Property Dispositions (Tables)

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

The following table provides a summary of shopping centers and land out-parcels disposed of (dollars in thousands):



		Three months ended September 30,			Nine months ended September 30,
		2014	2013		2014	2013
Net proceeds from sale of real estate investments	$	55,569	48,999	$	62,788	131,363
Gain on sale of real estate, net of tax	$	27,558	16,108	$	29,598	29,235
Number of operating properties sold		4	4		6	8
Number of land out-parcels sold		2	—		5	—
Percent interest sold		100%	100%		100%	100%

As a result of adopting ASU No. 2014-08, there were no discontinued operations for the three and nine months ended September 30, 2014 as none of the current year sales represented a strategic shift that would qualify as discontinued operations. The following table provides a summary of revenues and expenses from properties included in discontinued operations during 2013 (in thousands):



		Three months ended September 30,			Nine months ended September 30,
			2013			2013
Revenues	$		3,120	$		13,970
Operating expenses			1,580			7,107
Operating income from discontinued operations	$		1,540	$		6,863

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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