Real Estate Activities (Tables)

9 Months Ended

Sep. 30, 2014

Investments in real estate as of September 30, 2014 and December 31, 2013 were comprised of the following:



(in thousands of dollars)	As of September 30, 2014			As of December 31, 2013
Buildings, improvements and construction in progress	$	2,808,363		$	3,049,758
Land, including land held for development	447,102			478,110
Total investments in real estate	3,255,465			3,527,868
Accumulated depreciation	(1,028,846		)	(1,012,746		)
Net investments in real estate	$	2,226,619		$	2,515,122

Summary of Capitalized Salaries, Commissions and Benefits, Real Estate Taxes and Interest

The following table summarizes our capitalized salaries, commissions and benefits, real estate taxes and interest for the three and nine months ended September 30, 2014 and 2013:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands of dollars)	2014		2013		2014		2013
Development/Redevelopment Activities:
Salaries and benefits	$	201	$	272	$	1,026	$	585
Real estate taxes	4		4		4		4
Interest	201		331		494		620
Leasing Activities:
Salaries, commissions and benefits	1,394		1,180		4,223		3,902

Summary of Revenue and Expense Information for Discontinued Operations

following table summarizes revenue and expense information for the three and nine months ended September 30, 2013 for these discontinued operations (there were no properties classified in discontinued operations in the three or nine months ended September 30, 2014):



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands of dollars)		2013				2013
Real estate revenue		$	2,491			$	9,379
Expenses:
Operating expenses		(1,109		)		(3,989		)
Depreciation and amortization		(345		)		(1,074		)
Interest expense		(494		)		(1,753		)
Total expenses		(1,948		)		(6,816		)
Operating results from discontinued operations		543				2,563
Impairment of assets of discontinued operations		(23,662		)		(23,662		)
Gains on sales of discontinued operations		45,097				78,351
Income from discontinued operations		$	21,978			$	57,252

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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