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Note 22 - Income Taxes - GAAP Net Income/(Loss) to Taxable Income Reconciliation (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

GAAP net income

$ 78,273

$ (43,545)

$ 203,409

$ 140,713

$ 379,201

$ 77,572

$ 127,000

$ 310,342

$ 378,850

$ 894,115

$ 424,001

Net book depreciation in excess of tax depreciation

73,409

21,515

24,890

Capitalized leasing/legal commissions

(11,894)

(14,246)

(13,576)

Deferred/prepaid/above-market and below-market rents, net

(35,230)

(32,848)

(17,967)

Fair market value debt amortization

(15,953)

(19,723)

(6,236)

Book/tax differences from investments in real estate joint ventures

(4,205)

(294)

8,614

Book/tax difference on sale of properties

(75,445)

(64,270)

(146,173)

Foreign income tax from capital gains

5,873

Cumulative foreign currency translation adjustment & deferred tax adjustment

3,267

139,976

Book adjustment to property carrying values and marketable equity securities

29,042

4,484

62,817

Taxable currency exchange loss, net

(6,775)

(47,297)

(100,602)

Tangible property regulations deduction (b)

^[1]

(58,000)

(126,957)

Dividends from taxable REIT subsidiaries

647

67,590

GAAP change in control gain

(57,386)

(149,407)

(107,235)

Valuation allowance against net deferred tax assets (see discussion below)

40,097

Other book/tax differences, net

(9,505)

(3,618)

(16,100)

Adjusted REIT taxable income

236,895

454,021

300,667

Restricted Stock [Member]

Sharebased Compensation

(4,490)

(3,094)

(1,078)

Employee Stock Option [Member]

Sharebased Compensation

(11,301)

(4,786)

(5,144)

GAAP Net Loss/(Income) of Taxable REIT Subsidiaries [Member]

GAAP net loss/(income) of taxable REIT Subsidiaries

2,414

(6,073)

(13,110)

GAAP Net Income From REIT Operations [Member]

GAAP net income

^[2]

$ 381,264

$ 888,042

$ 410,891

[1]

In September 2013, the Internal Revenue Service released final Regulations governing when taxpayers like the Company must capitalize and depreciate costs for acquiring, maintaining, repairing and replacing tangible property and when taxpayers can deduct such costs. These Regulations permitted the Company to deduct certain types of expenditures that were previously required to be capitalized. The Regulations also allowed the Company to make a one-time election to immediately deduct certain amounts that were capitalized in previous years that are not required to be capitalized under the new Regulations. The Company elected to take its one-time allowable deduction in 2015, which totaled approximately $85.9 million.

[2]

All adjustments to "GAAP net income from REIT operations" are net of amounts attributable to noncontrolling interest and taxable REIT subsidiaries.

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