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Noncontrolling Interests | 12 Months Ended
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Dec. 31, 2023
Redeemable Noncontrolling Interests And Noncontrolling Interests [Abstract] |
Noncontrolling Interests | NOTE 10. NONCONTROLLING INTERESTS Noncontrolling Interests of the Company Third parties held rights to convert noncontrolling interests in the Operating Partnership to 5,298 and 10,283 shares of common stock at December 31, 2023 and 2022, respectively. The assets and liabilities allocated to the Operating Partnership’s noncontrolling interests are based on their ownership percentages of the Operating Partnership at December 31, 2023 and 2022. The ownership percentages are determined by dividing the number of common units held by each of the noncontrolling interests at December 31, 2023 and 2022 by the total common units outstanding at December 31, 2023 and 2022, respectively. The noncontrolling interest ownership percentage in assets and liabilities of the Successor Operating Partnership was 0.02% and 0.03% at December 31, 2023 and 2022, respectively. Income is allocated to the Operating Partnership’s noncontrolling interests based on their weighted-average ownership during the year. The ownership percentages are determined by dividing the weighted-average number of common units held by each of the noncontrolling interests by the total weighted-average number of common units outstanding during the year. A change in the number of shares of common stock or common units changes the percentage ownership of all partners of the Operating Partnership. A common unit is considered to be equivalent to a share of common stock since it generally is exchangeable for shares of the Company’s common stock or, at the Company’s election, their cash equivalent. As a result, an allocation is made between shareholders’ equity and noncontrolling interests in the Operating Partnership in the Company's accompanying balance sheets to reflect the change in ownership of the Operating Partnership’s underlying equity when there is a change in the number of shares and/or common units outstanding. During the period January 1, 2021 through October 31, 2021, the Predecessor Company allocated $865 from shareholders' equity to noncontrolling interest. During the period from January 1, 2021 through October 31, 2021, the Predecessor Company allocated $6 from shareholders' equity to redeemable noncontrolling interest. There is no redeemable noncontrolling interest related to the Successor Company. The total noncontrolling interest in the Successor Operating Partnership was $56 and $121 at December 31, 2023, and 2022 respectively. Noncontrolling Interests in Other Consolidated Subsidiaries The Successor Company had 10 and 11 other consolidated subsidiaries at December 31, 2023 and 2022, respectively, that had noncontrolling interests held by third parties and for which the related partnership agreements either do not include redemption provisions or are subject to redemption provisions that do not require classification outside of permanent equity. The total noncontrolling interests in other consolidated subsidiaries of the Successor Company was $(8,760) and $(3,533) at December 31, 2023 and 2022, respectively. The assets and liabilities allocated to noncontrolling interests in other consolidated subsidiaries of the Successor Company are based on the third parties’ ownership percentages in each subsidiary at December 31, 2023 and 2022, respectively. Income is allocated to noncontrolling interests in other consolidated subsidiaries based on the third parties’ weighted-average ownership in each subsidiary during the year. Variable Interest Entities (VIE) The Operating Partnership and certain of its subsidiaries are deemed to have the characteristics of a VIE primarily because the limited partners of these entities do not collectively possess substantive kick-out or participating rights. Generally, a VIE is a legal entity in which the equity investors do not have the characteristics of a controlling financial interest or the equity investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. A limited partnership is considered a VIE when the majority of the limited partners unrelated to the general partner possess neither the right to remove the general partner without cause, nor proportionate rights to participate in the decisions that most significantly affect the financial results of the partnership. The Company consolidates the Operating Partnership, which is a VIE, for which the Company is the primary beneficiary. The Company, through the Operating Partnership, consolidates all VIEs for which it is the primary beneficiary. In determining whether the Company is the primary beneficiary of a VIE, the Company considers qualitative and quantitative factors, including, but not limited to: which activities most significantly impact the VIE’s economic performance and which party controls such activities; the amount and characteristics of the Company's investment; the obligation or likelihood for the Company or other investors to provide financial support; and the similarity with and significance to the Company's business activities and the business activities of the other investors. The table below lists the Successor Company's consolidated VIEs as of December 31, 2023 and 2022, which does not reflect the elimination of any internal debt the consolidated VIE has with the Operating Partnership:
|  | As of December 31, |  |  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
Atlanta Outlet Outparcels, LLC |  | $ | 807 |  |  | $ | — |  |  | $ | 819 |  |  | $ | — |
CBL Terrace LP |  |  | 16,861 |  |  |  | 18,124 |  |  |  | 16,922 |  |  |  | 18,148 |
Gettysburg Outlet Center Holding, LLC |  |  | 11,847 |  |  |  | 18,446 |  |  |  | 13,360 |  |  |  | 16,039 |
Gettysburg Outlet Center, LLC |  |  | 2,940 |  |  |  | — |  |  |  | 3,058 |  |  |  | — |
Jarnigan Road LP |  |  | 14,202 |  |  |  | 19,869 |  |  |  | 17,437 |  |  |  | 1,300 |
Jarnigan Road II, LLC |  |  | 18,148 |  |  |  | 16,905 |  |  |  | 16,475 |  |  |  | 19,964 |
Laredo Outlet JV, LLC |  |  | 21,333 |  |  |  | 35,818 |  |  |  | 23,443 |  |  |  | 34,886 |
Lebcon Associates |  |  | 89,006 |  |  |  | 103,342 |  |  |  | 90,429 |  |  |  | 100,436 |
Lebcon I, Ltd |  |  | 11,539 |  |  |  | 12,146 |  |  |  | 11,756 |  |  |  | 12,128 |
Louisville Outlet Outparcels, LLC |  |  | 538 |  |  |  | — |  |  |  | 538 |  |  |  | — |
Statesboro Crossing, LLC |  |  | — |  |  |  | — |  |  |  | 797 |  |  |  | — |
|  | $ | 187,221 |  |  | $ | 224,650 |  |  | $ | 195,034 |  |  | $ | 202,901 |
The table below lists the Successor Company's unconsolidated VIEs as of December 31, 2023:
Unconsolidated VIEs: |  | Investment in Real Estate Joint Ventures and Partnerships |  |  | Maximum Risk of Loss |
Alamance Crossing CMBS, LLC (1) |  | $ | — |  |  | $ | — |
Ambassador Infrastructure, LLC (2) |  |  | — |  |  |  | 5,749 |
Atlanta Outlet JV, LLC |  |  | — |  |  |  | — |
BI Development, LLC |  |  | 127 |  |  |  | 127 |
BI Development II, LLC |  |  | 16 |  |  |  | 16 |
CBL-T/C, LLC |  |  | — |  |  |  | — |
CBL-TRS Med OFC Holding, LLC (3) |  |  | 1,279 |  |  |  | 1,362 |
El Paso Outlet Center Holding, LLC |  |  | — |  |  |  | — |
Fremaux Town Center JV, LLC |  |  | — |  |  |  | — |
Louisville Outlet Shoppes, LLC |  |  | — |  |  |  | — |
Mall of South Carolina L.P. |  |  | — |  |  |  | — |
Vision - CBL Hamilton Place, LLC |  |  | 2,185 |  |  |  | 2,185 |
Vision - CBL Mayfaire TC Hotel, LLC |  |  | 3,987 |  |  |  | 3,987 |
Westgate Mall CMBS, LLC (1) |  |  | — |  |  |  | — |
|  | $ | 7,594 |  |  | $ | 13,426 |
(1) During the year ended December 31, 2023, the property was placed into receivership. (2) The Operating Partnership has guaranteed all or a portion of the debt. See Note 14 for more information. (3) The Operating Partnership has guaranteed the construction debt of CBL DMC I, LLC, the joint venture in which CBL-TRS Med OFC Holding, LLC owns a 50% interest. See Note 14 for more information.

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- Definition Redeemable Noncontrolling Interests and Noncontrolling Interests [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//810/tableOfContent + Details
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