Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following table provides a summary of shopping centers disposed of during the three and nine months ended September 30, 2013 and 2012 (in thousands):



		Three months ended September 30,			Nine months ended September 30,
		2013	2012		2013	2012
Net proceeds	$	48,999	—	$	131,633	39,200
Gain on sale of properties	$	16,052	—	$	27,462	8,605
Number of properties sold		4	—		8	4
Percent interest sold		100%	—%		100%	100%

One of the properties sold during the three months ended September 30, 2013 had a sales price of $15.2 million, with a cost basis of $7.9 million, and was financed by the Company issuing a note receivable for $14.9 million. The note is secured by a lien on the property and a guarantee by the purchaser and the purchaser's parent corporation and matures in January 2014. The note receivable is included in the Company's consolidated balance sheets, net of the deferred gain of $7.3 million, which will be recognized under the installment method when principal is paid no later than January 2014.

The following table provides a summary of revenues and expenses from properties included in discontinued operations, and those held for sale, for three and nine months ended September 30, 2013 and 2012 (in thousands):



		Three months ended September 30,				Nine months ended September 30,
		2013	2012			2013	2012
Revenues	$	1,328	4,480		$	8,497	14,713
Operating expenses		662	2,675			4,301	8,883
Provision for impairment		—	—			—	4,500
Income tax benefit ⁽¹⁾		—	(6	)		—	(20	)
Operating income from discontinued operations	$	666	1,811		$	4,196	1,350

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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