Interest and Other Investment (Loss) Income, Net

3 Months Ended

Mar. 31, 2012

Interest and Other Investment (Loss) Income, net [Abstract]

Interest and Other Investment Income, Net

15. Interest and Other Investment Income, Net

The following table sets forth the details of our interest and other investment income:

		For the Three Months
(Amounts in thousands)		Ended March 31,
		2012		2011
Dividends and interest on marketable securities		$	6,247	$	7,667
Mark-to-market of investments in our deferred compensation plan⁽¹⁾			4,127		4,952
Interest on mezzanine loans			2,851		2,644
Income from the mark-to-market of J.C. Penney derivative position			1,045		17,163
Mezzanine loans loss reversal and net gain on disposition			-		82,744
Other, net			1,411		1,938
		$	15,681	$	117,108
__________________________

(1)	This income is entirely offset by the expense resulting from the mark-to-market of the deferred compensation plan liability, which is included in "general and administrative" expense.

- Definition

Tabular disclosure of investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized.

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