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Segment Information | 12 Months Ended
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Dec. 31, 2012
Segment Reporting Information, Revenue for Reportable Segment [Abstract] |
Segment Information | SEGMENT INFORMATION We have four reportable segments: office, medical office, retail, and multifamily. Office buildings provide office space for various types of businesses and professions. Medical office buildings provide offices and facilities for a variety of medical services. Retail centers are typically neighborhood grocery store or drug store anchored retail centers. Multifamily properties provide rental housing for families throughout the Washington metropolitan area. Real estate rental revenue as a percentage of the total for each of the four reportable operating segments for the three years ended December 31, 2012 was as follows:
| Year Ended December 31,
| 2012 |  | 2011 |  | 2010
Office | 50 | % |  | 49 | % |  | 47 | %
Medical office | 15 | % |  | 15 | % |  | 18 | %
Retail | 18 | % |  | 18 | % |  | 16 | %
Multifamily | 17 | % |  | 18 | % |  | 19 | %
The percentage of total income producing real estate assets, at cost, for each of the four reportable operating segments as of December 31, 2012 and 2011 was as follows:
| December 31,
| 2012 |  | 2011
Office | 53 | % |  | 52 | %
Medical office | 16 | % |  | 17 | %
Retail | 17 | % |  | 17 | %
Multifamily | 14 | % |  | 14 | %
The accounting policies of each of the segments are the same as those described in note 2. The following tables present revenues, net operating income, capital expenditures and total assets for the three years ended December 31, 2012 from these segments, and reconciles net operating income of reportable segments to net income attributable to the controlling interests as reported (in thousands):
| Year Ended December 31, 2012
| Office |  | Medical Office |  | Retail |  | Multifamily |  | Corporate and Other |  | Consolidated
Real estate rental revenue | $ | 152,916 |  |  | $ | 44,674 |  |  | $ | 54,506 |  |  | $ | 52,887 |  |  | $ | — |  |  | $ | 304,983 |
Real estate expenses | 55,113 |  |  | 14,994 |  |  | 12,702 |  |  | 20,467 |  |  | — |  |  | 103,276 |
Net operating income | $ | 97,803 |  |  | $ | 29,680 |  |  | $ | 41,804 |  |  | $ | 32,420 |  |  | $ | — |  |  | $ | 201,707 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  | (103,067 | )
General and administrative |  |  |  |  |  |  |  |  |  |  | (15,488 | )
Real estate impairment |  |  |  |  |  |  |  |  |  |  | (2,097 | )
Acquisition costs |  |  |  |  |  |  |  |  |  |  | (234 | )
Interest expense |  |  |  |  |  |  |  |  |  |  | (64,697 | )
Other income |  |  |  |  |  |  |  |  |  |  | 975 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |
Income from properties sold or held for sale |  |  |  |  |  |  |  |  |  |  | 1,485 |
Gain on sale of real estate |  |  |  |  |  |  |  |  |  |  | 5,124 |
Net income |  |  |  |  |  |  |  |  |  |  | 23,708 |
Less: Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  | — |
Net income attributable to the controlling interests |  |  |  |  |  |  |  |  |  |  | $ | 23,708 |
Capital expenditures | $ | 35,330 |  |  | $ | 7,004 |  |  | $ | 2,977 |  |  | $ | 5,869 |  |  | $ | 555 |  |  | $ | 51,735 |
Total assets | $ | 1,140,046 |  |  | $ | 327,573 |  |  | $ | 355,585 |  |  | $ | 249,503 |  |  | $ | 51,669 |  |  | $ | 2,124,376 |
| Year Ended December 31, 2011
| Office |  | Medical Office |  | Retail |  | Multifamily |  | Industrial/Flex |  | Corporate and Other |  | Consolidated
Real estate rental revenue | $ | 138,325 |  |  | $ | 44,431 |  |  | $ | 50,421 |  |  | $ | 50,979 |  |  | $ | — |  |  | $ | — |  |  | $ | 284,156 |
Real estate expenses | 47,289 |  |  | 14,063 |  |  | 14,273 |  |  | 19,717 |  |  | — |  |  | — |  |  | 95,342 |
Net operating income | $ | 91,036 |  |  | $ | 30,368 |  |  | $ | 36,148 |  |  | $ | 31,262 |  |  | $ | — |  |  | $ | — |  |  | $ | 188,814 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  | (91,805 | )
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  | (15,728 | )
Real estate impairment |  |  |  |  |  |  |  |  |  |  |  |  | (14,526 | )
Acquisition costs |  |  |  |  |  |  |  |  |  |  |  |  | (3,607 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (66,214 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  | 1,144 |
Loss on extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  | (976 | )
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |
Income from properties sold or held for sale |  |  |  |  |  |  |  |  |  |  |  |  | 11,923 |
Gain on sale of real estate |  |  |  |  |  |  |  |  |  |  |  |  | 97,491 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  | (1,138 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  | 105,378 |
Less: Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (494 | )
Net income attributable to the controlling interests |  |  |  |  |  |  |  |  |  |  |  |  | $ | 104,884 |
Capital expenditures | $ | 21,065 |  |  | $ | 5,654 |  |  | $ | 2,922 |  |  | $ | 2,823 |  |  | $ | 351 |  |  | $ | 621 |  |  | $ | 33,436 |
Total assets | $ | 1,118,074 |  |  | $ | 347,735 |  |  | $ | 365,164 |  |  | $ | 247,170 |  |  | $ | — |  |  | $ | 42,615 |  |  | $ | 2,120,758 |
| Year Ended December 31, 2010
| Office |  | Medical Office |  | Retail |  | Multifamily |  | Industrial/Flex |  | Corporate and Other |  | Consolidated
Real estate rental revenue | $ | 119,359 |  |  | $ | 44,166 |  |  | $ | 41,003 |  |  | $ | 48,599 |  |  | $ | — |  |  | $ | — |  |  | $ | 253,127 |
Real estate expenses | 40,676 |  |  | 14,516 |  |  | 10,310 |  |  | 19,243 |  |  | — |  |  | — |  |  | 84,745 |
Net operating income | $ | 78,683 |  |  | $ | 29,650 |  |  | $ | 30,693 |  |  | $ | 29,356 |  |  | $ | — |  |  | $ | — |  |  | $ | 168,382 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  | (78,483 | )
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  | (14,406 | )
Acquisition costs |  |  |  |  |  |  |  |  |  |  |  |  | (1,161 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (66,965 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  | 1,193 |
Loss on extinguishment of debt |  |  |  |  |  |  |  |  |  |  |  |  | (9,176 | )
Gain from non-disposal activities |  |  |  |  |  |  |  |  |  |  |  |  | 7 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |
Income from properties sold or held for sale |  |  |  |  |  |  |  |  |  |  |  |  | 16,569 |
Gain on sale of real estate |  |  |  |  |  |  |  |  |  |  |  |  | 21,599 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  | 37,559 |
Less: Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | (133 | )
Net income attributable to the controlling interests |  |  |  |  |  |  |  |  |  |  |  |  | $ | 37,426 |
Capital expenditures | $ | 13,983 |  |  | $ | 4,986 |  |  | $ | 1,982 |  |  | $ | 2,387 |  |  | $ | 1,707 |  |  | $ | 392 |  |  | $ | 25,437 |
Total assets | $ | 938,638 |  |  | $ | 353,508 |  |  | $ | 313,003 |  |  | $ | 228,769 |  |  | $ | 225,206 |  |  | $ | 108,757 |  |  | $ | 2,167,881 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -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 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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