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Held for Sale and Discontinued Operations
 12 Months Ended
Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Held for Sale and Discontinued Operations
Held for Sale and Discontinued Operations
Assets and liabilities of properties sold or classified as held for sale are separately identified on the Company’s Consolidated Balance Sheets in the current period. As of December 31, 2016 and 2015, the Company had two and one properties, respectively, classified as held for sale.

As of December 31, 2016, the Company had one property remaining in assets held for sale that was classified as discontinued operations prior to the adoption of Accounting Standards Update No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”. This property will be included in discontinued operations on the Company's Consolidated Statements of Income until such time that the Company sells the asset. None of the Company's 2015 or 2016 dispositions or assets classified as held for sale represented a strategic shift that had or will have a major effect on the Company's operations and financial results. Therefore, the 2015 and 2016 dispositions were not classified as discontinued operations.

The table below reflects the assets and liabilities of the properties classified as held for sale and discontinued operations as of December 31, 2016 and 2015.
 
December 31,
(Dollars in thousands)
2016

 
2015

Balance Sheet data
 
 
 
Land
$
1,362

 
$
422

Buildings, improvements and lease intangibles
4,410

 
1,350

 
5,772

 
1,772

Accumulated depreciation
(2,977
)
 
(1,070
)
Assets held for sale, net
2,795

 
702

Other assets, net (including receivables)
297

 
22

Assets of discontinued operations, net
297

 
22

Assets held for sale and discontinued operations, net
$
3,092

 
$
724

Accounts payable and accrued liabilities
$
22

 
$
28

Other liabilities
592

 
5

Liabilities of assets held for sale and discontinued operations
$
614

 
$
33


The table below reflects the results of operations of the properties included in discontinued operations on the Company’s Consolidated Statements of Income for the years ended December 31, 2016, 2015 and 2014.
 
Year Ended December 31,
(Dollars in thousands, except per share data)
2016

 
2015

 
2014

Statements of Income data:
 
 
 
 
 
Revenues (1)
 
 
 
 
 
Rental income
$
—

 
$
752

 
$
5,660

Other operating
—

 
—

 
4

 
—

 
752

 
5,664

Expenses (2)
 
 
 
 
 
Property operating
71

 
58

 
3,126

General and administrative
—

 
—

 
19

Depreciation
—

 
—

 
1,551

Bad debt, net of recoveries
—

 
(1
)
 
3

 
71

 
57

 
4,699

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

 
20

 
2

 
—

 
20

 
2

Income (Loss) from Discontinued Operations
(71
)
 
715

 
967

Impairments (4)
(121
)
 
(686
)
 
(12,029
)
Gain on sales of real estate properties (5)
7

 
10,571

 
9,283

Income (Loss) from Discontinued Operations
$
(185
)
 
$
10,600

 
$
(1,779
)
Income (Loss) from Discontinued Operations per Common Share - Basic
$
0.00

 
$
0.11

 
$
(0.02
)
Income (Loss) from Discontinued Operations per Common Share - Diluted
$
0.00

 
$
0.11

 
$
(0.02
)
______
(1)
Total revenues for the years ended December 31, 2015 and 2014 included $0.8 million and $5.7 million, respectively, related to properties sold.
(2)
Total expenses for the year ended December 31, 2016 included $0.1 million related to a property that is held for sale. Total expenses for the year ended December 31, 2015, and 2014 included $0.1 million and $4.7 million related to properties sold.
(3)
Other income (expense) for the years ended December 31, 2015, and 2014 included income (expense) related to properties sold.
(4)
Impairments for the years ended December 31, 2016 and 2015 included $0.1 million and $0.7 million, respectively, related to one property held for sale. Impairments for the year ended December 31, 2014 included $3.7 million related to the sale of three properties and $8.3 million on four properties, classified as held for sale and subsequently sold in 2015.
(5)
Gain on sales of real estate properties for the year ended December 31, 2016 included a gain on the sale of one property sold in 2015. Gains on the sales of real estate properties for the years ended December 31, 2015 and 2014 included gains on the sale of one and three properties, respectively.