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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Rental property    
Land $ 2,728,257,000 $ 2,365,800,000
Building and improvements 8,661,362,000 7,520,095,000
11,389,619,000 9,885,895,000
Less: accumulated depreciation and amortization [1] (2,115,320,000) (1,955,406,000)
9,274,299,000 7,930,489,000
Real estate under development 179,190,000 132,331,000
Real estate, net 9,453,489,238 8,062,820,000
Investments and advances in real estate joint ventures 742,559,000 1,037,218,000
Other real estate investments 215,836,000 266,157,000
Mortgages and other financing receivables 23,824,000 74,013,000
Cash and cash equivalents 189,534,000 187,322,000
Marketable securities [2] 7,565,000 90,235,000
Accounts and notes receivable, net 175,252,000 172,386,000
Deferred charges and prepaid expenses 152,349,000 158,302,000
Other assets 383,763,000 212,947,000
Total assets 11,344,171,000 10,261,400,000
Liabilities:    
Notes payable [3] 3,761,328,000 3,171,742,000
Mortgages payable [4] 1,614,982,000 1,424,228,000
Accounts payable and accrued expenses 150,059,000 129,509,000
Dividends payable 115,182,000 111,143,000
Other liabilities 433,960,000 431,533,000
Total liabilities 6,075,511,000 5,268,155,000
Redeemable noncontrolling interests $ 86,709,000 $ 91,480,000
Commitments and Contingencies
Stockholders' equity:    
Preferred stock, $1.00 par value, authorized 6,029,100 and 5,959,100 shares, respectively, 32,000 and 102,000 shares issued and outstanding (in series), respectively Aggregate liquidation preference $800,000 and $975,000, respectively $ 32,000 $ 102,000
Common stock, $.01 par value, authorized 750,000,000 shares issued and outstanding 413,430,756 and 411,819,818 shares, respectively 4,134,000 4,118,000
Paid-in capital 5,608,881,000 5,732,021,000
Cumulative distributions in excess of net income (572,335,000) (1,006,578,000)
Accumulated other comprehensive income 5,588,000 45,122,000
Total stockholders' equity 5,046,300,000 4,774,785,000
Noncontrolling interests 135,651,000 126,980,000
Total equity 5,181,951,000 4,901,765,000
Total liabilities and equity $ 11,344,171,000 $ 10,261,400,000
[1] At December 31, 2015 and 2014, the Company had accumulated amortization relating to in-place leases, tenant relationships and above-market leases aggregating $357,581 and $290,748, respectively.
[2] As of December 31, 2015 and 2014, the Company determined that $5.9 million and $87.7 million, respectively, of the Marketable securities estimated fair value were classified within Level 1 of the fair value hierarchy and the remaining $1.7 million and $2.3 million, respectively, were classified within Level 3 of the fair value hierarchy.
[3] The Company determined that its valuation of these Notes Payable was classified within Level 2 of the fair value hierarchy.
[4] The Company determined that its valuation of these Mortgages Payable was classified within Level 3 of the fair value hierarchy.