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Segment Information | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Segment Information |
12. | Segment Information
The tables below present information about the Company’s reportable operating segments (in thousands):
| Three Months Ended September 30, 2020 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 95,874 |  |  | $ | — |  |  |  |  |  |  | $ | 95,874 |
Other income |  | 9,680 |  |  |  | — |  |  |  |  |  |  |  | 9,680 |
Total revenues |  | 105,554 |  |  |  | — |  |  |  |  |  |  |  | 105,554 |
Rental operation expenses |  | (32,317 | ) |  |  | — |  |  |  |  |  |  |  | (32,317 | )
Net operating income |  | 73,237 |  |  |  | — |  |  |  |  |  |  |  | 73,237 |
Depreciation and amortization |  | (41,148 | ) |  |  |  |  |  |  |  |  |  |  | (41,148 | )
Interest income |  |  |  |  |  | 3,445 |  |  |  |  |  |  |  | 3,445 |
Other expense, net |  |  |  |  |  |  |  |  | $ | (186 | ) |  |  | (186 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (31,753 | ) |  |  | (31,753 | )
Equity in net income of joint ventures |  | 250 |  |  |  |  |  |  |  |  |  |  |  | 250 |
Adjustment of preferred equity interests, net |  |  |  |  |  | 3,542 |  |  |  |  |  |  |  | 3,542 |
Gain on sale of joint venture interest |  | 82 |  |  |  |  |  |  |  |  |  |  |  | 82 |
Gain on disposition of real estate, net |  | 218 |  |  |  |  |  |  |  |  |  |  |  | 218 |
Income before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,687 |
| Three Months Ended September 30, 2019 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 108,060 |  |  | $ | — |  |  | $ | — |  |  | $ | 108,060 |
Other income |  | 13,567 |  |  |  | 13 |  |  |  | — |  |  |  | 13,580 |
Business interruption income |  | — |  |  |  | — |  |  |  | 885 |  |  |  | 885 |
Total revenues |  | 121,627 |  |  |  | 13 |  |  |  | 885 |  |  |  | 122,525 |
Rental operation expenses |  | (33,456 | ) |  |  | (3 | ) |  |  | — |  |  |  | (33,459 | )
Net operating income |  | 88,171 |  |  |  | 10 |  |  |  | 885 |  |  |  | 89,066 |
Impairment charges |  | (2,750 | ) |  |  |  |  |  |  |  |  |  |  | (2,750 | )
Depreciation and amortization |  | (40,732 | ) |  |  |  |  |  |  |  |  |  |  | (40,732 | )
Interest income |  |  |  |  |  | 4,616 |  |  |  |  |  |  |  | 4,616 |
Other expense, net |  |  |  |  |  |  |  |  |  | (322 | ) |  |  | (322 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (36,464 | ) |  |  | (36,464 | )
Equity in net income of joint ventures |  | 2,612 |  |  |  |  |  |  |  |  |  |  |  | 2,612 |
Reserve of preferred equity interests, net |  |  |  |  |  | (6,373 | ) |  |  |  |  |  |  | (6,373 | )
Gain on disposition of real estate, net |  | 14,497 |  |  |  |  |  |  |  |  |  |  |  | 14,497 |
Income before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | 24,150 |
| Nine Months Ended September 30, 2020 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 306,482 |  |  | $ | — |  |  |  |  |  |  | $ | 306,482 |
Other income |  | 35,940 |  |  |  | 13 |  |  |  |  |  |  |  | 35,953 |
Total revenues |  | 342,422 |  |  |  | 13 |  |  |  |  |  |  |  | 342,435 |
Rental operation expenses |  | (102,321 | ) |  |  | — |  |  |  |  |  |  |  | (102,321 | )
Net operating income |  | 240,101 |  |  |  | 13 |  |  |  |  |  |  |  | 240,114 |
Depreciation and amortization |  | (125,014 | ) |  |  |  |  |  |  |  |  |  |  | (125,014 | )
Interest income |  |  |  |  |  | 10,480 |  |  |  |  |  |  |  | 10,480 |
Other expense, net |  |  |  |  |  |  |  |  | $ | (18,207 | ) |  |  | (18,207 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (97,029 | ) |  |  | (97,029 | )
Equity in net income of joint ventures |  | 908 |  |  |  |  |  |  |  |  |  |  |  | 908 |
Reserve of preferred equity interests, net |  |  |  |  |  | (19,393 | ) |  |  |  |  |  |  | (19,393 | )
Gain on sale of joint venture interest |  | 45,635 |  |  |  |  |  |  |  |  |  |  |  | 45,635 |
Gain on disposition of real estate, net |  | 993 |  |  |  |  |  |  |  |  |  |  |  | 993 |
Income before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | 38,487 |
As of September 30, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total gross real estate assets | $ | 4,747,661 |  |  |  |  |  |  |  |  |  |  | $ | 4,747,661 |
Notes receivable, net(B) |  |  |  |  | $ | 94,228 |  |  | $ | (94,228 | ) |  | $ | — |
| Nine Months Ended September 30, 2019 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 332,555 |  |  | $ | — |  |  | $ | — |  |  | $ | 332,555 |
Other income |  | 48,722 |  |  |  | 42 |  |  |  | — |  |  |  | 48,764 |
Business interruption income |  | — |  |  |  | — |  |  |  | 885 |  |  |  | 885 |
Total revenues |  | 381,277 |  |  |  | 42 |  |  |  | 885 |  |  |  | 382,204 |
Rental operation expenses |  | (106,574 | ) |  |  | (10 | ) |  |  | — |  |  |  | (106,584 | )
Net operating income |  | 274,703 |  |  |  | 32 |  |  |  | 885 |  |  |  | 275,620 |
Impairment charges |  | (3,370 | ) |  |  |  |  |  |  |  |  |  |  | (3,370 | )
Depreciation and amortization |  | (123,400 | ) |  |  |  |  |  |  |  |  |  |  | (123,400 | )
Interest income |  |  |  |  |  | 13,658 |  |  |  |  |  |  |  | 13,658 |
Other expense, net |  |  |  |  |  |  |  |  |  | (254 | ) |  |  | (254 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (108,321 | ) |  |  | (108,321 | )
Equity in net income of joint ventures |  | 5,446 |  |  |  |  |  |  |  |  |  |  |  | 5,446 |
Reserve of preferred equity interests, net |  |  |  |  |  | (12,106 | ) |  |  |  |  |  |  | (12,106 | )
Gain on disposition of real estate, net |  | 31,087 |  |  |  |  |  |  |  |  |  |  |  | 31,087 |
Income before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | 78,360 |
As of September 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total gross real estate assets | $ | 4,609,930 |  |  |  |  |  |  |  |  |  |  | $ | 4,609,930 |
Notes receivable, net(B) |  |  |  |  | $ | 182,400 |  |  | $ | (162,730 | ) |  | $ | 19,670 |
(A) | Unallocated expenses consist of General and Administrative Expenses and Interest Expense as listed in the Company’s consolidated statements of operations.
(B) | Amount includes BRE DDR Joint Venture preferred investment interests (Note 3) classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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