Impairment and Disposal of Long-Lived Assets Impairment and Disposal of Long-Lived Assets (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of disposal groups

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

	Held for sale as of June 30, 2019	Sold during the six months ended June 30, 2019	Sold during the year ended December 31, 2018	Total
Properties included in discontinued operations	14	8	37	59
Properties included in continuing operations	3	—	2	5
Properties sold or classified as held for sale	17	8	39	64

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

	Three Months Ended						Six Months Ended
	June 30, 2019			June 30, 2018			June 30, 2019			June 30, 2018
Revenues	$	11,318		$	23,085		$	25,095		$	49,702
Operating expenses	(3,452		)	(5,253		)	(7,787		)	(11,952		)
Depreciation and amortization	(62		)	(3,073		)	(2,129		)	(8,472		)
Impairment charges - real estate assets	(4,018		)	—			(14,292		)	—
Interest and other income (expense)	(39		)	(29		)	(60		)	(58		)
Income taxes	(261		)	(30		)	(293		)	(55		)
Loss on debt extinguishment	(7,618		)	—			(7,618		)	—
Interest expense	(466		)	(1,748		)	(1,174		)	(3,717		)
Gain (loss) on property dispositions	52,837			(240		)	72,024			89,772
Income from discontinued operations	48,239			12,712			63,766			115,220
Noncontrolling interest - operating partnership	(1,114		)	(296		)	(1,479		)	(2,685		)
Noncontrolling interest - consolidated joint venture	(120		)	(110		)	(187		)	(187		)
Income from discontinued operations available to common shareholders	$	47,005		$	12,306		$	62,100		$	112,348

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

	June 30, 2019									December 31, 2018
	Included in Continuing Operations			Included in Discontinued Operations			Total			Included in Continuing Operations			Included in Discontinued Operations			Total
Land and land improvements	$	3,056		$	91,677		$	94,733		$	1,301		$	113,080		$	114,381
Buildings and improvements	25,119			253,295			278,414			5,638			384,737			390,375
Development in progress	—			10,269			10,269			—			9,597			9,597
Land held for development	21,120			—			21,120			26,253			—			26,253
Accumulated depreciation	(6,559		)	(36,946		)	(43,505		)	(1,546		)	(70,242		)	(71,788		)
Deferred financing and leasing costs, net	1,099			10,848			11,947			58			13,697			13,755
Other assets	1,153			12,595			13,748			164			19,470			19,634
Total assets held for sale	$	44,988		$	341,738		$	386,726		$	31,868		$	470,339		$	502,207
Total liabilities held for sale	$	2,941		$	16,092		$	19,033		$	141		$	20,990		$	21,131