Impairment (Tables)

6 Months Ended

Jun. 30, 2012

Asset Impairment Charges [Abstract]

Summary Of Impairment Charges

The following impairment charges were recorded on the following assets based on the difference between the carrying amount of the assets and the estimated fair value (see Note 19 for additional fair value information) (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Continuing operations:
Property marketed for sale or sold (1)	$	4,293	$	154	$	4,537	$	924
Investments in real estate joint ventures and partnerships (2)	—		—		6,608		—
Tax increment revenue bonds (4)	—		18,737		—		18,737
Total reported in continuing operations	4,293		18,891		11,145		19,661
Discontinued operations:
Property held for sale or sold (3)	758		2,434		3,929		2,889
Total impairment charges	5,051		21,325		15,074		22,550
Other financial statement captions impacted by impairment:
Equity in losses of real estate joint ventures and partnerships, net	19,889		—		19,889		110
Net impact of impairment charges	$	24,940	$	21,325	$	34,963	$	22,660

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(1) These charges resulted from changes in management’s plans for these properties, primarily the marketing of these properties for sale. Also included in this caption are impairments associated with dispositions that did not qualify to be reported in discontinued operations.

(2) Amounts reported in 2012 are based on third party offers to buy our interests in industrial real estate joint ventures.

(3) Amounts reported in 2012 are based on third party offers.

(4) During 2011, the tax increment revenue bonds were remarketed by the Agency. All of the outstanding bonds were recalled, and new bonds were issued. We recorded an $18.7 million net credit loss on the exchange of bonds associated with our investment in the subordinated tax increment revenue bonds.