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Revenues
12 Months Ended
Dec. 31, 2012
Revenues [Abstract]  
Revenues

Note 15. Revenues

 

            Rents  for 2012, 2011 and 2010, respectively, are comprised of the following:

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

2012

 

2011

 

2010

Base rents

 

$         100,836,000 

 

$           97,015,000 

 

$           93,074,000 

Percentage rent

 

1,074,000 

 

1,058,000 

 

906,000 

Straight-line rents

 

986,000 

 

1,199,000 

 

1,550,000 

Amortization of intangible lease liabilities

 

5,364,000 

 

5,736,000 

 

6,094,000 

Total rents

 

$         108,260,000 

 

$         105,008,000 

 

$         101,624,000 

 

 

 

 

 

 

 

 

            Other revenues include lease termination income (approximately $3.0 million) in 2012 and fees earned from the Cedar/RioCan joint venture. The management agreement relating to the Cedar/RioCan joint venture properties terminated on January 31, 2013 (see Note 5 –“Investment in Cedar/RioCan Joint Venture”).

 

Annual future base rents due to be received under non-cancelable operating leases in effect at December 31, 2012 are approximately as follows (excluding those base rents applicable to properties treated as discontinued operations):

 

 

 

 

 

2013 

 

$           103,253,000

2014 

 

94,053,000 
2015 

 

82,900,000 
2016 

 

71,206,000 
2017 

 

59,621,000 

Thereafter

 

304,714,000 

 

 

$           715,747,000

 

 

 

 

Total future minimum rents do not include expense recoveries for real estate taxes and operating costs, or percentage rents based upon tenants’ sales volume. Such additional revenue amounts aggregated approximately $27.4 million, $27.9 million and $26.5 million for 2012, 2011 and 2010, respectively. Such amounts do not include amortization of intangible lease liabilities.