Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2018

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, for the years ended December 31, 2018, 2017 and 2016 (in thousands):

	2018		2017		2016
Revenues
Rental Operations:
Industrial	$	775,713	$	661,226	$	583,019
Non-Reportable Rental Operations	7,862		24,101		50,684
Service Operations	162,551		94,420		88,810
Total segment revenues	946,126		779,747		722,513
Other revenue	1,744		1,187		7,998
Consolidated revenue from continuing operations	947,870		780,934		730,511
Discontinued operations	117		87,185		172,716
Consolidated revenue	$	947,987	$	868,119	$	903,227

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes, for the years ended December 31, 2018, 2017 and 2016 (in thousands and excluding discontinued operations):

	2018			2017			2016
PNOI
Industrial	$	549,107		$	461,816		$	403,314
Non-Reportable Rental Operations	3,637			3,733			6,357
PNOI, excluding all sold/held for sale properties	552,744			465,549			409,671
PNOI from sold/held-for-sale properties included in continuing operations	10,954			28,044			57,866
PNOI, continuing operations	563,698			493,593			467,537
Earnings from Service Operations	8,642			4,963			8,343
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	24,604			13,585			7,897
Revenues related to lease buyouts	23			10,816			1,725
Amortization of lease concessions and above and below market rents	2,332			(1,732		)	(2,126		)
Intercompany rents and other adjusting items	290			(304		)	(2,640		)
Non-Segment Items:
Equity in earnings of unconsolidated joint ventures	21,444			63,310			47,403
Gain on dissolution of unconsolidated joint venture	—			—			30,697
Promote income	—			20,007			26,299
Interest expense	(85,006		)	(87,003		)	(112,757		)
Depreciation and amortization expense	(312,217		)	(273,561		)	(242,557		)
Gain on sale of properties	204,988			113,669			162,093
Impairment charges	—			(4,481		)	(18,018		)
Interest and other income, net	17,234			14,721			4,035
General and administrative expenses	(56,218		)	(54,944		)	(55,389		)
Gain on land sales	10,334			9,244			9,865
Other operating expenses	(3,592		)	(2,554		)	(3,864		)
Loss on extinguishment of debt	(388		)	(26,104		)	(33,934		)
Acquisition-related activity	—			—			7,176
Other non-segment revenues and expenses, net	(3,972		)	(2,990		)	(3,953		)
Income from continuing operations before income taxes	$	392,196		$	290,235		$	297,832

Reportable Segments Consolidated Assets

The assets for each of the reportable segments at December 31, 2018 and 2017 were as follows (in thousands):

	December 31, 2018		December 31, 2017
Assets
Rental Operations:
Industrial	$	7,155,505	$	6,312,777
Non-Reportable Rental Operations	43,496		136,927
Service Operations	132,483		142,603
Total segment assets	7,331,484		6,592,307
Non-segment assets	472,540		795,889
Consolidated assets	$	7,804,024	$	7,388,196

Second Generation Capital Expenditures By Segment

Our second generation capital expenditures by segment are summarized as follows for the years ended December 31, 2018, 2017 and 2016 (in thousands):

	2018		2017		2016
Second Generation Capital Expenditures
Industrial	$	53,356	$	50,721	$	51,785
Non-Reportable Rental Operations	118		1,833		7,564
Total	$	53,474	$	52,554	$	59,349