Forest City Enterprises (FCEPP) 10-Q 3 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 29, 2015
Entity Registrant Name	FOREST CITY ENTERPRISES INC
Entity Central Index Key	38,067
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Common stock Class A
Entity Common Stock, Shares Outstanding		240,919,839
Common stock Class B
Entity Common Stock, Shares Outstanding		18,824,341

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Real Estate
Completed rental properties	$ 8,592,934,000	$ 7,753,561,000
Projects under construction and development	802,621,000	477,957,000
Land inventory	73,566,000	97,469,000
Total Real Estate	9,469,121,000	8,328,987,000
Less accumulated depreciation	(1,677,620,000)	(1,555,965,000)
Real Estate, net – (variable interest entities $591.5 million and $427.8 million, respectively)	7,791,501,000	6,773,022,000
Cash and equivalents – (variable interest entities $45.7 million and $20.6 million, respectively)	331,449,000	326,518,000
Restricted cash – (variable interest entities $13.6 million and $28.6 million, respectively)	241,562,000	266,530,000
Notes and accounts receivable, net	444,136,000	419,038,000
Investments in and advances to unconsolidated entities	665,623,000	620,466,000
Other assets – (variable interest entities $19.4 million and $19.6 million, respectively)	485,970,000	409,366,000
Total Assets	9,960,241,000	8,814,940,000
Liabilities
Mortgage debt and notes payable, nonrecourse – (variable interest entities $283.1 million and $250.7 million, respectively)	4,501,169,000	4,238,201,000
Revolving credit facility	0	0
Convertible senior debt	272,249,000	700,000,000
Accounts payable, accrued expenses and other liabilities – (variable interest entities $115.5 million and $42.6 million, respectively)	968,089,000	847,011,000
Cash distributions and losses in excess of investments in unconsolidated entities	149,162,000	211,493,000
Deferred income taxes	483,084,000	482,474,000
Total Liabilities	6,373,753,000	6,479,179,000
Redeemable Noncontrolling Interest	168,226,000	183,038,000
Commitments and Contingencies	0	0
Shareholders' Equity
Preferred stock	0	0
Common stock - $.33 1/3 par value
Common stock	86,393,000	66,689,000
Additional paid-in capital	2,460,133,000	1,165,828,000
Retained earnings	510,526,000	563,198,000
Less treasury stock, at cost; 1,509,065 and 1,095,310 Class A shares, respectively	(29,647,000)	(18,922,000)
Shareholders' equity before accumulated other comprehensive loss	3,027,405,000	1,776,793,000
Accumulated other comprehensive loss	(49,959,000)	(58,846,000)
Total Shareholders' Equity	2,977,446,000	1,717,947,000
Noncontrolling interest	440,816,000	434,776,000
Total Equity	3,418,262,000	2,152,723,000
Total Liabilities and Equity	9,960,241,000	8,814,940,000
Common stock Class A
Common stock - $.33 1/3 par value
Common stock	80,118,000	60,286,000
Total Equity	80,118,000	60,286,000
Common stock Class B
Common stock - $.33 1/3 par value
Common stock	6,275,000	6,403,000
Total Equity	$ 6,275,000	$ 6,403,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Real Estate, net	$ 7,791,501	$ 6,773,022
Cash and equivalents	331,449	326,518
Restricted cash	241,562	266,530
Other assets	485,970	409,366
Mortgage debt and notes payable, nonrecourse	4,501,169	4,238,201
Accounts payable, accrued expenses and other liabilities	$ 968,089	$ 847,011
Preferred stock, without par value	$ 0	$ 0
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Variable interest entities
Real Estate, net	$ 591,500	$ 427,800
Cash and equivalents	45,700	20,600
Restricted cash	13,600	28,600
Other assets	19,400	19,600
Mortgage debt and notes payable, nonrecourse	283,100	250,700
Accounts payable, accrued expenses and other liabilities	$ 115,500	$ 42,600
Common stock Class A
Common stock, par value per share	$ 0.333	$ 0.333
Common stock, shares authorized	371,000,000	371,000,000
Common stock, shares issued	240,354,028	180,859,262
Common stock, shares outstanding	238,844,963	179,763,952
Treasury stock, Class A shares	1,509,065	1,095,310
Common stock Class B
Common stock, par value per share	$ 0.333	$ 0.333
Common stock, shares authorized	56,000,000	56,000,000
Common stock, shares issued	18,824,341	19,208,517
Common stock, shares outstanding	18,824,341	19,208,517
Common stock, shares issuable	26,257,961	26,257,961

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Rental	$ 168,723,000	$ 132,536,000	$ 457,809,000	$ 391,019,000
Tenant recoveries	38,161,000	30,082,000	101,241,000	89,146,000
Service and management fees	9,911,000	12,150,000	31,394,000	36,053,000
Parking and other	17,145,000	13,604,000	43,644,000	38,272,000
Arena	24,637,000	25,039,000	80,497,000	84,968,000
Land sales	23,535,000	15,123,000	47,589,000	50,367,000
Military Housing	6,945,000	6,209,000	23,724,000	24,092,000
Total revenues	289,057,000	234,743,000	785,898,000	713,917,000
Expenses
Property operating and management	97,215,000	92,347,000	285,940,000	283,075,000
Real estate taxes	24,261,000	19,691,000	66,959,000	59,445,000
Ground rent	3,701,000	2,411,000	9,376,000	6,465,000
Arena operating	17,199,000	17,105,000	55,019,000	55,399,000
Cost of land sales	9,189,000	2,879,000	15,716,000	17,081,000
Military Housing operating	1,938,000	1,958,000	6,289,000	10,216,000
Corporate general and administrative	10,191,000	13,763,000	35,895,000	35,383,000
REIT conversion and reorganization costs	9,515,000	0	25,498,000	0
Total operating expenses	173,209,000	150,154,000	500,692,000	467,064,000
Depreciation and amortization	79,966,000	55,511,000	206,782,000	169,838,000
Write-offs of Abandoned Development Projects and Demolition Costs	0	456,000	5,778,000	1,389,000
Impairment of real estate	425,463,000	966,000	425,463,000	130,795,000
Total expenses	678,638,000	207,087,000	1,138,715,000	769,086,000
Operating income (loss)	(389,581,000)	27,656,000	(352,817,000)	(55,169,000)
Interest and other income	8,995,000	10,096,000	27,977,000	33,974,000
Net loss on disposition of partial interest in development project	0	0	0	(19,590,000)
Net gain (loss) on disposition of full or partial interest in rental properties	1,746,000	(146,000)	1,746,000	(613,000)
Net gain on change in control of interests	0	0	487,684,000	2,759,000
Interest expense	(49,007,000)	(59,312,000)	(149,335,000)	(178,917,000)
Amortization of mortgage procurement costs	(1,793,000)	(2,074,000)	(5,756,000)	(5,967,000)
Loss on extinguishment of debt	(23,609,000)	(49,000)	(61,953,000)	(927,000)
Loss before income taxes	(453,249,000)	(23,829,000)	(52,454,000)	(224,450,000)
Income tax expense (benefit)
Current	6,526,000	3,493,000	10,050,000	8,992,000
Deferred	(186,172,000)	(3,858,000)	(6,651,000)	(52,373,000)
Total income tax expense (benefit)	(179,646,000)	(365,000)	3,399,000	(43,381,000)
Earnings (loss) from unconsolidated entities, gross of tax
Equity in earnings (loss)	(29,132,000)	10,157,000	(20,094,000)	30,468,000
Net gain on disposition of interest in unconsolidated entities	1,009,000	9,189,000	20,293,000	50,075,000
Impairment	(1,384,000)	0	(1,384,000)	0
Total Equity in Earnings on Unconsolidated Entities	(29,507,000)	19,346,000	(1,185,000)	80,543,000
Loss from continuing operations	(303,110,000)	(4,118,000)	(57,038,000)	(100,526,000)
Discontinued operations, net of tax:
Operating loss from rental properties	0	0	0	(1,844,000)
Gain on disposition of rental properties	0	0	0	14,856,000
Earnings from discontinued operations	0	0	0	13,012,000
Net loss	(303,110,000)	(4,118,000)	(57,038,000)	(87,514,000)
Noncontrolling interests
Loss from continuing operations attributable to noncontrolling interests, gross of tax	891,000	4,804,000	4,366,000	10,778,000
Earnings from discontinued operations attributable to noncontrolling interests	0	0	0	(50,000)
Loss attributable to noncontrolling interests	891,000	4,804,000	4,366,000	10,728,000
Net earnings (loss) attributable to Forest City Enterprises, Inc.	$ (302,219,000)	$ 686,000	$ (52,672,000)	$ (76,786,000)
Basic and diluted earnings (loss) per common share
Income (Loss) from Continuing Operations, Per Basic and Diluted Share	$ (1.18)	$ 0	$ (0.23)	$ (0.45)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic and Diluted Share	0	0	0	0.06
Earnings Per Share, Basic and Diluted	$ (1.18)	$ 0	$ (0.23)	$ (0.39)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (303,110)	$ (4,118)	$ (57,038)	$ (87,514)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax	109	(102)	29	48
Unrealized net gains on interest rate derivative contracts, net of tax	2,069	7,265	8,870	15,272
Total other comprehensive income, net of tax	2,178	7,163	8,899	15,320
Comprehensive income (loss)	(300,932)	3,045	(48,139)	(72,194)
Comprehensive loss attributable to noncontrolling interest	887	4,779	4,354	10,682
Total comprehensive income (loss) attributable to Forest City Enterprises, Inc.	$ (300,045)	$ 7,824	$ (43,785)	$ (61,512)

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Tax amount related to foreign currency translation adjustments	$ (68)	$ 64	$ (18)	$ (30)
Tax amount related to unrealized net gains on interest rate derivative contracts	$ (739)	$ (4,587)	$ (5,612)	$ (9,647)

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($)	Total	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interest	Common stock Class A	Common Stock Class B
Balance at Dec. 31, 2013	$ 1,926,119,000	$ 1,095,748,000	$ 570,793,000	$ (15,978,000)	$ (76,582,000)	$ 285,913,000	$ 59,500,000	$ 6,725,000
Balance, Shares at Dec. 31, 2013				942,000			178,499,000	20,173,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss, net of $14,812 and $17,095 attributable to redeemable noncontrolling interest	(3,925,000)		(7,595,000)			3,670,000
Other comprehensive income, net of tax	17,791,000				17,736,000	55,000
Purchase of treasury stock	(4,009,000)			$ (4,009,000)
Purchase of treasury stock, Shares				215,000
Conversion of Class B to Class A shares	0						$ 322,000	$ (322,000)
Conversion of Class B to Class A shares, Shares							964,000	(964,000)
Restricted stock vested	0	(240,000)					$ 240,000
Restricted stock vested, Shares							723,000
Exercise of stock options	789,000	(276,000)		$ 1,065,000
Exercise of stock options, Shares				(62,000)
Stock-based compensation	19,673,000	19,673,000
Write-off of deferred tax asset related to expired stock options	(419,000)	(419,000)
Exchange of Class A Common Units for Class A shares	0	34,134,000				(34,358,000)	$ 224,000
Exchange of Class A Common Units for Class A shares, shares							673,000
Redeemable noncontrolling interest adjustment	(28,390,000)	(28,390,000)
Acquisition of partners' noncontrolling interest in consolidated subsidiaries	(99,863,000)	(32,505,000)				(67,358,000)
Contributions from noncontrolling interests	175,274,000					175,274,000
Distributions to noncontrolling interests	(14,634,000)					(14,634,000)
Adjustment due to change in ownership of consolidated subsidiaries	(3,935,000)	78,103,000				(82,038,000)
Change in control of equity method subsidiary	168,252,000					168,252,000
Balance at Dec. 31, 2014	2,152,723,000	1,165,828,000	563,198,000	$ (18,922,000)	(58,846,000)	434,776,000	$ 60,286,000	$ 6,403,000
Balance, Shares at Dec. 31, 2014				1,095,000			180,859,000	19,209,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss, net of $14,812 and $17,095 attributable to redeemable noncontrolling interest	(42,226,000)		(52,672,000)			10,446,000
Other comprehensive income, net of tax	8,899,000				8,887,000	12,000
Issuance of Class A shares in equity offering	806,500,000	794,042,000					$ 12,458,000
Issuance of Class A shares in equity offering, shares							37,375,000
Purchase of treasury stock	$ (5,412,000)			$ (5,412,000)
Purchase of treasury stock, Shares	216,700			217,000
Conversion of Class B to Class A shares	$ 0						$ 128,000	$ (128,000)
Conversion of Class B to Class A shares, Shares							385,000	(385,000)
Proceeds and Class A shares received from termination of Convertible Senior Notes hedge,	17,818,000	24,321,000		$ (6,503,000)
Proceeds and Class A shares received from termination of Convertible Senior Notes hedge, shares				258,000
Issuance of Class A shares in exchange for Convertible Senior Notes	410,580,000	403,924,000					$ 6,656,000
Issuance of Class A shares in exchange for Convertible Senior Notes, Shares							19,967,000
Restricted stock vested	0	(246,000)					$ 246,000
Restricted stock vested, Shares							736,000
Exercise of stock options	955,000	(235,000)		$ 1,190,000
Exercise of stock options, Shares				(61,000)
Stock-based compensation	21,536,000	21,536,000
Write-off of deferred tax asset related to expired stock options	(1,536,000)	(1,536,000)
Exchange of Class A Common Units for Class A shares	0	52,319,000				(52,663,000)	$ 344,000
Exchange of Class A Common Units for Class A shares, shares							1,032,000
Acquisition of partners' noncontrolling interest in consolidated subsidiaries	(308,000)	(299,000)				(9,000)
Contributions from noncontrolling interests	77,369,000					77,369,000
Distributions to noncontrolling interests	(28,588,000)					(28,588,000)
Adjustment due to change in ownership of consolidated subsidiaries	(48,000)	479,000				(527,000)
Balance at Sep. 30, 2015	$ 3,418,262,000	$ 2,460,133,000	$ 510,526,000	$ (29,647,000)	$ (49,959,000)	$ 440,816,000	$ 80,118,000	$ 6,275,000
Balance, Shares at Sep. 30, 2015				1,509,000			240,354,000	18,824,000

Consolidated Statements of Equ8

Consolidated Statements of Equity (Parenthetical) (Unaudited) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Noncontrolling Interest
Net earnings (loss) attributable to redeemable noncontrolling interest	$ (14,812)	$ (17,095)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net loss	$ (57,038,000)	$ (87,514,000)
Depreciation and amortization	206,782,000	169,838,000
Amortization of mortgage procurement costs	5,756,000	5,967,000
Impairment of real estate	425,463,000	130,795,000
Impairment	1,384,000	0
Write-offs of abandoned development projects	674,000	283,000
Loss on extinguishment of debt	61,953,000	927,000
Net loss on disposition of partial interest in development project	0	19,590,000
Net (gain) loss on disposition of full or partial interest in rental properties	(1,746,000)	613,000
Net gain on change in control of interests	(487,684,000)	(2,759,000)
Deferred income tax benefit	(6,651,000)	(52,373,000)
Earnings from unconsolidated entities	(199,000)	(80,543,000)
Stock-based compensation expense	16,569,000	10,730,000
Amortization and mark-to-market adjustments of derivative instruments	(2,653,000)	4,984,000
Cash distributions from operations of unconsolidated entities	46,671,000	59,217,000
Non-cash operating expenses and deferred taxes included in discontinued operations	0	9,883,000
Gain on disposition of rental properties included in discontinued operations	0	(28,100,000)
Decrease in land inventory	5,062,000	9,203,000
Increase in notes and accounts receivable	(17,726,000)	(2,065,000)
(Increase) decrease in other assets	(15,341,000)	7,562,000
Decrease in accounts payable, accrued expenses and other liabilities	(22,726,000)	(15,009,000)
Net cash provided by operating activities	158,550,000	161,229,000
Cash Flows from Investing Activities
Capital expenditures	(338,490,000)	(295,182,000)
Acquisitions	(397,275,000)	(19,988,000)
Payment of lease procurement costs	(8,063,000)	(7,212,000)
(Increase) decrease in notes receivable	(10,934,000)	10,580,000
Decrease in restricted cash used for investing purposes	42,262,000	106,165,000
Proceeds from disposition of rental properties or development project	36,594,000	236,908,000
Contributions to investments in and advances to unconsolidated entities	(92,678,000)	(112,613,000)
Distributions from investments in and advances to unconsolidated entities	11,911,000	120,294,000
Net cash (used in) provided by investing activities	(756,673,000)	38,952,000
Cash Flows from Financing Activities
Proceeds from nonrecourse mortgage debt and notes payable	256,049,000	507,788,000
Principal payments on nonrecourse mortgage debt and notes payable	(441,822,000)	(733,937,000)
Borrowings on revolving credit facility	111,850,000	832,325,000
Payments on revolving credit facility	(111,850,000)	(832,325,000)
Payments to noteholders related to exchange of convertible senior notes	(61,110,000)	0
Transaction costs related to exchange of convertible senior notes	(6,950,000)	0
Proceeds received from termination of convertible senior note hedge	17,818,000	0
Proceeds from issuance of Class A common stock, net of $34,438 of transaction costs	806,500,000	0
Payments of deferred financing costs	(11,447,000)	(10,751,000)
Purchase of treasury stock	(5,412,000)	(3,800,000)
Exercise of stock options	955,000	583,000
Acquisitions of noncontrolling interests	(308,000)	(83,871,000)
Contributions from noncontrolling interests	77,369,000	34,249,000
Distributions to noncontrolling interests	(28,588,000)	(8,992,000)
Net cash provided by (used in) financing activities	603,054,000	(298,731,000)
Net increase (decrease) in cash and equivalents	4,931,000	(98,550,000)
Cash and equivalents at beginning of period	326,518,000	280,206,000
Cash and equivalents at end of period	$ 331,449,000	$ 181,656,000

Consolidated Statements of Ca10

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) (Unaudited) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Payments of Transaction Costs, issuance of Class A Common Stock	$ 34,438

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Basis of Presentation The interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and should be read in conjunction with the consolidated financial statements and related notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2014 , as amended. The results of interim periods are not necessarily indicative of results for the full year or any subsequent period. In management’s opinion, all adjustments (consisting solely of normal recurring matters) necessary for a fair statement of financial position, results of operations and cash flows as of and for the periods presented have been included. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Company to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and related notes. Some of the critical estimates include, but are not limited to, determination of the primary beneficiary of variable interest entities (“VIEs”), estimates of useful lives for long-lived assets, reserves for collection on accounts and notes receivable and other investments, the fair value estimate of redeemable noncontrolling interest, net gain on change in control of interests, impairment of real estate and other-than-temporary impairments on equity method investments. Actual results could differ from those estimates. Planned REIT Conversion On January 13, 2015, the Company announced its Board of Directors approved a plan to pursue conversion to real estate investment trust (“REIT”) status. On September 16, 2015, the Securities and Exchange Commission (the “SEC”) declared the Company’s wholly owned subsidiary, Forest City Realty Trust, Inc.’s registration statement on Form S-4 effective. On September 17, 2015, the Company filed with the SEC a definitive proxy statement and Forest City Realty Trust, Inc. filed a prospectus in connection with the Company’s plan to convert to REIT status. The Company’s special shareholder meeting to present proposals related to the Company’s conversion to REIT status was held on October 20, 2015. Each of the proposals presented to the shareholders received the required number of affirmative votes, and as a result, each proposal was approved by the shareholders. The Company expects to elect REIT status for its taxable year ended December 31, 2016, subject to business conditions, the completion of related preparatory work, obtaining necessary approvals and third-party consents. Variable Interest Entities As of September 30, 2015 , the Company determined it was the primary beneficiary of 25 VIEs representing 21 consolidated properties. The creditors of the consolidated VIEs do not have recourse to the Company’s general credit. As of September 30, 2015 , the Company determined it was not the primary beneficiary of 64 VIEs and accounts for these interests as equity method investments. The maximum exposure to loss of these unconsolidated VIEs is limited to $339,000,000 , the Company’s investment balances as of September 30, 2015 . Investments in Unconsolidated Entities The Company owns an equity interest in the Brooklyn Nets (the “Nets”), a member of the National Basketball Association (“NBA”), through the Company’s consolidated subsidiary Nets Sports & Entertainment (“NS&E”). NS&E owns 20% of the Nets and accounts for its interests in the Nets on the equity method of accounting. In July 2013, the Company elected not to fund current or future capital calls related to this non-core investment and began investigating various disposition strategies. The Company’s election did not constitute a default under any agreements related to the Company’s investment in the Nets but did provide the right to the majority partner to dilute the Company’s ownership interest. In order to preserve the ownership interest while pursuing disposition strategies, the Company entered into a forbearance agreement with the majority partner of the Nets related to the 2013-2014 and 2014-2015 NBA basketball season capital calls. Based on the decision to no longer fund the equity method investment, the Company ceased recording the Company’s portion of the equity in earnings. The Company has been actively marketing its interest in the Nets but has yet to enter a definitive agreement to sell its ownership interests. On September 8, 2015, the forbearance agreement, as amended, expired and the Company made the strategic decision to fund the Company’s portion of the Nets capital calls, rather than have the Company’s ownership interests diluted. As a result, the Company’s portion of the net loss recorded during the nine months ended September 30, 2015 primarily represents losses related to its ownership interest in the Nets from the period the Company ceased funding to present. It is the Company’s intention to continue to market this equity method investment for sale. For the nine months ended September 30, 2015, Brooklyn Basketball Holdings, LLC ("BBH"), the equity method subsidiary of NS&E that owns the Nets, was deemed a significant subsidiary. Summarized financial information for BBH is as follows: Nine Months Ended September 30, 2015 2014 (in thousands) Operations: Revenues $ 90,675 $ 92,790 Operating expenses (135,256 ) (180,482 ) Interest expense, net (9,191 ) (9,209 ) Depreciation and amortization (5,037 ) (5,754 ) Net loss (pre-tax) $ (58,809 ) $ (102,655 ) Company's portion of net loss (pre-tax) $ (38,435 ) $ (2,361 ) New Accounting Guidance The following accounting pronouncements were adopted during the nine months ended September 30, 2015 : In January 2015, the FASB issued an amendment to the accounting guidance to eliminate the concept of extraordinary items from GAAP. The presentation and disclosure guidance for items that are unusual in nature or occur infrequently has been retained and expanded to include items that are both unusual in nature and infrequently occurring. This guidance was early adopted effective January 1, 2015 and did not have a material impact on the Company’s consolidated financial statements. The following new accounting pronouncements will be adopted on their respective effective dates: In May 2014, the FASB issued an amendment to the accounting guidance for revenue from contracts with customers. The core principle of this guidance is an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance defines steps an entity should apply to achieve the core principle. This guidance is effective for annual reporting periods beginning after December 15, 2017 and interim reporting periods within that annual period and allows for both retrospective and modified retrospective methods of adoption. Early adoption is permitted for annual periods beginning after December 15, 2016. The Company is currently in the process of determining the method of adoption and evaluating the impact of adopting this guidance on its consolidated financial statements. In August 2014, the FASB issued an amendment to the accounting guidance on disclosure of uncertainties about an entity’s ability to continue as a going concern. This guidance requires management to assess the Company’s ability to continue as a going concern and to provide disclosures under certain circumstances. This guidance is effective for annual reporting periods ending after December 15, 2016 and interim reporting periods thereafter. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In February 2015, the FASB issued an amendment to the consolidation accounting guidance. This guidance changes the required analysis to determine whether certain types of legal entities should be consolidated. The amendment modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and may affect the consolidation analysis of entities involved in VIEs, particularly those having fee arrangements and related party relationships. This guidance is effective for fiscal years, and for interim reporting periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In April 2015, the FASB issued an Accounting Standards Update to simplify the presentation of debt issuance costs. This guidance requires that third-party debt issuance costs be presented in the balance sheet as a direct deduction from the carrying value of the debt. Debt issuance costs related to revolving lines of credit are not within the score of this new guidance. This guidance is effective for fiscal years, and for interim reporting periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. Related Party Transactions The Company and certain of its affiliates entered into a Master Contribution and Sale Agreement (the “Master Contribution Agreement”) with Bruce C. Ratner (“Mr. Ratner”), Executive Vice President and Director, and certain entities and individuals affiliated with Mr. Ratner (the “BCR Entities”) in August 2006 to purchase their interests in a total of 30 retail, office and residential operating properties and service companies in the Greater New York City metropolitan area. The Company issued Class A Common Units (“Units”) in a jointly-owned, limited liability company in exchange for their interests. The Units may be exchanged for one of the following forms of consideration at the Company’s sole discretion: (i) an equal number of shares of the Company’s Class A common stock or, (ii) cash based on a formula using the average closing price of the Class A common stock at the time of conversion or, (iii) a combination of cash and shares of the Company’s Class A common stock. The Company has no rights to redeem or repurchase the Units. Pursuant to the Master Contribution Agreement, certain projects under development would remain owned jointly until each project was completed and achieved “stabilization.” Upon stabilization, each project would be valued and the Company, in its discretion, would choose among various ownership options for the project. In September 2015, certain BCR Entities exchanged 1,032,402 of the Units. The Company issued 1,032,402 shares of its Class A common stock for the exchanged Units. The Company accounted for the exchange as a purchase of noncontrolling interests, resulting in a reduction of noncontrolling interests of $52,663,000 , an increase to Class A common stock of $344,000 and a combined increase to additional paid-in capital of $52,319,000 , accounting for the fair value of common stock issued and the difference between the fair value of consideration exchanged and the noncontrolling interest balance. At September 30, 2015 and December 31, 2014 , 1,940,788 and 2,973,190 Units, respectively, were outstanding. The carrying value of the Units of $99,000,000 and $151,663,000 is included as noncontrolling interests at September 30, 2015 and December 31, 2014 , respectively. In June 2014, one of the BCR Entities exchanged 673,565 of the Units. The Company issued 673,565 shares of its Class A common stock for the exchanged Units. The Company accounted for the exchange as a purchase of noncontrolling interests, resulting in a reduction of noncontrolling interests of $34,358,000 , an increase to Class A common stock of $224,000 and a combined increase to additional paid-in capital of $34,134,000 , accounting for the fair value of common stock issued and the difference between the fair value of consideration exchanged and the noncontrolling interest balance. At September 30, 2014 and December 31, 2013, 2,973,190 and 3,646,755 Units, respectively, were outstanding. Pursuant to the terms of the Master Contribution Agreement, in January 2014, the Company caused certain of its affiliates to acquire the BCR Entities’ interests in 8 Spruce Street , an apartment community in Manhattan, New York, DKLB BKLN , an apartment community in Brooklyn, New York, and East River Plaza , a specialty retail center in Manhattan, New York, for $14,286,000 . Prior to the transaction, the Company accounted for the three projects using the equity method of accounting and subsequently accounts for the projects as equity method investments as the partners continue to have joint control. As a result of the March 2014 disposal of Quartermaster Plaza , a specialty retail center in Philadelphia, Pennsylvania, the Company accrued $1,646,000 during the nine months ended September 30, 2014, related to a tax indemnity payment due to the BCR Entities, all of which was paid as of March 31, 2015. Accumulated Other Comprehensive Loss The following table summarizes the components of accumulated other comprehensive income (loss) (“accumulated OCI”): September 30, 2015 December 31, 2014 (in thousands) Unrealized losses on foreign currency translation $ 90 $ 137 Unrealized losses on interest rate contracts (1) 81,602 96,084 81,692 96,221 Income tax benefit (31,651 ) (37,281 ) Noncontrolling interest (82 ) (94 ) Accumulated Other Comprehensive Loss $ 49,959 $ 58,846 (1) Included in the amounts as of September 30, 2015 and December 31, 2014 are $58,223 and $73,536 , respectively, of unrealized loss on an interest rate swap associated with the New York Times office building on its nonrecourse mortgage debt with a notional amount of $640,000 . This swap effectively fixes the mortgage at an all-in lender interest rate of 6.40% and expires in September 2017. The following table summarizes the changes, net of tax and noncontrolling interest, of accumulated OCI by component: Foreign Currency Translation Interest Rate Contracts Total (in thousands) Nine Months Ended September 30, 2015 Balance, January 1, 2015 $ (84 ) $ (58,762 ) $ (58,846 ) Gain (loss) recognized in accumulated OCI 29 (9,524 ) (9,495 ) Loss reclassified from accumulated OCI — 18,382 18,382 Total other comprehensive income 29 8,858 8,887 Balance, September 30, 2015 $ (55 ) $ (49,904 ) $ (49,959 ) Nine Months Ended September 30, 2014 Balance, January 1, 2014 $ (116 ) $ (76,466 ) $ (76,582 ) Gain (loss) recognized in accumulated OCI 48 (6,235 ) (6,187 ) Loss reclassified from accumulated OCI — 21,461 21,461 Total other comprehensive income 48 15,226 15,274 Balance, September 30, 2014 $ (68 ) $ (61,240 ) $ (61,308 ) The following table summarizes losses reclassified from accumulated OCI and their location on the Consolidated Statements of Operations: Accumulated OCI Components Loss Reclassified from Accumulated OCI Location on Consolidated Statements of Operations (in thousands) Nine Months Ended September 30, 2015 Interest rate contracts $ 28,087 Interest expense Interest rate contracts (900 ) Net gain on change in control of interests Interest rate contracts 2,852 Earnings (loss) from unconsolidated entities, gross of tax 30,039 Total before income tax and noncontrolling interest (11,645 ) Income tax benefit (12 ) Noncontrolling interest $ 18,382 Loss reclassified from accumulated OCI Nine Months Ended September 30, 2014 Interest rate contracts $ 28,413 Interest expense Interest rate contracts 3,666 Discontinued operations Interest rate contracts 3,005 Earnings (loss) from unconsolidated entities, gross of tax 35,084 Total before income tax and noncontrolling interest (13,597 ) Income tax benefit (26 ) Noncontrolling interest $ 21,461 Loss reclassified from accumulated OCI Supplemental Non-Cash Disclosures The following table summarizes the impact to the applicable balance sheet line items as a result of various non-cash transactions. Non-cash transactions primarily include dispositions of operating properties whereby the nonrecourse mortgage debt is assumed by the buyer, acquisition of rental properties, exchanges of Units or senior notes for Class A common stock, changes in consolidation methods of fully consolidated properties and equity method investments due to the occurrence of triggering events including, but not limited to, disposition of a partial interest in rental properties or development projects or acquisition of a partner’s interest, change in construction payables and other capital expenditures, change in the fair market value of redeemable noncontrolling interest and capitalization of stock-based compensation granted to employees directly involved with the development and construction of real estate. Nine Months Ended September 30, 2015 2014 (in thousands) Non-cash changes to balance sheet - Investing Activities Projects under construction and development $ 84,971 $ (351,905 ) Completed rental properties 827,125 (136,008 ) Restricted cash 8,969 20 Notes and accounts receivable — 2,728 Investments in and advances to affiliates - due to dispositions or change in control 71,438 97,154 Investments in and advances to affiliates - other activity 20,397 25,509 Total non-cash effect on investing activities $ 1,012,900 $ (362,502 ) Non-cash changes to balance sheet - Financing Activities Accounts payable, accrued expenses and other liabilities $ — $ 10,683 Nonrecourse mortgage debt and notes payable 448,741 (342,960 ) Convertible senior debt (424,433 ) — Class A common stock 7,000 225 Additional paid-in capital 473,614 34,741 Treasury stock (6,503 ) — Redeemable noncontrolling interest — 28,390 Noncontrolling interest (53,188 ) (73,535 ) Total non-cash effect on financing activities $ 445,231 $ (342,456 )

Mortgage Debt and Notes Payable

Mortgage Debt and Notes Payable, Nonrecourse	9 Months Ended
	Sep. 30, 2015
Mortgage Debt and Notes Payable, Nonrecourse [Abstract]
Mortgage Debt and Notes Payable, Nonrecourse	Mortgage Debt and Notes Payable, Nonrecourse The following table summarizes the mortgage debt and notes payable, nonrecourse maturities as of September 30, 2015 : Years Ending December 31, (in thousands) 2015 $ 75,578 2016 283,047 2017 1,259,953 2018 360,710 2019 363,087 Thereafter 2,158,794 Total $ 4,501,169

Revolving Credit Facility

Revolving Credit Facility	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility The Company’s Fourth Amended and Restated Credit Agreement and Fourth Amended and Restated Guaranty of Payment of Debt, as amended to the date hereof (collectively, the “Credit Facility”), provides total available borrowings of $500,000,000 . The Credit Facility matures on February 21, 2016 and provides for one , 12 -month extension option, subject to certain conditions. Borrowings bear interest at London Interbank Offered Rate (“LIBOR”) plus 3.50% . Up to $100,000,000 of the available borrowings may be used, in the aggregate, for letters of credit and/or surety bonds. The Credit Facility has restrictive covenants, including a prohibition on certain consolidations and mergers, limitations on the amount of debt, guarantees and property liens and restrictions on the pledging of ownership interests in subsidiaries. The Company may repurchase up to $100,000,000 of Class A common stock and declare or pay dividends in an amount not to exceed $24,000,000 in the aggregate in any four quarter period to Class A or B common shareholders, subject to certain conditions. The Credit Facility contains development limitations and financial covenants, including the maintenance of minimum liquidity, debt yield, debt service and cash flow coverage ratios, and specified levels of shareholders’ equity (all as specified in the Credit Facility). At September 30, 2015 , the Company was in compliance with all of these financial covenants. The following table summarizes available credit on the Credit Facility: September 30, 2015 December 31, 2014 (in thousands) Maximum borrowings $ 500,000 $ 500,000 Less outstanding balances: Borrowings — — Letters of credit 70,276 85,768 Surety bonds — — Available credit $ 429,724 $ 414,232 In anticipation of the Company’s planned REIT conversion, the Company entered the market to refinance the Credit Facility. To date, discussions have been limited to a select group of banks the Company believes can lead a new facility. Terms are being finalized and loan documents are being drafted with the intent to close on the new facility with a subset of the existing bank group during the three months ended December 31, 2015. The new revolving credit facility, if consummated, is expected to provide at least the same level of borrowings and contain terms including restrictive and/or financial covenants customary for a REIT with a similar credit profile. However, there is no assurance the Company will be able to agree on favorable terms or at all.

Convertible Senior Debt

Convertible Senior Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Convertible Senior Debt	Convertible Senior Debt The following table summarizes the Company’s convertible senior debt: September 30, 2015 December 31, 2014 (in thousands) 5.000% Notes due 2016 $ 1,368 $ 50,000 4.250% Notes due 2018 154,526 350,000 3.625% Notes due 2020 116,355 300,000 Total $ 272,249 $ 700,000 During the three and nine months ended September 30, 2015 , the Company entered into separate, privately negotiated exchange agreements with certain holders of the Company’s convertible senior notes. Under the terms of the agreements, holders agreed to exchange certain notes for shares of Class A common stock and cash payments. The cash payments were primarily for accrued and unpaid interest and in consideration for additional interest payable through maturity. The additional interest payable through maturity was based in part on the daily Volume Weighted Average Price during a 20 -trading day measurement period following the agreement date for the 2018 and 2020 Senior Notes exchanges (that occurred in February 2015) and a 5 -trading day measurement period commencing July 16, 2015 for the 2018 and 2020 Note exchanges (that occurred in July 2015). Under the accounting guidance for induced conversions of convertible debt, additional amounts paid to induce the holders to exchange the notes were expensed resulting in a non-tax deductible loss on extinguishment of debt. For the three and nine months ended September 30, 2015 , the Company recorded $22,653,000 and $57,795,000 , respectively, as a loss on extinguishment of debt related to the exchange agreement transactions. The following table summarizes exchange agreement transactions completed during the nine months ended September 30, 2015 : Agreement Date Issuance Aggregate Principal Class A Common Shares Issued Cash Payments to Noteholders Loss on Extinguishment (in thousands, except share data) First Quarter-2015 February 26, 2015 2018 Senior Notes $ 120,087 5,541,115 $ 13,641 $ 13,372 February 26, 2015 2020 Senior Notes 128,238 5,297,885 19,283 19,038 March 5, 2015 2016 Senior Notes 40,481 2,805,513 6,163 2,732 Total $ 288,806 13,644,513 $ 39,087 $ 35,142 Third Quarter-2015 July 15, 2015 2016 Senior Notes $ 8,151 555,016 $ 1,305 $ 489 July 15/16, 2015 2018 Senior Notes 75,387 3,478,511 13,052 11,664 July 15, 2015 2020 Senior Notes 55,407 2,289,013 11,371 10,500 Total $ 138,945 6,322,540 $ 25,728 $ 22,653 Grand Total $ 427,751 19,967,053 $ 64,815 $ 57,795 Amounts paid to noteholders for consideration of additional interest through maturity are presented as cash used in financing activities in the Consolidated Statement of Cash Flows. In connection with the 2016 Senior Notes issuance, the Company entered into a convertible note hedge transaction intended to reduce, subject to a limit, the potential dilution with respect to the Company’s Class A common stock upon conversion of the 2016 Senior Notes. On March 3, 2015, the Company terminated and settled the convertible note hedge and received proceeds of $17,818,000 and 258,350 shares of Class A common stock, which the Company initially put into treasury. Under the accounting guidance, the total consideration received was recorded as an increase to additional paid in capital. All of the senior debt are unsecured senior obligations and rank equally with all existing and future unsecured indebtedness; however, they are effectively subordinated to the Credit Facility and all existing and future secured indebtedness and other liabilities of the Company’s subsidiaries to the extent of the value of the collateral securing that other debt.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Risk Management Objective of Using Derivatives The Company maintains an overall interest rate risk management strategy using derivative instruments to minimize significant unplanned impact on earnings and cash flows caused by interest rate volatility. The strategy uses interest rate swaps and option contracts having indices related to the pricing of specific liabilities. The Company enters into interest rate swaps to convert floating-rate debt to fixed-rate long-term debt, and vice-versa, depending on market conditions, or forward starting swaps to hedge the changes in benchmark interest rates on forecasted financings. Interest rate swaps are generally for periods of one to ten years. Option products are primarily interest rate caps for periods of one to three years. The use of option products is consistent with the Company’s risk management objective to reduce or eliminate exposure to variability in future cash flows primarily attributable to changes in benchmark rates relating to forecasted financings, and the variability in cash flows attributable to increases relating to interest payments on its floating-rate debt. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements. The Company primarily uses interest rate caps and swaps as part of its interest rate risk management strategy. Interest rate caps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an upfront premium. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated OCI and is subsequently reclassified into earnings during the period the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value is recognized directly in earnings. Ineffectiveness was insignificant during the three and nine months ended September 30, 2015 , and the three months ended September 30, 2014 . During the nine months ended September 30, 2014 , the Company recorded $3,667,000 as an increase to interest expense primarily related to ineffectiveness from a missed forecasted transaction arising from the early reclassification of accumulated OCI related to debt associated with an entity that was disposed of during the nine months ended September 30, 2014. As of September 30, 2015 , the Company expects it will reclassify amounts recorded in accumulated OCI into earnings as an increase in interest expense of approximately $24,512,000 , net of tax, within the next twelve months. However, the actual amount reclassified could vary due to future changes in the fair value of these derivatives. Fair Value Hedges of Interest Rate Risk The Company enters into total rate of return swaps (“TROR”) on various tax-exempt fixed-rate borrowings. The TROR convert borrowings from a fixed rate to a variable rate. In exchange for a fixed rate, the TROR requires the payment of a variable interest rate, generally equivalent to the Securities Industry and Financial Markets Association (“SIFMA”) rate ( 0.02% at September 30, 2015 ) plus a spread. Additionally, the Company has guaranteed the fair value of the underlying borrowings. Fluctuation in the value of the TROR is offset by the fluctuation in the value of the underlying borrowings, resulting in minimal financial impact. At September 30, 2015 , the aggregate notional amount of TROR designated as fair value hedging instruments is $471,985,000 . The underlying TROR borrowings are subject to a fair value adjustment. Nondesignated Hedges of Interest Rate Risk The Company uses derivative contracts to hedge certain interest rate risk, even though the contracts do not qualify for, or the Company has elected not to apply, hedge accounting. In these situations, the derivative is recorded at its fair value with changes reflected in earnings. In instances where the Company enters into separate derivative instruments effectively hedging the same debt for consecutive annual periods, the duplicate amount of notional is excluded from the following disclosure in an effort to provide information that enables the financial statement user to understand the Company’s volume of derivative activity. The following table summarizes the fair values and location in the Consolidated Balance Sheets of all derivative instruments: Fair Value of Derivative Instruments September 30, 2015 Asset Derivatives (included in Other Assets) Liability Derivatives (included in Accounts Payable, Accrued Expenses and Other Liabilities) Current Notional Fair Value Current Notional Fair Value (in thousands) Derivatives Designated as Hedging Instruments Interest rate caps $ 330,000 $ — $ — $ — Interest rate swaps — — 734,497 61,096 TROR 149,200 7,977 322,785 10,282 Total $ 479,200 $ 7,977 $ 1,057,282 $ 71,378 Derivatives Not Designated as Hedging Instruments Interest rate caps $ 316,396 $ — $ — $ — TROR 101,190 5,435 38,356 14,200 Total $ 417,586 $ 5,435 $ 38,356 $ 14,200 December 31, 2014 Derivatives Designated as Hedging Instruments Interest rate caps $ 330,000 $ 114 $ — $ — Interest rate swaps — — 869,154 75,281 TROR 149,200 6,379 217,785 11,983 Total $ 479,200 $ 6,493 $ 1,086,939 $ 87,264 Derivatives Not Designated as Hedging Instruments Interest rate caps $ 205,522 $ 12 $ — $ — TROR 101,410 1,857 38,425 15,098 Total $ 306,932 $ 1,869 $ 38,425 $ 15,098 The following table summarizes the impact of gains and losses related to derivative instruments designated as cash flow hedges included in the accumulated OCI section of the Consolidated Balance Sheets and in equity in earnings (loss) and interest expense in the Consolidated Statements of Operations: Loss Reclassified from Accumulated OCI Derivatives Designated as Cash Flow Hedging Instruments Gain (Loss) Recognized in OCI (Effective Portion) Location on Consolidated Statements of Operations Effective Amount Ineffective Amount (in thousands) Three Months Ended September 30, 2015 Interest rate caps and interest rate swaps $ (7,854 ) Interest expense $ (9,759 ) $ (16 ) Net gain on change in control of interests — — Earnings (loss) from unconsolidated entities, gross of tax (885 ) — Total $ (7,854 ) $ (10,644 ) $ (16 ) Nine Months Ended September 30, 2015 Interest rate caps and interest rate swaps $ (15,557 ) Interest expense $ (28,060 ) $ (27 ) Net gain on change in control of interests 900 — Earnings (loss) from unconsolidated entities, gross of tax (2,851 ) (1 ) Total $ (15,557 ) $ (30,011 ) $ (28 ) Three Months Ended September 30, 2014 Interest rate caps and interest rate swaps $ 1,288 Interest expense $ (9,561 ) $ (1 ) Earnings (loss) from unconsolidated entities, gross of tax (1,002 ) — Total $ 1,288 $ (10,563 ) $ (1 ) Nine Months Ended September 30, 2014 Interest rate caps and interest rate swaps $ (10,166 ) Interest expense $ (28,412 ) $ (1 ) Discontinued operations — (3,666 ) Earnings (loss) from unconsolidated entities, gross of tax (3,005 ) — Total $ (10,166 ) $ (31,417 ) $ (3,667 ) The following table summarizes the impact of gains and losses related to derivative instruments not designated as cash flow hedges in the Consolidated Statements of Operations: Net Gain (Loss) Recognized Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Derivatives Designated as Fair Value Hedging Instruments TROR (1) $ 848 $ 68 $ 3,299 $ 2,279 Derivatives Not Designated as Hedging Instruments Interest rate caps and interest rate swap $ (180 ) $ 62 $ (195 ) $ (41 ) TROR (1,143 ) (42 ) 4,476 633 Total $ (1,323 ) $ 20 $ 4,281 $ 592 (1) The net gain (loss) recognized in interest expense from the change in fair value of the underlying TROR borrowings was $(848) and $(3,299) for the three and nine months ended September 30, 2015 , respectively, and $(68) and $(2,279) for the three and nine months ended September 30, 2014 , respectively, offsetting the gain (loss) recognized on the TROR. Credit-risk-related Contingent Features The principal credit risk of the Company’s interest rate risk management strategy is the potential inability of a counterparty to cover its obligations. If a counterparty fails to fulfill its obligation, the risk of loss approximates the fair value of the derivative. To mitigate this exposure, the Company generally purchases derivative financial instruments from the financial institution that issues the related debt, from financial institutions with which the Company has other lending relationships, or from financial institutions with a minimum credit rating of AA at the time of the transaction. Agreements with derivative counterparties contain provisions under which the counterparty could terminate the derivative obligations if the Company defaults on its obligations under the Credit Facility and designated conditions are fulfilled. In instances where the Company’s subsidiaries have derivative obligations secured by a mortgage, the derivative obligations could be terminated if the indebtedness between the two parties is terminated, either by loan payoff or default of the indebtedness. In addition, certain subsidiaries have agreements containing provisions whereby the subsidiaries must maintain certain minimum financial ratios. As of September 30, 2015 , the Company does not have any derivative contracts containing credit-risk related contingent features, such as a credit rating downgrade, that may trigger collateral to be posted with a counterparty. The following table summarizes information about collateral posted for derivatives in liability positions as of September 30, 2015 : Collateral Information Notional Amount Fair Value Prior to Nonperformance Risk Nonperformance Risk Collateral Posted Nature of Collateral Credit Risk Contingent Feature (in thousands) Property Specific Swaps $ 734,497 $ 63,553 $ (2,457 ) $ — Mortgage liens None TROR 361,141 24,426 56 50,569 Restricted cash, notes receivable, letters of credit None Total $ 1,095,638 $ 87,979 $ (2,401 ) $ 50,569

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Capital Stock	Capital Stock In May 2015, the Company issued 37,375,000 shares of its Class A common stock in an underwritten public offering at a price of $22.50 per share, which included the underwriters’ exercise of their over-allotment option in full. The offering generated net proceeds of $806,500,000 after deducting underwriting discounts, commissions and other offering expenses. The Company used $386,156,000 of the net proceeds to finance the June 2015 acquisition of the Company’s partner’s 49% equity interest in seven life science office properties and two parking facilities at University Park at MIT , a mixed-use life science office campus in Cambridge, Massachusetts. Subsequent to the acquisition, the Company owns 100% of these assets. The Company used substantially all of the remaining net proceeds to retire a combination of nonrecourse mortgage debt and revolving credit facility borrowings. During the three and nine months ended September 30, 2015 , the Company issued shares of Class A common stock in connection with the separate, privately negotiated exchange transactions involving a portion of the Company’s 2016, 2018 and 2020 Senior Notes. See Note D – Convertible Senior Debt for detailed information on these Class A common stock issuances, as well as the receipt of shares of Class A common stock in connection with the termination of a convertible note hedge related to the 2016 Senior Notes. In addition, during the three months ended September 30, 2015 , the Company issued shares of Class A common stock to certain BCR entities in exchange of Class A Common Units pursuant to the Master Contribution Agreement. See the “Related Party Transactions” section of Note A – Accounting Policies for detailed information on this transaction.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Measurements on a Recurring Basis The Company’s financial assets consist of interest rate caps, interest rate swaps and TROR with positive fair values included in other assets. The Company’s financial liabilities consist of interest rate swaps and TROR with negative fair values included in accounts payable, accrued expenses and other liabilities and borrowings subject to TROR included in mortgage debt and notes payable, nonrecourse. For all periods presented, the Company recorded the redeemable noncontrolling interest related to Brooklyn Arena, LLC at historical cost since its initial cost adjusted for contributions, distributions and the allocation of profits or losses, is greater than the estimated redemption value, which approximates fair value. In the event the redemption value of the redeemable noncontrolling interest exceeds historical cost, the Company would be required to record the redeemable noncontrolling interest at redemption value, with a corresponding adjustment to additional paid-in capital. The following table summarizes information about financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis (if applicable), and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value: September 30, 2015 Level 1 Level 2 Level 3 Total (in thousands) Interest rate swaps (liabilities) $ — $ (2,873 ) $ (58,223 ) $ (61,096 ) TROR (assets) — — 13,412 13,412 TROR (liabilities) — — (24,482 ) (24,482 ) Fair value adjustment to the borrowings subject to TROR — — 2,305 2,305 Redeemable noncontrolling interest (1) — — (168,226 ) (168,226 ) Total $ — $ (2,873 ) $ (235,214 ) $ (238,087 ) December 31, 2014 (in thousands) Interest rate caps (assets) $ — $ 126 $ — $ 126 Interest rate swaps (liabilities) — (1,745 ) (73,536 ) (75,281 ) TROR (assets) — — 8,236 8,236 TROR (liabilities) — — (27,081 ) (27,081 ) Fair value adjustment to the borrowings subject to TROR — — 5,604 5,604 Redeemable noncontrolling interest (1) — — (183,038 ) (183,038 ) Total $ — $ (1,619 ) $ (269,815 ) $ (271,434 ) (1) Redeemable noncontrolling interest is recorded at historical cost as of the period presented. The following table presents a reconciliation of financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Redeemable Noncontrolling Interest Interest Rate Swaps Net TROR Fair value adjustment to the borrowings subject to TROR Total TROR Related Total (in thousands) Nine Months Ended September 30, 2015 Balance, January 1, 2015 (1) $ (183,038 ) $ (73,536 ) $ (18,845 ) $ 5,604 $ (13,241 ) $ (269,815 ) Loss attributable to redeemable noncontrolling interest 14,812 — — — — 14,812 Total realized and unrealized gains (losses): Included in earnings — — 7,775 (3,299 ) 4,476 4,476 Included in other comprehensive income — 15,313 — — — 15,313 Balance, September 30, 2015 (1) $ (168,226 ) $ (58,223 ) $ (11,070 ) $ 2,305 $ (8,765 ) $ (235,214 ) Nine Months Ended September 30, 2014 Balance, January 1, 2014 $ (171,743 ) $ (97,360 ) $ (24,346 ) $ 8,869 $ (15,477 ) $ (284,580 ) Loss attributable to redeemable noncontrolling interest 13,299 — — — — 13,299 Total realized and unrealized gains (losses): Included in earnings — — 2,912 (2,279 ) 633 633 Included in other comprehensive income — 19,067 — — — 19,067 Included in additional paid-in capital (28,390 ) — — — — (28,390 ) Balance, September 30, 2014 (1) $ (186,834 ) $ (78,293 ) $ (21,434 ) $ 6,590 $ (14,844 ) $ (279,971 ) (1) Redeemable noncontrolling interest is recorded at historical cost as of the period presented. The following table presents quantitative information about the significant unobservable inputs used to estimate the fair value of financial instruments measured on a recurring basis as of September 30, 2015 : Quantitative Information about Level 3 Fair Value Measurements Fair Value September 30, 2015 Valuation Technique Unobservable Input Input Values (in thousands) Credit valuation adjustment of interest rate swap $ 2,276 Potential future exposure Credit spread 4.00% TROR $ (11,070 ) Third party bond pricing Bond valuation 79.59 - 115.87 Fair value adjustment to the borrowings subject to TROR $ 2,305 Third party bond pricing Bond valuation 79.59 - 115.87 Third party service providers involved in fair value measurements are evaluated for competency and qualifications. Fair value measurements, including unobservable inputs, are evaluated based on current transactions and experience in the real estate and capital markets. The impact of changes in unobservable inputs used to determine the fair market value of the credit valuation adjustment, TROR and fair value adjustment to the borrowings subject to TROR are not deemed to be significant. Fair Value of Other Financial Instruments The carrying amount of notes and accounts receivable, excluding the Stapleton advances, and accounts payable, accrued expenses and other liabilities approximates fair value based upon the short-term nature of the instruments or the prevailing interest rate if long-term. The carrying amount of the Stapleton advances approximates fair value since the interest rates on these advances approximates current market rates. The Company estimates the fair value of its debt instruments by discounting future cash payments at interest rates the Company believes approximate the current market. Estimated fair value is based upon market prices of public debt, available industry financing data, current treasury rates, recent financing transactions, conversion features on convertible senior debt and loan to value ratios. The fair value of the Company’s debt instruments is classified as Level 3 in the fair value hierarchy. The following table summarizes the fair value of nonrecourse mortgage debt and notes payable (exclusive of the fair value of derivatives), revolving credit facility and convertible senior debt: September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value (in thousands) Fixed Rate Debt $ 2,747,031 $ 3,062,517 $ 2,993,591 $ 3,421,373 Variable Rate Debt 2,026,387 2,015,261 1,944,610 1,924,823 Total $ 4,773,418 $ 5,077,778 $ 4,938,201 $ 5,346,196

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation During the nine months ended September 30, 2015 , the Company granted 28,240 stock options, 826,718 shares of restricted stock and 627,385 performance shares under the Company’s 1994 Stock Plan. The stock options had a grant-date fair value of $7.79 , which was computed using the Black-Scholes option-pricing model using the following assumptions: expected term of 5.5 years , expected volatility of 30.8% , risk-free interest rate of 1.71% , and expected dividend yield of 0% . The exercise price of the options is $24.62 , the closing price of the underlying Class A common stock on the date of grant. The restricted stock had a grant-date fair value of $24.62 per share, the closing price of the Class A common stock on the date of grant. The performance shares had a weighted-average grant-date fair value of $32.14 per share, which was computed using Monte Carlo simulations. At September 30, 2015 , $1,734,000 of unrecognized compensation cost related to stock options is expected to be recognized over a weighted-average period of 23 months , $23,600,000 of unrecognized compensation cost related to restricted stock is expected to be recognized over a weighted-average period of 27 months , and $18,573,000 of unrecognized compensation cost related to performance shares is expected to be recognized over a weighted-average period of 26 months . The following table summarizes stock-based compensation costs and related deferred income tax benefit recognized in the financial statements: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Stock option costs $ 320 $ 698 $ 985 $ 2,677 Restricted stock costs 3,349 2,833 11,950 9,136 Performance share costs 3,541 1,087 8,601 3,027 Total stock-based compensation costs 7,210 4,618 21,536 14,840 Less amount capitalized into qualifying real estate projects (1,883 ) (1,490 ) (4,967 ) (4,110 ) Amount charged to operating expenses 5,327 3,128 16,569 10,730 Depreciation expense on capitalized stock-based compensation 227 139 679 586 Total stock-based compensation expense $ 5,554 $ 3,267 $ 17,248 $ 11,316 Deferred income tax benefit $ 2,131 $ 1,214 $ 6,642 $ 4,235 The amount of grant-date fair value expensed immediately for awards granted to retirement-eligible grantees during the nine months ended September 30, 2015 and 2014 was $1,926,000 and $1,358,000 , respectively. In connection with the vesting of restricted stock during the nine months ended September 30, 2015 and 2014 , the Company repurchased 216,700 shares and 205,568 shares, respectively, of Class A common stock to satisfy the employees’ related minimum statutory tax withholding requirements. These shares were placed in treasury with an aggregate cost basis of $5,412,000 and $3,800,000 , respectively.

Write-Off of Abandoned Developm

Write-Off of Abandoned Development Projects and Demolition Costs	9 Months Ended
	Sep. 30, 2015
Write-off of Abandoned Development Projects and Demolition Costs [Abstract]
Write-Off of Abandoned Development Projects and Demolition Costs [Text Block]	Write-Offs of Abandoned Development Projects and Demolition Costs On a quarterly basis, the Company reviews each project under development to determine whether it is probable the project will be developed. If management determines the project will not be developed, its project costs and other related expenses are written off as an abandoned development project cost. The Company abandons projects under development for a number of reasons, including, but not limited to, changes in local market conditions, increases in construction or financing costs or third party challenges related to entitlements or public financing. In addition, costs expensed to demolish existing structures, if any, are included in these amounts. The Company recorded write-offs of abandoned development projects and demolition costs of $0 and $5,778,000 during the three and nine months ended September 30, 2015 and $456,000 and $1,389,000 during the three and nine months ended September 30, 2014 , respectively. The Company recorded write-offs of abandoned development projects of unconsolidated entities of $0 and $10,191,000 during the three and nine months ended September 30, 2015 , which is included in equity in earnings (loss). There were no write-offs of abandoned development projects of unconsolidated entities during the three and nine months ended September 30, 2014 .

Impairment of Real Estate and I

Impairment of Real Estate and Impairment of Unconsolidated Entities	9 Months Ended
	Sep. 30, 2015
Impairment of Real Estate and Impairment of Unconsolidated Entities [Abstract]
Impairment of Real Estate and Impairment of Unconsolidated Entities	Impairment of Real Estate and Impairment of Unconsolidated Entities Impairment of Real Estate The Company reviews its real estate for impairment whenever events or changes indicate its carrying value may not be recoverable. In order to determine whether the carrying costs are recoverable from estimated future undiscounted cash flows, the Company uses various assumptions including future estimated net operating income, estimated holding periods, risk of foreclosure and estimated cash proceeds upon the disposition of the asset. If the carrying costs are not recoverable, the Company records an impairment charge to reduce the carrying value to estimated fair value. The assumptions used to estimate fair value are Level 2 or 3 inputs. The Company’s assumptions are based on current information. If the conditions deteriorate or if the Company’s plans regarding its assets change, additional impairment charges may occur in future periods. The impairments recorded during the periods presented represent write-downs to estimated fair value due to a change in events, such as a change in strategy for certain assets, bona fide third-party purchase offers or changes in certain assumptions, including estimated holding periods and current market conditions and the impact of these assumptions to the properties’ estimated future cash flows. The following table summarizes the Company’s impairment of real estate included in continuing operations: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Westchester's Ridge Hill (Regional Mall) Yonkers, New York $ 372,587 $ — $ 372,587 $ — Avenue at Tower City Center (Specialty Retail Center) Cleveland, Ohio — — — 72,473 Office Buildings: Illinois Science and Technology Park Skokie, Illinois 26,246 — 26,246 — Terminal Tower Cleveland, Ohio — — — 42,208 Post Office Plaza Cleveland, Ohio — — — 14,378 Land inventory Las Vegas, Nevada 16,307 — 16,307 — Other 10,323 966 10,323 1,736 Total $ 425,463 $ 966 $ 425,463 $ 130,795 During the three months ended September 30, 2015, the Company decided to pursue the partial sale, through a joint venture, of three of its consolidated regional malls, including Westchester's Ridge Hill . At September 30, 2015, discussions with a potential joint venture partner are ongoing and remain subject to further negotiation and applicable due diligence periods. The advanced status of the discussions triggered management to update its undiscounted cash flow analysis including its probability weighted estimated holding period of each asset. In each case the Company increased the likelihood of a near-term partial sale to a 70% probability at an estimated selling price equal to that indicated by the potential joint venture partner. The Company assigned a 30% probability that each of these assets would be held long-term. As a result, the updated estimated probability weighted undiscounted cash flows exceeded the carrying value of two of the malls but no longer exceeded the carrying value of Westchester’s Ridge Hill , requiring the Company to adjust the carrying value to its estimated fair value. The Company had been considering strategies to recapitalize Westchester’s Ridge Hill in the past but had not formally marketed or entered into advanced discussions until the three months ended September 30, 2015. The previous undiscounted cash flow analysis assigned a 10% probability of near-term sale. In order to adjust the carrying value of Westchester’s Ridge Hill to its estimated fair value, the Company recorded an impairment charge of $372,587,000 during the three months ended September 30, 2015. The Company continues to execute its strategy of focusing on core products located in core markets. In executing this strategy, the Company had been marketing for sale all operating assets at Illinois Science & Technology Park in Skokie, Illinois. During 2015, the Company had several interested parties in the assets at pricing that approximated the carrying value of the assets. During the three months ended September 30, 2015, the high bidder withdrew their offer and certain market conditions, including the loss of possible redevelopment incentives, negatively impacted the pricing from other interested parties. At September 30, 2015, discussions with a potential purchaser are ongoing and remain subject to further negotiation. Based on these factors, the Company increased the likelihood of a near-term sale and reduced the pricing in such scenario in its estimated probability weighted undiscounted cash flows. As a result, these estimated undiscounted cash flows no longer exceeds the carrying value of the assets, requiring the Company to adjust the carrying value to its estimated fair value. As such, the Company recorded an impairment charge of $26,246,000 during the three months ended September 30, 2015. The Company currently owns 13.5 acres of land located in Las Vegas, Nevada, which is included in land inventory on its consolidated balance sheet. The Company has been marketing the land for sale for over twelve months without closing a sale of any of the parcels. During the three months ended September 30, 2015, it became evident the expected sale price was less than originally estimated and lower than carrying value. The Company has a letter of intent for a portion of the land and continues to market the remaining parcels. Using the letter of intent pricing, in addition to other information gathered from other market participants, including verbal bids, the Company adjusted its estimated selling price, less cost to sell, of this land, which was less than its carrying value. As such, the Company recorded an impairment charge of $16,307,000 during the three months ended September 30, 2015. The Company began negotiations for the sale of several operating assets in Cleveland, Ohio during the three months ended June 30, 2014. At June 30, 2014, discussions with a potential purchaser were at various stages for each of the assets and remained subject to further negotiation and applicable due diligence periods. Based on the advanced status of the discussions, the Company reviewed and adjusted the estimated holding periods of each applicable asset and in each case increased the likelihood of a near term sale. As a result, the estimated probability weighted undiscounted cash flows no longer exceed the carrying value of certain assets, requiring the Company to adjust the carrying value of those assets as described in the above table, to their estimated fair value. During the three months ended September 30, 2014, the negotiations with the potential buyer ceased, as mutually agreeable terms could not be reached. Impairment of Real Estate - Fair Value Information The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of the impairment of real estate for the nine months ended September 30, 2015 and 2014 : Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Technique Unobservable Input Range of Input Values (in thousands) September 30, 2015 Impairment of real estate $ 630,797 Indicative bids Indicative bids N/A (1) Impairment of real estate $ 5,128 Comparable property market analysis Price per square foot $18 per square foot September 30, 2014 Impairment of real estate $ 44,200 Discounted cash flows Market capitalization rate 8.0% - 10.0% Discount rate 10.5% - 12.0% Impairment of real estate $ 38,750 Indicative bids Indicative bids N/A (1) (1) These fair value measurements were derived from bona fide purchase offers from third party prospective buyers, subject to the Company’s corroboration for reasonableness. Impairment of Unconsolidated Entities The Company reviews its portfolio of unconsolidated entities for other-than-temporary impairments whenever events or changes indicate its carrying value in the investments may be in excess of fair value. An equity method investment’s value is impaired if management’s estimate of its fair value is less than the carrying value and the difference is deemed to be other-than-temporary. In estimating fair value, assumptions that may be used include comparable sale prices, market discount rates, market capitalization rates and estimated future discounted cash flows specific to the geographic region and property type, all of which are considered Level 3 inputs. For recently opened properties, assumptions also include the timing of initial property lease up. In the event initial property lease up assumptions differ from actual results, estimated future discounted cash flows may vary, resulting in impairment charges in future periods. The Company recorded $1,384,000 of impairments of unconsolidated entities during the three and nine months ended September 30, 2015 . There were no impairments of unconsolidated entities recorded during the three and nine months ended September 30, 2014 .

Net Loss on Disposition of Part

Net Loss on Disposition of Partial Interest in Development Project	9 Months Ended
	Sep. 30, 2015
Net Loss on Disposition of Partial Interest in Development Project [Abstract]
Net Loss on Disposition of Partial Interest in Development Project	Net Loss on Disposition of Partial Interest in Development Project On June 30, 2014, the Company entered into a joint venture with Greenland Atlantic Yards, LLC, a subsidiary of Shanghai-based Greenland Holding Group Company Limited (“Greenland”) to develop Pacific Park Brooklyn , a 22 acre mixed-use project in Brooklyn, New York. Greenland acquired 70% of the joint venture and will share in the total project costs in proportion to their ownership interests. The joint venture intends to co-develop the entire project including the infrastructure and vertical construction of the residential units, excluding Barclays Center arena and the under-construction B2 BKLYN apartment community. For its 70% equity interest, Greenland invested cash and assumed 70% of the nonrecourse mortgage debt on the project. The transaction resulted in net cash proceeds of $208,275,000 , net of transaction costs, during the year ended December 31, 2014 and a net loss on disposition of partial interest in development project of $19,590,000 ( $16,211,000 , net of noncontrolling interests) during the nine months ended September 30, 2014 . Upon closing, the Company determined it was not the primary beneficiary of the joint venture. As a result, the Company deconsolidated the Pacific Park Brooklyn development project and accounts for the joint venture on the equity method of accounting.

Net Gain (Loss) on Disposition

Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties	9 Months Ended
	Sep. 30, 2015
Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties [Abstract]
Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties	Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties The following table summarizes the net gain (loss) on disposition of full or partial interest in rental properties: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Office Buildings: Skylight Office Tower Cleveland, Ohio $ 1,746 $ — $ 1,746 $ — Stapleton - 3055 Roslyn Denver, Colorado — (146 ) — (146 ) Other — — — (467 ) $ 1,746 $ (146 ) $ 1,746 $ (613 ) Effective April 1, 2014, the Company adopted the new accounting guidance for reporting discontinued operations. As a result, the dispositions summarized above did not qualify for discontinued operations. The gain (loss) on the dispositions is included in net gain (loss) on disposition of full or partial interest in rental properties.

Net Gain on Change in Control o

Net Gain on Change in Control of Interests	9 Months Ended
	Sep. 30, 2015
Net Gain on Change in Control of Interests [Abstract]
Net Gain on Change in Control of Interests	Net Gain on Change in Control of Interests The following table summarizes the net gain on change in control of interests: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) University Park at MIT Cambridge, Massachusetts $ — $ — $ 463,643 $ — Apartment Communities: Cherry Tree Strongsville, Ohio — — 7,391 — Chestnut Lake Strongsville, Ohio — — 8,525 — Stratford Crossing Wadsworth, Ohio — — 8,125 — Other — — — 2,759 Total $ — $ — $ 487,684 $ 2,759 Apartment Communities In April 2015, the Company acquired its partner’s 50% equity ownership interest in three operating apartment communities ( Cherry Tree, Chestnut Lake and Stratford Crossing) in exchange for the Company’s 50% equity ownership in five operating apartment communities ( Arbor Glen, Eaton Ridge, Newport Landing, Parkwood Village and Sutton Landing ) in a non-cash transaction. Subsequent to the transaction, the Company owns 100% of the three retained operating apartment communities. See Note P – Net Gain on Disposition of Interest in Unconsolidated Entities for d etailed information on the net gain on disposition of interest in unconsolidated entities related to the five operating apartment communities exchanged. University Park at MIT In June 2015, the Company completed the share purchase and redemption agreement with its partner to acquire the partner’s 49% equity ownership interest in seven life science office properties and two parking facilities at University Park at MIT , a mixed-use life science office campus in Cambridge, Massachusetts (“MIT Assets”) . The Company used $386,156,000 of the net proceeds from the May 2015 equity offering to finance this acquisition. See Note G – Capital Stock for information on the equity offering. Prior to the acquisition, the Company owned 51% and had accounted for the MIT Assets using the equity method of accounting. Subsequent to the transaction, the Company owns 100% of the MIT Assets and has concluded it appropriate to consolidate the assets. As a result, the Company remeasured its equity interests, as required by the accounting guidance, at fair value (based upon the income approach using current rents and market cap rates and discount rates) and recorded a net gain on change in control of interests as noted above. The fair value of the acquisition was allocated as follows. All amounts are presented in thousands. Real Estate, net $ 1,121,786 Restricted cash 17,235 Notes and accounts receivable, net 1,801 Other assets (1) 103,804 1,244,626 Mortgage debt and notes payable, nonrecourse (363,147 ) Accounts payable, accrued expenses and other liabilities (2) (94,214 ) Net Assets Acquired $ 787,265 Net gain on change in control of interests $ 463,643 Carrying value of previously held equity interests (62,534 ) Fair value of previously held equity interests (3) 401,109 Cash paid 386,156 Total $ 787,265 (1) Primarily consists of $78,000 of in-place leases and $20,000 of below-market ground leases with weighted-average lives at the time of acquisition of 3.6 years and 60 years , respectively. (2) Primarily consists of $49,000 of below-market tenant leases and $24,000 of above-market ground leases with weighted-average lives at the time of acquisition of 3.6 years and 58 years , respectively. (3) The significant assumptions used to value the previously held equity interests in the MIT Assets were determined to be Level 3 inputs. The weighted-average discount rate applied to cash flows and the weighted-average terminal capitalization rate were 7.0% and 6.0% , respectively. Pro Forma Information The following unaudited supplemental pro forma operating data is presented for the nine months ended September 30, 2015 and 2014 , as if the step acquisition related to the MIT Assets was effective January 1, 2014. The gain on change in control of interests related to this acquisition was adjusted to the assumed acquisition date. The unaudited supplemental pro forma operating data is not necessarily indicative of what the Company’s actual results of operations would have been assuming the transactions had been effective as set forth above, nor do they purport to represent the Company’s results of operations for future periods. The qualitative and quantitative effect to the pro forma operating data related to the remaining acquisitions described in the table above was not material. Pro Forma Adjustments Nine Months Ended September 30, 2015 Remove: Net Gain on Change in Control of Interests (1) Other Pro Forma Adjustments (2) Pro Forma Nine Months Ended September 30, 2015 (in thousands, except share and per share data) Revenues $ 785,898 $ — $ 43,742 $ 829,640 Loss from continuing operations $ (57,038 ) $ (283,828 ) $ (15,211 ) $ (356,077 ) Net loss attributable to common shareholders $ (52,672 ) $ (283,828 ) $ (15,211 ) $ (351,711 ) Weighted average shares outstanding - Basic 230,778,223 230,778,223 Net loss attributable to common shareholders - Basic $ (0.23 ) $ (1.52 ) Weighted average shares outstanding - Diluted 230,778,223 230,778,223 Net loss attributable to common shareholders - Diluted $ (0.23 ) $ (1.52 ) Pro Forma Adjustments Nine Months Ended September 30, 2014 Add: Net Gain on Change in Control of Interests (1) Other Pro Forma Adjustments (2) Pro Forma Nine Months Ended September 30, 2014 (in thousands, except share and per share data) Revenues $ 713,917 $ — $ 67,482 $ 781,399 Earnings (loss) from continuing operations $ (100,526 ) $ 283,828 $ (26,153 ) $ 157,149 Net earnings (loss) attributable to common shareholders $ (76,786 ) $ 283,828 $ (26,153 ) $ 180,889 Weighted average shares outstanding - Basic 198,328,900 198,328,900 Net earnings (loss) attributable to common shareholders - Basic $ (0.39 ) $ 0.89 Weighted average shares outstanding - Diluted 198,328,900 231,151,937 Net earnings (loss) attributable to common shareholders - Diluted $ (0.39 ) $ 0.82 (1) Gain on change in control of interests of $463,643 , net of tax of $179,815 . (2) Represents additional depreciation and amortization expense related to the increased basis of real estate and intangible assets, plus pro forma earnings of the 100% ownership interests, less actual equity in earnings related to the Company’s 51% prior ownership for the periods presented.

Loss on Extinguishment of Debt

Loss on Extinguishment of Debt	9 Months Ended
	Sep. 30, 2015
Extinguishment of Debt Disclosures [Abstract]
Loss on Extinguishment of Debt	Loss on Extinguishment of Debt For the three and nine months ended September 30, 2015 , the Company recorded $23,609,000 and $61,953,000 , respectively, as loss on extinguishment of debt. For the three and nine months ended September 30, 2014 , the Company recorded $49,000 and $927,000 , respectively, as loss on extinguishment of debt. The loss on extinguishment of debt recorded for 2015 primarily relates to the February, March and July 2015 separate, privately negotiated exchange transactions involving a portion of the Company’s 2016, 2018 and 2020 Senior Notes. See Note D – Convertible Senior Debt for detailed information on the non-tax deductible loss on extinguishment of debt.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense (benefit) was $(179,646,000) and $(365,000) for the three months ended September 30, 2015 and 2014 , respectively, and $3,399,000 and $(43,381,000) for the nine months ended September 30, 2015 and 2014 , respectively. The difference in recorded income tax expense/benefit versus income tax expense/benefit computed at the statutory federal income tax rate is primarily attributable to state income taxes, changes in state net operating losses, additional general business credits, changes to valuation allowances associated with certain deferred tax assets, and various permanent differences between pre-tax GAAP income and taxable income. The most significant permanent difference during the three and nine months ended September 30, 2015 was the non-tax deductible inducement payments recorded as a loss on extinguishment of debt in connection with the separate, privately negotiated exchanges of a portion of the Company’s Senior Notes. At December 31, 2014 , the Company had a federal net operating loss carryforward for tax purposes of $307,200,000 expiring in the years ending December 31, 2029 through 2034, a charitable contribution deduction carryforward of $16,234,000 expiring in the years ending December 31, 2015 through 2019, general business credit carryovers of $36,779,000 expiring in the years ending December 31, 2018 through 2034, and an alternative minimum tax (“AMT”) credit carryforward of $27,452,000 that is available until used to reduce federal tax to the AMT amount. If the Company converts to REIT status, it is anticipated that certain subsidiaries may be treated as taxable REIT subsidiaries and would continue to be subject to corporate income taxes. In addition, the Company could be subject to corporate income taxes related to assets sold during the 10 -year period following the date of conversion, to the extent such assets had a built-in gain on the date of conversion. This gain can be offset by any remaining federal net operating loss carryforwards. Furthermore, if the Company chooses to dispose of any assets after the REIT conversion within the specified period, the Company will attempt to utilize various tax planning strategies, including Internal Revenue Code Section 1031 like-kind exchanges, to mitigate the exposure to the built-in gains tax.

Net Gain on Disposition of Inte

Net Gain on Disposition of Interest in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2015
Net Gain on Disposition of Interest in Unconsolidated Entities [Abstract]
Net Gain on Disposition of Interest in Unconsolidated Entities	Net Gain on Disposition of Interest in Unconsolidated Entities The following table summarizes the net gain on disposition of interest in unconsolidated entities which are included in equity from unconsolidated entities. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Mall at Stonecrest (Regional Mall) Atlanta, Georgia $ — $ 7,952 $ — $ 7,952 Liberty Center (Office Building) Pittsburgh, Pennsylvania — 1,237 — 1,237 Apartment Communities: Newport Landing Coventry Township, Ohio — — 5,765 — Eaton Ridge Sagamore Hills, Ohio — — 4,745 — Arbor Glen Twinsburg, Ohio — — 3,422 — Parkwood Village Brunswick, Ohio — — 2,817 — Sutton Landing Brimfield, Ohio — — 2,535 — Westwood Reserve Tampa, Florida — — — 8,904 Legacy Crossroads Cary, North Carolina — — — 6,216 Colonial Grand Tampa, Florida — — — 4,904 Legacy Arboretum Charlotte, North Carolina — — — 3,257 Barrington Place Raleigh, North Carolina — — — 1,515 Golden Gate (Specialty Retail Center) Mayfield Heights, Ohio — — — 16,440 Other 1,009 — 1,009 (350 ) $ 1,009 $ 9,189 $ 20,293 $ 50,075 In April 2015, the Company acquired its partner’s 50% equity ownership interest in three operating apartment communities ( Cherry Tree, Chestnut Lake and Stratford Crossing) in exchange for the Company’s 50% equity ownership in five operating apartment communities ( Arbor Glen, Eaton Ridge, Newport Landing, Parkwood Village and Sutton Landing ) in a non-cash transaction. As a result, the Company recorded gains on disposition of interest in unconsolidated entities as noted above during the nine months ended September 30, 2015 . See Note M – Net Gain on Change in Control of Interests for d etailed information on the net gain on change in control of interests related to the three retained operating apartment communities.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Effective April 1, 2014, the Company adopted the new accounting guidance for reporting discontinued operations. As a result, fewer rental property disposals qualify to be reported as discontinued operations. There were no rental property dispositions during the three and nine months ended September 30, 2015 that met the requirements for discontinued operations reporting. The following tables summarize the rental properties included in discontinued operations during the three and nine months ended September 30, 2014 : Property Location Square Feet Period Disposed Three Months Ended 9/30/14 Nine Months Ended 9/30/14 Commercial Group: Promenade Bolingbrook Bolingbrook, Illinois 771,000 square feet Q2-2014 — Yes Quartermaster Plaza Philadelphia, Pennsylvania 456,000 square feet Q1-2014 — Yes Mesa del Sol - 5600 University SE Albuquerque, New Mexico 87,000 square feet Q1-2014 — Yes Three Months Ended September 30, Nine Months Ended September 30, 2014 2014 (in thousands) Revenues $ — $ 7,034 Expenses Operating expenses — 3,026 Depreciation and amortization — 987 — 4,013 Gain on disposition of rental properties — 28,100 Interest expense — (5,538 ) Amortization of mortgage procurement costs — (41 ) Loss on extinguishment of debt — (448 ) Earnings before income taxes — 25,094 Income tax expense — 12,082 Earnings from discontinued operations — 13,012 Noncontrolling interest Gain on disposition of rental properties — 58 Operating loss from rental properties — (8 ) — 50 Earnings from discontinued operations attributable to Forest City Enterprises, Inc. $ — $ 12,962 The following table summarizes the pre-tax gain on disposition of rental properties: Three Months Ended September 30, Nine Months Ended September 30, 2014 2014 (in thousands) Quartermaster Plaza (Specialty Retail Center) $ — $ 26,373 Promenade Bolingbrook (Regional Mall) — 1,276 Mesa del Sol - 5600 University SE (Office Building) — 451 $ — $ 28,100

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company’s restricted stock is considered a participating security pursuant to the two-class method for computing earnings per share (“EPS”). The Class A Common Units (“Units”), which are reflected as noncontrolling interests in the Consolidated Balance Sheets, are considered convertible participating securities as they are entitled to participate in any dividends paid to the Company’s common shareholders. The Units are included in the computation of basic EPS using the two-class method. The Class A common stock issuable in connection with conversion of the 2016 Senior Notes, 2018 Senior Notes and 2020 Senior Notes is included in the computation of diluted EPS using the if-converted method. The loss from continuing operations attributable to Forest City Enterprises, Inc. for the three and nine months ended September 30, 2015 and nine months ended September 30, 2014 was allocated solely to holders of common stock as the participating security holders do not share in losses. The reconciliation of the basic and diluted EPS computations is shown in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Numerators (in thousands) Earnings (loss) from continuing operations attributable to Forest City Enterprises, Inc. $ (302,219 ) $ 686 $ (52,672 ) $ (89,748 ) Undistributed earnings allocated to participating securities — (17 ) — — Earnings (loss) from continuing operations attributable to common shareholders ‑ Basic and Diluted $ (302,219 ) $ 669 $ (52,672 ) $ (89,748 ) Net earnings (loss) attributable to Forest City Enterprises, Inc. $ (302,219 ) $ 686 $ (52,672 ) $ (76,786 ) Undistributed earnings allocated to participating securities — (17 ) — — Net earnings (loss) attributable to common shareholders ‑ Basic and Diluted $ (302,219 ) $ 669 $ (52,672 ) $ (76,786 ) Denominators Weighted average shares outstanding ‑ Basic 255,417,396 198,893,584 230,778,223 198,328,900 Effect of stock options and performance shares — 750,295 — — Weighted average shares outstanding ‑ Diluted (1) 255,417,396 199,643,879 230,778,223 198,328,900 Earnings Per Share Earnings (loss) from continuing operations attributable to common shareholders ‑ Basic and Diluted $ (1.18 ) $ — $ (0.23 ) $ (0.45 ) Net earnings (loss) attributable to common shareholders ‑ Basic and Diluted $ (1.18 ) $ — $ (0.23 ) $ (0.39 ) (1) Incremental shares from dilutive options, restricted stock, performance shares and convertible units aggregating 17,959,278 , 25,382,494 and 37,238,228 , for the three and nine months ended September 30, 2015 and the nine months ended September 30, 2014 , respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive due to the loss from continuing operations. Incremental shares from restricted stock, Class A common units and convertible securities aggregating 36,120,026 for the three months ended September 30, 2014 were not included in the computation of diluted EPS because their effect is anti-dilutive. Weighted-average options, restricted stock and performance shares of 2,666,555 and 2,304,807 for the three and nine months ended September 30, 2015 , respectively, and 3,240,497 and 3,470,348 for the three and nine months ended September 30, 2014 , respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive under the treasury stock method.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The following tables summarize financial data for the Company’s reportable operating segments. All amounts are presented in thousands. September 30, 2015 December 31, 2014 Identifiable Assets Commercial Group $ 5,015,253 $ 4,210,714 Residential Group 3,583,466 3,172,188 Arena 955,409 955,570 Land Development Group 275,502 250,833 Corporate Activities 130,611 225,635 $ 9,960,241 $ 8,814,940 Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 2015 2014 2015 2014 Revenues Operating Expenses Commercial Group $ 159,706 $ 129,345 $ 422,858 $ 383,221 $ 79,720 $ 70,224 $ 226,929 $ 224,929 Residential Group 79,703 63,303 230,223 190,525 44,715 43,704 134,117 127,046 Arena 24,637 25,039 80,497 84,968 17,199 17,105 55,019 55,399 Land Development Group 25,011 17,056 52,320 55,203 11,869 5,358 23,234 24,307 Corporate Activities — — — — 19,706 13,763 61,393 35,383 $ 289,057 $ 234,743 $ 785,898 $ 713,917 $ 173,209 $ 150,154 $ 500,692 $ 467,064 Depreciation and Amortization Interest and Other Income Commercial Group $ 48,819 $ 29,304 $ 115,392 $ 91,756 $ 1,708 $ 1,579 $ 5,614 $ 5,585 Residential Group 21,670 16,608 62,363 49,660 3,030 5,101 9,790 18,145 Arena 8,811 8,793 26,403 25,999 — — — — Land Development Group 28 88 540 269 4,213 3,384 12,394 10,091 Corporate Activities 638 718 2,084 2,154 44 32 179 153 $ 79,966 $ 55,511 $ 206,782 $ 169,838 $ 8,995 $ 10,096 $ 27,977 $ 33,974 Interest Expense Capital Expenditures Commercial Group $ 29,040 $ 31,093 $ 89,211 $ 97,938 $ 50,788 $ 17,655 $ 122,001 $ 98,033 Residential Group 6,019 8,030 12,629 23,032 83,250 62,795 199,433 187,656 Arena 9,415 10,895 29,650 30,101 12,500 2,890 17,022 9,442 Land Development Group (189 ) (287 ) (1,059 ) (572 ) — 20 15 36 Corporate Activities 4,722 9,581 18,904 28,418 — — 19 15 $ 49,007 $ 59,312 $ 149,335 $ 178,917 $ 146,538 $ 83,360 $ 338,490 $ 295,182 The Company uses Funds From Operations (“FFO”) to report its operating results. FFO, a non-GAAP measure as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), is a measure of performance used by publicly traded REITs. Although the Company is not a REIT, management believes it is important to publish this measure to allow for easier comparison of its performance to its peers. FFO is defined by NAREIT as net earnings excluding the following items at the Company’s proportional share: i) gain (loss) on disposition of rental properties, divisions and other investments (net of tax); ii) non-cash charges for real estate depreciation and amortization; iii) impairment of depreciable real estate (net of tax); and iv) cumulative or retrospective effect of change in accounting principle (net of tax). The Company believes that, although its business has many facets such as development, acquisitions, disposals, and property management, the core of its business is the recurring operations of its portfolio of real estate assets. The Company’s Chief Executive Officer, the chief operating decision maker, uses FFO, as presented, to assess performance of the Company’s real estate assets by reportable operating segment because it provides information on the financial performance of the core real estate portfolio operations. FFO measures the profitability of a real estate segment’s operations of collecting rent, paying operating expenses and servicing its debt. The reconciliations of net earnings (loss) to FFO by segment are shown in the following tables. All amounts are presented in thousands. Three Months Ended September 30, 2015 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ (407,249 ) $ 604 $ (5,733 ) $ 15,027 $ 95,132 $ (302,219 ) Depreciation and amortization – Real Estate Groups 60,852 25,549 5,075 14 — 91,490 Net gain on disposition of full or partial interests in rental properties (1,746 ) — — — — (1,746 ) Gain on disposition of unconsolidated entities (1,009 ) — — — — (1,009 ) Impairment of consolidated depreciable real estate 400,733 8,423 — — — 409,156 Income tax expense (benefit) on non-FFO: Gain on disposition of rental properties — — — — 1,088 1,088 Impairment of depreciable real estate — — — — (158,805 ) (158,805 ) FFO attributable to Forest City Enterprises, Inc. $ 51,581 $ 34,576 $ (658 ) $ 15,041 $ (62,585 ) $ 37,955 Three Months Ended September 30, 2014 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ 12,190 $ 5,512 $ (5,575 ) $ 13,171 $ (24,612 ) $ 686 Depreciation and amortization – Real Estate Groups 41,725 24,175 4,986 41 — 70,927 Net loss on disposition of full or partial interests in rental properties 173 — — — — 173 Gain on disposition of unconsolidated entities (9,189 ) — — — — (9,189 ) Income tax expense on non-FFO: Gain on disposition of rental properties — — — — 3,310 3,310 FFO attributable to Forest City Enterprises, Inc. $ 44,899 $ 29,687 $ (589 ) $ 13,212 $ (21,302 ) $ 65,907 Nine Months Ended September 30, 2015 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ 52,631 $ 54,034 $ (15,763 ) $ 38,254 $ (181,828 ) $ (52,672 ) Depreciation and amortization – Real Estate Groups 152,708 74,657 15,192 427 — 242,984 Net gain on disposition of full or partial interests in rental properties (1,746 ) — — — — (1,746 ) Gain on disposition of unconsolidated entities (1,009 ) (19,284 ) — — — (20,293 ) Impairment of consolidated depreciable real estate 400,733 8,423 — — — 409,156 Income tax expense (benefit) on non-FFO: Gain on disposition of rental properties — — — — 8,549 8,549 Impairment of depreciable real estate — — — — (158,805 ) (158,805 ) FFO attributable to Forest City Enterprises, Inc. $ 603,317 $ 117,830 $ (571 ) $ 38,681 $ (332,084 ) $ 427,173 Nine Months Ended September 30, 2014 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ (111,414 ) $ 48,613 $ (13,378 ) $ 36,257 $ (36,864 ) $ (76,786 ) Depreciation and amortization – Real Estate Groups 130,198 71,367 14,927 116 — 216,608 Net loss on disposition of full or partial interests in rental properties 640 — — — — 640 Gain on disposition of unconsolidated entities (25,279 ) (24,796 ) — — — (50,075 ) Impairment of consolidated depreciable real estate 129,059 — — — — 129,059 Discontinued operations: Depreciation and amortization – Real Estate Groups 986 — — — — 986 Gain on disposition of rental properties (28,042 ) — — — — (28,042 ) Income tax expense (benefit) on non-FFO: Gain on disposition of rental properties — — — — 32,028 32,028 Impairment of depreciable real estate — — — — (50,053 ) (50,053 ) FFO attributable to Forest City Enterprises, Inc. $ 96,148 $ 95,184 $ 1,549 $ 36,373 $ (54,889 ) $ 174,365

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and should be read in conjunction with the consolidated financial statements and related notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2014 , as amended. The results of interim periods are not necessarily indicative of results for the full year or any subsequent period. In management’s opinion, all adjustments (consisting solely of normal recurring matters) necessary for a fair statement of financial position, results of operations and cash flows as of and for the periods presented have been included.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Company to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and related notes. Some of the critical estimates include, but are not limited to, determination of the primary beneficiary of variable interest entities (“VIEs”), estimates of useful lives for long-lived assets, reserves for collection on accounts and notes receivable and other investments, the fair value estimate of redeemable noncontrolling interest, net gain on change in control of interests, impairment of real estate and other-than-temporary impairments on equity method investments. Actual results could differ from those estimates.
New Accounting Guidance	New Accounting Guidance The following accounting pronouncements were adopted during the nine months ended September 30, 2015 : In January 2015, the FASB issued an amendment to the accounting guidance to eliminate the concept of extraordinary items from GAAP. The presentation and disclosure guidance for items that are unusual in nature or occur infrequently has been retained and expanded to include items that are both unusual in nature and infrequently occurring. This guidance was early adopted effective January 1, 2015 and did not have a material impact on the Company’s consolidated financial statements. The following new accounting pronouncements will be adopted on their respective effective dates: In May 2014, the FASB issued an amendment to the accounting guidance for revenue from contracts with customers. The core principle of this guidance is an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance defines steps an entity should apply to achieve the core principle. This guidance is effective for annual reporting periods beginning after December 15, 2017 and interim reporting periods within that annual period and allows for both retrospective and modified retrospective methods of adoption. Early adoption is permitted for annual periods beginning after December 15, 2016. The Company is currently in the process of determining the method of adoption and evaluating the impact of adopting this guidance on its consolidated financial statements. In August 2014, the FASB issued an amendment to the accounting guidance on disclosure of uncertainties about an entity’s ability to continue as a going concern. This guidance requires management to assess the Company’s ability to continue as a going concern and to provide disclosures under certain circumstances. This guidance is effective for annual reporting periods ending after December 15, 2016 and interim reporting periods thereafter. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In February 2015, the FASB issued an amendment to the consolidation accounting guidance. This guidance changes the required analysis to determine whether certain types of legal entities should be consolidated. The amendment modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and may affect the consolidation analysis of entities involved in VIEs, particularly those having fee arrangements and related party relationships. This guidance is effective for fiscal years, and for interim reporting periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In April 2015, the FASB issued an Accounting Standards Update to simplify the presentation of debt issuance costs. This guidance requires that third-party debt issuance costs be presented in the balance sheet as a direct deduction from the carrying value of the debt. Debt issuance costs related to revolving lines of credit are not within the score of this new guidance. This guidance is effective for fiscal years, and for interim reporting periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule of summarized information of equity method investments	Summarized financial information for BBH is as follows: Nine Months Ended September 30, 2015 2014 (in thousands) Operations: Revenues $ 90,675 $ 92,790 Operating expenses (135,256 ) (180,482 ) Interest expense, net (9,191 ) (9,209 ) Depreciation and amortization (5,037 ) (5,754 ) Net loss (pre-tax) $ (58,809 ) $ (102,655 ) Company's portion of net loss (pre-tax) $ (38,435 ) $ (2,361 )
Components of accumulated other comprehensive income (loss)	The following table summarizes the components of accumulated other comprehensive income (loss) (“accumulated OCI”): September 30, 2015 December 31, 2014 (in thousands) Unrealized losses on foreign currency translation $ 90 $ 137 Unrealized losses on interest rate contracts (1) 81,602 96,084 81,692 96,221 Income tax benefit (31,651 ) (37,281 ) Noncontrolling interest (82 ) (94 ) Accumulated Other Comprehensive Loss $ 49,959 $ 58,846 (1) Included in the amounts as of September 30, 2015 and December 31, 2014 are $58,223 and $73,536 , respectively, of unrealized loss on an interest rate swap associated with the New York Times office building on its nonrecourse mortgage debt with a notional amount of $640,000 . This swap effectively fixes the mortgage at an all-in lender interest rate of 6.40% and expires in September 2017.
Schedule of changes of accumulated other comprehensive income (loss) by component	The following table summarizes the changes, net of tax and noncontrolling interest, of accumulated OCI by component: Foreign Currency Translation Interest Rate Contracts Total (in thousands) Nine Months Ended September 30, 2015 Balance, January 1, 2015 $ (84 ) $ (58,762 ) $ (58,846 ) Gain (loss) recognized in accumulated OCI 29 (9,524 ) (9,495 ) Loss reclassified from accumulated OCI — 18,382 18,382 Total other comprehensive income 29 8,858 8,887 Balance, September 30, 2015 $ (55 ) $ (49,904 ) $ (49,959 ) Nine Months Ended September 30, 2014 Balance, January 1, 2014 $ (116 ) $ (76,466 ) $ (76,582 ) Gain (loss) recognized in accumulated OCI 48 (6,235 ) (6,187 ) Loss reclassified from accumulated OCI — 21,461 21,461 Total other comprehensive income 48 15,226 15,274 Balance, September 30, 2014 $ (68 ) $ (61,240 ) $ (61,308 )
Losses reclassified from accumulated other comprehensive income (loss)	The following table summarizes losses reclassified from accumulated OCI and their location on the Consolidated Statements of Operations: Accumulated OCI Components Loss Reclassified from Accumulated OCI Location on Consolidated Statements of Operations (in thousands) Nine Months Ended September 30, 2015 Interest rate contracts $ 28,087 Interest expense Interest rate contracts (900 ) Net gain on change in control of interests Interest rate contracts 2,852 Earnings (loss) from unconsolidated entities, gross of tax 30,039 Total before income tax and noncontrolling interest (11,645 ) Income tax benefit (12 ) Noncontrolling interest $ 18,382 Loss reclassified from accumulated OCI Nine Months Ended September 30, 2014 Interest rate contracts $ 28,413 Interest expense Interest rate contracts 3,666 Discontinued operations Interest rate contracts 3,005 Earnings (loss) from unconsolidated entities, gross of tax 35,084 Total before income tax and noncontrolling interest (13,597 ) Income tax benefit (26 ) Noncontrolling interest $ 21,461 Loss reclassified from accumulated OCI
Supplemental non-cash disclosures	The following table summarizes the impact to the applicable balance sheet line items as a result of various non-cash transactions. Non-cash transactions primarily include dispositions of operating properties whereby the nonrecourse mortgage debt is assumed by the buyer, acquisition of rental properties, exchanges of Units or senior notes for Class A common stock, changes in consolidation methods of fully consolidated properties and equity method investments due to the occurrence of triggering events including, but not limited to, disposition of a partial interest in rental properties or development projects or acquisition of a partner’s interest, change in construction payables and other capital expenditures, change in the fair market value of redeemable noncontrolling interest and capitalization of stock-based compensation granted to employees directly involved with the development and construction of real estate. Nine Months Ended September 30, 2015 2014 (in thousands) Non-cash changes to balance sheet - Investing Activities Projects under construction and development $ 84,971 $ (351,905 ) Completed rental properties 827,125 (136,008 ) Restricted cash 8,969 20 Notes and accounts receivable — 2,728 Investments in and advances to affiliates - due to dispositions or change in control 71,438 97,154 Investments in and advances to affiliates - other activity 20,397 25,509 Total non-cash effect on investing activities $ 1,012,900 $ (362,502 ) Non-cash changes to balance sheet - Financing Activities Accounts payable, accrued expenses and other liabilities $ — $ 10,683 Nonrecourse mortgage debt and notes payable 448,741 (342,960 ) Convertible senior debt (424,433 ) — Class A common stock 7,000 225 Additional paid-in capital 473,614 34,741 Treasury stock (6,503 ) — Redeemable noncontrolling interest — 28,390 Noncontrolling interest (53,188 ) (73,535 ) Total non-cash effect on financing activities $ 445,231 $ (342,456 )

Mortgage Debt and Notes Payab32

Mortgage Debt and Notes Payable, Nonrecourse (Tables)	9 Months Ended
	Sep. 30, 2015
Mortgage Debt and Notes Payable, Nonrecourse [Abstract]
Composition of mortgage debt and notes payable, nonrecourse maturities	The following table summarizes the mortgage debt and notes payable, nonrecourse maturities as of September 30, 2015 : Years Ending December 31, (in thousands) 2015 $ 75,578 2016 283,047 2017 1,259,953 2018 360,710 2019 363,087 Thereafter 2,158,794 Total $ 4,501,169

Revolving Credit Facility (Tabl

Revolving Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Available credit on the Credit Facility	The following table summarizes available credit on the Credit Facility: September 30, 2015 December 31, 2014 (in thousands) Maximum borrowings $ 500,000 $ 500,000 Less outstanding balances: Borrowings — — Letters of credit 70,276 85,768 Surety bonds — — Available credit $ 429,724 $ 414,232

Convertible Senior Debt (Tables

Convertible Senior Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Convertible Senior Debt	The following table summarizes the Company’s convertible senior debt: September 30, 2015 December 31, 2014 (in thousands) 5.000% Notes due 2016 $ 1,368 $ 50,000 4.250% Notes due 2018 154,526 350,000 3.625% Notes due 2020 116,355 300,000 Total $ 272,249 $ 700,000
Schedule of Exchange Agreement Transactions	The following table summarizes exchange agreement transactions completed during the nine months ended September 30, 2015 : Agreement Date Issuance Aggregate Principal Class A Common Shares Issued Cash Payments to Noteholders Loss on Extinguishment (in thousands, except share data) First Quarter-2015 February 26, 2015 2018 Senior Notes $ 120,087 5,541,115 $ 13,641 $ 13,372 February 26, 2015 2020 Senior Notes 128,238 5,297,885 19,283 19,038 March 5, 2015 2016 Senior Notes 40,481 2,805,513 6,163 2,732 Total $ 288,806 13,644,513 $ 39,087 $ 35,142 Third Quarter-2015 July 15, 2015 2016 Senior Notes $ 8,151 555,016 $ 1,305 $ 489 July 15/16, 2015 2018 Senior Notes 75,387 3,478,511 13,052 11,664 July 15, 2015 2020 Senior Notes 55,407 2,289,013 11,371 10,500 Total $ 138,945 6,322,540 $ 25,728 $ 22,653 Grand Total $ 427,751 19,967,053 $ 64,815 $ 57,795

Derivative Instruments and He35

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The following table summarizes the fair values and location in the Consolidated Balance Sheets of all derivative instruments: Fair Value of Derivative Instruments September 30, 2015 Asset Derivatives (included in Other Assets) Liability Derivatives (included in Accounts Payable, Accrued Expenses and Other Liabilities) Current Notional Fair Value Current Notional Fair Value (in thousands) Derivatives Designated as Hedging Instruments Interest rate caps $ 330,000 $ — $ — $ — Interest rate swaps — — 734,497 61,096 TROR 149,200 7,977 322,785 10,282 Total $ 479,200 $ 7,977 $ 1,057,282 $ 71,378 Derivatives Not Designated as Hedging Instruments Interest rate caps $ 316,396 $ — $ — $ — TROR 101,190 5,435 38,356 14,200 Total $ 417,586 $ 5,435 $ 38,356 $ 14,200 December 31, 2014 Derivatives Designated as Hedging Instruments Interest rate caps $ 330,000 $ 114 $ — $ — Interest rate swaps — — 869,154 75,281 TROR 149,200 6,379 217,785 11,983 Total $ 479,200 $ 6,493 $ 1,086,939 $ 87,264 Derivatives Not Designated as Hedging Instruments Interest rate caps $ 205,522 $ 12 $ — $ — TROR 101,410 1,857 38,425 15,098 Total $ 306,932 $ 1,869 $ 38,425 $ 15,098
Derivative Instruments Gain (Loss) in Statement of Financial Performance and Financial Position	The following table summarizes the impact of gains and losses related to derivative instruments designated as cash flow hedges included in the accumulated OCI section of the Consolidated Balance Sheets and in equity in earnings (loss) and interest expense in the Consolidated Statements of Operations: Loss Reclassified from Accumulated OCI Derivatives Designated as Cash Flow Hedging Instruments Gain (Loss) Recognized in OCI (Effective Portion) Location on Consolidated Statements of Operations Effective Amount Ineffective Amount (in thousands) Three Months Ended September 30, 2015 Interest rate caps and interest rate swaps $ (7,854 ) Interest expense $ (9,759 ) $ (16 ) Net gain on change in control of interests — — Earnings (loss) from unconsolidated entities, gross of tax (885 ) — Total $ (7,854 ) $ (10,644 ) $ (16 ) Nine Months Ended September 30, 2015 Interest rate caps and interest rate swaps $ (15,557 ) Interest expense $ (28,060 ) $ (27 ) Net gain on change in control of interests 900 — Earnings (loss) from unconsolidated entities, gross of tax (2,851 ) (1 ) Total $ (15,557 ) $ (30,011 ) $ (28 ) Three Months Ended September 30, 2014 Interest rate caps and interest rate swaps $ 1,288 Interest expense $ (9,561 ) $ (1 ) Earnings (loss) from unconsolidated entities, gross of tax (1,002 ) — Total $ 1,288 $ (10,563 ) $ (1 ) Nine Months Ended September 30, 2014 Interest rate caps and interest rate swaps $ (10,166 ) Interest expense $ (28,412 ) $ (1 ) Discontinued operations — (3,666 ) Earnings (loss) from unconsolidated entities, gross of tax (3,005 ) — Total $ (10,166 ) $ (31,417 ) $ (3,667 )
Impact of Gains (Losses) Related to Derivative Instruments	The following table summarizes the impact of gains and losses related to derivative instruments not designated as cash flow hedges in the Consolidated Statements of Operations: Net Gain (Loss) Recognized Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Derivatives Designated as Fair Value Hedging Instruments TROR (1) $ 848 $ 68 $ 3,299 $ 2,279 Derivatives Not Designated as Hedging Instruments Interest rate caps and interest rate swap $ (180 ) $ 62 $ (195 ) $ (41 ) TROR (1,143 ) (42 ) 4,476 633 Total $ (1,323 ) $ 20 $ 4,281 $ 592 (1) The net gain (loss) recognized in interest expense from the change in fair value of the underlying TROR borrowings was $(848) and $(3,299) for the three and nine months ended September 30, 2015 , respectively, and $(68) and $(2,279) for the three and nine months ended September 30, 2014 , respectively, offsetting the gain (loss) recognized on the TROR.
Collateral Posted for Derivatives in Liability Positions	The following table summarizes information about collateral posted for derivatives in liability positions as of September 30, 2015 : Collateral Information Notional Amount Fair Value Prior to Nonperformance Risk Nonperformance Risk Collateral Posted Nature of Collateral Credit Risk Contingent Feature (in thousands) Property Specific Swaps $ 734,497 $ 63,553 $ (2,457 ) $ — Mortgage liens None TROR 361,141 24,426 56 50,569 Restricted cash, notes receivable, letters of credit None Total $ 1,095,638 $ 87,979 $ (2,401 ) $ 50,569

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities and Redeemable Noncontrolling Interest Measured on a Recurring Basis	The following table summarizes information about financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis (if applicable), and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value: September 30, 2015 Level 1 Level 2 Level 3 Total (in thousands) Interest rate swaps (liabilities) $ — $ (2,873 ) $ (58,223 ) $ (61,096 ) TROR (assets) — — 13,412 13,412 TROR (liabilities) — — (24,482 ) (24,482 ) Fair value adjustment to the borrowings subject to TROR — — 2,305 2,305 Redeemable noncontrolling interest (1) — — (168,226 ) (168,226 ) Total $ — $ (2,873 ) $ (235,214 ) $ (238,087 ) December 31, 2014 (in thousands) Interest rate caps (assets) $ — $ 126 $ — $ 126 Interest rate swaps (liabilities) — (1,745 ) (73,536 ) (75,281 ) TROR (assets) — — 8,236 8,236 TROR (liabilities) — — (27,081 ) (27,081 ) Fair value adjustment to the borrowings subject to TROR — — 5,604 5,604 Redeemable noncontrolling interest (1) — — (183,038 ) (183,038 ) Total $ — $ (1,619 ) $ (269,815 ) $ (271,434 ) (1) Redeemable noncontrolling interest is recorded at historical cost as of the period presented.
Reconciliation of Financial Assets and Liabilities and Redeemable Noncontrolling Interest Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs	The following table presents a reconciliation of financial assets and liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Redeemable Noncontrolling Interest Interest Rate Swaps Net TROR Fair value adjustment to the borrowings subject to TROR Total TROR Related Total (in thousands) Nine Months Ended September 30, 2015 Balance, January 1, 2015 (1) $ (183,038 ) $ (73,536 ) $ (18,845 ) $ 5,604 $ (13,241 ) $ (269,815 ) Loss attributable to redeemable noncontrolling interest 14,812 — — — — 14,812 Total realized and unrealized gains (losses): Included in earnings — — 7,775 (3,299 ) 4,476 4,476 Included in other comprehensive income — 15,313 — — — 15,313 Balance, September 30, 2015 (1) $ (168,226 ) $ (58,223 ) $ (11,070 ) $ 2,305 $ (8,765 ) $ (235,214 ) Nine Months Ended September 30, 2014 Balance, January 1, 2014 $ (171,743 ) $ (97,360 ) $ (24,346 ) $ 8,869 $ (15,477 ) $ (284,580 ) Loss attributable to redeemable noncontrolling interest 13,299 — — — — 13,299 Total realized and unrealized gains (losses): Included in earnings — — 2,912 (2,279 ) 633 633 Included in other comprehensive income — 19,067 — — — 19,067 Included in additional paid-in capital (28,390 ) — — — — (28,390 ) Balance, September 30, 2014 (1) $ (186,834 ) $ (78,293 ) $ (21,434 ) $ 6,590 $ (14,844 ) $ (279,971 ) (1) Redeemable noncontrolling interest is recorded at historical cost as of the period presented.
Significant Unobservable Inputs Used to Estimate Fair Value of Financial Instruments	The following table presents quantitative information about the significant unobservable inputs used to estimate the fair value of financial instruments measured on a recurring basis as of September 30, 2015 : Quantitative Information about Level 3 Fair Value Measurements Fair Value September 30, 2015 Valuation Technique Unobservable Input Input Values (in thousands) Credit valuation adjustment of interest rate swap $ 2,276 Potential future exposure Credit spread 4.00% TROR $ (11,070 ) Third party bond pricing Bond valuation 79.59 - 115.87 Fair value adjustment to the borrowings subject to TROR $ 2,305 Third party bond pricing Bond valuation 79.59 - 115.87
Schedule of Fair Value of Nonrecourse Mortgage Debt and Notes Payable, Bank Revolving Credit Facility and Convertible Senior Debt	The following table summarizes the fair value of nonrecourse mortgage debt and notes payable (exclusive of the fair value of derivatives), revolving credit facility and convertible senior debt: September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value (in thousands) Fixed Rate Debt $ 2,747,031 $ 3,062,517 $ 2,993,591 $ 3,421,373 Variable Rate Debt 2,026,387 2,015,261 1,944,610 1,924,823 Total $ 4,773,418 $ 5,077,778 $ 4,938,201 $ 5,346,196

Stock-Based Compensation (Tabl

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Amount of Stock-Based Compensation Costs and Related Deferred Income Tax Benefit Recognized in the Financial Statements	The following table summarizes stock-based compensation costs and related deferred income tax benefit recognized in the financial statements: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Stock option costs $ 320 $ 698 $ 985 $ 2,677 Restricted stock costs 3,349 2,833 11,950 9,136 Performance share costs 3,541 1,087 8,601 3,027 Total stock-based compensation costs 7,210 4,618 21,536 14,840 Less amount capitalized into qualifying real estate projects (1,883 ) (1,490 ) (4,967 ) (4,110 ) Amount charged to operating expenses 5,327 3,128 16,569 10,730 Depreciation expense on capitalized stock-based compensation 227 139 679 586 Total stock-based compensation expense $ 5,554 $ 3,267 $ 17,248 $ 11,316 Deferred income tax benefit $ 2,131 $ 1,214 $ 6,642 $ 4,235

Impairment of Real Estate and38

Impairment of Real Estate and Impairment of Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2015
Impairment of Real Estate and Impairment of Unconsolidated Entities [Abstract]
Schedule of Impairment of Real Estate Included in Continuing Operations	The following table summarizes the Company’s impairment of real estate included in continuing operations: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Westchester's Ridge Hill (Regional Mall) Yonkers, New York $ 372,587 $ — $ 372,587 $ — Avenue at Tower City Center (Specialty Retail Center) Cleveland, Ohio — — — 72,473 Office Buildings: Illinois Science and Technology Park Skokie, Illinois 26,246 — 26,246 — Terminal Tower Cleveland, Ohio — — — 42,208 Post Office Plaza Cleveland, Ohio — — — 14,378 Land inventory Las Vegas, Nevada 16,307 — 16,307 — Other 10,323 966 10,323 1,736 Total $ 425,463 $ 966 $ 425,463 $ 130,795
Summary of Significant Unobservable Inputs Used to Determine the Fair Value of the Impairment of Real Estate	The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of the impairment of real estate for the nine months ended September 30, 2015 and 2014 : Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Technique Unobservable Input Range of Input Values (in thousands) September 30, 2015 Impairment of real estate $ 630,797 Indicative bids Indicative bids N/A (1) Impairment of real estate $ 5,128 Comparable property market analysis Price per square foot $18 per square foot September 30, 2014 Impairment of real estate $ 44,200 Discounted cash flows Market capitalization rate 8.0% - 10.0% Discount rate 10.5% - 12.0% Impairment of real estate $ 38,750 Indicative bids Indicative bids N/A (1) (1) These fair value measurements were derived from bona fide purchase offers from third party prospective buyers, subject to the Company’s corroboration for reasonableness.

Net Gain (Loss) on Dispositio39

Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties (Tables)	9 Months Ended
	Sep. 30, 2015
Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties [Abstract]
Schedule of Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties [Table Text Block]	The following table summarizes the net gain (loss) on disposition of full or partial interest in rental properties: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Office Buildings: Skylight Office Tower Cleveland, Ohio $ 1,746 $ — $ 1,746 $ — Stapleton - 3055 Roslyn Denver, Colorado — (146 ) — (146 ) Other — — — (467 ) $ 1,746 $ (146 ) $ 1,746 $ (613 )

Net Gain on Change in Control40

Net Gain on Change in Control of Interests (Tables)	9 Months Ended
	Sep. 30, 2015
Net Gain on Change in Control of Interests [Abstract]
Schedule of Net Gain on Change in Control of Interests	The following table summarizes the net gain on change in control of interests: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) University Park at MIT Cambridge, Massachusetts $ — $ — $ 463,643 $ — Apartment Communities: Cherry Tree Strongsville, Ohio — — 7,391 — Chestnut Lake Strongsville, Ohio — — 8,525 — Stratford Crossing Wadsworth, Ohio — — 8,125 — Other — — — 2,759 Total $ — $ — $ 487,684 $ 2,759
Schedule of Fair Value of Acquisition	The fair value of the acquisition was allocated as follows. All amounts are presented in thousands. Real Estate, net $ 1,121,786 Restricted cash 17,235 Notes and accounts receivable, net 1,801 Other assets (1) 103,804 1,244,626 Mortgage debt and notes payable, nonrecourse (363,147 ) Accounts payable, accrued expenses and other liabilities (2) (94,214 ) Net Assets Acquired $ 787,265
Schedule of Consideration	Net gain on change in control of interests $ 463,643 Carrying value of previously held equity interests (62,534 ) Fair value of previously held equity interests (3) 401,109 Cash paid 386,156 Total $ 787,265 (1) Primarily consists of $78,000 of in-place leases and $20,000 of below-market ground leases with weighted-average lives at the time of acquisition of 3.6 years and 60 years , respectively. (2) Primarily consists of $49,000 of below-market tenant leases and $24,000 of above-market ground leases with weighted-average lives at the time of acquisition of 3.6 years and 58 years , respectively. (3) The significant assumptions used to value the previously held equity interests in the MIT Assets were determined to be Level 3 inputs. The weighted-average discount rate applied to cash flows and the weighted-average terminal capitalization rate were 7.0% and 6.0% , respectively.
Schedule of Pro Forma Information	The qualitative and quantitative effect to the pro forma operating data related to the remaining acquisitions described in the table above was not material. Pro Forma Adjustments Nine Months Ended September 30, 2015 Remove: Net Gain on Change in Control of Interests (1) Other Pro Forma Adjustments (2) Pro Forma Nine Months Ended September 30, 2015 (in thousands, except share and per share data) Revenues $ 785,898 $ — $ 43,742 $ 829,640 Loss from continuing operations $ (57,038 ) $ (283,828 ) $ (15,211 ) $ (356,077 ) Net loss attributable to common shareholders $ (52,672 ) $ (283,828 ) $ (15,211 ) $ (351,711 ) Weighted average shares outstanding - Basic 230,778,223 230,778,223 Net loss attributable to common shareholders - Basic $ (0.23 ) $ (1.52 ) Weighted average shares outstanding - Diluted 230,778,223 230,778,223 Net loss attributable to common shareholders - Diluted $ (0.23 ) $ (1.52 ) Pro Forma Adjustments Nine Months Ended September 30, 2014 Add: Net Gain on Change in Control of Interests (1) Other Pro Forma Adjustments (2) Pro Forma Nine Months Ended September 30, 2014 (in thousands, except share and per share data) Revenues $ 713,917 $ — $ 67,482 $ 781,399 Earnings (loss) from continuing operations $ (100,526 ) $ 283,828 $ (26,153 ) $ 157,149 Net earnings (loss) attributable to common shareholders $ (76,786 ) $ 283,828 $ (26,153 ) $ 180,889 Weighted average shares outstanding - Basic 198,328,900 198,328,900 Net earnings (loss) attributable to common shareholders - Basic $ (0.39 ) $ 0.89 Weighted average shares outstanding - Diluted 198,328,900 231,151,937 Net earnings (loss) attributable to common shareholders - Diluted $ (0.39 ) $ 0.82 (1) Gain on change in control of interests of $463,643 , net of tax of $179,815 . (2) Represents additional depreciation and amortization expense related to the increased basis of real estate and intangible assets, plus pro forma earnings of the 100% ownership interests, less actual equity in earnings related to the Company’s 51% prior ownership for the periods presented.

Net Gain on Disposition of In41

Net Gain on Disposition of Interest in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2015
Net Gain on Disposition of Interest in Unconsolidated Entities [Abstract]
Summary of Net Gain on Disposition of Interest in Unconsolidated Entities	The following table summarizes the net gain on disposition of interest in unconsolidated entities which are included in equity from unconsolidated entities. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) Mall at Stonecrest (Regional Mall) Atlanta, Georgia $ — $ 7,952 $ — $ 7,952 Liberty Center (Office Building) Pittsburgh, Pennsylvania — 1,237 — 1,237 Apartment Communities: Newport Landing Coventry Township, Ohio — — 5,765 — Eaton Ridge Sagamore Hills, Ohio — — 4,745 — Arbor Glen Twinsburg, Ohio — — 3,422 — Parkwood Village Brunswick, Ohio — — 2,817 — Sutton Landing Brimfield, Ohio — — 2,535 — Westwood Reserve Tampa, Florida — — — 8,904 Legacy Crossroads Cary, North Carolina — — — 6,216 Colonial Grand Tampa, Florida — — — 4,904 Legacy Arboretum Charlotte, North Carolina — — — 3,257 Barrington Place Raleigh, North Carolina — — — 1,515 Golden Gate (Specialty Retail Center) Mayfield Heights, Ohio — — — 16,440 Other 1,009 — 1,009 (350 ) $ 1,009 $ 9,189 $ 20,293 $ 50,075

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Summary of Rental Properties Included in Discontinued Operations	The following tables summarize the rental properties included in discontinued operations during the three and nine months ended September 30, 2014 : Property Location Square Feet Period Disposed Three Months Ended 9/30/14 Nine Months Ended 9/30/14 Commercial Group: Promenade Bolingbrook Bolingbrook, Illinois 771,000 square feet Q2-2014 — Yes Quartermaster Plaza Philadelphia, Pennsylvania 456,000 square feet Q1-2014 — Yes Mesa del Sol - 5600 University SE Albuquerque, New Mexico 87,000 square feet Q1-2014 — Yes
Summary of Operating Results of Discontinued Operations	Three Months Ended September 30, Nine Months Ended September 30, 2014 2014 (in thousands) Revenues $ — $ 7,034 Expenses Operating expenses — 3,026 Depreciation and amortization — 987 — 4,013 Gain on disposition of rental properties — 28,100 Interest expense — (5,538 ) Amortization of mortgage procurement costs — (41 ) Loss on extinguishment of debt — (448 ) Earnings before income taxes — 25,094 Income tax expense — 12,082 Earnings from discontinued operations — 13,012 Noncontrolling interest Gain on disposition of rental properties — 58 Operating loss from rental properties — (8 ) — 50 Earnings from discontinued operations attributable to Forest City Enterprises, Inc. $ — $ 12,962
Pre-tax Gain on Disposition of Rental Properties	The following table summarizes the pre-tax gain on disposition of rental properties: Three Months Ended September 30, Nine Months Ended September 30, 2014 2014 (in thousands) Quartermaster Plaza (Specialty Retail Center) $ — $ 26,373 Promenade Bolingbrook (Regional Mall) — 1,276 Mesa del Sol - 5600 University SE (Office Building) — 451 $ — $ 28,100

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted EPS Computations	The reconciliation of the basic and diluted EPS computations is shown in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Numerators (in thousands) Earnings (loss) from continuing operations attributable to Forest City Enterprises, Inc. $ (302,219 ) $ 686 $ (52,672 ) $ (89,748 ) Undistributed earnings allocated to participating securities — (17 ) — — Earnings (loss) from continuing operations attributable to common shareholders ‑ Basic and Diluted $ (302,219 ) $ 669 $ (52,672 ) $ (89,748 ) Net earnings (loss) attributable to Forest City Enterprises, Inc. $ (302,219 ) $ 686 $ (52,672 ) $ (76,786 ) Undistributed earnings allocated to participating securities — (17 ) — — Net earnings (loss) attributable to common shareholders ‑ Basic and Diluted $ (302,219 ) $ 669 $ (52,672 ) $ (76,786 ) Denominators Weighted average shares outstanding ‑ Basic 255,417,396 198,893,584 230,778,223 198,328,900 Effect of stock options and performance shares — 750,295 — — Weighted average shares outstanding ‑ Diluted (1) 255,417,396 199,643,879 230,778,223 198,328,900 Earnings Per Share Earnings (loss) from continuing operations attributable to common shareholders ‑ Basic and Diluted $ (1.18 ) $ — $ (0.23 ) $ (0.45 ) Net earnings (loss) attributable to common shareholders ‑ Basic and Diluted $ (1.18 ) $ — $ (0.23 ) $ (0.39 ) (1) Incremental shares from dilutive options, restricted stock, performance shares and convertible units aggregating 17,959,278 , 25,382,494 and 37,238,228 , for the three and nine months ended September 30, 2015 and the nine months ended September 30, 2014 , respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive due to the loss from continuing operations. Incremental shares from restricted stock, Class A common units and convertible securities aggregating 36,120,026 for the three months ended September 30, 2014 were not included in the computation of diluted EPS because their effect is anti-dilutive. Weighted-average options, restricted stock and performance shares of 2,666,555 and 2,304,807 for the three and nine months ended September 30, 2015 , respectively, and 3,240,497 and 3,470,348 for the three and nine months ended September 30, 2014 , respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive under the treasury stock method.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Financial Data of Reportable Operating Segments	The following tables summarize financial data for the Company’s reportable operating segments. All amounts are presented in thousands. September 30, 2015 December 31, 2014 Identifiable Assets Commercial Group $ 5,015,253 $ 4,210,714 Residential Group 3,583,466 3,172,188 Arena 955,409 955,570 Land Development Group 275,502 250,833 Corporate Activities 130,611 225,635 $ 9,960,241 $ 8,814,940 Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 2015 2014 2015 2014 Revenues Operating Expenses Commercial Group $ 159,706 $ 129,345 $ 422,858 $ 383,221 $ 79,720 $ 70,224 $ 226,929 $ 224,929 Residential Group 79,703 63,303 230,223 190,525 44,715 43,704 134,117 127,046 Arena 24,637 25,039 80,497 84,968 17,199 17,105 55,019 55,399 Land Development Group 25,011 17,056 52,320 55,203 11,869 5,358 23,234 24,307 Corporate Activities — — — — 19,706 13,763 61,393 35,383 $ 289,057 $ 234,743 $ 785,898 $ 713,917 $ 173,209 $ 150,154 $ 500,692 $ 467,064 Depreciation and Amortization Interest and Other Income Commercial Group $ 48,819 $ 29,304 $ 115,392 $ 91,756 $ 1,708 $ 1,579 $ 5,614 $ 5,585 Residential Group 21,670 16,608 62,363 49,660 3,030 5,101 9,790 18,145 Arena 8,811 8,793 26,403 25,999 — — — — Land Development Group 28 88 540 269 4,213 3,384 12,394 10,091 Corporate Activities 638 718 2,084 2,154 44 32 179 153 $ 79,966 $ 55,511 $ 206,782 $ 169,838 $ 8,995 $ 10,096 $ 27,977 $ 33,974 Interest Expense Capital Expenditures Commercial Group $ 29,040 $ 31,093 $ 89,211 $ 97,938 $ 50,788 $ 17,655 $ 122,001 $ 98,033 Residential Group 6,019 8,030 12,629 23,032 83,250 62,795 199,433 187,656 Arena 9,415 10,895 29,650 30,101 12,500 2,890 17,022 9,442 Land Development Group (189 ) (287 ) (1,059 ) (572 ) — 20 15 36 Corporate Activities 4,722 9,581 18,904 28,418 — — 19 15 $ 49,007 $ 59,312 $ 149,335 $ 178,917 $ 146,538 $ 83,360 $ 338,490 $ 295,182
Reconciliation of Net Earnings (Loss) to FFO by Segment	The reconciliations of net earnings (loss) to FFO by segment are shown in the following tables. All amounts are presented in thousands. Three Months Ended September 30, 2015 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ (407,249 ) $ 604 $ (5,733 ) $ 15,027 $ 95,132 $ (302,219 ) Depreciation and amortization – Real Estate Groups 60,852 25,549 5,075 14 — 91,490 Net gain on disposition of full or partial interests in rental properties (1,746 ) — — — — (1,746 ) Gain on disposition of unconsolidated entities (1,009 ) — — — — (1,009 ) Impairment of consolidated depreciable real estate 400,733 8,423 — — — 409,156 Income tax expense (benefit) on non-FFO: Gain on disposition of rental properties — — — — 1,088 1,088 Impairment of depreciable real estate — — — — (158,805 ) (158,805 ) FFO attributable to Forest City Enterprises, Inc. $ 51,581 $ 34,576 $ (658 ) $ 15,041 $ (62,585 ) $ 37,955 Three Months Ended September 30, 2014 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ 12,190 $ 5,512 $ (5,575 ) $ 13,171 $ (24,612 ) $ 686 Depreciation and amortization – Real Estate Groups 41,725 24,175 4,986 41 — 70,927 Net loss on disposition of full or partial interests in rental properties 173 — — — — 173 Gain on disposition of unconsolidated entities (9,189 ) — — — — (9,189 ) Income tax expense on non-FFO: Gain on disposition of rental properties — — — — 3,310 3,310 FFO attributable to Forest City Enterprises, Inc. $ 44,899 $ 29,687 $ (589 ) $ 13,212 $ (21,302 ) $ 65,907 Nine Months Ended September 30, 2015 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ 52,631 $ 54,034 $ (15,763 ) $ 38,254 $ (181,828 ) $ (52,672 ) Depreciation and amortization – Real Estate Groups 152,708 74,657 15,192 427 — 242,984 Net gain on disposition of full or partial interests in rental properties (1,746 ) — — — — (1,746 ) Gain on disposition of unconsolidated entities (1,009 ) (19,284 ) — — — (20,293 ) Impairment of consolidated depreciable real estate 400,733 8,423 — — — 409,156 Income tax expense (benefit) on non-FFO: Gain on disposition of rental properties — — — — 8,549 8,549 Impairment of depreciable real estate — — — — (158,805 ) (158,805 ) FFO attributable to Forest City Enterprises, Inc. $ 603,317 $ 117,830 $ (571 ) $ 38,681 $ (332,084 ) $ 427,173 Nine Months Ended September 30, 2014 Commercial Group Residential Group Arena Land Development Group Corporate Activities Total Net earnings (loss) attributable to Forest City Enterprises, Inc. $ (111,414 ) $ 48,613 $ (13,378 ) $ 36,257 $ (36,864 ) $ (76,786 ) Depreciation and amortization – Real Estate Groups 130,198 71,367 14,927 116 — 216,608 Net loss on disposition of full or partial interests in rental properties 640 — — — — 640 Gain on disposition of unconsolidated entities (25,279 ) (24,796 ) — — — (50,075 ) Impairment of consolidated depreciable real estate 129,059 — — — — 129,059 Discontinued operations: Depreciation and amortization – Real Estate Groups 986 — — — — 986 Gain on disposition of rental properties (28,042 ) — — — — (28,042 ) Income tax expense (benefit) on non-FFO: Gain on disposition of rental properties — — — — 32,028 32,028 Impairment of depreciable real estate — — — — (50,053 ) (50,053 ) FFO attributable to Forest City Enterprises, Inc. $ 96,148 $ 95,184 $ 1,549 $ 36,373 $ (54,889 ) $ 174,365

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
The components of accumulated other comprehensive income (loss) ("accumulated OCI")
Unrealized losses on foreign currency translation		$ 90	$ 137
Unrealized losses on interest rate contracts	[1]	81,602	96,084
Total unrealized losses		81,692	96,221
Income tax benefit		(31,651)	(37,281)
Noncontrolling interest		(82)	(94)
Accumulated Other Comprehensive Loss		$ 49,959	$ 58,846	$ 61,308	$ 76,582
[1]	Included in the amounts as of September 30, 2015 and December 31, 2014 are $58,223 and $73,536, respectively, of unrealized loss on an interest rate swap associated with the New York Times office building on its nonrecourse mortgage debt with a notional amount of $640,000. This swap effectively fixes the mortgage at an all-in lender interest rate of 6.40% and expires in September 2017.

Accounting Policies (Details 1)

Accounting Policies (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Schedule of Changes in Accumulated Other Comprehensive Income [Line Items]
Balance, beginning	$ (58,846,000)	$ (76,582,000)
Gain (loss) recognized in accumulated OCI	(9,495,000)	(6,187,000)
Loss reclassified from accumulated OCI	18,382,000	21,461,000
Total other comprehensive income	8,887,000	15,274,000
Balance, ending	(49,959,000)	(61,308,000)
Foreign Currency Translation
Schedule of Changes in Accumulated Other Comprehensive Income [Line Items]
Balance, beginning	(84,000)	(116,000)
Gain (loss) recognized in accumulated OCI	29,000	48,000
Loss reclassified from accumulated OCI	0	0
Total other comprehensive income	29,000	48,000
Balance, ending	(55,000)	(68,000)
Interest Rate Contracts
Schedule of Changes in Accumulated Other Comprehensive Income [Line Items]
Balance, beginning	(58,762,000)	(76,466,000)
Gain (loss) recognized in accumulated OCI	(9,524,000)	(6,235,000)
Loss reclassified from accumulated OCI	18,382,000	21,461,000
Total other comprehensive income	8,858,000	15,226,000
Balance, ending	$ (49,904,000)	$ (61,240,000)

Accounting Policies (Details 2)

Accounting Policies (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 49,007,000	$ 59,312,000	$ 149,335,000	$ 178,917,000
Net gain on change in control of interests	0	0	(487,684,000)	(2,759,000)
Discontinued operations	0	0	0	1,844,000
Equity (loss) from unconsolidated entities, gross of tax	29,132,000	(10,157,000)	20,094,000	(30,468,000)
Income tax benefit	(179,646,000)	(365,000)	3,399,000	(43,381,000)
Noncontrolling Interest	$ (891,000)	$ (4,804,000)	(4,366,000)	(10,778,000)
Loss reclassified from accumulated OCI			(18,382,000)	(21,461,000)
Reclassification out of accumulated OCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense			28,087,000	28,413,000
Net gain on change in control of interests			(900,000)
Discontinued operations				3,666,000
Equity (loss) from unconsolidated entities, gross of tax			2,852,000	3,005,000
Total before income tax and noncontrolling interest			30,039,000	35,084,000
Income tax benefit			(11,645,000)	(13,597,000)
Noncontrolling Interest			(12,000)	(26,000)
Loss reclassified from accumulated OCI			$ 18,382,000	$ 21,461,000

Accounting Policies (Details 3)

Accounting Policies (Details 3) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Non-cash changes to balance sheet - Investing Activities
Projects under construction and development	$ 84,971,000	$ (351,905,000)
Completed rental properties	827,125,000	(136,008,000)
Restricted cash	8,969,000	20,000
Notes and accounts receivable	0	2,728,000
Investments in and advances to affiliates - due to dispositions or change in control	71,438,000	97,154,000
Investments in and advances to affiliates - other activity	20,397,000	25,509,000
Total non-cash effect on investing activities	1,012,900,000	(362,502,000)
Non-cash changes to balance sheet - Financing Activities
Accounts payable, accrued expenses and other liabilities	0	10,683,000
Nonrecourse mortgage debt and notes payable	448,741,000	(342,960,000)
Convertible senior debt	(424,433,000)	0
Class A common stock	7,000,000	225,000
Additional paid-in capital	473,614,000	34,741,000
Treasury stock	(6,503,000)	0
Redeemable noncontrolling interest	0	28,390,000
Noncontrolling interest	(53,188,000)	(73,535,000)
Total non-cash effect on financing activities	$ 445,231,000	$ (342,456,000)

Accounting Policies (Details 4)

Accounting Policies (Details 4) - Brooklyn Basketball Holdings [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Revenues	$ 90,675	$ 92,790
Operating expenses	(135,256)	(180,482)
Interest expense, net	(9,191)	(9,209)
Depreciation and amortization	(5,037)	(5,754)
Net loss (pre-tax)	(58,809)	(102,655)
Company's portion of net loss (pre-tax)	$ (38,435)	$ (2,361)

Accounting Policies (Details Te

Accounting Policies (Details Textual 1) $ in Millions	Sep. 30, 2015USD ($)propertyentity
Variable Interest Entity [Line Items]
Maximum loss exposure for unconsolidated variable interest entities | $	$ 339
Primary beneficiary [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities	25
Number of properties represented by variable interest entities | property	21
Not primary beneficiary [Member]
Variable Interest Entity [Line Items]
Number of variable interest entities	64

Accounting Policies (Details 51

Accounting Policies (Details Textual 2)	1 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)shares	Sep. 30, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Sep. 30, 2014shares	Mar. 31, 2014USD ($)	Jan. 31, 2014USD ($)project	Dec. 31, 2013shares	Aug. 31, 2006property
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A shares			$ 0	$ 0
Common Unit, Outstanding | shares	1,940,788		1,940,788	2,973,190	2,973,190			3,646,755
Common Units Carrying Value	$ 99,000,000		$ 99,000,000	$ 151,663,000
BCR transaction [Member]
Related Party Transaction [Line Items]
Number of Real Estate Properties | property									30
Costs of interest transferred to affiliates of the Company							$ 14,286,000
Number of projects | project							3
Tax indemnity payment accrual						$ 1,646,000
BCR exchange transaction [Member]
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A Shares, Units Exchanged | shares	1,032,402	673,565
Common Class A [Member]
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A shares			344,000	224,000
Common Class A [Member] | BCR exchange transaction [Member]
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A Shares, Shares Issued | shares	1,032,402	673,565
Exchange of Class A Common Units for Class A shares	$ 344,000	$ 224,000
Noncontrolling Interest [Member]
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A shares			(52,663,000)	(34,358,000)
Noncontrolling Interest [Member] | BCR exchange transaction [Member]
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A shares	52,663,000	34,358,000
Additional Paid-in Capital [Member]
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A shares			$ 52,319,000	$ 34,134,000
Additional Paid-in Capital [Member] | BCR exchange transaction [Member]
Related Party Transaction [Line Items]
Exchange of Class A Common Units for Class A shares	$ 52,319,000	$ 34,134,000

Accounting Policies (Details 52

Accounting Policies (Details Textual 3) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounting Policies (Textual) [Abstract]
Unrealized losses	$ 58,223	$ 73,536
New York Times [Member]
Accounting Policies (Textual) [Abstract]
Notional amount	$ 640,000
Mortgage [Member]
Accounting Policies (Textual) [Abstract]
All-in lender interest rate	6.40%

Accounting Policies (Details 53

Accounting Policies (Details Textuals 4)	Sep. 30, 2015
Nets [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	20.00%

Mortgage Debt and Notes Payab54

Mortgage Debt and Notes Payable, Nonrecourse (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Composition of mortgage debt and notes payable, nonrecourse maturities
Mortgage debt and notes payable nonrecourse maturities total maturities in 2015	$ 75,578
Mortgage debt and notes payable nonrecourse maturities total maturities in 2016	283,047
Mortgage debt and notes payable nonrecourse maturities total maturities in 2017	1,259,953
Mortgage debt and notes payable nonrecourse maturities total maturities in 2018	360,710
Mortgage debt and notes payable nonrecourse maturities total maturities in 2019	363,087
Mortgage debt and notes payable nonrecourse maturities total maturities thereafter	2,158,794
Mortgage debt and notes payable, nonrecourse - Total	$ 4,501,169	$ 4,238,201

Revolving Credit Facility (Deta

Revolving Credit Facility (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Maximum borrowings	$ 500,000,000	$ 500,000,000
Borrowings	0	0
Letters of credit	70,276,000	85,768,000
Surety bonds	0	0
Available credit	$ 429,724,000	$ 414,232,000

Revolving Credit Facility (De56

Revolving Credit Facility (Details Textual)	9 Months Ended
	Sep. 30, 2015USD ($)option	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Total available borrowings	$ 500,000,000	$ 500,000,000
Revolving credit facility [Member]
Line of Credit Facility [Line Items]
Number of Credit Facility extension options | option	1
Term of Credit Facility extension option	12 months
Amount of available borrowings that can be used for letters of credit and/or surety bonds	$ 100,000,000
Common stock Class A | Revolving credit facility [Member]
Line of Credit Facility [Line Items]
Maximum Class A common stock repurchase amount	100,000,000
Common stock Class A or B [Member] | Revolving credit facility [Member]
Line of Credit Facility [Line Items]
Maximum dividend restriction in any four fiscal quarter period	$ 24,000,000
LIBOR [Member] | Revolving credit facility [Member]
Line of Credit Facility [Line Items]
Variable rate basis spread of debt instrument	3.50%

Convertible Senior Debt (Detail

Convertible Senior Debt (Details) - USD ($)	Jul. 16, 2015	Jul. 15, 2015	Mar. 05, 2015	Feb. 26, 2015	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Loss on extinguishment					$ (23,609,000)		$ (49,000)	$ (61,953,000)	$ (927,000)
Convertible senior debt					272,249,000			272,249,000		$ 700,000,000
Notes due 2016 [Member]
Debt Instrument [Line Items]
Debt Conversion, Original Debt, Amount		$ 8,151,000	$ 40,481,000
Cash payments to noteholders		1,305,000	6,163,000
Loss on extinguishment		489,000	$ 2,732,000
Notes due 2018 [Member]
Debt Instrument [Line Items]
Debt Conversion, Original Debt, Amount	$ 75,387,000			$ 120,087,000
Cash payments to noteholders	13,052,000			13,641,000
Loss on extinguishment	$ 11,664,000			13,372,000
Notes due 2020 [Member]
Debt Instrument [Line Items]
Debt Conversion, Original Debt, Amount		55,407,000		128,238,000
Cash payments to noteholders		11,371,000		19,283,000
Loss on extinguishment		$ 10,500,000		$ 19,038,000
2016, 2018 and 2020 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Conversion, Original Debt, Amount					138,945,000	$ 288,806,000		427,751,000
Cash payments to noteholders					25,728,000	39,087,000		64,815,000
Loss on extinguishment					22,653,000	$ 35,142,000		57,795,000
Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior debt					$ 272,249,000			$ 272,249,000		$ 700,000,000
Convertible Senior Notes [Member] | Notes due 2016 [Member]
Debt Instrument [Line Items]
Interest Rate					5.00%			5.00%		5.00%
Convertible senior debt					$ 1,368,000			$ 1,368,000		$ 50,000,000
Convertible Senior Notes [Member] | Notes due 2018 [Member]
Debt Instrument [Line Items]
Interest Rate					4.25%			4.25%		4.25%
Convertible senior debt					$ 154,526,000			$ 154,526,000		$ 350,000,000
Convertible Senior Notes [Member] | Notes due 2020 [Member]
Debt Instrument [Line Items]
Interest Rate					3.625%			3.625%		3.625%
Convertible senior debt					$ 116,355,000			$ 116,355,000		$ 300,000,000
Common Class A [Member] | Notes due 2016 [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued		555,016	2,805,513
Common Class A [Member] | Notes due 2018 [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued	3,478,511			5,541,115
Common Class A [Member] | Notes due 2020 [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued		2,289,013		5,297,885
Common Class A [Member] | 2016, 2018 and 2020 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued					6,322,540	13,644,513		19,967,053

Convertible Senior Debt (Deta58

Convertible Senior Debt (Details 1) - USD ($) $ in Thousands	Jul. 16, 2015	Jul. 15, 2015	Mar. 05, 2015	Feb. 26, 2015	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Conversion [Line Items]
Loss on extinguishment					$ (23,609)		$ (49)	$ (61,953)	$ (927)
Senior Notes due 2018 [Member]
Debt Conversion [Line Items]
Aggregate Principal	$ 75,387			$ 120,087
Cash payments to noteholders	13,052			13,641
Loss on extinguishment	$ 11,664			$ 13,372
Senior Notes due 2018 [Member] | Common stock Class A
Debt Conversion [Line Items]
Class A Common Shares Issued	3,478,511			5,541,115
Senior Notes due 2020 [Member]
Debt Conversion [Line Items]
Aggregate Principal		$ 55,407		$ 128,238
Cash payments to noteholders		11,371		19,283
Loss on extinguishment		$ 10,500		$ 19,038
Senior Notes due 2020 [Member] | Common stock Class A
Debt Conversion [Line Items]
Class A Common Shares Issued		2,289,013		5,297,885
Senior Notes due 2016 [Member]
Debt Conversion [Line Items]
Aggregate Principal		$ 8,151	$ 40,481
Cash payments to noteholders		1,305	6,163
Loss on extinguishment		$ 489	$ 2,732
Senior Notes due 2016 [Member] | Common stock Class A
Debt Conversion [Line Items]
Class A Common Shares Issued		555,016	2,805,513
2016, 2018 and 2020 Senior Notes [Member]
Debt Conversion [Line Items]
Aggregate Principal					138,945	$ 288,806		427,751
Cash payments to noteholders					25,728	39,087		64,815
Loss on extinguishment					$ 22,653	$ 35,142		$ 57,795
2016, 2018 and 2020 Senior Notes [Member] | Common stock Class A
Debt Conversion [Line Items]
Class A Common Shares Issued					6,322,540	13,644,513		19,967,053

Convertible Senior Debt (Deta59

Convertible Senior Debt (Details Textuals)	Jul. 16, 2015d	Mar. 03, 2015USD ($)shares	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)d	Sep. 30, 2014USD ($)
Debt Instrument [Line Items]
Number of trading days to determine additional interest payable | d	5					20
Loss on extinguishment of debt			$ (23,609,000)		$ (49,000)	$ (61,953,000)	$ (927,000)
Proceeds from termination and settlement of convertible note hedge		$ 17,818,000				17,818,000	$ 0
Common stock Class A
Debt Instrument [Line Items]
Shares received for termination and settlement of convertible note hedge | shares		258,350
2016, 2018 and 2020 Senior Notes [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 22,653,000	$ 35,142,000		$ 57,795,000

Derivative Instruments and He60

Derivative Instruments and Hedging Activities (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	$ 1,095,638,000
Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Asset Derivatives, Current Notional	479,200,000	$ 479,200,000
Asset Derivatives, Fair Value	7,977,000	6,493,000
Other Assets [Member] | Not Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Asset Derivatives, Current Notional	417,586,000	306,932,000
Asset Derivatives, Fair Value	5,435,000	1,869,000
Accounts Payable, Accrued Expenses and Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	1,057,282,000	1,086,939,000
Liability Derivatives, Fair Value	71,378,000	87,264,000
Accounts Payable, Accrued Expenses and Accrued Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	38,356,000	38,425,000
Liability Derivatives, Fair Value	14,200,000	15,098,000
Interest rate caps [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Asset Derivatives, Current Notional	330,000,000	330,000,000
Asset Derivatives, Fair Value	0	114,000
Interest rate caps [Member] | Other Assets [Member] | Not Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Asset Derivatives, Current Notional	316,396,000	205,522,000
Asset Derivatives, Fair Value	0	12,000
Interest rate caps [Member] | Accounts Payable, Accrued Expenses and Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	0	0
Liability Derivatives, Fair Value	0	0
Interest rate caps [Member] | Accounts Payable, Accrued Expenses and Accrued Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	0	0
Liability Derivatives, Fair Value	0	0
Interest rate swaps [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Asset Derivatives, Current Notional	0	0
Asset Derivatives, Fair Value	0	0
Interest rate swaps [Member] | Accounts Payable, Accrued Expenses and Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	734,497,000	869,154,000
Liability Derivatives, Fair Value	61,096,000	75,281,000
TROR [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	361,141,000
TROR [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Asset Derivatives, Current Notional	149,200,000	149,200,000
Asset Derivatives, Fair Value	7,977,000	6,379,000
TROR [Member] | Other Assets [Member] | Not Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Asset Derivatives, Current Notional	101,190,000	101,410,000
Asset Derivatives, Fair Value	5,435,000	1,857,000
TROR [Member] | Accounts Payable, Accrued Expenses and Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	322,785,000	217,785,000
Liability Derivatives, Fair Value	10,282,000	11,983,000
TROR [Member] | Accounts Payable, Accrued Expenses and Accrued Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Fair Value of Derivative Instruments
Liability Derivatives, Current Notional	38,356,000	38,425,000
Liability Derivatives, Fair Value	$ 14,200,000	$ 15,098,000

Derivative Instruments and He61

Derivative Instruments and Hedging Activities (Details 1) - Cash Flow Hedging [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative instruments gain (loss) in financial statements
Gain (loss) recognized in OCI (effective portion)	$ (7,854,000)	$ 1,288,000	$ (15,557,000)	$ (10,166,000)
Gain (loss) reclassified from accumulated OCI, effective amount	(10,644,000)	(10,563,000)	(30,011,000)	(31,417,000)
Gain (loss) reclassified from accumulated OCI, ineffective amount	(16,000)	(1,000)	(28,000)	(3,667,000)
Interest rate caps and interest rate swaps [Member]
Derivative instruments gain (loss) in financial statements
Gain (loss) recognized in OCI (effective portion)	(7,854,000)	1,288,000	(15,557,000)	(10,166,000)
Interest rate caps and interest rate swaps [Member] | Interest expense [Member]
Derivative instruments gain (loss) in financial statements
Gain (loss) reclassified from accumulated OCI, effective amount	(9,759,000)	(9,561,000)	(28,060,000)	(28,412,000)
Gain (loss) reclassified from accumulated OCI, ineffective amount	(16,000)	(1,000)	(27,000)	(1,000)
Interest rate caps and interest rate swaps [Member] | Net Gain on Change in Control of Interests [Member]
Derivative instruments gain (loss) in financial statements
Gain (loss) reclassified from accumulated OCI, effective amount	0		900,000
Gain (loss) reclassified from accumulated OCI, ineffective amount	0		0
Interest rate caps and interest rate swaps [Member] | Earnings (loss) from Unconsolidated Entities, Gross of Tax [Member]
Derivative instruments gain (loss) in financial statements
Gain (loss) reclassified from accumulated OCI, effective amount	(885,000)	(1,002,000)	(2,851,000)	(3,005,000)
Gain (loss) reclassified from accumulated OCI, ineffective amount	$ 0	$ 0	$ (1,000)	0
Interest rate caps and interest rate swaps [Member] | Discontinued operations [Member]
Derivative instruments gain (loss) in financial statements
Gain (loss) reclassified from accumulated OCI, effective amount				0
Gain (loss) reclassified from accumulated OCI, ineffective amount				$ (3,666,000)

Derivative Instruments and He62

Derivative Instruments and Hedging Activities (Details 2) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative net gain (loss) recognized in income statement		$ (1,323)	$ 20	$ 4,281	$ 592
TROR [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative net gain (loss) recognized in income statement		(1,143)	(42)	4,476	633
TROR [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative net gain (loss) recognized in income statement	[1]	848	68	3,299	2,279
Interest rate caps and interest rate swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative net gain (loss) recognized in income statement		$ (180)	$ 62	$ (195)	$ (41)
[1]	The net gain (loss) recognized in interest expense from the change in fair value of the underlying TROR borrowings was $(848) and $(3,299) for the three and nine months ended September 30, 2015, respectively, and $(68) and $(2,279) for the three and nine months ended September 30, 2014, respectively, offsetting the gain (loss) recognized on the TROR.

Derivative Instruments and He63

Derivative Instruments and Hedging Activities (Details 3)	9 Months Ended
	Sep. 30, 2015USD ($)
Derivative [Line Items]
Notional Amount	$ 1,095,638,000
Fair Value Prior to Nonperformance Risk	87,979,000
Nonperformance Risk	(2,401,000)
Collateral Posted	50,569,000
Property Specific Swap [Member]
Derivative [Line Items]
Notional Amount	734,497,000
Fair Value Prior to Nonperformance Risk	63,553,000
Nonperformance Risk	(2,457,000)
Collateral Posted	$ 0
Nature of Collateral	Mortgage liens
Credit Risk Contingent Feature	None
TROR [Member]
Derivative [Line Items]
Notional Amount	$ 361,141,000
Fair Value Prior to Nonperformance Risk	24,426,000
Nonperformance Risk	56,000
Collateral Posted	$ 50,569,000
Nature of Collateral	Restricted cash, notes receivable, letters of credit
Credit Risk Contingent Feature	None

Derivative Instruments and He64

Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative [Line Items]
SIFMA rate	0.02%		0.02%
Minimum [Member] | Interest rate swap agreements [Member]
Derivative [Line Items]
Derivative, term of contract			1 year
Minimum [Member] | Interest rate caps [Member]
Derivative [Line Items]
Derivative, term of contract			1 year
Maximum [Member] | Interest rate swap agreements [Member]
Derivative [Line Items]
Derivative, term of contract			10 years
Maximum [Member] | Interest rate caps [Member]
Derivative [Line Items]
Derivative, term of contract			3 years
Cash Flow Hedging [Member]
Derivative [Line Items]
Loss on cash flow hedge ineffectiveness				$ 3,667
Loss on cash flow hedges to be reclassified within next twelve months			$ 24,512
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | TROR [Member]
Derivative [Line Items]
Notional amount of TRS	$ 471,985		471,985
Net gain (loss) from change in fair value of underlying TROR borrowings recognized in interest expense	$ (848)	$ (68)	$ (3,299)	$ (2,279)

Capital Stock (Detail Textuals)

Capital Stock (Detail Textuals)	1 Months Ended		9 Months Ended
	Jun. 30, 2015USD ($)	May. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)	Jun. 30, 2015properties
Class of Stock [Line Items]
Proceeds from Issuance of Common Stock			$ 806,500,000	$ 0
Common Class A [Member]
Class of Stock [Line Items]
Issuance of stock in a public offering | shares			37,375,000
May 2015 Common Stock Issuance [Member] | Common Class A [Member]
Class of Stock [Line Items]
Issuance of stock in a public offering | shares		37,375,000
Shares Issued, Price Per Share | $ / shares		$ 22.50
Proceeds from Issuance of Common Stock		$ 806,500,000
University Park at MIT [Member]
Class of Stock [Line Items]
Partner's equity ownership acquired	49.00%
Number of life science office properties | properties					7
Number of parking facilities	2				2
Company's ownership interest after acquisition	100.00%		100.00%
University Park at MIT [Member] | May 2015 Common Stock Issuance [Member]
Class of Stock [Line Items]
Net proceeds to finance acquisition	$ 386,156,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)		Sep. 30, 2015	Dec. 31, 2014
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Fair value adjustment to the borrowings subject to TROR		$ 5,077,778,000	$ 5,346,196,000
Fair value measurement, recurring basis [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Fair value adjustment to the borrowings subject to TROR		2,305,000	5,604,000
Redeemable noncontrolling interest	[1]	(168,226,000)	(183,038,000)
Total fair value		(238,087,000)	(271,434,000)
Fair value measurement, recurring basis [Member] | Interest rate caps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets			126,000
Fair value measurement, recurring basis [Member] | Interest rate swaps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative liabilities		(61,096,000)	(75,281,000)
Fair value measurement, recurring basis [Member] | TROR [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets		13,412,000	8,236,000
Derivative liabilities		(24,482,000)	(27,081,000)
Fair Value, Inputs, Level 1 [Member] | Fair value measurement, recurring basis [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Fair value adjustment to the borrowings subject to TROR		0	0
Redeemable noncontrolling interest		0	0
Total fair value		0	0
Fair Value, Inputs, Level 1 [Member] | Fair value measurement, recurring basis [Member] | Interest rate caps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets			0
Fair Value, Inputs, Level 1 [Member] | Fair value measurement, recurring basis [Member] | Interest rate swaps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative liabilities		0	0
Fair Value, Inputs, Level 1 [Member] | Fair value measurement, recurring basis [Member] | TROR [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets		0	0
Derivative liabilities		0	0
Fair Value, Inputs, Level 2 [Member] | Fair value measurement, recurring basis [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Fair value adjustment to the borrowings subject to TROR		0	0
Redeemable noncontrolling interest		0	0
Total fair value		(2,873,000)	(1,619,000)
Fair Value, Inputs, Level 2 [Member] | Fair value measurement, recurring basis [Member] | Interest rate caps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets			126,000
Fair Value, Inputs, Level 2 [Member] | Fair value measurement, recurring basis [Member] | Interest rate swaps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative liabilities		(2,873,000)	(1,745,000)
Fair Value, Inputs, Level 2 [Member] | Fair value measurement, recurring basis [Member] | TROR [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets		0	0
Derivative liabilities		0	0
Fair Value, Inputs, Level 3 [Member] | Fair value measurement, recurring basis [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Fair value adjustment to the borrowings subject to TROR		2,305,000	5,604,000
Redeemable noncontrolling interest	[1]	(168,226,000)	(183,038,000)
Total fair value		(235,214,000)	(269,815,000)
Fair Value, Inputs, Level 3 [Member] | Fair value measurement, recurring basis [Member] | Interest rate caps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets			0
Fair Value, Inputs, Level 3 [Member] | Fair value measurement, recurring basis [Member] | Interest rate swaps [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative liabilities		(58,223,000)	(73,536,000)
Fair Value, Inputs, Level 3 [Member] | Fair value measurement, recurring basis [Member] | TROR [Member]
Financial assets and liabilities and redeemable noncontrolling interests on a recurring basis
Derivative assets		13,412,000	8,236,000
Derivative liabilities		$ (24,482,000)	$ (27,081,000)
[1]	Redeemable noncontrolling interest is recorded at historical cost as of the period presented.

Fair Value Measurements (Deta67

Fair Value Measurements (Details 1) - USD ($)		9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		$ (269,815,000)		$ (284,580,000)
Loss attributable to redeemable noncontrolling interest		14,812,000		13,299,000
Total realized and unrealized gains (losses):
Included in earnings		4,476,000		633,000
Included in other comprehensive income		15,313,000		19,067,000
Included in additional paid-in capital				(28,390,000)
Balance, ending		(235,214,000)		(279,971,000)
Redeemable Noncontrolling Interest [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		(183,038,000)	[1]	(171,743,000)
Loss attributable to redeemable noncontrolling interest		14,812,000		13,299,000
Total realized and unrealized gains (losses):
Included in earnings		0		0
Included in other comprehensive income		0		0
Included in additional paid-in capital				(28,390,000)
Balance, ending	[1]	(168,226,000)		(186,834,000)
Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		(73,536,000)		(97,360,000)
Loss attributable to redeemable noncontrolling interest		0		0
Total realized and unrealized gains (losses):
Included in earnings		0		0
Included in other comprehensive income		15,313,000		19,067,000
Included in additional paid-in capital				0
Balance, ending		(58,223,000)		(78,293,000)
Net TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		(18,845,000)		(24,346,000)
Loss attributable to redeemable noncontrolling interest		0		0
Total realized and unrealized gains (losses):
Included in earnings		7,775,000		2,912,000
Included in other comprehensive income		0		0
Included in additional paid-in capital				0
Balance, ending		(11,070,000)		(21,434,000)
Fair value adjustment to the borrowings subject to TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		5,604,000		8,869,000
Loss attributable to redeemable noncontrolling interest		0		0
Total realized and unrealized gains (losses):
Included in earnings		(3,299,000)		(2,279,000)
Included in other comprehensive income		0		0
Included in additional paid-in capital				0
Balance, ending		2,305,000		6,590,000
TROR Related [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		(13,241,000)		(15,477,000)
Loss attributable to redeemable noncontrolling interest		0		0
Total realized and unrealized gains (losses):
Included in earnings		4,476,000		633,000
Included in other comprehensive income		0		0
Included in additional paid-in capital				0
Balance, ending		$ (8,765,000)		$ (14,844,000)
[1]	Redeemable noncontrolling interest is recorded at historical cost as of the period presented.

Fair Value Measurements (Deta68

Fair Value Measurements (Details 2) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value	$ (235,214)	$ (269,815)	$ (279,971)	$ (284,580)
Fair value adjustment to borrowings subject to TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value	2,305	$ 5,604	$ 6,590	$ 8,869
Potential Future Exposure [Member] | Fair value measurement, recurring basis [Member] | Credit valuation adjustment of interest rate swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value	$ 2,276
Credit Spread	4.00%
Bond Valuation [Member] | Fair value measurement, recurring basis [Member] | TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value	$ (11,070)
Bond Valuation [Member] | Fair value measurement, recurring basis [Member] | Fair value adjustment to borrowings subject to TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value	$ 2,305
Bond Valuation [Member] | Minimum [Member] | Fair value measurement, recurring basis [Member] | TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Bond Valuation	$ 79.59
Bond Valuation [Member] | Minimum [Member] | Fair value measurement, recurring basis [Member] | Fair value adjustment to borrowings subject to TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Bond Valuation	79.59
Bond Valuation [Member] | Maximum [Member] | Fair value measurement, recurring basis [Member] | TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Bond Valuation	115.87
Bond Valuation [Member] | Maximum [Member] | Fair value measurement, recurring basis [Member] | Fair value adjustment to borrowings subject to TROR [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Bond Valuation	$ 115.87

Fair Value Measurements (Deta69

Fair Value Measurements (Details 3) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair value of nonrecourse mortgage debt and notes payable (exclusive of fair value of derivatives), revolving credit facility and convertible senior debt [Abstract]
Carrying Value	$ 4,773,418	$ 4,938,201
Fair Value	5,077,778	5,346,196
Fixed Rate Debt [Member]
Fair value of nonrecourse mortgage debt and notes payable (exclusive of fair value of derivatives), revolving credit facility and convertible senior debt [Abstract]
Carrying Value	2,747,031	2,993,591
Fair Value	3,062,517	3,421,373
Variable Rate Debt [Member]
Fair value of nonrecourse mortgage debt and notes payable (exclusive of fair value of derivatives), revolving credit facility and convertible senior debt [Abstract]
Carrying Value	2,026,387	1,944,610
Fair Value	$ 2,015,261	$ 1,924,823

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	$ 7,210	$ 4,618	$ 21,536	$ 14,840
Less amount capitalized into qualifying real estate projects	(1,883)	(1,490)	(4,967)	(4,110)
Amount charged to operating expenses	5,327	3,128	16,569	10,730
Depreciation expense on capitalized stock-based compensation	227	139	679	586
Total stock-based compensation expense	5,554	3,267	17,248	11,316
Deferred income tax benefit	2,131	1,214	6,642	4,235
Stock option costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	320	698	985	2,677
Restricted stock costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	3,349	2,833	11,950	9,136
Performance share costs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	$ 3,541	$ 1,087	$ 8,601	$ 3,027

Stock-Based Compensation (Det71

Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of grant-date fair value expensed immediately for awards granted to retirement-eligible grantees	$ 1,926	$ 1,358
Purchase of treasury stock, shares	216,700	205,568
Purchase of treasury stock, aggregate cost basis	$ 5,412	$ 3,800	$ 4,009
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	28,240
Grant-date fair value	$ 7.79
Stock options expected term	5 years 6 months
Stock options expected volatility	30.80%
Stock options risk-free interest rate	1.71%
Stock options expected dividend yield	0.00%
Exercise price of options	$ 24.62
Unrecognized compensation cost	$ 1,734
Weighted-average period of unrecognized compensation cost expected to be recognized	23 months
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	826,718
Grant-date fair value	$ 24.62
Unrecognized compensation cost	$ 23,600
Weighted-average period of unrecognized compensation cost expected to be recognized	27 months
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	627,385
Grant-date fair value	$ 32.14
Unrecognized compensation cost	$ 18,573
Weighted-average period of unrecognized compensation cost expected to be recognized	26 months

Write-Off of Abandoned Develo72

Write-Off of Abandoned Development Projects and Demolition Costs (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Write-off of Abandoned Development Projects and Demolition Costs [Abstract]
Write-offs of abandoned development projects and demolition costs	$ 0	$ 456,000	$ 5,778,000	$ 1,389,000
Write-offs of abandoned development projects and demolition costs of unconsolidated entities	$ 0	$ 0	$ 10,191,000	$ 0

Impairment of Real Estate and73

Impairment of Real Estate and Impairment of Unconsolidated Entities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	$ 425,463,000	$ 966,000	$ 425,463,000	$ 130,795,000
Westchester's Ridge Hill [Member]
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	372,587,000	0	372,587,000	0
Avenue at Tower City Center [Member]
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	0	0	0	72,473,000
Illinois Science and Technology Park [Member]
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	26,246,000	0	26,246,000	0
Terminal Tower [Member]
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	0	0	0	42,208,000
Post Office Plaza [Member]
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	0	0	0	14,378,000
Land inventory [Member]
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	16,307,000	0	16,307,000	0
Other [Member]
Schedule of Impairment of Real Estate Included in Continuing Operations [Line Items]
Impairment of Real Estate	$ 10,323,000	$ 966,000	$ 10,323,000	$ 1,736,000

Impairment of Real Estate and74

Impairment of Real Estate and Impairment of Unconsolidated Entities (Details 1) - Fair Value, Measurements, Nonrecurring [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Indicative bids [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value	$ 630,797	$ 38,750
Comparable Property Market Analysis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value	$ 5,128
Non-recurring Impairment of Real Estate Including Discontiued Operations
Price Per Square Foot	18
Discounted cash flows [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value		$ 44,200
Minimum [Member] | Discounted cash flows [Member]
Non-recurring Impairment of Real Estate Including Discontiued Operations
Market Capitalization Rate		8.00%
Discount Rate		10.50%
Maximum [Member] | Discounted cash flows [Member]
Non-recurring Impairment of Real Estate Including Discontiued Operations
Market Capitalization Rate		10.00%
Discount Rate		12.00%

Impairment of Real Estate and75

Impairment of Real Estate and Impairment of Unconsolidated Entities (Detail Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)a	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)a	Sep. 30, 2014USD ($)
Impairment of Real Estate and Impairment of Unconsolidated Entities [Line Items]
Impairment of Real Estate	$ 425,463,000	$ 966,000	$ 425,463,000	$ 130,795,000
Impairment of Unconsolidated Entities	$ 1,384,000	0	$ 1,384,000	0
Westchester's Ridge Hill [Member]
Impairment of Real Estate and Impairment of Unconsolidated Entities [Line Items]
Previous probability of a near-term sale	10.00%		10.00%
Impairment of Real Estate	$ 372,587,000	0	$ 372,587,000	0
Illinois Science and Technology Park [Member]
Impairment of Real Estate and Impairment of Unconsolidated Entities [Line Items]
Impairment of Real Estate	26,246,000	0	26,246,000	0
Land inventory [Member]
Impairment of Real Estate and Impairment of Unconsolidated Entities [Line Items]
Impairment of Real Estate	$ 16,307,000	$ 0	$ 16,307,000	$ 0
Area of Land | a	13.5		13.5
Three consolidated regional malls [Member]
Impairment of Real Estate and Impairment of Unconsolidated Entities [Line Items]
Number of regional malls company pursuing partial sale through joint venture		3
Likelihood of a near-term partial sale	70.00%		70.00%
Probably of a long-term hold for each asset	30.00%		30.00%

Net Loss on Disposition of Pa76

Net Loss on Disposition of Partial Interest in Development Project (Details Textuals)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2014a
Disposal Group, not including discontinued operations [Line Items]
Net loss on disposition of partial interest in development project	$ 0	$ 0	$ 0	$ 19,590,000
Greenland Joint Venture [Member]
Disposal Group, not including discontinued operations [Line Items]
Percentage of ownership sold						70.00%
Cash purchase price received, net of transaction costs					$ 208,275,000
Net loss on disposition of partial interest in development project				19,590,000
Net loss on disposition of partial interest in development project, net of noncontrolling interests				$ 16,211,000
Pacific Park Brooklyn [Member]
Disposal Group, not including discontinued operations [Line Items]
Area of project (in acres) | a						22

Net Gain (Loss) on Dispositio77

Net Gain (Loss) on Disposition of Full or Partial Interest in Rental Properties (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Disposal Group, not including discontinued operations [Line Items]
Net gain (loss) on disposition of full or partial interest in rental properties	$ 1,746,000	$ (146,000)	$ 1,746,000	$ (613,000)
Skylight Office Tower [Member]
Disposal Group, not including discontinued operations [Line Items]
Net gain (loss) on disposition of full or partial interest in rental properties	1,746,000	0	1,746,000	0
Stapleton - 3055 Roslyn [Member]
Disposal Group, not including discontinued operations [Line Items]
Net gain (loss) on disposition of full or partial interest in rental properties	0	(146,000)	0	(146,000)
Other [Member]
Disposal Group, not including discontinued operations [Line Items]
Net gain (loss) on disposition of full or partial interest in rental properties	$ 0	$ 0	$ 0	$ (467,000)

Net Gain on Change in Control78

Net Gain on Change in Control of Interests (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Gain on Change in Control of Interests [Line Items]
Net gain on change in control of interests	$ 0	$ 0	$ 487,684,000	$ 2,759,000
University Park at MIT [Member]
Net Gain on Change in Control of Interests [Line Items]
Net gain on change in control of interests	0	0	463,643,000	0
Cherry Tree [Member]
Net Gain on Change in Control of Interests [Line Items]
Net gain on change in control of interests	0	0	7,391,000	0
Chestnut Lake [Member]
Net Gain on Change in Control of Interests [Line Items]
Net gain on change in control of interests	0	0	8,525,000	0
Stratford Crossing [Member]
Net Gain on Change in Control of Interests [Line Items]
Net gain on change in control of interests	0	0	8,125,000	0
Other Property [Member]
Net Gain on Change in Control of Interests [Line Items]
Net gain on change in control of interests	$ 0	$ 0	$ 0	$ 2,759,000

Net Gain on Change in Control79

Net Gain on Change in Control of Interests (Detail 1) - University Park at MIT [Member] $ in Thousands	Jun. 30, 2015USD ($)
Business Acquisition [Line Items]
Real Estate, net	$ 1,121,786
Restricted cash	17,235
Notes and accounts receivable, net	1,801
Other assets (1)	103,804	[1]
Assets Acquired	1,244,626
Mortgage debt and notes payable, nonrecourse	(363,147)
Accounts payable, accrued expenses and other liabilities (2)	(94,214)	[2]
Net Assets Acquired	$ 787,265
[1]	Primarily consists of $78,000 of in-place leases and $20,000 of below-market ground leases with weighted-average lives at the time of acquisition of 3.6 years and 60 years, respectively.
[2]	Primarily consists of $49,000 of below-market tenant leases and $24,000 of above-market ground leases with weighted-average lives at the time of acquisition of 3.6 years and 58 years, respectively.

Net Gain on Change in Control80

Net Gain on Change in Control of Interests (Details 2) - USD ($)		3 Months Ended		6 Months Ended	9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Net gain on change in control of interests		$ 0	$ 0		$ 487,684,000	$ 2,759,000
University Park at MIT [Member]
Business Acquisition [Line Items]
Net gain on change in control of interests				$ 463,643,000	$ 463,643,000
Carrying value of previously held equity interests				(62,534,000)
Fair value of previously held equity interests	[1]			401,109,000
Cash paid				386,156,000
Total				$ 787,265,000
[1]	The significant assumptions used to value the previously held equity interests in the MIT Assets were determined to be Level 3 inputs. The weighted-average discount rate applied to cash flows and the weighted-average terminal capitalization rate were 7.0% and 6.0%, respectively.

Net Gain on Change in Controls

Net Gain on Change in Controls of Interests (Details 3) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues				$ 785,898,000	$ 713,917,000
Pro forma revenues				829,640,000	781,399,000
Earnings (loss) from continuing operations		$ (303,110,000)	$ (4,118,000)	(57,038,000)	(100,526,000)
Pro forma earnings (loss) from continuing operations				(356,077,000)	157,149,000
Net earnings (loss) attributable to common shareholders				(52,672,000)	(76,786,000)
Pro forma net earnings (loss) attributable to common shareholders				$ (351,711,000)	$ 180,889,000
Weighted average shares outstanding, Basic		255,417,396	198,893,584	230,778,223	198,328,900
Pro forma weighted average shares outstanding, Basic				230,778,223	198,328,900
Net earnings (loss) attributable to common shareholders, Basic				$ (0.23)	$ (0.39)
Pro forma net earnings (loss) attributable to common shareholders, Basic				$ (1.52)	$ 0.89
Weighted average shares outstanding, Diluted	[1]	255,417,396	199,643,879	230,778,223	198,328,900
Pro forma weighted average shares outstanding, Diluted				230,778,223	231,151,937
Net earnings (loss) attributable to common shareholders, Diluted				$ (0.23)	$ (0.39)
Pro forma net earnings (loss) attributable to common shareholders, Diluted				$ (1.52)	$ 0.82
Net Gain on Change in Control of Interests [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustment to revenues	[2]			$ 0	$ 0
Pro forma adjustment to earnings (loss) from continuing operations	[2]			(283,828,000)	283,828,000
Pro forma adjustment to net earnings (loss) attributable to common shareholders	[2]			(283,828,000)	283,828,000
Other Pro Forma Adjustments [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustment to revenues	[3]			43,742,000	67,482,000
Pro forma adjustment to earnings (loss) from continuing operations	[3]			(15,211,000)	(26,153,000)
Pro forma adjustment to net earnings (loss) attributable to common shareholders	[3]			$ (15,211,000)	$ (26,153,000)
[1]	Incremental shares from dilutive options, restricted stock, performance shares and convertible units aggregating 17,959,278, 25,382,494 and 37,238,228, for the three and nine months ended September 30, 2015 and the nine months ended September 30, 2014, respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive due to the loss from continuing operations. Incremental shares from restricted stock, Class A common units and convertible securities aggregating 36,120,026 for the three months ended September 30, 2014 were not included in the computation of diluted EPS because their effect is anti-dilutive. Weighted-average options, restricted stock and performance shares of 2,666,555 and 2,304,807 for the three and nine months ended September 30, 2015, respectively, and 3,240,497 and 3,470,348 for the three and nine months ended September 30, 2014, respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive under the treasury stock method.
[2]	Gain on change in control of interests of $463,643, net of tax of $179,815.
[3]	Represents additional depreciation and amortization expense related to the increased basis of real estate and intangible assets, plus pro forma earnings of the 100% ownership interests, less actual equity in earnings related to the Company’s 51% prior ownership for the periods presented.

Net Gain on Change in Control82

Net Gain on Change in Control of Interests (Details Textuals)	1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	Jun. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2015properties	Apr. 30, 2015properties
Net Gain on Change in Control of Interest [Line Items]
Net gain on change in control of interests		$ 0	$ 0		$ 487,684,000	$ 2,759,000
University Park at MIT [Member]
Net Gain on Change in Control of Interest [Line Items]
Partner's equity ownership acquired	49.00%			49.00%
Number of properties acquired | properties								7
Company's ownership interest after acquisition	100.00%	100.00%		100.00%	100.00%
Number of parking facilities	2			2				2
Ownership percentage prior to sale	51.00%	51.00%		51.00%	51.00%
In-place leases							$ 78,000,000
Below market tenant leases							49,000,000
Weighted-average discount rate applied to cash flows	7.00%
Weighted-average terminal capitalization rate	6.00%
Net gain on change in control of interests				$ 463,643,000	$ 463,643,000
Gain on change in control of interests, tax					$ 179,815,000
University Park at MIT [Member] | Above Market Leases [Member]
Net Gain on Change in Control of Interest [Line Items]
Weighted average life	3 years 7 months
University Park at MIT [Member] | Below-market tenant leases [Member]
Net Gain on Change in Control of Interest [Line Items]
Weighted average life	3 years 7 months
University Park at MIT [Member] | Below-market ground leases [Member]
Net Gain on Change in Control of Interest [Line Items]
Ground leases							20,000,000
Acquired ground leases, weighted average life	60 years
University Park at MIT [Member] | Above-market ground leases [Member]
Net Gain on Change in Control of Interest [Line Items]
Ground leases							$ 24,000,000
Acquired ground leases, weighted average life	58 years
University Park at MIT [Member] | May 2015 Common Stock Issuance [Member]
Net Gain on Change in Control of Interest [Line Items]
Net proceeds to finance acquisition	$ 386,156,000
Apartment Communities transaction [Member]
Net Gain on Change in Control of Interest [Line Items]
Partner's equity ownership acquired									50.00%
Number of properties acquired | properties									3
Company's equity ownership exchanged									50.00%
Number of properties exchanged | properties									5
Company's ownership interest after acquisition									100.00%

Loss on Extinguishment of Debt

Loss on Extinguishment of Debt (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 23,609	$ 49	$ 61,953	$ 927

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Tax Credit Carryforward [Line Items]
Income tax expense (benefit)	$ (179,646)	$ (365)	$ 3,399	$ (43,381)
Net operating loss carryforwards					$ 307,200
Period after REIT Conversion Assets Sold Subject to Income Taxes			10 years
Charitable contribution deduction carryforward [Member]
Tax Credit Carryforward [Line Items]
Tax carryforward					16,234
General business tax credit carryovers [Member]
Tax Credit Carryforward [Line Items]
Tax carryforward					36,779
Alternative Minimum Tax Credit Carryforward [Member]
Tax Credit Carryforward [Line Items]
Tax carryforward					$ 27,452

Net Gain on Disposition of In85

Net Gain on Disposition of Interest in Unconsolidated Entities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	$ 1,009,000	$ 9,189,000	$ 20,293,000	$ 50,075,000
Mall at Stonecrest [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	7,952,000	0	7,952,000
LIberty Center [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	1,237,000	0	1,237,000
Newport Landing [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	5,765,000	0
Eaton Ridge [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	4,745,000	0
Arbor Glen [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	3,422,000	0
Parkwood Village [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	2,817,000	0
Sutton Landing [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	2,535,000	0
Westwood Reserve [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	0	8,904,000
Legacy Crossroads [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	0	6,216,000
Colonial Grand [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	0	4,904,000
Legacy Arboretum [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	0	3,257,000
Barrington Place [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	0	1,515,000
Golden Gate [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	0	0	0	16,440,000
Other [Member]
Net gain on disposition of interest in unconsolidated entities [Line Items]
Net gain on disposition of interest in unconsolidated entities	$ 1,009,000	$ 0	$ 1,009,000	$ (350,000)

Net Gain on Disposition of In86

Net Gain on Disposition of Interest in Unconsolidated Entities (Details Textuals) - Apartment Communities transaction [Member]	Apr. 30, 2015properties
Disposal Group, not including discontinued operations [Line Items]
Partner's equity ownership acquired	50.00%
Number of properties acquired	3
Company's equity ownership exchanged	50.00%
Number of properties exchanged	5

Discontinued Operations (Detail

Discontinued Operations (Details) - ft² ft² in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Promenade Bolingbrook [Member]
Summary of rental properties included in discontinued operations
Area of Real Estate Property		771
Period disposed		Q2-2014
Period status	0		Yes
Quartermaster Plaza [Member]
Summary of rental properties included in discontinued operations
Area of Real Estate Property		456
Period disposed		Q1-2014
Period status	0		Yes
Mesa del Sol - 5600 University SE [Member]
Summary of rental properties included in discontinued operations
Area of Real Estate Property		87
Period disposed		Q1-2014
Period status	0		Yes

Discontinued Operations (Deta88

Discontinued Operations (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summary of operating results of discontinued operations
Revenues		$ 0		$ 7,034,000
Expenses
Operating expenses		0		3,026,000
Depreciation and amortization		0		987,000
Total expenses		0		4,013,000
Gain on disposition of rental properties		0		28,100,000
Interest expense		0		(5,538,000)
Amortization of mortgage procurement costs		0		(41,000)
Loss on extinguishment of debt		0		(448,000)
Earnings before income taxes		0		25,094,000
Income tax expense		0		12,082,000
Earnings from discontinued operations	$ 0	0	$ 0	13,012,000
Noncontrolling interest
Gain on disposition of rental properties		0		58,000
Operating loss from rental properties		0		(8,000)
Earnings from discontinued operations attributable to noncontrolling interests	$ 0	0	$ 0	50,000
Earnings from discontinued operations attributable to Forest City Enterprises, Inc.		$ 0		$ 12,962,000

Discontinued Operations (Deta89

Discontinued Operations (Details 2) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Gain (Loss) on Disposition of Rental Properties [Line Items]
Pre-tax gain on disposition of rental properties	$ 0	$ 28,100,000
Quartermaster Plaza [Member]
Gain (Loss) on Disposition of Rental Properties [Line Items]
Pre-tax gain on disposition of rental properties	0	26,373,000
Promenade Bolingbrook [Member]
Gain (Loss) on Disposition of Rental Properties [Line Items]
Pre-tax gain on disposition of rental properties	0	1,276,000
Mesa del Sol - 5600 University SE [Member]
Gain (Loss) on Disposition of Rental Properties [Line Items]
Pre-tax gain on disposition of rental properties	$ 0	$ 451,000

Discontinued Operations (Deta90

Discontinued Operations (Details Textuals)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Rental properties included in discontinued operations	0	0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerators
Earnings (loss) from continuing operations attributable to Forest City Enterprises, Inc.		$ (302,219,000)	$ 686,000	$ (52,672,000)	$ (89,748,000)
Undistributed earnings allocated to participating securities		0	(17,000)	0	0
Earnings (loss) from continuing operations attributable to common shareholders - Basic		(302,219,000)	669,000	(52,672,000)	(89,748,000)
Net earnings (loss) attributable to Forest City Enterprises, Inc.		(302,219,000)	686,000	(52,672,000)	(76,786,000)
Undistributed earnings allocated to participating securities		0	(17,000)	0	0
Net earnings (loss) attributable to common shareholders - Basic		$ (302,219,000)	$ 669,000	$ (52,672,000)	$ (76,786,000)
Denominators
Weighted average shares outstanding ‑ Basic		255,417,396	198,893,584	230,778,223	198,328,900
Effect of stock options and performance shares		0	750,295	0	0
Weighted average shares outstanding ‑ Diluted	[1]	255,417,396	199,643,879	230,778,223	198,328,900
Earnings per share
Income (Loss) from Continuing Operations, Per Basic and Diluted Share		$ (1.18)	$ 0	$ (0.23)	$ (0.45)
Earnings Per Share, Basic and Diluted		$ (1.18)	$ 0	$ (0.23)	$ (0.39)
[1]	Incremental shares from dilutive options, restricted stock, performance shares and convertible units aggregating 17,959,278, 25,382,494 and 37,238,228, for the three and nine months ended September 30, 2015 and the nine months ended September 30, 2014, respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive due to the loss from continuing operations. Incremental shares from restricted stock, Class A common units and convertible securities aggregating 36,120,026 for the three months ended September 30, 2014 were not included in the computation of diluted EPS because their effect is anti-dilutive. Weighted-average options, restricted stock and performance shares of 2,666,555 and 2,304,807 for the three and nine months ended September 30, 2015, respectively, and 3,240,497 and 3,470,348 for the three and nine months ended September 30, 2014, respectively, were not included in the computation of diluted EPS because their effect is anti-dilutive under the treasury stock method.

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restricted Stock Class A Common Units and Convertible Securities [Member]
Earnings Per Share (Textual) [Abstract]
Anti-dilutive securities excluded from computation of earnings per share				36,120,026
Dilutive options, restricted stock, performance shares and convertible securities [Member]
Earnings Per Share (Textual) [Abstract]
Anti-dilutive securities excluded from computation of earnings per share	17,959,278		25,382,494	37,238,228
Weighted-average options, restricted stock and performance shares [Member]
Earnings Per Share (Textual) [Abstract]
Anti-dilutive securities excluded from computation of earnings per share	2,666,555	3,240,497	2,304,807	3,470,348

Segment Information (Details)

Segment Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Financial data of reportable segments
Total Assets	$ 9,960,241,000		$ 9,960,241,000		$ 8,814,940,000
Operating Expenses	173,209,000	$ 150,154,000	500,692,000	$ 467,064,000
Revenues	289,057,000	234,743,000	785,898,000	713,917,000
Depreciation and amortization	79,966,000	55,511,000	206,782,000	169,838,000
Interest and other income	8,995,000	10,096,000	27,977,000	33,974,000
Interest expense	49,007,000	59,312,000	149,335,000	178,917,000
Capital expenditures	146,538,000	83,360,000	338,490,000	295,182,000
Commercial Group [Member]
Financial data of reportable segments
Total Assets	5,015,253,000		5,015,253,000		4,210,714,000
Operating Expenses	79,720,000	70,224,000	226,929,000	224,929,000
Revenues	159,706,000	129,345,000	422,858,000	383,221,000
Depreciation and amortization	48,819,000	29,304,000	115,392,000	91,756,000
Interest and other income	1,708,000	1,579,000	5,614,000	5,585,000
Interest expense	29,040,000	31,093,000	89,211,000	97,938,000
Capital expenditures	50,788,000	17,655,000	122,001,000	98,033,000
Residential Group [Member]
Financial data of reportable segments
Total Assets	3,583,466,000		3,583,466,000		3,172,188,000
Operating Expenses	44,715,000	43,704,000	134,117,000	127,046,000
Revenues	79,703,000	63,303,000	230,223,000	190,525,000
Depreciation and amortization	21,670,000	16,608,000	62,363,000	49,660,000
Interest and other income	3,030,000	5,101,000	9,790,000	18,145,000
Interest expense	6,019,000	8,030,000	12,629,000	23,032,000
Capital expenditures	83,250,000	62,795,000	199,433,000	187,656,000
Arena [Member]
Financial data of reportable segments
Total Assets	955,409,000		955,409,000		955,570,000
Operating Expenses	17,199,000	17,105,000	55,019,000	55,399,000
Revenues	24,637,000	25,039,000	80,497,000	84,968,000
Depreciation and amortization	8,811,000	8,793,000	26,403,000	25,999,000
Interest and other income	0	0	0	0
Interest expense	9,415,000	10,895,000	29,650,000	30,101,000
Capital expenditures	12,500,000	2,890,000	17,022,000	9,442,000
Land Development Group [Member]
Financial data of reportable segments
Total Assets	275,502,000		275,502,000		250,833,000
Operating Expenses	11,869,000	5,358,000	23,234,000	24,307,000
Revenues	25,011,000	17,056,000	52,320,000	55,203,000
Depreciation and amortization	28,000	88,000	540,000	269,000
Interest and other income	4,213,000	3,384,000	12,394,000	10,091,000
Interest expense	(189,000)	(287,000)	(1,059,000)	(572,000)
Capital expenditures	0	20,000	15,000	36,000
Corporate Activities [Member]
Financial data of reportable segments
Total Assets	130,611,000		130,611,000		$ 225,635,000
Operating Expenses	19,706,000	13,763,000	61,393,000	35,383,000
Revenues	0	0	0	0
Depreciation and amortization	638,000	718,000	2,084,000	2,154,000
Interest and other income	44,000	32,000	179,000	153,000
Interest expense	4,722,000	9,581,000	18,904,000	28,418,000
Capital expenditures	$ 0	$ 0	$ 19,000	$ 15,000

Segment Information (Details 1)

Segment Information (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earnings (loss) attributable to Forest City Enterprises, Inc.	$ (302,219,000)	$ 686,000	$ (52,672,000)	$ (76,786,000)
Depreciation and amortization - Real Estate Groups	79,966,000	55,511,000	206,782,000	169,838,000
Net loss on disposition of full or partial interests in rental properties	(1,746,000)	173,000	(1,746,000)	640,000
Gain on disposition of unconsolidated entities	(1,009,000)	(9,189,000)	(20,293,000)	(50,075,000)
Impairment of consolidated depreciable real estate	409,156,000		409,156,000	129,059,000
Discontinued operations:
Gain on disposition of rental properties				(28,042,000)
Income tax expense (benefit) on non-FFO:
Gain on disposition of rental properties	1,088,000	3,310,000	8,549,000	32,028,000
Impairment of Depreciable Real Estate	(158,805,000)		(158,805,000)	(50,053,000)
FFO attributable to Forest City Enterprises, Inc.	37,955,000	65,907,000	427,173,000	174,365,000
Real Estate Groups [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization - Real Estate Groups	91,490,000	70,927,000	242,984,000	216,608,000
Discontinued operations:
Depreciation and amortization - Real Estate Groups				986,000
Commercial Group [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earnings (loss) attributable to Forest City Enterprises, Inc.	(407,249,000)	12,190,000	52,631,000	(111,414,000)
Depreciation and amortization - Real Estate Groups	48,819,000	29,304,000	115,392,000	91,756,000
Net loss on disposition of full or partial interests in rental properties	(1,746,000)	173,000	(1,746,000)	640,000
Gain on disposition of unconsolidated entities	(1,009,000)	(9,189,000)	(1,009,000)	(25,279,000)
Impairment of consolidated depreciable real estate	400,733,000		400,733,000	129,059,000
Discontinued operations:
Gain on disposition of rental properties				(28,042,000)
Income tax expense (benefit) on non-FFO:
Gain on disposition of rental properties	0	0	0	0
Impairment of Depreciable Real Estate	0		0	0
FFO attributable to Forest City Enterprises, Inc.	51,581,000	44,899,000	603,317,000	96,148,000
Commercial Group [Member] | Real Estate Groups [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization - Real Estate Groups	60,852,000	41,725,000	152,708,000	130,198,000
Discontinued operations:
Depreciation and amortization - Real Estate Groups				986,000
Residential Group [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earnings (loss) attributable to Forest City Enterprises, Inc.	604,000	5,512,000	54,034,000	48,613,000
Depreciation and amortization - Real Estate Groups	21,670,000	16,608,000	62,363,000	49,660,000
Net loss on disposition of full or partial interests in rental properties	0	0	0	0
Gain on disposition of unconsolidated entities	0	0	(19,284,000)	(24,796,000)
Impairment of consolidated depreciable real estate	8,423,000		8,423,000	0
Discontinued operations:
Gain on disposition of rental properties				0
Income tax expense (benefit) on non-FFO:
Gain on disposition of rental properties	0	0	0	0
Impairment of Depreciable Real Estate	0		0	0
FFO attributable to Forest City Enterprises, Inc.	34,576,000	29,687,000	117,830,000	95,184,000
Residential Group [Member] | Real Estate Groups [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization - Real Estate Groups	25,549,000	24,175,000	74,657,000	71,367,000
Discontinued operations:
Depreciation and amortization - Real Estate Groups				0
Arena [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earnings (loss) attributable to Forest City Enterprises, Inc.	(5,733,000)	(5,575,000)	(15,763,000)	(13,378,000)
Depreciation and amortization - Real Estate Groups	8,811,000	8,793,000	26,403,000	25,999,000
Net loss on disposition of full or partial interests in rental properties	0	0	0	0
Gain on disposition of unconsolidated entities	0	0	0	0
Impairment of consolidated depreciable real estate	0		0	0
Discontinued operations:
Gain on disposition of rental properties				0
Income tax expense (benefit) on non-FFO:
Gain on disposition of rental properties	0	0	0	0
Impairment of Depreciable Real Estate	0		0	0
FFO attributable to Forest City Enterprises, Inc.	(658,000)	(589,000)	(571,000)	1,549,000
Arena [Member] | Real Estate Groups [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization - Real Estate Groups	5,075,000	4,986,000	15,192,000	14,927,000
Discontinued operations:
Depreciation and amortization - Real Estate Groups				0
Land Development Group [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earnings (loss) attributable to Forest City Enterprises, Inc.	15,027,000	13,171,000	38,254,000	36,257,000
Depreciation and amortization - Real Estate Groups	28,000	88,000	540,000	269,000
Net loss on disposition of full or partial interests in rental properties	0	0	0	0
Gain on disposition of unconsolidated entities	0	0	0	0
Impairment of consolidated depreciable real estate	0		0	0
Discontinued operations:
Gain on disposition of rental properties				0
Income tax expense (benefit) on non-FFO:
Gain on disposition of rental properties	0	0	0	0
Impairment of Depreciable Real Estate	0		0	0
FFO attributable to Forest City Enterprises, Inc.	15,041,000	13,212,000	38,681,000	36,373,000
Land Development Group [Member] | Real Estate Groups [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization - Real Estate Groups	14,000	41,000	427,000	116,000
Discontinued operations:
Depreciation and amortization - Real Estate Groups				0
Corporate Activities [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earnings (loss) attributable to Forest City Enterprises, Inc.	95,132,000	(24,612,000)	(181,828,000)	(36,864,000)
Depreciation and amortization - Real Estate Groups	638,000	718,000	2,084,000	2,154,000
Net loss on disposition of full or partial interests in rental properties	0	0	0	0
Gain on disposition of unconsolidated entities	0	0	0	0
Impairment of consolidated depreciable real estate	0		0	0
Discontinued operations:
Gain on disposition of rental properties				0
Income tax expense (benefit) on non-FFO:
Gain on disposition of rental properties	1,088,000	3,310,000	8,549,000	32,028,000
Impairment of Depreciable Real Estate	(158,805,000)		(158,805,000)	(50,053,000)
FFO attributable to Forest City Enterprises, Inc.	(62,585,000)	(21,302,000)	(332,084,000)	(54,889,000)
Corporate Activities [Member] | Real Estate Groups [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization - Real Estate Groups	$ 0	$ 0	$ 0	0
Discontinued operations:
Depreciation and amortization - Real Estate Groups				$ 0