Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Company's Reportable Segments

The tables below present information about the Company’s reportable operating segments and reflect the impact of discontinued operations (Note 13) (in thousands):

	Three-Month Period Ended June 30, 2014
	Shopping Centers			Loan Investments			Other			Total
Total revenues	$	253,569		$	91					$	253,660
Operating expenses(A)		(86,355	)		(1	)					(86,356	)
Net operating income		167,214			90						167,304
Depreciation and amortization		(99,826	)								(99,826	)
Interest income					3,158						3,158
Other income (expense), net							$	(4,510	)		(4,510	)
Gain on sale and change in control of interests, net		83,830									83,830
Unallocated expenses(B)								(82,307	)		(82,307	)
Equity in net income of joint ventures		964						167			1,131
Income from continuing operations										$	68,780

	Three-Month Period Ended June 30, 2013
	Shopping Centers			Loan Investments			Other			Total
Total revenues	$	207,691		$	9					$	207,700
Operating expenses(A)		(72,620	)		(151	)					(72,771	)
Net operating income (loss)		135,071			(142	)					134,929
Depreciation and amortization		(67,047	)								(67,047	)
Interest income					5,797						5,797
Other income (expense), net							$	1,895			1,895
Gain on sale and change in control of interests		1,066									1,066
Unallocated expenses(B)								(75,446	)		(75,446	)
Equity in net (loss) income of joint ventures		(5,687	)					4,496			(1,191	)
Income from continuing operations										$	3

	Six-Month Period Ended June 30, 2014
	Shopping Centers			Loan Investments			Other			Total
Total revenues	$	506,630		$	127					$	506,757
Operating expenses(A)		(170,189	)		(51	)					(170,240	)
Net operating income		336,441			76						336,517
Depreciation and amortization		(208,295	)								(208,295	)
Interest income					6,285						6,285
Other income (expense), net							$	(9,124	)		(9,124	)
Gain on sale and change in control of interests, net		83,830									83,830
Unallocated expenses(B)								(165,880	)		(165,880	)
Equity in net income of joint ventures		6,135						486			6,621
Impairment of joint venture investments		(9,100	)								(9,100	)
Income from continuing operations										$	40,854
As of June 30, 2014:
Total gross real estate assets	$	10,352,011								$	10,352,011
Notes receivable, net(C)				$	125,173		$	(66,310	)	$	58,863

	Six-Month Period Ended June 30, 2013
	Shopping Centers			Loan Investments			Other			Total
Total revenues	$	406,912		$	15					$	406,927
Operating expenses(A)		(130,194	)		(301	)					(130,495	)
Net operating income (loss)		276,718			(286	)					276,432
Depreciation and amortization		(132,671	)								(132,671	)
Interest income					13,674						13,674
Other income (expense), net							$	(1,005	)		(1,005	)
Gain on sale and change in control of interests		1,066									1,066
Unallocated expenses(B)								(147,775	)		(147,775	)
Equity in net (loss) income of joint ventures		(7,017	)					8,780			1,763
Income from continuing operations										$	11,484
As of June 30, 2013:
Total gross real estate assets	$	8,761,681								$	8,761,681
Notes receivable, net(C)				$	261,894		$	(190,818	)	$	71,076

(A) Includes impairment charges of $14.3 and $13.6 million for the three-month periods ended June 30, 2014 and 2013, respectively, and $24.6 million and $13.6 million for the six-month periods ended June 30, 2014 and 2013, respectively.

(B) Unallocated expenses consist of general and administrative expenses, interest expense and tax benefit/expense as listed in the condensed consolidated statements of operations.

(C) Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the condensed consolidated balance sheet.