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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2014
Quarterly Financial Data [Abstract] |
Quarterly Financial Data (Unaudited) |
19. | Quarterly Financial Data (Unaudited)
Equity Residential The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for per share amounts.
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2014 |  | 3/31 |  | 6/30 |  | 9/30 |  | 12/31
Total revenues |  | $ | 633,442 |  |  | $ | 652,568 |  |  | $ | 664,078 |  |  | $ | 664,660 |
Operating income |  | 199,259 |  |  | 228,310 |  |  | 243,274 |  |  | 250,532 |
Income from continuing operations |  | 81,680 |  |  | 117,210 |  |  | 231,252 |  |  | 226,959 |
Discontinued operations, net |  | 1,052 |  |  | 510 |  |  | (62 | ) |  | 82 |
Net income * |  | 82,732 |  |  | 117,720 |  |  | 231,190 |  |  | 227,041 |
Net income available to Common Shares |  | 78,099 |  |  | 111,654 |  |  | 220,707 |  |  | 216,703 |
Earnings per share – basic: |  |  |  |  |  |  |  |
Net income available to Common Shares |  | $ | 0.22 |  |  | $ | 0.31 |  |  | $ | 0.61 |  |  | $ | 0.60 |
Weighted average Common Shares outstanding |  | 360,470 |  |  | 360,809 |  |  | 361,409 |  |  | 362,018 |
Earnings per share – diluted: |  |  |  |  |  |  |  |
Net income available to Common Shares |  | $ | 0.22 |  |  | $ | 0.31 |  |  | $ | 0.61 |  |  | $ | 0.59 |
Weighted average Common Shares outstanding |  | 376,384 |  |  | 377,118 |  |  | 377,954 |  |  | 378,886 |
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2013 |  | 3/31 |  | 6/30 |  | 9/30 |  | 12/31
Total revenues |  | $ | 504,722 |  |  | $ | 617,217 |  |  | $ | 626,629 |  |  | $ | 639,134 |
Operating income |  | 104,254 |  |  | 63,986 |  |  | 120,405 |  |  | 223,677 |
(Loss) income from continuing operations |  | (165,339 | ) |  | (58,511 | ) |  | (13,465 | ) |  | 69,141 |
Discontinued operations, net |  | 1,226,373 |  |  | 395,243 |  |  | 405,182 |  |  | 46,729 |
Net income * |  | 1,061,034 |  |  | 336,732 |  |  | 391,717 |  |  | 115,870 |
Net income available to Common Shares |  | 1,016,650 |  |  | 323,723 |  |  | 376,155 |  |  | 109,940 |
Earnings per share – basic: |  |  |  |  |  |  |  |
Net income available to Common Shares |  | $ | 3.01 |  |  | $ | 0.90 |  |  | $ | 1.05 |  |  | $ | 0.31 |
Weighted average Common Shares outstanding |  | 337,532 |  |  | 359,653 |  |  | 359,811 |  |  | 359,919 |
Earnings per share – diluted: |  |  |  |  |  |  |  |
Net income available to Common Shares |  | $ | 3.01 |  |  | $ | 0.90 |  |  | $ | 1.05 |  |  | $ | 0.30 |
Weighted average Common Shares outstanding |  | 337,532 |  |  | 359,653 |  |  | 359,811 |  |  | 375,860 |
* The Company did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2014 and 2013. Therefore, income before extraordinary items and cumulative effect of change in accounting principle is not shown as it was equal to the net income amounts disclosed above. ERP Operating Limited Partnership The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for per Unit amounts.
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2014 |  | 3/31 |  | 6/30 |  | 9/30 |  | 12/31
Total revenues |  | $ | 633,442 |  |  | $ | 652,568 |  |  | $ | 664,078 |  |  | $ | 664,660 |
Operating income |  | 199,259 |  |  | 228,310 |  |  | 243,274 |  |  | 250,532 |
Income from continuing operations |  | 81,680 |  |  | 117,210 |  |  | 231,252 |  |  | 226,959 |
Discontinued operations, net |  | 1,052 |  |  | 510 |  |  | (62 | ) |  | 82 |
Net income * |  | 82,732 |  |  | 117,720 |  |  | 231,190 |  |  | 227,041 |
Net income available to Units |  | 81,192 |  |  | 116,096 |  |  | 229,445 |  |  | 225,261 |
Earnings per Unit – basic: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to Units |  | $ | 0.22 |  |  | $ | 0.31 |  |  | $ | 0.61 |  |  | $ | 0.60 |
Weighted average Units outstanding |  | 374,201 |  |  | 374,551 |  |  | 375,116 |  |  | 375,711 |
Earnings per Unit – diluted: |  |  |  |  |  |  |  |  |  |  |
Net income available to Units |  | $ | 0.22 |  |  | $ | 0.31 |  |  | $ | 0.61 |  |  | $ | 0.59 |
Weighted average Units outstanding |  | 376,384 |  |  | 377,118 |  |  | 377,954 |  |  | 378,886 |
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2013 |  | 3/31 |  | 6/30 |  | 9/30 |  | 12/31
Total revenues |  | $ | 504,722 |  |  | $ | 617,217 |  |  | $ | 626,629 |  |  | $ | 639,134 |
Operating income |  | 104,254 |  |  | 63,986 |  |  | 120,405 |  |  | 223,677 |
(Loss) income from continuing operations |  | (165,339 | ) |  | (58,511 | ) |  | (13,465 | ) |  | 69,141 |
Discontinued operations, net |  | 1,226,373 |  |  | 395,243 |  |  | 405,182 |  |  | 46,729 |
Net income * |  | 1,061,034 |  |  | 336,732 |  |  | 391,717 |  |  | 115,870 |
Net income available to Units |  | 1,059,973 |  |  | 336,511 |  |  | 390,991 |  |  | 114,271 |
Earnings per Unit – basic: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to Units |  | $ | 3.01 |  |  | $ | 0.90 |  |  | $ | 1.05 |  |  | $ | 0.31 |
Weighted average Units outstanding |  | 351,255 |  |  | 373,403 |  |  | 373,547 |  |  | 373,643 |
Earnings per Unit – diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to Units |  | $ | 3.01 |  |  | $ | 0.90 |  |  | $ | 1.05 |  |  | $ | 0.30 |
Weighted average Units outstanding |  | 351,255 |  |  | 373,403 |  |  | 373,547 |  |  | 375,860 |
* The Operating Partnership did not have any extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2014 and 2013. Therefore, income before extraordinary items and cumulative effect of change in accounting principle is not shown as it was equal to the net income amounts disclosed above.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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