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DEBT (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Debt, Carrying Value $ 1,018,707 $ 1,042,959
Debt, Weighted Average Effective Interest Rate 3.70% 4.10%
Senior Interest in and Debt Owed to Securitization Trusts [Member]
   
Debt, Carrying Value 577,107 589,592
Mandatorily Redeemable Preferred Shares [Member]
   
Debt, Carrying Value 121,000 88,720
Subordinated Debt [Member]
   
Debt, Carrying Value 141,401  
Asset Related Debt [Member]
   
Debt, Carrying Value 763,203 [1] 761,948 [1]
Debt, Weighted Average Effective Interest Rate 2.90% [1] 3.20% [1]
Asset Related Debt [Member] | Senior Interest in and Debt Owed to Securitization Trusts [Member] | Due Within One Year [Member]
   
Outstanding Debt Balances, Current 0 [1] 0 [1]
Debt, Weighted Average Effective Interest Rate 0.00% [1] 0.00% [1]
Asset Related Debt [Member] | Senior Interest in and Debt Owed to Securitization Trusts [Member] | Due After One Year [Member]
   
Long Term Debt, Excluding Current Maturities 577,107 [1],[2] 589,592 [1],[2]
Debt, Weighted Average Effective Interest Rate 2.00% [1],[2] 2.10% [1],[2]
Asset Related Debt [Member] | Mandatorily Redeemable Preferred Shares [Member] | Due Within One Year [Member]
   
Outstanding Debt Balances, Current 3,700 [1],[3] 4,901 [1],[3]
Debt, Weighted Average Effective Interest Rate 5.00% [1],[3] 7.50% [1],[3]
Asset Related Debt [Member] | Mandatorily Redeemable Preferred Shares [Member] | Due After One Year [Member]
   
Long Term Debt, Excluding Current Maturities 117,300 [1],[3] 83,819 [1],[3]
Debt, Weighted Average Effective Interest Rate 5.30% [1],[3] 7.40% [1],[3]
Asset Related Debt [Member] | Bond Related Debt [Member] | Notes Payable and Other Debt [Member] | Due Within One Year [Member]
   
Outstanding Debt Balances, Current 0 [1],[4] 0 [1],[4]
Debt, Weighted Average Effective Interest Rate 0.00% [1],[4] 0.00% [1],[4]
Asset Related Debt [Member] | Bond Related Debt [Member] | Notes Payable and Other Debt [Member] | Due After One Year [Member]
   
Long Term Debt, Excluding Current Maturities 53,503 [1],[4] 57,729 [1],[4]
Debt, Weighted Average Effective Interest Rate 5.10% [1],[4] 5.00% [1],[4]
Asset Related Debt [Member] | Non Bond Related Debt [Member] | Notes Payable and Other Debt [Member] | Due Within One Year [Member]
   
Outstanding Debt Balances, Current 4,181 [1] 17,617 [1]
Debt, Weighted Average Effective Interest Rate 9.70% [1] 9.90% [1]
Asset Related Debt [Member] | Non Bond Related Debt [Member] | Notes Payable and Other Debt [Member] | Due After One Year [Member]
   
Long Term Debt, Excluding Current Maturities 7,412 [1] 8,290 [1]
Debt, Weighted Average Effective Interest Rate 9.80% [1] 9.80% [1]
Other Debt [Member]
   
Debt, Carrying Value 205,601 [1] 225,578 [1]
Debt, Weighted Average Effective Interest Rate 6.90% [1] 7.20% [1]
Other Debt [Member] | Notes Payable and Other Debt [Member] | Due Within One Year [Member]
   
Outstanding Debt Balances, Current 7,737 [1],[5] 10,444 [1],[5]
Debt, Weighted Average Effective Interest Rate 14.30% [1],[5] 13.50% [1],[5]
Other Debt [Member] | Notes Payable and Other Debt [Member] | Due After One Year [Member]
   
Long Term Debt, Excluding Current Maturities 56,463 [1] 20,634 [1]
Debt, Weighted Average Effective Interest Rate 5.00% [1] 6.40% [1]
Other Debt [Member] | Subordinated Debt [Member] | Due Within One Year [Member]
   
Outstanding Debt Balances, Current 727 [1],[6] 529 [1],[6]
Debt, Weighted Average Effective Interest Rate 8.10% [1],[6] 8.10% [1],[6]
Other Debt [Member] | Subordinated Debt [Member] | Due After One Year [Member]
   
Long Term Debt, Excluding Current Maturities 140,674 [1],[6] 193,971 [1],[6]
Debt, Weighted Average Effective Interest Rate 7.20% [1],[6] 6.90% [1],[6]
Debt Related to Consolidated Funds and Ventures [Member]
   
Debt, Carrying Value 49,903 [7] 55,433 [7]
Debt, Weighted Average Effective Interest Rate 2.70% [7] 3.50% [7]
Debt Related to Consolidated Funds and Ventures [Member] | Due Within One Year [Member]
   
Outstanding Debt Balances, Current 0 [7] 5,908 [7]
Debt, Weighted Average Effective Interest Rate 0.00% [7] 10.00% [7]
Debt Related to Consolidated Funds and Ventures [Member] | Due After One Year [Member]
   
Long Term Debt, Excluding Current Maturities 49,903 [7] 49,525 [7]
Debt, Weighted Average Effective Interest Rate 2.70% [7] 2.70% [7]
Asset Related Debt And Other Debt [Member]
   
Debt, Carrying Value $ 968,804 [1] $ 987,526 [1]
Debt, Weighted Average Effective Interest Rate 3.70% [1] 4.10% [1]
[1] Asset related debt is debt which finances interest-bearing assets and the interest expense from this debt is included in “Net interest income” on the consolidated statements of operations. Other debt is debt which does not finance interest-bearing assets and the interest expense from this debt is included in “Interest expense” under “Operating and other expenses” on the consolidated statements of operations.
[2] All but $2.5 million of this debt was assumed by the purchaser of our common shares in TEB on July 3, 2013, at the June 30, 2013 reported amount. See Note 18, “Subsequent Events” for more information.
[3] During the second quarter of 2013, the Company recognized the remaining unamortized issuance discounts ($2.3 million) previously recorded as a net discount against the debt balance in order to carry the debt at its liquidation amount at June 30, 2013. This debt was assumed at its liquidation amount by the purchaser of our common shares in TEB on July 3, 2013. See Note 18, “Subsequent Events” for more information. Included in mandatorily redeemable preferred shares were unamortized discounts of $2.7 million at December 31, 2012.
[4] Included in notes payable and other debt were unamortized discounts of $1.6 million and $1.7 million at June 30, 2013 and December 31, 2012, respectively. This debt will increase by $94.4 million in the third quarter of 2013 as a result of the sale of our common shares in TEB as certain bonds and interests in bonds that were transferred as part of this transaction did not achieve sale accounting and will be treated as a secured borrowing for accounting purposes. See Note 18, “Subsequent Events” for more information.
[5] This amount included $4.4 million of debt that has come due and remains payable; however, the Company has a forbearance agreement with the lender such that it is not pursuing any remedies.
[6] Included in the subordinate debt balance were $0.4 million of net discounts and effective interest rate payable (i.e. the difference between the current pay rate and the effective interest rate) and $7.1 million of net premiums and effective interest rate payable at June 30, 2013 and December 31, 2012, respectively.
[7] See Note 16, “Consolidated Funds and Ventures” for more information.