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Investments in Unconsolidated Joint Ventures (Tables) | 6 Months Ended
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Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract] |
Combined and condensed balance sheets of unconsolidated joint ventures | Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:
| June 30, 2018 |  | December 31, 2017
Assets(1): |  |  |
Property, net | $ | 9,002,271 |  |  | $ | 9,052,105 |
Other assets | 620,500 |  |  | 635,838 |
Total assets | $ | 9,622,771 |  |  | $ | 9,687,943 |
Liabilities and partners' capital(1): |  |  |
Mortgage and other notes payable(2) | $ | 5,964,691 |  |  | $ | 5,296,594 |
Other liabilities | 386,509 |  |  | 405,052 |
Company's capital | 1,839,908 |  |  | 2,188,057 |
Outside partners' capital | 1,431,663 |  |  | 1,798,240 |
Total liabilities and partners' capital | $ | 9,622,771 |  |  | $ | 9,687,943 |
Investments in unconsolidated joint ventures: |  |  |
Company's capital | $ | 1,839,908 |  |  | $ | 2,188,057 |
Basis adjustment(3) | (550,766 | ) |  | (562,021 | )
| $ | 1,289,142 |  |  | $ | 1,626,036 |
Assets—Investments in unconsolidated joint ventures | $ | 1,381,358 |  |  | $ | 1,709,522 |
Liabilities—Distributions in excess of investments in unconsolidated joint ventures | (92,216 | ) |  | (83,486 | )
| $ | 1,289,142 |  |  | $ | 1,626,036 |
(1) | These amounts include the assets of $3,059,530 and $3,106,105 of Pacific Premier Retail LLC (the "PPR Portfolio") as of June 30, 2018 and December 31, 2017, respectively, and liabilities of $1,859,679 and $1,872,227 of the PPR Portfolio as of June 30, 2018 and December 31, 2017, respectively.
(2) | Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of $701,884 and $482,332 as of June 30, 2018 and December 31, 2017, 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 $7,158 and $4,929 for the three months ended June 30, 2018 and 2017, respectively, and $12,116 and $8,089 for the six months ended June 30, 2018 and 2017, 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 $3,524 and $4,197 for the three months ended June 30, 2018 and 2017, respectively, and $7,627 and $8,224 for the six months ended June 30, 2018 and 2017, 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
Three Months Ended June 30, 2018 |  |  |  |  |
Revenues: |  |  |  |  |
Minimum rents | $ | 32,881 |  |  | $ | 123,940 |  |  | $ | 156,821 |
Percentage rents | 269 |  |  | 1,262 |  |  | 1,531 |
Tenant recoveries | 11,400 |  |  | 47,312 |  |  | 58,712 |
Other | 1,244 |  |  | 14,973 |  |  | 16,217 |
Total revenues | 45,794 |  |  | 187,487 |  |  | 233,281 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 9,517 |  |  | 60,325 |  |  | 69,842 |
Interest expense | 16,770 |  |  | 37,356 |  |  | 54,126 |
Depreciation and amortization | 24,071 |  |  | 60,973 |  |  | 85,044 |
Total operating expenses | 50,358 |  |  | 158,654 |  |  | 209,012 |
Gain on sale or write down of assets, net | — |  |  | 559 |  |  | 559 |
Net (loss) income | $ | (4,564 | ) |  | $ | 29,392 |  |  | $ | 24,828 |
Company's equity in net (loss) income | $ | (257 | ) |  | $ | 15,926 |  |  | $ | 15,669 |
Three Months Ended June 30, 2017 |  |  |  |  |
Revenues: |  |  |  |  |
Minimum rents | $ | 32,045 |  |  | $ | 126,765 |  |  | $ | 158,810 |
Percentage rents | 221 |  |  | 2,126 |  |  | 2,347 |
Tenant recoveries | 11,373 |  |  | 46,119 |  |  | 57,492 |
Other | 1,402 |  |  | 13,017 |  |  | 14,419 |
Total revenues | 45,041 |  |  | 188,027 |  |  | 233,068 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 9,711 |  |  | 58,886 |  |  | 68,597 |
Interest expense | 16,675 |  |  | 32,976 |  |  | 49,651 |
Depreciation and amortization | 24,802 |  |  | 62,090 |  |  | 86,892 |
Total operating expenses | 51,188 |  |  | 153,952 |  |  | 205,140 |
Loss on sale or write down of assets, net | — |  |  | (2 | ) |  | (2 | )
Net (loss) income | $ | (6,147 | ) |  | $ | 34,073 |  |  | $ | 27,926 |
Company's equity in net (loss) income | $ | (1,034 | ) |  | $ | 17,970 |  |  | $ | 16,936 |
| PPR Portfolio |  |  | Other Joint Ventures |  | Total
Six Months Ended June 30, 2018 |  |  |  |  |  |
Revenues: |  |  |  |  |  |
Minimum rents | $ | 65,620 |  |  |  | $ | 251,648 |  |  | $ | 317,268 |
Percentage rents | 701 |  |  |  | 3,073 |  |  | 3,774 |
Tenant recoveries | 22,800 |  |  |  | 95,416 |  |  | 118,216 |
Other | 2,261 |  |  |  | 26,064 |  |  | 28,325 |
Total revenues | 91,382 |  |  |  | 376,201 |  |  | 467,583 |
Expenses: |  |  |  |  |  |
Shopping center and operating expenses | 19,198 |  |  |  | 121,646 |  |  | 140,844 |
Interest expense | 33,496 |  |  |  | 70,388 |  |  | 103,884 |
Depreciation and amortization | 48,555 |  |  |  | 123,385 |  |  | 171,940 |
Total operating expenses | 101,249 |  |  |  | 315,419 |  |  | 416,668 |
Gain on sale or write down of assets, net | — |  |  |  | 1,529 |  |  | 1,529 |
Net (loss) income | $ | (9,867 | ) |  |  | $ | 62,311 |  |  | $ | 52,444 |
Company's equity in net (loss) income | $ | (873 | ) |  |  | $ | 33,414 |  |  | $ | 32,541 |
Six Months Ended June 30, 2017 |  |  |  |  |  |
Revenues: |  |  |  |  |  |
Minimum rents | $ | 65,581 |  |  |  | $ | 250,268 |  |  | $ | 315,849 |
Percentage rents | 951 |  |  |  | 3,864 |  |  | 4,815 |
Tenant recoveries | 22,812 |  |  |  | 94,034 |  |  | 116,846 |
Other | 2,428 |  |  |  | 24,528 |  |  | 26,956 |
Total revenues | 91,772 |  |  |  | 372,694 |  |  | 464,466 |
Expenses: |  |  |  |  |  |
Shopping center and operating expenses | 19,471 |  |  |  | 121,081 |  |  | 140,552 |
Interest expense | 33,401 |  |  |  | 65,255 |  |  | 98,656 |
Depreciation and amortization | 51,078 |  |  |  | 124,969 |  |  | 176,047 |
Total operating expenses | 103,950 |  |  |  | 311,305 |  |  | 415,255 |
(Loss) gain on sale or write down of assets, net | (35 | ) |  |  | 4,579 |  |  | 4,544 |
Net (loss) income | $ | (12,213 | ) |  |  | $ | 65,968 |  |  | $ | 53,755 |
Company's equity in net (loss) income | $ | (1,996 | ) |  |  | $ | 34,775 |  |  | $ | 32,779 |

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