Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Depreciation expense of real estate properties for the three years ended December 31, 2018, 2017 and 2016 was $143.8 million, $129.4 million and $116.5 million, respectively. Depreciation and amortization of real estate assets and liabilities in place as of December 31, 2018, is provided for on a straight-line basis over the asset’s estimated useful life:



Land improvements	5.0 to 39.0 years
Buildings and improvements	3.3 to 39.0 years
Lease intangibles (including ground lease intangibles)	2.1 to 99.0 years
Personal property	2.8 to 20.0 years

Disaggregation of revenue

Below is a detail of the amounts by category:



(in thousands)	Year Ended December 31,
Type of Revenue	2018		2017		2016
Parking income	$	6,930	$	6,611	$	6,121
Property lease guaranty income	675		726		3,058
Management fee income	273		308		402
Miscellaneous	114		114		169
	$	7,992	$	7,759	$	9,750

Schedule of rental income

The components of rental income are as follows:



	Year Ended December 31,
(Dollars in thousands)	2018		2017		2016
Property operating income	$	390,256	$	358,009	$	331,109
Single-tenant net lease	47,860		52,897		63,895
Straight-line rent	4,281		6,072		7,201
Rental income	$	442,397	$	416,978	$	402,205

Schedule of reclassified expenses

These amounts are considered immaterial and have been reclassified for the prior year presentations on the Company's Consolidated Statements of Income.



	Year Ended December 31,
	2017						2016
(in thousands)	As Previously Reported			As Reclassified			As Previously Reported			As Reclassified
EXPENSES
Property operating expense	$	157,233		$	157,252		$	146,458		$	146,529
Bad debt, net	169			159			(21		)	(21		)

OTHER INCOME (EXPENSE)
Gain on sales of properties	$	39,519		$	39,524		$	41,038		$	41,044
Impairments	(5,385		)	(5,385		)	—			(121		)

INCOME FROM CONTINUING OPERATIONS	$	23,096		$	23,092		$	85,756		$	85,571

DISCONTINUED OPERATIONS
Loss from discontinued operations	$	(9	)	$	—		$	(71	)	$	—
Impairments of real estate assets	—			—			(121		)	—
Gain on sales of properties	5			—			7			—
LOSS FROM DISCONTINUED OPERATIONS	$	(4	)	$	—		$	(185	)	$	—

Schedule of previously reported balances

The following table represents the impact of the adoption of this standard on the Company's Consolidated Statements of Income for the years ended December 31, 2017 and 2016:



	Year Ended December 31,
	2017				2016
(in thousands)	As Previously Reported		As Reclassified		As Previously Reported		As Reclassified
REVENUES
Rental income	$	422,852	$	416,978	$	407,481	$	402,205
Other operating	1,647		7,759		4,149		9,750
	$	424,499	$	424,737	$	411,630	$	411,955

OTHER INCOME (EXPENSE)
Interest and other income, net	$	896	$	658	$	375	$	51

NET INCOME	$	23,092	$	23,092	$	85,571	$	85,571