Income Taxes and Distributions (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes and Distributions (Tables) [Abstract]

Cash distributions paid to common stockholders, for federal income tax purposes

Cash distributions paid to common stockholders, for federal income tax purposes, are as follows

			Year Ended December 31,
			2016		2015		2014
Per Share:
	Ordinary income	$	2.5067	$	1.9134	$	1.7861
	Qualified dividend		0.0047		0.0529		-
	Return of capital		0.0573		0.0503		0.8368
	Long-term capital gains		0.4593		0.9352		0.1638
	Unrecaptured section 1250 gains		0.4120		0.3482		0.3933
	Totals	$	3.4400	$	3.3000	$	3.1800

Schedule of provision (benefit) for income taxes

		Year Ended December 31,
		2016		2015		2014
Current	$	14,944	$	10,177	$	2,672
Deferred		(34,072)		(3,726)		(3,939)
Totals	$	(19,128)	$	6,451	$	(1,267)

Schedule of reconciliation of income tax expense

		Year Ended December 31,
		2016		2015		2014
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interests and income taxes	$	372,030	$	313,250	$	178,862
Increase / (decrease) in valuation allowance(1)		(2,128)		13,759		9,133
Tax at statutory rate on earnings not subject to federal income taxes		(399,571)		(319,832)		(189,070)
Foreign permanent depreciation		9,205		7,500		4,383
Other differences		1,336		(8,226)		(4,575)
Totals	$	(19,128)	$	6,451	$	(1,267)
(1) Excluding purchase price accounting.

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

		Year Ended December 31,
		2016		2015		2014
Investments and property, primarily differences in investment basis, depreciation and amortization, the basis of land assets and the treatment of interests and certain costs	$	(7,089)	$	(30,564)	$	(1,020)
Operating loss and interest deduction carryforwards		82,469		75,455		47,528
Expense accruals and other		15,978		6,259		26,191
Valuation allowance		(96,838)		(98,966)		(85,207)
Totals	$	(5,480)	$	(47,816)	$	(12,508)

Schedule of Valuation Allowance Rollforward

		Year Ended December 31,
		2016		2015		2014
Beginning balance	$	98,966	$	85,207	$	71,955
Additions:
Purchase price accounting		-		-		4,119
Expense		(2,128)		13,759		9,133
Ending balance	$	96,838	$	98,966	$	85,207