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Note 2 - Real Estate | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Real Estate Disclosure [Text Block] |
2. | Real Estate :
The Company ’s components of Rental property consist of the following (in thousands):
|  | December 31, |
|  | 201 7 |  |  | 201 6 |
Land |  | $ | 2,971,020 |  |  | $ | 2,786,255 |
Undeveloped land |  |  | 48,264 |  |  |  | 58,931 |
Buildings and improvements: |  |  |  |  |  |  |  |
Buildings |  |  | 6,047,413 |  |  |  | 5,790,681 |
Building improvements |  |  | 1,653,581 |  |  |  | 1,562,439 |
Tenant improvements |  |  | 753,501 |  |  |  | 733,993 |
Fixtures and leasehold improvements |  |  | 45,795 |  |  |  | 47,199 |
Above -market leases |  |  | 153,484 |  |  |  | 150,207 |
In- place leases and tenant relationships |  |  | 577,870 |  |  |  | 543,342 |
|  |  | 12,250,928 |  |  |  | 11,673,047 |
Accumulated depreciation and amortization (1) |  |  | (2,433,053 | ) |  |  | (2,278,292 | )
Total |  | $ | 9,817,875 |  |  | $ | 9,394,755 |
| ( 1 ) | At December 31, 2017 and 2016, the Company had accumulated amortization relating to in-place leases, tenant relationships and above-market leases aggregating $459,211 and $409,062, respectively.
In addition, at December 31, 2017 and 2016, the Company had intangible liabilities relating to below-market leases from property acquisitions of $329.3 million and $292.6 million, respectively, net of accumulated amortization of $184.5 million and $193.9 million, respectively. These amounts are included in the caption Other liabilities on the Company’s Consolidated Balance Sheets. The Company ’s amortization associated with above-market and below-market leases for the years ended December 31, 2017, 2016 and 2015, resulted in net increases to revenue of $15.5 million, $21.4 million and $18.5 million, respectively. The Company’s amortization expense associated with in-place leases and tenant relationships, which is included in depreciation and amortization, for the years ended December 31, 2017, 2016 and 2015 was $62.7 million, $66.6 million and $68.3 million, respectively. The estimated net amortization income/(expense) associated with the Company’s above-market and below-market leases, tenant relationships and in-place leases for the next five years are as follows (in millions):
|  | 2018 |  |  | 2019 |  |  | 2020 |  |  | 202 1 |  |  | 202 2 |
Above -market and below-market leases amortization, net |  | $ | 13.2 |  |  | $ | 14.0 |  |  | $ | 14.1 |  |  | $ | 14.3 |  |  | $ | 13.4 |
In-place leases and t enant relationships amortization |  | $ | (43.7 | ) |  | $ | (34.6 | ) |  | $ | (26.5 | ) |  | $ | (20.7 | ) |  | $ | (15.9 | )

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 + Details
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