Discontinued operations (Tables)

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Summary of net assets of discontinued operations and (loss) income from discontinued operations, net

The following is a summary of net assets of discontinued operations and (loss) income from discontinued operations (in thousands):



	September 30, 2014			December 31, 2013
Properties “held for sale,” net	$	7,648		$	7,644
Other assets	20			103
Total assets	7,668			7,747

Total liabilities	(172		)	(266		)
Net assets of discontinued operations	$	7,496		$	7,481



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Total revenues	$	—		$	319		$	—		$	4,658
Operating expenses	180			126			489			1,856
Total revenues less operating expenses from discontinued operations	(180		)	193			(489		)	2,802
Depreciation expense	—			236			—			1,638
Loss on sale of real estate	—			—			—			121
(Loss) income from discontinued operations⁽¹⁾	$	(180	)	$	(43	)	$	(489	)	$	1,043

(1)

(Loss) income from discontinued operations includes the results of operations of four properties that were classified as “held for sale” as of September 30, 2014, as well as the results of operations (prior to disposition) and gain on sale of real estate attributable to seven properties sold during the period from January 1, 2013, to September 30, 2014. In October 2014, we completed the sale of one property which was classified as “held for sale” as of September 30, 2014.

- 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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