Impairment Charges (Tables)

3 Months Ended

Mar. 31, 2012

Impairment Charges [Abstract]

Impairment charges on consolidated assets

	Three-Month Periods Ended March 31,
	2012		2011
Undeveloped land (A)	$	—	$	3.8
Assets marketed for sale (A)		13.5		—
Total continuing operations	$	13.5	$	3.8
Sold assets or assets held for sale		3.8		2.0
Total discontinued operations	$	3.8	$	2.0
Joint venture investments		0.6		—
Total impairment charges	$	17.9	$	5.8

(A) The impairment charges were triggered primarily due to the Company’s marketing of these assets for sale and management’s assessment as to the likelihood and timing of a potential transaction.

Impairment charges measured at fair value on a non-recurring basis

	Fair Value Measurement at March 31, 2012
	Level 1		Level 2		Level 3		Total		Total Losses
Long-lived assets — held and used and held for sale	$	—	$	—	$	28.7	$	28.7	$	17.3
Unconsolidated joint venture investments		—		—		4.7		4.7		0.6

Summary of significant unobservable inputs

	Quantitative Information about Level 3 Fair Value  Measurements
	Fair Value at 3/31/12		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impairment of consolidated assets	$	20.5	Indicative Bid	Indicative Bid	N/A (A)
Impairment of consolidated assets — Held for Sale		8.2	Contracted Price	Contracted Price	N/A (A)
Impairment of joint venture investments		4.7	Income Capitalization Approach	Market Capitalization Rate	8 %(B)

(A) These fair value measurements were developed by third party sources, subject to our corroboration for reasonableness.

(B) The fair value measurements also includes consideration of the fair market value of debt. These inputs are further described in the debt section of Note 8.