Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Information on the Company’s segments is presented as follows:

Three Months Ended June 30, 2021	Malls			All Other ⁽¹⁾			Total
Revenues ⁽²⁾	$	125,504		$	11,057		$	136,561
Property operating expenses ⁽³⁾		(41,132	)		(2,385	)		(43,517	)
Interest expense		(21,584	)		(715	)		(22,299	)
Gain on sales of real estate assets		—			107			107
Other expense		(64	)		(223	)		(287	)
Segment profit	$	62,724		$	7,841			70,565
Depreciation and amortization								(47,499	)
General and administrative expense								(11,269	)
Litigation settlement								(57	)
Interest and other income								752
Reorganization items								(17,073	)
Income tax provision								(705	)
Equity in losses of unconsolidated affiliates								(4,275	)
Net loss							$	(9,561	)
Capital expenditures ⁽⁴⁾	$	10,308		$	1,979		$	12,287



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 losses of unconsolidated affiliates								(6,079	)
Net loss							$	(72,793	)
Capital expenditures ⁽⁴⁾	$	9,754		$	1,377		$	11,131

Six Months Ended June 30, 2021	Malls			All Other ⁽¹⁾			Total
Revenues ⁽²⁾	$	244,832		$	24,913		$	269,745
Property operating expenses ⁽³⁾		(86,727	)		(5,924	)		(92,651	)
Interest expense		(44,754	)		(1,675	)		(46,429	)
Other expense		(64	)		(223	)		(287	)
Loss on sales of real estate assets		—			(192	)		(192	)
Segment profit	$	113,287		$	16,899			130,186
Depreciation and amortization								(95,611	)
General and administrative expense								(23,881	)
Litigation settlement								801
Interest and other income								1,528
Reorganization items								(40,006	)
Loss on impairment								(57,182	)
Gain on deconsolidation								55,131
Income tax provision								(1,456	)
Equity in losses of unconsolidated affiliates								(7,351	)
Net loss							$	(37,841	)
Capital expenditures ⁽⁴⁾	$	13,799		$	2,616		$	16,415


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	)
Interest and other income								3,288
Loss on impairment								(146,918	)
Income tax provision								(16,643	)
Equity in losses of unconsolidated affiliates								(5,061	)
Net loss							$	(212,087	)
Capital expenditures ⁽⁴⁾	$	27,810		$	3,653		$	31,463

(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 4 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.