XML 61 R42.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Debt Instrument [Line Items] |
Summary of Mortgage Notes Payable Activity | The following tables summarize the Company’s mortgage notes payable activity for the years ended December 31, 2021 and 2020, respectively (amounts in thousands):
|  | Mortgage notes payable, net as of December 31, 2020 |  |  | Proceeds |  |  | Lump sum payoffs |  |  | Scheduled principal repayments |  |  | Amortization of premiums/ discounts |  |  | Amortization of deferred financing costs, net (1) |  |  | Mortgage notes payable, net as of December 31, 2021 |
Fixed Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured – Conventional |  | $ | 1,901,091 |  |  | $ | 28,500 |  | (2) | $ | (28,200 | ) |  | $ | (7,465 | ) |  | $ | 1,522 |  |  | $ | 1,024 |  |  | $ | 1,896,472 |
Floating Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured – Conventional |  |  | 31,494 |  |  |  | 29,928 |  | (3) |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,532 | ) |  |  | 59,890 |
Secured – Tax Exempt |  |  | 361,305 |  |  |  | — |  |  |  | (128,615 | ) |  |  | — |  |  |  | 1,242 |  |  |  | 907 |  |  |  | 234,839 |
Floating Rate Debt |  |  | 392,799 |  |  |  | 29,928 |  |  |  | (128,615 | ) |  |  | — |  |  |  | 1,242 |  |  |  | (625 | ) |  |  | 294,729 |
Total |  | $ | 2,293,890 |  |  | $ | 58,428 |  |  | $ | (156,815 | ) |  | $ | (7,465 | ) |  | $ | 2,764 |  |  | $ | 399 |  |  | $ | 2,191,201 |
(1) | Represents amortization of deferred financing costs, net of debt financing costs.
(2) | Obtained 3.58% fixed rate mortgage debt maturing on March 1, 2031.
(3) | Variable rate construction mortgage debt that is non-recourse to the Company maturing on June 25, 2022 (total commitment of $67.6 million).
|  | Mortgage notes payable, net as of December 31, 2019 |  |  | Proceeds |  |  | Lump sum payoffs |  |  | Scheduled principal repayments |  |  | Amortization of premiums/ discounts |  |  | Amortization of deferred financing costs, net (1) |  |  | Mortgage notes payable, net as of December 31, 2020 |
Fixed Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured – Conventional |  | $ | 1,574,699 |  |  | $ | 495,000 |  | (2) | $ | (160,522 | ) |  | $ | (7,759 | ) |  | $ | 988 |  |  | $ | (1,315 | ) |  | $ | 1,901,091 |
Floating Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured – Conventional |  |  | 7,050 |  |  |  | 24,204 |  | (3) |  | — |  |  |  | — |  |  |  | — |  |  |  | 240 |  |  |  | 31,494 |
Secured – Tax Exempt |  |  | 359,861 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,246 |  |  |  | 198 |  |  |  | 361,305 |
Floating Rate Debt |  |  | 366,911 |  |  |  | 24,204 |  |  |  | — |  |  |  | — |  |  |  | 1,246 |  |  |  | 438 |  |  |  | 392,799 |
Total |  | $ | 1,941,610 |  |  | $ | 519,204 |  |  | $ | (160,522 | ) |  | $ | (7,759 | ) |  | $ | 2,234 |  |  | $ | (877 | ) |  | $ | 2,293,890 |
(1) | Represents amortization of deferred financing costs, net of debt financing costs.
(2) | Obtained a 2.60% fixed rate mortgage loan pool maturing on May 1, 2030.
(3) | Variable rate construction mortgage debt that is non-recourse to the Company maturing on June 25, 2022 (total commitment of $67.6 million).
Schedule of Unsecured Revolving Credit Facility | The following table presents the availability on the Company’s unsecured revolving credit facility as of December 31, 2021 and 2020 (amounts in thousands):
|  | December 31, 2021 |  |  | December 31, 2020 |
Unsecured revolving credit facility commitment |  | $ | 2,500,000 |  |  | $ | 2,500,000 |
Commercial paper balance outstanding |  |  | (315,121 | ) |  |  | (415,000 | )
Unsecured revolving credit facility balance outstanding |  |  | — |  |  |  | — |
Other restricted amounts |  |  | (3,507 | ) |  |  | (100,949 | )
Unsecured revolving credit facility availability |  | $ | 2,181,372 |  |  | $ | 1,984,051 |
Summary of Debt Extinguishment Costs Recorded as Additional Interest Expense | Other The following table summarizes the Company’s total debt extinguishment costs recorded as additional interest expense during the years ended December 31, 2021, 2020 and 2019, respectively (amounts in thousands):
|  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
Prepayment premiums/penalties |  | $ | — |  |  | $ | 26,150 |  |  | $ | 13,647 |
Write-offs of unamortized deferred financing costs |  |  | 744 |  |  |  | 634 |  |  |  | 3,148 |
Write-offs of unamortized (premiums)/discounts/OCI |  |  | — |  |  |  | 12,508 |  |  |  | 7,196 |
Total |  | $ | 744 |  |  | $ | 39,292 |  |  | $ | 23,991 |
Summary of Aggregate Payments of Principal on All Debt | The following table provides a summary of the aggregate payments of principal on all debt for each of the next five years and thereafter as of December 31, 2021 (amounts in thousands):
Year |  | Total |
2022 (1) |  | $ | 641,089 |
2023 |  |  | 1,329,088 |
2024 |  |  | 6,100 |
2025 |  |  | 458,200 |
2026 |  |  | 601,025 |
Thereafter |  |  | 5,385,670 |
Subtotal |  |  | 8,421,172 |
Deferred Financing Costs and Unamortized (Discount) |  |  | (79,719 | )
Total |  | $ | 8,341,453 |
(1) | Includes $315.1 million in principal outstanding on the Company’s commercial paper program.
Mortgages [Member] |
Debt Instrument [Line Items] |
Summary of Certain Interest Rate and Maturity Date Information | The following table summarizes certain interest rate and maturity date information as of and for the years ended December 31, 2021 and 2020, respectively:
|  | December 31, 2021 |  |  | December 31, 2020 |
Interest Rate Ranges |  | 0.06% - 4.21% |  |  | 0.06% - 4.71% |
Weighted Average Interest Rate |  | 3.18% |  |  | 3.33% |
Maturity Date Ranges |  | 2022-2061 |  |  | 2021-2061 |
Notes [Member] |
Debt Instrument [Line Items] |
Summary of Certain Interest Rate and Maturity Date Information | The following table summarizes certain interest rate and maturity date information as of and for the years ended December 31, 2021 and 2020, respectively:
|  | December 31, 2021 |  |  | December 31, 2020 |
Interest Rate Ranges |  | 1.85% - 7.57% |  |  | 2.50% - 7.57% |
Weighted Average Interest Rate |  | 3.65% |  |  | 4.03% |
Maturity Date Ranges |  | 2023-2047 |  |  | 2023-2047 |
Summary of Notes Activity | The following tables summarize the Company’s notes activity for the years ended December 31, 2021 and 2020, respectively (amounts in thousands):
|  | Notes, net as of December 31, 2020 |  |  | Proceeds |  |  | Lump sum payoffs |  |  | Amortization of premiums/ discounts |  |  | Amortization of deferred financing costs, net (1) |  |  | Notes, net as of December 31, 2021 |
Fixed Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured – Public |  | $ | 5,335,536 |  |  | $ | 497,470 |  | (2) | $ | — |  |  | $ | 2,538 |  |  | $ | (322 | ) |  | $ | 5,835,222 |
(1) | Represents amortization of deferred financing costs, net of debt financing costs.
(2) | Issued $500.0 million of ten-year 1.85% unsecured notes, receiving net proceeds before underwriting fees and other expenses.
|  | Notes, net as of December 31, 2019 |  |  | Proceeds |  |  | Lump sum payoffs |  |  | Amortization of premiums/ discounts |  |  | Amortization of deferred financing costs, net (1) |  |  | Notes, net as of December 31, 2020 |
Fixed Rate Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured – Public |  | $ | 6,077,513 |  |  | $ | — |  |  | $ | (750,000 | ) |  | $ | 2,997 |  |  | $ | 5,026 |  |  | $ | 5,335,536 |
(1) | Represents amortization of deferred financing costs, net of debt financing costs.

X
- Definition Summary of debt extinguishment costs recorded as additional interest expense table text block. + References No definition available. + Details
Name: | eqr_SummaryOfDebtExtinguishmentCostsRecordedAsAdditionalInterestExpenseTableTextBlock
Namespace Prefix: | eqr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of notes activity. + References No definition available. + Details
Name: | eqr_SummaryOfNotesActivityTableTextBlock
Namespace Prefix: | eqr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for mortgage notes payable. + References No definition available. + Details
Name: | us-gaap_MortgageNotesPayableDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_MortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_NotesPayableOtherPayablesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |