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Discontinued Operations
 6 Months Ended
Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
DISCONTINUED OPERATIONS
Effective January 1, 2014, UDR prospectively adopted ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, for all communities not previously sold or classified as held for sale. The standard had a material impact on the Company’s consolidated financial statements. As a result of adopting the ASU, during the three and six months ended June 30, 2014, gains (net of tax) of $26.7 million and $49.9 million, respectively, from disposition of real estate, excluding a $1.1 million gain related to the sale of land, are included in Gain/(loss) on sale of real estate owned, net of tax on the Consolidated Statements of Operations rather than in Income/(loss) from discontinued operations, net of tax on the Consolidated Statements of Operations.
As of June 30, 2014, the Company held one operating property that was classified as held for disposition prior to the adoption of ASU 2014-08 and, therefore, met the requirements to be reported as a discontinued operation. The operating results of the property for the three and six months ended June 30, 2014 are included in Income/(loss) from discontinued operations, net of tax on the Consolidated Statements of Operations. The property was subsequently sold during the third quarter of 2014.
The following is a summary of income/(loss) from discontinued operations, net of tax for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2015
 
2014
 
2015
 
2014
Rental income
$
—

 
$
78

 
$
—

 
$
126

Rental expenses
—

 
89

 
—

 
214

Property management
—

 
2

 
—

 
3

Interest income and other (income)/expense, net
—

 
9

 
—

 
18

Income tax benefit/(expense)
—

 
40

 
—

 
40

Income/(loss) from discontinued operations, net of tax
$
—

 
$
18

 
$
—

 
$
(69
)
 
 
 
 
 
 
 
 
Income/(loss) from discontinued operations attributable to UDR, Inc.
$
—

 
$
17

 
$
—

 
$
(67
)