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EPLP - Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Rental and other property $ 1,595,675,000 $ 1,431,418,000 $ 1,486,150,000
Management and other fees from affiliates 11,139,000 9,138,000 9,598,000
Total revenues 1,606,814,000 1,440,556,000 1,495,748,000
Expenses:      
Property operating, excluding real estate taxes 283,351,000 264,869,000 263,601,000
Real estate taxes 183,918,000 180,367,000 177,011,000
Corporate-level property management expenses 40,704,000 36,211,000 34,361,000
Depreciation and amortization 539,319,000 520,066,000 525,497,000
General and administrative 56,577,000 51,838,000 65,388,000
Expensed acquisition and investment related costs 2,132,000 203,000 1,591,000
Impairment loss 0 0 1,825,000
Total expenses 1,106,001,000 1,053,554,000 1,069,274,000
Gain on sale of real estate and land 94,416,000 142,993,000 64,967,000
Earnings from operations 595,229,000 529,995,000 491,441,000
Interest expense (204,798,000) (203,125,000) (220,633,000)
Total return swap income 7,907,000 10,774,000 10,733,000
Interest and other (loss) income (19,040,000) 98,744,000 40,999,000
Equity income from co-investments 26,030,000 111,721,000 66,512,000
Deferred tax benefit (expense) on unconsolidated co-investments 10,236,000 (15,668,000) (1,531,000)
Loss on early retirement of debt, net (2,000) (19,010,000) (22,883,000)
Gain on remeasurement of co-investment 17,423,000 2,260,000 234,694,000
Net income 432,985,000 515,691,000 599,332,000
Net income attributable to noncontrolling interest (24,670,000) (27,137,000) (30,462,000)
Net income available to common stockholders $ 408,315,000 $ 488,554,000 $ 568,870,000
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.27 $ 7.51 $ 8.69
Weighted average number of shares/units outstanding during the year (in shares) 65,079,764 65,051,465 65,454,057
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.27 $ 7.51 $ 8.69
Weighted average number of shares/units outstanding during the year (in shares) 65,098,186 65,088,874 65,564,982
Essex Portfolio, L.P.      
Revenues:      
Rental and other property $ 1,595,675,000 $ 1,431,418,000 $ 1,486,150,000
Management and other fees from affiliates 11,139,000 9,138,000 9,598,000
Total revenues 1,606,814,000 1,440,556,000 1,495,748,000
Expenses:      
Property operating, excluding real estate taxes 283,351,000 264,869,000 263,601,000
Real estate taxes 183,918,000 180,367,000 177,011,000
Corporate-level property management expenses 40,704,000 36,211,000 34,361,000
Depreciation and amortization 539,319,000 520,066,000 525,497,000
General and administrative 56,577,000 51,838,000 65,388,000
Expensed acquisition and investment related costs 2,132,000 203,000 1,591,000
Impairment loss 0 0 1,825,000
Total expenses 1,106,001,000 1,053,554,000 1,069,274,000
Gain on sale of real estate and land 94,416,000 142,993,000 64,967,000
Earnings from operations 595,229,000 529,995,000 491,441,000
Interest expense (204,798,000) (203,125,000) (220,633,000)
Total return swap income 7,907,000 10,774,000 10,733,000
Interest and other (loss) income (19,040,000) 98,744,000 40,999,000
Equity income from co-investments 26,030,000 111,721,000 66,512,000
Deferred tax benefit (expense) on unconsolidated co-investments 10,236,000 (15,668,000) (1,531,000)
Loss on early retirement of debt, net (2,000) (19,010,000) (22,883,000)
Gain on remeasurement of co-investment 17,423,000 2,260,000 234,694,000
Net income 432,985,000 515,691,000 599,332,000
Net income attributable to noncontrolling interest (10,373,000) (9,946,000) (10,550,000)
Net income available to common stockholders $ 422,612,000 $ 505,745,000 $ 588,782,000
Basic:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.27 $ 7.51 $ 8.69
Weighted average number of shares/units outstanding during the year (in shares) 67,356,105 67,340,856 67,750,665
Diluted:      
Net income available to common stockholders/unitholders (in dollars per share) $ 6.27 $ 7.51 $ 8.69
Weighted average number of shares/units outstanding during the year (in shares) 67,374,527 67,378,265 67,861,590