2.2.0.25falsefalse11001 - Disclosure - Fair-Value of Financial Instrumentstruefalsefalse1falsefalsefalsefalse1/1/2011 - 3/31/2011
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<div style="text-align: left; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt; font-weight: bold;" class="_mt">10. Fair-Value of Financial Instruments</font></div>
<div style="text-align: left; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<div style="text-align: justify; line-height: 120%; text-indent: 18px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">The Company is required to disclose fair-value information about all financial instruments, whether or not recognized in the balance sheet, for which it is practicable to estimate fair-value. The Company's disclosures of estimated fair-value of financial instruments at </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">March 31, 2011</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> and </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">December 31, 2010</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> were determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair-value. The use of different market assumptions or estimation methods may have a material effect on the estimated fair-value amounts.</font></div>
<div style="text-align: left; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<div style="text-align: justify; line-height: 120%; text-indent: 24px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">The carrying amounts for cash and cash equivalents, restricted cash, accounts receivable, security deposits, accounts payable, accrued expenses and other liabilities approximate fair-value due to the short-term nature of these instruments.</font></div>
<div style="text-align: justify; line-height: 120%; text-indent: 18px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<div style="text-align: justify; line-height: 120%; text-indent: 18px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">The Company utilizes quoted market prices to estimate the fair-value of its fixed-rate and variable-rate debt, when available. If quoted market prices are not available, the Company calculates the fair-value of its mortgage notes payable and other fixed-rate debt based on a currently available market rate assuming the loans are outstanding through maturity and considering the collateral. In determining the current market rate for fixed-rate debt, a market credit spread is added to the quoted yields on federal government treasury securities with similar terms to debt. In determining the current market rate for variable-rate debt, a market credit spread is added to the current effective interest rate. The carrying value of interest rate swaps, as well as the underlying hedged liability, if applicable, are reflected at their fair-value (see the Assets and Liabilities Measured at Fair-Value section under Note 2). The Company relies on quotations from a third party to determine these fair-values.</font></div>
<div style="text-align: left; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<div style="text-align: justify; line-height: 120%; text-indent: 18px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">At </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">March 31, 2011</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> and </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">December 31, 2010</font><font style="font-family: inherit; font-size: 10pt;" class="_mt">, the aggregate fair-value and the carrying value of the Company's financial instruments were as follows (in thousands):</font></div>
<div style="text-align: left; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<div style="text-align: center; line-height: 120%; font-size: 10pt;">
<div style="line-height: normal; text-indent: 0px; padding-left: 0px; padding-top: 10px;">
<table style="text-align: left; width: 100%; border-collapse: collapse; font-family: Times New Roman; margin-left: auto; font-size: 10pt; margin-right: auto;" cellspacing="0" cellpadding="0">
<tr><td colspan="16"> </td></tr>
<tr><td width="41%"> </td>
<td width="1%"> </td>
<td width="12%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="12%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="12%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="12%"> </td>
<td width="1%"> </td></tr>
<tr><td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="border-bottom: #000000 1px solid; padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="7">
<div style="text-align: center; font-size: 8pt;"><font style="font-family: inherit; font-size: 8pt; font-weight: bold;" class="_mt">March 31, 2011</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="border-bottom: #000000 1px solid; padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="7">
<div style="text-align: center; font-size: 8pt;"><font style="font-family: inherit; font-size: 8pt; font-weight: bold;" class="_mt">December 31, 2010</font></div></td></tr>
<tr><td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="border-bottom: #000000 1px solid; padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;" colspan="3">
<div style="text-align: center; font-size: 8pt;"><font style="font-family: inherit; font-size: 8pt; font-weight: bold;" class="_mt">Fair-Value</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="border-bottom: #000000 1px solid; padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;" colspan="3">
<div style="text-align: center; font-size: 8pt;"><font style="font-family: inherit; font-size: 8pt; font-weight: bold;" class="_mt">Carrying Value</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="border-bottom: #000000 1px solid; padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;" colspan="3">
<div style="text-align: center; font-size: 8pt;"><font style="font-family: inherit; font-size: 8pt; font-weight: bold;" class="_mt">Fair-Value</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="border-bottom: #000000 1px solid; padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;" colspan="3">
<div style="text-align: center; font-size: 8pt;"><font style="font-family: inherit; font-size: 8pt; font-weight: bold;" class="_mt">Carrying Value</font></div></td></tr>
<tr><td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Mortgage notes payable(1)</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">$</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">702,351</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">$</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">629,640</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">$</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">729,561</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">$</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid; padding-top: 2px;">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">657,922</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom; border-top: #000000 1px solid;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td></tr>
<tr><td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Notes due 2026(2)</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">19,800</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">19,613</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">23,244</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">19,522</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td></tr>
<tr><td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Notes due 2030</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">214,320</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">180,000</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">209,128</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">180,000</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td></tr>
<tr><td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Notes due 2016(3)</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">396,520</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">397,461</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">—</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">—</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td></tr>
<tr><td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Notes due 2020(4)</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">264,275</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">247,620</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">262,950</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">247,571</font></div></td>
<td style="background-color: #cceeff; vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td></tr>
<tr><td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Unsecured line of credit</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">50,873</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">51,000</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">388,567</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">392,450</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td></tr>
<tr><td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Derivative instruments(5)</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(2,230</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">)</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(2,230</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">)</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(3,800</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">)</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(3,800</font></div></td>
<td style="padding-bottom: 2px; background-color: #cceeff; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">)</font></div></td></tr>
<tr><td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Investments(6)</font></div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">2,166</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">2,166</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">4,060</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; padding-right: 2px; vertical-align: bottom; padding-top: 2px;">
<div style="font-size: 10pt; overflow: hidden;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td>
<td style="padding-bottom: 2px; padding-left: 2px; vertical-align: bottom; padding-top: 2px;" colspan="2">
<div style="text-align: right; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">4,060</font></div></td>
<td style="vertical-align: bottom;">
<div style="text-align: left; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div></td></tr></table></div></div>
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">____________</font></div>
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<table style="width: 100%; font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr><td style="width: 24px;"> </td>
<td> </td></tr>
<tr><td style="padding-left: 0px; vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(1)</font></div></td>
<td style="vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Carrying value includes </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">$4.6 million</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> and </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">$5.6 million</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> of debt premium as of </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">March 31, 2011</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> and </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">December 31, 2010</font><font style="font-family: inherit; font-size: 10pt;" class="_mt">, respectively.</font></div></td></tr></table>
<div style="text-align: justify; line-height: 120%; padding-left: 24px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<table style="width: 100%; font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr><td style="width: 24px;"> </td>
<td> </td></tr>
<tr><td style="padding-left: 0px; vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(2)</font></div></td>
<td style="vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Carrying value includes </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">$187,000</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> and </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">$278,000</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> of debt discount as of </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">March 31, 2011</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> and </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">December 31, 2010</font><font style="font-family: inherit; font-size: 10pt;" class="_mt">, respectively.</font></div></td></tr></table>
<div style="text-align: justify; line-height: 120%; padding-left: 24px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<table style="width: 100%; font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr><td style="width: 24px;"> </td>
<td> </td></tr>
<tr><td style="padding-left: 0px; vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(3)</font></div></td>
<td style="vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Carrying value includes </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">$2.5 million</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> of debt discount as of </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">March 31, 2011</font><font style="font-family: inherit; font-size: 10pt;" class="_mt">.</font></div></td></tr></table>
<div style="text-align: justify; line-height: 120%; padding-left: 24px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<table style="width: 100%; font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr><td style="width: 24px;"> </td>
<td> </td></tr>
<tr><td style="padding-left: 0px; vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(4)</font></div></td>
<td style="vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">Carrying value includes </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">$2.4 million</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> of debt discount as of both </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">March 31, 2011</font><font style="font-family: inherit; font-size: 10pt;" class="_mt"> and </font><font style="font-family: inherit; color: #000000; font-size: 10pt; text-decoration: none;" class="_mt">December 31, 2010</font><font style="font-family: inherit; font-size: 10pt;" class="_mt">.</font></div></td></tr></table>
<div style="text-align: justify; line-height: 120%; padding-left: 24px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<table style="width: 100%; font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr><td style="width: 24px;"> </td>
<td> </td></tr>
<tr><td style="padding-left: 0px; vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(5)</font></div></td>
<td style="vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">The Company's derivative instruments are reflected in other assets and derivative instruments (liability account) on the accompanying consolidated balance sheets based on their respective balances (see Note 9).</font></div></td></tr></table>
<div style="text-align: justify; line-height: 120%; padding-left: 24px; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt"> </font> </div>
<table style="width: 100%; font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0">
<tr><td style="width: 24px;"> </td>
<td> </td></tr>
<tr><td style="padding-left: 0px; vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">(6)</font></div></td>
<td style="vertical-align: top;">
<div style="text-align: justify; line-height: 120%; font-size: 10pt;"><font style="font-family: inherit; font-size: 10pt;" class="_mt">The Company's investments are included in other assets on the accompanying consolidated balance sheets (see Investments section in Note 2).</font></div></td></tr></table> </div>10. Fair-Value of Financial Instruments
The Company is required to disclose fair-value information about all financial instruments, whether or notfalsefalsefalsefalsefalse | Otherus-types:textBlockItemTypestringThis item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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12Fair-Value of Financial InstrumentsUnKnownUnKnownUnKnownUnKnownfalsetrue