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Share Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Share-based Compensation [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following tables summarize compensation information regarding the restricted shares, restricted units, share options and Employee Share Purchase Plan (“ESPP”) for the three years ended December 31, 2016, 2015 and 2014 (amounts in thousands):
 
Year Ended December 31, 2016
 
Compensation
Expense
 
Compensation
Capitalized
 
Restricted Units
In-Lieu of Bonus (1)
 
Compensation
Equity
 
Dividends
Incurred
Restricted shares (2)
$
13,539

 
$
1,477

 
$
—

 
$
15,016

 
$
6,494

Restricted units (2)
13,567

 
591

 
4,022

 
18,180

 
7,762

Share options
2,839

 
593

 
—

 
3,432

 
—

ESPP discount
585

 
65

 
—

 
650

 
—

Total
$
30,530

 
$
2,726

 
$
4,022

 
$
37,278

 
$
14,256


 
Year Ended December 31, 2015
 
Compensation
Expense
 
Compensation
Capitalized
 
Restricted Units
In-Lieu of Bonus (1)
 
Compensation
Equity
 
Dividends
Incurred
Restricted shares (2)
$
13,755

 
$
1,311

 
$
—

 
$
15,066

 
$
1,160

Restricted units (2)
17,311

 
538

 
3,654

 
21,503

 
1,619

Share options
2,746

 
1,010

 
—

 
3,756

 
—

ESPP discount
795

 
89

 
—

 
884

 
—

Total
$
34,607

 
$
2,948

 
$
3,654

 
$
41,209

 
$
2,779

 
Year Ended December 31, 2014
 
Compensation
Expense
 
Compensation
Capitalized
 
Compensation
Equity
 
Dividends
Incurred
Restricted shares
$
9,244

 
$
660

 
$
9,904

 
$
1,012

Restricted units
11,049

 
920

 
11,969

 
1,248

Share options
6,453

 
896

 
7,349

 
—

ESPP discount
797

 
62

 
859

 
—

Total
$
27,543

 
$
2,538

 
$
30,081

 
$
2,260


(1)
Beginning in 2015, the Company allows officers the ability to receive immediately vested restricted units (subject to the book-up provisions and two-year hold restriction) in-lieu of any percentage of their annual cash bonus.
(2)
Includes performance awards granted under the executive compensation program.
Award activity of the Share Incentive Plans
The table below summarizes the Award activity of the Share Incentive Plans for the three years ended December 31, 2016, 2015 and 2014:
 
Common
Shares Subject
to Options
 
Weighted
Average
Exercise Price
per Option
 
Restricted
Shares
 
Weighted
Average Fair
Value per
Restricted Share
 
Restricted
Units
 
Weighted
Average Fair
Value per
Restricted Unit
Balance at December 31, 2013
8,470,532

 

$43.67

 
500,234

 

$55.79

 
471,256

 

$55.67

Awards granted (1)
667,877

 

$56.72

 
176,457

 

$56.56

 
201,507

 

$53.82

Awards exercised/vested (2) (3) (4)
(2,086,380
)
 

$39.34

 
(175,344
)
 

$53.44

 
(60,294
)
 

$53.71

Awards forfeited
(19,022
)
 

$56.32

 
(6,735
)
 

$56.57

 
(667
)
 

$52.08

Awards expired
(2,387
)
 

$55.24

 
—

 
—

 
—

 
—

Conversion of restricted shares
to restricted units
—

 
—

 
(12,146
)
 
—

 
12,146

 
—

Balance at December 31, 2014
7,030,620

 

$46.16

 
482,466

 

$56.89

 
623,948

 

$53.38

Awards granted (1) (5)
171,150

 

$80.15

 
174,112

 

$79.65

 
337,505

 

$81.87

Awards exercised/vested (2) (3) (4)
(1,456,363
)
 

$42.64

 
(127,174
)
 

$60.21

 
(72,003
)
 

$57.12

Awards forfeited
(9,550
)
 

$64.53

 
(5,970
)
 

$62.11

 
(2,009
)
 

$64.39

Awards expired
(1,492
)
 

$39.86

 
—

 
—

 
—

 
—

Conversion of restricted shares
to restricted units
—

 
—

 
(1,284
)
 
—

 
1,284

 
—

Balance at December 31, 2015
5,734,365

 

$48.04

 
522,150

 

$63.67

 
888,725

 

$63.91

Awards granted (1) (5)
154,016

 

$64.99

 
154,296

 

$75.19

 
289,273

 

$81.05

Awards exercised/vested (2) (3) (4)
(815,044
)
 

$38.01

 
(217,805
)
 

$57.75

 
(374,217
)
 

$52.73

Awards forfeited
(10,512
)
 

$63.43

 
(6,607
)
 

$70.73

 
(1,524
)
 

$86.35

Awards expired
(710
)
 

$68.40

 
—

 
—

 
—

 
—

Special dividend adjustment (6)
960,986

 
N/A

 
—

 
—

 
—

 
—

Balance at December 31, 2016
6,023,101

 

$42.05

 
452,034

 

$70.35

 
802,257

 

$75.26

(1)
The weighted average grant date fair value for Options granted during the years ended December 31, 2016, 2015 and 2014 was $11.09 per share, $13.67 per share and $9.21 per share, respectively.
(2)
The aggregate intrinsic value of options exercised during the years ended December 31, 2016, 2015 and 2014 was $26.2 million, $52.9 million and $50.8 million, respectively. These values were calculated as the difference between the strike price of the underlying awards and the per share price at which each respective award was exercised.
(3)
The fair value of restricted shares vested during the years ended December 31, 2016, 2015 and 2014 was $15.6 million, $10.2 million and $10.2 million, respectively.
(4)
The fair value of restricted units vested during the years ended December 31, 2016, 2015 and 2014 was $27.2 million, $5.8 million and $3.4 million, respectively.    
(5)
Includes performance awards granted under the executive compensation program.
(6)
In addition to the regular quarterly dividends, the Company paid two special dividends to its shareholders and holders of OP Units of $11.00 per share/unit in the aggregate in 2016. Option holders were not entitled to these special dividends, but pursuant to the terms of the Share Incentive Plans are due equitable adjustments of additional options. The special dividend adjustment's weighted average exercise price per option is reflected in the activity for 2016 for the awards granted, awards exercised/vested, and awards forfeited and the balance at December 31, 2016.
Information regarding options outstanding and exercisable
The following table summarizes information regarding options outstanding and exercisable at December 31, 2016:
 
 
Options Outstanding (1)
 
Options Exercisable (2)
Range of Exercise Prices
 
Options
 
Weighted
Average
Remaining
Contractual Life in Years
 
Weighted
Average
Exercise Price
 
Options
 
Weighted
Average
Exercise Price
$19.67 to $24.93
 
892,111

 
2.10
 

$19.67

 
892,111

 

$19.67

$24.94 to $37.39
 
930,884

 
2.54
 

$29.42

 
930,884

 

$29.42

$37.40 to $43.62
 
2,412

 
3.83
 

$41.44

 
2,412

 

$41.44

$43.63 to $49.86
 
2,715,880

 
5.50
 

$46.59

 
2,515,401

 

$46.47

$49.87 to $56.09
 
1,114,654

 
5.16
 

$51.30

 
1,114,654

 

$51.30

$56.10 to $62.32
 
2,761

 
8.48
 

$60.80

 
2,761

 

$60.80

$62.33 to $68.55
 
364,399

 
8.57
 

$66.77

 
152,454

 
67.27

$19.67 to $68.55
 
6,023,101

 
4.66
 

$42.05

 
5,610,677

 

$40.91

Vested and expected to vest
as of December 31, 2016
 
6,003,870

 
4.55
 

$41.97

 
 

 
 

(1)
The aggregate intrinsic value of options outstanding that are vested and expected to vest as of December 31, 2016 is $135.3 million.
(2)
The aggregate intrinsic value and weighted average remaining contractual life in years of options exercisable as of December 31, 2016 is $132.0 million and 4.4 years, respectively.
Note: The aggregate intrinsic values in Notes (1) and (2) above were both calculated as the excess, if any, between the Company’s closing share price of $64.36 per share on December 31, 2016 and the strike price of the underlying awards.