XML 69 R47.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Reconciliation of Operating Profit from Segments to Net Loss
The table below compares segment profit for each of our operating segments and reconciles total segment profit to Net Loss for the year ended December 31, 2017 (in thousands):
 
2017
 
Owned Real Estate
 
Investment Management
 
Total
Total revenues
$
303,410

 
$
8,133

 
$
311,543

Property operating expenses
(50,328
)
 
(3,496
)
 
(53,824
)
Real estate tax expenses
(43,247
)
 
(209
)
 
(43,456
)
General and administrative expenses
(3,403
)
 
(2,875
)
 
(6,278
)
Segment profit
$
206,432

 
$
1,553

 
207,985

Corporate general and administrative expenses
 
 
 
 
(30,070
)
Vesting of Class B units for asset management services
 
 
 
 
(24,037
)
Termination of affiliate arrangements
 
 
 
 
(5,454
)
Depreciation and amortization
 
 
 
 
(130,671
)
Interest expense, net
 
 
 
 
(45,661
)
Acquisition expenses
 
 
 
 
(530
)
Transaction expenses
 
 
 
 
(15,713
)
Other income, net
 
 
 
 
2,433

Net loss
 
 
 
 
$
(41,718
)
Reconciliation of Assets from Segments to Total Assets
The table below summarizes the total assets and capital expenditures for each of our operating segments as of December 31, 2017 (in thousands):
 
2017
Assets:
 
Owned Real Estate
$
3,388,080

Investment Management
90,236

Total segment assets
3,478,316

Reconciling items:
 
Cash and cash equivalents
5,716

Restricted cash
21,729

Corporate headquarters and other assets
20,321

Total assets
$
3,526,082

 
 
Capital Expenditures:
 
Owned Real Estate
$
41,009

Investment Management
1,137

Total capital expenditures
$
42,146