (in shares) 65,454,057 65,840,422 66,041,058
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 8.69 $ 6.66 $ 5.90
Weighted average number of shares/units outstanding during the year (in shares) 65,564,982 65,939,455 66,085,089
Essex Portfolio, L.P.      
Revenues:      
Rental and other property $ 1,486,150 $ 1,450,628 $ 1,390,870
Management and other fees from affiliates 9,598 9,527 9,183
Total revenues 1,495,748 1,460,155 1,400,053
Expenses:      
Property operating, excluding real estate taxes 263,389 241,357 232,771
Real estate taxes 177,011 155,170 151,570
Corporate-level property management expenses 34,573 34,067 32,055
Depreciation and amortization 525,497 483,750 479,884
General and administrative 65,388 54,262 53,451
Expensed acquisition and investment related costs 1,591 168 194
Impairment loss 1,825 7,105 0
Total expenses 1,069,274 975,879 949,925
Gain (loss) on sale of real estate and land 64,967 (3,164) 61,861
Earnings from operations 491,441 481,112 511,989
Interest expense (220,633) (217,339) (220,492)
Total return swap income 10,733 8,446 8,707
Interest and other income 40,999 46,298 23,010
Equity income from co-investments 66,512 112,136 89,132
Deferred tax expense on unrealized gain on unconsolidated co-investment (1,531) (1,457) 0
(Loss) gain on early retirement of debt, net (22,883) 3,717 0
Gain on remeasurement of co-investment 234,694 31,535 1,253
Net income 599,332 464,448 413,599
Net income attributable to noncontrolling interest (10,550) (9,819) (9,994)
Net income available to common stockholders/unitholders $ 588,782 $ 454,629 $ 403,605
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 8.69 $ 6.67 $ 5.91
Weighted average number of shares/units outstanding during the year (in shares) 67,750,665 68,140,900 68,315,999
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 8.69 $ 6.66 $ 5.90
Weighted average number of shares/units outstanding during the year (in shares) 67,861,590 68,239,933 68,360,030