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Derivative and Other Fair Value Instruments (Tables)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Derivative and Other Fair Value Instruments (Tables) [Abstract]    
Derivative Instrument Table
 
Fair Value
Hedges (1)
 
Forward
Starting
Swaps (2)
Current Notional Balance
$
315,693

 
$
200,000

Lowest Possible Notional
$
315,693

 
$
200,000

Highest Possible Notional
$
317,694

 
$
200,000

Lowest Interest Rate
2.009
%
 
3.478
%
Highest Interest Rate
4.800
%
 
4.695
%
Earliest Maturity Date
2012

 
2023

Latest Maturity Date
2013

 
2023

 
Schedule of Location and Amount of Financial Instruments on Balanace Sheet
 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
 
 
 
 
Quoted Prices in
 
 
 
 
 
 
 
 
 
 
Active Markets for
 
Significant Other
 
Significant
 
 
Balance Sheet
 
 
 
Identical Assets/Liabilities
 
Observable Inputs
 
Unobservable Inputs
Description
 
Location
 
12/31/2011
 
(Level 1)
 
(Level 2)
 
(Level 3)
Assets
 
 
 
 
 
 
 
 
 
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
   Interest Rate Contracts:
 
 
 
 
 
 
 
 
 
      Fair Value Hedges
 
Other Assets
 
$
8,972

 
$

 
$
8,972

 
$

Supplemental Executive Retirement Plan
Other Assets
 
71,426

 
71,426

 

 

Available-for-Sale Investment Securities
Other Assets
 
1,550

 
1,550

 

 

Total
 
 
 
$
81,948

 
$
72,976

 
$
8,972

 
$

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
   Interest Rate Contracts:
 
 
 
 
 
 
 
 
 
      Forward Starting Swaps
Other Liabilities
 
$
32,278

 
$

 
$
32,278

 
$

Supplemental Executive Retirement Plan
Other Liabilities
 
71,426

 
71,426

 

 

Total
 
 
 
$
103,704

 
$
71,426

 
$
32,278

 
$

 
 
 
 
 
 
 
 
 
 
 
Redeemable Noncontrolling Interests –
 
 
 
 
 
 
 
 
 
   Operating Partnership/Redeemable
 
 
 
 
 
 
 
 
 
      Limited Partners
Mezzanine
 
$
416,404

 
$

 
$
416,404

 
$



 
 
 
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
 
 
 
 
Quoted Prices in
 
 
 
 
 
 
 
 
 
 
Active Markets for
 
Significant Other
 
Significant
 
 
Balance Sheet
 
 
 
Identical Assets/Liabilities
 
Observable Inputs
 
Unobservable Inputs
Description
 
Location
 
12/31/2010
 
(Level 1)
 
(Level 2)
 
(Level 3)
Assets
 
 
 
 
 
 
 
 
 
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
   Interest Rate Contracts:
 
 
 
 
 
 
 
 
 
      Fair Value Hedges
 
Other Assets
 
$
12,521

 
$

 
$
12,521

 
$

      Forward Starting Swaps
 
Other Assets
 
3,276

 

 
3,276

 

Supplemental Executive Retirement Plan
Other Assets
 
58,132

 
58,132

 

 

Available-for-Sale Investment Securities
Other Assets
 
1,194

 
1,194

 

 

Total
 
 
 
$
75,123

 
$
59,326

 
$
15,797

 
$

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
   Interest Rate Contracts:
 
 
 
 
 
 
 
 
 
      Forward Starting Swaps
Other Liabilities
 
$
37,756

 
$

 
$
37,756

 
$

      Development Cash Flow Hedges
Other Liabilities
 
1,322

 

 
1,322

 

Supplemental Executive Retirement Plan
Other Liabilities
 
58,132

 
58,132

 

 

Total
 
 
 
$
97,210

 
$
58,132

 
$
39,078

 
$

 
 
 
 
 
 
 
 
 
 
 
Redeemable Noncontrolling Interests –
 
 
 
 
 
 
 
 
 
   Operating Partnership/Redeemable
 
 
 
 
 
 
 
 
 
      Limited Partners
Mezzanine
 
383,540

 

 
383,540

 


 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]  
 
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
 
 
 
 
Quoted Prices in
 
 
 
 
 
 
 
 
 
 
Active Markets for
 
Significant Other
 
Significant
 
 
 
 
 
 
Identical Assets/Liabilities
 
Observable Inputs
 
Unobservable Inputs
 
 
Description
 
12/31/2010
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total Gains (Losses)
Assets
 
 
 
 
 
 
 
 
 
 
Long-lived assets
 
$
56,000

 
$

 
$

 
$
56,000

 
$
(45,380
)
Total
 
$
56,000

 
$

 
$

 
$
56,000

 
$
(45,380
)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
December 31, 2011
Type of Fair Value Hedge
 
Location of Gain/(Loss) Recognized in Income
on Derivative
 
Amount of Gain/(Loss) Recognized in Income
on Derivative
 
 
 
Income Statement Location of Hedged
Item Gain/(Loss)
 
Amount of Gain/(Loss)Recognized in Income
on Hedged Item
 
 
 
Hedged Item
 
 
Derivatives designated as hedging instruments:
 
 
 
 

 
 
 
 
 
 

Interest Rate Contracts:
 
 
 
 

 
 
 
 
 
 

Interest Rate Swaps
 
Interest expense
 
$
(3,549
)
 
Fixed rate debt
 
Interest expense
 
$
3,549

Total
 
 
 
$
(3,549
)
 
 
 
 
 
$
3,549


December 31, 2010
Type of Fair Value Hedge
 
Location of Gain/(Loss) Recognized in Income
on Derivative
 
Amount of Gain/(Loss) Recognized in Income
on Derivative
 
 
 
Income Statement Location of Hedged
Item Gain/(Loss)
 
Amount of Gain/(Loss)Recognized in Income
on Hedged Item
 
 
 
Hedged Item
 
 
Derivatives designated as hedging instruments:
 
 
 
 

 
 
 
 
 
 

Interest Rate Contracts:
 
 
 
 

 
 
 
 
 
 

Interest Rate Swaps
 
Interest expense
 
$
7,335

 
Fixed rate debt
 
Interest expense
 
$
(7,335
)
Total
 
 
 
$
7,335

 
 
 
 
 
$
(7,335
)

December 31, 2009
Type of Fair Value Hedge
 
Location of Gain/(Loss) Recognized in Income
on Derivative
 
Amount of Gain/(Loss) Recognized in Income
on Derivative
 
 
 
Income Statement Location of Hedged
Item Gain/(Loss)
 
Amount of Gain/(Loss)Recognized in Income
on Hedged Item
 
 
 
Hedged Item
 
 
Derivatives designated as hedging instruments:
 
 
 
 

 
 
 
 
 
 

Interest Rate Contracts:
 
 
 
 

 
 
 
 
 
 

Interest Rate Swaps
 
Interest expense
 
$
(1,167
)
 
Fixed rate debt
 
Interest expense
 
$
1,167

Total
 
 
 
$
(1,167
)
 
 
 
 
 
$
1,167

 
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
 
 
Effective Portion
 
Ineffective Portion
December 31, 2011
Type of Cash Flow Hedge
 
Amount of
Gain/(Loss) Recognized in OCI
on Derivative
 
Location of Gain/(Loss)
Reclassified from Accumulated OCI
into Income
 
Amount of Gain/(Loss)
Reclassified from Accumulated OCI
into Income
 
Location of
Gain/(Loss) Recognized in Income
on Derivative
 
Amount of Gain/(Loss)
Reclassified from Accumulated OCI
into Income
 
 
 
 
 
Derivatives designated as hedging instruments:
 
 

 
 
 
 

 
 
 
 

Interest Rate Contracts:
 
 

 
 
 
 

 
 
 
 

Forward Starting Swaps/Treasury Locks
 
$
(145,090
)
 
Interest expense
 
$
(4,343
)
 
Interest expense
 
$
(170
)
Development Interest Rate Swaps/Caps
 
1,322

 
Interest expense
 

 
N/A
 

Total
 
$
(143,768
)
 
 
 
$
(4,343
)
 
 
 
$
(170
)

 
 
Effective Portion
 
Ineffective Portion
December 31, 2010
Type of Cash Flow Hedge
 
Amount of
Gain/(Loss) Recognized in OCI
on Derivative
 
Location of Gain/(Loss)
Reclassified from Accumulated
OCI
into Income
 
Amount of Gain/(Loss)
Reclassified from Accumulated
OCI
into Income
 
Location of
Gain/(Loss) Recognized in Income
on Derivative
 
Amount of Gain/(Loss)
Reclassified from Accumulated
OCI
into Income
 
 
 
 
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
Interest Rate Contracts:
 
 
 
 
 
 
 
 
 
 
Forward Starting Swaps/Treasury Locks
 
$
(68,149
)
 
Interest expense
 
$
(3,338
)
 
N/A
 
$

Development Interest Rate Swaps/Caps
 
2,255

 
Interest expense
 

 
N/A
 

Total
 
$
(65,894
)
 
 
 
$
(3,338
)
 
 
 
$


 
 
Effective Portion
 
Ineffective Portion
December 31, 2009
Type of Cash Flow Hedge
 
Amount of
Gain/(Loss) Recognized in OCI
on Derivative
 
Location of Gain/(Loss)
Reclassified from Accumulated
OCI
into Income
 
Amount of Gain/(Loss)
Reclassified from Accumulated
OCI
into Income
 
Location of
Gain/(Loss) Recognized in Income
on Derivative
 
Amount of Gain/(Loss)
Reclassified from Accumulated
OCI
into Income
 
 
 
 
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
Interest Rate Contracts:
 
 
 
 
 
 
 
 
 
 
Forward Starting Swaps/Treasury Locks
 
$
34,432

 
Interest expense
 
$
(3,724
)
 
N/A
 
$

Development Interest Rate Swaps/Caps
 
3,244

 
Interest expense
 

 
N/A
 

Total
 
$
37,676

 
 
 
$
(3,724
)
 
 
 
$

 
Available-for-sale Securities [Table Text Block]
The following tables set forth the maturity, amortized cost, gross unrealized gains and losses, book/fair value and interest and other income of the various investment securities held as of December 31, 2011 and 2010, respectively (amounts in thousands):
 
 
 
 
Other Assets
 
 
December 31, 2011
Security
 
Maturity
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Book/
Fair Value
 
Interest and
Other Income
 
 
 
 
 
 
Available -for-Sale Investment Securities
 
N/A
 
$
675

 
$
875

 
$

 
$
1,550

 
$

Total
 
 
 
$
675

 
$
875

 
$

 
$
1,550

 
$


 
 
 
 
Other Assets
 
 
December 31, 2010
Security
 
Maturity
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Book/
Fair Value
 
Interest and
Other Income
 
 
 
 
 
 
Available-for-Sale
 
 
 
 

 
 

 
 

 
 

 
 

FDIC-insured certificates of deposit
 
Less than one year
 
$

 
$

 
$

 
$

 
$
61

Other
 
N/A
 
675

 
519

 

 
1,194

 

Total Available-for-Sale and Grand Total
 
$
675

 
$
519

 
$

 
$
1,194

 
$
61