XML 82 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Other expense (income) [Abstract]      
Provision for impairment $ 74,800 $ 15,900 $ 23,900
Equity in income (loss) of investments in real estate partnerships (note 4) 23,807 9,643 (12,884)
Income Tax Expense (Benefit), Continuing Operations (13,224) (2,994) 1,333
Parent Company [Member]
     
Revenues:      
Minimum rent 359,350 350,223 332,159
Percentage rent 3,327 2,996 2,540
Recoveries from tenants and other income 107,732 105,899 104,092
Management, transaction, and other fees 26,511 33,980 29,400
Total revenues 496,920 493,098 468,191
Operating expenses:      
Depreciation and amortization 126,808 128,963 118,398
Operating and maintenance 69,900 71,707 67,514
General and administrative 61,700 56,117 61,505
Real estate taxes 55,604 54,622 52,386
Other expenses 7,246 6,719 6,297
Total operating expenses 321,258 318,128 306,100
Other expense (income) [Abstract]      
Interest Expense 112,129 123,645 125,287
Provision for impairment 74,816 12,424 19,886
Early extinguishment of debt 852 0 4,243
Net investment (income) loss from deferred compensation plan, including unrealized (gains) losses of $(888), $567, and $(1,342) in 2012, 2011, and 2010, respectively (note 13) (2,057) 206 (1,982)
Total other expense (income) 185,740 136,275 147,434
(Loss) income before equity in income (loss) of investments in real estate partnerships (10,078) 38,695 14,657
Equity in income (loss) of investments in real estate partnerships (note 4) 23,807 9,643 (12,884)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest 13,729 48,338 1,773
Income Tax Expense (Benefit), Continuing Operations (13,224) (2,994) 1,333
Income from continuing operations before tax 505 45,344 3,106
Discontinued operations, net (note 3):      
Operating income 1,691 2,098 1,325
Gain on sale of operating properties, net 21,855 5,942 7,577
Income from discontinued operations 23,546 8,040 8,902
Income before gain on sale of real estate 24,051 53,384 12,008
Gain on sale of real estate (2,158) (2,404) (993)
Net income 26,209 55,788 13,001
Noncontrolling interests:      
Preferred units 629 (3,725) (3,725)
Exchangeable operating partnership units (106) (103) (84)
Limited partners’ interests in consolidated partnerships (865) (590) (376)
Income attributable to noncontrolling interests (342) (4,418) (4,185)
Net income attributable to the Company 25,867 51,370 8,816
Preferred stock dividends (32,531) (19,675) (19,675)
Net (loss) income attributable to common stockholders (6,664) 31,695 (10,859)
(Loss) income per common share - basic (note 14):      
Continuing operations (in dollars per share) $ (0.34) $ 0.26 $ (0.25)
Discontinued operations (in dollars per share) $ 0.26 $ 0.09 $ 0.11
Net income attributable to common stockholders (in dollars per share) $ (0.08) $ 0.35 $ (0.14)
(Loss) income per common share - diluted (note 14):      
Continuing operations (in dollars per share) $ (0.34) $ 0.26 $ (0.25)
Discontinued operations (in dollars per share) $ 0.26 $ 0.09 $ 0.11
Net income (loss) attributable to common stockholders (in dollars per share) $ (0.08) $ 0.35 $ (0.14)
Partnership Interest [Member]
     
Revenues:      
Minimum rent 359,350 350,223 332,159
Percentage rent 3,327 2,996 2,540
Recoveries from tenants and other income 107,732 105,899 104,092
Management, transaction, and other fees 26,511 33,980 29,400
Total revenues 496,920 493,098 468,191
Operating expenses:      
Depreciation and amortization 126,808 128,963 118,398
Operating and maintenance 69,900 71,707 67,514
General and administrative 61,700 56,117 61,505
Real estate taxes 55,604 54,622 52,386
Other expenses 7,246 6,719 6,297
Total operating expenses 321,258 318,128 306,100
Other expense (income) [Abstract]      
Interest Expense 112,129 123,645 125,287
Provision for impairment 74,816 12,424 19,886
Early extinguishment of debt 852 0 4,243
Net investment (income) loss from deferred compensation plan, including unrealized (gains) losses of $(888), $567, and $(1,342) in 2012, 2011, and 2010, respectively (note 13) (2,057) 206 (1,982)
Total other expense (income) 185,740 136,275 147,434
(Loss) income before equity in income (loss) of investments in real estate partnerships (10,078) 38,695 14,657
Equity in income (loss) of investments in real estate partnerships (note 4) 23,807 9,643 (12,884)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest 13,729 48,338 1,773
Income Tax Expense (Benefit), Continuing Operations (13,224) (2,994) 1,333
Income from continuing operations before tax 505 45,344 3,106
Discontinued operations, net (note 3):      
Operating income 1,691 2,098 1,325
Gain on sale of operating properties, net 21,855 5,942 7,577
Income from discontinued operations 23,546 8,040 8,902
Income before gain on sale of real estate 24,051 53,384 12,008
Gain on sale of real estate (2,158) (2,404) (993)
Net income 26,209 55,788 13,001
Noncontrolling interests:      
Limited partners’ interests in consolidated partnerships (865) (590) (376)
Income attributable to noncontrolling interests (865) (590) (376)
Net income attributable to the Company 25,344 55,198 12,625
Preferred unit distributions (31,902) (23,400) (23,400)
Net (loss) income attributable to common unit holders $ (6,558) $ 31,798 $ (10,775)
(Loss) income per common share - basic (note 14):      
Continuing operations (in dollars per share) (0.34) 0.26 (0.25)
Discontinued operations (in dollars per share) 0.26 0.09 0.11
Net income attributable to common unit holders (in dollars per share) (0.08) 0.35 (0.14)
(Loss) income per common share - diluted (note 14):      
Continuing operations (in dollars per share) (0.34) 0.26 (0.25)
Discontinued operations (in dollars per share) 0.26 0.09 0.11
Net Income (Loss), Per Outstanding Limited Partnership Unit, Diluted (0.08) 0.35 (0.14)