Segment Information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Information

12. Segment Information

The tables below present information about the Company’s reportable operating segments (in thousands):

	Three Months Ended March 31, 2020
	Shopping Centers			Loan Investments			Other			Total
Rental income	$	112,529		$	—					$	112,529
Other income		16,768			13						16,781
Total revenues		129,297			13						129,310
Rental operation expenses		(36,137	)		—						(36,137	)
Net operating income		93,160			13						93,173
Depreciation and amortization		(42,993	)								(42,993	)
Interest income					3,485						3,485
Other expense, net							$	(17,409	)		(17,409	)
Unallocated expenses(A)								(31,963	)		(31,963	)
Equity in net income of joint ventures		2,171									2,171
Reserve of preferred equity interests, net					(18,057	)					(18,057	)
Gain on sale of joint venture interest		45,681									45,681
Gain on disposition of real estate, net		773									773
Income before tax expense										$	34,861
As of March 31, 2020:
Total gross real estate assets	$	4,726,969								$	4,726,969
Notes receivable, net(B)				$	93,909		$	(93,909	)	$	—

	Three Months Ended March 31, 2019
	Shopping Centers			Loan Investments			Other			Total
Rental income	$	112,221		$	—					$	112,221
Other income		18,787			14						18,801
Total revenues		131,008			14						131,022
Rental operation expenses		(36,584	)		—						(36,584	)
Net operating income		94,424			14						94,438
Impairment charges		(620	)								(620	)
Depreciation and amortization		(42,608	)								(42,608	)
Interest income					4,521						4,521
Other income, net							$	153			153
Unallocated expenses(A)								(35,838	)		(35,838	)
Equity in net income of joint ventures		1,043									1,043
Reserve of preferred equity interests, net					(1,099	)					(1,099	)
Gain on disposition of real estate, net		16,377									16,377
Income before tax expense										$	36,367
As of March 31, 2019:
Total gross real estate assets	$	4,583,366								$	4,583,366
Notes receivable, net(B)				$	195,795		$	(176,120	)	$	19,675

(A) Unallocated expenses consist of General and Administrative Expenses and Interest Expense as listed in the Company’s consolidated statements of operations.  

(B) Amount includes BRE DDR Joint Venture preferred investment interests (Note 3) classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.