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Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2011
Income Taxes |
Schedule of differences between taxable income reported on income tax returns and net income as reported on consolidated statements of operations |
|  | For the Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (Estimated) |  |  |  |  |
Net (loss) income |  | $ | (124,318 | ) | $ | 45,504 |  | $ | 61,299 |
Adjustments: |  |  |  |  |  |  |  |  |  |
Rental revenue recognition |  |  | (10,708 | ) |  | (9,192 | ) |  | (1,646 | )
Compensation expense recognition |  |  | (1,298 | ) |  | (4,820 | ) |  | (5,240 | )
Operating expense recognition |  |  | 751 |  |  | 280 |  |  | 1,061 |
Gain on sales of properties |  |  | 1,154 |  |  | 6,548 |  |  | — |
Impairment losses |  |  | 151,021 |  |  | — |  |  | — |
Loss on interest rate derivatives |  |  | 29,805 |  |  | — |  |  | — |
Gains from non-real estate investments |  |  | 4,447 |  |  | (6,994 | ) |  | (1,029 | )
Income from service operations |  |  | (16,047 | ) |  | (1,628 | ) |  | 303 |
Income tax expense |  |  | 10,679 |  |  | 119 |  |  | 196 |
Depreciation and amortization |  |  | 44,070 |  |  | 42,365 |  |  | 36,031 |
Discounts/premiums included in interest expense |  |  | 5,540 |  |  | 5,841 |  |  | 3,412 |
Income from unconsolidated entities |  |  | (374 | ) |  | (244 | ) |  | (12 | )
Noncontrolling interests, gross |  |  | (4,891 | ) |  | (3,288 | ) |  | (5,813 | )
Other |  |  | 88 |  |  | 2,173 |  |  | (1,947 | )
Taxable income |  | $ | 89,919 |  | $ | 76,664 |  | $ | 86,615
Schedule of characterization of dividends declared on common and preferred shares |
|  | Common Shares |  | Preferred Shares |
--- | --- | --- | --- | --- | ---
|  | For the Years Ended December 31, |  | For the Years Ended December 31, |
|  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |
Ordinary income |  |  | 56.9 | % |  | 59.7 | % |  | 87.5 | % |  | 85.9 | % |  | 88.3 | % |  | 100.0 | %
Long term capital gain |  |  | 9.4 | % |  | 8.0 | % |  | 0.0 | % |  | 14.1 | % |  | 11.7 | % |  | 0.0 | %
Return of capital |  |  | 33.7 | % |  | 32.3 | % |  | 12.5 | % |  | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Components of provision for income tax |
|  | For the Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
Deferred |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (8,760 | ) | $ | (64 | ) | $ | 115 |
State |  |  | (1,938 | ) |  | (14 | ) |  | 25 |
|  |  | (10,698 | ) |  | (78 | ) |  | 140 |
Current |  |  |  |  |  |  |  |  |  |
Federal |  |  | 16 |  |  | 161 |  |  | 46 |
State |  |  | 3 |  |  | 36 |  |  | 10 |
|  |  | 19 |  |  | 197 |  |  | 56 |
Total income tax (benefit) expense |  | $ | (10,679 | ) | $ | 119 |  | $ | 196 |
Reported on line entitled income tax (benefit) expense |  | $ | (10,679 | ) | $ | 108 |  | $ | 196 |
Reported on line entitled gain on sales of real estate, net |  |  | — |  |  | 11 |  |  | — |
Total income tax (benefit) expense |  | $ | (10,679 | ) | $ | 119 |  | $ | 196
Schedule of reconciliation of Federal statutory rate to effective tax rate |
|  | For the Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
Income taxes at U.S. statutory rate |  |  | 34.0 | % |  | 34.0 | % |  | 34.0 | %
State and local, net of U.S. Federal tax benefit |  |  | 4.6 | % |  | 4.2 | % |  | 4.6 | %
Other |  |  | 0.0 | % |  | (3.5 | )% |  | 0.1 | %
Effective tax rate |  |  | 38.6 | % |  | 34.7 | % |  | 38.7 | %

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- Definition Tabular disclosure of income tax classification of the per share common and preferred stock dividend distributions into ordinary taxable distribution, long-term capital gain and return of capital. + References No definition available. + Details
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- Definition Tabular disclosure of reconciliation of net income to taxable income. + References No definition available. + Details
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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 740 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 9 -Section 50 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 740 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 12 -Section 50 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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