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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Non-cash Investing and Financing Activities

Non-cash investing and financing activities are summarized as follows (in millions):

 

 

For the Year Ended December 31,

 

 

2016

 

 

2015

 

 

2014

 

Accounts payable related to construction in progress

$

13.3

 

 

$

31.6

 

 

$

25.7

 

Dividends declared

 

75.2

 

 

 

68.6

 

 

 

61.5

 

Mortgages assumed from acquisitions

 

 

 

 

33.7

 

 

 

293.3

 

Issuance of Operating Partnership Units ("OP Units")

 

 

 

 

 

 

 

18.3

 

Redemption of OP Units

 

 

 

 

18.3

 

 

 

 

Elimination of a previously held equity interest (Note 3)

 

 

 

 

1.4

 

 

 

2.5

 

Preferred equity interest and mezzanine loan applied to purchase

   price of acquired properties

 

 

 

 

 

 

 

51.8

 

Reclassification adjustment of foreign currency translation (Note 11)

 

 

 

 

 

 

 

21.8

 

Write-off of preferred share original issuance costs

 

 

 

 

 

 

 

1.9

 

 

Estimated Useful Lives of Assets

Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets as follows:

 

Buildings

Useful lives, 20 to 31.5 years

Building improvements and fixtures

Useful lives, ranging from 5 to 20 years

Tenant improvements

Shorter of economic life or lease terms

 

Schedule of Fee and Other Income from Continuing Operations

Fee and other income was composed of the following (in thousands):

 

 

For the Year Ended December 31,

 

 

2016

 

 

2015

 

 

2014

 

Management and other fee income

$

36,298

 

 

$

32,971

 

 

$

31,907

 

Ancillary and other property income

 

18,678

 

 

 

19,038

 

 

 

24,288

 

Lease termination fees

 

3,512

 

 

 

2,774

 

 

 

4,085

 

Other

 

80

 

 

 

565

 

 

 

621

 

Total fee and other income

$

58,568

 

 

$

55,348

 

 

$

60,901