Assets Held for Sale and Discontinued Operations

12 Months Ended

Dec. 31, 2012

Assets Held for Sale and Discontinued Operations

9. Assets Held for Sale and Discontinued Operations

We had five land parcels and one operating property that met the criteria to be classified as held for sale at December 31, 2012. The amounts included in held for sale as of December 31, 2012 represented real estate investment balances and the related assets and liabilities for each property.

The operations of the properties held for sale or disposed of to third parties and the aggregate net gains or losses recognized upon their disposition are presented as Discontinued Operations in our Consolidated Statements of Operations for all periods presented. Interest expense is included in discontinued operations only if it is directly attributable to these properties.

Discontinued operations are summarized as follows for the years ended December 31 (in thousands):

	2012			2011			2010
Rental income and recoveries	$	82,719		$	141,547		$	225,064
Rental expenses		(26,665	)		(38,657	)		(64,577	)
Depreciation and amortization		(27,478	)		(51,035	)		(64,027	)
Interest expense		(944	)		(1,217	)		—
Income attributable to disposed properties and assets held for sale		27,632			50,638			96,460
Net gains on dispositions		65,927			64,489			326,004
Impairment charges		(30,596	)		(2,659	)		(87,702	)
Income tax on dispositions		(233	)		(3,216	)		(3,728	)
Total discontinued operations	$	62,730		$	109,252		$	331,034