Components Of Rental Income

12 Months Ended

Dec. 31, 2014

Components Of Rental Income and Expense [Abstract]

COMPONENTS OF RENTAL INCOME AND EXPENSE

COMPONENTS OF RENTAL INCOME AND EXPENSE

The principal components of rental income are as follows:

	Year Ended December 31,
	2014		2013		2012
	(In thousands)
Minimum rents
Retail and commercial	$	472,602	$	448,058	$	420,989
Residential	36,099		28,902		27,611
Cost reimbursement	135,592		122,578		112,424
Percentage rent	10,169		9,359		8,568
Other	11,860		11,192		10,522
Total rental income	$	666,322	$	620,089	$	580,114

Minimum rents include the following:

	Year Ended December 31,
	2014		2013		2012
	(In millions)
Straight-line rents	$	5.1	$	5.4	$	6.1
Net amortization of above and below market leases	$	2.4	$	3.1	$	1.1

The principal components of rental expenses are as follows:

	Year Ended December 31,
	2014		2013		2012
	(In thousands)
Repairs and maintenance	$	55,444	$	46,600	$	41,550
Utilities	20,499		19,219		19,201
Management fees and costs	17,416		16,250		15,167
Payroll	11,554		9,237		8,691
Marketing	9,532		8,664		7,321
Insurance	6,462		6,811		6,267
Ground Rent	1,952		1,916		2,189
Bad debt expense	2,021		442		2,173
Other operating	10,537		9,556		10,057
Total rental expenses	$	135,417	$	118,695	$	112,616