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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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Rental and other property $ 268,118 $ 152,177 $ 683,749 $ 446,017
Management and other fees 2,361 1,771 6,856 5,812
Total revenues 270,479 153,948 690,605 451,829
Expenses:        
Property operating, excluding real estate taxes 55,900 35,787 145,410 102,170
Real estate taxes 31,768 14,535 77,452 42,773
Depreciation 102,184 48,227 254,211 142,687
General and administrative 11,479 6,263 28,621 19,852
Merger and integration expenses 3,857 0 46,413 0
Acquisition and dispositions costs 51 237 1,555 792
Total expenses 205,239 105,049 553,662 308,274
Earnings from operations 65,240 48,899 136,943 143,555
Interest expense (45,830) (29,192) (117,021) (86,661)
Interest and other income 2,992 2,387 8,685 9,326
Equity income in co-investments 4,910 40,802 21,065 52,295
Gains on sale of real estate and land 31,372 0 39,640 1,503
Gain (loss) on early retirement of debt 0 (178) 0 846
Income from continuing operations 58,684 62,718 89,312 120,864
Income from discontinued operations 0 13,157 0 14,289
Net income 58,684 75,875 89,312 135,153
Net income attributable to noncontrolling interest (3,720) (5,719) (8,971) (12,112)
Net income attributable to controlling interest 54,964 70,156 80,341 123,041
Dividends to preferred stockholders (1,296) (1,368) (3,977) (4,104)
Net income available to common stockholders 53,668 68,788 76,364 118,937
Comprehensive income 61,139 76,112 98,749 142,206
Comprehensive income attributable to noncontrolling interest (3,789) (5,732) (9,345) (12,493)
Comprehensive income attributable to controlling interest 57,350 70,380 89,404 129,713
Basic:        
Income from continuing operations (in dollars per share) $ 0.85 $ 1.51 $ 1.41 $ 2.84
Income from discontinued operations (in dollars per share) $ 0 $ 0.33 $ 0 $ 0.36
Net income available to common stockholders/unitholders (in dollars per share) $ 0.85 $ 1.84 $ 1.41 $ 3.20
Weighted average number of common shares outstanding during the period (in shares) 62,892,601 37,320,562 54,250,104 37,206,895
Diluted:        
Income from continuing operations (in dollars per share) $ 0.85 $ 1.51 $ 1.40 $ 2.83
Income from discontinued operations (in dollars per share) $ 0 $ 0.33 $ 0 $ 0.36
Net income available to common stockholders/unitholders (in dollars per share) $ 0.85 $ 1.84 $ 1.40 $ 3.19
Weighted average number of common shares outstanding during the period (in shares) 63,069,772 37,436,983 54,443,227 37,295,691
Dividends per common share (in dollars per share) $ 1.30 $ 1.21 $ 3.81 $ 3.63
Essex Portfolio, L.P. [Member]
       
Revenues:        
Rental and other property 268,118 152,177 683,749 446,017
Management and other fees 2,361 1,771 6,856 5,812
Total revenues 270,479 153,948 690,605 451,829
Expenses:        
Property operating, excluding real estate taxes 55,900 35,787 145,410 102,170
Real estate taxes 31,768 14,535 77,452 42,773
Depreciation 102,184 48,227 254,211 142,687
General and administrative 11,479 6,263 28,621 19,852
Merger and integration expenses 3,857 0 46,413 0
Acquisition and dispositions costs 51 237 1,555 792
Total expenses 205,239 105,049 553,662 308,274
Earnings from operations 65,240 48,899 136,943 143,555
Interest expense (45,830) (29,192) (117,021) (86,661)
Interest and other income 2,992 2,387 8,685 9,326
Equity income in co-investments 4,910 40,802 21,065 52,295
Gains on sale of real estate and land 31,372 0 39,640 1,503
Gain (loss) on early retirement of debt 0 (178) 0 846
Income from continuing operations 58,684 62,718 89,312 120,864
Income from discontinued operations 0 13,157 0 14,289
Net income 58,684 75,875 89,312 135,153
Net income attributable to noncontrolling interest (1,904) (1,730) (5,529) (5,075)
Net income attributable to controlling interest 56,780 74,145 83,783 130,078
Dividends to preferred stockholders (1,296) (1,368) (3,977) (4,104)
Net income available to common stockholders 55,484 72,777 79,806 125,974
Comprehensive income 61,139 76,112 98,749 142,206
Comprehensive income attributable to noncontrolling interest (1,904) (1,730) (5,529) (5,075)
Comprehensive income attributable to controlling interest $ 59,235 $ 74,382 $ 93,220 $ 137,131
Basic:        
Income from continuing operations (in dollars per share) $ 0.85 $ 1.51 $ 1.41 $ 2.84
Income from discontinued operations (in dollars per share) $ 0 $ 0.33 $ 0 $ 0.36
Net income available to common stockholders/unitholders (in dollars per share) $ 0.85 $ 1.84 $ 1.41 $ 3.20
Weighted average number of common shares outstanding during the period (in shares) 65,057,157 39,467,492 56,484,589 39,333,100
Diluted:        
Income from continuing operations (in dollars per share) $ 0.85 $ 1.51 $ 1.41 $ 2.84
Income from discontinued operations (in dollars per share) $ 0 $ 0.33 $ 0 $ 0.36
Net income available to common stockholders/unitholders (in dollars per share) $ 0.85 $ 1.84 $ 1.41 $ 3.20
Weighted average number of common shares outstanding during the period (in shares) 65,234,328 39,583,913 56,677,712 39,421,896
Dividends per common share (in dollars per share) $ 1.30 $ 1.21 $ 3.81 $ 3.63