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Revenues
 3 Months Ended
Mar. 31, 2021
Revenue From Contract With Customer [Abstract]  
Revenues

Note 4 – Revenues

Revenues

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

 

 

 

Three Months Ended March 31, 2021

 

 

Three Months Ended March 31, 2020

 

Rental revenues (1)

 

$

128,175

 

 

$

161,173

 

Revenues from contracts with customers (ASC 606):

 

 

 

 

 

 

 

 

Operating expense reimbursements (2)

 

 

2,156

 

 

 

2,389

 

Management, development and leasing fees (3)

 

 

1,659

 

 

 

2,092

 

Marketing revenues (4)

 

 

301

 

 

 

743

 

 

 

 

4,116

 

 

 

5,224

 

 

 

 

 

 

 

 

 

 

Other revenues

 

 

893

 

 

 

1,177

 

Total revenues (5)

 

$

133,184

 

 

$

167,574

 

(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 $2,069 in the Malls segment and $87 in the All Other segment for the three months ended March 31, 2021, and includes $2,321 in the Malls segment and $68 in the All Other segment for the three months ended March 31, 2020.

(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.

Revenues from Contracts with Customers

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 March 31, 2021, 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

 

$

24,292

 

 

$

49,420

 

 

$

45,113

 

 

$

118,825

 

 

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.