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Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2013
Fair Value Disclosures [Abstract]  
Company's financial assets and liabilities and redeemable noncontrolling interest measured on a recurring basis
The following table presents information about the Company’s financial assets and liabilities and redeemable noncontrolling interest that were measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 
Fair Value Measurements
 
January 31, 2013
  
Level 1
Level 2
Level 3
Total
 
(in thousands)
Interest rate caps
$
—

$
7

$
—

$
7

Interest rate swap agreements (positive fair value)
—

241

—

241

Interest rate swap agreements (negative fair value)
—

(3,016
)
(126,506
)
(129,522
)
TRS (positive fair value)
—

—

21,066

21,066

TRS (negative fair value)
—

—

(26,202
)
(26,202
)
Fair value adjustment to the borrowings subject to TRS
—

—

9,950

9,950

Redeemable noncontrolling interest
—

—

(239,136
)
(239,136
)
Total
$
—

$
(2,768
)
$
(360,828
)
$
(363,596
)
 
 
 
 
 
 
January 31, 2012
  
Level 1
Level 2
Level 3
Total
 
(in thousands)
Interest rate caps
$
—

$
13

$
—

$
13

Interest rate swap agreements (positive fair value)
—

1,083

—

1,083

Interest rate swap agreements (negative fair value)
—

(5,396
)
(143,303
)
(148,699
)
TRS (positive fair value)
—

—

10,308

10,308

TRS (negative fair value)
—

—

(25,321
)
(25,321
)
Fair value adjustment to the borrowings subject to TRS
—

—

9,180

9,180

Redeemable noncontrolling interest
—

—

(229,149
)
(229,149
)
Total
$
—

$
(4,300
)
$
(378,285
)
$
(382,585
)
Reconciliation of financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis using significant unobservable inputs
The following table below presents a reconciliation of financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
 
Fair Value Measurements
  
Redeemable
Noncontrolling
Interest
 
Interest Rate
Swaps
 
Net
TRS
Fair value
adjustment
to the borrowings
subject to TRS
Total
TRS
Related
 
Total
 
(in thousands)
Balance, February 1, 2011
$
(226,829
)
 
$
(102,387
)
 
$
(30,034
)
$
21,938

$
(8,096
)
 
$
(337,312
)
Loss attributable to redeemable noncontrolling interest
4,567

 
—

 
—

—

—

 
4,567

Total realized and unrealized gains (losses):
 
 
 
 
 
 
 
 
 
Included in earnings
—

 
—

 
14,118

(11,855
)
2,263

 
2,263

Included in other comprehensive income
—

 
(40,916
)
 
—

—

—

 
(40,916
)
Included in additional paid-in capital
(6,887
)
 
—

 
—

—

—

 
(6,887
)
Settlement
—

 
—

 
903

(903
)
—

 
—

Balance, January 31, 2012
$
(229,149
)
 
$
(143,303
)
 
$
(15,013
)
$
9,180

$
(5,833
)
 
$
(378,285
)
Transfers in
—

 
—

 
(2,125
)
—

(2,125
)
 
(2,125
)
Contribution from redeemable noncontrolling interest
(11,348
)
 
—

 
—

—

—

 
(11,348
)
Loss attributable to redeemable noncontrolling interest
9,785

 
—

 
—

—

—

 
9,785

Total realized and unrealized gains (losses):
 
 
 
 
 
 
 
 
 
Included in earnings
—

 
—

 
11,798

770

12,568

 
12,568

Included in noncontrolling interest
—

 
—

 
204

—

204

 
204

Included in other comprehensive income
—

 
16,797

 
—

—

—

 
16,797

Included in additional paid-in capital
(8,424
)
 
—

 
—

—

—

 
(8,424
)
Balance, January 31, 2013
$
(239,136
)
 
$
(126,506
)
 
$
(5,136
)
$
9,950

$
4,814

 
$
(360,828
)
Significant unobservable inputs used to estimate fair value of financial instruments
The following table presents quantitative information about the significant unobservable inputs used to estimate the fair value of financial instruments measured on a recurring basis as of January 31, 2013.
 
Quantitative Information about Level 3 Fair Value Measurements
 
Fair Value January 31, 2013
Valuation
Technique
Unobservable
Input
Range of
Input Values
 
(in thousands)
 
 
 
Credit valuation adjustment of interest rate swap
$
11,925

Potential future exposure
Credit spreads
1.60(1) - 4.25%
TRS
$
(5,136
)
Third party bond pricing
Bond quote
84.41 - 108.24(1)
Fair value adjustment to the borrowings subject to TRS
$
9,950

Third party bond pricing
Bond quote
84.41 - 100.23(1)
Redeemable noncontrolling interest
$
(239,136
)
Discounted cash flows
Discount rate
9.3%
(1)
This fair value measurement was developed by third party service providers, subject to the Company’s corroboration for reasonableness.
Schedule of fair value of nonrecourse mortgage debt and notes payable, bank revolving credit facility and senior and subordinated debt
The following table summarizes the fair value of nonrecourse mortgage debt and notes payable, bank revolving facility, senior and subordinated debt and nonrecourse mortgage debt and notes payable of land held for divestiture:
 
January 31, 2013
 
January 31, 2012
 
Carrying Value
Fair Value
 
Carrying Value
Fair Value
 
(in thousands)
Fixed Rate Debt
$
4,791,113

$
5,147,849

 
$
4,458,214

$
4,719,636

Variable Rate Debt
1,982,516

2,047,369

 
2,239,838

2,341,862

Total
$
6,773,629

$
7,195,218

 
$
6,698,052

$
7,061,498