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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 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 June 30,
 
Six Months Ended June 30,
 
 
2017
 
2016
 
2017
 
2016
Revenues
 
 
 
 
 
 
 
 
Rental Operations:
 
 
 
 
 
 
 
 
Industrial
 
$
162,559

 
$
140,219

 
$
319,441

 
$
283,199

Non-reportable Rental Operations
 
3,182

 
14,054

 
17,598

 
29,959

Service Operations
 
23,576

 
26,044

 
32,975

 
49,195

Total segment revenues
 
189,317

 
180,317

 
370,014

 
362,353

Other revenue
 
95

 
3,637

 
473

 
5,339

Consolidated revenue from continuing operations
 
189,412

 
183,954

 
370,487

 
367,692

Discontinued operations
 
35,165

 
42,736

 
81,404

 
84,181

Consolidated revenue
 
$
224,577

 
$
226,690

 
$
451,891

 
$
451,873
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 June 30,
 
Six Months Ended June 30,
 
 
2017
 
2016
 
2017
 
2016
PNOI
 
 
 
 
 
 
 
 
Industrial
 
$
120,346

 
$
103,289

 
$
235,535

 
$
203,892

Non-reportable Rental Operations
 
1,750

 
2,528

 
4,236

 
5,186

PNOI, excluding all sold/held-for-sale properties
 
122,096

 
105,817

 
239,771

 
209,078

PNOI from sold/held-for-sale properties included in continuing operations
 
372

 
9,812

 
1,956

 
21,366

PNOI, continuing operations
 
$
122,468

 
$
115,629

 
$
241,727

 
$
230,444

 
 
 
 
 
 
 
 
 
Earnings from Service Operations
 
1,202

 
3,816

 
2,977

 
6,047

 
 

 

 

 

Rental Operations revenues and expenses excluded from PNOI:
 
 
 
 
 
 
 
 
Straight-line rental income and expense, net
 
3,628

 
1,323

 
5,205

 
2,920

Revenues related to lease buyouts
 
72

 
69

 
9,857

 
234

Amortization of lease concessions and above and below market rents
 
(566
)
 
(695
)
 
(1,450
)
 
(1,612
)
Intercompany rents and other adjusting items
 
(188
)
 
(412
)
 
(413
)
 
(603
)
Non-Segment Items:
 
 
 
 
 
 
 
 
Equity in earnings of unconsolidated companies
 
51,933

 
3,534

 
56,682

 
25,394

Gain on dissolution of unconsolidated company
 
—

 
30,697

 
—

 
30,697

Promote income
 
20,007

 
24,087

 
20,007

 
24,087

Interest expense
 
(21,680
)
 
(29,511
)
 
(44,566
)
 
(59,644
)
Depreciation and amortization expense
 
(67,013
)
 
(61,136
)
 
(129,036
)
 
(120,669
)
Gain on sale of properties
 
34,341

 
39,314

 
71,387

 
54,891

Impairment charges
 
—

 
(5,651
)
 
(859
)
 
(12,056
)
Interest and other income, net
 
2,260

 
567

 
2,792

 
3,090

General and administrative expenses
 
(11,858
)
 
(11,584
)
 
(31,090
)
 
(29,682
)
Gain on land sales
 
1,279

 
707

 
2,784

 
837

Other operating expenses
 
(718
)
 
(836
)
 
(1,457
)
 
(2,072
)
Loss on extinguishment of debt
 
(9,561
)
 
(2,430
)
 
(9,536
)
 
(2,430
)
Acquisition-related activity
 
—

 
(72
)
 
—

 
(75
)
Other non-segment revenues and expenses, net
 
(986
)
 
80

 
(1,569
)
 
(323
)
Income from continuing operations before income taxes
 
$
124,620

 
$
107,496

 
$
193,442

 
$
149,475
Reportable Segments Consolidated Assets
The assets for each of the reportable segments were as follows (in thousands):
 
June 30,
2017
 
December 31,
2016
Assets
 
 
 
Rental Operations:
 
 
 
Industrial
$
5,303,570

 
$
4,828,984

Non-reportable Rental Operations
307,095

 
1,501,737

Service Operations
124,848

 
127,154

Total segment assets
5,735,513

 
6,457,875

Non-segment assets
1,582,056

 
314,127

Consolidated assets
$
7,317,569

 
$
6,772,002