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Note 3 - Real Estate | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Real Estate Disclosure [Text Block] | 3. Real Estate: The Company’s components of Real estate, net consist of the following (in thousands):
|  | December 31, |
|  | 2021 |  |  | 2020 |
Land: |  |  |  |  |  |  |  |
Developed land |  | $ | 3,962,447 |  |  | $ | 2,758,936 |
Undeveloped land |  |  | 16,328 |  |  |  | 22,952 |
Total land |  |  | 3,978,775 |  |  |  | 2,781,888 |
Buildings and improvements: |  |  |  |  |  |  |  |
Buildings |  |  | 10,042,225 |  |  |  | 5,911,602 |
Building improvements |  |  | 1,999,319 |  |  |  | 1,918,641 |
Tenant improvements |  |  | 987,216 |  |  |  | 820,027 |
Fixtures and leasehold improvements |  |  | 31,421 |  |  |  | 32,123 |
Above-market leases |  |  | 166,840 |  |  |  | 125,858 |
In-place leases |  |  | 840,803 |  |  |  | 473,016 |
Total buildings and improvements |  |  | 14,067,824 |  |  |  | 9,281,267 |
Real estate |  |  | 18,046,599 |  |  |  | 12,063,155 |
Accumulated depreciation and amortization (1) |  |  | (3,010,699 | ) |  |  | (2,717,114 | )
Total real estate, net |  | $ | 15,035,900 |  |  | $ | 9,346,041 |
| (1) | At December 31, 2021 and 2020, the Company had accumulated amortization relating to in-place leases and above-market leases aggregating $569,648 and $499,022, respectively.
In addition, at December 31, 2021 and 2020, the Company had intangible liabilities relating to below-market leases from property acquisitions of $336.6 million and $231.3 million, respectively, net of accumulated amortization of $227.5 million and $219.6 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, 2021, 2020 and 2019 resulted in net increases to revenue of $14.8 million, $22.5 million and $20.0 million, respectively. The Company’s amortization expense associated with in-place leases, which is included in depreciation and amortization, for the years ended December 31, 2021, 2020 and 2019 was $80.1 million, $26.3 million and $33.1 million, respectively. The estimated net amortization income/(expense) associated with the Company’s above-market and below-market leases and in-place leases for the next five years are as follows (in millions):
|  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |
Above-market and below-market leases amortization, net |  | $ | 14.5 |  |  | $ | 14.5 |  |  | $ | 14.3 |  |  | $ | 13.9 |  |  | $ | 14.1 |
In-place leases amortization |  | $ | (138.6 | ) |  | $ | (95.4 | ) |  | $ | (66.3 | ) |  | $ | (44.9 | ) |  | $ | (31.0 | )
Real Estate Under Development As of December 31, 2021 and 2020, the Company has a land parcel located in Dania Beach, FL which is held for future development included in Real estate under development on the Company’s Consolidated Balance Sheets.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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