Segment Information (Tables)

3 Months Ended

Mar. 31, 2014

The tables below present information about the Company’s reportable operating segments and reflect the impact of discontinued operations (Note 12) (in thousands):

	Three-Month Period Ended March 31, 2014
	Shopping Centers			Loan Investments			Brazil Equity Investment^(A)		Other			Total
Total revenues	$	254,209		$	37							$	254,246
Operating expenses^(B)		(84,734	)		(50	)							(84,784	)
Net operating income (loss)		169,475			(13	)							169,462
Depreciation and amortization		(108,762	)										(108,762	)
Interest income					3,127								3,127
Other income (expense), net									$	(4,613	)		(4,613	)
Unallocated expenses^(C)										(83,822	)		(83,822	)
Equity in net income of joint ventures		5,172					$	318					5,490
Impairment of joint venture investments		(9,100	)										(9,100	)
Loss from continuing operations												$	(28,218	)
As of March 31, 2014:
Total gross real estate assets	$	10,097,422										$	10,097,422
Notes receivable, net^(D)				$	144,901				$	(65,956	)	$	78,945

	Three-Month Period Ended March 31, 2013
	Shopping Centers			Loan Investments			Brazil Equity Investment^(A)		Other			Total
Total revenues	$	200,302		$	5							$	200,307
Operating expenses		(57,911	)		(150	)							(58,061	)
Net operating income (loss)		142,391			(145	)							142,246
Depreciation and amortization		(65,911	)										(65,911	)
Interest income					7,878								7,878
Other income (expense), net									$	(2,900	)		(2,900	)
Unallocated expenses^(C)										(72,565	)		(72,565	)
Equity in net (loss) income of joint ventures		(1,330	)				$	4,284					2,954
Income from continuing operations												$	11,702
As of March 31, 2013:
Total gross real estate assets	$	8,715,170										$	8,715,170
Notes receivable, net^(D⁾				$	236,630				$	(179,072	)	$	57,558

(A)

The carrying value of the Brazil Equity Investment is not a measure used by executive management for purposes of decision making related to asset allocation or performance assessment of this segment. This investment was sold in April 2014 and will no longer be reflected as a segment. See discussion regarding the investment in SSB in Notes 2 and 15.

(B)	Includes impairment charges of $10.8 million for the three-month period ended March 31, 2014.

(C)	Unallocated expenses consist of general and administrative expenses, interest expense and tax benefit/expense as listed in the condensed consolidated statements of operations.

(D)	Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the condensed consolidated balance sheets.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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