Segments (Tables)

3 Months Ended

Mar. 31, 2023

Segment operating results are as follows:


thousands	Operating Assets Segment		MPC Segment		Seaport Segment		Strategic Developments Segment		Total




































Three Months Ended March 31, 2023
Total revenues	$	100,925	$	77,013	$	11,897	$	6,440	$	196,275
Total operating expenses	(47,599)		(34,351)		(18,916)		(11,059)		(111,925)
Segment operating income (loss)	53,326		42,662		(7,019)		(4,619)		84,350

Depreciation and amortization	(39,632)		(107)		(10,527)		(943)		(51,209)
Interest income (expense), net	(28,911)		15,812		1,186		2,063		(9,850)
Other income (loss), net	2,282		(103)		1		94		2,274
Equity in earnings (losses) from unconsolidated ventures	1,905		4,108		(10,820)		5		(4,802)
Gain (loss) on sale or disposal of real estate and other assets, net	4,730		—		—		—		4,730




Segment EBT	$	(6,300)	$	62,372	$	(27,179)	$	(3,400)	$	25,493
Corporate income, expenses, and other items									(48,120)
Net income (loss)									(22,627)
Net (income) loss attributable to noncontrolling interests									(118)
Net income (loss) attributable to common stockholders									$	(22,745)

Three Months Ended March 31, 2022
Total revenues	$	99,687	$	80,692	$	9,376	$	20,456	$	210,211
Total operating expenses	(46,615)		(36,896)		(18,859)		(18,077)		(120,447)
Segment operating income (loss)	53,072		43,796		(9,483)		2,379		89,764
Depreciation and amortization	(38,430)		(90)		(7,823)		(1,332)		(47,675)
Interest income (expense), net	(20,118)		10,422		(47)		3,989		(5,754)
Other income (loss), net	(169)		—		350		(485)		(304)
Equity in earnings (losses) from unconsolidated ventures	15,175		5,550		(3,711)		898		17,912
Gain (loss) on sale or disposal of real estate and other assets, net	—		—		—		(9)		(9)


Gain (loss) on extinguishment of debt	(282)		—		—		—		(282)

Segment EBT	$	9,248	$	59,678	$	(20,714)	$	5,440	$	53,652
Corporate income, expenses, and other items									(51,481)
Net income (loss)									2,171
Net (income) loss attributable to noncontrolling interests									(49)
Net income (loss) attributable to common stockholders									$	2,122

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 Total assets in the Condensed Consolidated Balance Sheets are summarized as follows:


thousands	March 31, 2023		December 31, 2022
Operating Assets	$	3,464,019	$	3,448,823
Master Planned Communities	3,255,892		3,272,655
Seaport	1,162,486		1,166,950
Strategic Developments	1,435,242		1,359,180
Total segment assets	9,317,639		9,247,608
Corporate	262,493		355,855
Total assets	$	9,580,132	$	9,603,463