2014 Q4 Form 10-K Financial Statement

#000090634515000007 Filed on February 20, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2014 2013 Q4
Revenue $216.5M $790.3M $204.3M
YoY Change 5.94% 0.18% 11.16%
Cost Of Revenue $83.60M $313.1M $75.50M
YoY Change 10.73% -0.03% 7.24%
Gross Profit $132.9M $477.2M $122.3M
YoY Change 8.67% 0.34% 14.09%
Gross Profit Margin 61.4% 60.38% 59.86%
Selling, General & Admin $20.60M $51.00M $9.200M
YoY Change 123.91% 25.62% -6.12%
% of Gross Profit 15.5% 10.69% 7.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.10M $222.1M $56.10M
YoY Change 8.91% 0.23% 4.86%
% of Gross Profit 45.97% 46.53% 45.87%
Operating Expenses $79.20M $263.2M $60.50M
YoY Change 30.91% 8.18% 8.04%
Operating Profit $53.70M $214.0M $61.80M
YoY Change -13.11% -7.88% 20.7%
Interest Expense -$24.10M $94.91M -$20.80M
YoY Change 15.87% -4.89% 92.59%
% of Operating Profit -44.88% 44.35% -33.66%
Other Income/Expense, Net $842.0K
YoY Change -30.81%
Pretax Income $185.3M $285.0M $41.00M
YoY Change 351.95% 81.03% -28.82%
Income Tax $700.0K $1.900M $200.0K
% Of Pretax Income 0.38% 0.67% 0.49%
Net Earnings $178.5M $292.1M $130.0M
YoY Change 37.31% -13.16% -8.56%
Net Earnings / Revenue 82.46% 36.96% 63.62%
Basic Earnings Per Share $1.99 $3.29 $1.47
Diluted Earnings Per Share $1.98 $3.27 $1.46
COMMON SHARES
Basic Shares Outstanding 86.40M shares 88.08M shares 85.31M shares
Diluted Shares Outstanding 88.47M shares

Balance Sheet

Concept 2014 Q4 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.9M $153.9M $17.80M
YoY Change 764.61% 764.61% -33.33%
Cash & Equivalents $153.9M $153.9M $17.79M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $26.00M $26.00M $27.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $179.9M $179.9M $45.50M
YoY Change 295.38% 295.38% -24.54%
LONG-TERM ASSETS
Property, Plant & Equipment $5.683B $5.683B $5.429B
YoY Change 4.68% 4.68% 5.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $36.40M $36.40M $42.20M
YoY Change -13.74% -13.74% -6.43%
Other Assets $33.00M $33.00M $6.600M
YoY Change 400.0% 400.0% -81.92%
Total Long-Term Assets $5.864B $5.864B $5.587B
YoY Change 4.97% 4.97% 4.92%
TOTAL ASSETS
Total Short-Term Assets $179.9M $179.9M $45.50M
Total Long-Term Assets $5.864B $5.864B $5.587B
Total Assets $6.044B $6.044B $5.632B
YoY Change 7.31% 7.31% 4.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $157.2M $157.2M $113.3M
YoY Change 38.75% 38.75% 11.19%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $249.8M $249.8M
YoY Change
Total Short-Term Liabilities $506.5M $506.5M $205.7M
YoY Change 146.23% 146.23% 14.09%
LONG-TERM LIABILITIES
Long-Term Debt $2.481B $2.481B $2.531B
YoY Change -1.98% -1.98% 0.81%
Other Long-Term Liabilities $168.2M $168.2M $135.5M
YoY Change 24.13% 24.13% 100.15%
Total Long-Term Liabilities $2.649B $2.649B $2.666B
YoY Change -0.65% -0.65% 3.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $506.5M $506.5M $205.7M
Total Long-Term Liabilities $2.649B $2.649B $2.666B
Total Liabilities $3.087B $3.228B $2.825B
YoY Change 9.3% 9.79% 2.4%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.667B $3.596B
YoY Change 1.98% 0.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $396.6M $410.2M
YoY Change -3.32% -3.56%
Treasury Stock Shares 10.98M shares 11.35M shares
Shareholders Equity $2.816B $2.816B $2.692B
YoY Change
Total Liabilities & Shareholders Equity $6.044B $6.044B $5.632B
YoY Change 7.31% 7.31% 4.59%

Cashflow Statement

Concept 2014 Q4 2014 2013 Q4
OPERATING ACTIVITIES
Net Income $178.5M $292.1M $130.0M
YoY Change 37.31% -13.16% -8.56%
Depreciation, Depletion And Amortization $61.10M $222.1M $56.10M
YoY Change 8.91% 0.23% 4.86%
Cash From Operating Activities $91.50M $418.5M $94.70M
YoY Change -3.38% 3.52% 27.46%
INVESTING ACTIVITIES
Capital Expenditures -$112.5M -$497.1M $112.6M
YoY Change -199.91% 39.32% -145.38%
Acquisitions
YoY Change
Other Investing Activities $152.7M $4.945M -$400.0K
YoY Change -38275.0% 280.38% -100.22%
Cash From Investing Activities $40.20M -$326.6M $112.3M
YoY Change -64.2% 26.1% -262.05%
FINANCING ACTIVITIES
Cash Dividend Paid $236.5M
YoY Change 7.47%
Common Stock Issuance & Retirement, Net $66.23M
YoY Change 65.38%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -43.90M $43.48M -193.9M
YoY Change -77.36% -128.2% -1311.87%
NET CHANGE
Cash From Operating Activities 91.50M $418.5M 94.70M
Cash From Investing Activities 40.20M -$326.6M 112.3M
Cash From Financing Activities -43.90M $43.48M -193.9M
Net Change In Cash 87.80M $135.4M 13.10M
YoY Change 570.23% -1625.89% -37.62%
FREE CASH FLOW
Cash From Operating Activities $91.50M $418.5M $94.70M
Capital Expenditures -$112.5M -$497.1M $112.6M
Free Cash Flow $204.0M $915.6M -$17.90M
YoY Change -1239.66% 20.3% -105.55%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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NoncontrollingInterestIncreaseFromEquityUponConversionOfOperatingPartnershipUnit
52000 USD
CY2012 cpt Number Of Apartment Units In Property Disposed
NumberOfApartmentUnitsInPropertyDisposed
3213
CY2013 cpt Number Of Apartment Units In Property Disposed
NumberOfApartmentUnitsInPropertyDisposed
3931
CY2014 cpt Number Of Apartment Units In Property Disposed
NumberOfApartmentUnitsInPropertyDisposed
1847
CY2012 cpt Number Of Apartment Units In Property Of Which Noncontrolling Ownership Interests Were Acquired
NumberOfApartmentUnitsInPropertyOfWhichNoncontrollingOwnershipInterestsWereAcquired
680
CY2013 cpt Number Of Apartment Units In Wholly Owned Property Acquired
NumberOfApartmentUnitsInWhollyOwnedPropertyAcquired
1118
CY2012 cpt Number Of Fully Consolidated Joint Ventures Acquired
NumberOfFullyConsolidatedJointVenturesAcquired
13
CY2012 cpt Number Of Joint Ventures Accounted For Under Equity Method Investments
NumberOfJointVenturesAccountedForUnderEquityMethodInvestments
4
CY2013 cpt Number Of Joint Ventures Accounted For Under Equity Method Investments
NumberOfJointVenturesAccountedForUnderEquityMethodInvestments
2
CY2014 cpt Number Of Joint Ventures Accounted For Under Equity Method Investments
NumberOfJointVenturesAccountedForUnderEquityMethodInvestments
2
CY2014Q4 cpt Number Of Multifamily Communities
NumberOfMultifamilyCommunities
181
CY2014Q4 cpt Number Of Multifamily Properties Under Development
NumberOfMultifamilyPropertiesUnderDevelopment
13
CY2012 cpt Number Of Operating Properties Acquired
NumberOfOperatingPropertiesAcquired
7
CY2013 cpt Number Of Operating Properties Acquired
NumberOfOperatingPropertiesAcquired
3
CY2014 cpt Number Of Operating Properties Acquired
NumberOfOperatingPropertiesAcquired
1
CY2012 cpt Number Of Operating Properties Sold
NumberOfOperatingPropertiesSold
11
CY2013 cpt Number Of Operating Properties Sold
NumberOfOperatingPropertiesSold
12
CY2014 cpt Number Of Operating Properties Sold
NumberOfOperatingPropertiesSold
5
CY2014Q4 cpt Numberofconsolidatedprojectsunderconstruction
Numberofconsolidatedprojectsunderconstruction
12
CY2014 cpt Participant Withdrawals From Deferred Compensation Plan Investments
ParticipantWithdrawalsFromDeferredCompensationPlanInvestments
1500000 USD
CY2012Q4 cpt Percentage Of Income Distributions Representing Tax Preference Items
PercentageOfIncomeDistributionsRepresentingTaxPreferenceItems
0.0572
CY2013Q4 cpt Percentage Of Income Distributions Representing Tax Preference Items
PercentageOfIncomeDistributionsRepresentingTaxPreferenceItems
0.0495
CY2014Q4 cpt Percentage Of Income Distributions Representing Tax Preference Items
PercentageOfIncomeDistributionsRepresentingTaxPreferenceItems
0.0417
CY2014 cpt Percentage Of Market Valueat Which Shares Purchased Under Employee Share Purchase Plan
PercentageOfMarketValueatWhichSharesPurchasedUnderEmployeeSharePurchasePlan
0.85
CY2012 cpt Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes
PercentageOfRentalRevenueAndOtherIncomeFromLeasingOfApartmentHomes
0.98
CY2013 cpt Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes
PercentageOfRentalRevenueAndOtherIncomeFromLeasingOfApartmentHomes
0.98
CY2014 cpt Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes
PercentageOfRentalRevenueAndOtherIncomeFromLeasingOfApartmentHomes
0.99
CY2014 cpt Proceedsfromsaleofoperatingproperties
Proceedsfromsaleofoperatingproperties
218300000 USD
CY2012 cpt Real Estate Development
RealEstateDevelopment
232296000 USD
CY2013 cpt Real Estate Development
RealEstateDevelopment
306950000 USD
CY2014 cpt Real Estate Development
RealEstateDevelopment
469048000 USD
CY2012 cpt Real Estate Investment Trust Taxable Income
RealEstateInvestmentTrustTaxableIncome
224339000 USD
CY2013 cpt Real Estate Investment Trust Taxable Income
RealEstateInvestmentTrustTaxableIncome
256778000 USD
CY2014 cpt Real Estate Investment Trust Taxable Income
RealEstateInvestmentTrustTaxableIncome
302572000 USD
CY2012 cpt Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation
Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation
30000 USD
CY2013 cpt Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation
Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation
54000 USD
CY2014 cpt Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation
Reclassificationofnetlossoncashflowhedgingactivitiespriorservicecostandnetlossonpostretirementobligation
74000 USD
CY2012 cpt Redemption Of Perpetual Preferred Units
RedemptionOfPerpetualPreferredUnits
100000000 USD
CY2013 cpt Redemption Of Perpetual Preferred Units
RedemptionOfPerpetualPreferredUnits
0 USD
CY2014 cpt Redemption Of Perpetual Preferred Units
RedemptionOfPerpetualPreferredUnits
0 USD
CY2012 cpt Revenuespriortosaleofoperatingpropertiesinunconsolidatedjointventures
Revenuespriortosaleofoperatingpropertiesinunconsolidatedjointventures
7800000 USD
CY2013 cpt Sales Price Of Property Purchased
SalesPriceOfPropertyPurchased
225000000 USD
CY2013Q4 cpt Share Awards Held In Employee Trust Shares
ShareAwardsHeldInEmployeeTrustShares
1900000 shares
CY2014Q4 cpt Share Awards Held In Employee Trust Shares
ShareAwardsHeldInEmployeeTrustShares
1800000 shares
CY2013Q4 cpt Share Awards Held In Non Qualified Deferred Compensation Plan Shares
ShareAwardsHeldInNonQualifiedDeferredCompensationPlanShares
1200000 shares
CY2014Q4 cpt Share Awards Held In Non Qualified Deferred Compensation Plan Shares
ShareAwardsHeldInNonQualifiedDeferredCompensationPlanShares
1200000 shares
CY2012 cpt Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost For Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCostForPeriod
13700000 USD
CY2013 cpt Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost For Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCostForPeriod
14700000 USD
CY2014 cpt Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost For Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCostForPeriod
16000000 USD
CY2014Q4 cpt Shares Authorized
SharesAuthorized
185000000 shares
CY2012 cpt Tax Treatment Of Dividends And Distributions Long Term Capital Gain
TaxTreatmentOfDividendsAndDistributionsLongTermCapitalGain
0.64
CY2013 cpt Tax Treatment Of Dividends And Distributions Long Term Capital Gain
TaxTreatmentOfDividendsAndDistributionsLongTermCapitalGain
0.76
CY2014 cpt Tax Treatment Of Dividends And Distributions Long Term Capital Gain
TaxTreatmentOfDividendsAndDistributionsLongTermCapitalGain
1.02
CY2012 cpt Tax Treatment Of Dividends And Distributions Ordinary Dividends
TaxTreatmentOfDividendsAndDistributionsOrdinaryDividends
0.96
CY2013 cpt Tax Treatment Of Dividends And Distributions Ordinary Dividends
TaxTreatmentOfDividendsAndDistributionsOrdinaryDividends
1.40
CY2014 cpt Tax Treatment Of Dividends And Distributions Ordinary Dividends
TaxTreatmentOfDividendsAndDistributionsOrdinaryDividends
1.23
CY2012 cpt Tax Treatment Of Dividends And Distributions Unrecaptured Section Twelve Hundred And Fifty Gain
TaxTreatmentOfDividendsAndDistributionsUnrecapturedSectionTwelveHundredAndFiftyGain
0.64
CY2013 cpt Tax Treatment Of Dividends And Distributions Unrecaptured Section Twelve Hundred And Fifty Gain
TaxTreatmentOfDividendsAndDistributionsUnrecapturedSectionTwelveHundredAndFiftyGain
0.36
CY2014 cpt Tax Treatment Of Dividends And Distributions Unrecaptured Section Twelve Hundred And Fifty Gain
TaxTreatmentOfDividendsAndDistributionsUnrecapturedSectionTwelveHundredAndFiftyGain
0.39
CY2012 cpt Total Non Property Income Loss
TotalNonPropertyIncomeLoss
16407000 USD
CY2013 cpt Total Non Property Income Loss
TotalNonPropertyIncomeLoss
21197000 USD
CY2014 cpt Total Non Property Income Loss
TotalNonPropertyIncomeLoss
14611000 USD
CY2014Q4 cpt Total Number Of Apartment Homes In Multifamily Communities
TotalNumberOfApartmentHomesInMultifamilyCommunities
63163
CY2014Q4 cpt Total Number Of Apartment Homes In Multifamily Properties Upon Completion Of Development
TotalNumberOfApartmentHomesInMultifamilyPropertiesUponCompletionOfDevelopment
4215
CY2012 cpt Total Other Expenses
TotalOtherExpenses
373254000 USD
CY2013 cpt Total Other Expenses
TotalOtherExpenses
392478000 USD
CY2014 cpt Total Other Expenses
TotalOtherExpenses
415224000 USD
CY2013Q4 cpt Trading Securities Held In Employee Trust Value
TradingSecuritiesHeldInEmployeeTrustValue
41300000 USD
CY2014Q4 cpt Trading Securities Held In Employee Trust Value
TradingSecuritiesHeldInEmployeeTrustValue
43700000 USD
CY2013Q4 cpt Trading Securities Held In Non Qualified Deferred Compensation Plan Value
TradingSecuritiesHeldInNonQualifiedDeferredCompensationPlanValue
18100000 USD
CY2014Q4 cpt Trading Securities Held In Non Qualified Deferred Compensation Plan Value
TradingSecuritiesHeldInNonQualifiedDeferredCompensationPlanValue
27700000 USD
CY2013Q4 cpt Value Of Real Estate Assets At Cost Subject To Secured Notes
ValueOfRealEstateAssetsAtCostSubjectToSecuredNotes
1582500000 USD
CY2014Q4 cpt Value Of Real Estate Assets At Cost Subject To Secured Notes
ValueOfRealEstateAssetsAtCostSubjectToSecuredNotes
1541300000 USD
CY2012 cpt Weighted Average Fair Value Of Shares Purchased Under Employee Share Purchase Plan
WeightedAverageFairValueOfSharesPurchasedUnderEmployeeSharePurchasePlan
67.80
CY2013 cpt Weighted Average Fair Value Of Shares Purchased Under Employee Share Purchase Plan
WeightedAverageFairValueOfSharesPurchasedUnderEmployeeSharePurchasePlan
62.59
CY2014 cpt Weighted Average Fair Value Of Shares Purchased Under Employee Share Purchase Plan
WeightedAverageFairValueOfSharesPurchasedUnderEmployeeSharePurchasePlan
71.19
CY2014Q4 cpt Weighted Average Maturity Of Indebtedness Including Unsecured Line Of Credit
WeightedAverageMaturityOfIndebtednessIncludingUnsecuredLineOfCredit
6.3 Y
CY2012 cpt Write Off Of Original Issuance Costs Of Redeemed Perpetual Preferred Units
WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits
2075000 USD
CY2013 cpt Write Off Of Original Issuance Costs Of Redeemed Perpetual Preferred Units
WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits
0 USD
CY2014 cpt Write Off Of Original Issuance Costs Of Redeemed Perpetual Preferred Units
WriteOffOfOriginalIssuanceCostsOfRedeemedPerpetualPreferredUnits
0 USD
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-12-31
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0000906345
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
86718520 shares
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q2 dei Entity Public Float
EntityPublicFloat
6016759052 USD
CY2014 dei Entity Registrant Name
EntityRegistrantName
CAMDEN PROPERTY TRUST
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2013Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
113307000 USD
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
157232000 USD
CY2013Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
27724000 USD
CY2014Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
25977000 USD
CY2013Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
35648000 USD
CY2014Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
39149000 USD
CY2013Q4 us-gaap Accumulated Distributions In Excess Of Net Income
AccumulatedDistributionsInExcessOfNetIncome
494167000 USD
CY2014Q4 us-gaap Accumulated Distributions In Excess Of Net Income
AccumulatedDistributionsInExcessOfNetIncome
453777000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1106000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2419000 USD
CY2012 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P6M
CY2013 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P6M
CY2014 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P7M
CY2013Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3596069000 USD
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3667448000 USD
CY2012 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1400000 USD
CY2013 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1100000 USD
CY2014 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
200000 USD
CY2012 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3608000 USD
CY2013 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3548000 USD
CY2014 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3355000 USD
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13100000 USD
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5600000 USD
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000 USD
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2300000 shares
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2100000 shares
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2800000 shares
CY2013Q4 us-gaap Area Of Land
AreaOfLand
3.7 acre
CY2014Q4 us-gaap Area Of Land
AreaOfLand
26.9 acre
CY2014Q3 us-gaap Area Of Land
AreaOfLand
2.4 acre
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26669000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17794000 USD
CY2012 us-gaap Asset Management Costs
AssetManagementCosts
6631000 USD
CY2013 us-gaap Asset Management Costs
AssetManagementCosts
5756000 USD
CY2014 us-gaap Asset Management Costs
AssetManagementCosts
5341000 USD
CY2013Q4 us-gaap Assets
Assets
5632141000 USD
CY2014Q4 us-gaap Assets
Assets
6056907000 USD
CY2013Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
200000 USD
CY2014Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
400000 USD
CY2013Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
400000 USD
CY2014Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
500000 USD
CY2013Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
200000 USD
CY2014Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
100000 USD
CY2012 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
52800000 USD
CY2013 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
10800000 USD
CY2014 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
800000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
226000000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
62700000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
192000000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
51300000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
4500000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
900000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
1900000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
400000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
29500000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
10500000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
1900000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
400000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
224100000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
62300000 USD
CY2012 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
57418000 USD
CY2013 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
0 USD
CY2014 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
0 USD
CY2012 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
57418000 USD
CY2013 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
0 USD
CY2014 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
0 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
55159000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
153918000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
153918000 USD
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-28490000 USD
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8875000 USD
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
136124000 USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.24
CY2013 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.52
CY2014 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.64
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
99645000 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100620000 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
86600000 shares
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
283011000 USD
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
336319000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
290776000 USD
CY2012 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
293521000 USD
CY2013 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
346246000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
300001000 USD
CY2012 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
9143000 USD
CY2013 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
71000 USD
CY2014 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0 USD
CY2012 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
256430000 USD
CY2013 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
285691000 USD
CY2014 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
305308000 USD
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1208000 USD
CY2013 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1826000 USD
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1903000 USD
CY2014Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
250000000 USD
CY2014Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0359
CY2014Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0350
CY2014Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.044
CY2013Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
43800000 USD
CY2014Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
56100000 USD
CY2014Q4 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Undistributed Earnings Of Domestic Subsidiaries
DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityUndistributedEarningsOfDomesticSubsidiaries
0 USD
CY2012 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2200000 USD
CY2013 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2200000 USD
CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2200000 USD
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
194673000 USD
CY2013 us-gaap Depreciation And Amortization
DepreciationAndAmortization
214395000 USD
CY2014 us-gaap Depreciation And Amortization
DepreciationAndAmortization
235634000 USD
CY2012 us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
15199000 USD
CY2013 us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
5255000 USD
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
209872000 USD
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
219650000 USD
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
235634000 USD
CY2012 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
185720000 USD
CY2013 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
199650000 USD
CY2014 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
211253000 USD
CY2012 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
115068000 USD
CY2013Q1 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
31783000 USD
CY2013Q2 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
24866000 USD
CY2013Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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34410000 USD
CY2013Q4 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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91101000 USD
CY2013 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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182160000 USD
CY2014 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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0 USD
CY2013Q1 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
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0.37
CY2013Q2 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
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0.29
CY2013Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
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0.39
CY2013Q4 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
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1.04
CY2013Q1 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
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0.36
CY2013Q2 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
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0.28
CY2013Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
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0.39
CY2013Q4 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
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1.03
CY2012 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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17406000 USD
CY2013 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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8515000 USD
CY2014 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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0 USD
CY2012 us-gaap Disposal Group Including Discontinued Operation Interest Expense
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36000 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Interest Expense
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0 USD
CY2012 us-gaap Disposal Group Including Discontinued Operation Operating Expense
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27557000 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Operating Expense
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10552000 USD
CY2012 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
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32641000 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
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13770000 USD
CY2012 us-gaap Disposal Group Including Discontinued Operation Revenue
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60198000 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Revenue
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24322000 USD
CY2012 us-gaap Dividends Common Stock Cash
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198900000 USD
CY2013 us-gaap Dividends Common Stock Cash
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226924000 USD
CY2014 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
240185000 USD
CY2012Q4 us-gaap Dividends Payable Current And Noncurrent
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49969000 USD
CY2013Q4 us-gaap Dividends Payable Current And Noncurrent
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56787000 USD
CY2014Q4 us-gaap Dividends Payable Current And Noncurrent
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60386000 USD
CY2014Q4 us-gaap Earnest Money Deposits
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1300000 USD
CY2012 us-gaap Earnings Per Share Basic
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3.35
CY2013Q1 us-gaap Earnings Per Share Basic
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0.72
CY2013Q2 us-gaap Earnings Per Share Basic
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0.82
CY2013Q3 us-gaap Earnings Per Share Basic
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0.80
CY2013Q4 us-gaap Earnings Per Share Basic
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1.47
CY2013 us-gaap Earnings Per Share Basic
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3.82
CY2014Q1 us-gaap Earnings Per Share Basic
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0.45
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2014Q3 us-gaap Earnings Per Share Basic
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0.43
CY2014Q4 us-gaap Earnings Per Share Basic
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1.99
CY2014 us-gaap Earnings Per Share Basic
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3.29
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3.30
CY2013Q1 us-gaap Earnings Per Share Diluted
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0.72
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.81
CY2014Q1 us-gaap Earnings Per Share Diluted
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0.45
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2013Q3 us-gaap Earnings Per Share Diluted
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0.79
CY2013Q4 us-gaap Earnings Per Share Diluted
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1.46
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.78
CY2014Q3 us-gaap Earnings Per Share Diluted
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0.43
CY2014Q4 us-gaap Earnings Per Share Diluted
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1.98
CY2014 us-gaap Earnings Per Share Diluted
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3.27
CY2012 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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1400000 USD
CY2013 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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2200000 USD
CY2014 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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2700000 USD
CY2012 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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300000 USD
CY2013 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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200000 USD
CY2014 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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500000 USD
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6321000 USD
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8884000 USD
CY2014 us-gaap Equity Method Investment Dividends Or Distributions
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7399000 USD
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0.20
CY2014Q4 us-gaap Equity Method Investment Ownership Percentage
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0.313
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790200000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
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757800000 USD
CY2013Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
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229600000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
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203300000 USD
CY2013Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
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530700000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
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523600000 USD
CY2012 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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50500000 USD
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120700000 USD
CY2014 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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26900000 USD
CY2012 us-gaap Equity Method Investment Summarized Financial Information Revenue
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91600000 USD
CY2013 us-gaap Equity Method Investment Summarized Financial Information Revenue
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93900000 USD
CY2014 us-gaap Equity Method Investment Summarized Financial Information Revenue
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105600000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1100000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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2500000 USD
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2300000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
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3000000 USD
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1200000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
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500000 USD
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0 USD
CY2013 us-gaap Gain Loss On Disposition Of Assets
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698000 USD
CY2014 us-gaap Gain Loss On Disposition Of Assets
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159289000 USD
CY2014Q4 us-gaap Gain Loss On Sale Of Properties
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155680000 USD
CY2014 us-gaap Gain Loss On Sale Of Properties
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155700000 USD
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37528000 USD
CY2013 us-gaap General And Administrative Expense
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40586000 USD
CY2014 us-gaap General And Administrative Expense
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51005000 USD
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0 USD
CY2012 us-gaap Impairment Of Real Estate
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0 USD
CY2013 us-gaap Impairment Of Real Estate
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0 USD
CY2014Q2 us-gaap Impairment Of Real Estate
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1152000 USD
CY2014 us-gaap Impairment Of Real Estate
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1152000 USD
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154116000 USD
CY2013 us-gaap Income Loss From Continuing Operations
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151594000 USD
CY2014 us-gaap Income Loss From Continuing Operations
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292089000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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162634000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
157442000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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303217000 USD
CY2012 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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161426000 USD
CY2013 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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155616000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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301314000 USD
CY2012 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.81
CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.70
CY2014 us-gaap Income Loss From Continuing Operations Per Basic Share
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3.29
CY2012 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.79
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.69
CY2014 us-gaap Income Loss From Continuing Operations Per Diluted Share
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3.27
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax
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132474000 USD
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190675000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
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3200000 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
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5905000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
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0 USD
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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129274000 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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184770000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
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1.54
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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2.12
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0.00
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1.51
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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2.09
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2012 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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20175000 USD
CY2013 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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24865000 USD
CY2014 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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7023000 USD
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CY2013 us-gaap Income Tax Reconciliation Deductions Dividends
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CY2014 us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
-302572000 USD
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IncomeTaxReconciliationOtherAdjustments
40961000 USD
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
9427000 USD
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
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-8805000 USD
CY2012 us-gaap Income Taxes Paid
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1561000 USD
CY2013 us-gaap Income Taxes Paid
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2114000 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
1658000 USD
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2320000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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19296000 USD
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2586000 USD
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9859000 USD
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CY2014 us-gaap Increase Decrease In Operating Capital
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2443000 USD
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2639000 USD
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2145000 USD
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-816000 USD
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22139000 USD
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5640000 USD
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7165000 USD
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4009000 USD
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1137000 shares
CY2013 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
814000 shares
CY2014 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2012 us-gaap Interest Costs Capitalized
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12500000 USD
CY2013 us-gaap Interest Costs Capitalized
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15400000 USD
CY2014 us-gaap Interest Costs Capitalized
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21800000 USD
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104246000 USD
CY2013 us-gaap Interest Expense
InterestExpense
98129000 USD
CY2014 us-gaap Interest Expense
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93263000 USD
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106405000 USD
CY2013 us-gaap Interest Paid Net
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98101000 USD
CY2014 us-gaap Interest Paid Net
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86711000 USD
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5629904000 USD
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5890498000 USD
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42155000 USD
CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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36429000 USD
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969711000 USD
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Land
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2600000 USD
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2800000 USD
CY2014 us-gaap Lease And Rental Expense
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3000000 USD
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12200000 USD
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CY2014Q4 us-gaap Liabilities
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3100364000 USD
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5632141000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
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6056907000 USD
CY2012 us-gaap Liabilities Assumed1
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6976000 USD
CY2013 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 USD
CY2014 us-gaap Liabilities Assumed1
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0 USD
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646500000 USD
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177400000 USD
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249000000 USD
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2000000 USD
CY2012 us-gaap Management Fees Revenue
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12345000 USD
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11690000 USD
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9832000 USD
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72807000 USD
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16482000 USD
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174928000 USD
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CY2014 us-gaap Net Cash Provided By Used In Financing Activities
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43482000 USD
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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324267000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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404291000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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418528000 USD
CY2012 us-gaap Net Income Loss
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283390000 USD
CY2013Q1 us-gaap Net Income Loss
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63476000 USD
CY2013Q2 us-gaap Net Income Loss
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72172000 USD
CY2013Q3 us-gaap Net Income Loss
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70720000 USD
CY2013Q4 us-gaap Net Income Loss
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129996000 USD
CY2013 us-gaap Net Income Loss
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336364000 USD
CY2014Q1 us-gaap Net Income Loss
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40036000 USD
CY2014Q2 us-gaap Net Income Loss
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35272000 USD
CY2014Q3 us-gaap Net Income Loss
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38283000 USD
CY2014Q4 us-gaap Net Income Loss
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178498000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
292089000 USD
CY2012 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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4459000 USD
CY2013 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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4022000 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9225000 USD
CY2012 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
776000 USD
CY2013 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
0 USD
CY2014 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
0 USD
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
280606000 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
333187000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
289402000 USD
CY2012 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
282590000 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
334320000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
289402000 USD
CY2012 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
16482000 USD
CY2013 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
0 USD
CY2014 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
0 USD
CY2013Q4 us-gaap Notes Payable
NotesPayable
2530800000 USD
CY2014Q4 us-gaap Notes Payable
NotesPayable
2743500000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2400000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2300000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2500000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2700000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2700000 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
13100000 USD
CY2012 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
602004000 USD
CY2013 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
683362000 USD
CY2014 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
731874000 USD
CY2014Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
21500000 USD
CY2013Q4 us-gaap Other Assets
OtherAssets
109401000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
124888000 USD
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-379000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-44000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1313000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
409000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
99000 USD
CY2014 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
970000 USD
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2013 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-417000 USD
CY2013Q4 us-gaap Other Liabilities
OtherLiabilities
88272000 USD
CY2014Q4 us-gaap Other Liabilities
OtherLiabilities
100058000 USD
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-710000 USD
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1217000 USD
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
842000 USD
CY2012 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
96314000 USD
CY2013 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
105489000 USD
CY2014 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
112104000 USD
CY2012 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
21796000 USD
CY2013 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
21774000 USD
CY2014 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
22689000 USD
CY2012 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2784000 USD
CY2013 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3177000 USD
CY2014 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2687000 USD
CY2012 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
4050000 USD
CY2013 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-586000 USD
CY2014 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1335000 USD
CY2012 us-gaap Payments Of Dividends
PaymentsOfDividends
189018000 USD
CY2013 us-gaap Payments Of Dividends
PaymentsOfDividends
220083000 USD
CY2014 us-gaap Payments Of Dividends
PaymentsOfDividends
236514000 USD
CY2012 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3737000 USD
CY2013 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3165000 USD
CY2014 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3136000 USD
CY2012 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
7006000 USD
CY2013 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
1886000 USD
CY2014 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
1000000 USD
CY2013Q2 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
25800000 USD
CY2014Q1 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
15600000 USD
CY2014Q2 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
23800000 USD
CY2012 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
4787000 USD
CY2013 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
17497000 USD
CY2014 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
4695000 USD
CY2012 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
465400000 USD
CY2013 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
224109000 USD
CY2014 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
62260000 USD
CY2012 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
290728000 USD
CY2013 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
356815000 USD
CY2014 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
503328000 USD
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q3 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
245700000 USD
CY2012 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
17417000 USD
CY2013 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
11295000 USD
CY2014 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
6350000 USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
693355000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
40044000 USD
CY2014 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
66225000 USD
CY2012 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
20933000 USD
CY2013 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
20195000 USD
CY2014 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
19310000 USD
CY2012 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
603000000 USD
CY2013 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
952900000 USD
CY2014 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2246000000 USD
CY2012 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
346308000 USD
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
249535000 USD
CY2014 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
248078000 USD
CY2012 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1625000 USD
CY2013 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1417000 USD
CY2014 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2273000 USD
CY2014Q3 us-gaap Proceeds From Sale Of Land Heldforinvestment
ProceedsFromSaleOfLandHeldforinvestment
800000 USD
CY2014 us-gaap Proceeds From Sale Of Land Heldforinvestment
ProceedsFromSaleOfLandHeldforinvestment
22900000 USD
CY2012 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
226869000 USD
CY2013 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
323755000 USD
CY2014 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
0 USD
CY2014Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
65600000 USD
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
13038000 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2458000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1149000 USD
CY2012 us-gaap Profit Loss
ProfitLoss
293900000 USD
CY2013 us-gaap Profit Loss
ProfitLoss
346291000 USD
CY2014 us-gaap Profit Loss
ProfitLoss
301314000 USD
CY2011Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1432799000 USD
CY2012Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1518896000 USD
CY2013Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1643713000 USD
CY2014Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1738862000 USD
CY2012 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
26984000 USD
CY2013 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
0 USD
CY2014 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
40064000 USD
CY2012 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
72465000 USD
CY2013 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
79080000 USD
CY2014 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
94043000 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
905628000 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
6435994000 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
985522000 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
672409000 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
5763585000 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
985522000 USD
CY2012 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
176872000 USD
CY2013 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
197153000 USD
CY2014 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
172475000 USD
CY2014Q4 us-gaap Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
6400000000 USD
CY2011Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
5819540000 USD
CY2012Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
6673914000 USD
CY2013Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7072181000 USD
CY2014Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7421516000 USD
CY2013Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2014Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
27143000 USD
CY2012 us-gaap Real Estate Improvements
RealEstateImprovements
60426000 USD
CY2013 us-gaap Real Estate Improvements
RealEstateImprovements
67049000 USD
CY2014 us-gaap Real Estate Improvements
RealEstateImprovements
58233000 USD
CY2013Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1643713000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1738862000 USD
CY2012 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
797477000 USD
CY2013 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
221421000 USD
CY2014 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
61736000 USD
CY2012 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
698318000 USD
CY2013Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
189811000 USD
CY2013Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
194983000 USD
CY2013Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
199740000 USD
CY2013Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
204317000 USD
CY2013 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
788851000 USD
CY2014Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
205929000 USD
CY2014Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
208492000 USD
CY2014Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
213098000 USD
CY2014Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
216459000 USD
CY2014 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
843978000 USD
CY2012 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
70710000 USD
CY2013 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
86041000 USD
CY2014 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
94055000 USD
CY2012 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
603000000 USD
CY2013 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
952900000 USD
CY2014 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2246000000 USD
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
567575000 USD
CY2013 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
230288000 USD
CY2014 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
36340000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6599000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5898000 USD
CY2012 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
185546000 USD
CY2013 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
203897000 USD
CY2014 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
229256000 USD
CY2013Q4 us-gaap Secured Debt
SecuredDebt
941968000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
905628000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
13086000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
14063000 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
15552000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
20279 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
72174 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
21597 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
52.05
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
58.08
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
64.14
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
346330 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
350615 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
314614 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
63.51
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
69.56
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
65.78
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
818754 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
862253 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
831298 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
818943 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
46.88
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
52.64
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
59.77
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
63.39
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
282552 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
309396 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
305372 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
49.28
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
51.41
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
55.97
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.035
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.232
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.226
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.011
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.001
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
31943 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
20522 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
21686 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014 cpt Basis Of Presentation Summary Of Significant Accounting Policies And Recent Accounting Pronouncements
BasisOfPresentationSummaryOfSignificantAccountingPoliciesAndRecentAccountingPronouncements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2. Summary of Significant Accounting Policies and Recent Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Principles of Consolidation</font><font style="font-family:inherit;font-size:10pt;">. Our consolidated financial statements include our accounts and the accounts of other subsidiaries and joint ventures (including partnerships and limited liability companies) over which we have control. All intercompany transactions, balances, and profits have been eliminated in consolidation. Investments acquired or created are evaluated based on the accounting guidance relating to variable interest entities (&#8220;VIEs&#8221;), which requires the consolidation of VIEs in which we are considered to be the primary beneficiary. If the investment is determined not to be a VIE, then the investment is evaluated for consolidation (primarily using a voting interest model) under the remaining consolidation guidance relating to real estate entities. If we are the general partner of a limited partnership, or manager of a limited liability company, we also consider the consolidation guidance relating to the rights of limited partners (non-managing members) to assess whether any rights held by the limited partners overcome the presumption of control by us. We did not have any interests in VIEs at December 31, 2014 or 2013.</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Acquisitions of Real Estate</font><font style="font-family:inherit;font-size:10pt;">. Upon acquisition of real estate, we determine the fair value of tangible and intangible assets, which includes land, buildings (as-if-vacant), furniture and fixtures, the value of in-place leases, including above and below market leases, and acquired liabilities. In estimating these values, we apply methods similar to those used by independent appraisers of income-producing property. Upon the acquisition of a controlling interest of an investment in an unconsolidated joint venture, such joint venture is consolidated and our initial equity investment is remeasured to fair value at the date the controlling interest is acquired; any difference between the carrying value of the previously held equity investment and the fair value is recognized in earnings at the time of obtaining control. Transaction costs associated with the acquisition of operating real estate assets are expensed. Estimates of fair value of acquired debt are based upon interest rates available for the issuance of debt with similar terms and remaining maturities. Depreciation is computed on a straight-line basis over the remaining useful lives of the related tangible assets. The value of in-place leases and above or below market leases is amortized over the estimated average remaining life of leases in place at the time of acquisition. The net carrying value of below market leases is included in other liabilities in our consolidated balance sheets and the net carrying value of in-place leases is included in other assets, net in our consolidated balance sheets. </font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The carrying values of below market leases and in-place leases at </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;"> are as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="71%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="12%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="12%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;text-decoration:underline;">(in millions)</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2014</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2013</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Below market leases (Gross carrying value)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.2</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Value of below market leases, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place leases (Gross carrying value)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2.5</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Value of in-place leases, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues recognized related to below market leases and amortization expense related to in-place leases for the years ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;color:#000000;">2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;">2012</font><font style="font-family:inherit;font-size:10pt;"> are as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13" rowspan="1"></td></tr><tr><td width="61%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;text-decoration:underline;">(in millions)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2014</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2013</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2012</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues related to below market leases</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of in-place leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13.1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The weighted average amortization period of below market leases and in-place leases was approximately </font><font style="font-family:inherit;font-size:10pt;">seven</font><font style="font-family:inherit;font-size:10pt;"> months for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> months for the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and 2012.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Asset Impairment</font><font style="font-family:inherit;font-size:10pt;">. Long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Impairment may exist if estimated future undiscounted cash flows associated with long-lived assets are not sufficient to recover the carrying value of such assets. We consider projected future discounted and undiscounted cash flows, trends, strategic decisions regarding future development plans, and other factors in our assessment of whether impairment conditions exist. While we believe our estimates of future cash flows are reasonable, different assumptions regarding a number of factors, including market rents, economic conditions, and occupancies could significantly affect these estimates. In estimating fair value, management uses appraisals, management estimates, and discounted cash flow calculations which utilize inputs from a marketplace participant&#8217;s perspective. When impairment exists, the long-lived asset is adjusted to its fair value. In addition, we evaluate our equity investments in joint ventures and if we believe there is an other than temporary decline in market value of our investment below our carrying value, we will record an impairment charge. We did not record any impairment charges for the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;">2012</font><font style="font-family:inherit;font-size:10pt;">. See Note 7, "Acquisitions, Dispositions, Impairment, Assets Held for Sale, and Discontinued Operations," for discussion of impairment during the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The value of our properties under development depends on market conditions, including estimates of the project start date as well as estimates of demand for multifamily communities. We have reviewed market trends and other marketplace information and have incorporated this information as well as our current outlook into the assumptions we use in our impairment analyses. Due to the judgment and assumptions applied in the impairment analyses, it is possible actual results could differ substantially from those estimated.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We believe the carrying value of our operating real estate assets, properties under development, and land is currently recoverable. However, if market conditions deteriorate or if changes in our development strategy significantly affect any key assumptions used in our fair value estimates, we may need to take material charges in future periods for impairments related to existing assets. Any such material non-cash charges could have an adverse effect on our consolidated financial position and results of operations.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Cash and Cash Equivalents</font><font style="font-family:inherit;font-size:10pt;">. All cash and investments in money market accounts and other highly liquid securities with a maturity of three months or less at the date of purchase are considered to be cash and cash equivalents. We maintain the majority of our cash and cash equivalents at major financial institutions in the United States and deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, we regularly monitor the financial stability of these financial institutions and believe we are not currently exposed to any significant default risk with respect to these deposits.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Cost Capitalization</font><font style="font-family:inherit;font-size:10pt;">. Real estate assets are carried at cost plus capitalized carrying charges. Carrying charges are primarily interest and real estate taxes which are capitalized as part of properties under development. Capitalized interest is generally based on the weighted average interest rate of our unsecured debt. Expenditures directly related to the development and improvement of real estate assets are capitalized at cost as land and buildings and improvements. Indirect development costs, including salaries and benefits and other related costs directly attributable to the development of properties, are also capitalized. We begin capitalizing development, construction, and carrying costs when the development of the future real estate asset is probable and activities necessary to prepare the underlying real estate for its intended use have been initiated. All construction and carrying costs are capitalized and reported in the balance sheet as properties under development until the apartment homes are substantially completed. Upon substantial completion of the apartment homes, the total capitalized development cost for the apartment homes and the associated land is transferred to buildings and improvements and land, respectively.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As discussed above, carrying charges are principally interest and real estate taxes capitalized as part of properties under development. Capitalized interest was approximately </font><font style="font-family:inherit;font-size:10pt;">$21.8 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$15.4 million</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">$12.5 million</font><font style="font-family:inherit;font-size:10pt;"> for the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2012</font><font style="font-family:inherit;font-size:10pt;">, respectively. Capitalized real estate taxes were approximately </font><font style="font-family:inherit;font-size:10pt;">$4.4 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$3.0 million</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">$2.8 million</font><font style="font-family:inherit;font-size:10pt;"> for the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2012</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Where possible, we stage our construction to allow leasing and occupancy during the construction period, which we believe minimizes the duration of the lease-up period following completion of construction. Our accounting policy related to properties in the development and leasing phase is to expense all operating expenses associated with completed apartment homes. We capitalize renovation and improvement costs we believe extend the economic lives of depreciable property. Capital expenditures subsequent to initial construction are capitalized and depreciated over their estimated useful lives.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We also incur expenditures related to renovation and construction of office space we lease and we capitalize these leasehold improvements as furniture, fixtures, equipment and other. We depreciate these costs using the straight-line method over the shorter of the lease term or the useful life of the improvement. During the third quarter of 2013, we relocated our corporate headquarters. In conjunction with this relocation, we capitalized approximately </font><font style="font-family:inherit;font-size:10pt;">$12.2 million</font><font style="font-family:inherit;font-size:10pt;"> related to leasehold improvements which is depreciated over the life of our new lease.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization is computed over the expected useful lives of depreciable property on a straight-line basis with lives generally as follows:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td width="80%" rowspan="1" colspan="1"></td><td width="20%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Useful&#160; Life</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5-35 years</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Furniture, fixtures, equipment and other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3-20 years</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intangible assets/liabilities (in-place leases and below market leases)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">underlying&#160;lease&#160;term</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Discontinued Operations</font><font style="font-family:inherit;font-size:10pt;">. We adopted ASU 2014-08 on January 1, 2014, as discussed below in "Recent Accounting Pronouncements," and do not believe individual operating properties will generally be considered discontinued operations. Prior to January 1, 2014 a property was classified as a discontinued operation when (i)&#160;the operations and cash flows of the property could be clearly distinguished and had been or would be eliminated from our ongoing operations; (ii)&#160;the property either had been disposed of or was classified as held for sale; and (iii)&#160;we would not have any significant continuing involvement in the operations of the property after the disposal transaction. </font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The results of operations for properties sold during the period or classified as held for sale at the end of the current period, and meeting the above criteria of discontinued operations, are classified as discontinued operations in the current and prior periods. The property-specific components of earnings classified as discontinued operations include separately identifiable property-specific revenues, expenses, depreciation, and interest expense, if any. The gain or loss resulting from the eventual disposal of the held for sale properties meeting the criteria of discontinued operations is also classified within discontinued operations. Real estate assets held for sale are measured at the lower of carrying amount or fair value less costs to sell and are presented separately in the accompanying consolidated balance sheets. Subsequent to classification of a property as held for sale, no further depreciation is recorded. Properties sold by our unconsolidated entities which do not meet the above criteria of discontinued operations are not included in discontinued operations and related gains or losses are reported as a component of equity in income of joint ventures.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gains on sale of real estate are recognized using the full accrual or partial sale methods, as applicable, in accordance with accounting principles generally accepted in the United States of America ("GAAP"), provided various criteria relating to the terms of sale and any subsequent involvement with the real estate sold are satisfied.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> There were no disposals reported as discontinued operations for the year ended December 31, 2014.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value</font><font style="font-family:inherit;font-size:10pt;">. For financial assets and liabilities recorded at fair value on a recurring or non-recurring basis, fair value is the price we would receive to sell an asset, or pay to transfer a liability, in an orderly transaction with a market participant at the measurement date. In the absence of such data, fair value is estimated using internal information consistent with what market participants would use in a hypothetical transaction.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In determining fair value, observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions; preference is given to observable inputs. These two types of inputs create the following fair value hierarchy:</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:36px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Level 1: Quoted prices for identical instruments in active markets.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:36px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:36px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Level 3: Significant inputs to the valuation model are unobservable.</font></div></td></tr></table><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recurring Fair Value Disclosures.</font><font style="font-family:inherit;font-size:10pt;"> The valuation methodology we use to measure our deferred compensation plan investments is based on quoted market prices utilizing public information for the same transactions. Our deferred compensation plan investments are recorded at fair value on a recurring basis and included in other assets in our consolidated balance sheets.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Non-recurring Fair Value Disclosures.</font><font style="font-family:inherit;font-size:10pt;"> Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments in certain circumstances. These assets primarily include long-lived assets which are recorded at fair value if they are impaired using the fair value methodologies used to measure long-lived assets described above at "Asset Impairment." Non-recurring fair value disclosures are not provided for impairments on assets disposed during the period because they are no longer owned by us.&#160;The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy, unless a quoted price for a similar long-lived asset in an active market exists, at which time they are included in Level 2 of the fair value hierarchy.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Recognition</font><font style="font-family:inherit;font-size:10pt;">. Our rental and other property revenue is recorded when due from residents and is recognized monthly as it is earned. Other property revenue consists primarily of utility rebillings and administrative, application, and other transactional fees charged to our residents. Our apartment homes are rented to residents on lease terms generally ranging from six to fifteen months, with monthly payments due in advance. All other sources of income, including interest and fee and asset management income, are recognized as earned. Operations of multifamily properties acquired are recorded from the date of acquisition in accordance with the acquisition method of accounting. In management&#8217;s opinion, due to the number of residents, the types and diversity of submarkets in which our properties operate, and the collection terms, there is no significant concentration of credit risk.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recent Accounting Pronouncements. </font><font style="font-family:inherit;font-size:10pt;">In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-08 ("ASU 2014-08"), </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." </font><font style="font-family:inherit;font-size:10pt;">ASU 2014-08 changes the threshold for disclosing discontinued operations and the related disclosure requirements, requiring only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, to be presented as a discontinued operation. If the disposal does qualify as a discontinued operation under ASU 2014-08, the entity will be required to provide expanded disclosures. The guidance will be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. ASU 2014-08 is effective for annual periods beginning on or after December 15, 2014 with early adoption permitted but only for disposals or classifications as held for sale which have not been reported in financial statements previously issued or available for issuance. We adopted ASU 2014-08 as of January 1, 2014 and generally believe future sales of our individual operating properties will no longer qualify as discontinued operations.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued Accounting Standards Update 2014-09 ("ASU 2014-09"), </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Revenue from Contracts with Customers (Topic 606)." </font><font style="font-family:inherit;font-size:10pt;">ASU 2014-09 provides a single comprehensive revenue recognition model for contracts with customers (excluding certain contracts, such as lease contracts) to improve comparability within industries. ASU 2014-09 requires an entity to recognize revenue to reflect the transfer of goods or services to customers at an amount the entity expects to be paid in exchange for those goods and services and provide enhanced disclosures, all to provide more comprehensive guidance for transactions such as service revenue and contract modifications. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2016 and may be applied using either a full retrospective or a modified approach upon adoption. We expect to adopt ASU 2014-09 as of January 1, 2017 and are currently evaluating the impact this standard may have on our financial statements.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Insurance</font><font style="font-family:inherit;font-size:10pt;">. Our primary lines of insurance coverage are property, general liability, and health and workers&#8217; compensation. We believe our insurance coverage adequately insures our properties against the risk of loss attributable to fire, earthquake, hurricane, tornado, flood, and other perils and adequately insures us against other risks. Losses are accrued based upon our estimates of the aggregate liability for claims incurred using certain actuarial assumptions followed in the insurance industry and based on our experience.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Other Assets, Net</font><font style="font-family:inherit;font-size:10pt;">. Other assets in our consolidated financial statements include investments under deferred compensation plans, deferred financing costs, non-real estate leasehold improvements and equipment, prepaid expenses, the value of in-place leases net of related accumulated amortization, and other miscellaneous receivables. Investments under deferred compensation plans are classified as trading securities and are adjusted to fair market value at period end. For a further discussion of our investments under deferred compensation plans, see Note 10, &#8220;Share-based Compensation and Benefit Plans.&#8221; Deferred financing costs are amortized no longer than the terms of the related debt on the straight-line method, which approximates the effective interest method. Corporate leasehold improvements and equipment are depreciated using the straight-line method over the shorter of the expected useful lives or the lease terms which generally range from three to ten years. Our available-for-sale investments are carried at fair value with unrealized gains and losses included in accumulated other comprehensive income (loss), a separate component of shareholders&#8217; equity.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reportable Segments</font><font style="font-family:inherit;font-size:10pt;">. We operate in a single reportable segment which includes the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Each of our operating properties is considered a separate operating segment as each property earns revenues and incurs expenses, individual operating results are reviewed and discrete financial information is available. We do not distinguish or group our consolidated operations based on geography, size or type. Our multifamily apartment communities have similar long-term economic characteristics and provide similar products and services to our residents. Further, all material operations are within the United States and no multifamily apartment community comprises more than 10% of consolidated revenues. As a result, our operating properties are aggregated into a single reportable segment. Our multifamily communities generate rental revenue and other income through the leasing of apartment homes, which comprised approximately </font><font style="font-family:inherit;font-size:10pt;">99%</font><font style="font-family:inherit;font-size:10pt;"> of our total property revenues and total non-property income, excluding income on deferred compensation plans for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">98%</font><font style="font-family:inherit;font-size:10pt;"> for each of the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2012</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Restricted Cash</font><font style="font-family:inherit;font-size:10pt;">. Restricted cash consists of escrow deposits held by lenders for property taxes, insurance and replacement reserves, cash required to be segregated for the repayment of residents&#8217; security deposits, and escrowed amounts related to our development and acquisition activities. Substantially all restricted cash is invested in demand and short-term instruments.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Share-based Compensation</font><font style="font-family:inherit;font-size:10pt;">. Compensation expense associated with share-based awards is recognized in our consolidated statements of income and comprehensive income using the grant-date fair values. Compensation cost for all share-based awards, including options, requires measurement at estimated fair value on the grant date and recognition of compensation expense over the requisite service period for awards expected to vest. The fair value of stock option grants is estimated using the Black-Scholes valuation model. Valuation models require the input of assumptions, including judgments to estimate the expected stock price volatility, expected life, and forfeiture rate. The compensation cost for share-based awards is based on the market value of the shares on the date of grant.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;">. In the application of GAAP, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities at the date of the financial statements, results of operations during the reporting periods, and related disclosures. Our more significant estimates include estimates supporting our impairment analysis related to the carrying values of our real estate assets. These estimates are based on historical experience and other assumptions believed to be reasonable under the circumstances. Future events rarely develop exactly as forecasted, and the best estimates routinely require adjustment.</font></div></div>
CY2014 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1. Description of Business</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business.</font><font style="font-family:inherit;font-size:10pt;"> Formed on May&#160;25, 1993, Camden Property Trust, a Texas real estate investment trust (&#8220;REIT&#8221;), is primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Our multifamily apartment communities are referred to as &#8220;communities,&#8221; &#8220;multifamily communities,&#8221; &#8220;properties,&#8221; or &#8220;multifamily properties&#8221; in the following discussion. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, we owned interests in, operated, or were developing </font><font style="font-family:inherit;font-size:10pt;">181</font><font style="font-family:inherit;font-size:10pt;"> multifamily properties comprised of </font><font style="font-family:inherit;font-size:10pt;">63,163</font><font style="font-family:inherit;font-size:10pt;"> apartment homes across the United States. Of the </font><font style="font-family:inherit;font-size:10pt;">181</font><font style="font-family:inherit;font-size:10pt;"> properties, </font><font style="font-family:inherit;font-size:10pt;">13</font><font style="font-family:inherit;font-size:10pt;"> properties were under construction, and when completed will consist of a total of </font><font style="font-family:inherit;font-size:10pt;">4,215</font><font style="font-family:inherit;font-size:10pt;"> apartment homes. We also own land holdings which we may develop into multifamily apartment communities in the future.</font></div></div>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;">. In the application of GAAP, management is required to make estimates and assumptions which affect the reported amounts of assets and liabilities at the date of the financial statements, results of operations during the reporting periods, and related disclosures. Our more significant estimates include estimates supporting our impairment analysis related to the carrying values of our real estate assets. These estimates are based on historical experience and other assumptions believed to be reasonable under the circumstances. Future events rarely develop exactly as forecasted, and the best estimates routinely require adjustment.</font></div></div>

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