Discontinued Operations

6 Months Ended

Jun. 30, 2011

Discontinued Operations

Discontinued Operations

Note 10. Discontinued Operations

For the six months ended June 30, 2011, we sold an industrial building located in Georgia and two shopping centers located in Kansas and Texas. During 2010, we sold a shopping center located in Texas. The operating results of these properties have been reclassified and reported as discontinued operations in the Condensed Consolidated Statements of Income and Comprehensive Income. Revenues recorded in the operating (loss) income from discontinued operations for the three and six months ended June 30, 2011 totaled $.6 million and $1.6 million, respectively. Revenues recorded in operating (loss) income from discontinued operations for the three and six months ended June 30, 2010 totaled $1.0 million and $2.0 million, respectively. Included in the Condensed Consolidated Balance Sheet at December 31, 2010 were $40.6 million of property and $9.4 million of accumulated depreciation related to properties sold during the six months ended June 30, 2011.

For the three and six months ended June 30, 2011, impairment losses of $2.4 million and $2.8 million, respectively, were reported in discontinued operations. No impairment was recognized during the three and six months ended June 30, 2010.

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.