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Business Segments | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Business Segments | Business Segments The Company has two reportable business segments: Shopping Centers and Mixed-Use Properties. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates performance based upon income and cash flows from real estate of the combined properties in each segment. All of our properties within each segment generate similar types of revenues and expenses related to tenant rent, reimbursements and operating expenses. Although services are provided to a variety of tenants, the types of services provided to them are similar within each segment. The properties in each portfolio have similar economic characteristics and the nature of the products and services provided to our tenants and the method to distribute such services are consistent throughout the portfolio. Certain reclassifications have been made to prior year information to conform to the 2022 presentation.
Financial Information By Segment
(In thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Three Months Ended September 30, 2022 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 42,478 |  |  | $ | 18,609 |  |  | $ | — |  |  | $ | 61,087 |
Expenses | (8,826) |  |  | (7,247) |  |  | — |  |  | (16,073) |
Income from real estate | 33,652 |  |  | 11,362 |  |  | — |  |  | 45,014 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (11,103) |  |  | (11,103) |
Depreciation and amortization of lease costs | (7,073) |  |  | (5,122) |  |  | — |  |  | (12,195) |
General and administrative | — |  |  | — |  |  | (5,555) |  |  | (5,555) |
Loss on early extinguishment of debt | — |  |  | — |  |  | (648) |  |  | (648) |
Net income (loss) | $ | 26,579 |  |  | $ | 6,240 |  |  | $ | (17,306) |  |  | $ | 15,513 |
Capital investment | $ | 2,280 |  |  | $ | 30,315 |  |  | $ | — |  |  | $ | 32,595 |
Total assets | $ | 936,285 |  |  | $ | 855,797 |  |  | $ | 17,936 |  |  | $ | 1,810,018 |
Three Months Ended September 30, 2021 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 42,485 |  |  | $ | 17,771 |  |  | $ | — |  |  | $ | 60,256 |
Expenses | (8,640) |  |  | (6,724) |  |  | — |  |  | (15,364) |
Income from real estate | 33,845 |  |  | 11,047 |  |  | — |  |  | 44,892 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (10,914) |  |  | (10,914) |
Depreciation and amortization of lease costs | (7,203) |  |  | (5,264) |  |  | — |  |  | (12,467) |
General and administrative | — |  |  | — |  |  | (4,626) |  |  | (4,626) |
Net income (loss) | $ | 26,642 |  |  | $ | 5,783 |  |  | $ | (15,540) |  |  | $ | 16,885 |
Capital investment | $ | 1,324 |  |  | $ | 9,984 |  |  | $ | — |  |  | $ | 11,308 |
Total assets | $ | 960,247 |  |  | $ | 766,761 |  |  | $ | 12,492 |  |  | $ | 1,739,500 |
(In thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 128,615 |  |  | $ | 54,909 |  |  | $ | — |  |  | $ | 183,524 |
Expenses | (27,102) |  |  | (20,724) |  |  | — |  |  | (47,826) |
Income from real estate | 101,513 |  |  | 34,185 |  |  | — |  |  | 135,698 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (32,162) |  |  | (32,162) |
Depreciation and amortization of deferred leasing costs | (21,300) |  |  | (15,599) |  |  | — |  |  | (36,899) |
General and administrative | — |  |  | — |  |  | (15,988) |  |  | (15,988) |
Loss on early extinguishment of debt | — |  |  | — |  |  | (648) |  |  | (648) |
Net income (loss) | $ | 80,213 |  |  | $ | 18,586 |  |  | $ | (48,798) |  |  | $ | 50,001 |
Capital investment | $ | 6,239 |  |  | $ | 78,270 |  |  | $ | — |  |  | $ | 84,509 |
Total assets | $ | 936,285 |  |  | $ | 855,797 |  |  | $ | 17,936 |  |  | $ | 1,810,018 |
Nine Months Ended September 30, 2021 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 126,935 |  |  | $ | 52,050 |  |  | $ | — |  |  | $ | 178,985 |
Expenses | (27,087) |  |  | (19,454) |  |  | — |  |  | (46,541) |
Income from real estate | 99,848 |  |  | 32,596 |  |  | — |  |  | 132,444 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (34,559) |  |  | (34,559) |
Depreciation and amortization of deferred leasing costs | (21,639) |  |  | (16,213) |  |  | — |  |  | (37,852) |
General and administrative | — |  |  | — |  |  | (14,234) |  |  | (14,234) |
Net income (loss) | $ | 78,209 |  |  | $ | 16,383 |  |  | $ | (48,793) |  |  | $ | 45,799 |
Capital investment | $ | 6,895 |  |  | $ | 31,893 |  |  | $ | — |  |  | $ | 38,788 |
Total assets | $ | 960,247 |  |  | $ | 766,761 |  |  | $ | 12,492 |  |  | $ | 1,739,500 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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