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Property, net (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Real Estate Properties

Property is recorded at cost and is depreciated using a straight-line method over the estimated useful lives of the assets as follows:

Buildings and improvements			5 - 40 years
Tenant improvements			5 - 7 years
Equipment and furnishings			5 - 7 years

Property, net at December 31, 2022 and 2021 consists of the following:

			2022						2021
Land			$	1,425,211					$	1,441,858
Buildings and improvements			6,378,736						6,306,764
Tenant improvements			711,007						685,242
Equipment and furnishings(1)			186,767						191,266
Construction in progress			218,859						222,420
			8,920,580						8,847,550
Less accumulated depreciation(1)			(2,792,790)						(2,563,344)
			$	6,127,790					$	6,284,206

(1)Equipment and furnishings and accumulated depreciation include the cost and accumulated amortization of ROU assets in connection with finance leases at December 31, 2022 and 2021 (See Note 8—Leases).

Schedule of Loss (Gain) on Sale or Write down of Assets

The gain (loss) on sale or write down of assets, net for the years ended December 31, 2022, 2021 and 2020 consist of the following:

			2022						2021						2020
Property sales(1)			$	386					$	113,657					$	—
Write-down of assets(2)			(15,045)						(67,344)						(76,705)
Land sales			22,357						29,427						8,593
			$	7,698					$	75,740					$	(68,112)

_______________________________________________________________________________

(1)Includes gains related to the sale of La Encantada and Paradise Valley Mall (See Note 16-Dispositions).

(2)Includes impairment loss of $5,471 relating to the Company's investment in MS Portfolio LLC (See Note 4—Investments in Unconsolidated Joint Ventures) and impairment loss of $5,140 on Towne Mall during the year ended December 31, 2022. Includes a loss of $28,276 in 2021 in connection with the assignment of the Company's partnership interest in The Shops at North Bridge (See Note 4—Investments in Unconsolidated Joint Ventures) and impairment loss of $27,281 on Estrella Falls during the year ended December 31, 2021 and impairment losses of $30,063 on Wilton Mall and $6,640 on Paradise Valley Mall during the year ended December 31, 2020. The impairment losses were due to the reduction of the estimated holding periods of the properties. The remaining amounts for the years ended December 31, 2022, 2021 and 2020 mainly pertain to the write off of development costs.

Assets Measured on a Nonrecurring Basis

The following table summarizes certain of the Company's assets that were measured on a nonrecurring basis as a result of impairment charges recorded for the years ended December 31, 2022, 2021 and 2020 as described above:

Years ended December 31,						Total Fair Value Measurement						Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Unobservable Inputs
												(Level 1)						(Level 2)						(Level 3)
2022						$	18,250					$	—					$	—					$	18,250
2021						$	4,720					$	—					$	4,720					$	—
2020						$	151,875					$	—					$	151,875					$	—

X

- Definition

Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported.

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Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.

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