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Share Options And Awards (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary Of Option Activity
Following is a summary of the option activity for the three years ended December 31, 2014:
 
Shares
Under
Option
 
Weighted
Average
Exercise
Price
Outstanding, January 1, 2012
4,607,703

 
$
28.09

Forfeited or expired
(40,390
)
 
27.12

Exercised
(481,611
)
 
20.70

Outstanding, December 31, 2012
4,085,702

 
28.98

Forfeited or expired
(79,108
)
 
32.61

Exercised
(462,848
)
 
26.95

Outstanding, December 31, 2013
3,543,746

 
29.16

Forfeited or expired
(307,413
)
 
39.73

Exercised
(339,210
)
 
22.98

Outstanding, December 31, 2014
2,897,123

 
$
28.76
Share Options Outstanding And Exercisable
The following table summarizes information about share options outstanding and exercisable at December 31, 2014:
Range of
Exercise Prices
 
Outstanding
 
Exercisable
 
Number
 
Weighted
Average
Remaining
Contractual
Life
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
(000’s)
 
Number
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value
(000’s)
$11.85 - $17.78  
 
618,556

 
4.2 years
 
$
11.85

 
 
 
618,556

 
$
11.85

 
4.2 years
 
 
$17.79 - $26.69  
 
801,760

 
5.8 years
 
$
23.78

 
 
 
584,698

 
$
23.64

 
5.7 years
 
 
$26.70 - $40.05  
 
1,015,468

 
2.2 years
 
$
34.51

 
 
 
1,015,468

 
$
34.51

 
2.2 years
 
 
$40.06 - $49.62  
 
461,339

 
1.9 years
 
$
47.46

 
 
 
461,339

 
$
47.46

 
1.9 years
 
 
Total
 
2,897,123

 
3.6 years
 
$
28.76

 
$
17,846

 
2,680,061

 
$
29.14

 
3.4 years
 
$
15,491
Fair Value Of Market-Based Share Awards Assumptions
The fair value of the market-based share awards was estimated on the date of grant using a Monte Carlo valuation model based on the following assumptions:
 
Year Ended December 31, 2014
 
Minimum
 
Maximum
Dividend yield
0.0
%
 
4.1
%
Expected volatility
14.8
%
 
25.3
%
Expected life (in years)
N/A

 
3

Risk-free interest rate
0.1
%
 
0.8
%
Summary Of The Status Of Unvested Restricted Shares
A summary of the status of unvested restricted shares for the year ended December 31, 2014 is as follows:
 
Unvested
Restricted
Share
Awards
 
Weighted
Average 
Grant
Date Fair 
Value
Outstanding, January 1, 2014
575,167

 
$
26.54

Granted:
 
 
 
Service-based awards
112,329

 
30.24

Market-based awards relative to FTSE NAREIT U.S. Shopping Center
Index
49,065

 
33.88

Market-based awards relative to three-year absolute TSR
49,065

 
27.63

Trust manager awards
29,043

 
31.00

Vested
(119,858
)
 
21.67

Forfeited
(1,006
)
 
28.11

Outstanding, December 31, 2014
693,805

 
$
28.76