Non-Controlling Interests, Preferred Shares, Common Shares and Common Shares in Treasury (Tables)

12 Months Ended

Dec. 31, 2012

Non-Controlling Interests

Non-controlling interests consist of the following (in millions):

	December 31,
	2012		2011
Consolidated joint venture interests primarily outside the United States	$	13.8	$	21.6
Shopping centers and development parcels in various states		3.1		3.2
Operating partnership units		7.4		7.4
	$	24.3	$	32.2

Preferred Shares Outstanding

The Company’s preferred shares outstanding at December 31 are as follows (in thousands):

	December 31,
	2012		2011
Class H — 7.375% cumulative redeemable preferred shares, without par value, $500 liquidation value; 750,000 shares authorized; 410,000 shares issued and outstanding at December 31, 2012 and 2011	$	205,000	$	205,000
Class I — 7.5% cumulative redeemable preferred shares, without par value, $500 liquidation value; 750,000 shares authorized; 340,000 shares issued and outstanding at December 31, 2011		—		170,000
Class J — 6.5% cumulative redeemable preferred shares, without par value, $500 liquidation value; 750,000 shares authorized; 400,000 shares issued and outstanding at December 31, 2012		200,000		—
	$	405,000	$	375,000

Common Shares Through Open Market Sales

The Company issued common shares, including through the use of its continuous equity programs, for the years ended December 31, 2012, 2011 and 2010, as follows (amounts in millions, except per share):

	Number of Shares Sold		Average Price Per Share		Net Proceeds
2012		36.5	$	13.98	$	493.2
2011		9.5	$	13.71	$	129.7
2010		53.0	$	8.33	$	441.3

Effect of Company's Equity Derivative Instruments on Net Income (Loss)

The effect of the Company’s equity derivative instruments on net loss is as follows (in millions):

Derivatives Not Designated as Hedging Instruments		Year Ended December 31,
	Income Statement Location	2011		2010
Warrants	Gain (loss) on equity derivative instruments	$	21.9	$	(40.1	)

Fair Value Hierarchy of Valuation Techniques Used by Company

The following table presents information about the Company’s equity derivative instrument (in millions) that was a liability at December 31, 2010, measured at fair value on a recurring basis as of December 31, 2010, and indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions).

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total
December 31, 2010
Warrants	$	—	$	—	$	96.2	$	96.2

Reconciliation of Beginning and Ending Balances of Equity Derivative Instruments

The table below presents a reconciliation of the beginning and ending balances of the equity derivative instruments that were included in Other Liabilities at December 31, 2010, having fair value measurements based on significant unobservable inputs (Level 3) (in millions):

	Equity Derivative Instruments— Liability
Balance of Level 3 at December 31, 2010	$	96.2
Unrealized gain		(21.9	)
Transfer out of liability to paid-in capital		(74.3	)
Balance of Level 3 at December 31, 2011	$	—