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Derivative and Other Fair Value Instruments (Tables)

12 Months Ended

Dec. 31, 2010

Derivative and Other Fair Value Instruments (Tables) [Abstract]


				Forward			Development
	Fair Value			Starting			Cash Flow
	Hedges (1)			Swaps (2)			Hedges (3)
Current Notional Balance	$	315,693		$	950,000		$	87,422
Lowest Possible Notional	$	315,693		$	950,000		$	3,020
Highest Possible Notional	$	317,694		$	950,000		$	91,343
Lowest Interest Rate		2.009	%		3.478	%		4.059	%
Highest Interest Rate		4.800	%		4.695	%		4.059	%
Earliest Maturity Date		2012			2021			2011
Latest Maturity Date		2013			2023			2011


(1)		Fair Value Hedges — Converts outstanding fixed rate debt to a floating interest rate.

(2)		Forward Starting Swaps — Designed to partially fix the interest rate in advance of a planned future debt issuance. These swaps have mandatory counterparty terminations from 2012 through 2014, and $350.0 million, $400.0 million and $200.0 million are designated for 2011, 2012 and 2013 maturities, respectively.

(3)		Development Cash Flow Hedges — Converts outstanding floating rate debt to a fixed interest rate.

Schedule of Location of Derivatives on Balance Sheet


	Asset Derivatives			Liability Derivatives
	Balance Sheet			Balance Sheet
December 31, 2010	Location	Fair Value		Location	Fair Value
Derivatives designated as hedging instruments:
Interest Rate Contracts:
Fair Value Hedges	Other assets	$	12,521	Other liabilities	$	—
Forward Starting Swaps	Other assets		3,276	Other liabilities		(37,756	)
Development Cash Flow Hedges	Other assets		—	Other liabilities		(1,322	)

Total		$	15,797		$	(39,078	)


	Asset Derivatives			Liability Derivatives
	Balance Sheet			Balance Sheet
December 31, 2009	Location	Fair Value		Location	Fair Value
Derivatives designated as hedging instruments:
Interest Rate Contracts:
Fair Value Hedges	Other assets	$	5,186	Other liabilities	$	—
Forward Starting Swaps	Other assets		23,630	Other liabilities		—
Development Cash Flow Hedges	Other assets		—	Other liabilities		(3,577	)

Total		$	28,816		$	(3,577	)

Schedule of Location of Fair Value Hedges on Statement of Operations

Location of Gain/(Loss)

Amount of Gain/(Loss)

Income Statement

Amount of Gain/(Loss)

December 31, 2010

Recognized in Income

Location of Hedged

Recognized in Income

Type of Fair Value Hedge

on Derivative

Hedged Item

Item Gain/(Loss)

on Hedged Item

Derivatives designated as hedging instruments:

Interest Rate Contracts:

Interest Rate Swaps

Interest expense

7,335

Fixed rate debt

Interest expense

(7,335

)

Total

7,335

(7,335

)

Location of Gain/(Loss)

Amount of Gain/(Loss)

Income Statement

Amount of Gain/(Loss)

December 31, 2009

Recognized in Income

Location of Hedged

Recognized in Income

Type of Fair Value Hedge

on Derivative

Hedged Item

Item Gain/(Loss)

on Hedged Item

Derivatives designated as hedging instruments:

Interest Rate Contracts:

Interest Rate Swaps

Interest expense

(1,167

)

Fixed rate debt

Interest expense

1,167

Total

(1,167

)

1,167

Schedule of Location of cash flow Hedges on Statement of Operations

Effective Portion

Ineffective Portion

Amount of

Location of Gain/(Loss)

Amount of Gain/(Loss)

Location of

Amount of Gain/(Loss)

Gain/(Loss)

Reclassified from

Gain/(Loss)

Reclassified from

December 31, 2010

Recognized in OCI

Accumulated OCI

Recognized in Income

Accumulated OCI

Type of Cash Flow Hedge

on Derivative

into Income

on Derivative

into Income

Derivatives designated as hedging instruments:

Interest Rate Contracts:

Forward Starting Swaps/Treasury Locks

(68,149

)

Interest expense

(3,338

)

N/A

—

Development Interest Rate Swaps/Caps

2,255

Interest expense

—

N/A

—

Total

(65,894

)

(3,338

)

—

Effective Portion

Ineffective Portion

Amount of

Location of Gain/(Loss)

Amount of Gain/(Loss)

Location of

Amount of Gain/(Loss)

Gain/(Loss)

Reclassified from

Gain/(Loss)

Reclassified from

December 31, 2009

Recognized in OCI

Accumulated OCI

Recognized in Income

Accumulated OCI

Type of Cash Flow Hedge

on Derivative

into Income

on Derivative

into Income

Derivatives designated as hedging instruments:

Interest Rate Contracts:

Forward Starting Swaps/Treasury Locks

34,432

Interest expense

(3,724

)

N/A

—

Development Interest Rate Swaps/Caps

3,244

Interest expense

—

N/A

—

Total

37,676

(3,724

)

—

Schedule of Available for Sale and Held to Maturity Securities


		Other Assets
December 31, 2010		Amortized		Unrealized		Unrealized		Book/		Interest and
Security	Maturity	Cost		Gains		Losses		Fair Value		Other Income
Available-for-Sale
FDIC-insured certificates of deposit	Less than one year	$	—	$	—	$	—	$	—	$	61
Other	N/A		675		519		—		1,194		—


Total Available-for-Sale and Grand Total		$	675	$	519	$	—	$	1,194	$	61


		Other Assets
December 31, 2009		Amortized		Unrealized		Unrealized		Book/		Interest and
Security	Maturity	Cost		Gains		Losses		Fair Value		Other Income
Held-to-Maturity
FDIC-insured promissory notes	Less than one year	$	—	$	—	$	—	$	—	$	458


Total Held-to-Maturity			—		—		—		—		458

Available-for-Sale
FDIC-insured certificates of deposit	Less than one year		25,000		93		—		25,093		491
Other	Between one and five years or N/A		675		370		—		1,045		7,754


Total Available-for-Sale			25,675		463		—		26,138		8,245


Grand Total		$	25,675	$	463	$	—	$	26,138	$	8,703

Assets and liabilities measured on recurring basis


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets/Liabilities		Observable Inputs		Unobservable Inputs
Description	12/31/2010		(Level 1)		(Level 2)		(Level 3)
*Assets*
Derivatives	$	15,797	$	—	$	15,797	$	—
Supplemental Executive Retirement Plan		58,132		58,132		—		—
Available-for-Sale Investment Securities		1,194		1,194		—		—

Total	$	75,123	$	59,326	$	15,797	$	—


*Liabilities*
Derivatives	$	39,078	$	—	$	39,078	$	—
Supplemental Executive Retirement Plan		58,132		58,132		—		—

Total	$	97,210	$	58,132	$	39,078	$	—


Redeemable Noncontrolling Interests — Operating Partnership	$	383,540	$	—	$	383,540	$	—


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets/Liabilities		Observable Inputs		Unobservable Inputs
Description	12/31/2009		(Level 1)		(Level 2)		(Level 3)
*Assets*
Derivatives	$	28,816	$	—	$	28,816	$	—
Supplemental Executive Retirement Plan		61,090		61,090		—		—
Available-for-Sale Investment Securities		26,138		1,045		25,093		—

Total	$	116,044	$	62,135	$	53,909	$	—


*Liabilities*
Derivatives	$	3,577	$	—	$	3,577	$	—
Supplemental Executive Retirement Plan		61,090		61,090		—		—

Total	$	64,667	$	61,090	$	3,577	$	—


Redeemable Noncontrolling Interests — Operating Partnership	$	258,280	$	—	$	258,280	$	—

Assets and liabilities measured on nonrecurring basis


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets/Liabilities		Observable Inputs		Unobservable Inputs
Description	12/31/2010		(Level 1)		(Level 2)		(Level 3)		Total Gains (Losses)
*Assets*
Long-lived assets	$	56,000	$	—	$	—	$	56,000	$	(45,380	)

Total	$	56,000	$	—	$	—	$	56,000	$	(45,380	)


			Fair Value Measurements at Reporting Date Using
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets/Liabilities		Observable Inputs		Unobservable Inputs
Description	12/31/2009		(Level 1)		(Level 2)		(Level 3)		Total Gains (Losses)
*Assets*
Long-lived assets	$	18,876	$	—	$	—	$	18,876	$	(11,124	)

Total	$	18,876	$	—	$	—	$	18,876	$	(11,124	)

- Definition

This element represents the disclosure related to the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods.

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