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Share-Based Compensation - Summary (Details) - USD ($)
1 Months Ended 2 Months Ended 10 Months Ended 12 Months Ended
Feb. 17, 2023
Feb. 16, 2022
Jan. 31, 2024
Feb. 28, 2023
Jan. 31, 2023
Feb. 28, 2022
Dec. 31, 2021
Oct. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Number of shares authorized (shares)                 10,400,000        
Weighted-Average Grant Date Fair Value                          
Share-based compensation cost capitalized as part of real estate assets               $ 10,000          
Performance Stock Unit Awards                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (shares)                 157,789     3,408,083 [1] 1,103,537 [2]
Share-based compensation cost               $ 315,000 $ 5,639,000 $ 4,485,000      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]                          
Nonvested, beginning of period (shares)     563,581   607,128     1,103,537 607,128   1,103,537    
Granted (shares)                 157,789     3,408,083 [1] 1,103,537 [2]
Incremental granted (shares) [3]                 47,432        
Vested (shares)                 (197,749)        
Forfeited (shares)               (1,103,537) [4] (51,019)     (3,408,083) [5]  
Nonvested, end of period (shares)                 563,581 607,128   1,103,537  
Weighted-Average Grant Date Fair Value                          
Weighted average grant-date fair value, nonvested, beginning of period (USD per share)     $ 28.65   $ 24.69     $ 2.40 $ 24.69   $ 2.40    
Weighted average grant-date fair value, granted (USD per share)                 $ 38.79     $ 0.84 [1] $ 2.40 [2]
Weighted average incremental grant-date fair value, granted (USD per share) [3]                 23        
Weighted average grant-date fair value, vested (USD per share)                 $ 24.75        
Weighted average grant-date fair value, forfeited (USD per share)               $ 2.40 [4] 24.87     0.84 [5]  
Weighted average grant-date fair value, nonvested, ending of period (USD per share) $ 38.79 [6] $ 24.67 [6]             $ 28.65 $ 24.69   $ 2.40  
Vested (shares)                 (197,749)        
Unrecognized compensation cost related to nonvested stock awards                 $ 12,807,000        
Compensation cost to be recognized over a weighted-average period                 2 years 4 months 24 days        
Shares granted in period classified as liabilities (shares)                       1,247,098 566,862
weighted-average grant date fair value $ 38.79 [6] $ 24.67 [6]             $ 28.65 $ 24.69   $ 2.40  
Risk-free interest rate (as a percent) [7] 4.37% 1.85%                      
Expected share price volatility (as a percent) [8] 62.50% 65.00%                      
Performance period 3 years         4 years              
Pecentage of shares issued based on achievement of long term relative TSR performance       40.00%                  
Percentage of shares issued based on achievement of TSR performance       60.00%                  
Performance Stock Unit Awards | Chief Executive Officer                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (shares) 63,114                        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]                          
Granted (shares) 63,114                        
Weighted-Average Grant Date Fair Value                          
Weighted average grant-date fair value, nonvested, ending of period (USD per share) $ 40.64                        
weighted-average grant date fair value $ 40.64                        
Performance Stock Unit Awards | Officer                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (shares) 94,675                        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]                          
Granted (shares) 94,675                        
Weighted-Average Grant Date Fair Value                          
Weighted average grant-date fair value, nonvested, ending of period (USD per share) $ 37.55                        
weighted-average grant date fair value $ 37.55                        
2021 Equity Incentive Plan                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Number of shares authorized (shares)                 3,222,222        
Increase in number of shares authorised         953,403                
Shares available under the EIP                 3,120,492        
Percentage released stock awards granted                 3.00%        
Restricted Stock Awards                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Granted (shares)                 387,568        
Vesting rate               25.00%          
Share-based compensation cost             $ 299,000 $ 863,000 $ 7,343,000 $ 7,400,000      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]                          
Nonvested, beginning of period (shares)     590,953   662,875     1,519,774 662,875   1,519,774    
Granted (shares)                 387,568        
Vested (shares)               (1,490,751) (446,710)        
Forfeited (shares)               (29,023) (12,780)        
Nonvested, end of period (shares)                 590,953 662,875   1,519,774  
Weighted-Average Grant Date Fair Value                          
Weighted average grant-date fair value, nonvested, beginning of period (USD per share)     $ 27.02   $ 27.42     $ 2.15 $ 27.42   $ 2.15    
Weighted average grant-date fair value, granted (USD per share)                 26.03        
Weighted average grant-date fair value, vested (USD per share)               2.14 26.78        
Weighted average grant-date fair value, forfeited (USD per share)               $ 2.73 26.13        
Weighted average grant-date fair value, nonvested, ending of period (USD per share)                 $ 27.02 $ 27.42   $ 2.15  
Weighted average grant-date fair value, granted             21,642,000   $ 10,086,000 $ 3,095,000      
Vested (shares)               (1,490,751) (446,710)        
Unrecognized compensation cost related to nonvested stock awards                 $ 13,577,000        
Compensation cost to be recognized over a weighted-average period                 1 year 10 months 24 days        
Total fair value of shares vested             $ 0   $ 11,090,000 $ 5,306,000 $ 220,000    
weighted-average grant date fair value                 $ 27.02 $ 27.42   $ 2.15  
RSU component award vesting performance period       3 years                  
Restricted Stock Awards | Non-Executive Officers                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Vesting period                 3 years        
Restricted Stock Awards | Non-Employee Directors                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Vesting period                 1 year        
Maximum | Performance Stock Unit Awards                          
Weighted-Average Grant Date Fair Value                          
Component percentage in long-term incentive program       60.00%                  
Maximum | Restricted Stock Awards                          
Weighted-Average Grant Date Fair Value                          
Component percentage in long-term incentive program       45.00%                  
Maximum | Restricted Stock Awards | Executive Officer                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Vesting period                 4 years        
Minimum | Performance Stock Unit Awards                          
Weighted-Average Grant Date Fair Value                          
Component percentage in long-term incentive program       55.00%                  
Minimum | Restricted Stock Awards                          
Weighted-Average Grant Date Fair Value                          
Component percentage in long-term incentive program       40.00%                  
Minimum | Restricted Stock Awards | Executive Officer                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Vesting period                 3 years        
Subsequent Event | 2021 Equity Incentive Plan                          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]                          
Increase in number of shares authorised     0                    
[1] Includes 1,247,098 shares classified as a liability due to the potential cash component.
[2] Includes 566,862 shares classified as a liability due to the potential cash component.
[3] PSUs granted shall be adjusted as if the shares of common stock represented by such PSUs had received any applicable stock or cash dividends declared. As for stock dividends, a number of PSUs shall be added to the target amount corresponding to the number of shares of common stock that would have been payable per such stock dividend on the then outstanding number of PSUs under the agreement as if common stock had been issued for such PSUs. As to cash dividends, a number of PSUs shall be added to the target amount corresponding to the number of shares of common stock that could have been acquired by the cash dividend payable on the then outstanding number of PSUs under the agreement as if common stock had been issued for such PSUs, and the calculation of the number of shares of common stock that could have been acquired shall be based on the closing price of the common stock on the record date for the cash dividend at issue.
[4] As of the Effective Date and pursuant to the Plan, all outstanding PSUs of the Predecessor Company were deemed cancelled.
[5] In connection with the restructuring and support agreement, dated as of August 18, 2020, by and between the Predecessor Company and certain beneficial owners and/or investment advisors or managers of discretionary funds, accounts or other entities for the holders of beneficial owners (the "Consenting Noteholders"), the 2020 PSUs were cancelled.
[6] The value of the PSU awards are estimated on the date of grant using a Monte Carlo simulation model. For the 2023 PSUs, the valuation consists of computing the fair value using CBL's simulated stock price as well as TSR over a three-year performance period. The award is modeled as a contingent claim in that the expected return on the underlying shares is risk-free and the rate of discounting the payoff of the award is also risk-free. The weighted-average fair value per share related to the 2023 PSUs consists of 63,114 shares at a fair value of $40.64 per share (which relates to the relative TSR) and 94,675 shares at a fair value of $37.55 per share (which relates to absolute TSR). For the 2022 PSUs, the valuation consists of computing the fair value using CBL's simulated stock price as well as TMR for each performance period. The award is modeled as a contingent claim in that the expected return on the underlying shares is risk-free and the rate of discounting the payoff of the award is also risk-free.
[7] The risk-free interest rate was based on the yield curve on zero-coupon U.S. Treasury securities in effect as of the valuation date, which is the grant date listed above.
[8] For the 2023 PSUs, the computation of expected volatility was based on the historical volatility of CBL's shares of common stock based on annualized daily total continuous returns over a three-year period and implied volatility data based on the trailing month average of daily implied volatilities implied by stock call option contracts that were both closest to the terms shown and closest to the money. For the 2022 PSUs, the computation of expected volatility was based on the historical volatility of the share prices of comparable, publicly traded companies and given the Company's risk profile and leverage relative to the comparable, publicly traded companies. The Company's historical volatility was not relied upon given the Company's limited trading history since the Effective Date.