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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2012
Statement of Cash Flows and Supplemental Disclosure of Non-Cash Investing and Financing Information

Non-cash investing and financing activities are summarized as follows (in millions):

 

     For the Year Ended December 31,  
         2012              2011              2010      

Mortgages and liability assumed from acquisitions

    $ 42.3      $ 137.8      $ —  

Consolidation of the net assets (excluding mortgages disclosed below) of previously unconsolidated joint ventures

      383.0        87.8        —  

Mortgages assumed of previously unconsolidated joint ventures

      246.2        50.1        —  

Deconsolidation of net assets from the adoption of ASC 810

      —        —        20.2  

Reduction of non-controlling interests from the adoption of ASC 810

      —        —        12.4  

Deconsolidation of net assets

      —        5.0        15.2  

Reduction of non-controlling interests due to deconsolidation of Mervyns Joint Venture

      —        —        3.9  

Foreclosure of note receivable and transfer of collateral

      —        —        19.0  

Equity derivative liability – affiliate

      —        74.3        —  

Write-off of preferred share original issuance costs

      5.8        6.4        —  

Dividends declared

      44.2        29.1        12.1  

Accounts payable related to construction in progress

      18.2        3.4        3.3  
Estimated Useful Lives of Assets

Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets as follows:

 

Buildings

    Useful lives, 31.5 years

Building improvements and fixtures

    Useful lives, ranging from 5 to 20 years

Tenant improvements

    Shorter of economic life or lease terms
Fee and Other Income

Fee and other income from continuing operations was composed of the following (in thousands):

 

     For the Year Ended December 31,  
     2012      2011      2010  

Management, development, financing and other fee income

    $ 43,811       $ 47,539       $ 54,592   

Ancillary and other property income

      27,665         28,527         20,196   

Lease termination fees

      6,401         5,897         7,482   

Other miscellaneous

      384         607         2,123   
  

 

 

     

 

 

     

 

 

  

Total fee and other income

    $ 78,261       $ 82,570       $ 84,393