CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share amounts) December 31,  December 31,   2011  2010  ASSETS: Investment properties at cost  $ 29,657,046 $ 27,508,735 Less — accumulated depreciation  8,388,130 7,711,304 21,268,916 19,797,431 Cash and cash equivalents  798,650 796,718 Tenant receivables and accrued revenue, net  486,731 426,736 Investment in unconsolidated entities, at equity 1,378,084 1,390,105 Deferred costs and other assets  1,633,544 1,795,439 Notes receivable from related party  651,000 651,000 Total assets $ 26,216,925 $ 24,857,429 LIABILITIES: Mortgages and other indebtedness  $ 18,446,440 $ 17,473,760 Accounts payable, accrued expenses, intangibles, and deferred revenues  1,091,712 993,738 Cash distributions and losses in partnerships and joint ventures, at equity  695,569 485,855 Other liabilities and accrued dividends  170,971 184,855 Total liabilities 20,404,692 19,138,208 Commitments and contingencies  Limited partners’ preferred interest in the Operating Partnership and noncontrolling redeemable interests in properties  267,945 85,469 EQUITY: Stockholders’ equity  Capital stock (850,000,000 total shares authorized, $0.0001 par value,  238,000,000 shares of excess common stock, 100,000,000 authorized shares of preferred stock):  Series J 8 3 /$_{8}$% cumulative redeemable preferred stock, 1,000,000 shares authorized,  796,948 issued and outstanding with a liquidation value of $39,847  45,047 45,375 Common stock, $0.0001 par value, 511,990,000 shares authorized,  297,725,698 and 296,957,360 issued and outstanding, respectively  30 30 Class B common stock, $0.0001 par value, 10,000 shares authorized,  8,000 issued and outstanding  — — Capital in excess of par value  8,103,133 8,059,852 Accumulated deficit  (3,251,740) (3,114,571) Accumulated other comprehensive income (loss)  (94,263) 6,530 Common stock held in treasury at cost, 3,877,448 and 4,003,451 shares, respectively (152,541) (166,436) Total stockholder’s equity  4,649,666 4,830,780 Noncontrolling interests  894,622 802,972 Total equity 5,544,288 5,633,752 Total liabilities and equity  $ 26,216,925 $ 24,857,429 The accompanying notes are an integral part of these statements. 2011 Annual Report 31