Fair Value Of Instruments (Tables)

3 Months Ended

Mar. 31, 2012

Fair Value Of Instruments [Abstract]

Estimated Fair Value And Carrying Amounts

	As of March 31, 2012				As of December 31, 2011
	Estimated Fair Value		Carrying Value		Estimated Fair Value		Carrying Value
Global revolving credit facility (1)	$	678,554	$	678,554	$	275,106	$	275,106
Unsecured senior notes (2)(3)		1,540,111		1,441,319		1,502,271		1,441,072
Exchangeable senior debentures (2)		484,057		266,400		438,327		266,400
Mortgage loans (2)		939,756		875,075		1,007,615		947,132
Other secured loan		10,699		10,500		10,688		10,500
	$	3,653,177	$	3,271,848	$	3,234,007	$	2,940,210

(1) The carrying value of our global revolving credit facility approximates estimated fair value, due to the short-term nature of this instrument along with the variability of interest rates.

(2) Valuations for our unsecured senior notes, mortgage loans and other secured loan are determined based on the expected future payments discounted at risk-adjusted rates. The 2015 Notes, 2020 Notes, 2021 Notes and exchangeable senior debentures are valued based on quoted market prices.

(3) The carrying value of the 2015 Notes, 2020 Notes and 2021 Notes are net of discount of $8,681 and $8,928 in the aggregate as of March 31, 2012 and December 31, 2011, respectively.