XML 60 R41.htm IDEA: XBRL DOCUMENT
v3.20.4

Leases (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Leases [Abstract] |
Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income | The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the years ended December 31, 2020 and 2019 (amounts in thousands):
|  | Year Ended December 31, 2020 |  |  | Year Ended December 31, 2019 |
Income Type |  | Residential Leases |  |  | Non-Residential Leases |  |  | Total |  |  | Residential Leases |  |  | Non-Residential Leases |  |  | Total |
Residential and non-residential rent |  | $ | 2,336,778 |  |  | $ | 51,663 |  |  | $ | 2,388,441 |  |  | $ | 2,414,201 |  |  | $ | 71,988 |  |  | $ | 2,486,189 |
Utility recoveries (RUBS income) (1) |  |  | 70,699 |  |  |  | 677 |  |  |  | 71,376 |  |  |  | 67,659 |  |  |  | 917 |  |  |  | 68,576 |
Parking rent |  |  | 38,743 |  |  |  | 412 |  |  |  | 39,155 |  |  |  | 37,557 |  |  |  | 348 |  |  |  | 37,905 |
Storage rent |  |  | 3,674 |  |  |  | 84 |  |  |  | 3,758 |  |  |  | 3,745 |  |  |  | 71 |  |  |  | 3,816 |
Pet rent |  |  | 11,457 |  |  |  | — |  |  |  | 11,457 |  |  |  | 11,617 |  |  |  | — |  |  |  | 11,617 |
Total lease revenue |  | $ | 2,461,351 |  |  | $ | 52,836 |  |  |  | 2,514,187 |  |  | $ | 2,534,779 |  |  | $ | 73,324 |  |  |  | 2,608,103 |
Parking revenue |  |  |  |  |  |  |  |  |  |  | 22,210 |  |  |  |  |  |  |  |  |  |  |  | 28,272 |
Other revenue |  |  |  |  |  |  |  |  |  |  | 35,308 |  |  |  |  |  |  |  |  |  |  |  | 64,316 |
Total other rental income (2) |  |  |  |  |  |  |  |  |  |  | 57,518 |  |  |  |  |  |  |  |  |  |  |  | 92,588 |
Rental income |  |  |  |  |  |  |  |  |  | $ | 2,571,705 |  |  |  |  |  |  |  |  |  |  | $ | 2,700,691 |
(1) | RUBS income primarily consists of variable payments representing the recovery of utility costs from residents.
(2) | Other rental income is accounted for under the revenue recognition standard.
Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances | The following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of December 31, 2020 and 2019 (amounts in thousands):
|  | Residential |  |  | Non-Residential |
Balance Sheet (Other assets): |  | December 31, 2020 |  |  | December 31, 2019 |  |  | December 31, 2020 |  |  | December 31, 2019 |
Resident/tenant accounts receivable balances |  | $ | 30,856 |  |  | $ | 4,040 |  |  | $ | 7,598 |  |  | $ | 1,766 |
Allowance for doubtful accounts |  |  | (24,021 | ) |  |  | (1,190 | ) |  |  | (6,527 | ) |  |  | (1,412 | )
Net receivable balances |  | $ | 6,835 |  | (1) | $ | 2,850 |  |  | $ | 1,071 |  |  | $ | 354 |
Straight-line receivable balances |  | $ | 19,992 |  |  | $ | 1,841 |  |  | $ | 13,413 |  |  | $ | 26,450 |
(1) | The Company held residential security deposits approximating 31.6% of the net receivable balance at December 31, 2020.
Summary of Residential Bad Debt for Company's Properties | The following table presents residential bad debt for the Company’s properties for the years ended December 31, 2020 and 2019 (amounts in thousands):
|  | Year Ended December 31, |
Income Statement (Rental income): |  |  | 2020 |  |  |  | 2019 |
Bad debt, net |  | $ | 42,505 |  |  | $ | 12,067 |
% of rental income |  |  | 1.7 | % |  |  | 0.5 | %
Summary of Right-of-Use Assets and Related Lease Liabilities | The following table presents the Company’s ROU assets and related lease liabilities as of December 31, 2020 and 2019 (amounts in thousands):
|  | 2020 |  |  | 2019 |
Right-of-use assets: |  |  |  |  |  |  |  |
Corporate office leases (operating) |  | $ | 39,203 |  |  | $ | 41,596 |
Ground leases (finance) |  |  | 57,584 |  |  |  | 57,982 |
Ground leases (operating) |  |  | 402,500 |  |  |  | 413,196 |
Right-of-use assets |  | $ | 499,287 |  |  | $ | 512,774 |
Lease liabilities: |  |  |  |  |  |  |  |
Corporate office leases (operating) |  | $ | 40,470 |  |  | $ | 43,105 |
Ground leases (finance) |  |  | 23,350 |  |  |  | 23,239 |
Ground leases (operating) |  |  | 265,310 |  |  |  | 264,990 |
Lease liabilities |  | $ | 329,130 |  |  | $ | 331,334 |
Summary of Quantitative Disclosures for Lessees | The following tables illustrate the quantitative disclosures for lessees as of and for the years ended December 31, 2020 and 2019 (amounts in thousands):
|  | Year Ended December 31, 2020 |  |  | Year Ended December 31, 2019 |
Lease cost: |  |  |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | — |  |  | $ | — |
Interest on lease liabilities (capitalized) |  |  | 1,029 |  |  |  | 225 |
Operating lease cost: |  |  |  |  |  |  |  |
Corporate office leases |  |  | 3,747 |  |  |  | 3,937 |
Ground leases |  |  | 22,102 |  |  |  | 22,198 |
Variable lease cost: |  |  |  |  |  |  |  |
Corporate office leases |  |  | 1,307 |  |  |  | 1,489 |
Ground leases |  |  | 3,304 |  |  |  | 3,700 |
Total lease cost |  | $ | 31,489 |  |  | $ | 31,549 |
|  | December 31, 2020 |  |  | December 31, 2019 |
Other information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Investing cash flows from finance leases (capitalized) |  | $ | 567 |  |  | $ | 34,922 |
Operating cash flows from operating leases: |  |  |  |  |  |  |  |
Corporate office leases |  | $ | 5,296 |  |  | $ | 5,494 |
Ground leases |  | $ | 16,552 |  |  | $ | 16,837 |
ROU assets obtained in exchange for new finance lease liabilities |  | $ | — |  |  | $ | 23,201 |
ROU assets obtained in exchange for new operating lease liabilities: |  |  |  |  |  |  |  |
Corporate office leases |  | $ | — |  |  | $ | 44,298 |
Ground leases |  | $ | — |  |  | $ | 422,018 |
Weighted-average remaining lease term – finance leases (1) |  | 18.7 years |  |  | 19.7 years |
Weighted-average remaining lease term – operating leases: |  |  |  |  |  |  |  |
Corporate office leases |  | 17.4 years |  |  | 18.1 years |
Ground leases |  | 55.3 years |  |  | 56.2 years |
Weighted-average discount rate – finance leases |  |  | 3.0 | % |  |  | 3.0 | %
Weighted-average discount rate – operating leases: |  |  |  |  |  |  |  |
Corporate office leases |  |  | 3.2 | % |  |  | 3.2 | %
Ground leases |  |  | 5.0 | % |  |  | 5.0 | %
(1) | The weighted-average remaining lease term – finance leases does not include the remaining term of a fully prepaid finance lease entered into during the year ended December 31, 2019.
Summary of Undiscounted Cash Flows for Contractual Obligations for Minimum Rent Payments/Receipts | The following table summarizes the Company’s undiscounted cash flows for contractual obligations for minimum rent payments/receipts under operating and financing leases for the next five years and thereafter as of December 31, 2020:
(Payments)/Receipts Due by Year (in thousands) |
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | Thereafter |  |  | Total |
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Minimum Rent Payments (a) |  | $ | (578 | ) |  | $ | (590 | ) |  | $ | (601 | ) |  | $ | (614 | ) |  | $ | (626 | ) |  | $ | (33,224 | ) |  | $ | (36,233 | )
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Minimum Rent Payments (a) |  | $ | (17,160 | ) |  | $ | (16,906 | ) |  | $ | (16,997 | ) |  | $ | (17,329 | ) |  | $ | (17,375 | ) |  | $ | (954,108 | ) |  | $ | (1,039,875 | )
Minimum Rent Receipts (b) |  | $ | 59,430 |  |  | $ | 54,656 |  |  | $ | 51,091 |  |  | $ | 45,166 |  |  | $ | 38,847 |  |  | $ | 126,732 |  |  | $ | 375,922 |
(a) | Minimum basic rent due for corporate office leases and base rent due on ground leases where the Company is the lessee.
(b) | Minimum basic rent receipts due for various non-residential space where the Company is the lessor. Excludes residential leases due to their short-term nature.
Summary of Reconciliation of Lease Liabilities | The following table provides a reconciliation of lease liabilities from our undiscounted cash flows for minimum rent payments as of December 31, 2020 (amounts in thousands):
|  | 2020 |
Total minimum rent payments |  | $ | 1,076,108 |
Less: Lease discount |  |  | 746,978 |
Lease liabilities |  | $ | 329,130 |

X
- Definition Disclosure of right of use assets and related lease liabilities + References No definition available. + Details
Name: | eqr_DisclosureOfRightOfUseAssetsAndRelatedLeaseLiabilitiesTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Lessee operating and financing lease liability maturity. + References No definition available. + Details
Name: | eqr_LesseeOperatingAndFinancingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Operating and financing leases of lessee. + References No definition available. + Details
Name: | eqr_OperatingAndFinancingLeasesOfLesseeTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of residential and non-residential accounts receivable and straight-line receivable balances. + References No definition available. + Details
Name: | eqr_SummaryOfResidentialAndNonResidentialAccountsReceivableAndStraightLineReceivableBalancesTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of residential bad debt for company's properties. + References No definition available. + Details
Name: | eqr_SummaryOfResidentialBadDebtForCompanysPropertiesTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121576215&loc=SL77919372-209981 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 6A -URI http://asc.fasb.org/extlink&oid=121640914&loc=SL77927221-108306 + Details
Name: | us-gaap_OperatingLeaseLeaseIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration