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Property Acquisitions, Discontinued Operations, And Assets Held For Sale (Tables) | 6 Months Ended
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Jun. 30, 2012
Property Acquisitions, Discontinued Operations, And Assets Held For Sale [Abstract] |
Selected data regarding acquisition | Selected data regarding this acquisition is presented below (in millions):
Cash consideration |  | $ | 99.5 |
Fair value of our 20% ownership interest held before the acquisition |  | 24.9 |
Debt assumed |  | 272.6 |
Net other assets/liabilities acquired |  | 1.1 |
Acquisition date fair value |  | $ | 398.1 |
Fair values of the assets acquired and liabilities assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed for the acquisitions of the twelve joint ventures and one operating property described above as of the respective acquisition/consolidation dates (in millions):
Assets acquired: |
| Buildings and improvements | $ | 353.9 |
| Land | 108.7 |
| Cash | 3.4 |
| Restricted cash | 0.7 |
| Intangible and other assets | 12.1 |
Total assets acquired | $ | 478.8 |
Liabilities assumed: |
| Mortgage debt (1) | $ | 272.6 |
| Other liabilities | 5.5 |
Total liabilities assumed | $ | 278.1 |
| Net assets acquired | $ | 200.7 |
(1) Mortgage debt assumed was subsequently repaid in January 2012 at face value.
Unaudited pro forma summary for consolidated information | The following unaudited pro forma summary presents consolidated information assuming the acquisitions/consolidation of the twelve former joint ventures and one operating property described above had occurred on January 1, 2011. The information for the three and six months ended June 30, 2012, includes pro forma results for the portion of the period prior to the respective acquisition/consolidation dates and actual results from the respective dates of acquisition/consolidation through the end of the period.
| Pro Forma Three Months Ended June 30, |  | Pro Forma Six Months Ended June 30,
(in thousands) | 2012 |  | 2011 |  | 2012 |  | 2011
| (unaudited)
Property revenues | $ | 187,884 |  |  | $ | 174,260 |  |  | $ | 371,315 |  |  | $ | 344,464 |
Property expenses | 71,234 |  |  | 69,623 |  |  | 140,751 |  |  | 137,521 |
| $ | 116,650 |  |  | $ | 104,637 |  |  | $ | 230,564 |  |  | $ | 206,943 |
Summary of income from discontinued operations | The following is a summary of income from discontinued operations for the three and six months ended June 30, 2012 and 2011:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2012 |  | 2011 |  | 2012 |  | 2011
Property revenues | $ | — |  |  | $ | 3,704 |  |  | $ | 1,209 |  |  | $ | 7,249 |
Property expenses | — |  |  | 1,832 |  |  | 670 |  |  | 3,614 |
| — |  |  | 1,872 |  |  | 539 |  |  | 3,635 |
Depreciation and amortization | — |  |  | 977 |  |  | 186 |  |  | 1,948 |
Income from discontinued operations | $ | — |  |  | $ | 895 |  |  | $ | 353 |  |  | $ | 1,687 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 54 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 55 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 68 -Subparagraph r(2, 3) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43, 44, 45, 47, 48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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