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SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2016
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,
 
2016
 
2015
 
2016
 
2015
Total Retail
 
 
 
 
 
 
 
Property revenue
$
24,881

 
$
24,376

 
$
49,252

 
$
48,414

Property expense
(6,964
)
 
(6,258
)
 
(13,044
)
 
(12,258
)
Segment profit
17,917

 
18,118

 
36,208

 
36,156

Total Office
 
 
 
 
 
 
 
Property revenue
25,278

 
24,036

 
50,598

 
47,613

Property expense
(7,547
)
 
(6,988
)
 
(15,249
)
 
(13,809
)
Segment profit
17,731

 
17,048

 
35,349

 
33,804

Total Multifamily
 
 
 
 
 
 
 
Property revenue
7,060

 
4,445

 
13,354

 
8,755

Property expense
(2,852
)
 
(1,642
)
 
(5,672
)
 
(3,126
)
Segment profit
4,208

 
2,803

 
7,682

 
5,629

Total Mixed-Use
 
 
 
 
 
 
 
Property revenue
14,600

 
13,912

 
29,346

 
28,022

Property expense
(8,644
)
 
(8,303
)
 
(17,128
)
 
(16,666
)
Segment profit
5,956

 
5,609

 
12,218

 
11,356

Total segments’ profit
$
45,812

 
$
43,578

 
$
91,457

 
$
86,945
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,
 
2016
 
2015
 
2016
 
2015
Total segments’ profit
$
45,812

 
$
43,578

 
$
91,457

 
$
86,945

General and administrative
(4,394
)
 
(4,788
)
 
(8,943
)
 
(9,804
)
Depreciation and amortization
(17,714
)
 
(15,286
)
 
(35,167
)
 
(30,393
)
Interest expense
(13,153
)
 
(11,197
)
 
(26,099
)
 
(22,992
)
Other income (expense), net
99

 
(23
)
 
123

 
(93
)
Net income
10,650

 
12,284

 
21,371

 
23,663

Net income attributable to restricted shares
(43
)
 
(40
)
 
(86
)
 
(83
)
Net income attributable to unitholders in the Operating Partnership
(3,008
)
 
(3,536
)
 
(6,035
)
 
(6,845
)
Net income attributable to American Assets Trust, Inc. stockholders
$
7,599

 
$
8,708

 
$
15,250

 
$
16,735
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, 2016
 
December 31, 2015
Net Real Estate
 
 
 
Retail
$
636,629

 
$
638,893

Office
804,254

 
796,773

Multifamily
205,847

 
208,730

Mixed-Use
187,790

 
190,466

 
$
1,834,520

 
$
1,834,862

Secured Notes Payable (1)
 
 
 
Retail
$
59,749

 
$
60,065

Office
207,127

 
292,183

Multifamily
73,744

 
101,444

Mixed-Use
130,310

 
130,310

 
$
470,930

 
$
584,002

(1)
Excludes unamortized fair market value adjustments and debt issuance costs of $3.4 million and $5.0 million as of June 30, 2016 and December 31, 2015, respectively.
Capital expenditures for each segment
Capital expenditures for each segment for the three and six months ended June 30, 2016 and 2015 were as follows (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Capital Expenditures (1)
 
 
 
 
 
 
 
Retail
$
4,250

 
$
1,756

 
$
9,664

 
$
2,691

Office
10,710

 
14,872

 
21,639

 
29,586

Multifamily (2)
475

 
29,748

 
1,819

 
58,696

Mixed-Use
51

 
166

 
116

 
537

 
$
15,486

 
$
46,542

 
$
33,238

 
$
91,510

(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.