Business Segments (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Reporting, Reconciliation of Revenues, Operating Income and Assets

The following reconciliations are presented in thousands:

	Three Months Ended
	March 31,
		2017			2016
Revenues:
Real estate operations segment:
U.S.	$	524,147		$	511,157
Other Americas		15,089			13,935
Europe		18,231			16,475
Asia		14,643			13,730
Total real estate operations segment		572,110			555,297
Strategic capital segment:
U.S.		11,908			9,356
Other Americas		6,051			5,386
Europe		26,262			22,583
Asia		12,824			13,678
Total strategic capital segment		57,045			51,003
Total revenues	$	629,155		$	606,300
Segment net operating income:
Real estate operations segment:
U.S.	$	384,100		$	375,717
Other Americas		9,982			8,193
Europe		12,858			11,305
Asia		9,908			8,816
Total real estate operations segment		416,848			404,031
Strategic capital segment:
U.S.		1,939			1,710
Other Americas		3,145			3,136
Europe		16,390			15,620
Asia		3,772			5,244
Total strategic capital segment		25,246			25,710
Total segment net operating income		442,094			429,741
Reconciling items:
General and administrative expenses		53,617			50,543
Depreciation and amortization expenses		226,591			250,000
Operating income		161,886			129,198
Earnings from unconsolidated entities, net		48,605			58,311
Interest expense		(72,912	)		(80,812	)
Interest and other income, net		2,785			2,591
Gains on dispositions of investments in real estate, net		97,325			144,317
Foreign currency and derivative losses, net		(7,400	)		(14,211	)
Losses on early extinguishment of debt, net		-			(1,052	)
Earnings before income taxes	$	230,289		$	238,342

	March 31,		December 31,
		2017		2016
Assets:
Real estate operations segment:
U.S.	$	21,276,254	$	21,286,422
Other Americas		1,005,827		978,476
Europe		1,119,860		1,346,589
Asia		980,665		936,462
Total real estate operations segment		24,382,606		24,547,949
Strategic capital segment:
U.S.		17,772		18,090
Europe		43,781		47,635
Asia		1,161		1,301
Total strategic capital segment		62,714		67,026
Total segment assets		24,445,320		24,614,975
Reconciling items:
Investments in and advances to unconsolidated entities		4,305,881		4,230,429
Assets held for sale or contribution		439,743		322,139
Notes receivable backed by real estate		17,006		32,100
Cash and cash equivalents		395,829		807,316
Other assets		211,179		242,973
Total reconciling items		5,369,638		5,634,957
Total assets	$	29,814,958	$	30,249,932