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Segment Reporting (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 12 Months Ended 2 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Sep. 30, 2010
LNR Property LLC ("LNR")
Dec. 31, 2012
LNR Property LLC ("LNR")
Sep. 30, 2012
LNR Property LLC ("LNR")
Dec. 31, 2011
LNR Property LLC ("LNR")
Sep. 30, 2011
LNR Property LLC ("LNR")
Dec. 31, 2010
LNR Property LLC ("LNR")
Dec. 31, 2012
Real Estate Finance
Dec. 31, 2011
Real Estate Finance
Dec. 31, 2010
Real Estate Finance
Dec. 31, 2012
Net Leasing
Dec. 31, 2011
Net Leasing
Dec. 31, 2010
Net Leasing
Dec. 31, 2012
Operating Property
Dec. 31, 2011
Operating Property
Dec. 31, 2010
Operating Property
Dec. 31, 2012
Land
Dec. 31, 2011
Land
Dec. 31, 2010
Land
Dec. 31, 2012
Corporate/ Other
Dec. 31, 2011
Corporate/ Other
Dec. 31, 2010
Corporate/ Other
Segment Reporting                                                                
Operating lease income                 $ 219,019 $ 198,478 $ 186,630             $ 0 $ 0 $ 0 $ 151,992 $ 147,151 $ 146,599 $ 65,500 $ 51,153 $ 39,623 $ 1,527 $ 174 $ 408 $ 0 [1] $ 0 [1] $ 0 [1]
Interest income                 133,410 226,871 364,094             133,410 226,871 364,094 0 0 0 0 0 0 0 0 0 0 [1] 0 [1] 0 [1]
Other income                 48,043 39,720 50,733             8,613 3,176 13,750 0 0 0 32,820 32,538 33,403 2,635 1,635 643 3,975 [1] 2,371 [1] 2,937 [1]
Total revenues 93,713 [2] 95,159 108,647 102,953 104,731 [3] 105,841 136,610 117,887 400,472 465,069 601,457             142,023 230,047 377,844 151,992 147,151 146,599 98,320 83,691 73,026 4,162 1,809 1,051 3,975 [1] 2,371 [1] 2,937 [1]
Earnings (loss) from equity method investments                 103,009 95,091 51,908 1,797 [4] 60,669 60,669 [4] 53,861 53,861 [4] 1,797 0 0 0 2,632 2,566 2,522 25,142 (626) 0 (6,138) (7,213) 0 81,373 [1] 100,364 [1] 49,386 [1]
Income from sales of residential property       27,900         63,472 5,721 0             0 0 0 0 0 0 63,472 5,721 0 0 0 0 0 [1] 0 [1] 0 [1]
Income (loss) from discontinued operations                 5,611 [5] 10,823 [5] 72,692 [5]             0 [5] 0 [5] 0 [5] 4,725 [5] 11,760 [5] 73,233 [5] 886 [5] (937) [5] (541) [5] 0 [5] 0 [5] 0 [5] 0 [1],[5] 0 [1],[5] 0 [1],[5]
Gain from discontinued operations                 27,257 25,110 270,382             0 0 0 27,257 25,110 270,382 0 0 0 0 0 0 0 [1] 0 [1] 0 [1]
Revenue and other earnings                 599,821 601,814 996,439             142,023 230,047 377,844 186,606 186,587 492,736 187,820 87,849 72,485 (1,976) (5,404) 1,051 85,348 [1] 102,735 [1] 52,323 [1]
Real estate expense                 (151,827) (138,943) (121,399)             0 0 0 (24,255) (25,282) (21,223) (100,258) (92,012) (85,097) (27,314) (21,649) (15,079) 0 [1] 0 [1] 0 [1]
Other expense                 (17,266) (11,070) (16,055)             (4,775) (2,866) (10,107) 0 0 0 0 0 0 0 0 0 (12,491) [1] (8,204) [1] (5,948) [1]
Direct expenses                 (169,093) (150,013) (137,454)             (4,775) (2,866) (10,107) (24,255) (25,282) (21,223) (100,258) (92,012) (85,097) (27,314) (21,649) (15,079) (12,491) [1] (8,204) [1] (5,948) [1]
Direct segment profit (loss)                 430,728 451,801 858,985             137,248 227,181 367,737 162,351 161,305 471,513 87,562 (4,163) (12,612) (29,290) (27,053) (14,028) 72,857 [1] 94,531 [1] 46,375 [1]
Allocated interest expense(3)                 (356,161) [6] (345,914) [6] (346,500) [6]             (124,208) [6] (161,025) [6] (174,074) [6] (83,658) [6] (67,338) [6] (62,094) [6] (66,001) [6] (53,598) [6] (39,957) [6] (43,993) [6] (42,337) [6] (30,445) [6] (38,301) [1],[6] (21,616) [1],[6] (39,930) [6]
Allocated general and administrative(4)                 (65,563) [7] (75,337) [7] (90,170) [7]             (14,998) [7] (20,680) [7] (28,833) [7] (9,484) [7] (8,648) [7] (10,285) [7] (7,760) [7] (6,884) [7] (6,618) [7] (7,405) [7] (6,959) [7] (5,261) [7] (25,916) [1],[7] (32,166) [1],[7] (39,173) [7]
Segment profit (loss)(5)                 9,004 [8] 30,550 [8] 422,315 [8]             (1,958) [8] 45,476 [8] 164,830 [8] 69,209 [8] 85,319 [8] 399,134 [8] 13,801 [8] (64,645) [8] (59,187) [8] (80,688) [8] (76,349) [8] (49,734) [8] 8,640 [1],[8] 40,749 [8] (32,728) [8]
Provision for loan losses                 81,740 46,412 331,487             81,740 46,412 331,487 0 0 0 0 0 0 0 0 0 0 [1] 0 [1] 0 [1]
Impairment of assets                 36,354 [6] 22,386 [6] 22,381 [6]             0 [6] 0 [6] 0 [6] 6,670 [6] 668 [6] 6,063 [6] 28,501 [6] 21,030 [6] 18,988 [6] 205 [6] (184) [6] 100 [6] 978 [1],[6] 872 [1],[6] (2,770) [1],[6]
Depreciation and amortization                 70,786 [6] 63,928 [6] 70,786 [6]             0 [6] 0 [6] 0 [6] 39,250 [6] 42,080 [6] 48,973 [6] 28,450 [6] 18,169 [6] 17,050 [6] 1,276 [6] 1,534 [6] 1,037 [6] 1,810 [1],[6] 2,145 [1],[6] 3,726 [1],[6]
Capitalized expenditures                 83,069 64,169 42,863             0 0 0 10,993 8,699 13,475 51,579 38,477 18,894 20,497 16,993 10,494 0 [1] 0 [1] 0 [1]
Real estate, at cost 3,226,648       3,344,672       3,226,648 3,344,672 2,998,638             0 0 0 1,639,320 1,773,149 1,834,172 801,214 720,251 470,989 786,114 851,272 693,477 0 [1] 0 [1] 0 [1]
Less: accumulated depreciation (427,625)       (396,761)       (427,625) (396,761) (356,600)             0 0 0 (315,699) (302,851) (284,489) (109,634) (90,383) (70,074) (2,292) (3,527) (2,037) 0 [1] 0 [1] 0 [1]
Real estate, net 2,799,023       2,947,911       2,799,023 2,947,911 2,642,038             0 0 0 1,323,621 1,470,298 1,549,683 691,580 629,868 400,915 783,822 847,745 691,440 0 [1] 0 [1] 0 [1]
Real estate available and held for sale 635,865       677,458       635,865 677,458 746,081             0 0 0 0 0 0 454,587 551,998 631,920 181,278 125,460 114,161 0 [1] 0 [1] 0 [1]
Total real estate 3,434,888       3,625,369       3,434,888 3,625,369 3,388,119             0 0 0 1,323,621 1,470,298 1,549,683 1,146,167 1,181,866 1,032,835 965,100 973,205 805,601 0 [1] 0 [1] 0 [1]
Loans receivable, net 1,829,985       2,860,762       1,829,985 2,860,762 4,587,352             1,829,985 2,860,762 4,587,352 0 0 0 0 0 0 0 0 0 0 [1] 0 [1] 0 [1]
Other investments 398,843       457,835       398,843 457,835 532,358             0 0 0 16,380 16,297 16,128 25,745 37,957 0 5,493 14,845 0 351,225 [1] 388,736 [1] 516,230 [1]
Total portfolio assets 5,663,716       6,943,966       5,663,716 6,943,966 8,507,829             1,829,985 2,860,762 4,587,352 1,340,001 1,486,595 1,565,811 1,171,912 1,219,823 1,032,835 970,593 988,050 805,601 351,225 [1] 388,736 [1] 516,230 [1]
Cash and other assets 487,073       573,871       487,073 573,871 666,685             9,832 13,340 21,710 105,595 87,673 78,337 60,500 33,217 25,122 9,638 1,734 500 301,508 [1] 437,907 [1] 541,016 [1]
Total assets 6,150,789       7,517,837       6,150,789 7,517,837 9,174,514             1,839,817 2,874,102 4,609,062 1,445,596 1,574,268 1,644,148 1,232,412 1,253,040 1,057,957 980,231 989,784 806,101 652,733 [1] 826,643 [1] 1,057,246 [1]
Equity method investments 387,718       445,835       387,718 445,835     205,773 205,773 [4] 159,764 159,764 [4]                                
Stock-based compensation expense                 $ 15,293 $ 29,702 $ 19,355                                          
[1] Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not related to the other reportable segments above, including the Company's equity investment in LNR of $205.8 million and $159.8 million, as of December 31, 2012 and 2011, respectively, and the Company's share of equity in earnings from LNR of $60.7 million, $53.9 million and $1.8 million for the years ended December 31, 2012, 2011 and 2010, respectively. See Note 6 for further details on the Company's investment in LNR and summarized financial information of LNR.
[2] During the quarter ended December 31, 2012, the Company recorded a loss on early extinguishment of debt of $31.0 million primarily related to a prepayment penalty on the early repayment of 8.625% Senior Notes, as well as a loss due to the acceleration of unamortized fees and discounts related to the refinancing of the 2011 Secured Credit Facilities (see Note 8). The Company also recorded $27.9 million related to Income from sales of residential property. During the quarter ended March 31, 2012, the Madison Funds recorded a significant gain related to the sale of an investment for which the Company recorded its $13.7 million proportionate share.
[3] During the quarter ended December 31, 2011, the Company sold a substantial portion of its interests in Oak Hill Advisors, L.P. and related entities which resulted in a net gain of $30.3 million (see Note 6). During the quarter ended June 30, 2011, the Company recorded interest income of $26.3 million related to certain non-performing loans that were resolved, including interest not previously recorded due to the loans being on non-accrual status. During the quarter ended March 31, 2011, the Company recorded a gain on early extinguishment of debt of $109.0 million for the redemption of its $312.3 million remaining principal amount of 10% senior secured notes due June 2014.
[4] The Company records its investment in LNR on a one quarter lag, therefore, amounts in the Company's financial statements for the year ended December 31, 2012 and 2011 are based on balances and results from LNR for the years ended September 30, 2012 and 2011. LNR was acquired in July of 2010, therefore results for the year ended December 31, 2010 are based on balances from LNR for the period July 29, 2010 to September 30, 2010.
[5] Includes revenue and real estate expense reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
[6] Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
[7] General and administrative excludes stock-based compensation expense of $15.3 million, $29.7 million and $19.4 million for the years ended December 31, 2012, 2011 and 2010, respectively.
[8] The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Years Ended December 31, 2012 2011 2010Segment profit (loss)$9,004 $30,550 $422,315Less: Provision for loan losses(81,740) (46,412) (331,487)Less: Impairment of assets(36,354) (22,386) (22,381)Less: Stock-based compensation expense(15,293) (29,702) (19,355)Less: Depreciation and amortization(70,786) (63,928) (70,786)Less: Income tax (expense) benefit(8,445) 4,719 (7,023)Add: Gain (loss) on early extinguishment of debt, net(37,816) 101,466 108,923Net income (loss)$(241,430) $(25,693) $80,206