XML 101 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies:
 12 Months Ended
Dec. 31, 2011
Commitments and Contingencies:  
Commitments and Contingencies:

19. Commitments and Contingencies:

        The Company has certain properties subject to non-cancelable operating ground leases. The leases expire at various times through 2107, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. Ground rent expenses were $8,607, $6,494 and $7,818 for the years ended December 31, 2011, 2010 and 2009, respectively. No contingent rent was incurred for the years ended December 31, 2011, 2010 or 2009.

        Minimum future rental payments required under the leases are as follows:

Year Ending December 31,
   
  

2012

   $ 14,641  

2013

     14,774  

2014

     13,584  

2015

     12,441  

2016

     12,475  

Thereafter

     778,808  
       

 

   $ 846,723  
       

        As of December 31, 2011 and 2010, the Company was contingently liable for $19,721 in letters of credit guaranteeing performance by the Company of certain obligations relating to the Centers. The Company does not believe that these letters of credit will result in a liability to the Company.

        The Company has entered into a number of construction agreements related to its redevelopment and development activities. Obligations under these agreements are contingent upon the completion of the services within the guidelines specified in the agreement. At December 31, 2011, the Company had $2,131 in outstanding obligations, which it believes will be settled in 2012.

        A putative class action complaint was filed on September 1, 2010 involving a single plaintiff based on alleged wage and hour violations. The parties reached a court approved settlement on December 9, 2011, which was not material to the Company's Consolidated Financial Statements.