dentified two reportable segments: (i) Property Operations and (ii) Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease Properties and the Home Sales and Rentals Operations segment purchases, sells and leases homes at the Properties. The distribution of the Properties throughout the United States reflects our belief that geographic diversification helps insulate the portfolio from regional economic influences. All revenues were from external customers and there is no customer who contributed 10% or more of our total revenues during the quarters and six months ended June 30, 2020 or 2019. The following tables summarize our segment financial information for the quarters and six months ended June 30, 2020 and 2019: Quarter Ended June 30, 2020 (amounts in thousands) Property Operations Home Sales and Rentals Operations Consolidated Operations revenues $ 238,155 $ 13,122 $ 251,277 Operations expenses (119,296) (11,176) (130,472) Income from segment operations 118,859 1,946 120,805 Interest income 1,061 726 1,787 Depreciation and amortization (35,611) (2,721) (38,332) Income (loss) from operations $ 84,309 $ (49) $ 84,260 Reconciliation to consolidated net income: Corporate interest income 4 Income from other investments, net 1,022 General and administrative (10,609) Other expenses (639) Interest and related amortization (26,249) Equity in income of unconsolidated joint ventures 1,064 Early debt retirement  Consolidated net income $ 48,853 Total assets $ 3,998,462 $ 269,712 $ 4,268,174 Capital improvements $ 37,552 $ 16,636 $ 54,188 Quarter Ended June 30, 2019 (amounts in thousands) Property Operations Home Sales and Rentals Operations Consolidated Operations revenues $ 233,848 $ 11,836 $ 245,684 Operations expenses (116,893) (10,558) (127,451) Income from segment operations 116,955 1,278 118,233 Interest income 950 846 1,796 Depreciation and amortization (35,197) (2,579) (37,776) Income (loss) from operations $ 82,708 $ (455) $ 82,253 Reconciliation to consolidated net income: Corporate interest income 7 Income from other investments, net 879 General and administrative (9,225) Other expenses (540) Interest and related amortization (26,024) Equity in income of unconsolidated joint ventures 3,226 Early debt retirement (1,491) Consolidated net income $ 49,085 Total assets $ 3,766,573 $ 247,905 $ 4,014,478 Capital improvements $ 28,501 $ 40,502 $ 69,003 Six Months Ended June 30, 2020 (amounts in thousands) Property Operations Home Sales and Rentals Operations Consolidated Operations revenues $ 500,629 $ 28,674 $ 529,303 Operations expenses (237,194) (25,643) (262,837) Income from segment operations 263,435 3,031 266,466 Interest income 2,136 1,454 3,590 Depreciation and amortization (71,831) (5,525) (77,356) Income (loss) from operations $ 193,740 $ (1,040) $ 192,700 Reconciliation to consolidated net income: Corporate interest income 8 Income from other investments, net 1,665 General and administrative (21,464) Other expenses (1,227) Interest and related amortization (52,322) Equity in income of unconsolidated joint ventures 1,271 Early debt retirement (1,054) Consolidated net income $ 119,577 Total assets $ 3,998,462 $ 269,712 $ 4,268,174 Capital improvements $ 70,157 $ 32,990 $ 103,147 Six Months Ended June 30, 2019 (amounts in thousands) Property Operations Home Sales and Rentals Operations Consolidated Operations revenues $ 479,864 $ 22,173 $ 502,037 Operations expenses (225,863) (19,477) (245,340) Income from segment operations 254,001 2,696 256,697 Interest income 1,844 1,696 3,540 Depreciation and amortization (70,740) (5,013) (75,753) Gain on sale of real estate, net 52,507  52,507 Income (loss) from operations $ 237,612 $ (621) $ 236,991 Reconciliation to consolidated net income: Corporate interest income 14 Income from other investments, net 1,865 General and administrative (19,134) Other expenses (967) Interest and related amortization (52,417) Equity in income of unconsolidated joint venture 4,759 Early debt retirement (1,491) Consolidated net income $ 169,620 Total assets $ 3,766,573 $ 247,905 $ 4,014,478 Capital Improvements $ 52,906 $ 68,538 $ 121,444 The following table summarizes our financial information for the Property Operations segment for the quarters and six months ended June 30, 2020 and 2019: Quarters Ended June 30, Six Months Ended June 30, (amounts in thousands) 2020 2019 2020 2019 Revenues: Rental income $ 213,885 $ 208,375 $ 449,249 $ 428,357 Annual membership subscriptions 12,961 12,586 26,034 24,902 Membership upgrade sales current period, gross 5,048 5,041 9,891 8,879 Membership upgrade sales upfront payments, deferred, net (2,666) (2,912) (5,208) (4,683) Other income 9,680 10,265 20,739 20,635 Ancillary services revenues, net (753) 493 (76) 1,774 Total property operations revenues 238,155 233,848 500,629 479,864 Expenses: Property operating and maintenance 84,020 83,576 166,311 160,320 Real estate taxes 16,668 15,107 33,509 30,430 Sales and marketing, gross 4,276 4,214 8,254 7,623 Membership sales commissions, deferred, net (481) (389) (697) (580) Property management 14,813 14,385 29,817 28,070 Total property operations expenses 119,296 116,893 237,194 225,863 Income from property operations segment $ 118,859 $ 116,955 $ 263,435 $ 254,001 The following table summarizes our financial information for the Home Sales and Rentals Operations segment for the quarters and six months ended June 30, 2020 and 2019: Quarters Ended June 30, Six Months Ended June 30, (amounts in thousands) 2020 2019 2020 2019 Revenues: Rental income (a) $ 4,078 $ 3,632 $ 8,060 $ 7,216 Gross revenue from home sales 8,866 7,825 20,175 14,300 Brokered resale revenues, net 178 379 439 657 Ancillary services revenues, net     Total revenues 13,122 11,836 28,674 22,173 Expenses: Rental home operating and maintenance 1,245 1,292 2,588 2,496 Cost of home sales 8,850 8,164 20,761 14,796 Home selling expenses 1,081 1,102 2,294 2,185 Total expenses 11,176 10,558 25,643 19,477 Income from home sales and rentals operations segment $ 1,946 $ 1,278 $ 3,031 $ 2,696 ______________________ (a) Rental income within Home Sales and Rentals Operations does not include base rent related to the rental home Sites. Base rent is included within property operations.