Year Ended December 31, 2011 vs. Year Ended December 31, 2010 Minimum rents increased $235.2 million during 2011, of which the property transactions accounted for $170.2 million of the  increase. Comparable rents increased $65.0 million, or 2.8%. The increase in comparable rents was primarily attributable to a  $64.7 million increase in base minimum rents. Overage rents increased $30.2 million, or 27.3%, as a result of an increase related  to the property transactions of $14.1 million and an increase in tenant sales during 2011. Tenant reimbursements increased $93.5 million, due to a $63.9 million increase attributable to the property transactions and  a $29.6 million, or 2.9%, increase in the comparable properties primarily due to increases to the fixed reimbursement related to  common area maintenance. Total other income decreased $16.9 million, principally as a result of the following: Depreciation and amortization expense increased $83.1 million primarily due to additional depreciable assets acquired in the  King of Prussia and Prime acquisitions. Real estate tax expense increased $23.8 million of which the property transactions accounted for $18.1 million with the  remaining increase primarily caused by higher tax payments in 2011. Repairs and maintenance expense increased $11.1 million of which the property transactions accounted for $6.9 million.  Repairs and maintenance expense at the comparable properties increased $4.2 million primarily due to increased general repairs  at the properties. During 2011, we recorded a provision for credit losses of $6.5 million whereas in the prior year the provision was $3.1 million.  Our bad debt provision in both 2011 and 2010 has been lower than our historical experience. Home and regional office expense increased $19.3 million primarily due to increased long-term incentive compensation and  marginally higher personnel costs in 2011. General and administrative expense increased $25.1 million primarily as a result of increased performance compensation costs. Other expenses increased $29.0 million of which the property transactions accounted for $10.2 million and the comparable  properties and corporate costs accounted for $18.3 million primarily related to an increase in legal and professional fees and  unfavorable changes in foreign currency exchange rates. Interest expense decreased $43.6 million primarily related to the repayment of five unsecured notes in 2011, repayment of  mortgages at six properties and purchases of senior unsecured notes in the January 2010 and August 2010 tender offers, offset  by increased borrowings under our credit facility, new or refinanced debt at several properties including debt associated with the  Prime acquisition and new unsecured debt and the issuance of two series of unsecured notes in 2011. During 2011, we disposed of our interest in an unconsolidated regional mall, one regional mall, three other retail properties,  and Prime Outlets—Jeffersonville, and acquired a controlling interest in a regional mall previously accounted for under the equity  method. In addition, on December 31, 2011, a joint venture in which we had a 50% interest was dissolved and, as a result,  distributed a portfolio of properties to us and our joint venture partner. We now consolidate the six properties we received in the  distribution and recorded a non-cash gain representing the fair value of the net assets received in excess of the carrying value of  our interest in the joint venture portfolio. These transactions resulted in an aggregate net gain in 2011 of $216.6 million. During  2010, we recorded a gain of $321.0 million primarily due to our share of the gain on the sale of our interest in Simon Ivanhoe, the  gain on the acquisition of a controlling interest in a regional mall previously accounted for under the equity method and the gain  on the sale of Porta di Roma by GCI. Net income attributable to noncontrolling interests increased $84.6 million primarily due to an increase in the income of the  Operating Partnership. 2011 Annual Report 17 ● a decrease in lease settlement income of $38.1 million due to a higher number of terminated leases in 2010, ● offset by an increase in interest income of $8.7 million primarily related to loans held for investment, ● a $2.0 million increase in land sale activity, and ● a $10.5 million increase in net other activity.