RPT » Topics » Reclassifications

These excerpts taken from the RPT 10-K filed Mar 11, 2009.
Reclassifications
 
Certain reclassifications of prior period amounts have been made in the financial statements in order to conform to the 2008 presentation.
 
Reclassifications


 



Certain reclassifications of prior period amounts have been made
in the financial statements in order to conform to the 2008
presentation.


 




This excerpt taken from the RPT 10-Q filed Nov 6, 2007.
Reclassifications
 
Certain reclassifications of 2006 amounts have been made to conform to the 2007 presentation.
 
2.   Sale of Real Estate Assets
 
On January 23, 2006, the Company sold seven of its shopping centers held for sale for $47,000 in aggregate, resulting in a gain of approximately $954, net of the minority interest in the Operating Partnership. The shopping centers, which were sold as a portfolio to an unrelated third party, include: Cox Creek Plaza in Florence, Alabama; Crestview Corners in Crestview, Florida; Cumberland Gallery in New Tazewell, Tennessee; Holly Springs Plaza in Franklin, North Carolina; Indian Hills in Calhoun, Georgia; Edgewood Square in North Augusta, South Carolina; and Tellico Plaza in Lenoir City, Tennessee. The proceeds from the sale were used to pay down the Company’s unsecured revolving credit facility. The operations of these seven shopping centers have been reflected as discontinued operations in the Company’s consolidated statements of income and comprehensive income for the nine months ended September 30, 2006 in accordance with Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets.” Total revenue for the seven properties was $550 for the nine months ended September 30, 2006.
 
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