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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2018
Summary Of Significant Accounting Policies [Abstract] |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology | The fair value of the option grants are recognized over the requisite service/vesting period of the options. The fair value for the Company’s share options was estimated at the time the share options were granted using the Black-Scholes option pricing model with the primary grant in each year having the following weighted average assumptions:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Expected volatility (1) |  |  | 14.8 | % |  |  | 15.3 | % |  |  | 26.3 | %
Expected life (2) |  | 5 years |  |  | 5 years |  |  | 5 years |
Expected dividend yield (3) |  |  | 3.09 | % |  |  | 3.08 | % |  |  | 3.04 | %
Risk-free interest rate (4) |  |  | 2.52 | % |  |  | 1.93 | % |  |  | 1.27 | %
Option valuation per share |  | $ | 6.15 |  |  | $ | 5.86 |  |  | $ | 13.02 |
(1) | Expected volatility – For the 2018 and 2017 grants, estimated based on the historical five-year volatility (the period matching the expected life) of EQR’s share price measured on a monthly basis. For the 2016 grant, estimated based on the historical ten-year volatility of EQR’s share price measured on a monthly basis. This change in estimate reflects the Company’s belief that the historical five-year period provides a better estimate of the expected volatility in EQR shares over the expected life of the options.
(2) | Expected life – Approximates the actual weighted average life of all share options granted since the Company went public in 1993.
(3) | Expected dividend yield – Calculated by averaging the historical annual yield on EQR shares for a period matching the expected life of each grant, with the annual yield calculated by dividing actual regular dividends (excluding any special dividends) by the average price of EQR’s shares in a given year.
(4) | Risk-free interest rate – The most current U.S. Treasury rate available prior to the grant date for a period matching the expected life of each grant.
Allocation Of Income Franchise And Excise Taxes In Consolidated Statements Of Operations | The Company provided for income, franchise and excise taxes allocated as follows in the consolidated statements of operations and comprehensive income for the years ended December 31, 2018, 2017 and 2016 (amounts in thousands):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Income and other tax expense (benefit) (1) |  | $ | 878 |  |  | $ | 478 |  |  | $ | 1,613 |
Discontinued operations, net (2) |  |  | — |  |  |  | — |  |  |  | 12 |
Provision for income, franchise and excise taxes (3) |  | $ | 878 |  |  | $ | 478 |  |  | $ | 1,625 |
(1) | Primarily includes state and local income, excise and franchise taxes.
(2) | Primarily represents state and local income, excise and franchise taxes on operating properties sold prior to January 1, 2014 and included in discontinued operations. The amounts included in discontinued operations for the year ended December 31, 2016 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the years ended December 31, 2018, 2017 and 2016 met the criteria for reporting discontinued operations.
(3) | All provisions for income tax amounts are current and none are deferred.
Tax Treatment Of Dividends And Distributions | During the years ended December 31, 2018, 2017 and 2016, the Company’s tax treatment of dividends and distributions were as follows (unaudited):
|  | Year Ended December 31, |
|  | 2018 (1) |  |  | 2017 (2) |  |  | 2016 |
Tax treatment of dividends and distributions: |  |  |  |  |  |  |  |  |  |  |  |
Ordinary dividends |  | $ | 1.84454 |  |  | $ | 1.22126 |  |  | $ | 0.722 |
Long-term capital gain |  |  | 0.21423 |  |  |  | 0.18959 |  |  |  | 9.176 |
Unrecaptured section 1250 gain |  |  | 0.06498 |  |  |  | 0.10040 |  |  |  | 3.117 |
Dividends and distributions per |  |  |  |  |  |  |  |  |  |  |  |
Common Share/Unit outstanding |  | $ | 2.12375 |  |  | $ | 1.51125 |  |  | $ | 13.015 |
(1) | The Company’s fourth quarter 2018 dividends and distributions of $0.54 per Common Share/Unit outstanding will be included as taxable income in calendar year 2019.
(2) | The Company’s fourth quarter 2017 dividends and distributions of $0.50375 per Common Share/Unit outstanding will be included as taxable income in calendar year 2018.
Schedule of Disaggregation of Revenue Streams of Rental Income and Percentage of Rental Income | The following table presents the disaggregation of revenue streams of our rental income for the year ended December 31, 2018 (amounts in thousands):
|  |  |  | Year Ended December 31, 2018 |  |
Revenue Stream |  | Applicable Standard |  | Amount of Rental Income |  |  | Percentage of Rental Income |  |
Leasing revenue |  | Leases |  | $ | 2,418,168 |  |  |  | 93.8 | % |
Utility recoveries (“RUBS”) |  | Revenue Recognition |  |  | 63,218 |  |  |  | 2.5 | % |
Parking revenue |  | Revenue Recognition |  |  | 26,743 |  |  |  | 1.0 | % |
Other revenue |  | Revenue Recognition |  |  | 69,552 |  |  |  | 2.7 | % |
Rental income |  |  |  | $ | 2,577,681 |  |  |  | 100.0 | % |

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- Definition This table represents the allocation of state and local income, franchise and excise taxes on current operating properties as well as operating properties that have been sold. + References No definition available. + Details
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- Definition This table includes the option price per share that is calculated using the Black Scholes option pricing model and the assumptions used in the calculation: volatility of option price, the expected life of the option, the expected dividend yield (based on the life of the option) and the risk-free interest rate. + References No definition available. + Details
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- Definition Summary of significant accounting policies. + References No definition available. + Details
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- Definition This table represents the tax treatments of dividends paid to unit/shareholders. Ordinary dividends are taxed as ordinary income while qualified dividends are taxed as capital gains. This table also includes the nontaxable portions (deferred until unit/share sold) as long-term/short-term capital gains/losses. + References No definition available. + Details
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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9031-108599 + Details
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