Annual report pursuant to Section 13 and 15(d)

Real Estate and Other, Net

v2.4.0.6
Real Estate and Other, Net
12 Months Ended
Jan. 28, 2012
Real Estate and Other, Net [Abstract]  
Real Estate and Other, Net

18) Real Estate and Other, Net

 

 

 

 

 

($ in millions)

2011

 

2010

 

2009

 

Real estate activities

$            (38)

$            (34)

$            (34)

Impairments (Note 9)

                58

                  3

                42

Net gains from sale of real estate

                (6)

                (8)

                (2)

Other

                  7

                11

                (1)

 

 

 

 

Total expense/(income)

$             21

$            (28)

$                5

 

 

 

 

Real estate and other, net consists mainly of ongoing operating income from our real estate subsidiaries whose primary investments are in REITs, as well as investments in 13 joint ventures that own regional mall properties, five as general partner and eight as limited partner. Real estate and other also includes net gains from the sale of facilities and equipment that are no longer used in Company operations, asset impairments and other non-operating corporate charges and credits. In 2011, 2010 and 2009, we received dividend income from our REITs totaling $10 million, $8 million and $8 million, respectively. In 2011, 2010 and 2009, we recorded investment income for our proportional share of earnings from our joint ventures totaling $13 million, $15 million and $15 million, respectively.