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Unconsolidated Affiliates and Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2022

Equity Method Investments And Joint Ventures [Abstract]

Schedule of Condensed Combined Financial Statement Information - Unconsolidated Affiliates

Condensed combined financial statement information of the unconsolidated affiliates are as follows:


	September 30, 2022			December 31, 2021
ASSETS:
Investment in real estate assets	$	1,986,409		$	2,364,154
Accumulated depreciation		(816,218	)		(934,374	)
		1,170,191			1,429,780
Developments in progress		8,802			7,288
Net investment in real estate assets		1,178,993			1,437,068
Other assets		192,930			188,683
Total assets	$	1,371,923		$	1,625,751
LIABILITIES:
Mortgage and other indebtedness, net	$	1,403,629		$	1,452,794
Other liabilities		52,707			64,598
Total liabilities		1,456,336			1,517,392
OWNERS' EQUITY:
The Company		2,541			102,792
Other investors		(86,954	)		5,567
Total owners' equity (deficit)		(84,413	)		108,359
Total liabilities and owners’ equity	$	1,371,923		$	1,625,751


.	Three Months Ended September 30,		Three Months Ended September 30,
	2022		2021
Total revenues	$	64,656	$	65,482
Net income (loss) (1)	$	48,316	$	(3,206	)


	Nine Months Ended September 30,		Nine Months Ended September 30,
	2022		2021
Total revenues	$	193,944	$	181,985
Net income (loss) (1)	$	81,378	$	(16,225	)

(1)

The Successor Company's pro rata share of net income was $5,702 and $16,308 for the three and nine months ended September 30, 2022, respectively. The Predecessor Company’s pro rata share of net loss was $(2,224) and $(9,575) for the three and nine months ended September 30, 2021, respectively.

Schedule of Variable Interest Entities

The table below lists the Company's unconsolidated VIEs as of September 30, 2022:


Unconsolidated VIEs:	Investment in Real Estate Joint Ventures and Partnerships		Maximum Risk of Loss
Ambassador Infrastructure, LLC (1)	$	—	$	7,001
Atlanta Outlet JV, LLC (1)		—		4,388
BI Development, LLC		54		54
BI Development II, LLC		54		54
CBL-T/C, LLC		—		—
El Paso Outlet Center Holding, LLC		—		—
Fremaux Town Center JV, LLC		1,597		1,597
Greenbrier Mall II, LLC (2)		—		—
Louisville Outlet Shoppes, LLC (1)		—		7,647
Mall of South Carolina L.P.		—		—
Vision - CBL Hamilton Place, LLC		2,375		2,375
	$	4,080	$	23,116

(1)

The Operating Partnership has guaranteed all or a portion of the debt of each of these VIEs. See Note 12 for more information.

(2)

During the nine months ended September 30, 2022, the property was placed into receivership. Subsequent to September 30, 2022, the lender foreclosed on the loan. See Note 16.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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