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SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Summary of segment operating results
Segment operating results for the years ended December 31, 2019, 2018 and 2017 are as follows:

 
 
Year Ended December 31,
(In thousands)
 
2019
 
2018
 
2017
Operating Assets Segment EBT
 
 
 
 
 
 
Total revenues
 
$
400,131

 
$
348,242

 
$
317,296

Total operating expenses
 
(187,322
)
 
(164,445
)
 
(158,421
)
Segment operating income
 
212,809

 
183,797

 
158,875

Depreciation and amortization
 
(115,499
)
 
(103,293
)
 
(117,835
)
Interest expense, net
 
(81,029
)
 
(71,551
)
 
(61,583
)
Other income (loss), net
 
1,142

 
(7,107
)
 
(279
)
Equity in earnings from real estate and other affiliates
 
3,672

 
1,994

 
3,735

(Loss) gain on sale or disposal of real estate and other assets, net
 
—

 
(4
)
 
3,868

Gain on acquisition of joint venture partner's interest
 
—

 
—

 
23,332

Selling profit from sales-type leases
 
13,537

 
—

 
—

Operating Assets segment EBT
 
34,632

 
3,836

 
10,113

 
 
 
 
 
 
 
Master Planned Communities Segment EBT
 
 
 
 
 
 
Total revenues
 
386,781

 
309,451

 
299,543

Total operating expenses
 
(189,727
)
 
(169,474
)
 
(159,895
)
Segment operating income
 
197,054

 
139,977

 
139,648

Depreciation and amortization
 
(424
)
 
(243
)
 
(323
)
Interest income, net
 
32,019

 
26,919

 
24,292

Other income, net
 
601

 
18

 
3,500

Equity in earnings from real estate and other affiliates
 
28,336

 
36,284

 
23,234

MPC segment EBT
 
257,586

 
202,955

 
190,351

 
 
 
 
 
 
 
Seaport District Segment EBT
 
 
 
 
 
 
Total revenues
 
55,645

 
32,632

 
10,259

Total operating expenses
 
(77,872
)
 
(49,716
)
 
(13,136
)
Segment operating income
 
(22,227
)
 
(17,084
)
 
(2,877
)
Depreciation and amortization
 
(26,381
)
 
(12,466
)
 
(6,270
)
Interest (expense) income, net
 
(12,865
)
 
6,291

 
13,229

Other (loss) income, net
 
(22
)
 
102

 
(37
)
Equity in losses from real estate and other affiliates
 
(2,592
)
 
(705
)
 
(643
)
Loss on sale or disposal of real estate and other assets
 
(6
)
 
—

 
—

Gain on extinguishment of debt
 
4,851

 
—

 
—

Seaport District segment EBT
 
(59,242
)
 
(23,862
)
 
3,402

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
Year Ended December 31,
(In thousands)
 
2019
 
2018
 
2017
Strategic Developments Segment EBT
 
 
 
 
 
 
Total revenues
 
457,948

 
374,212

 
473,022

Total operating expenses
 
(391,848
)
 
(290,806
)
 
(360,220
)
Segment operating income
 
66,100

 
83,406

 
112,802

Depreciation and amortization
 
(5,473
)
 
(3,307
)
 
(1,210
)
Interest income, net
 
11,321

 
12,476

 
12,237

Other income, net
 
831

 
3,015

 
109

Equity in earnings (losses) from real estate and other affiliates
 
1,213

 
2,364

 
(373
)
Gain on sale or disposal of real estate and other assets, net
 
27,119

 
—

 
51,242

Strategic Developments EBT
 
101,111

 
97,954

 
174,807

 
 
 
 
 
 
 
Consolidated Segment EBT
 
 
 
 
 
 
Total revenues
 
1,300,505

 
1,064,537

 
1,100,120

Total operating expenses
 
(846,769
)
 
(674,441
)
 
(691,672
)
Segment operating income
 
453,736

 
390,096

 
408,448

Depreciation and amortization
 
(147,777
)
 
(119,309
)
 
(125,638
)
Interest expense, net
 
(50,554
)
 
(25,865
)
 
(11,825
)
Other income (loss), net
 
2,552

 
(3,972
)
 
3,293

Equity in earnings from real estate and other affiliates
 
30,629

 
39,937

 
25,953

Gain (loss) on sale or disposal of real estate and other assets, net
 
27,113

 
(4
)
 
55,110

Gain on acquisition of joint venture partner's interest
 
—

 
—

 
23,332

Selling profit from sales-type leases
 
13,537

 
—

 
—

Gain on extinguishment of debt
 
4,851

 
—

 
—

Consolidated segment EBT
 
334,087

 
280,883

 
378,673

 
 
 
 
 
 
 
Corporate income, expenses and other items
 
(259,792
)
 
(223,157
)
 
(212,050
)
Net income
 
74,295

 
57,726

 
166,623

Net (income) loss attributable to noncontrolling interests
 
(339
)
 
(714
)
 
1,781

Net income attributable to common stockholders
 
$
73,956

 
$
57,012

 
$
168,404
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 Consolidated Balance Sheets are summarized as follows:
 
 
December 31,
(In thousands)
 
2019
 
2018
Operating Assets
 
$
3,476,718

 
$
2,562,257

Master Planned Communities
 
2,166,472

 
2,076,678

Seaport District
 
930,067

 
839,522

Strategic Developments
 
1,540,161

 
1,538,917

Total segment assets
 
8,113,418

 
7,017,374

Corporate
 
300,348

 
338,425

Total assets
 
$
8,413,766

 
$
7,355,799