J C PENNEY CO INC | 2013 | FY | 3


The composition of Real estate and other, net was as follows:    
($ in millions)
 
2013
 
2012
 
2011
Gain on sale or redemption of non-operating assets, net:
 
 

 
 

 
 

Sale or Redemption of Simon Property Group, L.P. (SPG) REIT units
 
$
(24
)
 
$
(200
)
 
$

Sale of CBL & Associates Properties, Inc. (CBL) REIT shares
 

 
(15
)
 

Sale of leveraged lease assets
 

 
(28
)
 

Sale of investments in joint ventures
 
(85
)
 
(151
)
 

Sale of non-operating assets
 
(23
)
 
(3
)
 

Net gain on sale or redemption of non-operating assets
 
(132
)
 
(397
)
 

Dividend income from REITs
 
(1
)
 
(6
)
 
(10
)
Investment income from joint ventures
 
(6
)
 
(11
)
 
(13
)
Net gain from sale of operating assets
 
(17
)
 

 
(6
)
Store impairments
 
18

 
26

 
58

Intangible asset impairment
 
9

 

 

Operating asset impairments
 

 
60

 

Other
 
(26
)
 
4

 
(8
)
Real estate and other (income)/expense, net
 
$
(155
)
 
$
(324
)
 
$
21


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