Operating Partnership

12 Months Ended

Dec. 31, 2012

Operating Partnership [Abstract]

Operating Partnership

OPERATING PARTNERSHIP

The Company presents the condensed consolidated financial statements of the Operating Partnership since substantially all of the Company’s business is conducted through it and, therefore, it reflects the financial position and performance of the Company’s Properties in absolute terms regardless of the ownership interests of the Company’s common shareholders and the noncontrolling interest in the Operating Partnership.  These statements are provided for informational purposes only and their disclosure is not required.

The condensed consolidated financial statement information for the Operating Partnership is presented as follows:

	December 31,
	2012		2011
ASSETS:
Net investment in real estate assets	$	6,328,982	$	6,005,670
Other assets	761,243		713,889
Total assets	$	7,090,225	$	6,719,559
LIABILITIES:
Mortgage and other indebtedness	$	4,745,683	$	4,489,355
Other liabilities	358,800		303,578
Total liabilities	5,104,483		4,792,933
Redeemable noncontrolling interests	465,596		456,105
Partners’ capital	1,456,650		1,466,241
Noncontrolling interests	63,496		4,280
Total partners’ capital and noncontrolling interests	1,520,146		1,470,521
Total liabilities, redeemable noncontrolling interests, partners’ capital and noncontrolling interests	$	7,090,225	$	6,719,559

	Year Ended December 31,
	2012			2011			2010
Total revenues	$	1,034,640		$	1,051,314		$	1,045,703
Depreciation and amortization	(265,856		)	(271,458		)	(280,575		)
Other operating expenses	(389,615		)	(421,137		)	(363,611		)
Income from operations	379,169			358,719			401,517
Interest and other income	3,955			2,583			3,869
Interest expense	(244,432		)	(267,072		)	(281,101		)
Gain on extinguishment of debt	265			1,029			—
Gain on investments	45,072			—			888
Gain on sales of real estate assets	2,286			59,396			2,887
Equity in earnings (losses) of unconsolidated affiliates	8,313			6,138			(188		)
Income tax benefit (provision)	(1,404		)	269			6,417
Income from continuing operations	193,224			161,062			134,289
Operating income (loss) of discontinued operations	(19,643		)	23,933			(36,456		)
Gain (loss) on discontinued operations	938			(1		)	379
Net income	174,519			184,994			98,212
Noncontrolling interest in earnings of other consolidated subsidiaries	(23,652		)	(25,217		)	(25,001		)
Net income attributable to partners of the operating partnership	$	150,867		$	159,777		$	73,211