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Income Taxes and Distributions (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes and Distributions (Tables) [Abstract]

Cash distributions paid to common stockholders, for federal income tax purposes

Cash distributions paid to common stockholders, for federal income tax purposes, are as follows


			Year Ended December 31,
			2012		2011		2010
Per Share:
	Ordinary income	$	1.5000	$	1.1472	$	0.7774
	Return of capital		1.3376		1.4227		1.7408
	Long-term capital gains		0.1176		0.1059		0.0190
	Unrecaptured section 1250 gains		0.0048		0.1592		0.2028
	Totals	$	2.9600	$	2.8350	$	2.7400

Schedule of provision (benefit) for income taxes


		Year Ended December 31,
		2012		2011		2010
Current	$	4,785	$	389	$	319
Deferred		2,827		999		45
Totals	$	7,612	$	1,388	$	364

Schedule of reconciliation of income tax expense


		Year Ended December 31,
		2012		2011		2010
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interests and income taxes	$	64,979	$	54,750	$	26,111
Increase in valuation allowance		9,234		(4,732)		317
Tax at statutory rate on earnings not subject to federal income taxes		(72,640)		(48,630)		(26,064)
Other differences		6,039		-		-
Totals	$	7,612	$	1,388	$	364

Summary of tax effects of temporary differences and carryforwards included in the net deferred tax liabilities


		Year Ended December 31,
		2012		2011		2010
Property, primarily differences in depreciation and amortization, the tax basis of land assets and the treatment of interests and certain costs	$	(2,144)	$	(1,577)	$	(29)
Operating loss and interest deduction carryforwards		8,552		1,488		7,080
Expense accruals and other		4,372		5,749		1,980
Valuation allowance		(12,199)		(2,965)		(7,697)
Totals	$	(1,419)	$	2,695	$	1,334

Schedule of Valuation Allowance Rollforward


		Year Ended December 31,
		2012		2011		2010
Beginning balance	$	2,965	$	7,697	$	7,380
Additions		9,234		-		317
Deductions		-		(4,732)		-
Ending balance	$	12,199	$	2,965	$	7,697

Unrecognized Tax Benefits Summary of activity related to unrecognized tax benefits


		Year Ended December 31,
		2012		2011
Gross unrecognized tax benefits at beginning of year	$	6,098	$	-
Increases (decreases) in unrecognized tax benefits related to a prior year		(248)		-
Increases (decreases) in unrecognized tax benefits related to the current year		394		6,098
Lapse in statute of limitations for assessment		(146)		-
Gross unrecognized tax benefits at end of year	$	6,098	$	6,098

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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