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Discontinued Operations and Assets Held for Sale | 9 Months Ended
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Sep. 30, 2012
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations and Assets Held for Sale | Discontinued Operations and Assets Held for Sale Income from discontinued operations primarily includes revenues and expenses associated with the following:
• | 1344 and 1348 Ashton Road and 1350 Dorsey Road in the Baltimore/Washington Corridor that were sold on May 24, 2011;
• | 216 Schilling Circle in Greater Baltimore that was sold on August 23, 2011;
• | four properties comprising the Towson Portfolio in Greater Baltimore that were sold on September 29, 2011;
• | 11011 McCormick Road in Greater Baltimore that was sold on November 1, 2011;
• | 10001 Franklin Square Drive in Greater Baltimore that was sold on December 13, 2011;
• | 13 properties comprising the Rutherford Business Center portfolio in Greater Baltimore that were sold on December 15, 2011;
• | five properties in White Marsh, Maryland (in the Greater Baltimore region) that were sold on January 30, 2012;
• | 1101 Sentry Gateway in San Antonio that was sold on January 31, 2012;
• | 222 and 224 Schilling Circle in Greater Baltimore that were sold on February 10, 2012;
• | 15 and 45 West Gude Drive in Suburban Maryland that were sold on May 2, 2012;
• | 11800 Tech Road in Suburban Maryland that was sold on June 14, 2012;
• | 400 Professional Drive in Suburban Maryland for which the title to the property was transferred to the mortgage lender on July 2, 2012 (see Note 4);
• | 23 operating properties in the Baltimore/Washington Corridor and Greater Baltimore regions that were sold on July 24, 2012; and
• | 16 operating properties in Colorado Springs and an operating property in Suburban Maryland classified as held for sale at September 30, 2012.
The table below sets forth the components of discontinued operations reported on our consolidated statements of operations (in thousands):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2012 |  | 2011 |  | 2012 |  | 2011
Revenue from real estate operations | $ | 6,403 |  |  | $ | 17,151 |  |  | $ | 33,849 |  |  | $ | 51,363 |
Property operating expenses | (2,217 | ) |  | (6,325 | ) |  | (12,223 | ) |  | (19,684 | )
Depreciation and amortization | (1,926 | ) |  | (4,763 | ) |  | (8,457 | ) |  | (16,896 | )
Impairment losses | (9,733 | ) |  | — |  |  | (23,510 | ) |  | (29,364 | )
Business development and land carry costs | — |  |  | (17 | ) |  | (24 | ) |  | (56 | )
Interest expense | (127 | ) |  | (1,453 | ) |  | (2,107 | ) |  | (4,526 | )
Gain on sales of real estate | 16,913 |  |  | 1,299 |  |  | 20,948 |  |  | 1,438 |
Gain (loss) on early extinguishment of debt | 1,738 |  |  | (384 | ) |  | 1,736 |  |  | (384 | )
Discontinued operations | $ | 11,051 |  |  | $ | 5,508 |  |  | $ | 10,212 |  |  | $ | (18,109 | )
The table below sets forth the components of assets held for sale on our consolidated balance sheets (in thousands):
| September 30, 2012 |  | December 31, 2011
Properties, net | $ | 126,789 |  |  | $ | 108,356 |
Deferred rent receivable | 3,733 |  |  | 2,800 |
Intangible assets on real estate acquisitions, net | 4,417 |  |  | 1,737 |
Deferred leasing and financing costs, net | 2,781 |  |  | 3,723 |
Lease incentives | 95 |  |  | — |
Assets held for sale | $ | 137,815 |  |  | $ | 116,616 |

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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 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 2: 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 3: 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 4: 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 5: 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=6390789&loc=d3e2443-110228 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43-48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: 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 8: 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 9: 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 10: 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 + Details
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