SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2016

The following table represents operating activity within our reportable segments (in thousands):

The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):



	Three Months Ended March 31,
	2016			2015
Total segments’ profit	$	45,645		$	43,367
General and administrative	(4,549		)	(5,016		)
Depreciation and amortization	(17,453		)	(15,107		)
Interest expense	(12,946		)	(11,795		)
Other income (expense), net	24			(70		)
Net income	10,721			11,379
Net income attributable to restricted shares	(43		)	(43		)
Net income attributable to unitholders in the Operating Partnership	(3,027		)	(3,309		)
Net income attributable to American Assets Trust, Inc. stockholders	$	7,651		$	8,027

The following table shows net real estate and secured note payable balances for each of the segments (in thousands):


(1)	Excludes unamortized fair market value adjustments and debt issuance costs of $4.2 million and $5.0 million as of March 31, 2016 and December 31, 2015, respectively.

Capital expenditures for each segment for the three months ended March 31, 2016 and 2015 were as follows (in thousands):


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


(2)	Multifamily capital expenditures include all capital expenditures incurred for the new development project Hassalo on Eighth, which consists of 657 multifamily units and approximately 47,000 square feet of retail space.