REPORTABLE SEGMENTS

The Company's segments are based on the Company's method of internal reporting which classifies operations by property type and geographical area. The segments by property type are: Office and Mixed-Use. The segments by geographical region are: Atlanta, Austin, Charlotte, Phoenix, Tampa, Orlando, and Other. In the fourth quarter of 2017, the Company sold its properties in the Orlando market as part of its ongoing investment strategy of exiting non-core markets and recycling investment capital to fund investment activity. These reportable segments represent an aggregation of operating segments reported to the Chief Operating Decision Maker based on similar economic characteristics that include the type of property and the geographical location. Each segment includes both consolidated operations and the Company's share of unconsolidated joint venture operations.

Company management evaluates the performance of its reportable segments in part based on net operating income (“NOI”). NOI represents rental property revenues less rental property operating expenses. NOI is not a measure of cash flows or operating results as measured by GAAP, is not indicative of cash available to fund cash needs, and should not be considered an alternative to cash flows as a measure of liquidity. All companies may not calculate NOI in the same manner. The Company considers NOI to be an appropriate supplemental measure to net income as it helps both management and investors understand the core operations of the Company's operating assets. NOI excludes corporate general and administrative expenses, interest expense, depreciation and amortization, impairments, gains/loss on sales of real estate, and other non-operating items.

Segment net income, amount of capital expenditures, and total assets are not presented in the following tables because management does not utilize these measures when analyzing its segments or when making resource allocation decisions. Information on the Company's segments along with a reconciliation of NOI to net income for the three months ended March 31, 2018 and 2017 are as follows (in thousands):



Three Months Ended March 31, 2018	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	32,165	$	—	$	32,165
Austin	14,941		—		14,941
Charlotte	15,842		—		15,842
Phoenix	8,974		—		8,974
Tampa	7,728		—		7,728
Other	440		488		928
Total Net Operating Income	$	80,090	$	488	$	80,578



Three Months Ended March 31, 2017	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	29,972	$	2,272	$	32,244
Charlotte	15,426		—		15,426
Austin	14,187		—		14,187
Phoenix	7,217		—		7,217
Tampa	6,837		—		6,837
Orlando	3,790		—		3,790
Other	466		—		466
Total Net Operating Income	$	77,895	$	2,272	$	80,167

The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands):



	Three Months Ended March 31,
	2018			2017
Net Operating Income	$	80,578		$	80,167
Net operating income from unconsolidated joint ventures	(7,421		)	(9,176		)
Fee income	2,894			1,936
Other income	960			5,426
Reimbursed expenses	(942		)	(865		)
General and administrative expenses	(6,809		)	(6,182		)
Interest expense	(9,778		)	(9,741		)
Depreciation and amortization	(45,093		)	(54,884		)
Acquisition and transaction costs	(91		)	(1,930		)
Loss on extinguishment of debt	(85		)	—
Other expenses	(320		)	(404		)
Income from unconsolidated joint ventures	2,885			581
Loss on sale of investment properties	(372		)	(70		)
Net Income	$	16,406		$	4,858

Revenues by reportable segment, including a reconciliation to total rental property revenues on the condensed consolidated statements of operations, for three months ended March 31, 2018 and 2017 are as follows (in thousands):



Three Months Ended March 31, 2018	Office			Mixed-Use			Total
Revenues:
Atlanta	$	49,466		$	—		$	49,466
Austin	26,576			—			26,576
Charlotte	23,041			—			23,041
Tampa	12,536			—			12,536
Phoenix	12,060			—			12,060
Other	524			795			1,319
Total segment revenues	124,203			795			124,998
Less: Company's share of rental property revenues from unconsolidated joint ventures	(10,855		)	(795		)	(11,650		)
Total rental property revenues	$	113,348		$	—		$	113,348



Three Months Ended March 31, 2017	Office			Mixed-Use			Total
Revenues:
Atlanta	$	47,521		$	3,691		$	51,212
Austin	24,534			—			24,534
Charlotte	22,743			—			22,743
Tampa	11,303			—			11,303
Phoenix	10,117			—			10,117
Orlando	6,641			—			6,641
Other	817			—			817
Total segment revenues	123,676			3,691			127,367
Less: Company's share of rental property revenues from unconsolidated joint ventures	(11,159		)	(3,691		)	(14,850		)
Total rental property revenues	$	112,517		$	—		$	112,517