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Fair Value Measurements (Tables)
 9 Months Ended
Oct. 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 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
 
October 31, 2013
 
Level 1
Level 2
Level 3
Total
 
(in thousands)
Interest rate caps
$
—

$
12

$
—

$
12

Interest rate swap agreements (liabilities)
—

(681
)
(105,890
)
(106,571
)
TRS (assets)
—

—

20,194

20,194

TRS (liabilities)
—

—

(25,055
)
(25,055
)
Fair value adjustment to the borrowings subject to TRS
—

—

6,860

6,860

Redeemable noncontrolling interest
—

—

(174,302
)
(174,302
)
Total
$
—

$
(669
)
$
(278,193
)
$
(278,862
)
 
 
 
 
 
 
January 31, 2013
 
(in thousands)
Interest rate caps
$
—

$
7

$
—

$
7

Interest rate swap agreements (assets)
—

241

—

241

Interest rate swap agreements (liabilities)
—

(3,016
)
(126,506
)
(129,522
)
TRS (assets)
—

—

21,066

21,066

TRS (liabilities)
—

—

(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
)
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 presents a reconciliation of all 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)
Nine Months Ended October 31, 2013
 
 
 
 
 
 
 
 
 
Balance, February 1, 2013
$
(239,136
)
 
$
(126,506
)
 
$
(5,136
)
$
9,950

$
4,814

 
$
(360,828
)
Loss attributable to redeemable noncontrolling interest
17,296

 
—

 
—

—

—

 
17,296

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

 
—

 
275

(3,090
)
(2,815
)
 
(2,815
)
Included in other comprehensive income
—

 
20,616

 
—

—

—

 
20,616

Included in additional paid-in capital
47,538

 
—

 
—

—

—

 
47,538

Balance, October 31, 2013
$
(174,302
)
 
$
(105,890
)
 
$
(4,861
)
$
6,860

$
1,999

 
$
(278,193
)
Nine Months Ended October 31, 2012
 
 
 
 
 
 
 
 
 
Balance, February 1, 2012
$
(229,149
)
 
$
(143,303
)
 
$
(15,013
)
$
9,180

$
(5,833
)
 
$
(378,285
)
Contribution from redeemable noncontrolling interest
(11,348
)
 
—

 
—

—

—

 
(11,348
)
Loss attributable to redeemable noncontrolling interest
6,316

 
—

 
—

—

—

 
6,316

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

 
—

 
9,805

518

10,323

 
10,323

Included in other comprehensive income
—

 
8,156

 
—

—

—

 
8,156

Included in additional paid-in capital
(6,609
)
 
—

 
—

—

—

 
(6,609
)
Balance, October 31, 2012
$
(240,790
)
 
$
(135,147
)
 
$
(5,208
)
$
9,698

$
4,490

 
$
(371,447
)
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 October 31, 2013:
 
Quantitative Information about Level 3 Fair Value Measurements
 
Fair Value October 31, 2013
Valuation
Technique
Unobservable
Input
Input Values
 
(in thousands)
 
 
 
Credit valuation adjustment of interest rate swap
$
8,187

Potential future exposure
Credit spread
4.25%
TRS
$
(4,861
)
Bond quote
Discount rate
N/A(1)
 
 
 
Capitalization rate
N/A(1)
Fair value adjustment to the borrowings subject to TRS
$
6,860

Bond quote
Discount rate
N/A(1)
 
 
 
Capitalization rate
N/A(1)
Redeemable noncontrolling interest
$
(174,302
)
Discounted cash flows
Discount rate
9.69%
(1)
The Company does not have access to certain significant unobservable inputs used by these third parties to determine these fair values.
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 (exclusive of the fair value of derivatives), bank revolving facility, senior and subordinated debt and nonrecourse mortgage debt and notes payable of land held for divestiture:
 
October 31, 2013
 
January 31, 2013
 
Carrying Value
Fair Value
 
Carrying Value
Fair Value
 
(in thousands)
Fixed Rate Debt
$
3,431,177

$
3,602,691

 
$
4,791,113

$
5,147,849

Variable Rate Debt
1,984,098

1,938,247

 
1,982,516

1,940,374

Total
$
5,415,275

$
5,540,938

 
$
6,773,629

$
7,088,223