Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues (in thousands): 

	Three Months Ended March 31,
	2017		2016
Revenues
Rental Operations:
Industrial	$	156,882	$	142,980
Medical Office	47,522		42,225
Non-reportable Rental Operations	13,133		14,896
Service Operations	9,399		23,151
Total segment revenues	226,936		223,252
Other revenue	378		1,702
Consolidated revenue from continuing operations	227,314		224,954
Discontinued operations	—		229
Consolidated revenue	$	227,314	$	225,183

Summary of Net Operation Income

The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes (in thousands and excluding discontinued operations): 

	Three Months Ended March 31,
	2017			2016
PNOI
Industrial	$	115,572		$	100,983
Medical Office	28,851			25,519
Non-reportable Rental Operations	1,192			1,598
PNOI, excluding all sold/held-for-sale properties	145,615			128,100
PNOI from sold/held-for-sale properties included in continuing operations	2,789			12,738
PNOI, continuing operations	$	148,404		$	140,838
Earnings from Service Operations	1,775			2,231
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	2,928			2,923
Revenues related to lease buyouts	9,785			165
Amortization of lease concessions and above and below market rents	(543		)	(633		)
Intercompany rents and other adjusting items	180			7
Non-Segment Items:
Equity in earnings of unconsolidated companies	4,749			21,860
Interest expense	(30,505		)	(37,730		)
Depreciation and amortization expense	(81,557		)	(77,798		)
Gain on sale of properties	37,046			15,577
Impairment charges	(859		)	(6,405		)
Interest and other income, net	533			2,523
General and administrative expenses	(19,232		)	(18,098		)
Gain on land sales	1,505			130
Other operating expenses	(738		)	(1,237		)
Gain on extinguishment of debt	25			—
Acquisition-related activity	—			(3		)
Other non-segment revenues and expenses, net	(583		)	(402		)
Income from continuing operations before income taxes	$	72,913		$	43,948

Reportable Segments Consolidated Assets

The assets for each of the reportable segments were as follows (in thousands):

	March 31, 2017		December 31, 2016
Assets
Rental Operations:
Industrial	$	5,042,142	$	4,828,984
Medical Office	1,365,645		1,338,844
Non-reportable Rental Operations	86,522		162,893
Service Operations	125,455		127,154
Total segment assets	6,619,764		6,457,875
Non-segment assets	338,746		314,127
Consolidated assets	$	6,958,510	$	6,772,002