Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

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, 2021, 2020 and 2019 (in thousands):

	2021		2020		2019
Revenues
Rental Operations:
Industrial	$	1,019,342	$	921,612	$	848,806
Non-reportable Rental Operations	5,506		5,995		5,794
Service Operations	80,260		64,004		117,926
Total segment revenues	1,105,108		991,611		972,526
Other revenue	815		1,587		1,233
Consolidated revenue	$	1,105,923	$	993,198	$	973,759

Schedule of Revenue by Major Customers by Reporting Segments

The table below shows the revenues from a major customer from each of our reportable segments (in thousands):

	Twelve Months Ended December 31,
	2021		2020		2019
Revenues
Rental Operations - Industrial	$	91,495	$	92,986	$	63,805
Service Operations	30,315		32,771		45,177

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, 2021, 2020 and 2019 (in thousands and excluding discontinued operations):

	2021		2020		2019
PNOI
Industrial	$	706,956	$	611,217	$	550,399
Non-reportable Rental Operations	5,227		5,020		3,811
PNOI, excluding all sold properties	712,183		616,237		554,210
PNOI from sold properties included in continuing operations	24,834		49,574		63,911
PNOI, continuing operations	737,017		665,811		618,121
Earnings from Service Operations	12,142		6,028		6,360
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	32,081		25,865		21,197
Revenues related to lease buyouts	323		2,863		1,611
Amortization of lease concessions and above and below market rents	12,368		8,984		7,802
Intercompany rents and other adjusting items	(2,704)		(1,473)		1,012
Non-Segment Items:
Equity in earnings of unconsolidated joint ventures	32,804		11,944		31,406
Interest expense	(84,843)		(93,442)		(89,756)
Depreciation and amortization expense	(362,148)		(353,013)		(327,223)
Gain on sale of properties	585,685		127,700		234,653
Impairment charges	—		(5,626)		—
Interest and other income, net	4,451		1,721		9,941
General and administrative expenses	(69,554)		(62,404)		(60,889)
Gain on land sales	12,917		10,458		7,445
Other operating expenses	(3,607)		(8,209)		(5,318)
Loss on extinguishment of debt	(17,901)		(32,900)		(6,320)
Gain on involuntary conversion	3,222		4,312		2,259
Non-incremental costs related to successful leases	(13,302)		(12,292)		(12,402)
Other non-segment revenues and expenses, net	1,216		1,210		986
Income from continuing operations before income taxes	$	880,167	$	297,537	$	440,885

Reportable Segments Consolidated Assets

The assets for each of the reportable segments at December 31, 2021 and 2020 were as follows (in thousands):

	December 31, 2021		December 31, 2020
Assets
Rental Operations:
Industrial	$	9,887,635	$	8,709,960
Non-reportable Rental Operations	33,702		35,292
Service Operations	182,979		160,194
Total segment assets	10,104,316		8,905,446
Non-segment assets	341,339		205,948
Consolidated assets	$	10,445,655	$	9,111,394