Business Segments

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company has two reportable business segments: Shopping Centers and Mixed-Use Properties. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates performance based upon income and cash flows from real estate of the combined properties in each segment. All of our properties within each segment generate similar types of revenues and expenses related to tenant rent, reimbursements and operating expenses. Although services are provided to a variety of tenants, the types of services provided to them are similar within each segment. The properties in each portfolio have similar economic characteristics and the nature of the products and services provided to our tenants and the method to distribute such services are consistent throughout the portfolio. Certain reclassifications have been made to prior year information to conform to the 2022 presentation.

Financial Information By Segment
(In thousands)	Shopping Centers		Mixed-Use Properties		Corporate and Other		Consolidated Totals
Three Months Ended March 31, 2022
Real estate rental operations:
Revenue	$	44,099	$	18,045	$	—	$	62,144
Expenses	(10,092)		(6,864)		—		(16,956)
Income from real estate	34,007		11,181		—		45,188
Interest expense, net and amortization of deferred debt costs	—		—		(10,602)		(10,602)
Depreciation and amortization of lease costs	(7,141)		(5,186)		—		(12,327)
General and administrative	—		—		(4,768)		(4,768)
Net income (loss)	$	26,866	$	5,995	$	(15,370)	$	17,491
Capital investment	$	1,532	$	15,336	$	—	$	16,868
Total assets	$	940,049	$	794,682	$	20,821	$	1,755,552
Three Months Ended March 31, 2021
Real estate rental operations:
Revenue	$	42,444	$	16,280	$	—	$	58,724
Expenses	(10,077)		(6,438)		—		(16,515)
Income from real estate	32,367		9,842		—		42,209
Interest expense, net and amortization of deferred debt costs	—		—		(11,988)		(11,988)
Depreciation and amortization of lease costs	(7,241)		(5,507)		—		(12,748)
General and administrative	—		—		(4,678)		(4,678)
Net income (loss)	$	25,126	$	4,335	$	(16,666)	$	12,795
Capital investment	$	4,149	$	14,769	$	—	$	18,918
Total assets	$	967,458	$	751,445	$	15,353	$	1,734,256