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EPLP - Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 432,985,000 $ 515,691,000 $ 599,332,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Straight-lined rents 3,330,000 9,672,000 (19,426,000)
Depreciation and amortization 539,319,000 520,066,000 525,497,000
Amortization of discount on marketable securities 0 0 (19,075,000)
Amortization of discount and debt financing costs, net 6,712,000 9,538,000 6,674,000
Gain on sale of marketable securities (12,436,000) (3,400,000) (2,131,000)
Income from early redemption of notes receivable (811,000) (4,939,000) 0
Provision for credit losses 381,000 141,000 687,000
Unrealized losses (gains) on equity securities recognized through income 57,983,000 (33,104,000) (12,515,000)
Company's share of gain on the sales of co-investments 0 0 (2,225,000)
Earnings from co-investments (26,030,000) (111,721,000) (64,287,000)
Operating distributions from co-investments 95,256,000 104,833,000 74,419,000
Accrued interest from notes and other receivables (13,953,000) (15,902,000) (3,683,000)
Impairment loss 0 0 1,825,000
Gain on the sale of real estate and land (94,416,000) (142,993,000) (64,967,000)
Equity-based compensation 7,206,000 7,308,000 8,157,000
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)
Changes in operating assets and liabilities:      
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 5,183,000 4,878,000 (3,730,000)
Accounts payable, accrued liabilities, and operating lease liabilities (17,266,000) 22,298,000 (10,382,000)
Other liabilities 9,627,000 6,143,000 749,000
Net cash provided by operating activities 975,649,000 905,259,000 803,108,000
Additions to real estate:      
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (21,870,000) (153,481,000) (460,421,000)
Redevelopment (96,718,000) (61,671,000) (48,980,000)
Development acquisitions of and additions to real estate under development (27,713,000) (49,784,000) (108,781,000)
Capital expenditures on rental properties (163,193,000) (121,195,000) (90,085,000)
Investments in notes receivable (168,095,000) (245,144,000) (135,343,000)
Collections of notes and other receivables 412,006,000 104,405,000 98,711,000
Proceeds from insurance for property losses 4,325,000 879,000 723,000
Proceeds from dispositions of real estate 157,985,000 297,454,000 339,165,000
Contributions to co-investments (163,188,000) (306,266,000) (114,017,000)
Changes in refundable deposits (16,318,000) (9,486,000) 96,000
Purchases of marketable securities (18,109,000) (23,805,000) (83,379,000)
Sales and maturities of marketable securities 71,222,000 16,577,000 113,465,000
Non-operating distributions from co-investments 175,624,000 154,120,000 71,946,000
Net cash provided by (used in) investing activities 145,958,000 (397,397,000) (416,900,000)
Cash flows from financing activities:      
Proceeds from unsecured debt and mortgage notes 0 745,505,000 1,452,808,000
Payments on unsecured debt and mortgage notes (64,542,000) (1,053,501,000) (916,209,000)
Proceeds from lines of credit 1,376,452,000 1,050,589,000 1,038,426,000
Repayments of lines of credit (1,665,636,000) (709,332,000) (1,093,426,000)
Retirement of common stock (189,726,000) (9,172,000) (269,315,000)
Additions to deferred charges (2,638,000) (8,350,000) (13,772,000)
Payments related to debt prepayment penalties 0 (18,342,000) (19,605,000)
Net proceeds from issuance of common stock (314,000) (455,000) (296,000)
Net proceeds from stock options exercised 19,525,000 58,497,000 14,865,000
Payments related to tax withholding for share-based compensation (2,216,000) (5,445,000) (5,664,000)
Contributions from noncontrolling interest 125,000 1,900,000 0
Distributions to noncontrolling interest (30,740,000) (29,379,000) (30,990,000)
Redemption of noncontrolling interest (11,452,000) (8,457,000) (3,113,000)
Redemption of redeemable noncontrolling interest (478,000) (4,463,000) (872,000)
Common units distributions paid (565,924,000) (542,860,000) (536,098,000)
Net cash used in financing activities (1,137,564,000) (533,265,000) (383,261,000)
Net (decrease) increase in unrestricted and restricted cash and cash equivalents (15,957,000) (25,403,000) 2,947,000
Unrestricted and restricted cash and cash equivalents at beginning of period 58,638,000 84,041,000 81,094,000
Unrestricted and restricted cash and cash equivalents at end of period 42,681,000 58,638,000 84,041,000
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 198,323,000 194,203,000 211,732,000
Interest capitalized 2,272,000 6,153,000 14,615,000
Operating cash flows from operating leases 6,987,000 6,963,000 6,892,000
Supplemental disclosure of noncash investing and financing activities:      
Transfers between real estate under development and rental properties, net 100,737,000 328,393,000 253,039,000
Transfer from real estate under development to co-investments 2,276,000 3,068,000 1,739,000
Reclassifications (from) to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest (7,038,000) 6,890,000 (4,299,000)
Debt assumed in connection with acquisition 21,303,000 0 0
Essex Portfolio, L.P.      
Cash flows from operating activities:      
Net income 432,985,000 515,691,000 599,332,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Straight-lined rents 3,330,000 9,672,000 (19,426,000)
Depreciation and amortization 539,319,000 520,066,000 525,497,000
Amortization of discount on marketable securities 0 0 (19,075,000)
Amortization of discount and debt financing costs, net 6,712,000 9,538,000 6,674,000
Gain on sale of marketable securities (12,436,000) (3,400,000) (2,131,000)
Income from early redemption of notes receivable (811,000) (4,939,000) 0
Provision for credit losses 381,000 141,000 687,000
Unrealized losses (gains) on equity securities recognized through income 57,983,000 (33,104,000) (12,515,000)
Company's share of gain on the sales of co-investments 0 0 (2,225,000)
Earnings from co-investments (26,030,000) (111,721,000) (64,287,000)
Operating distributions from co-investments 95,256,000 104,833,000 74,419,000
Accrued interest from notes and other receivables (13,953,000) (15,902,000) (3,683,000)
Impairment loss 0 0 1,825,000
Gain on the sale of real estate and land (94,416,000) (142,993,000) (64,967,000)
Equity-based compensation 7,206,000 7,308,000 8,157,000
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)
Changes in operating assets and liabilities:      
Prepaid expenses, receivables, operating lease right-of-use assets, and other assets 5,183,000 4,878,000 (3,730,000)
Accounts payable, accrued liabilities, and operating lease liabilities (17,266,000) 22,298,000 (10,382,000)
Other liabilities 9,627,000 6,143,000 749,000
Net cash provided by operating activities 975,649,000 905,259,000 803,108,000
Additions to real estate:      
Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired (21,870,000) (153,481,000) (460,421,000)
Redevelopment (96,718,000) (61,671,000) (48,980,000)
Development acquisitions of and additions to real estate under development (27,713,000) (49,784,000) (108,781,000)
Capital expenditures on rental properties (163,193,000) (121,195,000) (90,085,000)
Investments in notes receivable (168,095,000) (245,144,000) (135,343,000)
Collections of notes and other receivables 412,006,000 104,405,000 98,711,000
Proceeds from insurance for property losses 4,325,000 879,000 723,000
Proceeds from dispositions of real estate 157,985,000 297,454,000 339,165,000
Contributions to co-investments (163,188,000) (306,266,000) (114,017,000)
Changes in refundable deposits (16,318,000) (9,486,000) 96,000
Purchases of marketable securities (18,109,000) (23,805,000) (83,379,000)
Sales and maturities of marketable securities 71,222,000 16,577,000 113,465,000
Non-operating distributions from co-investments 175,624,000 154,120,000 71,946,000
Net cash provided by (used in) investing activities 145,958,000 (397,397,000) (416,900,000)
Cash flows from financing activities:      
Proceeds from unsecured debt and mortgage notes 0 745,505,000 1,452,808,000
Payments on unsecured debt and mortgage notes (64,542,000) (1,053,501,000) (916,209,000)
Proceeds from lines of credit 1,376,452,000 1,050,589,000 1,038,426,000
Repayments of lines of credit (1,665,636,000) (709,332,000) (1,093,426,000)
Retirement of common stock (189,726,000) (9,172,000) (269,315,000)
Additions to deferred charges (2,638,000) (8,350,000) (13,772,000)
Payments related to debt prepayment penalties 0 (18,342,000) (19,605,000)
Net proceeds from issuance of common stock (314,000) (455,000) (296,000)
Net proceeds from stock options exercised 19,525,000 58,497,000 14,865,000
Payments related to tax withholding for share-based compensation (2,216,000) (5,445,000) (5,664,000)
Contributions from noncontrolling interest 125,000 1,900,000 0
Distributions to noncontrolling interest (8,450,000) (8,369,000) (8,409,000)
Redemption of noncontrolling interest (11,452,000) (8,457,000) (3,113,000)
Redemption of redeemable noncontrolling interest (478,000) (4,463,000) (872,000)
Common units distributions paid (588,214,000) (563,870,000) (558,679,000)
Net cash used in financing activities (1,137,564,000) (533,265,000) (383,261,000)
Net (decrease) increase in unrestricted and restricted cash and cash equivalents (15,957,000) (25,403,000) 2,947,000
Unrestricted and restricted cash and cash equivalents at beginning of period 58,638,000 84,041,000 81,094,000
Unrestricted and restricted cash and cash equivalents at end of period 42,681,000 58,638,000 84,041,000
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 198,323,000 194,203,000 211,732,000
Interest capitalized 2,272,000 6,153,000 14,615,000
Operating cash flows from operating leases 6,987,000 6,963,000 6,892,000
Supplemental disclosure of noncash investing and financing activities:      
Transfers between real estate under development and rental properties, net 100,737,000 328,393,000 253,039,000
Transfer from real estate under development to co-investments 2,276,000 3,068,000 1,739,000
Reclassifications (from) to redeemable noncontrolling interest from additional paid in capital and noncontrolling interest (7,038,000) 6,890,000 (4,299,000)
Debt assumed in connection with acquisition $ 21,303,000 $ 0 $ 0