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Investments in Unconsolidated Joint Ventures (Tables) | 12 Months Ended
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Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Ownership Interest in Joint Ventures | The following are the Company's direct or indirect investments in various joint ventures with third parties. The Company's direct or indirect ownership interest in each joint venture as of December 31, 2017 was as follows:
Joint Venture | Ownership %(1)
443 Wabash MAB LLC | 45.0 | %
AM Tysons LLC | 50.0 | %
Biltmore Shopping Center Partners LLC | 50.0 | %
Candlestick Center LLC—Fashion Outlets of San Francisco | 50.1 | %
Coolidge Holding LLC | 37.5 | %
Corte Madera Village, LLC | 50.1 | %
Country Club Plaza KC Partners LLC | 50.0 | %
Fashion District Philadelphia—Various Entities | 50.0 | %
Jaren Associates #4 | 12.5 | %
Kierland Commons Investment LLC | 50.0 | %
Macerich HHF Centers LLC—Various Properties | 51.0 | %
Macerich Northwestern Associates—Broadway Plaza | 50.0 | %
MS Portfolio LLC | 50.0 | %
New River Associates LLC—Arrowhead Towne Center | 60.0 | %
North Bridge Chicago LLC | 50.0 | %
One Scottsdale Investors LLC | 50.0 | %
Pacific Premier Retail LLC—Various Properties | 60.0 | %
Propcor II Associates, LLC—Boulevard Shops | 50.0 | %
Scottsdale Fashion Square Partnership | 50.0 | %
The Market at Estrella Falls LLC | 40.1 | %
TM TRS Holding Company LLC | 50.0 | %
Tysons Corner LLC | 50.0 | %
Tysons Corner Hotel I LLC | 50.0 | %
Tysons Corner Property Holdings II LLC | 50.0 | %
Tysons Corner Property LLC | 50.0 | %
West Acres Development, LLP | 19.0 | %
Westcor/Queen Creek LLC | 38.2 | %
Westcor/Surprise Auto Park LLC | 33.3 | %
WMAP, L.L.C.—Atlas Park, The Shops at | 50.0 | %
_______________________________________________________________________________
(1) | The Company's ownership interest in this table reflects its direct or indirect legal ownership interest. Legal ownership may, at times, not equal the Company’s economic interest in the listed entities because of various provisions in certain joint venture agreements regarding distributions of cash flow based on capital account balances, allocations of profits and losses and payments of preferred returns. As a result, the Company’s actual economic interest (as distinct from its legal ownership interest) in certain of the properties could fluctuate from time to time and may not wholly align with its legal ownership interests. Substantially all of the Company’s joint venture agreements contain rights of first refusal, buy-sell provisions, exit rights, default dilution remedies and/or other break up provisions or remedies which are customary in real estate joint venture agreements and which may, positively or negatively, affect the ultimate realization of cash flow and/or capital or liquidation proceeds.
Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures and Other Related Information | Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures as of December 31:
| 2017 |  | 2016
Assets(1): |  |  |
Property, net | $ | 9,052,105 |  |  | $ | 9,176,642 |
Other assets | 635,838 |  |  | 614,607 |
Total assets | $ | 9,687,943 |  |  | $ | 9,791,249 |
Liabilities and partners' capital(1): |  |  |
Mortgage and other notes payable(2) | $ | 5,296,594 |  |  | $ | 5,224,713 |
Other liabilities | 405,052 |  |  | 403,369 |
Company's capital | 2,188,057 |  |  | 2,279,819 |
Outside partners' capital | 1,798,240 |  |  | 1,883,348 |
Total liabilities and partners' capital | $ | 9,687,943 |  |  | $ | 9,791,249 |
Investment in unconsolidated joint ventures: |  |  |
Company's capital | $ | 2,188,057 |  |  | $ | 2,279,819 |
Basis adjustment(3) | (562,021 | ) |  | (584,887 | )
| $ | 1,626,036 |  |  | $ | 1,694,932 |
Assets—Investments in unconsolidated joint ventures | $ | 1,709,522 |  |  | $ | 1,773,558 |
Liabilities—Distributions in excess of investments in unconsolidated joint ventures | (83,486 | ) |  | (78,626 | )
| $ | 1,626,036 |  |  | $ | 1,694,932 |
_______________________________________________________________________________
(1) | These amounts include the assets of $3,106,105 and $3,179,255 of the PPR Portfolio as of December 31, 2017 and 2016, respectively, and liabilities of $1,872,227 and $1,887,952 of the PPR Portfolio as of December 31, 2017 and 2016, respectively.
(2) | Included in mortgage and other notes payable are amounts due to affiliates of Northwestern Mutual Life ("NML") of $482,332 and $265,863 as of December 31, 2017 and 2016, 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 incurred on these borrowings amounted to $17,898, $16,898 and $29,372 for the years ended December 31, 2017, 2016 and 2015, 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 $16,562, $17,610 and $5,619 for the years ended December 31, 2017, 2016 and 2015, respectively.
Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures | Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:
|  |  | PPR Portfolio |  | Other Joint Ventures |  | Total
Year Ended December 31, 2017 |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Minimum rents |  |  | $ | 134,450 |  |  | $ | 501,732 |  |  | $ | 636,182 |
Percentage rents |  |  | 5,050 |  |  | 13,866 |  |  | 18,916 |
Tenant recoveries |  |  | 46,575 |  |  | 189,059 |  |  | 235,634 |
Other |  |  | 5,959 |  |  | 51,767 |  |  | 57,726 |
Total revenues |  |  | 192,034 |  |  | 756,424 |  |  | 948,458 |
Expenses: |  |  |  |  |  |  |
Shopping center and operating expenses |  |  | 41,340 |  |  | 243,271 |  |  | 284,611 |
Interest expense |  |  | 67,053 |  |  | 131,714 |  |  | 198,767 |
Depreciation and amortization |  |  | 101,625 |  |  | 250,921 |  |  | 352,546 |
Total operating expenses |  |  | 210,018 |  |  | 625,906 |  |  | 835,924 |
(Loss) gain on sale of assets |  |  | (36 | ) |  | 33,861 |  |  | 33,825 |
Net (loss) income |  |  | $ | (18,020 | ) |  | $ | 164,379 |  |  | $ | 146,359 |
Company's equity in net (loss) income |  |  | $ | (453 | ) |  | $ | 85,999 |  |  | $ | 85,546 |
Year Ended December 31, 2016 |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Minimum rents |  |  | $ | 129,145 |  |  | $ | 471,139 |  |  | $ | 600,284 |
Percentage rents |  |  | 5,437 |  |  | 15,480 |  |  | 20,917 |
Tenant recoveries |  |  | 47,856 |  |  | 187,288 |  |  | 235,144 |
Other |  |  | 6,303 |  |  | 49,937 |  |  | 56,240 |
Total revenues |  |  | 188,741 |  |  | 723,844 |  |  | 912,585 |
Expenses: |  |  |  |  |  |  |
Shopping center and operating expenses |  |  | 39,804 |  |  | 234,704 |  |  | 274,508 |
Interest expense |  |  | 64,626 |  |  | 123,043 |  |  | 187,669 |
Depreciation and amortization |  |  | 108,880 |  |  | 251,498 |  |  | 360,378 |
Total operating expenses |  |  | 213,310 |  |  | 609,245 |  |  | 822,555 |
Loss on sale of assets |  |  | — |  |  | (375 | ) |  | (375 | )
Net (loss) income |  |  | $ | (24,569 | ) |  | $ | 114,224 |  |  | $ | 89,655 |
Company's equity in net (loss) income |  |  | $ | (3,088 | ) |  | $ | 60,029 |  |  | $ | 56,941 |
|  |  | PPR Portfolio(1) |  | Other Joint Ventures |  | Total
Year Ended December 31, 2015 |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |
Minimum rents |  |  | $ | 21,172 |  |  | $ | 293,921 |  |  | $ | 315,093 |
Percentage rents |  |  | 2,569 |  |  | 13,188 |  |  | 15,757 |
Tenant recoveries |  |  | 8,408 |  |  | 129,059 |  |  | 137,467 |
Other |  |  | 1,182 |  |  | 33,931 |  |  | 35,113 |
Total revenues |  |  | 33,331 |  |  | 470,099 |  |  | 503,430 |
Expenses: |  |  |  |  |  |  |
Shopping center and operating expenses |  |  | 6,852 |  |  | 165,795 |  |  | 172,647 |
Interest expense |  |  | 10,448 |  |  | 78,279 |  |  | 88,727 |
Depreciation and amortization |  |  | 16,919 |  |  | 133,707 |  |  | 150,626 |
Total operating expenses |  |  | 34,219 |  |  | 377,781 |  |  | 412,000 |
Gain on sale of assets |  |  | — |  |  | 9,850 |  |  | 9,850 |
Loss on extinguishment of debt |  |  | — |  |  | (3 | ) |  | (3 | )
Net (loss) income |  |  | $ | (888 | ) |  | $ | 102,165 |  |  | $ | 101,277 |
Company's equity in net income |  |  | $ | 1,409 |  |  | $ | 43,755 |  |  | $ | 45,164 |
_______________________________________________________________________________
(1) | These amounts exclude the results of operations from January 1, 2015 to October 29, 2015, as the PPR Portfolio was converted from Consolidated Centers to an Unconsolidated Joint Venture Centers effective October 30, 2015, as a result of the PPR Portfolio transaction as discussed above.

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