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Consolidated Statements Of Income (Loss) And Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Property revenues      
Rental revenues $ 563,010 $ 516,908 $ 519,637
Other property revenues 92,858 84,542 83,011
Total property revenues 655,868 [1] 601,450 [1] 602,648
Property expenses      
Property operating and maintenance 187,587 175,926 168,773
Real estate taxes 69,092 66,986 68,826
Total property expenses 256,679 242,912 237,599
Non-property income      
Fee and asset management 9,973 8,172 8,008
Interest and other income 4,649 8,584 2,826
Income on deferred compensation plans 6,773 11,581 14,609
Total non-property income 21,395 28,337 25,443
Other expenses      
Property management 20,686 19,982 18,864
Fee and asset management 5,935 4,841 4,878
General and administrative 35,456 30,762 31,243
Interest 112,414 125,893 128,296
Depreciation and amortization 179,867 170,362 168,845
Amortization of deferred financing costs 5,877 4,102 3,925
Expense on deferred compensation plans 6,773 11,581 14,609
Total other expenses 367,008 367,523 370,660
Loss on discontinuation of hedging relationship (29,791)    
Gain on sale of properties, including land 4,748 236  
Gain on sale of unconsolidated joint venture interests 1,136    
Loss on early retirement of debt     (2,550)
Impairment associated with land development activities     (85,614)
Impairment provision on a technology investment   (1,000)  
Equity in income (loss) of joint ventures 5,679 [2] (839) [2] 695 [2]
Income (loss) from continuing operations before income taxes 35,348 17,749 (67,637)
Income tax expense - current (2,220) (1,581) (967)
Income (loss) from continuing operations 33,128 16,168 (68,604)
Income from discontinued operations 2,212 5,360 7,514
Gain on sale of discontinued operations, net of tax 24,621 9,614 16,887
Net income (loss) 59,961 31,142 (44,203)
Less (income) loss allocated to noncontrolling interests from continuing operations (3,582) (926) 403
Less income allocated to perpetual preferred units (7,000) (7,000) (7,000)
Net income (loss) attributable to common shareholders 49,379 [1] 23,216 [1] (50,800)
Earnings per share - basic      
Income (loss) from continuing operations attributable to common shareholders $ 0.30 $ 0.11 $ (1.19)
Income from discontinued operations, including gain on sale, attributable to common shareholders $ 0.37 $ 0.22 $ 0.39
Net income (loss) attributable to common shareholders $ 0.67 [1] $ 0.33 [1] $ (0.80)
Earnings per share - diluted      
Income (loss) from continuing operations attributable to common shareholders $ 0.30 $ 0.11 $ (1.19)
Income from discontinued operations, including gain on sale, attributable to common shareholders - per share $ 0.36 $ 0.22 $ 0.39
Net income (loss) attributable to common shareholders $ 0.66 [1] $ 0.33 [1] $ (0.80)
Weighted average number of common shares outstanding - basic 72,756 68,608 62,359
Weighted average number of common shares outstanding - diluted 73,701 68,957 62,359
Net income (loss) attributable to common shareholders      
Income (loss) from continuing operations 33,128 16,168 (68,604)
Less (income) loss allocated to noncontrolling interests from continuing operations (3,582) (926) 403
Less income allocated to perpetual preferred units (7,000) (7,000) (7,000)
Income (loss) from continuing operations attributable to common shareholders 22,546 8,242 (75,201)
Income from discontinued operations, including gain on sale, attributable to common shareholders 26,833 14,974 24,401
Net income (loss) attributable to common shareholders 49,379 [1] 23,216 [1] (50,800)
Consolidated Statements of Comprehensive Income (Loss)      
Net income (loss) 59,961 31,142 (44,203)
Other comprehensive income (loss)      
Unrealized loss on cash flow hedging activities (2,692) (19,059) (12,291)
Reclassification of net losses on cash flow hedging activities 39,657 23,385 22,192
Unrealized gain on available-for-sale securities, net of tax   3,306  
Reclassification of gain on available-for-sale investment to earnings, net of tax (3,306)    
Unrealized gain (loss) and unamortized prior service cost on postretirement obligations (884) 65  
Comprehensive income (loss) 92,736 38,839 (34,302)
Less (income) loss allocated to noncontrolling interests from continuing operations (3,582) (926) 403
Less income allocated to perpetual preferred units (7,000) (7,000) (7,000)
Comprehensive income (loss) attributable to common shareholders $ 82,154 $ 30,913 $ (40,899)
[1] Net income per share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income (loss) per share amounts may not equal the total computed for the year.
[2] Equity in income (loss) of unconsolidated joint ventures excludes our ownership interest of fee income from various property management services and interest income from mezzanine loans with our joint ventures.