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Discontinued Operations
 3 Months Ended
Mar. 31, 2014
Discontinued Operations  
Discontinued Operations

8.                  Discontinued Operations

 

The Company reports the results of operations of its properties either sold or held for sale prior to 2014 as discontinued operations in its consolidated statements of income, which includes rental income, rental operating expenses, real estate taxes and insurance, depreciation and amortization.

 

The Company sold an office property located in Richardson, Texas on October 29, 2013 at a $2.2 million gain.  Operating results of that property for the three months ended March 31, 2013 are in the table below.  The property was classified as discontinued for all periods presented.

 

The operating results for discontinued operations are summarized below.

 

 

 

For the Three
Months Ended
March 31,

 

(in thousands)

 

2013

 

Rental revenue

 

$

305

 

Rental operating expenses

 

—

 

Real estate taxes and insurance

 

(2

)

Depreciation and amortization

 

(205

)

Income from discontinued operations

 

$

98