v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES        
Rental income $ 785,049 $ 768,827 $ 1,564,895 $ 1,529,637
EXPENSES        
Property and maintenance 142,754 136,274 292,410 280,247
Real estate taxes and insurance 122,257 112,332 239,283 224,084
Property management 38,149 34,786 73,290 70,602
General and administrative 16,640 18,531 33,505 36,786
Depreciation 246,379 240,889 493,875 497,635
Total expenses 566,179 542,812 1,132,363 1,109,354
Net gain (loss) on sales of real estate properties (16,744) 58,280 (16,776) 212,432
Interest and other income 12,954 2,129 15,192 3,821
Other expenses (10,004) (4,805) (50,792) (8,961)
Interest:        
Expense incurred, net (82,462) (75,317) (159,832) (147,431)
Amortization of deferred financing costs (2,145) (2,103) (4,290) (4,247)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 120,469 204,199 216,034 475,897
Income and other tax (expense) benefit (411) (407) (833) (829)
Income (loss) from investments in unconsolidated entities (2,318) (4,996) (4,360) (11,407)
Net gain (loss) on sales of land parcels       (78)
Net income 117,740 198,785 210,841 463,583
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,104) (1,203) (2,173) (2,307)
Net income attributable to controlling interests $ 114,135 $ 192,356 $ 204,214 $ 448,948
Earnings per Unit – basic:        
Net income available to Units $ 0.3 $ 0.51 $ 0.54 $ 1.18
Earnings per Unit – diluted:        
Net income available to Units $ 0.3 $ 0.5 $ 0.54 $ 1.18
Weighted average Units outstanding 383,878 391,498 384,528 391,345
ERPOP [Member]        
REVENUES        
Rental income $ 785,049 $ 768,827 $ 1,564,895 $ 1,529,637
EXPENSES        
Property and maintenance 142,754 136,274 292,410 280,247
Real estate taxes and insurance 122,257 112,332 239,283 224,084
Property management 38,149 34,786 73,290 70,602
General and administrative 16,640 18,531 33,505 36,786
Depreciation 246,379 240,889 493,875 497,635
Total expenses 566,179 542,812 1,132,363 1,109,354
Net gain (loss) on sales of real estate properties (16,744) 58,280 (16,776) 212,432
Interest and other income 12,954 2,129 15,192 3,821
Other expenses (10,004) (4,805) (50,792) (8,961)
Interest:        
Expense incurred, net (82,462) (75,317) (159,832) (147,431)
Amortization of deferred financing costs (2,145) (2,103) (4,290) (4,247)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 120,469 204,199 216,034 475,897
Income and other tax (expense) benefit (411) (407) (833) (829)
Income (loss) from investments in unconsolidated entities (2,318) (4,996) (4,360) (11,407)
Net gain (loss) on sales of land parcels   (11)   (78)
Net income 117,740 198,785 210,841 463,583
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties (1,104) (1,203) (2,173) (2,307)
Net income attributable to controlling interests 116,636 197,582 208,668 461,276
ALLOCATION OF NET INCOME:        
Preference Units 355 355 711 711
General Partner 113,780 192,001 203,503 448,237
Limited Partners 2,501 5,226 4,454 12,328
Net income available to Units $ 116,281 $ 197,227 $ 207,957 $ 460,565
Earnings per Unit – basic:        
Net income available to Units $ 0.3 $ 0.51 $ 0.54 $ 1.18
Weighted average Units outstanding 382,406 389,837 383,109 389,779
Earnings per Unit – diluted:        
Net income available to Units $ 0.3 $ 0.5 $ 0.54 $ 1.18
Weighted average Units outstanding 383,878 391,498 384,528 391,345