v2.4.1.9

Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets | The following reconciliations are presented in thousands:
|  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Revenues (1): |  |  |  |  |  |  |  |  |  |  |  |
Real estate operations: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,403,564 |  |  | $ | 1,288,925 |  |  | $ | 1,176,920 |
Europe |  |  | 74,413 |  |  |  | 174,397 |  |  |  | 435,244 |
Asia |  |  | 62,939 |  |  |  | 107,692 |  |  |  | 221,575 |
Total Real Estate Operations segment |  |  | 1,540,916 |  |  |  | 1,571,014 |  |  |  | 1,833,739 |
Strategic capital: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  |  | 95,168 |  |  |  | 72,474 |  |  |  | 69,422 |
Europe |  |  | 86,549 |  |  |  | 63,794 |  |  |  | 37,047 |
Asia |  |  | 38,154 |  |  |  | 43,204 |  |  |  | 20,310 |
Total Strategic Capital segment |  |  | 219,871 |  |  |  | 179,472 |  |  |  | 126,779 |
Total revenues |  | $ | 1,760,787 |  |  | $ | 1,750,486 |  |  | $ | 1,960,518 |
Net operating income: |  |  |  |  |  |  |  |  |  |  |  |
Real estate operations: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,000,773 |  |  | $ | 899,053 |  |  | $ | 818,393 |
Europe |  |  | 40,627 |  |  |  | 116,178 |  |  |  | 325,571 |
Asia |  |  | 45,262 |  |  |  | 76,863 |  |  |  | 171,980 |
Total Real Estate Operations segment |  |  | 1,086,662 |  |  |  | 1,092,094 |  |  |  | 1,315,944 |
Strategic capital: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  |  | 42,042 |  |  |  | 18,785 |  |  |  | 31,637 |
Europe |  |  | 57,266 |  |  |  | 41,263 |  |  |  | 21,699 |
Asia |  |  | 24,067 |  |  |  | 30,145 |  |  |  | 9,623 |
Total Strategic Capital segment |  |  | 123,375 |  |  |  | 90,193 |  |  |  | 62,959 |
Total segment net operating income |  |  | 1,210,037 |  |  |  | 1,182,287 |  |  |  | 1,378,903 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | (247,768) |  |  |  | (229,207) |  |  |  | (228,068) |
Depreciation and amortization |  |  | (642,461) |  |  |  | (648,668) |  |  |  | (724,262) |
Merger, acquisition and other integration expenses |  |  | - |  |  |  | - |  |  |  | (80,676) |
Impairment of real estate properties |  |  | - |  |  |  | - |  |  |  | (252,914) |
Earnings from unconsolidated entities, net |  |  | 134,288 |  |  |  | 97,220 |  |  |  | 31,676 |
Interest expense |  |  | (308,885) |  |  |  | (379,327) |  |  |  | (505,215) |
Interest and other income, net |  |  | 25,768 |  |  |  | 26,948 |  |  |  | 22,878 |
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net |  |  | 725,790 |  |  |  | 597,656 |  |  |  | 305,607 |
Foreign currency and derivative losses and related amortization, net |  |  | (17,841) |  |  |  | (33,633) |  |  |  | (20,497) |
Losses on early extinguishment of debt, net |  |  | (165,300) |  |  |  | (277,014) |  |  |  | (14,114) |
Impairment of other assets |  |  | - |  |  |  | - |  |  |  | (16,135) |
Total reconciling items |  |  | (496,409) |  |  |  | (846,025) |  |  |  | (1,481,720) |
Earnings (loss) before income taxes |  | $ | 713,628 |  |  | $ | 336,262 |  |  | $ | (102,817) |
|  | December 31, |
|  | 2014 |  |  | 2013 |
Assets (2): |  |  |  |  |  |  |  |
Real estate operations: |  |  |  |  |  |  |  |
Americas |  | $ | 17,432,909 |  |  | $ | 16,272,868 |
Europe |  |  | 1,820,529 |  |  |  | 1,634,867 |
Asia |  |  | 926,645 |  |  |  | 1,176,774 |
Total Real Estate Operations segment |  |  | 20,180,083 |  |  |  | 19,084,509 |
Strategic capital (3): |  |  |  |  |  |  |  |
Americas |  |  | 20,635 |  |  |  | 22,154 |
Europe |  |  | 54,577 |  |  |  | 60,327 |
Asia |  |  | 2,718 |  |  |  | 3,634 |
Total Strategic Capital segment |  |  | 77,930 |  |  |  | 86,115 |
Total segment assets |  |  | 20,258,013 |  |  |  | 19,170,624 |
Reconciling items: |  |  |  |  |  |  |  |
Investments in and advances to unconsolidated entities |  |  | 4,824,724 |  |  |  | 4,430,239 |
Assets held for sale |  |  | 43,934 |  |  |  | 4,042 |
Notes receivable backed by real estate |  |  | - |  |  |  | 188,000 |
Cash and cash equivalents |  |  | 350,692 |  |  |  | 491,129 |
Other assets |  |  | 340,860 |  |  |  | 288,273 |
Total reconciling items |  |  | 5,560,210 |  |  |  | 5,401,683 |
Total assets |  | $ | 25,818,223 |  |  | $ | 24,572,307 |
(1) | Includes revenues attributable to the United States for the years ended December 31, 2014, 2013 and 2012 of $1.4 billion, $1.1 billion and $1.1 billion, respectively.
(2) | Includes long-lived assets attributable to the United States at December 31, 2014 and 2013 of $17.3 billion and $15.3 billion, respectively.
(3) | Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital segment. Goodwill was $25.3 million at December 31, 2014 and 2013.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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