Assets Held for Sale and Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

8. Assets Held for Sale and Discontinued Operations

We had three land parcels that met the criteria to be classified as held for sale at December 31, 2013, and five land parcels and one operating building that met the criteria to be classified as held for sale at December 31, 2012. The amounts included in held for sale as of December 31, 2013 and 2012, represented real estate investment balances and the related assets and liabilities for each property.

The operations of the properties held for sale or disposed of to third parties and the aggregate net gains or losses recognized upon their disposition are presented as Discontinued Operations in the Consolidated Statements of Operations for all periods presented. Interest expense is included in discontinued operations only if it is directly attributable to these properties.

Discontinued operations are summarized as follows for the years ended December 31 (in thousands):

	2013		2012		2011
Rental income and recoveries	$	34,105	$	128,162	$	171,103
Rental expenses		(10,633)		(40,925)		(48,528)
Depreciation and amortization		(15,339)		(43,197)		(61,465)
Interest expense		(1,163)		(3,213)		(2,718)
Income attributable to disposed properties and assets held for sale		6,970		40,827		58,392
Net gains on dispositions		117,738		65,927		64,489
Impairment charges		-		(30,596)		(2,659)
Income tax on dispositions		(1,188)		(233)		(3,216)
Total discontinued operations	$	123,520	$	75,925	$	117,006