SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Summary of segment operating results

Segment operating results are as follows:

	Three Months Ended March 31,
	2018			2017			2018			2017			2018			2017			2018			2017
(In thousands)	Operating						MPC						Strategic						Consolidated
Total revenues	$	91,258		$	82,087		$	55,765		$	68,706		$	14,656		$	80,969		$	161,679		$	231,762
Total operating expenses:	44,806			40,237			36,368			35,265			12,767			68,130			93,941			143,632
Segment operating income	46,452			41,850			19,397			33,441			1,889			12,839			67,738			88,130
Depreciation and amortization	(25,173		)	(22,789		)	(81		)	(92		)	(1,065		)	(668		)	(26,319		)	(23,549		)
Interest (expense) income, net	(16,687		)	(14,524		)	6,392			5,557			7,524			4,604			(2,771		)	(4,363		)
Equity in earnings from Real Estate and Other Affiliates	2,583			3,385			11,128			5,280			672			(145		)	14,382			8,520
Gains on sales of properties	—						—			—			—			32,215			—			32,215
Segment EBT	$	7,175		$	7,922		$	36,836		$	44,186		$	9,020		$	48,845		$	53,030		$	100,953
							Corporate expenses and other items												51,196			95,294
							Net income												$	1,834		$	5,659
							Net income attributable to noncontrolling interests												(360		)	—
							Net income attributable to common stockholders												$	1,474		$	5,659

Summary of assets by segment and the reconciliation of total segment assets to the total assets in the Condensed Consolidated Balance Sheets

The assets by segment and the reconciliation of total segment assets to the total assets in the Condensed Consolidated Balance Sheets are summarized as follows:

	March 31,		December 31,
(In thousands)	2018		2017
Master Planned Communities	$	2,000,369	$	1,999,090
Operating Assets	2,585,774		2,489,177
Strategic Developments	1,624,168		1,511,612
Total segment assets	6,210,311		5,999,879
Corporate and other	527,675		729,185
Total assets	$	6,737,986	$	6,729,064