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Discontinued operations/assets held for sale (Tables)
 12 Months Ended
Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Summary of net assets of discontinued operations and income from discontinued operations, net
The following is a summary of net assets “held for sale” as of December 31, 2014 and 2013, including the assets classified as “held for sale” subsequent to our adoption of the new ASU (in thousands):
 
As of December 31,
 
2014
 
2013
Properties “held for sale”
$
173,706

 
$
7,644

Other assets
10,147

 
103

Total assets
183,853

 
7,747

 
 
 
 
Total liabilities
(6,044
)
 
(266
)
Net assets “held for sale” (1)
$
177,809

 
$
7,481


(1)
As of December 31, 2014, net assets “held for sale” was comprised of the five properties which were “held for sale”, including the two properties subsequently sold in January 2015, and one property classified as “held for sale” and included in discontinued operations prior to the adoption of the ASU.

The following is a summary of income from discontinued operations related to each asset classified as discontinued operations prior to the adoption of the new ASU on October 1, 2014, for the years ended December 31, 2014, 2013, and 2012, (in thousands):
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
Total revenues
 
$
—

 
$
4,657

 
$
36,283

Operating expenses
 
(605
)
 
(1,981
)
 
(11,313
)
Total revenues less operating expenses from discontinued operations
 
(605
)
 
2,676

 
24,970

Depreciation expense
 
—

 
(1,655
)
 
(6,318
)
Gain (loss) on sales of real estate
 
1,838

 
(121
)
 
1,564

Impairment of real estate
 
—

 
—

 
(11,400
)
Income from discontinued operations (1)
 
$
1,233

 
$
900

 
$
8,816


(1)
Income from discontinued operations includes the results of operations of three properties that were disposed of during the year ended December 31, 2014, and the results of one property which was classified as “held for sale” prior to adoption of the new ASU and included as discontinued operations as of December 31, 2014, as well as the results of operations (prior to disposition) and gain (loss) on sale of real estate attributable to 16 properties sold during the period from January 1, 2012, to December 31, 2014.

The following is a summary of the loss included in our income from continuing operations for the year ended December 31, 2014, from assets classified as “held for sale” subsequent to our adoption of the new ASU (in thousands):
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
Total revenues
 
$
9,661

 
$
9,975

 
$
9,604

Operating expenses
 
(3,760
)
 
(3,525
)
 
(3,156
)
Total revenues less operating expenses from assets classified as “held for sale”, not qualifying as discontinued operations
 
5,901

 
6,450

 
6,448

Depreciation expense
 
(7,005
)
 
(7,189
)
 
(7,103
)
Impairment of real estate
 
(26,975
)
 
—

 
—

Loss from assets classified as "held for sale", not qualifying as discontinued operations (1)
 
$
(28,079
)
 
$
(739
)
 
$
(655
)

(1)
Includes the results of operations of four properties with an aggregate 1,036,585 RSF that were classified as “held for sale” as of December 31, 2014, but do not qualify for classification as discontinued operations. In January 2015, we subsequently sold two of these properties with an aggregate 802,399 RSF. For additional information, refer to the section titled “Basis of Presentation and Summary of Significant Accounting Policies” in Note 2 to our audited consolidated financial statements under Item 15 of this Report. As of December 31, 2013, and 2012, we did not have any assets classified as “held for sale”, not qualifying as discontinued operations.