Real Estate and Other, Net
 3 Months Ended
May 04, 2013
Real Estate and Other, Net [Abstract]  
Real Estate and Other, Net

9.  Real Estate and Other, Net

 

Real estate and other consists of ongoing operating income from our real estate subsidiaries whose investments are in REITs, as well as investments in 9 joint ventures that own regional mall properties.  Real estate and other also includes net gains from the sale of facilities and equipment that are no longer used in operations, asset impairments and other non-operating charges and credits.  The composition of real estate and other, net was as follows:    

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

($ in millions)

 

May 4,

 

 

April 28,

 

 

2013

 

 

2012

Dividend income from REITs

$

 -

 

$
(3)

Investment income from joint ventures

 
(2)

 

 
(3)

Gain on sale of operating asset

 
(16)

 

 

 -

Other

 
(4)

 

 
(1)

Real estate and other (income)/expense, net

$
(22)

 

$
(7)

 

During the first quarter of 2013, we sold our leasehold interest of a former department store location with a net book value of $2 million for net proceeds of $18 million, realizing a gain of $16 million.