XML 24 R54.htm IDEA: XBRL DOCUMENT v2.4.0.8
Net Income Per Common Share and Net Income Per Common Unit (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Basic:                      
Income from continuing operations available to common stockholders                 $ 121,324 $ 108,532 $ 30,570
Income from continuing operations available to common stockholders (in shares)                 37,248,960 35,032,491 32,541,792
Income from continuing operations available to common stockholders (in dollars per share)                 $ 3.26 $ 3.10 $ 0.94
Income from discontinued operations available to common stockholders                 29,487 11,280 9,798
Income from discontinued operations available to common stockholders (in shares)                 37,248,960 35,032,491 32,541,792
Income from discontinued operations available to common stockholders (in dollars per share)                 $ 0.79 $ 0.32 $ 0.30
Income available to common stockholders 31,874 68,788 24,946 25,203 43,793 16,219 37,078 22,722 150,811 119,812 40,368
Income available to common stockholders (in dollars per share) $ 0.85 $ 1.84 $ 0.67 $ 0.68 $ 1.22 $ 0.46 $ 1.07 $ 0.67 $ 4.05 $ 3.42 $ 1.24
Effect of Dilutive Securities                 0 [1] 0 [1] 0 [1]
Effect of Dilutive Securities (in shares)                 86,335 [1] 92,430 [1] 86,922 [1]
Diluted:                      
Income from continuing operations available to common stockholders                 121,324 [1] 108,532 [1] 30,570 [1]
Income from continuing operations available to common stockholders (in shares)                 37,335,295 [1] 35,124,921 [1] 32,628,714 [1]
Income from continuing operations available to common stockholders (in dollars per share)                 $ 3.25 [1] $ 3.09 [1] $ 0.94 [1]
Income from discontinued operations available to common stockholders                 29,487 11,280 9,798
Income from discontinued operations available to common stockholders (in shares)                 37,335,295 35,124,921 32,628,714
Income from discontinued operations available to common stockholders (in dollars per share)                 $ 0.79 $ 0.32 $ 0.30
Total income (Diluted)                 150,811 119,812 40,368
Total income per common share amount (in dollars per share) $ 0.85 $ 1.84 $ 0.67 $ 0.68 $ 1.22 $ 0.45 $ 1.07 $ 0.67 $ 4.04 $ 3.41 $ 1.24
Convertible Limited Partnership Units [Member]
                     
Diluted:                      
Anti-dilutive securities (in shares)                 2,131,425 2,219,046 2,231,807
Stock Options [Member]
                     
Diluted:                      
Anti-dilutive securities (in shares)                 168,325 263,613 175,500
Essex Portfolio, L.P. [Member]
                     
Basic:                      
Income from continuing operations available to common stockholders                 128,576 115,834 33,035
Income from continuing operations available to common stockholders (in shares)                 39,380,385 37,251,537 34,773,599
Income from continuing operations available to common stockholders (in dollars per share)                 $ 3.27 $ 3.11 $ 0.95
Income from discontinued operations available to common stockholders                 31,173 11,937 10,558
Income from discontinued operations available to common stockholders (in shares)                 39,380,385 37,251,537 34,773,599
Income from discontinued operations available to common stockholders (in dollars per share)                 $ 0.79 $ 0.32 $ 0.30
Income available to common stockholders 33,776 72,777 26,493 26,703 46,581 17,296 39,580 24,314 159,749 127,771 43,593
Income available to common stockholders (in dollars per share) $ 0.87 $ 1.84 $ 0.67 $ 0.68 $ 1.23 $ 0.46 $ 1.08 $ 0.67 $ 4.06 $ 3.43 $ 1.25
Effect of Dilutive Securities                 0 [2] 0 [2] 0 [2]
Effect of Dilutive Securities (in shares)                 86,335 [2] 92,430 [2] 67,319 [2]
Diluted:                      
Income from continuing operations available to common stockholders                 128,576 115,834 33,035
Income from continuing operations available to common stockholders (in shares)                 39,466,720 37,343,967 34,860,521
Income from continuing operations available to common stockholders (in dollars per share)                 $ 3.26 $ 3.10 $ 0.95
Income from discontinued operations available to common stockholders                 31,173 11,937 10,558
Income from discontinued operations available to common stockholders (in shares)                 39,466,720 37,343,967 34,860,521
Income from discontinued operations available to common stockholders (in dollars per share)                 $ 0.79 $ 0.32 $ 0.30
Total income (Diluted)                 $ 159,749 $ 127,771 $ 43,593
Total income per common share amount (in dollars per share) $ 0.86 $ 1.84 $ 0.67 $ 0.68 $ 1.23 $ 0.45 $ 1.07 $ 0.67 $ 4.05 $ 3.42 $ 1.25
Essex Portfolio, L.P. [Member] | Convertible Limited Partnership Units [Member]
                     
Diluted:                      
Anti-dilutive securities (in shares)                 168,325 175,500  
Essex Portfolio, L.P. [Member] | Stock Options [Member]
                     
Diluted:                      
Anti-dilutive securities (in shares)                 263,613    
[1] Weighted average convertible limited partnership units of 2,131,425, 2,219,046, and 2,231,807, which include vested Series Z and Series Z-1 incentive units, for the years ended December 31, 2013, 2012 and 2011, respectively, were not included in the determination of diluted earnings per share calculation because they were anti-dilutive. The Company has the ability to redeem DownREIT limited partnership units for cash and does not consider them to be potentially dilutive securities. Stock options of 168,325; 263,613; and 175,500; for the years ended December 31, 2013, 2012, and 2011, respectively, were not included in the diluted earnings per share calculation because the exercise price of these options were greater than the average market price of the common shares for the years ended and, therefore, were anti-dilutive. All shares of cumulative convertible Series G preferred stock have been excluded from diluted earnings per share for the years ended 2013, 2012, and 2011 respectively, as the effect was anti-dilutive.
[2] The Operating Partnership has the ability to redeem DownREIT limited partnership units for cash and does not consider them to be potentially dilutive securities. Stock options of 168,325; 263,613; and 175,500; for the years ended December 31, 2013, 2012, and 2011, respectively, were not included in the diluted earnings per unit calculation because the exercise price of these units were greater than the average market price of the common units for the years ended and, therefore, were anti-dilutive. All units of cumulative convertible Series G preferred interest have been excluded from diluted earnings per unit for the years ended 2013, 2012, and 2011 respectively, as the effect was anti-dilutive.