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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Components of Current / Deferred Income Tax Benefit (Provision)
The components of income tax benefit (provision) for the years ended December 31, 2013, 2012 and 2011 are comprised of the following:
 
 
2013
 
2012
 
2011
Current:
 
 
 
 
 
Federal
$
231

 
$
(5,210
)
 
$
(622
)
State
(264
)
 
(253
)
 
(502
)
Foreign
—

 
(10
)
 
(41
)
Deferred:
 
 
 
 
 
Federal
—

 
—

 
(284
)
State
36

 
(49
)
 
(2
)
Foreign
—

 
—

 
(697
)
 
$
3

 
$
(5,522
)
 
$
(2,148
)
Deferred Tax Assets (Liabilities)
Deferred income taxes represent the tax effect of the temporary differences between the book and tax basis of assets and liabilities. Deferred tax assets (liabilities) include the following as of December 31, 2013 and 2012:
 
 
2013
 
2012
Impairment of Real Estate
$
5,185

 
$
5,519

Foreign Net Operating Loss Carryforward
1,312

 
854

Valuation Allowance
(5,357
)
 
(5,244
)
Other
696

 
617

Total Deferred Tax Assets, Net of Allowance
$
1,836

 
$
1,746

Straight-line Rent
(76
)
 
(91
)
Fixed Assets
(1,771
)
 
(1,666
)
Other
(122
)
 
(158
)
Total Deferred Tax Liabilities
$
(1,969
)
 
$
(1,915
)
Total Net Deferred Tax Liabilities
$
(133
)
 
$
(169
)
Income Tax Benefit (Provision) Pertaining to Income from Continuing Operations and Gain on Sale of Real Estate
The income tax benefit (provision) pertaining to income (loss) from continuing operations and gain on sale of real estate differs from the amounts computed by applying the applicable federal statutory rate as follows:
 
 
2013
 
2012
 
2011
Tax Benefit (Provision) at Federal Rate Related to Continuing Operations
$
286

 
$
557

 
$
(2,162
)
State Tax Provision, Net of Federal Benefit (Provision)
(236
)
 
(244
)
 
(521
)
Non-deductible Permanent Items, Net
21

 
32

 
(54
)
IRS Audit Adjustment and Accrued Interest
58

 
(5,523
)
 
—

Change in Valuation Allowance
(388
)
 
(166
)
 
1,853

Foreign Taxes, Net
—

 
(10
)
 
(96
)
Other
262

 
(168
)
 
78

Net Income Tax Benefit (Provision)
$
3

 
$
(5,522
)
 
$
(902
)
Preferred Distributions Per Depositary Share
For income tax purposes, distributions paid to common shareholders are classified as ordinary income, capital gain, return of capital or qualified dividends. We did not pay common share distributions for the years ended December 31, 2012 and 2011. For the year ended December 31, 2013, the distributions per common share were classified as follows:
Common Stock
2013
 
As a
Percentage
of
Distributions
Ordinary Income
$
0.3088

 
100.00
%
Long-term Capital Gains
—

 
0.00
%
Unrecaptured Section 1250 Gain
—

 
0.00
%
Return of Capital
—

 
0.00
%
Qualified Dividends
—

 
0.00
%
 
$
0.3088

 
100.00
%
For income tax purposes, distributions paid to preferred shareholders are classified as ordinary income, capital gain, return of capital or qualified dividends. For the years ended December 31, 2013, 2012 and 2011, the preferred distributions per depositary share were classified as follows:

Series J Preferred Stock
2013 (1)
 
As a
Percentage
of
Distributions (1)
 
2012
 
As a
Percentage
of
Distributions
 
2011
 
As a
Percentage
of
Distributions
Ordinary Income
$
0.5085

 
100.00
%
 
$
—

 
0.00
%
 
$
0.3130

 
23.02
%
Long-term Capital Gains
—

 
0.00
%
 
0.8025

 
35.42
%
 
—

 
0.00
%
Unrecaptured Section 1250 Gain
—

 
0.00
%
 
—

 
0.00
%
 
—

 
0.00
%
Return of Capital
—

 
0.00
%
 
1.4632

 
64.58
%
 
1.0402

 
76.52
%
Qualified Dividends
—

 
0.00
%
 
—

 
0.00
%
 
0.0062

 
0.46
%
 
$
0.5085

 
100.00
%
 
$
2.2657

 
100.00
%
 
$
1.3594

 
100.00
%
________________
(1)
The remaining 4,000,000 Depositary Shares of the Series J Preferred Stock were redeemed on April 11, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above.
 
Series J Preferred Stock – Depositary Shares Redeemed (2)
2012
 
As a
Percentage
of
Distributions
Ordinary Income
$
—

 
0.00
%
Long-term Capital Gains
0.7864

 
35.42
%
Unrecaptured Section 1250 Gain
—

 
0.00
%
Return of Capital
1.4339

 
64.58
%
Qualified Dividends
—

 
0.00
%
 
$
2.2203

 
100.00
%
________________
(2)
Schedule relates to the 2,000,000 Depositary Shares of the Series J Preferred Stock that were redeemed on December 21, 2012. The 2012 redemption had no impact on the 2011 allocation.
 
Series K Preferred Stock
2013 (3)
 
As a
Percentage
of
Distributions (3)
 
2012
 
As a
Percentage
of
Distributions
 
2011
 
As a
Percentage
of
Distributions
Ordinary Income
$
0.9969

 
100.00
%
 
$
—

 
0.00
%
 
$
0.3130

 
23.02
%
Long-term Capital Gains
—

 
0.00
%
 
0.8025

 
35.42
%
 
—

 
0.00
%
Unrecaptured Section 1250 Gain
—

 
0.00
%
 
—

 
0.00
%
 
—

 
0.00
%
Return of Capital
—

 
0.00
%
 
1.4632

 
64.58
%
 
1.0402

 
76.52
%
Qualified Dividends
—

 
0.00
%
 
—

 
0.00
%
 
0.0062

 
0.46
%
 
$
0.9969

 
100.00
%
 
$
2.2657

 
100.00
%
 
$
1.3594

 
100.00
%

________________
(3)
Schedule relates to the 2,000,000 Depositary Shares of the Series K Preferred Stock that were redeemed on July 18, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above.