XML 33 R17.htm IDEA: XBRL DOCUMENT
v3.19.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2019
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company measures performance and allocates resources according to property type, which is determined based on certain criteria such as type of tenants, capital requirements, economic risks, leasing terms, and short and long-term returns on capital. Rental income and tenant reimbursements from tenant leases provide the majority of revenues from all segments. Information on the Company’s segments is presented as follows:
Three Months Ended June 30, 2019 |  | Malls |  | All Other (1) |  | Total
Revenues (2) |  | $ | 170,976 |  |  | $ | 22,401 |  |  | $ | 193,377 |
Property operating expenses (3) |  | (53,599 | ) |  | (3,379 | ) |  | (56,978 | )
Interest expense |  | (21,556 | ) |  | (30,926 | ) |  | (52,482 | )
Other expense |  | — |  |  | (34 | ) |  | (34 | )
Gain on sales of real estate assets |  | 2,478 |  |  | 3,049 |  |  | 5,527 |
Segment profit (loss) |  | $ | 98,299 |  |  | $ | (8,889 | ) |  | 89,410 |
Depreciation and amortization expense |  |  |  |  |  | (64,478 | )
General and administrative expense |  |  |  |  |  | (14,427 | )
Interest and other income |  |  |  |  |  | 356 |
Loss on impairment |  |  |  |  |  | (41,608 | )
Income tax provision |  |  |  |  |  | (813 | )
Equity in earnings of unconsolidated affiliates |  |  |  |  |  | 1,872 |
Net loss |  |  |  |  |  | $ | (29,688 | )
Capital expenditures (4) |  | $ | 31,560 |  |  | $ | 1,413 |  |  | $ | 32,973 |
Three Months Ended June 30, 2018 |  | Malls |  | All Other (1) |  | Total
Revenues (2) |  | $ | 195,942 |  |  | $ | 18,656 |  |  | $ | 214,598 |
Property operating expenses (3) |  | (57,940 | ) |  | (4,102 | ) |  | (62,042 | )
Interest expense |  | (25,962 | ) |  | (28,241 | ) |  | (54,203 | )
Other expense |  | (35 | ) |  | (210 | ) |  | (245 | )
Gain on sales of real estate assets |  | — |  |  | 3,747 |  |  | 3,747 |
Segment profit (loss) |  | $ | 112,005 |  |  | $ | (10,150 | ) |  | 101,855 |
Depreciation and amortization expense |  |  |  |  |  |  |  | (73,566 | )
General and administrative expense |  |  |  |  |  |  |  | (13,490 | )
Interest and other income |  |  |  |  |  |  |  | 218 |
Loss on impairment |  |  |  |  |  | (51,983 | )
Gain on investment |  |  |  |  |  | 387 |
Income tax benefit |  |  |  |  |  |  |  | 2,235 |
Equity in earnings of unconsolidated affiliates |  |  |  |  |  | 4,368 |
Net loss |  |  |  |  |  |  |  | $ | (29,976 | )
Capital expenditures (4) |  | $ | 32,779 |  |  | $ | 5,043 |  |  | $ | 37,822 |
Six Months Ended June 30, 2019 |  | Malls |  | All Other (1) |  | Total
Revenues (2) |  | $ | 354,840 |  |  | $ | 36,567 |  |  | $ | 391,407 |
Property operating expenses (3) |  | (110,780 | ) |  | (7,873 | ) |  | (118,653 | )
Interest expense |  | (44,746 | ) |  | (61,734 | ) |  | (106,480 | )
Other expense |  | — |  |  | (34 | ) |  | (34 | )
Gain on sales of real estate assets |  | 2,478 |  |  | 3,277 |  |  | 5,755 |
Segment profit (loss) |  | $ | 201,792 |  |  | $ | (29,797 | ) |  | 171,995 |
Depreciation and amortization expense |  |  |  |  |  | (134,270 | )
General and administrative expense |  |  |  |  |  | (36,434 | )
Litigation settlement expense |  |  |  |  |  | (88,150 | )
Interest and other income |  |  |  |  |  | 845 |
Gain on extinguishment of debt |  |  |  |  |  | 71,722 |
Loss on impairment |  |  |  |  |  | (66,433 | )
Income tax provision |  |  |  |  |  | (952 | )
Equity in earnings of unconsolidated affiliates |  |  |  |  |  | 5,180 |
Net loss |  |  |  |  |  | $ | (76,497 | )
Capital expenditures (4) |  | $ | 59,584 |  |  | $ | 1,528 |  |  | $ | 61,112 |
Six Months Ended June 30, 2018 |  | Malls |  | All Other (1) |  | Total
Revenues (2) |  | $ | 396,657 |  |  | $ | 38,141 |  |  | $ | 434,798 |
Property operating expenses (3) |  | (121,769 | ) |  | (8,126 | ) |  | (129,895 | )
Interest expense |  | (51,736 | ) |  | (56,234 | ) |  | (107,970 | )
Other expense |  | (84 | ) |  | (255 | ) |  | (339 | )
Gain on sales of real estate assets |  | — |  |  | 8,118 |  |  | 8,118 |
Segment profit (loss) |  | $ | 223,068 |  |  | $ | (18,356 | ) |  | 204,712 |
Depreciation and amortization expense |  |  |  |  |  | (145,316 | )
General and administrative expense |  |  |  |  |  | (31,794 | )
Interest and other income |  |  |  |  |  | 431 |
Loss on impairment |  |  |  |  |  | (70,044 | )
Gain on investment |  |  |  |  |  | 387 |
Income tax benefit |  |  |  |  |  | 2,880 |
Equity in earnings of unconsolidated affiliates |  |  |  |  |  | 8,107 |
Net loss |  |  |  |  |  | $ | (30,637 | )
Capital expenditures (4) |  | $ | 67,081 |  |  | $ | 7,392 |  |  | $ | 74,473 |
Total Assets |  | Malls |  | All Other (1) |  | Total
June 30, 2019 |  | $ | 4,610,847 |  |  | $ | 437,293 |  |  | $ | 5,048,140 |
December 31, 2018 |  | $ | 4,868,141 |  |  | $ | 472,712 |  |  | $ | 5,340,853 |
(1) | The All Other category includes associated centers, community centers, mortgage and other notes receivable, office buildings, self-storage facilities, corporate-level debt 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.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration