This excerpt taken from the EQR 10-Q filed Aug 7, 2006.
primarily attributable to higher overall payroll costs and training costs specific to the Companys rollout of a new property management system.
Depreciation expense from continuing operations, which includes depreciation on non-real estate assets, increased $32.1 million primarily as a result of additional depreciation expense on newly acquired properties and capital expenditures for all properties owned.
General and administrative expenses, which include corporate operating expenses, decreased approximately $4.2 million between the periods under comparison. This decrease was primarily due to lower executive compensation expense due to severance costs for several executive officers incurred during the quarter ended June 30, 2005 and a $2.8 million reimbursement of legal expenses during the quarter ended June 30, 2006.