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

3 Months Ended

Apr. 30, 2012

Discontinued Operations and Gain on Disposition of Rental Properties [Abstract]

Summary of rental properties included in discontinued operations

The following table lists rental properties included in discontinued operations:

Property	Location		Square Feet/ Number of  Rooms	Period Disposed	Three Months Ended
					4/30/2012	4/30/2011
Commercial Group:
Quebec Square		Denver, Colorado	739,000 square feet	Q1-2012	Yes	Yes
Ritz-Carlton hotel		Cleveland, Ohio	206 rooms	Q4-2011	—	Yes
250 Huron		Cleveland, Ohio	119,000 square feet	Q4-2011	—	Yes
Waterfront Station – East 4 th & West 4 th Buildings		Washington, D.C.	631,000 square feet	Q2-2011	—	Yes
Charleston Marriott hotel		Charleston, West Virginia	352 rooms	Q1-2011	—	Yes

Summary of operating results of discontinued operations

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

	Three Months Ended April 30,
	2012			2011
	(in thousands)
Revenues from real estate operations	$	324		$	13,994
Expenses
Operating expenses		154			8,246
Depreciation and amortization		—			2,538
		154			10,784
Interest expense		(108	)		(1,859	)
Amortization of mortgage procurement costs		—			(567	)
Gain on disposition of rental properties		8,879			10,431
Earnings before income taxes		8,941			11,215
Income tax expense
Current		511			578
Deferred		3,019			3,921
		3,530			4,499
Earnings from discontinued operations		5,411			6,716
Noncontrolling interest
Gain on disposition of rental properties		965			393
Operating earnings from rental properties		8			1,335
		973			1,728
Earnings from discontinued operations attributable to Forest City Enterprises, Inc.	$	4,438		$	4,988

Gain (Loss) on Disposition of Rental Properties

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

	Three Months Ended April 30,
	2012		2011
	(in thousands)
Quebec Square (Specialty Retail Center)	$	8,879	$	—
Charleston Marriott (Hotel)		—		10,431
Total	$	8,879	$	10,431