XML 65 R55.htm IDEA: XBRL DOCUMENT v3.22.1
Segment Information - Summary (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Total revenues [1] $ 140,102 $ 133,184  
Property operating expenses [2] (48,345) (49,134)  
Interest expense (90,659) (24,130)  
Gain (loss) on sales of real estate assets 16 (299)  
Segment profit (loss) 1,114 59,621  
Depreciation and amortization (68,943) (48,112)  
General and administrative (18,074) (12,612)  
Litigation settlement 81 858  
Interest and other income 155 776  
Gain on deconsolidation 36,250 55,131  
Reorganization items, net (1,571) (22,933)  
Loss on impairment   (57,182)  
Income tax provision (801) (751)  
Equity in earnings (losses) of unconsolidated affiliates 8,566 (3,076)  
Net loss (43,223) (28,280)  
Capital expenditures [3] 5,830 4,128  
Total Assets [4] 2,849,324   $ 2,945,979
Malls      
Segment Reporting Information [Line Items]      
Total revenues [1],[5] 121,428 119,328  
Property operating expenses [2],[5] (44,684) (45,595)  
Interest expense [5] (71,159) (23,170)  
Segment profit (loss) [5] 5,585 50,563  
Capital expenditures [3],[5] 3,960 3,491  
Total Assets [5] 1,860,718   1,961,061
All Other      
Segment Reporting Information [Line Items]      
Total revenues [1],[6] 18,674 13,856  
Property operating expenses [2],[6] (3,661) (3,539)  
Interest expense [6] (19,500) (960)  
Gain (loss) on sales of real estate assets [6] 16 (299)  
Segment profit (loss) [6] (4,471) 9,058  
Capital expenditures [3],[6] 1,870 $ 637  
Total Assets [6] $ 988,606   $ 984,918
[1] 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.
[2] Property operating expenses include property operating, real estate taxes and maintenance and repairs.
[3] Includes additions to and acquisitions of real estate assets and investments in unconsolidated affiliates. Developments in progress are included in the All Other category.
[4] As of March 31, 2022, includes $254,237 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $142,132 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 7.
[5] The Malls category includes malls, lifestyle centers and outlet centers.
[6] The All Other category includes open-air centers, outparcels, office buildings, self-storage facilities, corporate-level debt and the Management Company.