Discontinued Operations and Gain (Loss) on Disposition of Rental Properties (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Summary of Rental Properties Included in Discontinued Operations

The following table summarizes the rental properties included in discontinued operations:

Property	Location	Square Feet/ Number of Units (Unaudited)	Period Disposed	Year Ended 12/31/14	11 Months Ended 12/31/13	Year Ended 1/31/13
Commercial Group:
Promenade Bolingbrook	Bolingbrook, Illinois	771,000 square feet	Q2-2014	Yes	Yes	Yes
Quartermaster Plaza	Philadelphia, Pennsylvania	456,000 square feet	Q1-2014	Yes	Yes	Yes
Mesa del Sol - 5600 University SE	Albuquerque, New Mexico	87,000 square feet	Q1-2014	Yes	Yes	Yes
Orchard Town Center	Westminster, Colorado	603,000 square feet	Q4-2013	—	Yes	Yes
Colorado Studios	Denver, Colorado	75,000 square feet	Q3-2013	—	Yes	Yes
Higbee Building	Cleveland, Ohio	815,000 square feet	Q2-2013	—	Yes	Yes
Sheraton Station Square	Pittsburgh, Pennsylvania	399 rooms	Q2-2013	—	Yes	Yes
Fairmont Plaza	San Jose, California	335,000 square feet	Q4-2012	—	—	Yes
White Oak Village	Richmond, Virginia	843,000 square feet	Q3-2012	—	—	Yes
Quebec Square	Denver, Colorado	739,000 square feet	Q1-2012	—	—	Yes
Seven triple net lease properties	Various	422,000 square feet	Various	—	Yes	Yes
Residential Group:
Millender Center	Detroit, Michigan	339 units	Q1-2013	—	Yes	Yes
Emerald Palms	Miami, Florida	505 units	Q4-2012	—	—	Yes
Southfield	Whitemarsh, Maryland	212 units	Q3-2012	—	—	Yes

Summary of Operating Results of Discontinued Operations

The following table summarizes the operating results related to discontinued operations:

	Year Ended			11 Months Ended			Year Ended
	December 31, 2014			December 31, 2013			January 31, 2013
	(in thousands)
Revenues	$	7,034		$	64,093		$	113,076
Expenses
Operating expenses	3,026			35,381			55,926
Depreciation and amortization	987			12,909			23,566
Impairment of real estate	—			76,713			4,254
	4,013			125,003			83,746
Interest income	—			274			390
Gain on disposition of rental properties	28,100			41,831			100,900
Net loss on change in control of interest	—			—			(1,585		)
Interest expense	(5,538		)	(12,015		)	(23,167		)
Amortization of mortgage procurement costs	(41		)	(476		)	(1,389		)
Loss on extinguishment of debt	(448		)	(40		)	(464		)
Earnings (loss) before income taxes	25,094			(31,336		)	104,015
Income tax expense (benefit)	12,082			(11,137		)	46,549
Earnings (loss) from discontinued operations	13,012			(20,199		)	57,466
Noncontrolling interests
Gain on disposition of rental properties	58			5,960			965
Operating earnings (loss) from rental properties	(8		)	82			132
	50			6,042			1,097
Earnings (loss) from discontinued operations attributable to Forest City Enterprises, Inc.	$	12,962		$	(26,241	)	$	56,369

Summary of Gains (Losses) on Disposition of Rental Properties

The following table summarizes the pre-tax gain (loss) on disposition of rental properties:

	Year Ended		11 Months Ended			Year Ended
	December 31, 2014		December 31, 2013			January 31, 2013
	(in thousands)
Specialty Retail Centers:
Quartermaster Plaza	$	26,373	$	—		$	—
Quebec Square	—		—			8,879
Regional Malls:
Promenade Bolingbrook	1,276		—			—
Orchard Town Center	—		(2,157		)	—
Office Buildings:
Mesa del Sol - 5600 University SE	451		—			—
Higbee Building	—		2,922			—
Colorado Studios	—		1,239			—
Fairmont Plaza	—		—			26,877
Apartment Communities:
Millender Center	—		21,660			—
Emerald Palms	—		—			45,845
Southfield	—		—			13,445
Sheraton Station Square (Hotel)	—		18,096			—
Triple net lease properties	—		(132		)	6,568
Other	—		203			(714		)
	$	28,100	$	41,831		$	100,900