Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets during the quarters ended March 31, 2014 and 2013 (amounts in thousands).



	Quarter Ended March 31,
	2014			2013
REVENUES
Rental income	$	1,023		$	81,782
Total revenues	1,023			81,782

EXPENSES (1)
Property and maintenance	48			20,424
Real estate taxes and insurance	13			8,594
Property management	—			1
Depreciation	—			23,816
General and administrative	5			8
Total expenses	66			52,843

Discontinued operating income	957			28,939

Interest and other income	35			52
Other expenses	—			(2		)
Interest (2):
Expense incurred, net	—			(1,252		)
Amortization of deferred financing costs	—			(228		)
Income and other tax (expense) benefit	(29		)	(58		)

Discontinued operations	963			27,451
Net gain on sales of discontinued operations	71			1,198,922

Discontinued operations, net	$	1,034		$	1,226,373


(1)	Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.


(2)	Includes only interest expense specific to secured mortgage notes payable for properties sold.

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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