XML 53 R60.htm IDEA: XBRL DOCUMENT
v3.19.3

Fair Value Measurements (Details) - Recurring and Nonrecurring Fair Value Measurements - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended |  |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Sep. 30, 2019 | May 08, 2019 | Dec. 31, 2018 | Nov. 16, 2018 | May 09, 2018 | May 08, 2018 | May 18, 2017
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap-mortgage note |  |  |  |  |  |  | $ (28,300) |  |  |  |  |  |
Share price |  |  |  |  |  |  |  | $ 11.10 |  | $ 11.05 | $ 11.05 | $ 11.00 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment charge of real estate | $ 35,710 | $ 16,757 |  | $ 74,626 | $ 27,696 |  |  |  |  |  |  |  |
Nonrecurring Fair Value Measurement Discount Rate |  |  |  |  |  |  | 19.00% |  |  |  |  |  |
Management Contracts |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of Intangible Assets, Finite-lived |  |  |  | $ 7,800 |  |  |  |  |  |  |  |  |
Management Contractss, Amortization Expense, Fiscal Year Maturity |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization expense, remainder of 2019 |  |  |  |  |  |  | $ 400 |  |  |  |  |  |
Amortization expense, 2020 |  |  |  |  |  |  | 1,400 |  |  |  |  |  |
Amortization expense, 2021 |  |  |  |  |  |  | 1,400 |  |  |  |  |  |
Amortization expense, 2022 |  |  |  |  |  |  | $ 900 |  |  |  |  |  |
OP Units |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
Share price |  |  |  |  |  |  | $ 11.20 |  |  |  |  |  | $ 10.20
Maximum | OP Units | Phillips Edison Limited Partnership |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
PELP transaction, OP units issued and issuable, shares |  |  | 12.5 | 5.0 |  | 12.5 |  |  |  |  |  |  |
Minimum | OP Units | Phillips Edison Limited Partnership |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
PELP transaction, OP units issued and issuable, shares |  |  |  | 3.0 |  |  |  |  |  |  |  |  |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Interest Rate Swap | Designated as Hedging Instrument |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps-term loans |  |  |  |  |  |  | $ 1,711 |  | $ 29,708 |  |  |  |
Interest rate swap-mortgage note |  |  |  |  |  |  | (28,281) |  | (3,633) |  |  |  |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
Earn-out liability | (32,000) |  |  | $ (39,500) |  | $ (39,500) | (32,000) |  | (39,500) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |
Business Combination, Contingent Consideration, Liability |  |  |  | 39,500 |  |  |  |  |  |  |  |  |
Business Combination, Contingent Consideration, Liability | 32,000 |  |  | 32,000 |  | 39,500 |  |  |  |  |  |  |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Phillips Edison Limited Partnership |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
Earn-out liability | (32,000) |  |  | (39,500) |  | (39,500) | (32,000) |  | (39,500) |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |
Business Combination, Contingent Consideration, Liability |  |  |  | 39,500 |  |  |  |  |  |  |  |  |
Change in fair value recognized in Other Income (Expense), Net |  |  |  | (7,500) |  |  |  |  |  |  |  |  |
Business Combination, Contingent Consideration, Liability | $ 32,000 |  |  | $ 32,000 |  | $ 39,500 |  |  |  |  |  |  |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 2 |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired real estate assets, net |  |  |  |  |  |  | 192,225 |  | $ 71,991 |  |  |  |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value, Assets (Liabilities) Measured on Recurring Basis |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired corporate intangible asset, net |  |  |  |  |  |  | $ 4,401 |  |  |  |  |  |

X
- Definition Represents the value of long-lived assets after impairment during the year. + References No definition available. + Details
Name: | cik0001476204_ImpairedLongLivedAssets
Namespace Prefix: | cik0001476204_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition For fair value measurements categorized within Level 3 of the fair value hierarchy, a reporting entity shall provide quantitative information about the discount rate used in the fair value measurement. + References No definition available. + Details
Name: | cik0001476204_NonrecurringFairValueMeasurementDiscountRate
Namespace Prefix: | cik0001476204_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of shares of equity interests issued or issuable to acquire entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b)(4) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 + Details
Name: | us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of liability recognized arising from contingent consideration in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 35 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116859824&loc=d3e6819-128478 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 25 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6911189&loc=d3e6408-128476 + Details
Name: | us-gaap_BusinessCombinationContingentConsiderationLiability
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. + References No definition available. + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of gain (loss) recognized in income from liability measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized in the remainder of the fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 + Details
Name: | us-gaap_ImpairmentOfIntangibleAssetsFinitelived
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2921-110230 + Details
Name: | us-gaap_ImpairmentOfRealEstate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as assets. + References No definition available. + Details
Name: | us-gaap_InterestRateDerivativeAssetsAtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. + References No definition available. + Details
Name: | us-gaap_InterestRateDerivativeLiabilitiesAtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Price of a single share of a number of saleable stocks of a company. + References No definition available. + Details
Name: | us-gaap_SharePrice
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_CustomerContractsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ContingentConsiderationByTypeAxis=us-gaap_CapitalUnitsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=cik0001476204_PhillipsEdisonLimitedPartnershipMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |