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SUMMARY OF QUARTERLY RESULTS (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Summary of Financial Information
The following presents a summary of the unaudited quarterly financial information for the years ended December 31, 2015 and 2014:
 
(in thousands of dollars, except per share amounts)
For the Year Ended December 31, 2015
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter(1)
 
Total
Revenue from continuing operations
$
100,058

 
$
101,693

 
$
107,036

 
$
116,624

 
$
425,411

Net loss(2)(3)
(13,939
)
 
(34,666
)
 
(36,241
)
 
(44,721
)
 
(129,567
)
Net loss attributable to PREIT(2)(3)
(13,509
)
 
(30,924
)
 
(32,340
)
 
(39,910
)
 
(116,683
)
Basic and diluted loss per share
(0.26
)
 
(0.51
)
 
(0.53
)
 
(0.64
)
 
(1.93
)
 
(in thousands of dollars, except per share amounts)
For the Year Ended December 31, 2014
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter(1)
 
Total
Revenue from continuing operations
$
109,386

 
$
106,825

 
$
105,137

 
$
111,355

 
$
432,703

Net (loss) income(2)(3)
(8,356
)
 
(24,050
)
 
(886
)
 
19,030

 
(14,262
)
Net (loss) income attributable to PREIT(3)
(8,104
)
 
(23,325
)
 
(859
)
 
18,458

 
(13,830
)
Basic and diluted (loss) earnings per share
(0.18
)
 
(0.40
)
 
(0.07
)
 
0.21

 
(0.44
)
 
(1) 
Fourth Quarter revenue includes a significant portion of annual percentage rent as most percentage rent minimum sales levels are met in the fourth quarter.
(2) 
Includes impairment losses of $6.2 million (1st Quarter 2015), $28.7 million (2nd Quarter 2015), $51.4 million (3rd Quarter 2015), $54.0 million (4th Quarter 2015), $1.3 million (1st Quarter 2014), $16.1 million (2nd Quarter 2014) and $2.3 million (3rd Quarter 2014).
(3) 
Includes gains on sales of interests in real estate of $12.4 million (3rd Quarter 2015), $13.1 million (4th Quarter 2014) and gains on sales of non operating real estate of $1.8 million (4th Quarter 2014).