Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues (in thousands): 

	Three Months Ended March 31,
	2019		2018
Revenues
Rental Operations:
Industrial	$	208,403	$	189,315
Non-reportable Rental Operations	1,452		3,453
Service Operations	54,964		41,101
Total segment revenues	264,819		233,869
Other revenue	110		688
Consolidated revenue from continuing operations	264,929		234,557
Discontinued operations	—		5
Consolidated revenue	$	264,929	$	234,562

Summary of Net Operation Income

The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes (in thousands and excluding discontinued operations): 

	Three Months Ended March 31,
	2019			2018
PNOI
Industrial	$	148,901		$	128,143
Non-reportable Rental Operations	876			1,037
PNOI, excluding all sold properties	149,777			129,180
PNOI from sold properties included in continuing operations	(27		)	6,735
PNOI, continuing operations	$	149,750		$	135,915
Earnings from Service Operations	2,378			692
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	5,704			6,288
Revenues related to lease buyouts	19			23
Amortization of lease concessions and above and below market rents	1,262			545
Intercompany rents and other adjusting items	45			15
Non-Segment Items:
Equity in earnings of unconsolidated joint ventures	4,715			8,287
Interest expense	(22,132		)	(20,000		)
Depreciation and amortization expense	(75,992		)	(77,529		)
(Loss) gain on sale of properties	(163		)	44,886
Interest and other income, net	2,758			4,463
General and administrative expenses	(21,983		)	(21,023		)
Gain on land sales	750			2,949
Other operating expenses	(2,123		)	(786		)
Loss on extinguishment of debt	(13		)	—
Gain on involuntary conversion	2,259			—
Non-incremental costs related to successful leases	(2,156		)	—
Other non-segment revenues and expenses, net	75			(872		)
Income from continuing operations before income taxes	$	45,153		$	83,853