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SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 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 September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Total Retail
 
 
 
 
 
 
 
Property revenue
$
24,177

 
$
23,524

 
$
70,746

 
$
69,175

Property expense
(6,197
)
 
(6,445
)
 
(18,703
)
 
(17,476
)
Segment profit
17,980

 
17,079

 
52,043

 
51,699

Total Office
 
 
 
 
 
 
 
Property revenue
23,416

 
22,664

 
68,721

 
67,598

Property expense
(6,813
)
 
(6,636
)
 
(19,791
)
 
(19,656
)
Segment profit
16,603

 
16,028

 
48,930

 
47,942

Total Multifamily
 
 
 
 
 
 
 
Property revenue
4,320

 
4,155

 
12,660

 
12,004

Property expense
(1,532
)
 
(1,525
)
 
(4,513
)
 
(4,383
)
Segment profit
2,788

 
2,630

 
8,147

 
7,621

Total Mixed-Use
 
 
 
 
 
 
 
Property revenue
15,430

 
14,975

 
41,395

 
41,635

Property expense
(8,731
)
 
(8,592
)
 
(24,541
)
 
(24,931
)
Segment profit
6,699

 
6,383

 
16,854

 
16,704

Total segments’ profit
$
44,070

 
$
42,120

 
$
125,974

 
$
123,966
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 September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Total segments’ profit
$
44,070

 
$
42,120

 
$
125,974

 
$
123,966

General and administrative
(4,682
)
 
(4,031
)
 
(13,929
)
 
(12,658
)
Depreciation and amortization
(16,352
)
 
(16,648
)
 
(50,902
)
 
(50,614
)
Interest expense
(13,325
)
 
(14,764
)
 
(40,396
)
 
(44,244
)
Other income (expense), net
(621
)
 
(419
)
 
352

 
(763
)
Net income
9,090

 
6,258

 
21,099

 
15,687

Net income attributable to restricted shares
(95
)
 
(132
)
 
(259
)
 
(397
)
Net income attributable to unitholders in the Operating Partnership
(2,578
)
 
(1,903
)
 
(6,108
)
 
(4,752
)
Net income attributable to American Assets Trust, Inc. stockholders
$
6,417

 
$
4,223

 
$
14,732

 
$
10,538
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):
 
September 30, 2014
 
December 31, 2013
Net Real Estate
 
 
 
Retail
$
641,406

 
$
651,707

Office
754,608

 
750,890

Multifamily
146,302

 
74,612

Mixed-Use
195,723

 
199,627

 
$
1,738,039

 
$
1,676,836

Secured Notes Payable (1)
 
 
 
Retail
$
302,823

 
$
303,249

Office
426,513

 
427,256

Multifamily
101,444

 
101,444

Mixed-Use
130,310

 
130,310

 
$
961,090

 
$
962,259

(1)
Excludes unamortized fair market value adjustments of $7.9 million and $10.1 million as of September 30, 2014 and December 31, 2013, respectively.
Capital expenditures for each segment
Capital expenditures for each segment for the three and nine months ended September 30, 2014 and 2013 were as follows (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Capital Expenditures (1)
 
 
 
 
 
 
 
Retail
$
2,094

 
$
616

 
$
4,725

 
$
3,143

Office
7,247

 
6,785

 
22,928

 
20,674

Multifamily
25,007

 
5,256

 
66,647

 
11,017

Mixed-Use
445

 
275

 
3,382

 
646

 
$
34,793

 
$
12,932

 
$
97,682

 
$
35,480

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