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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation  
Fair value, measurement inputs, disclosure
below aggregate the fair values of these financial assets and liabilities by their levels in the fair value hierarchy at December 31, 2017 and 2016, respectively. 
 
(Amounts in thousands)
As of December 31, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
Marketable securities
$
182,752

 
$
182,752

 
$
—

 
$
—

Real estate fund investments
354,804

 
—

 
—

 
354,804

Deferred compensation plan assets ($11,545 included in restricted cash and $97,633 in other assets)
109,178

 
69,050

 
—

 
40,128

Interest rate swaps (included in other assets)
27,472

 
—

 
27,472

 
—

Total assets
$
674,206

 
$
251,802

 
$
27,472

 
$
394,932

 
 
 
 
 
 
 
 
Mandatorily redeemable instruments (included in other liabilities)
$
520,561

 
$
520,561

 
$
—

 
$
—

Interest rate swaps (included in other liabilities)
1,052

 
—

 
1,052

 
—

Total liabilities
$
521,613

 
$
520,561

 
$
1,052

 
$
—

(Amounts in thousands)
As of December 31, 2016
 
Total
 
Level 1
 
Level 2
 
Level 3
Marketable securities
$
203,704

 
$
203,704

 
$
—

 
$
—

Real estate fund investments
462,132

 
—

 
—

 
462,132

Deferred compensation plan assets ($4,187 included in restricted cash and $117,187 in other assets)
121,374

 
63,930

 
—

 
57,444

Interest rate swaps (included in other assets)
21,816

 
—

 
21,816

 
—

Total assets
$
809,026

 
$
267,634

 
$
21,816

 
$
519,576

 
 
 
 
 
 
 
 
Mandatorily redeemable instruments (included in other liabilities)
$
50,561

 
$
50,561

 
$
—

 
$
—

Interest rate swaps (included in other liabilities)
10,122

 
—

 
10,122

 
—

Total liabilities
$
60,683

 
$
50,561

 
$
10,122

 
$
—

 
12.
Fair Value Measurements –
Schedule of carrying amounts and fair values of financial instruments
The table below summarizes the carrying amounts and fair value of these financial instruments as of December 31, 2017 and 2016.

(Amounts in thousands)
As of December 31, 2017
 
As of December 31, 2016
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Cash equivalents
$
1,500,227

 
$
1,500,000

 
$
1,307,105

 
$
1,307,000

Debt:
 
 
 
 
 
 
 
Mortgages payable
$
8,203,839

 
$
8,194,000

 
$
8,206,680

 
$
8,163,000

Senior unsecured notes
850,000

 
878,000

 
850,000

 
899,000

Unsecured term loan
750,000

 
750,000

 
375,000

 
375,000

Unsecured revolving credit facilities
—

 
—

 
115,630

 
116,000

Total
$
9,803,839

(1) 
$
9,822,000

 
$
9,547,310

(1) 
$
9,553,000
Real estate fund investments  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation  
Fair value inputs quantitative information
Significant unobservable quantitative inputs in the table below were utilized in determining the fair value of these real estate fund investments at December 31, 2017 and 2016.    

 
Range
 
Weighted Average
(based on fair value of investments)
Unobservable Quantitative Input
December 31, 2017
 
December 31, 2016
 
December 31, 2017
 
December 31, 2016
Discount rates
2.0% to 14.9%
 
10.0% to 14.9%
 
11.9%
 
12.6%
Terminal capitalization rates
4.7% to 6.7%
 
4.3% to 5.8%
 
5.5%
 
5.3%
Summary of changes in level 3 plan assets
The table below summarizes the changes in the fair value of real estate fund investments that are classified as Level 3, for the years ended December 31, 2017 and 2016.
 
(Amounts in thousands)
For the Year Ended December 31,
 
2017
 
2016
Beginning balance
$
462,132

 
$
574,761

Dispositions/distributions
(91,606
)
 
(71,888
)
Net unrealized loss on held investments
(25,807
)
 
(41,162
)
Net realized gains on exited investments
36,078

 
14,761

Previously recorded unrealized gains on exited investments
(25,538
)
 
(14,254
)
Other, net
(455
)
 
(86
)
Ending balance
$
354,804

 
$
462,132
Deferred Compensation Plan Assets  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation  
Schedule of carrying amounts and fair values of financial instruments
The table below summarizes the changes in the fair value of deferred compensation plan assets that are classified as Level 3, for the years ended December 31, 2017 and 2016.
 
(Amounts in thousands)
For the Year Ended December 31,
 
2017
 
2016
Beginning balance
$
57,444

 
$
59,186

Purchases
5,786

 
5,355

Sales
(27,715
)
 
(9,354
)
Realized and unrealized gains
2,519

 
344

Other, net
2,094

 
1,913

Ending balance
$
40,128

 
$
57,444