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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Significant Accounting Policies

	For the Year Ended December 31,
	2015		2014		2013
Capitalized interest	$	32,664	$	16,500	$	15,585

Summarized financial information for discontinued operations

	For the Year Ended
	2014			2013
TOTAL REVENUE	$	262,652		$	626,289
Property Operating		43,175			104,089
Depreciation and amortization		76,992			182,828
Real estate taxes		32,474			76,216
Repairs and maintenance		10,331			22,584
Advertising and promotion		3,340			8,316
Provision for credit losses		1,494			572
Other		2,028			4,664

Total operating expenses		169,834			399,269
OPERATING INCOME		92,818			227,020
Interest expense		(26,076	)		(55,058	)
Income and other taxes		(112	)		(196	)
Income (loss) from unconsolidated entities		652			(1,121	)
Gain upon acquisition of controlling interests, sale or disposal of assets and interests in unconsolidated entities, and impairment charge on investment in unconsolidated entities, net		242			14,152

CONSOLIDATED NET INCOME		67,524			184,797
Net income attributable to noncontrolling interests		9,781			26,571

NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$	57,743		$	158,226

Schedule of deferred costs and other assets

	2015		2014
Deferred financing and lease costs, net	$	325,720	$	312,569
In-place lease intangibles, net		188,219		216,330
Acquired above market lease intangibles, net		67,363		75,366
Marketable securities of our captive insurance companies		87,257		111,844
Goodwill		20,098		20,098
Other marketable and non-marketable securities		278,026		698,265
Prepaids, notes receivable and other assets, net		385,576		372,317

	$	1,352,259	$	1,806,789

Schedule of deferred financing and leasing costs

	2015			2014
Deferred financing and lease costs	$	567,862		$	533,050
Accumulated amortization		(242,142	)		(220,481	)

Deferred financing and lease costs, net	$	325,720		$	312,569

Schedule of amortization from continuing operations, included in statements of operations and comprehensive income

	For the Year Ended December 31,
	2015			2014			2013
Amortization of deferred financing costs	$	19,349		$	21,392		$	25,159
Amortization of debt premiums, net of discounts		(16,107	)		(24,092	)		(33,026	)
Amortization of deferred leasing costs		43,788			39,488			34,891

Schedule of intangible assets

	2015			2014
In-place lease intangibles	$	431,712		$	416,623
Accumulated depreciation		(243,493	)		(200,293	)

In-place lease intangibles, net	$	188,219		$	216,330

	2015			2014
Acquired above market lease intangibles	$	183,625		$	225,335
Accumulated amortization		(116,262	)		(149,969	)

Acquired above market lease intangibles, net	$	67,363		$	75,366

Schedule of estimated future amortization and the increasing (decreasing) effect on minimum rents for above and below market leases

Estimated future amortization and the increasing (decreasing) effect on minimum rents for our above and below market leases as of December 31, 2015 are as follows:

	Below Market Leases		Above Market Leases			Impact to Minimum Rent, Net
2016	$	30,568	$	(19,677	)	$	10,891
2017		23,517		(16,155	)		7,362
2018		18,424		(12,422	)		6,002
2019		15,347		(8,964	)		6,383
2020		12,131		(6,542	)		5,589
Thereafter		17,801		(3,603	)		14,198

	$	117,788	$	(67,363	)	$	50,425

Schedule of carrying amount of noncontrolling interests

	2015		2014
Limited partners' interests in the Operating Partnership	$	741,449	$	858,557
Nonredeemable noncontrolling interests (deficit) in properties, net		3,456		(229	)

Total noncontrolling interests reflected in equity	$	744,905	$	858,328

Schedule of rollforward of noncontrolling interests

	2015			2014			2013
Noncontrolling interests, beginning of period	$	858,328		$	973,226		$	982,486
Net income attributable to noncontrolling interests after preferred distributions and income attributable to redeemable noncontrolling interests in consolidated properties		309,740			241,023			221,176
Distributions to noncontrolling interest holders		(318,780	)		(290,705	)		(242,881	)
Other comprehensive income (loss) allocable to noncontrolling interests:
Unrealized gain on derivative hedge agreements		2,543			617			1,057
Net (gain) loss reclassified from accumulated other comprehensive loss into earnings		(9,925	)		1,568			1,317
Currency translation adjustments		(22,749	)		(14,858	)		426
Changes in available-for-sale securities and other		(1,803	)		14,945			(213	)

		(31,934	)		2,272			2,587

Adjustment to limited partners' interest from change in ownership in the Operating Partnership		(101,480	)		(211,657	)		(29,615	)
Units issued to limited partners		—			84,910			—
Units exchanged for common shares		(7,942	)		(1,297	)		(11,161	)
Units redeemed		(14,843	)		(1,463	)		—
Long-term incentive performance units		47,279			49,938			45,341
Contributions by noncontrolling interest holders, net and other		4,537			12,081			5,293

Noncontrolling interests, end of period	$	744,905		$	858,328		$	973,226

Schedule of changes in components of accumulated other comprehensive income (loss) net of noncontrolling interest

	Currency translation adjustments			Accumulated derivative losses, net			Net unrealized gains on marketable securities			Total
Beginning balance	$	(110,722	)	$	(39,161	)	$	88,842		$	(61,041	)
Other comprehensive income (loss) before reclassifications		(137,563	)		14,579			(9,397	)		(132,381	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			9,421			(68,685	)		(59,264	)

Net current-period other comprehensive income (loss)		(137,563	)		24,000			(78,082	)		(191,645	)

Ending balance	$	(248,285	)	$	(15,161	)	$	10,760		$	(252,686	)

Schedule of reclassifications out of accumulated other comprehensive income (loss)

	December 31, 2015			December 31, 2014			December 31, 2013
Details about accumulated other comprehensive income (loss) components:	Amount reclassified from accumulated other comprehensive income (loss)			Amount reclassified from accumulated other comprehensive income (loss)			Amount reclassified from accumulated other comprehensive income (loss)			Affected line item in the statement where net income is presented
Accumulated derivative losses, net
	$	(10,998	)	$	(10,789	)	$	(9,205	)	Interest expense
		1,577			1,568			1,317		Net income attributable to noncontrolling interests

	$	(9,421	)	$	(9,221	)	$	(7,888	)


Realized gain on sale of marketable securities	$	80,187		$	—		$	—		Other income
		(11,502	)		—			—		Net income attributable to noncontrolling interests

	$	68,685		$	—		$	—

Schedule of activity in the allowance for credit losses

	For the Year Ended December 31,
	2015			2014			2013
Balance, beginning of period	$	33,282		$	32,681		$	29,263
Provision for credit losses		6,635			12,001			7,165
Accounts written off, net of recoveries		(9,823	)		(11,400	)		(3,747	)

Balance, end of period	$	30,094		$	33,282		$	32,681