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Consolidated Balance Sheets - USD ($) $ in Thousands	12 Months Ended
Dec. 31, 2009	Dec. 31, 2008
ASSETS:
Investment properties, at cost	$ 25,336,189	$ 25,205,715
Less - accumulated depreciation	7,004,534	6,184,285
Investment properties, net	18,331,655	19,021,430
Cash and cash equivalents	3,957,718	773,544
Tenant receivables and accrued revenue, net	402,729	414,856
Investment in unconsolidated entities, at equity	1,468,577	1,663,886
Deferred costs and other assets	1,155,587	1,028,333
Note receivable from related party	632,000	520,700
Total assets	25,948,266	23,422,749
LIABILITIES:
Mortgages and other indebtedness	18,630,302	18,042,532
Accounts payable, accrued expenses, intangibles, and deferred revenues	987,530	1,086,248
Cash distributions and losses in partnerships and joint ventures, at equity	457,754	380,730
Other liabilities and accrued dividends	159,345	155,151
Total liabilities	$ 20,234,931	$ 19,664,661
Commitments and contingencies
Limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interests in properties	$ 125,815	$ 276,608
Series I 6% convertible perpetual preferred stock, 19,000,000 shares authorized, 8,091,155 and 7,590,264 issued and outstanding, respectively, at liquidation value	404,558	379,513
Stockholders' equity
Series J 8 3/8% cumulative redeemable preferred stock, 1,000,000 shares authorized, 796,948 issued and outstanding, with a liquidation value of $39,847	45,704	46,032
Capital in excess of par value	7,547,959	5,410,147
Accumulated deficit	(2,955,671)	(2,491,929)
Accumulated other comprehensive loss	(3,088)	(165,066)
Common stock held in treasury at cost, 4,126,440 and 4,379,396 shares, respectively	(176,796)	(186,210)
Total stockholders' equity	4,458,137	2,612,998
Noncontrolling interests	724,825	488,969
Total equity	5,182,962	3,101,967
Total liabilities and equity	25,948,266	23,422,749
Class A common stock
Stockholders' equity
Common stock	29	24
Class B common stock
Stockholders' equity
Common stock	$ 0	$ 0

v3.19.3

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2009

Notes to Consolidated Financial Statements

Summary of Significant Accounting Policies

3. Summary of Significant Accounting Policies

Investment Properties

We record investment properties at cost. Investment properties include costs of acquisitions; development, predevelopment, and construction (including allocable salaries and related benefits); tenant allowances and improvements; and interest and real estate taxes incurred during construction. We capitalize improvements and replacements from repair and maintenance when the repair and maintenance extends the useful life, increases capacity, or improves the efficiency of the asset. All other repair and maintenance items are expensed as incurred. We capitalize interest on projects during periods of construction until the projects are ready for their intended purpose based on interest rates in place during the construction period. The amount of interest capitalized during each year is as follows:

- References

No definition available.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2009	Dec. 31, 2008
Statement -Line Items
Series I 6% convertible perpetual preferred stock, shares authorized	19,000,000	19,000,000
Series I 6% convertible perpetual preferred stock, shares issued	8,091,155	7,590,264
Series I 6% convertible perpetual preferred stock, shares outstanding	8,091,155	7,590,264
Capital stock, shares authorized	850,000,000	750,000,000
Capital stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Capital stock, shares of excess common stock	238,000,000	237,996,000
Capital stock, authorized shares of preferred stock	100,000,000	100,000,000
Series J 8 3/8% cumulative redeemable preferred stock, shares authorized	1,000,000	1,000,000
Series J 8 3/8% cumulative redeemable preferred stock, shares issued	796,948	796,948
Series J 8 3/8% cumulative redeemable preferred stock, shares outstanding	796,948	796,948
Series J 8 3/8% cumulative redeemable preferred stock, liquidation value (in dollars)	$ 39,847	$ 39,847
Common stock held in treasury, shares	4,126,440	4,379,396
Class A common stock
Statement -Line Items
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	511,990,000	400,004,000
Common stock, shares issued	289,866,711	235,691,040
Common stock, shares outstanding	289,866,711	235,691,040
Class B common stock
Statement -Line Items
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	10,000	12,000,000
Common stock, shares issued	8,000	8,000
Common stock, shares outstanding	8,000	8,000

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2009	Dec. 31, 2008	Dec. 31, 2007
REVENUE:
Minimum rent	$ 2,316,838	$ 2,291,919	$ 2,154,713
Overage rent	84,922	100,222	110,003
Tenant reimbursements	1,062,227	1,065,957	1,023,164
Management fees and other revenues	124,059	132,471	113,740
Other income	187,170	192,586	249,179
Total revenue	3,775,216	3,783,155	3,650,799
EXPENSES:
Property operating	425,703	455,874	454,510
Depreciation and amortization	997,598	969,477	905,636
Real estate taxes	333,957	334,657	313,311
Repairs and maintenance	91,736	107,879	120,224
Advertising and promotion	93,565	96,783	94,340
Provision for credit losses	22,655	24,035	9,562
Home and regional office costs	110,048	144,865	136,610
General and administrative	18,124	20,987	19,587
Impairment charge	197,353	16,489
Transaction expenses	5,697
Other	72,088	69,061	62,987
Total operating expenses	2,368,524	2,240,107	2,116,767
OPERATING INCOME	1,406,692	1,543,048	1,534,032
Interest expense	(992,065)	(947,140)	(945,852)
Loss on extinguishment of debt		(20,330)
Income tax benefit (expense) of taxable REIT subsidiaries	5,220	(3,581)	11,322
Income from unconsolidated entities	40,220	32,246	38,120
Impairment charge from investments in unconsolidated entities	(42,697)	(4,683)	(55,061)
(Loss) gain on sale of assets and interests in unconsolidated entities	(30,108)		92,044
Consolidated income from continuing operations	387,262	599,560	674,605
Discontinued operations		(25)	(117)
Loss on sale of discontinued operations			(35,252)
CONSOLIDATED NET INCOME	387,262	599,535	639,236
Net income attributable to noncontrolling interests	77,855	135,899	147,997
Preferred dividends	26,309	41,119	55,075
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 283,098	$ 422,517	$ 436,164
BASIC EARNINGS PER COMMON SHARE:
Income from continuing operations (in dollars per share)	$ 1.06	$ 1.88	$ 2.09
Discontinued operations (in dollars per share)			(0.13)
Net income attributable to common stockholders (in dollars per share)	1.06	1.88	1.96
DILUTED EARNINGS PER COMMON SHARE:
Income from continuing operations (in dollars per share)	1.05	1.87	2.08
Discontinued operations (in dollars per share)			(0.13)
Net income attributable to common stockholders (in dollars per share)	$ 1.05	$ 1.87	$ 1.95
COMPREHENSIVE INCOME
Consolidated Net Income	$ 387,262	$ 599,535	$ 639,236
Unrealized gain (loss) on interest rate hedge agreements	1,509	(50,973)	(10,760)
Net (loss) gain on derivative instruments reclassified from accumulated other comprehensive income (loss) into interest expense	(14,754)	(3,205)	902
Currency translation adjustments	(8,244)	(6,953)	6,297
Changes in available-for-sale securities and other	224,694	(168,619)	2,020
Comprehensive income	590,467	369,785	637,695
Comprehensive income attributable to noncontrolling interests	119,082	89,302	147,608
Comprehensive income attributable to common stockholders	$ 471,385	$ 280,483	$ 490,087