XML 100 R87.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Information - Summary (Details) - USD ($)
$ in Thousands
 1 Months Ended 10 Months Ended 12 Months Ended
Aug. 31, 2024
Oct. 31, 2021
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]          
Total revenues [1],[2]     $ 515,561 $ 535,286 $ 563,011
Interest and other income     15,713 13,199 4,938
Interest expense     (154,486) (172,905) (217,342)
Other     (230) (221) (834)
Depreciation and amortization     (140,591) (190,505) (256,310)
General and administrative     (67,254) (64,066) (67,215)
Litigation settlement     553 2,310 304
Gain (loss) on extinguishment of debt $ (819)   (819) 3,270 7,344
Loss on available-for-sale securities         (39)
Reorganizations items, net         298
Loss on impairment     (1,461)   (252)
Gain on consolidation     26,727    
Gain on deconsolidation       47,879 36,250
Income tax provision   $ (3,079) (1,055) (894) (3,079)
Equity in earnings of unconsolidated affiliates     22,932 11,865 19,796
Net income (loss)       3,204  
Total Reportable Segments          
Segment Reporting Information [Line Items]          
Total revenues [1]     600,580 619,783 647,406
Property operating expenses [3]     (200,859) (211,922) (216,354)
Interest and other income     1,499 1,979 1,705
Net operating income     401,220 409,840 432,757
Interest expense     (154,486) (172,905) (217,342)
Gain on sales of real estate assets     16,676 5,125 5,345
Other     (230) (221) (834)
Depreciation and amortization     (140,591) (190,505) (256,310)
General and administrative     (67,254) (64,066) (67,215)
Litigation settlement     553 2,310 304
Gain (loss) on extinguishment of debt     (819) 3,270 7,344
Loss on available-for-sale securities         (39)
Reorganizations items, net         298
Loss on impairment     1,461   (252)
Gain on consolidation     26,727    
Gain on deconsolidation       47,879 36,250
Income tax provision     (1,055) (894) (3,079)
Equity in earnings of unconsolidated affiliates     22,932 11,865 19,796
Net income (loss)     57,117   (99,515)
Consolidation Adjustments          
Segment Reporting Information [Line Items]          
Total revenues [1],[4]     (121,535) (119,752) (120,525)
Net operating income [4]     (88,234) (87,345) (87,743)
Malls | Total Reportable Segments          
Segment Reporting Information [Line Items]          
Total revenues [1]     446,043 468,138 495,736
Property operating expenses [3]     (160,304) (170,952) (173,806)
Interest and other income     681 1,068 984
Net operating income     286,420 298,254 322,914
Outlet Centers | Total Reportable Segments          
Segment Reporting Information [Line Items]          
Total revenues [1]     34,688 32,504 30,356
Property operating expenses [3]     (12,764) (12,136) (12,014)
Interest and other income     81 22 (14)
Net operating income     22,005 20,390 18,328
Lifestyle Centers | Total Reportable Segments          
Segment Reporting Information [Line Items]          
Total revenues [1]     49,925 50,634 54,493
Property operating expenses [3]     (14,656) (14,026) (15,089)
Interest and other income     1 12 5
Net operating income     35,270 36,620 39,409
Open-Air Centers | Total Reportable Segments          
Segment Reporting Information [Line Items]          
Total revenues [1]     69,924 68,507 66,821
Property operating expenses [3]     (13,135) (14,808) (15,445)
Interest and other income     736 877 730
Net operating income     57,525 54,576 52,106
All Other          
Segment Reporting Information [Line Items]          
Total revenues [1],[5]     36,516 35,255 36,130
Net operating income [5]     $ 43,139 $ 38,851 $ 31,205
[1] Management, development and leasing fees earned by the Management Company are included in the All Other category. See Note 3 for information on the Company’s revenues disaggregated by revenue source.
[2] Sales taxes are excluded from revenues.
[3] Property operating expenses include property operating, real estate taxes and maintenance and repairs, none of which represent significant segment expense.
[4] Consolidation adjustments represent the elimination of the Company's share of unconsolidated affiliates and the addition of the noncontrolling interests' share to reconcile to the amounts reported in the Company's consolidated statements of operations.
[5] The All Other category includes outparcels, office buildings, hotels, corporate-level entities and the Management Company.