XML 50 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Information on Reportable Segments
Information on the Company’s reportable segments is presented as follows:
Three Months Ended March 31, 2018
 
Malls
 
All Other (1)
 
Total
Revenues (2)
 
$
200,715

 
$
19,485

 
$
220,200

Property operating expenses (3)
 
(63,829
)
 
(4,024
)
 
(67,853
)
Interest expense
 
(25,774
)
 
(27,993
)
 
(53,767
)
Other expense
 
(49
)
 
(45
)
 
(94
)
Gain on sales of real estate assets
 
—

 
4,371

 
4,371

Segment profit (loss)
 
$
111,063

 
$
(8,206
)
 
102,857

Depreciation and amortization expense
 
 
 
 
 
(71,750
)
General and administrative expense
 
 
 
 
 
(18,304
)
Interest and other income
 
 
 
 
 
213

Loss on impairment
 
 
 
 
 
(18,061
)
Income tax benefit
 
 
 
 
 
645

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
3,739

Net loss
 
 
 
 
 
$
(661
)
Capital expenditures (4)
 
$
34,302

 
$
2,349

 
$
36,651


Three Months Ended March 31, 2017
 
Malls
 
All Other (1)
 
Total
Revenues (2)
 
$
221,931

 
$
16,082

 
$
238,013

Property operating expenses (3)
 
(66,530
)
 
(3,819
)
 
(70,349
)
Interest expense
 
(33,245
)
 
(22,956
)
 
(56,201
)
Gain on sales of real estate assets
 
—

 
5,988

 
5,988

Segment profit (loss)
 
$
122,156

 
$
(4,705
)
 
117,451

Depreciation and amortization expense
 
 

 
 

 
(71,220
)
General and administrative expense
 
 

 
 

 
(16,082
)
Interest and other income
 
 

 
 

 
1,404

Gain on extinguishment of debt
 
 
 
 
 
4,055

Loss on impairment
 
 
 
 
 
(3,263
)
Income tax benefit
 
 

 
 

 
800

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
5,373

Net income
 
 

 
 

 
$
38,518

Capital expenditures (4)
 
$
40,696

 
$
3,160

 
$
43,856


Total Assets
 
Malls
 
All Other (1)
 
Total
March 31, 2018
 
$
5,148,195

 
$
554,375

 
$
5,702,570

 
 
 
 
 
 
 
December 31, 2017
 
$
5,152,789

 
$
552,019

 
$
5,704,808

 
 
 
 
 
 
 
(1)
The All Other category includes associated centers, community centers, mortgage and other notes receivable, office buildings and the Management Company.
(2)
Management, development and leasing fees are included in the All Other category. See Note 3 for information on the Company's revenues disaggregated by revenue source for each of the above segments.
(3)
Property operating expenses include property operating, real estate taxes and maintenance and repairs.
(4)
Amounts include acquisitions of real estate assets and investments in unconsolidated affiliates. Developments in progress are included in the All Other category.