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Segment Information (Tables)
3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Company's Reportable Segments

The tables below present information about the Company’s reportable operating segments (in thousands):

 

 

Three Months Ended March 31, 2016

 

 

Shopping

Centers

 

 

Loan

Investments

 

 

Other

 

 

Total

 

Total revenues

$

254,417

 

 

$

6

 

 

 

 

 

 

$

254,423

 

Rental operation expenses

 

(73,003

)

 

 

(39

)

 

 

 

 

 

 

(73,042

)

Net operating income (loss)

 

181,414

 

 

 

(33

)

 

 

 

 

 

 

181,381

 

Depreciation and amortization

 

(96,902

)

 

 

 

 

 

 

 

 

 

 

(96,902

)

Interest income

 

 

 

 

 

9,050

 

 

 

 

 

 

 

9,050

 

Other income (expense), net

 

 

 

 

 

 

 

 

$

1,773

 

 

 

1,773

 

Unallocated expenses(A)

 

 

 

 

 

 

 

 

 

(76,231

)

 

 

(76,231

)

Equity in net income of joint ventures

 

14,421

 

 

 

 

 

 

 

 

 

 

 

14,421

 

Income from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

$

33,492

 

As of March 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total gross real estate assets

$

9,973,081

 

 

 

 

 

 

 

 

 

 

$

9,973,081

 

Notes receivable, net(B)

 

 

 

 

$

440,526

 

 

$

(397,934

)

 

$

42,592

 

 

 

Three Months Ended March 31, 2015

 

 

Shopping

Centers

 

 

Loan

Investments

 

 

Other

 

 

Total

 

Total revenues

$

258,770

 

 

$

55

 

 

 

 

 

 

$

258,825

 

Rental operation expenses

 

(76,336

)

 

 

(19

)

 

 

 

 

 

 

(76,355

)

Net operating income

 

182,434

 

 

 

36

 

 

 

 

 

 

 

182,470

 

Impairment charges

 

(279,021

)

 

 

 

 

 

 

 

 

 

 

(279,021

)

Depreciation and amortization

 

(103,015

)

 

 

 

 

 

 

 

 

 

 

(103,015

)

Interest income

 

 

 

 

 

7,161

 

 

 

 

 

 

 

7,161

 

Other income (expense), net

 

 

 

 

 

 

 

 

$

(3,428

)

 

 

(3,428

)

Unallocated expenses(A)

 

 

 

 

 

 

 

 

 

(86,515

)

 

 

(86,515

)

Equity in net income of joint ventures

 

61

 

 

 

 

 

 

 

 

 

 

 

61

 

Gain on change in control of interests, net

 

14,279

 

 

 

 

 

 

 

 

 

 

 

14,279

 

Loss from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

$

(268,008

)

As of March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total gross real estate assets

$

10,047,415

 

 

 

 

 

 

 

 

 

 

$

10,047,415

 

Notes receivable, net(B)

 

 

 

 

$

354,205

 

 

$

(307,021

)

 

$

47,184

 

(A)

Unallocated expenses consist of General and Administrative expenses, Interest Expense and Tax Expense as listed in the Company’s consolidated statements of operations.  

(B)

Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.