Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

The following table provides a summary of the carrying value in our consolidated balance sheet, as well as our maximum loss exposure under guarantees for the unconsolidated subsidiaries that we have determined to be VIEs at December 31, 2014 and 2013, respectively (in millions):



	Carrying Value					Maximum Loss Exposure
	December 31, 2014		December 31, 2013			December 31, 2014		December 31, 2013
Investment in unconsolidated companies	$	—	$	7.5		$	—	$	7.5
Guarantee obligations	$	—	$	(18.4	)	$	—	$	(112.8	)

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

Deferred leasing and other costs at December 31, 2014 and 2013, excluding such costs for properties classified as held-for-sale, were as follows (in thousands):



	2014			2013
Deferred leasing costs	$	362,438		$	477,374
Acquired lease-related intangible assets	325,759			383,654
	$	688,197		$	861,028

Accumulated amortization - deferred leasing costs	$	(125,754	)	$	(247,081	)
Accumulated amortization - acquired lease-related intangible assets	(134,129		)	(146,968		)
Total	$	428,314		$	466,979

Schedule of Future Amortized Expense and Charge to Rental Income

The expected future amortization, or charge to rental income, of acquired lease-related intangible assets is summarized in the table below (in thousands):



Year	Amortization Expense		Charge to Rental Income
2015	$	39,127	$	1,677
2016	33,537		1,359
2017	28,105		1,127
2018	21,674		980
2019	17,241		793
Thereafter	44,030		1,980
	$	183,714	$	7,916

Schedule of Earnings Per Share, Basic and Diluted

The following table reconciles the components of basic and diluted net income (loss) per common share or Common Unit (in thousands):



	2014			2013			2012
General Partner
Net income (loss) attributable to common shareholders	$	204,893		$	153,044		$	(126,145	)
Less: Dividends on participating securities	(2,588		)	(2,678		)	(3,075		)
Basic net income (loss) attributable to common shareholders	202,305			150,366			(129,220		)
Noncontrolling interest in earnings of common unitholders	2,627			2,094			—
Diluted net income (loss) attributable to common shareholders	$	204,932		$	152,460		$	(129,220	)
Weighted average number of common shares outstanding	335,777			322,133			267,900
Weighted average Limited Partner Units outstanding	4,308			4,392			—
Other potential dilutive shares	361			187			—
Weighted average number of common shares and potential dilutive securities	340,446			326,712			267,900

Partnership
Net income (loss) attributable to common unitholders	$	207,520		$	155,138		$	(128,418	)
Less: Distributions on participating securities	(2,588		)	(2,678		)	(3,075		)
Basic and diluted net loss attributable to common unitholders	$	204,932		$	152,460		$	(131,493	)
Weighted average number of Common Units outstanding	340,085			326,525			272,729
Other potential dilutive units	361			187			—
Weighted average number of Common Units and potential dilutive securities	340,446			326,712			272,729

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the data that is excluded from the computation of net income (loss) per common share or Common Unit as a result of being anti-dilutive (in thousands):



	2014		2013		2012
General Partner
Noncontrolling interest in loss of common unitholders	$	—	$	—	$	(2,273	)
Weighted average Limited Partner Units outstanding	—		—		4,829
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	1,210		1,373		1,859
Outstanding participating securities	3,844		3,871		4,099

Reconciliation of Net Income to Taxable Income Before Dividends Paid Deduction

The following table reconciles the General Partner's net income (loss) to taxable income (loss) before the dividends paid deduction, and subject to the 90% distribution requirement, for the years ended December 31, 2014, 2013 and 2012 (in thousands):



	2014			2013			2012
Net income (loss)	$	246,455		$	196,549		$	(75,868	)
Book/tax differences	2,675			50,127			148,462
Taxable income before the dividends paid deduction	249,130			246,676			72,594
Less: capital gains	(98,267		)	(109,133		)	—
Adjusted taxable income subject to the 90% distribution requirement	$	150,863		$	137,543		$	72,594

Computation of Dividends Paid Deduction

The General Partner's dividends paid deduction is summarized below (in thousands):



	2014			2013			2012
Total Cash dividends paid	$	255,622		$	251,914		$	228,330
Less: Return of capital	(3,622		)	(1,938		)	(152,670		)
Dividends paid deduction	252,000			249,976			75,660
Less: Capital gain distributions	(98,267		)	(109,133		)	—
Dividends paid deduction attributable to adjusted taxable income subject to the 90% distribution requirement	$	153,733		$	140,843		$	75,660

Summary of Tax Characterization of Dividends Paid

A summary of the tax characterization of the dividends paid by the General Partner for the years ended December 31, 2014, 2013 and 2012 follows:



	2014		2013		2012
Common Shares
Ordinary income	59.2	%	52.6	%	14.1	%
Return of capital	2.5	%	4.4	%	85.9	%
Capital gains	38.3	%	43.0	%	—	%
	100.0	%	100.0	%	100.0	%
Preferred Shares
Ordinary income	60.7	%	55.0	%	100.0	%
Capital gains	39.3	%	45.0	%	—	%
	100.0	%	100.0	%	100.0	%

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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