Three Months Ended March 31, 2023

Malls (1)

All
Other (2)

Total

Revenues (3)

$

115,883

$

20,476

$

136,359

Property operating expenses (4)

(46,871

)

(4,055

)

(50,926

)

Interest expense

(20,483

)

(23,041

)

(43,524

)

Gain on sales of real estate assets

—

1,596

1,596

Other expense

—

(198

)

(198

)

Segment profit (loss)

$

48,529

$

(5,222

)

43,307

Depreciation and amortization

(53,269

)

General and administrative

(19,229

)

Litigation settlement

44

Interest and other income

2,665

Gain on deconsolidation

28,151

Income tax benefit

101

Equity in losses of unconsolidated affiliates

(1,256

)

Net income

$

514

Capital expenditures (5)

$

4,433

$

3,102

$

7,535

Three Months Ended March 31, 2022

Malls (1)

All
Other (2)

Total

Revenues (3)

$

121,428

$

18,674

$

140,102

Property operating expenses (4)

(44,684

)

(3,661

)

(48,345

)

Interest expense

(71,159

)

(19,500

)

(90,659

)

Gain on sales of real estate assets

—

16

16

Segment profit (loss)

$

5,585

$

(4,471

)

1,114

Depreciation and amortization

(68,943

)

General and administrative expense

(18,074

)

Litigation settlement

81

Interest and other income

155

Gain on deconsolidation

36,250

Reorganization items, net

(1,571

)

Income tax provision

(801

)

Equity in earnings of unconsolidated affiliates

8,566

Net loss

$

(43,223

)

Capital expenditures (5)

$

3,960

$

1,870

$

5,830