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Discontinued Operations
 6 Months Ended
Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
For the six months ended June 30, 2013, we sold 10 centers of which five properties were located in Texas, two in Florida and one each in Nevada, New Mexico and Tennessee. As of June 30, 2013, we classified one property as held for sale that consisted of property and accumulated depreciation totaling $11.8 million and $3.1 million, respectively.
During 2012, we sold 27 shopping centers, 54 industrial properties, and we assigned a 75% consolidated joint venture interest to our partner. Of these dispositions, 55 were located in Texas, six each in Florida and Georgia, three in North Carolina, two each in Colorado, Louisiana and Virginia and one each in Arizona, Illinois, Kansas, Maine, Oklahoma and Tennessee. As part of these 2012 dispositions, we sold, in May 2012, a portfolio of 52 wholly-owned industrial properties in order to exit the industrial real estate market and further align and strengthen our position solely as a retail REIT. As of December 31, 2012, no property was classified as held for sale.
Included in the Condensed Consolidated Balance Sheet at December 31, 2012 was $126.2 million of property and $50.9 million of accumulated depreciation related to the 10 properties that were sold during 2013, as well as the one property classified as held for sale.
The operating results of these properties, which includes the one property held for sale, have been reclassified and reported as discontinued operations in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows (in thousands):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Revenues, net
$
3,460

 
$
18,445

 
$
8,558

 
$
41,479

Depreciation and amortization
(686
)
 
(2,044
)
 
(1,712
)
 
(8,628
)
Operating expenses
(848
)
 
(3,993
)
 
(1,777
)
 
(8,094
)
Real estate taxes, net
(230
)
 
(2,317
)
 
(776
)
 
(5,671
)
Impairment loss
—

 
(2,515
)
 
(236
)
 
(5,686
)
General and administrative
(3
)
 
(1,946
)
 
(3
)
 
(1,960
)
Interest, net
(244
)
 
(759
)
 
(793
)
 
(1,604
)
Provision for income taxes
(70
)
 
(332
)
 
(81
)
 
(344
)
Operating income from discontinued operations
1,379

 
4,539

 
3,180

 
9,492

Gain on sale of property from discontinued operations
78,012

 
31,264

 
78,012

 
34,898

Income from discontinued operations
$
79,391

 
$
35,803

 
$
81,192

 
$
44,390


We do not allocate other consolidated interest to discontinued operations because the interest savings to be realized from the proceeds of the sale of these operations is not material.