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Share-Based and Long-Term Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of restricted shares and deferred incentive share unit activity
The weighted average period over which this expense is expected to be recognized is approximately two years.

 
Restricted Shares
Deferred Incentive Share Units
Stock Options
Restricted Stock Units
LTIP Units
 
# of Shares
Weighted Average Grant-Date Fair Value
# of Share Units
Weighted Average Grant-Date Fair Value
# of Options
Weighted Average Grant-Date Fair Value
# of Stock Units
Weighted Average Grant-Date Fair Value
# of LTIP Units
Weighted Average Grant-Date Fair Value
Balance at 12/31/12
281,233

$
8.34

17,760

$
25.61

—

$
—

—

$
—

—

$
—

Granted
—

—

—

—

1,850,000

4.17

462,616

17.56

214,443

9.79

Vested
(15,356
)
14.76

—

—

—

—

—

—

—

—

Forfeited
(238,486
)
7.15

(2,880
)
13.81

—

—

(12,829
)
14.00

—

—

Balance at 12/31/13
27,391

$
15.04

14,880

$
15.67

1,850,000

$
4.17

449,787

$
17.65

214,443

$
9.79

*N/M-Not meaningful
 
 
 
 
 
 
 
 
Summary of weighted-average assumptions used to estimate fair values of options granted
The following table presents the weighted-average assumptions used to estimate the fair values of the options granted in the periods presented:
 
Year Ended
 
December 31,
 
2013
 
2012
 
2011
Risk-free interest rate
1.01%
 
—

 
—

Expected volatility
31.0%
 
—

 
—

Expected life (in years)
6
 
—

 
—

Dividend Yield
4%
 
—

 
—

Weighted-average estimated fair value of options granted during the year
$4.17
 
—

 
—