Assets Held for Sale and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2011

Assets Held for Sale and Discontinued Operations [Abstract]

Summary of amounts included in Assets Held for Sale


	2011		2010
Assets held for sale:
Investments in properties	$	389,847	$	531,691
Investments in and advances to unconsolidated investees		-		20,624
Accounts receivable		-		7,204
Notes receivable backed by real estate		-		3,716
Other assets		55,003		11,556

Total assets	$	444,850	$	574,791

Liabilities related to assets held for sale:
Assessment bonds payable	$	-	$	3,884
Accounts payable, accrued expenses and other liabilities		20,992		15,865

Total liabilities	$	20,992	$	19,749

Income attributable to discontinued operations


	2011		2010		2009
Revenues:
Rental income	$	59,583	$	180,629	$	248,603

Expenses:
Rental expenses		(12,564)		(48,568)		(70,289)
Depreciation and amortization		(18,561)		(47,626)		(62,962)
Interest Expense		(551)		-		(537)

Total expenses		(31,676)		(96,194)		(133,788)

Operating income		27,907		84,435		114,815
Total other income (expense)		-		-		(432)
Net loss attributable to noncontrolling interest		-		-		(144)

Income attributable to disposed properties and assets held for sale		27,907		84,435		114,239
Net gain related to sale of China operations		-		-		3,315
Net gains on dispositions, net of related impairment charges		61,830		238,302		261,464
Income tax on dispositions		(3,216)		(3,728)		-

Total discontinued operations	$	86,521	$	319,009	$	379,018

Number of properties, proceeds and gains from dispositions, including minor adjustments


	2011		2010		2009
Number of properties		94		205		140
Net proceeds from dispositions	$	931,443	$	1,065,239	$	845,186
Net gains from dispositions, net of related impairment charges and taxes	$	58,614	$	234,574	$	261,464

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details