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Segment Reporting
 12 Months Ended
Dec. 31, 2011
Segment Reporting

21. Segment Reporting

 

FASB ASC 280 establishes the manner in which public businesses report information about operating segments in annual and interim financial reports issued to stockholders. FASB ASC 280 defines a segment as a component of an enterprise about which separate financial information is available and that is evaluated regularly to allocate resources and assess performance. The Company conducts its business through two segments: operating real estate (including its investments in owned properties) and debt investments (including its loan investments as well as its investments in securities). For segment reporting purposes, the Company does not allocate interest income on short-term investments or general and administrative expenses.

 

Selected results of operations by segment for the year ended December 31, 2011 are as follows:

 

    Corporate /
Unallocated		     Operating
Real Estate		     Debt
Investments		     Total  
Total revenues   $ 769     $ 142,680     $ 18,894     $ 162,343  
Total expenses     19,388       133,390       12,276       165,054  
Other gain (loss)     -       (1,234 )     (1,816 )     (3,050 )
Income (loss) from continuing operations     (18,619 )     8,055       4,803       (5,761 )
Total assets     78,690       1,468,962       93,971       1,641,623  

 

Selected results of operations by segment for the year ended December 31, 2010 are as follows:

 

    Corporate /
Unallocated		     Operating
Real Estate		     Debt
Investments		     Total  
Total revenues   $ 856     $ 134,437     $ 27,122     $ 162,415  
Total expenses     19,799       129,343       17,996       167,138  
Other gain (loss)     (293 )     -       (7,949 )     (8,242 )
Income (loss) from continuing operations     (19,236 )     5,095       1,176       (12,965 )
Total assets     48,213       1,463,362       358,696       1,870,271  

 

Selected results of operations by segment for the year ended December 31, 2009 are as follows:

 

    Corporate /
Unallocated		     Operating
Real Estate		     Debt
Investments		     Total  
Total revenues   $ 492     $ 143,407     $ 30,269     $ 174,168  
Total expenses     21,196       129,957       19,716       170,869  
Other gain (loss)     9,829       (11,923 )     (10,886 )     (12,980 )
Provision for income tax     -       -       201       201  
Income (loss) from continuing operations     (10,875 )     1,526       (533 )     (9,882 )
Total assets     54,618       1,471,987       377,810       1,904,415