Discontinued Operations

9 Months Ended

Sep. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

Effective April 1, 2014, the Company adopted the new accounting guidance for reporting discontinued operations. As a result, fewer rental property disposals qualify to be reported as discontinued operations. There were no rental property dispositions during the three and nine months ended September 30, 2015 that met the requirements for discontinued operations reporting.

The following tables summarize the rental properties included in discontinued operations during the three and nine months ended September 30, 2014:

Property	Location	Square Feet	Period Disposed	Three Months Ended 9/30/14	Nine Months Ended 9/30/14
Commercial Group:
Promenade Bolingbrook	Bolingbrook, Illinois	771,000 square feet	Q2-2014	—	Yes
Quartermaster Plaza	Philadelphia, Pennsylvania	456,000 square feet	Q1-2014	—	Yes
Mesa del Sol - 5600 University SE	Albuquerque, New Mexico	87,000 square feet	Q1-2014	—	Yes

	Three Months Ended September 30,		Nine Months Ended September 30,
	2014		2014
	(in thousands)
Revenues	$	—	$	7,034
Expenses
Operating expenses	—		3,026
Depreciation and amortization	—		987
	—		4,013
Gain on disposition of rental properties	—		28,100
Interest expense	—		(5,538		)
Amortization of mortgage procurement costs	—		(41		)
Loss on extinguishment of debt	—		(448		)
Earnings before income taxes	—		25,094
Income tax expense	—		12,082
Earnings from discontinued operations	—		13,012
Noncontrolling interest
Gain on disposition of rental properties	—		58
Operating loss from rental properties	—		(8		)
	—		50
Earnings from discontinued operations attributable to Forest City Enterprises, Inc.	$	—	$	12,962

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

	Three Months Ended September 30,		Nine Months Ended September 30,
	2014		2014
	(in thousands)
Quartermaster Plaza (Specialty Retail Center)	$	—	$	26,373
Promenade Bolingbrook (Regional Mall)	—		1,276
Mesa del Sol - 5600 University SE (Office Building)	—		451
	$	—	$	28,100