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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 22, 2019
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	ELS
Entity Registrant Name	EQUITY LIFESTYLE PROPERTIES INC
Entity Central Index Key	0000895417
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		89,998,829

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Investment in real estate:
Land	$ 1,412,050	$ 1,408,832
Land improvements	3,184,597	3,143,745
Buildings and other depreciable property	747,268	720,900
Investment in real estate	5,343,915	5,273,477
Accumulated depreciation	(1,668,008)	(1,631,888)
Net investment in real estate	3,675,907	3,641,589
Cash and restricted cash	144,222	68,974
Notes receivable, net	34,811	35,041
Investment in unconsolidated joint ventures	58,465	57,755
Deferred commission expense	40,405	40,308
Other assets, net	55,067	46,227
Assets held for sale, net	0	35,914
Total Assets	4,008,877	3,925,808
Liabilities:
Mortgage notes payable, net	2,147,490	2,149,726
Term loan, net	198,706	198,626
Accounts payable and other liabilities	120,298	102,854
Accrued interest payable	8,729	8,759
Rents and other customer payments received in advance and security deposits	86,519	81,114
Distributions payable	58,637	52,617
Liabilities related to assets held for sale	0	12,350
Total Liabilities	2,751,559	2,732,464
Stockholders’ Equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized as of March 31, 2019 and December 31, 2018; none issued and outstanding.	0	0
Common stock, $0.01 par value, 200,000,000 shares authorized as of March 31, 2019 and December 31, 2018; 89,996,134 and 89,921,018 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively.	896	896
Paid-in capital	1,332,410	1,329,391
Distributions in excess of accumulated earnings	(152,848)	(211,034)
Accumulated other comprehensive income	1,368	2,299
Total Stockholders’ Equity	1,181,826	1,121,552
Non-controlling interests – Common OP Units	75,492	71,792
Total Equity	1,257,318	1,193,344
Total Liabilities and Equity	4,008,877	3,925,808
Right-to-use contract upfront payments, deferred, net
Liabilities:
Deferred revenue	118,134	116,363
Right-to-use annual payments
Liabilities:
Deferred revenue	$ 13,046	$ 10,055

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	89,996,134	89,921,018
Common stock, shares outstanding	89,996,134	89,921,018

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Rental income	$ 223,566	$ 206,993
Other income	10,370	13,036
Interest income	1,751	1,950
Income from other investments, net	986	940
Total revenues	259,090	246,025
Expenses:
Property operating and maintenance	77,948	76,332
Real estate taxes	15,323	14,135
Sales and marketing, gross	3,409	2,812
Right-to-use contract commissions, deferred, net	(191)	(24)
Depreciation and amortization	37,977	32,374
Home selling expenses	1,083	1,075
General and administrative	9,909	8,038
Other expenses	427	343
Interest and related amortization	26,393	25,703
Total expenses	192,595	183,043
Gain on sale of real estate, net	52,507	0
Income before equity in income of unconsolidated joint ventures	119,002	62,982
Equity in income of unconsolidated joint ventures	1,533	1,195
Consolidated net income	120,535	64,177
Income allocated to non-controlling interests – Common OP Units	(7,226)	(3,955)
Net income available for Common Stockholders	113,309	60,222
Other comprehensive income (loss):
Adjustment for fair market value of swap	(931)	1,873
Consolidated comprehensive income	119,604	66,050
Comprehensive income allocated to non-controlling interests – Common OP Units	(7,170)	(4,070)
Comprehensive income attributable to Common Stockholders	$ 112,434	$ 61,980
Earnings per Common Share – Basic (usd per share)	$ 1.26	$ 0.68
Earnings per Common Share – Fully Diluted (usd per share)	$ 1.26	$ 0.68
Weighted average Common Shares outstanding – basic (shares)	89,780	88,524
Weighted average Common Shares outstanding – fully diluted (shares)	95,624	94,577
Right-to-use annual payments
Revenues:
Contract revenue	$ 12,316	$ 11,519
Right-to-use contracts current period, gross
Revenues:
Contract revenue	3,838	3,162
Right-to-use contract upfront payments, deferred, net
Revenues:
Contract revenue	(1,771)	(1,285)
Gross revenues from home sales
Revenues:
Contract revenue	6,475	8,309
Expenses:
Cost of services	6,632	8,574
Brokered resale and ancillary services revenues, net
Revenues:
Contract revenue	1,559	1,401
Property management
Expenses:
Cost of services	$ 13,685	$ 13,681

Consolidated Statements of Changes In Equity - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Distributions in Excess of Accumulated Earnings	Accumulated Other Comprehensive Income (Loss)	Non- controlling interests – Common OP Units
Balance at Dec. 31, 2017	$ 1,100,042	$ 883	$ 1,242,109	$ (211,980)	$ 942	$ 68,088
Increase (Decrease) in Stockholders' Equity
Exchange of Common OP Units for common stock	0	0	80			(80)
Issuance of common stock through employee stock purchase plan	503		503
Compensation expenses related to restricted stock and stock options	1,800		1,800
Adjustment for Common OP Unitholders in the Operating Partnership	0		782			(782)
Adjustment for fair market value of swap	1,873				1,873
Consolidated net income	64,177			60,222		3,955
Distributions	(52,010)			(48,805)		(3,205)
Other	(60)		(60)	0
Balance at Mar. 31, 2018	1,101,139	883	1,245,214	(215,749)	2,815	67,976
Balance at Dec. 31, 2018	1,193,344	896	1,329,391	(211,034)	2,299	71,792
Increase (Decrease) in Stockholders' Equity
Exchange of Common OP Units for common stock	0		66			(66)
Issuance of common stock through exercise of options	53		53
Issuance of common stock through employee stock purchase plan	652		652
Compensation expenses related to restricted stock and stock options	2,420		2,420
Repurchase of common stock or Common OP Units	(53)		(53)
Adjustment for Common OP Unitholders in the Operating Partnership	0		(56)			56
Adjustment for fair market value of swap	(931)				(931)
Consolidated net income	120,535			113,309		7,226
Distributions	(58,639)			(55,123)		(3,516)
Other	(63)		(63)
Balance at Mar. 31, 2019	$ 1,257,318	$ 896	$ 1,332,410	$ (152,848)	$ 1,368	$ 75,492

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows From Operating Activities:
Consolidated net income	$ 120,535	$ 64,177
Adjustments to reconcile Consolidated net income to Net cash provided by operating activities:
Gain on sale of real estate, net	(52,507)	0
Depreciation and amortization	38,404	32,717
Amortization of loan costs	887	871
Debt premium amortization	(101)	(357)
Equity in income of unconsolidated joint ventures	(1,533)	(1,195)
Distributions of income from unconsolidated joint ventures	677	490
Proceeds from insurance claims, net	4,150	3,031
Compensation expense related to restricted stock and stock options	2,420	1,800
Revenue recognized from right-to-use contract upfront payments	(2,067)	(1,877)
Commission expense recognized related to right-to-use contracts	938	901
Long-term incentive plan compensation	(3,987)	238
Changes in assets and liabilities:
Notes receivable activity, net	122	639
Deferred commission expense	(1,035)	(812)
Other assets, net	(9,238)	8,977
Accounts payable and other liabilities	20,402	4,527
Rents and other customer payments received in advance and security deposits	3,202	1,233
Net cash provided by operating activities	128,098	121,701
Cash Flows From Investing Activities:
Real estate acquisitions, net	(13,012)	(29,929)
Proceeds from disposition of property, net	77,746	0
Investment in unconsolidated joint ventures	0	(3,791)
Distributions of capital from unconsolidated joint ventures	58	0
Proceeds from insurance claims	761	265
Repayments of notes receivable	0	13,823
Capital improvements	52,441	31,316
Net cash provided by (used in) investing activities	13,112	(50,948)
Cash Flows From Financing Activities:
Proceeds from stock options and employee stock purchase plan	652	503
Distributions:
Common Stockholders	(49,457)	(43,202)
Common OP Unitholders	(3,161)	(2,844)
Principal payments and mortgage debt payoff	(13,683)	(11,787)
New mortgage notes payable financing proceeds	0	64,014
Line of Credit payoff	0	(77,000)
Line of Credit proceeds	0	47,000
Debt issuance and defeasance costs	(250)	(1,645)
Other	(63)	(57)
Net cash used in financing activities	(65,962)	(25,018)
Net increase in Cash and restricted cash	75,248	45,735
Cash and restricted cash, beginning of period	68,974	35,631
Cash and restricted cash, end of period	144,222	81,366
Supplemental Information:
Cash paid during the period for interest	25,729	25,943
Building and other depreciable property – reclassification of rental homes	5,520	9,385
Other assets, net – reclassification of rental homes	(5,520)	(9,385)
Real estate acquisitions:
Investment in real estate	(25,797)	(48,186)
Debt assumed	11,208	9,200
Debt financed	0	8,786
Other liabilities	1,577	271
Real estate acquisitions, net	(13,012)	(29,929)
Real estate dispositions:
Investment in real estate	35,572	0
Notes receivable, net	295	0
Other assets, net	97	0
Mortgage notes payable, net	(11,175)	0
Other liabilities	450	0
Gain on sale of real estate, net	(52,507)	0
Proceeds from disposition of property, net	77,746	0
Right-to-use contract upfront payments, deferred, net
Changes in assets and liabilities:
Deferred revenue	3,838	3,162
Right-to-use annual payments
Changes in assets and liabilities:
Deferred revenue	$ 2,991	$ 3,179

Organization and Basis of Presentation	3 Months Ended
Organization and Basis of Presentation	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Equity LifeStyle Properties, Inc. ("ELS"), a Maryland corporation, together with MHC Operating Limited Partnership (the “Operating Partnership”) and its other consolidated subsidiaries (the “Subsidiaries”) are referred to herein as “we,” “us,” "the Company," and “our.” We are a fully integrated owner and operator of lifestyle-oriented properties ("Properties") consisting primarily of manufactured home ("MH") and recreational vehicle ("RV") communities. We provide our customers the opportunity to place factory-built homes, cottages, cabins or RVs on our Properties either on a long-term or short-term basis. Our customers may lease individual developed areas ("Sites") or enter right-to-use contracts, which provide them access to specific Properties for limited stays. Our Properties are owned primarily by the Operating Partnership and managed internally by wholly-owned affiliates of the Operating Partnership. ELS is the sole general partner of the Operating Partnership, has exclusive responsibility and discretion in management and control of the Operating Partnership and held a 94.0% interest as of March 31, 2019. As the general partner with control, ELS is the primary beneficiary and therefore consolidates the Operating Partnership. Equity method of accounting is applied to entities in which ELS does not have a controlling interest or for variable interest entities in which ELS is not considered the primary beneficiary, but with respect to which it can exercise significant influence over operations and major decisions. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments. Accordingly, distributions from a joint venture in excess of our carrying value are recognized in earnings. Capitalized terms used but not defined herein are as defined in our Annual Report on Form 10-K for the year ended December 31, 2018 (“2018 Form 10-K”). The accompanying unaudited interim consolidated financial statements have been prepared pursuant to Securities and Exchange Commission (“SEC”) rules and regulations for Quarterly Reports on Form 10-Q. Accordingly, they do not include all of the information and note disclosures required by U.S. Generally Accepted Accounting Principles ("GAAP") for complete financial statements and should be read in conjunction with the consolidated financial statements and notes thereto included in the 2018 Form 10-K. Intercompany balances and transactions have been eliminated. All adjustments to the interim consolidated financial statements are of a normal, recurring nature and, in the opinion of management, are necessary for a fair presentation of results for these interim periods. Revenues and expenses are subject to seasonal fluctuations and accordingly, quarterly interim results may not be indicative of full year results. Certain prior period amounts have been reclassified on our interim consolidated financial statements to conform with current year presentation.

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a) Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ("ASU 2016-02") Leases. This new guidance, including the related subsequently issued ASUs, provides the principles for the recognition, measurement, presentation and disclosure of leases, including the requirement that lessees recognize right-of-use ("ROU") assets and lease liabilities for leases on the Consolidated Balance Sheets. We adopted the new lease standard effective January 1, 2019 and have elected to use January 1, 2019 as our date of initial application. Results for reporting periods beginning January 1, 2019 are presented under the new lease standard. We made an accounting policy election to not recognize ROU assets and lease liabilities for leases with a term of 12 months or less. We elected the package of practical expedients permitted under the transition guidance within the new standard and were not required to reassess the following upon adoption: (i) whether an expired or existing contract met the definition of a lease, (ii) the lease classification at January 1, 2019 for existing leases and (iii) whether leasing costs previously capitalized as initial direct costs would continue to be amortized. Upon adoption, we did not have an adjustment to the opening balance of retained earnings due to the election of these practical expedients. As a lessor, we adopted the practical expedient that allowed us not to separate expenses reimbursed by our customers (“utility recoveries”) from the associated rental revenue if certain criteria were met. We assessed these criteria and concluded the timing and pattern of transfer for rental revenue and the associated utility recoveries are the same and as our leases qualify as operating leases, we accounted for and presented rental revenue and utility recoveries as a single component under Rental income in our Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2019 and 2018. In addition, the new standard requires our expected credit loss related to the collectability of lease receivables to be reflected as an adjustment to the line item Rental income. For the three months ended March 31, 2018, the credit loss related to the collectability of lease receivables was recognized in the line item Property operating and maintenance and was not significant. The guidance regarding capitalization of leasing costs did not have any effect on our consolidated financial statements. On January 1, 2019, we recognized ROU assets of $17.5 million and lease liabilities of $18.7 million on the Consolidated Balance Sheets, principally for our ground and office space leases, in which we are the lessee. For more disclosure on the adoption of the new lease accounting standard, see Note 3. Leases. (b) New Accounting Pronouncements In August 2018, the FASB issued ("ASU 2018-15") Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. ASU 2018-15 provides clarity on the accounting for implementation costs of a cloud computing arrangement that is a service contract. The project stage (that is, preliminary project stage, application development stage, or post implementation stage) and the nature of the implementation costs determine which costs to capitalize as an asset related to the service contract and which ones to expense. This update also requires the capitalized implementation costs to be expensed over the term of the arrangement and to be presented in the same line item in the consolidated financial statements as the fees associated with the service of the arrangement. ASU 2018-15 is effective in fiscal years beginning after December 15, 2019, including interim periods within those years. Early adoption is permitted. This guidance can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently in the process of evaluating the potential impact, if any, that the adoption of this standard may have on the consolidated financial statements and related disclosures. In June 2018, the SEC issued a final rule, Inline XBRL Filing of Tagged Data, which will require the use of the Inline eXtensible Business Reporting Language (XBRL) format for the submission of operating company financial statement information. In addition, the final rule will eliminate the requirement for operating companies to post “Interactive Data Files” (i.e., machine-readable computer code that presents information in XBRL format) on their websites. Large accelerated filers that prepare their financial statements in accordance with GAAP will be subject to Inline XBRL requirements beginning with the fiscal period ending on or after June 15, 2019. We expect to use Inline XBRL starting with the Form 10-Q for the quarter ending June 30, 2019. In June 2016, the FASB issued (“ASU 2016-13”) Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326). ASU 2016-13 requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. ASU 2016-13 also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. ASU 2016-13 will be effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently in the process of evaluating the potential impact, if any, that adoption of this standard may have on the consolidated financial statements and related disclosures. (c) Revenue Recognition Right-to-use contracts (also referred to as memberships), provide our customers access to specific Properties for limited stays at a specified group of Properties. Payments are deferred and recognized on a straight-line basis over the one-year period in which access to Sites at certain Properties are provided. Right-to-use upgrade contracts grant certain additional access rights to the customer and require non-refundable upfront payments. The non-refundable upfront payments are recognized on a straight-line basis over 20 years. Income from home sales is recognized when the earnings process is complete. The earnings process is complete when the home has been delivered, the purchaser has accepted the home and title has transferred. (d) Restricted Cash As of March 31, 2019 and December 31, 2018, restricted cash consists of $27.4 million and $24.1 million, respectively, primarily related to cash reserved for customer deposits and amounts escrowed for insurance and real estate taxes.

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases, Lessor

Leases

Lessor

Rental income derived from customers renting our Sites is accounted for in accordance with Accounting Standard Codification (ASC) 842, Leases, and is recognized over the term of the respective operating lease or the length of a customer's stay. Our MH community Sites and annual RV community Sites are leased on an annual basis. Seasonal Sites are leased to customers generally for one to six months. Transient Sites are leased to customers on a short-term basis. In addition, customers may lease homes that are located in our Properties.

The leases entered into between the customer and us for the rental of a Site are renewable upon the consent of both parties or, in some instances, as provided by statute. Long-term leases that are non-cancelable by the tenants are in effect at certain Properties. Rental rate increases at these Properties are primarily a function of increases in the Consumer Price Index, taking into consideration certain conditions. Additionally, periodic market rate adjustments are made as deemed appropriate. In addition, certain state statutes allow entry into long-term agreements that effectively modify lease terms related to rent amounts and increases over the term of the agreements. The following table presents future minimum rents expected to be received under long-term non-cancelable tenant leases, as well as those leases that are subject to long-term agreements governing rent payments and increases:



(amounts in thousands)	As of March 31, 2019
2019	$	73,507
2020	97,380
2021	41,914
2022	20,021
2023	19,702
Thereafter	84,616
Total	$	337,140

Lessee

We lease land under non-cancelable operating leases at 13 Properties expiring at various dates through 2054. The majority of the leases have terms requiring fixed payments plus additional rents based on a percentage of gross revenues at those Properties. We also have other operating leases, primarily office space expiring at various dates through 2026. For the quarters ended March 31, 2019 and 2018, total operating lease payments were $2.3 million and $2.0 million, respectively.

The following table summarizes our minimum future rental payments, excluding variable costs, which are discounted by our incremental borrowing rate to calculate the lease liabilities for our operating leases:



(amounts in thousands)	As of March 31, 2019		As of December 31, 2018
2019	$	3,925	$	4,921
2020	4,801		4,801
2021	4,179		4,179
2022	2,103		2,103
2023	953		953
Thereafter	5,054		5,054
Total undiscounted rental payments	21,015		22,011
Less imputed interest	3,087		3,289
Total lease liabilities	$	17,928	$	18,722

ROU assets and lease liabilities from our operating leases included within Other assets, net and Accounts payable and other liabilities in the Consolidated Balance Sheets were $16.6 million and $17.9 million, respectively, as of March 31, 2019. The weighted average remaining lease term for our operating leases was 8 years and the weighted average incremental borrowing rate was 4.4% at March 31, 2019.

Leases, Lessee

Leases

Lessor



(amounts in thousands)	As of March 31, 2019
2019	$	73,507
2020	97,380
2021	41,914
2022	20,021
2023	19,702
Thereafter	84,616
Total	$	337,140

Lessee



(amounts in thousands)	As of March 31, 2019		As of December 31, 2018
2019	$	3,925	$	4,921
2020	4,801		4,801
2021	4,179		4,179
2022	2,103		2,103
2023	953		953
Thereafter	5,054		5,054
Total undiscounted rental payments	21,015		22,011
Less imputed interest	3,087		3,289
Total lease liabilities	$	17,928	$	18,722

Earnings Per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share for the quarters ended March 31, 2019 and 2018:



	Quarters Ended March 31,
(amounts in thousands, except per share data)	2019		2018
Numerator:
Net income available to Common Stockholders – Basic	113,309		60,222
Amounts allocated to dilutive securities	7,226		3,955
Net income available to Common Stockholders – Fully Diluted	$	120,535	$	64,177
Denominator:
Weighted average Common Shares outstanding – Basic	89,780		88,524
Effect of dilutive securities:
Exchange of Common OP Units for Common Shares	5,741		5,828
Restricted stock and stock options	103		225
Weighted average Common Shares outstanding – Fully Diluted	95,624		94,577

Earnings per Common Share – Basic	$	1.26	$	0.68

Earnings per Common Share – Fully Diluted	$	1.26	$	0.68

Common Stock and Other Equity Related Transactions

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Common Stock and Other Equity Related Transactions

Common Stockholder Distribution Activity

The following quarterly distributions have been declared and paid to common stockholders and the limited partners of the Operating Partnership (the "Common OP Unit holders") since January 1, 2018.



Distribution Amount Per Share	For the Quarter Ended	Stockholder Record Date	Payment Date
$0.5500	March 31, 2018	March 30, 2018	April 13, 2018
$0.5500	June 30, 2018	June 29, 2018	July 13, 2018
$0.5500	September 30, 2018	September 28, 2018	October 12, 2018
$0.5500	December 31, 2018	December 28, 2018	January 11, 2019
$0.6125	March 31, 2019	March 29, 2019	April 12, 2019

On October 26, 2018, we entered into our current at-the-market equity offering program with certain sales agents, pursuant to which we may sell, from time-to-time, shares of our Common Stock, par value $0.01 per share, having an aggregate offering price of up to $200.0 million. The full capacity remained available for issuance as of March 31, 2019.

Exchanges

Subject to certain limitations, Common OP Unit holders can request an exchange of any or all of their OP Units for shares of Common Stock at any time. Upon receipt of such a request, we may, in lieu of issuing shares of Common Stock, cause the Operating Partnership to pay cash. During the quarter ended March 31, 2019, 5,325 OP Units were exchanged for an equal number of shares of Common Stock. During the same period in 2018, 6,838 OP Units were exchanged for an equal number of shares of Common Stock.

Investment in Real Estate	3 Months Ended
Investment in Real Estate	Mar. 31, 2019
Business Combinations [Abstract]
Investment in Real Estate	Investment in Real Estate Acquisitions On March 25, 2019, we completed the acquisitions of Drummer Boy Camping Resort, a 465-site RV community located in Gettysburg, Pennsylvania, and Lake of the Woods Campground, a 303-site RV community located in Wautoma, Wisconsin, for a total purchase price of $25.4 million. These acquisitions were funded with available cash and a loan assumption of approximately $10.8 million, excluding mortgage premium of $0.4 million. Dispositions On January 23, 2019, we closed on the sale of five all-age MH communities located in Indiana and Michigan, collectively containing 1,463 sites, for $89.7 million. The assets and liabilities associated with the transaction were classifieds as held for sale on the Consolidated Balance Sheets as of December 31, 2018. We recognized a gain on sale of these Properties of $52.5 million during the first quarter of 2019.

Investment in Unconsolidated Joint Ventures

3 Months Ended

Mar. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

The following table summarizes our investment in unconsolidated joint ventures (investment amounts in thousands with the number of Properties shown parenthetically as of March 31, 2019 and December 31, 2018, respectively):



					Investment as of				Income/(Loss) for Quarters Ended
Investment	Location	Number of Sites ^(a)	Economic Interest ^(b)		March 31, 2019		December 31, 2018		March 31, 2019		March 31, 2018
Meadows	Various (2,2)	1,077	50%		$	443	$	346	$	397	$	418
Lakeshore	Florida (3,3)	720	(c)		2,217		2,263		69		45
Voyager	Arizona (1,1)	1,801	50%	^(d)	3,651		3,135		604		571
Loggerhead	Florida	2,343	49%		35,789		35,789		321		—
ECHO JV	Various	—	50%		16,365		16,222		142		161
		5,941			$	58,465	$	57,755	$	1,533	$	1,195

_____________________


(a)	Loggerhead sites represent marina slip count.


(b)	The percentages shown approximate our economic interest as of March 31, 2019. Our legal ownership interest may differ.


(c)	Includes two joint ventures in which we own a 65% interest and Crosswinds joint venture in which we own a 49% interest.


(d)	Voyager joint venture primarily consists of a 50% interest in Voyager RV Resort and 33% interest in the utility plant servicing the Property.

We received approximately $0.7 million and $0.5 million in distributions from these joint ventures for the quarters ended March 31, 2019 and 2018, respectively. None of the distributions made to us exceeded our basis in joint ventures for the quarters ended March 31, 2019 and 2018.

Borrowing Arrangements

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Borrowing Arrangements

Mortgage Notes Payable

During the quarter ended March 31, 2019, we defeased mortgage debt of $11.2 million in conjunction with the disposition of the five MH Properties as disclosed in Note 6. Investment in Real Estate. These loans had a weighted average interest rate of 5.03% per annum. We also assumed mortgage debt of $10.8 million, excluding mortgage note premium of $0.4 million, as a result of acquisitions that closed during the quarter ended March 31, 2019. The loan carries an interest rate of 5.49% per annum and matures in 2024.

Our mortgage notes payable is classified as Level 2 in the fair value hierarchy as of March 31, 2019 and December 31, 2018. The following table presents the fair value of our mortgage notes payable:



	As of March 31, 2019				As of December 31, 2018
(amounts in thousands)	Fair Value		Carrying Value		Fair Value		Carrying Value
Mortgage notes payable, excluding deferred financing costs	$	2,236,125	$	2,172,139	$	2,164,563	$	2,174,715

The weighted average interest rate on our outstanding mortgage indebtedness, including the impact of premium/discount amortization and loan cost amortization on mortgage indebtedness, for the quarter ended March 31, 2019 was approximately 4.5% per annum. The debt bears interest at stated rates ranging from 3.5% to 8.9% per annum and matures on various dates ranging from 2020 to 2041. The debt encumbered a total of 119 and 118 of our Properties as of March 31, 2019 and December 31, 2018, respectively, and the carrying value of such Properties was approximately $2,522.2 million and $2,489.8 million, as of March 31, 2019 and December 31, 2018, respectively.

Unsecured Line of Credit

During the quarter ended March 31, 2019, we did not borrow or pay off amounts on our unsecured Line of Credit ("LOC"). The full capacity on our LOC remained available.

As of March 31, 2019, we were in compliance in all material respects with the covenants in our borrowing arrangements.

Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Cash Flow Hedges of Interest Rate Risk

Our objective in utilizing interest rate derivatives is to add stability to our interest expense and to manage our exposure to interest rate movements. We do not enter into derivatives for speculative purposes. In connection with our $200.0 million senior unsecured term loan (the “Term Loan”), which has an interest rate of LIBOR plus 1.20% to 1.90% per annum, we entered into a three-year LIBOR Swap Agreement (the "Swap") allowing us to trade the variable interest rate on the Term Loan for a fixed interest rate. The Swap has a notional amount of $200.0 million of outstanding principal with an underlying LIBOR of 1.85% per annum and matures on November 1, 2020. Based on the leverage as of March 31, 2019 and December 31, 2018, our spread over LIBOR was 1.20% resulting in an estimated all-in interest rate of 3.05% per annum.

Our derivative financial instrument is classified as Level 2 in the fair value hierarchy as of March 31, 2019 and December 31, 2018. The following table presents the fair value of our derivative financial instrument:



		As of March 31,		As of December 31,
(amounts in thousands)	Balance Sheet Location	2019		2018
Interest Rate Swap	Other assets, net	$	1,368	$	2,299

The following table presents the effect of our derivative financial instrument on the Consolidated Statements of Income and Comprehensive Income:



Derivatives in Cash Flow Hedging Relationship	Amount of (gain)/loss recognized in OCI on derivative for the quarter ended March 31,					Location of (gain)/ loss reclassified from accumulated OCI into income	Amount of (gain)/loss reclassified from accumulated OCI into income for the quarter ended March 31,
(amounts in thousands)	2019		2018			(amounts in thousands)	2019			2018
Interest Rate Swap	$	606	$	(1,746	)	Interest Expense	$	(325	)	$	127

During the next twelve months through March 31, 2020, we estimate that an additional $1.1 million will be reclassified as an increase to interest expense. This estimate may be subject to change as the underlying LIBOR changes. We determined that no adjustment was necessary for non-performance risk on our derivative obligation. As of March 31, 2019, we did not post any collateral related to this agreement.

Equity Incentive Awards	3 Months Ended
Equity Incentive Awards	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Awards	Equity Incentive Awards Our 2014 Equity Incentive Plan (the “2014 Plan”) was adopted by our Board of Directors on March 11, 2014 and approved by our stockholders on May 13, 2014. During the quarter ended March 31, 2019, 61,200 shares of restricted stock were awarded to certain members of our management team. Of these shares, 50% are time-based awards, vesting in equal installments over a three-year period on January 31, 2020, January 29, 2021, and January 31, 2022, respectively, and have a grant date fair value of $3.2 million. The remaining 50% are performance-based awards, and are valued using the closing price at the grant date when all the key terms and conditions are known to all parties. The 10,201 shares of restricted stock awarded in 2019 subject to 2019 performance goals have a grant date fair value of $1.1 million. Additionally, 11,711 shares of restricted stock awarded in 2018 subject to 2019 performance goals have a grant date fair value of $1.3 million. Compensation expense related to restricted stock and stock options, reported in General and administrative on the Consolidated Statements of Income and Comprehensive Income, for the quarters ended March 31, 2019 and 2018 was approximately $2.4 million and $1.8 million, respectively.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are involved in various legal and regulatory proceedings ("Proceedings") arising in the ordinary course of business. The Proceedings include, but are not limited to, legal claims made by employees, vendors and customers, and notices, consent decrees, information requests, and additional permit requirements and other similar enforcement actions by governmental agencies relating to our utility infrastructure, including water and wastewater treatment plants and other waste treatment facilities and electrical systems. Additionally, in the ordinary course of business, our operations are subject to audit by various taxing authorities. Management believes these Proceedings taken together do not represent a material liability. In addition, to the extent any such proceedings or audits relate to newly acquired Properties, we consider any potential indemnification obligations of sellers in our favor.

Reportable Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Reportable Segments

We have identified two reportable segments which are: (i) Property Operations and (ii) Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease Properties and the Home Sales and Rentals Operations segment purchases, sells and leases homes at the Properties. The distribution of the Properties throughout the United States reflects our belief that geographic diversification helps insulate the portfolio from regional economic influences.

All revenues were from external customers and there was no customer who contributed 10% or more of our total revenues during the quarters ended March 31, 2019 or 2018.

The following tables summarize our segment financial information for the quarters ended March 31, 2019 and 2018:

Quarter Ended March 31, 2019



(amounts in thousands)	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	246,016		$	10,337		$	256,353
Operations expenses	(108,970		)	(8,919		)	$	(117,889	)
Income from segment operations	137,046			1,418			$	138,464
Interest income	894			850			$	1,744
Depreciation and amortization	(35,543		)	(2,434		)	$	(37,977	)
Gain on sale of real estate, net	52,507			—			$	52,507
Income (loss) from operations	$	154,904		$	(166	)	$	154,738
Reconciliation to consolidated net income:
Corporate interest income							7
Income from other investments, net							986
General and administrative							(9,909		)
Other expenses							(427		)
Interest and related amortization							(26,393		)
Equity in income of unconsolidated joint ventures							1,533
Consolidated net income							$	120,535

Total assets	$	3,771,453		$	237,424		$	4,008,877
Capital improvements	$	24,406		$	28,035		$	52,441

Quarter Ended March 31, 2018



(amounts in thousands)	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	231,016		$	12,119		$	243,135
Operations expenses	(105,512		)	(11,073		)	(116,585		)
Income from segment operations	125,504			1,046			126,550
Interest income	808			907			1,715
Depreciation and amortization	(29,874		)	(2,500		)	(32,374		)
Income (loss) from operations	$	96,438		$	(547	)	$	95,891
Reconciliation to consolidated net income:
Corporate interest income							235
Income from other investments, net							940
General and administrative							(8,038		)
Other expenses							(343		)
Interest and related amortization							(25,703		)
Equity in income of unconsolidated joint ventures							1,195
Consolidated net income							$	64,177

Total assets	$	3,547,466		$	142,617		$	3,690,083
Capital improvements	$	21,267		$	10,049		$	31,316

The following table summarizes our financial information for the Property Operations segment for the quarters ended March 31, 2019 and 2018:



	Quarters Ended March 31,
(amounts in thousands)	2019			2018
Revenues:
Rental income	$	219,982		$	203,478
Right-to-use annual payments	12,316			11,519
Right-to-use contracts current period, gross	3,838			3,162
Right-to-use contract upfront payments, deferred, net	(1,771		)	(1,285		)
Other income	10,370			13,036
Ancillary services revenues, net	1,281			1,106
Total property operations revenues	246,016			231,016
Expenses:
Property operating and maintenance	76,744			74,908
Real estate taxes	15,323			14,135
Sales and marketing, gross	3,409			2,812
Right-to-use contract commissions, deferred, net	(191		)	(24		)
Property management	13,685			13,681
Total property operations expenses	108,970			105,512
Income from property operations segment	$	137,046		$	125,504

The following table summarizes our financial information for the Home Sales and Rentals Operations segment for the quarters ended March 31, 2019 and 2018:



	Quarters Ended March 31,
(amounts in thousands)	2019		2018
Revenues:
Rental income ^(a)	$	3,584	$	3,515
Gross revenue from home sales	6,475		8,309
Brokered resale revenues, net	278		282
Ancillary services revenues, net	—		13
Total revenues	10,337		12,119
Expenses:
Property operating and maintenance	1,204		1,424
Cost of home sales	6,632		8,574
Home selling expenses	1,083		1,075
Total expenses	8,919		11,073
Income from home sales and rentals operations segment	$	1,418	$	1,046

______________________


(a)	Segment information includes income related to rental homes. Income related to Site rent on rental homes is included within property operations.

Subsequent Event	3 Months Ended
Subsequent Event	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On April 10, 2019, we completed the acquisition of Round Top RV Campground, a 391-site RV community located in Gettysburg, Pennsylvania. The purchase price was approximately $12.4 million. This acquisition was funded with available cash and a loan assumption of approximately $7.8 million, excluding mortgage premium of $0.2 million.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Equity LifeStyle Properties, Inc. ("ELS"), a Maryland corporation, together with MHC Operating Limited Partnership (the “Operating Partnership”) and its other consolidated subsidiaries (the “Subsidiaries”) are referred to herein as “we,” “us,” "the Company," and “our.” We are a fully integrated owner and operator of lifestyle-oriented properties ("Properties") consisting primarily of manufactured home ("MH") and recreational vehicle ("RV") communities. We provide our customers the opportunity to place factory-built homes, cottages, cabins or RVs on our Properties either on a long-term or short-term basis. Our customers may lease individual developed areas ("Sites") or enter right-to-use contracts, which provide them access to specific Properties for limited stays. Our Properties are owned primarily by the Operating Partnership and managed internally by wholly-owned affiliates of the Operating Partnership. ELS is the sole general partner of the Operating Partnership, has exclusive responsibility and discretion in management and control of the Operating Partnership and held a 94.0% interest as of March 31, 2019. As the general partner with control, ELS is the primary beneficiary and therefore consolidates the Operating Partnership. Equity method of accounting is applied to entities in which ELS does not have a controlling interest or for variable interest entities in which ELS is not considered the primary beneficiary, but with respect to which it can exercise significant influence over operations and major decisions. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments. Accordingly, distributions from a joint venture in excess of our carrying value are recognized in earnings.
Consolidation	Equity method of accounting is applied to entities in which ELS does not have a controlling interest or for variable interest entities in which ELS is not considered the primary beneficiary, but with respect to which it can exercise significant influence over operations and major decisions. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments. Accordingly, distributions from a joint venture in excess of our carrying value are recognized in earnings.
New Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ("ASU 2016-02") Leases. This new guidance, including the related subsequently issued ASUs, provides the principles for the recognition, measurement, presentation and disclosure of leases, including the requirement that lessees recognize right-of-use ("ROU") assets and lease liabilities for leases on the Consolidated Balance Sheets. We adopted the new lease standard effective January 1, 2019 and have elected to use January 1, 2019 as our date of initial application. Results for reporting periods beginning January 1, 2019 are presented under the new lease standard. We made an accounting policy election to not recognize ROU assets and lease liabilities for leases with a term of 12 months or less. We elected the package of practical expedients permitted under the transition guidance within the new standard and were not required to reassess the following upon adoption: (i) whether an expired or existing contract met the definition of a lease, (ii) the lease classification at January 1, 2019 for existing leases and (iii) whether leasing costs previously capitalized as initial direct costs would continue to be amortized. Upon adoption, we did not have an adjustment to the opening balance of retained earnings due to the election of these practical expedients. As a lessor, we adopted the practical expedient that allowed us not to separate expenses reimbursed by our customers (“utility recoveries”) from the associated rental revenue if certain criteria were met. We assessed these criteria and concluded the timing and pattern of transfer for rental revenue and the associated utility recoveries are the same and as our leases qualify as operating leases, we accounted for and presented rental revenue and utility recoveries as a single component under Rental income in our Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2019 and 2018. In addition, the new standard requires our expected credit loss related to the collectability of lease receivables to be reflected as an adjustment to the line item Rental income. For the three months ended March 31, 2018, the credit loss related to the collectability of lease receivables was recognized in the line item Property operating and maintenance and was not significant. The guidance regarding capitalization of leasing costs did not have any effect on our consolidated financial statements. On January 1, 2019, we recognized ROU assets of $17.5 million and lease liabilities of $18.7 million on the Consolidated Balance Sheets, principally for our ground and office space leases, in which we are the lessee. For more disclosure on the adoption of the new lease accounting standard, see Note 3. Leases. (b) New Accounting Pronouncements In August 2018, the FASB issued ("ASU 2018-15") Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. ASU 2018-15 provides clarity on the accounting for implementation costs of a cloud computing arrangement that is a service contract. The project stage (that is, preliminary project stage, application development stage, or post implementation stage) and the nature of the implementation costs determine which costs to capitalize as an asset related to the service contract and which ones to expense. This update also requires the capitalized implementation costs to be expensed over the term of the arrangement and to be presented in the same line item in the consolidated financial statements as the fees associated with the service of the arrangement. ASU 2018-15 is effective in fiscal years beginning after December 15, 2019, including interim periods within those years. Early adoption is permitted. This guidance can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently in the process of evaluating the potential impact, if any, that the adoption of this standard may have on the consolidated financial statements and related disclosures. In June 2018, the SEC issued a final rule, Inline XBRL Filing of Tagged Data, which will require the use of the Inline eXtensible Business Reporting Language (XBRL) format for the submission of operating company financial statement information. In addition, the final rule will eliminate the requirement for operating companies to post “Interactive Data Files” (i.e., machine-readable computer code that presents information in XBRL format) on their websites. Large accelerated filers that prepare their financial statements in accordance with GAAP will be subject to Inline XBRL requirements beginning with the fiscal period ending on or after June 15, 2019. We expect to use Inline XBRL starting with the Form 10-Q for the quarter ending June 30, 2019. In June 2016, the FASB issued (“ASU 2016-13”) Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326). ASU 2016-13 requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. ASU 2016-13 also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. ASU 2016-13 will be effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently in the process of evaluating the potential impact, if any, that adoption of this standard may have on the consolidated financial statements and related disclosures.
Revenue Recognition	Revenue Recognition Right-to-use contracts (also referred to as memberships), provide our customers access to specific Properties for limited stays at a specified group of Properties. Payments are deferred and recognized on a straight-line basis over the one-year period in which access to Sites at certain Properties are provided. Right-to-use upgrade contracts grant certain additional access rights to the customer and require non-refundable upfront payments. The non-refundable upfront payments are recognized on a straight-line basis over 20 years. Income from home sales is recognized when the earnings process is complete. The earnings process is complete when the home has been delivered, the purchaser has accepted the home and title has transferred.

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lessor Operating Lease, Payments to be Received

The following table presents future minimum rents expected to be received under long-term non-cancelable tenant leases, as well as those leases that are subject to long-term agreements governing rent payments and increases:



(amounts in thousands)	As of March 31, 2019
2019	$	73,507
2020	97,380
2021	41,914
2022	20,021
2023	19,702
Thereafter	84,616
Total	$	337,140

Minimum Future Operating Lease Payments



(amounts in thousands)	As of March 31, 2019		As of December 31, 2018
2019	$	3,925	$	4,921
2020	4,801		4,801
2021	4,179		4,179
2022	2,103		2,103
2023	953		953
Thereafter	5,054		5,054
Total undiscounted rental payments	21,015		22,011
Less imputed interest	3,087		3,289
Total lease liabilities	$	17,928	$	18,722

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per common share for the quarters ended March 31, 2019 and 2018:



	Quarters Ended March 31,
(amounts in thousands, except per share data)	2019		2018
Numerator:
Net income available to Common Stockholders – Basic	113,309		60,222
Amounts allocated to dilutive securities	7,226		3,955
Net income available to Common Stockholders – Fully Diluted	$	120,535	$	64,177
Denominator:
Weighted average Common Shares outstanding – Basic	89,780		88,524
Effect of dilutive securities:
Exchange of Common OP Units for Common Shares	5,741		5,828
Restricted stock and stock options	103		225
Weighted average Common Shares outstanding – Fully Diluted	95,624		94,577

Earnings per Common Share – Basic	$	1.26	$	0.68

Earnings per Common Share – Fully Diluted	$	1.26	$	0.68

Common Stock and Other Equity Related Transactions (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Dividends declared

The following quarterly distributions have been declared and paid to common stockholders and the limited partners of the Operating Partnership (the "Common OP Unit holders") since January 1, 2018.



Distribution Amount Per Share	For the Quarter Ended	Stockholder Record Date	Payment Date
$0.5500	March 31, 2018	March 30, 2018	April 13, 2018
$0.5500	June 30, 2018	June 29, 2018	July 13, 2018
$0.5500	September 30, 2018	September 28, 2018	October 12, 2018
$0.5500	December 31, 2018	December 28, 2018	January 11, 2019
$0.6125	March 31, 2019	March 29, 2019	April 12, 2019

Investment in Unconsolidated Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Schedule of our investment in unconsolidated joint ventures



					Investment as of				Income/(Loss) for Quarters Ended
Investment	Location	Number of Sites ^(a)	Economic Interest ^(b)		March 31, 2019		December 31, 2018		March 31, 2019		March 31, 2018
Meadows	Various (2,2)	1,077	50%		$	443	$	346	$	397	$	418
Lakeshore	Florida (3,3)	720	(c)		2,217		2,263		69		45
Voyager	Arizona (1,1)	1,801	50%	^(d)	3,651		3,135		604		571
Loggerhead	Florida	2,343	49%		35,789		35,789		321		—
ECHO JV	Various	—	50%		16,365		16,222		142		161
		5,941			$	58,465	$	57,755	$	1,533	$	1,195

_____________________


(a)	Loggerhead sites represent marina slip count.


(b)	The percentages shown approximate our economic interest as of March 31, 2019. Our legal ownership interest may differ.


(c)	Includes two joint ventures in which we own a 65% interest and Crosswinds joint venture in which we own a 49% interest.


(d)	Voyager joint venture primarily consists of a 50% interest in Voyager RV Resort and 33% interest in the utility plant servicing the Property.

Borrowing Arrangements (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Fair Value of Mortgage Debt

Our mortgage notes payable is classified as Level 2 in the fair value hierarchy as of March 31, 2019 and December 31, 2018. The following table presents the fair value of our mortgage notes payable:



	As of March 31, 2019				As of December 31, 2018
(amounts in thousands)	Fair Value		Carrying Value		Fair Value		Carrying Value
Mortgage notes payable, excluding deferred financing costs	$	2,236,125	$	2,172,139	$	2,164,563	$	2,174,715

- 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

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+ Details

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments

The following table presents the fair value of our derivative financial instrument:



		As of March 31,		As of December 31,
(amounts in thousands)	Balance Sheet Location	2019		2018
Interest Rate Swap	Other assets, net	$	1,368	$	2,299

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following table presents the effect of our derivative financial instrument on the Consolidated Statements of Income and Comprehensive Income:



Derivatives in Cash Flow Hedging Relationship	Amount of (gain)/loss recognized in OCI on derivative for the quarter ended March 31,					Location of (gain)/ loss reclassified from accumulated OCI into income	Amount of (gain)/loss reclassified from accumulated OCI into income for the quarter ended March 31,
(amounts in thousands)	2019		2018			(amounts in thousands)	2019			2018
Interest Rate Swap	$	606	$	(1,746	)	Interest Expense	$	(325	)	$	127

Derivative Instruments, Gain (Loss)

The following table presents the effect of our derivative financial instrument on the Consolidated Statements of Income and Comprehensive Income:



Derivatives in Cash Flow Hedging Relationship	Amount of (gain)/loss recognized in OCI on derivative for the quarter ended March 31,					Location of (gain)/ loss reclassified from accumulated OCI into income	Amount of (gain)/loss reclassified from accumulated OCI into income for the quarter ended March 31,
(amounts in thousands)	2019		2018			(amounts in thousands)	2019			2018
Interest Rate Swap	$	606	$	(1,746	)	Interest Expense	$	(325	)	$	127

Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of segment financial information

The following tables summarize our segment financial information for the quarters ended March 31, 2019 and 2018:

Quarter Ended March 31, 2019



(amounts in thousands)	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	246,016		$	10,337		$	256,353
Operations expenses	(108,970		)	(8,919		)	$	(117,889	)
Income from segment operations	137,046			1,418			$	138,464
Interest income	894			850			$	1,744
Depreciation and amortization	(35,543		)	(2,434		)	$	(37,977	)
Gain on sale of real estate, net	52,507			—			$	52,507
Income (loss) from operations	$	154,904		$	(166	)	$	154,738
Reconciliation to consolidated net income:
Corporate interest income							7
Income from other investments, net							986
General and administrative							(9,909		)
Other expenses							(427		)
Interest and related amortization							(26,393		)
Equity in income of unconsolidated joint ventures							1,533
Consolidated net income							$	120,535

Total assets	$	3,771,453		$	237,424		$	4,008,877
Capital improvements	$	24,406		$	28,035		$	52,441

Quarter Ended March 31, 2018



(amounts in thousands)	Property Operations			Home Sales and Rentals Operations			Consolidated
Operations revenues	$	231,016		$	12,119		$	243,135
Operations expenses	(105,512		)	(11,073		)	(116,585		)
Income from segment operations	125,504			1,046			126,550
Interest income	808			907			1,715
Depreciation and amortization	(29,874		)	(2,500		)	(32,374		)
Income (loss) from operations	$	96,438		$	(547	)	$	95,891
Reconciliation to consolidated net income:
Corporate interest income							235
Income from other investments, net							940
General and administrative							(8,038		)
Other expenses							(343		)
Interest and related amortization							(25,703		)
Equity in income of unconsolidated joint ventures							1,195
Consolidated net income							$	64,177

Total assets	$	3,547,466		$	142,617		$	3,690,083
Capital improvements	$	21,267		$	10,049		$	31,316

Financial information for the property operations segment

The following table summarizes our financial information for the Property Operations segment for the quarters ended March 31, 2019 and 2018:



	Quarters Ended March 31,
(amounts in thousands)	2019			2018
Revenues:
Rental income	$	219,982		$	203,478
Right-to-use annual payments	12,316			11,519
Right-to-use contracts current period, gross	3,838			3,162
Right-to-use contract upfront payments, deferred, net	(1,771		)	(1,285		)
Other income	10,370			13,036
Ancillary services revenues, net	1,281			1,106
Total property operations revenues	246,016			231,016
Expenses:
Property operating and maintenance	76,744			74,908
Real estate taxes	15,323			14,135
Sales and marketing, gross	3,409			2,812
Right-to-use contract commissions, deferred, net	(191		)	(24		)
Property management	13,685			13,681
Total property operations expenses	108,970			105,512
Income from property operations segment	$	137,046		$	125,504

The following table summarizes our financial information for the Home Sales and Rentals Operations segment for the quarters ended March 31, 2019 and 2018:



	Quarters Ended March 31,
(amounts in thousands)	2019		2018
Revenues:
Rental income ^(a)	$	3,584	$	3,515
Gross revenue from home sales	6,475		8,309
Brokered resale revenues, net	278		282
Ancillary services revenues, net	—		13
Total revenues	10,337		12,119
Expenses:
Property operating and maintenance	1,204		1,424
Cost of home sales	6,632		8,574
Home selling expenses	1,083		1,075
Total expenses	8,919		11,073
Income from home sales and rentals operations segment	$	1,418	$	1,046

______________________


(a)	Segment information includes income related to rental homes. Income related to Site rent on rental homes is included within property operations.

Organization and Basis of Presentation (Details)	Mar. 31, 2019
Operating Partnership
Other Ownership Interests
Ownership interest (percent)	94.00%

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle
Right of use asset	$ 16,600
Operating lease liability	17,928
Cash and cash equivalents, restricted cash	$ 27,400		$ 24,100
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle
Right of use asset		$ 17,500
Operating lease liability		$ 18,700

Leases - Additional Information (Details) $ in Thousands	3 Months Ended
Leases - Additional Information (Details) $ in Thousands	Mar. 31, 2019 USD ($) lease	Mar. 31, 2018 USD ($)
Lease Description
Number of non-cancelable operating leases, lessee (leases) \| lease	13
Operating lease payments	$ 2,300	$ 2,000
Right of use asset	16,600
Operating lease liability	$ 17,928
Weighted average operating lease term	8 years
Operating lease weighted average interest rate (percent)	4.40%
Minimum
Lease Description
Lessor operating lease term	1 month
Maximum
Lease Description
Lessor operating lease term	6 months
Ground Lease \| Maximum
Lease Description
Lease expiration year	2054
Office Lease
Lease Description
Lease expiration year	2026

Leases - Operating Lease Future Proceeds (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity
2019	$ 73,507
2020	97,380
2021	41,914
2022	20,021
2023	19,702
Thereafter	84,616
Total	$ 337,140

Leases - Operating Lease Minimum Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Operating Lease Liabilities, Payments Due
2019	$ 3,925
2020	4,801
2021	4,179
2022	2,103
2023	953
Thereafter	5,054
Total undiscounted rental payments	21,015
Less imputed interest	3,087
Total lease liabilities	$ 17,928
Operating Leases Liabilities, Before Adoption
2019		$ 4,921
2020		4,801
2021		4,179
2022		2,103
2023		953
Thereafter		5,054
Total undiscounted rental payments		22,011
Less imputed interest		3,289
Total lease liabilities		$ 18,722

Earnings Per Common Share - Calculation of numerator and denominator in eps table (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income available for Common Stockholders	$ 113,309	$ 60,222
Amounts allocated to dilutive securities	7,226	3,955
Net income available to Common Stockholders – Fully Diluted	$ 120,535	$ 64,177
Denominator:
Weighted average Common Shares outstanding – basic (shares)	89,780	88,524
Effect of dilutive securities:
Exchange of Common OP Units for Common Shares (shares)	5,741	5,828
Restricted stock and options (shares)	103	225
Weighted average Common Shares outstanding – Fully Diluted (shares)	95,624	94,577
Earnings per Common Share – Basic (usd per share)	$ 1.26	$ 0.68
Earnings per Common Share – Fully Diluted (usd per share)	$ 1.26	$ 0.68

Common Stock and Other Equity Related Transactions - Common Stockholders Distribution Activity (Details) - $ / shares	Apr. 12, 2019	Jan. 11, 2019	Oct. 12, 2018	Jul. 13, 2018	Apr. 13, 2018
Class of Stock [Line Items]
Common stock, dividends paid (usd per share)		$ 0.5500	$ 0.5500	$ 0.5500	$ 0.550
Subsequent Event
Class of Stock [Line Items]
Common stock, dividends paid (usd per share)	$ 0.6125

Common Stock and Other Equity Related Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Class of Stock [Line Items]
Common stock, par value (usd per share)	$ 0.01		$ 0.01
OP units were exchanged for an equal number of shares of common stock (OP Units)	5,325	6,838
Private Placement
Class of Stock [Line Items]
Common stock, par value (usd per share)	$ 0.01
Aggregate offering price	$ 200.0

Investment in Real Estate (Details) $ in Millions			3 Months Ended
Investment in Real Estate (Details) $ in Millions	Mar. 25, 2019 USD ($) site	Jan. 23, 2019 USD ($) property site	Mar. 31, 2019 USD ($) property
Disposed of by Sale \| Manufactured Homes in Indiana and Michigan
Business Acquisition
Number of properties sold \| property		5	5
Number of sites sold (sites) \| site		1,463
Proceeds from sales of properties		$ 89.7
Gin on sales of properties			$ 52.5
Drummer Boy
Business Acquisition
Purchase price	$ 25.4
Liabilities incurred	10.8
Mortgage premium transferred	$ 0.4
Drummer Boy \| Gettysburg, Pennsylvania and Lake of the Woods Campground
Business Acquisition
Number of acquired sites (sites) \| site	465
Drummer Boy \| Wautoma, Wisconsin
Business Acquisition
Number of acquired sites (sites) \| site	303

Investment in Unconsolidated Joint Ventures - Schedule of Investments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2019 joint_venture_site	Mar. 31, 2019	Mar. 31, 2019 site	Dec. 31, 2018 USD ($)
Schedule of Equity Method Investments
Number of sites			2		5,941
Economic interest (in percentage)				65.00%
Investment in unconsolidated joint ventures	$ 58,465					$ 57,755
Equity in income of unconsolidated joint ventures	1,533	$ 1,195
Meadows \| Various
Schedule of Equity Method Investments
Number of sites \| site					1,077
Economic interest (in percentage)				50.00%
Investment in unconsolidated joint ventures	443					346
Equity in income of unconsolidated joint ventures	397	418
Lakeshore \| Florida
Schedule of Equity Method Investments
Number of sites \| site					720
Investment in unconsolidated joint ventures	2,217					2,263
Equity in income of unconsolidated joint ventures	69	45
Voyager \| Arizona
Schedule of Equity Method Investments
Number of sites \| site					1,801
Economic interest (in percentage)				50.00%
Investment in unconsolidated joint ventures	3,651					3,135
Equity in income of unconsolidated joint ventures	604	571
Loggerhead \| Florida
Schedule of Equity Method Investments
Number of sites \| site					2,343
Economic interest (in percentage)				49.00%
Investment in unconsolidated joint ventures	35,789					35,789
Equity in income of unconsolidated joint ventures	321	0
ECHO JV \| Various
Schedule of Equity Method Investments
Number of sites \| site					0
Economic interest (in percentage)				50.00%
Investment in unconsolidated joint ventures	16,365					$ 16,222
Equity in income of unconsolidated joint ventures	$ 142	$ 161

Investment in Unconsolidated Joint Ventures - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019 USD ($) joint_venture_site	Mar. 31, 2018 USD ($)	Mar. 31, 2019	Mar. 31, 2019 site
Schedule of Equity Method Investments
Number of sites	2			5,941
Economic interest (in percentage)			65.00%
Income from distribution made to us	$ 700,000	$ 500,000
Distributions, including those in excess of basis	$ 0	$ 0
Crosswinds
Schedule of Equity Method Investments
Economic interest (in percentage)			49.00%
Recreational Vehicle Resort \| Voyager
Schedule of Equity Method Investments
Economic interest (in percentage)			50.00%
Servicing Assets \| Voyager
Schedule of Equity Method Investments
Economic interest (in percentage)			33.00%

Borrowing Arrangements - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) Property property	Jan. 23, 2019 property	Dec. 31, 2018 USD ($) Property	Mar. 31, 2018
Debt Instrument
Number of pledged properties \| Property	119		118
Pledged assets, not separately reported	$ 2,522.2		$ 2,489.8
Secured Debt
Debt Instrument
Weighted average interest rate (percentage)	4.50%
Secured Debt \| Minimum
Debt Instrument
Stated interest rate (in percentage)	3.45%
Secured Debt \| Maximum
Debt Instrument
Stated interest rate (in percentage)	8.87%
Drummer Boy
Debt Instrument
Stated interest rate (in percentage)				5.49%
Disposed of by Sale
Debt Instrument
Defeasance of debt	$ 11.2
Weighted average interest rate (percentage)	5.03%
Disposed of by Sale \| Manufactured Homes in Indiana and Michigan
Debt Instrument
Number of properties sold \| property	5	5

Borrowing Arrangements - Fair Value of Mortgage Debt (Details) - Level 2 - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value
Debt Instrument
Mortgage notes payable, excluding deferred financing costs	$ 2,236,125	$ 2,164,563
Carrying Value
Debt Instrument
Mortgage notes payable, excluding deferred financing costs	$ 2,172,139	$ 2,174,715

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2019
Interest Expense
Derivative Instruments and Hedging Activities Disclosures
Amount expected to be transferred in the next 12 months		$ 1.1
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures
Notional amount		$ 200.0
Derivative instrument, underlying rate (percentage)		1.85%
Derivative instrument, effective rate (percentage)		3.05%
LIBOR \| Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures
Derivative instrument, variable rate (percentage)		1.20%
Term Loan
Derivative Instruments and Hedging Activities Disclosures
Debt instrument face amount		$ 200.0
Loans Payable
Derivative Instruments and Hedging Activities Disclosures
Derivative, maturity years	3 years
Loans Payable \| LIBOR \| Minimum
Derivative Instruments and Hedging Activities Disclosures
Debt instrument, variable rate on spread	1.20%
Loans Payable \| LIBOR \| Maximum
Derivative Instruments and Hedging Activities Disclosures
Debt instrument, variable rate on spread	1.90%

Derivative Instruments and Hedging Activities - Fair Value of Derivative Financial Instrument (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Designated as Hedging Instrument \| Interest Rate Swap \| Other assets, net
Derivatives, Fair Value
Derivative asset	$ 1,368	$ 2,299

Derivative Instruments and Hedging Activities - Effects of Derivative Instruments on Statement of Comprehensive Income and Income Statement (Details) - Interest Rate Swap - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosures
Amount of (gain)/loss recognized in OCI on derivative	$ 606	$ (1,746)
Interest Expense
Derivative Instruments and Hedging Activities Disclosures
Amount of (gain)/loss reclassified from accumulated OCI into income	$ (325)	$ 127

Equity Incentive Awards - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 2.4	$ 1.8
Restricted Stock \| Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Restricted Stock \| Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Restricted Stock \| Share-based Compensation Award, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.33%
Restricted Stock \| 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (shares)	61,200		11,711
Shares categorized as vesting (percent)	50.00%
Vesting period	3 years
Fair value of shares issued	$ 3.2		$ 1.3
Shares categorized as performance based (percent)	50.00%
Performance Shares \| 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (shares)	10,201
Fair value of shares issued	$ 1.1

Reportable Segments - Additional Information (Detail)	3 Months Ended
Reportable Segments - Additional Information (Detail)	Mar. 31, 2019 integer
Segment Reporting [Abstract]
Number of reportable segments	2

Reportable Segments - Consolidated Net Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Depreciation and amortization	$ (37,977)	$ (32,374)
Gain on sale of real estate, net	52,507	0
Reconciliation to Consolidated net income:
Income from other investments, net	10,370	13,036
General and administrative	(9,909)	(8,038)
Other expenses	(427)	(343)
Interest and related amortization	(26,393)	(25,703)
Equity in income of unconsolidated joint ventures	1,533	1,195
Consolidated net income	120,535	64,177
Total assets	4,008,877	3,690,083	$ 3,925,808
Capital improvements	52,441	31,316
Property Operations
Reconciliation to Consolidated net income:
Total assets	3,771,453	3,547,466
Capital improvements	24,406	21,267
Home Sales and Rentals Operations
Reconciliation to Consolidated net income:
Total assets	237,424	142,617
Capital improvements	28,035	10,049
Operating Segments
Segment Reporting Information [Line Items]
Operations revenues	256,353	243,135
Operations expenses	(117,889)	(116,585)
Income from segment operations	138,464	126,550
Interest income	1,744	1,715
Depreciation and amortization	(37,977)	(32,374)
Gain on sale of real estate, net	52,507
Income (loss) from operations	154,738	95,891
Operating Segments \| Property Operations
Segment Reporting Information [Line Items]
Operations revenues	246,016	231,016
Operations expenses	(108,970)	(105,512)
Income from segment operations	137,046	125,504
Interest income	894	808
Depreciation and amortization	(35,543)	(29,874)
Gain on sale of real estate, net	52,507
Income (loss) from operations	154,904	96,438
Operating Segments \| Home Sales and Rentals Operations
Segment Reporting Information [Line Items]
Operations revenues	10,337	12,119
Operations expenses	(8,919)	(11,073)
Income from segment operations	1,418	1,046
Interest income	850	907
Depreciation and amortization	(2,434)	(2,500)
Gain on sale of real estate, net	0
Income (loss) from operations	(166)	(547)
Segment Reconciling Items
Reconciliation to Consolidated net income:
Corporate interest income	7	235
Income from other investments, net	986	940
General and administrative	(9,909)	(8,038)
Other expenses	(427)	(343)
Interest and related amortization	(26,393)	(25,703)
Equity in income of unconsolidated joint ventures	$ 1,533	$ 1,195

Reportable Segments - Income from Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Rental income	$ 223,566	$ 206,993
Other income	10,370	13,036
Total revenues	259,090	246,025
Expenses:
Real estate taxes	15,323	14,135
Sales and marketing, gross	3,409	2,812
Right-to-use contract commissions, deferred, net	(191)	(24)
Home selling expenses	1,083	1,075
Total expenses	192,595	183,043
Income before equity in income of unconsolidated joint ventures	119,002	62,982
Property Operations
Revenues:
Rental income	219,982	203,478
Total revenues	246,016	231,016
Expenses:
Rental home operating and maintenance	76,744	74,908
Real estate taxes	15,323	14,135
Sales and marketing, gross	3,409	2,812
Right-to-use contract commissions, deferred, net	(191)	(24)
Total expenses	108,970	105,512
Income before equity in income of unconsolidated joint ventures	137,046	125,504
Home Sales and Rentals Operations
Revenues:
Rental home income	3,584	3,515
Total revenues	10,337	12,119
Expenses:
Rental home operating and maintenance	1,204	1,424
Home selling expenses	1,083	1,075
Total expenses	8,919	11,073
Income before equity in income of unconsolidated joint ventures	1,418	1,046
Gross revenues from home sales
Revenues:
Contract revenue	6,475	8,309
Expenses:
Cost of home sales	6,632	8,574
Gross revenues from home sales \| Home Sales and Rentals Operations
Revenues:
Contract revenue	6,475	8,309
Expenses:
Cost of home sales	6,632	8,574
Brokered resale revenues, net \| Home Sales and Rentals Operations
Revenues:
Contract revenue	278	282
Right-to-use annual payments
Revenues:
Contract revenue	12,316	11,519
Right-to-use annual payments \| Property Operations
Revenues:
Contract revenue	12,316	11,519
Right-to-use contracts current period, gross
Revenues:
Contract revenue	3,838	3,162
Right-to-use contracts current period, gross \| Property Operations
Revenues:
Contract revenue	3,838	3,162
Right-to-use contract upfront payments, deferred, net
Revenues:
Contract revenue	(1,771)	(1,285)
Right-to-use contract upfront payments, deferred, net \| Property Operations
Revenues:
Contract revenue	(1,771)	(1,285)
Ancillary services \| Property Operations
Revenues:
Contract revenue	1,281	1,106
Ancillary services \| Home Sales and Rentals Operations
Revenues:
Contract revenue	0	13
Property management
Expenses:
Cost of home sales	13,685	13,681
Property management \| Property Operations
Expenses:
Cost of home sales	$ 13,685	$ 13,681

Subsequent Event (Details) - Subsequent Event - Round Top RV Campground $ in Millions	Apr. 10, 2019 USD ($) site
Subsequent Event
Number of acquired sites (sites) \| site	391
Purchase price	$ 12.4
Liabilities incurred	7.8
Mortgage premium transferred	$ 0.2

Label	Element	Value
Accumulated Distributions in Excess of Net Income [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ (227,166,000)
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	883,000
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1,242,109,000
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	942,000
Noncontrolling Interest Of Common Units [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	68,088,000
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (15,186,000)