NON-OPERATING REAL PROPERTY

3 Months Ended

Mar. 31, 2013

NON-OPERATING REAL PROPERTY

NON-OPERATING REAL PROPERTY

NOTE 3—NON-OPERATING REAL PROPERTY

        We have designated certain assets, consisting principally of land and undeveloped properties, as non-operating real property and declared our intent to sell those assets. At December 31, 2012, we obtained independent appraisals for our non-operating properties and determined that no adjustments to the carrying values were necessary. No developments have occurred subsequent to these appraisals that would indicate that impairment recognition is necessary. Although we continue to actively market these properties for sale, we do not anticipate that we will be able to sell the majority of the assets within the next twelve months. As such, these properties are not classified as held-for-sale as of March 31, 2013. These properties are included in non-operating real properties in our consolidated balance sheets as of March 31, 2013 and December 31, 2012.