SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Information on Reportable Segments

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.