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EPLP - Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Rental and other property $ 409,656 $ 379,216
Management and other fees from affiliates 2,765 2,689
Revenues 412,421 381,905
Expenses:    
Property operating, excluding real estate taxes 73,882 68,858
Real estate taxes 46,530 47,242
Corporate-level property management expenses 11,432 10,172
Depreciation and amortization 136,347 133,533
General and administrative 15,311 12,242
Expensed acquisition and investment related costs 339 8
Casualty loss 433 0
Total expenses 284,274 272,055
Gain on sale of real estate and land 59,238 0
Earnings from operations 187,385 109,850
Interest expense (51,045) (50,377)
Total return swap income 1,033 2,544
Interest and other income (loss) 12,450 (7,567)
Equity income from co-investments 10,871 21,171
Deferred tax benefit on unconsolidated co-investments 900 2,754
Net income 161,594 78,375
Net income attributable to noncontrolling interest (8,062) (5,121)
Net income available to common stockholders 153,532 73,254
Comprehensive income 151,300 98,856
Comprehensive income attributable to noncontrolling interest (7,712) (5,813)
Comprehensive income attributable to controlling interest $ 143,588 $ 93,043
Basic:    
Net income available to common unitholders (in dollars per share) $ 2.38 $ 1.12
Weighted average number of common units outstanding during the period (in shares) 64,458,535 65,275,775
Diluted:    
Net income available to common unitholders (in dollars per share) $ 2.38 $ 1.12
Weighted average number of common units outstanding during the period (in shares) 64,459,689 65,339,378
Essex Portfolio, L.P.    
Revenues:    
Rental and other property $ 409,656 $ 379,216
Management and other fees from affiliates 2,765 2,689
Revenues 412,421 381,905
Expenses:    
Property operating, excluding real estate taxes 73,882 68,858
Real estate taxes 46,530 47,242
Corporate-level property management expenses 11,432 10,172
Depreciation and amortization 136,347 133,533
General and administrative 15,311 12,242
Expensed acquisition and investment related costs 339 8
Casualty loss 433 0
Total expenses 284,274 272,055
Gain on sale of real estate and land 59,238 0
Earnings from operations 187,385 109,850
Interest expense (51,045) (50,377)
Total return swap income 1,033 2,544
Interest and other income (loss) 12,450 (7,567)
Equity income from co-investments 10,871 21,171
Deferred tax benefit on unconsolidated co-investments 900 2,754
Net income 161,594 78,375
Net income attributable to noncontrolling interest (2,658) (2,558)
Net income available to common stockholders 158,936 75,817
Comprehensive income 151,300 98,856
Comprehensive income attributable to noncontrolling interest (2,658) (2,558)
Comprehensive income attributable to controlling interest $ 148,642 $ 96,298
Basic:    
Net income available to common unitholders (in dollars per share) $ 2.38 $ 1.12
Weighted average number of common units outstanding during the period (in shares) 66,724,428 67,558,239
Diluted:    
Net income available to common unitholders (in dollars per share) $ 2.38 $ 1.12
Weighted average number of common units outstanding during the period (in shares) 66,725,582 67,621,842