SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful lives

Asset Type	Years
Buildings and improvements		10-45
Equipment, tenant improvements and fixtures		5-10
Computer hardware and software, and vehicles		3-5

Schedule of categories of developments

	December 31,
	2013		2012
	(In thousands)
Land & improvements	$	194,282	$	172,614
Development costs		293,874		78,198
Condominium rights		—		22,801
Total Developments	$	488,156	$	273,613

Summary of changes in allowance for doubtful accounts against accounts receivables

	2013			2012			2011
	(In thousands)
Balance as of January 1	$	8,914		$	8,496		$	10,966
Change in provision *		2,008			1,224			(235	)
Write-offs		(3,532	)		(806	)		(2,235	)
Balance as of December 31	$	7,390		$	8,914		$	8,496

Summary of information related to the entity's EPS calculations

	Years Ended December 31,
	2013			2012			2011
	(In thousands, except per share amounts)
Basic EPS:
Numerator:
Net income (loss)	$	(73,695	)	$	(127,543	)	$	148,470
Net income attributable to noncontrolling interests		(95	)		(745	)		(1,290	)
Net income (loss) attributable to common stockholders	$	(73,790	)	$	(128,288	)	$	147,180
Denominator:
Weighted average number of common shares outstanding		39,449			38,127			37,908
Diluted EPS:
Numerator:
Net income (loss) attributable to common stockholders	$	(73,790	)	$	(128,288	)	$	147,180
Less: Warrant liability gain		—			—			(101,584	)
Adjusted net income (loss) available to common stockholders	$	(73,790	)	$	(128,288	)	$	45,596
Denominator:
Weighted average number of common shares outstanding		39,449			38,127			37,908
Warrants		—			—			1,074
Weighted average diluted common shares oustanding		39,449			38,127			38,982
Basic earnings (loss) per share	$	(1.87	)	$	(3.36	)	$	3.88
Diluted earnings (loss) per share	$	(1.87	)	$	(3.36	)	$	1.17