This excerpt taken from the EQR 10-Q filed Aug 8, 2005.
Minority Interests as of June 30, 2005 decreased by $134.7 million when compared to December 31, 2004. The primary factors that impacted this account in the Companys consolidated statements of operations and balance sheets during the six months ended June 30, 2005 were:
The redemption or repurchase of 2.9 million Series B through F Preference Interests with a combined liquidation value of $146.0 million and a premium on redemption of $4.1 million;
Distributions declared to Minority Interests, which amounted to $18.0 million (excluding Junior Preference Unit and Preference Interest distributions);
The allocation of income from operations to holders of OP Units in the amount of $25.0 million;
The issuance of 55,197 OP Units for the acquisition of one property with a valuation of $1.8 million; and
The issuance of 544,732 OP Units to various limited partners with a valuation of $18.2 million.