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Discontinued Operations | 9 Months Ended
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Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations |
11. | Discontinued Operations
The Company has presented separately as discontinued operations in all periods the results of operations for all consolidated assets disposed of and all properties held for sale, if any, for properties sold in 2013 and prior years. The amounts included in discontinued operations for the nine months and quarter ended September 30, 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the nine months and quarter ended September 30, 2014 met the new criteria for reporting discontinued operations. See Note 2 for further discussion. The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during the nine months and quarters ended September 30, 2014 and 2013 (amounts in thousands).
|  | Nine Months Ended September 30, |  | Quarter Ended September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
REVENUES |  |  |  |  |  |  |  |
Rental income |  | $ | 1,218 |  |  | $ | 119,191 |  |  | $ | (57 | ) |  | $ | 11,235 |
Total revenues |  | 1,218 |  |  | 119,191 |  |  | (57 | ) |  | 11,235 |
EXPENSES (1) |  |  |  |  |  |  |  |
Property and maintenance |  | (125 | ) |  | 35,571 |  |  | (84 | ) |  | 4,122 |
Real estate taxes and insurance |  | 146 |  |  | 11,602 |  |  | 152 |  |  | 735 |
Property management |  | — |  |  | 1 |  |  | — |  |  | — |
Depreciation |  | — |  |  | 33,864 |  |  | — |  |  | 2,902 |
General and administrative |  | 59 |  |  | 77 |  |  | 8 |  |  | 4 |
Total expenses |  | 80 |  |  | 81,115 |  |  | 76 |  |  | 7,763 |
Discontinued operating income (loss) |  | 1,138 |  |  | 38,076 |  |  | (133 | ) |  | 3,472 |
Interest and other income |  | 152 |  |  | 156 |  |  | 72 |  |  | 66 |
Other expenses |  | — |  |  | (3 | ) |  | — |  |  | — |
Interest (2): |  |  |  |  |  |  |  |
Expense incurred, net |  | — |  |  | (1,276 | ) |  | — |  |  | (18 | )
Amortization of deferred financing costs |  | — |  |  | (228 | ) |  | — |  |  | — |
Income and other tax (expense) benefit |  | (13 | ) |  | (504 | ) |  | — |  |  | (41 | )
Discontinued operations |  | 1,277 |  |  | 36,221 |  |  | (61 | ) |  | 3,479 |
Net gain on sales of discontinued operations |  | 223 |  |  | 1,990,577 |  |  | (1 | ) |  | 401,703 |
Discontinued operations, net |  | $ | 1,500 |  |  | $ | 2,026,798 |  |  | $ | (62 | ) |  | $ | 405,182 |
(1) | Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.
(2) | Includes only interest expense specific to secured mortgage notes payable for properties sold.

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, 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 segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
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