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SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Schedule of segments operating activity
The following table represents operating activity within our reportable segments (in thousands): 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Total Retail
 
 
 
 
 
 
 
Property revenue
$
23,570

 
$
23,497

 
$
46,569

 
$
45,651

Property expense
(6,448
)
 
(6,060
)
 
(12,506
)
 
(11,031
)
Segment profit
17,122

 
17,437

 
34,063

 
34,620

Total Office
 
 
 
 
 
 
 
Property revenue
22,433

 
22,512

 
45,264

 
44,934

Property expense
(6,085
)
 
(6,584
)
 
(12,978
)
 
(13,020
)
Segment profit
16,348

 
15,928

 
32,286

 
31,914

Total Multifamily
 
 
 
 
 
 
 
Property revenue
4,210

 
3,974

 
8,340

 
7,849

Property expense
(1,554
)
 
(1,416
)
 
(2,981
)
 
(2,858
)
Segment profit
2,656

 
2,558

 
5,359

 
4,991

Total Mixed-Use
 
 
 
 
 
 
 
Property revenue
11,972

 
12,931

 
25,965

 
26,660

Property expense
(7,542
)
 
(8,102
)
 
(15,810
)
 
(16,339
)
Segment profit
4,430

 
4,829

 
10,155

 
10,321

Total segments’ profit
$
40,556

 
$
40,752

 
$
81,863

 
$
81,846
Reconciliation of segment profit to net income attributable to stockholders
The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Total segments’ profit
$
40,556

 
$
40,752

 
$
81,863

 
$
81,846

General and administrative
(4,635
)
 
(4,426
)
 
(9,247
)
 
(8,627
)
Depreciation and amortization
(18,209
)
 
(16,953
)
 
(34,550
)
 
(33,966
)
Interest expense
(13,439
)
 
(14,744
)
 
(27,071
)
 
(29,480
)
Other income (expense), net
1,078

 
(65
)
 
1,014

 
(344
)
Net income
5,351

 
4,564

 
12,009

 
9,429

Net income attributable to restricted shares
(94
)
 
(133
)
 
(164
)
 
(265
)
Net income attributable to unitholders in the Operating Partnership
(1,544
)
 
(1,354
)
 
(3,530
)
 
(2,849
)
Net income attributable to American Assets Trust, Inc. stockholders
$
3,713

 
$
3,077

 
$
8,315

 
$
6,315
Net real estate and secured note payable balances by segments
The following table shows net real estate and secured note payable balances for each of the segments (in thousands):
 
June 30, 2014
 
December 31, 2013
Net Real Estate
 
 
 
Retail
$
644,811

 
$
651,707

Office
751,171

 
750,890

Multifamily
116,513

 
74,612

Mixed-Use
197,531

 
199,627

 
$
1,710,026

 
$
1,676,836

Secured Notes Payable (1)
 
 
 
Retail
$
302,963

 
$
303,249

Office
426,758

 
427,256

Multifamily
101,444

 
101,444

Mixed-Use
130,310

 
130,310

 
$
961,475

 
$
962,259

(1)
Excludes unamortized fair market value adjustments of $8.6 million and $10.1 million as of June 30, 2014 and December 31, 2013, respectively.
Capital expenditures for each segment
Capital expenditures for each segment for the three and six months ended June 30, 2014 and 2013 were as follows (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Capital Expenditures (1)
 
 
 
 
 
 
 
Retail
$
1,125

 
$
580

 
$
2,631

 
$
2,527

Office
8,590

 
11,439

 
15,681

 
19,301

Multifamily
19,763

 
206

 
41,640

 
349

Mixed-Use
2,115

 
83

 
2,937

 
371

 
$
31,593

 
$
12,308

 
$
62,889

 
$
22,548

(1)
Capital expenditures represent cash paid for capital expenditures during the period and include leasing commissions paid.