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Accumulated Other Comprehensive (Loss)/Income ("AOCI") | 9 Months Ended
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Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive (Loss)/Income ("AOCI") | 20. Accumulated Other Comprehensive (Loss)/Income (“AOCI”) The following tables present the change in the components of AOCI for the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, 2024 |  |  | Nine Months Ended September 30, 2024 |
|  | Cash Flow Hedges for Interest Payments |  |  | Cash Flow Hedges for Interest Payments of Unconsolidated Investee |  |  | Total |  |  | Cash Flow Hedges for Interest Payments |  |  | Cash Flow Hedges for Interest Payments of Unconsolidated Investee |  |  | Total |
Balance at beginning of period |  | $ | 7,820 |  |  | $ | 3,416 |  |  | $ | 11,236 |  |  | $ | - |  |  | $ | 3,329 |  |  | $ | 3,329 |
Other comprehensive (loss)/income before reclassifications |  |  | (18,978 | ) |  |  | (1,687 | ) |  |  | (20,665 | ) |  |  | (6,996 | ) |  |  | 383 |  |  |  | (6,613 | )
Amounts reclassed from AOCI |  |  | (3,072 | ) |  |  | (984 | ) |  |  | (4,056 | ) |  |  | (7,234 | ) |  |  | (2,967 | ) |  |  | (10,201 | )
Net current-period other comprehensive loss |  |  | (22,050 | ) |  |  | (2,671 | ) |  |  | (24,721 | ) |  |  | (14,230 | ) |  |  | (2,584 | ) |  |  | (16,814 | )
Balance at end of period |  | $ | (14,230 | ) |  | $ | 745 |  |  | $ | (13,485 | ) |  | $ | (14,230 | ) |  | $ | 745 |  |  | $ | (13,485 | )
|  | Three Months Ended September 30, 2023 |  |  | Nine Months Ended September 30, 2023 |
|  | Defined Benefit Plan |  |  | Cash Flow Hedges for Interest Payments of Unconsolidated Investee |  |  | Total |  |  | Defined Benefit Plan |  |  | Cash Flow Hedges for Interest Payments of Unconsolidated Investee |  |  | Total |
Balance at beginning of period |  | $ | 10,581 |  |  | $ | 5,360 |  |  | $ | 15,941 |  |  | $ | 10,581 |  |  | $ | - |  |  | $ | 10,581 |
Other comprehensive income before reclassifications |  |  | 267 |  |  |  | - |  |  |  | 267 |  |  |  | 267 |  |  |  | 6,616 |  |  |  | 6,883 |
Amounts reclassified from AOCI |  |  | (10,848 | ) |  |  | 1,256 |  |  |  | (9,592 | ) |  |  | (10,848 | ) |  |  | - |  |  |  | (10,848 | )
Net current-period other comprehensive (loss)/income |  |  | (10,581 | ) |  |  | 1,256 |  |  |  | (9,325 | ) |  |  | (10,581 | ) |  |  | 6,616 |  |  |  | (3,965 | )
Balance at end of period |  | $ | - |  |  | $ | 6,616 |  |  | $ | 6,616 |  |  | $ | - |  |  | $ | 6,616 |  |  | $ | 6,616 |
On the Company’s Condensed Consolidated Statements of Income, unrealized gains and losses reclassified from AOCI related to (i) cash flow hedges for interest payments, which are included in Interest expense, (ii) cash flow hedges for interest payments of unconsolidated investee, which are included in Equity in income of joint ventures, net, and (iii) settlement of defined benefit plan which is included in Other income, net. During the three months ended September 30, 2023, the Weingarten Realty Investors’ noncontributory qualified cash balance retirement plan (the “Benefit Plan”) obligations of $25.5 million were settled through third-party annuity contracts, lump sum distributions and IRA Rollovers. In addition, during the three months ended September 30, 2023, the Benefit Plan transferred excess assets with a value of $3.9 million to the qualified replacement plan managed by the Company and reverted excess assets with a value of $10.6 million to the Company. Upon the liquidation of the Benefit Plan, the Company realized $10.8 million of settlement gains during the three months ended September 30, 2023, which are included in Other income, net on the Company’s Condensed Consolidated Statements of Income and were previously included in Accumulated other comprehensive (loss)/income on the Company’s Condensed Consolidated Balance Sheets. In addition, the Company incurred excise taxes of $2.2 million, resulting from the reversion of excess pension plan assets during the three months ended September 30, 2023, which are included in Other income, net on the Company’s Condensed Consolidated Statements of Income.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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