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Revenues (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

A summary of the Company's contract assets activity during the six months ended June 30, 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
Tenant openings	(139		)
Executed leases	190
Balance as of June 30, 2019	$	226

A summary of the Company's contract liability activity during the six months ended June 30, 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
Completed performance obligation	—
Contract obligation	—
Balance as of June 30, 2019	$	261

The Company has the following contract balances as of June 30, 2019:



		As of June 30, 2019		Expected Settlement Period
Description	Financial Statement Line Item	As of June 30, 2019		2019 ⁽¹⁾			2020			2021			2022			2023
Contract assets ⁽²⁾	Management, development and leasing fees	$	226	$	(155	)	$	(25	)	$	(42	)	$	—		$	(4	)
Contract liability ⁽³⁾	Other rents	261		(99		)	(54		)	(54		)	(54		)	—


(1)	Reflects fiscal period July 1, 2019 through December 31, 2019.


(2)	Represents leasing fees recognized as revenue in the period in which the lease is executed. Under certain 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.

(3)

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

Schedule of Disaggregation of Revenue

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



	Three Months Ended June 30, 2019		Three Months Ended June 30, 2018		Six Months Ended June 30, 2019		Six Months Ended June 30, 2018
Rental revenues ⁽¹⁾	$	185,393	$	207,568	$	376,373	$	420,297
Revenues from contracts with customers (ASC 606):
Operating expense reimbursements ⁽²⁾	2,061		2,168		4,204		4,511
Management, development and leasing fees ⁽³⁾	2,586		2,643		5,109		5,364
Marketing revenues ⁽⁴⁾	1,218		928		2,092		2,223
	5,865		5,739		11,405		12,098

Other revenues	2,119		1,291		3,629		2,403
Total revenues ⁽⁵⁾	$	193,377	$	214,598	$	391,407	$	434,798


(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 $1,892 in the Malls segment and $169 in the All Other segment for the three months ended June 30, 2019, and includes $2,083 in the Malls segment and $85 in the All Other segment for the three months ended June 30, 2018. Includes $4,084 in the Malls segment and $120 in the All Other segment for the six months ended June 30, 2019, and includes $4,273 in the Malls segment and $238 in the All Other segment for the six months ended June 30, 2018.


(3)	Included in All Other segment.

(4)

Includes $1,217 in the Malls segment and $1 in the All Other segment for the three months ended June 30, 2019, and includes $927 in the Malls segment and $1 in the All Other segment for the three months ended June 30, 2018. Includes $2,093 in the Malls segment and $(1) in the All Other segment for the six months ended June 30, 2019, and includes $2,221 in the Malls segment and $2 in the All Other segment for the six months ended June 30, 2018. See description below.

(5)

Sales taxes are excluded from revenues.

Schedule of Expected Recognition of Remaining Performance Obligation

As of June 30, 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	$	25,233	$	48,825	$	48,226	$	122,284