Fair Value Disclosures

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures

12. Fair Value Measurements

Recurring Fair Value Disclosures. The following table presents information about our financial assets and liabilities measured at fair value as of December 31, 2012 and 2011 under the fair value hierarchy discussed in Footnote 2, “Summary of Significant Accounting Policies and Recent Accounting Pronouncements”:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

	December 31, 2012								December 31, 2011
(in millions)	Quoted  Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs  (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Quoted  Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs  Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets
Deferred compensation plan investments (1)	$	35.0	$	—	$	—	$	35.0	$	41.0	$	—	$	—	$	41.0
Derivative financial instruments	—		—		—		—		—		0.1		—		0.1
Liabilities
Derivative financial instruments	$	—	$	—	$	—	$	—	$	—	$	16.6	$	—	$	16.6

(1) Approximately $12.1 million of participant cash was withdrawn from our deferred compensation plan investments during the year ended December 31, 2012.

Financial Instrument Fair Value Disclosures. As of December 31, 2012 and 2011, the carrying values of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and distributions payable represent fair value because of the short-term nature of these instruments. The carrying value of restricted cash approximates its fair value based on the nature of our assessment of the ability to recover these amounts. Due to the short-term nature of these investments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments.

The following table presents the carrying and estimated fair value of our notes payable for the years ended December 31:

	December 31, 2012				December 31, 2011
(in millions)	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Fixed rate notes payable	$	2,297.8	$	2,518.1	$	2,186.6	$	2,304.4
Floating rate notes payable	212.7		203.4		245.5		233.6

Nonrecurring Fair Value Disclosures. There were no events during the years ended December 31, 2012 or 2011 which required fair value adjustments of our non-financial assets and non-financial liabilities.