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Combined Guarantor Subsidiaries - Revenues (Tables)

3 Months Ended

Mar. 31, 2019

Condensed Financial Statements, Captions [Line Items]

Schedule of Contract Assets and Liabilities

The Company has the following contract balances as of March 31, 2019:

			As of March 31, 2019				Expected Settlement Period
Description	Financial Statement Line Item						2019				2020				2021				2022				2023
Contract assets (1)	Management, development and leasing fees		$	175			$	(167	)		$	(3	)		$	(1	)		$	—			$	(4	)
Contract liability (2)	Other rents		261				(99		)		(54		)		(54		)		(54		)		—

(1) Represents leasing fees recognized as revenue in the period in which the lease is executed. Under third party and unconsolidated affiliates' contracts, the remaining 50% of the commissions are paid when the tenant opens. The tenant typically opens within a year, unless the project is in development.

(2) Relates to a contract in which the Company received advance payments in the initial year of the multi-year contract.

A summary of the Company's contract assets activity during the three months ended March 31, 2019 is presented below:

		Contract Assets
Balance as of December 31, 2018		$	289
Tenant openings		(139		)
Executed leases		25
Balance as of March 31, 2019		$	175

A summary of the Company's contract liability activity during the three months ended March 31, 2019 is presented below:

		Contract Liability
Balance as of December 31, 2018		$	265
Completed performance obligation		(4		)
Contract obligation		—
Balance as of March 31, 2019		$	261

Schedule of Disaggregation of Revenue

The following table presents the Company's revenues disaggregated by revenue source:

		Three Months Ended March 31, 2019				Three Months Ended March 31, 2018
Rental revenues (1)		$	190,980			$	212,729
Revenues from contracts with customers (ASC 606):
Operating expense reimbursements (2)		2,143				2,343
Management, development and leasing fees (3)		2,523				2,721
Marketing revenues (4)		874				1,295
		5,540				6,359
Other revenues		1,510				1,112
Total revenues		$	198,030			$	220,200

(1) Revenues from leases that commenced subsequent to December 31, 2018 are accounted for in accordance with ASC 842, Leases, whereas all leases existing prior to that date are accounted for in accordance with ASC 840, Leases. See Note 4.

(2) Includes $2,192 in the Malls segment and $(49) in the All Other segment for the three months ended March 31, 2019. Includes $2,190 in the Malls segment and $153 in the All Other segment for the three months ended March 31, 2018. See description below.

(3) Included in All Other segment.

(4) Includes $876 in the Malls segment and $(2) in the All Other segment for the three months ended March 31, 2019. Includes $1,294 in the Malls segment and $1 in the All Other segment for the three months ended March 31, 2018.

Schedule of Expected Recognition of Remaining Performance Obligation

As of March 31, 2019, the Company expects to recognize these amounts as revenue over the following periods:

Performance obligation		Less than 5 years				5-20 years				Over 20 years				Total
Fixed operating expense reimbursements		$	29,101			$	53,781			$	49,866			$	132,748

Guarantor Subsidiaries

Condensed Financial Statements, Captions [Line Items]

Schedule of Contract Assets and Liabilities

A summary of the Combined Guarantor Subsidiaries' contract liability activity during the three months ended March 31, 2019 is presented below:

		Contract Liability
Balance as of December 31, 2018		$	79
Completed performance obligation		—
Contract obligation		—
Balance as of March 31, 2019		$	79

The Combined Guarantor Subsidiaries have the following contract balances as of March 31, 2019:

			As of March 31, 2019			Expected Settlement Period
Description	Financial Statement Line Item					2019			2020			2021			2022
Contract liability (1)	Other rents		79			(19	)		(20	)		(20	)		(20	)

(1) Relates to a contract in which the Combined Guarantor Subsidiaries received advance payments in the initial year of the multi-year contract.

Schedule of Disaggregation of Revenue

The following table presents the Combined Guarantor Subsidiaries' revenues disaggregated by revenue source:

		Three Months Ended March 31, 2019				Three Months Ended March 31, 2018
Rental revenues (1)		$	71,272			$	78,706
Revenues from contracts with customers (ASC 606):
Operating expense reimbursements (2)		1,151				1,168
Marketing revenues (3)		437				508
		1,588				1,676
Other revenues		132				56
Total revenues		$	72,992			$	80,438

(1) Revenues from leases that commenced subsequent to December 31, 2018 are accounted for in accordance with ASC 842, Leases, whereas all leases existing prior to that date are accounted for in accordance with ASC 840, Leases. See Note 4.

(2) Includes $1,151 in the Malls segment for the three months ended March 31, 2019. Includes $1,168 in the Malls segment for the three months ended March 31, 2018. See description below.

(3) Includes $437 in the Malls segment for the three months ended March 31, 2019. Includes $508 in the Malls segment for the three months ended March 31, 2018.

Schedule of Expected Recognition of Remaining Performance Obligation

As of March 31, 2019, the Combined Guarantor Subsidiaries expect to recognize these amounts as revenue over the following periods:

Performance obligation		Less than 5 years				5-20 years				Over 20 years				Total
Fixed operating expense reimbursements		$	15,263			$	27,709			$	34,288			$	77,260

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