Impairment (Tables)

9 Months Ended

Sep. 30, 2012

Asset Impairment Charges [Abstract]

Summary Of Impairment Charges

The following impairment charges were recorded on the following assets based on the difference between the carrying amount of the assets and the estimated fair value (see Note 19 for additional fair value information) (in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2012		2011			2012		2011
Continuing operations:
Land held for development and undeveloped land (1)	$	—	$	23,646		$	—	$	23,646
Property marketed for sale or sold (2)	159		6,538			3,300		7,462
Investments in real estate joint ventures and partnerships (3)	—		1,474			6,608		1,474
Tax increment revenue bonds (4)	—		—			—		18,737
Total reported in continuing operations	159		31,658			9,908		51,319
Discontinued operations:
Property held for sale or sold (5)	177		18,531			5,502		21,420
Total impairment charges	336		50,189			15,410		72,739
Other financial statement captions impacted by impairment:
Equity in losses of real estate joint ventures and partnerships, net	57		6,912			19,946		7,022
Net loss attributable to noncontrolling interests	—		(4,459		)	—		(4,459		)
Net impact of impairment charges	$	393	$	52,642		$	35,356	$	75,302

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(1) Impairment was prompted by changes in management's plans for these properties, recent comparable market transactions and/or a change in market conditions.

(2) These charges resulted from changes in management’s plans for these properties, primarily the marketing of these properties for sale. Also included in this caption are impairments associated with dispositions that did not qualify to be reported in discontinued operations.

(3) Amounts reported in 2012 are based on third party offers to buy our interests in industrial real estate joint ventures.

(4) During 2011, the tax increment revenue bonds were remarketed by the Agency. All of the outstanding bonds were recalled, and new bonds were issued. We recorded an $18.7 million net credit loss on the exchange of bonds associated with our investment in the subordinated tax increment revenue bonds.

(5) Amounts reported in 2012 are based on third party offers.