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Segment Results (Tables)
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Segment results
Segment results for the three and six months ended June 30, 2015 and 2014 were as follows (in millions):
 
Quarter Ended June 30,
 
Six Months Ended June 30,
 
 
 
2015
 
2014
 
2015
 
2014
Revenue:
 
 
 
 
 
 
 
Real Estate1:
 
 
 
 
 
 
 
Leasing
$
34.8

 
$
31.0

 
$
67.5

 
$
62.2

Development and sales
52.4

 
21.4

 
88.9

 
92.4

Less amounts reported in discontinued operations

 

 

 
(70.4
)
Materials and construction
57.4

 
64.5

 
114.3

 
114.7

Agribusiness
25.8

 
29.8

 
54.7

 
42.7

Reconciling item2
(16.7
)
 

 
(21.0
)
 

Total revenue
$
153.7

 
$
146.7

 
$
304.4

 
$
241.6

Operating Profit (Loss), Net Income:
 
 
 
 
 
 
 
Real Estate1:
 
 
 
 
 
 
 
Leasing
$
13.9

 
$
12.0

 
$
27.1

 
$
23.8

Development and sales
14.3

 
7.8

 
46.3

 
60.1

Less amounts reported in discontinued operations

 

 

 
(56.2
)
Materials and construction
7.0

 
8.0

 
14.2

 
11.4

Agribusiness
(4.7
)
 
0.4

 
(2.8
)
 
3.5

Total operating profit
30.5

 
28.2

 
84.8

 
42.6

Interest expense
(6.6
)
 
(7.2
)
 
(13.7
)
 
(14.5
)
General corporate expenses
(5.3
)
 
(4.3
)
 
(10.9
)
 
(9.5
)
Reduction in KRS II carrying value
(1.5
)
 

 
(1.6
)
 

Income from continuing operations before income taxes
17.1

 
16.7

 
58.6

 
18.6

Income tax expense
7.0

 
6.5

 
22.6

 
7.3

Income from continuing operations
10.1

 
10.2

 
36.0

 
11.3

Income from discontinued operations (net of income taxes)

 

 

 
34.3

Net income
10.1

 
10.2

 
36.0

 
45.6

Income attributable to noncontrolling interest
(0.3
)
 
(1.0
)
 
(0.9
)
 
(1.4
)
Net income attributable to A&B
$
9.8

 
$
9.2

 
$
35.1

 
$
44.2


1  
Prior year amounts recast for amounts treated as discontinued operations.
2 
Represents the deduction of revenue from the sales of a Colorado retail property in March 2015 and a Texas office building in June 2015 that are classified as "Gain on the sale of improved property" in the Condensed Consolidated Statements of Income, but reflected as revenue for segment reporting purposes.