NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2009 Acquisitions 2011 Dispositions 2010 Dispositions 2009 Dispositions 2009 Impairment (Dollars in thousands, except share and per share amounts and where indicated as in millions or billions) We had no consolidated property acquisitions during the year ended December 31, 2009. During 2011, we agreed to dispose of consolidated properties that had an aggregate carrying value of $355.4 million and debt  obligations of $177.0 million for aggregate sales proceeds of $136.0 million resulting in a net loss of $42.4 million. The gains and  losses on these disposals are included in gain (loss) upon acquisition of controlling interests, and sale or disposal of assets and  interests in unconsolidated entities, net in the consolidated statements of operations and comprehensive income. In 2009, we recorded non-cash impairment charges of $240.1 million ($228.6 million, net of a tax benefit of $5.8 million  and noncontrolling interest holders’ share of $5.7 million). As discussed in Note 3, this non-cash charge includes a $140.5  million other-than-temporary impairment of our investment in an available-for-sale security. In addition, the total charge includes  adjustments in the carrying value of one wholly-owned and one joint venture regional mall, a write-down of five land parcels and  two joint venture non-retail real estate assets, and certain predevelopment costs related to projects no longer being pursued. During the year ended December 31, 2009, we sold four retail properties with an aggregate carrying value of $13.7 million for  which we received proceeds of $3.9 million. The net loss on these disposals totaled $9.8 million and is included in gain (loss) upon  acquisition of controlling interests, and sale or disposal of assets and interests in unconsolidated entities, net in the consolidated  statements of operations and comprehensive income. During the year ended December 31, 2010, we disposed of three retail properties with an aggregate carrying value of $91.4  million and debt obligations of $91.3 million for which we received aggregate sale proceeds of $5.8 million. The net gain on these  disposals was $5.7 million and is included in gain (loss) upon acquisition of controlling interests, and sale or disposal of assets  and interests in unconsolidated entities, net in the consolidated statements of operations and comprehensive income. 48 Simon Property Group, Inc.