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Debt (Details 2) (USD $) In Thousands, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2012
--- | --- | ---
Carrying amount and estimated fair value of debt |  |  |
Debt, net | $ 1,957,360 | $ 2,019,168 |
4.25% Exchangeable Senior Notes |  |  |
Carrying amount and estimated fair value of debt |  |  |
Debt, net | 179,972 | 230,934 | [1]
Carrying Amount |  |  |
Carrying amount and estimated fair value of debt |  |  |
Variable-rate debt | 843,670 | 838,032 |
Debt, net | 1,957,360 | 2,019,168 |
Carrying Amount | 4.25% Exchangeable Senior Notes |  |  |
Carrying amount and estimated fair value of debt |  |  |
Fixed-rate debt | 179,972 | 230,934 |
Carrying Amount | Other fixed-rate debt |  |  |
Carrying amount and estimated fair value of debt |  |  |
Fixed-rate debt | 933,718 | 950,202 |
Total Estimated Fair Value |  |  |
Carrying amount and estimated fair value of debt |  |  |
Variable-rate debt | 849,555 | 845,558 |
Debt, net | 1,983,968 | 2,054,020 |
Total Estimated Fair Value | 4.25% Exchangeable Senior Notes |  |  |
Carrying amount and estimated fair value of debt |  |  |
Fixed-rate debt | 187,150 | 240,282 |
Total Estimated Fair Value | Other fixed-rate debt |  |  |
Carrying amount and estimated fair value of debt |  |  |
Fixed-rate debt | $ 947,263 | $ 968,180 |
[1] | As described further in our 2012 Annual Report on Form 10-K, these notes have an exchange settlement feature that provides that the notes may, under certain circumstances, be exchangeable for cash and, at the Operating Partnership’s discretion, our common shares at an exchange rate (subject to adjustment) of 20.8513 shares per one thousand dollar principal amount of the notes (exchange rate is as of March 31, 2013 and is equivalent to an exchange price of $47.96 per common share). During the three months ended March 31, 2013, we repaid $53.7 million principal amount of these notes and recognized a $5.3 million loss on early extinguishment of debt. The carrying value of these notes included a principal amount of $186.3 million and an unamortized discount totaling $6.3 million at March 31, 2013 and a principal amount of $240.0 million and an unamortized discount totaling $9.1 million at December 31, 2012. The effective interest rate under the notes, including amortization of the issuance costs, was 6.05%. Because the closing price of our common shares at March 31, 2013 and December 31, 2012 was less than the exchange price per common share applicable to these notes, the if-converted value of the notes did not exceed the principal amount. The table below sets forth interest expense recognized on these notes before deductions for amounts capitalized (in thousands): For the Three Months Ended March 31, 2013 2012Interest expense at stated interest rate$2,304 $2,550Interest expense associated with amortization of discount864 892Total$3,168 $3,442

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- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 7 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 22 -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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