Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Net Income (Loss) by Reportable Segment

FFO is reconciled to net income (loss) on a total Company basis (in thousands):



Year ended December 31, 2013	Office		Retail		Land		Third Party Management and Leasing			Other			Total
Net operating income	$	122,503	$	13,278	$	—	$	—		$	2,299		$	138,080
Sales less costs of sales	—		—		1,273		—			191			1,464
Fee income	—		—		—		76			10,891			10,967
Other income	—		—		—		—			3,528			3,528
Gain on sale of third party management and leasing business	—		—		—		4,576			—			4,576
Third party management and leasing expenses	—		—		—		(97		)	—			(97		)
Separation expenses	—		—		—		—			(520		)	(520		)
General and administrative expenses	—		—		—		—			(21,940		)	(21,940		)
Reimbursed expenses	—		—		—		—			(5,215		)	(5,215		)
Interest expense	—		—		—		—			(29,672		)	(29,672		)
Other expenses	—		—		—		—			(11,373		)	(11,373		)
Preferred stock dividends and original issuance costs	—		—		—		—			(12,664		)	(12,664		)
Funds from operations available to common stockholders	$	122,503	$	13,278	$	1,273	$	4,555		$	(64,475	)	77,134
Real estate depreciation and amortization, including Company's share of joint ventures													(92,041		)
Gain on sale of depreciated investment properties, including Company's share of joint ventures													127,401
Non-controlling interest related to the sale of depreciated properties													(3,397		)
Net income available to common stockholders													$	109,097
Total Assets	$	2,163,123	$	18,112	$	47,235	$	—		$	44,736		$	2,273,206



Year ended December 31, 2012	Office		Retail		Land		Third Party Management and Leasing			Other			Total
Net operating income	$	80,907	$	29,429	$	—	$	—		$	121		$	110,457
Sales less costs of sales	—		—		4,915		—			309			5,224
Fee income	—		—		—		16,365			17,797			34,162
Other income	—		—		—		—			5,153			5,153
Gain on sale of third party management and leasing business	—		—		—		7,459			—			7,459
Third party management and leasing expenses	—		—		—		(13,675		)	—			(13,675		)
Separation expenses	—		—		—		—			(1,985		)	(1,985		)
General and administrative expenses	—		—		—		—			(23,208		)	(23,208		)
Reimbursed expenses	—		—		—		—			(7,063		)	(7,063		)
Interest expense	—		—		—		—			(28,154		)	(28,154		)
Impairment loss	—		—		—		—			(488		)	(488		)
Loss on extinguishment of debt	—		—		—		—			(94		)	(94		)
Other expenses	—		—		—		—			(8,389		)	(8,389		)
Preferred stock dividends	—		—		—		—			(12,907		)	(12,907		)
Funds from operations available to common stockholders	$	80,907	$	29,429	$	4,915	$	10,149		$	(58,908	)	66,492
Real estate depreciation and amortization, including Company's share of joint ventures													(62,043		)
Impairment losses on depreciable investment properties, net of amounts attributable to noncontrolling interests													(11,748		)
Gain on sale of depreciated investment properties including the Company's share of joint ventures													41,944
Other													(1,824		)
Net loss available to common stockholders													$	32,821
Total Assets	$	736,867	$	151,417	$	50,520	$	—		$	185,438		$	1,124,242



Year ended December 31, 2011	Office		Retail		Land		Third Party Management and Leasing			Other			Total
Net operating income	$	75,387	$	31,583	$	—	$	—		$	3,583		$	110,553
Sales less costs of sales	—		—		5,236		—			2,250			7,486
Fee income	—		—		—		19,359			13,821			33,180
Other income	—		—		—		—			2,204			2,204
Third party management and leasing expenses	—		—		—		(16,585		)	—			(16,585		)
Separation expenses	—		—		—		—			(197		)	(197		)
General and administrative expenses	—		—		—		—			(24,166		)	(24,166		)
Reimbursed expenses	—		—		—		—			(6,208		)	(6,208		)
Interest expense	—		—		—		—			(32,515		)	(32,515		)
Impairment losses	—		—		—		—			(129,134		)	(129,134		)
Loss on extinguishment of debt	—		—		—		—			(74		)	(74		)
Other expenses	—		—		—		—			(8,512		)	(8,512		)
Preferred stock dividends	—		—		—		—			(12,907		)	(12,907		)
Funds from operations available to common stockholders	$	75,387	$	31,583	$	5,236	$	2,774		$	(191,855	)	(76,875		)
Real estate depreciation and amortization, including Company's share of joint ventures													(62,710)
Impairment losses on depreciable investment properties, net of amounts attributable to noncontrolling interests													(7,632)
Gain on sale of depreciated investment properties, including Company's share of joint ventures													5,885
Net loss available to common stockholders													$	(141,332	)
Total Assets	$	732,857	$	375,923	$	108,172	$	4,302		$	14,281		$	1,235,535

Reconciliation of Revenues per Segment to Consolidated Revenues

The following table reconciles information presented in the tables above to the Company’s consolidated revenues (in thousands):



	2013			2012			2011
Net operating income	$	138,080		$	110,457		$	110,553
Sales less cost of sales	1,464			5,224			7,486
Fee income	10,967			34,162			33,180
Other income	3,528			5,153			2,204
Rental property operating expenses	90,498			50,329			40,817
Cost of sales	1,753			1,833			5,378
Net operating income in joint ventures	(27,763		)	(23,596		)	(24,258		)
Sales less cost of sales in joint ventures	(111		)	(28		)	(1,927		)
Net operating income in discontinued operations	(6,390		)	(22,983		)	(32,410		)
Fee income in discontinued operations	(76		)	(16,364		)	(19,359		)
Other income in discontinued operations	(64		)	(3,622		)	(281		)
(Gain) loss on land sales (included in gain on investment properties)	(1,145		)	(3,719		)	(3,258		)
Total consolidated revenues	$	210,741		$	136,846		$	118,125

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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