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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2018
Schedule of management, transaction, and other fees [Line Items] |
Schedule of Variable Interest Entities [Table Text Block] | The major classes of assets, liabilities, and noncontrolling equity interests held by the Company's VIEs, exclusive of the Operating Partnership as a whole, are as follows:
(in thousands) | December 31, 2018 | December 31, 2017
Assets |  |
Net real estate investments | $112,085 | 172,736
Cash and cash equivalents | 7,309 | 4,993
Liabilities |  |
Notes payable | 18,432 | 16,551
Equity |  |
Limited partners’ interests in consolidated partnerships | 30,280 | 17,572
Revenue Recognition, Policy [Policy Text Block] | Revenues and Tenant Receivable Leasing Revenue and Receivables The Company leases space to tenants under agreements with varying terms. Leases are accounted for as operating leases with minimum rent recognized on a straight-line basis over the term of the lease regardless of when payments are due. When the Company is the owner of the leasehold improvements, recognition of straight-line lease revenue commences when the lessee is given possession of the leased space upon completion of tenant improvements. However, when the leasehold improvements are owned by the tenant, the lease inception date is the date the tenant obtains possession of the leased space for purposes of constructing its leasehold improvements. More than half of all of the lease agreements with anchor tenants contain provisions that provide for additional rents based on tenants' sales volume ("percentage rent"). Percentage rents are recognized when the tenants achieve the specified targets as defined in their lease agreements. Most all lease agreements contain provisions for reimbursement of the tenants' share of real estate taxes, insurance and CAM costs. Recovery of real estate taxes, insurance, and CAM costs are recognized as the respective costs are incurred in accordance with the lease agreements. The following table represents the components of Tenant and other receivables, net in the accompanying Consolidated Balance Sheets:
| December 31,
(in thousands) | 2018 |  | 2017
Billed tenant receivables | $ | 25,590 |  |  | 25,329 |
Accrued CAM, insurance and tax reimbursements | 25,305 |  |  | 14,825 |
Other receivables | 30,953 |  |  | 34,472 |
Straight-line rent receivables | 105,677 |  |  | 93,284 |
Notes receivable | — |  |  | 15,803 |
Less: allowance for doubtful accounts | (10,100 | ) |  | (8,040 | )
Less: straight-line rent reserves | (5,066 | ) |  | (4,688 | )
Total tenant and other receivables, net | $ | 172,359 |  |  | 170,985 |
The Company estimates the collectibility of the accounts receivable related to base rents, straight-line rents, expense reimbursements, and other revenue taking into consideration the Company's historical write-off experience, tenant credit-worthiness, current economic trends, and remaining lease terms. The Company recorded the following provisions for doubtful accounts:
| Year ended December 31,
(in thousands) | 2018 |  | 2017 |  | 2016
Gross provision for doubtful accounts | $ | 4,993 |  |  | 3,992 |  |  | 1,705 |
Provision for straight line rent reserve | $ | 1,741 |  |  | 1,129 |  |  | 2,271 |
Real Estate Sales On January 1, 2018, the Company adopted the new accounting guidance for sales of nonfinancial assets (“Subtopic 610-20”), as discussed further in the section below, Recent Accounting Pronouncements. Upon adoption of the new standard, the Company's accounting policy for real estate sales subject to Subtopic 610-20 has been updated. Effective January 1, 2018, the Company derecognizes real estate and recognizes a gain or loss on sales of real estate when a contract exists and control of the property has transferred to the buyer. Control of the property, including controlling financial interest, is generally considered to transfer upon closing through transfer of the legal title and possession of the property. Any retained noncontrolling interest is measured at fair value. This change in accounting policy resulted in the recognition, through opening retained earnings on January 1, 2018, of $30.9 million of previously deferred gains from property sales to the Company's Investments in real estate partnerships. Prior to January 1, 2018, the Company recognized profits from sales of real estate under the full accrual method by the Company when: (i) a sale was consummated; (ii) the buyer's initial and continuing investment was adequate to demonstrate a commitment to pay for the property; (iii) the Company's receivable, if applicable, was not subject to future subordination; (iv) the Company had transferred to the buyer the usual risks and rewards of ownership; and (v) the Company did not have substantial continuing involvement with the property. Management Services On January 1, 2018, the Company adopted the new accounting guidance for revenue recognition (Topic 606 Revenue from Contracts with Customers, “Topic 606”), as discussed further in the section below, Recent Accounting Pronouncements. Upon adoption of the new standard, certain of the Company's significant accounting policies subject to Topic 606 have been updated. The Company adopted Topic 606 using a modified retrospective approach and applied the transition practical expedients allowed by the standard. Additionally, the Company does not need to estimate variable consideration to recognize revenue and was able to apply the practical expedient related to the remaining performance obligations, because all of its performance obligations are: •satisfied at a point in time, •part of a contract that has an original expected duration of one year or less, or
• | considered to be a series of performance obligations where variable consideration is allocated entirely to a wholly unsatisfied distinct day of service that forms part of the series.
Subsequent to the adoption of Topic 606, the Company recognizes revenue when or as control of the promised services are transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The following is a description of the Company's revenue from contracts with customers which is in the scope of Topic 606. Property and Asset Management Services The Company is engaged under agreements with its joint venture partnerships, which are generally perpetual in nature and cancellable through unanimous partner approval, absent an event of default. Under these agreements, the Company is to provide asset management, property management, and leasing services for the joint ventures' shopping centers. The fees are market-based, generally calculated as a percentage of either revenues earned or the estimated values of the properties managed or the proceeds received, and are recognized over the monthly or quarterly periods as services are rendered. Property management and asset management services represent a series of distinct daily services. Accordingly, the Company satisfies its performance obligation as service is rendered each day and the variability associated with that compensation is resolved each day. Amounts due from the partnerships for such services are paid during the month following the monthly or quarterly service periods. Several of the Company’s partnership agreements provide for incentive payments, generally referred to as “promotes” or “earnouts,” to Regency for appreciation in property values in Regency's capacity as manager. The terms of these promotes are based on appreciation in real estate value over designated time intervals. The Company evaluates its expected promote payout at each reporting period, which generally does not result in revenue recognition until the measurement period has completed, when the amount can be reasonably determined and the amount is not probable of significant reversal. The Company did not recognize any promote revenue during the years ended December 31, 2018, 2017, or 2016. Leasing Services Leasing service fees are based on a percentage of the total rent due under the lease. The leasing service is considered performed upon successful execution of an acceptable tenant lease for the joint ventures’ shopping centers, at which time revenue is recognized. Payment of the first half of the fee is generally due upon lease execution and the second half is generally due upon tenant opening or rent payments commencing. Transaction Services The Company also receives transaction fees, as contractually agreed upon with each joint venture, which include acquisition fees, disposition fees, and financing service fees. Control of these services is generally transferred at the time the related transaction closes, which is the point in time when the Company recognizes the related fee revenue. Any unpaid amounts related to transaction-based fees are included in Tenant and other receivables, net, within the Consolidated Balance Sheets. All income from management service contracts is included within Management, transaction and other fees on the Consolidated Statements of Operations, as follows:
|  |  |  | Year ended December 31,
(in thousands) |  | Timing of satisfaction of performance obligations |  | 2018 |  | 2017 |  | 2016
Property management services |  | Over time | $ | 14,663 |  |  | 13,917 |  |  | 13,075 |
Asset management services |  | Over time |  | 7,213 |  |  | 7,090 |  |  | 6,746 |
Leasing services |  | Point in time |  | 4,044 |  |  | 3,573 |  |  | 4,285 |
Other transaction fees |  | Point in time |  | 2,574 |  |  | 1,578 |  |  | 1,221 |
Total management, transaction, and other fees | $ | 28,494 |  |  | 26,158 |  |  | 25,327 |
The accounts receivable for management services, which is included within Tenant and other receivables, net, in the accompanying Consolidated Balance Sheets, are $12.5 million and $8.7 million, as of December 31, 2018 and 2017.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | The following table represents the components of Tenant and other receivables, net in the accompanying Consolidated Balance Sheets:
| December 31,
(in thousands) | 2018 |  | 2017
Billed tenant receivables | $ | 25,590 |  |  | 25,329 |
Accrued CAM, insurance and tax reimbursements | 25,305 |  |  | 14,825 |
Other receivables | 30,953 |  |  | 34,472 |
Straight-line rent receivables | 105,677 |  |  | 93,284 |
Notes receivable | — |  |  | 15,803 |
Less: allowance for doubtful accounts | (10,100 | ) |  | (8,040 | )
Less: straight-line rent reserves | (5,066 | ) |  | (4,688 | )
Total tenant and other receivables, net | $ | 172,359 |  |  | 170,985 |
Provisions for Doubtful Accounts [Table Text Block] | The Company recorded the following provisions for doubtful accounts:
| Year ended December 31,
(in thousands) | 2018 |  | 2017 |  | 2016
Gross provision for doubtful accounts | $ | 4,993 |  |  | 3,992 |  |  | 1,705 |
Provision for straight line rent reserve | $ | 1,741 |  |  | 1,129 |  |  | 2,271 |
Schedule of Other Current Assets [Table Text Block] | (e) Other Assets Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Othe r, and allocates its goodwill to its reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year, or more frequently as triggers occur. The goodwill impairment evaluation is completed using either a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the reporting unit’s fair value is less than its carrying value, including goodwill. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a reporting unit (including goodwill) exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any reporting unit, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each reporting unit using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The fair value of securities is determined using quoted market prices. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized through earnings in Investment income in the Consolidated Statements of Operations. Debt securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. Equity securities with readily determinable fair values are measured at fair value with changes in the fair value recognized through net income and presented within Investment income in the Consolidated Statements of Operations. Other Assets The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets:
(in thousands) | December 31, 2018 |  | December 31, 2017
Goodwill | $ | 314,143 |  |  | 331,884 |
Investments | 41,287 |  |  | 41,636 |
Prepaid and other | 17,937 |  |  | 30,332 |
Derivative assets | 17,482 |  |  | 14,515 |
Furniture, fixtures, and equipment, net | 6,127 |  |  | 6,123 |
Deferred financing costs, net | 6,851 |  |  | 2,637 |
Total other assets | $ | 403,827 |  |  | 427,127 |
The following table presents the goodwill balances and activity during the year to date periods ended:
(in thousands) | December 31, 2018 |  | December 31, 2017
| Goodwill | Accumulated Impairment Losses | Total |  | Goodwill | Accumulated Impairment Losses | Total
Beginning of year balance | $ | 331,884 |  | — |  | 331,884 |  |  | — |  | — |  | — |
Goodwill resulting from Equity One merger | 500 |  | — |  | 500 |  |  | 331,884 |  | — |  | 331,884 |
Goodwill allocated to Provision for impairment | — |  | (12,628 | ) | (12,628 | ) |  | — |  | — |  | — |
Goodwill allocated to Properties held for sale | (1,159 | ) | — |  | (1,159 | ) |  | — |  | — |  | — |
Goodwill associated with disposed reporting units: |  |  |  |  |  |  |
Goodwill allocated to Provision for impairment | (9,913 | ) | 9,913 |  | — |  |  | — |  | — |  | — |
Goodwill allocated to Gain on sale of real estate | (4,454 | ) | — |  | (4,454 | ) |  | — |  | — |  | — |
End of year balance | $ | 316,858 |  | (2,715 | ) | 314,143 |  |  | 331,884 |  | — |  | 331,884 |
During the year ended December 31, 2018, the Company recognized a $38.4 million provision for impairment, net of tax, on seven operating properties that sold or are expected to sell, including $12.6 million of goodwill. As the Company identifies properties ("reporting units") that no longer meet its investment criteria, it will evaluate the property for potential sale. A decision to sell a reporting unit results in the need to evaluate its goodwill for recoverability and may result in impairment. If events occur that trigger an impairment evaluation at multiple reporting units, a goodwill impairment may be significant.
Schedule of Other Assets [Table Text Block] | The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets:
(in thousands) | December 31, 2018 |  | December 31, 2017
Goodwill | $ | 314,143 |  |  | 331,884 |
Investments | 41,287 |  |  | 41,636 |
Prepaid and other | 17,937 |  |  | 30,332 |
Derivative assets | 17,482 |  |  | 14,515 |
Furniture, fixtures, and equipment, net | 6,127 |  |  | 6,123 |
Deferred financing costs, net | 6,851 |  |  | 2,637 |
Total other assets | $ | 403,827 |  |  | 427,127 |

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