Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

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

	For the Year Ended December 31,
	2015		2014		2013
Mortgages assumed from acquisitions	$	33.7	$	293.3	$	969.7
Issuance of Operating Partnership Units ("OP Units")		—		18.3		—
Redemption of OP Units		18.3		—		—
Elimination of a previously held equity interest		1.4		2.5		26.4
Accounts payable related to construction in progress		31.6		25.7		21.5
Dividends declared		68.6		61.5		55.1
Preferred equity interest and mezzanine loan applied to purchase price of acquired properties		—		51.8		160.1
Reclassification adjustment of foreign currency translation (Note 11)		—		21.8		—
Write-off of preferred share original issuance costs (Note 10)		—		1.9		5.2

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

Buildings	Useful lives, 20 to 31.5 years
Building improvements and fixtures	Useful lives, ranging from 5 to 20 years
Tenant improvements	Shorter of economic life or lease terms

The Company’s intangibles are as follows (in millions):

	December 31,
	2015			2014
Assets: Above-market leases, net	$	30.3		$	38.6
Liabilities: Below-market leases, net		(155.3	)		(139.3	)

Estimated net future amortization income associated with the Company’s above- and below-market leases is as follows:

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

	For the Year Ended December 31,
	2015		2014		2013
Management and other fee income	$	32,971	$	31,907	$	40,160
Ancillary and other property income		19,038		24,288		28,108
Lease termination fees		2,774		4,085		5,699
Other		565		621		548
Total fee and other income	$	55,348	$	60,901	$	74,515