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Combined Guarantor Subsidiaries - Segment Information | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Statements Captions [Line Items] |
Segment Information | NOTE 12. 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. The accounting policies of the reportable segments are the same as those described in Note 2 . Information on the Company’s reportable segments is presented as follows:
Year Ended December 31, 2019 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues (2) |  | $ | 699,698 |  |  | $ | 68,998 |  |  | $ | 768,696 |
Property operating expenses (3) |  |  | ( 216,771 | ) |  |  | ( 13,881 | ) |  |  | ( 230,652 | )
Interest expense |  |  | ( 86,152 | ) |  |  | ( 120,109 | ) |  |  | ( 206,261 | )
Other expense |  |  | — |  |  |  | ( 91 | ) |  |  | ( 91 | )
Gain on sales of real estate assets |  |  | 1,226 |  |  |  | 15,048 |  |  |  | 16,274 |
Segment profit (loss) |  | $ | 398,001 |  |  | $ | ( 50,035 | ) |  |  | 347,966 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  | ( 257,746 | )
General and administrative expense |  |  |  |  |  |  |  |  |  |  | ( 64,181 | )
Litigation settlement |  |  |  |  |  |  |  |  |  |  | ( 61,754 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 2,764 |
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  | 71,722 |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 239,521 | )
Gain on investments/deconsolidation |  |  |  |  |  |  |  |  |  |  | 67,242 |
Income tax provision |  |  |  |  |  |  |  |  |  |  | ( 3,153 | )
Equity in earnings of unconsolidated affiliates |  |  |  |  |  |  |  |  |  |  | 4,940 |
Net loss |  |  |  |  |  |  |  |  |  | $ | ( 131,721 | )
Total assets |  | $ | 4,180,515 |  |  | $ | 441,831 |  |  | $ | 4,622,346 |
Capital expenditures (4) |  | $ | 130,502 |  |  | $ | 11,057 |  |  | $ | 141,559 |
Year Ended December 31, 2018 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues (2) |  | $ | 783,194 |  |  | $ | 75,363 |  |  | $ | 858,557 |
Property operating expenses (3) |  |  | ( 236,807 | ) |  |  | ( 15,805 | ) |  |  | ( 252,612 | )
Interest expense |  |  | ( 103,162 | ) |  |  | ( 116,876 | ) |  |  | ( 220,038 | )
Other expense |  |  | ( 85 | ) |  |  | ( 702 | ) |  |  | ( 787 | )
Gain on sales of real estate assets |  |  | 799 |  |  |  | 18,202 |  |  |  | 19,001 |
Segment profit (loss) |  | $ | 443,939 |  |  | $ | ( 39,818 | ) |  |  | 404,121 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  | ( 285,401 | )
General and administrative expense |  |  |  |  |  |  |  |  |  |  | ( 61,506 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 1,858 |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 174,529 | )
Income tax benefit |  |  |  |  |  |  |  |  |  |  | 1,551 |
Equity in earnings of unconsolidated affiliates |  |  |  |  |  |  |  |  |  |  | 14,677 |
Net loss |  |  |  |  |  |  |  |  |  | $ | ( 99,229 | )
Total assets |  | $ | 4,868,141 |  |  | $ | 472,712 |  |  | $ | 5,340,853 |
Capital expenditures (4) |  | $ | 132,187 |  |  | $ | 12,772 |  |  | $ | 144,959 |
Year Ended December 31, 2017 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues (2) |  | $ | 847,979 |  |  | $ | 79,273 |  |  | $ | 927,252 |
Property operating expenses (3) |  |  | ( 244,282 | ) |  |  | ( 16,271 | ) |  |  | ( 260,553 | )
Interest expense |  |  | ( 120,414 | ) |  |  | ( 98,266 | ) |  |  | ( 218,680 | )
Other expense |  |  | — |  |  |  | ( 5,180 | ) |  |  | ( 5,180 | )
Gain on sales of real estate assets |  |  | 75,980 |  |  |  | 17,812 |  |  |  | 93,792 |
Segment profit (loss) |  | $ | 559,263 |  |  | $ | ( 22,632 | ) |  |  | 536,631 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  | ( 299,090 | )
General and administrative expense |  |  |  |  |  |  |  |  |  |  | ( 58,466 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 1,706 |
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  | 30,927 |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 71,401 | )
Loss on investment |  |  |  |  |  |  |  |  |  |  | ( 6,197 | )
Equity in earnings of unconsolidated affiliates |  |  |  |  |  |  |  |  |  |  | 22,939 |
Net income before income tax benefit |  |  |  |  |  |  |  |  |  | $ | 157,049 |
(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 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 ) | Includes additions to and acquisitions of real estate assets and investments in unconsolidated affiliates. Developments in progress are included in the All Other category.
Guarantor Subsidiaries |
Condensed Financial Statements Captions [Line Items] |
Segment Information | Note 11 – Segment Information The Combined Guarantor Subsidiaries measure performance and allocate 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. The accounting policies of the reportable segments are the same as those described in Note 2 . Information on the Combined Guarantor Subsidiaries' segments is presented as follows:
Year Ended December 31, 2019 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues |  | $ | 274,772 |  |  | $ | 10,218 |  |  | $ | 284,990 |
Property operating expenses (2) |  |  | ( 84,273 | ) |  |  | ( 2,177 | ) |  |  | ( 86,450 | )
Interest expense |  |  | ( 15,246 | ) |  |  | — |  |  |  | ( 15,246 | )
Other expense |  |  | ( 638 | ) |  |  | ( 2 | ) |  |  | ( 640 | )
Gain on sales of real estate assets |  |  | 22 |  |  |  | — |  |  |  | 22 |
Segment profit |  | $ | 174,637 |  |  | $ | 8,039 |  |  |  | 182,676 |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  | ( 94,221 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 4,078 |
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  | 61,796 |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 60,170 | )
Net income |  |  |  |  |  |  |  |  |  | $ | 94,159 |
Capital expenditures (3) |  | $ | 37,120 |  |  | $ | 864 |  |  | $ | 37,984 |
Year Ended December 31, 2018 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues |  | $ | 308,193 |  |  | $ | 10,732 |  |  | $ | 318,925 |
Property operating expenses (2) |  |  | ( 90,047 | ) |  |  | ( 2,633 | ) |  |  | ( 92,680 | )
Interest expense |  |  | ( 24,668 | ) |  |  | — |  |  |  | ( 24,668 | )
Other expense |  |  | ( 41 | ) |  |  | — |  |  |  | ( 41 | )
Gain on sales of real estate assets |  |  | 2,406 |  |  |  | — |  |  |  | 2,406 |
Segment profit |  | $ | 195,843 |  |  | $ | 8,099 |  |  |  | 203,942 |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  | ( 97,929 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 7,038 |
Net income |  |  |  |  |  |  |  |  |  | $ | 113,051 |
Capital expenditures (3) |  | $ | 35,966 |  |  | $ | 611 |  |  | $ | 36,577 |
Year Ended December 31, 2017 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues |  | $ | 333,247 |  |  | $ | 10,810 |  |  | $ | 344,057 |
Property operating expenses (2) |  |  | ( 92,932 | ) |  |  | ( 2,480 | ) |  |  | ( 95,412 | )
Interest expense |  |  | ( 39,408 | ) |  |  | ( 11 | ) |  |  | ( 39,419 | )
Other expense |  |  | ( 7 | ) |  |  | ( 1 | ) |  |  | ( 8 | )
Gain on sales of real estate assets |  |  | 38,247 |  |  |  | — |  |  |  | 38,247 |
Segment profit |  | $ | 239,147 |  |  | $ | 8,318 |  |  |  | 247,465 |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  | ( 106,836 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 5,485 |
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  | 28,815 |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 43,007 | )
Net income |  |  |  |  |  |  |  |  |  | $ | 131,922 |
Capital expenditures (3) |  | $ | 78,865 |  |  | $ | 157 |  |  | $ | 79,022 |
Total Assets |  | Malls |  |  | All Other (1) |  |  | Total |
December 31, 2019 |  | $ | 1,519,558 |  |  | $ | 137,555 |  |  | $ | 1,657,113 |
December 31, 2018 |  | $ | 1,697,211 |  |  | $ | 144,649 |  |  | $ | 1,841,860 |
(1) | The All Other category includes associated centers and notes receivable.
(2) | Property operating expenses include property operating, real estate taxes and maintenance and repairs.
(3) | Amounts include acquisitions of real estate assets. Developments in progress are included in the All Other category.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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