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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Rental and other property $ 256,614 $ 148,781 $ 415,631 $ 293,839
Management and other fees 2,836 2,034 4,495 4,041
Total revenues 259,450 150,815 420,126 297,880
Expenses:        
Property operating, excluding real estate taxes 52,875 34,131 89,508 66,385
Real estate taxes 30,345 14,165 45,684 28,238
Depreciation 97,510 47,673 147,822 94,459
General and administrative 9,558 6,589 17,142 13,588
Merger expenses 26,497 0 42,556 0
Acquisition and dispositions costs 529 168 1,504 555
Total expenses 217,314 102,726 344,216 203,225
Earnings from operations 42,136 48,089 75,910 94,655
Interest expense (42,151) (29,327) (71,192) (57,468)
Interest and other income 2,814 1,917 5,693 6,939
Equity income in co-investments 5,629 7,282 16,155 11,493
Gain on early retirement of debt 0 1,024 0 1,024
Gains on sale of real estate and land 0 0 8,268 1,503
Income from continuing operations 8,428 28,985 34,834 58,146
Income from discontinued operations 0 590 0 1,132
Net income 8,428 29,575 34,834 59,278
Net income attributable to noncontrolling interest (2,125) (3,261) (5,251) (6,393)
Net income attributable to controlling interest 6,303 26,314 29,583 52,885
Dividends to preferred stockholders (1,314) (1,368) (2,682) (2,736)
Net income available to common stockholders 4,989 24,946 26,901 50,149
Comprehensive income 11,088 35,355 41,817 66,094
Comprehensive income attributable to noncontrolling interest (2,184) (3,574) (4,856) (6,761)
Comprehensive income attributable to controlling interest 8,904 31,781 36,961 59,333
Basic:        
Income from continuing operations (in dollars per share) $ 0.08 $ 0.65 $ 0.54 $ 1.32
Income from discontinued operations (in dollars per share) $ 0 $ 0.02 $ 0.00 $ 0.03
Net income available to common stockholders/unitholders (in dollars per share) $ 0.08 $ 0.67 $ 0.54 $ 1.35
Weighted average number of common shares outstanding during the period (in shares) 61,884,963 37,292,720 49,857,233 37,149,120
Diluted:        
Income from continuing operations (in dollars per share) $ 0.08 $ 0.65 $ 0.54 $ 1.32
Income from discontinued operations (in dollars per share) $ 0 $ 0.02 $ 0 $ 0.03
Net income available to common stockholders/unitholders (in dollars per share) $ 0.08 $ 0.67 $ 0.54 $ 1.35
Weighted average number of common shares outstanding during the period (in shares) 62,059,762 37,390,987 50,087,161 37,241,968
Dividends per common share (in dollars per share) $ 1.30 $ 1.21 $ 2.51 $ 2.42
Essex Portfolio, L.P. [Member]
       
Revenues:        
Rental and other property 256,614 148,781 415,631 293,839
Management and other fees 2,836 2,034 4,495 4,041
Total revenues 259,450 150,815 420,126 297,880
Expenses:        
Property operating, excluding real estate taxes 52,875 34,131 89,508 66,385
Real estate taxes 30,345 14,165 45,684 28,238
Depreciation 97,510 47,673 147,822 94,459
General and administrative 9,558 6,589 17,142 13,588
Merger expenses 26,497 0 42,556 0
Acquisition and dispositions costs 529 168 1,504 555
Total expenses 217,314 102,726 344,216 203,225
Earnings from operations 42,136 48,089 75,910 94,655
Interest expense (42,151) (29,327) (71,192) (57,468)
Interest and other income 2,814 1,917 5,693 6,939
Equity income in co-investments 5,629 7,282 16,155 11,493
Gain on early retirement of debt 0 1,024 0 1,024
Gains on sale of real estate and land 0 0 8,268 1,503
Income from continuing operations 8,428 28,985 34,834 58,146
Income from discontinued operations 0 590 0 1,132
Net income 8,428 29,575 34,834 59,278
Net income attributable to noncontrolling interest (1,916) (1,714) (3,625) (3,345)
Net income attributable to controlling interest 6,512 27,861 31,209 55,933
Dividends to preferred stockholders (1,314) (1,368) (2,682) (2,736)
Net income available to common stockholders 5,198 26,493 28,527 53,197
Comprehensive income 11,088 35,355 41,817 66,094
Comprehensive income attributable to noncontrolling interest (1,916) (1,714) (3,625) (3,345)
Comprehensive income attributable to controlling interest $ 9,172 $ 33,641 $ 38,192 $ 62,749
Basic:        
Income from continuing operations (in dollars per share) $ 0.08 $ 0.65 $ 0.54 $ 1.32
Income from discontinued operations (in dollars per share) $ 0 $ 0.02 $ 0 $ 0.03
Net income available to common stockholders/unitholders (in dollars per share) $ 0.08 $ 0.67 $ 0.54 $ 1.35
Weighted average number of common shares outstanding during the period (in shares) 64,058,505 39,444,214 52,127,261 39,264,790
Diluted:        
Income from continuing operations (in dollars per share) $ 0.08 $ 0.65 $ 0.54 $ 1.32
Income from discontinued operations (in dollars per share) $ 0 $ 0.02 $ 0 $ 0.03
Net income available to common stockholders/unitholders (in dollars per share) $ 0.08 $ 0.67 $ 0.54 $ 1.35
Weighted average number of common shares outstanding during the period (in shares) 64,233,304 39,542,481 52,357,189 39,357,638
Dividends per common share (in dollars per share) $ 1.30 $ 1.21 $ 2.51 $ 2.42