ESSEX PROPERTY TRUST, INC. ESS Income Statement

Essex property trust, inc. (ESS)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Rental and other property
1,450,628	1,390,870	1,354,325	1,285,723	1,185,498	961,591	603,327	526,696	460,660	405,728	401,550	403,268
Management and other fees from affiliates
9,527	9,183	9,574	8,278	8,909	9,347	7,263	11,489	6,780	4,551	4,325	5,166
Total revenues
1,460,155	1,400,053	1,363,899	1,294,001	1,194,407	970,938	610,590	538,185	467,440	410,279	405,875	408,434
Expenses:
Property operating, excluding real estate taxes
242,525	233,764	229,076	219,655	234,953	204,673	140,060	123,813	113,733	104,049	101,168	99,310
Real estate taxes
155,170	151,570	146,310	139,162	128,555	107,873	57,276	48,354	43,777	39,115	36,289	33,107
Corporate, Property Management Expenses
32,899	31,062	30,156	30,110	-	-	-	-	-	-	-	-
Depreciation
483,750	479,884	468,881	441,682	453,423	360,592	192,420	169,173	150,009	128,221	116,540	109,701
General and Administrative Expense
54,262	53,451	41,385	40,751	40,090	40,878	26,684	23,307	20,694	23,255	24,966	27,684
Cost of management and other fees
-	-	-	-	-	-	-	6,513	4,610	2,707	3,096	-
Merger and integration expenses
-	-	-	-	3,798	53,530	-	-	-	-	-	-
Business Combination, Acquisition Related Costs
168	194	1,569	1,841	2,414	1,878	4,284	0	0	-	-	-
Acquisition and investment related costs
-	-	-	-	-	-	1,161	-	-	-	-	-
Asset Impairment Charges
7,105	0	0	-	-	-	-	-	-	2,302	13,084	650
Total expenses
975,879	949,925	917,377	873,201	863,233	769,424	421,885	371,160	332,823	299,649	295,143	270,452
Gains (Losses) on Sales of Investment Real Estate
-3,164	61,861	26,423	154,561	47,333	46,039	1,503	0	0	-	103	4,578
Earnings from operations
481,112	511,989	472,945	420,800	331,174	201,514	188,705	167,025	134,617	110,630	110,732	137,982
Interest expense
217,339	220,492	222,894	219,654	204,827	164,551	116,524	100,244	91,694	82,756	81,196	85,063
Total return swap income
8,446	8,707	10,098	11,716	5,655	0	0	-	-	-	-	-
Amortization expense
-	-	-	-	-	-	-	11,644	11,474	4,828	4,820	-
Interest and other income (loss)
46,298	23,010	24,604	27,305	19,143	11,811	11,633	13,833	17,139	27,841	13,040	11,337
Equity income from co-investments
112,136	89,132	86,445	48,698	21,861	39,893	55,865	41,745	-467	-1,715	670	7,820
Deferred tax expense on unrealized gain on unconsolidated co-investment
1,457	0	0	-	-	-	-	-	-	-	-	-
Gain on early retirement of debt, net
3,717	0	-1,796	-606	-6,114	-268	-300	-5,009	-1,163	-10	4,750	3,997
Deferred tax expense on gain on sale of real estate and land
-	-	-	4,410	0	0	-	-	-	-	-	-
Gain on remeasurement of co-investment
31,535	1,253	88,641	0	34,014	0	0	21,947	0	0	-	-
Income before discontinued operations
-	-	-	-	-	-	140,882	127,653	46,958	49,162	43,279	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	80,651
Income from discontinued operations
-	-	-	-	-	-	31,173	11,937	10,558	1,620	10,460	3,744
Net income
464,448	413,599	458,043	438,410	248,239	134,438	172,055	139,590	57,516	50,782	53,739	84,395
Net income attributable to noncontrolling interest
25,162	23,446	24,984	23,431	16,119	12,288	15,772	14,306	10,446	14,848	16,631	22,255
Net income attributable to controlling interest
-	-	-	414,979	232,120	122,150	156,283	125,284	47,070	35,934	37,108	62,140
Dividends to preferred stockholders
-	-	-	1,314	5,255	5,291	5,472	5,472	4,753	2,170	4,860	9,241
Preferred Stock Redemption Premium
-	-	-	2,541	0	0	-	0	1,949	0	-49,952	0
Net income available to common stockholders
439,286	390,153	433,059	411,124	226,865	116,859	150,811	119,812	40,368	33,764	82,200	52,899
Per share data:
Basic:
Income before discontinued operations available to common stockholders (in dollars per share)
-	-	-	-	-	-	3.26	3.10	0.94	1.09	2.66	1.96
Income from discontinued operations available to common stockholders (in dollars per share)
-	-	-	-	-	-	0.79	0.32	0.30	0.05	0.35	0.14
Net income available to common stockholders/unitholders (in dollars per share)
6.67	5.91	6.58	6.28	3.50	2.07	4.05	3.42	1.24	1.14	3.01	2.10
Weighted average number of shares/common units outstanding during the period (in shares)
65,840	66,041	65,829	65,471	64,871	56,546	37,248	35,032	32,541	29,667	27,269	25,205
Diluted:
Income before discontinued operations available to common stockholders (in dollars per share)
-	-	-	-	-	-	3.25	3.09	0.94	1.09	2.56	1.95
Income from discontinued operations available to common stockholders (in dollars per share)
-	-	-	-	-	-	0.79	0.32	0.30	0.05	0.35	0.14
Net income available to common stockholders/unitholders (in dollars per share)
6.66	5.90	6.57	6.27	3.49	2.06	4.04	3.41	1.24	1.14	2.91	2.09
Weighted average number of shares/common units outstanding during the period (in shares)
65,939	66,085	65,898	65,587	65,061	56,696	37,335	35,124	32,628	29,734	29,746	25,346
Essex Portfolio, L.P.
Rental and other property
1,450,628	1,390,870	1,354,325	-	-	-	-	-	-	-	-	-
Revenues
1,460,155	1,400,053	1,363,899	1,294,001	-	-	-	-	-	-	-	-
Property operating, excluding real estate taxes
242,525	233,764	229,076	219,655	-	-	-	-	-	-	-	-
Real estate taxes
155,170	151,570	146,310	139,162	-	-	-	-	-	-	-	-
Corporate, Property Management Expenses
32,899	31,062	30,156	30,110	-	-	-	-	-	-	-	-
Depreciation
483,750	479,884	468,881	441,682	-	-	-	-	-	-	-	-
General and Administrative Expense
54,262	53,451	41,385	40,751	-	-	-	-	-	-	-	-
Business Combination, Acquisition Related Costs
168	194	1,569	1,841	-	-	-	-	-	-	-	-
Asset Impairment Charges
7,105	0	0	-	-	-	-	-	-	-	-	-
Total expenses
975,879	949,925	917,377	873,201	-	-	-	-	-	-	-	-
Gains (Losses) on Sales of Investment Real Estate
-3,164	61,861	26,423	154,561	-	-	-	-	-	-	-	-
Earnings from operations
481,112	511,989	472,945	420,800	-	-	-	-	-	-	-	-
Interest expense
217,339	220,492	222,894	219,654	-	-	-	-	-	-	-	-
Total return swap income
8,446	8,707	10,098	11,716	-	-	-	-	-	-	-	-
Interest and other income (loss)
46,298	23,010	24,604	27,305	-	-	-	-	-	-	-	-
Equity income from co-investments
112,136	89,132	86,445	48,698	-	-	-	-	-	-	-	-
Deferred tax expense on unrealized gain on unconsolidated co-investment
1,457	0	0	-	-	-	-	-	-	-	-	-
Gain on early retirement of debt, net
3,717	0	-1,796	-606	-	-	-	-	-	-	-	-
Gain on remeasurement of co-investment
31,535	1,253	88,641	0	-	-	-	-	-	-	-	-
Net income
464,448	413,599	458,043	438,410	-	-	-	-	-	-	-	-
Net income attributable to noncontrolling interest
9,819	9,994	10,159	9,342	-	-	-	-	-	-	-	-
Net income available to common stockholders
454,629	403,605	447,884	425,213	-	-	-	-	-	-	-	-
Net income available to common stockholders/unitholders (in dollars per share)
6.67	5.91	6.58	6.28	-	-	-	-	-	-	-	-
Weighted average number of shares/common units outstanding during the period (in shares)
68,140	68,315	68,081	67,695	-	-	-	-	-	-	-	-
Net income available to common stockholders/unitholders (in dollars per share)
6.66	5.90	6.57	6.27	-	-	-	-	-	-	-	-
Weighted average number of shares/common units outstanding during the period (in shares)
68,239	68,360	68,150	67,811	-	-	-	-	-	-	-	-
Essex Portfolio, L.P. [Member]
Deferred tax expense on gain on sale of real estate and land
-	-	-	4,410	-	-	-	-	-	-	-	-
Net income attributable to controlling interest
-	-	-	429,068	-	-	-	-	-	-	-	-
Dividends to preferred stockholders
-	-	-	1,314	-	-	-	-	-	-	-	-
Preferred Stock Redemption Premium
-	-	-	2,541	-	-	-	-	-	-	-	-