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Discontinued Operations
 9 Months Ended
Sep. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
For the nine months ended September 30, 2013, we sold 18 centers of which eight were located in Texas, three in North Carolina, two each in Florida and New Mexico and one each in California, Nevada and Tennessee. As of September 30, 2013, there were no properties classified as held for sale as the potential disposition of assets currently being marketed was not deemed probable.
During 2012, we sold 27 shopping centers, 54 industrial properties, and we assigned a 75% consolidated joint venture interest to our partner. Of these dispositions, 55 were located in Texas, six each in Florida and Georgia, three in North Carolina, two each in Colorado, Louisiana and Virginia and one each in Arizona, Illinois, Kansas, Maine, Oklahoma and Tennessee. As part of these 2012 dispositions, we sold, in May 2012, a portfolio of 52 wholly-owned industrial properties in order to exit the industrial real estate market and further align and strengthen our position solely as a retail REIT. As of December 31, 2012, no properties were classified as held for sale.
Included in the Condensed Consolidated Balance Sheet at December 31, 2012 was $207.5 million of property and $72.0 million of accumulated depreciation related to the 18 centers that were sold during 2013.
The operating results of these centers have been reclassified and reported as discontinued operations in the Condensed Consolidated Statements of Operations and Comprehensive Income as follows (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
Revenues, net
$
2,043

 
$
12,141

 
$
15,795

 
$
58,299

Depreciation and amortization
(487
)
 
(2,350
)
 
(3,869
)
 
(12,455
)
Operating expenses
(427
)
 
(2,175
)
 
(2,973
)
 
(10,932
)
Real estate taxes, net
(152
)
 
(1,413
)
 
(1,414
)
 
(7,545
)
Impairment loss
—

 
(139
)
 
(236
)
 
(5,825
)
General and administrative
(1
)
 
(220
)
 
(13
)
 
(2,181
)
Interest, net
(434
)
 
(759
)
 
(1,373
)
 
(2,512
)
Provision for income taxes
(148
)
 
(11
)
 
(261
)
 
(386
)
Operating income from discontinued operations
394

 
5,074

 
5,656

 
16,463

Gain on sale of property from discontinued operations
38,214

 
14,826

 
116,226

 
49,724

Income from discontinued operations
$
38,608

 
$
19,900

 
$
121,882

 
$
66,187


We do not allocate other consolidated interest to discontinued operations because the interest savings to be realized from the proceeds of the sale of these operations is not material.