Accounting for the Impairment or Disposal of Long-Lived Assets (Tables)

12 Months Ended

Dec. 31, 2017

Accounting for the Impairment or Disposal of Long-Lived Assets [Abstract]

Disposal Group, Including Discontinued Operations

Information on the operating properties the Company sold during the years ended December 31, 2017, 2016 and 2015 is as follows:

2017 Sales

Reportable Segment	Number of Buildings	Acres of Developable Land (unaudited)	Leaseable Square Feet (unaudited)	Gross Proceeds (in thousands)
Chicago/Minneapolis	3	—	136,110	$	8,917
Florida	—	16	—	13,256
Houston	1	42	206,808	36,145
Lehigh/Central PA	2	44	1,683,876	249,045
Southeastern PA	4	3	313,410	56,156
Other	—	8	—	3,739
Total	10	113	2,340,204	$	367,258

2016 Sales

Reportable Segment	Number of Buildings	Acres of Developable Land (unaudited)	Leaseable Square Feet (unaudited)	Gross Proceeds (in thousands)
Chicago/Minneapolis	24	5	2,037,275	$	199,825
Florida	51	12	3,509,641	505,828
Lehigh/Central PA	1	—	120,777	11,200
Philadelphia	—	1	—	2,640
Southeastern PA	31	—	2,165,002	266,821
Other	18	18	1,631,295	224,241
Total	125	36	9,463,990	$	1,210,555

2015 Sales

Reportable Segment	Number of Buildings	Acres of Developable Land (unaudited)	Leaseable Square Feet (unaudited)	Gross Proceeds (in thousands)
Carolinas/Richmond	22	3	1,319,299	$	110,054
Chicago/Minneapolis	2	—	222,642	25,700
Florida	4	—	874,125	55,425
Southeastern PA	46	20	2,724,489	316,583
Other	7	—	569,618	37,371
Total	81	23	5,710,173	$	545,133

A summary of the results of operations for the properties classified as discontinued operations through the respective disposition dates is as follows (in thousands):

	For the Year Ended
	December 31, 2017			December 31, 2016			December 31, 2015
Revenues	$	34,035		$	36,010		$	34,813
Operating expenses	(14,014		)	(12,989		)	(12,309		)
Depreciation and amortization	(6,753		)	(8,385		)	(8,711		)
Impairment charges - real estate assets	(6,686		)	—			(1,029		)
Interest and other income	58			133			23
Interest expense	(2,239		)	(2,778		)	(2,222		)
Net income before gain on property dispositions	4,401			11,991			10,565
Gain on property dispositions	14,578			—			—
Net income	18,979			11,991			10,565
Noncontrolling interest - operating partnership	(444		)	(282		)	(246		)
Income available to common shareholders	$	18,535		$	11,709		$	10,319

The following table illustrates aggregate balance sheet information for all held-for-sale properties (in thousands):

	December 31, 2017									December 31, 2016
	Included in Continuing Operations			Included in Discontinued Operations			Total			Included in Continuing Operations		Included in Discontinued Operations			Total
Land and land improvements	$	3,476		$	25,848		$	29,324		$	—	$	34,406		$	34,406
Buildings and improvements	80,738			163,195			243,933			—		217,833			217,833
Land held for development	863			—			863			4,548		—			4,548
Accumulated depreciation	(11,785		)	(98,346		)	(110,131		)	—		(106,933		)	(106,933		)
Deferred financing and leasing costs, net	2,210			3,502			5,712			—		6,355			6,355
Other assets	5,137			7,390			12,527			—		8,679			8,679
Total assets held for sale	$	80,639		$	101,589		$	182,228		$	4,548	$	160,340		$	164,888
Total liabilities held for sale	$	1,153		$	3,398		$	4,551		$	—	$	8,079		$	8,079

The following table illustrates the number of sold or held-for-sale properties included in, or excluded from, discontinued operations in this report:

	Held for Sale as of December 31, 2017	Sold during the year ended December 31, 2017	Total
Properties included in discontinued operations	25	2	27
Properties included in continuing operations	2	8	10
Properties sold or classified as held for sale	27	10	37

Significant Sale

A summary of net income (excluding gain on sale) related to this portfolio is as follows (in thousands):

	Year Ended December 31,
	2016			2015
Net income	$	48,609		$	58,792
Noncontrolling interest - operating partnership	(1,142		)	(1,370		)
Income available to common shareholders	$	47,467		$	57,422

Asset Impairment Charges

The impairment losses are for operating properties or land parcels and were in the reportable segments and for the amounts as indicated below (in thousands):

	Year Ended December 31,
Reportable Segment	2017		2016		2015
Carolinas/Richmond	$	—	$	—	$	13,755
Houston	10,632		—		—
Chicago/Minneapolis	—		3,879		—
Southeastern PA	—		—		2,328
Other	—		—		2,161
Total	$	10,632	$	3,879	$	18,244