Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 13, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'Kimco Realty Corporation | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 409,772,726 | ' |
Entity Public Float | ' | ' | $9,500,000,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000879101 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Rental property | ' | ' |
Land | $2,072,099,000 | $2,024,300,000 |
Building and improvements | 6,953,427,000 | 6,825,724,000 |
9,025,526,000 | 8,850,024,000 | |
Less: accumulated depreciation and amortization | -1,878,681,000 | -1,745,462,000 |
7,146,845,000 | 7,104,562,000 | |
Real estate under development | 97,818,000 | 97,263,000 |
Real estate, net | 7,244,663,033 | 7,201,825,000 |
Investments and advances in real estate joint ventures | 1,257,010,000 | 1,428,155,000 |
Other real estate investments | 274,641,000 | 317,557,000 |
Mortgages and other financing receivables | 30,243,000 | 70,704,000 |
Cash and cash equivalents | 148,768,000 | 141,875,000 |
Marketable securities | 62,766,000 | 36,541,000 |
Accounts and notes receivable | 164,326,000 | 171,540,000 |
Deferred charges and prepaid expenses | 175,698,000 | 171,373,000 |
Other assets | 305,515,000 | 211,664,000 |
Total assets | 9,663,630,000 | 9,751,234,000 |
Liabilities: | ' | ' |
Notes payable | 3,186,047,000 | 3,192,127,000 |
Mortgages payable | 1,035,354,000 | 1,003,190,000 |
Accounts payable and accrued expenses | 124,290,000 | 111,881,000 |
Dividends payable | 104,496,000 | 96,518,000 |
Other liabilities | 357,764,000 | 333,962,000 |
Total liabilities | 4,807,951,000 | 4,737,678,000 |
Redeemable noncontrolling interests | 86,153,000 | 81,076,000 |
Commitments and Contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $1.00 par value, authorized 5,961,200 shares 102,000 shares issued and outstanding (in series), Aggregate liquidation preference $975,000 | 102,000 | 102,000 |
Common stock, $.01 par value, authorized 750,000,000 shares issued and outstanding 409,731,058 and 407,782,102 shares, respectively | 4,097,000 | 4,078,000 |
Paid-in capital | 5,689,258,000 | 5,651,170,000 |
Cumulative distributions in excess of net income | -996,058,000 | -824,008,000 |
Accumulated other comprehensive income | -64,982,000 | -66,182,000 |
Total stockholders' equity | 4,632,417,000 | 4,765,160,000 |
Noncontrolling interests | 137,109,000 | 167,320,000 |
Total equity | 4,769,526,000 | 4,932,480,000 |
Total liabilities and equity | $9,663,630,000 | $9,751,234,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Preferred stock, par value (in Dollars per share) | $1 | $1 |
Preferred stock, shares authorized | 5,961,200 | 5,961,200 |
Preferred stock, shares issued | 102,000 | 102,000 |
Preferred stock, shares outstanding | 102,000 | 102,000 |
Preferred stock, aggregate liquidation preference (in Dollars) | $975,000 | $975,000 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock,shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 409,731,058 | 407,782,102 |
Common stock,shares outstanding | 409,731,058 | 407,782,102 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | ' | ' | ' |
Revenues from rental properties | $910,356 | $836,881 | $779,156 |
Management and other fee income | 36,317 | 37,522 | 35,321 |
Total revenues | 946,673 | 874,403 | 814,477 |
Operating expenses | ' | ' | ' |
Rent | 13,347 | 12,745 | 13,847 |
Real estate taxes | 117,563 | 110,747 | 104,451 |
Operating and maintenance | 115,151 | 107,204 | 102,538 |
General and administrative expenses | 127,913 | 123,925 | 118,559 |
Provision for doubtful accounts | 8,256 | 6,022 | 5,965 |
Impairment charges | 190,218 | 59,569 | 32,763 |
Depreciation and amortization | 247,537 | 236,923 | 218,260 |
Total operating expenses | 721,171 | 607,855 | 576,697 |
Operating income | 225,502 | 266,548 | 237,780 |
Other income/(expense) | ' | ' | ' |
Mortgage financing income | 4,304 | 7,504 | 7,273 |
Interest, dividends and other investment income | 16,999 | 2,041 | 15,796 |
Other expense, net | -533 | -7,687 | -4,010 |
Interest expense | -213,911 | -225,710 | -221,678 |
Income from other real estate investments | 2,306 | 2,451 | 4,121 |
Gain on sale of development properties | ' | ' | 12,074 |
Income from continuing operations before income taxes, equity in income of joint ventures, gain on change in control of interests and equity in income from other real estate investments | 34,667 | 45,147 | 51,356 |
Provision for income taxes, net | -34,520 | -16,922 | -25,789 |
Equity in income of equity method investments, net | 208,689 | 112,896 | 63,467 |
Income from continuing operations | 261,683 | 210,073 | 141,416 |
Discontinued operations | ' | ' | ' |
Income from discontinued operating properties, net of tax | 18,224 | 21,082 | 40,582 |
Impairment/loss on operating properties sold, net of tax | -83,900 | -38,432 | -17,343 |
Gain on disposition of operating properties, net of tax | 43,914 | 83,253 | 17,327 |
(Loss)/income from discontinued operations | -21,762 | 65,903 | 40,566 |
Gain on sale of operating properties, net of tax | 1,432 | 4,299 | 108 |
Net income | 241,353 | 280,275 | 182,090 |
Net income attributable to noncontrolling interests | -5,072 | -14,202 | -13,039 |
Net income attributable to the Company | 236,281 | 266,073 | 169,051 |
Preferred stock redemption costs | ' | -21,703 | ' |
Preferred dividends | -58,294 | -71,697 | -59,363 |
Net income available to the Company's common shareholders | 177,987 | 172,673 | 109,688 |
Income from continuing operations: | ' | ' | ' |
-Basic (in Dollars per share) | $0.47 | $0.27 | $0.18 |
-Diluted (in Dollars per share) | $0.47 | $0.27 | $0.18 |
Net income attributable to the Company: | ' | ' | ' |
-Basic (in Dollars per share) | $0.43 | $0.42 | $0.27 |
-Diluted (in Dollars per share) | $0.43 | $0.42 | $0.27 |
Weighted average shares: | ' | ' | ' |
-Basic (in Shares) | 407,631 | 405,997 | 406,530 |
-Diluted (in Shares) | 408,614 | 406,689 | 407,669 |
Amounts attributable to the Company's common shareholders: | ' | ' | ' |
Income from continuing operations | 191,448 | 109,903 | 71,921 |
Income/(loss) from discontinued operations | -13,461 | 62,770 | 37,767 |
Gain on change in control of interests, net | 21,711 | 15,555 | 569 |
Joint Ventures [Member] | ' | ' | ' |
Other income/(expense) | ' | ' | ' |
Equity in income of equity method investments, net | 208,689 | 112,896 | 63,467 |
Other Real Estate Investments [Member] | ' | ' | ' |
Other income/(expense) | ' | ' | ' |
Equity in income of equity method investments, net | 31,136 | 53,397 | 51,813 |
Development Properties [Member] | ' | ' | ' |
Other income/(expense) | ' | ' | ' |
Gain on sale of development properties | ' | ' | 12,074 |
Continuing Operations [Member] | ' | ' | ' |
Operating expenses | ' | ' | ' |
Impairment charges | $91,404 | $10,289 | $13,077 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $241,353 | $280,275 | $182,090 |
Other comprehensive income: | ' | ' | ' |
Change in unrealized gain/(loss) on marketable securities | 6,773 | 3,013 | -4,065 |
Change in unrealized gain on interest rate swaps | ' | 450 | 549 |
Change in foreign currency translation adjustment, net | -4,208 | 43,515 | -82,228 |
Other comprehensive income/(loss) | 2,565 | 46,978 | -85,744 |
Comprehensive income | 243,918 | 327,253 | 96,346 |
Comprehensive income attributable to noncontrolling interests | -6,436 | -19,702 | -11,102 |
Comprehensive income attributable to the Company | 237,482 | 307,551 | 85,244 |
Interest Rate Swap [Member] | ' | ' | ' |
Other comprehensive income: | ' | ' | ' |
Change in unrealized gain on interest rate swaps | ' | $450 | $549 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (USD $) | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Contributions [Member] | Contributions [Member] | Redeemable Noncontrolling Interests [Member] | Redeemable Noncontrolling Interests [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Parent [Member] | Parent [Member] | Parent [Member] | Parent [Member] | Noncontrolling Interest [Member] | Series H Preferred Stock [Member] | Series F Preferred Stock [Member] | Series G Preferred Stock [Member] | Series I Preferred Stock [Member] | Series J Preferred Stock [Member] | Series K Preferred Stock [Member] | Common Stock [Member] | Preferred Stock [Member] | Total |
In Thousands, except Share data, unless otherwise specified | Additional Paid-in Capital [Member] | Parent [Member] | Noncontrolling Interest [Member] | USD ($) | Noncontrolling Interest [Member] | USD ($) | Noncontrolling Interest [Member] | USD ($) | Series H Preferred Stock [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Common Stock [Member] | Preferred Stock [Member] | USD ($) | Series H Preferred Stock [Member] | Common Stock [Member] | Preferred Stock [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||
Balance at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($515,164) | ($23,853) | ' | $954 | ' | $4,064 | ' | ' | $5,469,841 | ' | ' | ' | $4,935,842 | $225,444 | ' | ' | ' | ' | ' | ' | ' | ' | $5,161,286 |
Balance (in Shares) at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 954,000 | ' | 406,424,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,045 | ' | ' | ' | ' | ' | ' | ' | ' | 1,045 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 169,051 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 169,051 | 13,039 | ' | ' | ' | ' | ' | ' | ' | ' | 182,090 |
Other comprehensive income, net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in unrealized gain on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,065 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,065 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,065 |
Change in unrealized gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 549 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 549 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 549 |
Change in foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -80,291 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -80,291 | -1,937 | ' | ' | ' | ' | ' | ' | ' | ' | -82,228 |
Redeemable noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,370 | ' | ' | ' | ' | ' | ' | ' | ' | -6,370 |
Dividends ($0.73 per Common Share; $1.6625 per | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | -356,886 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -356,886 | ' | ' | ' | ' | -356,886 | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13,827 | ' | ' | ' | ' | ' | ' | ' | ' | -13,827 |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | 4,936 | ' | ' | ' | 4,941 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,941 |
Issuance of stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 438,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Surrender of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | -579 | ' | ' | ' | -581 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -581 |
Surrender of common stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -34,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | -6,001 | ' | ' | ' | -6,003 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,003 |
Repurchase of common stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -334,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -333,998 |
Exercise of common stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | 6,533 | ' | ' | ' | 6,537 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,537 |
Exercise of common stock options (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 444,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 444,368 |
Acquisition of noncontrolling interests | 4,452 | 4,452 | -23,637 | -19,185 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of equity awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,840 | ' | ' | ' | 12,840 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,840 |
Balance at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -702,999 | -107,660 | ' | 954 | ' | 4,069 | ' | ' | 5,492,022 | ' | ' | ' | 4,686,386 | 193,757 | ' | ' | ' | ' | ' | ' | ' | ' | 4,880,143 |
Balance (in Shares) at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 954,000 | ' | 406,938,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' | ' | 1,384 | 1,384 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 266,073 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 266,073 | 14,202 | ' | ' | ' | ' | ' | ' | ' | ' | 280,275 |
Other comprehensive income, net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in unrealized gain on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,013 |
Change in unrealized gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450 |
Change in foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,015 | 5,500 | ' | ' | ' | ' | ' | ' | ' | ' | 43,515 |
Redeemable noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13,998 |
Dividends ($0.73 per Common Share; $1.6625 per | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -387,082 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -387,082 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -387,082 |
Distributions to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15,328 | ' | ' | ' | ' | ' | ' | ' | ' | -15,328 |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32 | ' | 11 | ' | 18,104 | 774,125 | ' | ' | 18,115 | 774,157 | ' | ' | ' | ' | ' | ' | ' | ' | 18,115 | 774,157 | ' |
Issuance of stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,000 | ' | 1,096,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Surrender of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1 | ' | ' | -2,072 | ' | ' | ' | -2,073 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,073 |
Surrender of common stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -111,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -16 | ' | ' | -30,931 | ' | ' | ' | -30,947 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -30,947 |
Repurchase of common stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,636,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,635,823 |
Exercise of common stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | 22,576 | ' | ' | ' | 22,591 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,591 |
Exercise of common stock options (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,495,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,495,432 |
Acquisition of noncontrolling interests | -95 | -95 | -25,858 | -25,953 | ' | ' | -6,337 | -6,337 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of equity awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,557 | ' | ' | ' | 11,557 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,557 |
Redemption of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -884 | ' | ' | ' | ' | -634,116 | ' | ' | ' | -635,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -635,000 |
Redemption of preferred stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -884,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -824,008 | -66,182 | ' | 102 | ' | 4,078 | ' | ' | 5,651,170 | ' | ' | ' | 4,765,160 | 167,320 | ' | ' | ' | ' | ' | ' | ' | ' | 4,932,480 |
Balance (in Shares) at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102,000 | ' | 407,782,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,026 | ' | ' | ' | ' | ' | ' | ' | ' | 1,026 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 236,281 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 236,281 | 5,072 | ' | ' | ' | ' | ' | ' | ' | ' | 241,353 |
Other comprehensive income, net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in unrealized gain on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,773 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,773 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,773 |
Change in foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,573 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,573 | 1,365 | ' | ' | ' | ' | ' | ' | ' | ' | -4,208 |
Redeemable noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,892 | ' | ' | ' | ' | ' | ' | ' | ' | -6,892 |
Dividends ($0.73 per Common Share; $1.6625 per | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -408,331 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -408,331 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -408,331 |
Distributions to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10,686 | ' | ' | ' | ' | ' | ' | ' | ' | -10,686 |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | 9,208 | ' | ' | ' | 9,213 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,213 | ' | ' |
Issuance of stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 560,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Surrender of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | -3,889 | ' | ' | ' | -3,891 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,891 |
Surrender of common stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -247,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Exercise of common stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | 30,193 | ' | ' | ' | 30,209 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,209 |
Exercise of common stock options (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,636,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,636,300 |
Acquisition of noncontrolling interests | -8,894 | -8,894 | -20,096 | -28,990 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of equity awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,470 | ' | ' | ' | 11,470 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,470 |
Balance at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($996,058) | ($64,982) | ' | $102 | ' | $4,097 | ' | ' | $5,689,258 | ' | ' | ' | $4,632,417 | $137,109 | ' | ' | ' | ' | ' | ' | ' | ' | $4,769,526 |
Balance (in Shares) at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102,000 | ' | 409,731,000 | ' | ' | ' | ' | ' | ' | ' | ' | 70,000 | ' | ' | 16,000 | 9,000 | 7,000 | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Dividends per Common Share | $0.86 | $0.78 | $0.73 |
Series H Preferred Stock [Member] | ' | ' | ' |
Dividends per Depositary share | $1.73 | $1.73 | $1.73 |
Series F Preferred Stock [Member] | ' | ' | ' |
Dividends per Depositary share | ' | $1.03 | $1.66 |
Series G Preferred Stock [Member] | ' | ' | ' |
Dividends per Depositary share | ' | $1.50 | $1.94 |
Series I Preferred Stock [Member] | ' | ' | ' |
Dividends per Depositary share | $1.50 | $1.17 | ' |
Series J Preferred Stock [Member] | ' | ' | ' |
Dividends per Depositary share | $1.38 | $0.60 | ' |
Series K Preferred Stock [Member] | ' | ' | ' |
Dividends per Depositary share | $1.41 | $0.09 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flow from operating activities: | ' | ' | ' |
Net income | $241,353 | $280,275 | $182,090 |
Depreciation and amortization | 257,855 | 262,742 | 251,139 |
Impairment charges | 190,218 | 59,569 | 32,763 |
Gain on sale of development properties | ' | ' | -12,074 |
Gain on sale of operating properties | -51,529 | -94,369 | -17,435 |
Equity in income of joint ventures, net | -208,689 | -112,896 | -63,467 |
Gain on change in control of interests, net | -21,711 | -15,555 | -569 |
Equity in income from other real estate investments, net | -31,136 | -53,397 | -51,813 |
Distributions from joint ventures and other real estate investments | 258,050 | 194,110 | 163,048 |
Change in accounts and notes receivable | 7,213 | 2,940 | -19,271 |
Change in accounts payable and accrued expenses | 10,166 | -11,281 | -8,082 |
Change in other operating assets and liabilities | -81,755 | -33,084 | -7,716 |
Net cash flow provided by operating activities | 570,035 | 479,054 | 448,613 |
Cash flow from investing activities: | ' | ' | ' |
Acquisition of operating real estate | -354,287 | -442,541 | -268,282 |
Improvements to operating real estate | -107,277 | -109,928 | -75,017 |
Improvements to real estate under development | -591 | -2,487 | -37,896 |
Investment in marketable securities | -33,588 | ' | ' |
Proceeds from sale/repayments of marketable securities | 26,406 | 156 | 188,003 |
Investments and advances to real estate joint ventures | -296,550 | -219,885 | -171,695 |
Reimbursements of investments and advances to real estate joint ventures | 440,161 | 187,856 | 63,529 |
Investment in other real estate investments | -23,566 | -5,638 | -6,958 |
Reimbursements of investments and advances to other real estate investments | 30,151 | 33,720 | 68,881 |
Investment in mortgage loans receivable | -11,469 | -16,021 | ' |
Collection of mortgage loans receivable | 29,192 | 63,600 | 19,148 |
Investment in other investments | -21,366 | -924 | -730 |
Reimbursements of other investments | 9,175 | 11,553 | 20,116 |
Proceeds from sale of operating properties | 385,844 | 449,539 | 135,646 |
Proceeds from sale of development properties | ' | ' | 44,495 |
Net cash flow provided by/(used for) investing activities | 72,235 | -51,000 | -20,760 |
Cash flow from financing activities: | ' | ' | ' |
Principal payments on debt, excluding normal amortization of rental property debt | -256,346 | -284,815 | -62,470 |
Principal payments on rental property debt | -23,804 | -23,130 | -22,720 |
Principal payments on construction loan financings | ' | -2,177 | -3,428 |
Proceeds from mortgage/construction loan financings | 35,974 | 14,776 | 20,346 |
(Repayments)/Proceeds under unsecured revolving credit facility, net | -57,775 | 8,559 | 112,137 |
Proceeds from issuance of unsecured term loan/notes | 621,562 | 400,000 | ' |
Repayments under unsecured term loan/notes | -546,717 | -215,900 | -92,600 |
Financing origination costs | -8,041 | -2,138 | -11,478 |
Redemption of noncontrolling interests | -30,086 | -42,315 | -26,682 |
Dividends paid | -400,354 | -382,722 | -353,764 |
Proceeds from issuance of stock | 30,210 | 796,748 | 6,537 |
Redemption of preferred stock | ' | -635,000 | ' |
Repurchase of common stock | ' | -30,947 | -6,003 |
Net cash flow used for financing activities | -635,377 | -399,061 | -440,125 |
Change in cash and cash equivalents | 6,893 | 28,993 | -12,272 |
Cash and cash equivalents, beginning of year | 141,875 | 112,882 | 125,154 |
Cash and cash equivalents, end of year | 148,768 | 141,875 | 112,882 |
Interest paid during the year (net of capitalized interest of $1,263, $1,538 and $7,086, respectively) | 216,258 | 226,775 | 220,270 |
Income taxes paid during the year | $33,838 | $2,122 | $2,606 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash paid for capitalized interest | $1,263 | $1,538 | $7,086 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||
Amounts relating to the number of buildings, square footage, tenant and occupancy data, joint venture debt average interest rates and terms and estimated project costs are unaudited. | |||||||||||||
1. Summary of Significant Accounting Policies: | |||||||||||||
Business | |||||||||||||
Kimco Realty Corporation and subsidiaries (the "Company" or "Kimco"), affiliates and related real estate joint ventures are engaged principally in the operation of neighborhood and community shopping centers which are anchored generally by discount department stores, supermarkets or drugstores. The Company also provides property management services for shopping centers owned by affiliated entities, various real estate joint ventures and unaffiliated third parties. | |||||||||||||
Additionally, in connection with the Tax Relief Extension Act of 1999 (the "RMA"), which became effective January 1, 2001, the Company is permitted to participate in activities which it was precluded from previously in order to maintain its qualification as a Real Estate Investment Trust ("REIT"), so long as these activities are conducted in entities which elect to be treated as taxable subsidiaries under the Internal Revenue Code, as amended (the "Code"), subject to certain limitations. As such, the Company, through its wholly-owned taxable REIT subsidiaries (“TRS”), has been engaged in various retail real estate related opportunities including (i) ground-up development of neighborhood and community shopping centers and the subsequent sale thereof upon completion and (ii) retail real estate management and disposition services which primarily focuses on leasing and disposition strategies of retail real estate controlled by both healthy and distressed and/or bankrupt retailers. The Company may consider other investments through its TRS should suitable opportunities arise. | |||||||||||||
The Company seeks to reduce its operating and leasing risks through diversification achieved by the geographic distribution of its properties, avoiding dependence on any single property and a large tenant base. At December 31, 2013, the Company's single largest neighborhood and community shopping center accounted for only 1.7% of the Company's annualized base rental revenues and only 1.3% of the Company’s total shopping center gross leasable area ("GLA"), including the proportionate share of base rental revenues from properties in which the Company has less than a 100% economic interest. At December 31, 2013, the Company’s five largest tenants were TJX Companies, The Home Depot, Wal-Mart, Bed Bath & Beyond, and Kohl’s which represented 3.0%, 2.8%, 2.3%, 1.8% and 1.7%, respectively, of the Company’s annualized base rental revenues, including the proportionate share of base rental revenues from properties in which the Company has less than a 100% economic interest. | |||||||||||||
The principal business of the Company and its consolidated subsidiaries is the ownership, management, development and operation of retail shopping centers, including complementary services that capitalize on the Company’s established retail real estate expertise. The Company evaluates performance on a property specific or transactional basis and does not distinguish its principal business or group its operations on a geographical basis for purposes of measuring performance. Accordingly, the Company believes it has a single reportable segment for disclosure purposes in accordance with accounting principles generally accepted in the United States of America ("GAAP"). | |||||||||||||
Principles of Consolidation and Estimates | |||||||||||||
The accompanying Consolidated Financial Statements include the accounts of Kimco Realty Corporation and subsidiaries (the “Company”). The Company’s subsidiaries includes subsidiaries which are wholly-owned and all entities in which the Company has a controlling interest, including where the Company has been determined to be a primary beneficiary of a variable interest entity (“VIE”) or meets certain criteria of a sole general partner or managing member in accordance with the Consolidation guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). All inter-company balances and transactions have been eliminated in consolidation. | |||||||||||||
GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and related intangible assets and liabilities, equity method investments, marketable securities and other investments, including the assessment of impairments, as well as, depreciable lives, revenue recognition, the collectability of trade accounts receivable, realizability of deferred tax assets and the assessment of uncertain tax positions. Application of these assumptions requires the exercise of judgment as to future uncertainties, and, as a result, actual results could differ from these estimates. | |||||||||||||
Subsequent Events | |||||||||||||
The Company has evaluated subsequent events and transactions for potential recognition or disclosure in its consolidated financial statements. | |||||||||||||
Real Estate | |||||||||||||
Real estate assets are stated at cost, less accumulated depreciation and amortization. Upon acquisition of real estate operating properties, the Company estimates the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases, in-place leases and tenant relationships, where applicable), assumed debt and redeemable units issued at the date of acquisition, based on evaluation of information and estimates available at that date. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a retrospective basis. The Company expenses transaction costs associated with business combinations in the period incurred. | |||||||||||||
In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the present value of the difference between the contractual amounts, including fixed rate below-market lease renewal options, to be paid pursuant to the leases and management’s estimate of the market lease rates and other lease provisions (i.e., expense recapture, base rental changes, etc.) measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market intangible is amortized to rental income over the estimated remaining term of the respective leases, which includes the expected renewal option period. Mortgage debt discounts or premiums are amortized into interest expense over the remaining term of the related debt instrument. Unit discounts and premiums are amortized into noncontrolling interest in income, net over the period from the date of issuance to the earliest redemption date of the units. | |||||||||||||
In determining the value of in-place leases, management considers current market conditions and costs to execute similar leases in arriving at an estimate of the carrying costs during the expected lease-up period from vacant to existing occupancy. In estimating carrying costs, management includes real estate taxes, insurance, other operating expenses, estimates of lost rental revenue during the expected lease-up periods and costs to execute similar leases including leasing commissions, legal and other related costs based on current market demand. The value assigned to in-place leases and tenant relationships is amortized over the estimated remaining term of the leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs relating to that lease would be written off. | |||||||||||||
Depreciation and amortization are provided on the straight-line method over the estimated useful lives of the assets, as follows: | |||||||||||||
Buildings and building improvements | 15 to 50 years | ||||||||||||
Fixtures, leasehold and tenant improvements (including certain identified intangible assets) | Terms of leases or useful lives, whichever is shorter | ||||||||||||
Expenditures for maintenance and repairs are charged to operations as incurred. Significant renovations and replacements, which improve or extend the life of the asset, are capitalized. The useful lives of amortizable intangible assets are evaluated each reporting period with any changes in estimated useful lives being accounted for over the revised remaining useful life. | |||||||||||||
When a real estate asset is identified by management as held-for-sale, the Company ceases depreciation of the asset and estimates the sales price, net of selling costs. If the net sales price of the asset is less than the net book value of the asset, an adjustment to the carrying value would be recorded to reflect the estimated fair value of the property. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may be impaired. A property value is considered impaired only if management’s estimate of current and projected operating cash flows (undiscounted and unleveraged) of the property over its remaining useful life is less than the net carrying value of the property. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. To the extent impairment has occurred, the carrying value of the property would be adjusted to an amount to reflect the estimated fair value of the property. | |||||||||||||
Real Estate Under Development | |||||||||||||
Real estate under development represents both the ground-up development of neighborhood and community shopping center projects which may be subsequently sold upon completion and projects which the Company may hold as long-term investments. These properties are carried at cost. The cost of land and buildings under development includes specifically identifiable costs. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs of personnel directly involved and other costs incurred during the period of development. The Company ceases cost capitalization when the property is held available for occupancy upon substantial completion of tenant improvements, but no later than one year from the completion of major construction activity. If, in management’s opinion, the net sales price of assets held for resale or the current and projected undiscounted cash flows of these assets to be held as long-term investments is less than the net carrying value, the carrying value would be adjusted to an amount that reflects the estimated fair value of the property. | |||||||||||||
Investments in Unconsolidated Joint Ventures | |||||||||||||
The Company accounts for its investments in unconsolidated joint ventures under the equity method of accounting as the Company exercises significant influence, but does not control these entities. These investments are recorded initially at cost and subsequently adjusted for cash contributions and distributions. Earnings for each investment are recognized in accordance with each respective investment agreement and where applicable, based upon an allocation of the investment’s net assets at book value as if the investment was hypothetically liquidated at the end of each reporting period. | |||||||||||||
The Company’s joint ventures and other real estate investments primarily consist of co-investments with institutional and other joint venture partners in neighborhood and community shopping center properties, consistent with its core business. These joint ventures typically obtain non-recourse third-party financing on their property investments, thus contractually limiting the Company’s exposure to losses primarily to the amount of its equity investment; and due to the lender’s exposure to losses, a lender typically will require a minimum level of equity in order to mitigate its risk. The Company, on a limited selective basis, has obtained unsecured financing for certain joint ventures. These unsecured financings are guaranteed by the Company with guarantees from the joint venture partners for their proportionate amounts of any guaranty payment the Company is obligated to make. | |||||||||||||
To recognize the character of distributions from equity investees the Company reviews the nature of the cash distribution to determine the proper character of cash flow distributions as either returns on investment, which would be included in operating activities or returns of investment, which would be included in investing activities. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators, including the underlying investment property operating performance and general market conditions, that the value of the Company’s investments in unconsolidated joint ventures may be impaired. An investment’s value is impaired only if management’s estimate of the fair value of the investment is less than the carrying value of the investment and such difference is deemed to be other-than-temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. | |||||||||||||
The Company’s estimated fair values are based upon a discounted cash flow model for each joint venture that includes all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums. Capitalization rates, discount rates and credit spreads utilized in these models are based upon rates that the Company believes to be within a reasonable range of current market rates. | |||||||||||||
Other Real Estate Investments | |||||||||||||
Other real estate investments primarily consist of preferred equity investments for which the Company provides capital to owners and developers of real estate. The Company typically accounts for its preferred equity investments on the equity method of accounting, whereby earnings for each investment are recognized in accordance with each respective investment agreement and based upon an allocation of the investment’s net assets at book value as if the investment was hypothetically liquidated at the end of each reporting period. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators, including the underlying investment property operating performance and general market conditions, that the value of the Company’s Other real estate investments may be impaired. An investment’s value is impaired only if management’s estimate of the fair value of the investment is less than the carrying value of the investment and such difference is deemed to be other-than-temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. | |||||||||||||
The Company’s estimated fair values are based upon a discounted cash flow model for each investment that includes all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums. Capitalization rates, discount rates and credit spreads utilized in these models are based upon rates that the Company believes to be within a reasonable range of current market rates. | |||||||||||||
Mortgages and Other Financing Receivables | |||||||||||||
Mortgages and other financing receivables consist of loans acquired and loans originated by the Company. Borrowers of these loans are primarily experienced owners, operators or developers of commercial real estate. The Company’s loans are primarily mortgage loans that are collateralized by real estate. Loan receivables are recorded at stated principal amounts, net of any discount or premium or deferred loan origination costs or fees. The related discounts or premiums on mortgages and other loans purchased are amortized or accreted over the life of the related loan receivable. The Company defers certain loan origination and commitment fees, net of certain origination costs and amortizes them as an adjustment of the loan’s yield over the term of the related loan. The Company reviews on a quarterly basis credit quality indicators such as (i) payment status to identify performing versus non-performing loans, (ii) changes affecting the underlying real estate collateral and (iii) national and regional economic factors. | |||||||||||||
Interest income on performing loans is accrued as earned. A non-performing loan is placed on non-accrual status when it is probable that the borrower may be unable to meet interest payments as they become due. Generally, loans 90 days or more past due are placed on non-accrual status unless there is sufficient collateral to assure collectability of principal and interest. Upon the designation of non-accrual status, all unpaid accrued interest is reserved against through current income. Interest income on non-performing loans is generally recognized on a cash basis. Recognition of interest income on non-performing loans on an accrual basis is resumed when it is probable that the Company will be able to collect amounts due according to the contractual terms. | |||||||||||||
The Company has determined that it has one portfolio segment, primarily represented by loans collateralized by real estate, whereby it determines, as needed, reserves for loan losses on an asset-specific basis. The reserve for loan losses reflects management's estimate of loan losses as of the balance sheet date. The reserve is increased through loan loss expense and is decreased by charge-offs when losses are confirmed through the receipt of assets such as cash or via ownership control of the underlying collateral in full satisfaction of the loan upon foreclosure or when significant collection efforts have ceased. | |||||||||||||
The Company considers a loan to be impaired when, based upon current information and events, it is probable that the Company will be unable to collect all amounts due under the existing contractual terms. A reserve allowance is established for an impaired loan when the estimated fair value of the underlying collateral (for collateralized loans) or the present value of expected future cash flows is lower than the carrying value of the loan. An internal valuation is performed generally using the income approach to estimate the fair value of the collateral at the time a loan is determined to be impaired. The model is updated if circumstances indicate a significant change in value has occurred. The Company does not provide for an additional allowance for loan losses based on the grouping of loans as the Company believes the characteristics of the loans are not sufficiently similar to allow an evaluation of these loans as a group for a possible loan loss allowance. As such, all of the Company’s loans are evaluated individually for impairment purposes. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
Cash and cash equivalents (demand deposits in banks, commercial paper and certificates of deposit with original maturities of three months or less). Cash and cash equivalent balances may, at a limited number of banks and financial institutions, exceed insurable amounts. The Company believes it mitigates risk by investing in or through major financial institutions and primarily in funds that are currently U.S. federal government insured. Recoverability of investments is dependent upon the performance of the issuers. | |||||||||||||
Marketable Securities | |||||||||||||
The Company classifies its marketable equity securities as available-for-sale in accordance with the FASB’s Investments-Debt and Equity Securities guidance. These securities are carried at fair market value with unrealized gains and losses reported in stockholders’ equity as a component of Accumulated other comprehensive income ("AOCI"). Gains or losses on securities sold are based on the specific identification method. | |||||||||||||
All debt securities are generally classified as held-to-maturity because the Company has the positive intent and ability to hold the securities to maturity. It is more likely than not that the Company will not be required to sell the debt security before its anticipated recovery and the Company expects to recover the security’s entire amortized cost basis even if the entity does not intend to sell. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity. Debt securities which contain conversion features generally are classified as available-for-sale. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators that the value of the Company’s marketable securities may be impaired, which includes reviewing the underlying cause of any decline in value and the estimated recovery period, as well as the severity and duration of the decline. In the Company’s evaluation, the Company considers its ability and intent to hold these investments for a reasonable period of time sufficient for the Company to recover its cost basis. A marketable security is impaired if the fair value of the security is less than the carrying value of the security and such difference is deemed to be other-than-temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the security over the estimated fair value in the security. | |||||||||||||
Deferred Leasing and Financing Costs | |||||||||||||
Costs incurred in obtaining tenant leases and long-term financing, included in deferred charges and prepaid expenses in the accompanying Consolidated Balance Sheets, are amortized on a straight-line basis, which approximates the effective interest method, over the terms of the related leases or debt agreements, as applicable. Such capitalized costs include salaries, lease incentives and related costs of personnel directly involved in successful leasing efforts. | |||||||||||||
Software Development Costs | |||||||||||||
Expenditures for major software purchases and software developed for internal use are capitalized and amortized on a straight-line basis generally over a 3 to 5 year period. The Company’s policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance and all other post-implementation stage activities are expensed as incurred. As of December 31, 2013 and 2012, the Company had unamortized software development costs of $28.2 million and $26.8 million, respectively, which is included in Other assets on the Company’s Consolidated Balance Sheets. The Company incurred $7.6 million, $5.5 million and $3.1 million in amortization of software development costs during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Revenue Recognition and Accounts Receivable | |||||||||||||
Base rental revenues from rental property are recognized on a straight-line basis over the terms of the related leases. Certain of these leases also provide for percentage rents based upon the level of sales achieved by the lessee. These percentage rents are recognized once the required sales level is achieved. Rental income may also include payments received in connection with lease termination agreements. In addition, leases typically provide for reimbursement to the Company of common area maintenance costs, real estate taxes and other operating expenses. Operating expense reimbursements are recognized as earned. | |||||||||||||
Management and other fee income consists of property management fees, leasing fees, property acquisition and disposition fees, development fees and asset management fees. These fees arise from contractual agreements with third parties or with entities in which the Company has a noncontrolling interest. Management and other fee income, including acquisition and disposition fees, are recognized as earned under the respective agreements. Management and other fee income related to partially owned entities are recognized to the extent attributable to the unaffiliated interest. | |||||||||||||
Gains and losses from the sale of depreciated operating property and ground-up development projects are generally recognized using the full accrual method in accordance with the FASB’s real estate sales guidance, provided that various criteria relating to the terms of sale and subsequent involvement by the Company with the properties are met. | |||||||||||||
Gains and losses on transfers of operating properties result from the sale of a partial interest in properties to unconsolidated joint ventures and are recognized using the partial sale provisions of the FASB’s real estate sales guidance. | |||||||||||||
The Company makes estimates of the uncollectability of its accounts receivable related to base rents, straight-line rent, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net earnings are directly affected by management’s estimate of the collectability of accounts receivable. | |||||||||||||
Income Taxes | |||||||||||||
The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally will not be subject to federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income as defined under Section 856 through 860 of the Code. | |||||||||||||
In connection with the RMA, which became effective January 1, 2001, the Company is permitted to participate in certain activities which it was previously precluded from in order to maintain its qualification as a REIT, so long as these activities are conducted by entities which elect to be treated as taxable REIT subsidiaries under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. The Company is also subject to local taxes on certain non-U.S. investments. | |||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance for deferred tax assets for which it does not consider realization of such assets to be more likely than not. | |||||||||||||
The Company reviews the need to establish a valuation allowance against deferred tax assets on a quarterly basis. The review includes an analysis of various factors, such as future reversals of existing taxable temporary differences, the capacity for the carryback or carryforward of any losses, the expected occurrence of future income or loss and available tax planning strategies. | |||||||||||||
The Company applies the FASB’s guidance relating to uncertainty in income taxes recognized in a Company’s financial statements. Under this guidance the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also provides guidance on de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. | |||||||||||||
Foreign Currency Translation and Transactions | |||||||||||||
Assets and liabilities of the Company’s foreign operations are translated using year-end exchange rates, and revenues and expenses are translated using exchange rates as determined throughout the year. Gains or losses resulting from translation are included in AOCI, as a separate component of the Company’s stockholders’ equity. Gains or losses resulting from foreign currency transactions are translated to local currency at the rates of exchange prevailing at the dates of the transactions. The effect of the transactions gain or loss is included in the caption Other expense, net in the Consolidated Statements of Income. The Company is required to release cumulative translation adjustment (“CTA”) balances into earnings when the Company has substantially liquidated its investment in a foreign entity. | |||||||||||||
Derivative/Financial Instruments | |||||||||||||
The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risk through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company may use derivatives to manage exposures that arise from changes in interest rates, foreign currency exchange rate fluctuations and market value fluctuations of equity securities. The Company limits these risks by following established risk management policies and procedures including the use of derivatives. | |||||||||||||
The Company measures its derivative instruments at fair value and records them in the Consolidated Balance Sheet as an asset or liability, depending on the Company’s rights or obligations under the applicable derivative contract. The accounting for changes in the fair value of the derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting under the Derivatives and Hedging guidance issued by the FASB. | |||||||||||||
The effective portion of the changes in fair value of derivatives designated and that qualify as cash flow hedges is recorded in AOCI and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Any ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During 2013, 2012 and 2011, the Company had no hedge ineffectiveness. | |||||||||||||
Noncontrolling Interests | |||||||||||||
The Company accounts for noncontrolling interests in accordance with the Consolidation guidance and the Distinguishing Liabilities from Equity guidance issued by the FASB. Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates. The Company identifies its noncontrolling interests separately within the equity section on the Company’s Consolidated Balance Sheets. The amounts of consolidated net earnings attributable to the Company and to the noncontrolling interests are presented separately on the Company’s Consolidated Statements of Income. | |||||||||||||
Noncontrolling interests also includes amounts related to partnership units issued by consolidated subsidiaries of the Company in connection with certain property acquisitions. These units have a stated redemption value or a defined redemption amount based upon the trading price of the Company’s common stock and provides the unit holders various rates of return during the holding period. The unit holders generally have the right to redeem their units for cash at any time after one year from issuance. For convertible units, the Company typically has the option to settle redemption amounts in cash or common stock. | |||||||||||||
The Company evaluates the terms of the partnership units issued in accordance with the FASB’s Distinguishing Liabilities from Equity guidance. Units which embody an unconditional obligation requiring the Company to redeem the units for cash after a specified or determinable date (or dates) or upon an event that is certain to occur are determined to be mandatorily redeemable under this guidance and are included as Redeemable noncontrolling interest and classified within the mezzanine section between Total liabilities and Stockholders’ equity on the Company’s Consolidated Balance Sheets. Convertible units for which the Company has the option to settle redemption amounts in cash or Common Stock are included in the caption Noncontrolling interest within the equity section on the Company’s Consolidated Balance Sheets. | |||||||||||||
Earnings Per Share | |||||||||||||
The following table sets forth the reconciliation of earnings and the weighted-average number of shares used in the calculation of basic and diluted earnings per share (amounts presented in thousands, except per share data): | |||||||||||||
For the year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Computation of Basic Earnings Per Share: | |||||||||||||
Income from continuing operations | $ | 261,683 | $ | 210,073 | $ | 141,416 | |||||||
Gain on sale of operating properties, net of tax | 1,432 | 4,299 | 108 | ||||||||||
Net income attributable to noncontrolling interests | (5,072 | ) | (14,202 | ) | (13,039 | ) | |||||||
Discontinued operations attributable to noncontrolling interests | (8,301 | ) | 3,133 | 2,799 | |||||||||
Preferred stock redemption costs | - | (21,703 | ) | - | |||||||||
Preferred stock dividends | (58,294 | ) | (71,697 | ) | (59,363 | ) | |||||||
Income from continuing operations available to the common Shareholders | 191,448 | 109,903 | 71,921 | ||||||||||
Earnings attributable to unvested restricted shares | (1,360 | ) | (1,221 | ) | (608 | ) | |||||||
Income from continuing operations attributable to common Shareholders | 190,088 | 108,682 | 71,313 | ||||||||||
(Loss)/income from discontinued operations attributable to the Company | (13,461 | ) | 62,770 | 37,767 | |||||||||
Net income attributable to the Company’s common shareholders for basic earnings per share | $ | 176,627 | $ | 171,452 | $ | 109,080 | |||||||
Weighted average common shares outstanding | 407,631 | 405,997 | 406,530 | ||||||||||
Basic Earnings Per Share Attributable to the Company’s Common Shareholders: | |||||||||||||
Income from continuing operations | $ | 0.47 | $ | 0.27 | $ | 0.18 | |||||||
(Loss)/income from discontinued operations | (0.04 | ) | 0.15 | 0.09 | |||||||||
Net income | $ | 0.43 | $ | 0.42 | $ | 0.27 | |||||||
Computation of Diluted Earnings Per Share: | |||||||||||||
Income from continuing operations attributable to common shareholders | $ | 190,088 | $ | 108,682 | $ | 71,313 | |||||||
(Loss)/income from discontinued operations attributable to the Company | (13,461 | ) | 62,770 | 37,767 | |||||||||
Net income attributable to the Company’s common shareholders for diluted earnings per share | $ | 176,627 | $ | 171,452 | $ | 109,080 | |||||||
Weighted average common shares outstanding – basic | 407,631 | 405,997 | 406,530 | ||||||||||
Effect of dilutive securities(a): | |||||||||||||
Equity awards | 983 | 692 | 1,139 | ||||||||||
Shares for diluted earnings per common share | 408,614 | 406,689 | 407,669 | ||||||||||
Diluted Earnings Per Share Attributable to the Company’s Common Shareholders: | |||||||||||||
Income from continuing operations | $ | 0.47 | $ | 0.27 | $ | 0.18 | |||||||
(Loss)/income from discontinued operations | (0.04 | ) | 0.15 | 0.09 | |||||||||
Net income | $ | 0.43 | $ | 0.42 | $ | 0.27 | |||||||
(a) The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 10,950,388, 11,159,160 and 13,304,016, stock options that were not dilutive as of December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The Company's unvested restricted share awards contain non-forfeitable rights to distributions or distribution equivalents. The impact of the unvested restricted share awards on earnings per share has been calculated using the two-class method whereby earnings are allocated to the unvested restricted share awards based on dividends declared and the unvested restricted shares' participation rights in undistributed earnings. | |||||||||||||
Stock Compensation | |||||||||||||
The Company maintains two equity participation plans, the Second Amended and Restated 1998 Equity Participation Plan (the “Prior Plan”) and the 2010 Equity Participation Plan (the “2010 Plan”) (collectively, the “Plans”). The Prior Plan provides for a maximum of 47,000,000 shares of the Company’s common stock to be issued for qualified and non-qualified options and restricted stock grants. The 2010 Plan provides for a maximum of 10,000,000 shares of the Company’s common stock to be issued for qualified and non-qualified options, restricted stock, performance awards and other awards, plus the number of shares of common stock which are or become available for issuance under the Prior Plan and which are not thereafter issued under the Prior Plan, subject to certain conditions. Unless otherwise determined by the Board of Directors at its sole discretion, options granted under the Plans generally vest ratably over a range of three to five years, expire ten years from the date of grant and are exercisable at the market price on the date of grant. Restricted stock grants generally vest (i) 100% on the fourth or fifth anniversary of the grant, (ii) ratably over three or four years, (iii) over three years at 50% after two years and 50% after the third year or (iv) over ten years at 20% per year commencing after the fifth year. Performance share awards provide a potential to receive shares of restricted stock based on the Company’s performance relative to its peers, as defined, or based on other performance criteria as determined by the Board of Directors. In addition, the Plans provide for the granting of certain options and restricted stock to each of the Company’s non-employee directors (the “Independent Directors”) and permits such Independent Directors to elect to receive deferred stock awards in lieu of directors’ fees. | |||||||||||||
The Company accounts for equity awards in accordance with the FASB’s Stock Compensation guidance which requires that all share based payments to employees, be recognized in the Statement of Income over the service period based on their fair values. Fair value is determined, depending on the type of award, using either the Black-Scholes option pricing formula or the Monte Carlo method, both of which are intended to estimate the fair value of the awards at the grant date (see Footnote 20 for additional disclosure on the assumptions and methodology). | |||||||||||||
New Accounting Pronouncements | |||||||||||||
In July 2013, the FASB released ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-11”). This update requires that an unrecognized tax benefit, or portion of an unrecognized tax benefit, be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. If an applicable deferred tax asset is not available or a company does not expect to use the applicable deferred tax asset, the unrecognized tax benefit should be presented as a liability in the financial statements and should not be combined with an unrelated deferred tax asset. The amendments in ASU 2013-11 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, with early adoption permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date, however retrospective application is permitted. The Company early adopted, on a prospective basis, ASU 2013-11 during 2013. The adoption of this ASU did not have a material impact on the Company’s financial position or results of operations (see Footnote 21). | |||||||||||||
Additionally, during July 2013, the FASB released ASU 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2013-10”). The update permits the Fed Funds Effective Swap Rate (“OIS”) to be used as a U.S. benchmark interest rate for hedge accounting purposes. In addition, the amendments remove the restriction on using different benchmark rates for similar hedges. The provisions of ASU 2013-10 are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of ASU 2013-10 did not have a material impact on the Company’s financial position or results of operations. | |||||||||||||
In February 2013, the FASB issued new guidance regarding liabilities, Accounting Standards Update ("ASU") 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (“ASU 2013-04”), effective retrospectively for fiscal years beginning after December 15, 2013 and interim periods within those years. The amendments require an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date, as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. In addition, the amendments require an entity to disclose the nature and amount of the obligation, as well as other information about the obligations. The adoption of ASU 2013-04 is not expected to have a material impact on the Company’s financial position or results of operations. | |||||||||||||
In January 2013, the FASB released ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). This guidance is the culmination of the board’s redeliberation on reporting reclassification adjustments from accumulated other comprehensive income. The standard requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source (e.g., the release due to cash flow hedges from interest rate contracts) and the income statement line items affected by the reclassification (e.g., interest income or interest expense). If a component is not required to be reclassified to net income in its entirety (e.g., the net periodic pension cost), companies would instead cross reference to the related footnote for additional information (e.g., the pension footnote). The new requirements will take effect for public companies in interim and annual reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact on the Company’s financial statement presentation or disclosures. | |||||||||||||
In December 2011, the FASB released ASU 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). ASU 2011-11 requires companies to provide new disclosures about offsetting and related arrangements for financial instruments and derivatives. The provisions of ASU 2011-11 are effective for annual reporting periods beginning on or after January 1, 2013, and are required to be applied retrospectively. The adoption of ASU 2011-11 did not have a material impact on the Company’s financial statement presentation. | |||||||||||||
Reclassifications | |||||||||||||
The Company made certain immaterial reclassifications to the Company’s Consolidated Balance Sheets as of December 31, 2012, to conform to the current year presentation. |
Note_2_Real_Estate
Note 2 - Real Estate | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Real Estate [Abstract] | ' | ||||||||
Real Estate Disclosure [Text Block] | ' | ||||||||
2. Real Estate: | |||||||||
The Company’s components of Rental property consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 1,989,830 | $ | 1,927,800 | |||||
Undeveloped land | 82,269 | 96,500 | |||||||
Buildings and improvements: | |||||||||
Buildings | 4,572,740 | 4,607,931 | |||||||
Building improvements | 1,168,959 | 1,091,810 | |||||||
Tenant improvements | 725,570 | 708,626 | |||||||
Fixtures and leasehold improvements | 61,015 | 59,690 | |||||||
Other rental property (1) | 425,143 | 357,667 | |||||||
9,025,526 | 8,850,024 | ||||||||
Accumulated depreciation and amortization | (1,878,681 | ) | (1,745,462 | ) | |||||
Total | $ | 7,146,845 | $ | 7,104,562 | |||||
(1) At December 31, 2013 and 2012, Other rental property (net of accumulated amortization of $252.8 million and $212.9 million, respectively), consisted of intangible assets including (i) $290,838 and $237,166, respectively, of in-place leases, (ii) $21,326 and $21,335, respectively, of tenant relationships, and (iii) $112,979 and $99,166, respectively, of above-market leases. | |||||||||
In addition, at December 31, 2013 and 2012, the Company had intangible liabilities relating to below-market leases from property acquisitions of $181.5 million and $167.2 million, respectively, net of accumulated amortization of $155.7 million and $138.3 million, respectively. These amounts are included in the caption Other liabilities in the Company’s Consolidated Balance Sheets. | |||||||||
The Company’s amortization associated with the above and below market leases for the years ended December 31, 2013, 2012 and 2011 were net increases to revenue of $11.9 million, $14.9 million and $12.0 million, respectively. The estimated net amortization associated with the Company’s above and below market leases for the next five years are as follows (in millions): 2014, $10.5; 2015, $10.8; 2016, $11.0; 2017, $9.7 and 2018, $7.4. | |||||||||
The Company’s amortization expense associated with leases in place and tenant relationships for the years ended December 31, 2013, 2012 and 2011 was $33.2 million, $30.1 million and $26.9 million, respectively. The estimated net amortization associated with the Company’s these intangible assets for the next five years are as follows (in millions): 2014, $18.6; 2015, $15.3; 2016, $12.4; 2017, $10.1 and 2018, $8.2. |
Note_3_Property_Acquisitions_D
Note 3 - Property Acquisitions, Developments and Other Investments | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||||||||||||||||
3. Property Acquisitions, Developments and Other Investments: | |||||||||||||||||||||||
Operating property acquisitions, ground-up development costs and other investments have been funded principally through the application of proceeds from the Company's public equity and unsecured debt issuances, proceeds from mortgage financings, proceeds from the disposition of properties and availability under the Company’s revolving lines of credit. | |||||||||||||||||||||||
Acquisition of Operating Properties – | |||||||||||||||||||||||
During the year ended December 31, 2013, the Company acquired the following properties, in separate transactions (in thousands): | |||||||||||||||||||||||
Purchase Price | |||||||||||||||||||||||
Property Name | Location | Month | Cash | Debt Assumed | Other | Total | GLA* | ||||||||||||||||
Acquired | |||||||||||||||||||||||
Santee Trolley Square (1) | Santee, CA | 13-Jan | $ | 26,863 | $ | 48,456 | $ | 22,681 | $ | 98,000 | 311 | ||||||||||||
Shops at Kildeer (2) | Kildeer, IL | 13-Jan | - | 32,724 | - | 32,724 | 168 | ||||||||||||||||
Village Commons S.C. | Tallahassee, FL | 13-Jan | 7,100 | - | - | 7,100 | 125 | ||||||||||||||||
Putty Hill Plaza (3) | Baltimore, MD | 13-Jan | 4,592 | 9,115 | 489 | 14,196 | 91 | ||||||||||||||||
Columbia Crossing II S.C. | Columbia, MD | 13-Jan | 21,800 | - | - | 21,800 | 101 | ||||||||||||||||
Roseville Plaza Outparcel | Roseville, MN | 13-Jan | 5,143 | - | - | 5,143 | 80 | ||||||||||||||||
Wilton River Park (4) | Wilton, CT | 13-Mar | 777 | 36,000 | 5,223 | 42,000 | 187 | ||||||||||||||||
Canyon Square (5) | Santa Clarita, CA | 13-Apr | 1,950 | 13,800 | - | 15,750 | 97 | ||||||||||||||||
JTS Portfolio (7 properties) (6) | Baton Rouge, LA | 13-Apr | - | 43,267 | 11,733 | 55,000 | 520 | ||||||||||||||||
Factoria Mall (7) | Bellevue, WA | 13-May | 37,283 | 56,000 | 37,467 | 130,750 | 510 | ||||||||||||||||
6 Outparcels | Various | 13-Jun | 13,053 | - | - | 13,053 | 97 | ||||||||||||||||
Highlands Ranch II | Highlands Ranch, CO | 13-Jul | 14,600 | - | - | 14,600 | 44 | ||||||||||||||||
Elmsford | Elmsford, NY | 13-Aug | 23,000 | - | - | 23,000 | 143 | ||||||||||||||||
Northridge | Arvada, CO | 13-Oct | 8,239 | 11,511 | - | 19,750 | 146 | ||||||||||||||||
Five Forks Crossing | Liburn, GA | 13-Oct | 9,825 | - | - | 9,825 | 74 | ||||||||||||||||
Greenwood S.C. Outparcel | Greenwood, IN | 13-Oct | 4,067 | - | - | 4,067 | 30 | ||||||||||||||||
Clark Portfolio (4 properties) | Clark, NJ | 13-Nov | 35,553 | - | - | 35,553 | 189 | ||||||||||||||||
Winn Dixie Portfolio (6 properties) | Louisiana & Florida | 13-Dec | 43,506 | - | - | 43,506 | 392 | ||||||||||||||||
Tomball S.C. | Houston, TX | 13-Dec | 35,327 | - | - | 35,327 | 149 | ||||||||||||||||
Atascocita S.C. | Humble, TX | 13-Dec | 38,250 | 28,250 | - | 66,500 | 317 | ||||||||||||||||
Lawrenceville | Lawrenceville, GA | 13-Dec | 36,824 | - | - | 36,824 | 286 | ||||||||||||||||
$ | 367,752 | $ | 279,123 | $ | 77,593 | $ | 724,468 | 4,057 | |||||||||||||||
* Gross leasable area ("GLA") | |||||||||||||||||||||||
(1) This property was acquired from a joint venture in which the Company had a 45% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $22.7 million, before income tax, from the fair value adjustment associated with the Company’s original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||||||||||||||||||||||
(2) This property was acquired from a joint venture in which the Company had a 19% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||||||||||||||||||||||
(3) The Company acquired the remaining 80% interest in an operating property from an unconsolidated joint venture in which the Company had a 20% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $0.5 million from the fair value adjustment associated with the Company’s original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||||||||||||||||||||||
(4) The acquisition of this property included the issuance of $5.2 million of redeemable units, which are redeemable at the option of the holder after one year and earn a yield of 6% per annum, which is included in the purchase price above in Other. In connection with this transaction, the Company provided the sellers a $5.2 million loan at a rate of 6.5%, which is secured by the redeemable units. | |||||||||||||||||||||||
(5) This property was acquired from a joint venture in which the Company has a 15% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||||||||||||||||||||||
(6) The Company acquired the remaining interest in a portfolio of office properties from a preferred equity investment in which the Company held a noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a change in control loss of $9.6 million from the fair value adjustment associated with the Company’s original ownership, which is reflected in the purchase price above in Other. The debt assumed in connection with this transaction of $43.3 million was repaid in April 2013 and the properties within the portfolio were later sold during October and November 2013. | |||||||||||||||||||||||
(7) The Company acquired an additional 49% interest in this operating property from an unconsolidated joint venture in which the Company had a 50% noncontrolling interest. As such the Company now consolidates this investment. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as a result, recognized a gain of $8.2 million from the fair value adjustment associated with the Company’s original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||||||||||||||||||||||
During the year ended December 31, 2012, the Company acquired the following properties, in separate transactions (in thousands): | |||||||||||||||||||||||
Purchase Price | |||||||||||||||||||||||
Property Name | Location | Month Acquired | Cash | Debt Assumed | Total | GLA* | |||||||||||||||||
Woodbridge S.C. | Sugarland, TX | 12-Jan | $ | 9,000 | $ | - | $ | 9,000 | 97 | ||||||||||||||
Bell Camino Center | Sun City, AZ | 12-Jan | 4,185 | 4,210 | 8,395 | 63 | |||||||||||||||||
31 parcels (2) | Various | 12-Jan | 30,753 | - | 30,753 | 83 | |||||||||||||||||
1 parcel (3) | Duncan, SC | 12-Jan | 1,048 | - | 1,048 | 3 | |||||||||||||||||
Olympia West Outparcel | Olympia, WA | 12-Feb | 1,200 | - | 1,200 | 6 | |||||||||||||||||
Frontier Village (1) | Lake Stevens, WA | 12-Mar | 12,231 | 30,900 | 43,131 | 195 | |||||||||||||||||
Silverdale S.C. (1) | Silverdale, WA | 12-Mar | 8,335 | 24,000 | 32,335 | 170 | |||||||||||||||||
30 parcels (2) | Various | 12-Mar | 39,493 | - | 39,493 | 107 | |||||||||||||||||
1 parcel (3) | Peru, IL | 12-Mar | 995 | - | 995 | 4 | |||||||||||||||||
Towson Place (4) | Towson, MD | 12-Apr | 69,375 | 57,625 | 127,000 | 680 | |||||||||||||||||
Prien Lake Outparcel | Lake Charles, LA | 12-May | 1,800 | - | 1,800 | 8 | |||||||||||||||||
Devon Village | Devon, PA | 12-Jun | 28,550 | - | 28,550 | 79 | |||||||||||||||||
4 Properties | Various, NC | 12-Jun | 63,750 | - | 63,750 | 368 | |||||||||||||||||
Lake Jackson (5) | Lake Jackson, TX | 12-Jul | 5,500 | - | 5,500 | 35 | |||||||||||||||||
Woodlawn S.C. | Charlotte, NC | 12-Jul | 7,050 | - | 7,050 | 137 | |||||||||||||||||
Columbia Crossing - 2 Outparcels | Columbia, MD | 12-Jul | 11,060 | - | 11,060 | 69 | |||||||||||||||||
Pompano Beach (6) | Pompano Beach, FL | 12-Jul | 12,180 | - | 12,180 | 81 | |||||||||||||||||
6 Parcels (2) | Various | 12-Jul | 8,111 | - | 8,111 | 19 | |||||||||||||||||
Wilton S.C. | Wilton, CT | 12-Aug | 18,800 | 20,900 | 39,700 | 96 | |||||||||||||||||
Hawthorne Hills S. C. | Vernon Hills, IL | 12-Aug | 15,974 | 21,563 | 37,537 | 193 | |||||||||||||||||
Greeley Shopping Center (7) | Greeley, CO | 12-Oct | 23,250 | - | 23,250 | 139 | |||||||||||||||||
Savi Ranch Center Phase II | Yorba Linda, CA | 12-Oct | 34,500 | - | 34,500 | 161 | |||||||||||||||||
Wild Lake Plaza Outparcel | Columbia, MD | 12-Nov | 300 | - | 300 | 75 | |||||||||||||||||
City Heights Retail Village | San Francisco, CA | 12-Nov | 15,600 | 20,000 | 35,600 | 109 | |||||||||||||||||
Snowden Square (8) | Columbia, MD | 12-Dec | 6,182 | - | 6,182 | 50 | |||||||||||||||||
“Key Food” Portfolio (5 properties) | Various, NY | 12-Dec | 26,058 | - | 26,058 | 59 | |||||||||||||||||
Total | $ | 455,280 | $ | 179,198 | $ | 634,478 | 3,086 | ||||||||||||||||
* Gross leasable area ("GLA") | |||||||||||||||||||||||
(1) These properties were acquired from a joint venture in which the Company has a 15% noncontrolling interest. The Company evaluated these transactions pursuant to the FASB’s Consolidation guidance and as such recognized an aggregate gain of $2.0 million from the fair value adjustment associated with its original ownership due to a change in control. | |||||||||||||||||||||||
(2) Acquired an aggregate of 67 parcels net leased to restaurants through a consolidated joint venture, in which the Company has a 99.1% controlling interest. During July 2012, the Company purchased the remaining 0.9% interest for $0.7 million. | |||||||||||||||||||||||
(3) Acquired an aggregate of two parcels net leased to restaurants through a consolidated joint venture, in which the Company has a 92.0% controlling interest. During July 2012, the Company sold 4% of its interest for $0.1 million. The Company continues to have a controlling interest in the joint venture and therefore continues to consolidate this investment. | |||||||||||||||||||||||
(4) This property was acquired from a joint venture in which the Company had a 30% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $12.1 million from the fair value adjustment associated with its original ownership due to a change in control. In addition, the Company recognized promote income of $1.1 million in connection with this transaction. The promote income is included in Equity in income of joint ventures, net on the Company’s Consolidated Statements of Income. Additionally, the debt assumed in connection with this transaction of $57.6 million was repaid in May 2012. | |||||||||||||||||||||||
(5) The Company acquired this property from a preferred equity investment in which the Company held a noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||||||||||||||||||||||
(6) This property was acquired from a joint venture in which the Company had a 50% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||||||||||||||||||||||
(7) This property was acquired from a joint venture in which the Company has an 11% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $0.4 million from the fair value adjustment associated with its original ownership due to a change in control. | |||||||||||||||||||||||
(8) This property was acquired from a joint venture in which the Company has a 50% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a gain of $1.0 million from the fair value adjustment associated with its original ownership due to a change in control. | |||||||||||||||||||||||
The aggregate purchase price of the above 2013 and 2012 property acquisitions have been allocated as follows (in thousands): | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Land | $ | 198,263 | $ | 196,219 | |||||||||||||||||||
Buildings | 368,478 | 319,955 | |||||||||||||||||||||
Below Market Rents | (25,298 | ) | (40,375 | ) | |||||||||||||||||||
Above Market Rents | 15,758 | 14,977 | |||||||||||||||||||||
In-Place Leases | 35,262 | 31,248 | |||||||||||||||||||||
Building Improvements | 115,110 | 99,092 | |||||||||||||||||||||
Tenant Improvements | 22,196 | 19,327 | |||||||||||||||||||||
Mortgage Fair Value Adjustment | (5,794 | ) | (5,965 | ) | |||||||||||||||||||
Other Assets | 894 | - | |||||||||||||||||||||
Other Liabilities | (401 | ) | - | ||||||||||||||||||||
$ | 724,468 | $ | 634,478 | ||||||||||||||||||||
Additionally, during the years ended December 31, 2013 and 2012, the Company acquired the remaining interest in four and six previously consolidated joint ventures for $9.4 million and $12.0 million, respectively. The Company continues to consolidate these entities as there was no change in control from these transactions. The purchase of the remaining interests resulted in an aggregate decrease in noncontrolling interest of $0.4 million and $10.4 million for the years ended December 31, 2013 and 2012, respectively and an aggregate decrease of $8.2 million and $0.3 million, after income taxes, to the Company’s Paid-in capital, during 2013 and 2012, respectively. | |||||||||||||||||||||||
Ground-Up Development - | |||||||||||||||||||||||
The Company is engaged in ground-up development projects, which will be held as long-term investments by the Company. As of December 31, 2013, the Company had in progress a total of three ground-up development projects, consisting of two located in the U.S. and one located in Peru. | |||||||||||||||||||||||
FNC Realty Corporation – | |||||||||||||||||||||||
During 2012, the Company acquired an additional 13.62% interest in FNC Realty Corporation (“FNC”) for $15.3 million, which increased the Company’s total ownership interest to 82.7%. During 2013, the Company acquired the remaining ownership interest in FNC of 17.3% for $20.3 million. As a result of this transaction the Company now owns 100% of FNC. The Company had previously and continues to consolidate FNC. Since there was no change in control from these transactions, the purchase of the additional interests resulted in a decrease in noncontrolling interest during 2013 and 2012 of $19.7 million and $15.4 million, respectively, and a decrease of $0.7 million during 2013 and an increase of $0.1 million during 2012 to the Company’s Paid-in capital. |
Note_4_Dispositions_of_Real_Es
Note 4 - Dispositions of Real Estate | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | ' |
4. Dispositions of Real Estate: | |
Operating Real Estate – | |
During 2013, the Company disposed of 36 operating properties and three out-parcels in separate transactions, for an aggregate sales price of $279.5 million. These transactions, which are included in Discontinued operations in the Company’s Consolidated Statements of Income, resulted in an aggregate gain of $25.4 million and impairment charges of $61.9 million, before income taxes. | |
Additionally, during 2013, the Company sold eight properties in its Latin American portfolio for an aggregate sales price of $115.4 million. These transactions, which are included in Discontinued operations in the Company’s Consolidated Statements of Income, resulted in an aggregate gain of $23.3 million, before income taxes, and aggregate impairment charges of $26.9 million (including the release of the cumulative foreign currency translation loss of $7.8 million associated with the sale of the Company’s interest in two properties within Brazil, which represents a full liquidation of the Company’s investment in Brazil), before income taxes and noncontrolling interests. | |
During 2012, the Company disposed of 62 operating properties and two outparcels, in separate transactions, for an aggregate sales price of $418.9 million. These transactions, which are included in Discontinued operations in the Company’s Consolidated Statements of Income, resulted in an aggregate pre-tax gain of $85.9 million and aggregate impairment charges of $22.5 million, before income taxes. The Company provided seller financing in connection with the sale of one of the operating properties for $4.2 million, which bore interest at a rate of 6.0% and matured in November 2013. The Company evaluated this transaction pursuant to the FASB’s real estate sales guidance and concluded that the criteria for sale recognition were met. | |
During 2012, the Company sold a previously consolidated operating property to a newly formed unconsolidated joint venture in which the Company has a 20% noncontrolling interest for a sales price of $55.5 million. This transaction resulted in a pre-tax gain of $10.0 million, of which the Company deferred $2.0 million due to its continued involvement. This gain has been recorded as Gain on sale of operating properties, net of tax in the Company’s Consolidated Statements of Income. | |
During 2011, the Company disposed of 27 operating properties, one development property and one outparcel, in separate transactions, for an aggregate sales price of $124.9 million. These transactions, which are included in Discontinued operations in the Company’s Consolidated Statements of Income, resulted in an aggregate gain of $17.3 million and aggregate impairment charges of $16.9 million, before an income tax benefit and noncontrolling interest. The Company provided seller financing aggregating $11.9 million on three of these transactions which bear interest at rates ranging from 5.50% to 8.00% per annum and have maturities ranging from one to seven years. The Company evaluated these transactions pursuant to the FASB’s real estate sales guidance to determine sale and gain recognition. | |
Also, during 2011, a consolidated joint venture in which the Company had a preferred equity investment disposed of a property for a sales price of $6.1 million. As a result of this capital transaction, the Company received $1.4 million of profit participation, before noncontrolling interest of $0.1 million. This profit participation has been recorded as Income from other real estate investments and is reflected in Income from discontinued operating properties in the Company’s Consolidated Statements of Income. | |
During 2011, the Company transferred an operating property for a sales price of $23.9 million to a newly formed unconsolidated joint venture in which the Company has a noncontrolling interest. This transaction resulted in a gain of $0.4 million, of which the Company deferred $0.1 million due to its continued involvement. This gain has been recorded as Gain on sale of operating properties, net of tax in the Company’s Consolidated Statements of Income. | |
Land Sales – | |
During 2013, the Company sold nine land parcels for an aggregate sales price of $18.2 million in separate transactions. These transactions resulted in an aggregate gain of $11.5 million, before income taxes expense and noncontrolling interest. The gains from these transactions are recorded as other income, which is included in Other expense, net, in the Company’s Consolidated Statements of Income. | |
During 2012, the Company disposed of two land parcels and two outparcels for an aggregate sales price of $4.1 million and recognized an aggregate gain of $2.0 million related to these transactions. These gains are recorded as other income, which is included in Other expense, net, in the Company’s Consolidated Statements of Income. The Company provided seller financing in connection with the sale of one of the land parcels for $1.8 million, which bore interest at a rate of 6.5% for the first six months and 7.5% for the remaining term and matured in March 2013. The Company evaluated this transaction pursuant to the FASB’s real estate sales guidance and concluded that the criteria for sale recognition were met. | |
Also, during 2012, the Company sold a land parcel in San Juan del Rio, Mexico for a sales price of 24.3 million Mexican Pesos (“MXN”) (USD $1.9 million). The Company recognized a gain of MXN 5.7 million (USD $0.4 million) on this transaction. The gain from this transaction is recorded as other income, which is included in Other expense, net, in the Company’s Consolidated Statements of Income. | |
Ground-up Development – | |
During 2011, the Company transferred a merchant building property for a sales price of $37.6 million to a newly formed unconsolidated joint venture in which the Company has a noncontrolling interest. This transaction resulted in an aggregate gain of $14.2 million, before income tax expense, of which the Company deferred $2.1 million due to its continued involvement. |
Note_5_Discontinued_Operations
Note 5 - Discontinued Operations and Assets Held-for-Sale | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | ||||||||||||
5. Discontinued Operations and Assets Held-for-Sale: | |||||||||||||
The Company reports as discontinued operations assets held-for-sale as of the end of the current period and assets sold during the period. All results of these discontinued operations are included in a separate component of income on the Consolidated Statements of Income under the caption Discontinued operations. This has resulted in certain reclassifications of 2013, 2012 and 2011 financial statement amounts. | |||||||||||||
The components of Income from discontinued operations for each of the three years in the period ended December 31, 2013, are shown below. These include the results of Income through the date of each respective sale for properties sold during 2013, 2012 and 2011, and the operations for the applicable periods for those assets classified as held-for-sale as of December 31, 2013 (in thousands): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discontinued operations: | |||||||||||||
Revenues from rental property | $ | 44,168 | $ | 76,442 | $ | 113,508 | |||||||
Rental property expenses | (14,861 | ) | (26,203 | ) | (40,054 | ) | |||||||
Depreciation and amortization | (10,318 | ) | (25,820 | ) | (32,878 | ) | |||||||
Provision for doubtful accounts | (847 | ) | (2,243 | ) | (2,904 | ) | |||||||
Interest income/(expense) | 300 | (2,882 | ) | (3,672 | ) | ||||||||
Income from other real estate investments | - | 13 | 1,703 | ||||||||||
Other expense, net | (449 | ) | (922 | ) | (351 | ) | |||||||
Income from discontinued operating properties, before income taxes | 17,993 | 18,385 | 35,352 | ||||||||||
Impairment of property carrying value, before income taxes | (98,815 | ) | (49,280 | ) | (19,698 | ) | |||||||
Gain on disposition of operating properties, before income taxes | 48,731 | 85,894 | 17,327 | ||||||||||
Benefit for income taxes | 10,329 | 10,904 | 7,585 | ||||||||||
(Loss)/income from discontinued operating properties | (21,762 | ) | 65,903 | 40,566 | |||||||||
Net loss/(income) attributable to noncontrolling interests | 8,301 | (3,133 | ) | (2,799 | ) | ||||||||
(Loss)/income from discontinued operations attributable to the Company | $ | (13,461 | ) | $ | 62,770 | $ | 37,767 | ||||||
During 2013, the Company classified as held-for-sale 19 operating properties, comprising 1.9 million square feet of GLA. The aggregate book value of these properties was $178.4 million, net of accumulated depreciation of $19.2 million. The Company recognized impairment charges of $25.2 million, after income taxes, on eight of these properties. The book value of the other properties did not exceed their estimated fair value, less costs to sell, and as such no impairment charges were recognized. The Company’s determination of the fair value of these properties, aggregating $158.6 million, was based upon executed contracts of sale with third parties (see Footnote 15). In addition, the Company completed the sale of 15 held-for-sale operating properties during the year ended December 31, 2013, one of which was classified as held-for-sale during 2012 (these dispositions are included in Footnote 4 above). At December 31, 2013, the Company had five remaining operating properties classified as held-for-sale at a carrying amount of $70.3 million, net of accumulated depreciation of $8.1 million, which are included in Other assets on the Company’s Consolidated Balance Sheets. | |||||||||||||
During 2012, the Company classified as held-for-sale 18 operating properties, comprising 2.1 million square feet of GLA. The book value of these properties was $73.2 million, net of accumulated depreciation of $57.2 million. The Company recognized impairment charges of $4.2 million on three of these properties. The book value of the other properties did not exceed their estimated fair value, less costs to sell, and as such no impairment charges were recognized. The Company’s determination of the fair value of these properties, aggregating $102.0 million, was based upon executed contracts of sale with third parties (see Footnote 15). In addition, the Company completed the sale of 19 operating properties during the year ended December 31, 2012, of which two were classified as held-for-sale during 2011 (these dispositions are included in Footnote 4 above). At December 31, 2012, the Company had one operating property classified as held-for-sale at a carrying amount of $3.4 million, net of accumulated depreciation of $6.8 million, which is included in Other assets on the Company’s Consolidated Balance Sheets. | |||||||||||||
During 2011, the Company classified as held-for-sale seven operating properties comprising 0.2 million square feet of GLA. The book value of each of these properties aggregated $10.0 million, net of accumulated depreciation of $7.3 million. The individual book values of the seven operating properties did not exceed each of their estimated fair values less costs to sell; as such no impairments were recognized. The Company’s determination of the fair value of these properties and land parcel, aggregating $19.7 million, was based upon executed contracts of sale with third parties. The Company completed the sale of five of these operating properties during the year ended December 31, 2011 (these dispositions are included in Footnote 4 above). |
Note_6_Impairments
Note 6 - Impairments | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||
Asset Impairment Charges [Text Block] | ' | ||||||||||||
6. Impairments: | |||||||||||||
Management assesses on a continuous basis whether there are any indicators, including property operating performance and general market conditions, that the value of the Company’s assets (including any related amortizable intangible assets or liabilities) may be impaired. To the extent impairment has occurred, the carrying value of the asset would be adjusted to an amount to reflect the estimated fair value of the asset. | |||||||||||||
The Company’s efforts to market certain assets and management’s assessment as to the likelihood and timing of such potential transactions and/or the property hold period caused the Company to recognize impairment charges for the years ended December 31, 2013, 2012 and 2011 as follows (in millions): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Impairment of property carrying values * (1)(2)(5)(6) | $ | 76.7 | $ | 7.6 | $ | 3.1 | |||||||
Investments in other real estate investments* (3)(7)(8) | 2.9 | 2.7 | 3.3 | ||||||||||
Marketable securities and other investments* (4) | 10.7 | - | 1.6 | ||||||||||
Investments in real estate joint ventures* (9) | 1.1 | - | 5.1 | ||||||||||
Total Impairment charges included in operating expenses | 91.4 | 10.3 | 13.1 | ||||||||||
Impairment of property carrying values included in discontinued operations ** | 98.8 | 49.3 | 19.7 | ||||||||||
Total gross impairment charges | 190.2 | 59.6 | 32.8 | ||||||||||
Noncontrolling interests | (10.6 | ) | (0.4 | ) | 0.7 | ||||||||
Income tax benefit | (22.4 | ) | (10.6 | ) | (4.5 | ) | |||||||
Total net impairment charges | $ | 157.2 | $ | 48.6 | $ | 29 | |||||||
* See Footnote 15 for additional disclosure on fair value. | |||||||||||||
**See Footnotes 4 & 5 above for additional disclosure. | |||||||||||||
(1) During 2013, the Company was in advanced negotiations to sell several operating properties within its Mexico portfolio. Based upon the allocation of the estimated selling prices, the Company determined that the estimated fair values of certain of the properties were below their respective current carrying value. As such, the Company recorded impairment charges of $58.2 million relating to these assets. This amount is subject to change based upon finalization of contract terms, closing costs, additional cash amounts received as earn outs and fluctuations in the Mexican Peso exchange rate (see Footnote 22). | |||||||||||||
(2) During 2013, the Company recorded $18.5 million, before an income tax benefit of $6.4 million and noncontrolling interests of $1.0 million, in impairment charges primarily related to two land parcels and four operating properties based upon purchase prices or purchase price offers. | |||||||||||||
(3) Based upon a review of the debt maturity status and the likelihood of foreclosure of the underlying property within one of the Company’s preferred equity investments, the Company believes it will not recover its investment and as such recorded a full impairment of $2.6 million, before an income tax benefit of $1.1 million, on its investment during 2013. | |||||||||||||
(4) During 2013, the Company reviewed the underlying cause of the decline in value of a cost method investment, as well as the severity and the duration of the decline and determined that the decline was other-than-temporary. Impairment charges were recognized based upon the calculation of an estimated fair value of $4.7 million using a discounted cash flow model. | |||||||||||||
(5) During 2012, the Company recognized an aggregate impairment charge of $7.6 million, before income tax benefit of $2.9 million, relating to its investment in four land parcels. The estimated aggregate fair value of these properties was based upon purchase price offers. | |||||||||||||
(6) During 2011, the Company recognized an aggregate impairment charge of $3.1 million, before income tax benefit of $1.1 million, relating to a portion of an operating property and four land parcels. The estimated aggregate fair value of these properties was based upon purchase price offers. | |||||||||||||
(7) Based upon a review of the debt maturity status and the likelihood of foreclosure of the underlying property within one of the Company’s preferred equity net leased investment, the Company believed it would not recover its investment and as such recorded a full impairment of $2.7 million on its investment during 2012. | |||||||||||||
(8) During 2011, two properties within two of the Company’s preferred equity investments were in default of their respective mortgages and received foreclosure notices from the respective mortgage lenders. As such, the Company recognized full impairment charges on both of the investments aggregating $2.2 million. | |||||||||||||
(9) During 2011, the Company exited its investment in a redevelopment joint venture property in Harlem, NY. As a result, the Company recognized an-other-than-temporary impairment charge of approximately $3.1 million representing the Company’s entire investment balance. Additionally, during 2011, the Company recorded an other-than-temporary impairment of $2.0 million, before income tax benefit, against the carrying value of an investment in which the Company held a 13.4% noncontrolling ownership interest. The Company determined the fair value of its investment based on the estimated sales price of the property in the joint venture. | |||||||||||||
In addition to the impairment charges above, the Company recognized pretax impairment charges during 2013, 2012 and 2011 of $29.5 million, $11.1 million, and $14.1 million, respectively, relating to certain properties held by various unconsolidated joint ventures in which the Company holds noncontrolling interests. These impairment charges are included in Equity in income of joint ventures, net in the Company’s Consolidated Statements of Income (see Footnote 7). | |||||||||||||
The Company will continue to assess the value of its assets on an on-going basis. Based on these assessments, the Company may determine that one or more of its assets may be impaired due to a decline in value and would therefore write-down its cost basis accordingly. |
Note_7_Investment_and_Advances
Note 7 - Investment and Advances in Real Estate Joint Ventures | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Investments And Advances In Real Estate Joint Ventures [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Investments And Advances In Real Estate Joint Ventures [Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
7. Investment and Advances in Real Estate Joint Ventures: | |||||||||||||||||||||||||||||||||||||||||
The Company and its subsidiaries have investments in and advances to various real estate joint ventures. These joint ventures are engaged primarily in the operation of shopping centers which are either owned or held under long-term operating leases. The Company and the joint venture partners have joint approval rights for major decisions, including those regarding property operations. As such, the Company holds noncontrolling interests in these joint ventures and accounts for them under the equity method of accounting. The table below presents joint venture investments for which the Company held an ownership interest at December 31, 2013 and 2012 (in millions, except number of properties): | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Venture | Average | Number of | GLA | Gross | The | Average | Number | GLA | Gross | The | |||||||||||||||||||||||||||||||
Ownership Interest | Properties | Real | Company's | Ownership Interest | of | Real | Company's | ||||||||||||||||||||||||||||||||||
Estate | Investment | Properties | Estate | Investment | |||||||||||||||||||||||||||||||||||||
Prudential Investment Program (“KimPru” and “KimPru II”) (1) (2) (11) | 15.00% | 60 | 10.6 | $ | 2,724.00 | $ | 179.7 | 15.00% | 61 | 10.7 | $ | 2,744.90 | $ | 170.1 | |||||||||||||||||||||||||||
Kimco Income Opportunity Portfolio (“KIR”) (2) (7) (15) | 48.60% | 57 | 12 | 1,496.00 | 163.6 | 45.00% | 58 | 12.4 | 1,543.20 | 140.3 | |||||||||||||||||||||||||||||||
UBS Programs (“UBS”) (2) (8) (14)* | - | - | - | - | 1.1 | 17.90% | 40 | 5.7 | 1,260.10 | 58.4 | |||||||||||||||||||||||||||||||
Kimstone (2) (14) | 33.30% | 39 | 5.6 | 1,095.30 | 100.3 | - | - | - | - | - | |||||||||||||||||||||||||||||||
BIG Shopping Centers (2) (10)* | 37.90% | 21 | 3.4 | 520.1 | 29.5 | 37.70% | 22 | 3.6 | 547.7 | 31.3 | |||||||||||||||||||||||||||||||
The Canada Pension Plan Investment Board | 55.00% | 6 | 2.4 | 437.4 | 144.8 | 55.00% | 6 | 2.4 | 436.1 | 149.5 | |||||||||||||||||||||||||||||||
(“CPP”) (2) | |||||||||||||||||||||||||||||||||||||||||
Kimco Income Fund (2)(6) | 39.50% | 12 | 1.5 | 288.7 | 50.6 | 15.20% | 12 | 1.5 | 287 | 12.3 | |||||||||||||||||||||||||||||||
SEB Immobilien (2) | 15.00% | 13 | 1.8 | 361.9 | 0.9 | 15.00% | 13 | 1.8 | 361.2 | 1.5 | |||||||||||||||||||||||||||||||
Other Institutional Programs (2) (9) | Various | 56 | 2.1 | 385.3 | 16.8 | Various | 58 | 2.6 | 499.2 | 21.3 | |||||||||||||||||||||||||||||||
RioCan | 50.00% | 45 | 9.3 | 1,314.30 | 156.3 | 50.00% | 45 | 9.3 | 1,379.30 | 111 | |||||||||||||||||||||||||||||||
Intown (3) | - | - | - | - | - | - | 138 | N/A | 841 | 86.9 | |||||||||||||||||||||||||||||||
Latin America (13) (16) | Various | 28 | 3.7 | 313.2 | 156.7 | Various | 131 | 18 | 1,198.10 | 334.2 | |||||||||||||||||||||||||||||||
Other Joint Venture Programs (4) (5) (12) | Various | 75 | 11.5 | 1,548.90 | 256.7 | Various | 87 | 13.2 | 1,846.70 | 311.4 | |||||||||||||||||||||||||||||||
Total | 412 | 63.9 | $ | 10,485.10 | $ | 1,257.00 | 671 | 81.2 | $ | 12,944.50 | $ | 1,428.20 | |||||||||||||||||||||||||||||
* Ownership % is a blended rate | |||||||||||||||||||||||||||||||||||||||||
The table below presents the Company’s share of net income/(loss) for these investments which is included in the Company’s Consolidated Statements of Income under Equity in income of joint ventures, net for the years ended December 31, 2013, 2012 and 2011 (in millions): | |||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
KimPru and KimPru II (11) (21) (22) (23) | $ | 9.1 | $ | 7.4 | $ | (1.6 | ) | ||||||||||||||||||||||||||||||||||
KIR (15) (24) | 25.3 | 23.4 | 17.3 | ||||||||||||||||||||||||||||||||||||||
UBS Programs (14) (25) | 1.8 | 0.5 | (0.8 | ) | |||||||||||||||||||||||||||||||||||||
Kimstone (14) | 3.6 | - | - | ||||||||||||||||||||||||||||||||||||||
BIG Shopping Centers (10) (26) | 3 | (3.7 | ) | (2.9 | ) | ||||||||||||||||||||||||||||||||||||
CPP | 5.8 | 5.3 | 5.2 | ||||||||||||||||||||||||||||||||||||||
Kimco Income Fund | 3.3 | 1.7 | 1 | ||||||||||||||||||||||||||||||||||||||
SEB Immobilien | 1.1 | 0.7 | - | ||||||||||||||||||||||||||||||||||||||
Other Institutional Programs (19) (27) | 1.4 | 5 | 5 | ||||||||||||||||||||||||||||||||||||||
RioCan (20) | 27.6 | 30.4 | 19.7 | ||||||||||||||||||||||||||||||||||||||
Intown | 1.4 | 4 | (1.9 | ) | |||||||||||||||||||||||||||||||||||||
Latin America (13) (16) (17) | 103.1 | 15.8 | 12.5 | ||||||||||||||||||||||||||||||||||||||
Other Joint Venture Programs (12) (18) (28) (29) | 22.2 | 22.4 | 10 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 208.7 | $ | 112.9 | $ | 63.5 | |||||||||||||||||||||||||||||||||||
-1 | This venture represents four separate joint ventures, with four separate accounts managed by Prudential Real Estate Investors (“PREI”), three of these ventures are collectively referred to as KimPru and the remaining venture is referred to as KimPru II. | ||||||||||||||||||||||||||||||||||||||||
-2 | The Company manages these joint venture investments and, where applicable, earns acquisition fees, leasing commissions, property management fees, asset management fees and construction management fees. | ||||||||||||||||||||||||||||||||||||||||
-3 | The Company’s share of this investment was subject to fluctuation and dependent upon property cash flows. During June 2013, the Intown portfolio was sold for a sales price of $735.0 million which included the assignment of $609.2 million in debt. This transaction resulted in a deferred gain to the Company of $21.7 million. The Company maintains its guarantee on a portion of the debt ($139.7 million as of December 31, 2013) assumed by the buyer. The guarantee is collateralized by the buyer’s ownership interest in the portfolio. The Company is entitled to a guarantee fee, for the initial term of the loan, which is scheduled to mature in December 2015. The guarantee fee is calculated based upon the difference between LIBOR plus 1.15% and 5.0% per annum multiplied by the outstanding amount of the loan. Additionally, the Company has entered into a commitment to provide financing up to the outstanding amount of the guaranteed portion of the loan for five years past the date of maturity. This commitment can be in the form of extensions with the current lender, loans from a new lender or financing directly from the Company to the buyer. Due to this continued involvement, the Company deferred its gain until such time that the guarantee and commitment expire. | ||||||||||||||||||||||||||||||||||||||||
-4 | During the year ended December 31, 2013, the Company amended one of its Canadian preferred equity investment agreements to restructure the investment as a pari passu joint venture in which the Company holds a noncontrolling interest. As a result of this transaction, the Company continues to account for its investment in this joint venture under the equity method of accounting and includes this investment in Investments and advances to real estate joint ventures within the Company’s Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||||
-5 | During the year ended December 31, 2013, two joint ventures in which the Company held noncontrolling interests sold two operating properties to the Company, in separate transactions, for an aggregate sales price of $228.8 million. The Company evaluated these transactions pursuant to the FASB’s Consolidation guidance. As such, the Company recognized an aggregate gain of $30.9 million, before income tax, from the fair value adjustment associated with its original ownership due to a change in control and now consolidates these operating properties. | ||||||||||||||||||||||||||||||||||||||||
-6 | During the year ended December 31, 2013, the Company purchased an additional 24.24% interest in Kimco Income Fund for $38.3 million. | ||||||||||||||||||||||||||||||||||||||||
-7 | During the year ended December 31, 2013, the Company purchased an additional 3.57% interest in KIR for $48.4 million. | ||||||||||||||||||||||||||||||||||||||||
-8 | During the year ended December 31, 2013, UBS sold an operating property to the Company for a sales price of $32.7 million, which was equal to the remaining debt balance. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. As such the Company recognized no gain or loss from a change in control and now consolidates this operating property. | ||||||||||||||||||||||||||||||||||||||||
-9 | During the year ended December 31, 2013, a joint venture in which the Company held a noncontrolling interest sold an operating property to the Company for a sales price of $14.2 million. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance. As such the Company recognized a gain of $0.5 million from the fair value adjustment associated with the Company’s original ownership due to a change in control and now consolidates this operating property. | ||||||||||||||||||||||||||||||||||||||||
-10 | During the year ended December 31, 2013, BIG recognized a gain on early extinguishment of debt of $13.7 million related to a property that was foreclosed on by a third party lender. The Company’s share of this gain was $2.4 million. | ||||||||||||||||||||||||||||||||||||||||
-11 | During the year ended December 31, 2013, the Company purchased the remaining interest in an operating property for a purchase price of $15.8 million. As a result of this transaction, KimPru recognized an impairment charge of $4.0 million, of which the Company’s share was $0.6 million. | ||||||||||||||||||||||||||||||||||||||||
-12 | During the year ended December 31, 2013, joint ventures in which the Company has noncontrolling interests sold six operating properties, in separate transactions, for an aggregate sales price of $132.1 million. In connection with these transactions, the Company recognized its share of the aggregate gains of $6.1 million and aggregate impairment charges of $1.5 million. | ||||||||||||||||||||||||||||||||||||||||
-13 | During the year ended December 31, 2013, joint ventures in which the Company held noncontrolling interests sold 20 operating properties located throughout Mexico and Chile for $341.9 million. These transactions resulted in an aggregate net gain to the Company of $22.9 million, after tax, which represents the Company's share. | ||||||||||||||||||||||||||||||||||||||||
-14 | During June 2013, the Company increased its ownership interest in the UBS Programs to 33.3% and simultaneously UBS transferred its remaining 66.7% ownership interest in the UBS Programs to affiliates of Blackstone Real Estate Partners VII (“Blackstone”). Both of these transactions were based on a gross purchase price of $1.1 billion. Upon completion of these transactions, Blackstone and the Company entered into a new joint venture (Kimstone) in which the Company owns a 33.3% noncontrolling interest. | ||||||||||||||||||||||||||||||||||||||||
-15 | During the year ended December 31, 2013, KIR sold an operating property in Cincinnati, OH for a sales price of $30.0 million and recognized a gain of $6.1 million. The Company’s share of this gain was $3.0 million. | ||||||||||||||||||||||||||||||||||||||||
-16 | During the year ended December 31, 2013, the Company and its joint venture partner sold their noncontrolling ownership interest in a joint venture which held interests in 84 operating properties located throughout Mexico for $603.5 million (including debt of $301.2 million). The Company's share of the net gain of $78.2 million, before income taxes of $25.1 million. | ||||||||||||||||||||||||||||||||||||||||
-17 | The Company is currently in advanced negotiations to sell 10 operating properties located throughout Mexico, which are held in unconsolidated joint ventures in which the Company holds noncontrolling interests. Based upon the allocation of the selling price, the Company has recorded its share of impairment charges of $9.4 million on six of these properties. | ||||||||||||||||||||||||||||||||||||||||
-18 | During the year ended December 31, 2012, two joint ventures in which the Company holds noncontrolling interests sold two properties, in separate transactions, for an aggregate sales price of $118.0 million. The Company’s share of the aggregate gain related to these transactions was $8.3 million. | ||||||||||||||||||||||||||||||||||||||||
-19 | During the year ended December 31, 2012, a joint venture in which the Company holds a noncontrolling interest sold two encumbered operating properties to the Company for an aggregate sales price of $75.5 million. As a result of this transaction, the Company recognized promote income of $2.6 million. Additionally, another joint venture in which the Company holds a noncontrolling interest sold an operating property to the Company for a sales price of $127.0 million. As a result of this transaction, the Company recognized promote income of $1.1 million. | ||||||||||||||||||||||||||||||||||||||||
-20 | During the year ended December 31, 2012, the Company recognized income of $7.5 million, before taxes of $1.5 million, from the sale of certain air rights at one of the properties in the RioCan portfolio. | ||||||||||||||||||||||||||||||||||||||||
-21 | KimPru recognized impairment charges of $6.5 million related to the sale of two properties and $53.6 million related to the potential foreclosure of two properties during the years ended December 31, 2012 and 2011, respectively. The Company had previously taken other-than-temporary impairment charges on its investment in KimPru and had allocated these impairment charges to the underlying assets of the KimPru joint ventures including a portion to these operating properties. As such, the Company’s share of these impairment charges for the years ended December 31, 2012 and 2011 were $0.8 million and $6.0 million, respectively. | ||||||||||||||||||||||||||||||||||||||||
-22 | During 2011, a third party mortgage lender foreclosed on an operating property for which KimPru had previously taken an impairment charge during 2010. As a result of the foreclosure during 2011, KimPru recognized an aggregate gain on early extinguishment of debt of $29.6 million. The Company’s share of this gain was $4.4 million, before income taxes. | ||||||||||||||||||||||||||||||||||||||||
-23 | KimPru II recognized impairment charges of $7.3 million for the year ended December 31, 2011, related to the foreclosure of one operating property. The Company had previously taken other-than-temporary impairment charges on its investment in KimPru II and had allocated these impairment charges to the underlying assets of the KimPru II joint ventures including a portion to this operating property. As such, the Company’s share of this impairment charge for the year ended December 31, 2011 was $1.0 million. | ||||||||||||||||||||||||||||||||||||||||
-24 | KIR recognized an impairment charge of $4.6 million related to the sale of one operating property for the year ended December 31, 2011. The Company’s share of this impairment charge was $2.1 million for the year ended December 31, 2011. | ||||||||||||||||||||||||||||||||||||||||
-25 | The UBS Program recognized impairment charges of $13.0 million related to the sale of two properties and $9.7 million related to the sale of one property, during the years ended December 31, 2012 and 2011, respectively. The Company’s share of these impairment charges for the years ended December 31, 2012 and 2011 were $2.2 million and $1.9 million, respectively. Additionally, during the year ended December 31, 2011, the UBS Program recognized an impairment charge of $5.0 million relating to a property that was anticipated to be foreclosed on by the third party lender in 2012. The Company’s share of this impairment charge was $0.8 million. A deed in lieu of foreclosure was given to the third party lender in 2012. | ||||||||||||||||||||||||||||||||||||||||
-26 | During the year ended December 31, 2012, BIG recognized an impairment charge of $9.0 million on a property that was foreclosed upon in 2013. The Company’s share of this impairment charge was $0.9 million. | ||||||||||||||||||||||||||||||||||||||||
-27 | During the year ended December 31, 2012, two joint ventures in which the Company has a noncontrolling interest recognized aggregate impairment charges of $6.5 million related to the sale of four operating properties. The Company’s share of these impairment charges was $0.8 million. | ||||||||||||||||||||||||||||||||||||||||
-28 | During the year ended December 31, 2012, three joint ventures in which the Company has noncontrolling interests recognized aggregate impairment charges of $12.8 million related to the sale of one operating property, the pending sale of one property and the potential foreclosure of another property. The Company’s share of these impairment charges was $6.4 million. | ||||||||||||||||||||||||||||||||||||||||
-29 | During the year ended December 31, 2011, the Company sold its interest in a Canadian hotel portfolio to its partner, for Canadian Dollars (“CAD”) $2.5 million (USD $2.4 million). As a result, the Company recorded its share of an impairment charge of USD $5.2 million, before income taxes. | ||||||||||||||||||||||||||||||||||||||||
The table below presents debt balances within the Company’s joint venture investments for which the Company held noncontrolling ownership interests at December 31, 2013 and 2012 (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Venture | Mortgages | Average | Average | Mortgages | Average | Average | |||||||||||||||||||||||||||||||||||
and | Interest Rate | Remaining | and | Interest Rate | Remaining | ||||||||||||||||||||||||||||||||||||
Notes | Term | Notes | Term | ||||||||||||||||||||||||||||||||||||||
Payable | (months)** | Payable | (months)** | ||||||||||||||||||||||||||||||||||||||
KimPru and KimPru II | $ | 923.4 | 5.53% | 35 | $ | 1,010.20 | 5.54% | 44.5 | |||||||||||||||||||||||||||||||||
KIR | 889.1 | 5.05% | 75.1 | 914.6 | 5.22% | 78.6 | |||||||||||||||||||||||||||||||||||
UBS Programs | - | - | - | 691.9 | 5.40% | 39.1 | |||||||||||||||||||||||||||||||||||
Kimstone | 749.9 | 4.62% | 39.3 | - | - | - | |||||||||||||||||||||||||||||||||||
BIG Shopping Centers | 406.5 | 5.39% | 40.1 | 443.8 | 5.52% | 45.5 | |||||||||||||||||||||||||||||||||||
CPP | 138.6 | 5.23% | 19 | 141.5 | 5.19% | 31 | |||||||||||||||||||||||||||||||||||
Kimco Income Fund | 158 | 5.45% | 8.7 | 161.4 | 5.45% | 20.7 | |||||||||||||||||||||||||||||||||||
SEB Immobilien | 243.8 | 5.11% | 43.3 | 243.8 | 5.11% | 55.3 | |||||||||||||||||||||||||||||||||||
RioCan | 743.7 | 4.59% | 48 | 923.2 | 5.16% | 41.2 | |||||||||||||||||||||||||||||||||||
Intown | - | - | - | 614.4 | 4.46% | 46.1 | |||||||||||||||||||||||||||||||||||
Other Institutional Programs | 272.9 | 5.32% | 31 | 310.5 | 5.24% | 39 | |||||||||||||||||||||||||||||||||||
Other Joint Venture Programs | 1,063.10 | 5.53% | 60.6 | 1,612.20 | 5.70% | 57.8 | |||||||||||||||||||||||||||||||||||
Total | $ | 5,589.00 | $ | 7,067.50 | |||||||||||||||||||||||||||||||||||||
** Average remaining term includes extensions | |||||||||||||||||||||||||||||||||||||||||
KIR - | |||||||||||||||||||||||||||||||||||||||||
The Company holds a 48.6% noncontrolling limited partnership interest in KIR and has a master management agreement whereby the Company performs services for fees relating to the management, operation, supervision and maintenance of the joint venture properties. | |||||||||||||||||||||||||||||||||||||||||
The Company’s equity in income from KIR for the year ended December 31, 2013 and 2012, exceeded 10% of the Company’s income from continuing operations before income taxes; as such the Company is providing summarized financial information for KIR as follows (in millions): | |||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||
Real estate, net | $ | 1,064.20 | $ | 1,134.20 | |||||||||||||||||||||||||||||||||||||
Other assets | 81.9 | 87.7 | |||||||||||||||||||||||||||||||||||||||
$ | 1,146.10 | $ | 1,221.90 | ||||||||||||||||||||||||||||||||||||||
Liabilities and Members’ Capital: | |||||||||||||||||||||||||||||||||||||||||
Mortgages payable | $ | 889.1 | $ | 914.6 | |||||||||||||||||||||||||||||||||||||
Other liabilities | 21.8 | 26.8 | |||||||||||||||||||||||||||||||||||||||
Members’ capital | 235.2 | 280.5 | |||||||||||||||||||||||||||||||||||||||
$ | 1,146.10 | $ | 1,221.90 | ||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Revenues from rental property | $ | 198.2 | $ | 191.8 | $ | 190 | |||||||||||||||||||||||||||||||||||
Operating expenses | (54.2 | ) | (51.3 | ) | (52.5 | ) | |||||||||||||||||||||||||||||||||||
Interest expense | (47.8 | ) | (54.0 | ) | (58.8 | ) | |||||||||||||||||||||||||||||||||||
Depreciation and amortization | (39.1 | ) | (39.2 | ) | (36.8 | ) | |||||||||||||||||||||||||||||||||||
Impairment charges | - | - | (0.3 | ) | |||||||||||||||||||||||||||||||||||||
Other expense, net | (0.6 | ) | (1.3 | ) | (2.6 | ) | |||||||||||||||||||||||||||||||||||
(141.7 | ) | (145.8 | ) | (151.0 | ) | ||||||||||||||||||||||||||||||||||||
Income from continuing operations | 56.5 | 46 | 39 | ||||||||||||||||||||||||||||||||||||||
Discontinued Operations: | |||||||||||||||||||||||||||||||||||||||||
Income from discontinued operations | 1.5 | 2.3 | (0.1 | ) | |||||||||||||||||||||||||||||||||||||
Impairment on dispositions of properties | (9.8 | ) | (0.1 | ) | (4.8 | ) | |||||||||||||||||||||||||||||||||||
Gain on dispositions of properties | 6.1 | - | - | ||||||||||||||||||||||||||||||||||||||
Net income | $ | 54.3 | $ | 48.2 | $ | 34.1 | |||||||||||||||||||||||||||||||||||
RioCan Investments - | |||||||||||||||||||||||||||||||||||||||||
During October 2001, the Company formed three joint ventures (collectively, the "RioCan Ventures") with RioCan Real Estate Investment Trust ("RioCan"), in which the Company has 50% noncontrolling interests, to acquire retail properties and development projects in Canada. The acquisition and development projects are to be sourced and managed by RioCan and are subject to review and approval by a joint oversight committee consisting of RioCan management and the Company’s management personnel. Capital contributions will only be required as suitable opportunities arise and are agreed to by the Company and RioCan. | |||||||||||||||||||||||||||||||||||||||||
The Company’s equity in income from the Riocan Ventures for the year ended December 31, 2012, exceeded 10% of the Company’s income from continuing operations, as such the Company is providing summarized financial information for the RioCan Ventures as follows (in millions): | |||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||
Real estate, net | $ | 1,106.20 | $ | 1,189.90 | |||||||||||||||||||||||||||||||||||||
Other assets | 43.8 | 43.7 | |||||||||||||||||||||||||||||||||||||||
$ | 1,150.00 | $ | 1,233.60 | ||||||||||||||||||||||||||||||||||||||
Liabilities and Members' Capital: | |||||||||||||||||||||||||||||||||||||||||
Mortgages payable | $ | 743.7 | $ | 923.2 | |||||||||||||||||||||||||||||||||||||
Other liabilities | 13 | 18.1 | |||||||||||||||||||||||||||||||||||||||
Members' capital | 393.3 | 292.3 | |||||||||||||||||||||||||||||||||||||||
$ | 1,150.00 | $ | 1,233.60 | ||||||||||||||||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Revenues from rental properties | $ | 209.9 | $ | 213.3 | $ | 209.2 | |||||||||||||||||||||||||||||||||||
Operating expenses | (76.9 | ) | (78.1 | ) | (73.0 | ) | |||||||||||||||||||||||||||||||||||
Interest expense | (40.1 | ) | (51.9 | ) | (57.5 | ) | |||||||||||||||||||||||||||||||||||
Depreciation and amortization | (36.0 | ) | (37.3 | ) | (36.8 | ) | |||||||||||||||||||||||||||||||||||
Other (expense)/income, net | (1.8 | ) | 14.7 | (0.2 | ) | ||||||||||||||||||||||||||||||||||||
(154.8 | ) | (152.6 | ) | (167.5 | ) | ||||||||||||||||||||||||||||||||||||
Net income | $ | 55.1 | $ | 60.7 | $ | 41.7 | |||||||||||||||||||||||||||||||||||
Summarized financial information for the Company’s investment and advances in real estate joint ventures (excluding KIR and the RioCan Ventures, which are presented above) is as follows (in millions): | |||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||
Real estate, net | $ | 6,601.80 | $ | 8,523.30 | |||||||||||||||||||||||||||||||||||||
Other assets | 390.1 | 507.7 | |||||||||||||||||||||||||||||||||||||||
$ | 6,991.90 | $ | 9,031.00 | ||||||||||||||||||||||||||||||||||||||
Liabilities and Partners’/Members’ Capital: | |||||||||||||||||||||||||||||||||||||||||
Notes payable | $ | - | $ | 148 | |||||||||||||||||||||||||||||||||||||
Mortgages payable | 3,956.20 | 5,056.50 | |||||||||||||||||||||||||||||||||||||||
Construction loans | - | 25.1 | |||||||||||||||||||||||||||||||||||||||
Other liabilities | 102 | 188.5 | |||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | 19.2 | 19.1 | |||||||||||||||||||||||||||||||||||||||
Partners’/Members’ capital | 2,914.50 | 3,593.80 | |||||||||||||||||||||||||||||||||||||||
$ | 6,991.90 | $ | 9,031.00 | ||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Revenues from rental property | $ | 935.1 | $ | 1,066.80 | $ | 1,109.30 | |||||||||||||||||||||||||||||||||||
Operating expenses | (297.6 | ) | (348.1 | ) | (388.8 | ) | |||||||||||||||||||||||||||||||||||
Interest expense | (253.6 | ) | (306.9 | ) | (329.4 | ) | |||||||||||||||||||||||||||||||||||
Depreciation and amortization | (242.0 | ) | (277.6 | ) | (322.6 | ) | |||||||||||||||||||||||||||||||||||
Impairment charges | (32.3 | ) | (25.9 | ) | (13.5 | ) | |||||||||||||||||||||||||||||||||||
Other (expense)/income, net | (14.5 | ) | (11.3 | ) | 7.4 | ||||||||||||||||||||||||||||||||||||
(840.0 | ) | (969.8 | ) | (1046.9 | ) | ||||||||||||||||||||||||||||||||||||
Income from continuing operations | 95.1 | 97 | 62.4 | ||||||||||||||||||||||||||||||||||||||
Discontinued Operations: | |||||||||||||||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | 12.1 | (4.0 | ) | 30.6 | |||||||||||||||||||||||||||||||||||||
Impairment on dispositions of properties | (5.0 | ) | (21.1 | ) | (75.7 | ) | |||||||||||||||||||||||||||||||||||
Gain/(loss) on dispositions of properties | 223.4 | 94.5 | (0.1 | ) | |||||||||||||||||||||||||||||||||||||
Net income | $ | 325.6 | $ | 166.4 | $ | 17.2 | |||||||||||||||||||||||||||||||||||
Other liabilities included in the Company’s accompanying Consolidated Balance Sheets include accounts with certain real estate joint ventures totaling $41.5 million and $21.3 million at December 31, 2013 and 2012, respectively. The Company and its subsidiaries have varying equity interests in these real estate joint ventures, which may differ from their proportionate share of net income or loss recognized in accordance with GAAP. | |||||||||||||||||||||||||||||||||||||||||
The Company’s maximum exposure to losses associated with its unconsolidated joint ventures is primarily limited to its carrying value in these investments. Generally, such investments contain operating properties and the Company has determined these entities do not contain the characteristics of a VIE. As of December 31, 2013 and 2012, the Company’s carrying value in these investments is $1.3 billion. |
Note_8_Other_Real_Estate_Inves
Note 8 - Other Real Estate Investments | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Real Estate Investments [Abstract] | ' | ||||||||||||
Other Real Estate Investments [Text Block] | ' | ||||||||||||
8. Other Real Estate Investments: | |||||||||||||
Preferred Equity Capital – | |||||||||||||
The Company previously provided capital to owners and developers of real estate properties through its Preferred Equity program. As of December 31, 2013, the Company’s net investment under the Preferred Equity program was $236.9 million relating to 483 properties, including 392 net leased properties. For the year ended December 31, 2013, the Company earned $43.0 million from its preferred equity investments, including $20.8 million in profit participation earned from 16 capital transactions. For the year ended December 31, 2012, the Company’s net investment under the Preferred Equity program was $287.8 million relating to 504 properties, including 397 net leased properties. For the year ended December 31, 2012, the Company earned $43.1 million from its preferred equity investments, including $17.6 million in profit participation earned from 21 capital transactions. | |||||||||||||
During 2013, the Company amended one of its Canadian preferred equity agreements to restructure its investment, into a pari passu joint venture investment in which the Company holds a noncontrolling interest. As a result of the amendment, the Company continues to account for this investment under the equity method of accounting and from the date of the amendment will include this investment in Investments and advances to real estate joint ventures within the Company’s Consolidated Balance Sheets. | |||||||||||||
During 2013, a preferred equity investment in a portfolio of properties was acquired by the Company. As a result of this transaction, the Company now consolidates this investment. The Company evaluated this transaction pursuant to the FASB’s Consolidation guidance and as such recognized a change in control loss of $9.6 million, from the fair value adjustment associated with the Company’s original ownership. The Company’s estimated fair value relating to the change in control loss was based upon a discounted cash flow model that included all estimated cash inflows and outflows over a specified holding period. The capitalization rate, and discount rate utilized in this model were based upon rates that the Company believes to be within a reasonable range of current market rates. | |||||||||||||
During 2012, the Company amended one of its preferred equity agreements to restructure its investment, into a pari passu joint venture investment in which the Company holds a noncontrolling interest. The Company will continue to account for this investment under the equity method of accounting and from the date of the amendment will include this investment in Investments and advances in real estate joint ventures within the Company’s Consolidated Balance Sheets. | |||||||||||||
Included in the capital transactions described above for the year ended December 31, 2012, is the sale of three preferred equity investments in which the Company had a $0 investment and recognized promote income of $10.0 million. In connection with this transaction, the Company provided seller financing for $7.5 million, which bore interest at a rate of 7.0% and was paid off in October 2013. The Company evaluated this transaction pursuant to the FASB’s real estate sales guidance and concluded that the criteria for sale recognition was met. | |||||||||||||
During 2007, the Company invested $81.7 million of preferred equity capital in an entity which was comprised of 403 net leased properties (“Net Leased Portfolio”) which consisted of 30 master leased pools with each pool leased to individual corporate operators. Each master leased pool is accounted for as a direct financing lease. These properties consist of a diverse array of free-standing restaurants, fast food restaurants, convenience and auto parts stores. As of December 31, 2013, the remaining 392 properties were encumbered by third party loans aggregating $336.0 million with interest rates ranging from 5.08% to 10.47% with a weighted-average interest rate of 9.2% and maturities ranging from one to nine years. The Company recognized $13.2 million, $14.0 million and $12.7 million in equity in income from this investment during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The Company’s maximum exposure to losses associated with its preferred equity investments is primarily limited to its invested capital. As of December 31, 2013 and 2012, the Company’s invested capital in its preferred equity investments approximated $236.9 million and $287.8 million, respectively. | |||||||||||||
Summarized financial information relating to the Company’s preferred equity investments is as follows (in millions): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Assets: | |||||||||||||
Real estate, net | $ | 571.7 | $ | 824.7 | |||||||||
Other assets | 676.1 | 719.1 | |||||||||||
$ | 1,247.80 | $ | 1,543.80 | ||||||||||
Liabilities and Partners’/Members’ Capital: | |||||||||||||
Notes and mortgages payable | $ | 878.1 | $ | 1,116.90 | |||||||||
Other liabilities | 26.1 | 51.8 | |||||||||||
Partners’/Members’ capital | 343.6 | 375.1 | |||||||||||
$ | 1,247.80 | $ | 1,543.80 | ||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues from rental property | $ | 159.5 | $ | 195 | $ | 233.1 | |||||||
Operating expenses | (34.8 | ) | (44.7 | ) | (57.0 | ) | |||||||
Interest expense | (55.2 | ) | (72.0 | ) | (89.5 | ) | |||||||
Depreciation and amortization | (24.0 | ) | (33.7 | ) | (43.6 | ) | |||||||
Impairment charges (a) | - | (2.7 | ) | - | |||||||||
Other expense, net | (7.1 | ) | (8.3 | ) | (6.3 | ) | |||||||
Income from continuing operations | 38.4 | 33.6 | 36.7 | ||||||||||
Discontinued Operations: | |||||||||||||
Gain on disposition of properties | 20.8 | 17.5 | 6.2 | ||||||||||
Net income | $ | 59.2 | $ | 51.1 | $ | 42.9 | |||||||
(a) | Represents an impairment charge against one master leased pool due to decline in fair market value. | ||||||||||||
Kimsouth - | |||||||||||||
Kimsouth Realty Inc. (“Kimsouth”) is a wholly-owned subsidiary of the Company that holds a 13.6% noncontrolling interest in a joint venture which owns a portion of Albertson’s Inc. During the year ended December 31, 2013, the Company funded an aggregate $70.8 million as its participation in a transaction with Supervalu, Inc. (“SVU”) through a consortium led by Cerberus Capital Management, L.P. This investment included a contribution of $22.3 million to acquire 414 Albertsons locations from SVU through the Company’s existing joint venture in Albertsons in which the Company now holds a 13.6% noncontrolling ownership interest. The Company recorded this additional investment in Other real estate investments on the Company’s Consolidated Balance Sheets and will continue to account for its investment in this joint venture under the equity method of accounting. During the year ended December 31, 2013, the Company recorded $16.5 million in equity losses from operations in this joint venture, which is included in Equity in income from other real estate investments, net on the Company’s Consolidated Statements of Income. As such, the Company’s investment in its Albertsons joint venture as of December 31, 2013, was $5.8 million. Also included in this aggregate funding is the Company’s contribution of $14.9 million to fund its 15% noncontrolling investment in NAI Group Holdings Inc., a C-corporation, to acquire four grocery banners (Shaw’s, Jewel-Osco, Acme and Star Market) totaling 456 locations from SVU. The Company recorded this investment in Other assets on the Company’s Consolidated Balance Sheets and will account for this investment under the cost method of accounting. Additionally, as part of this overall funding, the Company acquired 8.2 million shares of SVU common stock for $33.6 million, which is recorded in Marketable securities on the Company’s Consolidated Balance Sheets. | |||||||||||||
During 2012, the Albertsons joint venture distributed $50.3 million of which the Company received $6.9 million, which was recognized as income from cash received in excess of the Company’s investment, before income tax, and is included in Equity in income from other real estate investments, net on the Company’s Consolidated Statements of Income. | |||||||||||||
Investment in Retail Store Leases - | |||||||||||||
The Company has interests in various retail store leases relating to the anchor store premises in neighborhood and community shopping centers. These premises have been sublet to retailers who lease the stores pursuant to net lease agreements. Income from the investment in these retail store leases during the years ended December 31, 2013, 2012 and 2011, was $0.9 million, $0.9 million and $0.8 million, respectively. These amounts represent sublease revenues during the years ended December 31, 2013, 2012 and 2011, of $3.6 million, $3.9 million and $5.1 million, respectively, less related expenses of $2.7 million, $3.0 million and $4.3 million, respectively. The Company's future minimum revenues under the terms of all non-cancelable tenant subleases and future minimum obligations through the remaining terms of its retail store leases, assuming no new or renegotiated leases are executed for such premises, for future years are as follows (in millions): 2014, $3.9 and $2.4; 2015, $3.1 and $2.0; 2016, $2.7 and $1.7; 2017, $2.1 and $1.2; 2018, $1.5 and $0.7, and thereafter, $0.09 and $0.06, respectively. | |||||||||||||
Leveraged Lease - | |||||||||||||
During June 2002, the Company acquired a 90% equity participation interest in an existing leveraged lease of 30 properties. The properties are leased under a long-term bond-type net lease whose primary term expires in 2016, with the lessee having certain renewal option rights. The Company’s cash equity investment was $4.0 million. This equity investment is reported as a net investment in leveraged lease in accordance with the FASB’s lease guidance. | |||||||||||||
As of December 31, 2013, 19 of these properties were sold, whereby the proceeds from the sales were used to pay down the mortgage debt by $32.3 million and the remaining 11 properties were encumbered by third-party non-recourse debt of $17.9 million that is scheduled to fully amortize during the primary term of the lease from a portion of the periodic net rents receivable under the net lease. | |||||||||||||
As an equity participant in the leveraged lease, the Company has no recourse obligation for principal or interest payments on the debt, which is collateralized by a first mortgage lien on the properties and collateral assignment of the lease. Accordingly, this obligation has been offset against the related net rental receivable under the lease. | |||||||||||||
At December 31, 2013 and 2012, the Company’s net investment in the leveraged lease consisted of the following (in millions): | |||||||||||||
2013 | 2012 | ||||||||||||
Remaining net rentals | $ | 15.9 | $ | 24 | |||||||||
Estimated unguaranteed residual value | 30.3 | 30.3 | |||||||||||
Non-recourse mortgage debt | (16.1 | ) | (19.0 | ) | |||||||||
Unearned and deferred income | (19.9 | ) | (27.6 | ) | |||||||||
Net investment in leveraged lease | $ | 10.2 | $ | 7.7 | |||||||||
Note_9_Variable_Interest_Entit
Note 9 - Variable Interest Entities | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
9. Variable Interest Entities: | |
Consolidated Ground-Up Development Projects | |
Included within the Company’s ground-up development projects at December 31, 2013, are two entities that are VIEs, for which the Company is the primary beneficiary. These entities were established to develop real estate property to hold as long-term investments. The Company’s involvement with these entities is through its majority ownership and management of the properties. The entities were deemed VIEs primarily based on the fact that the equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support. The initial equity contributed to these entities was not sufficient to fully finance the real estate construction as development costs are funded by the partners throughout the construction period. The Company determined that it was the primary beneficiary of these VIEs as a result of its controlling financial interest. | |
At December 31, 2013, total assets of these ground-up development VIEs were $88.3 million and total liabilities were $0.1 million. The classification of these assets is primarily within Real estate under development in the Company’s Consolidated Balance Sheets and the classifications of liabilities are primarily within Accounts payable and accrued expenses on the Company’s Consolidated Balance Sheets. | |
Substantially all of the projected development costs to be funded for these ground-up development VIEs, aggregating $33.7 million, will be funded with capital contributions from the Company and by the outside partners, when contractually obligated. The Company has not provided financial support to these VIEs that it was not previously contractually required to provide. | |
Unconsolidated Ground-Up Development | |
Also included within the Company’s ground-up development projects at December 31, 2013, is an unconsolidated joint venture, which is a VIE for which the Company is not the primary beneficiary. This joint venture is primarily established to develop real estate property for long-term investment and was deemed a VIE primarily based on the fact that the equity investment at risk was not sufficient to permit the entity to finance its activities without additional financial support. The initial equity contributed to this entity was not sufficient to fully finance the real estate construction as development costs are funded by the partners throughout the construction period. The Company determined that it was not the primary beneficiary of this VIE based on the fact that the Company has shared control of this entity along with the entity’s partner and therefore does not have a controlling financial interest. | |
The Company’s investment in this VIE was $18.2 million as of December 31, 2013, which is included in Real estate under development in the Company’s Consolidated Balance Sheets. The Company’s maximum exposure to loss as a result of its involvement with this VIE is estimated to be $19.6 million, which primarily represents the Company’s current investment and estimated future funding commitments of $1.4 million. The Company has not provided financial support to this VIE that it was not previously contractually required to provide. All future costs of development will be funded with capital contributions from the Company and the outside partner in accordance with their respective ownership percentages. | |
Unconsolidated Redevelopment Investment | |
Included in the Company’s joint venture investments at December 31, 2013, is one unconsolidated joint venture, which is a VIE for which the Company is not the primary beneficiary. This joint venture was primarily established to redevelop real estate property for long-term investment and was deemed a VIE primarily based on the fact that the equity investment at risk was not sufficient to permit the entity to finance its activities without additional financial support. The initial equity contributed to this entity was not sufficient to fully finance the real estate construction as redevelopment costs are funded by the partners throughout the construction period. The Company determined that it was not the primary beneficiary of this VIE based on the fact that the Company has shared control of this entity along with the entity’s partners and therefore does not have a controlling financial interest. | |
As of December 31, 2013, the Company’s investment in this VIE was a negative $11.1 million, due to the fact that the Company had a remaining capital commitment obligation, which is included in Other liabilities in the Company’s Consolidated Balance Sheets. The Company’s maximum exposure to loss as a result of its involvement with this VIE is estimated to be $11.1 million, which is the remaining capital commitment obligation. The Company has not provided financial support to this VIE that it was not previously contractually required to provide. All future costs of redevelopment will be funded with capital contributions from the Company and the outside partner in accordance with their respective ownership percentages. |
Note_10_Mortgages_and_Other_Fi
Note 10 - Mortgages and Other Financing Receivables | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Receivables [Abstract] | ' | ||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||
10. Mortgages and Other Financing Receivables: | |||||||||||||
The Company has various mortgages and other financing receivables which consist of loans acquired and loans originated by the Company. For a complete listing of the Company’s mortgages and other financing receivables at December 31, 2013, see Financial Statement Schedule IV included in this annual report on Form 10-K. | |||||||||||||
The following table reconciles mortgage loans and other financing receivables from January 1, 2011 to December 31, 2013 (in thousands): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at January 1 | $ | 70,704 | $ | 102,972 | $ | 108,493 | |||||||
Additions: | |||||||||||||
New mortgage loans | 8,527 | 29,496 | 14,297 | ||||||||||
Additions under existing mortgage loans | 7,810 | 895 | - | ||||||||||
Foreign currency translation | - | 1,181 | - | ||||||||||
Amortization of loan discounts | 653 | 247 | 247 | ||||||||||
Deductions: | |||||||||||||
Loan repayments/foreclosures | (53,640 | ) | (60,740 | ) | (15,803 | ) | |||||||
Charge off/foreign currency translation | (1,260 | ) | (430 | ) | (863 | ) | |||||||
Collections of principal | (2,529 | ) | (2,861 | ) | (3,345 | ) | |||||||
Amortization of loan costs | (22 | ) | (56 | ) | (54 | ) | |||||||
Balance at December 31 | $ | 30,243 | $ | 70,704 | $ | 102,972 | |||||||
The Company reviews payment status to identify performing versus non-performing loans. As of December 31, 2013, the Company had a total of 16 loans aggregating $30.2 million all of which were identified as performing loans. | |||||||||||||
During 2013, the Company foreclosed on two non-performing loans, in separate transactions, for an aggregate $25.6 million. As such, the Company acquired 59.24 acres of undeveloped land located in Westbrook, Maine and 427 acres of undeveloped land located in Brantford, Ontario, which was the collateral under each of the respective loans. The carrying values of the mortgage receivables did not exceed the fair values of the underlying collateral upon foreclosure. |
Note_11_Marketable_Securities
Note 11 - Marketable Securities | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||
11. Marketable Securities: | |||||||||||||
The amortized cost and estimated fair values of securities available-for-sale and held-to-maturity at December 31, 2013 and 2012, are as follows (in thousands): | |||||||||||||
31-Dec-13 | |||||||||||||
Amortized Cost | Gross Unrealized | Estimated | |||||||||||
Gains | Fair Value | ||||||||||||
Available-for-sale: | |||||||||||||
Equity securities | $ | 33,728 | $ | 25,995 | $ | 59,723 | |||||||
Held-to-maturity: | |||||||||||||
Debt securities | 3,043 | 59 | 3,102 | ||||||||||
Total marketable securities | $ | 36,771 | $ | 26,054 | $ | 62,825 | |||||||
31-Dec-12 | |||||||||||||
Amortized Cost | Gross Unrealized | Estimated | |||||||||||
Gains | Fair Value | ||||||||||||
Available-for-sale: | |||||||||||||
Equity securities | $ | 14,205 | $ | 19,223 | $ | 33,428 | |||||||
Held-to-maturity: | |||||||||||||
Debt securities | 3,113 | 284 | 3,397 | ||||||||||
Total marketable securities | $ | 17,318 | $ | 19,507 | $ | 36,825 | |||||||
During 2013, 2012 and 2011, the Company received $26.4 million, $0.2 million and $188.0 million in proceeds from the sale/redemption of certain marketable securities, respectively. In connection with these transactions, during 2013, 2012 and 2011 the Company recognized (i) gross realizable gains of $12.1 million, $0.0 million and $0.8 million, respectively, (ii) foreign currency gains of $0.0 million, $0.0 million and $1.6 million, respectively, and (iii) gross realizable losses of $0.0 million, $0.0 million and $0.3 million, respectively. | |||||||||||||
As of December 31, 2013, the contractual maturities of debt securities classified as held-to-maturity are as follows: after one year through five years, $2.2 million; and after five years through 10 years, $0.8 million. Actual maturities may differ from contractual maturities as issuers may have the right to prepay debt obligations with or without prepayment penalties. |
Note_12_Notes_Payable
Note 12 - Notes Payable | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||||||||
12. Notes Payable: | |||||||||||||||||
As of December 31, 2013 and 2012 the Company’s Notes Payable consisted of the following (dollars in millions): | |||||||||||||||||
Balance at 12/31/13 | Interest Rate Range (Low) | Interest Rate Range (High) | Maturity Date Range (Low) | Maturity Date Range (High) | |||||||||||||
Senior Unsecured Notes | $ | 1,140.90 | 3.13% | 6.88% | Jun-14 | Jun-23 | |||||||||||
Medium Term Notes | 1,044.60 | 4.30% | 5.78% | Jun-14 | Feb-18 | ||||||||||||
U.S. Term Loan (d) | 400 | (a) | (a) | Apr-14 | Apr-14 | ||||||||||||
Canadian Notes Payable | 329.5 | 3.86% | 5.99% | Apr-18 | Aug-20 | ||||||||||||
Credit Facility | 194.5 | (a) | (a) | Oct-15 | Oct-15 | ||||||||||||
Mexican Term Loan | 76.5 | (c) | (c) | Mar-18 | Mar-18 | ||||||||||||
$ | 3,186.00 | ||||||||||||||||
Balance at 12/31/12 | Interest Rate Range (Low) | Interest Rate Range (High) | Maturity Date Range (Low) | Maturity Date Range (High) | |||||||||||||
Senior Unsecured Notes | $ | 965.9 | 4.70% | 6.88% | Jan-13 | Oct-19 | |||||||||||
Medium Term Notes | 1,144.60 | 4.30% | 5.78% | Oct-13 | Feb-18 | ||||||||||||
U.S. Term Loan | 400 | (a) | (a) | Apr-14 | Apr-14 | ||||||||||||
Canadian Notes Payable | 352.4 | 5.18% | 5.99% | Aug-13 | Apr-18 | ||||||||||||
Credit Facility | 249.9 | (a) | (a) | Oct-15 | Oct-15 | ||||||||||||
Mexican Term Loan | 76.9 | 8.58% | 8.58% | Mar-13 | Mar-13 | ||||||||||||
Other Notes Payable | 2.4 | (b) | (b) | Jan-13 | Sep-13 | ||||||||||||
$ | 3,192.10 | ||||||||||||||||
(a) Interest rate is equal to LIBOR + 1.05% (1.22% and 1.26% at December 31, 2013 and 2012, respectively). | |||||||||||||||||
(b) Interest rate is equal to LIBOR + 3.50% (5.50% at December 31, 2012). | |||||||||||||||||
(c) Interest rate is equal to TIIE (Equilibrium Interbank Interest Rate) plus 1.35% (5.15% at December 31, 2013). | |||||||||||||||||
(d) During January 2014, the Company exercised its one-year extension option to extend the maturity date to April 17, 2015. | |||||||||||||||||
The weighted-average interest rate for all unsecured notes payable is 4.37% as of December 31, 2013. The scheduled maturities of all unsecured notes payable as of December 31, 2013, were as follows (in millions): 2014, $694.7; 2015, $544.5; 2016, $300.0; 2017, $290.9; 2018, $517.7 and thereafter, $838.2. | |||||||||||||||||
Senior Unsecured Notes/Medium Term Notes – | |||||||||||||||||
During September 2009, the Company entered into a fifth supplemental indenture, under the indenture governing its Medium Term Notes ("MTN") and Senior Notes, which included the financial covenants for future offerings under the indenture that were removed by the fourth supplemental indenture. | |||||||||||||||||
In accordance with the terms of the Indenture, as amended, pursuant to which the Company's Senior Unsecured Notes, except for $300.0 million issued during April 2007 under the fourth supplemental indenture, have been issued, the Company is subject to maintaining (a) certain maximum leverage ratios on both unsecured senior corporate and secured debt, minimum debt service coverage ratios and minimum equity levels, (b) certain debt service ratios, (c) certain asset to debt ratios and (d) restricted from paying dividends in amounts that exceed by more than $26.0 million the funds from operations, as defined, generated through the end of the calendar quarter most recently completed prior to the declaration of such dividend; however, this dividend limitation does not apply to any distributions necessary to maintain the Company's qualification as a REIT providing the Company is in compliance with its total leverage limitations. | |||||||||||||||||
The Company had a MTN program pursuant to which it offered for sale its senior unsecured debt for any general corporate purposes, including (i) funding specific liquidity requirements in its business, including property acquisitions, development and redevelopment costs and (ii) managing the Company's debt maturities. | |||||||||||||||||
Interest on the Company’s fixed-rate senior unsecured notes is payable semi-annually in arrears. Proceeds from these issuances were primarily used for the acquisition of neighborhood and community shopping centers, the expansion and improvement of properties in the Company’s portfolio and the repayment of certain debt obligations of the Company. | |||||||||||||||||
During May 2013, the Company issued $350.0 million of 10-year Senior Unsecured Notes at an interest rate of 3.125% payable semi-annually in arrears which are scheduled to mature in June 2023. Net proceeds from the issuance were $344.7 million, after related transaction costs of $0.5 million. The proceeds from this issuance were used for general corporate purposes including the partial reduction of borrowings under the Company’s revolving credit facility and the repayment of $75.0 million senior unsecured notes which matured in June 2013. | |||||||||||||||||
During July 2013, a wholly-owned subsidiary of the Company issued $200.0 million Canadian denominated (“CAD”) Series 4 unsecured notes on a private placement basis in Canada. The notes bear interest at 3.855% and are scheduled to mature on August 4, 2020. Proceeds from the notes were used to repay the Company’s CAD $200.0 million 5.180% unsecured notes, which matured on August 16, 2013. | |||||||||||||||||
During the years ended December 31, 2013 and 2012, the Company repaid the following notes (dollars in millions): | |||||||||||||||||
Type | Date Issued | Amount Repaid | Interest Rate | Maturity Date | Date Paid | ||||||||||||
MTN | 3-Oct | $ | 100 | 5.19% | 13-Oct | 13-Oct | |||||||||||
Senior Note | 6-Oct | $ | 75 | 4.70% | 13-Jun | 13-Jun | |||||||||||
Senior Note | 6-Oct | $ | 100 | 6.13% | 13-Jan | 13-Jan | |||||||||||
Senior Note | 2-Nov | $ | 198.9 | 6.00% | 12-Nov | 12-Nov | |||||||||||
MTN | 2-Jul | $ | 17 | 5.98% | 12-Jul | 12-Jul | |||||||||||
Credit Facility – | |||||||||||||||||
The Company has a $1.75 billion unsecured revolving credit facility (the “Credit Facility”) with a group of banks, which is scheduled to expire in October 2015 and has a one-year extension option. This credit facility, provides funds to finance general corporate purposes, including (i) property acquisitions, (ii) investments in the Company’s institutional management programs, (iii) development and redevelopment costs and (iv) any short-term working capital requirements. Interest on borrowings under the Credit Facility accrues at LIBOR plus 1.05% and fluctuates in accordance with changes in the Company’s senior debt ratings and has a facility fee of 0.20% per annum. As part of this Credit Facility, the Company has a competitive bid option whereby the Company could auction up to $875.0 million of its requested borrowings to the bank group. This competitive bid option provides the Company the opportunity to obtain pricing below the currently stated spread. In addition, as part of the Credit Facility, the Company has a $500.0 million sub-limit which provides it the opportunity to borrow in alternative currencies such as Canadian Dollars, British Pounds Sterling, Japanese Yen or Euros. Pursuant to the terms of the Credit Facility, the Company, among other things, is subject to covenants requiring the maintenance of (i) maximum leverage ratios on both unsecured and secured debt and (ii) minimum interest and fixed coverage ratios. As of December 31, 2013, the Credit Facility had a balance of $194.5 million outstanding and $3.3 million appropriated for letters of credit. | |||||||||||||||||
U.S. Term Loan - | |||||||||||||||||
The Company has a $400.0 million unsecured term loan with a consortium of banks, which accrues interest at LIBOR plus 105 basis points. The term loan is scheduled to mature in April 2014, with three additional one-year options to extend the maturity date, at the Company’s discretion, to April 17, 2017. Proceeds from this term loan were used for general corporate purposes including the repayment of maturing debt amounts. Pursuant to the terms of the Credit Agreement, the Company, among other things is subject to covenants requiring the maintenance of (i) maximum indebtedness ratios and (ii) minimum interest and fixed charge coverage ratios. During January 2014, the Company exercised the first of its one-year extension options to extend the maturity date to April 17, 2015. | |||||||||||||||||
Mexican Term Loan - | |||||||||||||||||
During March 2013, the Company entered into a new five year 1.0 billion Mexican peso term loan which is scheduled to mature in March 2018. This term loan bears interest at a rate equal to TIIE (Equilibrium Interbank Interest Rate) plus 1.35% (5.15% as of December 31, 2013). The Company has the option to swap this rate to a fixed rate at any time during the term of the loan. The Company used these proceeds to repay its 1.0 billion MXN term loan, which matured in March 2013 and bore interest at a fixed rate of 8.58%. As of December 31, 2013, the outstanding balance on this new term loan was MXN 1.0 billion (USD $76.5 million). |
Note_13_Mortgages_Payable
Note 13 - Mortgages Payable | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Mortgage Notes Payable Disclosure [Text Block] | ' |
13. Mortgages Payable: | |
During 2013, the Company (i) assumed $284.9 million of individual non-recourse mortgage debt relating to the acquisition of nine operating properties, including an increase of $5.8 million associated with fair value debt adjustments, (ii) paid off $256.3 million of mortgage debt that encumbered 14 properties and (iii) obtained $36.0 million of individual non-recourse debt relating to three operating properties. | |
During 2012, the Company (i) assumed $185.3 million of individual non-recourse mortgage debt relating to the acquisition of seven operating properties, including an increase of $6.1 million associated with fair value debt adjustments, (ii) paid off $284.8 million of mortgage debt that encumbered 19 properties and (iii) assigned five mortgages aggregating $17.1 million in connection with property dispositions. | |
Mortgages payable, collateralized by certain shopping center properties and related tenants' leases, are generally due in monthly installments of principal and/or interest, which mature at various dates through 2035. Interest rates range from LIBOR (0.14% as of December 31, 2013) to 9.75% (weighted-average interest rate of 5.88% as of December 31, 2013). The scheduled principal payments (excluding any extension options available to the Company) of all mortgages payable, excluding unamortized fair value debt adjustments of $10.7 million, as of December 31, 2013, were as follows (in millions): 2014, $143.5; 2015, $176.2; 2016, $291.2; 2017, $178.0; 2018, $54.9 and thereafter, $180.9. |
Note_14_Noncontrolling_Interes
Note 14 - Noncontrolling Interests | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||||
Noncontrolling Interest Disclosure [Text Block] | ' | |||||||||||||
14. Noncontrolling Interests: | ||||||||||||||
Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates as a result of having a controlling interest or determined that the Company was the primary beneficiary of a VIE in accordance with the provisions of the FASB’s Consolidation guidance. | ||||||||||||||
The Company accounts and reports for noncontrolling interests in accordance with the Consolidation guidance and the Distinguishing Liabilities from Equity guidance issued by the FASB. The Company identifies its noncontrolling interests separately within the equity section on the Company’s Consolidated Balance Sheets. Units that are determined to be mandatorily redeemable are classified as Redeemable noncontrolling interests and presented in the mezzanine section between Total liabilities and Stockholder’s equity on the Company’s Consolidated Balance Sheets. The amounts of consolidated net income attributable to the Company and to the noncontrolling interests are presented separately on the Company’s Consolidated Statements of Income. | ||||||||||||||
The Company owns seven shopping center properties located throughout Puerto Rico. These properties were acquired partially through the issuance of $158.6 million of non-convertible units and $45.8 million of convertible units. Noncontrolling interests related to these acquisitions totaled $233.0 million of units, including premiums of $13.5 million and a fair market value adjustment of $15.1 million (collectively, the "Units"). The Company is restricted from disposing of these assets, other than through a tax free transaction until November 2015. The Units and related annual cash distribution rates consisted of the following: | ||||||||||||||
Type | Number of Units Issued | Par Value Per Unit | Return Per Annum | |||||||||||
Preferred A Units (1) | 81,800,000 | $ | 1 | 7.00% | ||||||||||
Class A Preferred Units (1) | 2,000 | $ | 10,000 | LIBOR | plus | 2.00% | ||||||||
Class B-1 Preferred Units (2) | 2,627 | $ | 10,000 | 7.00% | ||||||||||
Class B-2 Preferred Units (1) | 5,673 | $ | 10,000 | 7.00% | ||||||||||
Class C DownReit Units (2) | 640,001 | $ | 30.52 | Equal to the Company’s common stock dividend | ||||||||||
-1 | These units are redeemable for cash by the holder or callable by the Company and are included in Redeemable noncontrolling interests on the Company’s Consolidated Balance Sheets. | |||||||||||||
-2 | These units are redeemable for cash by the holder or at the Company’s option, shares of the Company’s common stock, based upon the conversion calculation as defined in the agreement. These units are included in Noncontrolling interests on the Company’s Consolidated Balance Sheets. | |||||||||||||
The following Units have been redeemed for cash as of December 31, 2013: | ||||||||||||||
Type | Units Redeemed | Par Value Redeemed | ||||||||||||
(in millions) | ||||||||||||||
Preferred A Units | 2,200,000 | $ | 2.2 | |||||||||||
Class A Preferred Units | 2,000 | $ | 20 | |||||||||||
Class B-1 Preferred Units | 2,438 | $ | 24.4 | |||||||||||
Class B-2 Preferred Units | 5,576 | $ | 55.8 | |||||||||||
Class C DownReit Units | 61,804 | $ | 1.9 | |||||||||||
Noncontrolling interest relating to the remaining units was $111.4 million and $110.8 million as of December 31, 2013 and 2012, respectively. | ||||||||||||||
The Company owns two shopping center properties located in Bay Shore, NY and Centereach, NY. Included in Noncontrolling interests was $41.6 million, including a discount of $0.3 million and a fair market value adjustment of $3.8 million, in redeemable units, issued by the Company in connection with the acquisition of these properties. These units and related annual cash distribution rates consist of the following: | ||||||||||||||
Type | Number of Units Issued | Par Value Per Unit | Return Per Annum | |||||||||||
Class A Units (1) | 13,963 | $ | 1,000 | 5.00% | ||||||||||
Class B Units (2) | 647,758 | $ | 37.24 | Equal to the Company’s common stock dividend | ||||||||||
-1 | These units are redeemable for cash by the holder or callable by the Company any time after April 3, 2016 and are included in Redeemable noncontrolling interests on the Company’s Consolidated Balance Sheets. | |||||||||||||
-2 | These units are redeemable for cash by the holder or at the Company’s option, shares of the Company’s common stock at a ratio of 1:1 and are callable by the Company any time after April 3, 2026. These units are included in Noncontrolling interests on the Company’s Consolidated Balance Sheets. | |||||||||||||
During 2012, all 13,963 Class A Units were redeemed by the holder in cash. Additionally, during 2007, 30,000 units, or $1.1 million par value, of the Class B Units were redeemed by the holder in cash at the option of the Company. As of December 31, 2013 and 2012, noncontrolling interest relating to the units was $26.4 million. | ||||||||||||||
Noncontrolling interests also includes 138,015 convertible units issued during 2006, by the Company, which were valued at $5.3 million, including a fair market value adjustment of $0.3 million, related to an interest acquired in an office building located in Albany, NY. These units are redeemable at the option of the holder after one year for cash or at the option of the Company for the Company’s common stock at a ratio of 1:1. The holder is entitled to a distribution equal to the dividend rate of the Company’s common stock. The Company is restricted from disposing of these assets, other than through a tax free transaction, until January 2017. | ||||||||||||||
The following table presents the change in the redemption value of the Redeemable noncontrolling interests for the years ended December 31, 2013 and 2012 (in thousands): | ||||||||||||||
2013 | 2012 | |||||||||||||
Balance at January 1, | $ | 81,076 | $ | 95,074 | ||||||||||
Issuance of redeemable units (1) | 5,223 | - | ||||||||||||
Unit redemptions | - | (13,998 | ) | |||||||||||
Fair market value adjustment, net | (225 | ) | - | |||||||||||
Other | 79 | - | ||||||||||||
Balance at December 31, | $ | 86,153 | $ | 81,076 | ||||||||||
-1 | During the year ended December 31, 2013, the Company issued 5,223 units at $5.2 million of redeemable units, which are redeemable at the option of the holder after one year and earn a yield of 6% per annum. | |||||||||||||
Note_15_Fair_Value_Disclosure_
Note 15 - Fair Value Disclosure of Financial Instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
15. Fair Value Disclosure of Financial Instruments: | |||||||||||||||||
All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management’s estimation based upon an interpretation of available market information and valuation methodologies, reasonably approximate their fair values, except those listed below, for which fair values are disclosed. The fair values for marketable securities are based on published or securities dealers’ estimated market values. Such fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition. | |||||||||||||||||
As a basis for considering market participant assumptions in fair value measurements, the FASB’s Fair Value Measurements and Disclosures guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). | |||||||||||||||||
The following are financial instruments for which the Company’s estimate of fair value differs from the carrying amounts (in thousands): | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||
Amounts | Fair Value | Amounts | Fair Value | ||||||||||||||
Marketable Securities (1) | $ | 62,766 | $ | 62,824 | $ | 36,541 | $ | 36,825 | |||||||||
Notes Payable (2) | $ | 3,186,047 | $ | 3,333,614 | $ | 3,192,127 | $ | 3,408,632 | |||||||||
Mortgages Payable (3) | $ | 1,035,354 | $ | 1,083,801 | $ | 1,003,190 | $ | 1,068,616 | |||||||||
(1) As of December 31, 2013, $59.7 million of these assets’ estimated fair value were classified within Level 1 of the fair value hierarchy and the remaining $3.1 million were classified within Level 3 of the fair value hierarchy. | |||||||||||||||||
(2) The Company determined that its valuation of these Notes payable was classified within Level 2 of the fair value hierarchy. | |||||||||||||||||
(3) The Company determined that its valuation of these liabilities was classified within Level 3 of the fair value hierarchy. | |||||||||||||||||
The Company has available for sale securities that must be measured under the FASB’s Fair Value Measurements and Disclosures guidance. The Company currently does not have non-financial assets and non-financial liabilities that are required to be measured at fair value on a recurring basis. | |||||||||||||||||
In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. | |||||||||||||||||
The Company from time to time has used interest rate swaps to manage its interest rate risk. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Based on these inputs, the Company has determined that interest rate swap valuations are classified within Level 2 of the fair value hierarchy. The Company did not have any interest rate swaps as of December 31, 2013. | |||||||||||||||||
The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012, aggregated by the level in the fair value hierarchy within which those measurements fall. | |||||||||||||||||
Assets measured at fair value on a recurring basis at December 31, 2013 and 2012 (in thousands): | |||||||||||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-13 | |||||||||||||||||
Marketable equity securities | $ | 59,723 | $ | 59,723 | $ | - | $ | - | |||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-12 | |||||||||||||||||
Marketable equity securities | $ | 33,428 | $ | 33,428 | $ | - | $ | - | |||||||||
Assets measured at fair value on a non-recurring basis at December 31, 2013 and 2012 are as follows (in thousands): | |||||||||||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-13 | |||||||||||||||||
Real estate | $ | 217,529 | $ | - | $ | - | $ | 217,529 | |||||||||
Joint venture investments | $ | 59,693 | $ | - | $ | - | $ | 59,693 | |||||||||
Other real estate investments | $ | 2,050 | $ | - | $ | - | $ | 2,050 | |||||||||
Cost method investment | $ | 4,670 | $ | - | $ | - | $ | 4,670 | |||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-12 | |||||||||||||||||
Real estate | $ | 52,505 | $ | - | $ | - | $ | 52,505 | |||||||||
During the year ended December 31, 2013, the Company recognized impairment charges of $190.2 million, of which $98.8 million, before income taxes, is included in discontinued operations. These impairment charges consist of (i) $175.6 million related to adjustments to property carrying values, (ii) $10.4 million related to a cost method investment, (iii) $1.0 million related to certain joint venture investments and (iv) $3.2 million related to a preferred equity investment. During the year ended December 31, 2012, the Company recognized impairment charges related to adjustments to property carrying values of $59.6 million, of which $49.3 million, before income taxes and noncontrolling interests, is included in discontinued operations. | |||||||||||||||||
The Company’s estimated fair values for the year ended December 31, 2013, were primarily based upon (i) estimated sales prices from third party offers based on signed contracts relating to property carrying values and joint venture investments and (ii) a discounted cash flow model relating to the Company’s cost method investment. The Company does not have access to the unobservable inputs used by the third parties to determine these estimated fair values. The discounted cash flows model includes all estimated cash inflows and outflows over a specified holding period. These cash flows were comprised of unobservable inputs which include forecasted revenues and expenses based upon market conditions and expectations for growth. The capitalization rate of 6.0% and discount rate of 9.5% which were utilized in this model were based upon observable rates that the Company believes to be within a reasonable range of current market rates for the respective investments. | |||||||||||||||||
The Company’s estimated fair values for the year ended December 31, 2012, relating to the real estate assets measured on a non-recurring basis, which were non-retail assets, were based upon estimated sales prices from third party offers and comparable sales values ranging from $1.1 million to $42.0 million. The Company does not have access to certain unobservable inputs used by these third parties to determine these estimated fair values (see footnote 6 for additional discussion related to these assets). | |||||||||||||||||
Based on these inputs the Company determined that its valuation of these investments was classified within Level 3 of the fair value hierarchy. The property carrying value impairment charges resulted from the Company’s efforts to market certain assets and management’s assessment as to the likelihood and timing of such potential transactions. |
Note_16_Preferred_Stock_Common
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||||||||||||||
16. Preferred Stock, Common Stock and Convertible Unit Transactions – | |||||||||||||||||||||||||
Preferred Stock – | |||||||||||||||||||||||||
The Company’s outstanding Preferred Stock is detailed below (in thousands, except share information and par values): | |||||||||||||||||||||||||
As of December 31, 2013 and 2012 | |||||||||||||||||||||||||
Series of Preferred Stock | Shares Authorized | Shares Issued and Outstanding | Liquidation Preference | Dividend Rate | Annual Dividend per Depositary Share | Par Value | |||||||||||||||||||
Series H | 70,000 | 70,000 | $ | 175,000 | 6.90% | $ | 1.725 | $ | 1 | ||||||||||||||||
Series I | 18,400 | 16,000 | 400,000 | 6.00% | $ | 1.5 | $ | 1 | |||||||||||||||||
Series J | 9,000 | 9,000 | 225,000 | 5.50% | $ | 1.375 | $ | 1 | |||||||||||||||||
Series K | 8,050 | 7,000 | 175,000 | 5.63% | $ | 1.40625 | $ | 1 | |||||||||||||||||
105,450 | 102,000 | $ | 975,000 | ||||||||||||||||||||||
Series of Preferred Stock | Date Issued | Depositary Shares Issued | Fractional Interest per Share | Net Proceeds, After Expenses (in millions) | Offering/ Redemption Price | Optional Redemption Date | |||||||||||||||||||
Series H(1) | 8/30/10 | 7,000,000 | 1/100 | $ | 169.2 | $ | 25 | 8/30/15 | |||||||||||||||||
Series I (2) | 3/20/12 | 16,000,000 | 1/1000 | $ | 387.2 | $ | 25 | 3/20/17 | |||||||||||||||||
Series J (3) | 7/25/12 | 9,000,000 | 1/1000 | $ | 217.8 | $ | 25 | 7/25/17 | |||||||||||||||||
Series K (4) | 12/7/12 | 7,000,000 | 1/1000 | $ | 169.1 | $ | 25 | 12/7/17 | |||||||||||||||||
-1 | The net proceeds received from this offering were used to repay $150.0 million in mortgages payable and for general corporate purposes. | ||||||||||||||||||||||||
-2 | The net proceeds received from this offering were used for general corporate purposes, including the reduction of borrowings outstanding under the Company’s revolving credit facility and the redemption of shares of the Company’s preferred stock. | ||||||||||||||||||||||||
-3 | The net proceeds received from this offering were used for the redemption of all the outstanding depositary shares representing the Company’s Class F preferred stock, which redemption occurred on August 15, 2012, as discussed below, with the remaining proceeds used towards the redemption of outstanding depositary shares representing the Company’s Class G preferred stock, which redemption occurred on October 10, 2012, as discussed below, and general corporate purposes. | ||||||||||||||||||||||||
-4 | The net proceeds received from this offering were used for general corporate purposes, including funding towards the repayment of maturing Senior Unsecured Notes. | ||||||||||||||||||||||||
The following Preferred Stock series were redeemed during the year ended December 31, 2012: | |||||||||||||||||||||||||
Series of Preferred Stock | Date Issued | Depositary Shares Issued | Redemption Amount | Offering/ Redemption Price | Optional Redemption Date | Actual Redemption Date | |||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Series F (1) | 6/5/03 | 7,000,000 | $ | 175 | $ | 25 | 6/5/08 | 8/15/12 | |||||||||||||||||
Series G (2) | 10/10/07 | 18,400,000 | $ | 460 | $ | 25 | 10/10/12 | 10/10/12 | |||||||||||||||||
-1 | In connection with this redemption the Company recorded a non-cash charge of $6.2 million resulting from the difference between the redemption amount and the carrying amount of the Class F Preferred Stock on the Company’s Consolidated Balance Sheets in accordance with the FASB’s guidance on Distinguishing Liabilities from Equity. The $6.2 million was subtracted from net income to arrive at net income available to common shareholders and is used in the calculation of earnings per share for the year ended December 31, 2012. | ||||||||||||||||||||||||
-2 | In connection with this redemption the Company recorded a non-cash charge of $15.5 million resulting from the difference between the redemption amount and the carrying amount of the Class G Preferred Stock on the Company’s Consolidated Balance Sheets in accordance with the FASB’s guidance on Distinguishing Liabilities from Equity. The $15.5 million was subtracted from net income to arrive at net income available to common shareholders and is used in the calculation of earnings per share for the year ended December 31, 2012. | ||||||||||||||||||||||||
The Company’s Preferred Stock Depositary Shares for all series are not convertible or exchangeable for any other property or securities of the Company. | |||||||||||||||||||||||||
Voting Rights - The Class H Preferred Stock, Class I Preferred Stock, Class J Preferred Stock and Class K Preferred Stock rank pari passu as to voting rights, priority for receiving dividends and liquidation preference as set forth below. | |||||||||||||||||||||||||
As to any matter on which the Class H Preferred Stock may vote, including any actions by written consent, each share of the Class H Preferred Stock shall be entitled to 100 votes, each of which 100 votes may be directed separately by the holder thereof. With respect to each share of Class H Preferred Stock, the holder thereof may designate up to 100 proxies, with each such proxy having the right to vote a whole number of votes (totaling 100 votes per share of Class H Preferred Stock). As a result, each Class H Depositary Share is entitled to one vote. | |||||||||||||||||||||||||
As to any matter on which the Class I, J, or K Preferred Stock may vote, including any actions by written consent, each share of the Class I, J or K Preferred Stock shall be entitled to 1,000 votes, each of which 1,000 votes may be directed separately by the holder thereof. With respect to each share of Class I, J or K Preferred Stock, the holder thereof may designate up to 1,000 proxies, with each such proxy having the right to vote a whole number of votes (totaling 1,000 votes per share of Class I, J or K Preferred Stock). As a result, each Class I, J or K Depositary Share is entitled to one vote. | |||||||||||||||||||||||||
Liquidation Rights – | |||||||||||||||||||||||||
In the event of any liquidation, dissolution or winding up of the affairs of the Company, preferred stock holders are entitled to be paid, out of the assets of the Company legally available for distribution to its stockholders, a liquidation preference of $2,500.00 Class H Preferred Stock per share, $25,000.00 Class I Preferred Stock per share, $25,000.00 Class J Preferred Stock per share and $25,000.00 Class K Preferred Stock per share ($25.00 per each Class H, Class I, Class J and Class K Depositary Share), plus an amount equal to any accrued and unpaid dividends to the date of payment, before any distribution of assets is made to holders of the Company’s common stock or any other capital stock that ranks junior to the preferred stock as to liquidation rights. | |||||||||||||||||||||||||
Common Stock – | |||||||||||||||||||||||||
The Company, from time to time, repurchases shares of its common stock in amounts that offset new issuances of common shares in connection with the exercise of stock options or the issuance of restricted stock awards. These share repurchases may occur in open market purchases, privately negotiated transactions or otherwise subject to prevailing market conditions, the Company’s liquidity requirements, contractual restrictions and other factors. The Company did not repurchase any shares during the year ended December 31, 2013. During the year ended December 31, 2012, the Company repurchased 1,635,823 shares of the Company’s common stock for $30.9 million, of which $22.6 million was provided to the Company from stock options exercised. | |||||||||||||||||||||||||
Convertible Units – | |||||||||||||||||||||||||
The Company has various types of convertible units that were issued in connection with the purchase of operating properties (see footnote 14). The amount of consideration that would be paid to unaffiliated holders of units issued from the Company’s consolidated subsidiaries which are not mandatorily redeemable, as if the termination of these consolidated subsidiaries occurred on December 31, 2013, is $33.2 million. The Company has the option to settle such redemption in cash or shares of the Company’s common stock. If the Company exercised its right to settle in Common Stock, the unit holders would receive 1.6 million shares of Common Stock. |
Note_17_Supplemental_Schedule_
Note 17 - Supplemental Schedule of Non-Cash Investing/Financing Activities | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | ||||||||||||
17. Supplemental Schedule of Non-Cash Investing/Financing Activities: | |||||||||||||
The following schedule summarizes the non-cash investing and financing activities of the Company for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Acquisition of real estate interests by assumption of mortgage debt | $ | 76,477 | $ | 179,198 | $ | 117,912 | |||||||
Acquisition of real estate interests through foreclosure | $ | 24,322 | $ | - | $ | - | |||||||
Acquisition of real estate interests by issuance of redeemable units | $ | 3,985 | $ | - | $ | - | |||||||
Acquisition of real estate interests through proceeds held in escrow | $ | 42,892 | $ | - | $ | - | |||||||
Disposition of real estate interest by assignment of mortgage debt | $ | - | $ | 17,083 | $ | - | |||||||
Disposition of real estate through the issuance of unsecured obligation | $ | 3,513 | $ | 13,475 | $ | 14,297 | |||||||
Issuance of common stock | $ | 9,213 | $ | 18,115 | $ | 4,941 | |||||||
Surrender of common stock | $ | (3,891 | ) | $ | (2,073 | ) | $ | (596 | ) | ||||
Declaration of dividends paid in succeeding period | $ | 104,496 | $ | 96,518 | $ | 92,159 | |||||||
Consolidation of Joint Ventures: | |||||||||||||
Increase in real estate and other assets | $ | 228,200 | $ | - | $ | - | |||||||
Increase in mortgage payable | $ | 206,489 | $ | - | $ | - | |||||||
Note_18_Transactions_with_Rela
Note 18 - Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
18. Transactions with Related Parties: | |
The Company provides management services for shopping centers owned principally by affiliated entities and various real estate joint ventures in which certain stockholders of the Company have economic interests. Such services are performed pursuant to management agreements which provide for fees based upon a percentage of gross revenues from the properties and other direct costs incurred in connection with management of the centers. Reference is made to Footnotes 3, 4, 7 and 19 for additional information regarding transactions with related parties. | |
Ripco Real Estate Corp. (“Ripco”) business activities include serving as a leasing agent and representative for national and regional retailers including Target, Best Buy, Kohls and many others, providing real estate brokerage services and principal real estate investing. Mr. Todd Cooper, an officer and 50% shareholder of Ripco, is a son of Mr. Milton Cooper, Executive Chairman of the Board of Directors of the Company. During 2013, 2012 and 2011, the Company paid brokerage commissions of $0.6 million, $0.8 million and $0.5 million, respectively, to Ripco for services rendered primarily as leasing agent for various national tenants in shopping center properties owned by the Company. The Company believes that the brokerage commissions paid were at or below the customary rates for such leasing services. | |
Additionally, the Company held joint venture investments with Ripco in which the Company and Ripco each held 50% noncontrolling interests. The Company accounted for its investment in these joint ventures under the equity method of accounting. During 2013, the one remaining joint venture investment with Ripco sold its only operating property for a sales price of $3.5 million, which was encumbered by a $2.8 million loan, which was guaranteed by the Company. As a result of this transaction the loan was fully repaid and the Company was relieved of the corresponding debt guarantee on the loan. As such, as of December 31, 2013 the Company no longer held any joint venture investments with Ripco. |
Note_19_Commitments_and_Contin
Note 19 - Commitments and Contingencies | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||||||||||||
19. Commitments and Contingencies: | |||||||||||||||||||
Operations - | |||||||||||||||||||
The Company and its subsidiaries are primarily engaged in the operation of shopping centers that are either owned or held under long-term leases that expire at various dates through 2095. The Company and its subsidiaries, in turn, lease premises in these centers to tenants pursuant to lease agreements which provide for terms ranging generally from 5 to 25 years and for annual minimum rentals plus incremental rents based on operating expense levels and tenants' sales volumes. Annual minimum rentals plus incremental rents based on operating expense levels comprised 97% of total revenues from rental property for each of the three years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||
The future minimum revenues from rental property under the terms of all non-cancelable tenant leases, assuming no new or renegotiated leases are executed for such premises, for future years are as follows (in millions): 2014, $704.8; 2015, $649.6; 2016, $570.2; 2017, $483.0; 2018, $390.5 and thereafter; $1,913.9. | |||||||||||||||||||
Base rental revenues from rental property are recognized on a straight-line basis over the terms of the related leases. The difference between the amount of rental income contracted through leases and rental income recognized on a straight-line basis before allowances for the years ended December 31, 2013, 2012 and 2011 was $4.8 million, $6.2 million and $8.1 million, respectively. | |||||||||||||||||||
Minimum rental payments under the terms of all non-cancelable operating leases pertaining to the Company’s shopping center portfolio for future years are as follows (in millions): 2014, $12.3; 2015, $11.3; 2016, $10.4; 2017, $9.9; 2018, $8.8 and thereafter, $164.4. | |||||||||||||||||||
Captive Insurance - | |||||||||||||||||||
In October 2007, the Company formed a wholly-owned captive insurance company, Kimco Insurance Company, Inc., ("KIC"), which provides general liability insurance coverage for all losses below the deductible under our third-party policy. The Company entered into the Insurance Captive as part of its overall risk management program and to stabilize its insurance costs, manage exposure and recoup expenses through the functions of the captive program. The Company capitalized KIC in accordance with the applicable regulatory requirements. KIC established annual premiums based on projections derived from the past loss experience of the Company’s properties. KIC has engaged an independent third party to perform an actuarial estimate of future projected claims, related deductibles and projected expenses necessary to fund associated risk management programs. Premiums paid to KIC may be adjusted based on this estimate, like premiums paid to third-party insurance companies, premiums paid to KIC may be reimbursed by tenants pursuant to specific lease terms. | |||||||||||||||||||
Guarantees – | |||||||||||||||||||
On a select basis, the Company had provided guarantees on interest bearing debt held within real estate joint. The Company is often provided with a back-stop guarantee from its partners. The Company had the following outstanding guarantees as of December 31, 2013 (amounts in millions): | |||||||||||||||||||
Name of Joint Venture | Amount of | Interest rate | Maturity, | Terms | Type of debt | ||||||||||||||
Guarantee | with extensions | ||||||||||||||||||
InTown Suites Management, Inc. | $ | 139.7 | LIBOR | plus | 1.15% | 2015 | -1 | Unsecured credit facility | |||||||||||
Victoriaville | $ | 2.3 | 3.92% | 2020 | Jointly and severally with partner | Promissory note | |||||||||||||
(1) During June 2013, the Company sold its unconsolidated investment in the InTown portfolio for a sales price of $735.0 million which included the assignment of $609.2 million in debt. This transaction resulted in a deferred gain to the Company of $21.7 million. The Company continues to maintain its guarantee of a portion of the debt assumed by the buyer ($139.7 million as of December 31, 2013). The guarantee is collateralized by the buyer’s ownership interest in the portfolio. Additionally, the Company has entered into a commitment to provide financing up to the outstanding amount of the guaranteed portion of the loan for five years past the date of maturity. This commitment can be in the form of extensions with the current lender or a new lender or financing directly from the Company to the buyer. | |||||||||||||||||||
The Company evaluated these guarantees in connection with the provisions of the FASB’s Guarantees guidance and determined that the impact did not have a material effect on the Company’s financial position or results of operations. | |||||||||||||||||||
Letters of Credit - | |||||||||||||||||||
The Company has issued letters of credit in connection with the completion and repayment guarantees for loans encumbering certain of the Company’s redevelopment projects and guaranty of payment related to the Company’s insurance program. At December 31, 2013, these letters of credit aggregated $31.9 million. | |||||||||||||||||||
Other - | |||||||||||||||||||
In connection with the construction of its development and redevelopment projects and related infrastructure, certain public agencies require posting of performance and surety bonds to guarantee that the Company’s obligations are satisfied. These bonds expire upon the completion of the improvements and infrastructure. As of December 31, 2013, there were $21.1 million in performance and surety bonds outstanding. | |||||||||||||||||||
On January 28, 2013, the Company received a subpoena from the Enforcement Division of the SEC in connection with an investigation, In the Matter of Wal-Mart Stores, Inc. (FW-3678), that the SEC Staff is currently conducting with respect to possible violations of the Foreign Corrupt Practices Act. The Company is cooperating fully with the SEC in this matter. The Company has also been notified that the U.S. Department of Justice (“DOJ”) is conducting a parallel investigation, and the Company expects that it will cooperate with the DOJ investigation. At this point, we are unable to predict the duration, scope or result of the SEC or DOJ investigation. | |||||||||||||||||||
The Company is subject to various other legal proceedings and claims that arise in the ordinary course of business. Management believes that the final outcome of such matters will not have a material adverse effect on the financial position, results of operations or liquidity of the Company as of December 31, 2013. |
Note_20_Incentive_Plans
Note 20 - Incentive Plans | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||
20. Incentive Plans: | |||||||||||||
The Company accounts for equity awards in accordance with FASB’s Compensation – Stock Compensation guidance which requires that all share based payments to employees, including grants of employee stock options, restricted stock and performance shares, be recognized in the Statement of Income over the service period based on their fair values. Fair value is determined, depending on the type of award, using either the Black-Scholes option pricing formula or the Monte Carlo method for performance shares, both of which are intended to estimate the fair value of the awards at the grant date. Fair value of restricted shares is calculated based on the price on the date of grant. | |||||||||||||
The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing formula. The assumption for expected volatility has a significant effect on the grant date fair value. Volatility is determined based on the historical equity of common stock for the most recent historical period equal to the expected term of the options plus an implied volatility measure. The expected term is determined using the simplified method due to the lack of exercise and cancelation history for the current vesting terms. The more significant assumptions underlying the determination of fair values for options granted during 2013, 2012 and 2011 were as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Weighted average fair value of options granted | $ | 5.04 | $ | 4.52 | $ | 4.39 | |||||||
Weighted average risk-free interest rates | 1.46 | % | 1.04 | % | 2.02 | % | |||||||
Weighted average expected option lives (in years) | 6.25 | 6.25 | 6.25 | ||||||||||
Weighted average expected volatility | 35.95 | % | 37.53 | % | 36.82 | % | |||||||
Weighted average expected dividend yield | 3.85 | % | 3.94 | % | 3.98 | % | |||||||
Information with respect to stock options under the Plan for the years ended December 31, 2013, 2012, and 2011 are as follows: | |||||||||||||
Shares | Weighted-Average Exercise Price | Aggregate Intrinsic Value (in millions) | |||||||||||
Per Share | |||||||||||||
Options outstanding, January 1, 2011 | 17,115,789 | $ | 28.32 | $ | 18 | ||||||||
Exercised | (444,368 | ) | $ | 14.71 | |||||||||
Granted | 1,888,017 | $ | 18.77 | ||||||||||
Expired | (655,748 | ) | $ | 16.4 | |||||||||
Forfeited | (793,098 | ) | $ | 23.74 | |||||||||
Options outstanding, December 31, 2011 | 17,110,592 | $ | 28.14 | $ | 8 | ||||||||
Exercised | (1,495,432 | ) | $ | 19.84 | |||||||||
Granted | 1,522,450 | $ | 18.78 | ||||||||||
Forfeited | (579,613 | ) | $ | 28.73 | |||||||||
Options outstanding, December 31, 2012 | 16,557,997 | $ | 28.42 | $ | 14.9 | ||||||||
Exercised | (1,636,300 | ) | $ | 23.15 | |||||||||
Granted | 1,354,250 | $ | 21.55 | ||||||||||
Forfeited | (901,802 | ) | $ | 31.38 | |||||||||
Options outstanding, December 31, 2013 | 15,374,145 | $ | 28.79 | $ | 13.1 | ||||||||
Options exercisable (fully vested)- | |||||||||||||
31-Dec-11 | 12,459,598 | $ | 30.77 | $ | 3.9 | ||||||||
31-Dec-12 | 12,830,255 | $ | 31.57 | $ | 7.7 | ||||||||
31-Dec-13 | 12,039,439 | $ | 31.24 | $ | 8.2 | ||||||||
The exercise prices for options outstanding as of December 31, 2013, range from $11.54 to $53.14 per share. The Company estimates forfeitures based on historical data. The weighted-average remaining contractual life for options outstanding as of December 31, 2013, was 4.4 years. The weighted-average remaining contractual term of options currently exercisable as of December 31, 2013, was 5.6 years. Options to purchase 8,049,534, 8,871,495 and 5,776,270, shares of the Company’s common stock were available for issuance under the Plan at December 31, 2013, 2012 and 2011, respectively. As of December 31, 2013, the Company had 3,334,706 options expected to vest, with a weighted-average exercise price per share of $19.50 and an aggregate intrinsic value of $1.9 million. | |||||||||||||
Cash received from options exercised under the Plan was $30.2 million, $22.6 million and $6.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. The total intrinsic value of options exercised during 2013, 2012 and 2011, was $7.6 million, $7.0 million, and $1.5 million, respectively. | |||||||||||||
As of December 31, 2013, 2012 and 2011, the Company had restricted shares outstanding of 1,591,082, 1,562,912 and 832,726, respectively. | |||||||||||||
The Company recognized expense associated with its equity awards of $18.9 million, $17.9 million and $16.9 million, for the years ended December 31, 2013, 2012 and 2011, respectively. As of December 31, 2013, the Company had $28.6 million of total unrecognized compensation cost related to unvested stock compensation granted under the Plans. That cost is expected to be recognized over a weighted average period of 3.5 years. | |||||||||||||
The Company, from time to time, repurchases shares of its common stock in amounts that offset new issuances of common shares in connection with the exercise of stock options or the issuance of restricted stock awards. These repurchases may occur in open market purchases, privately negotiated transactions or otherwise, subject to prevailing market conditions, the Company’s liquidity requirements, contractual restrictions and other factors. The Company did not repurchase shares during 2013. During 2012, the Company repurchased 1.6 million shares of the Company’s common stock for $30.9 million, of which $22.6 million was provided to the Company from options exercised. During 2011, the Company repurchased 333,998 shares of the Company’s common stock for $6.0 million, of which $4.9 million was provided to the Company from options exercised. | |||||||||||||
The Company maintains a 401(k) retirement plan covering substantially all officers and employees, which permits participants to defer up to the maximum allowable amount determined by the Internal Revenue Service of their eligible compensation. This deferred compensation, together with Company matching contributions, which generally equal employee deferrals up to a maximum of 5% of their eligible compensation (capped at $250,000), is fully vested and funded as of December 31, 2013. The Company’s contributions to the plan were $2.1 million, $2.1 million, and $1.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The Company recognized severance costs associated with employee terminations during the years ended December 31, 2013, 2012 and 2011 of $4.3 million, $5.8 million and $1.7 million, respectively. The 2012 expense includes $2.5 million of severance costs related to the departure of an executive officer during January 2012. |
Note_21_Income_Taxes
Note 21 - Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||||||||||||||
21. Income Taxes: | |||||||||||||||||||||||||
The Company elected to qualify as a REIT in accordance with the Code commencing with its taxable year which began January 1, 1992. To qualify as a REIT, the Company must meet several organizational and operational requirements, including a requirement that it currently distribute at least 90% of its adjusted REIT taxable income to its stockholders. Management intends to adhere to these requirements and maintain the Company’s REIT status. As a REIT, the Company generally will not be subject to corporate federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income. If the Company failed to qualify as a REIT in any taxable year, it would be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be permitted to elect REIT status for four subsequent taxable years. Even if the Company qualifies for taxation as a REIT, the Company is subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed taxable income. In addition, taxable income from non-REIT activities managed through taxable REIT subsidiaries is subject to federal, state and local income taxes. The Company is also subject to local taxes on certain Non-U.S. investments. | |||||||||||||||||||||||||
Reconciliation between GAAP Net Income and Federal Taxable Income: | |||||||||||||||||||||||||
The following table reconciles GAAP net income to taxable income for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(Estimated) | (Actual) | (Actual) | |||||||||||||||||||||||
GAAP net income attributable to the Company | $ | 236,281 | $ | 266,073 | $ | 169,051 | |||||||||||||||||||
Less: GAAP net income of taxable REIT subsidiaries | (5,950 | ) | (5,249 | ) | (19,572 | ) | |||||||||||||||||||
GAAP net income from REIT operations (a) | 230,331 | 260,824 | 149,479 | ||||||||||||||||||||||
Net book depreciation in excess of tax depreciation | 31,678 | 37,492 | 30,603 | ||||||||||||||||||||||
Deferred/prepaid/above and below market rents, net | (11,731 | ) | (16,050 | ) | (16,463 | ) | |||||||||||||||||||
Book/tax differences from non-qualified stock options | (255 | ) | 1,774 | 9,879 | |||||||||||||||||||||
Book/tax differences from investments in real estate joint ventures | 42,724 | 44,886 | 52,564 | ||||||||||||||||||||||
Book/tax difference on sale of property | (48,296 | ) | (77,853 | ) | 1,811 | ||||||||||||||||||||
Foreign income tax from Mexico capital gains | (42,641 | ) | - | - | |||||||||||||||||||||
Book adjustment to property carrying values and marketable equity securities | 87,218 | 2,656 | 8,721 | ||||||||||||||||||||||
Taxable currency exchange (loss)/gain, net | (27,155 | ) | (2,620 | ) | 6,502 | ||||||||||||||||||||
Book/tax differences on capitalized costs | 4,616 | (7,205 | ) | 3,228 | |||||||||||||||||||||
Dividends from taxable REIT subsidiaries | 698 | 2,304 | 15,969 | ||||||||||||||||||||||
Other book/tax differences, net | (4,544 | ) | (3,416 | ) | 1,016 | ||||||||||||||||||||
Adjusted REIT taxable income | $ | 262,643 | $ | 242,792 | $ | 263,309 | |||||||||||||||||||
Certain amounts in the prior periods have been reclassified to conform to the current year presentation, in the table above. | |||||||||||||||||||||||||
(a) All adjustments to "GAAP net income from REIT operations" are net of amounts attributable to noncontrolling interest and taxable REIT subsidiaries. | |||||||||||||||||||||||||
Cash Dividends Paid and Dividends Paid Deductions (in thousands): | |||||||||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011 cash dividends paid exceeded the dividends paid deduction and amounted to $400,354, $382,722, and $353,764, respectively. | |||||||||||||||||||||||||
Characterization of Distributions: | |||||||||||||||||||||||||
The following characterizes distributions paid for the years ended December 31, 2013, 2012 and 2011, (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Preferred F Dividends | |||||||||||||||||||||||||
Ordinary income | $ | - | -% | $ | 9,116 | 94% | $ | 11,638 | 100% | ||||||||||||||||
Capital gain | - | -% | 582 | 6% | - | -% | |||||||||||||||||||
$ | - | -% | $ | 9,698 | 100% | $ | 11,638 | 100% | |||||||||||||||||
Preferred G Dividends | |||||||||||||||||||||||||
Ordinary income | $ | - | -% | $ | 33,046 | 94% | $ | 35,650 | 100% | ||||||||||||||||
Capital gain | - | -% | 2,109 | 6% | - | -% | |||||||||||||||||||
$ | - | -% | $ | 35,155 | 100% | $ | 35,650 | 100% | |||||||||||||||||
Preferred H Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 8,694 | 72% | $ | 11,351 | 94% | $ | 13,584 | 100% | ||||||||||||||||
Capital gain | 3,381 | 28% | 725 | 6% | - | -% | |||||||||||||||||||
$ | 12,075 | 100% | $ | 12,076 | 100% | $ | 13,584 | 100% | |||||||||||||||||
Preferred I Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 17,280 | 72% | $ | 12,847 | 94% | $ | - | -% | ||||||||||||||||
Capital gain | 6,720 | 28% | 820 | 6% | - | -% | |||||||||||||||||||
$ | 24,000 | 100% | $ | 13,667 | 100% | $ | - | -% | |||||||||||||||||
Preferred J Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 8,910 | 72% | $ | 2,585 | 94% | $ | - | -% | ||||||||||||||||
Capital gain | 3,465 | 28% | 165 | 6% | - | -% | |||||||||||||||||||
$ | 12,375 | 100% | $ | 2,750 | 100% | $ | - | -% | |||||||||||||||||
Preferred K Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 6,064 | 72% | $ | - | -% | $ | - | -% | ||||||||||||||||
Capital gain | 2,358 | 28% | - | -% | - | -% | |||||||||||||||||||
$ | 8,422 | 100% | $ | - | -% | $ | - | -% | |||||||||||||||||
Common Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 158,001 | 46% | $ | 222,751 | 72% | $ | 208,832 | 71% | ||||||||||||||||
Capital Gain | 61,827 | 18% | 15,469 | 5% | - | -% | |||||||||||||||||||
Return of capital | 123,654 | 36% | 71,156 | 23% | 84,060 | 29% | |||||||||||||||||||
$ | 343,482 | 100% | $ | 309,376 | 100% | $ | 292,892 | 100% | |||||||||||||||||
Total dividends distributed | $ | 400,354 | $ | 382,722 | $ | 353,764 | |||||||||||||||||||
Taxable REIT Subsidiaries (“TRS”) and Taxable Entities: | |||||||||||||||||||||||||
The Company is subject to federal, state and local income taxes on income reported through its TRS activities, which include wholly owned subsidiaries of the Company. The Company’s TRS consists of Kimco Realty Services ("KRS"), which due to a merger on April 1, 2013 includes FNC Realty Corporation (“FNC”), and the consolidated entity, Blue Ridge Real Estate Company/Big Boulder Corporation. On April 2, 2013, the Company contributed its interest in FNC to KRS and KRS acquired all of the outstanding stock of FNC in a reverse cash merger. The Company is also subject to local non-U.S. taxes on certain investments located outside the U.S. | |||||||||||||||||||||||||
Dividends paid to the Company from its subsidiaries and joint ventures in Canada, Mexico and Brazil are generally not subject to withholding taxes under the applicable tax treaty with the United States. Chile and Peru impose a 10% and 4.1% withholding tax, respectively, on dividend distributions. Although Brazil levies a 0.38% transaction tax on return of capital distributions, the Company as of December 31, 2013 no longer owns assets located in Brazil. During 2013, less than $0.1 million of withholding and transaction taxes were withheld from distributions related to foreign activities. | |||||||||||||||||||||||||
Income taxes have been provided for on the asset and liability method as required by the FASB’s Income Tax guidance. Under the asset and liability method, deferred income taxes are recognized for the temporary differences between the financial reporting basis and the tax basis of taxable assets and liabilities. | |||||||||||||||||||||||||
The Company’s pre-tax book income/(loss) and (provision)/benefit for income taxes relating to the Company’s TRS and taxable entities which have been consolidated for accounting reporting purposes, for the years ended December 31, 2013, 2012, and 2011, are summarized as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Income/(loss) before income taxes – U.S. | $ | (4,849 | ) | $ | 8,390 | $ | 36,077 | ||||||||||||||||||
(Provision)/benefit for income taxes, net: | |||||||||||||||||||||||||
Federal : | |||||||||||||||||||||||||
Current | (1,647 | ) | (503 | ) | (2,463 | ) | |||||||||||||||||||
Deferred | 9,725 | (535 | ) | (10,635 | ) | ||||||||||||||||||||
Federal tax (provision)/benefit | 8,078 | (1,038 | ) | (13,098 | ) | ||||||||||||||||||||
State and local: | |||||||||||||||||||||||||
Current | 1,159 | (1,543 | ) | (1,343 | ) | ||||||||||||||||||||
Deferred | 1,562 | (560 | ) | (2,064 | ) | ||||||||||||||||||||
State tax (provision)/benefit | 2,721 | (2,103 | ) | (3,407 | ) | ||||||||||||||||||||
Total tax (provision)/benefit – U.S. | 10,799 | (3,141 | ) | (16,505 | ) | ||||||||||||||||||||
Net income from U.S. taxable REIT subsidiaries | $ | 5,950 | $ | 5,249 | $ | 19,572 | |||||||||||||||||||
Income before taxes – Non-U.S. | $ | 188,215 | $ | 33,842 | $ | 63,154 | |||||||||||||||||||
(Provision)/benefit for Non-U.S. income taxes: | |||||||||||||||||||||||||
Current | $ | (30,102 | ) | $ | 5,790 | $ | (4,484 | ) | |||||||||||||||||
Deferred | 2,045 | 1,239 | 2,784 | ||||||||||||||||||||||
Non-U.S. tax provision | $ | (28,057 | ) | $ | 7,029 | $ | (1,700 | ) | |||||||||||||||||
The Company’s deferred tax assets and liabilities at December 31, 2013 and 2012, were as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Tax/GAAP basis differences | $ | 50,133 | $ | 68,623 | |||||||||||||||||||||
Net operating losses | 72,716 | 43,483 | |||||||||||||||||||||||
Related party deferred losses | 6,214 | 6,214 | |||||||||||||||||||||||
Tax credit carryforwards | 3,773 | 3,815 | |||||||||||||||||||||||
Capital loss carryforwards | 3,867 | 647 | |||||||||||||||||||||||
Charitable contribution carryforwards | - | 3 | |||||||||||||||||||||||
Non-U.S. tax/GAAP basis differences | 50,920 | 62,548 | |||||||||||||||||||||||
Valuation allowance – U.S. | (25,045 | ) | (33,783 | ) | |||||||||||||||||||||
Valuation allowance – Non-U.S. | (38,667 | ) | (38,129 | ) | |||||||||||||||||||||
Total deferred tax assets | 123,911 | 113,421 | |||||||||||||||||||||||
Deferred tax liabilities – U.S. | (21,302 | ) | (9,933 | ) | |||||||||||||||||||||
Deferred tax liabilities – Non-U.S. | (11,367 | ) | (13,263 | ) | |||||||||||||||||||||
Net deferred tax assets | $ | 91,242 | $ | 90,225 | |||||||||||||||||||||
As of December 31, 2013, the Company had net deferred tax assets of $91.2 million comprised of (i) $28.8 million relating to the difference between the basis of accounting for federal and state income tax reporting and GAAP reporting for real estate assets, joint ventures, and other investments, net of $21.3 million of deferred tax liabilities, (ii) $30.1 million and $17.5 million for the tax effect of net operating loss carryovers within KRS and FNC, respectively, net of a valuation allowance within FNC of $25.0 million, (iii) $6.2 million for losses deferred for federal and state income tax purposes for transactions with related parties, (iv) $3.8 million for tax credit carryovers, (v) $3.9 million for capital loss carryovers, and (vi) $0.9 million of deferred tax assets related to its investments in Canada and Latin America, net of a valuation allowance of $38.7 million and deferred tax liabilities of $11.4 million. General business tax credit carryovers of $2.5 million within KRS expire during taxable years from 2027 through 2032, and alternative minimum tax credit carryovers of $1.3 million do not expire. | |||||||||||||||||||||||||
The major differences between GAAP basis of accounting and the basis of accounting used for federal and state income tax reporting consist of impairment charges recorded for GAAP, but not recognized for tax purposes, depreciation and amortization, rental revenue recognized on the straight line method for GAAP, reserves for doubtful accounts, and the period in which certain gains were recognized for tax purposes, but not yet recognized under GAAP. The Company had foreign net deferred tax assets of $0.9 million, related to its operations in Canada and Latin America, which consists primarily of differences between the GAAP book basis and the basis of accounting applicable to the jurisdictions in which the Company is subject to tax. | |||||||||||||||||||||||||
Deferred tax assets and deferred tax liabilities are included in the caption Other assets and Other liabilities on the accompanying Consolidated Balance Sheets at December 31, 2013 and 2012. Operating losses and the valuation allowance are related primarily to the Company’s consolidation of its taxable REIT subsidiaries for accounting and reporting purposes. For the year ended December 31, 2013, KRS produced $72.6 million of net operating loss carryovers, which expire from 2030 to 2033. For the year ended December 31, 2012, KRS produced $9.5 million of taxable income and utilized $9.5 million of its $22.1 million net operating loss carryovers. At December 31, 2013 and 2012, FNC had $106.3 million and $101.3 million, respectively, of net operating loss carryovers that expire from 2021 through 2023. | |||||||||||||||||||||||||
During 2013, the Company determined that a reduction of $8.7 million of the valuation allowance against FNC’s deferred tax assets was deemed appropriate based on expected future taxable income. The Company maintained a valuation allowance of $25.0 million within FNC to reduce the deferred tax asset of $42.5 million related to net operating loss carryovers to the amount the Company determined is more likely than not realizable. The Company analyzed projected taxable income and the expected utilization of FNC’s remaining net operating loss carryovers and determined a partial valuation allowance was appropriate. | |||||||||||||||||||||||||
The Company’s investments in Latin America are made through individual entities which are subject to local taxes. The Company assesses each entity to determine if deferred tax assets are more likely than not realizable. This assessment primarily includes an analysis of cumulative earnings and the determination of future earnings to the extent necessary to fully realize the individual deferred tax asset. Based on this analysis the Company has determined that a full valuation allowance is required for entities which have a three-year cumulative book loss and for which future earnings are not readily determinable. In addition, the Company has determined that no valuation allowance is needed for entities that have three-years of cumulative book income and future earnings are anticipated to be sufficient to more likely than not realize their deferred tax assets. At December 31, 2013, the Company had total deferred tax assets of $43.7 million relating to its Latin American investments with an aggregate valuation allowance of $38.7 million. | |||||||||||||||||||||||||
The Company’s deferred tax assets in Canada result principally from depreciation deducted under GAAP that exceed capital cost allowances claimed under Canadian tax rules. The deferred tax asset will naturally reverse upon disposition as tax basis will be greater than the basis of the assets under generally accepted accounting principles. | |||||||||||||||||||||||||
As of December 31, 2013, the Company determined that no valuation allowance was needed against a $71.7 million net deferred tax asset within KRS. The Company based its determination on an analysis of both positive evidence and negative evidence using its judgment as to the relative weight of each. The Company believes, when evaluating KRS’s deferred tax assets, special consideration should be given to the unique relationship between the Company as a REIT and KRS as a taxable REIT subsidiary. This relationship exists primarily to protect the REIT’s qualification under the Code by permitting, within certain limits, the REIT to engage in certain business activities in which the REIT cannot directly participate. As such, the REIT controls which and when investments are held in, or distributed or sold from, KRS. This relationship distinguishes a REIT and taxable REIT subsidiary from an enterprise that operates as a single, consolidated corporate taxpayer. The Company will continue through this structure to operate certain business activities in KRS. | |||||||||||||||||||||||||
The Company’s analysis of KRS’s ability to utilize its deferred tax assets includes an estimate of future projected income. To determine future projected income, the Company scheduled KRS’s pre-tax book income and taxable income over a twenty year period taking into account its continuing operations (“Core Earnings”). Core Earnings consist of estimated net operating income for properties currently in service and generating rental income. Major lease turnover is not expected in these properties as these properties were generally constructed and leased within the past six years. The Company also included known future events in its projected income forecast. In addition, the Company can employ additional strategies to realize KRS’s deferred tax assets including transferring its property management business or selling certain built-in gain assets. | |||||||||||||||||||||||||
The Company’s projection of KRS’s future taxable income over twenty years, utilizing the assumptions above with respect to Core Earnings, net of related expenses, generates sufficient taxable income to absorb a reversal of the Company's deductible temporary differences, including net operating loss carryovers. Based on this analysis, the Company concluded it is more likely than not that KRS’s net deferred tax asset of $71.7 million (excluding net deferred tax assets of FNC discussed above) will be realized and therefore, no valuation allowance is needed at December 31, 2013. If future income projections do not occur as forecasted or the Company incurs additional impairment losses in excess of the amount Core Earnings can absorb, the Company will reconsider the need for a valuation allowance. | |||||||||||||||||||||||||
Provision/(benefit) differ from the amount computed by applying the statutory federal income tax rate to taxable income before income taxes were as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Federal (benefit)/provision at statutory tax rate (35%) | $ | (1,697 | ) | $ | 2,936 | $ | 12,627 | ||||||||||||||||||
State and local (benefit)/provision, net of federal benefit | (205 | ) | 230 | 1,683 | |||||||||||||||||||||
Acquisition of FNC | (9,126 | ) | - | - | |||||||||||||||||||||
Other | 229 | (25 | ) | 2,195 | |||||||||||||||||||||
Total tax (benefit)/provision – U.S. | $ | (10,799 | ) | $ | 3,141 | $ | 16,505 | ||||||||||||||||||
Uncertain Tax Positions: | |||||||||||||||||||||||||
The Company is subject to income tax in certain jurisdictions outside the U.S., principally Canada and Mexico. The statute of limitations on assessment of tax varies from three to seven years depending on the jurisdiction and tax issue. Tax returns filed in each jurisdiction are subject to examination by local tax authorities. The Company is currently under audit by the Canadian Revenue Agency, Mexican Tax Authority and the U.S. Internal Revenue Service (“IRS”). In October 2011, the IRS issued a notice of proposed adjustment, which proposes pursuant to Section 482 of the Code, to disallow a capital loss claimed by KRS on the disposition of common shares of Valad Property Ltd., an Australian publicly listed company. Because the adjustment is being made pursuant to Section 482 of the Code, the IRS may assert a 100 percent “penalty” tax pursuant to Section 857(b)(7) of the Code in lieu of disallowing the capital loss deduction. The notice of proposed adjustment indicates the IRS’ intention to impose the 100 percent “penalty” tax on the Company in the amount of $40.9 million and disallowing the capital loss claimed by KRS. The Company strongly disagrees with the IRS’ position on the application of Section 482 of the Code to the disposition of the shares, the imposition of the 100 percent “penalty” tax and the simultaneous assertion of the penalty tax and disallowance of the capital loss deduction. The Company received a Notice of Proposed Assessment and filed a written protest and requested an IRS Appeals Office conference, which has yet to be scheduled. The Company intends to vigorously defend its position in this matter and believes it will prevail. | |||||||||||||||||||||||||
Resolutions of these audits are not expected to have a material effect on the Company’s financial statements. As was discussed in Footnote 1 regarding new accounting pronouncements, the Company early adopted ASU 2013-11 prospectively and reclassified a portion of its reserve for uncertain tax positions. The reserve for uncertain tax positions included amounts related to the Company’s Canadian operations. The Company has unrecognized tax benefits reported as deferred tax assets and are available to settle adjustments made with respect to the Company’s uncertain tax positions in Canada. The Company reduced its reserve for uncertain tax positions by $12.3 million associated with its Canadian operations and reduced its deferred tax assets in accordance with ASU 2013-11. The Company does not believe that the total amount of unrecognized tax benefits as of December 31, 2013, will significantly increase or decrease within the next 12 months. | |||||||||||||||||||||||||
The liability for uncertain tax benefits principally consists of estimated foreign, federal and state income tax liabilities in years for which the statute of limitations is open. Open years range from 2007 through 2013 and vary by jurisdiction and issue. The aggregate changes in the balance of unrecognized tax benefits for the years ended December 31, 2013 and 2012 were as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Balance, beginning of year | $ | 16,890 | $ | 16,901 | |||||||||||||||||||||
Increases for tax positions related to current year | 15 | 3,079 | |||||||||||||||||||||||
Reductions due to lapsed statute of limitations | - | (3,090 | ) | ||||||||||||||||||||||
Reduction due to adoption of ASU 2013-11(a) | (12,315 | ) | - | ||||||||||||||||||||||
Balance, end of year | $ | 4,590 | $ | 16,890 | |||||||||||||||||||||
(a) This amount was reclassified against the related deferred tax asset relating to the Company’s early adoption of ASU 2013-11 as discussed above. |
Note_22_Accumulated_Other_Comp
Note 22 - Accumulated Other Comprehensive Income ("AOCI") | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accumulated Other Comprehensive Income Loss Disclosure [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Income Loss Disclosure [Text Block] | ' | ||||||||||||
22. Accumulated Other Comprehensive Income | |||||||||||||
The following table displays the change in the components of AOCI for the year ended December 31, 2013: | |||||||||||||
Foreign Currency Translation Adjustments | Unrealized Gains on Available-for-Sale Investments | Total | |||||||||||
Balance as of December 31, 2012 | $ | (85,404 | ) | $ | 19,222 | $ | (66,182 | ) | |||||
Other comprehensive income before reclassifications | (10,668 | ) | 16,205 | 5,537 | |||||||||
Amounts reclassified from AOCI | 5,095 | (a) | (9,432 | ) | (b) | (4,337 | ) | ||||||
Net current-period other comprehensive income | (5,573 | ) | 6,773 | 1,200 | |||||||||
Balance as of December 31, 2013 | $ | (90,977 | ) | $ | 25,995 | $ | (64,982 | ) | |||||
(a) Amounts were reclassified to Impairment/loss on operating properties sold, net of tax, within Discontinued operations on the Company’s Consolidated Statements of Income, as a result of the full liquidation of the Company’s investment in Brazil. | |||||||||||||
(b) Amounts were reclassified to Interest, dividends and other investment income on the Company’s Consolidated Statements of Income. | |||||||||||||
At December 31, 2013, the Company had a net $91.0 million, after noncontrolling interests of $5.6 million, of unrealized cumulative translation adjustment (“CTA”) losses relating to its investments in foreign entities. The CTA is comprised of $23.7 million of unrealized gains relating to its Canadian investments and $114.7 million of unrealized losses relating to its Latin American investments, $106.9 million of which is related to Mexico. CTA results from currency fluctuations between local currency and the U.S. dollar during the period in which the Company held its investment. CTA amounts are subject to future changes resulting from ongoing fluctuations in the respective foreign currency exchange rates. Under U.S. GAAP, the Company is required to release CTA balances into earnings when the Company has substantially liquidated its investment in a foreign entity. During 2013, the Company began selling properties within its Latin American portfolio. The Company may, in the near term, substantially liquidate all of its investments in this portfolio which will require the then unrealized loss on foreign currency translation to be recognized as a charge against earnings. |
Note_23_Supplemental_Financial
Note 23 - Supplemental Financial Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
23. Supplemental Financial Information: | |||||||||||||||||
The following represents the results of income, expressed in thousands except per share amounts, for each quarter during the years 2013 and 2012: | |||||||||||||||||
2013 (Unaudited) | |||||||||||||||||
Mar. 31 | 30-Jun | Sept. 30 | Dec. 31 | ||||||||||||||
Revenues from rental properties (1) | $ | 220,558 | $ | 225,207 | $ | 226,536 | $ | 238,055 | |||||||||
Net income attributable to the Company | $ | 67,770 | $ | 51,139 | $ | 55,763 | $ | 61,609 | |||||||||
Net income per common share: | |||||||||||||||||
Basic | $ | 0.13 | $ | 0.09 | $ | 0.1 | $ | 0.11 | |||||||||
Diluted | $ | 0.13 | $ | 0.09 | $ | 0.1 | $ | 0.11 | |||||||||
2012 (Unaudited) | |||||||||||||||||
Mar. 31 | 30-Jun | Sept. 30 | Dec. 31 | ||||||||||||||
Revenues from rental properties (1) | $ | 203,208 | $ | 208,648 | $ | 208,130 | $ | 216,895 | |||||||||
Net income attributable to the Company | $ | 53,638 | $ | 69,112 | $ | 54,941 | $ | 88,382 | |||||||||
Net income per common share: | |||||||||||||||||
Basic | $ | 0.09 | $ | 0.12 | $ | 0.07 | $ | 0.14 | |||||||||
Diluted | $ | 0.09 | $ | 0.12 | $ | 0.07 | $ | 0.14 | |||||||||
(1) All periods have been adjusted to reflect the impact of operating properties sold during 2013 and 2012 and properties classified as held-for-sale as of December 31, 2013, which are reflected in the caption Discontinued operations on the accompanying Consolidated Statements of Income. | |||||||||||||||||
Accounts and notes receivable in the accompanying Consolidated Balance Sheets are net of estimated unrecoverable amounts of $10.8 million and $16.4 million of billed accounts receivable at December 31, 2013 and 2012, respectively. Additionally, Accounts and notes receivable in the accompanying Consolidated Balance Sheets are net of estimated unrecoverable amounts of $23.4 million and $22.8 million of straight-line rent receivable at December 31, 2013 and 2012, respectively. |
Note_24_Pro_Forma_Financial_In
Note 24 - Pro Forma Financial Information (Unaudited) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Pro Forma Financial Information Disclosure [Abstract] | ' | ||||||||
Pro Forma Financial Information Disclosure [Text Block] | ' | ||||||||
24. Pro Forma Financial Information (Unaudited): | |||||||||
As discussed in Notes 3, 4 and 5, the Company and certain of its subsidiaries acquired and disposed of interests in certain operating properties during 2013. The pro forma financial information set forth below is based upon the Company's historical Consolidated Statements of Income for the years ended December 31, 2013 and 2012, adjusted to give effect to these transactions at the beginning of 2012 and 2011, respectively. | |||||||||
The pro forma financial information is presented for informational purposes only and may not be indicative of what actual results of income would have been had the transactions occurred at the beginning of 2012, nor does it purport to represent the results of income for future periods. (Amounts presented in millions, except per share figures.) | |||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
Revenues from rental properties | $ | 938.8 | $ | 914 | |||||
Net income | $ | 293.6 | $ | 240.4 | |||||
Net income available to the Company’s common shareholders | $ | 230.1 | $ | 131.5 | |||||
Net income attributable to the Company’s common shareholders per common share: | |||||||||
Basic | $ | 0.56 | $ | 0.32 | |||||
Diluted | $ | 0.56 | $ | 0.32 | |||||
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||||||||||
Balance at beginning of period | Charged to expenses | Adjustments to valuation accounts | Deductions | Balance at end of period | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Allowance for uncollectable accounts | $ | 16,402 | $ | 3,521 | $ | - | $ | (9,152 | ) | $ | 10,771 | ||||||||||
Allowance for deferred tax asset | $ | 71,912 | $ | - | $ | (8,200 | ) | $ | - | $ | 63,712 | ||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Allowance for uncollectable accounts | $ | 18,059 | $ | 6,309 | $ | - | $ | (7,966 | ) | $ | 16,402 | ||||||||||
Allowance for deferred tax asset | $ | 66,520 | $ | - | $ | 5,392 | $ | - | $ | 71,912 | |||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Allowance for uncollectable accounts | $ | 15,712 | $ | 7,027 | $ | - | $ | (4,680 | ) | $ | 18,059 | ||||||||||
Allowance for deferred tax asset | $ | 43,596 | $ | - | $ | 22,924 | $ | - | $ | 66,520 | |||||||||||
Schedule_III_Real_Estate_and_A
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||
INITIAL COST | TOTAL COST, | ||||||||||||||||||||||||||||||||||||||||||||
LAND | BUILDING | SUBSEQUENT | LAND | BUILDING | TOTAL | ACCUMULATED DEPRECIATION | NET OF | ENCUMBRANCES | DATE OF | DATE OF | |||||||||||||||||||||||||||||||||||
& | TO ACQUISITION | & | ACCUMULATED | ACQUISITION | CONSTRUCTION | ||||||||||||||||||||||||||||||||||||||||
IMPROVEMENT | IMPROVEMENT | DEPRECIATION | (A) | (C) | |||||||||||||||||||||||||||||||||||||||||
GLENN SQUARE | 3,306,779 | - | 51,674,821 | 3,306,779 | 51,674,821 | 54,981,600 | 4,370,189 | 50,611,411 | - | 2006 | |||||||||||||||||||||||||||||||||||
THE GROVE | 18,951,763 | 6,403,809 | 28,549,447 | 15,575,865 | 38,329,154 | 53,905,019 | 3,847,084 | 50,057,935 | - | 2007 | |||||||||||||||||||||||||||||||||||
CHANDLER AUTO MALLS | 9,318,595 | - | (5,581,690 | ) | 3,383,972 | 352,934 | 3,736,905 | 16,488 | 3,720,417 | - | 2004 | ||||||||||||||||||||||||||||||||||
EL MIRAGE | 6,786,441 | 503,987 | 130,064 | 6,786,441 | 634,051 | 7,420,492 | 32,005 | 7,388,486 | - | 2008 | |||||||||||||||||||||||||||||||||||
TALAVI TOWN CENTER | 8,046,677 | 17,291,542 | (12,227 | ) | 8,046,677 | 17,279,315 | 25,325,992 | 8,896,882 | 16,429,110 | - | 2007 | ||||||||||||||||||||||||||||||||||
MESA PAVILLIONS | 6,060,018 | 35,955,005 | (492,627 | ) | 6,060,018 | 35,462,377 | 41,522,396 | 5,383,952 | 36,138,444 | - | 2009 | ||||||||||||||||||||||||||||||||||
MESA RIVERVIEW | 15,000,000 | - | 140,122,436 | 307,992 | 154,814,444 | 155,122,436 | 34,101,738 | 121,020,699 | - | 2005 | |||||||||||||||||||||||||||||||||||
MESA PAVILLIONS - SOUTH | - | 148,508 | 15,299 | - | 163,807 | 163,807 | 50,350 | 113,457 | - | 2011 | |||||||||||||||||||||||||||||||||||
METRO SQUARE | 4,101,017 | 16,410,632 | 520,771 | 4,101,017 | 16,931,403 | 21,032,420 | 6,957,858 | 14,074,561 | - | 1998 | |||||||||||||||||||||||||||||||||||
HAYDEN PLAZA NORTH | 2,015,726 | 4,126,509 | 5,013,176 | 2,015,726 | 9,139,685 | 11,155,411 | 3,297,611 | 7,857,800 | - | 1998 | |||||||||||||||||||||||||||||||||||
PHOENIX, COSTCO | 5,324,501 | 21,269,943 | 1,058,803 | 4,577,869 | 23,075,378 | 27,653,247 | 6,540,439 | 21,112,809 | - | 1998 | |||||||||||||||||||||||||||||||||||
PHOENIX | 2,450,341 | 9,802,046 | 1,279,140 | 2,450,341 | 11,081,186 | 13,531,527 | 4,704,745 | 8,826,783 | - | 1997 | |||||||||||||||||||||||||||||||||||
PINACLE PEAK- N. CANYON RANCH | 1,228,000 | 8,774,694 | 20,500 | 1,228,000 | 8,795,194 | 10,023,194 | 2,368,679 | 7,654,516 | 1,465,751 | 2009 | |||||||||||||||||||||||||||||||||||
VILLAGE CROSSROADS | 5,662,554 | 24,981,223 | 191,347 | 5,662,554 | 25,172,569 | 30,835,123 | 1,997,069 | 28,838,054 | - | 2011 | |||||||||||||||||||||||||||||||||||
NORTH VALLEY | 6,861,564 | 18,200,901 | 2,506,343 | 3,861,272 | 23,707,536 | 27,568,808 | 2,050,620 | 25,518,188 | 15,880,204 | 2011 | |||||||||||||||||||||||||||||||||||
ASANTE RETAIL CENTER | 8,702,635 | 3,405,683 | 2,865,559 | 11,039,472 | 3,934,405 | 14,973,877 | 184,842 | 14,789,035 | - | 2004 | |||||||||||||||||||||||||||||||||||
SURPRISE II | 4,138,760 | 94,572 | 1,035 | 4,138,760 | 95,607 | 4,234,367 | 4,957 | 4,229,410 | - | 2008 | |||||||||||||||||||||||||||||||||||
BELL CAMINO CENTER | 2,427,465 | 6,439,065 | 5,670 | 2,427,465 | 6,444,735 | 8,872,200 | 738,163 | 8,134,037 | - | 2012 | |||||||||||||||||||||||||||||||||||
COLLEGE PARK SHOPPING CENTER | 3,276,951 | 7,741,323 | 37,614 | 3,276,951 | 7,778,937 | 11,055,888 | 798,710 | 10,257,178 | - | 2011 | |||||||||||||||||||||||||||||||||||
ALHAMBRA, COSTCO | 4,995,639 | 19,982,557 | 386,403 | 4,995,639 | 20,368,960 | 25,364,599 | 8,225,601 | 17,138,998 | - | 1998 | |||||||||||||||||||||||||||||||||||
MADISON PLAZA | 5,874,396 | 23,476,190 | 1,348,322 | 5,874,396 | 24,824,512 | 30,698,908 | 9,621,069 | 21,077,839 | - | 1998 | |||||||||||||||||||||||||||||||||||
CHULA VISTA, COSTCO | 6,460,743 | 25,863,153 | 11,708,418 | 6,460,743 | 37,571,571 | 44,032,314 | 12,963,207 | 31,069,107 | - | 1998 | |||||||||||||||||||||||||||||||||||
CORONA HILLS, COSTCO | 13,360,965 | 53,373,453 | 6,447,588 | 13,360,965 | 59,821,041 | 73,182,006 | 24,088,642 | 49,093,365 | - | 1998 | |||||||||||||||||||||||||||||||||||
LABAND VILLAGE SC | 5,600,000 | 13,289,347 | 30,712 | 5,607,237 | 13,312,823 | 18,920,060 | 5,392,054 | 13,528,006 | 8,500,000 | 2008 | |||||||||||||||||||||||||||||||||||
CUPERTINO VILLAGE | 19,886,099 | 46,534,919 | 5,895,874 | 19,886,099 | 52,430,793 | 72,316,892 | 15,887,947 | 56,428,944 | 32,874,346 | 2006 | |||||||||||||||||||||||||||||||||||
CHICO CROSSROADS | 9,975,810 | 30,534,524 | 1,072,974 | 9,987,652 | 31,595,657 | 41,583,309 | 6,562,580 | 35,020,729 | 24,182,986 | 2008 | |||||||||||||||||||||||||||||||||||
CORONA HILLS MARKETPLACE | 9,727,446 | 24,778,390 | 271,670 | 9,727,446 | 25,050,060 | 34,777,506 | 6,812,566 | 27,964,940 | - | 2007 | |||||||||||||||||||||||||||||||||||
RIVER PARK SHOPPING CENTER | 4,324,000 | 18,018,653 | 1,136,480 | 4,324,000 | 19,155,133 | 23,479,133 | 2,516,334 | 20,962,799 | - | 2009 | |||||||||||||||||||||||||||||||||||
GOLD COUNTRY CENTER | 3,272,212 | 7,864,878 | 37,687 | 3,278,290 | 7,896,487 | 11,174,777 | 2,490,567 | 8,684,210 | 6,809,417 | 2008 | |||||||||||||||||||||||||||||||||||
LA MIRADA THEATRE CENTER | 8,816,741 | 35,259,965 | (6,599,281 | ) | 6,888,680 | 30,588,745 | 37,477,425 | 11,945,216 | 25,532,208 | - | 1998 | ||||||||||||||||||||||||||||||||||
KENNETH HAHN PLAZA | 4,114,863 | 7,660,855 | 464,750 | 4,114,863 | 8,125,606 | 12,240,469 | 2,544,322 | 9,696,146 | 6,000,000 | 2010 | |||||||||||||||||||||||||||||||||||
NOVATO FAIR S.C. | 9,259,778 | 15,599,790 | 159,789 | 9,259,778 | 15,759,579 | 25,019,357 | 3,387,210 | 21,632,146 | - | 2009 | |||||||||||||||||||||||||||||||||||
SOUTH NAPA MARKET PLACE | 1,100,000 | 22,159,086 | 6,838,973 | 1,100,000 | 28,998,059 | 30,098,059 | 12,017,348 | 18,080,711 | - | 2006 | |||||||||||||||||||||||||||||||||||
PLAZA DI NORTHRIDGE | 12,900,000 | 40,574,842 | (557,376 | ) | 12,900,000 | 40,017,466 | 52,917,466 | 12,124,327 | 40,793,139 | - | 2005 | ||||||||||||||||||||||||||||||||||
POWAY CITY CENTRE | 5,854,585 | 13,792,470 | 7,773,023 | 7,247,814 | 20,172,265 | 27,420,078 | 6,642,547 | 20,777,531 | - | 2005 | |||||||||||||||||||||||||||||||||||
REDWOOD CITY | 2,552,000 | 6,215,168 | - | 2,552,000 | 6,215,168 | 8,767,168 | 679,877 | 8,087,291 | - | 2009 | |||||||||||||||||||||||||||||||||||
TYLER STREET | 3,020,883 | 7,811,339 | 102,113 | 3,200,516 | 7,733,819 | 10,934,335 | 2,624,746 | 8,309,589 | 6,554,863 | 2008 | |||||||||||||||||||||||||||||||||||
SANTA ANA, HOME DEPOT | 4,592,364 | 18,345,257 | - | 4,592,364 | 18,345,257 | 22,937,622 | 7,418,952 | 15,518,670 | - | 1998 | |||||||||||||||||||||||||||||||||||
SAN/DIEGO CARMEL MOUNTAIN | 5,322,600 | 8,873,991 | 28,508 | 5,322,600 | 8,902,499 | 14,225,099 | 1,603,403 | 12,621,695 | - | 2009 | |||||||||||||||||||||||||||||||||||
FULTON MARKET PLACE | 2,966,018 | 6,920,710 | 927,435 | 2,966,018 | 7,848,145 | 10,814,163 | 2,533,784 | 8,280,379 | - | 2005 | |||||||||||||||||||||||||||||||||||
MARIGOLD SC | 15,300,000 | 25,563,978 | 3,406,660 | 15,300,000 | 28,970,638 | 44,270,638 | 13,301,671 | 30,968,968 | - | 2005 | |||||||||||||||||||||||||||||||||||
CANYON SQUARE PLAZA | 2,648,112 | 13,876,095 | 27,200 | 2,648,112 | 13,903,294 | 16,551,406 | 619,876 | 15,931,530 | 14,286,874 | 2013 | |||||||||||||||||||||||||||||||||||
BLACK MOUNTAIN VILLAGE | 4,678,015 | 11,913,344 | 130,330 | 4,678,015 | 12,043,674 | 16,721,688 | 3,478,764 | 13,242,924 | - | 2007 | |||||||||||||||||||||||||||||||||||
CITY HEIGHTS | 10,687,472 | 28,324,896 | (942,917 | ) | 13,908,563 | 24,160,888 | 38,069,451 | 762,646 | 37,306,805 | 21,347,022 | 2012 | ||||||||||||||||||||||||||||||||||
SANTEE TROLLEY SQUARE | 40,208,683 | 62,204,580 | - | 40,208,683 | 62,204,580 | 102,413,263 | 4,532,733 | 97,880,530 | - | 2013 | |||||||||||||||||||||||||||||||||||
TRUCKEE CROSSROADS | 2,140,000 | 8,255,753 | 925,899 | 2,140,000 | 9,181,653 | 11,321,653 | 4,911,520 | 6,410,133 | 3,052,866 | 2006 | |||||||||||||||||||||||||||||||||||
WESTLAKE SHOPPING CENTER | 16,174,307 | 64,818,562 | 96,519,331 | 16,174,307 | 161,337,893 | 177,512,199 | 34,685,238 | 142,826,962 | - | 2002 | |||||||||||||||||||||||||||||||||||
SAVI RANCH | 7,295,646 | 29,752,511 | (0 | ) | 7,295,646 | 29,752,511 | 37,048,157 | 1,606,492 | 35,441,665 | - | 2012 | ||||||||||||||||||||||||||||||||||
VILLAGE ON THE PARK | 2,194,463 | 8,885,987 | 5,619,852 | 2,194,463 | 14,505,839 | 16,700,302 | 4,859,184 | 11,841,118 | - | 1998 | |||||||||||||||||||||||||||||||||||
AURORA QUINCY | 1,148,317 | 4,608,249 | 988,825 | 1,148,317 | 5,597,074 | 6,745,391 | 2,202,945 | 4,542,447 | - | 1998 | |||||||||||||||||||||||||||||||||||
AURORA EAST BANK | 1,500,568 | 6,180,103 | 779,217 | 1,500,568 | 6,959,320 | 8,459,888 | 2,980,655 | 5,479,233 | - | 1998 | |||||||||||||||||||||||||||||||||||
NORTHRIDGE SHOPPING CENTER | 4,932,690 | 16,496,175 | - | 4,932,690 | 16,496,175 | 21,428,865 | 140,769 | 21,288,097 | 12,093,500 | 2013 | |||||||||||||||||||||||||||||||||||
SPRING CREEK COLORADO | 1,423,260 | 5,718,813 | 798,280 | 1,423,260 | 6,517,092 | 7,940,353 | 2,757,381 | 5,182,972 | - | 1998 | |||||||||||||||||||||||||||||||||||
DENVER WEST 38TH STREET | 161,167 | 646,983 | - | 161,167 | 646,983 | 808,150 | 264,026 | 544,124 | - | 1998 | |||||||||||||||||||||||||||||||||||
ENGLEWOOD PHAR MOR | 805,837 | 3,232,650 | 276,227 | 805,837 | 3,508,877 | 4,314,714 | 1,469,180 | 2,845,534 | - | 1998 | |||||||||||||||||||||||||||||||||||
FORT COLLINS S.C. | 1,253,497 | 7,625,278 | 1,599,608 | 1,253,497 | 9,224,886 | 10,478,382 | 2,941,824 | 7,536,558 | - | 2000 | |||||||||||||||||||||||||||||||||||
GREELEY COMMONS | 3,313,095 | 20,069,559 | 62,366 | 3,313,095 | 20,131,925 | 23,445,020 | 1,212,213 | 22,232,807 | - | 2012 | |||||||||||||||||||||||||||||||||||
HIGHLANDS RANCH VILLAGE S.C. | 8,135,427 | 21,579,936 | (932,293 | ) | 5,337,081 | 23,445,989 | 28,783,070 | 1,560,382 | 27,222,688 | 20,300,535 | 2011 | ||||||||||||||||||||||||||||||||||
VILLAGE CENTER WEST | 2,010,519 | 8,361,084 | 6,815 | 2,010,519 | 8,367,899 | 10,378,418 | 675,979 | 9,702,440 | 6,047,869 | 2011 | |||||||||||||||||||||||||||||||||||
HIGHLANDS RANCH II | 3,514,837 | 11,755,916 | - | 3,514,837 | 11,755,916 | 15,270,753 | 322,265 | 14,948,488 | - | 2013 | |||||||||||||||||||||||||||||||||||
HERITAGE WEST | 1,526,576 | 6,124,074 | 774,090 | 1,526,576 | 6,898,164 | 8,424,740 | 2,662,424 | 5,762,316 | - | 1998 | |||||||||||||||||||||||||||||||||||
MARKET AT SOUTHPARK | 9,782,769 | 20,779,522 | (40,664 | ) | 9,782,769 | 20,738,858 | 30,521,627 | 1,835,409 | 28,686,218 | - | 2011 | ||||||||||||||||||||||||||||||||||
WEST FARM SHOPPING CENTER | 5,805,969 | 23,348,024 | 5,883,929 | 5,805,969 | 29,231,953 | 35,037,922 | 9,661,746 | 25,376,175 | - | 1998 | |||||||||||||||||||||||||||||||||||
N.HAVEN, HOME DEPOT | 7,704,968 | 30,797,640 | 1,071,163 | 7,704,968 | 31,868,803 | 39,573,771 | 12,631,026 | 26,942,745 | - | 1998 | |||||||||||||||||||||||||||||||||||
WATERBURY | 2,253,078 | 9,017,012 | 653,224 | 2,253,078 | 9,670,236 | 11,923,314 | 4,884,227 | 7,039,087 | - | 1993 | |||||||||||||||||||||||||||||||||||
WILTON RIVER PARK SHOPPING CTR | 7,154,585 | 27,509,279 | (439,148 | ) | 7,154,585 | 27,070,131 | 34,224,716 | 1,254,760 | 32,969,955 | 19,597,806 | 2012 | ||||||||||||||||||||||||||||||||||
BRIGHT HORIZONS | 1,211,748 | 4,610,610 | 9,499 | 1,211,748 | 4,620,109 | 5,831,857 | 219,625 | 5,612,232 | 1,735,472 | 2012 | |||||||||||||||||||||||||||||||||||
WILTON CAMPUS | 10,168,872 | 31,893,016 | 566,245 | 10,168,872 | 32,459,261 | 42,628,133 | 2,213,758 | 40,414,375 | 36,469,045 | 2013 | |||||||||||||||||||||||||||||||||||
DOVER | 122,741 | 66,738 | 4,011,220 | 3,024,375 | 1,176,324 | 4,200,699 | 77,491 | 4,123,208 | - | 2003 | |||||||||||||||||||||||||||||||||||
ELSMERE | - | 3,185,642 | 2,714,547 | - | 5,900,189 | 5,900,189 | 3,301,414 | 2,598,775 | - | 1979 | |||||||||||||||||||||||||||||||||||
AUBURNDALE | 751,315 | - | (326,315 | ) | 425,000 | - | 425,000 | - | 425,000 | - | 2009 | ||||||||||||||||||||||||||||||||||
BOCA RATON | 573,875 | 2,295,501 | 1,785,107 | 733,875 | 3,920,608 | 4,654,483 | 2,145,471 | 2,509,012 | - | 1992 | |||||||||||||||||||||||||||||||||||
BAYSHORE GARDENS, BRADENTON FL | 2,901,000 | 11,738,955 | 1,264,703 | 2,901,000 | 13,003,658 | 15,904,658 | 5,241,954 | 10,662,704 | - | 1998 | |||||||||||||||||||||||||||||||||||
CORAL SPRINGS | 710,000 | 2,842,907 | 3,850,001 | 710,000 | 6,692,908 | 7,402,908 | 2,904,921 | 4,497,987 | - | 1994 | |||||||||||||||||||||||||||||||||||
CORAL SPRINGS | 1,649,000 | 6,626,301 | 447,696 | 1,649,000 | 7,073,997 | 8,722,997 | 2,985,199 | 5,737,798 | - | 1997 | |||||||||||||||||||||||||||||||||||
CURLEW CROSSING S.C. | 5,315,955 | 12,529,467 | 1,844,125 | 5,315,955 | 14,373,592 | 19,689,547 | 3,959,109 | 15,730,438 | - | 2005 | |||||||||||||||||||||||||||||||||||
EAST ORLANDO | 491,676 | 1,440,000 | 4,604,015 | 1,007,882 | 5,527,809 | 6,535,691 | 2,440,458 | 4,095,233 | - | 1971 | |||||||||||||||||||||||||||||||||||
FT.LAUDERDALE/CYPRESS CREEK | 14,258,760 | 28,042,390 | 2,055,750 | 14,258,760 | 30,098,139 | 44,356,899 | 5,543,855 | 38,813,044 | - | 2009 | |||||||||||||||||||||||||||||||||||
HOMESTEAD | 150,000 | - | - | 150,000 | - | 150,000 | - | 150,000 | - | 2013 | |||||||||||||||||||||||||||||||||||
OAKWOOD BUSINESS CTR-BLDG 1 | 6,792,500 | 18,662,565 | 1,330,782 | 6,792,500 | 19,993,347 | 26,785,847 | 3,615,645 | 23,170,202 | - | 2009 | |||||||||||||||||||||||||||||||||||
SHOPPES AT AMELIA CONCOURSE | 7,600,000 | - | 8,987,554 | 1,138,216 | 15,449,338 | 16,587,554 | 1,652,430 | 14,935,123 | - | 2003 | |||||||||||||||||||||||||||||||||||
AVENUES WALKS | 26,984,546 | - | 49,446,351 | 33,225,306 | 43,205,591 | 76,430,897 | - | 76,430,897 | - | 2005 | |||||||||||||||||||||||||||||||||||
RIVERPLACE SHOPPING CTR. | 7,503,282 | 31,011,027 | (404,691 | ) | 7,200,050 | 30,909,568 | 38,109,618 | 4,933,392 | 33,176,226 | - | 2010 | ||||||||||||||||||||||||||||||||||
MERCHANTS WALK | 2,580,816 | 10,366,090 | 6,138,693 | 2,580,816 | 16,504,783 | 19,085,599 | 4,657,279 | 14,428,321 | - | 2001 | |||||||||||||||||||||||||||||||||||
LARGO | 293,686 | 792,119 | 1,620,990 | 293,686 | 2,413,109 | 2,706,795 | 2,037,435 | 669,360 | - | 1968 | |||||||||||||||||||||||||||||||||||
LEESBURG | - | 171,636 | 193,651 | - | 365,287 | 365,287 | 312,246 | 53,041 | - | 1969 | |||||||||||||||||||||||||||||||||||
LARGO EAST BAY | 2,832,296 | 11,329,185 | 2,237,056 | 2,832,296 | 13,566,241 | 16,398,537 | 8,683,264 | 7,715,272 | - | 1992 | |||||||||||||||||||||||||||||||||||
LAUDERHILL | 1,002,733 | 2,602,415 | 12,664,122 | 1,774,443 | 14,494,827 | 16,269,270 | 9,322,424 | 6,946,846 | - | 1974 | |||||||||||||||||||||||||||||||||||
INITIAL COST | TOTAL COST, | ||||||||||||||||||||||||||||||||||||||||||||
LAND | BUILDING | SUBSEQUENT | LAND | BUILDING | TOTAL | ACCUMULATED DEPRECIATION | NET OF | ENCUMBRANCES | DATE OF | DATE OF | |||||||||||||||||||||||||||||||||||
& | TO ACQUISITION | & | ACCUMULATED | ACQUISITION | CONSTRUCTION | ||||||||||||||||||||||||||||||||||||||||
IMPROVEMENT | IMPROVEMENT | DEPRECIATION | (A) | (C) | |||||||||||||||||||||||||||||||||||||||||
THE GROVES | 1,676,082 | 6,533,681 | (1,347,648 | ) | 2,606,246 | 4,255,869 | 6,862,115 | 1,309,820 | 5,552,295 | - | 2006 | ||||||||||||||||||||||||||||||||||
LAKE WALES | 601,052 | - | - | 601,052 | - | 601,052 | - | 601,052 | - | 2009 | |||||||||||||||||||||||||||||||||||
MELBOURNE | - | 1,754,000 | 2,666,332 | - | 4,420,332 | 4,420,332 | 2,992,521 | 1,427,812 | - | 1968 | |||||||||||||||||||||||||||||||||||
GROVE GATE | 365,893 | 1,049,172 | 1,207,100 | 365,893 | 2,256,272 | 2,622,165 | 1,892,172 | 729,994 | - | 1968 | |||||||||||||||||||||||||||||||||||
CHEVRON OUTPARCEL | 530,570 | 1,253,410 | - | 530,570 | 1,253,410 | 1,783,980 | 187,815 | 1,596,165 | - | 2010 | |||||||||||||||||||||||||||||||||||
NORTH MIAMI | 732,914 | 4,080,460 | 10,926,161 | 732,914 | 15,006,621 | 15,739,535 | 8,186,878 | 7,552,657 | 6,067,224 | 1985 | |||||||||||||||||||||||||||||||||||
MILLER ROAD | 1,138,082 | 4,552,327 | 4,291,936 | 1,138,082 | 8,844,263 | 9,982,345 | 5,464,317 | 4,518,028 | - | 1986 | |||||||||||||||||||||||||||||||||||
MARGATE | 2,948,530 | 11,754,120 | 7,957,087 | 2,948,530 | 19,711,207 | 22,659,737 | 8,450,959 | 14,208,778 | - | 1993 | |||||||||||||||||||||||||||||||||||
MT. DORA | 1,011,000 | 4,062,890 | 453,924 | 1,011,000 | 4,516,814 | 5,527,814 | 1,814,676 | 3,713,138 | - | 1997 | |||||||||||||||||||||||||||||||||||
KENDALE LAKES PLAZA | 18,491,461 | 28,496,001 | (2,721,449 | ) | 15,362,227 | 28,903,785 | 44,266,012 | 4,758,535 | 39,507,477 | - | 2009 | ||||||||||||||||||||||||||||||||||
PLANTATION CROSSING | 7,524,800 | - | 10,698,362 | 6,929,857 | 11,293,306 | 18,223,162 | 1,459,674 | 16,763,489 | - | 2005 | |||||||||||||||||||||||||||||||||||
MILTON, FL | 1,275,593 | - | - | 1,275,593 | - | 1,275,593 | - | 1,275,593 | - | 2007 | |||||||||||||||||||||||||||||||||||
FLAGLER PARK | 26,162,980 | 80,737,041 | 1,740,211 | 26,162,980 | 82,477,253 | 108,640,233 | 15,952,323 | 92,687,910 | 24,968,949 | 2007 | |||||||||||||||||||||||||||||||||||
PARK HILL PLAZA | 10,763,612 | 19,264,248 | 52,498 | 10,891,930 | 19,188,427 | 30,080,358 | 2,254,863 | 27,825,495 | 7,989,708 | 2011 | |||||||||||||||||||||||||||||||||||
WINN DIXIE-MIAMI | 2,989,640 | 9,410,360 | - | 2,989,640 | 9,410,360 | 12,400,000 | 18,994 | 12,381,006 | - | 2013 | |||||||||||||||||||||||||||||||||||
MARATHON SHOPPING CENTER | 2,412,929 | 8,069,450 | - | 2,412,929 | 8,069,450 | 10,482,379 | 22,953 | 10,459,426 | - | 2013 | |||||||||||||||||||||||||||||||||||
SODO S.C. | - | 68,139,271 | 7,355,768 | - | 75,495,039 | 75,495,039 | 8,758,607 | 66,736,432 | - | 2008 | |||||||||||||||||||||||||||||||||||
RENAISSANCE CENTER | 9,104,379 | 36,540,873 | 6,574,803 | 9,122,758 | 43,097,297 | 52,220,055 | 18,357,952 | 33,862,102 | - | 1998 | |||||||||||||||||||||||||||||||||||
ORLANDO | 560,800 | 2,268,112 | 3,203,429 | 580,030 | 5,452,310 | 6,032,341 | 2,333,733 | 3,698,608 | - | 1996 | |||||||||||||||||||||||||||||||||||
OCALA | 1,980,000 | 7,927,484 | 9,983,112 | 1,980,000 | 17,910,596 | 19,890,596 | 7,164,545 | 12,726,050 | - | 1997 | |||||||||||||||||||||||||||||||||||
MILLENIA PLAZA PHASE II | 7,711,000 | 20,702,992 | 470,545 | 7,698,200 | 21,186,337 | 28,884,537 | 6,338,367 | 22,546,170 | - | 2009 | |||||||||||||||||||||||||||||||||||
GRAND OAKS VILLAGE | 7,409,319 | 19,653,869 | (811,190 | ) | 5,846,339 | 20,405,659 | 26,251,998 | 1,813,565 | 24,438,433 | 6,189,665 | 2011 | ||||||||||||||||||||||||||||||||||
GONZALEZ | 1,620,203 | - | 40,689 | 954,876 | 706,016 | 1,660,892 | 78,446 | 1,582,446 | - | 2007 | |||||||||||||||||||||||||||||||||||
POMPANO BEACH | 10,516,500 | 1,134,633 | 530,900 | 10,516,500 | 1,665,533 | 12,182,033 | 29,709 | 12,152,324 | - | 2012 | |||||||||||||||||||||||||||||||||||
UNIVERSITY TOWN CENTER | 5,515,265 | 13,041,400 | 188,826 | 5,515,265 | 13,230,226 | 18,745,491 | 1,020,549 | 17,724,942 | - | 2011 | |||||||||||||||||||||||||||||||||||
PALM BEACH GARDENS | 2,764,953 | 11,059,812 | 396,704 | 2,764,953 | 11,456,516 | 14,221,469 | 884,785 | 13,336,684 | - | 2009 | |||||||||||||||||||||||||||||||||||
ST. PETERSBURG | - | 917,360 | 1,266,811 | - | 2,184,171 | 2,184,171 | 1,154,235 | 1,029,937 | - | 1968 | |||||||||||||||||||||||||||||||||||
TUTTLE BEE SARASOTA | 254,961 | 828,465 | 1,806,633 | 254,961 | 2,635,098 | 2,890,059 | 2,060,537 | 829,522 | - | 2008 | |||||||||||||||||||||||||||||||||||
SOUTH EAST SARASOTA | 1,283,400 | 5,133,544 | 3,400,091 | 1,399,525 | 8,417,510 | 9,817,035 | 5,137,174 | 4,679,862 | - | 1989 | |||||||||||||||||||||||||||||||||||
STUART | 2,109,677 | 8,415,323 | 1,725,441 | 2,109,677 | 10,140,764 | 12,250,441 | 4,845,003 | 7,405,438 | - | 1994 | |||||||||||||||||||||||||||||||||||
SOUTH MIAMI | 1,280,440 | 5,133,825 | 3,087,209 | 1,280,440 | 8,221,034 | 9,501,474 | 3,661,657 | 5,839,816 | - | 1995 | |||||||||||||||||||||||||||||||||||
WINN DIXIE-ST. AUGUSTINE | 1,543,040 | 4,856,960 | - | 1,543,040 | 4,856,960 | 6,400,000 | 9,803 | 6,390,197 | - | 2013 | |||||||||||||||||||||||||||||||||||
TAMPA | 5,220,445 | 16,884,228 | 2,599,727 | 5,220,445 | 19,483,955 | 24,704,400 | 7,517,981 | 17,186,418 | - | 1997 | |||||||||||||||||||||||||||||||||||
VILLAGE COMMONS S.C. | 2,192,331 | 8,774,158 | 2,736,462 | 2,192,331 | 11,510,619 | 13,702,951 | 4,266,457 | 9,436,494 | - | 1998 | |||||||||||||||||||||||||||||||||||
MISSION BELL SHOPPING CENTER | 5,056,426 | 11,843,119 | 8,681,467 | 5,067,033 | 20,513,979 | 25,581,013 | 5,333,203 | 20,247,810 | - | 2004 | |||||||||||||||||||||||||||||||||||
VILLAGE COMMONS S.C. | 2,026,423 | 5,106,476 | 257,096 | 2,026,423 | 5,363,572 | 7,389,995 | 540,857 | 6,849,138 | - | 2013 | |||||||||||||||||||||||||||||||||||
WINN DIXIE-TALLAHASSEE | 1,253,720 | 3,946,280 | - | 1,253,720 | 3,946,280 | 5,200,000 | 7,965 | 5,192,035 | - | 2013 | |||||||||||||||||||||||||||||||||||
WEST PALM BEACH | 550,896 | 2,298,964 | 1,426,083 | 550,896 | 3,725,047 | 4,275,943 | 1,662,525 | 2,613,418 | - | 1995 | |||||||||||||||||||||||||||||||||||
CROSS COUNTRY PLAZA | 16,510,000 | 18,264,427 | 648,216 | 16,510,000 | 18,912,643 | 35,422,643 | 3,054,065 | 32,368,578 | - | 2009 | |||||||||||||||||||||||||||||||||||
AUGUSTA | 1,482,564 | 5,928,122 | 2,203,619 | 1,482,564 | 8,131,741 | 9,614,305 | 3,593,945 | 6,020,360 | - | 1995 | |||||||||||||||||||||||||||||||||||
MARKET AT HAYNES BRIDGE | 4,880,659 | 21,549,424 | 525,203 | 4,889,863 | 22,065,423 | 26,955,286 | 4,850,693 | 22,104,593 | 15,412,434 | 2008 | |||||||||||||||||||||||||||||||||||
EMBRY VILLAGE | 18,147,054 | 33,009,514 | 202,211 | 18,160,524 | 33,198,255 | 51,358,779 | 7,678,516 | 43,680,263 | 29,624,159 | 2008 | |||||||||||||||||||||||||||||||||||
VILLAGE SHOPPES-FLOWERY BRANCH | 4,444,148 | 10,510,657 | 100,958 | 4,444,148 | 10,611,615 | 15,055,763 | 1,098,830 | 13,956,933 | - | 2011 | |||||||||||||||||||||||||||||||||||
LAWRENCEVILLE MARKET | 8,878,266 | 29,691,191 | - | 8,878,266 | 29,691,191 | 38,569,458 | - | 38,569,458 | - | 2013 | |||||||||||||||||||||||||||||||||||
FIVE FORKS CROSSING | 2,363,848 | 7,906,257 | - | 2,363,848 | 7,906,257 | 10,270,105 | 132,913 | 10,137,192 | - | 2013 | |||||||||||||||||||||||||||||||||||
SAVANNAH | 2,052,270 | 8,232,978 | 2,824,430 | 2,052,270 | 11,057,408 | 13,109,678 | 5,412,858 | 7,696,820 | - | 1993 | |||||||||||||||||||||||||||||||||||
CHATHAM PLAZA | 13,390,238 | 35,115,882 | 1,091,210 | 13,403,262 | 36,194,068 | 49,597,331 | 10,198,595 | 39,398,736 | 28,383,188 | 2008 | |||||||||||||||||||||||||||||||||||
CLIVE | 500,525 | 2,002,101 | - | 500,525 | 2,002,101 | 2,502,626 | 919,769 | 1,582,857 | - | 1996 | |||||||||||||||||||||||||||||||||||
METRO CROSSING | 3,013,647 | - | 35,650,722 | 1,514,916 | 37,149,453 | 38,664,369 | 2,985,788 | 35,678,581 | - | 2006 | |||||||||||||||||||||||||||||||||||
SOUTHDALE SHOPPING CENTER | 1,720,330 | 6,916,294 | 3,760,738 | 1,720,330 | 10,677,032 | 12,397,362 | 3,656,823 | 8,740,539 | - | 1999 | |||||||||||||||||||||||||||||||||||
DES MOINES | 500,525 | 2,559,019 | 37,079 | 500,525 | 2,596,098 | 3,096,623 | 1,167,606 | 1,929,017 | - | 1996 | |||||||||||||||||||||||||||||||||||
DUBUQUE | - | 2,152,476 | 239,217 | - | 2,391,693 | 2,391,693 | 923,005 | 1,468,688 | - | 1997 | |||||||||||||||||||||||||||||||||||
WATERLOO | 500,525 | 2,002,101 | 2,869,100 | 500,525 | 4,871,201 | 5,371,726 | 3,250,919 | 2,120,807 | - | 1996 | |||||||||||||||||||||||||||||||||||
NAMPA (HORSHAM) FUTURE DEV. | 6,501,240 | - | 10,300,062 | 9,659,164 | 7,142,138 | 16,801,302 | 403,662 | 16,397,640 | - | 2005 | |||||||||||||||||||||||||||||||||||
AURORA, N. LAKE | 2,059,908 | 9,531,721 | 308,208 | 2,059,908 | 9,839,929 | 11,899,837 | 3,882,795 | 8,017,042 | - | 1998 | |||||||||||||||||||||||||||||||||||
BLOOMINGTON | 805,521 | 2,222,353 | 4,246,390 | 805,521 | 6,468,743 | 7,274,264 | 4,302,303 | 2,971,960 | - | 1972 | |||||||||||||||||||||||||||||||||||
BELLEVILLE S.C. | - | 5,372,253 | 1,255,387 | 1,161,195 | 5,466,445 | 6,627,640 | 2,137,694 | 4,489,945 | - | 1998 | |||||||||||||||||||||||||||||||||||
BRADLEY | 500,422 | 2,001,687 | 424,877 | 500,422 | 2,426,564 | 2,926,986 | 1,087,158 | 1,839,828 | - | 1996 | |||||||||||||||||||||||||||||||||||
CALUMET CITY | 1,479,217 | 8,815,760 | 13,656,577 | 1,479,216 | 22,472,338 | 23,951,554 | 5,854,832 | 18,096,722 | - | 1997 | |||||||||||||||||||||||||||||||||||
COUNTRYSIDE | - | 4,770,671 | (4,531,252 | ) | 95,647 | 143,772 | 239,419 | 81,600 | 157,819 | - | 1997 | ||||||||||||||||||||||||||||||||||
CHICAGO | - | 2,687,046 | 871,802 | - | 3,558,848 | 3,558,848 | 1,501,984 | 2,056,863 | - | 1997 | |||||||||||||||||||||||||||||||||||
CHAMPAIGN, NEIL ST. | 230,519 | 1,285,460 | 725,493 | 230,519 | 2,010,953 | 2,241,472 | 868,425 | 1,373,047 | - | 1998 | |||||||||||||||||||||||||||||||||||
ELSTON | 1,010,374 | 5,692,212 | 498,828 | 1,010,374 | 6,191,040 | 7,201,414 | 2,262,425 | 4,938,989 | - | 1997 | |||||||||||||||||||||||||||||||||||
CRYSTAL LAKE, NW HWY | 179,964 | 1,025,811 | 564,039 | 180,269 | 1,589,545 | 1,769,814 | 527,848 | 1,241,966 | - | 1998 | |||||||||||||||||||||||||||||||||||
108 WEST GERMANIA PLACE | 2,393,894 | 7,366,681 | 152,028 | 2,393,894 | 7,518,709 | 9,912,603 | 473,379 | 9,439,223 | - | 2008 | |||||||||||||||||||||||||||||||||||
DOWNERS PARK PLAZA | 2,510,455 | 10,164,494 | 1,039,162 | 2,510,455 | 11,203,656 | 13,714,111 | 4,390,270 | 9,323,842 | - | 1999 | |||||||||||||||||||||||||||||||||||
DOWNER GROVE | 811,778 | 4,322,956 | 3,348,460 | 811,778 | 7,671,416 | 8,483,194 | 2,644,188 | 5,839,006 | - | 1997 | |||||||||||||||||||||||||||||||||||
ELGIN | 842,555 | 2,108,674 | 1,802,066 | 500,927 | 4,252,368 | 4,753,295 | 2,998,023 | 1,755,273 | - | 1972 | |||||||||||||||||||||||||||||||||||
FOREST PARK | - | 2,335,884 | 154,213 | - | 2,490,097 | 2,490,097 | 981,835 | 1,508,262 | - | 1997 | |||||||||||||||||||||||||||||||||||
FAIRVIEW HTS, BELLVILLE RD. | - | 11,866,880 | 7,936,933 | - | 19,803,813 | 19,803,813 | 5,278,481 | 14,525,331 | - | 1998 | |||||||||||||||||||||||||||||||||||
BELLEVILLE ROAD S.C..-fee | 1,900,000 | - | - | 1,900,000 | - | 1,900,000 | - | 1,900,000 | - | 2011 | |||||||||||||||||||||||||||||||||||
GENEVA | 500,422 | 12,917,712 | 33,551 | 500,422 | 12,951,263 | 13,451,685 | 5,254,145 | 8,197,540 | - | 1996 | |||||||||||||||||||||||||||||||||||
SHOPS AT KILDEER | 5,259,542 | 28,141,501 | 337,932 | 5,259,542 | 28,479,434 | 33,738,976 | 1,154,072 | 32,584,904 | 32,098,597 | 2013 | |||||||||||||||||||||||||||||||||||
LAKE ZURICH PLAZA | 1,890,319 | 2,649,381 | 63,057 | 1,890,319 | 2,712,438 | 4,602,757 | 509,091 | 4,093,666 | - | 2005 | |||||||||||||||||||||||||||||||||||
MT. PROSPECT | 1,017,345 | 6,572,176 | 4,016,735 | 1,017,345 | 10,588,911 | 11,606,256 | 4,673,716 | 6,932,540 | - | 1997 | |||||||||||||||||||||||||||||||||||
MUNDELEIN, S. LAKE | 1,127,720 | 5,826,129 | 77,350 | 1,129,634 | 5,901,565 | 7,031,199 | 2,347,752 | 4,683,447 | - | 1998 | |||||||||||||||||||||||||||||||||||
NORRIDGE | - | 2,918,315 | - | - | 2,918,315 | 2,918,315 | 1,211,645 | 1,706,670 | - | 1997 | |||||||||||||||||||||||||||||||||||
NAPERVILLE | 669,483 | 4,464,998 | 456,947 | 669,483 | 4,921,945 | 5,591,428 | 1,880,260 | 3,711,169 | - | 1997 | |||||||||||||||||||||||||||||||||||
MARKETPLACE OF OAKLAWN | - | 678,668 | 25,343 | - | 704,011 | 704,011 | 668,138 | 35,873 | - | 1998 | |||||||||||||||||||||||||||||||||||
ORLAND PARK, S. HARLEM | 476,972 | 2,764,775 | (2,694,903 | ) | 87,998 | 458,846 | 546,844 | 176,193 | 370,651 | - | 1998 | ||||||||||||||||||||||||||||||||||
OAK LAWN | 1,530,111 | 8,776,631 | 588,483 | 1,530,111 | 9,365,115 | 10,895,225 | 3,864,155 | 7,031,070 | - | 1997 | |||||||||||||||||||||||||||||||||||
OAKBROOK TERRACE | 1,527,188 | 8,679,108 | 3,298,212 | 1,527,188 | 11,977,320 | 13,504,508 | 4,590,529 | 8,913,979 | - | 1997 | |||||||||||||||||||||||||||||||||||
PEORIA | - | 5,081,290 | 2,403,560 | - | 7,484,850 | 7,484,850 | 7,474,693 | 10,157 | - | 1997 | |||||||||||||||||||||||||||||||||||
FREESTATE BOWL | 252,723 | 998,099 | (485,425 | ) | 252,723 | 512,674 | 765,396 | 123,522 | 641,875 | - | 2003 | ||||||||||||||||||||||||||||||||||
ROCKFORD CROSSING | 4,575,990 | 11,654,022 | (577,091 | ) | 4,583,005 | 11,069,916 | 15,652,921 | 2,247,380 | 13,405,540 | 9,932,882 | 2008 | ||||||||||||||||||||||||||||||||||
ROUND LAKE BEACH PLAZA | 790,129 | 1,634,148 | 587,575 | 790,129 | 2,221,723 | 3,011,852 | 353,533 | 2,658,319 | - | 2005 | |||||||||||||||||||||||||||||||||||
SKOKIE | - | 2,276,360 | 9,488,382 | 2,628,440 | 9,136,303 | 11,764,742 | 2,981,605 | 8,783,138 | - | 1997 | |||||||||||||||||||||||||||||||||||
KRC STREAMWOOD | 181,962 | 1,057,740 | 216,585 | 181,962 | 1,274,324 | 1,456,287 | 476,714 | 979,573 | - | 1998 | |||||||||||||||||||||||||||||||||||
INITIAL COST | TOTAL COST, | ||||||||||||||||||||||||||||||||||||||||||||
LAND | BUILDING | SUBSEQUENT | LAND | BUILDING | TOTAL | ACCUMULATED DEPRECIATION | NET OF | ENCUMBRANCES | DATE OF | DATE OF | |||||||||||||||||||||||||||||||||||
& | TO ACQUISITION | & | ACCUMULATED | ACQUISITION | CONSTRUCTION | ||||||||||||||||||||||||||||||||||||||||
IMPROVEMENT | IMPROVEMENT | DEPRECIATION | (A) | (C) | |||||||||||||||||||||||||||||||||||||||||
HAWTHORN HILLS SQUARE | 6,783,928 | 33,033,624 | 2,230,045 | 6,783,928 | 35,263,669 | 42,047,596 | 1,583,513 | 40,464,084 | 20,964,079 | 2012 | |||||||||||||||||||||||||||||||||||
WOODGROVE FESTIVAL | 5,049,149 | 20,822,993 | 4,243,714 | 4,805,866 | 25,309,991 | 30,115,856 | 9,965,994 | 20,149,862 | - | 1998 | |||||||||||||||||||||||||||||||||||
WAUKEGAN PLAZA | 349,409 | 883,975 | 2,276,671 | 349,409 | 3,160,646 | 3,510,055 | 318,474 | 3,191,581 | - | 2005 | |||||||||||||||||||||||||||||||||||
GREENWOOD | 423,371 | 1,883,421 | 7,316,996 | 1,801,822 | 7,821,966 | 9,623,788 | 3,409,197 | 6,214,592 | - | 1970 | |||||||||||||||||||||||||||||||||||
SOUTH BEND, S. HIGH ST. | 183,463 | 1,070,401 | 196,857 | 183,463 | 1,267,258 | 1,450,721 | 479,920 | 970,802 | - | 1998 | |||||||||||||||||||||||||||||||||||
OVERLAND PARK | 1,183,911 | 6,335,308 | 142,374 | 1,185,906 | 6,475,686 | 7,661,593 | 2,524,866 | 5,136,726 | - | 1998 | |||||||||||||||||||||||||||||||||||
BELLEVUE | 405,217 | 1,743,573 | 247,204 | 405,217 | 1,990,776 | 2,395,994 | 1,847,887 | 548,107 | - | 1976 | |||||||||||||||||||||||||||||||||||
LEXINGTON | 1,675,031 | 6,848,209 | 5,773,377 | 1,551,079 | 12,745,538 | 14,296,617 | 6,335,735 | 7,960,882 | - | 1993 | |||||||||||||||||||||||||||||||||||
HAMMOND AIR PLAZA | 3,813,873 | 15,260,609 | 7,227,023 | 3,813,873 | 22,487,632 | 26,301,505 | 7,984,040 | 18,317,464 | - | 1997 | |||||||||||||||||||||||||||||||||||
WINN DIXIE-BATON ROUGE | 1,229,610 | 3,870,390 | - | 1,229,610 | 3,870,390 | 5,100,000 | 6,646 | 5,093,354 | - | 2013 | |||||||||||||||||||||||||||||||||||
CENTRE AT WESTBANK | 9,554,230 | 24,401,082 | 861,931 | 9,564,644 | 25,252,599 | 34,817,243 | 6,647,357 | 28,169,886 | 18,600,000 | 2008 | |||||||||||||||||||||||||||||||||||
LAFAYETTE | 2,115,000 | 8,508,218 | 10,566,842 | 3,678,274 | 17,511,786 | 21,190,060 | 7,015,776 | 14,174,284 | - | 1997 | |||||||||||||||||||||||||||||||||||
PRIEN LAKE | 6,426,167 | 15,181,072 | (109,020 | ) | 6,341,896 | 15,156,323 | 21,498,219 | 3,277,316 | 18,220,903 | 15,766,898 | 2010 | ||||||||||||||||||||||||||||||||||
PRIEN LAKE PLAZA OUTPARCEL | 540,000 | 1,260,000 | - | 540,000 | 1,260,000 | 1,800,000 | 39,900 | 1,760,100 | - | 2012 | |||||||||||||||||||||||||||||||||||
AMBASSADOR PLAZA | 1,803,672 | 4,260,966 | (6,701 | ) | 1,796,972 | 4,260,966 | 6,057,938 | 922,496 | 5,135,442 | 4,537,575 | 2010 | ||||||||||||||||||||||||||||||||||
BAYOU WALK | 4,586,895 | 10,836,007 | 153,992 | 4,586,326 | 10,990,568 | 15,576,894 | 2,368,552 | 13,208,343 | 12,493,908 | 2010 | |||||||||||||||||||||||||||||||||||
EAST SIDE PLAZA | 3,295,799 | 7,785,942 | 353,892 | 3,295,635 | 8,139,998 | 11,435,633 | 1,697,110 | 9,738,522 | 8,674,954 | 2010 | |||||||||||||||||||||||||||||||||||
WINN DIXIE-WALKER | 1,060,840 | 3,339,160 | - | 1,060,840 | 3,339,160 | 4,400,000 | 6,740 | 4,393,260 | - | 2013 | |||||||||||||||||||||||||||||||||||
GREAT BARRINGTON | 642,170 | 2,547,830 | 7,315,207 | 751,124 | 9,754,083 | 10,505,207 | 4,141,684 | 6,363,523 | - | 1994 | |||||||||||||||||||||||||||||||||||
SHREWSBURY SHOPPING CENTER | 1,284,168 | 5,284,853 | 5,044,733 | 1,284,168 | 10,329,586 | 11,613,754 | 3,349,104 | 8,264,649 | - | 2000 | |||||||||||||||||||||||||||||||||||
PUTTY HILL PLAZA | 4,192,152 | 11,112,111 | 83,446 | 4,192,152 | 11,195,557 | 15,387,709 | 507,077 | 14,880,632 | 9,138,792 | 2013 | |||||||||||||||||||||||||||||||||||
SNOWDEN SQUARE S.C. | 1,929,402 | 4,557,934 | - | 1,929,402 | 4,557,934 | 6,487,336 | 185,214 | 6,302,122 | - | 2012 | |||||||||||||||||||||||||||||||||||
WILDE LAKE | 1,468,038 | 5,869,862 | 11,035,925 | 2,577,073 | 15,796,752 | 18,373,824 | 3,149,612 | 15,224,212 | - | 2002 | |||||||||||||||||||||||||||||||||||
CLINTON BANK BUILDING | 82,967 | 362,371 | - | 82,967 | 362,371 | 445,338 | 238,143 | 207,195 | - | 2003 | |||||||||||||||||||||||||||||||||||
CLINTON BOWL | 39,779 | 130,716 | 4,247 | 38,779 | 135,963 | 174,742 | 75,120 | 99,622 | - | 2003 | |||||||||||||||||||||||||||||||||||
TJMAXX | 1,279,200 | 2,870,800 | 12,215,685 | 4,597,200 | 11,768,485 | 16,365,685 | 561,828 | 15,803,857 | - | 2011 | |||||||||||||||||||||||||||||||||||
COLUMBIA CROSSING II SHOP.CTR. | 3,137,628 | 19,868,075 | - | 3,137,628 | 19,868,075 | 23,005,703 | 927,530 | 22,078,173 | - | 2013 | |||||||||||||||||||||||||||||||||||
VILLAGES AT URBANA | 3,190,074 | 6,067 | 10,496,574 | 4,828,774 | 8,863,942 | 13,692,715 | 985,685 | 12,707,031 | - | 2003 | |||||||||||||||||||||||||||||||||||
GAITHERSBURG | 244,890 | 6,787,534 | 230,545 | 244,890 | 7,018,079 | 7,262,969 | 2,549,481 | 4,713,489 | - | 1999 | |||||||||||||||||||||||||||||||||||
SHAWAN PLAZA | 4,466,000 | 20,222,367 | (857,895 | ) | 4,466,000 | 19,364,472 | 23,830,472 | 8,500,106 | 15,330,366 | 7,523,895 | 2008 | ||||||||||||||||||||||||||||||||||
LAUREL | 349,562 | 1,398,250 | 1,598,933 | 349,562 | 2,997,183 | 3,346,745 | 1,371,179 | 1,975,566 | - | 1995 | |||||||||||||||||||||||||||||||||||
LAUREL | 274,580 | 1,100,968 | 434,562 | 274,580 | 1,535,531 | 1,810,110 | 1,384,389 | 425,721 | - | 1972 | |||||||||||||||||||||||||||||||||||
OWINGS MILLS PLAZA | 303,911 | 1,370,221 | (503,247 | ) | 303,911 | 866,973 | 1,170,885 | 106,811 | 1,064,073 | - | 2005 | ||||||||||||||||||||||||||||||||||
PERRY HALL | 3,339,309 | 12,377,339 | 938,707 | 3,339,309 | 13,316,046 | 16,655,355 | 5,914,698 | 10,740,657 | - | 2003 | |||||||||||||||||||||||||||||||||||
CENTRE COURT-RETAIL/BANK | 1,035,359 | 7,785,830 | (29,007 | ) | 1,035,359 | 7,756,823 | 8,792,182 | 673,964 | 8,118,218 | 2,586,223 | 2011 | ||||||||||||||||||||||||||||||||||
CENTRE COURT-GIANT | 3,854,099 | 12,769,628 | - | 3,854,099 | 12,769,628 | 16,623,727 | 993,572 | 15,630,155 | 7,320,245 | 2011 | |||||||||||||||||||||||||||||||||||
CENTRE COURT-OLD COURT/COURTYD | 2,279,177 | 5,284,577 | - | 2,279,177 | 5,284,577 | 7,563,754 | 549,048 | 7,014,706 | 5,201,109 | 2011 | |||||||||||||||||||||||||||||||||||
TIMONIUM SHOPPING CENTER | 6,000,000 | 24,282,998 | 16,750,746 | 7,331,195 | 39,702,549 | 47,033,744 | 17,124,265 | 29,909,478 | - | 2003 | |||||||||||||||||||||||||||||||||||
TOWSON PLACE | 43,886,876 | 101,764,931 | 261,321 | 43,270,792 | 102,642,337 | 145,913,128 | 7,599,589 | 138,313,539 | - | 2012 | |||||||||||||||||||||||||||||||||||
WALDORF BOWL | 225,099 | 739,362 | 84,327 | 235,099 | 813,688 | 1,048,787 | 435,235 | 613,552 | - | 2003 | |||||||||||||||||||||||||||||||||||
WALDORF FIRESTONE | 57,127 | 221,621 | - | 57,127 | 221,621 | 278,749 | 130,990 | 147,759 | - | 2003 | |||||||||||||||||||||||||||||||||||
BANGOR, ME | 403,833 | 1,622,331 | 93,752 | 403,833 | 1,716,083 | 2,119,916 | 527,748 | 1,592,168 | - | 2001 | |||||||||||||||||||||||||||||||||||
MALLSIDE PLAZA | 6,930,996 | 18,148,727 | 188,628 | 6,939,589 | 18,328,761 | 25,268,351 | 5,298,822 | 19,969,529 | 14,509,793 | 2008 | |||||||||||||||||||||||||||||||||||
STROUDWATER STREET | 1,250,000 | - | - | 1,250,000 | - | 1,250,000 | - | 1,250,000 | - | 2013 | |||||||||||||||||||||||||||||||||||
CLAWSON | 1,624,771 | 6,578,142 | 8,738,369 | 1,624,771 | 15,316,511 | 16,941,282 | 5,742,173 | 11,199,109 | - | 1993 | |||||||||||||||||||||||||||||||||||
WHITE LAKE | 2,300,050 | 9,249,607 | 2,210,968 | 2,300,050 | 11,460,575 | 13,760,625 | 5,115,995 | 8,644,630 | - | 1996 | |||||||||||||||||||||||||||||||||||
CANTON TWP PLAZA | 163,740 | 926,150 | 5,249,730 | 163,740 | 6,175,879 | 6,339,620 | 829,157 | 5,510,463 | - | 2005 | |||||||||||||||||||||||||||||||||||
CLINTON TWP PLAZA | 175,515 | 714,279 | 1,147,275 | 59,450 | 1,977,619 | 2,037,068 | 597,598 | 1,439,470 | - | 2005 | |||||||||||||||||||||||||||||||||||
FARMINGTON | 1,098,426 | 4,525,723 | 2,657,433 | 1,098,426 | 7,183,156 | 8,281,582 | 3,642,670 | 4,638,911 | - | 1993 | |||||||||||||||||||||||||||||||||||
FLINT - VACANT LAND | 101,424 | - | - | 101,424 | - | 101,424 | - | 101,424 | - | 2012 | |||||||||||||||||||||||||||||||||||
LIVONIA | 178,785 | 925,818 | 1,194,933 | 178,785 | 2,120,751 | 2,299,536 | 1,368,423 | 931,114 | - | 1968 | |||||||||||||||||||||||||||||||||||
MUSKEGON | 391,500 | 958,500 | 1,026,581 | 391,500 | 1,985,081 | 2,376,581 | 1,654,781 | 721,800 | - | 1985 | |||||||||||||||||||||||||||||||||||
OKEMOS PLAZA | 166,706 | 591,193 | 1,877,278 | 166,706 | 2,468,471 | 2,635,177 | 237,459 | 2,397,718 | - | 2005 | |||||||||||||||||||||||||||||||||||
TAYLOR | 1,451,397 | 5,806,263 | 426,379 | 1,451,397 | 6,232,642 | 7,684,039 | 3,139,985 | 4,544,054 | - | 1993 | |||||||||||||||||||||||||||||||||||
WALKER | 3,682,478 | 14,730,060 | 2,320,218 | 3,682,478 | 17,050,278 | 20,732,756 | 8,405,788 | 12,326,968 | - | 1993 | |||||||||||||||||||||||||||||||||||
EDEN PRAIRIE PLAZA | 882,596 | 911,373 | 632,145 | 882,596 | 1,543,518 | 2,426,114 | 219,623 | 2,206,491 | - | 2005 | |||||||||||||||||||||||||||||||||||
FOUNTAINS AT ARBOR LAKES | 28,585,296 | 66,699,024 | 10,086,660 | 28,585,296 | 76,785,684 | 105,370,979 | 16,922,727 | 88,448,252 | - | 2006 | |||||||||||||||||||||||||||||||||||
ROSEVILLE PLAZA | 132,842 | 957,340 | 10,302,188 | 1,675,667 | 9,716,703 | 11,392,370 | 923,706 | 10,468,664 | - | 2005 | |||||||||||||||||||||||||||||||||||
CREVE COEUR, WOODCREST/OLIVE | 1,044,598 | 5,475,623 | 615,905 | 960,814 | 6,175,312 | 7,136,126 | 2,464,269 | 4,671,857 | - | 1998 | |||||||||||||||||||||||||||||||||||
CRYSTAL CITY, MI | - | 234,378 | - | - | 234,378 | 234,378 | 91,405 | 142,973 | - | 1997 | |||||||||||||||||||||||||||||||||||
INDEPENDENCE, NOLAND DR. | 1,728,367 | 8,951,101 | 442,975 | 1,731,300 | 9,391,143 | 11,122,443 | 3,618,048 | 7,504,396 | - | 1998 | |||||||||||||||||||||||||||||||||||
NORTH POINT SHOPPING CENTER | 1,935,380 | 7,800,746 | 909,151 | 1,935,380 | 8,709,897 | 10,645,277 | 3,254,019 | 7,391,258 | - | 1998 | |||||||||||||||||||||||||||||||||||
KIRKWOOD | - | 9,704,005 | 13,699,527 | - | 23,403,532 | 23,403,532 | 12,850,691 | 10,552,842 | - | 1998 | |||||||||||||||||||||||||||||||||||
KANSAS CITY | 574,777 | 2,971,191 | 274,976 | 574,777 | 3,246,167 | 3,820,944 | 1,352,277 | 2,468,666 | - | 1997 | |||||||||||||||||||||||||||||||||||
LEMAY | 125,879 | 503,510 | 3,837,848 | 451,155 | 4,016,082 | 4,467,237 | 1,412,279 | 3,054,957 | - | 1974 | |||||||||||||||||||||||||||||||||||
GRAVOIS | 1,032,416 | 4,455,514 | 11,344,340 | 1,032,413 | 15,799,857 | 16,832,270 | 8,276,107 | 8,556,162 | - | 2008 | |||||||||||||||||||||||||||||||||||
ST. CHARLES-UNDERDEVELOPED LAND, MO | 431,960 | - | 758,854 | 431,960 | 758,855 | 1,190,814 | 249,028 | 941,786 | - | 1998 | |||||||||||||||||||||||||||||||||||
SPRINGFIELD | 2,745,595 | 10,985,778 | 7,652,181 | 2,904,022 | 18,479,532 | 21,383,554 | 8,016,088 | 13,367,465 | - | 1994 | |||||||||||||||||||||||||||||||||||
KMART PARCEL | 905,674 | 3,666,386 | 4,933,942 | 905,674 | 8,600,328 | 9,506,001 | 2,479,405 | 7,026,596 | 1,134,178 | 2002 | |||||||||||||||||||||||||||||||||||
KRC ST. CHARLES | - | 550,204 | - | - | 550,204 | 550,204 | 211,617 | 338,587 | - | 1998 | |||||||||||||||||||||||||||||||||||
ST. LOUIS, CHRISTY BLVD. | 809,087 | 4,430,514 | 2,653,031 | 809,087 | 7,083,545 | 7,892,632 | 2,668,116 | 5,224,516 | - | 1998 | |||||||||||||||||||||||||||||||||||
OVERLAND | - | 4,928,677 | 740,346 | - | 5,669,023 | 5,669,023 | 2,322,636 | 3,346,387 | - | 1997 | |||||||||||||||||||||||||||||||||||
ST. LOUIS | - | 5,756,736 | 849,684 | - | 6,606,420 | 6,606,420 | 2,827,840 | 3,778,580 | - | 1997 | |||||||||||||||||||||||||||||||||||
ST. LOUIS | - | 2,766,644 | 143,298 | - | 2,909,942 | 2,909,942 | 2,909,942 | - | - | 1997 | |||||||||||||||||||||||||||||||||||
ST. PETERS | 1,182,194 | 7,423,459 | 7,235,423 | 1,563,694 | 14,277,382 | 15,841,076 | 9,606,826 | 6,234,250 | - | 1997 | |||||||||||||||||||||||||||||||||||
SPRINGFIELD,GLENSTONE AVE. | - | 608,793 | 2,160,419 | - | 2,769,212 | 2,769,212 | 932,073 | 1,837,139 | - | 1998 | |||||||||||||||||||||||||||||||||||
TURTLE CREEK | 11,535,281 | - | 33,369,729 | 10,150,881 | 34,754,129 | 44,905,010 | 6,536,654 | 38,368,356 | - | 2004 | |||||||||||||||||||||||||||||||||||
OVERLOOK VILLAGE | 8,276,500 | 17,249,587 | - | 8,276,500 | 17,249,587 | 25,526,087 | 1,314,445 | 24,211,642 | - | 2012 | |||||||||||||||||||||||||||||||||||
CHARLOTTE | 919,251 | 3,570,981 | 2,418,716 | 919,251 | 5,989,696 | 6,908,948 | 2,368,861 | 4,540,086 | - | 2008 | |||||||||||||||||||||||||||||||||||
TYVOLA RD. | - | 4,736,345 | 5,565,798 | - | 10,302,143 | 10,302,143 | 7,718,141 | 2,584,002 | - | 1986 | |||||||||||||||||||||||||||||||||||
CROSSROADS PLAZA | 767,864 | 3,098,881 | 942,332 | 767,864 | 4,041,213 | 4,809,077 | 1,108,862 | 3,700,214 | - | 2000 | |||||||||||||||||||||||||||||||||||
JETTON VILLAGE SHOPPES | 3,875,224 | 10,292,231 | (613,879 | ) | 2,143,695 | 11,409,881 | 13,553,576 | 742,373 | 12,811,203 | - | 2011 | ||||||||||||||||||||||||||||||||||
MOUNTAIN ISLAND MARKETPLACE | 3,318,587 | 7,331,413 | 500,000 | 3,818,587 | 7,331,413 | 11,150,000 | 582,947 | 10,567,053 | - | 2012 | |||||||||||||||||||||||||||||||||||
WOODLAWN SHOPPING CENTER | 2,010,725 | 5,833,626 | - | 2,010,725 | 5,833,626 | 7,844,351 | 306,914 | 7,537,437 | - | 2012 | |||||||||||||||||||||||||||||||||||
DURHAM | 1,882,800 | 7,551,576 | 2,097,270 | 1,882,800 | 9,648,846 | 11,531,646 | 4,385,054 | 7,146,592 | - | 1996 | |||||||||||||||||||||||||||||||||||
DAVIDSON COMMONS | 2,978,533 | 12,859,867 | (32,227 | ) | 2,978,533 | 12,827,640 | 15,806,173 | 630,464 | 15,175,710 | - | 2012 | ||||||||||||||||||||||||||||||||||
WESTRIDGE SQUARE S.C. | 7,456,381 | 19,778,703 | (254,044 | ) | 11,977,700 | 15,003,340 | 26,981,040 | 2,379,927 | 24,601,113 | - | 2011 | ||||||||||||||||||||||||||||||||||
HILLSBOROUGH CROSSING | 519,395 | - | - | 519,395 | - | 519,395 | - | 519,395 | - | 2003 | |||||||||||||||||||||||||||||||||||
INITIAL COST | TOTAL COST, | ||||||||||||||||||||||||||||||||||||||||||||
LAND | BUILDING | SUBSEQUENT | LAND | BUILDING | TOTAL | ACCUMULATED DEPRECIATION | NET OF | ENCUMBRANCES | DATE OF | DATE OF | |||||||||||||||||||||||||||||||||||
& | TO ACQUISITION | & | ACCUMULATED | ACQUISITION | CONSTRUCTION | ||||||||||||||||||||||||||||||||||||||||
IMPROVEMENT | IMPROVEMENT | DEPRECIATION | (A) | (C) | |||||||||||||||||||||||||||||||||||||||||
PARK PLACE | 5,461,478 | 16,163,494 | 54,701 | 5,469,809 | 16,209,865 | 21,679,674 | 3,928,625 | 17,751,048 | 13,173,358 | 2008 | |||||||||||||||||||||||||||||||||||
MOORESVILLE CROSSING | 12,013,727 | 30,604,173 | (403,339 | ) | 11,625,801 | 30,588,759 | 42,214,560 | 7,002,268 | 35,212,292 | - | 2007 | ||||||||||||||||||||||||||||||||||
RALEIGH | 5,208,885 | 20,885,792 | 12,643,481 | 5,208,885 | 33,529,273 | 38,738,158 | 15,590,232 | 23,147,925 | - | 1993 | |||||||||||||||||||||||||||||||||||
WAKEFIELD COMMONS II | 6,506,450 | - | (2,728,390 | ) | 2,357,636 | 1,420,424 | 3,778,060 | 373,347 | 3,404,713 | - | 2001 | ||||||||||||||||||||||||||||||||||
WAKEFIELD CROSSINGS | 3,413,932 | - | (3,017,960 | ) | 336,236 | 59,737 | 395,973 | 2,977 | 392,995 | - | 2001 | ||||||||||||||||||||||||||||||||||
EDGEWATER PLACE | 3,150,000 | - | 10,087,943 | 3,062,768 | 10,175,175 | 13,237,943 | 2,149,323 | 11,088,621 | - | 2003 | |||||||||||||||||||||||||||||||||||
BRENNAN STATION | 7,749,751 | 20,556,891 | (1,027,052 | ) | 6,321,923 | 20,957,667 | 27,279,590 | 1,937,329 | 25,342,261 | 8,797,971 | 2011 | ||||||||||||||||||||||||||||||||||
BRENNAN STATION OUTPARCEL | 627,906 | 1,665,576 | (93,482 | ) | 450,232 | 1,749,768 | 2,200,000 | 148,839 | 2,051,161 | - | 2011 | ||||||||||||||||||||||||||||||||||
WINSTON-SALEM | 540,667 | 719,655 | 6,466,329 | 540,667 | 7,185,984 | 7,726,651 | 3,303,419 | 4,423,232 | 4,713,763 | 1969 | |||||||||||||||||||||||||||||||||||
SORENSON PARK PLAZA | 5,104,294 | - | 30,749,693 | 3,791,319 | 32,062,667 | 35,853,987 | 3,367,808 | 32,486,179 | - | 2005 | |||||||||||||||||||||||||||||||||||
LORDEN PLAZA | 8,872,529 | 22,548,382 | 423,882 | 8,883,003 | 22,961,789 | 31,844,793 | 4,873,038 | 26,971,755 | 24,934,203 | 2008 | |||||||||||||||||||||||||||||||||||
ROCKINGHAM | 2,660,915 | 10,643,660 | 12,033,085 | 3,148,715 | 22,188,945 | 25,337,660 | 9,708,375 | 15,629,285 | 17,333,585 | 2008 | |||||||||||||||||||||||||||||||||||
BAYONNE BROADWAY | 1,434,737 | 3,347,719 | 2,825,469 | 1,434,737 | 6,173,188 | 7,607,924 | 1,628,494 | 5,979,430 | - | 2004 | |||||||||||||||||||||||||||||||||||
BRICKTOWN PLAZA | 344,884 | 1,008,941 | (307,857 | ) | 344,884 | 701,084 | 1,045,968 | 66,213 | 979,754 | - | 2005 | ||||||||||||||||||||||||||||||||||
CHERRY HILL | 2,417,583 | 6,364,094 | 1,559,162 | 2,417,583 | 7,923,256 | 10,340,839 | 6,440,845 | 3,899,993 | - | 1985 | |||||||||||||||||||||||||||||||||||
MARLTON PIKE | - | 4,318,534 | 9,000 | - | 4,327,534 | 4,327,534 | 1,927,099 | 2,400,435 | - | 1996 | |||||||||||||||||||||||||||||||||||
CINNAMINSON | 652,123 | 2,608,491 | 3,477,974 | 652,123 | 6,086,465 | 6,738,588 | 2,673,685 | 4,064,903 | - | 1996 | |||||||||||||||||||||||||||||||||||
GARDEN STATE PAVILIONS | 7,530,709 | 10,801,949 | 744,382 | 7,530,709 | 11,546,331 | 19,077,040 | 2,054,430 | 17,022,609 | - | 2011 | |||||||||||||||||||||||||||||||||||
CLARK SHOPRITE 70 CENTRAL AVE | 3,496,673 | 11,693,769 | - | 3,496,673 | 11,693,769 | 15,190,442 | 45,335 | 15,145,107 | - | 2013 | |||||||||||||||||||||||||||||||||||
COMMERCE CENTER WEST | 385,760 | 1,290,080 | - | 385,760 | 1,290,080 | 1,675,840 | 5,001 | 1,670,839 | - | 2013 | |||||||||||||||||||||||||||||||||||
COMMERCE CENTER EAST | 1,518,930 | 5,079,690 | - | 1,518,930 | 5,079,690 | 6,598,620 | 19,693 | 6,578,927 | - | 2013 | |||||||||||||||||||||||||||||||||||
BALLY'S & RITEAID 140 CENTRAL | 3,170,465 | 10,602,845 | - | 3,170,465 | 10,602,845 | 13,773,310 | 41,106 | 13,732,204 | - | 2013 | |||||||||||||||||||||||||||||||||||
EASTWINDOR VILLAGE | 9,335,011 | 23,777,978 | 63,800 | 9,335,011 | 23,841,778 | 33,176,789 | 3,887,377 | 29,289,412 | - | 2008 | |||||||||||||||||||||||||||||||||||
HILLSBOROUGH | 11,886,809 | - | (6,880,755 | ) | 5,006,054 | - | 5,006,054 | - | 5,006,054 | - | 2001 | ||||||||||||||||||||||||||||||||||
HOLMDEL TOWNE CENTER | 10,824,624 | 43,301,494 | 5,271,400 | 10,824,624 | 48,572,894 | 59,397,517 | 14,052,180 | 45,345,338 | 25,879,586 | 2002 | |||||||||||||||||||||||||||||||||||
HOLMDEL COMMONS | 16,537,556 | 38,759,952 | 3,413,848 | 16,537,556 | 42,173,801 | 58,711,357 | 13,167,545 | 45,543,811 | 18,621,703 | 2004 | |||||||||||||||||||||||||||||||||||
HOWELL PLAZA | 311,384 | 1,143,159 | 4,694,515 | 311,384 | 5,837,674 | 6,149,058 | 644,023 | 5,505,034 | - | 2005 | |||||||||||||||||||||||||||||||||||
MAPLE SHADE | - | 9,957,611 | (177,307 | ) | - | 9,780,303 | 9,780,303 | 842,515 | 8,937,788 | - | 2009 | ||||||||||||||||||||||||||||||||||
NORTH BRUNSWICK | 3,204,978 | 12,819,912 | 21,304,526 | 3,204,978 | 34,124,438 | 37,329,416 | 14,409,417 | 22,919,999 | 26,670,758 | 1994 | |||||||||||||||||||||||||||||||||||
PISCATAWAY TOWN CENTER | 3,851,839 | 15,410,851 | 692,255 | 3,851,839 | 16,103,106 | 19,954,945 | 6,535,102 | 13,419,843 | 10,547,632 | 1998 | |||||||||||||||||||||||||||||||||||
RIDGEWOOD | 450,000 | 2,106,566 | 1,015,675 | 450,000 | 3,122,241 | 3,572,241 | 1,409,038 | 2,163,203 | - | 1993 | |||||||||||||||||||||||||||||||||||
SEA GIRT PLAZA | 457,039 | 1,308,010 | 1,457,882 | 457,039 | 2,765,892 | 3,222,931 | 283,455 | 2,939,476 | - | 2005 | |||||||||||||||||||||||||||||||||||
UNION CRESCENT | 7,895,483 | 3,010,640 | 28,918,367 | 8,696,579 | 31,127,912 | 39,824,490 | 7,469,477 | 32,355,014 | - | 2007 | |||||||||||||||||||||||||||||||||||
WESTMONT | 601,655 | 2,404,604 | 10,727,665 | 601,655 | 13,132,269 | 13,733,924 | 5,110,066 | 8,623,858 | - | 1994 | |||||||||||||||||||||||||||||||||||
WILLOWBROOK PLAZA | 15,320,436 | 40,996,874 | (969,688 | ) | 15,320,436 | 40,027,186 | 55,347,622 | 9,065,426 | 46,282,195 | - | 2009 | ||||||||||||||||||||||||||||||||||
PLAZA PASEO DEL-NORTE | 4,653,197 | 18,633,584 | 1,464,134 | 4,653,197 | 20,097,718 | 24,750,915 | 8,083,424 | 16,667,491 | - | 1998 | |||||||||||||||||||||||||||||||||||
JUAN TABO, ALBUQUERQUE | 1,141,200 | 4,566,817 | 300,234 | 1,141,200 | 4,867,051 | 6,008,251 | 1,952,334 | 4,055,917 | - | 1998 | |||||||||||||||||||||||||||||||||||
WARM SPRINGS PROMENADE | 7,226,363 | 19,109,946 | 2,591,393 | 7,226,363 | 21,701,339 | 28,927,702 | 5,385,367 | 23,542,335 | - | 2009 | |||||||||||||||||||||||||||||||||||
COMP USA CENTER | 2,581,908 | 5,798,092 | (343,745 | ) | 2,581,908 | 5,454,347 | 8,036,255 | 2,833,791 | 5,202,464 | 2,571,708 | 2006 | ||||||||||||||||||||||||||||||||||
DEL MONTE PLAZA | 2,489,429 | 5,590,415 | 502,509 | 2,210,000 | 6,372,353 | 8,582,354 | 2,027,580 | 6,554,774 | 3,391,336 | 2006 | |||||||||||||||||||||||||||||||||||
D'ANDREA MARKETPLACE | 11,556,067 | 29,435,364 | (35,616 | ) | 11,556,067 | 29,399,748 | 40,955,815 | 5,033,661 | 35,922,154 | 13,773,674 | 2007 | ||||||||||||||||||||||||||||||||||
KEY BANK BUILDING | 1,500,000 | 40,486,755 | - | 1,500,000 | 40,486,755 | 41,986,755 | 13,363,465 | 28,623,291 | 9,338,603 | 2006 | |||||||||||||||||||||||||||||||||||
BRIDGEHAMPTON | 1,811,752 | 3,107,232 | 25,420,044 | 1,858,188 | 28,480,839 | 30,339,028 | 16,692,418 | 13,646,610 | 33,186,972 | 1972 | |||||||||||||||||||||||||||||||||||
GENOVESE DRUG STORE | 564,097 | 2,268,768 | - | 564,097 | 2,268,768 | 2,832,865 | 626,549 | 2,206,316 | - | 2003 | |||||||||||||||||||||||||||||||||||
KINGS HIGHWAY | 2,743,820 | 6,811,268 | 1,338,513 | 2,743,820 | 8,149,781 | 10,893,601 | 2,601,447 | 8,292,154 | - | 2004 | |||||||||||||||||||||||||||||||||||
HOMEPORT-RALPH AVENUE | 4,414,466 | 11,339,857 | 3,697,073 | 4,414,467 | 15,036,930 | 19,451,396 | 3,790,648 | 15,660,748 | - | 2004 | |||||||||||||||||||||||||||||||||||
BELLMORE | 1,272,269 | 3,183,547 | 381,803 | 1,272,269 | 3,565,350 | 4,837,619 | 1,120,814 | 3,716,805 | - | 2004 | |||||||||||||||||||||||||||||||||||
MARKET AT BAY SHORE | 12,359,621 | 30,707,802 | 1,916,035 | 12,359,621 | 32,623,837 | 44,983,458 | 9,250,407 | 35,733,051 | 12,000,000 | 2006 | |||||||||||||||||||||||||||||||||||
KEY FOOD OPERATOR ATLANTIC AVE | 2,272,500 | 5,624,589 | 509,260 | 4,808,822 | 3,597,527 | 8,406,349 | 117,921 | 8,288,428 | - | 2012 | |||||||||||||||||||||||||||||||||||
KING KULLEN PLAZA | 5,968,082 | 23,243,404 | 5,316,528 | 5,980,130 | 28,547,883 | 34,528,014 | 10,522,154 | 24,005,859 | - | 1998 | |||||||||||||||||||||||||||||||||||
PATHMARK SC | 6,714,664 | 17,359,161 | 526,939 | 6,714,664 | 17,886,100 | 24,600,764 | 4,621,545 | 19,979,219 | - | 2006 | |||||||||||||||||||||||||||||||||||
BIRCHWOOD PLAZA COMMACK | 3,630,000 | 4,774,791 | 274,672 | 3,630,000 | 5,049,463 | 8,679,463 | 1,408,844 | 7,270,620 | - | 2007 | |||||||||||||||||||||||||||||||||||
ELMONT | 3,011,658 | 7,606,066 | 2,751,121 | 3,011,658 | 10,357,187 | 13,368,845 | 2,766,476 | 10,602,370 | - | 2004 | |||||||||||||||||||||||||||||||||||
ELMSFORD CENTER 1 | 4,134,273 | 1,193,084 | - | 4,134,273 | 1,193,084 | 5,327,357 | 11,842 | 5,315,515 | - | 2013 | |||||||||||||||||||||||||||||||||||
ELMSFORD CENTER 2 | 4,076,403 | 15,598,504 | - | 4,076,403 | 15,598,504 | 19,674,907 | 186,031 | 19,488,876 | - | 2013 | |||||||||||||||||||||||||||||||||||
FRANKLIN SQUARE | 1,078,541 | 2,516,581 | 3,835,613 | 1,078,541 | 6,352,194 | 7,430,734 | 1,520,074 | 5,910,660 | - | 2004 | |||||||||||||||||||||||||||||||||||
KISSENA BOULEVARD SC | 11,610,000 | 2,933,487 | 1,519 | 11,610,000 | 2,935,006 | 14,545,006 | 858,603 | 13,686,403 | - | 2007 | |||||||||||||||||||||||||||||||||||
HAMPTON BAYS | 1,495,105 | 5,979,320 | 3,304,710 | 1,495,105 | 9,284,031 | 10,779,135 | 5,625,177 | 5,153,959 | - | 1989 | |||||||||||||||||||||||||||||||||||
HICKSVILLE | 3,542,739 | 8,266,375 | 1,281,727 | 3,542,739 | 9,548,102 | 13,090,841 | 2,938,994 | 10,151,847 | - | 2004 | |||||||||||||||||||||||||||||||||||
TURNPIKE PLAZA | 2,471,832 | 5,839,416 | 125,480 | 2,471,832 | 5,964,896 | 8,436,728 | 1,260,248 | 7,176,480 | - | 2011 | |||||||||||||||||||||||||||||||||||
BIRCHWOOD PLAZA (NORTH & SOUTH) | 12,368,330 | 33,071,495 | 272,893 | 12,368,330 | 33,344,389 | 45,712,719 | 6,920,961 | 38,791,758 | 11,648,419 | 2007 | |||||||||||||||||||||||||||||||||||
501 NORTH BROADWAY | - | 1,175,543 | 78,259 | - | 1,253,803 | 1,253,803 | 607,846 | 645,957 | - | 2007 | |||||||||||||||||||||||||||||||||||
MERRYLANE (P/L) | 1,485,531 | 1,749 | 539 | 1,485,531 | 2,288 | 1,487,819 | 255 | 1,487,564 | - | 2007 | |||||||||||||||||||||||||||||||||||
FAMILY DOLLAR UNION TURNPIKE | 909,000 | 2,249,775 | 230,747 | 1,056,709 | 2,332,813 | 3,389,522 | 121,829 | 3,267,693 | - | 2012 | |||||||||||||||||||||||||||||||||||
DOUGLASTON SHOPPING CENTER | 3,277,254 | 13,161,218 | 3,788,141 | 3,277,253 | 16,949,360 | 20,226,613 | 4,429,461 | 15,797,152 | - | 2003 | |||||||||||||||||||||||||||||||||||
KEY FOOD OPERATOR 21ST STREET | 1,090,800 | 2,699,730 | (119,282 | ) | 1,669,153 | 2,002,095 | 3,671,248 | 58,820 | 3,612,428 | - | 2012 | ||||||||||||||||||||||||||||||||||
MANHASSET VENTURE LLC | 4,567,003 | 19,165,808 | 27,930,686 | 3,471,939 | 48,191,559 | 51,663,498 | 19,528,327 | 32,135,171 | - | 1999 | |||||||||||||||||||||||||||||||||||
MANHASSET CENTER (residential) | 950,000 | - | 950,000 | - | 950,000 | - | 950,000 | - | 2012 | ||||||||||||||||||||||||||||||||||||
MASPETH QUEENS-DUANE READE | 1,872,013 | 4,827,940 | 931,187 | 1,872,013 | 5,759,126 | 7,631,139 | 1,651,576 | 5,979,563 | - | 2004 | |||||||||||||||||||||||||||||||||||
MASSAPEQUA | 1,880,816 | 4,388,549 | 964,761 | 1,880,816 | 5,353,310 | 7,234,126 | 1,691,291 | 5,542,835 | - | 2004 | |||||||||||||||||||||||||||||||||||
MINEOLA SC | 4,150,000 | 7,520,692 | (407,329 | ) | 4,150,000 | 7,113,364 | 11,263,364 | 1,565,324 | 9,698,039 | - | 2007 | ||||||||||||||||||||||||||||||||||
BIRCHWOOD PARK DRIVE (LAND LOT) | 3,507,162 | 4,126 | 118,024 | 3,507,406 | 121,907 | 3,629,313 | 560 | 3,628,753 | - | 2007 | |||||||||||||||||||||||||||||||||||
SMITHTOWN PLAZA | 3,528,000 | 7,364,098 | 292,668 | 3,528,000 | 7,656,766 | 11,184,766 | 1,225,873 | 9,958,892 | - | 2009 | |||||||||||||||||||||||||||||||||||
PLAINVIEW | 263,693 | 584,031 | 9,815,009 | 263,693 | 10,399,040 | 10,662,733 | 5,480,157 | 5,182,576 | 13,120,709 | 1969 | |||||||||||||||||||||||||||||||||||
POUGHKEEPSIE | 876,548 | 4,695,659 | 13,161,736 | 876,548 | 17,857,395 | 18,733,943 | 9,011,531 | 9,722,413 | 14,735,453 | 1972 | |||||||||||||||||||||||||||||||||||
SYOSSET, NY | 106,655 | 76,197 | 1,551,676 | 106,655 | 1,627,873 | 1,734,528 | 1,021,748 | 712,780 | - | 1990 | |||||||||||||||||||||||||||||||||||
STATEN ISLAND | 2,280,000 | 9,027,951 | 10,038,376 | 2,280,000 | 19,066,327 | 21,346,327 | 9,850,673 | 11,495,654 | - | 1989 | |||||||||||||||||||||||||||||||||||
STATEN ISLAND | 2,940,000 | 11,811,964 | 4,760,806 | 3,148,424 | 16,364,345 | 19,512,770 | 5,266,811 | 14,245,959 | - | 1997 | |||||||||||||||||||||||||||||||||||
STATEN ISLAND PLAZA | 5,600,744 | 6,788,460 | (1,423,404 | ) | 5,600,744 | 5,365,056 | 10,965,800 | 391,991 | 10,573,809 | - | 2005 | ||||||||||||||||||||||||||||||||||
HYLAN PLAZA | 28,723,536 | 38,232,267 | 34,528,674 | 28,723,536 | 72,760,942 | 101,484,478 | 20,981,887 | 80,502,591 | - | 2006 | |||||||||||||||||||||||||||||||||||
STOP N SHOP STATEN ISLAND | 4,558,592 | 10,441,408 | 155,848 | 4,558,592 | 10,597,256 | 15,155,848 | 3,145,930 | 12,009,918 | - | 2005 | |||||||||||||||||||||||||||||||||||
KEY FOOD OPERATOR CENTRAL AVE. | 2,787,600 | 6,899,310 | (394,910 | ) | 2,603,321 | 6,688,679 | 9,292,000 | 187,335 | 9,104,665 | - | 2012 | ||||||||||||||||||||||||||||||||||
WHITE PLAINS | 1,777,775 | 4,453,894 | 2,010,606 | 1,777,775 | 6,464,500 | 8,242,274 | 1,913,958 | 6,328,317 | - | 2004 | |||||||||||||||||||||||||||||||||||
CHAMPION FOOD SUPERMARKET | 757,500 | 1,874,813 | (24,388 | ) | 2,241,118 | 366,807 | 2,607,925 | 26,952 | 2,580,973 | - | 2012 | ||||||||||||||||||||||||||||||||||
YONKERS | 871,977 | 3,487,909 | - | 871,977 | 3,487,909 | 4,359,886 | 1,866,286 | 2,493,600 | - | 1998 | |||||||||||||||||||||||||||||||||||
STRAUSS ROMAINE AVENUE | 782,459 | 1,825,737 | 588,133 | 782,459 | 2,413,870 | 3,196,329 | 363,719 | 2,832,611 | - | 2005 | |||||||||||||||||||||||||||||||||||
BEAVERCREEK | 635,228 | 3,024,722 | 4,220,733 | 635,228 | 7,245,455 | 7,880,683 | 4,779,973 | 3,100,710 | - | 1986 | |||||||||||||||||||||||||||||||||||
OLENTANGY RIVER RD. | 764,517 | 1,833,600 | 2,340,830 | 764,517 | 4,174,430 | 4,938,947 | 3,673,675 | 1,265,272 | - | 1988 | |||||||||||||||||||||||||||||||||||
INITIAL COST | TOTAL COST, | ||||||||||||||||||||||||||||||||||||||||||||
LAND | BUILDING | SUBSEQUENT | LAND | BUILDING | TOTAL | ACCUMULATED DEPRECIATION | NET OF | ENCUMBRANCES | DATE OF | DATE OF | |||||||||||||||||||||||||||||||||||
& | TO ACQUISITION | & | ACCUMULATED | ACQUISITION | CONSTRUCTION | ||||||||||||||||||||||||||||||||||||||||
IMPROVEMENT | IMPROVEMENT | DEPRECIATION | (A) | (C) | |||||||||||||||||||||||||||||||||||||||||
KENT, OH | 6,254 | 3,028,914 | (434,587 | ) | 6,254 | 2,594,328 | 2,600,582 | 2,060,839 | 539,743 | - | 1999 | ||||||||||||||||||||||||||||||||||
KENT | 2,261,530 | - | - | 2,261,530 | - | 2,261,530 | - | 2,261,530 | - | 1995 | |||||||||||||||||||||||||||||||||||
NORTH OLMSTED | 626,818 | 3,712,045 | 35,000 | 626,818 | 3,747,045 | 4,373,862 | 2,751,481 | 1,622,381 | - | 1999 | |||||||||||||||||||||||||||||||||||
ORANGE OHIO | 3,783,875 | - | (2,342,306 | ) | 921,704 | 519,865 | 1,441,569 | - | 1,441,569 | - | 2001 | ||||||||||||||||||||||||||||||||||
EDMOND | 477,036 | 3,591,493 | 375,195 | 477,036 | 3,966,688 | 4,443,724 | 1,513,239 | 2,930,486 | - | 1997 | |||||||||||||||||||||||||||||||||||
CENTENNIAL PLAZA | 4,650,634 | 18,604,307 | 868,240 | 4,650,634 | 19,472,547 | 24,123,181 | 8,725,344 | 15,397,837 | - | 1998 | |||||||||||||||||||||||||||||||||||
OREGON TRAIL CENTER | 5,802,422 | 12,622,879 | 363,062 | 5,802,422 | 12,985,941 | 18,788,363 | 3,629,603 | 15,158,760 | - | 2009 | |||||||||||||||||||||||||||||||||||
POWELL VALLEY JUNCTION | 5,062,500 | 3,152,982 | (2,720,740 | ) | 2,035,125 | 3,459,618 | 5,494,742 | 1,166,308 | 4,328,434 | - | 2009 | ||||||||||||||||||||||||||||||||||
MEDFORD CENTER | 8,940,798 | 16,995,113 | 349,929 | 8,943,600 | 17,342,240 | 26,285,840 | 4,985,765 | 21,300,075 | - | 2009 | |||||||||||||||||||||||||||||||||||
MCMINNVILLE | 4,062,327 | - | 969,618 | 4,062,327 | 969,618 | 5,031,945 | 34,358 | 4,997,587 | - | 2006 | |||||||||||||||||||||||||||||||||||
ALLEGHENY | - | 30,061,177 | 59,094 | - | 30,120,271 | 30,120,271 | 6,749,117 | 23,371,153 | - | 2004 | |||||||||||||||||||||||||||||||||||
SUBURBAN SQUARE | 70,679,871 | 166,351,381 | 4,694,077 | 71,279,871 | 170,445,458 | 241,725,329 | 39,447,816 | 202,277,513 | - | 2007 | |||||||||||||||||||||||||||||||||||
CHIPPEWA | 2,881,525 | 11,526,101 | 153,289 | 2,881,525 | 11,679,391 | 14,560,916 | 4,216,794 | 10,344,122 | 5,028,992 | 2000 | |||||||||||||||||||||||||||||||||||
BROOKHAVEN PLAZA | 254,694 | 973,318 | (61,414 | ) | 254,694 | 911,903 | 1,166,598 | 92,297 | 1,074,301 | - | 2005 | ||||||||||||||||||||||||||||||||||
CARNEGIE | - | 3,298,908 | 17,747 | - | 3,316,655 | 3,316,655 | 1,190,595 | 2,126,061 | - | 1999 | |||||||||||||||||||||||||||||||||||
CENTER SQUARE | 731,888 | 2,927,551 | 1,291,242 | 731,888 | 4,218,793 | 4,950,681 | 2,423,676 | 2,527,005 | - | 1996 | |||||||||||||||||||||||||||||||||||
WAYNE PLAZA | 6,127,623 | 15,605,012 | 349,188 | 6,135,670 | 15,946,154 | 22,081,824 | 2,574,211 | 19,507,612 | 13,618,842 | 2008 | |||||||||||||||||||||||||||||||||||
CHAMBERSBURG CROSSING | 9,090,288 | - | 26,422,967 | 8,790,288 | 26,722,967 | 35,513,255 | 4,970,713 | 30,542,543 | - | 2006 | |||||||||||||||||||||||||||||||||||
DEVON VILLAGE | 4,856,379 | 25,846,910 | 4,378,945 | 4,856,379 | 30,225,855 | 35,082,234 | 1,604,676 | 33,477,558 | - | 2012 | |||||||||||||||||||||||||||||||||||
EAST STROUDSBURG | 1,050,000 | 2,372,628 | 1,434,371 | 1,050,000 | 3,806,999 | 4,856,999 | 3,038,380 | 1,818,619 | - | 1973 | |||||||||||||||||||||||||||||||||||
RIDGE PIKE PLAZA | 1,525,337 | 4,251,732 | 3,053,437 | 1,525,337 | 7,305,169 | 8,830,506 | 1,315,317 | 7,515,189 | - | 2008 | |||||||||||||||||||||||||||||||||||
EXTON | 176,666 | 4,895,360 | - | 176,666 | 4,895,360 | 5,072,026 | 1,757,309 | 3,314,717 | - | 1999 | |||||||||||||||||||||||||||||||||||
EXTON | 731,888 | 2,927,551 | - | 731,888 | 2,927,551 | 3,659,439 | 1,301,134 | 2,358,305 | - | 1996 | |||||||||||||||||||||||||||||||||||
EASTWICK | 889,001 | 2,762,888 | 3,074,728 | 889,001 | 5,837,616 | 6,726,617 | 2,420,697 | 4,305,920 | - | 1997 | |||||||||||||||||||||||||||||||||||
EXTON PLAZA | 294,378 | 1,404,778 | 336,688 | 130,246 | 1,905,599 | 2,035,844 | 221,534 | 1,814,310 | - | 2005 | |||||||||||||||||||||||||||||||||||
HARRISBURG, PA | 452,888 | 6,665,238 | 3,969,364 | 452,888 | 10,634,601 | 11,087,489 | 7,824,684 | 3,262,805 | - | 2002 | |||||||||||||||||||||||||||||||||||
HAMBURG | 439,232 | - | 2,023,428 | 494,982 | 1,967,677 | 2,462,660 | 593,957 | 1,868,703 | 1,950,795 | 2000 | |||||||||||||||||||||||||||||||||||
HAVERTOWN | 731,888 | 2,927,551 | - | 731,888 | 2,927,551 | 3,659,439 | 1,301,134 | 2,358,305 | - | 1996 | |||||||||||||||||||||||||||||||||||
NORRISTOWN | 686,134 | 2,664,535 | 3,797,064 | 774,084 | 6,373,649 | 7,147,733 | 4,400,501 | 2,747,232 | - | 1984 | |||||||||||||||||||||||||||||||||||
NEW KENSINGTON | 521,945 | 2,548,322 | 705,540 | 521,945 | 3,253,862 | 3,775,807 | 2,962,536 | 813,271 | - | 1986 | |||||||||||||||||||||||||||||||||||
PHILADELPHIA | 731,888 | 2,927,551 | - | 731,888 | 2,927,551 | 3,659,439 | 1,301,134 | 2,358,305 | - | 1996 | |||||||||||||||||||||||||||||||||||
PHILADELPHIA PLAZA | 209,197 | 1,373,843 | 15,888 | 209,197 | 1,389,731 | 1,598,928 | 163,185 | 1,435,744 | - | 2005 | |||||||||||||||||||||||||||||||||||
WEXFORD PLAZA | 6,413,635 | 9,774,600 | 5,678,052 | 6,413,635 | 15,452,652 | 21,866,287 | 2,651,582 | 19,214,705 | - | 2010 | |||||||||||||||||||||||||||||||||||
242-244 MARKET STREET | 704,263 | 2,117,182 | 290,927 | 704,263 | 2,408,109 | 3,112,372 | 156,595 | 2,955,777 | - | 2007 | |||||||||||||||||||||||||||||||||||
RICHBORO | 788,761 | 3,155,044 | 12,694,159 | 976,439 | 15,661,524 | 16,637,964 | 8,837,089 | 7,800,875 | 9,184,841 | 1986 | |||||||||||||||||||||||||||||||||||
SPRINGFIELD | 919,998 | 4,981,589 | 10,569,491 | 920,000 | 15,551,078 | 16,471,078 | 7,166,892 | 9,304,186 | - | 1983 | |||||||||||||||||||||||||||||||||||
UPPER DARBY | 231,821 | 927,286 | 5,549,754 | 231,821 | 6,477,040 | 6,708,861 | 2,865,440 | 3,843,421 | - | 1996 | |||||||||||||||||||||||||||||||||||
WEST MIFFLIN | 1,468,342 | - | - | 1,468,342 | - | 1,468,342 | - | 1,468,342 | - | 1986 | |||||||||||||||||||||||||||||||||||
WHITEHALL | - | 5,195,577 | - | - | 5,195,577 | 5,195,577 | 2,309,146 | 2,886,431 | - | 1996 | |||||||||||||||||||||||||||||||||||
W. MARKET ST. | 188,562 | 1,158,307 | - | 188,562 | 1,158,307 | 1,346,869 | 1,158,307 | 188,562 | - | 1986 | |||||||||||||||||||||||||||||||||||
REXVILLE TOWN CENTER | 24,872,982 | 48,688,161 | 6,726,885 | 25,678,064 | 54,609,964 | 80,288,028 | 23,018,940 | 57,269,088 | - | 2006 | |||||||||||||||||||||||||||||||||||
PLAZA CENTRO - COSTCO | 3,627,973 | 10,752,213 | 1,544,456 | 3,866,206 | 12,058,435 | 15,924,642 | 5,678,367 | 10,246,275 | - | 2006 | |||||||||||||||||||||||||||||||||||
PLAZA CENTRO - MALL | 19,873,263 | 58,719,179 | 7,977,102 | 19,408,112 | 67,161,432 | 86,569,544 | 30,677,512 | 55,892,031 | - | 2006 | |||||||||||||||||||||||||||||||||||
PLAZA CENTRO - RETAIL | 5,935,566 | 16,509,748 | 2,467,418 | 6,026,070 | 18,886,662 | 24,912,732 | 8,812,098 | 16,100,634 | - | 2006 | |||||||||||||||||||||||||||||||||||
PLAZA CENTRO - SAM'S CLUB | 6,643,224 | 20,224,758 | 2,338,149 | 6,520,090 | 22,686,041 | 29,206,131 | 21,185,978 | 8,020,153 | - | 2006 | |||||||||||||||||||||||||||||||||||
LOS COLOBOS - BUILDERS SQUARE | 4,404,593 | 9,627,903 | 1,369,323 | 4,461,145 | 10,940,674 | 15,401,819 | 7,070,222 | 8,331,597 | - | 2006 | |||||||||||||||||||||||||||||||||||
LOS COLOBOS - KMART | 4,594,944 | 10,120,147 | 734,343 | 4,402,338 | 11,047,095 | 15,449,433 | 7,356,098 | 8,093,335 | - | 2006 | |||||||||||||||||||||||||||||||||||
LOS COLOBOS I | 12,890,882 | 26,046,669 | 3,317,629 | 13,613,375 | 28,641,805 | 42,255,180 | 13,424,831 | 28,830,349 | - | 2006 | |||||||||||||||||||||||||||||||||||
LOS COLOBOS II | 14,893,698 | 30,680,556 | 4,598,890 | 15,142,300 | 35,030,844 | 50,173,144 | 15,967,680 | 34,205,465 | - | 2006 | |||||||||||||||||||||||||||||||||||
WESTERN PLAZA - MAYAQUEZ ONE | 10,857,773 | 12,252,522 | 1,285,971 | 11,241,993 | 13,154,273 | 24,396,267 | 6,468,871 | 17,927,395 | - | 2006 | |||||||||||||||||||||||||||||||||||
WESTERN PLAZA - MAYAGUEZ TWO | 16,874,345 | 19,911,045 | 1,714,874 | 16,872,647 | 21,627,617 | 38,500,264 | 10,700,368 | 27,799,897 | - | 2006 | |||||||||||||||||||||||||||||||||||
MANATI VILLA MARIA SC | 2,781,447 | 5,673,119 | 1,254,747 | 2,606,588 | 7,102,725 | 9,709,313 | 3,540,349 | 6,168,964 | - | 2006 | |||||||||||||||||||||||||||||||||||
PONCE TOWN CENTER | 14,432,778 | 28,448,754 | 5,257,359 | 14,903,024 | 33,235,867 | 48,138,891 | 10,573,966 | 37,564,925 | - | 2006 | |||||||||||||||||||||||||||||||||||
TRUJILLO ALTO PLAZA | 12,053,673 | 24,445,858 | 3,846,668 | 12,289,288 | 28,056,912 | 40,346,199 | 15,186,578 | 25,159,621 | - | 2006 | |||||||||||||||||||||||||||||||||||
MARSHALL PLAZA, CRANSTON RI | 1,886,600 | 7,575,302 | 1,924,691 | 1,886,600 | 9,499,993 | 11,386,593 | 4,120,584 | 7,266,008 | - | 1998 | |||||||||||||||||||||||||||||||||||
CHARLESTON | 730,164 | 3,132,092 | 18,727,969 | 730,164 | 21,860,061 | 22,590,225 | 7,292,643 | 15,297,582 | - | 1978 | |||||||||||||||||||||||||||||||||||
CHARLESTON | 1,744,430 | 6,986,094 | 4,082,494 | 1,744,430 | 11,068,588 | 12,813,018 | 4,920,834 | 7,892,184 | - | 1995 | |||||||||||||||||||||||||||||||||||
GREENVILLE | 2,209,812 | 8,850,864 | 887,322 | 2,209,811 | 9,738,187 | 11,947,998 | 4,134,043 | 7,813,955 | - | 1997 | |||||||||||||||||||||||||||||||||||
CHERRYDALE POINT | 5,801,948 | 32,055,019 | 1,292,326 | 5,801,948 | 33,347,345 | 39,149,293 | 4,988,102 | 34,161,191 | - | 2009 | |||||||||||||||||||||||||||||||||||
WOODRUFF SHOPPING CENTER | 3,110,439 | 15,501,117 | 1,182,533 | 3,465,199 | 16,328,890 | 19,794,089 | 1,458,474 | 18,335,615 | - | 2010 | |||||||||||||||||||||||||||||||||||
FOREST PARK | 1,920,241 | 9,544,875 | (6,551 | ) | 1,920,241 | 9,538,324 | 11,458,564 | 520,684 | 10,937,880 | - | 2012 | ||||||||||||||||||||||||||||||||||
MADISON | - | 4,133,904 | 2,880,678 | - | 7,014,582 | 7,014,582 | 5,582,868 | 1,431,714 | - | 1978 | |||||||||||||||||||||||||||||||||||
HICKORY RIDGE COMMONS | 596,347 | 2,545,033 | (2,404,809 | ) | 683,820 | 52,750 | 736,571 | 17,020 | 719,551 | - | 2000 | ||||||||||||||||||||||||||||||||||
CENTER OF THE HILLS, TX | 2,923,585 | 11,706,145 | 936,582 | 2,923,585 | 12,642,727 | 15,566,312 | 5,333,883 | 10,232,429 | 9,698,220 | 2008 | |||||||||||||||||||||||||||||||||||
ARLINGTON | 3,160,203 | 2,285,378 | 490,738 | 3,160,203 | 2,776,116 | 5,936,320 | 971,377 | 4,964,942 | - | 1997 | |||||||||||||||||||||||||||||||||||
DOWLEN CENTER | 2,244,581 | - | (722,251 | ) | 484,828 | 1,037,502 | 1,522,330 | 109,142 | 1,413,187 | - | 2002 | ||||||||||||||||||||||||||||||||||
GATEWAY STATION | 1,373,692 | 28,145,158 | 1,189 | 1,374,880 | 28,145,158 | 29,520,038 | 1,583,288 | 27,936,750 | - | 2011 | |||||||||||||||||||||||||||||||||||
BAYTOWN | 500,422 | 2,431,651 | 790,598 | 500,422 | 3,222,249 | 3,722,671 | 1,275,920 | 2,446,751 | - | 1996 | |||||||||||||||||||||||||||||||||||
LAS TIENDAS PLAZA | 8,678,107 | - | 25,971,206 | 7,943,925 | 26,705,388 | 34,649,313 | 3,106,524 | 31,542,789 | - | 2005 | |||||||||||||||||||||||||||||||||||
CORPUS CHRISTI, TX | - | 944,562 | 3,526,281 | - | 4,470,843 | 4,470,843 | 1,335,772 | 3,135,070 | - | 1997 | |||||||||||||||||||||||||||||||||||
ISLAND GATE PLAZA | 4,343,000 | 4,723,215 | 647,677 | 4,343,000 | 5,370,892 | 9,713,892 | 541,777 | 9,172,115 | - | 2011 | |||||||||||||||||||||||||||||||||||
PRESTON LEBANON CROSSING | 13,552,180 | - | 26,160,828 | 12,163,694 | 27,549,314 | 39,713,008 | 3,238,871 | 36,474,137 | - | 2006 | |||||||||||||||||||||||||||||||||||
LAKE PRAIRIE TOWN CROSSING | 7,897,491 | - | 26,295,311 | 6,783,464 | 27,409,338 | 34,192,802 | 3,381,536 | 30,811,266 | - | 2006 | |||||||||||||||||||||||||||||||||||
CENTER AT BAYBROOK | 6,941,017 | 27,727,491 | 9,078,279 | 6,928,120 | 36,818,666 | 43,746,787 | 12,390,597 | 31,356,190 | - | 1998 | |||||||||||||||||||||||||||||||||||
CYPRESS TOWNE CENTER | 6,033,932 | - | 1,562,808 | 2,251,666 | 5,345,074 | 7,596,740 | 368,953 | 7,227,787 | - | 2003 | |||||||||||||||||||||||||||||||||||
ATASCOCITA COMMONS SHOP.CTR. | 16,322,636 | 54,587,066 | - | 16,322,636 | 54,587,066 | 70,909,702 | - | 70,909,702 | 29,450,689 | 2013 | |||||||||||||||||||||||||||||||||||
TOMBALL CROSSINGS | 8,517,427 | 28,484,450 | - | 8,517,427 | 28,484,450 | 37,001,877 | - | 37,001,877 | - | 2013 | |||||||||||||||||||||||||||||||||||
SHOPS AT VISTA RIDGE | 3,257,199 | 13,029,416 | 743,364 | 3,257,199 | 13,772,780 | 17,029,979 | 5,580,869 | 11,449,110 | - | 1998 | |||||||||||||||||||||||||||||||||||
VISTA RIDGE PLAZA | 2,926,495 | 11,716,483 | 1,980,576 | 2,926,495 | 13,697,060 | 16,623,554 | 5,487,373 | 11,136,181 | - | 1998 | |||||||||||||||||||||||||||||||||||
VISTA RIDGE PHASE II | 2,276,575 | 9,106,300 | 1,333,509 | 2,276,575 | 10,439,809 | 12,716,384 | 3,886,219 | 8,830,165 | - | 1998 | |||||||||||||||||||||||||||||||||||
SOUTH PLAINES PLAZA, TX | 1,890,000 | 7,555,099 | 429,355 | 1,890,000 | 7,984,454 | 9,874,454 | 3,179,395 | 6,695,059 | - | 1998 | |||||||||||||||||||||||||||||||||||
LAKE JACKSON | 1,562,328 | 4,144,212 | - | 1,562,328 | 4,144,212 | 5,706,540 | 459,672 | 5,246,868 | - | 2012 | |||||||||||||||||||||||||||||||||||
MESQUITE | 520,340 | 2,081,356 | 1,081,051 | 520,340 | 3,162,408 | 3,682,747 | 1,468,495 | 2,214,253 | - | 1995 | |||||||||||||||||||||||||||||||||||
MESQUITE TOWN CENTER | 3,757,324 | 15,061,644 | 1,554,109 | 3,757,324 | 16,615,753 | 20,373,077 | 6,999,730 | 13,373,347 | - | 1998 | |||||||||||||||||||||||||||||||||||
NEW BRAUNSFELS | 840,000 | 3,360,000 | - | 840,000 | 3,360,000 | 4,200,000 | 906,484 | 3,293,516 | - | 2003 | |||||||||||||||||||||||||||||||||||
PARKER PLAZA | 7,846,946 | - | - | 7,846,946 | - | 7,846,946 | - | 7,846,946 | - | 2005 | |||||||||||||||||||||||||||||||||||
PLANO | 500,414 | 2,830,835 | - | 500,414 | 2,830,835 | 3,331,249 | 1,246,719 | 2,084,530 | - | 1996 | |||||||||||||||||||||||||||||||||||
SOUTHLAKE OAKS | 3,011,260 | 7,703,844 | (62,791 | ) | 3,019,951 | 7,632,363 | 10,652,313 | 2,164,900 | 8,487,413 | 6,109,387 | 2008 | ||||||||||||||||||||||||||||||||||
INITIAL COST | TOTAL COST, | ||||||||||||||||||||||||||||||||||||||||||||
LAND | BUILDING | SUBSEQUENT | LAND | BUILDING | TOTAL | ACCUMULATED DEPRECIATION | NET OF | ENCUMBRANCES | DATE OF | DATE OF | |||||||||||||||||||||||||||||||||||
& | TO ACQUISITION | & | ACCUMULATED | ACQUISITION | CONSTRUCTION | ||||||||||||||||||||||||||||||||||||||||
IMPROVEMENT | IMPROVEMENT | DEPRECIATION | (A) | (C) | |||||||||||||||||||||||||||||||||||||||||
WOODBRIDGE SHOPPING CENTER | 2,568,705 | 6,813,716 | - | 2,568,705 | 6,813,716 | 9,382,421 | 445,106 | 8,937,316 | - | 2012 | |||||||||||||||||||||||||||||||||||
WEST OAKS | 500,422 | 2,001,687 | 325,191 | 500,422 | 2,326,878 | 2,827,300 | 934,745 | 1,892,555 | - | 1996 | |||||||||||||||||||||||||||||||||||
OGDEN | 213,818 | 855,275 | 4,084,007 | 850,699 | 4,302,401 | 5,153,100 | 2,046,540 | 3,106,560 | - | 1967 | |||||||||||||||||||||||||||||||||||
COLONIAL HEIGHTS | 125,376 | 3,476,073 | 1,644,634 | 125,376 | 5,120,708 | 5,246,084 | 1,348,964 | 3,897,120 | - | 1999 | |||||||||||||||||||||||||||||||||||
OLD TOWN VILLAGE | 4,500,000 | 41,569,735 | (2,446,887 | ) | 4,240,387 | 39,382,461 | 43,622,847 | 3,251,553 | 40,371,295 | - | 2007 | ||||||||||||||||||||||||||||||||||
RICHMOND | 82,544 | 2,289,288 | 280,600 | 82,544 | 2,569,889 | 2,652,432 | 798,703 | 1,853,729 | - | 1999 | |||||||||||||||||||||||||||||||||||
RICHMOND | 670,500 | 2,751,375 | - | 670,500 | 2,751,375 | 3,421,875 | 1,311,843 | 2,110,032 | - | 1995 | |||||||||||||||||||||||||||||||||||
VALLEY VIEW SHOPPING CENTER | 3,440,018 | 8,054,004 | 922,790 | 3,440,018 | 8,976,794 | 12,416,812 | 2,264,879 | 10,151,933 | - | 2004 | |||||||||||||||||||||||||||||||||||
POTOMAC RUN PLAZA | 27,369,515 | 48,451,209 | (119,969 | ) | 27,369,515 | 48,331,240 | 75,700,755 | 11,426,111 | 64,274,644 | - | 2008 | ||||||||||||||||||||||||||||||||||
AUBURN NORTH | 7,785,841 | 18,157,625 | 219,761 | 7,785,841 | 18,377,386 | 26,163,228 | 5,439,154 | 20,724,074 | - | 2007 | |||||||||||||||||||||||||||||||||||
THE MARKETPLACE AT FACTORIA | 60,502,358 | 92,696,231 | 991,958 | 60,502,358 | 93,688,190 | 154,190,548 | 2,975,325 | 151,215,222 | 56,969,809 | 2013 | |||||||||||||||||||||||||||||||||||
FRONTIER VILLAGE SHOPPING CTR. | 10,750,863 | 34,699,792 | 96,299 | 10,750,863 | 34,796,091 | 45,546,954 | 2,049,215 | 43,497,739 | 32,030,743 | 2012 | |||||||||||||||||||||||||||||||||||
OLYMPIA WEST OUTPARCEL | 360,000 | 799,640 | 100,360 | 360,000 | 900,000 | 1,260,000 | 33,234 | 1,226,766 | - | 2012 | |||||||||||||||||||||||||||||||||||
SILVERDALE PLAZA | 3,875,013 | 32,114,921 | 205,450 | 3,875,013 | 32,320,372 | 36,195,384 | 1,897,248 | 34,298,137 | 24,782,374 | 2012 | |||||||||||||||||||||||||||||||||||
CHARLES TOWN | 602,000 | 3,725,871 | 11,269,416 | 602,000 | 14,995,287 | 15,597,287 | 9,032,858 | 6,564,429 | - | 1985 | |||||||||||||||||||||||||||||||||||
BLUE RIDGE | 12,346,900 | 71,529,796 | (15,786,679 | ) | 15,872,618 | 52,217,399 | 68,090,017 | 17,510,234 | 50,579,783 | 14,201,702 | 2005 | ||||||||||||||||||||||||||||||||||
MICROPROPERTIES | 24,206,390 | 56,481,576 | 11,349,660 | 31,046,618 | 60,991,008 | 92,037,626 | 4,482,036 | 87,555,590 | - | 2012 | |||||||||||||||||||||||||||||||||||
KRC NORTH LOAN IV, INC. | 23,516,663 | - | - | 23,516,663 | - | 23,516,663 | - | 23,516,663 | - | 2013 | |||||||||||||||||||||||||||||||||||
CHILE-VINA DEL MAR | 11,096,948 | 720,781 | 53,378,285 | 15,638,022 | 49,557,992 | 65,196,014 | 1,849,710 | 63,346,304 | 41,570,764 | 2008 | |||||||||||||||||||||||||||||||||||
MEXICO-HERMOSILLO | 11,424,531 | - | 33,606,962 | 11,873,061 | 33,158,432 | 45,031,493 | 3,340,207 | 41,691,287 | - | 2008 | |||||||||||||||||||||||||||||||||||
MEXICO-GIGANTE ACQ. | 7,568,417 | 19,878,026 | (3,343,896 | ) | 5,836,315 | 18,266,232 | 24,102,547 | 4,878,095 | 19,224,453 | - | 2007 | ||||||||||||||||||||||||||||||||||
MEXICO-MOTOROLA | 47,272,528 | - | 34,956,118 | 28,619,571 | 53,609,075 | 82,228,646 | 4,912,956 | 77,315,691 | - | 2006 | |||||||||||||||||||||||||||||||||||
MEXICO-NON ADM BT-LOS CABOS | 10,873,070 | 1,257,517 | 9,046,008 | 9,081,452 | 12,095,143 | 21,176,595 | 2,617,470 | 18,559,126 | - | 2007 | |||||||||||||||||||||||||||||||||||
MEXICO-PLAZA SORIANA | 2,639,975 | 346,945 | 242,225 | 2,375,782 | 853,364 | 3,229,145 | 3,229,145 | - | 2007 | ||||||||||||||||||||||||||||||||||||
MEXICO-PLAZA CENTENARIO | 3,388,861 | - | (778,064 | ) | 758,346 | 1,852,451 | 2,610,797 | 781,148 | 1,829,649 | - | 2007 | ||||||||||||||||||||||||||||||||||
MEXICO-NONADM BUS-NUEVO LAREDO | 10,627,540 | - | 19,873,813 | 8,652,949 | 21,848,404 | 30,501,353 | 5,262,617 | 25,238,735 | - | 2006 | |||||||||||||||||||||||||||||||||||
MEXICO-NON ADM-PLAZA LAGO REAL | 11,336,743 | - | 7,977,346 | 6,088,198 | 13,225,890 | 19,314,089 | 996,168 | 18,317,920 | - | 2007 | |||||||||||||||||||||||||||||||||||
MEXICO-NON ADM -PLAZA SAN JUAN | 9,631,035 | - | 1,578,198 | 5,349,714 | 5,859,518 | 11,209,232 | 842,139 | 10,367,093 | - | 2006 | |||||||||||||||||||||||||||||||||||
MEXICO-RIO BRAVO HEB | 2,970,663 | - | 1,301,688 | 398,177 | 3,874,174 | 4,272,351 | 2,469,131 | 1,803,220 | - | 2008 | |||||||||||||||||||||||||||||||||||
MEXICO-SAN PEDRO | 3,309,654 | 13,238,616 | (3,146,306 | ) | 3,426,353 | 9,975,610 | 13,401,964 | 6,783,319 | 6,618,644 | - | 2006 | ||||||||||||||||||||||||||||||||||
MEXICO-TAPACHULA | 13,716,428 | - | 18,216,802 | 9,997,538 | 21,935,692 | 31,933,230 | 2,541,559 | 29,391,670 | - | 2007 | |||||||||||||||||||||||||||||||||||
MEXICO-TIJUANA 2000 LAND PURCHASE | 1,200,000 | - | 56,420 | 1,256,420 | 1,256,420 | 1,256,420 | - | 2009 | |||||||||||||||||||||||||||||||||||||
MEXICO-WALDO ACQ. | 8,929,278 | 16,888,627 | (4,216,111 | ) | 7,098,996 | 14,502,798 | 21,601,794 | 2,890,196 | 18,711,598 | - | 2007 | ||||||||||||||||||||||||||||||||||
PERU-CAMPOY | 2,675,461 | - | 556,149 | 2,746,153 | 485,458 | 3,231,611 | 3,231,611 | - | 2011 | ||||||||||||||||||||||||||||||||||||
PERU-LIMA | 811,916 | - | 2,029,367 | 784,798 | 2,056,485 | 2,841,283 | 156,476 | 2,684,807 | - | 2008 | |||||||||||||||||||||||||||||||||||
BALANCE OF PORTFOLIO | 1,907,178 | 65,127,204 | (0 | ) | 1,907,178 | 65,127,204 | 67,034,382 | 35,636,515 | 31,397,866 | - | |||||||||||||||||||||||||||||||||||
TOTALS | 2,161,328,855 | 5,255,028,761 | 1,706,986,253 | 2,100,199,696 | 7,023,144,173 | 9,123,343,869 | 1,878,680,836 | 7,244,663,033 | 1,035,353,602 | ||||||||||||||||||||||||||||||||||||
Depreciation and amortization are provided on the straight-line method over the estimated useful lives of the assets as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Buildings (years) | 15 | to | 50 | ||||||||||||||||||||||||||||||||||||||||||
Fixtures, building and leasehold improvements (including certain identified intangible assets) | Terms of leases or useful lives, whichever is shorter | ||||||||||||||||||||||||||||||||||||||||||||
The aggregate cost for Federal income tax purposes was approximately $8.0 billion at December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
The changes in total real estate assets for the years ended December 31, 2013, 2012 and 2011, are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | 8,947,286,646 | 8,771,256,852 | 8,587,378,001 | ||||||||||||||||||||||||||||||||||||||||||
Acquisitions | 475,108,219 | 411,166,315 | 406,431,259 | ||||||||||||||||||||||||||||||||||||||||||
Improvements | 107,411,806 | 85,801,777 | 118,072,955 | ||||||||||||||||||||||||||||||||||||||||||
Transfers from (to) unconsolidated joint ventures | 317,995,154 | 212,231,319 | (49,812,485 | ) | |||||||||||||||||||||||||||||||||||||||||
Sales | (559,328,593 | ) | (503,767,086 | ) | (186,887,870 | ) | |||||||||||||||||||||||||||||||||||||||
Assets held for sale | (77,664,078 | ) | (9,845,065 | ) | (4,503,823 | ) | |||||||||||||||||||||||||||||||||||||||
Adjustment of fully depreciated asset | (4,780,841 | ) | (21,711,782 | ) | (27,412,282 | ) | |||||||||||||||||||||||||||||||||||||||
Adjustment of property carrying values | (69,463,649 | ) | (34,121,504 | ) | (4,616,890 | ) | |||||||||||||||||||||||||||||||||||||||
Change in exchange rate | (13,220,795 | ) | 36,275,820 | (67,392,013 | ) | ||||||||||||||||||||||||||||||||||||||||
Balance, end of period | 9,123,343,869 | 8,947,286,646 | 8,771,256,852 | ||||||||||||||||||||||||||||||||||||||||||
The changes in accumulated depreciation for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | 1,745,461,577 | 1,693,089,989 | 1,549,380,256 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation for year | 243,011,431 | 248,426,786 | 237,782,626 | ||||||||||||||||||||||||||||||||||||||||||
Transfers (to) unconsolidated joint ventures | - | (8,390,550 | ) | (2,725,794 | ) | ||||||||||||||||||||||||||||||||||||||||
Sales | (96,915,316 | ) | (161,515,292 | ) | (59,086,170 | ) | |||||||||||||||||||||||||||||||||||||||
Adjustment of fully depreciated asset | (4,780,841 | ) | (21,711,782 | ) | (27,412,282 | ) | |||||||||||||||||||||||||||||||||||||||
Assets held for sale | (7,351,096 | ) | (6,582,611 | ) | (633,676 | ) | |||||||||||||||||||||||||||||||||||||||
Change in exchange rate | (744,919 | ) | 2,145,037 | (4,214,971 | ) | ||||||||||||||||||||||||||||||||||||||||
Balance, end of period | 1,878,680,836 | 1,745,461,577 | 1,693,089,989 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications: | |||||||||||||||||||||||||||||||||||||||||||||
Certain amounts in the prior period have been reclassified in order to conform with the current period's presentation. |
Schedule_IV_Mortgage_Loans_on_
Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Mortgage Loans on Real Estate [Abstract] | ' | |||||||||
Mortgage Loans on Real Estate, by Loan Disclosure [Text Block] | ' | |||||||||
KIMCO REALTY CORPORATION AND SUBSIDIARIES | ||||||||||
Schedule IV - Mortgage Loans on Real Estate | ||||||||||
As of December 31, 2013 | ||||||||||
(in thousands) | ||||||||||
Type of Loan/Borrower | Description | Location (c) | Interest Accrual Rates | Interest Payment Rates | Final Maturity Date | Periodic Payment Terms (a) | Prior Liens | Face Amount of Mortgages or Maximum Available Credit (b) | Carrying Amount of Mortgages (b) (c) | |
Mortgage Loans: | ||||||||||
Borrower A | Retail | Westport, CT | 6.50% | 6.50% | 3/4/33 | I | - | $5,014 | $5,014 | |
Borrower B | Retail | Miami, FL | 7.57% | 7.57% | 6/1/19 | P& I | - | 6,509 | 3,556 | |
Borrower C | NonRetail | Toronto, ON | 7.00% | 7.00% | 3/28/18 | P& I | - | 3,513 | 3,285 | |
Borrower D | Retail | Las Vegas, NV | 10.00% | 10.00% | 5/14/33 | I | - | 3,075 | 3,075 | |
Borrower E | Retail | Arboledas, Mexico | 8.75% | 8.75% | 5/16/14 | P& I | - | 13,000 | 2,931 | |
Borrower F | Retail | Miami, FL | 7.57% | 7.57% | 6/1/19 | P& I | - | 4,201 | 2,504 | |
Borrower G | Retail | Miami, FL | 7.57% | 7.57% | 6/1/19 | P& I | - | 3,966 | 2,476 | |
Borrower H | Retail | Miami, FL | 7.57% | 7.57% | 6/1/19 | P& I | - | 3,678 | 2,293 | |
Borrower I | NonRetail | Oakbrook Terrrace, IL | 6.00% | 6.00% | 12/9/24 | I | - | 1,950 | 1,950 | |
Individually < 3% | (d) | (e) | (e) | (f) | - | 4,872 | 2,631 | |||
49,778 | 29,715 | |||||||||
Other: | ||||||||||
Individually < 3% | (g) | (g) | (h) | 600 | 515 | |||||
Capitalized loan costs | - | 13 | ||||||||
Total | $50,378 | $30,243 | ||||||||
(a) I =nterest only; P&I =rincipal & Interest | ||||||||||
(b) The instruments actual cash flows are denominated in U.S. dollars, Canadian dollars and Mexican pesos as indicated by the geographic location above | ||||||||||
(c) The aggregate cost for Federal income tax purposes is $30.2 million | ||||||||||
(d) Comprised of six separate loans with original loan amounts ranging between $0.4 million and $1.5 million | ||||||||||
(e) Interest rates range from 6.88% to 10.00% | ||||||||||
(f) Maturity dates range from 11 months to 17 years | ||||||||||
(g) Interest rate 2.28% | ||||||||||
(h) Maturity date 4/1/2027 | ||||||||||
For a reconcilition of mortgage and other financing receivables from January 1, 2011 to December 31, 2013 see Note 10 of the Notes to Consolidated Financial Statements included in this annual report of Form 10K. | ||||||||||
The Company feels it is not practicable to estimate the fair value of each receivable as quoted market prices are not available. | ||||||||||
The cost of obtaining an independent valuation on these assets is deemed excessive considering the materiality of the total receivables. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||||||
Business | |||||||||||||
Kimco Realty Corporation and subsidiaries (the "Company" or "Kimco"), affiliates and related real estate joint ventures are engaged principally in the operation of neighborhood and community shopping centers which are anchored generally by discount department stores, supermarkets or drugstores. The Company also provides property management services for shopping centers owned by affiliated entities, various real estate joint ventures and unaffiliated third parties. | |||||||||||||
Additionally, in connection with the Tax Relief Extension Act of 1999 (the "RMA"), which became effective January 1, 2001, the Company is permitted to participate in activities which it was precluded from previously in order to maintain its qualification as a Real Estate Investment Trust ("REIT"), so long as these activities are conducted in entities which elect to be treated as taxable subsidiaries under the Internal Revenue Code, as amended (the "Code"), subject to certain limitations. As such, the Company, through its wholly-owned taxable REIT subsidiaries (“TRS”), has been engaged in various retail real estate related opportunities including (i) ground-up development of neighborhood and community shopping centers and the subsequent sale thereof upon completion and (ii) retail real estate management and disposition services which primarily focuses on leasing and disposition strategies of retail real estate controlled by both healthy and distressed and/or bankrupt retailers. The Company may consider other investments through its TRS should suitable opportunities arise. | |||||||||||||
The Company seeks to reduce its operating and leasing risks through diversification achieved by the geographic distribution of its properties, avoiding dependence on any single property and a large tenant base. At December 31, 2013, the Company's single largest neighborhood and community shopping center accounted for only 1.7% of the Company's annualized base rental revenues and only 1.3% of the Company’s total shopping center gross leasable area ("GLA"), including the proportionate share of base rental revenues from properties in which the Company has less than a 100% economic interest. At December 31, 2013, the Company’s five largest tenants were TJX Companies, The Home Depot, Wal-Mart, Bed Bath & Beyond, and Kohl’s which represented 3.0%, 2.8%, 2.3%, 1.8% and 1.7%, respectively, of the Company’s annualized base rental revenues, including the proportionate share of base rental revenues from properties in which the Company has less than a 100% economic interest. | |||||||||||||
The principal business of the Company and its consolidated subsidiaries is the ownership, management, development and operation of retail shopping centers, including complementary services that capitalize on the Company’s established retail real estate expertise. The Company evaluates performance on a property specific or transactional basis and does not distinguish its principal business or group its operations on a geographical basis for purposes of measuring performance. Accordingly, the Company believes it has a single reportable segment for disclosure purposes in accordance with accounting principles generally accepted in the United States of America ("GAAP"). | |||||||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||||||
Principles of Consolidation and Estimates | |||||||||||||
The accompanying Consolidated Financial Statements include the accounts of Kimco Realty Corporation and subsidiaries (the “Company”). The Company’s subsidiaries includes subsidiaries which are wholly-owned and all entities in which the Company has a controlling interest, including where the Company has been determined to be a primary beneficiary of a variable interest entity (“VIE”) or meets certain criteria of a sole general partner or managing member in accordance with the Consolidation guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). All inter-company balances and transactions have been eliminated in consolidation. | |||||||||||||
GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and related intangible assets and liabilities, equity method investments, marketable securities and other investments, including the assessment of impairments, as well as, depreciable lives, revenue recognition, the collectability of trade accounts receivable, realizability of deferred tax assets and the assessment of uncertain tax positions. Application of these assumptions requires the exercise of judgment as to future uncertainties, and, as a result, actual results could differ from these estimates. | |||||||||||||
Subsequent Events, Policy [Policy Text Block] | ' | ||||||||||||
Events | |||||||||||||
The Company has evaluated subsequent events and transactions for potential recognition or disclosure in its consolidated financial statements. | |||||||||||||
Real Estate, Policy [Policy Text Block] | ' | ||||||||||||
Real Estate | |||||||||||||
Real estate assets are stated at cost, less accumulated depreciation and amortization. Upon acquisition of real estate operating properties, the Company estimates the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases, in-place leases and tenant relationships, where applicable), assumed debt and redeemable units issued at the date of acquisition, based on evaluation of information and estimates available at that date. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a retrospective basis. The Company expenses transaction costs associated with business combinations in the period incurred. | |||||||||||||
In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the present value of the difference between the contractual amounts, including fixed rate below-market lease renewal options, to be paid pursuant to the leases and management’s estimate of the market lease rates and other lease provisions (i.e., expense recapture, base rental changes, etc.) measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market intangible is amortized to rental income over the estimated remaining term of the respective leases, which includes the expected renewal option period. Mortgage debt discounts or premiums are amortized into interest expense over the remaining term of the related debt instrument. Unit discounts and premiums are amortized into noncontrolling interest in income, net over the period from the date of issuance to the earliest redemption date of the units. | |||||||||||||
In determining the value of in-place leases, management considers current market conditions and costs to execute similar leases in arriving at an estimate of the carrying costs during the expected lease-up period from vacant to existing occupancy. In estimating carrying costs, management includes real estate taxes, insurance, other operating expenses, estimates of lost rental revenue during the expected lease-up periods and costs to execute similar leases including leasing commissions, legal and other related costs based on current market demand. The value assigned to in-place leases and tenant relationships is amortized over the estimated remaining term of the leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs relating to that lease would be written off. | |||||||||||||
Depreciation and amortization are provided on the straight-line method over the estimated useful lives of the assets, as follows: | |||||||||||||
Buildings and building improvements | 15 to 50 years | ||||||||||||
Fixtures, leasehold and tenant improvements (including certain identified intangible assets) | Terms of leases or useful lives, whichever is shorter | ||||||||||||
Expenditures for maintenance and repairs are charged to operations as incurred. Significant renovations and replacements, which improve or extend the life of the asset, are capitalized. The useful lives of amortizable intangible assets are evaluated each reporting period with any changes in estimated useful lives being accounted for over the revised remaining useful life. | |||||||||||||
When a real estate asset is identified by management as held-for-sale, the Company ceases depreciation of the asset and estimates the sales price, net of selling costs. If the net sales price of the asset is less than the net book value of the asset, an adjustment to the carrying value would be recorded to reflect the estimated fair value of the property. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may be impaired. A property value is considered impaired only if management’s estimate of current and projected operating cash flows (undiscounted and unleveraged) of the property over its remaining useful life is less than the net carrying value of the property. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. To the extent impairment has occurred, the carrying value of the property would be adjusted to an amount to reflect the estimated fair value of the property. | |||||||||||||
Real Estate Held for Development and Sale, Policy [Policy Text Block] | ' | ||||||||||||
Real Estate Under Development | |||||||||||||
Real estate under development represents both the ground-up development of neighborhood and community shopping center projects which may be subsequently sold upon completion and projects which the Company may hold as long-term investments. These properties are carried at cost. The cost of land and buildings under development includes specifically identifiable costs. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs of personnel directly involved and other costs incurred during the period of development. The Company ceases cost capitalization when the property is held available for occupancy upon substantial completion of tenant improvements, but no later than one year from the completion of major construction activity. If, in management’s opinion, the net sales price of assets held for resale or the current and projected undiscounted cash flows of these assets to be held as long-term investments is less than the net carrying value, the carrying value would be adjusted to an amount that reflects the estimated fair value of the property. | |||||||||||||
Equity and Cost Method Investments, Policy [Policy Text Block] | ' | ||||||||||||
Investments in Unconsolidated Joint Ventures | |||||||||||||
The Company accounts for its investments in unconsolidated joint ventures under the equity method of accounting as the Company exercises significant influence, but does not control these entities. These investments are recorded initially at cost and subsequently adjusted for cash contributions and distributions. Earnings for each investment are recognized in accordance with each respective investment agreement and where applicable, based upon an allocation of the investment’s net assets at book value as if the investment was hypothetically liquidated at the end of each reporting period. | |||||||||||||
The Company’s joint ventures and other real estate investments primarily consist of co-investments with institutional and other joint venture partners in neighborhood and community shopping center properties, consistent with its core business. These joint ventures typically obtain non-recourse third-party financing on their property investments, thus contractually limiting the Company’s exposure to losses primarily to the amount of its equity investment; and due to the lender’s exposure to losses, a lender typically will require a minimum level of equity in order to mitigate its risk. The Company, on a limited selective basis, has obtained unsecured financing for certain joint ventures. These unsecured financings are guaranteed by the Company with guarantees from the joint venture partners for their proportionate amounts of any guaranty payment the Company is obligated to make. | |||||||||||||
To recognize the character of distributions from equity investees the Company reviews the nature of the cash distribution to determine the proper character of cash flow distributions as either returns on investment, which would be included in operating activities or returns of investment, which would be included in investing activities. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators, including the underlying investment property operating performance and general market conditions, that the value of the Company’s investments in unconsolidated joint ventures may be impaired. An investment’s value is impaired only if management’s estimate of the fair value of the investment is less than the carrying value of the investment and such difference is deemed to be other-than-temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. | |||||||||||||
The Company’s estimated fair values are based upon a discounted cash flow model for each joint venture that includes all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums. Capitalization rates, discount rates and credit spreads utilized in these models are based upon rates that the Company believes to be within a reasonable range of current market rates. | |||||||||||||
Other Real Estate Investments | |||||||||||||
Other real estate investments primarily consist of preferred equity investments for which the Company provides capital to owners and developers of real estate. The Company typically accounts for its preferred equity investments on the equity method of accounting, whereby earnings for each investment are recognized in accordance with each respective investment agreement and based upon an allocation of the investment’s net assets at book value as if the investment was hypothetically liquidated at the end of each reporting period. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators, including the underlying investment property operating performance and general market conditions, that the value of the Company’s Other real estate investments may be impaired. An investment’s value is impaired only if management’s estimate of the fair value of the investment is less than the carrying value of the investment and such difference is deemed to be other-than-temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. | |||||||||||||
The Company’s estimated fair values are based upon a discounted cash flow model for each investment that includes all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums. Capitalization rates, discount rates and credit spreads utilized in these models are based upon rates that the Company believes to be within a reasonable range of current market rates. | |||||||||||||
Investment, Policy [Policy Text Block] | ' | ||||||||||||
Other Real Estate Investments | |||||||||||||
Other real estate investments primarily consist of preferred equity investments for which the Company provides capital to owners and developers of real estate. The Company typically accounts for its preferred equity investments on the equity method of accounting, whereby earnings for each investment are recognized in accordance with each respective investment agreement and based upon an allocation of the investment’s net assets at book value as if the investment was hypothetically liquidated at the end of each reporting period. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators, including the underlying investment property operating performance and general market conditions, that the value of the Company’s Other real estate investments may be impaired. An investment’s value is impaired only if management’s estimate of the fair value of the investment is less than the carrying value of the investment and such difference is deemed to be other-than-temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. | |||||||||||||
The Company’s estimated fair values are based upon a discounted cash flow model for each investment that includes all estimated cash inflows and outflows over a specified holding period and, where applicable, any estimated debt premiums. Capitalization rates, discount rates and credit spreads utilized in these models are based upon rates that the Company believes to be within a reasonable range of current market rates. | |||||||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | ||||||||||||
Mortgages and Other Financing Receivables | |||||||||||||
Mortgages and other financing receivables consist of loans acquired and loans originated by the Company. Borrowers of these loans are primarily experienced owners, operators or developers of commercial real estate. The Company’s loans are primarily mortgage loans that are collateralized by real estate. Loan receivables are recorded at stated principal amounts, net of any discount or premium or deferred loan origination costs or fees. The related discounts or premiums on mortgages and other loans purchased are amortized or accreted over the life of the related loan receivable. The Company defers certain loan origination and commitment fees, net of certain origination costs and amortizes them as an adjustment of the loan’s yield over the term of the related loan. The Company reviews on a quarterly basis credit quality indicators such as (i) payment status to identify performing versus non-performing loans, (ii) changes affecting the underlying real estate collateral and (iii) national and regional economic factors. | |||||||||||||
Interest income on performing loans is accrued as earned. A non-performing loan is placed on non-accrual status when it is probable that the borrower may be unable to meet interest payments as they become due. Generally, loans 90 days or more past due are placed on non-accrual status unless there is sufficient collateral to assure collectability of principal and interest. Upon the designation of non-accrual status, all unpaid accrued interest is reserved against through current income. Interest income on non-performing loans is generally recognized on a cash basis. Recognition of interest income on non-performing loans on an accrual basis is resumed when it is probable that the Company will be able to collect amounts due according to the contractual terms. | |||||||||||||
The Company has determined that it has one portfolio segment, primarily represented by loans collateralized by real estate, whereby it determines, as needed, reserves for loan losses on an asset-specific basis. The reserve for loan losses reflects management's estimate of loan losses as of the balance sheet date. The reserve is increased through loan loss expense and is decreased by charge-offs when losses are confirmed through the receipt of assets such as cash or via ownership control of the underlying collateral in full satisfaction of the loan upon foreclosure or when significant collection efforts have ceased. | |||||||||||||
The Company considers a loan to be impaired when, based upon current information and events, it is probable that the Company will be unable to collect all amounts due under the existing contractual terms. A reserve allowance is established for an impaired loan when the estimated fair value of the underlying collateral (for collateralized loans) or the present value of expected future cash flows is lower than the carrying value of the loan. An internal valuation is performed generally using the income approach to estimate the fair value of the collateral at the time a loan is determined to be impaired. The model is updated if circumstances indicate a significant change in value has occurred. The Company does not provide for an additional allowance for loan losses based on the grouping of loans as the Company believes the characteristics of the loans are not sufficiently similar to allow an evaluation of these loans as a group for a possible loan loss allowance. As such, all of the Company’s loans are evaluated individually for impairment purposes. | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
Cash and cash equivalents (demand deposits in banks, commercial paper and certificates of deposit with original maturities of three months or less). Cash and cash equivalent balances may, at a limited number of banks and financial institutions, exceed insurable amounts. The Company believes it mitigates risk by investing in or through major financial institutions and primarily in funds that are currently U.S. federal government insured. Recoverability of investments is dependent upon the performance of the issuers. | |||||||||||||
Marketable Securities, Policy [Policy Text Block] | ' | ||||||||||||
Marketable Securities | |||||||||||||
The Company classifies its marketable equity securities as available-for-sale in accordance with the FASB’s Investments-Debt and Equity Securities guidance. These securities are carried at fair market value with unrealized gains and losses reported in stockholders’ equity as a component of Accumulated other comprehensive income ("AOCI"). Gains or losses on securities sold are based on the specific identification method. | |||||||||||||
All debt securities are generally classified as held-to-maturity because the Company has the positive intent and ability to hold the securities to maturity. It is more likely than not that the Company will not be required to sell the debt security before its anticipated recovery and the Company expects to recover the security’s entire amortized cost basis even if the entity does not intend to sell. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity. Debt securities which contain conversion features generally are classified as available-for-sale. | |||||||||||||
On a continuous basis, management assesses whether there are any indicators that the value of the Company’s marketable securities may be impaired, which includes reviewing the underlying cause of any decline in value and the estimated recovery period, as well as the severity and duration of the decline. In the Company’s evaluation, the Company considers its ability and intent to hold these investments for a reasonable period of time sufficient for the Company to recover its cost basis. A marketable security is impaired if the fair value of the security is less than the carrying value of the security and such difference is deemed to be other-than-temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the security over the estimated fair value in the security. | |||||||||||||
Deferred Charges, Policy [Policy Text Block] | ' | ||||||||||||
Deferred Leasing and Financing Costs | |||||||||||||
Costs incurred in obtaining tenant leases and long-term financing, included in deferred charges and prepaid expenses in the accompanying Consolidated Balance Sheets, are amortized on a straight-line basis, which approximates the effective interest method, over the terms of the related leases or debt agreements, as applicable. Such capitalized costs include salaries, lease incentives and related costs of personnel directly involved in successful leasing efforts. | |||||||||||||
Internal Use Software, Policy [Policy Text Block] | ' | ||||||||||||
Software Development Costs | |||||||||||||
Expenditures for major software purchases and software developed for internal use are capitalized and amortized on a straight-line basis generally over a 3 to 5 year period. The Company’s policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance and all other post-implementation stage activities are expensed as incurred. As of December 31, 2013 and 2012, the Company had unamortized software development costs of $28.2 million and $26.8 million, respectively, which is included in Other assets on the Company’s Consolidated Balance Sheets. The Company incurred $7.6 million, $5.5 million and $3.1 million in amortization of software development costs during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||||
Revenue Recognition and Accounts Receivable | |||||||||||||
Base rental revenues from rental property are recognized on a straight-line basis over the terms of the related leases. Certain of these leases also provide for percentage rents based upon the level of sales achieved by the lessee. These percentage rents are recognized once the required sales level is achieved. Rental income may also include payments received in connection with lease termination agreements. In addition, leases typically provide for reimbursement to the Company of common area maintenance costs, real estate taxes and other operating expenses. Operating expense reimbursements are recognized as earned. | |||||||||||||
Management and other fee income consists of property management fees, leasing fees, property acquisition and disposition fees, development fees and asset management fees. These fees arise from contractual agreements with third parties or with entities in which the Company has a noncontrolling interest. Management and other fee income, including acquisition and disposition fees, are recognized as earned under the respective agreements. Management and other fee income related to partially owned entities are recognized to the extent attributable to the unaffiliated interest. | |||||||||||||
Gains and losses from the sale of depreciated operating property and ground-up development projects are generally recognized using the full accrual method in accordance with the FASB’s real estate sales guidance, provided that various criteria relating to the terms of sale and subsequent involvement by the Company with the properties are met. | |||||||||||||
Gains and losses on transfers of operating properties result from the sale of a partial interest in properties to unconsolidated joint ventures and are recognized using the partial sale provisions of the FASB’s real estate sales guidance. | |||||||||||||
The Company makes estimates of the uncollectability of its accounts receivable related to base rents, straight-line rent, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company’s reported net earnings are directly affected by management’s estimate of the collectability of accounts receivable. | |||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||
Income Taxes | |||||||||||||
The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally will not be subject to federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income as defined under Section 856 through 860 of the Code. | |||||||||||||
In connection with the RMA, which became effective January 1, 2001, the Company is permitted to participate in certain activities which it was previously precluded from in order to maintain its qualification as a REIT, so long as these activities are conducted by entities which elect to be treated as taxable REIT subsidiaries under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. The Company is also subject to local taxes on certain non-U.S. investments. | |||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance for deferred tax assets for which it does not consider realization of such assets to be more likely than not. | |||||||||||||
The Company reviews the need to establish a valuation allowance against deferred tax assets on a quarterly basis. The review includes an analysis of various factors, such as future reversals of existing taxable temporary differences, the capacity for the carryback or carryforward of any losses, the expected occurrence of future income or loss and available tax planning strategies. | |||||||||||||
The Company applies the FASB’s guidance relating to uncertainty in income taxes recognized in a Company’s financial statements. Under this guidance the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also provides guidance on de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. | |||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||||||||||||
Foreign Currency Translation and Transactions | |||||||||||||
Assets and liabilities of the Company’s foreign operations are translated using year-end exchange rates, and revenues and expenses are translated using exchange rates as determined throughout the year. Gains or losses resulting from translation are included in AOCI, as a separate component of the Company’s stockholders’ equity. Gains or losses resulting from foreign currency transactions are translated to local currency at the rates of exchange prevailing at the dates of the transactions. The effect of the transactions gain or loss is included in the caption Other expense, net in the Consolidated Statements of Income. The Company is required to release cumulative translation adjustment (“CTA”) balances into earnings when the Company has substantially liquidated its investment in a foreign entity. | |||||||||||||
Derivatives, Policy [Policy Text Block] | ' | ||||||||||||
Derivative/Financial Instruments | |||||||||||||
The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risk through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company may use derivatives to manage exposures that arise from changes in interest rates, foreign currency exchange rate fluctuations and market value fluctuations of equity securities. The Company limits these risks by following established risk management policies and procedures including the use of derivatives. | |||||||||||||
The Company measures its derivative instruments at fair value and records them in the Consolidated Balance Sheet as an asset or liability, depending on the Company’s rights or obligations under the applicable derivative contract. The accounting for changes in the fair value of the derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting under the Derivatives and Hedging guidance issued by the FASB. | |||||||||||||
The effective portion of the changes in fair value of derivatives designated and that qualify as cash flow hedges is recorded in AOCI and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Any ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During 2013, 2012 and 2011, the Company had no hedge ineffectiveness. | |||||||||||||
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | ' | ||||||||||||
Noncontrolling Interests | |||||||||||||
The Company accounts for noncontrolling interests in accordance with the Consolidation guidance and the Distinguishing Liabilities from Equity guidance issued by the FASB. Noncontrolling interests represent the portion of equity that the Company does not own in those entities it consolidates. The Company identifies its noncontrolling interests separately within the equity section on the Company’s Consolidated Balance Sheets. The amounts of consolidated net earnings attributable to the Company and to the noncontrolling interests are presented separately on the Company’s Consolidated Statements of Income. | |||||||||||||
Noncontrolling interests also includes amounts related to partnership units issued by consolidated subsidiaries of the Company in connection with certain property acquisitions. These units have a stated redemption value or a defined redemption amount based upon the trading price of the Company’s common stock and provides the unit holders various rates of return during the holding period. The unit holders generally have the right to redeem their units for cash at any time after one year from issuance. For convertible units, the Company typically has the option to settle redemption amounts in cash or common stock. | |||||||||||||
The Company evaluates the terms of the partnership units issued in accordance with the FASB’s Distinguishing Liabilities from Equity guidance. Units which embody an unconditional obligation requiring the Company to redeem the units for cash after a specified or determinable date (or dates) or upon an event that is certain to occur are determined to be mandatorily redeemable under this guidance and are included as Redeemable noncontrolling interest and classified within the mezzanine section between Total liabilities and Stockholders’ equity on the Company’s Consolidated Balance Sheets. Convertible units for which the Company has the option to settle redemption amounts in cash or Common Stock are included in the caption Noncontrolling interest within the equity section on the Company’s Consolidated Balance Sheets. | |||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||
Per Share | |||||||||||||
The following table sets forth the reconciliation of earnings and the weighted-average number of shares used in the calculation of basic and diluted earnings per share (amounts presented in thousands, except per share data): | |||||||||||||
For the year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Computation of Basic Earnings Per Share: | |||||||||||||
Income from continuing operations | $ | 261,683 | $ | 210,073 | $ | 141,416 | |||||||
Gain on sale of operating properties, net of tax | 1,432 | 4,299 | 108 | ||||||||||
Net income attributable to noncontrolling interests | (5,072 | ) | (14,202 | ) | (13,039 | ) | |||||||
Discontinued operations attributable to noncontrolling interests | (8,301 | ) | 3,133 | 2,799 | |||||||||
Preferred stock redemption costs | - | (21,703 | ) | - | |||||||||
Preferred stock dividends | (58,294 | ) | (71,697 | ) | (59,363 | ) | |||||||
Income from continuing operations available to the common Shareholders | 191,448 | 109,903 | 71,921 | ||||||||||
Earnings attributable to unvested restricted shares | (1,360 | ) | (1,221 | ) | (608 | ) | |||||||
Income from continuing operations attributable to common Shareholders | 190,088 | 108,682 | 71,313 | ||||||||||
(Loss)/income from discontinued operations attributable to the Company | (13,461 | ) | 62,770 | 37,767 | |||||||||
Net income attributable to the Company’s common shareholders for basic earnings per share | $ | 176,627 | $ | 171,452 | $ | 109,080 | |||||||
Weighted average common shares outstanding | 407,631 | 405,997 | 406,530 | ||||||||||
Basic Earnings Per Share Attributable to the Company’s Common Shareholders: | |||||||||||||
Income from continuing operations | $ | 0.47 | $ | 0.27 | $ | 0.18 | |||||||
(Loss)/income from discontinued operations | (0.04 | ) | 0.15 | 0.09 | |||||||||
Net income | $ | 0.43 | $ | 0.42 | $ | 0.27 | |||||||
Computation of Diluted Earnings Per Share: | |||||||||||||
Income from continuing operations attributable to common shareholders | $ | 190,088 | $ | 108,682 | $ | 71,313 | |||||||
(Loss)/income from discontinued operations attributable to the Company | (13,461 | ) | 62,770 | 37,767 | |||||||||
Net income attributable to the Company’s common shareholders for diluted earnings per share | $ | 176,627 | $ | 171,452 | $ | 109,080 | |||||||
Weighted average common shares outstanding – basic | 407,631 | 405,997 | 406,530 | ||||||||||
Effect of dilutive securities(a): | |||||||||||||
Equity awards | 983 | 692 | 1,139 | ||||||||||
Shares for diluted earnings per common share | 408,614 | 406,689 | 407,669 | ||||||||||
Diluted Earnings Per Share Attributable to the Company’s Common Shareholders: | |||||||||||||
Income from continuing operations | $ | 0.47 | $ | 0.27 | $ | 0.18 | |||||||
(Loss)/income from discontinued operations | (0.04 | ) | 0.15 | 0.09 | |||||||||
Net income | $ | 0.43 | $ | 0.42 | $ | 0.27 | |||||||
(a) The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 10,950,388, 11,159,160 and 13,304,016, stock options that were not dilutive as of December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The Company's unvested restricted share awards contain non-forfeitable rights to distributions or distribution equivalents. The impact of the unvested restricted share awards on earnings per share has been calculated using the two-class method whereby earnings are allocated to the unvested restricted share awards based on dividends declared and the unvested restricted shares' participation rights in undistributed earnings. | |||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||||
Stock Compensation | |||||||||||||
The Company maintains two equity participation plans, the Second Amended and Restated 1998 Equity Participation Plan (the “Prior Plan”) and the 2010 Equity Participation Plan (the “2010 Plan”) (collectively, the “Plans”). The Prior Plan provides for a maximum of 47,000,000 shares of the Company’s common stock to be issued for qualified and non-qualified options and restricted stock grants. The 2010 Plan provides for a maximum of 10,000,000 shares of the Company’s common stock to be issued for qualified and non-qualified options, restricted stock, performance awards and other awards, plus the number of shares of common stock which are or become available for issuance under the Prior Plan and which are not thereafter issued under the Prior Plan, subject to certain conditions. Unless otherwise determined by the Board of Directors at its sole discretion, options granted under the Plans generally vest ratably over a range of three to five years, expire ten years from the date of grant and are exercisable at the market price on the date of grant. Restricted stock grants generally vest (i) 100% on the fourth or fifth anniversary of the grant, (ii) ratably over three or four years, (iii) over three years at 50% after two years and 50% after the third year or (iv) over ten years at 20% per year commencing after the fifth year. Performance share awards provide a potential to receive shares of restricted stock based on the Company’s performance relative to its peers, as defined, or based on other performance criteria as determined by the Board of Directors. In addition, the Plans provide for the granting of certain options and restricted stock to each of the Company’s non-employee directors (the “Independent Directors”) and permits such Independent Directors to elect to receive deferred stock awards in lieu of directors’ fees. | |||||||||||||
The Company accounts for equity awards in accordance with the FASB’s Stock Compensation guidance which requires that all share based payments to employees, be recognized in the Statement of Income over the service period based on their fair values. Fair value is determined, depending on the type of award, using either the Black-Scholes option pricing formula or the Monte Carlo method, both of which are intended to estimate the fair value of the awards at the grant date (see Footnote 20 for additional disclosure on the assumptions and methodology). | |||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||||||
New Accounting Pronouncements | |||||||||||||
In July 2013, the FASB released ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-11”). This update requires that an unrecognized tax benefit, or portion of an unrecognized tax benefit, be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. If an applicable deferred tax asset is not available or a company does not expect to use the applicable deferred tax asset, the unrecognized tax benefit should be presented as a liability in the financial statements and should not be combined with an unrelated deferred tax asset. The amendments in ASU 2013-11 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, with early adoption permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date, however retrospective application is permitted. The Company early adopted, on a prospective basis, ASU 2013-11 during 2013. The adoption of this ASU did not have a material impact on the Company’s financial position or results of operations (see Footnote 21). | |||||||||||||
Additionally, during July 2013, the FASB released ASU 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (“ASU 2013-10”). The update permits the Fed Funds Effective Swap Rate (“OIS”) to be used as a U.S. benchmark interest rate for hedge accounting purposes. In addition, the amendments remove the restriction on using different benchmark rates for similar hedges. The provisions of ASU 2013-10 are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of ASU 2013-10 did not have a material impact on the Company’s financial position or results of operations. | |||||||||||||
In February 2013, the FASB issued new guidance regarding liabilities, Accounting Standards Update ("ASU") 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (“ASU 2013-04”), effective retrospectively for fiscal years beginning after December 15, 2013 and interim periods within those years. The amendments require an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date, as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. In addition, the amendments require an entity to disclose the nature and amount of the obligation, as well as other information about the obligations. The adoption of ASU 2013-04 is not expected to have a material impact on the Company’s financial position or results of operations. | |||||||||||||
In January 2013, the FASB released ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). This guidance is the culmination of the board’s redeliberation on reporting reclassification adjustments from accumulated other comprehensive income. The standard requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source (e.g., the release due to cash flow hedges from interest rate contracts) and the income statement line items affected by the reclassification (e.g., interest income or interest expense). If a component is not required to be reclassified to net income in its entirety (e.g., the net periodic pension cost), companies would instead cross reference to the related footnote for additional information (e.g., the pension footnote). The new requirements will take effect for public companies in interim and annual reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact on the Company’s financial statement presentation or disclosures. | |||||||||||||
In December 2011, the FASB released ASU 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). ASU 2011-11 requires companies to provide new disclosures about offsetting and related arrangements for financial instruments and derivatives. The provisions of ASU 2011-11 are effective for annual reporting periods beginning on or after January 1, 2013, and are required to be applied retrospectively. The adoption of ASU 2011-11 did not have a material impact on the Company’s financial statement presentation. | |||||||||||||
Reclassification, Policy [Policy Text Block] | ' | ||||||||||||
Reclassifications | |||||||||||||
The Company made certain immaterial reclassifications to the Company’s Consolidated Balance Sheets as of December 31, 2012, to conform to the current year presentation. |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
For the year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Computation of Basic Earnings Per Share: | |||||||||||||
Income from continuing operations | $ | 261,683 | $ | 210,073 | $ | 141,416 | |||||||
Gain on sale of operating properties, net of tax | 1,432 | 4,299 | 108 | ||||||||||
Net income attributable to noncontrolling interests | (5,072 | ) | (14,202 | ) | (13,039 | ) | |||||||
Discontinued operations attributable to noncontrolling interests | (8,301 | ) | 3,133 | 2,799 | |||||||||
Preferred stock redemption costs | - | (21,703 | ) | - | |||||||||
Preferred stock dividends | (58,294 | ) | (71,697 | ) | (59,363 | ) | |||||||
Income from continuing operations available to the common Shareholders | 191,448 | 109,903 | 71,921 | ||||||||||
Earnings attributable to unvested restricted shares | (1,360 | ) | (1,221 | ) | (608 | ) | |||||||
Income from continuing operations attributable to common Shareholders | 190,088 | 108,682 | 71,313 | ||||||||||
(Loss)/income from discontinued operations attributable to the Company | (13,461 | ) | 62,770 | 37,767 | |||||||||
Net income attributable to the Company’s common shareholders for basic earnings per share | $ | 176,627 | $ | 171,452 | $ | 109,080 | |||||||
Weighted average common shares outstanding | 407,631 | 405,997 | 406,530 | ||||||||||
Basic Earnings Per Share Attributable to the Company’s Common Shareholders: | |||||||||||||
Income from continuing operations | $ | 0.47 | $ | 0.27 | $ | 0.18 | |||||||
(Loss)/income from discontinued operations | (0.04 | ) | 0.15 | 0.09 | |||||||||
Net income | $ | 0.43 | $ | 0.42 | $ | 0.27 | |||||||
Computation of Diluted Earnings Per Share: | |||||||||||||
Income from continuing operations attributable to common shareholders | $ | 190,088 | $ | 108,682 | $ | 71,313 | |||||||
(Loss)/income from discontinued operations attributable to the Company | (13,461 | ) | 62,770 | 37,767 | |||||||||
Net income attributable to the Company’s common shareholders for diluted earnings per share | $ | 176,627 | $ | 171,452 | $ | 109,080 | |||||||
Weighted average common shares outstanding – basic | 407,631 | 405,997 | 406,530 | ||||||||||
Effect of dilutive securities(a): | |||||||||||||
Equity awards | 983 | 692 | 1,139 | ||||||||||
Shares for diluted earnings per common share | 408,614 | 406,689 | 407,669 | ||||||||||
Diluted Earnings Per Share Attributable to the Company’s Common Shareholders: | |||||||||||||
Income from continuing operations | $ | 0.47 | $ | 0.27 | $ | 0.18 | |||||||
(Loss)/income from discontinued operations | (0.04 | ) | 0.15 | 0.09 | |||||||||
Net income | $ | 0.43 | $ | 0.42 | $ | 0.27 |
Note_2_Real_Estate_Tables
Note 2 - Real Estate (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Real Estate [Abstract] | ' | ||||||||
Schedule of Property Subject to or Available for Operating Lease [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 1,989,830 | $ | 1,927,800 | |||||
Undeveloped land | 82,269 | 96,500 | |||||||
Buildings and improvements: | |||||||||
Buildings | 4,572,740 | 4,607,931 | |||||||
Building improvements | 1,168,959 | 1,091,810 | |||||||
Tenant improvements | 725,570 | 708,626 | |||||||
Fixtures and leasehold improvements | 61,015 | 59,690 | |||||||
Other rental property (1) | 425,143 | 357,667 | |||||||
9,025,526 | 8,850,024 | ||||||||
Accumulated depreciation and amortization | (1,878,681 | ) | (1,745,462 | ) | |||||
Total | $ | 7,146,845 | $ | 7,104,562 |
Note_3_Property_Acquisitions_D1
Note 3 - Property Acquisitions, Developments and Other Investments (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Note 3 - Property Acquisitions, Developments and Other Investments (Tables) [Line Items] | ' | ||||||||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Land | $ | 198,263 | $ | 196,219 | |||||||||||||||||||
Buildings | 368,478 | 319,955 | |||||||||||||||||||||
Below Market Rents | (25,298 | ) | (40,375 | ) | |||||||||||||||||||
Above Market Rents | 15,758 | 14,977 | |||||||||||||||||||||
In-Place Leases | 35,262 | 31,248 | |||||||||||||||||||||
Building Improvements | 115,110 | 99,092 | |||||||||||||||||||||
Tenant Improvements | 22,196 | 19,327 | |||||||||||||||||||||
Mortgage Fair Value Adjustment | (5,794 | ) | (5,965 | ) | |||||||||||||||||||
Other Assets | 894 | - | |||||||||||||||||||||
Other Liabilities | (401 | ) | - | ||||||||||||||||||||
$ | 724,468 | $ | 634,478 | ||||||||||||||||||||
2013 [Member] | ' | ||||||||||||||||||||||
Note 3 - Property Acquisitions, Developments and Other Investments (Tables) [Line Items] | ' | ||||||||||||||||||||||
Property, Plant and Equipment, Schedule of Significant Acquisitions and Disposals [Table Text Block] | ' | ||||||||||||||||||||||
Purchase Price | |||||||||||||||||||||||
Property Name | Location | Month | Cash | Debt Assumed | Other | Total | GLA* | ||||||||||||||||
Acquired | |||||||||||||||||||||||
Santee Trolley Square (1) | Santee, CA | 13-Jan | $ | 26,863 | $ | 48,456 | $ | 22,681 | $ | 98,000 | 311 | ||||||||||||
Shops at Kildeer (2) | Kildeer, IL | 13-Jan | - | 32,724 | - | 32,724 | 168 | ||||||||||||||||
Village Commons S.C. | Tallahassee, FL | 13-Jan | 7,100 | - | - | 7,100 | 125 | ||||||||||||||||
Putty Hill Plaza (3) | Baltimore, MD | 13-Jan | 4,592 | 9,115 | 489 | 14,196 | 91 | ||||||||||||||||
Columbia Crossing II S.C. | Columbia, MD | 13-Jan | 21,800 | - | - | 21,800 | 101 | ||||||||||||||||
Roseville Plaza Outparcel | Roseville, MN | 13-Jan | 5,143 | - | - | 5,143 | 80 | ||||||||||||||||
Wilton River Park (4) | Wilton, CT | 13-Mar | 777 | 36,000 | 5,223 | 42,000 | 187 | ||||||||||||||||
Canyon Square (5) | Santa Clarita, CA | 13-Apr | 1,950 | 13,800 | - | 15,750 | 97 | ||||||||||||||||
JTS Portfolio (7 properties) (6) | Baton Rouge, LA | 13-Apr | - | 43,267 | 11,733 | 55,000 | 520 | ||||||||||||||||
Factoria Mall (7) | Bellevue, WA | 13-May | 37,283 | 56,000 | 37,467 | 130,750 | 510 | ||||||||||||||||
6 Outparcels | Various | 13-Jun | 13,053 | - | - | 13,053 | 97 | ||||||||||||||||
Highlands Ranch II | Highlands Ranch, CO | 13-Jul | 14,600 | - | - | 14,600 | 44 | ||||||||||||||||
Elmsford | Elmsford, NY | 13-Aug | 23,000 | - | - | 23,000 | 143 | ||||||||||||||||
Northridge | Arvada, CO | 13-Oct | 8,239 | 11,511 | - | 19,750 | 146 | ||||||||||||||||
Five Forks Crossing | Liburn, GA | 13-Oct | 9,825 | - | - | 9,825 | 74 | ||||||||||||||||
Greenwood S.C. Outparcel | Greenwood, IN | 13-Oct | 4,067 | - | - | 4,067 | 30 | ||||||||||||||||
Clark Portfolio (4 properties) | Clark, NJ | 13-Nov | 35,553 | - | - | 35,553 | 189 | ||||||||||||||||
Winn Dixie Portfolio (6 properties) | Louisiana & Florida | 13-Dec | 43,506 | - | - | 43,506 | 392 | ||||||||||||||||
Tomball S.C. | Houston, TX | 13-Dec | 35,327 | - | - | 35,327 | 149 | ||||||||||||||||
Atascocita S.C. | Humble, TX | 13-Dec | 38,250 | 28,250 | - | 66,500 | 317 | ||||||||||||||||
Lawrenceville | Lawrenceville, GA | 13-Dec | 36,824 | - | - | 36,824 | 286 | ||||||||||||||||
$ | 367,752 | $ | 279,123 | $ | 77,593 | $ | 724,468 | 4,057 | |||||||||||||||
2012 [Member] | ' | ||||||||||||||||||||||
Note 3 - Property Acquisitions, Developments and Other Investments (Tables) [Line Items] | ' | ||||||||||||||||||||||
Property, Plant and Equipment, Schedule of Significant Acquisitions and Disposals [Table Text Block] | ' | ||||||||||||||||||||||
Purchase Price | |||||||||||||||||||||||
Property Name | Location | Month Acquired | Cash | Debt Assumed | Total | GLA* | |||||||||||||||||
Woodbridge S.C. | Sugarland, TX | 12-Jan | $ | 9,000 | $ | - | $ | 9,000 | 97 | ||||||||||||||
Bell Camino Center | Sun City, AZ | 12-Jan | 4,185 | 4,210 | 8,395 | 63 | |||||||||||||||||
31 parcels (2) | Various | 12-Jan | 30,753 | - | 30,753 | 83 | |||||||||||||||||
1 parcel (3) | Duncan, SC | 12-Jan | 1,048 | - | 1,048 | 3 | |||||||||||||||||
Olympia West Outparcel | Olympia, WA | 12-Feb | 1,200 | - | 1,200 | 6 | |||||||||||||||||
Frontier Village (1) | Lake Stevens, WA | 12-Mar | 12,231 | 30,900 | 43,131 | 195 | |||||||||||||||||
Silverdale S.C. (1) | Silverdale, WA | 12-Mar | 8,335 | 24,000 | 32,335 | 170 | |||||||||||||||||
30 parcels (2) | Various | 12-Mar | 39,493 | - | 39,493 | 107 | |||||||||||||||||
1 parcel (3) | Peru, IL | 12-Mar | 995 | - | 995 | 4 | |||||||||||||||||
Towson Place (4) | Towson, MD | 12-Apr | 69,375 | 57,625 | 127,000 | 680 | |||||||||||||||||
Prien Lake Outparcel | Lake Charles, LA | 12-May | 1,800 | - | 1,800 | 8 | |||||||||||||||||
Devon Village | Devon, PA | 12-Jun | 28,550 | - | 28,550 | 79 | |||||||||||||||||
4 Properties | Various, NC | 12-Jun | 63,750 | - | 63,750 | 368 | |||||||||||||||||
Lake Jackson (5) | Lake Jackson, TX | 12-Jul | 5,500 | - | 5,500 | 35 | |||||||||||||||||
Woodlawn S.C. | Charlotte, NC | 12-Jul | 7,050 | - | 7,050 | 137 | |||||||||||||||||
Columbia Crossing - 2 Outparcels | Columbia, MD | 12-Jul | 11,060 | - | 11,060 | 69 | |||||||||||||||||
Pompano Beach (6) | Pompano Beach, FL | 12-Jul | 12,180 | - | 12,180 | 81 | |||||||||||||||||
6 Parcels (2) | Various | 12-Jul | 8,111 | - | 8,111 | 19 | |||||||||||||||||
Wilton S.C. | Wilton, CT | 12-Aug | 18,800 | 20,900 | 39,700 | 96 | |||||||||||||||||
Hawthorne Hills S. C. | Vernon Hills, IL | 12-Aug | 15,974 | 21,563 | 37,537 | 193 | |||||||||||||||||
Greeley Shopping Center (7) | Greeley, CO | 12-Oct | 23,250 | - | 23,250 | 139 | |||||||||||||||||
Savi Ranch Center Phase II | Yorba Linda, CA | 12-Oct | 34,500 | - | 34,500 | 161 | |||||||||||||||||
Wild Lake Plaza Outparcel | Columbia, MD | 12-Nov | 300 | - | 300 | 75 | |||||||||||||||||
City Heights Retail Village | San Francisco, CA | 12-Nov | 15,600 | 20,000 | 35,600 | 109 | |||||||||||||||||
Snowden Square (8) | Columbia, MD | 12-Dec | 6,182 | - | 6,182 | 50 | |||||||||||||||||
“Key Food” Portfolio (5 properties) | Various, NY | 12-Dec | 26,058 | - | 26,058 | 59 | |||||||||||||||||
Total | $ | 455,280 | $ | 179,198 | $ | 634,478 | 3,086 |
Note_5_Discontinued_Operations1
Note 5 - Discontinued Operations and Assets Held-for-Sale (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Discontinued operations: | |||||||||||||
Revenues from rental property | $ | 44,168 | $ | 76,442 | $ | 113,508 | |||||||
Rental property expenses | (14,861 | ) | (26,203 | ) | (40,054 | ) | |||||||
Depreciation and amortization | (10,318 | ) | (25,820 | ) | (32,878 | ) | |||||||
Provision for doubtful accounts | (847 | ) | (2,243 | ) | (2,904 | ) | |||||||
Interest income/(expense) | 300 | (2,882 | ) | (3,672 | ) | ||||||||
Income from other real estate investments | - | 13 | 1,703 | ||||||||||
Other expense, net | (449 | ) | (922 | ) | (351 | ) | |||||||
Income from discontinued operating properties, before income taxes | 17,993 | 18,385 | 35,352 | ||||||||||
Impairment of property carrying value, before income taxes | (98,815 | ) | (49,280 | ) | (19,698 | ) | |||||||
Gain on disposition of operating properties, before income taxes | 48,731 | 85,894 | 17,327 | ||||||||||
Benefit for income taxes | 10,329 | 10,904 | 7,585 | ||||||||||
(Loss)/income from discontinued operating properties | (21,762 | ) | 65,903 | 40,566 | |||||||||
Net loss/(income) attributable to noncontrolling interests | 8,301 | (3,133 | ) | (2,799 | ) | ||||||||
(Loss)/income from discontinued operations attributable to the Company | $ | (13,461 | ) | $ | 62,770 | $ | 37,767 |
Note_6_Impairments_Tables
Note 6 - Impairments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||
Details of Impairment of Long-Lived Assets Held and Used by Asset [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Impairment of property carrying values * (1)(2)(5)(6) | $ | 76.7 | $ | 7.6 | $ | 3.1 | |||||||
Investments in other real estate investments* (3)(7)(8) | 2.9 | 2.7 | 3.3 | ||||||||||
Marketable securities and other investments* (4) | 10.7 | - | 1.6 | ||||||||||
Investments in real estate joint ventures* (9) | 1.1 | - | 5.1 | ||||||||||
Total Impairment charges included in operating expenses | 91.4 | 10.3 | 13.1 | ||||||||||
Impairment of property carrying values included in discontinued operations ** | 98.8 | 49.3 | 19.7 | ||||||||||
Total gross impairment charges | 190.2 | 59.6 | 32.8 | ||||||||||
Noncontrolling interests | (10.6 | ) | (0.4 | ) | 0.7 | ||||||||
Income tax benefit | (22.4 | ) | (10.6 | ) | (4.5 | ) | |||||||
Total net impairment charges | $ | 157.2 | $ | 48.6 | $ | 29 |
Note_7_Investment_and_Advances1
Note 7 - Investment and Advances in Real Estate Joint Ventures (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||
Equity Method Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Venture | Average | Number of | GLA | Gross | The | Average | Number | GLA | Gross | The | |||||||||||||||||||||||||||||||
Ownership Interest | Properties | Real | Company's | Ownership Interest | of | Real | Company's | ||||||||||||||||||||||||||||||||||
Estate | Investment | Properties | Estate | Investment | |||||||||||||||||||||||||||||||||||||
Prudential Investment Program (“KimPru” and “KimPru II”) (1) (2) (11) | 15.00% | 60 | 10.6 | $ | 2,724.00 | $ | 179.7 | 15.00% | 61 | 10.7 | $ | 2,744.90 | $ | 170.1 | |||||||||||||||||||||||||||
Kimco Income Opportunity Portfolio (“KIR”) (2) (7) (15) | 48.60% | 57 | 12 | 1,496.00 | 163.6 | 45.00% | 58 | 12.4 | 1,543.20 | 140.3 | |||||||||||||||||||||||||||||||
UBS Programs (“UBS”) (2) (8) (14)* | - | - | - | - | 1.1 | 17.90% | 40 | 5.7 | 1,260.10 | 58.4 | |||||||||||||||||||||||||||||||
Kimstone (2) (14) | 33.30% | 39 | 5.6 | 1,095.30 | 100.3 | - | - | - | - | - | |||||||||||||||||||||||||||||||
BIG Shopping Centers (2) (10)* | 37.90% | 21 | 3.4 | 520.1 | 29.5 | 37.70% | 22 | 3.6 | 547.7 | 31.3 | |||||||||||||||||||||||||||||||
The Canada Pension Plan Investment Board | 55.00% | 6 | 2.4 | 437.4 | 144.8 | 55.00% | 6 | 2.4 | 436.1 | 149.5 | |||||||||||||||||||||||||||||||
(“CPP”) (2) | |||||||||||||||||||||||||||||||||||||||||
Kimco Income Fund (2)(6) | 39.50% | 12 | 1.5 | 288.7 | 50.6 | 15.20% | 12 | 1.5 | 287 | 12.3 | |||||||||||||||||||||||||||||||
SEB Immobilien (2) | 15.00% | 13 | 1.8 | 361.9 | 0.9 | 15.00% | 13 | 1.8 | 361.2 | 1.5 | |||||||||||||||||||||||||||||||
Other Institutional Programs (2) (9) | Various | 56 | 2.1 | 385.3 | 16.8 | Various | 58 | 2.6 | 499.2 | 21.3 | |||||||||||||||||||||||||||||||
RioCan | 50.00% | 45 | 9.3 | 1,314.30 | 156.3 | 50.00% | 45 | 9.3 | 1,379.30 | 111 | |||||||||||||||||||||||||||||||
Intown (3) | - | - | - | - | - | - | 138 | N/A | 841 | 86.9 | |||||||||||||||||||||||||||||||
Latin America (13) (16) | Various | 28 | 3.7 | 313.2 | 156.7 | Various | 131 | 18 | 1,198.10 | 334.2 | |||||||||||||||||||||||||||||||
Other Joint Venture Programs (4) (5) (12) | Various | 75 | 11.5 | 1,548.90 | 256.7 | Various | 87 | 13.2 | 1,846.70 | 311.4 | |||||||||||||||||||||||||||||||
Total | 412 | 63.9 | $ | 10,485.10 | $ | 1,257.00 | 671 | 81.2 | $ | 12,944.50 | $ | 1,428.20 | |||||||||||||||||||||||||||||
Joint Venture Investments Accounted for Under the Equity Method Debt Details [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Venture | Mortgages | Average | Average | Mortgages | Average | Average | |||||||||||||||||||||||||||||||||||
and | Interest Rate | Remaining | and | Interest Rate | Remaining | ||||||||||||||||||||||||||||||||||||
Notes | Term | Notes | Term | ||||||||||||||||||||||||||||||||||||||
Payable | (months)** | Payable | (months)** | ||||||||||||||||||||||||||||||||||||||
KimPru and KimPru II | $ | 923.4 | 5.53% | 35 | $ | 1,010.20 | 5.54% | 44.5 | |||||||||||||||||||||||||||||||||
KIR | 889.1 | 5.05% | 75.1 | 914.6 | 5.22% | 78.6 | |||||||||||||||||||||||||||||||||||
UBS Programs | - | - | - | 691.9 | 5.40% | 39.1 | |||||||||||||||||||||||||||||||||||
Kimstone | 749.9 | 4.62% | 39.3 | - | - | - | |||||||||||||||||||||||||||||||||||
BIG Shopping Centers | 406.5 | 5.39% | 40.1 | 443.8 | 5.52% | 45.5 | |||||||||||||||||||||||||||||||||||
CPP | 138.6 | 5.23% | 19 | 141.5 | 5.19% | 31 | |||||||||||||||||||||||||||||||||||
Kimco Income Fund | 158 | 5.45% | 8.7 | 161.4 | 5.45% | 20.7 | |||||||||||||||||||||||||||||||||||
SEB Immobilien | 243.8 | 5.11% | 43.3 | 243.8 | 5.11% | 55.3 | |||||||||||||||||||||||||||||||||||
RioCan | 743.7 | 4.59% | 48 | 923.2 | 5.16% | 41.2 | |||||||||||||||||||||||||||||||||||
Intown | - | - | - | 614.4 | 4.46% | 46.1 | |||||||||||||||||||||||||||||||||||
Other Institutional Programs | 272.9 | 5.32% | 31 | 310.5 | 5.24% | 39 | |||||||||||||||||||||||||||||||||||
Other Joint Venture Programs | 1,063.10 | 5.53% | 60.6 | 1,612.20 | 5.70% | 57.8 | |||||||||||||||||||||||||||||||||||
Total | $ | 5,589.00 | $ | 7,067.50 | |||||||||||||||||||||||||||||||||||||
Investments in and Advances to Affiliates [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||
Real estate, net | $ | 6,601.80 | $ | 8,523.30 | |||||||||||||||||||||||||||||||||||||
Other assets | 390.1 | 507.7 | |||||||||||||||||||||||||||||||||||||||
$ | 6,991.90 | $ | 9,031.00 | ||||||||||||||||||||||||||||||||||||||
Liabilities and Partners’/Members’ Capital: | |||||||||||||||||||||||||||||||||||||||||
Notes payable | $ | - | $ | 148 | |||||||||||||||||||||||||||||||||||||
Mortgages payable | 3,956.20 | 5,056.50 | |||||||||||||||||||||||||||||||||||||||
Construction loans | - | 25.1 | |||||||||||||||||||||||||||||||||||||||
Other liabilities | 102 | 188.5 | |||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | 19.2 | 19.1 | |||||||||||||||||||||||||||||||||||||||
Partners’/Members’ capital | 2,914.50 | 3,593.80 | |||||||||||||||||||||||||||||||||||||||
$ | 6,991.90 | $ | 9,031.00 | ||||||||||||||||||||||||||||||||||||||
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Revenues from rental property | $ | 935.1 | $ | 1,066.80 | $ | 1,109.30 | |||||||||||||||||||||||||||||||||||
Operating expenses | (297.6 | ) | (348.1 | ) | (388.8 | ) | |||||||||||||||||||||||||||||||||||
Interest expense | (253.6 | ) | (306.9 | ) | (329.4 | ) | |||||||||||||||||||||||||||||||||||
Depreciation and amortization | (242.0 | ) | (277.6 | ) | (322.6 | ) | |||||||||||||||||||||||||||||||||||
Impairment charges | (32.3 | ) | (25.9 | ) | (13.5 | ) | |||||||||||||||||||||||||||||||||||
Other (expense)/income, net | (14.5 | ) | (11.3 | ) | 7.4 | ||||||||||||||||||||||||||||||||||||
(840.0 | ) | (969.8 | ) | (1046.9 | ) | ||||||||||||||||||||||||||||||||||||
Income from continuing operations | 95.1 | 97 | 62.4 | ||||||||||||||||||||||||||||||||||||||
Discontinued Operations: | |||||||||||||||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | 12.1 | (4.0 | ) | 30.6 | |||||||||||||||||||||||||||||||||||||
Impairment on dispositions of properties | (5.0 | ) | (21.1 | ) | (75.7 | ) | |||||||||||||||||||||||||||||||||||
Gain/(loss) on dispositions of properties | 223.4 | 94.5 | (0.1 | ) | |||||||||||||||||||||||||||||||||||||
Net income | $ | 325.6 | $ | 166.4 | $ | 17.2 | |||||||||||||||||||||||||||||||||||
KIR [Member] | Income [Member] | ' | ||||||||||||||||||||||||||||||||||||||||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||
Equity Method Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Revenues from rental property | $ | 198.2 | $ | 191.8 | $ | 190 | |||||||||||||||||||||||||||||||||||
Operating expenses | (54.2 | ) | (51.3 | ) | (52.5 | ) | |||||||||||||||||||||||||||||||||||
Interest expense | (47.8 | ) | (54.0 | ) | (58.8 | ) | |||||||||||||||||||||||||||||||||||
Depreciation and amortization | (39.1 | ) | (39.2 | ) | (36.8 | ) | |||||||||||||||||||||||||||||||||||
Impairment charges | - | - | (0.3 | ) | |||||||||||||||||||||||||||||||||||||
Other expense, net | (0.6 | ) | (1.3 | ) | (2.6 | ) | |||||||||||||||||||||||||||||||||||
(141.7 | ) | (145.8 | ) | (151.0 | ) | ||||||||||||||||||||||||||||||||||||
Income from continuing operations | 56.5 | 46 | 39 | ||||||||||||||||||||||||||||||||||||||
Discontinued Operations: | |||||||||||||||||||||||||||||||||||||||||
Income from discontinued operations | 1.5 | 2.3 | (0.1 | ) | |||||||||||||||||||||||||||||||||||||
Impairment on dispositions of properties | (9.8 | ) | (0.1 | ) | (4.8 | ) | |||||||||||||||||||||||||||||||||||
Gain on dispositions of properties | 6.1 | - | - | ||||||||||||||||||||||||||||||||||||||
Net income | $ | 54.3 | $ | 48.2 | $ | 34.1 | |||||||||||||||||||||||||||||||||||
KIR [Member] | Balance Sheet [Member] | ' | ||||||||||||||||||||||||||||||||||||||||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||
Equity Method Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||
Real estate, net | $ | 1,064.20 | $ | 1,134.20 | |||||||||||||||||||||||||||||||||||||
Other assets | 81.9 | 87.7 | |||||||||||||||||||||||||||||||||||||||
$ | 1,146.10 | $ | 1,221.90 | ||||||||||||||||||||||||||||||||||||||
Liabilities and Members’ Capital: | |||||||||||||||||||||||||||||||||||||||||
Mortgages payable | $ | 889.1 | $ | 914.6 | |||||||||||||||||||||||||||||||||||||
Other liabilities | 21.8 | 26.8 | |||||||||||||||||||||||||||||||||||||||
Members’ capital | 235.2 | 280.5 | |||||||||||||||||||||||||||||||||||||||
$ | 1,146.10 | $ | 1,221.90 | ||||||||||||||||||||||||||||||||||||||
RioCan [Member] | Income [Member] | ' | ||||||||||||||||||||||||||||||||||||||||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||
Equity Method Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
Revenues from rental properties | $ | 209.9 | $ | 213.3 | $ | 209.2 | |||||||||||||||||||||||||||||||||||
Operating expenses | (76.9 | ) | (78.1 | ) | (73.0 | ) | |||||||||||||||||||||||||||||||||||
Interest expense | (40.1 | ) | (51.9 | ) | (57.5 | ) | |||||||||||||||||||||||||||||||||||
Depreciation and amortization | (36.0 | ) | (37.3 | ) | (36.8 | ) | |||||||||||||||||||||||||||||||||||
Other (expense)/income, net | (1.8 | ) | 14.7 | (0.2 | ) | ||||||||||||||||||||||||||||||||||||
(154.8 | ) | (152.6 | ) | (167.5 | ) | ||||||||||||||||||||||||||||||||||||
Net income | $ | 55.1 | $ | 60.7 | $ | 41.7 | |||||||||||||||||||||||||||||||||||
RioCan [Member] | Balance Sheet [Member] | ' | ||||||||||||||||||||||||||||||||||||||||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||
Equity Method Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||||
Real estate, net | $ | 1,106.20 | $ | 1,189.90 | |||||||||||||||||||||||||||||||||||||
Other assets | 43.8 | 43.7 | |||||||||||||||||||||||||||||||||||||||
$ | 1,150.00 | $ | 1,233.60 | ||||||||||||||||||||||||||||||||||||||
Liabilities and Members' Capital: | |||||||||||||||||||||||||||||||||||||||||
Mortgages payable | $ | 743.7 | $ | 923.2 | |||||||||||||||||||||||||||||||||||||
Other liabilities | 13 | 18.1 | |||||||||||||||||||||||||||||||||||||||
Members' capital | 393.3 | 292.3 | |||||||||||||||||||||||||||||||||||||||
$ | 1,150.00 | $ | 1,233.60 | ||||||||||||||||||||||||||||||||||||||
Income [Member] | ' | ||||||||||||||||||||||||||||||||||||||||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||
Equity Method Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||
KimPru and KimPru II (11) (21) (22) (23) | $ | 9.1 | $ | 7.4 | $ | (1.6 | ) | ||||||||||||||||||||||||||||||||||
KIR (15) (24) | 25.3 | 23.4 | 17.3 | ||||||||||||||||||||||||||||||||||||||
UBS Programs (14) (25) | 1.8 | 0.5 | (0.8 | ) | |||||||||||||||||||||||||||||||||||||
Kimstone (14) | 3.6 | - | - | ||||||||||||||||||||||||||||||||||||||
BIG Shopping Centers (10) (26) | 3 | (3.7 | ) | (2.9 | ) | ||||||||||||||||||||||||||||||||||||
CPP | 5.8 | 5.3 | 5.2 | ||||||||||||||||||||||||||||||||||||||
Kimco Income Fund | 3.3 | 1.7 | 1 | ||||||||||||||||||||||||||||||||||||||
SEB Immobilien | 1.1 | 0.7 | - | ||||||||||||||||||||||||||||||||||||||
Other Institutional Programs (19) (27) | 1.4 | 5 | 5 | ||||||||||||||||||||||||||||||||||||||
RioCan (20) | 27.6 | 30.4 | 19.7 | ||||||||||||||||||||||||||||||||||||||
Intown | 1.4 | 4 | (1.9 | ) | |||||||||||||||||||||||||||||||||||||
Latin America (13) (16) (17) | 103.1 | 15.8 | 12.5 | ||||||||||||||||||||||||||||||||||||||
Other Joint Venture Programs (12) (18) (28) (29) | 22.2 | 22.4 | 10 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 208.7 | $ | 112.9 | $ | 63.5 |
Note_8_Other_Real_Estate_Inves1
Note 8 - Other Real Estate Investments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Real Estate Investments [Abstract] | ' | ||||||||||||
Real Estate Investment Financial Statements, Disclosure [Table Text Block] | ' | ||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Assets: | |||||||||||||
Real estate, net | $ | 571.7 | $ | 824.7 | |||||||||
Other assets | 676.1 | 719.1 | |||||||||||
$ | 1,247.80 | $ | 1,543.80 | ||||||||||
Liabilities and Partners’/Members’ Capital: | |||||||||||||
Notes and mortgages payable | $ | 878.1 | $ | 1,116.90 | |||||||||
Other liabilities | 26.1 | 51.8 | |||||||||||
Partners’/Members’ capital | 343.6 | 375.1 | |||||||||||
$ | 1,247.80 | $ | 1,543.80 | ||||||||||
Preferred Equity Investments, Income Statement [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenues from rental property | $ | 159.5 | $ | 195 | $ | 233.1 | |||||||
Operating expenses | (34.8 | ) | (44.7 | ) | (57.0 | ) | |||||||
Interest expense | (55.2 | ) | (72.0 | ) | (89.5 | ) | |||||||
Depreciation and amortization | (24.0 | ) | (33.7 | ) | (43.6 | ) | |||||||
Impairment charges (a) | - | (2.7 | ) | - | |||||||||
Other expense, net | (7.1 | ) | (8.3 | ) | (6.3 | ) | |||||||
Income from continuing operations | 38.4 | 33.6 | 36.7 | ||||||||||
Discontinued Operations: | |||||||||||||
Gain on disposition of properties | 20.8 | 17.5 | 6.2 | ||||||||||
Net income | $ | 59.2 | $ | 51.1 | $ | 42.9 | |||||||
Schedule of Components of Leveraged Lease Investments [Table Text Block] | ' | ||||||||||||
2013 | 2012 | ||||||||||||
Remaining net rentals | $ | 15.9 | $ | 24 | |||||||||
Estimated unguaranteed residual value | 30.3 | 30.3 | |||||||||||
Non-recourse mortgage debt | (16.1 | ) | (19.0 | ) | |||||||||
Unearned and deferred income | (19.9 | ) | (27.6 | ) | |||||||||
Net investment in leveraged lease | $ | 10.2 | $ | 7.7 |
Note_10_Mortgages_and_Other_Fi1
Note 10 - Mortgages and Other Financing Receivables (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Receivables [Abstract] | ' | ||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at January 1 | $ | 70,704 | $ | 102,972 | $ | 108,493 | |||||||
Additions: | |||||||||||||
New mortgage loans | 8,527 | 29,496 | 14,297 | ||||||||||
Additions under existing mortgage loans | 7,810 | 895 | - | ||||||||||
Foreign currency translation | - | 1,181 | - | ||||||||||
Amortization of loan discounts | 653 | 247 | 247 | ||||||||||
Deductions: | |||||||||||||
Loan repayments/foreclosures | (53,640 | ) | (60,740 | ) | (15,803 | ) | |||||||
Charge off/foreign currency translation | (1,260 | ) | (430 | ) | (863 | ) | |||||||
Collections of principal | (2,529 | ) | (2,861 | ) | (3,345 | ) | |||||||
Amortization of loan costs | (22 | ) | (56 | ) | (54 | ) | |||||||
Balance at December 31 | $ | 30,243 | $ | 70,704 | $ | 102,972 |
Note_11_Marketable_Securities_
Note 11 - Marketable Securities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||
Marketable Securities [Table Text Block] | ' | ||||||||||||
31-Dec-13 | |||||||||||||
Amortized Cost | Gross Unrealized | Estimated | |||||||||||
Gains | Fair Value | ||||||||||||
Available-for-sale: | |||||||||||||
Equity securities | $ | 33,728 | $ | 25,995 | $ | 59,723 | |||||||
Held-to-maturity: | |||||||||||||
Debt securities | 3,043 | 59 | 3,102 | ||||||||||
Total marketable securities | $ | 36,771 | $ | 26,054 | $ | 62,825 | |||||||
31-Dec-12 | |||||||||||||
Amortized Cost | Gross Unrealized | Estimated | |||||||||||
Gains | Fair Value | ||||||||||||
Available-for-sale: | |||||||||||||
Equity securities | $ | 14,205 | $ | 19,223 | $ | 33,428 | |||||||
Held-to-maturity: | |||||||||||||
Debt securities | 3,113 | 284 | 3,397 | ||||||||||
Total marketable securities | $ | 17,318 | $ | 19,507 | $ | 36,825 |
Note_12_Notes_Payable_Tables
Note 12 - Notes Payable (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||||||||||
Balance at 12/31/13 | Interest Rate Range (Low) | Interest Rate Range (High) | Maturity Date Range (Low) | Maturity Date Range (High) | |||||||||||||
Senior Unsecured Notes | $ | 1,140.90 | 3.13% | 6.88% | Jun-14 | Jun-23 | |||||||||||
Medium Term Notes | 1,044.60 | 4.30% | 5.78% | Jun-14 | Feb-18 | ||||||||||||
U.S. Term Loan (d) | 400 | (a) | (a) | Apr-14 | Apr-14 | ||||||||||||
Canadian Notes Payable | 329.5 | 3.86% | 5.99% | Apr-18 | Aug-20 | ||||||||||||
Credit Facility | 194.5 | (a) | (a) | Oct-15 | Oct-15 | ||||||||||||
Mexican Term Loan | 76.5 | (c) | (c) | Mar-18 | Mar-18 | ||||||||||||
$ | 3,186.00 | ||||||||||||||||
Balance at 12/31/12 | Interest Rate Range (Low) | Interest Rate Range (High) | Maturity Date Range (Low) | Maturity Date Range (High) | |||||||||||||
Senior Unsecured Notes | $ | 965.9 | 4.70% | 6.88% | Jan-13 | Oct-19 | |||||||||||
Medium Term Notes | 1,144.60 | 4.30% | 5.78% | Oct-13 | Feb-18 | ||||||||||||
U.S. Term Loan | 400 | (a) | (a) | Apr-14 | Apr-14 | ||||||||||||
Canadian Notes Payable | 352.4 | 5.18% | 5.99% | Aug-13 | Apr-18 | ||||||||||||
Credit Facility | 249.9 | (a) | (a) | Oct-15 | Oct-15 | ||||||||||||
Mexican Term Loan | 76.9 | 8.58% | 8.58% | Mar-13 | Mar-13 | ||||||||||||
Other Notes Payable | 2.4 | (b) | (b) | Jan-13 | Sep-13 | ||||||||||||
$ | 3,192.10 | ||||||||||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||||||
Type | Date Issued | Amount Repaid | Interest Rate | Maturity Date | Date Paid | ||||||||||||
MTN | 3-Oct | $ | 100 | 5.19% | 13-Oct | 13-Oct | |||||||||||
Senior Note | 6-Oct | $ | 75 | 4.70% | 13-Jun | 13-Jun | |||||||||||
Senior Note | 6-Oct | $ | 100 | 6.13% | 13-Jan | 13-Jan | |||||||||||
Senior Note | 2-Nov | $ | 198.9 | 6.00% | 12-Nov | 12-Nov | |||||||||||
MTN | 2-Jul | $ | 17 | 5.98% | 12-Jul | 12-Jul |
Note_14_Noncontrolling_Interes1
Note 14 - Noncontrolling Interests (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||||
Convertible Non-convertible Units [Table Text Block] | ' | |||||||||||||
Type | Number of Units Issued | Par Value Per Unit | Return Per Annum | |||||||||||
Preferred A Units (1) | 81,800,000 | $ | 1 | 7.00% | ||||||||||
Class A Preferred Units (1) | 2,000 | $ | 10,000 | LIBOR | plus | 2.00% | ||||||||
Class B-1 Preferred Units (2) | 2,627 | $ | 10,000 | 7.00% | ||||||||||
Class B-2 Preferred Units (1) | 5,673 | $ | 10,000 | 7.00% | ||||||||||
Class C DownReit Units (2) | 640,001 | $ | 30.52 | Equal to the Company’s common stock dividend | ||||||||||
Redeemed Noncontrolling Interests [Table Text Block] | ' | |||||||||||||
Type | Units Redeemed | Par Value Redeemed | ||||||||||||
(in millions) | ||||||||||||||
Preferred A Units | 2,200,000 | $ | 2.2 | |||||||||||
Class A Preferred Units | 2,000 | $ | 20 | |||||||||||
Class B-1 Preferred Units | 2,438 | $ | 24.4 | |||||||||||
Class B-2 Preferred Units | 5,576 | $ | 55.8 | |||||||||||
Class C DownReit Units | 61,804 | $ | 1.9 | |||||||||||
Redeemable Units [Table Text Block] | ' | |||||||||||||
Type | Number of Units Issued | Par Value Per Unit | Return Per Annum | |||||||||||
Class A Units (1) | 13,963 | $ | 1,000 | 5.00% | ||||||||||
Class B Units (2) | 647,758 | $ | 37.24 | Equal to the Company’s common stock dividend | ||||||||||
Redeemable Noncontrolling Interest [Table Text Block] | ' | |||||||||||||
2013 | 2012 | |||||||||||||
Balance at January 1, | $ | 81,076 | $ | 95,074 | ||||||||||
Issuance of redeemable units (1) | 5,223 | - | ||||||||||||
Unit redemptions | - | (13,998 | ) | |||||||||||
Fair market value adjustment, net | (225 | ) | - | |||||||||||
Other | 79 | - | ||||||||||||
Balance at December 31, | $ | 86,153 | $ | 81,076 |
Note_15_Fair_Value_Disclosure_1
Note 15 - Fair Value Disclosure of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||
Amounts | Fair Value | Amounts | Fair Value | ||||||||||||||
Marketable Securities (1) | $ | 62,766 | $ | 62,824 | $ | 36,541 | $ | 36,825 | |||||||||
Notes Payable (2) | $ | 3,186,047 | $ | 3,333,614 | $ | 3,192,127 | $ | 3,408,632 | |||||||||
Mortgages Payable (3) | $ | 1,035,354 | $ | 1,083,801 | $ | 1,003,190 | $ | 1,068,616 | |||||||||
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | ' | ||||||||||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-13 | |||||||||||||||||
Marketable equity securities | $ | 59,723 | $ | 59,723 | $ | - | $ | - | |||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-12 | |||||||||||||||||
Marketable equity securities | $ | 33,428 | $ | 33,428 | $ | - | $ | - | |||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-13 | |||||||||||||||||
Real estate | $ | 217,529 | $ | - | $ | - | $ | 217,529 | |||||||||
Joint venture investments | $ | 59,693 | $ | - | $ | - | $ | 59,693 | |||||||||
Other real estate investments | $ | 2,050 | $ | - | $ | - | $ | 2,050 | |||||||||
Cost method investment | $ | 4,670 | $ | - | $ | - | $ | 4,670 | |||||||||
Balance at | Level 1 | Level 2 | Level 3 | ||||||||||||||
31-Dec-12 | |||||||||||||||||
Real estate | $ | 52,505 | $ | - | $ | - | $ | 52,505 |
Note_16_Preferred_Stock_Common1
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Outstanding Preferred Stock [Member] | ' | ||||||||||||||||||||||||
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Tables) [Line Items] | ' | ||||||||||||||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | ||||||||||||||||||||||||
As of December 31, 2013 and 2012 | |||||||||||||||||||||||||
Series of Preferred Stock | Shares Authorized | Shares Issued and Outstanding | Liquidation Preference | Dividend Rate | Annual Dividend per Depositary Share | Par Value | |||||||||||||||||||
Series H | 70,000 | 70,000 | $ | 175,000 | 6.90% | $ | 1.725 | $ | 1 | ||||||||||||||||
Series I | 18,400 | 16,000 | 400,000 | 6.00% | $ | 1.5 | $ | 1 | |||||||||||||||||
Series J | 9,000 | 9,000 | 225,000 | 5.50% | $ | 1.375 | $ | 1 | |||||||||||||||||
Series K | 8,050 | 7,000 | 175,000 | 5.63% | $ | 1.40625 | $ | 1 | |||||||||||||||||
105,450 | 102,000 | $ | 975,000 | ||||||||||||||||||||||
Preferred Stock Issued [Member] | ' | ||||||||||||||||||||||||
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Tables) [Line Items] | ' | ||||||||||||||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | ||||||||||||||||||||||||
Series of Preferred Stock | Date Issued | Depositary Shares Issued | Fractional Interest per Share | Net Proceeds, After Expenses (in millions) | Offering/ Redemption Price | Optional Redemption Date | |||||||||||||||||||
Series H(1) | 8/30/10 | 7,000,000 | 1/100 | $ | 169.2 | $ | 25 | 8/30/15 | |||||||||||||||||
Series I (2) | 3/20/12 | 16,000,000 | 1/1000 | $ | 387.2 | $ | 25 | 3/20/17 | |||||||||||||||||
Series J (3) | 7/25/12 | 9,000,000 | 1/1000 | $ | 217.8 | $ | 25 | 7/25/17 | |||||||||||||||||
Series K (4) | 12/7/12 | 7,000,000 | 1/1000 | $ | 169.1 | $ | 25 | 12/7/17 | |||||||||||||||||
Preferred Stock Redeemed [Member] | ' | ||||||||||||||||||||||||
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Tables) [Line Items] | ' | ||||||||||||||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | ||||||||||||||||||||||||
Series of Preferred Stock | Date Issued | Depositary Shares Issued | Redemption Amount | Offering/ Redemption Price | Optional Redemption Date | Actual Redemption Date | |||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Series F (1) | 6/5/03 | 7,000,000 | $ | 175 | $ | 25 | 6/5/08 | 8/15/12 | |||||||||||||||||
Series G (2) | 10/10/07 | 18,400,000 | $ | 460 | $ | 25 | 10/10/12 | 10/10/12 |
Note_17_Supplemental_Schedule_1
Note 17 - Supplemental Schedule of Non-Cash Investing/Financing Activities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Acquisition of real estate interests by assumption of mortgage debt | $ | 76,477 | $ | 179,198 | $ | 117,912 | |||||||
Acquisition of real estate interests through foreclosure | $ | 24,322 | $ | - | $ | - | |||||||
Acquisition of real estate interests by issuance of redeemable units | $ | 3,985 | $ | - | $ | - | |||||||
Acquisition of real estate interests through proceeds held in escrow | $ | 42,892 | $ | - | $ | - | |||||||
Disposition of real estate interest by assignment of mortgage debt | $ | - | $ | 17,083 | $ | - | |||||||
Disposition of real estate through the issuance of unsecured obligation | $ | 3,513 | $ | 13,475 | $ | 14,297 | |||||||
Issuance of common stock | $ | 9,213 | $ | 18,115 | $ | 4,941 | |||||||
Surrender of common stock | $ | (3,891 | ) | $ | (2,073 | ) | $ | (596 | ) | ||||
Declaration of dividends paid in succeeding period | $ | 104,496 | $ | 96,518 | $ | 92,159 | |||||||
Consolidation of Joint Ventures: | |||||||||||||
Increase in real estate and other assets | $ | 228,200 | $ | - | $ | - | |||||||
Increase in mortgage payable | $ | 206,489 | $ | - | $ | - |
Note_19_Commitments_and_Contin1
Note 19 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Schedule of Guarantor Obligations [Table Text Block] | ' | ||||||||||||||||||
Name of Joint Venture | Amount of | Interest rate | Maturity, | Terms | Type of debt | ||||||||||||||
Guarantee | with extensions | ||||||||||||||||||
InTown Suites Management, Inc. | $ | 139.7 | LIBOR | plus | 1.15% | 2015 | -1 | Unsecured credit facility | |||||||||||
Victoriaville | $ | 2.3 | 3.92% | 2020 | Jointly and severally with partner | Promissory note |
Note_20_Incentive_Plans_Tables
Note 20 - Incentive Plans (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Weighted average fair value of options granted | $ | 5.04 | $ | 4.52 | $ | 4.39 | |||||||
Weighted average risk-free interest rates | 1.46 | % | 1.04 | % | 2.02 | % | |||||||
Weighted average expected option lives (in years) | 6.25 | 6.25 | 6.25 | ||||||||||
Weighted average expected volatility | 35.95 | % | 37.53 | % | 36.82 | % | |||||||
Weighted average expected dividend yield | 3.85 | % | 3.94 | % | 3.98 | % | |||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||
Shares | Weighted-Average Exercise Price | Aggregate Intrinsic Value (in millions) | |||||||||||
Per Share | |||||||||||||
Options outstanding, January 1, 2011 | 17,115,789 | $ | 28.32 | $ | 18 | ||||||||
Exercised | (444,368 | ) | $ | 14.71 | |||||||||
Granted | 1,888,017 | $ | 18.77 | ||||||||||
Expired | (655,748 | ) | $ | 16.4 | |||||||||
Forfeited | (793,098 | ) | $ | 23.74 | |||||||||
Options outstanding, December 31, 2011 | 17,110,592 | $ | 28.14 | $ | 8 | ||||||||
Exercised | (1,495,432 | ) | $ | 19.84 | |||||||||
Granted | 1,522,450 | $ | 18.78 | ||||||||||
Forfeited | (579,613 | ) | $ | 28.73 | |||||||||
Options outstanding, December 31, 2012 | 16,557,997 | $ | 28.42 | $ | 14.9 | ||||||||
Exercised | (1,636,300 | ) | $ | 23.15 | |||||||||
Granted | 1,354,250 | $ | 21.55 | ||||||||||
Forfeited | (901,802 | ) | $ | 31.38 | |||||||||
Options outstanding, December 31, 2013 | 15,374,145 | $ | 28.79 | $ | 13.1 | ||||||||
Options exercisable (fully vested)- | |||||||||||||
31-Dec-11 | 12,459,598 | $ | 30.77 | $ | 3.9 | ||||||||
31-Dec-12 | 12,830,255 | $ | 31.57 | $ | 7.7 | ||||||||
31-Dec-13 | 12,039,439 | $ | 31.24 | $ | 8.2 |
Note_21_Income_Taxes_Tables
Note 21 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Book to Tax Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(Estimated) | (Actual) | (Actual) | |||||||||||||||||||||||
GAAP net income attributable to the Company | $ | 236,281 | $ | 266,073 | $ | 169,051 | |||||||||||||||||||
Less: GAAP net income of taxable REIT subsidiaries | (5,950 | ) | (5,249 | ) | (19,572 | ) | |||||||||||||||||||
GAAP net income from REIT operations (a) | 230,331 | 260,824 | 149,479 | ||||||||||||||||||||||
Net book depreciation in excess of tax depreciation | 31,678 | 37,492 | 30,603 | ||||||||||||||||||||||
Deferred/prepaid/above and below market rents, net | (11,731 | ) | (16,050 | ) | (16,463 | ) | |||||||||||||||||||
Book/tax differences from non-qualified stock options | (255 | ) | 1,774 | 9,879 | |||||||||||||||||||||
Book/tax differences from investments in real estate joint ventures | 42,724 | 44,886 | 52,564 | ||||||||||||||||||||||
Book/tax difference on sale of property | (48,296 | ) | (77,853 | ) | 1,811 | ||||||||||||||||||||
Foreign income tax from Mexico capital gains | (42,641 | ) | - | - | |||||||||||||||||||||
Book adjustment to property carrying values and marketable equity securities | 87,218 | 2,656 | 8,721 | ||||||||||||||||||||||
Taxable currency exchange (loss)/gain, net | (27,155 | ) | (2,620 | ) | 6,502 | ||||||||||||||||||||
Book/tax differences on capitalized costs | 4,616 | (7,205 | ) | 3,228 | |||||||||||||||||||||
Dividends from taxable REIT subsidiaries | 698 | 2,304 | 15,969 | ||||||||||||||||||||||
Other book/tax differences, net | (4,544 | ) | (3,416 | ) | 1,016 | ||||||||||||||||||||
Adjusted REIT taxable income | $ | 262,643 | $ | 242,792 | $ | 263,309 | |||||||||||||||||||
Taxable Characteristics of Distributions Paid [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Preferred F Dividends | |||||||||||||||||||||||||
Ordinary income | $ | - | -% | $ | 9,116 | 94% | $ | 11,638 | 100% | ||||||||||||||||
Capital gain | - | -% | 582 | 6% | - | -% | |||||||||||||||||||
$ | - | -% | $ | 9,698 | 100% | $ | 11,638 | 100% | |||||||||||||||||
Preferred G Dividends | |||||||||||||||||||||||||
Ordinary income | $ | - | -% | $ | 33,046 | 94% | $ | 35,650 | 100% | ||||||||||||||||
Capital gain | - | -% | 2,109 | 6% | - | -% | |||||||||||||||||||
$ | - | -% | $ | 35,155 | 100% | $ | 35,650 | 100% | |||||||||||||||||
Preferred H Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 8,694 | 72% | $ | 11,351 | 94% | $ | 13,584 | 100% | ||||||||||||||||
Capital gain | 3,381 | 28% | 725 | 6% | - | -% | |||||||||||||||||||
$ | 12,075 | 100% | $ | 12,076 | 100% | $ | 13,584 | 100% | |||||||||||||||||
Preferred I Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 17,280 | 72% | $ | 12,847 | 94% | $ | - | -% | ||||||||||||||||
Capital gain | 6,720 | 28% | 820 | 6% | - | -% | |||||||||||||||||||
$ | 24,000 | 100% | $ | 13,667 | 100% | $ | - | -% | |||||||||||||||||
Preferred J Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 8,910 | 72% | $ | 2,585 | 94% | $ | - | -% | ||||||||||||||||
Capital gain | 3,465 | 28% | 165 | 6% | - | -% | |||||||||||||||||||
$ | 12,375 | 100% | $ | 2,750 | 100% | $ | - | -% | |||||||||||||||||
Preferred K Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 6,064 | 72% | $ | - | -% | $ | - | -% | ||||||||||||||||
Capital gain | 2,358 | 28% | - | -% | - | -% | |||||||||||||||||||
$ | 8,422 | 100% | $ | - | -% | $ | - | -% | |||||||||||||||||
Common Dividends | |||||||||||||||||||||||||
Ordinary income | $ | 158,001 | 46% | $ | 222,751 | 72% | $ | 208,832 | 71% | ||||||||||||||||
Capital Gain | 61,827 | 18% | 15,469 | 5% | - | -% | |||||||||||||||||||
Return of capital | 123,654 | 36% | 71,156 | 23% | 84,060 | 29% | |||||||||||||||||||
$ | 343,482 | 100% | $ | 309,376 | 100% | $ | 292,892 | 100% | |||||||||||||||||
Total dividends distributed | $ | 400,354 | $ | 382,722 | $ | 353,764 | |||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Income/(loss) before income taxes – U.S. | $ | (4,849 | ) | $ | 8,390 | $ | 36,077 | ||||||||||||||||||
(Provision)/benefit for income taxes, net: | |||||||||||||||||||||||||
Federal : | |||||||||||||||||||||||||
Current | (1,647 | ) | (503 | ) | (2,463 | ) | |||||||||||||||||||
Deferred | 9,725 | (535 | ) | (10,635 | ) | ||||||||||||||||||||
Federal tax (provision)/benefit | 8,078 | (1,038 | ) | (13,098 | ) | ||||||||||||||||||||
State and local: | |||||||||||||||||||||||||
Current | 1,159 | (1,543 | ) | (1,343 | ) | ||||||||||||||||||||
Deferred | 1,562 | (560 | ) | (2,064 | ) | ||||||||||||||||||||
State tax (provision)/benefit | 2,721 | (2,103 | ) | (3,407 | ) | ||||||||||||||||||||
Total tax (provision)/benefit – U.S. | 10,799 | (3,141 | ) | (16,505 | ) | ||||||||||||||||||||
Net income from U.S. taxable REIT subsidiaries | $ | 5,950 | $ | 5,249 | $ | 19,572 | |||||||||||||||||||
Income before taxes – Non-U.S. | $ | 188,215 | $ | 33,842 | $ | 63,154 | |||||||||||||||||||
(Provision)/benefit for Non-U.S. income taxes: | |||||||||||||||||||||||||
Current | $ | (30,102 | ) | $ | 5,790 | $ | (4,484 | ) | |||||||||||||||||
Deferred | 2,045 | 1,239 | 2,784 | ||||||||||||||||||||||
Non-U.S. tax provision | $ | (28,057 | ) | $ | 7,029 | $ | (1,700 | ) | |||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Tax/GAAP basis differences | $ | 50,133 | $ | 68,623 | |||||||||||||||||||||
Net operating losses | 72,716 | 43,483 | |||||||||||||||||||||||
Related party deferred losses | 6,214 | 6,214 | |||||||||||||||||||||||
Tax credit carryforwards | 3,773 | 3,815 | |||||||||||||||||||||||
Capital loss carryforwards | 3,867 | 647 | |||||||||||||||||||||||
Charitable contribution carryforwards | - | 3 | |||||||||||||||||||||||
Non-U.S. tax/GAAP basis differences | 50,920 | 62,548 | |||||||||||||||||||||||
Valuation allowance – U.S. | (25,045 | ) | (33,783 | ) | |||||||||||||||||||||
Valuation allowance – Non-U.S. | (38,667 | ) | (38,129 | ) | |||||||||||||||||||||
Total deferred tax assets | 123,911 | 113,421 | |||||||||||||||||||||||
Deferred tax liabilities – U.S. | (21,302 | ) | (9,933 | ) | |||||||||||||||||||||
Deferred tax liabilities – Non-U.S. | (11,367 | ) | (13,263 | ) | |||||||||||||||||||||
Net deferred tax assets | $ | 91,242 | $ | 90,225 | |||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Federal (benefit)/provision at statutory tax rate (35%) | $ | (1,697 | ) | $ | 2,936 | $ | 12,627 | ||||||||||||||||||
State and local (benefit)/provision, net of federal benefit | (205 | ) | 230 | 1,683 | |||||||||||||||||||||
Acquisition of FNC | (9,126 | ) | - | - | |||||||||||||||||||||
Other | 229 | (25 | ) | 2,195 | |||||||||||||||||||||
Total tax (benefit)/provision – U.S. | $ | (10,799 | ) | $ | 3,141 | $ | 16,505 | ||||||||||||||||||
Summary of Income Tax Contingencies [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Balance, beginning of year | $ | 16,890 | $ | 16,901 | |||||||||||||||||||||
Increases for tax positions related to current year | 15 | 3,079 | |||||||||||||||||||||||
Reductions due to lapsed statute of limitations | - | (3,090 | ) | ||||||||||||||||||||||
Reduction due to adoption of ASU 2013-11(a) | (12,315 | ) | - | ||||||||||||||||||||||
Balance, end of year | $ | 4,590 | $ | 16,890 |
Note_22_Accumulated_Other_Comp1
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accumulated Other Comprehensive Income Loss Disclosure [Abstract] | ' | ||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
Foreign Currency Translation Adjustments | Unrealized Gains on Available-for-Sale Investments | Total | |||||||||||
Balance as of December 31, 2012 | $ | (85,404 | ) | $ | 19,222 | $ | (66,182 | ) | |||||
Other comprehensive income before reclassifications | (10,668 | ) | 16,205 | 5,537 | |||||||||
Amounts reclassified from AOCI | 5,095 | (a) | (9,432 | ) | (b) | (4,337 | ) | ||||||
Net current-period other comprehensive income | (5,573 | ) | 6,773 | 1,200 | |||||||||
Balance as of December 31, 2013 | $ | (90,977 | ) | $ | 25,995 | $ | (64,982 | ) |
Note_23_Supplemental_Financial1
Note 23 - Supplemental Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
2013 (Unaudited) | |||||||||||||||||
Mar. 31 | 30-Jun | Sept. 30 | Dec. 31 | ||||||||||||||
Revenues from rental properties (1) | $ | 220,558 | $ | 225,207 | $ | 226,536 | $ | 238,055 | |||||||||
Net income attributable to the Company | $ | 67,770 | $ | 51,139 | $ | 55,763 | $ | 61,609 | |||||||||
Net income per common share: | |||||||||||||||||
Basic | $ | 0.13 | $ | 0.09 | $ | 0.1 | $ | 0.11 | |||||||||
Diluted | $ | 0.13 | $ | 0.09 | $ | 0.1 | $ | 0.11 | |||||||||
2012 (Unaudited) | |||||||||||||||||
Mar. 31 | 30-Jun | Sept. 30 | Dec. 31 | ||||||||||||||
Revenues from rental properties (1) | $ | 203,208 | $ | 208,648 | $ | 208,130 | $ | 216,895 | |||||||||
Net income attributable to the Company | $ | 53,638 | $ | 69,112 | $ | 54,941 | $ | 88,382 | |||||||||
Net income per common share: | |||||||||||||||||
Basic | $ | 0.09 | $ | 0.12 | $ | 0.07 | $ | 0.14 | |||||||||
Diluted | $ | 0.09 | $ | 0.12 | $ | 0.07 | $ | 0.14 |
Note_24_Pro_Forma_Financial_In1
Note 24 - Pro Forma Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Pro Forma Financial Information Disclosure [Abstract] | ' | ||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||
Year ended December 31, | |||||||||
2013 | 2012 | ||||||||
Revenues from rental properties | $ | 938.8 | $ | 914 | |||||
Net income | $ | 293.6 | $ | 240.4 | |||||
Net income available to the Company’s common shareholders | $ | 230.1 | $ | 131.5 | |||||
Net income attributable to the Company’s common shareholders per common share: | |||||||||
Basic | $ | 0.56 | $ | 0.32 | |||||
Diluted | $ | 0.56 | $ | 0.32 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Summary of Valuation Allowance [Table Text Block] | ' | ||||||||||||||||||||
Balance at beginning of period | Charged to expenses | Adjustments to valuation accounts | Deductions | Balance at end of period | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Allowance for uncollectable accounts | $ | 16,402 | $ | 3,521 | $ | - | $ | (9,152 | ) | $ | 10,771 | ||||||||||
Allowance for deferred tax asset | $ | 71,912 | $ | - | $ | (8,200 | ) | $ | - | $ | 63,712 | ||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Allowance for uncollectable accounts | $ | 18,059 | $ | 6,309 | $ | - | $ | (7,966 | ) | $ | 16,402 | ||||||||||
Allowance for deferred tax asset | $ | 66,520 | $ | - | $ | 5,392 | $ | - | $ | 71,912 | |||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Allowance for uncollectable accounts | $ | 15,712 | $ | 7,027 | $ | - | $ | (4,680 | ) | $ | 18,059 | ||||||||||
Allowance for deferred tax asset | $ | 43,596 | $ | - | $ | 22,924 | $ | - | $ | 66,520 |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Economic Interest | 100.00% | ' | ' |
Financing Receivable, Past Due, Term | '90 days | ' | ' |
Number of Portfolio Segments | 1 | ' | ' |
Capitalized Computer Software, Net (in Dollars) | $28,200,000 | $26,800,000 | ' |
Capitalized Computer Software, Amortization (in Dollars) | 7,600,000 | 5,500,000 | 3,100,000 |
Amount of Ineffectiveness on Net Investment Hedges (in Dollars) | $0 | $0 | $0 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 10,950,388 | 11,159,160 | 13,304,016 |
Restricted Stock Awards, Method of Calculation, Number of Classes | 2 | ' | ' |
Number of Equity Participation Plans | 2 | ' | ' |
TJX Companies [Member] | Base Rental Revenue [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 3.00% | ' | ' |
The Home Depot [Member] | Base Rental Revenue [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 2.80% | ' | ' |
Wal-Mart [Member] | Base Rental Revenue [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 2.30% | ' | ' |
Bed Bath & Beyond [Member] | Base Rental Revenue [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 1.80% | ' | ' |
Khol's [Member] | Base Rental Revenue [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 1.70% | ' | ' |
Prior Plan [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 47,000,000 | ' | ' |
The 2010 Plan [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 10,000,000 | ' | ' |
Employee Stock Option [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Expiration Period | 10 | ' | ' |
Employee Stock Option [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '5 years | ' | ' |
Employee Stock Option [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Restricted Stock [Member] | First Half [Member] | iii [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Percent Vested | 50.00% | ' | ' |
Restricted Stock [Member] | Second Half [Member] | iii [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '2 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Percent Vested | 50.00% | ' | ' |
Restricted Stock [Member] | i [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Percent Vested | 100.00% | ' | ' |
Restricted Stock [Member] | iii [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Restricted Stock [Member] | iv [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '10 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Percent Vested | 20.00% | ' | ' |
Restricted Stock [Member] | Maximum [Member] | ii [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '4 years | ' | ' |
Restricted Stock [Member] | Minimum [Member] | ii [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '50 years | ' | ' |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '15 years | ' | ' |
Largest [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Tenants | 5 | ' | ' |
Base Rental Revenue [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 1.70% | ' | ' |
Gross Leasable Area [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 1.30% | ' | ' |
Potential Adjustment [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Years | 1 | ' | ' |
Construction Completion [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Years | 1 | ' | ' |
Cash Equivalents Policy [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Months | 3 | ' | ' |
After Issuance [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Years | 1 | ' | ' |
Maximum [Member] | Computer Software, Intangible Asset [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | ' | ' |
Minimum [Member] | Computer Software, Intangible Asset [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '3 years | ' | ' |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies (Details) - Reconciliation of Earnings/(Loss) and the Weighted Average Number of Shares (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Oct. 10, 2012 | Aug. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Reconciliation of Earnings/(Loss) and the Weighted Average Number of Shares [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $261,683 | $210,073 | $141,416 | |||
Gain on sale of operating properties, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,432 | 4,299 | 108 | |||
Net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,072 | -14,202 | -13,039 | |||
Discontinued operations attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8,301 | 3,133 | 2,799 | |||
Preferred stock redemption costs | -15,500 | -6,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21,703 | ' | |||
Preferred stock dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -58,294 | -71,697 | -59,363 | |||
Income from continuing operations available to the common Shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 191,448 | 109,903 | 71,921 | |||
Earnings attributable to unvested restricted shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,360 | -1,221 | -608 | |||
Income from continuing operations attributable to common Shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 190,088 | 108,682 | 71,313 | |||
(Loss)/income from discontinued operations attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13,461 | 62,770 | 37,767 | |||
Net income attributable to the Companybs common shareholders for basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 176,627 | 171,452 | 109,080 | |||
Weighted average common shares outstanding (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 407,631 | 405,997 | 406,530 | |||
Income from continuing operations (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.47 | $0.27 | $0.18 | |||
(Loss)/income from discontinued operations (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | $0.15 | $0.09 | |||
Net income (in Dollars per share) | ' | ' | $0.11 | $0.10 | $0.09 | $0.13 | $0.14 | $0.07 | $0.12 | $0.09 | $0.43 | $0.42 | $0.27 | |||
Income from continuing operations attributable to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 190,088 | 108,682 | 71,313 | |||
(Loss)/income from discontinued operations attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13,461 | 62,770 | 37,767 | |||
Net income attributable to the Companybs common shareholders for diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $176,627 | $171,452 | $109,080 | |||
Weighted average common shares outstanding b basic (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 407,631 | 405,997 | 406,530 | |||
Equity awards (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 983 | [1] | 692 | [1] | 1,139 | [1] |
Shares for diluted earnings per common share (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 408,614 | 406,689 | 407,669 | |||
Income from continuing operations (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.47 | $0.27 | $0.18 | |||
(Loss)/income from discontinued operations (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.04) | $0.15 | $0.09 | |||
Net income (in Dollars per share) | ' | ' | $0.11 | $0.10 | $0.09 | $0.13 | $0.14 | $0.07 | $0.12 | $0.09 | $0.43 | $0.42 | $0.27 | |||
[1] | The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 10,950,388, 11,159,160 and 13,304,016, stock options that were not dilutive as of December 31, 2013, 2012 and 2011, respectively. |
Note_2_Real_Estate_Details
Note 2 - Real Estate (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 2 - Real Estate (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Acquired-in-Place Leases | $35,262,000 | $31,248,000 | ' |
Off-market Lease, Unfavorable | 181,500,000 | 167,200,000 | ' |
Other Rental Property [Member] | ' | ' | ' |
Note 2 - Real Estate (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 252,800,000 | 212,900,000 | ' |
Finite-Lived Intangible Asset, Acquired-in-Place Leases | 290,838,000 | 237,166,000 | ' |
Finite-Lived Customer Relationships, Gross | 21,326,000 | 21,335,000 | ' |
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross | 112,979,000 | 99,166,000 | ' |
Below Market Rents [Member] | ' | ' | ' |
Note 2 - Real Estate (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 155,700,000 | 138,300,000 | ' |
Above and Below Market Leases [Member] | ' | ' | ' |
Note 2 - Real Estate (Details) [Line Items] | ' | ' | ' |
Amortization of above and below Market Leases | -11,900,000 | -14,900,000 | -12,000,000 |
Net of Above Market Leases [Member] | ' | ' | ' |
Note 2 - Real Estate (Details) [Line Items] | ' | ' | ' |
Below Market Lease, Amortization Income, Next Twelve Months | 10,500,000 | ' | ' |
Below Market Lease, Amortization Income, Year Two | 10,800,000 | ' | ' |
Below Market Lease, Amortization Income, Year Three | 11,000,000 | ' | ' |
Below Market Lease, Amortization Income, Year Four | 9,700,000 | ' | ' |
Below Market Lease, Amortization Income, Year Five | 7,400,000 | ' | ' |
Leases in Place and Tenant Relationships [Member] | ' | ' | ' |
Note 2 - Real Estate (Details) [Line Items] | ' | ' | ' |
Amortization | 33,200,000 | 30,100,000 | 26,900,000 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 18,600,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 15,300,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 12,400,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 10,100,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $8,200,000 | ' | ' |
Note_2_Real_Estate_Details_Com
Note 2 - Real Estate (Details) - Components of Rental Property (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Property Subject to or Available for Operating Lease [Line Items] | ' | ' | ||
Land | $2,072,099 | $2,024,300 | ||
Buildings and improvements: | ' | ' | ||
Buildings and improvements | 6,953,427 | 6,825,724 | ||
9,025,526 | 8,850,024 | |||
Accumulated depreciation and amortization | -1,878,681 | -1,745,462 | ||
Total | 7,146,845 | 7,104,562 | ||
Land [Member] | ' | ' | ||
Property Subject to or Available for Operating Lease [Line Items] | ' | ' | ||
Land | 1,989,830 | 1,927,800 | ||
Undeveloped Land [Member] | ' | ' | ||
Property Subject to or Available for Operating Lease [Line Items] | ' | ' | ||
Land | 82,269 | 96,500 | ||
Buildings [Member] | ' | ' | ||
Buildings and improvements: | ' | ' | ||
Buildings and improvements | 4,572,740 | 4,607,931 | ||
Building Improvements [Member] | ' | ' | ||
Buildings and improvements: | ' | ' | ||
Buildings and improvements | 1,168,959 | 1,091,810 | ||
Tenant Improvements [Member] | ' | ' | ||
Buildings and improvements: | ' | ' | ||
Buildings and improvements | 725,570 | 708,626 | ||
Fixtures And Leasehold Improvements [Member] | ' | ' | ||
Buildings and improvements: | ' | ' | ||
Buildings and improvements | 61,015 | 59,690 | ||
Other Rental Property [Member] | ' | ' | ||
Buildings and improvements: | ' | ' | ||
Buildings and improvements | $425,143 | [1] | $357,667 | [1] |
[1] | At December 31, 2013 and 2012, Other rental property (net of accumulated amortization of $252.8 million and $212.9 million, respectively), consisted of intangible assets including (i) $290,838 and $237,166, respectively, of in-place leases, (ii) $21,326 and $21,335, respectively, of tenant relationships, and (iii) $112,979 and $99,166, respectively, of above-market leases. |
Note_3_Property_Acquisitions_D2
Note 3 - Property Acquisitions, Developments and Other Investments (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||||
Jul. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | $21,711,000 | $15,555,000 | $569,000 | ||
Payments to Acquire Businesses, Gross | ' | 367,752,000 | 455,280,000 | ' | ||
Business Disposition, Percentage of Voting Interests Sold | 4.00% | ' | ' | ' | ||
Proceeds from Divestiture of Businesses | 100,000 | ' | ' | ' | ||
Payments to Acquire Additional Interest in Subsidiaries | ' | 9,400,000 | 12,000,000 | ' | ||
Noncontrolling Interest, Period Increase (Decrease) | ' | 400,000 | 10,400,000 | ' | ||
Adjustments to Additional Paid in Capital, Other | ' | 8,200,000 | 300,000 | ' | ||
Land Parcels [Member] | Consolidated Joint Venture, in which the Company Has a 99.1% Controlling Interest [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Number of Real Estate Properties | ' | ' | 67 | ' | ||
Land Parcels [Member] | Consolidated Joint Venture, in which the Company has a 92.0% Controlling Interest [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Number of Real Estate Properties | ' | ' | 2 | ' | ||
Corporate Joint Venture [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | 15.00% | ' | ||
United States [Member] | Ground Up Developments [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Number of Real Estate Properties | ' | ' | 2 | ' | ||
Peru [Member] | Ground Up Developments [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Number of Real Estate Properties | ' | ' | 1 | ' | ||
Consolidated Joint Venture, in which the Company Has a 99.1% Controlling Interest [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | 99.10% | ' | ||
Consolidated Joint Venture, in which the Company has a 92.0% Controlling Interest [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | 92.00% | ' | ||
Joint Venture in which the Company had a 30% Noncontrolling Interest [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | 30.00% | ' | ||
Joint Venture in which the Company has a 50% Noncontrolling Interest [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | ' | 400,000 | ' | ||
Acquisitions [Member] | Santee Trolley Square [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Equity Method Investment, Ownership Percentage | ' | 45.00% | ' | ' | ||
Acquisitions [Member] | Shops at Kildeer [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Equity Method Investment, Ownership Percentage | ' | 19.00% | ' | ' | ||
Acquisitions [Member] | Putty Hill Plaza [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Equity Method Investment, Ownership Percentage | ' | 20.00% | ' | ' | ||
Business Acquisition, Percentage of Voting Interests Acquired | ' | 80.00% | ' | ' | ||
Ground Up Developments [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Number of Real Estate Properties | ' | ' | 3 | ' | ||
JTS Properties [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Loss | ' | 9,600,000 | ' | ' | ||
Repayments of Debt | ' | 43,300,000 | ' | ' | ||
Pompano Beach [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | 50.00% | ' | ||
Greeley Shopping Center [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | 11.00% | ' | ||
Snowden Square [Member] | University Town Center [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | ' | 1,000,000 | ' | ||
Snowden Square [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | 50.00% | ' | ||
Santee Trolley Square [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | 22,700,000 | ' | ' | ||
Payments to Acquire Businesses, Gross | ' | 26,863,000 | [1] | ' | ' | |
Shops at Kildeer [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Payments to Acquire Businesses, Gross | ' | ' | [2] | ' | ' | |
Putty Hill Plaza [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | 500,000 | ' | ' | ||
Payments to Acquire Businesses, Gross | ' | 4,592,000 | [3] | ' | ' | |
Wilton River Park Shopping Ctr [Member] | Convertible Debt [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | ' | 5,200,000 | ' | ' | ||
Wilton River Park Shopping Ctr [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Debt Instrument, Interest Rate, Stated Percentage | ' | 6.50% | ' | ' | ||
Loans Receivable, Net | ' | 5,200,000 | ' | ' | ||
Payments to Acquire Businesses, Gross | ' | 777,000 | [4] | ' | ' | |
Canyon Square Plaza [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Equity Method Investment, Ownership Percentage | ' | 15.00% | ' | ' | ||
Payments to Acquire Businesses, Gross | ' | 1,950,000 | [5] | ' | ' | |
Factoria Mall [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Equity Method Investment, Ownership Percentage | ' | 50.00% | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | 8,200,000 | ' | ' | ||
Business Acquisition, Percentage of Voting Interests Acquired | ' | 49.00% | ' | ' | ||
Payments to Acquire Businesses, Gross | ' | 37,283,000 | [6] | ' | ' | |
Frontier Village and Silverdale S.C. [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | ' | 2,000,000 | ' | ||
Consolidated Joint Venture, in which the Company Has a 99.1% Controlling Interest [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Acquisition, Percentage of Voting Interests Acquired | 0.90% | ' | ' | ' | ||
Payments to Acquire Businesses, Gross | 700,000 | ' | ' | ' | ||
Towson Place [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ' | ' | 12,100,000 | ' | ||
Payments to Acquire Businesses, Gross | ' | ' | 69,375,000 | [7] | ' | |
Promote Income | ' | ' | 1,100,000 | ' | ||
Noncash or Part Noncash Acquisition, Debt Assumed | ' | ' | 57,600,000 | ' | ||
FNC Realty Corporation [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | 82.70% | ' | ||
Payments to Acquire Businesses, Gross | ' | 20,300,000 | 15,300,000 | ' | ||
Noncontrolling Interest, Period Increase (Decrease) | ' | 19,700,000 | ' | ' | ||
Adjustments to Additional Paid in Capital, Other | ' | -700,000 | 100,000 | ' | ||
Additional Interest Acquired Percentage | ' | 17.30% | 13.62% | ' | ||
FNC Realty Corporation [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Noncontrolling Interest, Period Increase (Decrease) | ' | $15,400,000 | ' | ' | ||
Convertible Debt [Member] | ' | ' | ' | ' | ||
Note 3 - Property Acquisitions, Developments and Other Investments (Details) [Line Items] | ' | ' | ' | ' | ||
Debt Instrument Convertible Term | ' | '1 year | ' | ' | ||
Debt Instrument, Interest Rate, Stated Percentage | ' | 6.00% | ' | ' | ||
[1] | This property was acquired from a joint venture in which the Company had a 45% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $22.7 million, before income tax, from the fair value adjustment associated with the Company's original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||||
[2] | This property was acquired from a joint venture in which the Company had a 19% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||||
[3] | The Company acquired the remaining 80% interest in an operating property from an unconsolidated joint venture in which the Company had a 20% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $0.5 million from the fair value adjustment associated with the Company's original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||||
[4] | The acquisition of this property included the issuance of $5.2 million of redeemable units, which are redeemable at the option of the holder after one year and earn a yield of 6% per annum, which is included in the purchase price above in Other. In connection with this transaction, the Company provided the sellers a $5.2 million loan at a rate of 6.5%, which is secured by the redeemable units. | |||||
[5] | This property was acquired from a joint venture in which the Company has a 15% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||||
[6] | The Company acquired an additional 49% interest in this operating property from an unconsolidated joint venture in which the Company had a 50% noncontrolling interest. As such the Company now consolidates this investment. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as a result, recognized a gain of $8.2 million from the fair value adjustment associated with the Company's original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||||
[7] | This property was acquired from a joint venture in which the Company had a 30% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $12.1 million from the fair value adjustment associated with its original ownership due to a change in control. In addition, the Company recognized promote income of $1.1 million in connection with this transaction. The promote income is included in Equity in income of joint ventures, net on the Company's Consolidated Statements of Income. Additionally, the debt assumed in connection with this transaction of $57.6 million was repaid in May 2012. |
Note_3_Property_Acquisitions_D3
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Acquisition of Operating Properties (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | $367,752 | $455,280 | ||
Purchase Price - Debt Assumed | 279,123 | 179,198 | ||
Purchase Price- Other | 77,593 | ' | ||
Purchase Price - Total | 724,468 | 634,478 | ||
GLA | 4,057 | [1] | 3,086 | [1] |
Santee Trolley Square [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 26,863 | [2] | ' | |
Purchase Price - Debt Assumed | 48,456 | [2] | ' | |
Purchase Price- Other | 22,681 | [2] | ' | |
Purchase Price - Total | 98,000 | [2] | ' | |
GLA | 311 | [1],[2] | ' | |
Shops at Kildeer [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | [3] | ' | |
Purchase Price - Debt Assumed | 32,724 | [3] | ' | |
Purchase Price- Other | ' | [3] | ' | |
Purchase Price - Total | 32,724 | [3] | ' | |
GLA | 168 | [1],[3] | ' | |
Village Commons S.C. [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 7,100 | ' | ||
Purchase Price - Total | 7,100 | ' | ||
GLA | 125 | [1] | ' | |
Putty Hill Plaza [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 4,592 | [4] | ' | |
Purchase Price - Debt Assumed | 9,115 | [4] | ' | |
Purchase Price- Other | 489 | [4] | ' | |
Purchase Price - Total | 14,196 | [4] | ' | |
GLA | 91 | [1],[4] | ' | |
Columbia Crossing II S.C. [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 21,800 | ' | ||
Purchase Price - Total | 21,800 | ' | ||
GLA | 101 | [1] | ' | |
Roseville Plaza [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 5,143 | ' | ||
Purchase Price - Total | 5,143 | ' | ||
GLA | 80 | [1] | ' | |
Wilton River Park Shopping Ctr [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 777 | [5] | ' | |
Purchase Price - Debt Assumed | 36,000 | [5] | ' | |
Purchase Price- Other | 5,223 | [5] | ' | |
Purchase Price - Total | 42,000 | [5] | ' | |
GLA | 187 | [1],[5] | ' | |
Canyon Square Plaza [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 1,950 | [6] | ' | |
Purchase Price - Debt Assumed | 13,800 | [6] | ' | |
Purchase Price- Other | ' | [6] | ' | |
Purchase Price - Total | 15,750 | [6] | ' | |
GLA | 97 | [1],[6] | ' | |
JTS Properties [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | [7] | ' | |
Purchase Price - Debt Assumed | 43,267 | [7] | ' | |
Purchase Price- Other | 11,733 | [7] | ' | |
Purchase Price - Total | 55,000 | [7] | ' | |
GLA | 520 | [1],[7] | ' | |
Factoria Mall [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 37,283 | [8] | ' | |
Purchase Price - Debt Assumed | 56,000 | [8] | ' | |
Purchase Price- Other | 37,467 | [8] | ' | |
Purchase Price - Total | 130,750 | [8] | ' | |
GLA | 510 | [1],[8] | ' | |
Outparcel [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 13,053 | ' | ||
Purchase Price - Total | 13,053 | ' | ||
GLA | 97 | [1] | ' | |
Highlands Ranch [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 14,600 | ' | ||
Purchase Price - Total | 14,600 | ' | ||
GLA | 44 | [1] | ' | |
Elmsford [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 23,000 | ' | ||
Purchase Price - Total | 23,000 | ' | ||
GLA | 143 | [1] | ' | |
Northridge Shopping Center [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 8,239 | ' | ||
Purchase Price - Debt Assumed | 11,511 | ' | ||
Purchase Price - Total | 19,750 | ' | ||
GLA | 146 | [1] | ' | |
Five Forks Crossing [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 9,825 | ' | ||
Purchase Price - Total | 9,825 | ' | ||
GLA | 74 | [1] | ' | |
Greenwood [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 4,067 | ' | ||
Purchase Price - Total | 4,067 | ' | ||
GLA | 30 | [1] | ' | |
Clark Portfolio [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 35,553 | ' | ||
Purchase Price - Total | 35,553 | ' | ||
GLA | 189 | [1] | ' | |
Winn Dixie Portfolio 6 Properties [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 43,506 | ' | ||
Purchase Price - Total | 43,506 | ' | ||
GLA | 392 | [1] | ' | |
Tomball SC [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 35,327 | ' | ||
Purchase Price - Total | 35,327 | ' | ||
GLA | 149 | [1] | ' | |
Atascocita SC [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 38,250 | ' | ||
Purchase Price - Debt Assumed | 28,250 | ' | ||
Purchase Price - Total | 66,500 | ' | ||
GLA | 317 | [1] | ' | |
Lawrenceville Market [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | 36,824 | ' | ||
Purchase Price - Total | $36,824 | ' | ||
GLA | 286 | [1] | ' | |
[1] | Gross leasable area ("GLA") | |||
[2] | This property was acquired from a joint venture in which the Company had a 45% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $22.7 million, before income tax, from the fair value adjustment associated with the Company's original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||
[3] | This property was acquired from a joint venture in which the Company had a 19% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||
[4] | The Company acquired the remaining 80% interest in an operating property from an unconsolidated joint venture in which the Company had a 20% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $0.5 million from the fair value adjustment associated with the Company's original ownership due to a change in control, which is reflected in the purchase price above in Other. | |||
[5] | The acquisition of this property included the issuance of $5.2 million of redeemable units, which are redeemable at the option of the holder after one year and earn a yield of 6% per annum, which is included in the purchase price above in Other. In connection with this transaction, the Company provided the sellers a $5.2 million loan at a rate of 6.5%, which is secured by the redeemable units. | |||
[6] | This property was acquired from a joint venture in which the Company has a 15% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||
[7] | The Company acquired the remaining interest in a portfolio of office properties from a preferred equity investment in which the Company held a noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a change in control loss of $9.6 million from the fair value adjustment associated with the Company's original ownership, which is reflected in the purchase price above in Other. The debt assumed in connection with this transaction of $43.3 million was repaid in April 2013 and the properties within the portfolio were later sold during October and November 2013 | |||
[8] | The Company acquired an additional 49% interest in this operating property from an unconsolidated joint venture in which the Company had a 50% noncontrolling interest. As such the Company now consolidates this investment. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as a result, recognized a gain of $8.2 million from the fair value adjustment associated with the Company's original ownership due to a change in control, which is reflected in the purchase price above in Other. |
Note_3_Property_Acquisitions_D4
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Acquisition of Operating Properties (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | $367,752 | $455,280 | ||
Purchase Price - Debt Assumed | 279,123 | 179,198 | ||
Purchase Price - Total | 724,468 | 634,478 | ||
GLA | 4,057 | [1] | 3,086 | [1] |
Woodbridge S.C. [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 9,000 | ||
Purchase Price - Total | ' | 9,000 | ||
GLA | ' | 97 | [1] | |
Bell Camino Center [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 4,185 | ||
Purchase Price - Debt Assumed | ' | 4,210 | ||
Purchase Price - Total | ' | 8,395 | ||
GLA | ' | 63 | [1] | |
Various 31 Parcels [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 30,753 | [2] | |
Purchase Price - Total | ' | 30,753 | [2] | |
GLA | ' | 83 | [1],[2] | |
Duncan, SC 1 Parcel [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 1,048 | [3] | |
Purchase Price - Total | ' | 1,048 | [3] | |
GLA | ' | 3 | [1],[3] | |
Olympia West Outparcel [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 1,200 | ||
Purchase Price - Total | ' | 1,200 | ||
GLA | ' | 6 | [1] | |
Frontier Village [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 12,231 | [4] | |
Purchase Price - Debt Assumed | ' | 30,900 | [4] | |
Purchase Price - Total | ' | 43,131 | [4] | |
GLA | ' | 195 | [1],[4] | |
Silverdale S.C. [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 8,335 | [4] | |
Purchase Price - Debt Assumed | ' | 24,000 | [4] | |
Purchase Price - Total | ' | 32,335 | [4] | |
GLA | ' | 170 | [1],[4] | |
Various 30 Parcels [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 39,493 | [2] | |
Purchase Price - Total | ' | 39,493 | [2] | |
GLA | ' | 107 | [1],[2] | |
Peru, IL 1 Parcel [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 995 | [3] | |
Purchase Price - Total | ' | 995 | [3] | |
GLA | ' | 4 | [1],[3] | |
Towson Place [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 69,375 | [5] | |
Purchase Price - Debt Assumed | ' | 57,625 | [5] | |
Purchase Price - Total | ' | 127,000 | [5] | |
GLA | ' | 680 | [1],[5] | |
Prien Lake Outparcel [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 1,800 | ||
Purchase Price - Total | ' | 1,800 | ||
GLA | ' | 8 | [1] | |
Devon Village [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 28,550 | ||
Purchase Price - Total | ' | 28,550 | ||
GLA | ' | 79 | [1] | |
Various, NC 4 Properties [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 63,750 | ||
Purchase Price - Total | ' | 63,750 | ||
GLA | ' | 368 | [1] | |
Lake Jackson [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 5,500 | [6] | |
Purchase Price - Total | ' | 5,500 | [6] | |
GLA | ' | 35 | [1],[6] | |
Woodlawn S.C. [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 7,050 | ||
Purchase Price - Total | ' | 7,050 | ||
GLA | ' | 137 | [1] | |
Columbia Crossing - 2 Outparcels [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 11,060 | ||
Purchase Price - Total | ' | 11,060 | ||
GLA | ' | 69 | [1] | |
Pompano Beach [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 12,180 | [7] | |
Purchase Price - Total | ' | 12,180 | [7] | |
GLA | ' | 81 | [1],[7] | |
Various 6 Parcels [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 8,111 | [2] | |
Purchase Price - Total | ' | 8,111 | [2] | |
GLA | ' | 19 | [1],[2] | |
Wilton S.C. [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 18,800 | ||
Purchase Price - Debt Assumed | ' | 20,900 | ||
Purchase Price - Total | ' | 39,700 | ||
GLA | ' | 96 | [1] | |
Hawthorne Hills S. C. [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 15,974 | ||
Purchase Price - Debt Assumed | ' | 21,563 | ||
Purchase Price - Total | ' | 37,537 | ||
GLA | ' | 193 | [1] | |
Greeley Shopping Center [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 23,250 | [8] | |
Purchase Price - Total | ' | 23,250 | [8] | |
GLA | ' | 139 | [1],[8] | |
Savi Ranch Center Phase II [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 34,500 | ||
Purchase Price - Total | ' | 34,500 | ||
GLA | ' | 161 | [1] | |
Wild Lake Plaza Outparcel [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 300 | ||
Purchase Price - Total | ' | 300 | ||
GLA | ' | 75 | [1] | |
City Heights Retail Village [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 15,600 | ||
Purchase Price - Debt Assumed | ' | 20,000 | ||
Purchase Price - Total | ' | 35,600 | ||
GLA | ' | 109 | [1] | |
Snowden Square [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 6,182 | [9] | |
Purchase Price - Total | ' | 6,182 | [9] | |
GLA | ' | 50 | [1],[9] | |
bKey Foodb Portfolio (5 Properties) [Member] | ' | ' | ||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ||
Purchase Price - Cash | ' | 26,058 | ||
Purchase Price - Total | ' | $26,058 | ||
GLA | ' | 59 | [1] | |
[1] | Gross leasable area ("GLA") | |||
[2] | Acquired an aggregate of 67 parcels net leased to restaurants through a consolidated joint venture, in which the Company has a 99.1% controlling interest. During July 2012, the Company purchased the remaining 0.9% interest for $0.7 million. | |||
[3] | Acquired an aggregate of two parcels net leased to restaurants through a consolidated joint venture, in which the Company has a 92.0% controlling interest. During July 2012, the Company sold 4% of its interest for $0.1 million. The Company continues to have a controlling interest in the joint venture and therefore continues to consolidate this investment. | |||
[4] | These properties were acquired from a joint venture in which the Company has a 15% noncontrolling interest. The Company evaluated these transactions pursuant to the FASB's Consolidation guidance and as such recognized an aggregate gain of $2.0 million from the fair value adjustment associated with its original ownership due to a change in control. | |||
[5] | This property was acquired from a joint venture in which the Company had a 30% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $12.1 million from the fair value adjustment associated with its original ownership due to a change in control. In addition, the Company recognized promote income of $1.1 million in connection with this transaction. The promote income is included in Equity in income of joint ventures, net on the Company's Consolidated Statements of Income. Additionally, the debt assumed in connection with this transaction of $57.6 million was repaid in May 2012. | |||
[6] | The Company acquired this property from a preferred equity investment in which the Company held a noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||
[7] | This property was acquired from a joint venture in which the Company had a 50% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. This transaction resulted in a change in control with no gain or loss recognized. | |||
[8] | This property was acquired from a joint venture in which the Company has an 11% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $0.4 million from the fair value adjustment associated with its original ownership due to a change in control. | |||
[9] | This property was acquired from a joint venture in which the Company has a 50% noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $1.0 million from the fair value adjustment associated with its original ownership due to a change in control. |
Note_3_Property_Acquisitions_D5
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Purchase Price Allocation (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Purchase Price Allocation [Line Items] | ' | ' |
Mortgage Fair Value Adjustment | ($5,794) | ($5,965) |
Other Assets | 894 | ' |
Other Liabilities | -401 | ' |
724,468 | 634,478 | |
Below Market Rents | -25,298 | -40,375 |
Above Market Rents | 15,758 | 14,977 |
In-Place Leases | 35,262 | 31,248 |
Land [Member] | ' | ' |
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Purchase Price Allocation [Line Items] | ' | ' |
Property | 198,263 | 196,219 |
Building [Member] | ' | ' |
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Purchase Price Allocation [Line Items] | ' | ' |
Property | 368,478 | 319,955 |
Building Improvements [Member] | ' | ' |
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Purchase Price Allocation [Line Items] | ' | ' |
Property | 115,110 | 99,092 |
Leasehold Improvements [Member] | ' | ' |
Note 3 - Property Acquisitions, Developments and Other Investments (Details) - Purchase Price Allocation [Line Items] | ' | ' |
Property | $22,196 | $19,327 |
Note_4_Dispositions_of_Real_Es1
Note 4 - Dispositions of Real Estate (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
USD ($) | USD ($) | USD ($) | Outparcel [Member] | Operating Properties [Member] | Operating Properties [Member] | Operating Properties [Member] | Outparcel [Member] | Outparcel [Member] | Land Parcels [Member] | Land Parcels [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Additional Dispositions [Member] | Additional Dispositions [Member] | Additional Dispositions [Member] | Disposition by Joint Venture [Member] | Disposition by Joint Venture [Member] | Transfers [Member] | Transfers [Member] | Land Parcels [Member] | Land Parcels [Member] | Land Parcels [Member] | Land Parcels [Member] | Outparcel [Member] | Joint Venture in which the Company has a 20% Noncontrolling Interest [Member] | |
Initial Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Additional Dispositions [Member] | Initial Dispositions [Member] | Initial Dispositions [Member] | Additional Dispositions [Member] | Financing Receivable [Member] | Financing Receivable [Member] | Operating Properties [Member] | Development Property [Member] | Outparcel [Member] | After First Six Months 7.5% [Member] | USD ($) | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | Latin America Portfolio [Member] | Land Parcels [Member] | Land Parcels [Member] | Noncontrolling Interest [Member] | USD ($) | Merchant Building Property [Member] | USD ($) | Seller Financing [Member] | First Six Months 6.5% [Member] | USD ($) | USD ($) | USD ($) | ||||||
USD ($) | Initial [Member] | USD ($) | Seller Financing [Member] | Minimum [Member] | Maximum [Member] | USD ($) | USD ($) | MXN | USD ($) | USD ($) | |||||||||||||||||||||||||
Note 4 - Dispositions of Real Estate (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Real Estate Properties | ' | ' | ' | 2 | 62 | 36 | ' | ' | 3 | 1 | ' | ' | ' | 27 | 1 | 1 | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | 1 | ' | 9 | 2 | 2 | ' |
Sales of Real Estate | ' | ' | ' | ' | $418,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $279,500,000 | $4,100,000 | $124,900,000 | ' | ' | $115,400,000 | $1,900,000 | 24,300,000 | ' | $6,100,000 | $37,600,000 | $23,900,000 | ' | ' | $18,200,000 | ' | ' | $55,500,000 |
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax | -48,731,000 | -85,894,000 | -17,327,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,400,000 | 85,900,000 | 17,300,000 | ' | ' | 23,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of Real Estate | 59,600,000 | ' | ' | ' | ' | ' | ' | 22,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 61,900,000 | ' | 16,900,000 | ' | ' | 26,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Transaction Gain (Loss), Realized | 0 | 0 | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Net | ' | ' | ' | ' | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | ' |
Financing Receivable, Stated Interest Rate | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% |
Gain (Loss) on Sale of Properties | ' | ' | 12,074,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | 400,000 | 5,700,000 | ' | ' | ' | ' | ' | ' | 11,500,000 | ' | ' | 10,000,000 |
Deferred Gain on Sale of Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | 100,000 | ' | ' | ' | ' | ' | 2,000,000 |
Number of Transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | 18,224,000 | 21,082,000 | 40,582,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Sale of Properties, before Applicable Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,200,000 | 400,000 | ' | ' | ' | ' | ' | ' |
Sales of Real Estate (in Pesos) | ' | ' | ' | ' | 418,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 279,500,000 | 4,100,000 | 124,900,000 | ' | ' | 115,400,000 | 1,900,000 | 24,300,000 | ' | 6,100,000 | 37,600,000 | 23,900,000 | ' | ' | 18,200,000 | ' | ' | 55,500,000 |
Gain (Loss) on Sale of Properties (in Pesos) | ' | ' | $12,074,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,000,000 | ' | ' | ' | ' | $400,000 | 5,700,000 | ' | ' | ' | ' | ' | ' | $11,500,000 | ' | ' | $10,000,000 |
Note_5_Discontinued_Operations2
Note 5 - Discontinued Operations and Assets Held-for-Sale (Details) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | |||
Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Operating Properties [Member] | Operating Properties [Member] | Operating Properties [Member] | Prior to Sales [Member] | |||||
Operating Properties [Member] | Operating Properties [Member] | Eight Operating Properties [Member] | Three Operating Properties [Member] | Prior to Sales [Member] | Prior to Sales [Member] | Remaining [Member] | Remaining [Member] | Operating Properties [Member] | Land Parcels [Member] | Sold [Member] | Sold [Member] | Sold [Member] | Remaining [Member] | ||||||||
Remaining [Member] | |||||||||||||||||||||
Note 5 - Discontinued Operations and Assets Held-for-Sale (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of Real Estate Properties | ' | ' | 19 | 7 | ' | ' | ' | ' | ' | ' | 18 | ' | 5 | 1 | ' | 1 | 2 | 5 | ' | ||
Gross Leasable Area | 4,057 | [1] | 3,086 | [1] | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | 200,000 | ' | ' | ' | ' |
Real Estate Held-for-sale | $70,300,000 | $3,400,000 | ' | ' | ' | ' | $10,000,000 | ' | $178,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $73,200,000 | ||
Real Estate Investment Property, Accumulated Depreciation | 1,878,681,000 | 1,745,462,000 | ' | ' | ' | ' | ' | 57,200,000 | 19,200,000 | 7,300,000 | ' | ' | 8,100,000 | 6,800,000 | ' | ' | ' | ' | ' | ||
Impairment of Real Estate | 59,600,000 | ' | ' | ' | 25,200,000 | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair Value of Real Estate | $217,529,000 | $52,505,000 | ' | $19,700,000 | $158,600,000 | $102,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | Gross leasable area ("GLA") |
Note_5_Discontinued_Operations3
Note 5 - Discontinued Operations and Assets Held-for-Sale (Details) - Income from Discontinued Operations (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Revenues from rental property | $44,168 | $76,442 | $113,508 |
Rental property expenses | -14,861 | -26,203 | -40,054 |
Depreciation and amortization | -10,318 | -25,820 | -32,878 |
Provision for doubtful accounts | -847 | -2,243 | -2,904 |
Interest income/(expense) | 300 | -2,882 | -3,672 |
Income from other real estate investments | 208,689 | 112,896 | 63,467 |
Other expense, net | -449 | -922 | -351 |
Income from discontinued operating properties, before income taxes | 17,993 | 18,385 | 35,352 |
Impairment of property carrying value, before income taxes | -98,815 | -49,280 | -19,698 |
Gain on disposition of operating properties, before income taxes | 48,731 | 85,894 | 17,327 |
Benefit for income taxes | 10,329 | 10,904 | 7,585 |
(Loss)/income from discontinued operating properties | -21,762 | 65,903 | 40,566 |
Net loss/(income) attributable to noncontrolling interests | 8,301 | -3,133 | -2,799 |
(Loss)/income from discontinued operations attributable to the Company | -13,461 | 62,770 | 37,767 |
Other [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income from other real estate investments | ' | $13 | $1,703 |
Note_6_Impairments_Details
Note 6 - Impairments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | $190,218,000 | $59,569,000 | $32,763,000 |
Income Tax Expense (Benefit) | 34,520,000 | 16,922,000 | 25,789,000 |
Impairment of Real Estate | 59,600,000 | ' | ' |
Before Income Tax Benefit and Noncontrolling Interest [Member] | Two Land Parcels and Four Operating Properties [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | 18,500,000 | ' | ' |
Income Tax Benefit Amount [Member] | Two Land Parcels and Four Operating Properties [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | 6,400,000 | ' | ' |
Income Tax Benefit Amount [Member] | ThreeLandParcelsMember | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | ' | 2,900,000 | ' |
Income Tax Benefit Amount [Member] | Operating Property and Four Land Parcels [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | ' | ' | 1,100,000 |
Income Tax Benefit Amount [Member] | Preferred Equity Investment [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Income Tax Expense (Benefit) | 1,100,000 | ' | ' |
Noncontrolling Interest Amount [Member] | Two Land Parcels and Four Operating Properties [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Income (Loss) Attributable to Noncontrolling Interest | 1,000,000 | ' | ' |
Before Income Tax Benefit [Member] | ThreeLandParcelsMember | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | ' | 7,600,000 | ' |
Before Income Tax Benefit [Member] | Operating Property and Four Land Parcels [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | ' | ' | 3,100,000 |
Before Income Tax Benefit [Member] | Preferred Equity Investment [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | 2,600,000 | ' | ' |
Additionally Recorded [Member] | Redevelopment Joint Venture Property [Member] | Harlem, New York [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Equity Method Investment, Other than Temporary Impairment | ' | ' | 2,000,000 |
Mexico Portfolio [Member] | Operating Properties [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | 58,200,000 | ' | ' |
Estimated Fair Value [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | 4,700,000 | ' | ' |
Preferred Equity Investment [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | ' | 2,700,000 | 2,200,000 |
Redevelopment Joint Venture Property [Member] | Harlem, New York [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Equity Method Investment, Other than Temporary Impairment | ' | ' | 3,100,000 |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | 13.40% |
Equity Method Investments [Member] | ' | ' | ' |
Note 6 - Impairments (Details) [Line Items] | ' | ' | ' |
Impairment of Real Estate | $29,500,000 | $11,100,000 | $14,100,000 |
Note_6_Impairments_Details_Ass
Note 6 - Impairments (Details) - Asset Impairment Charges (USD $) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Real estate | $59,600,000 | ' | ' | |||
Marketable securities and other investments* (4) | 10,700,000 | [1] | ' | [1] | 1,600,000 | [1] |
Investments in real estate joint ventures* (9) | 1,100,000 | [2] | ' | [2] | 5,100,000 | [2] |
Impairment charges | 190,218,000 | 59,569,000 | 32,763,000 | |||
Income tax benefit | 34,520,000 | 16,922,000 | 25,789,000 | |||
Impairment Charge [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Income tax benefit | -22,400,000 | -10,600,000 | -4,500,000 | |||
Noncontrolling Interest [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Noncontrolling interests | -10,600,000 | -400,000 | 700,000 | |||
Operating Expense [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Impairment charges | 91,400,000 | 10,300,000 | 13,100,000 | |||
Net [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Impairment charges | 157,200,000 | 48,600,000 | 29,000,000 | |||
Discontinued Operations [Member] | Property Carrying Values [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Real estate | 98,800,000 | [3] | 49,300,000 | [3] | 19,700,000 | [3] |
Discontinued Operations [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Real estate | 49,300,000 | ' | ' | |||
Impairment charges | 98,800,000 | ' | ' | |||
Property Carrying Values [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Real estate | 76,700,000 | [4],[5],[6],[7],[8] | 7,600,000 | [4],[5],[6],[7],[8] | 3,100,000 | [4],[5],[6],[7],[8] |
Other Real Estate Investments [Member] | ' | ' | ' | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | |||
Real estate | $2,900,000 | [10],[11],[9] | $2,700,000 | [10],[11],[9] | $3,300,000 | [10],[11],[9] |
[1] | During 2013, the Company reviewed the underlying cause of the decline in value of a cost method investment, as well as the severity and the duration of the decline and determined that the decline was other-than-temporary. Impairment charges were recognized based upon the calculation of an estimated fair value of $4.7 million using a discounted cash flow model. | |||||
[2] | During 2011, the Company exited its investment in a redevelopment joint venture property in Harlem, NY. As a result, the Company recognized an-other-than-temporary impairment charge of approximately $3.1 million representing the Company's entire investment balance. Additionally, during 2011, the Company recorded an other-than-temporary impairment of $2.0 million, before income tax benefit, against the carrying value of an investment in which the Company held a 13.4% noncontrolling ownership interest. The Company determined the fair value of its investment based on the estimated sales price of the property in the joint venture. | |||||
[3] | See Footnotes 4 & 5 above for additional disclosure. | |||||
[4] | During 2013, the Company was in advanced negotiations to sell several operating properties within its Mexico portfolio. Based upon the allocation of the estimated selling prices, the Company determined that the estimated fair values of certain of the properties were below their respective current carrying value. As such, the Company recorded impairment charges of $58.2 million relating to these assets. This amount is subject to change based upon finalization of contract terms, closing costs, additional cash amounts received as earn outs and fluctuations in the Mexican Peso exchange rate (see Footnote 22). | |||||
[5] | During 2013, the Company recorded $18.5 million, before an income tax benefit of $6.4 million and noncontrolling interests of $1.0 million, in impairment charges primarily related to two land parcels and four operating properties based upon purchase prices or purchase price offers. | |||||
[6] | During 2012, the Company recognized an aggregate impairment charge of $7.6 million, before income tax benefit of $2.9 million, relating to its investment in four land parcels. The estimated aggregate fair value of these properties was based upon purchase price offers. | |||||
[7] | During 2011, the Company recognized an aggregate impairment charge of $3.1 million, before income tax benefit of $1.1 million, relating to a portion of an operating property and four land parcels. The estimated aggregate fair value of these properties was based upon purchase price offers. | |||||
[8] | See Footnote 15 for additional disclosure on fair value. | |||||
[9] | Based upon a review of the debt maturity status and the likelihood of foreclosure of the underlying property within one of the Company's preferred equity investments, the Company believes it will not recover its investment and as such recorded a full impairment of $2.6 million, before an income tax benefit of $1.1 million, on its investment during 2013. | |||||
[10] | Based upon a review of the debt maturity status and the likelihood of foreclosure of the underlying property within one of the Company's preferred equity net leased investment, the Company believed it would not recover its investment and as such recorded a full impairment of $2.7 million on its investment during 2012. | |||||
[11] | During 2011, two properties within two of the Company's preferred equity investments were in default of their respective mortgages and received foreclosure notices from the respective mortgage lenders. As such, the Company recognized full impairment charges on both of the investments aggregating $2.2 million. |
Note_7_Investment_and_Advances2
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Oct. 31, 2001 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |||||||||||||||||||
USD ($) | USD ($) | USD ($) | KimPru and KimPru II [Member] | KimPru and KimPru II [Member] | KimPru and KimPru II [Member] | KimPru [Member] | KimPru [Member] | KimPru [Member] | KimPru [Member] | KimPru [Member] | KimPru [Member] | KimPru [Member] | KimPru [Member] | Intown [Member] | Intown [Member] | Intown [Member] | Intown [Member] | Intown [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | Kimco Income Fund [Member] | Kimco Income Fund [Member] | KIR [Member] | KIR [Member] | KIR [Member] | KIR [Member] | KIR [Member] | KIR [Member] | KIR [Member] | KIR [Member] | UBS Programs [Member] | UBS Programs [Member] | UBS Programs [Member] | UBS Programs [Member] | UBS Programs [Member] | UBS Programs [Member] | UBS Programs [Member] | UBS Programs [Member] | UBS Programs [Member] | Other Institutional Programs [Member] | Other Institutional Programs [Member] | Other Institutional Programs [Member] | Other Institutional Programs [Member] | Other Institutional Programs [Member] | Other Institutional Programs [Member] | Other Institutional Programs [Member] | BIG Shopping Centers [Member] | BIG Shopping Centers [Member] | BIG Shopping Centers [Member] | BIG Shopping Centers [Member] | Kimstone [Member] | Kimstone [Member] | Kimstone [Member] | RioCan [Member] | RioCan [Member] | RioCan [Member] | RioCan [Member] | KimPru II [Member] | KimPru II [Member] | KUBS [Member] | KUBS [Member] | KUBS [Member] | Canadian Hotel Portfolio [Member] | Canadian Hotel Portfolio [Member] | Sold [Member] | Parent Company [Member] | Blackstone [Member] | Mexico and Chile [Member] | Maximum [Member] | |||||||||||||||||||
Parent Company [Member] | USD ($) | Sold [Member] | Sold [Member] | Potential Foreclosure [Member] | Parent Company [Member] | Parent Company [Member] | Potential Foreclosure [Member] | USD ($) | USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | Sold [Member] | Sold [Member] | Sold [Member] | Pending Sale [Member] | Parent Company [Member] | MEXICO | MEXICO | Operating Properties [Member] | USD ($) | USD ($) | USD ($) | Sold [Member] | Parent Company [Member] | Parent Company [Member] | Operating Properties [Member] | USD ($) | Minimum [Member] | Maximum [Member] | Sold [Member] | Potential Foreclosure [Member] | Potential Foreclosure [Member] | Parent Company [Member] | Parent Company [Member] | Operating Properties [Member] | USD ($) | USD ($) | USD ($) | Encumbered [Member] | Encumbered [Member] | Parent Company [Member] | Operating Properties [Member] | Operating Properties [Member] | USD ($) | Foreclosed On [Member] | Foreclosed On [Member] | USD ($) | USD ($) | Minimum [Member] | Foreclosed On [Member] | Parent Company [Member] | Sold [Member] | USD ($) | CAD | Mexico and Chile [Member] | USD ($) | UBS Programs [Member] | Operating Properties [Member] | |||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Operating Properties [Member] | USD ($) | Operating Properties [Member] | USD ($) | Operating Properties [Member] | USD ($) | USD ($) | USD ($) | Parent Company [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Sold [Member] | Operating Properties [Member] | USD ($) | USD ($) | USD ($) | Parent Company [Member] | USD ($) | Operating Properties [Member] | USD ($) | Operating Properties [Member] | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | Operating Properties [Member] | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Number of Joint Ventures | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | 2 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Number of Accounts | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Sales of Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $735,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $603,500,000 | ' | $132,100,000 | $228,800,000 | $118,000,000 | ' | ' | ' | ' | ' | ' | $30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $75,500,000 | ' | ' | $127,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $341,900,000 | ' | ||||||||||||||||||
Transfer Mortgage Payable | ' | 17,083,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 609,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Deferred Gain on Sale of Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Guarantor Obligations, Current Carrying Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 139,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.15% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Number of Preferred Equity Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Number of Real Estate Properties | ' | ' | ' | ' | 60 | [1],[2],[3] | 61 | [1],[2],[3] | ' | 2,000,000 | ' | ' | ' | 2 | ' | ' | ' | ' | [4] | 138 | [4] | ' | ' | 6 | 2 | 1 | 1 | ' | 10 | 84 | ' | 75 | [5],[6],[7] | 87 | [5],[6],[7] | 12 | [1],[8] | 12 | [1],[8] | 1 | ' | ' | ' | 57 | [1],[10],[9] | 58 | [1],[10],[9] | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | 4 | 58 | [1],[11] | 56 | [1],[11] | ' | ' | 21 | [1],[12],[13] | 22 | [1],[12],[13] | 39 | [1],[14] | ' | ' | [1],[14] | 45 | 45 | ' | ' | 1 | ' | 2 | ' | [1],[13],[14],[15] | 40 | [1],[13],[14],[15] | ' | ' | 20 | ' | ' | ' | ' |
Gains (Losses) on Sales of Investment Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,100,000 | 30,900,000 | 8,300,000 | ' | ' | ' | 3,000,000 | ' | ' | 6,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,900,000 | ' | ||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.24% | ' | ' | ' | ' | ' | 3.57% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Payments to Acquire Equity Method Investments | ' | ' | ' | ' | 15,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,300,000 | ' | ' | ' | ' | ' | 48,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Payments to Acquire Real Estate | 354,287,000 | 442,541,000 | 268,282,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,700,000 | ' | ' | ' | ' | ' | ' | 14,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 21,711,000 | 15,555,000 | 569,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,400,000 | ' | 29,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | ' | ' | ' | ||||||||||||||||||
Impairment of Real Estate | 59,600,000 | ' | ' | 600,000 | 4,000,000 | ' | 6,500,000 | ' | 53,600,000 | 800,000 | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000 | 9,400,000 | ' | 1,500,000 | ' | 12,800,000 | ' | ' | ' | ' | 2,100,000 | 4,600,000 | ' | ' | ' | ' | ' | 800,000 | 5,000,000 | 2,200,000 | 1,900,000 | ' | ' | 13,000,000 | 9,700,000 | ' | ' | 800,000 | ' | ' | 6,500,000 | ' | 900,000 | 9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,300,000 | 1,000,000 | ' | ' | ' | 5,200,000 | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | 15.00% | [1],[2],[3] | 15.00% | [1],[2],[3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | [4] | ' | [4] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | [5],[6],[7] | ' | [5],[6],[7] | 39.50% | [1],[8] | 15.20% | [1],[8] | ' | ' | ' | ' | 48.60% | [1],[10],[9] | 45.00% | [1],[10],[9] | ' | ' | ' | ' | ' | ' | ' | ' | 33.30% | ' | ' | ' | ' | ' | ' | ' | ' | [1],[11] | ' | [1],[11] | ' | ' | 37.90% | [1],[12],[13] | 37.70% | [1],[12],[13] | 33.30% | [1],[14] | ' | ' | [1],[14] | 50.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | [1],[13],[14],[15] | 17.90% | [1],[13],[14],[15] | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.70% | ' | 100.00% | ||||||||||||||||||
Release of Liability of Debt From Sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 301,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Gain (Loss) on Sale of Properties, before Applicable Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 78,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Income Tax Expense (Benefit) | 34,520,000 | 16,922,000 | 25,789,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Real Estate Partnership Investment Subsidiaries, Net Income (Loss) before Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Real Estate Tax Expense | 117,563,000 | 110,747,000 | 104,451,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Equity Method Investment, Net Sales Proceeds (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | 2,500,000 | ' | ' | ' | ' | ' | ||||||||||||||||||
Equity Method Investment, Net Sales Proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | 2,500,000 | ' | ' | ' | ' | ' | ||||||||||||||||||
Percent of Income from Continuing Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Other Liabilities | 357,764,000 | 333,962,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,500,000 | 21,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Equity Method Investments | $1,257,010,000 | $1,428,155,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
[1] | The Company manages these joint venture investments and, where applicable, earns acquisition fees, leasing commissions, property management fees, asset management fees and construction management fees. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | This venture represents four separate joint ventures, with four separate accounts managed by Prudential Real Estate Investors ("PREI"), three of these ventures are collectively referred to as KimPru and the remaining venture is referred to as KimPru II. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | During the year ended December 31, 2013, the Company purchased the remaining interest in an operating property for a purchase price of $15.8 million. As a result of this transaction, KimPru recognized an impairment charge of $4.0 million, of which the Company's share was $0.6 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | The Company's share of this investment was subject to fluctuation and dependent upon property cash flows. During June 2013, the Intown portfolio was sold for a sales price of $735.0 million which included the assignment of $609.2 million in debt. This transaction resulted in a deferred gain to the Company of $21.7 million. The Company maintains its guarantee on a portion of the debt ($139.7 million as of December 31, 2013) assumed by the buyer. The guarantee is collateralized by the buyer's ownership interest in the portfolio. The Company is entitled to a guarantee fee, for the initial term of the loan, which is scheduled to mature in December 2015. The guarantee fee is calculated based upon the difference between LIBOR plus 1.15% and 5.0% per annum multiplied by the outstanding amount of the loan. Additionally, the Company has entered into a commitment to provide financing up to the outstanding amount of the guaranteed portion of the loan for five years past the date of maturity. This commitment can be in the form of extensions with the current lender, loans from a new lender or financing directly from the Company to the buyer. Due to this continued involvement, the Company deferred its gain until such time that the guarantee and commitment expire. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | During the year ended December 31, 2013, the Company amended one of its Canadian preferred equity investment agreements to restructure the investment as a pari passu joint venture in which the Company holds a noncontrolling interest. As a result of this transaction, the Company continues to account for its investment in this joint venture under the equity method of accounting and includes this investment in Investments and advances to real estate joint ventures within the Company's Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | During the year ended December 31, 2013, two joint ventures in which the Company held noncontrolling interests sold two operating properties to the Company, in separate transactions, for an aggregate sales price of $228.8 million. The Company evaluated these transactions pursuant to the FASB's Consolidation guidance. As such, the Company recognized an aggregate gain of $30.9 million, before income tax, from the fair value adjustment associated with its original ownership due to a change in control and now consolidates these operating properties. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | During the year ended December 31, 2013, joint ventures in which the Company has noncontrolling interests sold six operating properties, in separate transactions, for an aggregate sales price of $132.1 million. In connection with these transactions, the Company recognized its share of the aggregate gains of $6.1 million and aggregate impairment charges of $1.5 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | During the year ended December 31, 2013, the Company purchased an additional 24.24% interest in Kimco Income Fund for $38.3 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | During the year ended December 31, 2013, the Company purchased an additional 3.57% interest in KIR for $48.4 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | During the year ended December 31, 2013, KIR sold an operating property in Cincinnati, OH for a sales price of $30.0 million and recognized a gain of $6.1 million. The Company's share of this gain was $3.0 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | During the year ended December 31, 2013, a joint venture in which the Company held a noncontrolling interest sold an operating property to the Company for a sales price of $14.2 million. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. As such the Company recognized a gain of $0.5 million from the fair value adjustment associated with the Company's original ownership due to a change in control and now consolidates this operating property. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[12] | During the year ended December 31, 2013, BIG recognized a gain on early extinguishment of debt of $13.7 million related to a property that was foreclosed on by a third party lender. The Company's share of this gain was $2.4 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[13] | Ownership % is a blended rate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[14] | During June 2013, the Company increased its ownership interest in the UBS Programs to 33.3% and simultaneously UBS transferred its remaining 66.7% ownership interest in the UBS Programs to affiliates of Blackstone Real Estate Partners VII ("Blackstone"). Both of these transactions were based on a gross purchase price of $1.1 billion. Upon completion of these transactions, Blackstone and the Company entered into a new joint venture (Kimstone) in which the Company owns a 33.3% noncontrolling interest. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[15] | During the year ended December 31, 2013, UBS sold an operating property to the Company for a sales price of $32.7 million, which was equal to the remaining debt balance. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. As such the Company recognized no gain or loss from a change in control and now consolidates this operating property. |
Note_7_Investment_and_Advances3
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Investment Details (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2001 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||
KimPru and KimPru II [Member] | KimPru and KimPru II [Member] | KIR [Member] | KIR [Member] | KUBS [Member] | KUBS [Member] | Kimstone [Member] | Kimstone [Member] | BIG Shopping Centers [Member] | BIG Shopping Centers [Member] | CPP [Member] | CPP [Member] | Kimco Income Fund [Member] | Kimco Income Fund [Member] | SEB Immobilien [Member] | SEB Immobilien [Member] | Other Institutional Programs [Member] | Other Institutional Programs [Member] | RioCan [Member] | RioCan [Member] | RioCan [Member] | Intown [Member] | Intown [Member] | Latin America Portfolio [Member] | Latin America Portfolio [Member] | Other Joint Venture Programs [Member] | Other Joint Venture Programs [Member] | All Equity Method Investments [Member] | All Equity Method Investments [Member] | |||||||||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||
Average Ownership Interest | ' | ' | ' | ' | 15.00% | [1],[2],[3] | 15.00% | [1],[2],[3] | 48.60% | [1],[4],[5] | 45.00% | [1],[4],[5] | ' | [1],[6],[7],[8] | 17.90% | [1],[6],[7],[8] | 33.30% | [1],[7] | ' | [1],[7] | 37.90% | [1],[6],[9] | 37.70% | [1],[6],[9] | 55.00% | [1] | 55.00% | [1] | 39.50% | [1],[10] | 15.20% | [1],[10] | 15.00% | [1] | 15.00% | [1] | ' | [1],[11] | ' | [1],[11] | 50.00% | 50.00% | 50.00% | ' | [12] | ' | [12] | ' | [13],[14] | ' | [13],[14] | ' | [15],[16],[17] | ' | [15],[16],[17] | ' | ' | ||
Number of Properties | ' | ' | ' | ' | 60 | [1],[2],[3] | 61 | [1],[2],[3] | 57 | [1],[4],[5] | 58 | [1],[4],[5] | ' | [1],[6],[7],[8] | 40 | [1],[6],[7],[8] | 39 | [1],[7] | ' | [1],[7] | 21 | [1],[6],[9] | 22 | [1],[6],[9] | 6 | [1] | 6 | [1] | 12 | [1],[10] | 12 | [1],[10] | 13 | [1] | 13 | [1] | 56 | [1],[11] | 58 | [1],[11] | 45 | 45 | ' | ' | [12] | 138 | [12] | 28 | [13],[14] | 131 | [13],[14] | 75 | [15],[16],[17] | 87 | [15],[16],[17] | 412 | 671 | ||
Total GLA | 4,057 | [18] | 3,086 | [18] | ' | ' | 10,600,000 | [1],[2],[3] | 10,700,000 | [1],[2],[3] | 12,000,000 | [1],[4],[5] | 12,400,000 | [1],[4],[5] | ' | [1],[6],[7],[8] | 5,700,000 | [1],[6],[7],[8] | 5,600,000 | [1],[7] | ' | [1],[7] | 3,400,000 | [1],[6],[9] | 3,600,000 | [1],[6],[9] | 2,400,000 | [1] | 2,400,000 | [1] | 1,500,000 | [1],[10] | 1,500,000 | [1],[10] | 1,800,000 | [1] | 1,800,000 | [1] | 2,100,000 | [1],[11] | 2,600,000 | [1],[11] | 9,300,000 | 9,300,000 | ' | ' | [12] | ' | [12] | 3,700,000 | [13],[14] | 18,000,000 | [13],[14] | 11,500,000 | [15],[16],[17] | 13,200,000 | [15],[16],[17] | 63,900,000 | 81,200,000 |
Gross Investment In Real Estate (in Dollars) | $9,123,343,869 | $8,947,286,646 | $8,771,256,852 | $8,587,378,001 | $2,724,000,000 | [1],[2],[3] | $2,744,900,000 | [1],[2],[3] | $1,496,000,000 | [1],[4],[5] | $1,543,200,000 | [1],[4],[5] | ' | [1],[6],[7],[8] | $1,260,100,000 | [1],[6],[7],[8] | $1,095,300,000 | [1],[7] | ' | [1],[7] | $520,100,000 | [1],[6],[9] | $547,700,000 | [1],[6],[9] | $437,400,000 | [1] | $436,100,000 | [1] | $288,700,000 | [1],[10] | $287,000,000 | [1],[10] | $361,900,000 | [1] | $361,200,000 | [1] | $385,300,000 | [1],[11] | $499,200,000 | [1],[11] | $1,314,300,000 | $1,379,300,000 | ' | ' | [12] | $841,000,000 | [12] | $313,200,000 | [13],[14] | $1,198,100,000 | [13],[14] | $1,548,900,000 | [15],[16],[17] | $1,846,700,000 | [15],[16],[17] | $10,485,100,000 | $12,944,500,000 | ||
The Company's Investment (in Dollars) | ' | ' | ' | ' | $179,700,000 | [1],[2],[3] | $170,100,000 | [1],[2],[3] | $163,600,000 | [1],[4],[5] | $140,300,000 | [1],[4],[5] | $1,100,000 | [1],[6],[7],[8] | $58,400,000 | [1],[6],[7],[8] | $100,300,000 | [1],[7] | ' | [1],[7] | $29,500,000 | [1],[6],[9] | $31,300,000 | [1],[6],[9] | $144,800,000 | [1] | $149,500,000 | [1] | $50,600,000 | [1],[10] | $12,300,000 | [1],[10] | $900,000 | [1] | $1,500,000 | [1] | $16,800,000 | [1],[11] | $21,300,000 | [1],[11] | $156,300,000 | $111,000,000 | ' | ' | [12] | $86,900,000 | [12] | $156,700,000 | [13],[14] | $334,200,000 | [13],[14] | $256,700,000 | [15],[16],[17] | $311,400,000 | [15],[16],[17] | $1,257,000,000 | $1,428,200,000 | ||
[1] | The Company manages these joint venture investments and, where applicable, earns acquisition fees, leasing commissions, property management fees, asset management fees and construction management fees. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | This venture represents four separate joint ventures, with four separate accounts managed by Prudential Real Estate Investors ("PREI"), three of these ventures are collectively referred to as KimPru and the remaining venture is referred to as KimPru II. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | During the year ended December 31, 2013, the Company purchased the remaining interest in an operating property for a purchase price of $15.8 million. As a result of this transaction, KimPru recognized an impairment charge of $4.0 million, of which the Company's share was $0.6 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | During the year ended December 31, 2013, the Company purchased an additional 3.57% interest in KIR for $48.4 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | During the year ended December 31, 2013, KIR sold an operating property in Cincinnati, OH for a sales price of $30.0 million and recognized a gain of $6.1 million. The Company's share of this gain was $3.0 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Ownership % is a blended rate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | During June 2013, the Company increased its ownership interest in the UBS Programs to 33.3% and simultaneously UBS transferred its remaining 66.7% ownership interest in the UBS Programs to affiliates of Blackstone Real Estate Partners VII ("Blackstone"). Both of these transactions were based on a gross purchase price of $1.1 billion. Upon completion of these transactions, Blackstone and the Company entered into a new joint venture (Kimstone) in which the Company owns a 33.3% noncontrolling interest. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | During the year ended December 31, 2013, UBS sold an operating property to the Company for a sales price of $32.7 million, which was equal to the remaining debt balance. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. As such the Company recognized no gain or loss from a change in control and now consolidates this operating property. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | During the year ended December 31, 2013, BIG recognized a gain on early extinguishment of debt of $13.7 million related to a property that was foreclosed on by a third party lender. The Company's share of this gain was $2.4 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | During the year ended December 31, 2013, the Company purchased an additional 24.24% interest in Kimco Income Fund for $38.3 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | During the year ended December 31, 2013, a joint venture in which the Company held a noncontrolling interest sold an operating property to the Company for a sales price of $14.2 million. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. As such the Company recognized a gain of $0.5 million from the fair value adjustment associated with the Company's original ownership due to a change in control and now consolidates this operating property. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[12] | The Company's share of this investment was subject to fluctuation and dependent upon property cash flows. During June 2013, the Intown portfolio was sold for a sales price of $735.0 million which included the assignment of $609.2 million in debt. This transaction resulted in a deferred gain to the Company of $21.7 million. The Company maintains its guarantee on a portion of the debt ($139.7 million as of December 31, 2013) assumed by the buyer. The guarantee is collateralized by the buyer's ownership interest in the portfolio. The Company is entitled to a guarantee fee, for the initial term of the loan, which is scheduled to mature in December 2015. The guarantee fee is calculated based upon the difference between LIBOR plus 1.15% and 5.0% per annum multiplied by the outstanding amount of the loan. Additionally, the Company has entered into a commitment to provide financing up to the outstanding amount of the guaranteed portion of the loan for five years past the date of maturity. This commitment can be in the form of extensions with the current lender, loans from a new lender or financing directly from the Company to the buyer. Due to this continued involvement, the Company deferred its gain until such time that the guarantee and commitment expire. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[13] | During the year ended December 31, 2013, joint ventures in which the Company held noncontrolling interests sold 20 operating properties located throughout Mexico and Chile for $341.9 million. These transactions resulted in an aggregate net gain to the Company of $22.9 million, after tax, which represents the Company's share. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[14] | During the year ended December 31, 2013, the Company and its joint venture partner sold their noncontrolling ownership interest in a joint venture which held interests in 84 operating properties located throughout Mexico for $603.5 million (including debt of $301.2 million). The Company's share of the net gain of $78.2 million, before income taxes of $25.1 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[15] | During the year ended December 31, 2013, the Company amended one of its Canadian preferred equity investment agreements to restructure the investment as a pari passu joint venture in which the Company holds a noncontrolling interest. As a result of this transaction, the Company continues to account for its investment in this joint venture under the equity method of accounting and includes this investment in Investments and advances to real estate joint ventures within the Company's Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[16] | During the year ended December 31, 2013, two joint ventures in which the Company held noncontrolling interests sold two operating properties to the Company, in separate transactions, for an aggregate sales price of $228.8 million. The Company evaluated these transactions pursuant to the FASB's Consolidation guidance. As such, the Company recognized an aggregate gain of $30.9 million, before income tax, from the fair value adjustment associated with its original ownership due to a change in control and now consolidates these operating properties. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[17] | During the year ended December 31, 2013, joint ventures in which the Company has noncontrolling interests sold six operating properties, in separate transactions, for an aggregate sales price of $132.1 million. In connection with these transactions, the Company recognized its share of the aggregate gains of $6.1 million and aggregate impairment charges of $1.5 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[18] | Gross leasable area ("GLA") |
Note_7_Investment_and_Advances4
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - The Companybs Share of Net Income/(Loss) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | $208,689 | $112,896 | $63,467 | |||
KimPru and KimPru II [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 9,100 | [1],[2],[3],[4] | 7,400 | [1],[2],[3],[4] | -1,600 | [1],[2],[3],[4] |
KIR [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 25,300 | [5],[6] | 23,400 | [5],[6] | 17,300 | [5],[6] |
KUBS [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 1,800 | [7],[8] | 500 | [7],[8] | -800 | [7],[8] |
Kimstone [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 3,600 | [7] | ' | [7] | ' | [7] |
BIG Shopping Centers [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 3,000 | [10],[9] | -3,700 | [10],[9] | -2,900 | [10],[9] |
CPP [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 5,800 | 5,300 | 5,200 | |||
Kimco Income Fund [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 3,300 | 1,700 | 1,000 | |||
SEB Immobilien [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 1,100 | 700 | ' | |||
Other Institutional Programs [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 1,400 | [11],[12] | 5,000 | [11],[12] | 5,000 | [11],[12] |
RioCan [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 27,600 | [13] | 30,400 | [13] | 19,700 | [13] |
Intown [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 1,400 | 4,000 | -1,900 | |||
Latin America Portfolio [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 103,100 | [14],[15],[16] | 15,800 | [14],[15],[16] | 12,500 | [14],[15],[16] |
Other Joint Venture Programs [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | 22,200 | [17],[18],[19],[20] | 22,400 | [17],[18],[19],[20] | 10,000 | [17],[18],[19],[20] |
All Equity Method Investments [Member] | ' | ' | ' | |||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | |||
Equity in Income of Joint Ventures and Gains on Change in Control | $208,700 | $112,900 | $63,500 | |||
[1] | During the year ended December 31, 2013, the Company purchased the remaining interest in an operating property for a purchase price of $15.8 million. As a result of this transaction, KimPru recognized an impairment charge of $4.0 million, of which the Company's share was $0.6 million. | |||||
[2] | KimPru recognized impairment charges of $6.5 million related to the sale of two properties and $53.6 million related to the potential foreclosure of two properties during the years ended December 31, 2012 and 2011, respectively. The Company had previously taken other-than-temporary impairment charges on its investment in KimPru and had allocated these impairment charges to the underlying assets of the KimPru joint ventures including a portion to these operating properties. As such, the Company's share of these impairment charges for the years ended December 31, 2012 and 2011 were $0.8 million and $6.0 million, respectively. | |||||
[3] | During 2011, a third party mortgage lender foreclosed on an operating property for which KimPru had previously taken an impairment charge during 2010. As a result of the foreclosure during 2011, KimPru recognized an aggregate gain on early extinguishment of debt of $29.6 million. The Company's share of this gain was $4.4 million, before income taxes. | |||||
[4] | KimPru II recognized impairment charges of $7.3 million for the year ended December 31, 2011, related to the foreclosure of one operating property. The Company had previously taken other-than-temporary impairment charges on its investment in KimPru II and had allocated these impairment charges to the underlying assets of the KimPru II joint ventures including a portion to this operating property. As such, the Company's share of this impairment charge for the year ended December 31, 2011 was $1.0 million. | |||||
[5] | During the year ended December 31, 2013, KIR sold an operating property in Cincinnati, OH for a sales price of $30.0 million and recognized a gain of $6.1 million. The Company's share of this gain was $3.0 million. | |||||
[6] | KIR recognized an impairment charge of $4.6 million related to the sale of one operating property for the year ended December 31, 2011. The Company's share of this impairment charge was $2.1 million for the year ended December 31, 2011. | |||||
[7] | During June 2013, the Company increased its ownership interest in the UBS Programs to 33.3% and simultaneously UBS transferred its remaining 66.7% ownership interest in the UBS Programs to affiliates of Blackstone Real Estate Partners VII ("Blackstone"). Both of these transactions were based on a gross purchase price of $1.1 billion. Upon completion of these transactions, Blackstone and the Company entered into a new joint venture (Kimstone) in which the Company owns a 33.3% noncontrolling interest. | |||||
[8] | The UBS Program recognized impairment charges of $13.0 million related to the sale of two properties and $9.7 million related to the sale of one property, during the years ended December 31, 2012 and 2011, respectively. The Company's share of these impairment charges for the years ended December 31, 2012 and 2011 were $2.2 million and $1.9 million, respectively. Additionally, during the year ended December 31, 2011, the UBS Program recognized an impairment charge of $5.0 million relating to a property that was anticipated to be foreclosed on by the third party lender in 2012. The Company's share of this impairment charge was $0.8 million. A deed in lieu of foreclosure was given to the third party lender in 2012. | |||||
[9] | During the year ended December 31, 2013, BIG recognized a gain on early extinguishment of debt of $13.7 million related to a property that was foreclosed on by a third party lender. The Company's share of this gain was $2.4 million. | |||||
[10] | During the year ended December 31, 2012, BIG recognized an impairment charge of $9.0 million on a property that was foreclosed upon in 2013. The Company's share of this impairment charge was $0.9 million. | |||||
[11] | During the year ended December 31, 2012, a joint venture in which the Company holds a noncontrolling interest sold two encumbered operating properties to the Company for an aggregate sales price of $75.5 million. As a result of this transaction, the Company recognized promote income of $2.6 million. Additionally, another joint venture in which the Company holds a noncontrolling interest sold an operating property to the Company for a sales price of $127.0 million. As a result of this transaction, the Company recognized promote income of $1.1 million. | |||||
[12] | During the year ended December 31, 2012, two joint ventures in which the Company has a noncontrolling interest recognized aggregate impairment charges of $6.5 million related to the sale of four operating properties. The Company's share of these impairment charges was $0.8 million. | |||||
[13] | During the year ended December 31, 2012, the Company recognized income of $7.5 million, before taxes of $1.5 million, from the sale of certain air rights at one of the properties in the RioCan portfolio. | |||||
[14] | During the year ended December 31, 2013, joint ventures in which the Company held noncontrolling interests sold 20 operating properties located throughout Mexico and Chile for $341.9 million. These transactions resulted in an aggregate net gain to the Company of $22.9 million, after tax, which represents the Company's share. | |||||
[15] | During the year ended December 31, 2013, the Company and its joint venture partner sold their noncontrolling ownership interest in a joint venture which held interests in 84 operating properties located throughout Mexico for $603.5 million (including debt of $301.2 million). The Company's share of the net gain of $78.2 million, before income taxes of $25.1 million. | |||||
[16] | The Company is currently in advanced negotiations to sell 10 operating properties located throughout Mexico, which are held in unconsolidated joint ventures in which the Company holds noncontrolling interests. Based upon the allocation of the selling price, the Company has recorded its share of impairment charges of $9.4 million on six of these properties. | |||||
[17] | During the year ended December 31, 2013, joint ventures in which the Company has noncontrolling interests sold six operating properties, in separate transactions, for an aggregate sales price of $132.1 million. In connection with these transactions, the Company recognized its share of the aggregate gains of $6.1 million and aggregate impairment charges of $1.5 million. | |||||
[18] | During the year ended December 31, 2012, two joint ventures in which the Company holds noncontrolling interests sold two properties, in separate transactions, for an aggregate sales price of $118.0 million. The Company's share of the aggregate gain related to these transactions was $8.3 million. | |||||
[19] | During the year ended December 31, 2012, three joint ventures in which the Company has noncontrolling interests recognized aggregate impairment charges of $12.8 million related to the sale of one operating property, the pending sale of one property and the potential foreclosure of another property. The Company's share of these impairment charges was $6.4 million. | |||||
[20] | During the year ended December 31, 2011, the Company sold its interest in a Canadian hotel portfolio to its partner, for Canadian Dollars ("CAD") $2.5 million (USD $2.4 million). As a result, the Company recorded its share of an impairment charge of USD $5.2 million, before income taxes. |
Note_7_Investment_and_Advances5
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
KimPru and KimPru II [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | $923.40 | $1,010.20 | ||
Average Interest Rate | 5.53% | 5.54% | ||
Average Remaining Term | '35 months | [1] | '44 months 15 days | [1] |
KIR [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 889.1 | 914.6 | ||
Average Interest Rate | 5.05% | 5.22% | ||
Average Remaining Term | '75 months 3 days | [1] | '78 months 18 days | [1] |
KUBS [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | ' | 691.9 | ||
Average Interest Rate | ' | 5.40% | ||
Average Remaining Term | ' | '39 months 3 days | [1] | |
Kimstone [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 749.9 | ' | ||
Average Interest Rate | 4.62% | ' | ||
Average Remaining Term | '39 months 9 days | [1] | ' | |
BIG Shopping Centers [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 406.5 | 443.8 | ||
Average Interest Rate | 5.39% | 5.52% | ||
Average Remaining Term | '40 months 3 days | [1] | '45 months 15 days | [1] |
CPP [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 138.6 | 141.5 | ||
Average Interest Rate | 5.23% | 5.19% | ||
Average Remaining Term | '19 months | [1] | '31 months | [1] |
Kimco Income Fund [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 158 | 161.4 | ||
Average Interest Rate | 5.45% | 5.45% | ||
Average Remaining Term | '8 months 21 days | [1] | '20 months 21 days | [1] |
SEB Immobilien [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 243.8 | 243.8 | ||
Average Interest Rate | 5.11% | 5.11% | ||
Average Remaining Term | '43 months 9 days | [1] | '55 months 9 days | [1] |
RioCan [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 743.7 | 923.2 | ||
Average Interest Rate | 4.59% | 5.16% | ||
Average Remaining Term | '48 months | [1] | '41 months 6 days | [1] |
Intown [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | ' | 614.4 | ||
Average Interest Rate | ' | 4.46% | ||
Average Remaining Term | ' | '46 months 3 days | [1] | |
Other Institutional Programs [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 272.9 | 310.5 | ||
Average Interest Rate | 5.32% | 5.24% | ||
Average Remaining Term | '31 months | [1] | '39 months | [1] |
Other Joint Venture Programs [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | 1,063.10 | 1,612.20 | ||
Average Interest Rate | 5.53% | 5.70% | ||
Average Remaining Term | '60 months 18 days | [1] | '57 months 24 days | [1] |
All Equity Method Investments [Member] | ' | ' | ||
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Joint Venture Investments Accounted for under the Equity Method - Debt Details [Line Items] | ' | ' | ||
Mortgages and Notes Payable | $5,589 | $7,067.50 | ||
[1] | Average Remaining term includes extensions |
Note_7_Investment_and_Advances6
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Summarized Financial Information for KIR - Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | $6,991.90 | $9,031 |
Membersb capital | 2,914.50 | 3,593.80 |
6,991.90 | 9,031 | |
KIR [Member] | Real Estate, Net [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | 1,064.20 | 1,134.20 |
KIR [Member] | Other Assets [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | 81.9 | 87.7 |
KIR [Member] | Mortgage Payable [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Liabilities | 889.1 | 914.6 |
KIR [Member] | Other Liabilities [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Liabilities | 21.8 | 26.8 |
KIR [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | 1,146.10 | 1,221.90 |
Membersb capital | 235.2 | 280.5 |
$1,146.10 | $1,221.90 |
Note_7_Investment_and_Advances7
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Summarized Financial Information for KIR - Income Statements (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Revenues from rental property | $935,100,000 | $1,066,800,000 | $1,109,300,000 |
Operating expenses | -297,600,000 | -348,100,000 | -388,800,000 |
Interest expense | -253,600,000 | -306,900,000 | -329,400,000 |
Depreciation and amortization | -242,000,000 | -277,600,000 | -322,600,000 |
Impairment charges | -32,300,000 | -25,900,000 | -13,500,000 |
Other expense, net | -14,500,000 | -11,300,000 | 7,400,000 |
-840,000,000 | -969,800,000 | -1,046,900,000 | |
Income from continuing operations | 95,100,000 | 97,000,000 | 62,400,000 |
Income from discontinued operations | 12,100,000 | -4,000,000 | 30,600,000 |
Impairment on dispositions of properties | -5,000,000 | -21,100,000 | -75,700,000 |
Gain on dispositions of properties | 223,400,000 | 94,500,000 | -100,000 |
Net income | 325,600,000 | 166,400,000 | 17,200,000 |
KIR [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Revenues from rental property | 198,200,000 | 191,800,000 | 190,000,000 |
Operating expenses | -54,200,000 | -51,300,000 | -52,500,000 |
Interest expense | -47,800,000 | -54,000,000 | -58,800,000 |
Depreciation and amortization | -39,100,000 | -39,200,000 | -36,800,000 |
Impairment charges | ' | ' | -300,000 |
Other expense, net | -600,000 | -1,300,000 | -2,600,000 |
-141,700,000 | -145,800,000 | -151,000,000 | |
Income from continuing operations | 56,500,000 | 46,000,000 | 39,000,000 |
Income from discontinued operations | 1,500,000 | 2,300,000 | -100,000 |
Impairment on dispositions of properties | -9,800,000 | -100,000 | -4,800,000 |
Gain on dispositions of properties | 6,100,000 | ' | ' |
Net income | $54,300,000 | $48,200,000 | $34,100,000 |
Note_7_Investment_and_Advances8
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Summarized Financial Information for RioCan - Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | $6,991.90 | $9,031 |
Members' capital | 2,914.50 | 3,593.80 |
6,991.90 | 9,031 | |
RioCan [Member] | Real Estate, Net [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | 1,106.20 | 1,189.90 |
RioCan [Member] | Other Assets [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | 43.8 | 43.7 |
RioCan [Member] | Mortgage Payable [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Liabilities | 743.7 | 923.2 |
RioCan [Member] | Other Liabilities [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Liabilities | 13 | 18.1 |
RioCan [Member] | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' |
Assets | 1,150 | 1,233.60 |
Members' capital | 393.3 | 292.3 |
$1,150 | $1,233.60 |
Note_7_Investment_and_Advances9
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Summarized Financial Information for RioCan - Income Statements (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Revenues from rental properties | $935,100,000 | $1,066,800,000 | $1,109,300,000 |
Operating expenses | -297,600,000 | -348,100,000 | -388,800,000 |
Interest expense | -253,600,000 | -306,900,000 | -329,400,000 |
Depreciation and amortization | -242,000,000 | -277,600,000 | -322,600,000 |
Other (expense)/income, net | -14,500,000 | -11,300,000 | 7,400,000 |
-840,000,000 | -969,800,000 | -1,046,900,000 | |
Net income | 325,600,000 | 166,400,000 | 17,200,000 |
RioCan [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Revenues from rental properties | 209,900 | 213,300 | 209,200 |
Operating expenses | -76,900 | -78,100 | -73,000 |
Interest expense | -40,100 | -51,900 | -57,500 |
Depreciation and amortization | -36,000 | -37,300 | -36,800 |
Other (expense)/income, net | -1,800 | 14,700 | -200 |
-154,800 | -152,600 | -167,500 | |
Net income | $55,100 | $60,700 | $41,700 |
Recovered_Sheet1
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Investment and Advances to Real Estate Joint Ventures - Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets: | ' | ' |
Assets | $6,991.90 | $9,031 |
Liabilities and Partnersb/Membersb Capital: | ' | ' |
Noncontrolling interests | 19.2 | 19.1 |
Partnersb/Membersb capital | 2,914.50 | 3,593.80 |
6,991.90 | 9,031 | |
Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Assets | 6,601.80 | 8,523.30 |
Other Assets [Member] | ' | ' |
Assets: | ' | ' |
Assets | 390.1 | 507.7 |
Notes Payable [Member] | ' | ' |
Liabilities and Partnersb/Membersb Capital: | ' | ' |
Liabilities | ' | 148 |
Mortgage Payable [Member] | ' | ' |
Liabilities and Partnersb/Membersb Capital: | ' | ' |
Liabilities | 3,956.20 | 5,056.50 |
Construction Loans [Member] | ' | ' |
Liabilities and Partnersb/Membersb Capital: | ' | ' |
Liabilities | ' | 25.1 |
Other Liabilities [Member] | ' | ' |
Liabilities and Partnersb/Membersb Capital: | ' | ' |
Liabilities | $102 | $188.50 |
Recovered_Sheet2
Note 7 - Investment and Advances in Real Estate Joint Ventures (Details) - Investment and Advances to Real Estate Joint Ventures - Income Statements (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investment and Advances to Real Estate Joint Ventures - Income Statements [Abstract] | ' | ' | ' |
Revenues from rental property | $935.10 | $1,066.80 | $1,109.30 |
Operating expenses | -297.6 | -348.1 | -388.8 |
Interest expense | -253.6 | -306.9 | -329.4 |
Depreciation and amortization | -242 | -277.6 | -322.6 |
Impairment charges | -32.3 | -25.9 | -13.5 |
Other (expense)/income, net | -14.5 | -11.3 | 7.4 |
-840 | -969.8 | -1,046.90 | |
Income from continuing operations | 95.1 | 97 | 62.4 |
Discontinued Operations: | ' | ' | ' |
Income/(loss) from discontinued operations | 12.1 | -4 | 30.6 |
Impairment on dispositions of properties | -5 | -21.1 | -75.7 |
Gain/(loss) on dispositions of properties | 223.4 | 94.5 | -0.1 |
Net income | $325.60 | $166.40 | $17.20 |
Note_8_Other_Real_Estate_Inves2
Note 8 - Other Real Estate Investments (Details) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Share data in Millions, unless otherwise specified | Aug. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2002 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Seller Financing [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Albertsons Joint Venture [Member] | Albertsons Joint Venture [Member] | Supervalu Inc [Member] | Supervalu Inc [Member] | Supervalu Inc [Member] | Supervalu Inc [Member] | NAI Group Holdings Inc [Member] | Retail Store Leases [Member] | Retail Store Leases [Member] | Retail Store Leases [Member] | Leveraged Lease [Member] | Leveraged Lease [Member] | Leveraged Lease [Member] | Albertsons Joint Venture [Member] | Albertsons Joint Venture [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | Preferred Equity Investments [Member] | ||||||
Preferred Equity Investments [Member] | Amended [Member] | Amended [Member] | Leased Properties [Member] | Leased Properties [Member] | Leased Properties [Member] | Minimum [Member] | Maximum [Member] | Sold [Member] | Real Estate Acquired [Member] | Real Estate Acquired [Member] | Albertsons [Member] | Sold [Member] | |||||||||||||||||||||||
Albertsons [Member] | |||||||||||||||||||||||||||||||||||
Note 8 - Other Real Estate Investments (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investments | ' | $1,257,010,000 | $1,428,155,000 | ' | ' | ' | ' | ' | ' | ' | ' | $236,900,000 | $287,800,000 | $81,700,000 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,000,000 | $5,800,000 | ' | ' | ' | ' |
Number of Real Estate Properties | ' | ' | ' | ' | ' | ' | ' | ' | 392 | 397 | 403 | 483 | 504 | ' | ' | ' | ' | ' | ' | 414 | 456 | ' | ' | ' | ' | ' | ' | 19 | 11 | 30 | ' | ' | ' | ' | ' |
Income (Loss) from Equity Method Investments | ' | 208,689,000 | 112,896,000 | 63,467,000 | ' | ' | ' | ' | ' | ' | ' | 43,000,000 | 43,100,000 | ' | ' | ' | ' | 6,900,000 | ' | ' | ' | ' | ' | ' | 900,000 | 900,000 | 800,000 | ' | ' | ' | -16,500,000 | ' | 13,200,000 | 14,000,000 | 12,700,000 |
Equity Method Investment, Realized Gain (Loss) on Disposal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,800,000 | 17,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Capital Transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Agreements | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Promote Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage Loans on Real Estate | ' | 30,243,000 | 70,704,000 | 102,972,000 | 108,493,000 | 7,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Master Leased Pools | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | 1,035,354,000 | 1,003,190,000 | ' | ' | ' | ' | ' | ' | ' | ' | 336,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,900,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.08% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.47% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '9 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' | ' |
Payments to Acquire Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,800,000 | 14,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Other Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grocery Banners Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketable Securities Acquired, Shares (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Marketable Securities | ' | 33,588,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Capital Distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,300,000 | ' | ' | ' |
Operating Leases, Income Statement, Sublease Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | 3,900,000 | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Income Statement, Initial Direct Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | 3,000,000 | 4,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, Next Twelve Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Receivable, Current | ' | 704,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Two Years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Receivable, in Two Years | ' | 649,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Three Years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Receivable, in Three Years | ' | 570,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Four Years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Receivable, in Four Years | ' | 483,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Five Years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Receivable, in Five Years | ' | 390,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Minimum Sublease Rentals, Sale Leaseback Transactions, Thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Receivable, Thereafter | ' | 1,913,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Secured Debt | $150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $32,300,000 | ' | ' | ' | ' | ' | ' |
Note_8_Other_Real_Estate_Inves3
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Balance Sheet Disclosures (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Balance Sheet Disclosures [Line Items] | ' | ' |
Assets | $6,991.90 | $9,031 |
Partnersb/Membersb capital | 2,914.50 | 3,593.80 |
6,991.90 | 9,031 | |
Preferred Equity Investments [Member] | Real estate, net [Member] | ' | ' |
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Balance Sheet Disclosures [Line Items] | ' | ' |
Assets | 571.7 | 824.7 |
Preferred Equity Investments [Member] | Other Assets [Member] | ' | ' |
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Balance Sheet Disclosures [Line Items] | ' | ' |
Assets | 676.1 | 719.1 |
Preferred Equity Investments [Member] | Notes and Mortgage Payable [Member] | ' | ' |
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Balance Sheet Disclosures [Line Items] | ' | ' |
Liabilities | 878.1 | 1,116.90 |
Preferred Equity Investments [Member] | Other Liabilities [Member] | ' | ' |
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Balance Sheet Disclosures [Line Items] | ' | ' |
Liabilities | 26.1 | 51.8 |
Preferred Equity Investments [Member] | ' | ' |
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Balance Sheet Disclosures [Line Items] | ' | ' |
Assets | 1,247.80 | 1,543.80 |
Partnersb/Membersb capital | 343.6 | 375.1 |
$1,247.80 | $1,543.80 |
Note_8_Other_Real_Estate_Inves4
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Income Statement Disclosures (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||||
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Income Statement Disclosures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Revenues from rental property | $238,055,000 | [1] | $226,536,000 | [1] | $225,207,000 | [1] | $220,558,000 | [1] | $216,895,000 | [1] | $208,130,000 | [1] | $208,648,000 | [1] | $203,208,000 | [1] | $910,356,000 | $836,881,000 | $779,156,000 | |||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | -721,171,000 | -607,855,000 | -576,697,000 | |||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -213,911,000 | -225,710,000 | -221,678,000 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -247,537,000 | -236,923,000 | -218,260,000 | |||||||||||
Impairment charges (a) | ' | ' | ' | ' | ' | ' | ' | ' | -190,218,000 | -59,569,000 | -32,763,000 | |||||||||||
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -533,000 | -7,687,000 | -4,010,000 | |||||||||||
Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 225,502,000 | 266,548,000 | 237,780,000 | |||||||||||
Discontinued Operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 241,353,000 | 280,275,000 | 182,090,000 | |||||||||||
Preferred Equity Investments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Note 8 - Other Real Estate Investments (Details) - Preferred Equity Investments - Income Statement Disclosures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Revenues from rental property | ' | ' | ' | ' | ' | ' | ' | ' | 159,500,000 | 195,000,000 | 233,100,000 | |||||||||||
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | -34,800,000 | -44,700,000 | -57,000,000 | |||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -55,200,000 | -72,000,000 | -89,500,000 | |||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -24,000,000 | -33,700,000 | -43,600,000 | |||||||||||
Impairment charges (a) | ' | ' | ' | ' | ' | ' | ' | ' | ' | [2] | -2,700,000 | [2] | ' | [2] | ||||||||
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -7,100,000 | -8,300,000 | -6,300,000 | |||||||||||
Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 38,400,000 | 33,600,000 | 36,700,000 | |||||||||||
Discontinued Operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||
Gain on disposition of properties | ' | ' | ' | ' | ' | ' | ' | ' | 20,800,000 | 17,500,000 | 6,200,000 | |||||||||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $59,200,000 | $51,100,000 | $42,900,000 | |||||||||||
[1] | All periods have been adjusted to reflect the impact of operating properties sold during 2013 and 2012 and properties classified as held-for-sale as of December 31, 2013, which are reflected in the caption Discontinued operations on the accompanying Consolidated Statements of Income. | |||||||||||||||||||||
[2] | Represents an impairment charge against one master leased pool due to decline in fair market value. |
Note_8_Other_Real_Estate_Inves5
Note 8 - Other Real Estate Investments (Details) - Leveraged Lease Investment (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Leveraged Lease Investment [Abstract] | ' | ' |
Remaining net rentals | $15.90 | $24 |
Estimated unguaranteed residual value | 30.3 | 30.3 |
Non-recourse mortgage debt | -16.1 | -19 |
Unearned and deferred income | -19.9 | -27.6 |
Net investment in leveraged lease | $10.20 | $7.70 |
Note_9_Variable_Interest_Entit1
Note 9 - Variable Interest Entities (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Variable Interest Entity, Primary Beneficiary [Member] | Ground Up Developments [Member] | ' |
Note 9 - Variable Interest Entities (Details) [Line Items] | ' |
Number of Consolidated Entities | 2 |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | $88.30 |
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities | 0.1 |
Variable Interest Entity, Financial or Other Support, Amount | 33.7 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Ground Up Developments [Member] | ' |
Note 9 - Variable Interest Entities (Details) [Line Items] | ' |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net | 18.2 |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 19.6 |
Variable Interest Entity, Financial or Other Support, Future Funding | 1.4 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Preferred Equity Investments [Member] | ' |
Note 9 - Variable Interest Entities (Details) [Line Items] | ' |
Number of Consolidated Entities | 1 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Redevelopment [Member] | ' |
Note 9 - Variable Interest Entities (Details) [Line Items] | ' |
Variable Interest Entity, Financial or Other Support, Amount | -11.1 |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $11.10 |
Note_10_Mortgages_and_Other_Fi2
Note 10 - Mortgages and Other Financing Receivables (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Note 10 - Mortgages and Other Financing Receivables (Details) [Line Items] | ' | ' | ' | ' |
Mortgage Loans on Real Estate, Number of Loans | 16 | ' | ' | ' |
Mortgage Loans on Real Estate (in Dollars) | $30,243 | $70,704 | $102,972 | $108,493 |
Foreclosed On [Member] | ' | ' | ' | ' |
Note 10 - Mortgages and Other Financing Receivables (Details) [Line Items] | ' | ' | ' | ' |
Mortgage Loans on Real Estate, Number of Loans | 2 | ' | ' | ' |
Mortgage Loans on Real Estate (in Dollars) | $25,600 | ' | ' | ' |
Area of Real Estate Property (in Acres) | 59.24 | ' | ' | ' |
In Default [Member] | ' | ' | ' | ' |
Note 10 - Mortgages and Other Financing Receivables (Details) [Line Items] | ' | ' | ' | ' |
Area of Real Estate Property (in Acres) | 427 | ' | ' | ' |
Note_10_Mortgages_and_Other_Fi3
Note 10 - Mortgages and Other Financing Receivables (Details) - Mortgage Loans and Other Financing Receivables (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Balance at January 1 | $70,704 | $102,972 | $108,493 |
Additions: | ' | ' | ' |
New mortgage loans | 8,527 | 29,496 | 14,297 |
Deductions: | ' | ' | ' |
Balance at December 31 | 30,243 | 70,704 | 102,972 |
Additions Under Existing Mortgage Loans [Member] | ' | ' | ' |
Additions: | ' | ' | ' |
Other additions | 7,810 | 895 | ' |
Foreign Currency Translation [Member] | ' | ' | ' |
Additions: | ' | ' | ' |
Other additions | ' | 1,181 | ' |
Amortization of Loan Discounts [Member] | ' | ' | ' |
Additions: | ' | ' | ' |
Other additions | 653 | 247 | 247 |
Loan Repayments [Member] | ' | ' | ' |
Deductions: | ' | ' | ' |
Loan repayments | -53,640 | -60,740 | -15,803 |
Charge Off/Foreign Currency Translation [Member] | ' | ' | ' |
Deductions: | ' | ' | ' |
Other deductions | -1,260 | -430 | -863 |
Collections of Principal [Member] | ' | ' | ' |
Deductions: | ' | ' | ' |
Loan repayments | -2,529 | -2,861 | -3,345 |
Amortization of Loan Costs [Member] | ' | ' | ' |
Deductions: | ' | ' | ' |
Other deductions | ($22) | ($56) | ($54) |
Note_11_Marketable_Securities_1
Note 11 - Marketable Securities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 11 - Marketable Securities (Details) [Line Items] | ' | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | $26,406,000 | $156,000 | $188,003,000 |
Available-for-sale Securities, Gross Realized Gains | 12,100,000 | 0 | 800,000 |
Foreign Currency Transaction Gain (Loss), Realized | 0 | 0 | 1,600,000 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 | 300,000 |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 2,200,000 | ' | ' |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 800,000 | ' | ' |
Certain Marketable Securities [Member] | ' | ' | ' |
Note 11 - Marketable Securities (Details) [Line Items] | ' | ' | ' |
Proceeds from Sale and Maturity of Marketable Securities | $26,400,000 | $200,000 | $188,000,000 |
Additional [Member] | Minimum [Member] | ' | ' | ' |
Note 11 - Marketable Securities (Details) [Line Items] | ' | ' | ' |
Number of Years | 1 | ' | ' |
Additional [Member] | Maximum [Member] | ' | ' | ' |
Note 11 - Marketable Securities (Details) [Line Items] | ' | ' | ' |
Number of Years | 5 | ' | ' |
Additional 1 [Member] | Minimum [Member] | ' | ' | ' |
Note 11 - Marketable Securities (Details) [Line Items] | ' | ' | ' |
Number of Years | 5 | ' | ' |
Additional 1 [Member] | Maximum [Member] | ' | ' | ' |
Note 11 - Marketable Securities (Details) [Line Items] | ' | ' | ' |
Number of Years | 10 | ' | ' |
Note_11_Marketable_Securities_2
Note 11 - Marketable Securities (Details) - Marketable Securities (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Note 11 - Marketable Securities (Details) - Marketable Securities [Line Items] | ' | ' |
Equity securities | $25,995 | $19,223 |
Equity securities | 59,723 | 33,428 |
Other debt securities | 59 | 284 |
Other debt securities | 3,102 | 3,397 |
Total marketable securities | 62,766 | 36,541 |
Total marketable securities | 26,054 | 19,507 |
Total marketable securities | 62,825 | 36,825 |
Amortized Cost [Member] | ' | ' |
Note 11 - Marketable Securities (Details) - Marketable Securities [Line Items] | ' | ' |
Equity securities | 33,728 | 14,205 |
Other debt securities | 3,043 | 3,113 |
Total marketable securities | $36,771 | $17,318 |
Note_12_Notes_Payable_Details
Note 12 - Notes Payable (Details) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2007 | Jul. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-13 | Apr. 30, 2007 | Dec. 31, 2013 | Jul. 31, 2013 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | Canada, Dollars | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | TIIE [Member] | Line of Credit [Member] | Line of Credit [Member] | Notes Payable, Other Payables [Member] | Mexican Term Loan [Member] | Mexican Term Loan [Member] | Mexican Term Loan [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Series 4 Unsecured Debt [Member] | Letter of Credit [Member] | |
Unsecured Debt [Member] | Line of Credit [Member] | Line of Credit [Member] | Notes Payable, Other Payables [Member] | Unsecured Debt [Member] | Mexican Term Loan [Member] | MXN | USD ($) | MXN | USD ($) | USD ($) | USD ($) | CAD | USD ($) | ||||||||
CAD | |||||||||||||||||||||
Note 12 - Notes Payable (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | 1.05% | 1.05% | 3.50% | 1.05% | 1.35% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.22% | 1.26% | 5.50% | ' | 5.15% | 5.15% | ' | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.37% | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $694,700,000 | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 544,500,000 | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 290,900,000 | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 517,700,000 | ' | ' |
Long-term Debt, Maturities, Repayments of Principal after Year Five | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 838,200,000 | ' | ' |
Proceeds from Issuance of Senior Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 344,700,000 | 300,000,000 | ' | ' | ' |
Debt Covenants, Dividend Payment Restriction, Maximum Payment | ' | ' | ' | 26,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' | ' | 200,000,000 | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | '10 years | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | 5.18% | ' | ' | ' | ' | ' | ' | ' | ' | 8.58% | ' | ' | 3.13% | ' | ' | 3.86% | ' |
Debt Issuance Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' |
Repayments of Senior Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' |
Debt Instrument, Face Amount (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' | ' | 200,000,000 | ' |
Repayments of Medium-term Notes (in Dollars) | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 1,750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Additional Options, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Commitment Fee Percentage | 0.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Competitive Bid Option | 875,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Sub Limit | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | 194,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,300,000 |
Unsecured Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 76,500,000 | 1,000,000,000 | ' | ' | 400,000,000 | ' | ' |
Debt Instrument, Basis Spread on Variable Rate (in Basis Points) | ' | ' | ' | ' | ' | 1.05% | 1.05% | 3.50% | 1.05% | 1.35% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Additional One-Year Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Option Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' |
Proceeds from Issuance of Medium-term Notes (in Pesos) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' |
Repayments of Unsecured Debt (in Pesos) | 546,717,000 | 215,900,000 | 92,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' |
Unsecured Debt (in Pesos) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $76,500,000 | 1,000,000,000 | ' | ' | $400,000,000 | ' | ' |
Note_12_Notes_Payable_Details_
Note 12 - Notes Payable (Details) - Notes Payable (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | $3,186,047 | $3,192,127 | ||
Senior Notes [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | 1,140,900 | 965,900 | ||
Interest Rate Range (Low) | 3.13% | 4.70% | ||
Interest Rate Range (High) | 6.88% | 6.88% | ||
Medium-term Notes [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | 1,044,600 | 1,144,600 | ||
Interest Rate Range (Low) | 4.30% | 4.30% | ||
Interest Rate Range (High) | 5.78% | 5.78% | ||
Unsecured Debt [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | 400,000 | [1] | 400,000 | |
Interest Rate Range (Low) | ' | [1],[2] | ' | [2] |
Interest Rate Range (High) | ' | [1],[2] | ' | [2] |
Canadian Notes Payable [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | 329,500 | 352,400 | ||
Interest Rate Range (Low) | 3.86% | 5.18% | ||
Interest Rate Range (High) | 5.99% | 5.99% | ||
Line of Credit [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | 194,500 | 249,900 | ||
Interest Rate Range (Low) | ' | [2] | ' | [2] |
Interest Rate Range (High) | ' | [2] | ' | [2] |
Mexican Term Loan [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | 76,500 | [3] | 76,900 | |
Interest Rate Range (Low) | ' | [3] | 8.58% | |
Interest Rate Range (High) | ' | [3] | 8.58% | |
Notes Payable, Other Payables [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Balance (in Dollars) | ' | $2,400 | [4] | |
Interest Rate Range (Low) | ' | ' | [4] | |
Interest Rate Range (High) | ' | ' | [4] | |
[1] | During January 2014, the Company exercised its one-year extension option to extend the maturity date to April 17, 2015. | |||
[2] | Interest rate is equal to LIBOR + 1.05% (1.22% and 1.26% at December 31, 2013 and 2012, respectively). | |||
[3] | Interest rate is equal to TIIE (Equilibrium Interbank Interest Rate) plus 1.35% (5.15% at December 31, 2013). | |||
[4] | Interest rate is equal to LIBOR + 3.50% (5.50% at December 31, 2012). |
Note_12_Notes_Payable_Details_1
Note 12 - Notes Payable (Details) - Medium Term Note Repayments (USD $) | 1 Months Ended | ||||
In Millions, unless otherwise specified | Oct. 31, 2013 | Jun. 30, 2013 | Jan. 31, 2013 | Nov. 30, 2012 | Jul. 31, 2012 |
Medium-term Note 1 [Member] | Senior Note 1 [Member] | Senior Note 2 [Member] | Senior Note 3 [Member] | Medium-term Note 2 [Member] | |
Note 12 - Notes Payable (Details) - Medium Term Note Repayments [Line Items] | ' | ' | ' | ' | ' |
Repaid Amount (in Dollars) | $100 | $75 | $100 | $198.90 | $17 |
Interest Rate | 5.19% | 4.70% | 6.13% | 6.00% | 5.98% |
Note_13_Mortgages_Payable_Deta
Note 13 - Mortgages Payable (Details) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Aug. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Acquisitions [Member] | Acquisitions [Member] | Transfers [Member] | Transfers [Member] | Repayment of Debt [Member] | Repayment of Debt [Member] | Mortgages [Member] | Mortgages [Member] | |||
Mortgages [Member] | Mortgages [Member] | Mortgages [Member] | Mortgages [Member] | Mortgages [Member] | ||||||
Note 13 - Mortgages Payable (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | $284.90 | $185.30 |
Number of Real Estate Properties | ' | ' | 9 | 7 | ' | ' | 14 | 19 | ' | ' |
Unamortized Fair Value Adjustments During Period | ' | ' | ' | ' | ' | ' | ' | ' | 5.8 | 6.1 |
Repayments of Secured Debt | 150 | ' | ' | ' | ' | ' | ' | ' | 256.3 | 284.8 |
Mortgage Loans on Real Estate, Period Increase (Decrease) | ' | ' | ' | ' | ' | ' | ' | ' | 36 | ' |
Mortgage Loans on Real Estate, Number of Loans | ' | 16 | ' | ' | ' | 5 | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Amount of Consideration Received | ' | ' | ' | ' | 17.1 | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | 0.14% | ' |
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | 9.75% | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | 5.88% | ' |
Unamortized FairValue Debt Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | 10.7 | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | ' | ' | ' | ' | ' | ' | ' | ' | 143.5 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | ' | ' | ' | ' | ' | ' | ' | ' | 176.2 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | ' | ' | ' | ' | ' | ' | ' | ' | 291.2 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | ' | ' | ' | ' | ' | ' | ' | ' | 178 | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | ' | ' | ' | ' | ' | ' | ' | ' | 54.9 | ' |
Long-term Debt, Maturities, Repayments of Principal after Year Five | ' | ' | ' | ' | ' | ' | ' | ' | $180.90 | ' |
Note_14_Noncontrolling_Interes2
Note 14 - Noncontrolling Interests (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2007 | |||
Fair Market Value Adjustments [Member] | Fair Market Value Adjustments [Member] | Fair Market Value Adjustments [Member] | Shopping Centers [Member] | Non-convertible Units [Member] | Convertible Units [Member] | Convertible Units [Member] | Premiums [Member] | Redeemable Units [Member] | Redeemable Units [Member] | Remaining [Member] | Remaining [Member] | Discount [Member] | PUERTO RICO | Bay Shore and Centereach, New York [Member] | Capital Unit, Class A [Member] | Capital Unit, Class B [Member] | Capital Unit, Class B [Member] | ||||||
Convertible Units [Member] | PUERTO RICO | Bay Shore and Centereach, New York [Member] | PUERTO RICO | PUERTO RICO | PUERTO RICO | Bay Shore and Centereach, New York [Member] | |||||||||||||||||
Note 14 - Noncontrolling Interests (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of Real Estate Properties | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | $1,026,000 | ' | $1,045,000 | ' | $15,100,000 | ' | ' | $158,600,000 | $45,800,000 | $5,300,000 | $13,500,000 | ' | ' | ' | ' | $300,000 | $233,000,000 | $41,600,000 | ' | ' | ' | ||
Redeemable Noncontrolling Interest, Equity, Carrying Amount | 86,153,000 | 81,076,000 | 95,074,000 | ' | ' | ' | ' | ' | ' | ' | ' | 26,400,000 | 26,400,000 | 111,400,000 | 110,800,000 | ' | ' | ' | ' | ' | ' | ||
Unamortized FairValue Debt Adjustments | ' | ' | ' | 300,000 | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Noncontrolling Interest, Units Redeemed (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,963 | 30,000 | ' | ||
Noncontrolling Interest, Cumulative Par Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ||
Noncontrolling Interest, Units (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 138,015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of Years | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Redeemable Noncontrolling Interest Issuance, Units (in Shares) | 5,223 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Redeemable Noncontrolling Interest Issuance, Amount | $5,223,000 | [1] | ' | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable Noncontrolling Interest Issuance, Annual Yield | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | During the year ended December 31, 2013, the Company issued 5,223 units at $5.2 million of redeemable units, which are redeemable at the option of the holder after one year and earn a yield of 6% per annum |
Note_14_Noncontrolling_Interes3
Note 14 - Noncontrolling Interests (Details) - Convertible Non-convertible Units (USD $) | 12 Months Ended | |
Dec. 31, 2013 | ||
Preferred A Units [Member] | ' | |
Note 14 - Noncontrolling Interests (Details) - Convertible Non-convertible Units [Line Items] | ' | |
Number of Units Issued (in Shares) | 81,800,000 | [1] |
Par Value Per Unit (in Dollars per share) | $1 | [1] |
Return Per Annum | 7.00% | [1] |
Class A Preferred Units [Member] | ' | |
Note 14 - Noncontrolling Interests (Details) - Convertible Non-convertible Units [Line Items] | ' | |
Number of Units Issued (in Shares) | 2,000 | [1] |
Par Value Per Unit (in Dollars per share) | $10,000 | [1] |
2.00% | ||
Class B-1 Preferred Units [Member] | ' | |
Note 14 - Noncontrolling Interests (Details) - Convertible Non-convertible Units [Line Items] | ' | |
Number of Units Issued (in Shares) | 2,627 | [2] |
Par Value Per Unit (in Dollars per share) | $10,000 | [2] |
Return Per Annum | 7.00% | [2] |
Class B-2 Preferred Units [Member] | ' | |
Note 14 - Noncontrolling Interests (Details) - Convertible Non-convertible Units [Line Items] | ' | |
Number of Units Issued (in Shares) | 5,673 | [1] |
Par Value Per Unit (in Dollars per share) | $10,000 | [1] |
Return Per Annum | 7.00% | [1] |
Class C DownReit Units [Member] | ' | |
Note 14 - Noncontrolling Interests (Details) - Convertible Non-convertible Units [Line Items] | ' | |
Number of Units Issued (in Shares) | 640,001 | [2] |
Par Value Per Unit (in Dollars per share) | $30.52 | [2] |
[1] | These units are redeemable for cash by the holder or callable by the Company and are included in Redeemable noncontrolling interests on the Company's Consolidated Balance Sheets. | |
[2] | These units are redeemable for cash by the holder or at the Company's option, shares of the Company's common stock, based upon the conversion calculation as defined in the agreement. These units are included in Noncontrolling interests on the Company's Consolidated Balance Sheets. |
Note_14_Noncontrolling_Interes4
Note 14 - Noncontrolling Interests (Details) - Redeemed Units (USD $) | 12 Months Ended |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 |
Preferred A Units [Member] | ' |
Note 14 - Noncontrolling Interests (Details) - Redeemed Units [Line Items] | ' |
Units Redeemed | 2,200,000 |
Par Value Redeemed (in Dollars) | $2.20 |
Class A Preferred Units [Member] | ' |
Note 14 - Noncontrolling Interests (Details) - Redeemed Units [Line Items] | ' |
Units Redeemed | 2,000 |
Par Value Redeemed (in Dollars) | 20 |
Class B-1 Preferred Units [Member] | ' |
Note 14 - Noncontrolling Interests (Details) - Redeemed Units [Line Items] | ' |
Units Redeemed | 2,438 |
Par Value Redeemed (in Dollars) | 24.4 |
Class B-2 Preferred Units [Member] | ' |
Note 14 - Noncontrolling Interests (Details) - Redeemed Units [Line Items] | ' |
Units Redeemed | 5,576 |
Par Value Redeemed (in Dollars) | 55.8 |
Class C DownReit Units [Member] | ' |
Note 14 - Noncontrolling Interests (Details) - Redeemed Units [Line Items] | ' |
Units Redeemed | 61,804 |
Par Value Redeemed (in Dollars) | $1.90 |
Note_14_Noncontrolling_Interes5
Note 14 - Noncontrolling Interests (Details) - Redeemable Units (USD $) | 12 Months Ended | |
Dec. 31, 2013 | ||
Capital Unit, Class A [Member] | ' | |
Note 14 - Noncontrolling Interests (Details) - Redeemable Units [Line Items] | ' | |
Number of Units Issued (in Shares) | 13,963 | [1] |
Par Value Per Unit (in Dollars per share) | $1,000 | [1] |
Return Per Annum | 5.00% | [1] |
Capital Unit, Class B [Member] | ' | |
Note 14 - Noncontrolling Interests (Details) - Redeemable Units [Line Items] | ' | |
Number of Units Issued (in Shares) | 647,758 | [2] |
Par Value Per Unit (in Dollars per share) | $37.24 | [2] |
Return Per Annum | ' | [2] |
[1] | These units are redeemable for cash by the holder or callable by the Company any time after April 3, 2016 and are included in Redeemable noncontrolling interests on the Company's Consolidated Balance Sheets. | |
[2] | These units are redeemable for cash by the holder or at the Company's option, shares of the Company's common stock at a ratio of 1:1 and are callable by the Company any time after April 3, 2026. These units are included in Noncontrolling interests on the Company's Consolidated Balance Sheets. |
Note_14_Noncontrolling_Interes6
Note 14 - Noncontrolling Interests (Details) - Redemption Value of the Redeemable Noncontrolling Interests (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Redemption Value of the Redeemable Noncontrolling Interests [Abstract] | ' | ' | ' | ||
Balance at January 1, | $81,076 | $95,074 | ' | ||
Issuance of redeemable units (1) | 5,223 | [1] | ' | [1] | ' |
Unit redemptions | -6,892 | -13,998 | -6,370 | ||
Fair market value adjustment, net | -225 | ' | ' | ||
Other | 79 | ' | ' | ||
Balance at December 31, | $86,153 | $81,076 | $95,074 | ||
[1] | During the year ended December 31, 2013, the Company issued 5,223 units at $5.2 million of redeemable units, which are redeemable at the option of the holder after one year and earn a yield of 6% per annum |
Note_15_Fair_Value_Disclosure_2
Note 15 - Fair Value Disclosure of Financial Instruments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Marketable Securities | $62,766,000 | $36,541,000 | ' |
Asset Impairment Charges | 190,218,000 | 59,569,000 | 32,763,000 |
Impairment of Real Estate | 59,600,000 | ' | ' |
Fair Value Inputs, Cap Rate | 6.00% | ' | ' |
Fair Value Inputs, Discount Rate | 9.50% | ' | ' |
Cost-method Investments [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | 10,400,000 | ' | ' |
Other Joint Venture Programs [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Equity Method Investment, Other than Temporary Impairment | 1,000,000 | ' | ' |
Preferred Equity Capital [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Equity Method Investment, Other than Temporary Impairment | 3,200,000 | ' | ' |
Fair Value, Estimate Not Practicable, Carrying (Reported) Amount [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Impairment of Real Estate | 175,600,000 | ' | ' |
Discontinued Operations [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | 98,800,000 | ' | ' |
Impairment of Real Estate | 49,300,000 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Marketable Securities | 59,700,000 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Marketable Securities | 3,100,000 | ' | ' |
Minimum [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | 1,100,000 | ' |
Maximum [Member] | ' | ' | ' |
Note 15 - Fair Value Disclosure of Financial Instruments (Details) [Line Items] | ' | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | $42,000,000 | ' |
Note_15_Fair_Value_Disclosure_3
Note 15 - Fair Value Disclosure of Financial Instruments (Details) - Financial Instruments: Estimate of Fair Value Differs from Carrying Amounts (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financial Instruments: Estimate of Fair Value Differs from Carrying Amounts [Abstract] | ' | ' | ||
Marketable Securities (1) | $62,766 | $36,541 | ||
Marketable Securities (1) | 62,824 | [1] | 36,825 | [1] |
Notes Payable (2) | 3,186,047 | 3,192,127 | ||
Notes Payable (2) | 3,333,614 | [2] | 3,408,632 | [2] |
Mortgages Payable (3) | 1,035,354 | 1,003,190 | ||
Mortgages Payable (3) | $1,083,801 | [3] | $1,068,616 | [3] |
[1] | As of December 31, 2013, $59.7 million of these assets' estimated fair value were classified within Level 1 of the fair value hierarchy and the remaining $3.1 million were classified within Level 3 of the fair value hierarchy. | |||
[2] | The Company determined that its valuation of these Notes payable was classified within Level 2 of the fair value hierarchy. | |||
[3] | The Company determined that its valuation of these liabilities was classified within Level 3 of the fair value hierarchy. |
Note_15_Fair_Value_Disclosure_4
Note 15 - Fair Value Disclosure of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable equity securities | $59,723 | $33,428 |
Real estate | 217,529 | 52,505 |
Joint venture investments | 59,693 | ' |
Other real estate investments | 2,050 | ' |
Cost method investment | 4,670 | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Marketable equity securities | 59,723 | 33,428 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Real estate | 217,529 | 52,505 |
Joint venture investments | 59,693 | ' |
Other real estate investments | 2,050 | ' |
Cost method investment | $4,670 | ' |
Note_16_Preferred_Stock_Common2
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||
Oct. 10, 2012 | Aug. 31, 2012 | Aug. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Repayments of Secured Debt (in Dollars) | ' | ' | $150,000,000 | ' | ' | ' |
Preferred Stock Redemption Premium (in Dollars) | 15,500,000 | 6,200,000 | ' | ' | 21,703,000 | ' |
Stock Repurchased During Period, Shares (in Shares) | ' | ' | ' | 0 | 1,635,823 | 333,998 |
Stock Repurchased During Period, Value (in Dollars) | ' | ' | ' | ' | 30,947,000 | 6,003,000 |
Proceeds from Stock Options Exercised (in Dollars) | ' | ' | ' | ' | 22,600,000 | 4,900,000 |
Stockholders' Equity Attributable to Noncontrolling Interest (in Dollars) | ' | ' | ' | 137,109,000 | 167,320,000 | ' |
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares) | ' | ' | ' | 1,600,000 | ' | ' |
Series H Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Number of Votes | ' | ' | ' | 100 | ' | ' |
Number of Proxies | ' | ' | ' | 100 | ' | ' |
Number of Votes, Depositary | ' | ' | ' | 1 | ' | ' |
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | ' | ' | ' | $2,500 | ' | ' |
Series I, J or K Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Number of Votes | ' | ' | ' | 1,000 | ' | ' |
Number of Proxies | ' | ' | ' | 1,000 | ' | ' |
Number of Votes, Depositary | ' | ' | ' | 1 | ' | ' |
Series I Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | ' | ' | ' | $25,000 | ' | ' |
Series J Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | ' | ' | ' | $25,000 | ' | ' |
Series K Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | ' | ' | ' | $25,000 | ' | ' |
Depositary Share [Member] | ' | ' | ' | ' | ' | ' |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | ' | ' | ' | $25 | ' | ' |
Convertible Units [Member] | ' | ' | ' | ' | ' | ' |
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest (in Dollars) | ' | ' | ' | $33,200,000 | ' | ' |
Note_16_Preferred_Stock_Common3
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) - Outstanding Preferred Stock (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | Series H Preferred Stock [Member] | Series I Preferred Stock [Member] | Series J Preferred Stock [Member] | Series K Preferred Stock [Member] | Total [Member] | ||
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) - Outstanding Preferred Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Shares Authorized | 5,961,200 | 5,961,200 | 70,000 | 18,400 | 9,000 | 8,050 | 105,450 |
Shares Outstanding | ' | ' | 70,000 | 16,000 | 9,000 | 7,000 | 102,000 |
Liquidation Preference (in Dollars) | $975,000 | $975,000 | $175,000 | $400,000 | $225,000 | $175,000 | $975,000 |
Dividend Rate | ' | ' | 6.90% | 6.00% | 5.50% | 5.63% | ' |
Dividend Payout (in Dollars per share) | ' | ' | $1.73 | $1.50 | $1.38 | $1.41 | ' |
Par Value (in Dollars per share) | $1 | $1 | $1 | $1 | $1 | $1 | ' |
Note_16_Preferred_Stock_Common4
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) - Preferred Stock Issued (USD $) | 12 Months Ended | 1 Months Ended | |||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2011 | Aug. 30, 2010 | Mar. 31, 2012 | Jul. 31, 2012 | Dec. 31, 2012 | ||||
Series H Preferred Stock [Member] | Series I Preferred Stock [Member] | Series J Preferred Stock [Member] | Series K Preferred Stock [Member] | ||||||
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) - Preferred Stock Issued [Line Items] | ' | ' | ' | ' | ' | ||||
Depositary Shares Issued | ' | 7,000,000 | 16,000,000 | 9,000,000 | 7,000,000 | ||||
Net Proceeds (in Dollars) | $4,941 | $169,200 | [1] | $387,200 | [2] | $217,800 | [3] | $169,100 | [4] |
Offering/ Redemption Price (in Dollars per share) | ' | $25 | $25 | $25 | $25 | ||||
[1] | The net proceeds received from this offering were used to repay $150.0 million in mortgages payable and for general corporate purposes. | ||||||||
[2] | The net proceeds received from this offering were used for general corporate purposes, including the reduction of borrowings outstanding under the Company's revolving credit facility and the redemption of shares of the Company's preferred stock. | ||||||||
[3] | The net proceeds received from this offering were used for the redemption of all the outstanding depositary shares representing the Company's Class F preferred stock, which redemption occurred on August 15, 2012, as discussed below, with the remaining proceeds used towards the redemption of outstanding depositary shares representing the Company's Class G preferred stock, which redemption occurred on October 10, 2012, as discussed below, and general corporate purposes. | ||||||||
[4] | The net proceeds received from this offering were used for general corporate purposes, including funding towards the repayment of maturing Senior Unsecured Notes. |
Note_16_Preferred_Stock_Common5
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) - Preferred Stock Redeemed (USD $) | 1 Months Ended | |||
Jun. 30, 2003 | Oct. 31, 2007 | |||
Series F Preferred Stock [Member] | Series G Preferred Stock [Member] | |||
Note 16 - Preferred Stock, Common Stock and Convertible Unit Transactions (Details) - Preferred Stock Redeemed [Line Items] | ' | ' | ||
Depositary Shares Issued | 7,000,000 | [1] | 18,400,000 | [2] |
Offering/ Redemption Price (in Dollars per share) | $25 | $25 | ||
[1] | In connection with this redemption the Company recorded a non-cash charge of $6.2 million resulting from the difference between the redemption amount and the carrying amount of the Class F Preferred Stock on the Company's Consolidated Balance Sheets in accordance with the FASB's guidance on Distinguishing Liabilities from Equity. The $6.2 million was subtracted from net income to arrive at net income available to common shareholders and is used in the calculation of earnings per share for the year ended December 31, 2012. | |||
[2] | In connection with this redemption the Company recorded a non-cash charge of $15.5 million resulting from the difference between the redemption amount and the carrying amount of the Class G Preferred Stock on the Company's Consolidated Balance Sheets in accordance with the FASB's guidance on Distinguishing Liabilities from Equity. The $15.5 million was subtracted from net income to arrive at net income available to common shareholders and is used in the calculation of earnings per share for the year ended December 31, 2012. |
Note_17_Supplemental_Schedule_2
Note 17 - Supplemental Schedule of Non-Cash Investing/Financing Activities (Details) - Non-Cash Investing and Financing Activities (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 17 - Supplemental Schedule of Non-Cash Investing/Financing Activities (Details) - Non-Cash Investing and Financing Activities [Line Items] | ' | ' | ' |
Acquisition of real estate interests by assumption of mortgage debt | $76,477 | $179,198 | $117,912 |
Acquisition of real estate interests through foreclosure | 24,322 | ' | ' |
Acquisition of real estate interests by issuance of redeemable units | 3,985 | ' | ' |
Acquisition of real estate interests through proceeds held in escrow | 42,892 | ' | ' |
Disposition of real estate interest by assignment of mortgage debt | ' | 17,083 | ' |
Disposition of real estate through the issuance of unsecured obligation | 3,513 | 13,475 | 14,297 |
Issuance of common stock | 9,213 | 18,115 | 4,941 |
Declaration of dividends paid in succeeding period | 104,496 | 96,518 | 92,159 |
Consolidation of Joint Ventures: | ' | ' | ' |
Increase in real estate and other assets | 228,200 | ' | ' |
Increase in mortgage payable | 206,489 | ' | ' |
Non-cash [Member] | ' | ' | ' |
Note 17 - Supplemental Schedule of Non-Cash Investing/Financing Activities (Details) - Non-Cash Investing and Financing Activities [Line Items] | ' | ' | ' |
Surrender of common stock | ($3,891) | ($2,073) | ($596) |
Note_18_Transactions_with_Rela1
Note 18 - Transactions with Related Parties (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 18 - Transactions with Related Parties (Details) [Line Items] | ' | ' | ' |
Secured Debt | $1,035,354,000 | $1,003,190,000 | ' |
Ripco [Member] | Operating Properties [Member] | ' | ' | ' |
Note 18 - Transactions with Related Parties (Details) [Line Items] | ' | ' | ' |
Number of Real Estate Properties | 1 | ' | ' |
Property, Plant and Equipment, Disposals | 3,500,000 | ' | ' |
Secured Debt | 2,800,000 | ' | ' |
Ripco [Member] | ' | ' | ' |
Note 18 - Transactions with Related Parties (Details) [Line Items] | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 50.00% | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | 50.00% | ' | ' |
Related Party Transaction, Amounts of Transaction | $600,000 | $800,000 | $500,000 |
Note_19_Commitments_and_Contin2
Note 19 - Commitments and Contingencies (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | ||
InTown Suites Management, Inc. [Member] | InTown Suites Management, Inc. [Member] | Product Concentration Risk [Member] | Product Concentration Risk [Member] | Product Concentration Risk [Member] | Minimum [Member] | Maximum [Member] | |||||
Rental Revenue [Member] | Rental Revenue [Member] | Rental Revenue [Member] | |||||||||
Note 19 - Commitments and Contingencies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Lessor Leasing Arrangements, Operating Leases, Term of Contract | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '25 years | |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | 97.00% | 97.00% | 97.00% | ' | ' | |
Operating Leases, Future Minimum Payments Receivable, Current | $704,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments Receivable, in Two Years | 649,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments Receivable, in Three Years | 570,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments Receivable, in Four Years | 483,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments Receivable, in Five Years | 390,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments Receivable, Thereafter | 1,913,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Straight Line Rent | 4,800,000 | 6,200,000 | 8,100,000 | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 12,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments, Due in Two Years | 11,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments, Due in Three Years | 10,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments, Due in Four Years | 9,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments, Due in Five Years | 8,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating Leases, Future Minimum Payments, Due Thereafter | 164,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Sales of Real Estate | ' | ' | ' | 735,000,000 | ' | ' | ' | ' | ' | ' | |
Transfer Mortgage Payable | ' | 17,083,000 | ' | 609,200,000 | ' | ' | ' | ' | ' | ' | |
Deferred Gain on Sale of Property | ' | ' | ' | 21,700,000 | ' | ' | ' | ' | ' | ' | |
Guarantor Obligations, Maximum Exposure, Undiscounted | 139,700,000 | ' | ' | ' | 139,700,000 | [1] | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | 31,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Performance and Surety Bonds | $21,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | During June 2013, the Company sold its unconsolidated investment in the InTown portfolio for a sales price of $735.0 million which included the assignment of $609.2 million in debt. This transaction resulted in a deferred gain to the Company of $21.7 million. The Company continues to maintain its guarantee of a portion of the debt assumed by the buyer ($139.7 million as of December 31, 2013). The guarantee is collateralized by the buyer's ownership interest in the portfolio. Additionally, the Company has entered into a commitment to provide financing up to the outstanding amount of the guaranteed portion of the loan for five years past the date of maturity. This commitment can be in the form of extensions with the current lender or a new lender or financing directly from the Company to the buyer. |
Note_19_Commitments_and_Contin3
Note 19 - Commitments and Contingencies (Details) - Guarantees (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | |
Guarantor Obligations [Line Items] | ' | |
Amount of Guarantee (in Dollars) | $139.70 | |
InTown Suites Management, Inc. [Member] | ' | |
Guarantor Obligations [Line Items] | ' | |
Amount of Guarantee (in Dollars) | 139.7 | [1] |
Interest rate - spread | 1.15% | [1] |
Victoriaville [Member] | ' | |
Guarantor Obligations [Line Items] | ' | |
Amount of Guarantee (in Dollars) | $2.30 | |
Interest rate | 3.92% | |
[1] | During June 2013, the Company sold its unconsolidated investment in the InTown portfolio for a sales price of $735.0 million which included the assignment of $609.2 million in debt. This transaction resulted in a deferred gain to the Company of $21.7 million. The Company continues to maintain its guarantee of a portion of the debt assumed by the buyer ($139.7 million as of December 31, 2013). The guarantee is collateralized by the buyer's ownership interest in the portfolio. Additionally, the Company has entered into a commitment to provide financing up to the outstanding amount of the guaranteed portion of the loan for five years past the date of maturity. This commitment can be in the form of extensions with the current lender or a new lender or financing directly from the Company to the buyer. |
Note_20_Incentive_Plans_Detail
Note 20 - Incentive Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 20 - Incentive Plans (Details) [Line Items] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share) | $11.54 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share) | $53.14 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '4 years 146 days | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '5 years 219 days | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 8,049,534 | 8,871,495 | 5,776,270 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in Shares) | 3,334,706 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $19.50 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $1,900,000 | ' | ' |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 30,200,000 | 22,600,000 | 6,500,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 7,600,000 | 7,000,000 | 1,500,000 |
Allocated Share-based Compensation Expense | 18,900,000 | 17,900,000 | 16,900,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 28,600,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '3 years 6 months | ' | ' |
Stock Repurchased During Period, Shares (in Shares) | 0 | 1,635,823 | 333,998 |
Stock Repurchased During Period, Value | ' | 30,947,000 | 6,003,000 |
Proceeds from Stock Options Exercised | ' | 22,600,000 | 4,900,000 |
Defined Contribution Plan, Maximum Match, Percent | 5.00% | ' | ' |
Defined Contribution Plan, Maximum Match, Amount | 250,000 | ' | ' |
Defined Contribution Plan, Cost Recognized | 2,100,000 | 2,100,000 | 1,900,000 |
Restricted Stock [Member] | ' | ' | ' |
Note 20 - Incentive Plans (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in Shares) | 1,591,082 | 1,562,912 | 832,726 |
Employee [Member] | ' | ' | ' |
Note 20 - Incentive Plans (Details) [Line Items] | ' | ' | ' |
Severance Costs | 4,300,000 | 5,800,000 | 1,700,000 |
Executive Officer [Member] | ' | ' | ' |
Note 20 - Incentive Plans (Details) [Line Items] | ' | ' | ' |
Severance Costs | ' | $2,500,000 | ' |
Note_20_Incentive_Plans_Detail1
Note 20 - Incentive Plans (Details) - Stock Options - Significant Fair Value Assumptions (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Options - Significant Fair Value Assumptions [Abstract] | ' | ' | ' |
Weighted average fair value of options granted (in Dollars per share) | $5.04 | $4.52 | $4.39 |
Weighted average risk-free interest rates | 1.46% | 1.04% | 2.02% |
Weighted average expected option lives (in years) | '6 years 3 months | '6 years 3 months | '6 years 3 months |
Weighted average expected volatility | 35.95% | 37.53% | 36.82% |
Weighted average expected dividend yield | 3.85% | 3.94% | 3.98% |
Note_20_Incentive_Plans_Detail2
Note 20 - Incentive Plans (Details) - Stock Options - Activity (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Options - Activity [Abstract] | ' | ' | ' |
Options Outstanding | 16,557,997 | 17,110,592 | 17,115,789 |
Options Outstanding (in Dollars per share) | $28.42 | $28.14 | $28.32 |
Options Outstanding (in Dollars) | $14.90 | $8 | $18 |
Options exercisable (fully vested)- | ' | ' | ' |
Balance | 12,039,439 | 12,830,255 | 12,459,598 |
Balance (in Dollars per share) | $31.24 | $31.57 | $30.77 |
Balance (in Dollars) | 8.2 | 7.7 | 3.9 |
Options Exercised | -1,636,300 | -1,495,432 | -444,368 |
Options Exercised, Weighted-Average Exercise Price Per Share (in Dollars per share) | $23.15 | $19.84 | $14.71 |
Options Granted | 1,354,250 | 1,522,450 | 1,888,017 |
Options Granted, Weighted-Average Exercise Price Per Share (in Dollars per share) | $21.55 | $18.78 | $18.77 |
Expired | ' | ' | -655,748 |
Expired (in Dollars per share) | ' | ' | $16.40 |
Options Forfeited | -901,802 | -579,613 | -793,098 |
Options Forfeited, Weighted-Average Exercise Price Per Share (in Dollars per share) | $31.38 | $28.73 | $23.74 |
Options Outstanding | 15,374,145 | 16,557,997 | 17,110,592 |
Options Outstanding (in Dollars per share) | $28.79 | $28.42 | $28.14 |
Options Outstanding (in Dollars) | $13.10 | $14.90 | $8 |
Note_21_Income_Taxes_Details
Note 21 - Income Taxes (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
Oct. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Required Dividend Payout | ' | 90.00% | ' | ' |
Dividends, Cash | ' | $400,354,000 | $382,722,000 | $353,764,000 |
Tax Withholdings and Transaction Taxes, Amount | ' | 100,000 | ' | ' |
Deferred Tax Assets, Net | ' | 91,242,000 | 90,225,000 | ' |
Deferred Tax Assets, Property, Plant and Equipment | ' | 28,800,000 | ' | ' |
Deferred Tax Liabilities, Property, Plant and Equipment | ' | 21,300,000 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | ' | 72,716,000 | 43,483,000 | ' |
Deferred Tax Assets, Other Loss Carryforwards | ' | 6,214,000 | 6,214,000 | ' |
Deferred Tax Assets, Tax Credit Carryforwards | ' | 3,773,000 | 3,815,000 | ' |
Deferred Tax Assets, Capital Loss Carryforwards | ' | 3,867,000 | 647,000 | ' |
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax | ' | 1,300,000 | ' | ' |
Taxable Income | ' | 262,643,000 | 242,792,000 | 263,309,000 |
Deferred Tax Assets, Net of Valuation Allowance | ' | 123,911,000 | 113,421,000 | ' |
Income Tax Examination, Potential Penalty, Percent | ' | 100.00% | ' | ' |
Income Tax Examination, Penalties Expense | 40,900,000 | ' | ' | ' |
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | ' | 12,315,000 | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Deferred Tax Assets, Net | ' | 900,000 | ' | ' |
Deferred Tax Assets, Valuation Allowance | ' | 38,700,000 | ' | ' |
Deferred Tax Liabilities, Net | ' | 11,400,000 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Deferred Tax Assets, Capital Loss Carryforwards | ' | 3,900,000 | ' | ' |
Chile [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Income Tax Withholding, Percentage | ' | 10.00% | ' | ' |
Peru [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Income Tax Withholding, Percentage | ' | 4.10% | ' | ' |
Brazil [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Foreign Transaction Tax, Tax Rate | ' | 0.38% | ' | ' |
Latin America [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | ' | 38,700,000 | ' | ' |
Deferred Tax Assets, Net of Valuation Allowance | ' | 43,700,000 | ' | ' |
Canada [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | ' | 12,300,000 | ' | ' |
REIT Eligibility [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Number of Years | ' | 4 | ' | ' |
Net [Member] | FNC Realty Corporation [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | ' | 17,500,000 | ' | ' |
Used [Member] | KRS [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Operating Loss Carryforwards | ' | ' | 9,500,000 | ' |
Cumulative Loss [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Number of Years | ' | 3 | ' | ' |
Cumulative Income [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Number of Years | ' | 3 | ' | ' |
Determination of Future Projected Income [Member] | KRS [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Number of Years | ' | 20 | ' | ' |
Statute of Limitations [Member] | Minimum [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Number of Years | ' | 3 | ' | ' |
Statute of Limitations [Member] | Maximum [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Number of Years | ' | 7 | ' | ' |
KRS [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | ' | 30,100,000 | ' | ' |
Deferred Tax Assets, Tax Credit Carryforwards, General Business | ' | 2,500,000 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | ' | 72,600,000 | ' | ' |
Taxable Income | ' | ' | 9,500,000 | ' |
Operating Loss Carryforwards | ' | ' | 22,100,000 | ' |
Deferred Tax Assets, Net of Valuation Allowance | ' | 71,700,000 | ' | ' |
FNC Realty Corporation [Member] | ' | ' | ' | ' |
Note 21 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | ' | 42,500,000 | ' | ' |
Deferred Tax Assets, Valuation Allowance | ' | 25,000,000 | ' | ' |
Deferred Tax Assets, Other Loss Carryforwards | ' | 6,200,000 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | ' | 106,300,000 | 101,300,000 | ' |
Valuation Allowance, Deferred Tax Asset, Change in Amount | ' | ($8,700,000) | ' | ' |
Note_21_Income_Taxes_Details_G
Note 21 - Income Taxes (Details) - GAAP Net Income/(Loss) to Taxable Income Reconciliation (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Note 21 - Income Taxes (Details) - GAAP Net Income/(Loss) to Taxable Income Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
GAAP net income | $61,609 | $55,763 | $51,139 | $67,770 | $88,382 | $54,941 | $69,112 | $53,638 | $236,281 | $266,073 | $169,051 | |||
Net book depreciation in excess of tax depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 31,678 | 37,492 | 30,603 | |||
Deferred/prepaid/above and below market rents, net | ' | ' | ' | ' | ' | ' | ' | ' | -11,731 | -16,050 | -16,463 | |||
Book/tax differences from non-qualified stock options | ' | ' | ' | ' | ' | ' | ' | ' | -255 | 1,774 | 9,879 | |||
Book/tax differences from investments in real estate joint ventures | ' | ' | ' | ' | ' | ' | ' | ' | 42,724 | 44,886 | 52,564 | |||
Book/tax difference on sale of property | ' | ' | ' | ' | ' | ' | ' | ' | -48,296 | -77,853 | 1,811 | |||
Foreign income tax from Mexico capital gains | ' | ' | ' | ' | ' | ' | ' | ' | -42,641 | ' | ' | |||
Book adjustment to property carrying values and marketable equity securities | ' | ' | ' | ' | ' | ' | ' | ' | 87,218 | 2,656 | 8,721 | |||
Taxable currency exchange (loss)/gain, net | ' | ' | ' | ' | ' | ' | ' | ' | -27,155 | -2,620 | 6,502 | |||
Book/tax differences on capitalized costs | ' | ' | ' | ' | ' | ' | ' | ' | 4,616 | -7,205 | 3,228 | |||
Dividends from taxable REIT subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 698 | 2,304 | 15,969 | |||
Other book/tax differences, net | ' | ' | ' | ' | ' | ' | ' | ' | 229 | -25 | 2,195 | |||
Adjusted REIT taxable income | ' | ' | ' | ' | ' | ' | ' | ' | 262,643 | 242,792 | 263,309 | |||
Less: GAAP net income of taxable REIT subsidiaries | -61,609 | -55,763 | -51,139 | -67,770 | -88,382 | -54,941 | -69,112 | -53,638 | -236,281 | -266,073 | -169,051 | |||
GAAP net loss/(income) of taxable REIT subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Note 21 - Income Taxes (Details) - GAAP Net Income/(Loss) to Taxable Income Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
GAAP net income | ' | ' | ' | ' | ' | ' | ' | ' | 5,950 | 5,249 | 19,572 | |||
Less: GAAP net income of taxable REIT subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -5,950 | -5,249 | -19,572 | |||
GAAP net income from REIT operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Note 21 - Income Taxes (Details) - GAAP Net Income/(Loss) to Taxable Income Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
GAAP net income | ' | ' | ' | ' | ' | ' | ' | ' | 230,331 | [1] | 260,824 | [1] | 149,479 | [1] |
Less: GAAP net income of taxable REIT subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -230,331 | [1] | -260,824 | [1] | -149,479 | [1] |
Other Credit Derivatives [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Note 21 - Income Taxes (Details) - GAAP Net Income/(Loss) to Taxable Income Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Other book/tax differences, net | ' | ' | ' | ' | ' | ' | ' | ' | ($4,544) | ($3,416) | $1,016 | |||
[1] | All adjustments to "GAAP net income from REIT operations" are net of amounts attributable to noncontrolling interest and taxable REIT subsidiaries. |
Note_21_Income_Taxes_Details_T
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Dividends distributed, amount | $400,354 | $382,722 | $353,764 |
Series F Preferred Stock [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Ordinary income, amount | ' | 9,116 | 11,638 |
Ordinary income, percent | ' | 94.00% | 100.00% |
Capital gain, amount | ' | 582 | ' |
Capital gain, percent | ' | 6.00% | ' |
Dividends distributed, amount | ' | 9,698 | 11,638 |
Dividends distributed, percent | ' | 100.00% | 100.00% |
Series G Preferred Stock [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Ordinary income, amount | ' | 33,046 | 35,650 |
Ordinary income, percent | ' | 94.00% | 100.00% |
Capital gain, amount | ' | 2,109 | ' |
Capital gain, percent | ' | 6.00% | ' |
Dividends distributed, amount | ' | 35,155 | 35,650 |
Dividends distributed, percent | ' | 100.00% | 100.00% |
Series H Preferred Stock [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Ordinary income, amount | 8,694 | 11,351 | 13,584 |
Ordinary income, percent | 72.00% | 94.00% | 100.00% |
Capital gain, amount | 3,381 | 725 | ' |
Capital gain, percent | 28.00% | 6.00% | ' |
Dividends distributed, amount | 12,075 | 12,076 | 13,584 |
Dividends distributed, percent | 100.00% | 100.00% | 100.00% |
Series I Preferred Stock [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Ordinary income, amount | 17,280 | 12,847 | ' |
Ordinary income, percent | 72.00% | 94.00% | ' |
Capital gain, amount | 6,720 | 820 | ' |
Capital gain, percent | 28.00% | 6.00% | ' |
Dividends distributed, amount | 24,000 | 13,667 | ' |
Dividends distributed, percent | 100.00% | 100.00% | ' |
Series J Preferred Stock [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Ordinary income, amount | 8,910 | 2,585 | ' |
Ordinary income, percent | 72.00% | 94.00% | ' |
Capital gain, amount | 3,465 | 165 | ' |
Capital gain, percent | 28.00% | 6.00% | ' |
Dividends distributed, amount | 12,375 | 2,750 | ' |
Dividends distributed, percent | 100.00% | 100.00% | ' |
Series K Preferred Stock [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Ordinary income, amount | 6,064 | ' | ' |
Ordinary income, percent | 72.00% | ' | ' |
Capital gain, amount | 2,358 | ' | ' |
Capital gain, percent | 28.00% | ' | ' |
Dividends distributed, amount | 8,422 | ' | ' |
Dividends distributed, percent | 100.00% | ' | ' |
Common Stock [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Characteristics of Distributions Paid [Line Items] | ' | ' | ' |
Ordinary income, amount | 158,001 | 222,751 | 208,832 |
Ordinary income, percent | 46.00% | 72.00% | 71.00% |
Capital gain, amount | 61,827 | 15,469 | ' |
Capital gain, percent | 18.00% | 5.00% | ' |
Return of capital | 123,654 | 71,156 | 84,060 |
Return of capital | 36.00% | 23.00% | 29.00% |
Dividends distributed, amount | $343,482 | $309,376 | $292,892 |
Dividends distributed, percent | 100.00% | 100.00% | 100.00% |
Note_21_Income_Taxes_Details_T1
Note 21 - Income Taxes (Details) - Taxable Income and Provisions for Income Taxes (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 21 - Income Taxes (Details) - Taxable Income and Provisions for Income Taxes [Line Items] | ' | ' | ' |
Net income from U.S. taxable REIT subsidiaries | $241,353 | $280,275 | $182,090 |
Federal tax (provision)/benefit | 10,799 | -3,141 | -16,505 |
Total tax (provision)/benefit b U.S. | -34,520 | -16,922 | -25,789 |
Taxable REIT Subsidiaries [Member] | ' | ' | ' |
Note 21 - Income Taxes (Details) - Taxable Income and Provisions for Income Taxes [Line Items] | ' | ' | ' |
Income/(loss) before income taxes b U.S. | -4,849 | 8,390 | 36,077 |
Net income from U.S. taxable REIT subsidiaries | 5,950 | 5,249 | 19,572 |
Income before taxes b Non-U.S. | 188,215 | 33,842 | 63,154 |
Current | -1,647 | -503 | -2,463 |
Deferred | 9,725 | -535 | -10,635 |
Federal tax (provision)/benefit | 8,078 | -1,038 | -13,098 |
Current | 1,159 | -1,543 | -1,343 |
Deferred | 1,562 | -560 | -2,064 |
State tax (provision)/benefit | 2,721 | -2,103 | -3,407 |
Total tax (provision)/benefit b U.S. | 10,799 | -3,141 | -16,505 |
Current | -30,102 | 5,790 | -4,484 |
Deferred | 2,045 | 1,239 | 2,784 |
Non-U.S. tax provision | ($28,057) | $7,029 | ($1,700) |
Note_21_Income_Taxes_Details_D
Note 21 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Tax/GAAP basis differences | $28,800 | ' |
Total deferred tax assets | 123,911 | 113,421 |
Net deferred tax assets | 91,242 | 90,225 |
Net operating losses | 72,716 | 43,483 |
Related party deferred losses | 6,214 | 6,214 |
Tax credit carryforwards | 3,773 | 3,815 |
Capital loss carryforwards | 3,867 | 647 |
Charitable contribution carryforwards | ' | 3 |
Domestic [Member] | ' | ' |
Deferred tax assets: | ' | ' |
Tax/GAAP basis differences | 50,133 | 68,623 |
Valuation allowance | -25,045 | -33,783 |
Deferred tax liabilities | -21,302 | -9,933 |
Foreign [Member] | ' | ' |
Deferred tax assets: | ' | ' |
Tax/GAAP basis differences | 50,920 | 62,548 |
Valuation allowance | -38,667 | -38,129 |
Deferred tax liabilities | ($11,367) | ($13,263) |
Note_21_Income_Taxes_Details_S
Note 21 - Income Taxes (Details) - Statutory Income Tax to Effective Income Tax Reconciliation (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statutory Income Tax to Effective Income Tax Reconciliation [Abstract] | ' | ' | ' |
Federal (benefit)/provision at statutory tax rate (35%) | ($1,697) | $2,936 | $12,627 |
State and local (benefit)/provision, net of federal benefit | -205 | 230 | 1,683 |
Acquisition of FNC | -9,126 | ' | ' |
Other | 229 | -25 | 2,195 |
Total tax (benefit)/provision b U.S. | ($10,799) | $3,141 | $16,505 |
Note_21_Income_Taxes_Details_S1
Note 21 - Income Taxes (Details) - Statutory Income Tax to Effective Income Tax Reconciliation (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statutory Income Tax to Effective Income Tax Reconciliation [Abstract] | ' | ' | ' |
Statutory tax rate | 35.00% | 35.00% | 35.00% |
Note_21_Income_Taxes_Details_U
Note 21 - Income Taxes (Details) - Uncertain Tax Benefits Liability (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Uncertain Tax Benefits Liability [Abstract] | ' | ' |
Balance, beginning of year | $16,890 | $16,901 |
Increases for tax positions related to current year | 15 | 3,079 |
Reductions due to lapsed statute of limitations | ' | -3,090 |
Reduction due to adoption of ASU 2013-11(a) | -12,315 | ' |
Balance, end of year | $4,590 | $16,890 |
Note_22_Accumulated_Other_Comp2
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Details) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | $91 |
CANADA | ' |
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Details) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 23.7 |
Latin America [Member] | ' |
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Details) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 114.7 |
MEXICO | ' |
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Details) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 106.9 |
Attributable To Noncontrolling Interests [Member] | ' |
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Details) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | $5.60 |
Note_22_Accumulated_Other_Comp3
Note 22 - Accumulated Other Comprehensive Income ("AOCI") (Details) - Components of Accumulated Other Comprehensive Income (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Balance | ($66,182) | |
Other comprehensive income before reclassifications | 5,537 | |
Amounts reclassified from AOCI | -4,337 | |
Balance | -64,982 | |
Accumulated Translation Adjustment [Member] | Current Period [Member] | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Net current-period other comprehensive income | -5,573 | |
Accumulated Translation Adjustment [Member] | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Balance | -85,404 | |
Other comprehensive income before reclassifications | -10,668 | |
Amounts reclassified from AOCI | 5,095 | [1] |
Balance | -90,977 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Current Period [Member] | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Net current-period other comprehensive income | 6,773 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Balance | 19,222 | |
Other comprehensive income before reclassifications | 16,205 | |
Amounts reclassified from AOCI | -9,432 | [2] |
Balance | 25,995 | |
Current Period [Member] | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | |
Net current-period other comprehensive income | $1,200 | |
[1] | Amounts were reclassified to Impairment/loss on operating properties sold, net of tax, within Discontinued operations on the Company's Consolidated Statements of Income, as a result of the full liquidation of the Company's investment in Brazil. | |
[2] | Amounts were reclassified to Interest, dividends and other investment income on the Company's Consolidated Statements of Income. |
Note_23_Supplemental_Financial2
Note 23 - Supplemental Financial Information (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Quarterly Financial Information Disclosure [Abstract] | ' | ' |
Allowance for Doubtful Accounts Receivable | $10.80 | $16.40 |
Unrecoverable Straight-line Rent Receivable | $23.40 | $22.80 |
Note_23_Supplemental_Financial3
Note 23 - Supplemental Financial Information (Details) - Quarterly Results of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||
Quarterly Results of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenues from rental properties (1) (in Dollars) | $238,055 | [1] | $226,536 | [1] | $225,207 | [1] | $220,558 | [1] | $216,895 | [1] | $208,130 | [1] | $208,648 | [1] | $203,208 | [1] | $910,356 | $836,881 | $779,156 |
Net income attributable to the Company (in Dollars) | $61,609 | $55,763 | $51,139 | $67,770 | $88,382 | $54,941 | $69,112 | $53,638 | $236,281 | $266,073 | $169,051 | ||||||||
Net income per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic | $0.11 | $0.10 | $0.09 | $0.13 | $0.14 | $0.07 | $0.12 | $0.09 | $0.43 | $0.42 | $0.27 | ||||||||
Diluted | $0.11 | $0.10 | $0.09 | $0.13 | $0.14 | $0.07 | $0.12 | $0.09 | $0.43 | $0.42 | $0.27 | ||||||||
[1] | All periods have been adjusted to reflect the impact of operating properties sold during 2013 and 2012 and properties classified as held-for-sale as of December 31, 2013, which are reflected in the caption Discontinued operations on the accompanying Consolidated Statements of Income. |
Note_24_Pro_Forma_Financial_In2
Note 24 - Pro Forma Financial Information (Unaudited) (Details) - Pro Forma Financial Information (USD $) | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Pro Forma Financial Information [Abstract] | ' | ' |
Revenues from rental properties | $938.80 | $914 |
Net income | 293.6 | 240.4 |
Net income available to the Companybs common shareholders | $230.10 | $131.50 |
Net income attributable to the Companybs common shareholders per common share: | ' | ' |
Basic (in Dollars per share) | $0.56 | $0.32 |
Diluted (in Dollars per share) | $0.56 | $0.32 |
Schedule_II_Valuation_and_Qual2
Schedule II - Valuation and Qualifying Accounts (Details) - Valuation and Qualifying Accounts (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Balance at beginning of period | $16,402 | $18,059 | $15,712 |
Charged to expenses | 3,521 | 6,309 | 7,027 |
Deductions | -9,152 | -7,966 | -4,680 |
Balance at end of period | 10,771 | 16,402 | 18,059 |
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Balance at beginning of period | 71,912 | 66,520 | 43,596 |
Adjustments to valuation accounts | -8,200 | 5,392 | 22,924 |
Balance at end of period | $63,712 | $71,912 | $66,520 |
Schedule_III_Real_Estate_and_A1
Schedule III - Real Estate and Accumulated Depreciation (Details) (USD $) | 12 Months Ended |
In Billions, unless otherwise specified | Dec. 31, 2013 |
Schedule III - Real Estate and Accumulated Depreciation (Details) [Line Items] | ' |
SEC Schedule III, Real Estate, Federal Income Tax Basis (in Dollars) | 8 |
Minimum [Member] | ' |
Schedule III - Real Estate and Accumulated Depreciation (Details) [Line Items] | ' |
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | '15 years |
Maximum [Member] | ' |
Schedule III - Real Estate and Accumulated Depreciation (Details) [Line Items] | ' |
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | '50 years |
Schedule_III_Real_Estate_and_A2
Schedule III - Real Estate and Accumulated Depreciation (Details) - Real Estate and Accumulated Depreciation (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 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2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 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Mallside Plaza [Member] | KDI-Glenn Square [Member] | KDI-The Grove [Member] | KDI-Chandler Auto Malls [Member] | DEV- El Mirage [Member] | Talavi Town Center [Member] | Mesa Pavillions [Member] | Mesa Riverview [Member] | Mesa Pavillions - South [Member] | Metro Square [Member] | Hayden Plaza North [Member] | Phoenix, Costco [Member] | Phoenix [Member] | Pinacle Peak- N. Canyon Ranch [Member] | Village Crossroads [Member] | North Valley [Member] | KDI-Asante Retail Center [Member] | DEV-Surprise II [Member] | Bell Camino Center [Member] | College Park Shopping Center [Member] | Alhambra, Costco [Member] | Madison Plaza [Member] | Chula Vista, Costco [Member] | Corona Hills, Costco [Member] | Laband Village SC [Member] | Cupertino Village [Member] | Chico Crossroads [Member] | Corona Hills Marketplace [Member] | River Park Shopping Center [Member] | Gold Country Center [Member] | La Mirada Theatre Center [Member] | Kenneth Hahn Plaza [Member] | Novato Fair S.C. [Member] | South Napa Market Place [Member] | Plaza Di Northridge [Member] | Poway City Centre [Member] | Redwood City [Member] | Tyler Street [Member] | Santa Ana, Home Depot [Member] | San/Diego Carmel Mountain [Member] | Fulton Market Place [Member] | Marigold SC [Member] | Canyon Square Plaza [Member] | Black Mountain Village [Member] | City Heights [Member] | Santee Trolley Square [Member] | Truckee Crossroads [Member] | Westlake Shopping Center [Member] | Savi Ranch [Member] | Village on the Park [Member] | Aurora Quincy [Member] | Aurora East Bank [Member] | Northridge Shopping Center [Member] | Spring Creek Colorado [Member] | Denver West 38th Street [Member] | Englewood Phar Mor [Member] | Fort Collins S.C. [Member] | Greeley Commons [Member] | Highlands Ranch Village [Member] | Village Center West [Member] | Highlands Ranch II [Member] | Heritage West [Member] | Market At Southpark [Member] | West Farm Shopping Center [Member] | N.Haven, Home Depot [Member] | Waterbury [Member] | Wilton River Park Shopping Ctr [Member] | Bright Horizons [Member] | Wilton Campus [Member] | Dover [Member] | Elsmere [Member] | Auburndale [Member] | Boca Raton [Member] | Bayshore Gardens, Bradenton FL [Member] | Coral Springs 1 [Member] | Coral Springs 2 [Member] | Curlew Crossing S.C. [Member] | East Orlando [Member] | Ft.Lauderdale/Cypress Creek [Member] | Homestead [Member] | Oakwood Business Ctr-Bldg 1 [Member] | Shoppes at Amelia Concourse [Member] | Avenues Walks [Member] | Riverplace Shopping Ctr. [Member] | Merchants Walk [Member] | Largo [Member] | Leesburg [Member] | Largo East Bay [Member] | Lauderhill [Member] | The Groves [Member] | Lake Wales [Member] | Melbourne [Member] | Grove Gate [Member] | Chevron Outparcel [Member] | North Miami [Member] | Miller Road [Member] | Margate [Member] | Mt. Dora [Member] | Kendale Lakes Plaza [Member] | Plantation Crossing [Member] | Milton, FL [Member] | Flagler Park [Member] | Park Hill Plaza [Member] | Winn Dixie-Miami [Member] | Marathon Shopping Center [Member] | Sodo S.C. [Member] | Renaissance Center [Member] | Orlando 2 [Member] | Ocala [Member] | Millenia Plaza Phase II [Member] | Grand Oaks Village [Member] | Gonzalez [Member] | Pompano Beach [Member] | University Town Center [Member] | Palm Beach Gardens [Member] | St. Petersburg [Member] | Tuttle Bee Sarasota [Member] | South East Sarasota [Member] | Stuart [Member] | South Miami [Member] | Winn Dixie-St. Augustine [Member] | Tampa [Member] | Village Commons S.C. [Member] | Mission Bell Shopping Center [Member] | Village Commons S.C. [Member] | Winn Dixie-Tallahassee [Member] | West Palm Beach [Member] | Cross Country Plaza [Member] | Augusta [Member] | Market at Haynes Bridge [Member] | Embry Village [Member] | Village Shoppes-Flowery Branch [Member] | Lawrenceville Market [Member] | Five Forks Crossing [Member] | Savannah 2 [Member] | Chatham Plaza [Member] | Clive [Member] | KDI-Metro Crossing [Member] | Southdale Shopping Center [Member] | Des Moines [Member] | Dubuque [Member] | Waterloo [Member] | Nampa (Horsham) Future Dev. [Member] | Aurora, N. Lake [Member] | Bloomington [Member] | Belleville S.C. [Member] | Bradley [Member] | Calumet City [Member] | Countryside [Member] | Chicago [Member] | Champaign, Neil St. [Member] | Elston [Member] | Crystal Lake, NW Hwy [Member] | 108 West Germania Place [Member] | Downers Park Plaza [Member] | Downer Grove [Member] | Elgin [Member] | Forest Park [Member] | Fairview Hts, Bellville Rd. [Member] | Belleville Road S.C..-Fee [Member] | Geneva [Member] | Shops at Kildeer [Member] | Lake Zurich Plaza [Member] | Mt. Prospect [Member] | Mundelein, S. Lake [Member] | Norridge [Member] | Naperville [Member] | Marketplace of Oaklawn [Member] | Orland Park, S. Harlem [Member] | Oak Lawn [Member] | Oakbrook Terrace [Member] | Peoria [Member] | Freestate Bowl [Member] | Rockford Crossing [Member] | Round Lake Beach Plaza [Member] | Skokie [Member] | KRC Streamwood [Member] | Hawthorn Hills Square [Member] | Woodgrove Festival [Member] | Waukegan Plaza [Member] | Greenwood [Member] | South Bend, S. High St. [Member] | Overland Park [Member] | Bellevue [Member] | Lexington [Member] | Hammond Air Plaza [Member] | Winn Dixie-Baton Rouge [Member] | Centre at Westbank [Member] | Lafayette 3 [Member] | Prien Lake [Member] | Prien Lake Plaza Outparcel [Member] | Ambassador Plaza [Member] | Bayou Walk [Member] | East Side Plaza [Member] | Winn Dixie-Walker [Member] | Great Barrington [Member] | Shrewsbury Shopping Center [Member] | Putty Hill Plaza [Member] | Snowden Square [Member] | Wilde Lake [Member] | Clinton Bank Building [Member] | Clinton Bowl [Member] | TJMaxx [Member] | Columbia Crossing - 2 Outparcels [Member] | Villages at Urbana [Member] | Gaithersburg [Member] | Shawan Plaza [Member] | Laurel [Member] | Laurel 2 [Member] | Owings Mills Plaza [Member] | Perry Hall [Member] | Centre Court-Retail/Bank [Member] | Centre Court-Giant [Member] | Centre Court-Old Court/CourtYD [Member] | Timonium Shopping Center [Member] | Towson Place [Member] | Waldorf Bowl [Member] | Waldorf Firestone [Member] | Bangor, ME [Member] | Stroudwater Street [Member] | Clawson [Member] | White Lake [Member] | Canton TWP Plaza [Member] | Clinton TWP Plaza [Member] | Farmington [Member] | Flint - Vacant Land [Member] | Livonia [Member] | Muskegon [Member] | Okemos Plaza [Member] | Taylor [Member] | Walker [Member] | Eden Prairie Plaza [Member] | Fountains at Arbor Lakes [Member] | Roseville Plaza [Member] | Creve Coeur, Woodcrest/Olive [Member] | Crystal City, MI [Member] | Independence, Noland Dr. [Member] | North Point Shopping Center [Member] | Kirkwood [Member] | Kansas City [Member] | Lemay [Member] | Gravois [Member] | St. Charles-Underdeveloped Land, MO [Member] | Springfield [Member] | Kmart Parcel [Member] | KRC St. Charles [Member] | St. Louis, Christy Blvd. [Member] | Overland [Member] | St. Louis [Member] | St. Louis 2 [Member] | St. Peters [Member] | Springfield,Glenstone Ave. [Member] | KDI-Turtle Creek [Member] | Overlook Village [Member] | Charlotte 2 [Member] | Tyvola Rd. [Member] | Crossroads Plaza [Member] | Jetton Village Shoppes [Member] | Mountain Island Marketplace [Member] | Woodlawn S.C. [Member] | Durham [Member] | Davidson Commons [Member] | Westridge Square [Member] | Hillsborough Crossing [Member] | Park Place 2 [Member] | Mooresville Crossing [Member] | Raleigh [Member] | Wakefield Commons II [Member] | Wakefield Crossings [Member] | Edgewater Place [Member] | Brennan Station [Member] | Brennan Station Outparcel [Member] | Winston-Salem [Member] | Sorenson Park Plaza [Member] | Lorden Plaza [Member] | Rockingham [Member] | Bayonne Broadway [Member] | Bricktown Plaza [Member] | Cherry Hill [Member] | Marlton Pike [Member] | Cinnaminson [Member] | Garden State Pavilions [Member] | Clarke Shoprite 70 Central Ave [Member] | Commerce Center West [Member] | Commerce Center East [Member] | Bally's & Riteaid 140 Central [Member] | Eastwindor Village [Member] | Hillsborough 2 [Member] | Holmdel Towne Center [Member] | Holmdel Commons [Member] | Howell Plaza [Member] | Maple Shade [Member] | North Brunswick [Member] | Piscataway Town Center [Member] | Ridgewood [Member] | Sea Girt Plaza [Member] | Union Crescent [Member] | Westmont [Member] | Willowbrook Plaza [Member] | Plaza Paseo Del-Norte [Member] | Juan Tabo, Albuquerque [Member] | DEV-Warm Springs Promenade [Member] | Comp USA Center [Member] | Del Monte Plaza [Member] | D'Andrea Marketplace [Member] | Key Bank Building [Member] | Bridgehampton [Member] | Genovese Drug Store [Member] | Kings Highway [Member] | Homeport-Ralph Avenue [Member] | Bellmore [Member] | Market at Bay Shore [Member] | Key Food Operator Atlantic Ave [Member] | King Kullen Plaza [Member] | Pathmark SC [Member] | Birchwood Plaza Commack [Member] | Elmont [Member] | Elmsford Center 1 [Member] | Elmsford Center 2 [Member] | Franklin Square [Member] | Kissena Boulevard SC [Member] | Hampton Bays [Member] | Hicksville [Member] | Turnpike Plaza [Member] | Birchwood Plaza (North & South) [Member] | 501 North Broadway [Member] | Merrylane (P/L) [Member] | Family Dollar Union Turnpike [Member] | Douglaston Shopping Center [Member] | Key Food Operator 21St Street [Member] | Manhasset Venture LLC [Member] | Manhasset Center (Residential) [Member] | Maspeth Queens-Duane Reade [Member] | Massapequa [Member] | Mineola SC [Member] | Birchwood Park Drive (Land Lot) [Member] | Smithtown Plaza [Member] | Plainview [Member] | Poughkeepsie [Member] | Syosset, NY [Member] | Staten Island [Member] | Staten Island 2 [Member] | Staten Island Plaza [Member] | Hylan Plaza [Member] | Stop N Shop Staten Island [Member] | Key Food Operator Central Ave. [Member] | White Plains [Member] | Champion Food Supermarket [Member] | Yonkers [Member] | Strauss Romaine Avenue [Member] | Beavercreek [Member] | Olentangy River Rd. [Member] | Kent, OH [Member] | Kent [Member] | North Olmsted [Member] | Orange Ohio [Member] | Edmond [Member] | Centennial Plaza [Member] | Oregon Trail Center [Member] | Powell Valley Junction [Member] | Medford Center [Member] | KDI-McMinnville [Member] | Allegheny [Member] | Suburban Square [Member] | Chippewa [Member] | Brookhaven Plaza [Member] | Carnegie [Member] | Center Square [Member] | Wayne Plaza [Member] | Chambersburg Crossing [Member] | Devon Village [Member] | East Stroudsburg [Member] | Ridge Pike Plaza [Member] | Exton [Member] | Exton 2 [Member] | Eastwick [Member] | Exton Plaza [Member] | Harrisburg, PA [Member] | Hamburg [Member] | Havertown [Member] | Norristown [Member] | New Kensington [Member] | Philadelphia [Member] | Philadelphia Plaza [Member] | Wexford Plaza [Member] | 242-244 Market Street [Member] | Richboro [Member] | Springfield 2 [Member] | Upper Darby [Member] | West Mifflin [Member] | Whitehall [Member] | W. Market St. [Member] | Rexville Town Center [Member] | Plaza Centro - Costco [Member] | Plaza Centro - Mall [Member] | Plaza Centro - Retail [Member] | Plaza Centro - Sam's Club [Member] | Los Colobos - Builders Square [Member] | Los Colobos - Kmart [Member] | Los Colobos I [Member] | Los Colobos II [Member] | Western Plaza - Mayaquez One [Member] | Western Plaza - Mayaguez Two [Member] | Manati Villa Maria SC [Member] | Ponce Town Center [Member] | Trujillo Alto Plaza [Member] | Marshall Plaza, Cranston RI [Member] | Charleston [Member] | Charleston 2 [Member] | Greenville [Member] | Cherrydale Point [Member] | Woodruff Shopping Center 2 [Member] | Forest Park 2 [Member] | Madison [Member] | Hickory Ridge Commons [Member] | Center of The Hills, TX [Member] | Arlington [Member] | Dowlen Center [Member] | Gateway Station [Member] | Baytown [Member] | Las Tiendas Plaza [Member] | Corpus Christi, TX [Member] | Island Gate Plaza [Member] | Preston Lebanon Crossing [Member] | KDI-Lake Prairie Town Crossing [Member] | Center at Baybrook [Member] | Cypress Towne Center [Member] | Atascocita Commons Shop. Ctr. [Member] | Tomball Crossings [Member] | Shops at Vista Ridge [Member] | Vista Ridge Plaza [Member] | Vista Ridge Phase II [Member] | South Plaines Plaza, TX [Member] | Lake Jackson [Member] | Mesquite [Member] | Mesquite Town Center [Member] | New Braunsfels [Member] | Parker Plaza [Member] | Plano [Member] | Southlake Oaks [Member] | Woodbridge S.C. [Member] | West Oaks [Member] | Ogden [Member] | Colonial Heights [Member] | Old Town Village [Member] | Richmond [Member] | Richmond 2 [Member] | Valley View Shopping Center [Member] | Potomac Run Plaza [Member] | Auburn North [Member] | The Marketplace At Factoria [Member] | Frontier Village Shopping Ctr. [Member] | Olympia West Outparcel [Member] | Silverdale Plaza [Member] | Charles Town [Member] | Blue Ridge [Member] | Microproperties [Member] | KRC North Loan IV, Inc [Member] | Chile-Vina Del Mar [Member] | Mexico - Hermosillo [Member] | Mexico-Gigante Acq. [Member] | Mexico-Motorola [Member] | Mexico-Non Adm Bt-Los Cabos [Member] | Mexico-Plaza Soriana [Member] | Mexico-Plaza Centenario [Member] | Mexico-Non Adm Bus-Nuevo Laredo [Member] | Mexico-Non Adm-Plaza Lago Real [Member] | Mexico-Non Adm -Plaza San Juan [Member] | Mexico-Rio Bravo Heb [Member] | Mexico-San Pedro [Member] | Mexico-Tapachula [Member] | Mexico-Tijuana 2000 Land Purchase [Member] | Mexico-Waldo Acq. [Member] | Peru-Campoy [Member] | Peru-Lima [Member] | Balance of Portfolio [Member] | |||||
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land | $2,161,328,855 | ' | ' | ' | $6,930,996 | $3,306,779 | $18,951,763 | $9,318,595 | $6,786,441 | $8,046,677 | $6,060,018 | $15,000,000 | ' | $4,101,017 | $2,015,726 | $5,324,501 | $2,450,341 | $1,228,000 | $5,662,554 | $6,861,564 | $8,702,635 | $4,138,760 | $2,427,465 | $3,276,951 | $4,995,639 | $5,874,396 | $6,460,743 | $13,360,965 | $5,600,000 | $19,886,099 | $9,975,810 | $9,727,446 | $4,324,000 | $3,272,212 | $8,816,741 | $4,114,863 | $9,259,778 | $1,100,000 | $12,900,000 | $5,854,585 | $2,552,000 | $3,020,883 | $4,592,364 | $5,322,600 | $2,966,018 | $15,300,000 | $2,648,112 | $4,678,015 | $10,687,472 | $40,208,683 | $2,140,000 | $16,174,307 | $7,295,646 | $2,194,463 | $1,148,317 | $1,500,568 | $4,932,690 | $1,423,260 | $161,167 | $805,837 | $1,253,497 | $3,313,095 | $8,135,427 | $2,010,519 | $3,514,837 | $1,526,576 | $9,782,769 | $5,805,969 | $7,704,968 | $2,253,078 | $7,154,585 | $1,211,748 | $10,168,872 | $122,741 | ' | $751,315 | $573,875 | $2,901,000 | $710,000 | $1,649,000 | $5,315,955 | $491,676 | $14,258,760 | $150,000 | $6,792,500 | $7,600,000 | $26,984,546 | $7,503,282 | $2,580,816 | $293,686 | ' | $2,832,296 | $1,002,733 | $1,676,082 | $601,052 | ' | $365,893 | $530,570 | $732,914 | $1,138,082 | $2,948,530 | $1,011,000 | $18,491,461 | $7,524,800 | $1,275,593 | $26,162,980 | $10,763,612 | $2,989,640 | $2,412,929 | ' | $9,104,379 | $560,800 | $1,980,000 | $7,711,000 | $7,409,319 | $1,620,203 | $10,516,500 | $5,515,265 | $2,764,953 | ' | $254,961 | $1,283,400 | $2,109,677 | $1,280,440 | $1,543,040 | $5,220,445 | $2,192,331 | $5,056,426 | $2,026,423 | $1,253,720 | $550,896 | $16,510,000 | $1,482,564 | $4,880,659 | $18,147,054 | $4,444,148 | $8,878,266 | $2,363,848 | $2,052,270 | $13,390,238 | $500,525 | $3,013,647 | $1,720,330 | $500,525 | ' | $500,525 | $6,501,240 | $2,059,908 | $805,521 | ' | $500,422 | $1,479,217 | ' | ' | $230,519 | $1,010,374 | $179,964 | $2,393,894 | $2,510,455 | $811,778 | $842,555 | ' | ' | $1,900,000 | $500,422 | $5,259,542 | $1,890,319 | $1,017,345 | $1,127,720 | ' | $669,483 | ' | $476,972 | $1,530,111 | $1,527,188 | ' | $252,723 | $4,575,990 | $790,129 | ' | $181,962 | $6,783,928 | $5,049,149 | $349,409 | $423,371 | $183,463 | $1,183,911 | $405,217 | $1,675,031 | $3,813,873 | $1,229,610 | $9,554,230 | $2,115,000 | $6,426,167 | $540,000 | $1,803,672 | $4,586,895 | $3,295,799 | $1,060,840 | $642,170 | $1,284,168 | $4,192,152 | $1,929,402 | $1,468,038 | $82,967 | $39,779 | $1,279,200 | $3,137,628 | $3,190,074 | $244,890 | $4,466,000 | $349,562 | $274,580 | $303,911 | $3,339,309 | $1,035,359 | $3,854,099 | $2,279,177 | $6,000,000 | $43,886,876 | $225,099 | $57,127 | $403,833 | $1,250,000 | $1,624,771 | $2,300,050 | $163,740 | $175,515 | $1,098,426 | $101,424 | $178,785 | $391,500 | $166,706 | $1,451,397 | $3,682,478 | $882,596 | $28,585,296 | $132,842 | $1,044,598 | ' | $1,728,367 | $1,935,380 | ' | $574,777 | $125,879 | $1,032,416 | $431,960 | $2,745,595 | $905,674 | ' | $809,087 | ' | ' | ' | $1,182,194 | ' | $11,535,281 | $8,276,500 | $919,251 | ' | $767,864 | $3,875,224 | $3,318,587 | $2,010,725 | $1,882,800 | $2,978,533 | $7,456,381 | $519,395 | $5,461,478 | $12,013,727 | $5,208,885 | $6,506,450 | $3,413,932 | $3,150,000 | $7,749,751 | $627,906 | $540,667 | $5,104,294 | $8,872,529 | $2,660,915 | $1,434,737 | $344,884 | $2,417,583 | ' | $652,123 | $7,530,709 | $3,496,673 | $385,760 | $1,518,930 | $3,170,465 | $9,335,011 | $11,886,809 | $10,824,624 | $16,537,556 | $311,384 | ' | $3,204,978 | $3,851,839 | $450,000 | $457,039 | $7,895,483 | $601,655 | $15,320,436 | $4,653,197 | $1,141,200 | $7,226,363 | $2,581,908 | $2,489,429 | $11,556,067 | $1,500,000 | $1,811,752 | $564,097 | $2,743,820 | $4,414,466 | $1,272,269 | $12,359,621 | $2,272,500 | $5,968,082 | $6,714,664 | $3,630,000 | $3,011,658 | $4,134,273 | $4,076,403 | $1,078,541 | $11,610,000 | $1,495,105 | $3,542,739 | $2,471,832 | $12,368,330 | ' | $1,485,531 | $909,000 | $3,277,254 | $1,090,800 | $4,567,003 | $950,000 | $1,872,013 | $1,880,816 | $4,150,000 | $3,507,162 | $3,528,000 | $263,693 | $876,548 | $106,655 | $2,280,000 | $2,940,000 | $5,600,744 | $28,723,536 | $4,558,592 | $2,787,600 | $1,777,775 | $757,500 | $871,977 | $782,459 | $635,228 | $764,517 | $6,254 | $2,261,530 | $626,818 | $3,783,875 | $477,036 | $4,650,634 | $5,802,422 | $5,062,500 | $8,940,798 | $4,062,327 | ' | $70,679,871 | $2,881,525 | $254,694 | ' | $731,888 | $6,127,623 | $9,090,288 | $4,856,379 | $1,050,000 | $1,525,337 | $176,666 | $731,888 | $889,001 | $294,378 | $452,888 | $439,232 | $731,888 | $686,134 | $521,945 | $731,888 | $209,197 | $6,413,635 | $704,263 | $788,761 | $919,998 | $231,821 | $1,468,342 | ' | $188,562 | $24,872,982 | $3,627,973 | $19,873,263 | $5,935,566 | $6,643,224 | $4,404,593 | $4,594,944 | $12,890,882 | $14,893,698 | $10,857,773 | $16,874,345 | $2,781,447 | $14,432,778 | $12,053,673 | $1,886,600 | $730,164 | $1,744,430 | $2,209,812 | $5,801,948 | $3,110,439 | $1,920,241 | ' | $596,347 | $2,923,585 | $3,160,203 | $2,244,581 | $1,373,692 | $500,422 | $8,678,107 | ' | $4,343,000 | $13,552,180 | $7,897,491 | $6,941,017 | $6,033,932 | $16,322,636 | $8,517,427 | $3,257,199 | $2,926,495 | $2,276,575 | $1,890,000 | $1,562,328 | $520,340 | $3,757,324 | $840,000 | $7,846,946 | $500,414 | $3,011,260 | $2,568,705 | $500,422 | $213,818 | $125,376 | $4,500,000 | $82,544 | $670,500 | $3,440,018 | $27,369,515 | $7,785,841 | $60,502,358 | $10,750,863 | $360,000 | $3,875,013 | $602,000 | $12,346,900 | $24,206,390 | $23,516,663 | $11,096,948 | $11,424,531 | $7,568,417 | $47,272,528 | $10,873,070 | $2,639,975 | $3,388,861 | $10,627,540 | $11,336,743 | $9,631,035 | $2,970,663 | $3,309,654 | $13,716,428 | $1,200,000 | $8,929,278 | $2,675,461 | $811,916 | $1,907,178 |
Building & Improvement | 5,255,028,761 | ' | ' | ' | 18,148,727 | ' | 6,403,809 | ' | 503,987 | 17,291,542 | 35,955,005 | ' | 148,508 | 16,410,632 | 4,126,509 | 21,269,943 | 9,802,046 | 8,774,694 | 24,981,223 | 18,200,901 | 3,405,683 | 94,572 | 6,439,065 | 7,741,323 | 19,982,557 | 23,476,190 | 25,863,153 | 53,373,453 | 13,289,347 | 46,534,919 | 30,534,524 | 24,778,390 | 18,018,653 | 7,864,878 | 35,259,965 | 7,660,855 | 15,599,790 | 22,159,086 | 40,574,842 | 13,792,470 | 6,215,168 | 7,811,339 | 18,345,257 | 8,873,991 | 6,920,710 | 25,563,978 | 13,876,095 | 11,913,344 | 28,324,896 | 62,204,580 | 8,255,753 | 64,818,562 | 29,752,511 | 8,885,987 | 4,608,249 | 6,180,103 | 16,496,175 | 5,718,813 | 646,983 | 3,232,650 | 7,625,278 | 20,069,559 | 21,579,936 | 8,361,084 | 11,755,916 | 6,124,074 | 20,779,522 | 23,348,024 | 30,797,640 | 9,017,012 | 27,509,279 | 4,610,610 | 31,893,016 | 66,738 | 3,185,642 | ' | 2,295,501 | 11,738,955 | 2,842,907 | 6,626,301 | 12,529,467 | 1,440,000 | 28,042,390 | ' | 18,662,565 | ' | ' | 31,011,027 | 10,366,090 | 792,119 | 171,636 | 11,329,185 | 2,602,415 | 6,533,681 | ' | 1,754,000 | 1,049,172 | 1,253,410 | 4,080,460 | 4,552,327 | 11,754,120 | 4,062,890 | 28,496,001 | ' | ' | 80,737,041 | 19,264,248 | 9,410,360 | 8,069,450 | 68,139,271 | 36,540,873 | 2,268,112 | 7,927,484 | 20,702,992 | 19,653,869 | ' | 1,134,633 | 13,041,400 | 11,059,812 | 917,360 | 828,465 | 5,133,544 | 8,415,323 | 5,133,825 | 4,856,960 | 16,884,228 | 8,774,158 | 11,843,119 | 5,106,476 | 3,946,280 | 2,298,964 | 18,264,427 | 5,928,122 | 21,549,424 | 33,009,514 | 10,510,657 | 29,691,191 | 7,906,257 | 8,232,978 | 35,115,882 | 2,002,101 | ' | 6,916,294 | 2,559,019 | 2,152,476 | 2,002,101 | ' | 9,531,721 | 2,222,353 | 5,372,253 | 2,001,687 | 8,815,760 | 4,770,671 | 2,687,046 | 1,285,460 | 5,692,212 | 1,025,811 | 7,366,681 | 10,164,494 | 4,322,956 | 2,108,674 | 2,335,884 | 11,866,880 | ' | 12,917,712 | 28,141,501 | 2,649,381 | 6,572,176 | 5,826,129 | 2,918,315 | 4,464,998 | 678,668 | 2,764,775 | 8,776,631 | 8,679,108 | 5,081,290 | 998,099 | 11,654,022 | 1,634,148 | 2,276,360 | 1,057,740 | 33,033,624 | 20,822,993 | 883,975 | 1,883,421 | 1,070,401 | 6,335,308 | 1,743,573 | 6,848,209 | 15,260,609 | 3,870,390 | 24,401,082 | 8,508,218 | 15,181,072 | 1,260,000 | 4,260,966 | 10,836,007 | 7,785,942 | 3,339,160 | 2,547,830 | 5,284,853 | 11,112,111 | 4,557,934 | 5,869,862 | 362,371 | 130,716 | 2,870,800 | 19,868,075 | 6,067 | 6,787,534 | 20,222,367 | 1,398,250 | 1,100,968 | 1,370,221 | 12,377,339 | 7,785,830 | 12,769,628 | 5,284,577 | 24,282,998 | 101,764,931 | 739,362 | 221,621 | 1,622,331 | ' | 6,578,142 | 9,249,607 | 926,150 | 714,279 | 4,525,723 | ' | 925,818 | 958,500 | 591,193 | 5,806,263 | 14,730,060 | 911,373 | 66,699,024 | 957,340 | 5,475,623 | 234,378 | 8,951,101 | 7,800,746 | 9,704,005 | 2,971,191 | 503,510 | 4,455,514 | ' | 10,985,778 | 3,666,386 | 550,204 | 4,430,514 | 4,928,677 | 5,756,736 | 2,766,644 | 7,423,459 | 608,793 | ' | 17,249,587 | 3,570,981 | 4,736,345 | 3,098,881 | 10,292,231 | 7,331,413 | 5,833,626 | 7,551,576 | 12,859,867 | 19,778,703 | ' | 16,163,494 | 30,604,173 | 20,885,792 | ' | ' | ' | 20,556,891 | 1,665,576 | 719,655 | ' | 22,548,382 | 10,643,660 | 3,347,719 | 1,008,941 | 6,364,094 | 4,318,534 | 2,608,491 | 10,801,949 | 11,693,769 | 1,290,080 | 5,079,690 | 10,602,845 | 23,777,978 | ' | 43,301,494 | 38,759,952 | 1,143,159 | 9,957,611 | 12,819,912 | 15,410,851 | 2,106,566 | 1,308,010 | 3,010,640 | 2,404,604 | 40,996,874 | 18,633,584 | 4,566,817 | 19,109,946 | 5,798,092 | 5,590,415 | 29,435,364 | 40,486,755 | 3,107,232 | 2,268,768 | 6,811,268 | 11,339,857 | 3,183,547 | 30,707,802 | 5,624,589 | 23,243,404 | 17,359,161 | 4,774,791 | 7,606,066 | 1,193,084 | 15,598,504 | 2,516,581 | 2,933,487 | 5,979,320 | 8,266,375 | 5,839,416 | 33,071,495 | 1,175,543 | 1,749 | 2,249,775 | 13,161,218 | 2,699,730 | 19,165,808 | ' | 4,827,940 | 4,388,549 | 7,520,692 | 4,126 | 7,364,098 | 584,031 | 4,695,659 | 76,197 | 9,027,951 | 11,811,964 | 6,788,460 | 38,232,267 | 10,441,408 | 6,899,310 | 4,453,894 | 1,874,813 | 3,487,909 | 1,825,737 | 3,024,722 | 1,833,600 | 3,028,914 | ' | 3,712,045 | ' | 3,591,493 | 18,604,307 | 12,622,879 | 3,152,982 | 16,995,113 | ' | 30,061,177 | 166,351,381 | 11,526,101 | 973,318 | 3,298,908 | 2,927,551 | 15,605,012 | ' | 25,846,910 | 2,372,628 | 4,251,732 | 4,895,360 | 2,927,551 | 2,762,888 | 1,404,778 | 6,665,238 | ' | 2,927,551 | 2,664,535 | 2,548,322 | 2,927,551 | 1,373,843 | 9,774,600 | 2,117,182 | 3,155,044 | 4,981,589 | 927,286 | ' | 5,195,577 | 1,158,307 | 48,688,161 | 10,752,213 | 58,719,179 | 16,509,748 | 20,224,758 | 9,627,903 | 10,120,147 | 26,046,669 | 30,680,556 | 12,252,522 | 19,911,045 | 5,673,119 | 28,448,754 | 24,445,858 | 7,575,302 | 3,132,092 | 6,986,094 | 8,850,864 | 32,055,019 | 15,501,117 | 9,544,875 | 4,133,904 | 2,545,033 | 11,706,145 | 2,285,378 | ' | 28,145,158 | 2,431,651 | ' | 944,562 | 4,723,215 | ' | ' | 27,727,491 | ' | 54,587,066 | 28,484,450 | 13,029,416 | 11,716,483 | 9,106,300 | 7,555,099 | 4,144,212 | 2,081,356 | 15,061,644 | 3,360,000 | ' | 2,830,835 | 7,703,844 | 6,813,716 | 2,001,687 | 855,275 | 3,476,073 | 41,569,735 | 2,289,288 | 2,751,375 | 8,054,004 | 48,451,209 | 18,157,625 | 92,696,231 | 34,699,792 | 799,640 | 32,114,921 | 3,725,871 | 71,529,796 | 56,481,576 | ' | 720,781 | ' | 19,878,026 | ' | 1,257,517 | 346,945 | ' | ' | ' | ' | ' | 13,238,616 | ' | ' | 16,888,627 | ' | ' | 65,127,204 |
Subsequent to Acquisition | 1,706,986,253 | ' | ' | ' | 188,628 | 51,674,821 | 28,549,447 | -5,581,690 | 130,064 | -12,227 | -492,627 | 140,122,436 | 15,299 | 520,771 | 5,013,176 | 1,058,803 | 1,279,140 | 20,500 | 191,347 | 2,506,343 | 2,865,559 | 1,035 | 5,670 | 37,614 | 386,403 | 1,348,322 | 11,708,418 | 6,447,588 | 30,712 | 5,895,874 | 1,072,974 | 271,670 | 1,136,480 | 37,687 | -6,599,281 | 464,750 | 159,789 | 6,838,973 | -557,376 | 7,773,023 | ' | 102,113 | ' | 28,508 | 927,435 | 3,406,660 | 27,200 | 130,330 | -942,917 | ' | 925,899 | 96,519,331 | 0 | 5,619,852 | 988,825 | 779,217 | ' | 798,280 | ' | 276,227 | 1,599,608 | 62,366 | -932,293 | 6,815 | ' | 774,090 | -40,664 | 5,883,929 | 1,071,163 | 653,224 | -439,148 | 9,499 | 566,245 | 4,011,220 | 2,714,547 | -326,315 | 1,785,107 | 1,264,703 | 3,850,001 | 447,696 | 1,844,125 | 4,604,015 | 2,055,750 | ' | 1,330,782 | 8,987,554 | 49,446,351 | -404,691 | 6,138,693 | 1,620,990 | 193,651 | 2,237,056 | 12,664,122 | -1,347,648 | ' | 2,666,332 | 1,207,100 | ' | 10,926,161 | 4,291,936 | 7,957,087 | 453,924 | -2,721,449 | 10,698,362 | ' | 1,740,211 | 52,498 | ' | ' | 7,355,768 | 6,574,803 | 3,203,429 | 9,983,112 | 470,545 | -811,190 | 40,689 | 530,900 | 188,826 | 396,704 | 1,266,811 | 1,806,633 | 3,400,091 | 1,725,441 | 3,087,209 | ' | 2,599,727 | 2,736,462 | 8,681,467 | 257,096 | ' | 1,426,083 | 648,216 | 2,203,619 | 525,203 | 202,211 | 100,958 | ' | ' | 2,824,430 | 1,091,210 | ' | 35,650,722 | 3,760,738 | 37,079 | 239,217 | 2,869,100 | 10,300,062 | 308,208 | 4,246,390 | 1,255,387 | 424,877 | 13,656,577 | -4,531,252 | 871,802 | 725,493 | 498,828 | 564,039 | 152,028 | 1,039,162 | 3,348,460 | 1,802,066 | 154,213 | 7,936,933 | ' | 33,551 | 337,932 | 63,057 | 4,016,735 | 77,350 | ' | 456,947 | 25,343 | -2,694,903 | 588,483 | 3,298,212 | 2,403,560 | -485,425 | -577,091 | 587,575 | 9,488,382 | 216,585 | 2,230,045 | 4,243,714 | 2,276,671 | 7,316,996 | 196,857 | 142,374 | 247,204 | 5,773,377 | 7,227,023 | ' | 861,931 | 10,566,842 | -109,020 | ' | -6,701 | 153,992 | 353,892 | ' | 7,315,207 | 5,044,733 | 83,446 | ' | 11,035,925 | ' | 4,247 | 12,215,685 | ' | 10,496,574 | 230,545 | -857,895 | 1,598,933 | 434,562 | -503,247 | 938,707 | -29,007 | ' | ' | 16,750,746 | 261,321 | 84,327 | ' | 93,752 | ' | 8,738,369 | 2,210,968 | 5,249,730 | 1,147,275 | 2,657,433 | ' | 1,194,933 | 1,026,581 | 1,877,278 | 426,379 | 2,320,218 | 632,145 | 10,086,660 | 10,302,188 | 615,905 | ' | 442,975 | 909,151 | 13,699,527 | 274,976 | 3,837,848 | 11,344,340 | 758,854 | 7,652,181 | 4,933,942 | ' | 2,653,031 | 740,346 | 849,684 | 143,298 | 7,235,423 | 2,160,419 | 33,369,729 | ' | 2,418,716 | 5,565,798 | 942,332 | -613,879 | 500,000 | ' | 2,097,270 | -32,227 | -254,044 | ' | 54,701 | -403,339 | 12,643,481 | -2,728,390 | -3,017,960 | 10,087,943 | -1,027,052 | -93,482 | 6,466,329 | 30,749,693 | 423,882 | 12,033,085 | 2,825,469 | -307,857 | 1,559,162 | 9,000 | 3,477,974 | 744,382 | ' | ' | ' | ' | 63,800 | -6,880,755 | 5,271,400 | 3,413,848 | 4,694,515 | -177,307 | 21,304,526 | 692,255 | 1,015,675 | 1,457,882 | 28,918,367 | 10,727,665 | -969,688 | 1,464,134 | 300,234 | 2,591,393 | -343,745 | 502,509 | -35,616 | ' | 25,420,044 | ' | 1,338,513 | 3,697,073 | 381,803 | 1,916,035 | 509,260 | 5,316,528 | 526,939 | 274,672 | 2,751,121 | ' | ' | 3,835,613 | 1,519 | 3,304,710 | 1,281,727 | 125,480 | 272,893 | 78,259 | 539 | 230,747 | 3,788,141 | -119,282 | 27,930,686 | ' | 931,187 | 964,761 | -407,329 | 118,024 | 292,668 | 9,815,009 | 13,161,736 | 1,551,676 | 10,038,376 | 4,760,806 | -1,423,404 | 34,528,674 | 155,848 | -394,910 | 2,010,606 | -24,388 | ' | 588,133 | 4,220,733 | 2,340,830 | -434,587 | ' | 35,000 | -2,342,306 | 375,195 | 868,240 | 363,062 | -2,720,740 | 349,929 | 969,618 | 59,094 | 4,694,077 | 153,289 | -61,414 | 17,747 | 1,291,242 | 349,188 | 26,422,967 | 4,378,945 | 1,434,371 | 3,053,437 | ' | ' | 3,074,728 | 336,688 | 3,969,364 | 2,023,428 | ' | 3,797,064 | 705,540 | ' | 15,888 | 5,678,052 | 290,927 | 12,694,159 | 10,569,491 | 5,549,754 | ' | ' | ' | 6,726,885 | 1,544,456 | 7,977,102 | 2,467,418 | 2,338,149 | 1,369,323 | 734,343 | 3,317,629 | 4,598,890 | 1,285,971 | 1,714,874 | 1,254,747 | 5,257,359 | 3,846,668 | 1,924,691 | 18,727,969 | 4,082,494 | 887,322 | 1,292,326 | 1,182,533 | -6,551 | 2,880,678 | -2,404,809 | 936,582 | 490,738 | -722,251 | 1,189 | 790,598 | 25,971,206 | 3,526,281 | 647,677 | 26,160,828 | 26,295,311 | 9,078,279 | 1,562,808 | ' | ' | 743,364 | 1,980,576 | 1,333,509 | 429,355 | ' | 1,081,051 | 1,554,109 | ' | ' | ' | -62,791 | ' | 325,191 | 4,084,007 | 1,644,634 | -2,446,887 | 280,600 | ' | 922,790 | -119,969 | 219,761 | 991,958 | 96,299 | 100,360 | 205,450 | 11,269,416 | -15,786,679 | 11,349,660 | ' | 53,378,285 | 33,606,962 | -3,343,896 | 34,956,118 | 9,046,008 | 242,225 | -778,064 | 19,873,813 | 7,977,346 | 1,578,198 | 1,301,688 | -3,146,306 | 18,216,802 | 56,420 | -4,216,111 | 556,149 | 2,029,367 | 0 |
Land | 2,100,199,696 | ' | ' | ' | 6,939,589 | 3,306,779 | 15,575,865 | 3,383,972 | 6,786,441 | 8,046,677 | 6,060,018 | 307,992 | ' | 4,101,017 | 2,015,726 | 4,577,869 | 2,450,341 | 1,228,000 | 5,662,554 | 3,861,272 | 11,039,472 | 4,138,760 | 2,427,465 | 3,276,951 | 4,995,639 | 5,874,396 | 6,460,743 | 13,360,965 | 5,607,237 | 19,886,099 | 9,987,652 | 9,727,446 | 4,324,000 | 3,278,290 | 6,888,680 | 4,114,863 | 9,259,778 | 1,100,000 | 12,900,000 | 7,247,814 | 2,552,000 | 3,200,516 | 4,592,364 | 5,322,600 | 2,966,018 | 15,300,000 | 2,648,112 | 4,678,015 | 13,908,563 | 40,208,683 | 2,140,000 | 16,174,307 | 7,295,646 | 2,194,463 | 1,148,317 | 1,500,568 | 4,932,690 | 1,423,260 | 161,167 | 805,837 | 1,253,497 | 3,313,095 | 5,337,081 | 2,010,519 | 3,514,837 | 1,526,576 | 9,782,769 | 5,805,969 | 7,704,968 | 2,253,078 | 7,154,585 | 1,211,748 | 10,168,872 | 3,024,375 | ' | 425,000 | 733,875 | 2,901,000 | 710,000 | 1,649,000 | 5,315,955 | 1,007,882 | 14,258,760 | 150,000 | 6,792,500 | 1,138,216 | 33,225,306 | 7,200,050 | 2,580,816 | 293,686 | ' | 2,832,296 | 1,774,443 | 2,606,246 | 601,052 | ' | 365,893 | 530,570 | 732,914 | 1,138,082 | 2,948,530 | 1,011,000 | 15,362,227 | 6,929,857 | 1,275,593 | 26,162,980 | 10,891,930 | 2,989,640 | 2,412,929 | ' | 9,122,758 | 580,030 | 1,980,000 | 7,698,200 | 5,846,339 | 954,876 | 10,516,500 | 5,515,265 | 2,764,953 | ' | 254,961 | 1,399,525 | 2,109,677 | 1,280,440 | 1,543,040 | 5,220,445 | 2,192,331 | 5,067,033 | 2,026,423 | 1,253,720 | 550,896 | 16,510,000 | 1,482,564 | 4,889,863 | 18,160,524 | 4,444,148 | 8,878,266 | 2,363,848 | 2,052,270 | 13,403,262 | 500,525 | 1,514,916 | 1,720,330 | 500,525 | ' | 500,525 | 9,659,164 | 2,059,908 | 805,521 | 1,161,195 | 500,422 | 1,479,216 | 95,647 | ' | 230,519 | 1,010,374 | 180,269 | 2,393,894 | 2,510,455 | 811,778 | 500,927 | ' | ' | 1,900,000 | 500,422 | 5,259,542 | 1,890,319 | 1,017,345 | 1,129,634 | ' | 669,483 | ' | 87,998 | 1,530,111 | 1,527,188 | ' | 252,723 | 4,583,005 | 790,129 | 2,628,440 | 181,962 | 6,783,928 | 4,805,866 | 349,409 | 1,801,822 | 183,463 | 1,185,906 | 405,217 | 1,551,079 | 3,813,873 | 1,229,610 | 9,564,644 | 3,678,274 | 6,341,896 | 540,000 | 1,796,972 | 4,586,326 | 3,295,635 | 1,060,840 | 751,124 | 1,284,168 | 4,192,152 | 1,929,402 | 2,577,073 | 82,967 | 38,779 | 4,597,200 | 3,137,628 | 4,828,774 | 244,890 | 4,466,000 | 349,562 | 274,580 | 303,911 | 3,339,309 | 1,035,359 | 3,854,099 | 2,279,177 | 7,331,195 | 43,270,792 | 235,099 | 57,127 | 403,833 | 1,250,000 | 1,624,771 | 2,300,050 | 163,740 | 59,450 | 1,098,426 | 101,424 | 178,785 | 391,500 | 166,706 | 1,451,397 | 3,682,478 | 882,596 | 28,585,296 | 1,675,667 | 960,814 | ' | 1,731,300 | 1,935,380 | ' | 574,777 | 451,155 | 1,032,413 | 431,960 | 2,904,022 | 905,674 | ' | 809,087 | ' | ' | ' | 1,563,694 | ' | 10,150,881 | 8,276,500 | 919,251 | ' | 767,864 | 2,143,695 | 3,818,587 | 2,010,725 | 1,882,800 | 2,978,533 | 11,977,700 | 519,395 | 5,469,809 | 11,625,801 | 5,208,885 | 2,357,636 | 336,236 | 3,062,768 | 6,321,923 | 450,232 | 540,667 | 3,791,319 | 8,883,003 | 3,148,715 | 1,434,737 | 344,884 | 2,417,583 | ' | 652,123 | 7,530,709 | 3,496,673 | 385,760 | 1,518,930 | 3,170,465 | 9,335,011 | 5,006,054 | 10,824,624 | 16,537,556 | 311,384 | ' | 3,204,978 | 3,851,839 | 450,000 | 457,039 | 8,696,579 | 601,655 | 15,320,436 | 4,653,197 | 1,141,200 | 7,226,363 | 2,581,908 | 2,210,000 | 11,556,067 | 1,500,000 | 1,858,188 | 564,097 | 2,743,820 | 4,414,467 | 1,272,269 | 12,359,621 | 4,808,822 | 5,980,130 | 6,714,664 | 3,630,000 | 3,011,658 | 4,134,273 | 4,076,403 | 1,078,541 | 11,610,000 | 1,495,105 | 3,542,739 | 2,471,832 | 12,368,330 | ' | 1,485,531 | 1,056,709 | 3,277,253 | 1,669,153 | 3,471,939 | 950,000 | 1,872,013 | 1,880,816 | 4,150,000 | 3,507,406 | 3,528,000 | 263,693 | 876,548 | 106,655 | 2,280,000 | 3,148,424 | 5,600,744 | 28,723,536 | 4,558,592 | 2,603,321 | 1,777,775 | 2,241,118 | 871,977 | 782,459 | 635,228 | 764,517 | 6,254 | 2,261,530 | 626,818 | 921,704 | 477,036 | 4,650,634 | 5,802,422 | 2,035,125 | 8,943,600 | 4,062,327 | ' | 71,279,871 | 2,881,525 | 254,694 | ' | 731,888 | 6,135,670 | 8,790,288 | 4,856,379 | 1,050,000 | 1,525,337 | 176,666 | 731,888 | 889,001 | 130,246 | 452,888 | 494,982 | 731,888 | 774,084 | 521,945 | 731,888 | 209,197 | 6,413,635 | 704,263 | 976,439 | 920,000 | 231,821 | 1,468,342 | ' | 188,562 | 25,678,064 | 3,866,206 | 19,408,112 | 6,026,070 | 6,520,090 | 4,461,145 | 4,402,338 | 13,613,375 | 15,142,300 | 11,241,993 | 16,872,647 | 2,606,588 | 14,903,024 | 12,289,288 | 1,886,600 | 730,164 | 1,744,430 | 2,209,811 | 5,801,948 | 3,465,199 | 1,920,241 | ' | 683,820 | 2,923,585 | 3,160,203 | 484,828 | 1,374,880 | 500,422 | 7,943,925 | ' | 4,343,000 | 12,163,694 | 6,783,464 | 6,928,120 | 2,251,666 | 16,322,636 | 8,517,427 | 3,257,199 | 2,926,495 | 2,276,575 | 1,890,000 | 1,562,328 | 520,340 | 3,757,324 | 840,000 | 7,846,946 | 500,414 | 3,019,951 | 2,568,705 | 500,422 | 850,699 | 125,376 | 4,240,387 | 82,544 | 670,500 | 3,440,018 | 27,369,515 | 7,785,841 | 60,502,358 | 10,750,863 | 360,000 | 3,875,013 | 602,000 | 15,872,618 | 31,046,618 | 23,516,663 | 15,638,022 | 11,873,061 | 5,836,315 | 28,619,571 | 9,081,452 | 2,375,782 | 758,346 | 8,652,949 | 6,088,198 | 5,349,714 | 398,177 | 3,426,353 | 9,997,538 | 1,256,420 | 7,098,996 | 2,746,153 | 784,798 | 1,907,178 |
Building & Improvement | 7,023,144,173 | ' | ' | ' | 18,328,761 | 51,674,821 | 38,329,154 | 352,934 | 634,051 | 17,279,315 | 35,462,377 | 154,814,444 | 163,807 | 16,931,403 | 9,139,685 | 23,075,378 | 11,081,186 | 8,795,194 | 25,172,569 | 23,707,536 | 3,934,405 | 95,607 | 6,444,735 | 7,778,937 | 20,368,960 | 24,824,512 | 37,571,571 | 59,821,041 | 13,312,823 | 52,430,793 | 31,595,657 | 25,050,060 | 19,155,133 | 7,896,487 | 30,588,745 | 8,125,606 | 15,759,579 | 28,998,059 | 40,017,466 | 20,172,265 | 6,215,168 | 7,733,819 | 18,345,257 | 8,902,499 | 7,848,145 | 28,970,638 | 13,903,294 | 12,043,674 | 24,160,888 | 62,204,580 | 9,181,653 | 161,337,893 | 29,752,511 | 14,505,839 | 5,597,074 | 6,959,320 | 16,496,175 | 6,517,092 | 646,983 | 3,508,877 | 9,224,886 | 20,131,925 | 23,445,989 | 8,367,899 | 11,755,916 | 6,898,164 | 20,738,858 | 29,231,953 | 31,868,803 | 9,670,236 | 27,070,131 | 4,620,109 | 32,459,261 | 1,176,324 | 5,900,189 | ' | 3,920,608 | 13,003,658 | 6,692,908 | 7,073,997 | 14,373,592 | 5,527,809 | 30,098,139 | ' | 19,993,347 | 15,449,338 | 43,205,591 | 30,909,568 | 16,504,783 | 2,413,109 | 365,287 | 13,566,241 | 14,494,827 | 4,255,869 | ' | 4,420,332 | 2,256,272 | 1,253,410 | 15,006,621 | 8,844,263 | 19,711,207 | 4,516,814 | 28,903,785 | 11,293,306 | ' | 82,477,253 | 19,188,427 | 9,410,360 | 8,069,450 | 75,495,039 | 43,097,297 | 5,452,310 | 17,910,596 | 21,186,337 | 20,405,659 | 706,016 | 1,665,533 | 13,230,226 | 11,456,516 | 2,184,171 | 2,635,098 | 8,417,510 | 10,140,764 | 8,221,034 | 4,856,960 | 19,483,955 | 11,510,619 | 20,513,979 | 5,363,572 | 3,946,280 | 3,725,047 | 18,912,643 | 8,131,741 | 22,065,423 | 33,198,255 | 10,611,615 | 29,691,191 | 7,906,257 | 11,057,408 | 36,194,068 | 2,002,101 | 37,149,453 | 10,677,032 | 2,596,098 | 2,391,693 | 4,871,201 | 7,142,138 | 9,839,929 | 6,468,743 | 5,466,445 | 2,426,564 | 22,472,338 | 143,772 | 3,558,848 | 2,010,953 | 6,191,040 | 1,589,545 | 7,518,709 | 11,203,656 | 7,671,416 | 4,252,368 | 2,490,097 | 19,803,813 | ' | 12,951,263 | 28,479,434 | 2,712,438 | 10,588,911 | 5,901,565 | 2,918,315 | 4,921,945 | 704,011 | 458,846 | 9,365,115 | 11,977,320 | 7,484,850 | 512,674 | 11,069,916 | 2,221,723 | 9,136,303 | 1,274,324 | 35,263,669 | 25,309,991 | 3,160,646 | 7,821,966 | 1,267,258 | 6,475,686 | 1,990,776 | 12,745,538 | 22,487,632 | 3,870,390 | 25,252,599 | 17,511,786 | 15,156,323 | 1,260,000 | 4,260,966 | 10,990,568 | 8,139,998 | 3,339,160 | 9,754,083 | 10,329,586 | 11,195,557 | 4,557,934 | 15,796,752 | 362,371 | 135,963 | 11,768,485 | 19,868,075 | 8,863,942 | 7,018,079 | 19,364,472 | 2,997,183 | 1,535,531 | 866,973 | 13,316,046 | 7,756,823 | 12,769,628 | 5,284,577 | 39,702,549 | 102,642,337 | 813,688 | 221,621 | 1,716,083 | ' | 15,316,511 | 11,460,575 | 6,175,879 | 1,977,619 | 7,183,156 | ' | 2,120,751 | 1,985,081 | 2,468,471 | 6,232,642 | 17,050,278 | 1,543,518 | 76,785,684 | 9,716,703 | 6,175,312 | 234,378 | 9,391,143 | 8,709,897 | 23,403,532 | 3,246,167 | 4,016,082 | 15,799,857 | 758,855 | 18,479,532 | 8,600,328 | 550,204 | 7,083,545 | 5,669,023 | 6,606,420 | 2,909,942 | 14,277,382 | 2,769,212 | 34,754,129 | 17,249,587 | 5,989,696 | 10,302,143 | 4,041,213 | 11,409,881 | 7,331,413 | 5,833,626 | 9,648,846 | 12,827,640 | 15,003,340 | ' | 16,209,865 | 30,588,759 | 33,529,273 | 1,420,424 | 59,737 | 10,175,175 | 20,957,667 | 1,749,768 | 7,185,984 | 32,062,667 | 22,961,789 | 22,188,945 | 6,173,188 | 701,084 | 7,923,256 | 4,327,534 | 6,086,465 | 11,546,331 | 11,693,769 | 1,290,080 | 5,079,690 | 10,602,845 | 23,841,778 | ' | 48,572,894 | 42,173,801 | 5,837,674 | 9,780,303 | 34,124,438 | 16,103,106 | 3,122,241 | 2,765,892 | 31,127,912 | 13,132,269 | 40,027,186 | 20,097,718 | 4,867,051 | 21,701,339 | 5,454,347 | 6,372,353 | 29,399,748 | 40,486,755 | 28,480,839 | 2,268,768 | 8,149,781 | 15,036,930 | 3,565,350 | 32,623,837 | 3,597,527 | 28,547,883 | 17,886,100 | 5,049,463 | 10,357,187 | 1,193,084 | 15,598,504 | 6,352,194 | 2,935,006 | 9,284,031 | 9,548,102 | 5,964,896 | 33,344,389 | 1,253,803 | 2,288 | 2,332,813 | 16,949,360 | 2,002,095 | 48,191,559 | ' | 5,759,126 | 5,353,310 | 7,113,364 | 121,907 | 7,656,766 | 10,399,040 | 17,857,395 | 1,627,873 | 19,066,327 | 16,364,345 | 5,365,056 | 72,760,942 | 10,597,256 | 6,688,679 | 6,464,500 | 366,807 | 3,487,909 | 2,413,870 | 7,245,455 | 4,174,430 | 2,594,328 | ' | 3,747,045 | 519,865 | 3,966,688 | 19,472,547 | 12,985,941 | 3,459,618 | 17,342,240 | 969,618 | 30,120,271 | 170,445,458 | 11,679,391 | 911,903 | 3,316,655 | 4,218,793 | 15,946,154 | 26,722,967 | 30,225,855 | 3,806,999 | 7,305,169 | 4,895,360 | 2,927,551 | 5,837,616 | 1,905,599 | 10,634,601 | 1,967,677 | 2,927,551 | 6,373,649 | 3,253,862 | 2,927,551 | 1,389,731 | 15,452,652 | 2,408,109 | 15,661,524 | 15,551,078 | 6,477,040 | ' | 5,195,577 | 1,158,307 | 54,609,964 | 12,058,435 | 67,161,432 | 18,886,662 | 22,686,041 | 10,940,674 | 11,047,095 | 28,641,805 | 35,030,844 | 13,154,273 | 21,627,617 | 7,102,725 | 33,235,867 | 28,056,912 | 9,499,993 | 21,860,061 | 11,068,588 | 9,738,187 | 33,347,345 | 16,328,890 | 9,538,324 | 7,014,582 | 52,750 | 12,642,727 | 2,776,116 | 1,037,502 | 28,145,158 | 3,222,249 | 26,705,388 | 4,470,843 | 5,370,892 | 27,549,314 | 27,409,338 | 36,818,666 | 5,345,074 | 54,587,066 | 28,484,450 | 13,772,780 | 13,697,060 | 10,439,809 | 7,984,454 | 4,144,212 | 3,162,408 | 16,615,753 | 3,360,000 | ' | 2,830,835 | 7,632,363 | 6,813,716 | 2,326,878 | 4,302,401 | 5,120,708 | 39,382,461 | 2,569,889 | 2,751,375 | 8,976,794 | 48,331,240 | 18,377,386 | 93,688,190 | 34,796,091 | 900,000 | 32,320,372 | 14,995,287 | 52,217,399 | 60,991,008 | ' | 49,557,992 | 33,158,432 | 18,266,232 | 53,609,075 | 12,095,143 | 853,364 | 1,852,451 | 21,848,404 | 13,225,890 | 5,859,518 | 3,874,174 | 9,975,610 | 21,935,692 | ' | 14,502,798 | 485,458 | 2,056,485 | 65,127,204 |
Total | 9,123,343,869 | 8,947,286,646 | 8,771,256,852 | 8,587,378,001 | 25,268,351 | 54,981,600 | 53,905,019 | 3,736,905 | 7,420,492 | 25,325,992 | 41,522,396 | 155,122,436 | 163,807 | 21,032,420 | 11,155,411 | 27,653,247 | 13,531,527 | 10,023,194 | 30,835,123 | 27,568,808 | 14,973,877 | 4,234,367 | 8,872,200 | 11,055,888 | 25,364,599 | 30,698,908 | 44,032,314 | 73,182,006 | 18,920,060 | 72,316,892 | 41,583,309 | 34,777,506 | 23,479,133 | 11,174,777 | 37,477,425 | 12,240,469 | 25,019,357 | 30,098,059 | 52,917,466 | 27,420,078 | 8,767,168 | 10,934,335 | 22,937,622 | 14,225,099 | 10,814,163 | 44,270,638 | 16,551,406 | 16,721,688 | 38,069,451 | 102,413,263 | 11,321,653 | 177,512,199 | 37,048,157 | 16,700,302 | 6,745,391 | 8,459,888 | 21,428,865 | 7,940,353 | 808,150 | 4,314,714 | 10,478,382 | 23,445,020 | 28,783,070 | 10,378,418 | 15,270,753 | 8,424,740 | 30,521,627 | 35,037,922 | 39,573,771 | 11,923,314 | 34,224,716 | 5,831,857 | 42,628,133 | 4,200,699 | 5,900,189 | 425,000 | 4,654,483 | 15,904,658 | 7,402,908 | 8,722,997 | 19,689,547 | 6,535,691 | 44,356,899 | 150,000 | 26,785,847 | 16,587,554 | 76,430,897 | 38,109,618 | 19,085,599 | 2,706,795 | 365,287 | 16,398,537 | 16,269,270 | 6,862,115 | 601,052 | 4,420,332 | 2,622,165 | 1,783,980 | 15,739,535 | 9,982,345 | 22,659,737 | 5,527,814 | 44,266,012 | 18,223,162 | 1,275,593 | 108,640,233 | 30,080,358 | 12,400,000 | 10,482,379 | 75,495,039 | 52,220,055 | 6,032,341 | 19,890,596 | 28,884,537 | 26,251,998 | 1,660,892 | 12,182,033 | 18,745,491 | 14,221,469 | 2,184,171 | 2,890,059 | 9,817,035 | 12,250,441 | 9,501,474 | 6,400,000 | 24,704,400 | 13,702,951 | 25,581,013 | 7,389,995 | 5,200,000 | 4,275,943 | 35,422,643 | 9,614,305 | 26,955,286 | 51,358,779 | 15,055,763 | 38,569,458 | 10,270,105 | 13,109,678 | 49,597,331 | 2,502,626 | 38,664,369 | 12,397,362 | 3,096,623 | 2,391,693 | 5,371,726 | 16,801,302 | 11,899,837 | 7,274,264 | 6,627,640 | 2,926,986 | 23,951,554 | 239,419 | 3,558,848 | 2,241,472 | 7,201,414 | 1,769,814 | 9,912,603 | 13,714,111 | 8,483,194 | 4,753,295 | 2,490,097 | 19,803,813 | 1,900,000 | 13,451,685 | 33,738,976 | 4,602,757 | 11,606,256 | 7,031,199 | 2,918,315 | 5,591,428 | 704,011 | 546,844 | 10,895,225 | 13,504,508 | 7,484,850 | 765,396 | 15,652,921 | 3,011,852 | 11,764,742 | 1,456,287 | 42,047,596 | 30,115,856 | 3,510,055 | 9,623,788 | 1,450,721 | 7,661,593 | 2,395,994 | 14,296,617 | 26,301,505 | 5,100,000 | 34,817,243 | 21,190,060 | 21,498,219 | 1,800,000 | 6,057,938 | 15,576,894 | 11,435,633 | 4,400,000 | 10,505,207 | 11,613,754 | 15,387,709 | 6,487,336 | 18,373,824 | 445,338 | 174,742 | 16,365,685 | 23,005,703 | 13,692,715 | 7,262,969 | 23,830,472 | 3,346,745 | 1,810,110 | 1,170,885 | 16,655,355 | 8,792,182 | 16,623,727 | 7,563,754 | 47,033,744 | 145,913,128 | 1,048,787 | 278,749 | 2,119,916 | 1,250,000 | 16,941,282 | 13,760,625 | 6,339,620 | 2,037,068 | 8,281,582 | 101,424 | 2,299,536 | 2,376,581 | 2,635,177 | 7,684,039 | 20,732,756 | 2,426,114 | 105,370,979 | 11,392,370 | 7,136,126 | 234,378 | 11,122,443 | 10,645,277 | 23,403,532 | 3,820,944 | 4,467,237 | 16,832,270 | 1,190,814 | 21,383,554 | 9,506,001 | 550,204 | 7,892,632 | 5,669,023 | 6,606,420 | 2,909,942 | 15,841,076 | 2,769,212 | 44,905,010 | 25,526,087 | 6,908,948 | 10,302,143 | 4,809,077 | 13,553,576 | 11,150,000 | 7,844,351 | 11,531,646 | 15,806,173 | 26,981,040 | 519,395 | 21,679,674 | 42,214,560 | 38,738,158 | 3,778,060 | 395,973 | 13,237,943 | 27,279,590 | 2,200,000 | 7,726,651 | 35,853,987 | 31,844,793 | 25,337,660 | 7,607,924 | 1,045,968 | 10,340,839 | 4,327,534 | 6,738,588 | 19,077,040 | 15,190,442 | 1,675,840 | 6,598,620 | 13,773,310 | 33,176,789 | 5,006,054 | 59,397,517 | 58,711,357 | 6,149,058 | 9,780,303 | 37,329,416 | 19,954,945 | 3,572,241 | 3,222,931 | 39,824,490 | 13,733,924 | 55,347,622 | 24,750,915 | 6,008,251 | 28,927,702 | 8,036,255 | 8,582,354 | 40,955,815 | 41,986,755 | 30,339,028 | 2,832,865 | 10,893,601 | 19,451,396 | 4,837,619 | 44,983,458 | 8,406,349 | 34,528,014 | 24,600,764 | 8,679,463 | 13,368,845 | 5,327,357 | 19,674,907 | 7,430,734 | 14,545,006 | 10,779,135 | 13,090,841 | 8,436,728 | 45,712,719 | 1,253,803 | 1,487,819 | 3,389,522 | 20,226,613 | 3,671,248 | 51,663,498 | 950,000 | 7,631,139 | 7,234,126 | 11,263,364 | 3,629,313 | 11,184,766 | 10,662,733 | 18,733,943 | 1,734,528 | 21,346,327 | 19,512,770 | 10,965,800 | 101,484,478 | 15,155,848 | 9,292,000 | 8,242,274 | 2,607,925 | 4,359,886 | 3,196,329 | 7,880,683 | 4,938,947 | 2,600,582 | 2,261,530 | 4,373,862 | 1,441,569 | 4,443,724 | 24,123,181 | 18,788,363 | 5,494,742 | 26,285,840 | 5,031,945 | 30,120,271 | 241,725,329 | 14,560,916 | 1,166,598 | 3,316,655 | 4,950,681 | 22,081,824 | 35,513,255 | 35,082,234 | 4,856,999 | 8,830,506 | 5,072,026 | 3,659,439 | 6,726,617 | 2,035,844 | 11,087,489 | 2,462,660 | 3,659,439 | 7,147,733 | 3,775,807 | 3,659,439 | 1,598,928 | 21,866,287 | 3,112,372 | 16,637,964 | 16,471,078 | 6,708,861 | 1,468,342 | 5,195,577 | 1,346,869 | 80,288,028 | 15,924,642 | 86,569,544 | 24,912,732 | 29,206,131 | 15,401,819 | 15,449,433 | 42,255,180 | 50,173,144 | 24,396,267 | 38,500,264 | 9,709,313 | 48,138,891 | 40,346,199 | 11,386,593 | 22,590,225 | 12,813,018 | 11,947,998 | 39,149,293 | 19,794,089 | 11,458,564 | 7,014,582 | 736,571 | 15,566,312 | 5,936,320 | 1,522,330 | 29,520,038 | 3,722,671 | 34,649,313 | 4,470,843 | 9,713,892 | 39,713,008 | 34,192,802 | 43,746,787 | 7,596,740 | 70,909,702 | 37,001,877 | 17,029,979 | 16,623,554 | 12,716,384 | 9,874,454 | 5,706,540 | 3,682,747 | 20,373,077 | 4,200,000 | 7,846,946 | 3,331,249 | 10,652,313 | 9,382,421 | 2,827,300 | 5,153,100 | 5,246,084 | 43,622,847 | 2,652,432 | 3,421,875 | 12,416,812 | 75,700,755 | 26,163,228 | 154,190,548 | 45,546,954 | 1,260,000 | 36,195,384 | 15,597,287 | 68,090,017 | 92,037,626 | 23,516,663 | 65,196,014 | 45,031,493 | 24,102,547 | 82,228,646 | 21,176,595 | 3,229,145 | 2,610,797 | 30,501,353 | 19,314,089 | 11,209,232 | 4,272,351 | 13,401,964 | 31,933,230 | 1,256,420 | 21,601,794 | 3,231,611 | 2,841,283 | 67,034,382 |
Accumulated Depreciation | 1,878,680,836 | 1,745,461,577 | 1,693,089,989 | 1,549,380,256 | 5,298,822 | 4,370,189 | 3,847,084 | 16,488 | 32,005 | 8,896,882 | 5,383,952 | 34,101,738 | 50,350 | 6,957,858 | 3,297,611 | 6,540,439 | 4,704,745 | 2,368,679 | 1,997,069 | 2,050,620 | 184,842 | 4,957 | 738,163 | 798,710 | 8,225,601 | 9,621,069 | 12,963,207 | 24,088,642 | 5,392,054 | 15,887,947 | 6,562,580 | 6,812,566 | 2,516,334 | 2,490,567 | 11,945,216 | 2,544,322 | 3,387,210 | 12,017,348 | 12,124,327 | 6,642,547 | 679,877 | 2,624,746 | 7,418,952 | 1,603,403 | 2,533,784 | 13,301,671 | 619,876 | 3,478,764 | 762,646 | 4,532,733 | 4,911,520 | 34,685,238 | 1,606,492 | 4,859,184 | 2,202,945 | 2,980,655 | 140,769 | 2,757,381 | 264,026 | 1,469,180 | 2,941,824 | 1,212,213 | 1,560,382 | 675,979 | 322,265 | 2,662,424 | 1,835,409 | 9,661,746 | 12,631,026 | 4,884,227 | 1,254,760 | 219,625 | 2,213,758 | 77,491 | 3,301,414 | ' | 2,145,471 | 5,241,954 | 2,904,921 | 2,985,199 | 3,959,109 | 2,440,458 | 5,543,855 | ' | 3,615,645 | 1,652,430 | ' | 4,933,392 | 4,657,279 | 2,037,435 | 312,246 | 8,683,264 | 9,322,424 | 1,309,820 | ' | 2,992,521 | 1,892,172 | 187,815 | 8,186,878 | 5,464,317 | 8,450,959 | 1,814,676 | 4,758,535 | 1,459,674 | ' | 15,952,323 | 2,254,863 | 18,994 | 22,953 | 8,758,607 | 18,357,952 | 2,333,733 | 7,164,545 | 6,338,367 | 1,813,565 | 78,446 | 29,709 | 1,020,549 | 884,785 | 1,154,235 | 2,060,537 | 5,137,174 | 4,845,003 | 3,661,657 | 9,803 | 7,517,981 | 4,266,457 | 5,333,203 | 540,857 | 7,965 | 1,662,525 | 3,054,065 | 3,593,945 | 4,850,693 | 7,678,516 | 1,098,830 | ' | 132,913 | 5,412,858 | 10,198,595 | 919,769 | 2,985,788 | 3,656,823 | 1,167,606 | 923,005 | 3,250,919 | 403,662 | 3,882,795 | 4,302,303 | 2,137,694 | 1,087,158 | 5,854,832 | 81,600 | 1,501,984 | 868,425 | 2,262,425 | 527,848 | 473,379 | 4,390,270 | 2,644,188 | 2,998,023 | 981,835 | 5,278,481 | ' | 5,254,145 | 1,154,072 | 509,091 | 4,673,716 | 2,347,752 | 1,211,645 | 1,880,260 | 668,138 | 176,193 | 3,864,155 | 4,590,529 | 7,474,693 | 123,522 | 2,247,380 | 353,533 | 2,981,605 | 476,714 | 1,583,513 | 9,965,994 | 318,474 | 3,409,197 | 479,920 | 2,524,866 | 1,847,887 | 6,335,735 | 7,984,040 | 6,646 | 6,647,357 | 7,015,776 | 3,277,316 | 39,900 | 922,496 | 2,368,552 | 1,697,110 | 6,740 | 4,141,684 | 3,349,104 | 507,077 | 185,214 | 3,149,612 | 238,143 | 75,120 | 561,828 | 927,530 | 985,685 | 2,549,481 | 8,500,106 | 1,371,179 | 1,384,389 | 106,811 | 5,914,698 | 673,964 | 993,572 | 549,048 | 17,124,265 | 7,599,589 | 435,235 | 130,990 | 527,748 | ' | 5,742,173 | 5,115,995 | 829,157 | 597,598 | 3,642,670 | ' | 1,368,423 | 1,654,781 | 237,459 | 3,139,985 | 8,405,788 | 219,623 | 16,922,727 | 923,706 | 2,464,269 | 91,405 | 3,618,048 | 3,254,019 | 12,850,691 | 1,352,277 | 1,412,279 | 8,276,107 | 249,028 | 8,016,088 | 2,479,405 | 211,617 | 2,668,116 | 2,322,636 | 2,827,840 | 2,909,942 | 9,606,826 | 932,073 | 6,536,654 | 1,314,445 | 2,368,861 | 7,718,141 | 1,108,862 | 742,373 | 582,947 | 306,914 | 4,385,054 | 630,464 | 2,379,927 | ' | 3,928,625 | 7,002,268 | 15,590,232 | 373,347 | 2,977 | 2,149,323 | 1,937,329 | 148,839 | 3,303,419 | 3,367,808 | 4,873,038 | 9,708,375 | 1,628,494 | 66,213 | 6,440,845 | 1,927,099 | 2,673,685 | 2,054,430 | 45,335 | 5,001 | 19,693 | 41,106 | 3,887,377 | ' | 14,052,180 | 13,167,545 | 644,023 | 842,515 | 14,409,417 | 6,535,102 | 1,409,038 | 283,455 | 7,469,477 | 5,110,066 | 9,065,426 | 8,083,424 | 1,952,334 | 5,385,367 | 2,833,791 | 2,027,580 | 5,033,661 | 13,363,465 | 16,692,418 | 626,549 | 2,601,447 | 3,790,648 | 1,120,814 | 9,250,407 | 117,921 | 10,522,154 | 4,621,545 | 1,408,844 | 2,766,476 | 11,842 | 186,031 | 1,520,074 | 858,603 | 5,625,177 | 2,938,994 | 1,260,248 | 6,920,961 | 607,846 | 255 | 121,829 | 4,429,461 | 58,820 | 19,528,327 | ' | 1,651,576 | 1,691,291 | 1,565,324 | 560 | 1,225,873 | 5,480,157 | 9,011,531 | 1,021,748 | 9,850,673 | 5,266,811 | 391,991 | 20,981,887 | 3,145,930 | 187,335 | 1,913,958 | 26,952 | 1,866,286 | 363,719 | 4,779,973 | 3,673,675 | 2,060,839 | ' | 2,751,481 | ' | 1,513,239 | 8,725,344 | 3,629,603 | 1,166,308 | 4,985,765 | 34,358 | 6,749,117 | 39,447,816 | 4,216,794 | 92,297 | 1,190,595 | 2,423,676 | 2,574,211 | 4,970,713 | 1,604,676 | 3,038,380 | 1,315,317 | 1,757,309 | 1,301,134 | 2,420,697 | 221,534 | 7,824,684 | 593,957 | 1,301,134 | 4,400,501 | 2,962,536 | 1,301,134 | 163,185 | 2,651,582 | 156,595 | 8,837,089 | 7,166,892 | 2,865,440 | ' | 2,309,146 | 1,158,307 | 23,018,940 | 5,678,367 | 30,677,512 | 8,812,098 | 21,185,978 | 7,070,222 | 7,356,098 | 13,424,831 | 15,967,680 | 6,468,871 | 10,700,368 | 3,540,349 | 10,573,966 | 15,186,578 | 4,120,584 | 7,292,643 | 4,920,834 | 4,134,043 | 4,988,102 | 1,458,474 | 520,684 | 5,582,868 | 17,020 | 5,333,883 | 971,377 | 109,142 | 1,583,288 | 1,275,920 | 3,106,524 | 1,335,772 | 541,777 | 3,238,871 | 3,381,536 | 12,390,597 | 368,953 | ' | ' | 5,580,869 | 5,487,373 | 3,886,219 | 3,179,395 | 459,672 | 1,468,495 | 6,999,730 | 906,484 | ' | 1,246,719 | 2,164,900 | 445,106 | 934,745 | 2,046,540 | 1,348,964 | 3,251,553 | 798,703 | 1,311,843 | 2,264,879 | 11,426,111 | 5,439,154 | 2,975,325 | 2,049,215 | 33,234 | 1,897,248 | 9,032,858 | 17,510,234 | 4,482,036 | ' | 1,849,710 | 3,340,207 | 4,878,095 | 4,912,956 | 2,617,470 | ' | 781,148 | 5,262,617 | 996,168 | 842,139 | 2,469,131 | 6,783,319 | 2,541,559 | ' | 2,890,196 | ' | 156,476 | 35,636,515 |
Total Cost, Net of Accumulated Depreciation | 7,244,663,033 | 7,201,825,000 | ' | ' | 19,969,529 | 50,611,411 | 50,057,935 | 3,720,417 | 7,388,486 | 16,429,110 | 36,138,444 | 121,020,699 | 113,457 | 14,074,561 | 7,857,800 | 21,112,809 | 8,826,783 | 7,654,516 | 28,838,054 | 25,518,188 | 14,789,035 | 4,229,410 | 8,134,037 | 10,257,178 | 17,138,998 | 21,077,839 | 31,069,107 | 49,093,365 | 13,528,006 | 56,428,944 | 35,020,729 | 27,964,940 | 20,962,799 | 8,684,210 | 25,532,208 | 9,696,146 | 21,632,146 | 18,080,711 | 40,793,139 | 20,777,531 | 8,087,291 | 8,309,589 | 15,518,670 | 12,621,695 | 8,280,379 | 30,968,968 | 15,931,530 | 13,242,924 | 37,306,805 | 97,880,530 | 6,410,133 | 142,826,962 | 35,441,665 | 11,841,118 | 4,542,447 | 5,479,233 | 21,288,097 | 5,182,972 | 544,124 | 2,845,534 | 7,536,558 | 22,232,807 | 27,222,688 | 9,702,440 | 14,948,488 | 5,762,316 | 28,686,218 | 25,376,175 | 26,942,745 | 7,039,087 | 32,969,955 | 5,612,232 | 40,414,375 | 4,123,208 | 2,598,775 | 425,000 | 2,509,012 | 10,662,704 | 4,497,987 | 5,737,798 | 15,730,438 | 4,095,233 | 38,813,044 | 150,000 | 23,170,202 | 14,935,123 | 76,430,897 | 33,176,226 | 14,428,321 | 669,360 | 53,041 | 7,715,272 | 6,946,846 | 5,552,295 | 601,052 | 1,427,812 | 729,994 | 1,596,165 | 7,552,657 | 4,518,028 | 14,208,778 | 3,713,138 | 39,507,477 | 16,763,489 | 1,275,593 | 92,687,910 | 27,825,495 | 12,381,006 | 10,459,426 | 66,736,432 | 33,862,102 | 3,698,608 | 12,726,050 | 22,546,170 | 24,438,433 | 1,582,446 | 12,152,324 | 17,724,942 | 13,336,684 | 1,029,937 | 829,522 | 4,679,862 | 7,405,438 | 5,839,816 | 6,390,197 | 17,186,418 | 9,436,494 | 20,247,810 | 6,849,138 | 5,192,035 | 2,613,418 | 32,368,578 | 6,020,360 | 22,104,593 | 43,680,263 | 13,956,933 | 38,569,458 | 10,137,192 | 7,696,820 | 39,398,736 | 1,582,857 | 35,678,581 | 8,740,539 | 1,929,017 | 1,468,688 | 2,120,807 | 16,397,640 | 8,017,042 | 2,971,960 | 4,489,945 | 1,839,828 | 18,096,722 | 157,819 | 2,056,863 | 1,373,047 | 4,938,989 | 1,241,966 | 9,439,223 | 9,323,842 | 5,839,006 | 1,755,273 | 1,508,262 | 14,525,331 | 1,900,000 | 8,197,540 | 32,584,904 | 4,093,666 | 6,932,540 | 4,683,447 | 1,706,670 | 3,711,169 | 35,873 | 370,651 | 7,031,070 | 8,913,979 | 10,157 | 641,875 | 13,405,540 | 2,658,319 | 8,783,138 | 979,573 | 40,464,084 | 20,149,862 | 3,191,581 | 6,214,592 | 970,802 | 5,136,726 | 548,107 | 7,960,882 | 18,317,464 | 5,093,354 | 28,169,886 | 14,174,284 | 18,220,903 | 1,760,100 | 5,135,442 | 13,208,343 | 9,738,522 | 4,393,260 | 6,363,523 | 8,264,649 | 14,880,632 | 6,302,122 | 15,224,212 | 207,195 | 99,622 | 15,803,857 | 22,078,173 | 12,707,031 | 4,713,489 | 15,330,366 | 1,975,566 | 425,721 | 1,064,073 | 10,740,657 | 8,118,218 | 15,630,155 | 7,014,706 | 29,909,478 | 138,313,539 | 613,552 | 147,759 | 1,592,168 | 1,250,000 | 11,199,109 | 8,644,630 | 5,510,463 | 1,439,470 | 4,638,911 | 101,424 | 931,114 | 721,800 | 2,397,718 | 4,544,054 | 12,326,968 | 2,206,491 | 88,448,252 | 10,468,664 | 4,671,857 | 142,973 | 7,504,396 | 7,391,258 | 10,552,842 | 2,468,666 | 3,054,957 | 8,556,162 | 941,786 | 13,367,465 | 7,026,596 | 338,587 | 5,224,516 | 3,346,387 | 3,778,580 | ' | 6,234,250 | 1,837,139 | 38,368,356 | 24,211,642 | 4,540,086 | 2,584,002 | 3,700,214 | 12,811,203 | 10,567,053 | 7,537,437 | 7,146,592 | 15,175,710 | 24,601,113 | 519,395 | 17,751,048 | 35,212,292 | 23,147,925 | 3,404,713 | 392,995 | 11,088,621 | 25,342,261 | 2,051,161 | 4,423,232 | 32,486,179 | 26,971,755 | 15,629,285 | 5,979,430 | 979,754 | 3,899,993 | 2,400,435 | 4,064,903 | 17,022,609 | 15,145,107 | 1,670,839 | 6,578,927 | 13,732,204 | 29,289,412 | 5,006,054 | 45,345,338 | 45,543,811 | 5,505,034 | 8,937,788 | 22,919,999 | 13,419,843 | 2,163,203 | 2,939,476 | 32,355,014 | 8,623,858 | 46,282,195 | 16,667,491 | 4,055,917 | 23,542,335 | 5,202,464 | 6,554,774 | 35,922,154 | 28,623,291 | 13,646,610 | 2,206,316 | 8,292,154 | 15,660,748 | 3,716,805 | 35,733,051 | 8,288,428 | 24,005,859 | 19,979,219 | 7,270,620 | 10,602,370 | 5,315,515 | 19,488,876 | 5,910,660 | 13,686,403 | 5,153,959 | 10,151,847 | 7,176,480 | 38,791,758 | 645,957 | 1,487,564 | 3,267,693 | 15,797,152 | 3,612,428 | 32,135,171 | 950,000 | 5,979,563 | 5,542,835 | 9,698,039 | 3,628,753 | 9,958,892 | 5,182,576 | 9,722,413 | 712,780 | 11,495,654 | 14,245,959 | 10,573,809 | 80,502,591 | 12,009,918 | 9,104,665 | 6,328,317 | 2,580,973 | 2,493,600 | 2,832,611 | 3,100,710 | 1,265,272 | 539,743 | 2,261,530 | 1,622,381 | 1,441,569 | 2,930,486 | 15,397,837 | 15,158,760 | 4,328,434 | 21,300,075 | 4,997,587 | 23,371,153 | 202,277,513 | 10,344,122 | 1,074,301 | 2,126,061 | 2,527,005 | 19,507,612 | 30,542,543 | 33,477,558 | 1,818,619 | 7,515,189 | 3,314,717 | 2,358,305 | 4,305,920 | 1,814,310 | 3,262,805 | 1,868,703 | 2,358,305 | 2,747,232 | 813,271 | 2,358,305 | 1,435,744 | 19,214,705 | 2,955,777 | 7,800,875 | 9,304,186 | 3,843,421 | 1,468,342 | 2,886,431 | 188,562 | 57,269,088 | 10,246,275 | 55,892,031 | 16,100,634 | 8,020,153 | 8,331,597 | 8,093,335 | 28,830,349 | 34,205,465 | 17,927,395 | 27,799,897 | 6,168,964 | 37,564,925 | 25,159,621 | 7,266,008 | 15,297,582 | 7,892,184 | 7,813,955 | 34,161,191 | 18,335,615 | 10,937,880 | 1,431,714 | 719,551 | 10,232,429 | 4,964,942 | 1,413,187 | 27,936,750 | 2,446,751 | 31,542,789 | 3,135,070 | 9,172,115 | 36,474,137 | 30,811,266 | 31,356,190 | 7,227,787 | 70,909,702 | 37,001,877 | 11,449,110 | 11,136,181 | 8,830,165 | 6,695,059 | 5,246,868 | 2,214,253 | 13,373,347 | 3,293,516 | 7,846,946 | 2,084,530 | 8,487,413 | 8,937,316 | 1,892,555 | 3,106,560 | 3,897,120 | 40,371,295 | 1,853,729 | 2,110,032 | 10,151,933 | 64,274,644 | 20,724,074 | 151,215,222 | 43,497,739 | 1,226,766 | 34,298,137 | 6,564,429 | 50,579,783 | 87,555,590 | 23,516,663 | 63,346,304 | 41,691,287 | 19,224,453 | 77,315,691 | 18,559,126 | 3,229,145 | 1,829,649 | 25,238,735 | 18,317,920 | 10,367,093 | 1,803,220 | 6,618,644 | 29,391,670 | 1,256,420 | 18,711,598 | 3,231,611 | 2,684,807 | 31,397,866 |
Encumbrances | $1,035,353,602 | ' | ' | ' | $14,509,793 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,465,751 | ' | $15,880,204 | ' | ' | ' | ' | ' | ' | ' | ' | $8,500,000 | $32,874,346 | $24,182,986 | ' | ' | $6,809,417 | ' | $6,000,000 | ' | ' | ' | ' | ' | $6,554,863 | ' | ' | ' | ' | $14,286,874 | ' | $21,347,022 | ' | $3,052,866 | ' | ' | ' | ' | ' | $12,093,500 | ' | ' | ' | ' | ' | $20,300,535 | $6,047,869 | ' | ' | ' | ' | ' | ' | $19,597,806 | $1,735,472 | $36,469,045 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,067,224 | ' | ' | ' | ' | ' | ' | $24,968,949 | $7,989,708 | ' | ' | ' | ' | ' | ' | ' | $6,189,665 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15,412,434 | $29,624,159 | ' | ' | ' | ' | $28,383,188 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $32,098,597 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9,932,882 | ' | ' | ' | $20,964,079 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $18,600,000 | ' | $15,766,898 | ' | $4,537,575 | $12,493,908 | $8,674,954 | ' | ' | ' | $9,138,792 | ' | ' | ' | ' | ' | ' | ' | ' | $7,523,895 | ' | ' | ' | ' | $2,586,223 | $7,320,245 | $5,201,109 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,134,178 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,173,358 | ' | ' | ' | ' | ' | $8,797,971 | ' | $4,713,763 | ' | $24,934,203 | $17,333,585 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,879,586 | $18,621,703 | ' | ' | $26,670,758 | $10,547,632 | ' | ' | ' | ' | ' | ' | ' | ' | $2,571,708 | $3,391,336 | $13,773,674 | $9,338,603 | $33,186,972 | ' | ' | ' | ' | $12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,648,419 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,120,709 | $14,735,453 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,028,992 | ' | ' | ' | $13,618,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,950,795 | ' | ' | ' | ' | ' | ' | ' | $9,184,841 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9,698,220 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $29,450,689 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,109,387 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $56,969,809 | $32,030,743 | ' | $24,782,374 | ' | $14,201,702 | ' | ' | $41,570,764 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of Acquisition | ' | ' | ' | ' | 31-Dec-08 | ' | ' | ' | ' | 31-Dec-07 | 31-Dec-09 | ' | 31-Dec-11 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-97 | 31-Dec-09 | 31-Dec-11 | 31-Dec-11 | ' | ' | 31-Dec-12 | 31-Dec-11 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-08 | 31-Dec-06 | 31-Dec-08 | 31-Dec-07 | 31-Dec-09 | 31-Dec-08 | 31-Dec-98 | 31-Dec-10 | 31-Dec-09 | 31-Dec-06 | 31-Dec-05 | 31-Dec-05 | 31-Dec-09 | 31-Dec-08 | 31-Dec-98 | 31-Dec-09 | 31-Dec-05 | 31-Dec-05 | 31-Dec-13 | 31-Dec-07 | 31-Dec-12 | 31-Dec-13 | 31-Dec-06 | 31-Dec-02 | 31-Dec-12 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-13 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-00 | 31-Dec-12 | 31-Dec-11 | 31-Dec-11 | 31-Dec-13 | 31-Dec-98 | 31-Dec-11 | 31-Dec-98 | 31-Dec-98 | 31-Dec-93 | 31-Dec-12 | 31-Dec-12 | 31-Dec-13 | 31-Dec-03 | ' | 31-Dec-09 | 31-Dec-92 | 31-Dec-98 | 31-Dec-94 | 31-Dec-97 | 31-Dec-05 | ' | 31-Dec-09 | 31-Dec-13 | 31-Dec-09 | ' | ' | 31-Dec-10 | 31-Dec-01 | ' | ' | 31-Dec-92 | ' | 31-Dec-06 | 31-Dec-09 | ' | ' | 31-Dec-10 | 31-Dec-85 | 31-Dec-86 | 31-Dec-93 | 31-Dec-97 | 31-Dec-09 | ' | 31-Dec-07 | 31-Dec-07 | 31-Dec-11 | 31-Dec-13 | 31-Dec-13 | 31-Dec-08 | 31-Dec-98 | 31-Dec-96 | 31-Dec-97 | 31-Dec-09 | 31-Dec-11 | 31-Dec-07 | 31-Dec-12 | 31-Dec-11 | 31-Dec-09 | ' | 31-Dec-08 | 31-Dec-89 | 31-Dec-94 | 31-Dec-95 | 31-Dec-13 | 31-Dec-97 | 31-Dec-98 | 31-Dec-04 | 31-Dec-13 | 31-Dec-13 | 31-Dec-95 | 31-Dec-09 | 31-Dec-95 | 31-Dec-08 | 31-Dec-08 | 31-Dec-11 | 31-Dec-13 | 31-Dec-13 | 31-Dec-93 | 31-Dec-08 | 31-Dec-96 | ' | 31-Dec-99 | 31-Dec-96 | 31-Dec-97 | 31-Dec-96 | ' | 31-Dec-98 | ' | 31-Dec-98 | 31-Dec-96 | 31-Dec-97 | 31-Dec-97 | 31-Dec-97 | 31-Dec-98 | 31-Dec-97 | 31-Dec-98 | 31-Dec-08 | 31-Dec-99 | 31-Dec-97 | ' | 31-Dec-97 | 31-Dec-98 | 31-Dec-11 | 31-Dec-96 | 31-Dec-13 | 31-Dec-05 | 31-Dec-97 | 31-Dec-98 | 31-Dec-97 | 31-Dec-97 | 31-Dec-98 | 31-Dec-98 | 31-Dec-97 | 31-Dec-97 | 31-Dec-97 | 31-Dec-03 | 31-Dec-08 | 31-Dec-05 | 31-Dec-97 | 31-Dec-98 | 31-Dec-12 | 31-Dec-98 | 31-Dec-05 | ' | 31-Dec-98 | 31-Dec-98 | 31-Dec-76 | 31-Dec-93 | 31-Dec-97 | 31-Dec-13 | 31-Dec-08 | 31-Dec-97 | 31-Dec-10 | 31-Dec-12 | 31-Dec-10 | 31-Dec-10 | 31-Dec-10 | 31-Dec-13 | 31-Dec-94 | 31-Dec-00 | 31-Dec-13 | 31-Dec-12 | 31-Dec-02 | 31-Dec-03 | 31-Dec-03 | 31-Dec-11 | 31-Dec-13 | 31-Dec-03 | 31-Dec-99 | 31-Dec-08 | 31-Dec-95 | ' | 31-Dec-05 | 31-Dec-03 | 31-Dec-11 | 31-Dec-11 | 31-Dec-11 | 31-Dec-03 | 31-Dec-12 | 31-Dec-03 | 31-Dec-03 | 31-Dec-01 | 31-Dec-13 | 31-Dec-93 | 31-Dec-96 | 31-Dec-05 | 31-Dec-05 | 31-Dec-93 | 31-Dec-12 | ' | 31-Dec-85 | 31-Dec-05 | 31-Dec-93 | 31-Dec-93 | 31-Dec-05 | 31-Dec-06 | 31-Dec-05 | 31-Dec-98 | 31-Dec-97 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-97 | ' | 31-Dec-08 | 31-Dec-98 | 31-Dec-94 | 31-Dec-02 | 31-Dec-98 | 31-Dec-98 | 31-Dec-97 | 31-Dec-97 | 31-Dec-97 | 31-Dec-97 | 31-Dec-98 | ' | 31-Dec-12 | 31-Dec-08 | 31-Dec-86 | 31-Dec-00 | 31-Dec-11 | 31-Dec-12 | 31-Dec-12 | 31-Dec-96 | 31-Dec-12 | 31-Dec-11 | 31-Dec-03 | 31-Dec-08 | 31-Dec-07 | 31-Dec-93 | ' | ' | ' | 31-Dec-11 | 31-Dec-11 | ' | ' | 31-Dec-08 | 31-Dec-08 | 31-Dec-04 | 31-Dec-05 | ' | 31-Dec-96 | 31-Dec-96 | 31-Dec-11 | 31-Dec-13 | 31-Dec-13 | 31-Dec-13 | 31-Dec-13 | 31-Dec-08 | ' | 31-Dec-02 | 31-Dec-04 | 31-Dec-05 | 31-Dec-09 | 31-Dec-94 | 31-Dec-98 | 31-Dec-93 | 31-Dec-05 | 31-Dec-07 | 31-Dec-94 | 31-Dec-09 | 31-Dec-98 | 31-Dec-98 | 31-Dec-09 | 31-Dec-06 | 31-Dec-06 | 31-Dec-07 | 31-Dec-06 | ' | 31-Dec-03 | 31-Dec-04 | 31-Dec-04 | 31-Dec-04 | 31-Dec-06 | 31-Dec-12 | 31-Dec-98 | 31-Dec-06 | 31-Dec-07 | 31-Dec-04 | 31-Dec-13 | 31-Dec-13 | 31-Dec-04 | 31-Dec-07 | 31-Dec-89 | 31-Dec-04 | 31-Dec-11 | 31-Dec-07 | 31-Dec-07 | 31-Dec-07 | 31-Dec-12 | 31-Dec-03 | 31-Dec-12 | 31-Dec-99 | 31-Dec-12 | 31-Dec-04 | 31-Dec-04 | 31-Dec-07 | 31-Dec-07 | 31-Dec-09 | ' | ' | ' | 31-Dec-89 | 31-Dec-97 | 31-Dec-05 | 31-Dec-06 | 31-Dec-05 | 31-Dec-12 | 31-Dec-04 | 31-Dec-12 | 31-Dec-98 | 31-Dec-05 | 31-Dec-86 | 31-Dec-88 | 31-Dec-99 | 31-Dec-95 | 31-Dec-99 | ' | 31-Dec-97 | 31-Dec-98 | 31-Dec-09 | 31-Dec-09 | 31-Dec-09 | ' | 31-Dec-04 | 31-Dec-07 | 31-Dec-00 | 31-Dec-05 | 31-Dec-99 | 31-Dec-96 | 31-Dec-08 | ' | 31-Dec-12 | ' | 31-Dec-08 | 31-Dec-99 | 31-Dec-96 | 31-Dec-97 | 31-Dec-05 | 31-Dec-02 | ' | 31-Dec-96 | 31-Dec-84 | 31-Dec-86 | 31-Dec-96 | 31-Dec-05 | 31-Dec-10 | 31-Dec-07 | 31-Dec-86 | 31-Dec-83 | 31-Dec-96 | 31-Dec-86 | 31-Dec-96 | 31-Dec-86 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-06 | 31-Dec-98 | ' | 31-Dec-95 | 31-Dec-97 | 31-Dec-09 | 31-Dec-10 | 31-Dec-12 | ' | 31-Dec-00 | 31-Dec-08 | 31-Dec-97 | ' | 31-Dec-11 | 31-Dec-96 | ' | 31-Dec-97 | 31-Dec-11 | ' | ' | 31-Dec-98 | ' | 31-Dec-13 | 31-Dec-13 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-98 | 31-Dec-12 | 31-Dec-95 | 31-Dec-98 | 31-Dec-03 | ' | 31-Dec-96 | 31-Dec-08 | 31-Dec-12 | 31-Dec-96 | ' | 31-Dec-99 | 31-Dec-07 | 31-Dec-99 | 31-Dec-95 | 31-Dec-04 | 31-Dec-08 | 31-Dec-07 | 31-Dec-13 | 31-Dec-12 | 31-Dec-12 | 31-Dec-12 | 31-Dec-85 | 31-Dec-05 | 31-Dec-12 | 31-Dec-13 | ' | ' | 31-Dec-07 | ' | 31-Dec-07 | 31-Dec-07 | 31-Dec-07 | ' | 31-Dec-07 | ' | 31-Dec-08 | 31-Dec-06 | 31-Dec-07 | 31-Dec-09 | 31-Dec-07 | ' | ' | ' |
Date of Construction | ' | ' | ' | ' | ' | 31-Dec-06 | 31-Dec-07 | 31-Dec-04 | 31-Dec-08 | ' | ' | 31-Dec-05 | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-04 | 31-Dec-08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-79 | ' | ' | ' | ' | ' | ' | 31-Dec-71 | ' | ' | ' | 31-Dec-03 | 31-Dec-05 | ' | ' | 31-Dec-68 | 31-Dec-69 | ' | 31-Dec-74 | ' | ' | 31-Dec-68 | 31-Dec-68 | ' | ' | ' | ' | ' | ' | 31-Dec-05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-06 | ' | ' | ' | ' | 31-Dec-05 | ' | 31-Dec-72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-74 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-01 | 31-Dec-01 | 31-Dec-03 | ' | ' | 31-Dec-69 | 31-Dec-05 | ' | ' | ' | ' | 31-Dec-85 | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-69 | 31-Dec-72 | 31-Dec-90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-01 | ' | ' | ' | ' | ' | 31-Dec-06 | ' | ' | ' | ' | ' | ' | ' | 31-Dec-06 | ' | 31-Dec-73 | ' | ' | ' | ' | ' | ' | 31-Dec-00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-78 | ' | ' | ' | ' | ' | 31-Dec-78 | ' | ' | ' | 31-Dec-02 | ' | ' | 31-Dec-05 | ' | ' | 31-Dec-06 | 31-Dec-06 | ' | 31-Dec-03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-05 | ' | ' | ' | ' | 31-Dec-67 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-08 | 31-Dec-08 | ' | 31-Dec-06 | ' | ' | ' | 31-Dec-06 | ' | 31-Dec-06 | ' | ' | ' | ' | ' | 31-Dec-11 | 31-Dec-08 | ' |
Schedule_III_Real_Estate_and_A3
Schedule III - Real Estate and Accumulated Depreciation (Details) - Changes in Total Real Estate Assets and Accumulated Depreciation (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Changes in Total Real Estate Assets and Accumulated Depreciation [Abstract] | ' | ' | ' |
Balance, beginning of period | $8,947,286,646 | $8,771,256,852 | $8,587,378,001 |
Balance, end of period | 9,123,343,869 | 8,947,286,646 | 8,771,256,852 |
Balance, beginning of period | 1,745,461,577 | 1,693,089,989 | 1,549,380,256 |
Balance, end of period | 1,878,680,836 | 1,745,461,577 | 1,693,089,989 |
Acquisitions | 475,108,219 | 411,166,315 | 406,431,259 |
Improvements | 107,411,806 | 85,801,777 | 118,072,955 |
Transfers from (to) unconsolidated joint ventures | 317,995,154 | 212,231,319 | -49,812,485 |
Sales | -559,328,593 | -503,767,086 | -186,887,870 |
Assets held for sale | -77,664,078 | -9,845,065 | -4,503,823 |
Adjustment of fully depreciated asset | -4,780,841 | -21,711,782 | -27,412,282 |
Adjustment of property carrying values | -69,463,649 | -34,121,504 | -4,616,890 |
Change in exchange rate | -13,220,795 | 36,275,820 | -67,392,013 |
Depreciation for year | 243,011,431 | 248,426,786 | 237,782,626 |
Transfers (to) unconsolidated joint ventures | ' | -8,390,550 | -2,725,794 |
Sales | -96,915,316 | -161,515,292 | -59,086,170 |
Adjustment of fully depreciated asset | -4,780,841 | -21,711,782 | -27,412,282 |
Assets held for sale | -7,351,096 | -6,582,611 | -633,676 |
Change in exchange rate | ($744,919) | $2,145,037 | ($4,214,971) |
Schedule_IV_Mortgage_Loans_on_1
Schedule IV - Mortgage Loans on Real Estate (Details) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||||
Individually Less Than 3% [Member] | Individually Less Than 3% [Member] | Individually Less Than 3% [Member] | Individually Less Than 3% [Member] | Individually Less Than 3% [Member] | Individually Less Than 3% [Member] | Individually Less Than 3% [Member] | Mortgages [Member] | Other Loans on Real Estate [Member] | |||||
Mortgages [Member] | Other Loans on Real Estate [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||||||||
Mortgages [Member] | Mortgages [Member] | ||||||||||||
Schedule IV - Mortgage Loans on Real Estate (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Mortgage Loans on Real Estate, Federal Income Tax Basis (in Dollars) | $30,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Mortgage Loans on Real Estate, Number of Loans | 16 | ' | ' | 6 | ' | ' | ' | ' | ' | ' | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages (in Dollars) | $50,378,000 | [1] | ' | ' | ' | ' | $400,000 | ' | $1,500,000 | $49,778,000 | [1] | $600,000 | [1] |
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | ' | 6.88% | ' | ' | ' | ' | ' | ' | ' | ' | |||
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | |||
Mortgage Loans on Real Estate, Term | ' | ' | ' | ' | '11 years | ' | '17 years | ' | ' | ' | |||
' | ' | 2.28% | ' | ' | ' | ' | ' | ' | ' | [2] | |||
[1] | The instruments actual cash flows are denominated in U.S. dollars, Canadian Dollars and Mexican pesos as indicated by the geographic location above | ||||||||||||
[2] | Interest rate 2.28% |
Schedule_IV_Mortgage_Loans_on_2
Schedule IV - Mortgage Loans on Real Estate (Details) - Mortgage Loans on Real Estate (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | |
Participating Mortgage Loans [Line Items] | ' | |
Face Amount of Mortgages or Maximum Available Credit | $50,378 | [1] |
Carrying Amount of Mortgages | 30,243 | [1],[2] |
Borrower A [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 6.50% | |
Interest Payment Rates | 6.50% | |
Final Maturity Date | 4-Mar-33 | |
Face Amount of Mortgages or Maximum Available Credit | 5,014 | [1] |
Carrying Amount of Mortgages | 5,014 | [1],[2] |
Borrower B [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 7.57% | |
Interest Payment Rates | 7.57% | |
Final Maturity Date | 1-Jun-19 | |
Face Amount of Mortgages or Maximum Available Credit | 6,509 | [1] |
Carrying Amount of Mortgages | 3,556 | [1],[2] |
Borrower C [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 7.00% | |
Interest Payment Rates | 7.00% | |
Final Maturity Date | 28-Mar-18 | |
Face Amount of Mortgages or Maximum Available Credit | 3,513 | [1] |
Carrying Amount of Mortgages | 3,285 | [1],[2] |
Borrower D [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 10.00% | |
Interest Payment Rates | 10.00% | |
Final Maturity Date | 14-May-33 | |
Face Amount of Mortgages or Maximum Available Credit | 3,075 | [1] |
Carrying Amount of Mortgages | 3,075 | [1],[2] |
Borrower E [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 8.75% | |
Interest Payment Rates | 8.75% | |
Final Maturity Date | 16-May-14 | |
Face Amount of Mortgages or Maximum Available Credit | 13,000 | [1] |
Carrying Amount of Mortgages | 2,931 | [1],[2] |
Borrower F [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 7.57% | |
Interest Payment Rates | 7.57% | |
Final Maturity Date | 1-Jun-19 | |
Face Amount of Mortgages or Maximum Available Credit | 4,201 | [1] |
Carrying Amount of Mortgages | 2,504 | [1],[2] |
Borrower G [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 7.57% | |
Interest Payment Rates | 7.57% | |
Final Maturity Date | 1-Jun-19 | |
Face Amount of Mortgages or Maximum Available Credit | 3,966 | [1] |
Carrying Amount of Mortgages | 2,476 | [1],[2] |
Borrower H [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 7.57% | |
Interest Payment Rates | 7.57% | |
Final Maturity Date | 1-Jun-19 | |
Face Amount of Mortgages or Maximum Available Credit | 3,678 | [1] |
Carrying Amount of Mortgages | 2,293 | [1],[2] |
Borrower I [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | 6.00% | |
Interest Payment Rates | 6.00% | |
Final Maturity Date | 9-Dec-24 | |
Face Amount of Mortgages or Maximum Available Credit | 1,950 | [1] |
Carrying Amount of Mortgages | 1,950 | [1],[2] |
Individually Less Than 3% [Member] | Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | ' | [3] |
Interest Payment Rates | ' | [3] |
Final Maturity Date | NaN, NaN | [4] |
Face Amount of Mortgages or Maximum Available Credit | 4,872 | [1] |
Carrying Amount of Mortgages | 2,631 | [1],[2] |
Capitalized Loan Costs [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Face Amount of Mortgages or Maximum Available Credit | ' | [1] |
Carrying Amount of Mortgages | 13 | [1],[2] |
Mortgages [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Face Amount of Mortgages or Maximum Available Credit | 49,778 | [1] |
Carrying Amount of Mortgages | 29,715 | [1],[2] |
Other Loans on Real Estate [Member] | ' | |
Participating Mortgage Loans [Line Items] | ' | |
Interest Accrual Rates | ' | [5] |
Interest Payment Rates | ' | [5] |
Final Maturity Date | NaN, NaN | [6] |
Face Amount of Mortgages or Maximum Available Credit | 600 | [1] |
Carrying Amount of Mortgages | $515 | [1],[2] |
[1] | The instruments actual cash flows are denominated in U.S. dollars, Canadian Dollars and Mexican pesos as indicated by the geographic location above | |
[2] | The aggregate cost for Federal income tax purposes is $30.2 million | |
[3] | Interest rates range from 6.88% to 10.00% | |
[4] | Maturity dates range from 11 months to 17 years | |
[5] | Interest rate 2.28% | |
[6] | Maturity date 4/1/2027 |