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Business Segments
3 Months Ended
Mar. 31, 2023
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 2023 presentation.
Financial Information By Segment
(In thousands) Shopping
Centers
Mixed-Use
Properties
Corporate
and Other
Consolidated
Totals
Three Months Ended March 31, 2023
Real estate rental operations:
Revenue$44,225 $18,824 $— $63,049 
Expenses(9,260)(7,020)— (16,280)
Income from real estate34,965 11,804 — 46,769 
Interest expense, net and amortization of deferred debt costs— — (11,821)(11,821)
Depreciation and amortization of deferred leasing costs(7,128)(4,889)— (12,017)
General and administrative— — (5,268)(5,268)
Net income (loss)$27,837 $6,915 $(17,089)$17,663 
Capital investment$1,667 $41,489 $— $43,156 
Total assets$716,710 $1,133,155 $18,140 $1,868,005 
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 estate34,007 11,181 — 45,188 
Interest expense, net and amortization of deferred debt costs— — (10,602)(10,602)
Depreciation and amortization of deferred leasing 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$1,500 $15,329 $— $16,829 
Total assets$940,049 $794,682 $20,821 $1,755,552