XML 73 R26.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Disclosures About Fair Value of Financial Instruments | 3 Months Ended
--- | ---
Mar. 31, 2014
Disclosures About Fair Value of Financial Instruments |
Disclosures About Fair Value of Financial Instruments | (18) Disclosures About Fair Value of Financial Instruments The carrying values of cash and cash equivalents, restricted cash, accounts receivable, and accounts payable and accrued liabilities are reasonable estimates of fair value because of the short-term maturities of these instruments. The fair values of loans receivable, CMBS, bank line of credit, term loan, mortgage debt and other debt are based on rates currently prevailing for similar instruments with similar maturities. The fair values of interest-rate and currency swap contracts as well as common stock warrants are determined based on observable and unobservable market assumptions using standardized pricing models. The fair values of senior unsecured notes and marketable equity and debt securities, excluding CMBS, are determined utilizing market quotes. The table below summarizes the carrying values and fair values of the Company’s financial instruments (in thousands):
|  | March 31, 2014 |  | December 31, 2013 |
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value |
Loans receivable, net(2) |  | $ | 371,172 |  | $ | 378,380 |  | $ | 366,001 |  | $ | 373,441 |
Marketable debt securities(1) |  | 245,649 |  | 283,335 |  | 244,089 |  | 280,850 |
Marketable equity securities(1) |  | 35 |  | 35 |  | — |  | — |
Warrants(3) |  | 167 |  | 167 |  | 114 |  | 114 |
Term loan(2) |  | 228,269 |  | 228,269 |  | 226,858 |  | 226,858 |
Senior unsecured notes(1) |  | 6,912,812 |  | 7,475,065 |  | 6,963,375 |  | 7,405,817 |
Mortgage debt(2) |  | 1,235,169 |  | 1,259,067 |  | 1,396,485 |  | 1,421,214 |
Other debt(2) |  | 74,097 |  | 74,097 |  | 74,909 |  | 74,909 |
Interest-rate swap assets(2) |  | 2,035 |  | 2,035 |  | 2,325 |  | 2,325 |
Interest-rate swap liabilities(2) |  | (8,292 | ) | (8,292 | ) | 8,384 |  | 8,384 |
Currency swap liabilities(2) |  | (3,254 | ) | (3,254 | ) | 2,756 |  | 2,756 |
(1) Level 1: Fair value calculated based on quoted prices in active markets. (2) Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing standardized pricing models in which significant inputs or value drivers are observable in active markets. (3) Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.

X
- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration