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Segment Reporting (Schedule of Segments) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended 6 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Apr. 19, 2013
LNR Property LLC (LNR)
Dec. 31, 2013
LNR Property LLC (LNR)
Dec. 31, 2012
LNR Property LLC (LNR)
Sep. 30, 2012
LNR Property LLC (LNR)
Dec. 31, 2011
LNR Property LLC (LNR)
Sep. 30, 2011
LNR Property LLC (LNR)
Sep. 30, 2013
LNR Property LLC (LNR)
Dec. 31, 2013
Operating Segments
Real Estate Finance
Dec. 31, 2012
Operating Segments
Real Estate Finance
Dec. 31, 2011
Operating Segments
Real Estate Finance
Dec. 31, 2013
Operating Segments
Net Lease
Dec. 31, 2012
Operating Segments
Net Lease
Dec. 31, 2011
Operating Segments
Net Lease
Dec. 31, 2013
Operating Segments
Operating Properties
Dec. 31, 2012
Operating Segments
Operating Properties
Dec. 31, 2011
Operating Segments
Operating Properties
Dec. 31, 2013
Operating Segments
Land
Dec. 31, 2012
Operating Segments
Land
Dec. 31, 2011
Operating Segments
Land
Dec. 31, 2013
Corporate, Non-Segment
Dec. 31, 2012
Corporate, Non-Segment
Dec. 31, 2011
Corporate, Non-Segment
Segment Reporting                                                                  
Operating lease income                 $ 234,567 $ 216,291 $ 195,872               $ 0 $ 0 [1] $ 0 [1] $ 147,313 $ 149,058 [1] $ 144,548 [1] $ 86,352 $ 65,706 [1] $ 51,153 [1] $ 902 $ 1,527 [1] $ 171 [1] $ 0 [2] $ 0 [1],[2] $ 0 [1],[2]
Interest income                 108,015 133,410 226,871               108,015 133,410 [1] 226,871 [1] 0 0 [1] 0 [1] 0 0 [1] 0 [1] 0 0 [1] 0 [1] 0 [2] 0 [1],[2] 0 [1],[2]
Other income                 48,208 47,838 39,722               4,748 8,613 [1] 3,176 [1] 250 0 [1] 0 [1] 38,164 32,615 [1] 32,538 [1] 1,474 2,635 [1] 1,637 [1] 3,572 [2] 3,975 [1],[2] 2,371 [1],[2]
Total revenues 101,073 [3] 95,696 [3] 99,919 [3] 94,102 [3] 96,421 [3],[4] 93,462 [3],[4] 106,886 [3],[4] 100,770 [3],[4] 390,790 397,539 462,465               112,763 142,023 [1] 230,047 [1] 147,563 149,058 [1] 144,548 [1] 124,516 98,321 [1] 83,691 [1] 2,376 4,162 [1] 1,808 [1] 3,572 [2] 3,975 [1],[2] 2,371 [1],[2]
Earnings (loss) from equity method investments                 41,520 103,009 95,091 45,375 [5],[6] 16,465 60,669 60,669 [5],[6] 53,861 53,861 [5],[6]   0 0 [1] 0 [1] 2,699 2,632 [1] 2,566 [1] 5,546 25,142 [1] (626) [1] (5,331) (6,138) [1] (7,213) [1] 38,606 [2] 81,373 [1],[2] 100,364 [1],[2]
Income from sales of residential property               27,900 86,658 63,472 5,721               0 0 [1] 0 [1] 0 0 [1] 0 [1] 82,603 63,472 [1] 5,721 [1] 4,055 0 [1] 0 [1] 0 [2] 0 [1],[2] 0 [1],[2]
Net operating income from discontinued operations(2)                 2,735 8,175 13,198               0 0 [1] 0 [1] 1,484 7,289 [1] 14,135 [1] 1,251 886 [1] (937) [1] 0 0 [1] 0 [1] 0 [2] 0 [1],[2] 0 [1],[2]
Gain from discontinued operations                 22,233 27,257 25,110               0 0 [1] 0 [1] 3,395 27,257 [1] 25,110 [1] 18,838 0 [1] 0 [1] 0 0 [1] 0 [1] 0 [2] 0 [1],[2] 0 [1],[2]
Revenue and other earnings                 543,936 599,452 601,585               112,763 142,023 [1] 230,047 [1] 155,141 186,236 [1] 186,359 [1] 232,754 187,821 [1] 87,849 [1] 1,100 (1,976) [1] (5,405) [1] 42,178 [2] 85,348 [1],[2] 102,735 [1],[2]
Real estate expense                 (157,441) (151,458) (138,714)               0 0 [1] 0 [1] (22,565) (23,886) [1] (25,054) [1] (101,044) (100,258) [1] (92,012) [1] (33,832) (27,314) [1] (21,648) [1] 0 [2] 0 [1],[2] 0 [1],[2]
Other expense                 (8,050) (17,266) (11,070)               (1,625) (4,775) [1] (2,866) [1] 0 0 [1] 0 [1] 0 0 [1] 0 [1] 0 0 [1] 0 [1] (6,425) [2] (12,491) [1],[2] (8,204) [1],[2]
Allocated interest expense(2)                 (266,225) [7] (356,161) [7] (345,914) [7]               (74,377) [7] (111,898) [1],[7] (156,163) [1],[7] (80,034) [7] (92,579) [1],[7] (75,844) [1],[7] (49,114) [7] (69,259) [1],[7] (52,774) [1],[7] (30,368) [7] (44,125) [1],[7] (40,480) [1],[7] (32,332) [2],[7] (38,300) [1],[2],[7] (20,653) [1],[7]
Allocated general and administrative(3)                 (72,853) [8] (65,563) [8] (75,337) [8]               (13,186) [8] (14,263) [1],[8] (19,934) [1],[8] (14,330) [8] (10,618) [1],[8] (9,681) [1],[8] (9,189) [8] (7,572) [1],[8] (6,737) [1],[8] (12,365) [8] (7,405) [1],[8] (6,959) [1],[8] (23,783) [2],[8] (25,705) [1],[2],[8] (32,026) [1],[8]
Segment profit (loss)(4)                 39,367 [9] 9,004 [9] 30,550 [9]               23,575 [9] 11,087 [1],[9] 51,084 [1],[9] 38,212 [9] 59,153 [1],[9] 75,780 [1],[9] 73,407 [9] 10,732 [1],[9] (63,674) [1],[9] (75,465) [9] (80,820) [1],[9] (74,492) [1],[9] (20,362) [2],[9] 8,852 [1],[9] 41,852 [1],[9]
Provision for loan losses                 5,489 81,740 [10] 46,412 [10]               5,489 81,740 [1] 46,412 [1] 0 0 [1] 0 [1] 0 0 [1] 0 [1] 0 0 [1] 0 [1] 0 [2] 0 [1],[2] 0 [1],[2]
Impairment of assets                 14,353 [7] 36,354 [7] 22,386 [7]               0 [7] 0 [1],[7] 0 [1],[7] 1,176 [7] 6,670 [1],[7] 668 [1],[7] 12,449 [7] 28,501 [1],[7] 21,030 [1],[7] 728 [7] 205 [1],[7] (184) [1],[7] 0 [2],[7] 978 [1],[2],[7] 872 [1],[2],[7]
Loss on transfer of interest to unconsolidated subsidiary                 7,373 0 0               0     0     0     (7,373)     0    
Depreciation and amortization                 71,530 [7] 70,786 [7] 63,928 [7]               0 [7] 0 [1],[7] 0 [1],[7] 38,582 [7] 39,250 [1],[7] 42,080 [1],[7] 30,599 [7] 28,450 [1],[7] 18,169 [1],[7] 1,105 [7] 1,276 [1],[7] 1,534 [1],[7] 1,244 [2],[7] 1,810 [1],[2],[7] 2,145 [1],[2],[7]
Capitalized expenditures                 111,553 83,070 64,169               0 0 [1] 0 [1] 34,076 10,994 [1] 8,699 [1] 41,131 51,579 [1] 38,477 [1] 36,346 20,497 [1] 16,993 [1] 0 [2] 0 [1],[2] 0 [1],[2]
Real estate, at cost 3,220,634       3,117,405       3,220,634 3,117,405                 0 0   1,696,888 1,626,810   720,508 704,481   803,238 786,114   0 [2] 0 [2]  
Less: accumulated depreciation (424,453)       (378,306)       (424,453) (378,306)                 0 0   (338,640) (310,605)   (82,420) (65,409)   (3,393) (2,292)   0 [2] 0 [2]  
Real estate, net 2,796,181       2,739,099       2,796,181 2,739,099                 0 0   1,358,248 1,316,205   638,088 639,072   799,845 783,822   0 [2] 0 [2]  
Real estate available and held for sale 360,517       635,865       360,517 635,865                 0 0   0 0   228,328 454,587   132,189 181,278   0 [2] 0 [2]  
Total real estate 3,156,698       3,374,964       3,156,698 3,374,964                 0 0   1,358,248 1,316,205   866,416 1,093,659   932,034 965,100   0 [2] 0 [2]  
Loans receivable and other lending investments, net 1,370,109 [11]       1,829,985 [11]       1,370,109 [11] 1,829,985 [11]                 1,370,109 1,829,985   0 0   0 0   0 0   0 [2] 0 [2]  
Other investments 207,209       398,843       207,209 398,843                 0 0   16,408 16,380   16,032 25,745   29,765 5,493   145,004 [2] 351,225 [2]  
Total portfolio assets 4,734,016       5,603,792       4,734,016 5,603,792                 1,370,109 1,829,985   1,374,656 1,332,585   882,448 1,119,404   961,799 970,593   145,004 [2] 351,225 [2]  
Cash and other assets 907,995       556,207       907,995 556,207                                              
Total assets 5,642,011       6,159,999       5,642,011 6,159,999                                              
Equity method investments 197,307       387,718       197,307 387,718     0 205,773 205,773 [12],[6]     0 [12],[6]                              
Stock-based compensation expense                 $ 19,261 $ 15,293 $ 29,702                                            
[1] The prior periods' presentation have been conformed for the change in the methodology of allocating interest expense and general and administrative expenses to each segment based on gross carrying value of assets. The allocation was previously based on carrying value of assets net of accumulated depreciation and amortization and general loan loss reserves.
[2] Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not related to the other reportable segments above, including the Company's equity investment in LNR of $205.8 million as of December 31, 2012 and the Company's share of equity in earnings from LNR of $16.5 million, $60.7 million and $53.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. See Note 6 for further details on the Company's investment in LNR and summarized financial information of LNR.
[3] During the quarter ended December 31, 2012, the Company recorded a loss on early extinguishment of debt of $31.0 million primarily related to a prepayment penalty on the early repayment of 8.625% Senior Notes, as well as a loss due to the acceleration of unamortized fees and discounts related to the refinancing of the 2011 Secured Credit Facilities (see Note 8). The Company also recorded $27.9 million related to Income from sales of residential property. During the quarter ended March 31, 2012, the Madison Funds recorded a significant gain related to the sale of an investment for which the Company recorded its $13.7 million proportionate share.
[4] All periods have been adjusted to reflect the impact of properties sold during 2013 and 2012 and properties classified as held for sale as of December 31, 2013, which are reflected in "Income (loss) from discontinued operations on the Consolidated Statements of Operations.(2)During the quarter ended December 31, 2012, the Company recorded a loss on early extinguishment of debt of $31.0 million primarily related to a prepayment penalty on the early repayment of 8.625% Senior Notes, as well as a loss due to the acceleration of unamortized fees and discounts related to the refinancing of the 2011 Secured Credit Facilities (see Note 8). The Company also recorded $27.9 million related to Income from sales of residential property. During the quarter ended March 31, 2012, the Madison Funds recorded a significant gain related to the sale of an investment for which the Company recorded its $13.7 million proportionate share.
[5] LNR reported a net loss for the period from April 1, 2013 to April 19, 2013 which had already been considered in the Company's other than temporary impairment assessment. As such, no equity in earnings was recorded during the quarter ended September 30, 2013. The total equity in earnings recognized for LNR was $45.4 million for the year ended December 31, 2013.
[6] The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag, therefore, amounts in the Company's financial statements for the year ended December 31, 2013 are based on balances and results from LNR for the period from October 1, 2012 to April 19, 2013. The amounts in the Company's financial statements for the year ended December 31, 2012 and 2011 are based on balances and results from LNR for the years ended September 30, 2012 and 2011, respectively.
[7] Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
[8] General and administrative excludes stock-based compensation expense of $19.3 million, $15.3 million and $29.7 million for the years ended December 31, 2013, 2012 and 2011, respectively.
[9] The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Years Ended December 31, 2013 2012 2011Segment profit (loss)$39,367 $9,004 $30,550Less: Provision for loan losses(5,489) (81,740) (46,412)Less: Impairment of assets(2)(14,353) (36,354) (22,386)Less: Loss on transfer of interest to unconsolidated subsidiary(7,373) — —Less: Stock-based compensation expense(19,261) (15,293) (29,702)Less: Depreciation and amortization(2)(71,530) (70,786) (63,928)Less: Income tax (expense) benefit(2)596 (8,445) 4,719Add: Gain (loss) on early extinguishment of debt, net(33,190) (37,816) 101,466Net income (loss)$(111,233) $(241,430) $(25,693)
[10] For the years ended December 31, 2013, 2012 and 2011, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $63.1 million, $4.6 million and $23.6 million, respectively.
[11] The Company's recorded investment in loans as of December 31, 2013 and 2012 also includes accrued interest of $6.5 million and $9.8 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's Consolidated Balance Sheets.
[12] Represents the Company's investment in LNR at December 31, 2013 and 2012, respectively.