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Combined Guarantor Subsidiaries - Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2020
Condensed Financial Statements Captions [Line Items] |
Schedule of Information on Reportable Segments | Information on the Company’s segments is presented as follows:
Three Months Ended June 30, 2020 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues (2) |  | $ | 112,002 |  |  | $ | 12,209 |  |  | $ | 124,211 |
Property operating expenses (3) |  |  | ( 38,385 | ) |  |  | ( 2,400 | ) |  |  | ( 40,785 | )
Interest expense |  |  | ( 18,960 | ) |  |  | ( 33,671 | ) |  |  | ( 52,631 | )
Other expense |  |  | — |  |  |  | ( 242 | ) |  |  | ( 242 | )
Gain on sales of real estate assets |  |  | — |  |  |  | 2,623 |  |  |  | 2,623 |
Segment profit (loss) |  | $ | 54,657 |  |  | $ | ( 21,481 | ) |  |  | 33,176 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  | ( 52,663 | )
General and administrative expense |  |  |  |  |  |  |  |  |  |  | ( 18,727 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 891 |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 13,274 | )
Income tax provision |  |  |  |  |  |  |  |  |  |  | ( 16,117 | )
Equity in earnings (losses) of unconsolidated affiliates |  |  |  |  |  |  |  |  |  |  | ( 6,079 | )
Net loss |  |  |  |  |  |  |  |  |  | $ | ( 72,793 | )
Capital expenditures (4) |  | $ | 9,754 |  |  | $ | 1,377 |  |  | $ | 11,131 |
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 |  |  |  |  |  |  |  |  |  |  | ( 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 (losses) of unconsolidated affiliates |  |  |  |  |  |  |  |  |  |  | 1,872 |
Net loss |  |  |  |  |  |  |  |  |  | $ | ( 29,688 | )
Capital expenditures (4) |  | $ | 31,560 |  |  | $ | 1,413 |  |  | $ | 32,973 |
Six Months Ended June 30, 2020 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues (2) |  | $ | 265,353 |  |  | $ | 26,432 |  |  | $ | 291,785 |
Property operating expenses (3) |  |  | ( 90,483 | ) |  |  | ( 5,667 | ) |  |  | ( 96,150 | )
Interest expense |  |  | ( 37,107 | ) |  |  | ( 62,516 | ) |  |  | ( 99,623 | )
Other expense |  |  | — |  |  |  | ( 400 | ) |  |  | ( 400 | )
Gain (loss) on sales of real estate assets |  |  | ( 25 | ) |  |  | 2,788 |  |  |  | 2,763 |
Segment profit (loss) |  | $ | 137,738 |  |  | $ | ( 39,363 | ) |  |  | 98,375 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  | ( 108,565 | )
General and administrative expense |  |  |  |  |  |  |  |  |  |  | ( 36,563 | )
Litigation settlement |  |  |  |  |  |  |  |  |  |  | — |
Interest and other income |  |  |  |  |  |  |  |  |  |  | 3,288 |
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  | — |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 146,918 | )
Income tax provision |  |  |  |  |  |  |  |  |  |  | ( 16,643 | )
Equity in earnings (losses) of unconsolidated affiliates |  |  |  |  |  |  |  |  |  |  | ( 5,061 | )
Net loss |  |  |  |  |  |  |  |  |  | $ | ( 212,087 | )
Capital expenditures (4) |  | $ | 27,810 |  |  | $ | 3,653 |  |  | $ | 31,463 |
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 |  |  |  |  |  |  |  |  |  |  | ( 134,270 | )
General and administrative expense |  |  |  |  |  |  |  |  |  |  | ( 36,434 | )
Litigation settlement |  |  |  |  |  |  |  |  |  |  | ( 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 (losses) of unconsolidated affiliates |  |  |  |  |  |  |  |  |  |  | 5,180 |
Net loss |  |  |  |  |  |  |  |  |  | $ | ( 76,497 | )
Capital expenditures (4) |  | $ | 59,584 |  |  | $ | 1,528 |  |  | $ | 61,112 |
Total Assets |  | Malls |  |  | All Other (1) |  |  | Total |
June 30, 2020 |  | $ | 3,994,951 |  |  | $ | 660,208 |  |  | $ | 4,655,159 |
December 31, 2019 |  | $ | 4,180,515 |  |  | $ | 441,831 |  |  | $ | 4,622,346 |
(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) | 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] |
Schedule of Information on Reportable Segments | Information on the Combined Guarantor Subsidiaries' segments is presented as follows:
Three Months Ended June 30, 2020 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues |  | $ | 45,941 |  |  | $ | 2,042 |  |  | $ | 47,983 |
Property operating expenses (2) |  |  | ( 15,329 | ) |  |  | ( 428 | ) |  |  | ( 15,757 | )
Interest expense |  |  | ( 4,334 | ) |  |  | — |  |  |  | ( 4,334 | )
Gain on sales of real estate assets |  |  | 650 |  |  |  | — |  |  |  | 650 |
Segment profit |  | $ | 26,928 |  |  | $ | 1,614 |  |  |  | 28,542 |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  | ( 21,437 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 952 |
Net income |  |  |  |  |  |  |  |  |  | $ | 8,057 |
Capital expenditures (3) |  | $ | 4,312 |  |  | $ | 34 |  |  | $ | 4,346 |
Three Months Ended June 30, 2019 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues |  | $ | 66,403 |  |  | $ | 2,465 |  |  | $ | 68,868 |
Property operating expenses (2) |  |  | ( 19,840 | ) |  |  | ( 581 | ) |  |  | ( 20,421 | )
Interest expense |  |  | ( 3,412 | ) |  |  | — |  |  |  | ( 3,412 | )
Other expense |  |  | ( 627 | ) |  |  | — |  |  |  | ( 627 | )
Segment profit |  | $ | 42,524 |  |  | $ | 1,884 |  |  |  | 44,408 |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  | ( 22,717 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 1,084 |
Net income |  |  |  |  |  |  |  |  |  | $ | 22,775 |
Capital expenditures (3) |  | $ | 15,911 |  |  | $ | 23 |  |  | $ | 15,934 |
Six Months Ended June 30, 2020 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues |  | $ | 108,985 |  |  | $ | 4,425 |  |  | $ | 113,410 |
Property operating expenses (2) |  |  | ( 36,719 | ) |  |  | ( 1,034 | ) |  |  | ( 37,753 | )
Interest expense |  |  | ( 8,106 | ) |  |  | — |  |  |  | ( 8,106 | )
Gain on sales of real estate assets |  |  | 650 |  |  |  | — |  |  |  | 650 |
Segment profit |  | $ | 64,810 |  |  | $ | 3,391 |  |  |  | 68,201 |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  | ( 43,301 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 1,992 |
Net income |  |  |  |  |  |  |  |  |  | $ | 26,892 |
Capital expenditures (3) |  | $ | 11,615 |  |  | $ | 659 |  |  | $ | 12,274 |
Six Months Ended June 30, 2019 |  | Malls |  |  | All Other (1) |  |  | Total |
Revenues |  | $ | 136,803 |  |  | $ | 5,056 |  |  | $ | 141,859 |
Property operating expenses (2) |  |  | ( 42,009 | ) |  |  | ( 1,177 | ) |  |  | ( 43,186 | )
Interest expense |  |  | ( 7,397 | ) |  |  | — |  |  |  | ( 7,397 | )
Other expense |  |  | ( 627 | ) |  |  | — |  |  |  | ( 627 | )
Segment profit |  | $ | 86,770 |  |  | $ | 3,879 |  |  |  | 90,649 |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  | ( 46,818 | )
Interest and other income |  |  |  |  |  |  |  |  |  |  | 2,027 |
Gain on extinguishment of debt |  |  |  |  |  |  |  |  |  |  | 61,796 |
Loss on impairment |  |  |  |  |  |  |  |  |  |  | ( 22,770 | )
Net income |  |  |  |  |  |  |  |  |  | $ | 84,884 |
Capital expenditures (3) |  | $ | 18,529 |  |  | $ | 23 |  |  | $ | 18,552 |
Total Assets |  | Malls |  |  | All Other (1) |  |  | Total |
June 30, 2020 |  | $ | 1,505,640 |  |  | $ | 136,571 |  |  | $ | 1,642,211 |
December 31, 2019 |  | $ | 1,519,558 |  |  | $ | 137,555 |  |  | $ | 1,657,113 |
(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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