Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

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

	Three Months Ended September 30, 2020
	Shopping Centers			Loan Investments		Other			Total
Rental income	$	95,874		$	—				$	95,874
Other income		9,680			—					9,680
Total revenues		105,554			—					105,554
Rental operation expenses		(32,317	)		—					(32,317	)
Net operating income		73,237			—					73,237
Depreciation and amortization		(41,148	)							(41,148	)
Interest income					3,445					3,445
Other expense, net						$	(186	)		(186	)
Unallocated expenses^(A)							(31,753	)		(31,753	)
Equity in net income of joint ventures		250								250
Adjustment of preferred equity interests, net					3,542					3,542
Gain on sale of joint venture interest		82								82
Gain on disposition of real estate, net		218								218
Income before tax expense									$	7,687

	Three Months Ended September 30, 2019
	Shopping Centers			Loan Investments			Other			Total
Rental income	$	108,060		$	—		$	—		$	108,060
Other income		13,567			13			—			13,580
Business interruption income		—			—			885			885
Total revenues		121,627			13			885			122,525
Rental operation expenses		(33,456	)		(3	)		—			(33,459	)
Net operating income		88,171			10			885			89,066
Impairment charges		(2,750	)								(2,750	)
Depreciation and amortization		(40,732	)								(40,732	)
Interest income					4,616						4,616
Other expense, net								(322	)		(322	)
Unallocated expenses^(A)								(36,464	)		(36,464	)
Equity in net income of joint ventures		2,612									2,612
Reserve of preferred equity interests, net					(6,373	)					(6,373	)
Gain on disposition of real estate, net		14,497									14,497
Income before tax expense										$	24,150

	Nine Months Ended September 30, 2020
	Shopping Centers			Loan Investments			Other			Total
Rental income	$	306,482		$	—					$	306,482
Other income		35,940			13						35,953
Total revenues		342,422			13						342,435
Rental operation expenses		(102,321	)		—						(102,321	)
Net operating income		240,101			13						240,114
Depreciation and amortization		(125,014	)								(125,014	)
Interest income					10,480						10,480
Other expense, net							$	(18,207	)		(18,207	)
Unallocated expenses^(A)								(97,029	)		(97,029	)
Equity in net income of joint ventures		908									908
Reserve of preferred equity interests, net					(19,393	)					(19,393	)
Gain on sale of joint venture interest		45,635									45,635
Gain on disposition of real estate, net		993									993
Income before tax expense										$	38,487

As of September 30, 2020:
Total gross real estate assets	$	4,747,661								$	4,747,661
Notes receivable, net^(B)				$	94,228		$	(94,228	)	$	—

	Nine Months Ended September 30, 2019
	Shopping Centers			Loan Investments			Other			Total
Rental income	$	332,555		$	—		$	—		$	332,555
Other income		48,722			42			—			48,764
Business interruption income		—			—			885			885
Total revenues		381,277			42			885			382,204
Rental operation expenses		(106,574	)		(10	)		—			(106,584	)
Net operating income		274,703			32			885			275,620
Impairment charges		(3,370	)								(3,370	)
Depreciation and amortization		(123,400	)								(123,400	)
Interest income					13,658						13,658
Other expense, net								(254	)		(254	)
Unallocated expenses^(A)								(108,321	)		(108,321	)
Equity in net income of joint ventures		5,446									5,446
Reserve of preferred equity interests, net					(12,106	)					(12,106	)
Gain on disposition of real estate, net		31,087									31,087
Income before tax expense										$	78,360

As of September 30, 2019:
Total gross real estate assets	$	4,609,930								$	4,609,930
Notes receivable, net^(B)				$	182,400		$	(162,730	)	$	19,670

(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.