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## MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 

maturity date of January 2017 and $700.0 million of senior unsecured notes at a fixed interest rate of 4.13% with a maturity date of December 2021. As further discussed in “Financing and Debt” below, on October 5, 2011, we entered into a new $4.0 billion unsecured revolving credit facility, or Credit Facility. 

## United States Portfolio Data 

The portfolio data discussed in this overview includes the following key operating statistics: ending occupancy; average base minimum rent per square foot; and total sales per square foot for our domestic assets. We include acquired properties in this data beginning in the year of acquisition and remove properties sold in the year disposed. For comparative purposes, we separate the information below related to community/lifestyle centers and our investment in the Mills portfolio from our other U.S. operations. We also do not include any properties located outside of the United States. During 2011, we made changes to the method and presentation of certain of our operational statistics as defined below. 

The following table sets forth these key operating statistics for: 

● properties that are consolidated in our consolidated financial statements, 

● properties we account for under the equity method of accounting as joint ventures, and 

● the foregoing two categories of properties on a total portfolio basis. 

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(1) Percentages may not recalculate due to rounding. Percentage and basis point changes are representative of the change from the comparable prior period. 

