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SEGMENTS (Tables)
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Summary of segment operating results
Segment operating results are as follows: 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2019
 
2018
 
2019
 
2018
Operating Assets Segment EBT
 
 
 
 
 
 
 
 
Total revenues
 
$
104,223

 
$
87,462

 
$
305,395

 
$
264,017

Total operating expenses
 
(47,950
)
 
(43,373
)
 
(139,589
)
 
(126,372
)
Segment operating income
 
56,273

 
44,089

 
165,806

 
137,645

Depreciation and amortization
 
(28,844
)
 
(26,470
)
 
(84,890
)
 
(74,028
)
Interest expense, net
 
(21,645
)
 
(18,891
)
 
(60,695
)
 
(52,886
)
Other (loss) income, net
 
63

 
(2,767
)
 
1,186

 
(2,603
)
Equity in earnings (losses) from real estate and other affiliates
 
441

 
(76
)
 
3,195

 
1,507

Selling profit from sales-type leases
 
13,537

 
—

 
13,537

 
—

Segment EBT
 
19,825

 
(4,115
)
 
38,139

 
9,635

 
 
 
 
 
 
 
 
 
MPC Segment EBT
 
 
 
 
 
 
 
 
Total revenues
 
92,287

 
143,135

 
216,042

 
261,665

Total operating expenses
 
(45,169
)
 
(70,237
)
 
(114,075
)
 
(143,608
)
Segment operating income
 
47,118

 
72,898

 
101,967

 
118,057

Depreciation and amortization
 
(88
)
 
(78
)
 
(334
)
 
(245
)
Interest income, net
 
8,550

 
6,626

 
24,376

 
19,826

Other income, net
 
534

 
18

 
601

 
18

Equity in earnings from real estate and other affiliates
 
4,523

 
9,454

 
18,859

 
34,682

Segment EBT
 
60,637

 
88,918

 
145,469

 
172,338

 
 
 
 
 
 
 
 
 
Seaport District Segment EBT
 
 
 
 
 
 
 
 
Total revenues
 
23,130

 
14,601

 
43,051

 
22,612

Total operating expenses
 
(27,330
)
 
(21,989
)
 
(59,735
)
 
(31,965
)
Segment operating loss
 
(4,200
)
 
(7,388
)
 
(16,684
)
 
(9,353
)
Depreciation and amortization
 
(6,767
)
 
(2,309
)
 
(19,713
)
 
(6,506
)
Interest (expense) income, net
 
(4,984
)
 
1,471

 
(8,440
)
 
8,466

Other loss, net
 
—

 
(120
)
 
(147
)
 
(120
)
Equity in losses from real estate and other affiliates
 
(705
)
 
(452
)
 
(1,788
)
 
(692
)
Loss on sale or disposal of real estate
 
—

 
—

 
(6
)
 
—

Segment EBT
 
(16,656
)
 
(8,798
)
 
(46,778
)
 
(8,205
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2019
 
2018
 
2019
 
2018
Strategic Developments Segment EBT
 
 
 
 
 
 
 
 
Total revenues
 
11,515

 
11,962

 
451,873

 
51,550

Total operating expenses
 
(11,327
)
 
(13,553
)
 
(382,341
)
 
(60,892
)
Segment operating income
 
188

 
(1,591
)
 
69,532

 
(9,342
)
Depreciation and amortization
 
(2,070
)
 
(472
)
 
(4,386
)
 
(2,650
)
Interest income, net
 
3,002

 
2,848

 
9,499

 
9,794

Other income (loss), net
 
354

 
(450
)
 
664

 
(77
)
Equity in earnings (loss) from real estate and other affiliates
 
283

 
(315
)
 
581

 
3,797

Gain on sale or disposal of real estate, net
 
24,201

 
—

 
24,057

 
—

Segment EBT
 
25,958

 
20

 
99,947

 
1,522

 
 
 
 
 
 
 
 
 
Consolidated Segment EBT
 
 
 
 
 
 
 
 
Total revenues
 
231,155

 
257,160

 
1,016,361

 
599,844

Total operating expenses
 
(131,776
)
 
(149,152
)
 
(695,740
)
 
(362,837
)
Segment operating income
 
99,379

 
108,008

 
320,621

 
237,007

Depreciation and amortization
 
(37,769
)
 
(29,329
)
 
(109,323
)
 
(83,429
)
Interest expense, net
 
(15,077
)
 
(7,946
)
 
(35,260
)
 
(14,800
)
Other income (loss), net
 
951

 
(3,319
)
 
2,304

 
(2,782
)
Equity in earnings from real estate and other affiliates
 
4,542

 
8,611

 
20,847

 
39,294

Gain on sale or disposal of real estate, net
 
24,201

 
—

 
24,051

 
—

Selling profit from sales-type leases
 
13,537

 
—

 
13,537

 
—

Consolidated segment EBT
 
89,764

 
76,025

 
236,777

 
175,290

 
 
 
 
 
 
 
 

Corporate income, expenses and other items
 
(59,721
)
 
(52,178
)
 
(161,481
)
 
(155,488
)
Net income
 
30,043

 
23,847

 
75,296

 
19,802

Net income attributable to noncontrolling interests
 
(285
)
 
(482
)
 
(240
)
 
(51
)
Net income attributable to common stockholders
 
$
29,758

 
$
23,365

 
$
75,056

 
$
19,751
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:
 
 
September 30,
 
December 31,
(In thousands)
 
2019
 
2018
Operating Assets
 
$
2,923,083

 
$
2,562,257

Master Planned Communities
 
2,204,507

 
2,076,678

Seaport District
 
918,589

 
839,522

Strategic Developments
 
1,452,738

 
1,538,917

Total segment assets
 
7,498,917

 
7,017,374

Corporate
 
448,998

 
338,425

Total assets
 
$
7,947,915

 
$
7,355,799