22. Income Taxes:

For income tax purposes, distributions paid to common stockholders consist of ordinary income, capital gains, unrecaptured Section 1250 gain and return of capital or a combination thereof. The following table details the components of the distributions, on a per share basis, for the years ended December 31:

	2012				2011				2010

Ordinary income	$	0.74	33.2	%	$	0.85	41.5	%	$	0.57	27.1	%
Capital gains		1.13	50.7	%		0.01	0.5	%		0.04	1.9	%
Unrecaptured Section 1250 gain		0.36	16.1	%		0.04	2.0	%		—	—
Return of capital		—	—			1.15	56.0	%		1.49	71.0	%

Dividends paid	$	2.23	100.0	%	$	2.05	100.0	%	$	2.10	100.0	%

The Company has made Taxable REIT Subsidiary elections for all of its corporate subsidiaries other than its Qualified REIT Subsidiaries. The elections, effective for the year beginning January 1, 2001 and future years were made pursuant to Section 856(l) of the Internal Revenue Code.

The income tax benefit of the TRSs for the years ended December 31, 2012, 2011 and 2010 are as follows:

	2012		2011		2010

Current	$	—	$	—	$	(11	)
Deferred		4,159		6,110		9,213

Income tax benefit	$	4,159	$	6,110	$	9,202

Income tax benefit of the TRSs for the years ended December 31, 2012, 2011 and 2010 are reconciled to the amount computed by applying the Federal Corporate tax rate as follows:

	2012			2011			2010

Book loss for TRSs	$	16,154		$	19,558		$	19,896

Tax at statutory rate on earnings from continuing operations before income taxes	$	5,493		$	6,650		$	6,765
Other		(1,334	)		(540	)		2,437

Income tax benefit	$	4,159		$	6,110		$	9,202

The net operating loss carryforwards are currently scheduled to expire through 2032, beginning in 2021. Net deferred tax assets of $33,414 and $26,829 were included in deferred charges and other assets, net at December 31, 2012 and 2011, respectively. The tax effects of temporary differences and carryforwards of the TRSs included in the net deferred tax assets at December 31, 2012 and 2011 are summarized as follows:

	2012			2011

Net operating loss carryforwards	$	33,781		$	29,045
Property, primarily differences in depreciation and amortization, the tax basis of land assets and treatment of certain other costs		(1,973	)		(4,442	)
Other		1,606			2,226

Net deferred tax assets	$	33,414		$	26,829

The following is a reconciliation of the unrecognized tax benefits for the years ended December 31, 2012, 2011 and 2010:

	2012		2011		2010

Unrecognized tax benefits at beginning of year	$	—	$	—	$	2,420
Gross increases for tax positions of current year		—		—		—
Gross decreases for tax positions of current year		—		—		(2,420	)

Unrecognized tax benefits at end of year	$	—	$	—	$	—

The tax years 2009 through 2011 remain open to examination by the taxing jurisdictions to which the Company is subject. The Company does not expect that the total amount of unrecognized tax benefit will materially change within the next 12 months.