XML 83 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Document Fiscal Year Focus 2013    
Other expense (income) [Abstract]      
Provision for impairment $ 6,000 $ 74,816 $ 15,883
Equity in income of investments in real estate partnerships (note 4) 31,718 23,807 9,643
Federal Income Tax Expense (Benefit), Continuing Operations 0 13,224 2,994
Parent Company [Member]
     
Revenues:      
Minimum rent 353,833 340,940 332,027
Percentage rent 3,583 3,323 2,989
Recoveries from tenants and other income 106,494 103,155 101,453
Total revenues 489,007 473,929 470,449
Management Transaction And Other Fees 25,097 26,511 33,980
Operating expenses:      
Depreciation and amortization 130,630 119,008 120,803
Operating and maintenance 71,018 66,687 68,501
General and administrative 61,234 61,700 56,117
Real estate taxes 53,726 52,911 52,039
Other expenses 8,079 7,187 6,516
Total operating expenses 324,687 307,493 303,976
Other expense (income) [Abstract]      
Interest Expense 108,966 112,129 123,645
Provision for impairment 6,000 20,316 12,466
Early extinguishment of debt 32 852 0
Net investment (income) loss from deferred compensation plan, including unrealized (gains) losses of $(2,231), $(888), and $567 in 2013, 2012, and 2011, respectively (note 13) (3,257) (2,057) 206
Total other expense (income) 111,741 131,240 136,317
Income before equity in income of investments in real estate partnerships 52,579 35,196 30,156
Equity in income of investments in real estate partnerships (note 4) 31,718 23,807 9,643
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest 84,297 59,003 39,799
Federal Income Tax Expense (Benefit), Continuing Operations 0 13,224 2,994
Income from continuing operations before tax 84,297 45,779 36,805
Discontinued operations, net (note 3):      
Operating income (loss) 7,332 (43,583) 10,637
Gain on sale of operating properties, net 57,953 21,855 5,942
Income (loss) from discontinued operations 65,285 (21,728) 16,579
Income before gain on sale of real estate 149,582 24,051 53,384
Gain on sale of real estate (1,703) (2,158) (2,404)
Net income 151,285 26,209 55,788
Noncontrolling interests:      
Net Income (Loss) Attributable to Noncontrolling Interest, Preferred Unit Holders (Deprecated 2013-01-31) 0 629 (3,725)
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable (276) (106) (103)
Noncontrolling Interest in Net Income (Loss) Limited Partnerships, Nonredeemable (1,205) (865) (590)
Income attributable to noncontrolling interests (1,481) (342) (4,418)
Net income attributable to the Company 149,804 25,867 51,370
Preferred stock dividends (21,062) (32,531) (19,675)
Net income (loss) attributable to common stockholders 128,294 (7,236) 31,080
Net income (loss) attributable to common stockholders 128,742 (6,664) 31,695
Income (loss) per common share - basic (note 14):      
Continuing operations (in dollars per share) $ 0.69 $ 0.16 $ 0.16
Discontinued operations (in dollars per share) $ 0.71 $ (0.24) $ 0.19
Net income attributable to common stockholders (in dollars per share) $ 1.40 $ (0.08) $ 0.35
Income (loss) per common share - diluted (note 14):      
Continuing operations (in dollars per share) $ 0.69 $ 0.16 $ 0.16
Discontinued operations (in dollars per share) $ 0.71 $ (0.24) $ 0.19
Net income (loss) attributable to common stockholders (in dollars per share) $ 1.40 $ (0.08) $ 0.35
Partnership Interest [Member]
     
Revenues:      
Minimum rent 353,833 340,940 332,027
Percentage rent 3,583 3,323 2,989
Recoveries from tenants and other income 106,494 103,155 101,453
Total revenues 489,007 473,929 470,449
Management Transaction And Other Fees 25,097 26,511 33,980
Operating expenses:      
Depreciation and amortization 130,630 119,008 120,803
Operating and maintenance 71,018 66,687 68,501
General and administrative 61,234 61,700 56,117
Real estate taxes 53,726 52,911 52,039
Other expenses 8,079 7,187 6,516
Total operating expenses 324,687 307,493 303,976
Other expense (income) [Abstract]      
Interest Expense 108,966 112,129 123,645
Provision for impairment 6,000 20,316 12,466
Early extinguishment of debt 32 852 0
Net investment (income) loss from deferred compensation plan, including unrealized (gains) losses of $(2,231), $(888), and $567 in 2013, 2012, and 2011, respectively (note 13) (3,257) (2,057) 206
Total other expense (income) 111,741 131,240 136,317
Income before equity in income of investments in real estate partnerships 52,579 35,196 30,156
Equity in income of investments in real estate partnerships (note 4) 31,718 23,807 9,643
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest 84,297 59,003 39,799
Federal Income Tax Expense (Benefit), Continuing Operations 0 13,224 2,994
Income from continuing operations before tax 84,297 45,779 36,805
Discontinued operations, net (note 3):      
Operating income (loss) 7,332 (43,583) 10,637
Gain on sale of operating properties, net 57,953 21,855 5,942
Income (loss) from discontinued operations 65,285 (21,728) 16,579
Income before gain on sale of real estate 149,582 24,051 53,384
Gain on sale of real estate (1,703) (2,158) (2,404)
Net income 151,285 26,209 55,788
Noncontrolling interests:      
Noncontrolling Interest in Net Income (Loss) Limited Partnerships, Nonredeemable (1,205) (865) (590)
Income attributable to noncontrolling interests (1,205) (865) (590)
Net income attributable to the Company 150,080 25,344 55,198
Preferred unit distributions (21,062) (31,902) (23,400)
Net (loss) income attributable to common unit holders 129,018 (6,558) 31,798
Net income (loss) attributable to common stockholders $ 128,570 $ (7,130) $ 31,183
Income (loss) per common share - basic (note 14):      
Continuing operations (in dollars per share) $ 0.69 $ 0.16 $ 0.16
Discontinued operations (in dollars per share) $ 0.71 $ (0.24) $ 0.19
Net income attributable to common unit holders (in dollars per share) $ 1.40 $ (0.08) $ 0.35
Income (loss) per common share - diluted (note 14):      
Continuing operations (in dollars per share) $ 0.69 $ 0.16 $ 0.16
Discontinued operations (in dollars per share) $ 0.71 $ (0.24) $ 0.19
Net Income (Loss), Per Outstanding Limited Partnership Unit, Diluted $ 1.40 $ (0.08) $ 0.35