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Share and Unit-Based Plans (Tables)
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Compensation cost under the share and unit-based plans
The following summarizes the compensation cost under the share and unit-based plans:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
LTIP Units
$
5,242

 
$
5,149

 
$
19,623

 
$
22,548

Stock awards

 

 

 
20

Stock units
1,333

 
1,002

 
3,945

 
4,374

Stock options
15

 
4

 
19

 
8

Phantom stock units
183

 
194

 
360

 
798

 
$
6,773

 
$
6,349

 
$
23,947

 
$
27,748

Summary of activity of non-vested LTIP Units, stock awards, phantom stock and stock units
The following table summarizes the activity of the non-vested LTIP Units, phantom stock units and stock units:
 
LTIP Units
 
Phantom Stock Units
 
Stock Units
 
Units
 
Value(1)
 
Units
 
Value(1)
 
Units
 
Value(1)
Balance at January 1, 2017
322,572

 
$
58.18

 
5,845

 
$
81.47

 
148,428

 
$
78.53

Granted
506,906

 
55.33

 
6,772

 
71.73

 
85,979

 
66.53

Vested
(134,742
)
 
66.57

 
(5,268
)
 
76.29

 
(78,573
)
 
75.79

Balance at June 30, 2017
694,736

 
$
54.48

 
7,349

 
$
76.20

 
155,834

 
$
73.28

 
 
 
(1) Value represents the weighted average grant date fair value.
Summary of activity of SARs and stock options outstanding
The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:
 
SARs
 
Stock Options
 
Units
 
Value(1)
 
Units
 
Value(1)
Balance at January 1, 2017
284,146

 
$
53.85

 
10,565

 
$
56.77

Granted

 

 
25,000

 
57.55

Exercised

 

 

 

Balance at June 30, 2017
284,146

 
$
53.85

 
35,565

 
$
57.32

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Value represents the weighted average exercise price.