2015 Q4 Form 10-K Financial Statement

#000090634516000044 Filed on February 19, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4 2014 Q3
Revenue $215.0M $216.5M $213.1M
YoY Change -0.68% 5.94% 6.69%
Cost Of Revenue $82.00M $83.60M $85.30M
YoY Change -1.91% 10.73% 7.16%
Gross Profit $133.0M $132.9M $127.8M
YoY Change 0.08% 8.67% 6.41%
Gross Profit Margin 61.86% 61.4% 59.97%
Selling, General & Admin $13.10M $20.60M $10.30M
YoY Change -36.41% 123.91% 3.0%
% of Gross Profit 9.85% 15.5% 8.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.60M $61.10M $59.20M
YoY Change 0.82% 8.91% 6.09%
% of Gross Profit 46.32% 45.97% 46.32%
Operating Expenses $72.80M $79.20M $67.40M
YoY Change -8.08% 30.91% 10.13%
Operating Profit $60.20M $53.70M $60.40M
YoY Change 12.1% -13.11% 2.55%
Interest Expense -$21.80M -$24.10M $22.97M
YoY Change -9.54% 15.87% -5.39%
% of Operating Profit -36.21% -44.88% 38.02%
Other Income/Expense, Net
YoY Change
Pretax Income $57.40M $185.3M $39.69M
YoY Change -69.02% 351.95% 10.88%
Income Tax $500.0K $700.0K $400.0K
% Of Pretax Income 0.87% 0.38% 1.01%
Net Earnings $60.59M $178.5M $38.28M
YoY Change -66.05% 37.31% -45.87%
Net Earnings / Revenue 28.18% 82.46% 17.96%
Basic Earnings Per Share $0.67 $1.99 $0.43
Diluted Earnings Per Share $0.67 $1.98 $0.43
COMMON SHARES
Basic Shares Outstanding 86.86M shares 86.40M shares 88.15M shares
Diluted Shares Outstanding 89.35M shares

Balance Sheet

Concept 2015 Q4 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.60M $153.9M $66.10M
YoY Change -93.11% 764.61% 1306.38%
Cash & Equivalents $10.62M $153.9M $66.13M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $25.10M $26.00M $26.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $35.70M $179.9M $92.10M
YoY Change -80.16% 295.38% 186.02%
LONG-TERM ASSETS
Property, Plant & Equipment $5.607B $5.683B $5.655B
YoY Change -1.33% 4.68% 5.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $33.70M $36.40M $35.20M
YoY Change -7.42% -13.74% -18.71%
Other Assets $245.0M $33.00M $5.800M
YoY Change 642.42% 400.0% -95.15%
Total Long-Term Assets $6.002B $5.864B $5.820B
YoY Change 2.35% 4.97% 2.84%
TOTAL ASSETS
Total Short-Term Assets $35.70M $179.9M $92.10M
Total Long-Term Assets $6.002B $5.864B $5.820B
Total Assets $6.038B $6.044B $5.912B
YoY Change -0.11% 7.31% 3.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $133.4M $157.2M $147.3M
YoY Change -15.14% 38.75% 18.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $19.00M $249.8M
YoY Change -92.39%
Total Short-Term Liabilities $261.9M $506.5M $261.9M
YoY Change -48.29% 146.23% 13.23%
LONG-TERM LIABILITIES
Long-Term Debt $2.706B $2.481B $2.744B
YoY Change 9.07% -1.98% 2.96%
Other Long-Term Liabilities $177.2M $168.2M $154.6M
YoY Change 5.35% 24.13% 32.36%
Total Long-Term Liabilities $2.883B $2.649B $2.899B
YoY Change 8.83% -0.65% 4.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $261.9M $506.5M $261.9M
Total Long-Term Liabilities $2.883B $2.649B $2.899B
Total Liabilities $3.065B $3.087B $3.100B
YoY Change -0.72% 9.3% 4.52%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.663B $3.667B $3.650B
YoY Change -0.12% 1.98% 1.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $386.8M $396.6M $397.5M
YoY Change -2.48% -3.32% -3.12%
Treasury Stock Shares 10.70M shares 10.98M shares 11.00M shares
Shareholders Equity $2.817B $2.816B $2.684B
YoY Change
Total Liabilities & Shareholders Equity $6.038B $6.044B $5.912B
YoY Change -0.11% 7.31% 3.88%

Cashflow Statement

Concept 2015 Q4 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $60.59M $178.5M $38.28M
YoY Change -66.05% 37.31% -45.87%
Depreciation, Depletion And Amortization $61.60M $61.10M $59.20M
YoY Change 0.82% 8.91% 6.09%
Cash From Operating Activities $105.5M $91.50M $133.0M
YoY Change 15.3% -3.38% 3.42%
INVESTING ACTIVITIES
Capital Expenditures -$83.50M -$112.5M -$122.8M
YoY Change -25.78% -199.91% -39.92%
Acquisitions
YoY Change
Other Investing Activities $22.20M $152.7M $6.900M
YoY Change -85.46% -38275.0% -168.32%
Cash From Investing Activities -$61.30M $40.20M -$115.9M
YoY Change -252.49% -64.2% -45.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -43.90M -43.90M 32.90M
YoY Change 0.0% -77.36% -60.93%
NET CHANGE
Cash From Operating Activities 105.5M 91.50M 133.0M
Cash From Investing Activities -61.30M 40.20M -115.9M
Cash From Financing Activities -43.90M -43.90M 32.90M
Net Change In Cash 300.0K 87.80M 50.00M
YoY Change -99.66% 570.23% -2877.78%
FREE CASH FLOW
Cash From Operating Activities $105.5M $91.50M $133.0M
Capital Expenditures -$83.50M -$112.5M -$122.8M
Free Cash Flow $189.0M $204.0M $255.8M
YoY Change -7.35% -1239.66% -23.18%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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RealEstateDevelopment
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1.40
CY2014 cpt Tax Treatment Of Dividends And Distributions Ordinary Dividends
TaxTreatmentOfDividendsAndDistributionsOrdinaryDividends
1.23
CY2015 cpt Tax Treatment Of Dividends And Distributions Ordinary Dividends
TaxTreatmentOfDividendsAndDistributionsOrdinaryDividends
1.88
CY2013 cpt Tax Treatment Of Dividends And Distributions Unrecaptured Section Twelve Hundred And Fifty Gain
TaxTreatmentOfDividendsAndDistributionsUnrecapturedSectionTwelveHundredAndFiftyGain
0.36
CY2015Q4 cpt Weighted Average Maturity Of Indebtedness Including Unsecured Line Of Credit
WeightedAverageMaturityOfIndebtednessIncludingUnsecuredLineOfCredit
5.7 Y
CY2015 dei Amendment Flag
AmendmentFlag
false
CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 cpt Total Non Property Income Loss
TotalNonPropertyIncomeLoss
21197000 USD
CY2014 cpt Total Non Property Income Loss
TotalNonPropertyIncomeLoss
14611000 USD
CY2015 cpt Total Non Property Income Loss
TotalNonPropertyIncomeLoss
7332000 USD
CY2015Q4 cpt Total Number Of Apartment Homes In Multifamily Communities
TotalNumberOfApartmentHomesInMultifamilyCommunities
62649
CY2015Q4 cpt Total Number Of Apartment Homes In Multifamily Properties Upon Completion Of Development
TotalNumberOfApartmentHomesInMultifamilyPropertiesUponCompletionOfDevelopment
2857
CY2013 cpt Total Other Expenses
TotalOtherExpenses
392478000 USD
CY2014 cpt Total Other Expenses
TotalOtherExpenses
415224000 USD
CY2015 cpt Total Other Expenses
TotalOtherExpenses
428866000 USD
CY2014Q4 cpt Trading Securities Held In Employee Trust Value
TradingSecuritiesHeldInEmployeeTrustValue
43700000 USD
CY2015Q4 cpt Trading Securities Held In Employee Trust Value
TradingSecuritiesHeldInEmployeeTrustValue
37100000 USD
CY2014Q4 cpt Trading Securities Held In Non Qualified Deferred Compensation Plan Value
TradingSecuritiesHeldInNonQualifiedDeferredCompensationPlanValue
27700000 USD
CY2015Q4 cpt Trading Securities Held In Non Qualified Deferred Compensation Plan Value
TradingSecuritiesHeldInNonQualifiedDeferredCompensationPlanValue
30800000 USD
CY2014Q4 cpt Unamortizeddebtdiscountsanddebtissuancecosts
Unamortizeddebtdiscountsanddebtissuancecosts
21800000 USD
CY2015Q4 cpt Unamortizeddebtdiscountsanddebtissuancecosts
Unamortizeddebtdiscountsanddebtissuancecosts
18600000 USD
CY2014Q4 cpt Value Of Real Estate Assets At Cost Subject To Secured Notes
ValueOfRealEstateAssetsAtCostSubjectToSecuredNotes
1541300000 USD
CY2015Q4 cpt Value Of Real Estate Assets At Cost Subject To Secured Notes
ValueOfRealEstateAssetsAtCostSubjectToSecuredNotes
1568900000 USD
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
CY2015 cpt Weighted Average Fair Value Of Shares Purchased Under Employee Share Purchase Plan
WeightedAverageFairValueOfSharesPurchasedUnderEmployeeSharePurchasePlan
74.66
CY2015 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0000906345
CY2016Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
86927591 shares
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2015Q2 dei Entity Public Float
EntityPublicFloat
6381496192 USD
CY2015 dei Entity Registrant Name
EntityRegistrantName
CAMDEN PROPERTY TRUST
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
157232000 USD
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
133353000 USD
CY2014Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
25977000 USD
CY2015Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
25100000 USD
CY2014Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
39149000 USD
CY2015Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
45223000 USD
CY2014Q4 us-gaap Accumulated Distributions In Excess Of Net Income
AccumulatedDistributionsInExcessOfNetIncome
453777000 USD
CY2015Q4 us-gaap Accumulated Distributions In Excess Of Net Income
AccumulatedDistributionsInExcessOfNetIncome
458577000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2419000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1913000 USD
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
CY2015 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P8M
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3667448000 USD
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3662864000 USD
CY2013 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1100000 USD
CY2014 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
200000 USD
CY2015 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
100000 USD
CY2013 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1700000 USD
CY2014 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1600000 USD
CY2015 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1700000 USD
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5600000 USD
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000 USD
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 USD
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
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2600000 shares
CY2014Q4 us-gaap Area Of Land
AreaOfLand
10.5 acre
CY2015Q4 us-gaap Area Of Land
AreaOfLand
58.1 acre
CY2013 us-gaap Asset Management Costs
AssetManagementCosts
5756000 USD
CY2014 us-gaap Asset Management Costs
AssetManagementCosts
5341000 USD
CY2015 us-gaap Asset Management Costs
AssetManagementCosts
4742000 USD
CY2014Q4 us-gaap Assets
Assets
6043981000 USD
CY2015Q4 us-gaap Assets
Assets
6037612000 USD
CY2014Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
400000 USD
CY2015Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
500000 USD
CY2014Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
500000 USD
CY2015Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
500000 USD
CY2014Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
100000 USD
CY2015Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
0 USD
CY2014 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
800000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
62700000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
51300000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
900000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
400000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
10500000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
400000 USD
CY2014Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
62300000 USD
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
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
153918000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10617000 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
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-143301000 USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2600000 USD
CY2013 us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
5255000 USD
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
221543000 USD
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
237346000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
257082000 USD
CY2013 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
1133000 USD
CY2014 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 USD
CY2015 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 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
CY2015 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
219831000 USD
CY2013 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
182160000 USD
CY2014 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
CY2015 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.80
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100620000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100636000 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
86900000 shares
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
336319000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
290776000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
249821000 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
CY2015 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
258768000 USD
CY2013 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Purchase Of Interest By Parent
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesPurchaseOfInterestByParent
0 USD
CY2014 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Purchase Of Interest By Parent
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesPurchaseOfInterestByParent
0 USD
CY2015 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Purchase Of Interest By Parent
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesPurchaseOfInterestByParent
9480000 USD
CY2013 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
285691000 USD
CY2014 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
305308000 USD
CY2015 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
321716000 USD
CY2013 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1826000 USD
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1903000 USD
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1872000 USD
CY2015Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.041
CY2014Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
56100000 USD
CY2015Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
53600000 USD
CY2015Q4 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Undistributed Earnings Of Domestic Subsidiaries
DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityUndistributedEarningsOfDomesticSubsidiaries
0 USD
CY2013 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2200000 USD
CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2200000 USD
CY2015 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
CY2013 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
8515000 USD
CY2014 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
0 USD
CY2015 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
0 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
10552000 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
13770000 USD
CY2013 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
24322000 USD
CY2013 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
226924000 USD
CY2014 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
240185000 USD
CY2015 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
257059000 USD
CY2013Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
56787000 USD
CY2014Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
60386000 USD
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
64275000 USD
CY2015Q4 us-gaap Earnest Money Deposits
EarnestMoneyDeposits
1500000 USD
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.82
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.99
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.29
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.77
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.78
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.98
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.27
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.76
CY2013 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2200000 USD
CY2014 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2700000 USD
CY2015 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3500000 USD
CY2013 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
200000 USD
CY2014 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
500000 USD
CY2015 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
200000 USD
CY2013 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
8884000 USD
CY2014 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
7399000 USD
CY2015 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
6387000 USD
CY2013Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.20
CY2014Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.313
CY2015Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.313
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
756900000 USD
CY2015Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
748000000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
203300000 USD
CY2015Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
195300000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
522700000 USD
CY2015Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
527000000 USD
CY2013 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
120700000 USD
CY2014 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
26900000 USD
CY2015 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
12000000 USD
CY2013 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
93900000 USD
CY2014 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
105600000 USD
CY2015 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
114500000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2500000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3000000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
500000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
0 USD
CY2013 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
698000 USD
CY2014 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
159289000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
104288000 USD
CY2013 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
698000 USD
CY2014 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
159289000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
104288000 USD
CY2014Q4 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
155680000 USD
CY2015Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
85192000 USD
CY2015Q4 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
18870000 USD
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
40586000 USD
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
51005000 USD
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
46233000 USD
CY2015Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
0 USD
CY2013 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2014Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
1152000 USD
CY2014 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
1152000 USD
CY2015 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2013 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
151594000 USD
CY2014 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
292089000 USD
CY2015 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
249315000 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
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
303217000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
260134000 USD
CY2013 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
155616000 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
301314000 USD
CY2015 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
258262000 USD
CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.70
CY2014 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.29
CY2015 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.77
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.69
CY2014 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.27
CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.76
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
190675000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
5905000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
0 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
0 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
184770000 USD
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
2.12
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
2.09
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2013 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
24865000 USD
CY2014 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
7023000 USD
CY2015 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
6168000 USD
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
2114000 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
1658000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
1889000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8138000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
19296000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-15528000 USD
CY2013 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-5901000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-1747000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-877000 USD
CY2013 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-21233000 USD
CY2014 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-22077000 USD
CY2015 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
5711000 USD
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2639000 USD
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2145000 USD
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1648000 USD
CY2013 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
22139000 USD
CY2014 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1666000 USD
CY2015 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2306000 USD
CY2013 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
7165000 USD
CY2014 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
4009000 USD
CY2015 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
6386000 USD
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
CY2015 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2013 us-gaap Interest And Other Income
InterestAndOtherIncome
1217000 USD
CY2014 us-gaap Interest And Other Income
InterestAndOtherIncome
842000 USD
CY2015 us-gaap Interest And Other Income
InterestAndOtherIncome
597000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
76339000 USD
CY2015 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
9500000 USD
CY2012Q4 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
3395000 USD
CY2013Q4 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
3395000 USD
CY2014Q4 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
3400000 USD
CY2014Q4 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
3395000 USD
CY2013 us-gaap Management Fees Revenue
ManagementFeesRevenue
11690000 USD
CY2014 us-gaap Management Fees Revenue
ManagementFeesRevenue
9832000 USD
CY2015 us-gaap Management Fees Revenue
ManagementFeesRevenue
6999000 USD
CY2014Q4 us-gaap Minority Interest
MinorityInterest
72807000 USD
CY2013 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
15700000 USD
CY2014 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
22200000 USD
CY2015 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
19300000 USD
CY2013 us-gaap Interest Expense
InterestExpense
99784000 USD
CY2014 us-gaap Interest Expense
InterestExpense
94906000 USD
CY2015 us-gaap Interest Expense
InterestExpense
97312000 USD
CY2013 us-gaap Interest Paid Net
InterestPaidNet
98101000 USD
CY2014 us-gaap Interest Paid Net
InterestPaidNet
86711000 USD
CY2015 us-gaap Interest Paid Net
InterestPaidNet
96179000 USD
CY2014Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5890498000 USD
CY2015Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
6284851000 USD
CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
36429000 USD
CY2015Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
33698000 USD
CY2014Q4 us-gaap Land
Land
1003422000 USD
CY2015Q4 us-gaap Land
Land
1048685000 USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2800000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3000000 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3400000 USD
CY2013Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
12200000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
3087438000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
3065352000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6043981000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6037612000 USD
CY2014Q4 us-gaap Liabilities Fair Value Disclosure Nonrecurring
LiabilitiesFairValueDisclosureNonrecurring
0 USD
CY2015Q4 us-gaap Liabilities Fair Value Disclosure Nonrecurring
LiabilitiesFairValueDisclosureNonrecurring
0 USD
CY2015 us-gaap Loans And Leases Receivable Commitments Fixed Rates
LoansAndLeasesReceivableCommitmentsFixedRates
8300000 USD
CY2015 us-gaap Loans Receivable Basis Spread On Variable Rate During Period
LoansReceivableBasisSpreadOnVariableRateDuringPeriod
0.0100
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
2724700000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1411400000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
19000000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1100000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
870200000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
175800000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
247200000 USD
CY2015Q4 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
13200000 USD
CY2015Q4 us-gaap Mortgage Loans On Real Estate Carrying Amount Of Mortgages
MortgageLoansOnRealEstateCarryingAmountOfMortgages
13161000 USD
CY2013 us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
0 USD
CY2014 us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
0 USD
CY2015 us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
0 USD
CY2015Q4 us-gaap Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
21395000 USD
CY2015Q4 us-gaap Mortgage Loans On Real Estate Federal Income Tax Basis1
MortgageLoansOnRealEstateFederalIncomeTaxBasis1
13161000 USD
CY2014 us-gaap Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.043
CY2015 us-gaap Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.041
CY2013 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
0 USD
CY2014 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
0 USD
CY2015 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
9766000 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-154181000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
43482000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-273231000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-258985000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-325886000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-293308000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
404291000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
418528000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
423238000 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
336364000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
40036000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
35272000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
38283000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
178498000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
292089000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
115599000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
36079000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
37044000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
60593000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
249315000 USD
CY2013 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4022000 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9225000 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8947000 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
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
247263000 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
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
247263000 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
CY2015 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
9500000 USD
CY2014Q4 us-gaap Notes Payable
NotesPayable
2730600000 USD
CY2015Q4 us-gaap Notes Payable
NotesPayable
2724700000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2800000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2500000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2500000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2700000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2900000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
11100000 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
CY2015 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
769108000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-44000 USD
CY2015Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
22700000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
111962000 USD
CY2015Q4 us-gaap Other Assets
OtherAssets
116260000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1313000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
506000 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
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-357000 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
CY2015 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2014Q4 us-gaap Other Liabilities
OtherLiabilities
100058000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
97814000 USD
CY2013 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2706000 USD
CY2014 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2583000 USD
CY2015 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2773000 USD
CY2013 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
21233000 USD
CY2014 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
22077000 USD
CY2015 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-5711000 USD
CY2013 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
105489000 USD
CY2014 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
112104000 USD
CY2015 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
123820000 USD
CY2013 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
21774000 USD
CY2014 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
22689000 USD
CY2015 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
23761000 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
CY2015 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2052000 USD
CY2013 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1300000 USD
CY2014 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-335000 USD
CY2015 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
11169000 USD
CY2013 us-gaap Payments Of Dividends
PaymentsOfDividends
220083000 USD
CY2014 us-gaap Payments Of Dividends
PaymentsOfDividends
236514000 USD
CY2015 us-gaap Payments Of Dividends
PaymentsOfDividends
253129000 USD
CY2014 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
39400000 USD
CY2015 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
59100000 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
CY2015 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
4091000 USD
CY2013 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
224109000 USD
CY2014 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
62260000 USD
CY2015 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 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
CY2015 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
425574000 USD
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
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
CY2015 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
2512000 USD
CY2014 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
36340000 USD
CY2015 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
253043000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5898000 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
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 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
CY2015 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
18336000 USD
CY2013 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
952900000 USD
CY2014 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2246000000 USD
CY2015 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1466000000 USD
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
249535000 USD
CY2014 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
248078000 USD
CY2015 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
CY2013 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
710000 USD
CY2014 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
286000 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2436000 USD
CY2014 us-gaap Proceeds From Sale Of Land Heldforinvestment
ProceedsFromSaleOfLandHeldforinvestment
22900000 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
CY2015 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
CY2013 us-gaap Profit Loss
ProfitLoss
346291000 USD
CY2014 us-gaap Profit Loss
ProfitLoss
301314000 USD
CY2015 us-gaap Profit Loss
ProfitLoss
258262000 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
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1978690000 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
CY2015 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
0 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
CY2015 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
10265000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
902584000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
6781311000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
1043345000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
781605000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
5999706000 USD
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
1043345000 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
CY2015 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
24705000 USD
CY2015Q4 us-gaap Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
6800000000 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
CY2015 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
101885000 USD
CY2013 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
952900000 USD
CY2014Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7421516000 USD
CY2015Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7824656000 USD
CY2014Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
27143000 USD
CY2015Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2013 us-gaap Real Estate Improvements
RealEstateImprovements
67049000 USD
CY2014 us-gaap Real Estate Improvements
RealEstateImprovements
58233000 USD
CY2015 us-gaap Real Estate Improvements
RealEstateImprovements
75847000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1738862000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1978690000 USD
CY2013 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
221421000 USD
CY2014 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
61736000 USD
CY2015 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
0 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
CY2015Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
215434000 USD
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
220651000 USD
CY2015Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
227185000 USD
CY2015Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
229658000 USD
CY2015 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
892928000 USD
CY2013 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
86041000 USD
CY2014 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
94055000 USD
CY2014 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2246000000 USD
CY2015 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1222000000 USD
CY2013 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
230288000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.226
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.165
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.011
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.013
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
313628 shares
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
CY2015 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
61.10
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.232
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.188
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5971000 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
CY2015 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
250093000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
902128000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
899757000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
14063000 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
15552000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
17674000 USD
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
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
12818 shares
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
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
67.96
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
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
257749 shares
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
CY2015 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
74.53
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
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
750246 shares
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
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
68.09
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
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.001
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010
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
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
84452 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
26752 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10100000 USD
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
41.56
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
47.85
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
37.69
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
73.32
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
62.32
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.00
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
64.75
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
75.17
CY2012Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
838754 shares
CY2013Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
634361 shares
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
321811 shares
CY2015Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
295205 shares
CY2015Q2 us-gaap Share Price
SharePrice
74.28
CY2015Q4 us-gaap Share Price
SharePrice
76.76
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
10100000 USD
CY2012Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
42.36
CY2013Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
41.59
CY2014Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
38.97
CY2015Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
42.49
CY2013 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
2 shares
CY2014 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
1 shares
CY2015 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
2 shares
CY2013 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
17171 shares
CY2014 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
25728 shares
CY2015 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
14655 shares
CY2013 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
555 shares
CY2014 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
898 shares
CY2015 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
183871 shares
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
375316 shares
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
53358 shares
CY2013 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
-52000 USD
CY2014 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2015 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2013 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
918000 USD
CY2014 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2271000 USD
CY2015 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1111000 USD
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
40044000 USD
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
66225000 USD
CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
17578000 USD
CY2014 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
19368000 USD
CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
22325000 USD
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2842000 USD
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1502000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
176000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
2815602000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
2816557000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2626708000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2760181000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2888409000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2892896000 USD
CY2014 us-gaap Stockholders Equity Other
StockholdersEquityOther
0 USD
CY2015 us-gaap Stockholders Equity Other
StockholdersEquityOther
104000 USD
CY2013Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
47180000 USD
CY2014Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
68134000 USD
CY2015Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
79364000 USD
CY2013 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
-9575000 USD
CY2014 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
-17921000 USD
CY2015 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
-3788000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
10975000 shares
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
10703000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
396626000 USD
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
386793000 USD
CY2014Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
12900000 USD
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
10900000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2014Q4 us-gaap Unsecured Debt
UnsecuredDebt
1828485000 USD
CY2014Q4 us-gaap Unsecured Debt
UnsecuredDebt
1828500000 USD
CY2015Q4 us-gaap Unsecured Debt
UnsecuredDebt
1824930000 USD
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88494000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88468000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89490000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87204000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88084000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89120000 shares
CY2015 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, or non-managing members, as the case may be, to assess whether any rights held by the limited partners, or non-managing members, as the case may be, overcome the presumption of control by us.</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, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</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;">2015</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></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;">0.5</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></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;">(0.5</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;">(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></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;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</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;">0.1</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></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;">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></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;">(3.0</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;">(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></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;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</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;">0.5</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></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, 2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;color:#000000;">2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;">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="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;">2015</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></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;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</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><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;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of in-place leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</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;">0.5</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;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</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></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;">eight</font><font style="font-family:inherit;font-size:10pt;"> months, </font><font style="font-family:inherit;font-size:10pt;">seven</font><font style="font-family:inherit;font-size:10pt;"> months 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, 2015</font><font style="font-family:inherit;font-size:10pt;">, 2014 and </font><font style="font-family:inherit;font-size:10pt;">2013</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;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, 2015</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;">. See Note 7, "Acquisitions, Dispositions, Impairment, 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;">$19.3 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$22.2 million</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">$15.7 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, 2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">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;">, respectively. Capitalized real estate taxes were approximately </font><font style="font-family:inherit;font-size:10pt;">$3.6 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$4.4 million</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">$3.0 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, 2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">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;">, 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, </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;"> on January 1, 2014, which required only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, to be classified as a discontinued operation. We generally believe future sales of our individual operating properties will no longer qualify as discontinued operations effective with our adoption of this new standard. 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 period, and meeting the above criteria of discontinued operations, are classified as discontinued operations for all periods presented. 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 years ended December 31, 2015 or 2014. See Note 7, "Acquisitions, Dispositions, Impairment, and Discontinued Operations," for discussion of discontinued operations for the year ended December 31, 2013.</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 Measurements.</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 Measurements.</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;">Financial Instrument Fair Value Disclosures.</font><font style="font-family:inherit;font-size:10pt;"> As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</font><font style="font-family:inherit;font-size:10pt;">, the carrying values of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and distributions payable represent fair value because of the short-term nature of these instruments. The carrying value of restricted cash approximates its fair value based on the nature of our assessment of the ability to recover these amounts. The carrying value of our notes receivable, which are included in other assets, net in our consolidated balance sheets, approximates their fair value. The estimated fair values are based on certain factors, such as market interest rates, terms of the note and credit worthiness of the borrower. These financial instruments utilize Level 3 inputs. In calculating the fair value of our notes payable, interest rate and spread assumptions reflect current credit worthiness and market conditions available for the issuance of notes payable with similar terms and remaining maturities. These financial instruments utilize Level 2 inputs. </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-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications. </font><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to amounts in prior period financial statements to conform to the current period presentation. We reclassified certain insignificant amounts in the consolidated statements of cash flows for the&#160;years ended December 31, 2014&#160;and 2013. These reclassifications had no impact on our consolidated cash flows from operating, investing or financing activities. In addition, we also reclassified deferred financing charges relating to our unsecured credit facility and unsecured short-term borrowing facility to depreciation and amortization. All other deferred charges were reclassified to interest expense effective with our adoption of Accounting Standards Update 2015-03 ("ASU 2015-03"), </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Simplifying the Presentation of Debt Issuance Costs,"</font><font style="font-family:inherit;font-size:10pt;"> as discussed below in Recent Accounting Pronouncements.</font></div><div style="line-height:120%;padding-top:10px;text-indent:30px;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, 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, notes receivable, 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 related to our unsecured credit facility and unsecured short-term borrowing facility, and are amortized no longer than the terms of the related facilities 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.</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;">Our notes receivable relate to real estate secured loans to unaffiliated third parties. At December 31, 2015 and 2014, we had outstanding notes receivable balances of approximately </font><font style="font-family:inherit;font-size:10pt;">$13.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3.4 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and the weighted average interest rate on such notes was approximately </font><font style="font-family:inherit;font-size:10pt;">4.1%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">4.3%</font><font style="font-family:inherit;font-size:10pt;"> for the years ended December 31, 2015 and 2014, respectively. At December 31, 2015, we were also committed to funding additional amounts under one of the loans in the amount of approximately </font><font style="font-family:inherit;font-size:10pt;">$8.3 million</font><font style="font-family:inherit;font-size:10pt;">. Interest is recognized over the lives of the notes and is included in interest and other income in our consolidated statements of income and comprehensive income. We consider a note receivable to be impaired if it is probable we will not collect all contractually due principal and interest. We do not accrue interest when a note is considered impaired and an allowance is recorded for any principal and previously accrued interest which is not believed to be collectible. All cash receipts on impaired notes are applied to reduce the principal amount of such notes until the principal has been recovered and, thereafter, are recognized as interest income. There were no impairments as of December 31, 2015 or 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;">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 each of the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and 2014, and </font><font style="font-family:inherit;font-size:10pt;">98%</font><font style="font-family:inherit;font-size:10pt;"> for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2013</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 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 February 2015, the FASB issued Accounting Standards Update 2015-02 ("ASU 2015-02"), </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Amendments to the Consolidation Analysis."</font><font style="font-family:inherit;font-size:10pt;"> ASU 2015-02 changes the analysis a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU 2015-02 modifies whether limited partnerships and similar entities are VIEs or voting interest entities and eliminates the presumption a general partner should consolidate a limited partnership. Reporting entities which consolidate or hold a variable interest in a VIE as a result of this standard are subject to additional disclosure requirements. ASU 2015-02 is effective for us on January 1, 2016 and did not have a material impact on our consolidated financial statements. However, upon adoption, two of our consolidated operating partnerships, as discussed in Note 5, "Operating Partnerships," would now qualify as VIEs. As we would be considered the primary beneficiary, we would continue to consolidate these operating partnerships.</font></div><div style="line-height:120%;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued ASU 2015-03, which requires all costs incurred to issue debt to be presented in the balance sheet as a direct deduction from the carrying value of the debt rather than being recorded as a deferred charge and presented as an asset. ASU 2015-03 also requires amortization of debt issuance costs to be reported as interest expense in the statement of income. In August 2015, the FASB issued Accounting Standards Update 2015-15 ("ASU 2015-15"),&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements."</font><font style="font-family:inherit;font-size:10pt;">&#160;ASU 2015-15 supplements the requirements of ASU 2015-03 by allowing an entity to defer and present debt issuance costs related to a line of credit arrangement as an asset and subsequently amortize the deferred costs ratably over the term of the line of credit arrangement. We adopted ASU 2015-03 effective December 31, 2015. Prior to adoption, we reported amortization expense of debt issuance costs as a separate line item in our consolidated statements of income. Upon our adoption of ASU 2015-03, debt issuance costs related to our unsecured credit facility and unsecured short-term borrowing facility continue to be presented within other assets, net on our consolidated balance sheets. However, the retrospective application required upon adoption of this ASU resulted in a reclassification of approximately </font><font style="font-family:inherit;font-size:10pt;">$10.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$12.9 million</font><font style="font-family:inherit;font-size:10pt;"> of debt issuance costs from other assets, net to a deduction from unsecured and secured notes payable in our consolidated balance sheets as of December 31, 2015 and 2014, respectively. The retrospective application upon adoption also resulted in a reclassification of approximately </font><font style="font-family:inherit;font-size:10pt;">$1.7 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$1.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.7 million</font><font style="font-family:inherit;font-size:10pt;"> from amortization of deferred financing costs to a component of interest expense in our consolidated statements of income and comprehensive income for the years ended December 31, 2015, 2014, and 2013, 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;">In January 2016, the FASB issued Accounting Standards Update 2016-01 ("ASU 2016-01"),&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Recognition and Measurement of Financial Assets and Financial Liabilities."</font><font style="font-family:inherit;font-size:10pt;">&#160;ASU 2016-01 changes certain recognition, measurement, presentation, and disclosure requirements for financial instruments. This standard requires all equity investments, except those accounted for under the equity method of accounting or resulting in consolidation, to be measured at fair value with changes in fair value recognized in net income. This standard also simplifies the impairment assessment for equity investments without readily determinable fair values, amends the presentation requirements for changes in the fair value of financial liabilities, requires presentation of financial instruments by measurement category and form of financial asset, and eliminates the requirement to disclose the methods and significant assumptions used in estimating the fair value of financial instruments. ASU 2016-01 is effective for interim and annual periods beginning after December 15, 2017, and early adoption is not permitted except for the amended presentation requirements for changes in the fair value of financial liabilities.&#160;We expect to adopt ASU 2016-01 as of January 1, 2018, and do not expect it to have a material impact on our consolidated financial statements upon adoption.</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;"> </font><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." </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. In August 2015, the FASB deferred the effective date of ASU 2014-09 by one year, and it is now effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted but not before the original effective date. ASU 2014-09 may be applied using either a full retrospective or a modified approach upon adoption.&#160;We expect to adopt this standard as of January 1, 2018 and we are currently evaluating the impact this standard may have on our consolidated financial statements.</font></div></div>
CY2015 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, 2015</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;">180</font><font style="font-family:inherit;font-size:10pt;"> multifamily properties comprised of </font><font style="font-family:inherit;font-size:10pt;">62,649</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;">180</font><font style="font-family:inherit;font-size:10pt;"> properties, </font><font style="font-family:inherit;font-size:10pt;">eight</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;">2,857</font><font style="font-family:inherit;font-size:10pt;"> apartment homes. We also own land holdings which we may develop into multifamily communities in the future.</font></div></div>
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications. </font><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to amounts in prior period financial statements to conform to the current period presentation. We reclassified certain insignificant amounts in the consolidated statements of cash flows for the&#160;years ended December 31, 2014&#160;and 2013. These reclassifications had no impact on our consolidated cash flows from operating, investing or financing activities. In addition, we also reclassified deferred financing charges relating to our unsecured credit facility and unsecured short-term borrowing facility to depreciation and amortization. All other deferred charges were reclassified to interest expense effective with our adoption of Accounting Standards Update 2015-03 ("ASU 2015-03"), </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Simplifying the Presentation of Debt Issuance Costs,"</font><font style="font-family:inherit;font-size:10pt;"> as discussed below in Recent Accounting Pronouncements.</font></div></div>
CY2015 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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