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Fair Value Measurements (Assets Measured On Nonrecurring Basis) (Details) (USD $)
1 Months Ended 12 Months Ended
Apr. 30, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Total   $ 43,910,000 $ 176,787,000  
Total Gains (Losses)   (9,579,000) [1] (71,195,000) [2]  
Property, net   3,359,011,000 [3] 3,702,236,000 [3]  
Property Held for Sale, net   0 73,241,000  
Investment in Real Estate Joint Ventures and Partnerships, net   289,049,000 341,608,000  
Cash received on exchange of bonds 16,500,000 0 16,545,000 0
Subordinate Tax Increment Revenue Bonds [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Investments     26,723,000 [4]  
Total Gains (Losses)     (18,737,000) [2],[4] (11,700,000)
Receipt Of Investments 57,700,000      
Investment at fair value 10,700,000      
Investment Owned, at Cost 22,400,000      
Senior Tax Increment Revenue Bonds [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Investment at fair value 51,300,000      
Impaired Property [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Property   19,679,000 [5] 98,596,000 [6]  
Total Gains (Losses)   (2,971,000) [1],[5] (36,907,000) [2],[6]  
Property, net   22,400,000 135,500,000  
Cost to sell property   300,000    
Impaired Property Held For Sale [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Property held for sale     45,157,000 [7]  
Total Gains (Losses)     (13,799,000) [2],[7]  
Property Held for Sale, net     57,000,000  
Cost to sell property     2,000,000  
Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Investment in real estate joint ventures and partnerships   24,231,000 [8] 6,311,000 [9]  
Total Gains (Losses)   (6,608,000) [1],[8] (1,752,000) [2],[9]  
Investment in Real Estate Joint Ventures and Partnerships, net   30,800,000 8,100,000  
Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Total   0 0  
Significant Other Observable Inputs (Level 2) [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Total   30,004,000 44,046,000  
Significant Other Observable Inputs (Level 2) [Member] | Impaired Property [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Property   5,773,000 [5] 389,000 [6]  
Significant Other Observable Inputs (Level 2) [Member] | Impaired Property Held For Sale [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Property held for sale     43,657,000 [7]  
Significant Other Observable Inputs (Level 2) [Member] | Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Investment in real estate joint ventures and partnerships   24,231,000 [8]    
Significant Unobservable Inputs (Level 3) [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Total   13,906,000 132,741,000  
Significant Unobservable Inputs (Level 3) [Member] | Subordinate Tax Increment Revenue Bonds [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Investments     26,723,000 [4]  
Significant Unobservable Inputs (Level 3) [Member] | Subordinate Tax Increment Revenue Bonds [Member] | Minimum [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair Value Inputs Expected Future Growth Rate     1.00%  
Fair Value Input Expected Future Inflation Rate     1.00%  
Significant Unobservable Inputs (Level 3) [Member] | Subordinate Tax Increment Revenue Bonds [Member] | Maximum [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair Value Inputs Expected Future Growth Rate     4.00%  
Fair Value Input Expected Future Inflation Rate     2.00%  
Significant Unobservable Inputs (Level 3) [Member] | Impaired Property [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Property   13,906,000 [5] 98,207,000 [6]  
Significant Unobservable Inputs (Level 3) [Member] | Impaired Property [Member] | Minimum [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair Value Input Discount Rate     8.00%  
Significant Unobservable Inputs (Level 3) [Member] | Impaired Property [Member] | Maximum [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair Value Input Discount Rate     13.00%  
Significant Unobservable Inputs (Level 3) [Member] | Impaired Property Held For Sale [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Property held for sale     1,500,000 [7]  
Fair Value Input Discount Rate     10.00%  
Significant Unobservable Inputs (Level 3) [Member] | Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Investment in real estate joint ventures and partnerships     $ 6,311,000 [9]  
Significant Unobservable Inputs (Level 3) [Member] | Impaired Investment In Real Estate Joint Ventures And Partnerships [Member] | Minimum [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair Value Input Market Capitalization Rate     7.00%  
Significant Unobservable Inputs (Level 3) [Member] | Impaired Investment In Real Estate Joint Ventures And Partnerships [Member] | Maximum [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair Value Input Market Capitalization Rate     9.00%  
[1] Total gains (losses) exclude impairments on disposed assets because they are no longer held by us.
[2] Total gains (losses) are reflected throughout 2011 and exclude impairments on disposed assets because they are no longer held by us.
[3] * Consolidated Variable Interest Entities' Assets and Liabilities included in the above balances (See Note 22):
[4] A net credit loss on the exchange of bonds of $18.7 million was recognized upon the recall and replacement of our investment in tax increment revenue bonds by the Agency in April 2011. The exchange transaction resulted in us receiving approximately $16.5 million in cash proceeds and $57.7 million in new subordinated bonds replacing the face value of our $51.3 million of senior bonds and $22.4 million of subordinate bonds, which had been previously written down to a fair value of $10.7 million. The carrying value of the $57.7 million subordinated bonds received in the exchange were written down to their fair value of $26.7 million, of which a loss of $11.7 million was previously recognized in December 2010. The net credit loss resulted as management did not expect to recover the par value of the bonds based upon changes in terms of the bonds and future sales tax revenue projections of the development project through their maturity. Management’s estimates of the fair value of these investments were determined using third-party sales revenue projections, future growth rates ranging from 1% to 4% and inflation rates ranging from 1% to 2% for the Level 3 inputs.
[5] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $22.4 million was written down to a fair value of $19.7 million less costs to sell of $.3 million, resulting in a loss of $3.0 million, which was included in earnings for the period. Management’s estimate of the fair value of these properties was determined using bona fide purchase offer for the Level 2 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.
[6] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $135.5 million was written down to a fair value of $98.6 million, resulting in a loss of $36.9 million, which was included in earnings for the period. Management’s estimate of the fair value of these properties was determined using the expected sales price of an executed agreement for the Level 2 input and using third party broker valuations, bona fide purchase offers, cash flow models and discount rates ranging from 8% to 13% for the Level 3 inputs.
[7] Property held for sale with a carrying amount of $57.0 million was written down to a fair value of $45.2 million less costs to sell of $2.0 million, resulting in a loss of $13.8 million, which was included in discontinued operations in the Consolidated Statements of Operations and Comprehensive Income for the period. Management’s estimate of the fair value of these properties was determined using the expected sales price of executed agreements for the Level 2 inputs and a cash flow model using a discount rate of 10% for the Level 3 input.
[8] Our net investment in real estate joint ventures and partnerships with a carrying amount of $30.8 million was written down to a fair value of $24.2 million, resulting in a loss of $6.6 million, which was included in earnings for the period. Management’s estimate of the fair value of this investment was determined using the weighted average of the bona fide purchase offers received for the Level 2 inputs.
[9] Our net investment in real estate joint ventures and partnerships with a carrying amount of $8.1 million was written down to a fair value of $6.3 million, resulting in a loss of $1.8 million, which was included in earnings for the period. Management’s estimate of the fair value of these investments was determined using the life and other terms of the investment, our partner’s financial condition, cash flow models and market capitalization rates ranging from 7% to 9% for the Level 3 inputs.