Discontinued Operations

3 Months Ended

Mar. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations.  In the first quarter of 2015, the Company sold a 46,500 square foot retail property in Colorado that was not classified as discontinued operations pursuant to Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (ASU 2014-08). The Company sold a retail property on Maui whose revenues and expenses were classified as discontinued operations because the sale met the conditions for classification as discontinued operations for 2014.

The revenue, operating profit, income tax expense and after-tax effects of sales treated as discontinued operations were as follows (in millions): 

	Quarter Ended
	March 31,
	2015		2014
Proceeds from the sale of income-producing properties	$	—	$	70.1
Real estate leasing revenue	—		0.3
	$	—	$	70.4
Gain on sale of income-producing properties	$	—	$	55.9
Real estate leasing operating profit	—		0.3
Total operating profit before taxes	—		56.2
Income tax expense	—		21.9
Income from discontinued operations	$	—	$	34.3