SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2023

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,
		2023		2022
Total segments’ profit		$	68,616	$	65,896
General and administrative		(8,999)		(7,142)
Depreciation and amortization		(29,901)		(30,412)
Interest expense, net		(15,729)		(14,666)


Other income (expense), net		6,679		(162)





Net income		20,666		13,514
Net income attributable to restricted shares		(189)		(155)
Net income attributable to unitholders in the Operating Partnership		(4,341)		(2,836)
Net income attributable to American Assets Trust, Inc. stockholders		$	16,136	$	10,523

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

(1)Excludes debt issuance costs of $0.4 million and $0.4 million for each of the periods ended March 31, 2023 and December 31, 2022, respectively.

Capital expenditures for each segment for the three months ended March 31, 2023 and 2022 were as follows (in thousands):

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