SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Summary of segment operating results

Segment operating results are as follows:

	Three Months Ended March 31,
(In thousands)	2019			2018
Operating Assets Segment EBT
Total revenues	$	91,953		$	87,747
Total operating expenses	42,912			42,011
Segment operating income	49,041			45,736
Depreciation and amortization	27,108			23,360
Interest expense, net	18,991			16,687
Other income, net	(35		)	(93		)
Equity in earnings from real estate and other affiliates	(2,709		)	(2,583		)
Segment EBT	5,686			8,365
MPC Segment EBT
Total revenues	50,896			55,765
Total operating expenses	28,514			36,368
Segment operating income	22,382			19,397
Depreciation and amortization	160			81
Interest income, net	(7,543		)	(6,392		)
Other loss, net	5			—
Equity in earnings from real estate and other affiliates	(7,837		)	(11,128		)
Segment EBT	37,597			36,836
Seaport District Segment EBT
Total revenues	7,030			3,511
Total operating expenses	14,433			3,535
Segment operating loss	(7,403		)	(24		)
Depreciation and amortization	6,193			2,244
Interest expense (income), net	1,532			(3,717		)
Other loss, net	86			—
Equity in losses from real estate and other affiliates	632			—
Loss on sale or disposal of real estate	6			—
Segment EBT	(15,852		)	1,449
Strategic Developments Segment EBT
Total revenues	204,011			14,656
Total operating expenses	146,303			12,027
Segment operating income	57,708			2,629
Depreciation and amortization	1,056			1,065
Interest income, net	(3,262		)	(3,807		)
Other income, net	(695		)	(209		)
Equity in earnings from real estate and other affiliates	(37		)	(672		)
Segment EBT	60,646			6,252

	Three Months Ended March 31,
(In thousands)	2019			2018
Consolidated Segment EBT
Total revenues	353,890			161,679
Total operating expenses	232,162			93,941
Segment operating income	121,728			67,738
Depreciation and amortization	34,517			26,750
Interest loss, net	9,718			2,771
Other income, net	(639		)	(302		)
Equity in earnings from real estate and other affiliates	(9,951		)	(14,383		)
Loss on sale or disposal of real estate	6			—
Consolidated segment EBT	88,077			52,902
Corporate expenses and other items	56,152			51,068
Net income	31,925			1,834
Net income attributable to noncontrolling interests	(104		)	(360		)
Net income attributable to common stockholders	$	31,821		$	1,474

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)	2019		2018
Operating Assets	$	2,706,132	$	2,562,257
Master Planned Communities	2,137,308		2,076,678
Seaport District	876,179		839,522
Strategic Developments	1,414,811		1,538,917
Total segment assets	7,134,430		7,017,374
Corporate and other	281,577		338,425
Total assets	$	7,416,007	$	7,355,799