Discontinued Operations

9 Months Ended

Sep. 30, 2021

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations Disclosure Text Block

3. Discontinued Operations

Over the past three years, we sold the remaining assets in our Washington, D.C. portfolio, thereby exiting the Washington, D.C. office market. These dispositions represented a strategic shift in our operations and met the criteria for classifying our Washington, D.C. segment as “discontinued operations,” in accordance with ASC Topic 205, Presentation of Financial Statements. Accordingly, effective March 31, 2020, we reclassified the results of operations of our Washington, D.C. segment as discontinued operations.

The tables below provide the details of the results of operations and the details of the cash flows related to discontinued operations for the periods set forth below.

(Amounts in thousands)	For the Three Months			For the Nine Months
Income Statement: (1)	Ended September 30, 2020			Ended September 30, 2020
Revenues:
Rental revenue	$	3,556		$	10,634
Other income		85			215
Total revenues		3,641			10,849
Expenses:
Operating		1,483			4,333
Depreciation and amortization		-			690
Total expenses		1,483			5,023
Income before income taxes		2,158			5,826
Income tax expense		(11	)		(11	)
Income from discontinued operations, net	$	2,147		$	5,815

(Amounts in thousands)	For the Nine Months
Statement of Cash Flows: (1)	Ended September 30, 2020
Cash provided by operating activities	$	3,262
Additional Cash Flow information:
Depreciation and amortization	$	690

⁽¹⁾ Represents revenues, expenses, net income and cash flow information of 1899 Pennsylvania Avenue, which was sold on December 24, 2020.