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Business Segments | 6 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Business Segments | Business Segments The Company has two reportable business segments: Shopping Centers and Mixed-Use Properties. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates performance based upon income and cash flows from real estate of the combined properties in each segment. All of our properties within each segment generate similar types of revenues and expenses related to tenant rent, reimbursements and operating expenses. Although services are provided to a range of tenants, the types of services provided to them are similar within each segment. The properties in each portfolio have similar economic characteristics and the nature of the products and services provided to our tenants and the method to distribute such services are consistent throughout the portfolio. Certain reclassifications have been made to prior year information to conform to the 2018 presentation.
(In thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Three months ended June 30, 2018 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 40,848 |  |  | $ | 15,376 |  |  | $ | — |  |  | $ | 56,224 |
Expenses | (8,574 | ) |  | (5,079 | ) |  | — |  |  | (13,653 | )
Income from real estate | 32,274 |  |  | 10,297 |  |  | — |  |  | 42,571 |
Other revenue | — |  |  | — |  |  | 69 |  |  | 69 |
Interest expense and amortization of deferred debt costs | — |  |  | — |  |  | (11,237 | ) |  | (11,237 | )
General and administrative | — |  |  | — |  |  | (4,647 | ) |  | (4,647 | )
Depreciation and amortization of deferred leasing costs | (7,333 | ) |  | (4,018 | ) |  | — |  |  | (11,351 | )
Gain on sale of property | 509 |  |  | — |  |  | — |  |  | 509 |
Change in fair value of derivatives | — |  |  | — |  |  | (12 | ) |  | (12 | )
Net income (loss) | $ | 25,450 |  |  | $ | 6,279 |  |  | $ | (15,827 | ) |  | $ | 15,902 |
Capital investment | $ | 3,883 |  |  | $ | 16,387 |  |  | $ | — |  |  | $ | 20,270 |
Total assets | $ | 804,939 |  |  | $ | 464,534 |  |  | $ | 177,009 |  |  | $ | 1,446,482 |
Three months ended June 30, 2017 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 40,583 |  |  | $ | 15,314 |  |  | $ | — |  |  | $ | 55,897 |
Expenses | (8,378 | ) |  | (5,002 | ) |  | — |  |  | (13,380 | )
Income from real estate | 32,205 |  |  | 10,312 |  |  | — |  |  | 42,517 |
Other revenue | — |  |  | — |  |  | 10 |  |  | 10 |
Interest expense and amortization of deferred debt costs | — |  |  | — |  |  | (11,900 | ) |  | (11,900 | )
General and administrative | — |  |  | — |  |  | (4,514 | ) |  | (4,514 | )
Depreciation and amortization of deferred leasing costs | (7,798 | ) |  | (3,893 | ) |  | — |  |  | (11,691 | )
Change in fair value of derivatives | — |  |  | — |  |  | (1 | ) |  | (1 | )
Net income (loss) | $ | 24,407 |  |  | $ | 6,419 |  |  | $ | (16,405 | ) |  | $ | 14,421 |
Capital investment | $ | 1,942 |  |  | $ | 5,219 |  |  | $ | — |  |  | $ | 7,161 |
Total assets | $ | 983,476 |  |  | $ | 425,298 |  |  | $ | 12,104 |  |  | $ | 1,420,878 |
(Dollars in thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Six months ended June 30, 2018 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 81,821 |  |  | $ | 30,798 |  |  | $ | — |  |  | $ | 112,619 |
Expenses | (17,499 | ) |  | (10,408 | ) |  | — |  |  | (27,907 | )
Income from real estate | 64,322 |  |  | 20,390 |  |  | — |  |  | 84,712 |
Other revenue | — |  |  | — |  |  | 170 |  |  | 170 |
Interest expense and amortization of deferred debt costs | — |  |  | — |  |  | (22,764 | ) |  | (22,764 | )
General and administrative | — |  |  | — |  |  | (9,068 | ) |  | (9,068 | )
Depreciation and amortization of deferred leasing costs | (14,631 | ) |  | (8,069 | ) |  | — |  |  | (22,700 | )
Gain on sale of property | 509 |  |  | — |  |  | — |  |  | 509 |
Change in fair value of derivatives | — |  |  | — |  |  | (12 | ) |  | (12 | )
Net income (loss) | $ | 50,200 |  |  | $ | 12,321 |  |  | $ | (31,674 | ) |  | $ | 30,847 |
Capital investment | $ | 7,143 |  |  | $ | 29,850 |  |  | $ | — |  |  | $ | 36,993 |
Total assets | $ | 804,939 |  |  | $ | 464,534 |  |  | $ | 177,009 |  |  | $ | 1,446,482 |
Six months ended June 30, 2017 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 84,020 |  |  | $ | 30,330 |  |  | $ | — |  |  | $ | 114,350 |
Expenses | (17,077 | ) |  | (9,888 | ) |  | — |  |  | (26,965 | )
Income from real estate | 66,943 |  |  | 20,442 |  |  | — |  |  | 87,385 |
Other revenue | — |  |  | — |  |  | 23 |  |  | 23 |
Interest expense and amortization of deferred debt costs | — |  |  | — |  |  | (23,764 | ) |  | (23,764 | )
General and administrative | — |  |  | — |  |  | (8,815 | ) |  | (8,815 | )
Depreciation and amortization of deferred leasing costs | (15,192 | ) |  | (7,841 | ) |  | — |  |  | (23,033 | )
Change in fair value of derivatives | — |  |  | — |  |  | (1 | ) |  | (1 | )
Net income (loss) | $ | 51,751 |  |  | $ | 12,601 |  |  | $ | (32,557 | ) |  | $ | 31,795 |
Capital investment | $ | 84,285 |  |  | $ | 10,225 |  |  | $ | — |  |  | $ | 94,510 |
Total assets | $ | 983,476 |  |  | $ | 425,298 |  |  | $ | 12,104 |  |  | $ | 1,420,878 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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