Segment Information (Tables)

3 Months Ended

Mar. 31, 2016

The operating information by reportable segment is as follows (in thousands):



		For the Three Months
		Ended March 31,
		2016			2015
Operating revenue
	Carolinas/Richmond	$	15,760		$	20,334
	Chicago/Milwaukee	10,193			9,793
	Florida	29,318			30,932
	Houston	14,766			12,324
	Lehigh/Central PA	34,243			33,554
	Minnesota	11,346			12,672
	Philadelphia	10,355			9,982
	Southeastern PA	25,883			39,238
	United Kingdom	3,552			3,725
	Other	34,998			34,398
Segment-level operating revenue		190,414			206,952

Reconciliation to total operating revenues
	Other	(274		)	(51		)
Total operating revenue		$	190,140		$	206,901

Net operating income
	Carolinas/Richmond	$	10,840		$	12,846
	Chicago/Milwaukee	6,793			6,743
	Florida	18,047			19,102
	Houston	8,833			7,221
	Lehigh/Central PA	24,202			22,971
	Minnesota	4,578			5,985
	Philadelphia	7,097			7,022
	Southeastern PA	13,751			20,988
	United Kingdom	2,405			2,516
	Other	22,825			22,176
Segment-level net operating income		119,371			127,570

Reconciliation to net income
	Interest expense	(31,412		)	(34,670		)
	Depreciation/amortization expense ⁽¹⁾	(39,798		)	(43,514		)
	Impairment - real estate assets	—			(15,739		)
	Gain on property dispositions	20,521			2,271
	Equity in earnings of unconsolidated joint ventures	4,914			6,906
	General and administrative expense ⁽¹⁾	(14,539		)	(12,574		)
	Income taxes ⁽¹⁾	(570		)	(707		)
	Other	576			2,319
Net income		$	59,063		$	31,862


(1)	Excludes costs which are included in determining segment-level net operating income.

The Company's sales by reportable segment for the three months ended March 31, 2016 are as follows:


(1)	Includes gross proceeds from the sale of 3.5 acres of land.

The Company's total assets by reportable segment as of March 31, 2016 and December 31, 2015 is as follows (in thousands):