XML 44 R28.htm IDEA: XBRL DOCUMENT
v3.20.2

Combined Guarantor Subsidiaries - Revenues | 6 Months Ended
--- | ---
Jun. 30, 2020
Condensed Financial Statements Captions [Line Items] |
Revenues | Note 3 – Revenues Revenues The following table presents the Company's revenues disaggregated by revenue source:
|  | Three Months Ended June 30, 2020 |  |  | Three Months Ended June 30, 2019 |  |  | Six Months Ended June 30, 2020 |  |  | Six Months Ended June 30, 2019 |
Rental revenues (1) |  | $ | 120,222 |  |  | $ | 185,393 |  |  | $ | 281,395 |  |  | $ | 376,373 |
Revenues from contracts with customers (ASC 606): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expense reimbursements (2) |  |  | 2,103 |  |  |  | 2,061 |  |  |  | 4,492 |  |  |  | 4,204 |
Management, development and leasing fees (3) |  |  | 1,055 |  |  |  | 2,586 |  |  |  | 3,147 |  |  |  | 5,109 |
Marketing revenues (4) |  |  | 351 |  |  |  | 1,218 |  |  |  | 1,094 |  |  |  | 2,092 |
|  |  | 3,509 |  |  |  | 5,865 |  |  |  | 8,733 |  |  |  | 11,405 |
Other revenues |  |  | 480 |  |  |  | 2,119 |  |  |  | 1,657 |  |  |  | 3,629 |
Total revenues (5) |  | $ | 124,211 |  |  | $ | 193,377 |  |  | $ | 291,785 |  |  | $ | 391,407 |
(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. |
( 2 ) | Includes $2,024 in the Malls segment and $79 in the All Other segment for the three months ended June 30, 2020, and includes $1,892 in the Malls segment and $169 in the All Other segment for the three months ended June 30, 2019. Includes $4,345 in the Malls segment and $147 in the All Other segment for the six months ended June 30, 2020, and includes $4,084 in the Malls segment and $120 in the All Other segment for the six months ended June 30, 2019.
( 3 ) | Included in All Other segment.
( 4 ) | Marketing revenues solely relate to the Malls segment for all periods presented.
( 5 ) | Sales taxes are excluded from revenues.
See Note 10 for information on the Company's segments. Revenue from Contracts with Customers Expected credit losses During the three and six months ended June 30, 2020, the Company individually evaluated tenant receivables within the scope of ASC 606, of which a significant portion are short term. These receivables are assessed for collectability based on management’s best estimate of collection considering balances outstanding, historical collection levels and current economic trends. The Company recognized bad debt expense of $1,041 and $1,263 related to this class of receivables that were deemed uncollectable for the three and six months ended June 30, 2020, respectively. Outstanding Performance Obligations The Company has outstanding performance obligations related to certain noncancellable contracts with customers for which it will receive fixed operating expense reimbursements for providing certain maintenance and other services as described above. As of June 30, 2020, 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 |  | $ | 25,080 |  |  | $ | 52,220 |  |  | $ | 47,746 |  |  | $ | 125,046 |
The Company evaluates its performance obligations each period and makes adjustments to reflect any known additions or cancellations. Performance obligations related to variable consideration, which is based on sales, are constrained.
Guarantor Subsidiaries |
Condensed Financial Statements Captions [Line Items] |
Revenues | Note 3 – Revenues Revenues The following table presents the Combined Guarantor Subsidiaries' revenues disaggregated by revenue source:
|  |  |  |  |  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  |  |  |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Rental revenues (1) |  |  |  |  |  | $ | 46,849 |  |  | $ | 67,316 |  |  | $ | 110,680 |  |  | $ | 138,588 |
Revenues from contracts with customers (ASC 606): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expense reimbursements (2) |  |  |  |  |  |  | 882 |  |  |  | 693 |  |  |  | 1,953 |  |  |  | 1,844 |
Marketing revenues (3) |  |  |  |  |  |  | 196 |  |  |  | 549 |  |  |  | 586 |  |  |  | 986 |
|  |  |  |  |  |  | 1,078 |  |  |  | 1,242 |  |  |  | 2,539 |  |  |  | 2,830 |
Other revenues |  |  |  |  |  |  | 56 |  |  |  | 310 |  |  |  | 191 |  |  |  | 441 |
Total revenues (4) |  |  |  |  |  | $ | 47,983 |  |  | $ | 68,868 |  |  | $ | 113,410 |  |  | $ | 141,859 |
( 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.
( 2 ) | Operating expense reimbursements solely relate to the Malls segment for the three months ended June 30, 2020 and includes $688 in the Malls segment and $5 in the All Other segment for the three months ended June 30, 2019. Includes $1,928 in the Malls segment and $25 in the All Other segment for the six months ended June 30, 2020 and includes $1,839 in the Malls segment and $5 in the All Other segment for the six months ended June 30, 2019.
( 3 ) | Marketing revenues solely relate to the Malls segment for all periods presented.
( 4 ) | Sales taxes are excluded from revenues.
See Note 9 for information on the Combined Guarantor Subsidiaries' segments. Revenue from Contracts with Customers Expected credit losses During the three and six months ended June 30, 2020, the Combined Guarantor Subsidiaries individually evaluated tenant receivables within the scope of ASC 606, of which a significant portion are short term. These receivables are assessed for collectability based on management’s best estimate of collection considering balances outstanding, historical collection levels and current economic trends. The Combined Guarantor Subsidiaries wrote off $530 and $636 that was deemed uncollectable related to this class of receivables for the three and six months ended June 30, 2020, respectively. Outstanding Performance Obligations The Combined Guarantor Subsidiaries have outstanding performance obligations related to certain noncancellable contracts with customers for which they will receive fixed operating expense reimbursements for providing certain maintenance and other services as described above. As of June 30, 2020, 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 |  | $ | 12,839 |  |  | $ | 25,383 |  |  | $ | 33,641 |  |  | $ | 71,863 |
The Combined Guarantor Subsidiaries evaluate performance obligations each period and make adjustments to reflect any known additions or cancellations. Performance obligations related to variable consideration, which is based on sales, are constrained.

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | srt_CondensedFinancialStatementsCaptionsLineItems
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ConsolidatedEntitiesAxis=srt_GuarantorSubsidiariesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |