v3.8.0.1

Business Segments (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Segment Reporting, Reconciliation of Revenues, Operating Income and Assets

The following reconciliations are presented in thousands:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
			2017				2016				2017				2016
Revenues:
Real estate operations segment:
U.S.		$	478,718			$	512,759			$	1,532,706			$	1,525,623
Other Americas			23,157				15,598				54,690				44,616
Europe			16,369				18,967				56,676				54,975
Asia			16,588				14,660				48,399				40,687
Total real estate operations segment			534,832				561,984				1,692,471				1,665,901
Strategic capital segment:
U.S.			17,340				9,940				159,925				28,876
Other Americas			6,061				5,805				21,976				16,884
Europe			26,289				113,577				78,524				161,686
Asia			18,352				13,259				45,316				39,673
Total strategic capital segment			68,042				142,581				305,741				247,119
Total revenues			602,874				704,565				1,998,212				1,913,020
Segment net operating income:
Real estate operations segment:
U.S.			363,802				385,837				1,144,176				1,131,340
Other Americas			16,037				10,417				36,403				29,127
Europe			11,454				13,787				40,713				40,420
Asia			11,711				7,650				33,386				24,830
Total real estate operations segment			403,004				417,691				1,254,678				1,225,717
Strategic capital segment:
U.S.			1,645				(577	)			103,252				1,959
Other Americas			3,934				2,975				14,666				9,163
Europe			16,497				91,390				49,229				125,460
Asia			9,970				4,169				18,813				12,754
Total strategic capital segment			32,046				97,957				185,960				149,336
Total segment net operating income			435,050				515,648				1,440,638				1,375,053
Reconciling items:
General and administrative expenses			57,656				58,157				171,350				165,634
Depreciation and amortization expenses			201,903				224,867				656,639				705,249
Operating income			175,491				232,624				612,649				504,170
Earnings from unconsolidated entities, net			55,066				45,857				172,267				145,622
Interest expense			(64,190	)			(75,310	)			(212,456	)			(232,577	)
Interest and other income, net			4,816				2,932				9,493				7,051
Gains on dispositions of investments in real estate and revaluation of      equity investments upon acquisition of a controlling interest, net			779,053				117,296				959,384				461,963
Foreign currency and derivative losses, net			(18,872	)			(1,730	)			(46,327	)			(26,277	)
Gains (losses) on early extinguishment of debt, net			-				1,492				(30,596	)			2,484
Earnings before income taxes		$	931,364			$	323,161			$	1,464,414			$	862,436

		September 30,				December 31,
			2017				2016
Assets:
Real estate operations segment:
U.S.		$	19,199,770			$	21,286,422
Other Americas			1,857,678				978,476
Europe			1,058,894				1,346,589
Asia			1,008,217				936,462
Total real estate operations segment			23,124,559				24,547,949
Strategic capital segment:
U.S.			17,136				18,090
Europe			44,990				47,635
Asia			748				1,301
Total strategic capital segment			62,874				67,026
Total segment assets			23,187,433				24,614,975
Reconciling items:
Investments in and advances to unconsolidated entities			5,371,758				4,230,429
Assets held for sale or contribution			321,905				322,139
Notes receivable backed by real estate			-				32,100
Cash and cash equivalents			568,726				807,316
Other assets			204,328				242,973
Total reconciling items			6,466,717				5,634,957
Total assets		$	29,654,150			$	30,249,932

X

- 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 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

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=68060357&loc=d3e8813-108599

Reference 3: 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=68060357&loc=d3e8721-108599

Reference 4: 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 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=68060357&loc=d3e8736-108599

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- References

No definition available.

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