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EPLP - Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Rental and other property $ 1,431,418,000 $ 1,486,150,000 $ 1,450,628,000
Management and other fees from affiliates 9,138,000 9,598,000 9,527,000
Total revenues 1,440,556,000 1,495,748,000 1,460,155,000
Expenses:      
Property operating, excluding real estate taxes 264,892,000 263,389,000 241,357,000
Real estate taxes 180,367,000 177,011,000 155,170,000
Corporate-level property management expenses 36,188,000 34,573,000 34,067,000
Depreciation and amortization 520,066,000 525,497,000 483,750,000
General and administrative 51,838,000 65,388,000 54,262,000
Expensed acquisition and investment related costs 203,000 1,591,000 168,000
Impairment loss 0 1,825,000 7,105,000
Total expenses 1,053,554,000 1,069,274,000 975,879,000
Gain (loss) on sale of real estate and land 142,993,000 64,967,000 (3,164,000)
Earnings from operations 529,995,000 491,441,000 481,112,000
Interest expense (203,125,000) (220,633,000) (217,339,000)
Total return swap income 10,774,000 10,733,000 8,446,000
Interest and other income 98,744,000 40,999,000 46,298,000
Equity income from co-investments 111,721,000 66,512,000 112,136,000
Deferred tax expense on unrealized gain on unconsolidated co-investment (15,668,000) (1,531,000) (1,457,000)
(Loss) gain on early retirement of debt, net (19,010,000) (22,883,000) 3,717,000
Gain on remeasurement of co-investment 2,260,000 234,694,000 31,535,000
Net income 515,691,000 599,332,000 464,448,000
Net income attributable to noncontrolling interest (27,137,000) (30,462,000) (25,162,000)
Net income available to common stockholders/unitholders $ 488,554,000 $ 568,870,000 $ 439,286,000
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 7.51 $ 8.69 $ 6.67
Weighted average number of shares/units outstanding during the year (in shares) 65,051,465 65,454,057 65,840,422
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 7.51 $ 8.69 $ 6.66
Weighted average number of shares/units outstanding during the year (in shares) 65,088,874 65,564,982 65,939,455
Essex Portfolio, L.P.      
Revenues:      
Rental and other property $ 1,431,418,000 $ 1,486,150,000 $ 1,450,628,000
Management and other fees from affiliates 9,138,000 9,598,000 9,527,000
Total revenues 1,440,556,000 1,495,748,000 1,460,155,000
Expenses:      
Property operating, excluding real estate taxes 264,892,000 263,389,000 241,357,000
Real estate taxes 180,367,000 177,011,000 155,170,000
Corporate-level property management expenses 36,188,000 34,573,000 34,067,000
Depreciation and amortization 520,066,000 525,497,000 483,750,000
General and administrative 51,838,000 65,388,000 54,262,000
Expensed acquisition and investment related costs 203,000 1,591,000 168,000
Impairment loss 0 1,825,000 7,105,000
Total expenses 1,053,554,000 1,069,274,000 975,879,000
Gain (loss) on sale of real estate and land 142,993,000 64,967,000 (3,164,000)
Earnings from operations 529,995,000 491,441,000 481,112,000
Interest expense (203,125,000) (220,633,000) (217,339,000)
Total return swap income 10,774,000 10,733,000 8,446,000
Interest and other income 98,744,000 40,999,000 46,298,000
Equity income from co-investments 111,721,000 66,512,000 112,136,000
Deferred tax expense on unrealized gain on unconsolidated co-investment (15,668,000) (1,531,000) (1,457,000)
(Loss) gain on early retirement of debt, net (19,010,000) (22,883,000) 3,717,000
Gain on remeasurement of co-investment 2,260,000 234,694,000 31,535,000
Net income 515,691,000 599,332,000 464,448,000
Net income attributable to noncontrolling interest (9,946,000) (10,550,000) (9,819,000)
Net income available to common stockholders/unitholders $ 505,745,000 $ 588,782,000 $ 454,629,000
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 7.51 $ 8.69 $ 6.67
Weighted average number of shares/units outstanding during the year (in shares) 67,340,856 67,750,665 68,140,900
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 7.51 $ 8.69 $ 6.66
Weighted average number of shares/units outstanding during the year (in shares) 67,378,265 67,861,590 68,239,933