XML 101 R34.htm IDEA: XBRL DOCUMENT v2.4.0.6
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2012
Discontinued Operations and Disposal Groups [Abstract]  
Assets and liabilities of discontinued operation
The tables below reflect the assets and liabilities of the properties classified as held for sale and discontinued operations as of December 31, 2012 and the results of operations of the properties included in discontinued operations on the Company’s Consolidated Statements of Operations for the years ended December 31, 2012, 2011 and 2010.
 
December 31,
(Dollars in thousands)
2012
 
2011
Balance Sheet data (as of the period ended):
 
 
 
Land
$
3,835

 
$
8,078

Buildings, improvements and lease intangibles
5,566

 
44,299

Personal property
212

 
458

 
9,613

 
52,835

Accumulated depreciation
(6,303
)
 
(24,557
)
Assets held for sale, net
3,310

 
28,278

Other assets, net (including receivables)
27

 
372

Assets of discontinued operations, net
27

 
372

Assets held for sale and discontinued operations, net
$
3,337

 
$
28,650

Accounts payable and accrued liabilities
$
99

 
$
404

Other liabilities
32

 
114

Liabilities of discontinued operations
$
131

 
$
518
Income statement of discontinued operation
 
Year Ended December 31,
(Dollars in thousands, except per share data)
2012
 
2011
 
2010
Statements of Operations data (for the period ended):
 
 
 
 
 
Revenues (1)
 
 
 
 
 
Rental income
$
5,679

 
$
10,656

 
$
14,835

Other operating
13

 
34

 
62

 
5,692

 
10,690

 
14,897

Expenses (2)
 
 
 
 
 
Property operating
2,500

 
4,503

 
5,487

General and administrative
6

 
8

 
19

Other operating
—

 
—

 
(135
)
Depreciation
1,541

 
3,762

 
4,634

Amortization
54

 
28

 
28

Bad debt, net of recoveries
(3
)
 
90

 
18

 
4,098

 
8,391

 
10,051

Other Income (Expense) (3)
 
 
 
 
 
Interest and other income, net
163

 
105

 
241

 
163

 
105

 
241

Income from Discontinued Operations
1,757

 
2,404

 
5,087

Impairments (4)
(14,908
)
 
(6,697
)
 
(6,252
)
Gain on sales of real estate properties (5)
10,874

 
7,035

 
8,352

Income (Loss) from Discontinued Operations
$
(2,277
)
 
$
2,742

 
$
7,187

Income (Loss) from Discontinued Operations per Common Share - Basic
$
(0.03
)
 
$
0.04

 
$
0.11

Income (Loss) from Discontinued Operations per Common Share - Diluted
$
(0.03
)
 
$
0.04

 
$
0.11

 
(1)
Total revenues for the years ended December 31, 2012, 2011 and 2010 included $5.4 million, $10.2 million and $13.8 million, respectively, related to properties sold; and $0.3 million, $0.5 million and $1.1 million, respectively, related to one property held for sale as of December 31, 2012.
(2)
Total expenses for the years ended December 31, 2012, 2011 and 2010 included $3.4 million, $7.5 million and $3.4 million, respectively, related to properties sold; and $0.7 million, $0.9 million and $6.7 million, respectively, related to one property held for sale as of December 31, 2012.
(3)
Other income (expense) for the years ended December 31, 2012, 2011, and 2010 included income related to properties sold.
(4)
Impairments for the year ended December 31, 2012 included $11.1 million related to 12 properties sold and $3.8 million related to one property held for sale; December 31, 2011 included $1.7 million related to two properties sold and $5.0 million related to five properties held for sale; and December 31, 2010 included $1.0 million related to one property sold and $5.3 million related to four properties held for sale.
(5)
Gain on sales of real estate properties for the years ended December 31, 2012, 2011 and 2010 included gains on the sale of seven, three and nine properties, respectively.