Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of tax treatment of distributions per common share

During the years ended December 31, 2012, 2011 and 2010, our tax treatment of distributions per common share was as follows:

	2012		2011		2010
Tax treatment of distributions:
Ordinary income	$	2.23124	$	2.28131	$	1.99928
Long-term capital gain	0.18884		0.01869		0.07644
Unrecaptured Section 1250 gain	0.05992		—		0.06428
Distribution reported for 1099-DIV purposes	$	2.48000	$	2.30000	$	2.14000

Schedule of provision (benefit) for income taxes

Our consolidated (benefit) provision for income taxes for the years ended December 31, 2012, 2011 and 2010 was as follows:

	2012			2011			2010
	(In thousands)
Current	$	1,208		$	(4,080	)	$	2,459
Deferred	(7,490		)	(26,580		)	2,742
Total	$	(6,282	)	$	(30,660	)	$	5,201

Schedule of reconciliation of income tax expense

A reconciliation of income tax expense, which is computed by applying the federal corporate tax rate for the years ended December 31, 2012, 2011 and 2010, to the income tax benefit is as follows:

	2012			2011			2010
	(In thousands)
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interest and income taxes	$	104,392		$	115,953		$	78,381
State income taxes, net of federal benefit	(842		)	(2,364		)	700
Increase in valuation allowance	33,072			9,408			5,705
Increase (decrease) in ASC 740 income tax liability	656			(4,084		)	2,420
Tax at statutory rate on earnings not subject to federal income taxes	(143,400		)	(151,264		)	(82,208		)
Other differences	(160		)	1,691			203
Income tax (benefit) expense	$	(6,282	)	$	(30,660	)	$	5,201

Summary of tax effects of temporary differences and carryforwards included in the net deferred tax liabilities

The tax effects of temporary differences and carryforwards included in the net deferred tax liabilities at December 31, 2012, 2011 and 2010 are summarized as follows:

	2012			2011			2010
	(In thousands)
Property, primarily differences in depreciation and amortization, the tax basis of land assets and the treatment of interests and certain costs	$	(310,756	)	$	(332,111	)	$	(287,165	)
Operating loss and interest deduction carryforwards	366,590			343,843			103,733
Expense accruals and other	13,984			11,511			3,093
Valuation allowance	(326,837		)	(281,954		)	(60,994		)
Net deferred tax liabilities(1)	$	(257,019	)	$	(258,711	)	$	(241,333	)

(1) 2012 and 2011 includes approximately $2.7 million and $2.0 million, respectively, of deferred tax assets included in other assets on our Consolidated Balance Sheets.

Summary of activity related to unrecognized tax benefits

The following table summarizes the activity related to our unrecognized tax benefits:

	2012			2011
	(In thousands)
Balance as of January 1	$	19,583		$	21,883
Additions to tax positions related to the current year	3,489			3,752
Additions to tax positions related to prior years	59			490
Subtractions to tax positions related to prior years	(968		)	(850		)
Subtractions to tax positions related to settlements	(47		)	—
Subtractions to tax positions as a result of the lapse of the statute of limitations	(2,650		)	(5,692		)
Balance as of December 31	$	19,466		$	19,583