Business Segments (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Reporting, Reconciliation of Revenues, Operating Income and Assets

The following reconciliations are presented in thousands:

	Three Months Ended
	March 31,
		2016			2015
Revenues:
Real estate operations:
U.S.	$	511,157		$	376,198
Other Americas		13,956			14,432
Europe		16,789			18,769
Asia		14,732			11,423
Total Real Estate Operations segment		556,634			420,822
Strategic capital:
U.S.		9,356			9,357
Other Americas		5,365			5,569
Europe		22,269			18,393
Asia		12,676			8,706
Total Strategic Capital segment		49,666			42,025
Total revenues	$	606,300		$	462,847
Net operating income:
Real estate operations:
U.S.	$	375,718		$	259,578
Other Americas		8,214			9,843
Europe		11,619			10,938
Asia		9,817			7,793
Total Real Estate Operations segment		405,368			288,152
Strategic capital:
U.S.		1,709			1,580
Other Americas		3,115			2,933
Europe		15,306			11,795
Asia		4,243			535
Total Strategic Capital segment		24,373			16,843
Total segment net operating income		429,741			304,995
Reconciling items:
General and administrative expenses, net		(50,543	)		(51,306	)
Depreciation and amortization expenses		(250,000	)		(169,808	)
Earnings from unconsolidated entities, net		58,311			31,042
Interest expense		(80,812	)		(68,761	)
Interest and other income, net		2,591			11,049
Gains on dispositions of investments in real estate, net		144,317			277,715
Foreign currency and derivative gains (losses) and related amortization, net		(14,211	)		34,566
Losses on early extinguishment of debt, net		(1,052	)		(16,289	)
Total reconciling items		(191,399	)		48,208
Earnings before income taxes	$	238,342		$	353,203

	March 31,		December 31,
		2016		2015
Assets:
Real estate operations:
U.S.	$	21,705,401	$	22,030,457
Other Americas		1,015,963		919,381
Europe		1,447,446		1,291,991
Asia		1,164,456		1,157,401
Total Real Estate Operations segment		25,333,266		25,399,230
Strategic capital:
U.S.		19,046		19,363
Europe		50,673		49,960
Asia		1,947		2,005
Total Strategic Capital segment		71,666		71,328
Total segment assets		25,404,932		25,470,558
Reconciling items:
Investments in and advances to unconsolidated entities		4,866,664		4,755,620
Assets held for sale or contribution		431,332		378,423
Notes receivable backed by real estate		37,550		235,050
Cash and cash equivalents		369,737		264,080
Other assets		265,533		291,036
Total reconciling items		5,970,816		5,924,209
Total assets	$	31,375,748	$	31,394,767