XML 69 R62.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Information - Summary (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Total revenues [1],[2] $ 141,768 $ 129,117
Interest and other income 3,468 4,004
Depreciation and amortization (45,541) (38,040)
General and administrative expense (20,707) (20,414)
Litigation settlement   68
Loss on extinguishment of debt (217)  
Loss on impairment   (836)
Income tax benefit 471 158
Equity in earnings of unconsolidated affiliates 6,913 4,594
All Other    
Segment Reporting Information [Line Items]    
Total revenues [1],[3] 8,143 8,900
Net operating income [3] 9,478 10,521
Total Reportable Segments    
Segment Reporting Information [Line Items]    
Total revenues [1] 154,232 159,114
Property operating expenses [4] (58,207) (52,584)
Interest and other income 402 361
Net operating income 96,427 106,891
Interest expense (44,225) (39,812)
Gain on sales of real estate assets 21,532 3,721
Depreciation and amortization (45,541) (38,040)
General and administrative expense (20,707) (20,414)
Litigation settlement   68
Loss on extinguishment of debt (217)  
Loss on impairment   (836)
Income tax benefit 471 158
Equity in earnings of unconsolidated affiliates 6,913 4,594
Net income (loss) 8,387 (474)
Total Reportable Segments | Malls    
Segment Reporting Information [Line Items]    
Total revenues [1] 115,909 120,861
Property operating expenses [4] (47,652) (43,198)
Interest and other income 218 165
Net operating income 68,475 77,828
Total Reportable Segments | Outlet Centers    
Segment Reporting Information [Line Items]    
Total revenues [1] 8,592 8,361
Property operating expenses [4] (3,087) (2,845)
Interest and other income 12 30
Net operating income 5,517 5,546
Total Reportable Segments | Lifestyle Centers    
Segment Reporting Information [Line Items]    
Total revenues [1] 12,134 12,027
Property operating expenses [4] (3,789) (3,466)
Net operating income 8,345 8,561
Total Reportable Segments | Open-Air Centers    
Segment Reporting Information [Line Items]    
Total revenues [1] 17,597 17,865
Property operating expenses [4] (3,679) (3,075)
Interest and other income 172 166
Net operating income 14,090 14,956
Consolidation Adjustments    
Segment Reporting Information [Line Items]    
Total revenues [1],[5] (20,607) (38,897)
Net operating income [5] $ (15,744) $ (27,325)
[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] The All Other category includes outparcels, office buildings, hotels, corporate-level entities and the Management Company.
[4] Property operating expenses include property operating, real estate taxes and maintenance and repairs, none of which represent significant segment expense.
[5] Consolidated 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 condensed consolidated statements of operations.