XML 14 R17.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Long-Term Cash Incentive Plan | 6 Months Ended
--- | ---
Jun. 30, 2013
Long-Term Cash Incentive Plan | Long-Term Cash Incentive Plan On January 24, 2013, our Compensation, Nominating and Corporate Governance Committee (the “Committee”) approved a Long-Term Cash Incentive Plan Award (the “2013 LTIP”) to provide a long-term cash bonus opportunity to certain members of our management. The 2013 LTIP was approved by the Committee pursuant to the authority set forth in the Long Term Cash Incentive Plan approved by the Board of Directors on May 15, 2007. The total cumulative payment for all participants (the “Eligible Payment”) is based upon certain performance conditions being met over a three year period ending December 31, 2015. Note 11 – Long-Term Cash Incentive Plan (continued) The Committee has responsibility for administering the 2013 LTIP and may use its reasonable discretion to adjust the performance criteria or Eligible Payments to take into account the impact of any major or unforeseen transaction or event. Our executive officers are not participants in the 2013 LTIP. The Eligible Payment will be paid in cash upon completion of our annual audit for the 2015 fiscal year and upon satisfaction of the vesting conditions as outlined in the 2013 LTIP and, including employer costs, is currently estimated to be approximately $5.8 million. For the quarter and six months ended June 30, 2013, we had accrued compensation expense of approximately $0.5 million and $1.0 million, respectively. The amount accrued for the 2013 LTIP reflects our evaluation of the 2013 LTIP based on forecasts and other available information and is subject to performance in line with forecasts and final evaluation and determination by the Committee. There can be no assurances that our estimates of the probable outcome will be representative of the actual outcome.

X
- Definition General description of deferred compensation arrangements. Deferred compensation represents currently earned compensation that, under the terms of a profit-sharing, employee contract, or share-based (including stock option) plan, is not actually paid until a later date and is therefore not taxable until that date. May also include some split-dollar life insurance arrangements. This type of arrangement is usually made to help employees defer paying taxes on the income and also to retain employees longer. + References No definition available. + Details
Name: | els_DeferredCompensationPlansDisclosureTextBlock
Namespace Prefix: | els_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration