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Fair Value Measurements (Assets Measured On Nonrecurring Basis) (Details) (USD $)
1 Months Ended 9 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Apr. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Dec. 31, 2011
Apr. 30, 2011
Subordinate Tax Increment Revenue Bonds [Member]
Dec. 31, 2011
Subordinate Tax Increment Revenue Bonds [Member]
Dec. 31, 2010
Subordinate Tax Increment Revenue Bonds [Member]
Apr. 30, 2011
Senior Tax Increment Revenue Bonds [Member]
Sep. 30, 2012
Impaired Property [Member]
Dec. 31, 2011
Impaired Property [Member]
Sep. 30, 2012
Impaired Property Held For Sale [Member]
Dec. 31, 2011
Impaired Property Held For Sale [Member]
Sep. 30, 2012
Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Dec. 31, 2011
Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Sep. 30, 2012
Quoted Prices In Active Markets For Identical Assets And Liabilities (Level1) [Member]
Dec. 31, 2011
Quoted Prices In Active Markets For Identical Assets And Liabilities (Level1) [Member]
Sep. 30, 2012
Significant Other Observable Inputs (Level 2) [Member]
Dec. 31, 2011
Significant Other Observable Inputs (Level 2) [Member]
Dec. 31, 2011
Significant Other Observable Inputs (Level 2) [Member]
Impaired Property [Member]
Sep. 30, 2012
Significant Other Observable Inputs (Level 2) [Member]
Impaired Property Held For Sale [Member]
Dec. 31, 2011
Significant Other Observable Inputs (Level 2) [Member]
Impaired Property Held For Sale [Member]
Sep. 30, 2012
Significant Other Observable Inputs (Level 2) [Member]
Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Sep. 30, 2012
Significant Unobservable Inputs (Level 3) [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Subordinate Tax Increment Revenue Bonds [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Subordinate Tax Increment Revenue Bonds [Member]
Minimum [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Subordinate Tax Increment Revenue Bonds [Member]
Maximum [Member]
Sep. 30, 2012
Significant Unobservable Inputs (Level 3) [Member]
Impaired Property [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Impaired Property [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Impaired Property [Member]
Minimum [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Impaired Property [Member]
Maximum [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Impaired Property Held For Sale [Member]
Sep. 30, 2012
Significant Unobservable Inputs (Level 3) [Member]
Impaired Property Held For Sale [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Minimum [Member]
Dec. 31, 2011
Significant Unobservable Inputs (Level 3) [Member]
Impaired Investment In Real Estate Joint Ventures And Partnerships [Member]
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]                                                                        
Property                 $ 13,906,000 [1] $ 98,596,000 [2]                 $ 389,000 [2]                 $ 13,906,000 [1] $ 98,207,000 [2]              
Property held for sale                     49,806,000 [3] 45,157,000 [4]               39,131,000 [3] 43,657,000 [4]                     1,500,000 [4] 10,675,000 [3]      
Investment in real estate joint ventures and partnerships                         24,231,000 [5] 6,311,000 [6]               24,231,000 [5]                       6,311,000 [6]    
Investments           26,723,000 [7]                                 26,505,000 26,505,000 26,723,000 [7]                      
Total   87,943,000   176,787,000                     0 0 63,362,000 44,046,000         24,581,000 132,741,000                        
Total Gains (Losses)   (14,306,000) [8]   (71,195,000) [9]   (18,737,000) [7],[9] (11,700,000)   (2,897,000) [1],[8] (36,907,000) [2],[9] (4,801,000) [3],[8] (13,799,000) [4],[9] (6,608,000) [5],[8] (1,752,000) [6],[9]                                            
Property, net   3,452,138,000 [10]   3,702,236,000 [10]         16,800,000 135,500,000                                                    
Property held for sale, net   73,404,000   73,241,000             53,800,000 57,000,000                                                
Cost to sell property                     800,000 2,000,000                                                
Assumption For Fair Value Discount Rate                                                           8.00% 13.00% 10.00%        
Investment in real estate joint ventures and partnerships, net   300,471,000   341,608,000                 30,800,000 8,100,000                                            
Assumption For Fair Value Market Capitalization Rate                                                                     7.00% 9.00%
Cash received on exchange of bonds 16,500,000 0 16,545,000                                                                  
Receipt Of Investments         57,700,000                                                              
Investment at fair value         10,700,000     51,300,000                                                        
Investment Owned, at Cost         $ 22,400,000                                                              
Assumption For Fair Value Expected Future Growth Rate                                                   1.00% 4.00%                  
Assumption For Fair Value Expected Inflation Rate                                                   1.00% 2.00%                  
[1] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $16.8 million was written down to a fair value of $13.9 million, resulting in a loss of $2.9 million, which was included in earnings for the nine month period. Management’s estimate of the fair value of these properties was determined using Level 3 inputs. See the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.
[2] In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount of $135.5 million was written down to a fair value of $98.6 million, resulting in a loss of $36.9 million, which was included in earnings for the twelve month period. Management’s estimate of the fair value of these properties was determined using the expected sales price of an executed agreement for the Level 2 input and using third party broker valuations, bona fide purchase offers, cash flow models and discount rates ranging from 8% to 13% for the Level 3 inputs.
[3] Property held for sale with a carrying amount of $53.8 million was written down to a fair value of $49.8 million less costs to sell of $0.8 million, resulting in a loss of $4.8 million, which was included in discontinued operations in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the nine month period. Management’s estimate of the fair value of these properties was determined using bona fide purchase offers for the Level 2 inputs, and see the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements table below.
[4] Property held for sale with a carrying amount of $57.0 million was written down to a fair value of $45.2 million less costs to sell of $2.0 million, resulting in a loss of $13.8 million, which was included in discontinued operations in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the twelve month period. Management’s estimate of the fair value of these properties was determined using the expected sales price of executed agreements for the Level 2 inputs and a cash flow model using a discount rate of 10% for the Level 3 input.
[5] Our net investment in real estate joint ventures and partnerships with a carrying amount of $30.8 million was written down to a fair value of $24.2 million, resulting in a loss of $6.6 million, which was included in earnings for the nine month period. Management’s estimate of the fair value of this investment was determined using the weighted average of the bona fide purchase offers received for the Level 2 inputs.
[6] Our net investment in real estate joint ventures and partnerships with a carrying amount of $8.1 million was written down to a fair value of $6.3 million, resulting in a loss of $1.8 million, which was included in earnings for the twelve month period. Management’s estimate of the fair value of these investments was determined using the life and other terms of the investment, our partner’s financial condition, cash flow models and capitalization rates ranging from 7% to 9% for the Level 3 inputs.
[7] A net credit loss on the exchange of bonds of $18.7 million was recognized upon the recall and replacement of our investment in tax increment revenue bonds by the Agency in April 2011. The exchange transaction resulted in us receiving approximately $16.5 million in cash proceeds and $57.7 million in new subordinated bonds replacing the face value of our $51.3 million of senior bonds and $22.4 million of subordinate bonds, which had been previously written down to a fair value of $10.7 million. The carrying value of the $57.7 million subordinated bonds received in the exchange were written down to their fair value of $26.7 million, of which a loss of $11.7 million was previously recognized in December 2010. The net credit loss resulted as management did not expect to recover the par value of the bonds based upon changes in terms of the bonds and future sales tax revenue projections of the development project through their maturity. Management’s estimates of the fair value of these investments were determined using third-party sales revenue projections, future growth rates ranging from 1% to 4% and inflation rates ranging from 1% to 2% for the Level 3 inputs.
[8] Total gains (losses) exclude impairments on disposed assets because they are no longer held by us.
[9] Total gains (losses) are reflected throughout 2011 and exclude impairments on disposed assets because they are no longer held by us.
[10] * Consolidated Variable Interest Entities’ Assets and Liabilities included in the above balances (See Note 17):