COMPONENTS OF RENTAL INCOME AND EXPENSE

12 Months Ended

Dec. 31, 2012

COMPONENTS OF RENTAL INCOME AND EXPENSE

NOTE 14. COMPONENTS OF RENTAL INCOME AND EXPENSE

The principal components of rental income are as follows (in thousands):

	Year Ended December 31,
	2012		2011		2010
Minimum rents
Retail	$	67,046	$	63,996	$	57,509
Office		71,817		53,457		23,661
Multifamily		13,796		13,246		13,076
Mixed-Use		8,893		8,478		—
Cost reimbursement		27,763		24,463		18,576
Percentage rent		2,608		1,967		1,217
Hotel revenue		31,729		27,125		—
Other		1,597		1,436		1,126
Total rental income	$	225,249	$	194,168	$	115,165

Minimum rents include $7.2 million, $4.8 million and none for the years ended December 31, 2012, 2011 and 2010, respectively, to recognize minimum rents on a straight-line basis. In addition, minimum rents include $(0.2) million, $(1.1) million and $(1.1) million for the years ended December 31, 2012, 2011 and 2010, respectively, to recognize the amortization of above and below market leases.

The principal components of rental expenses are as follows (in thousands):

	Year Ended December 31,
	2012		2011		2010
Rental operating	$	24,264	$	22,008	$	12,415
Hotel operating		20,905		18,885		—
Repairs and maintenance		9,452		8,082		5,102
Marketing		1,266		1,390		674
Rent		2,378		2,767		1,182
Hawaii excise tax		3,813		3,379		1,058
Management fees		2,011		1,622		89
Total rental expenses	$	64,089	$	58,133	$	20,520