XML 78 R41.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details) (USD $) In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013
--- | --- | ---
Assets: |  |  |  |
Properties, net | $ 3,798,082 | [1] | $ 3,435,737 | [1]
Other assets | 305,649 | [1] | 295,719 | [1]
Total assets | 4,103,731 | [1] | 3,731,456 | [1]
Liabilities and partners' capital: |  |  |  |
Mortgage notes payable | 3,420,951 | [1],[2] | 3,518,215 | [1],[2]
Other liabilities | 242,861 | [1] | 202,444 | [1]
Company's capital (deficit) | 200,943 | [1] | (25,367) | [1]
Outside partners' capital | 238,976 | [1] | 36,164 | [1]
Total liabilities and partners' capital | 4,103,731 | [1] | 3,731,456 | [1]
Investments in unconsolidated joint ventures: |  |  |  |
Company's capital (deficit) | 200,943 | [1] | (25,367) | [1]
Basis adjustment | 472,808 | [3] | 474,658 | [3]
Investments in unconsolidated joint ventures | 673,751 |  | 449,291 |
Assets—Investments in unconsolidated joint ventures | 927,424 |  | 701,483 |
Liabilities—Distributions in excess of investments in unconsolidated joint ventures | $ (253,673) |  | $ (252,192) |
[1] | These amounts include the assets and liabilities of the following joint ventures as of September 30, 2014 and December 31, 2013: PacificPremierRetail LP TysonsCorner LLCAs of September 30, 2014: Total Assets$736,872 $340,973Total Liabilities$813,400 $873,896As of December 31, 2013: Total Assets$775,012 $356,871Total Liabilities$812,725 $887,413
[2] | Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of September 30, 2014 and December 31, 2013, a total of $33,540 could become recourse debt to the Company. As of September 30, 2014 and December 31, 2013, the Company had an indemnity agreement from a joint venture partner for $16,770 of the guaranteed amount.Included in mortgage notes payable are amounts due to affiliates of Northwestern Mutual Life ("NML") of $703,589 and $712,455 as of September 30, 2014 and December 31, 2013, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates—Broadway Plaza. Interest expense on these borrowings was $9,645 and $7,920 for the three months ended September 30, 2014 and 2013, respectively, and $28,992 and $21,717 for the nine months ended September 30, 2014 and 2013, respectively.
[3] | The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was $948 and $3,860 for the three months ended September 30, 2014 and 2013, respectively, and $3,227 and $9,753 for the nine months ended September 30, 2014 and 2013, respectively.

X
- Definition The carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee, net of the liability for distributions received in excess of the entity's investment. + References No definition available. + Details
Name: | mac_EquityMethodInvestmentsNet
Namespace Prefix: | mac_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The amount of equity (capital) of an equity method investment of the entity that is attributable to other ownership interests. + References No definition available. + Details
Name: | mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests
Namespace Prefix: | mac_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The aggregate carrying amount of other assets not separately disclosed, reported by an equity method investment of the entity. + References No definition available. + Details
Name: | mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
Namespace Prefix: | mac_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The aggregate carrying amount of other liabilities not separately disclosed, reported by an equity method investment of the entity. + References No definition available. + Details
Name: | mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities
Namespace Prefix: | mac_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The net book value of real estate investment property reported by an equity method investment of the entity. + References No definition available. + Details
Name: | mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet
Namespace Prefix: | mac_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations reported by an equity method investment of the entity. + References No definition available. + Details
Name: | mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt
Namespace Prefix: | mac_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The carrying amount of liabilities resulting from investments in unconsolidated real estate and joint ventures not separately presented as of the balance sheet date. + References No definition available. + Details
Name: | mac_InvestmentsInUnconsolidatedJointVentures
Namespace Prefix: | mac_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_AssetsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Difference between amount at which an investment accounted for under the equity method of accounting is carried (reported) on the balance sheet and amount of underlying equity in net assets the reporting Entity has in the investee. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35755396&loc=d3e33749-111570 + Details
Name: | us-gaap_EquityMethodInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The amount of assets reported by an equity method investment of the entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(g)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33912-111571 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph bb -Article 1 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph g -Subparagraph 1, 2 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph w -Article 1 + Details
Name: | us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The amount of liabilities and equity reported by an equity method investment of the entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(g)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33912-111571 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph bb -Article 1 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph g -Subparagraph 1, 2 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph w -Article 1 + Details
Name: | us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition This item represents the entity's ownership percentage in the investee multiplied by the investee's total equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(3) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LiabilitiesAndStockholdersEquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration