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Segment Information | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
Segment Information |
12. | Segment Information
The tables below present information about the Company’s reportable operating segments (in thousands):
| Three Months Ended September 30, 2019 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 108,060 |  |  | $ | — |  |  | $ | — |  |  | $ | 108,060 |
Other income |  | 13,567 |  |  |  | 13 |  |  |  | — |  |  |  | 13,580 |
Business interruption income |  | — |  |  |  | — |  |  |  | 885 |  |  |  | 885 |
Total revenues |  | 121,627 |  |  |  | 13 |  |  |  | 885 |  |  |  | 122,525 |
Rental operation expenses |  | (33,456 | ) |  |  | (3 | ) |  |  | — |  |  |  | (33,459 | )
Net operating income |  | 88,171 |  |  |  | 10 |  |  |  | 885 |  |  |  | 89,066 |
Impairment charges |  | (2,750 | ) |  |  |  |  |  |  |  |  |  |  | (2,750 | )
Depreciation and amortization |  | (40,732 | ) |  |  |  |  |  |  |  |  |  |  | (40,732 | )
Interest income |  |  |  |  |  | 4,616 |  |  |  |  |  |  |  | 4,616 |
Other income (expense), net |  |  |  |  |  |  |  |  |  | (322 | ) |  |  | (322 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (36,464 | ) |  |  | (36,464 | )
Equity in net income of joint ventures |  | 2,612 |  |  |  |  |  |  |  |  |  |  |  | 2,612 |
Reserve of preferred equity interests, net |  |  |  |  |  | (6,373 | ) |  |  |  |  |  |  | (6,373 | )
Gain on disposition of real estate, net |  | 14,497 |  |  |  |  |  |  |  |  |  |  |  | 14,497 |
Income before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | 24,150 |
| Three Months Ended September 30, 2018 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 126,148 |  |  | $ | — |  |  | $ | — |  |  | $ | 126,148 |
Other income |  | 16,149 |  |  |  | 14 |  |  |  | — |  |  |  | 16,163 |
Business interruption income |  | — |  |  |  | — |  |  |  | 1,784 |  |  |  | 1,784 |
Total revenues |  | 142,297 |  |  |  | 14 |  |  |  | 1,784 |  |  |  | 144,095 |
Rental operation expenses |  | (39,597 | ) |  |  | — |  |  |  | — |  |  |  | (39,597 | )
Net operating income |  | 102,700 |  |  |  | 14 |  |  |  | 1,784 |  |  |  | 104,498 |
Impairment charges |  | (19,890 | ) |  |  |  |  |  |  |  |  |  |  | (19,890 | )
Hurricane property credit, net |  |  |  |  |  |  |  |  | 157 |  |  |  | 157 |
Depreciation and amortization |  | (49,629 | ) |  |  |  |  |  |  |  |  |  |  | (49,629 | )
Interest income |  |  |  |  |  | 5,055 |  |  |  |  |  |  |  | 5,055 |
Other income (expense), net |  |  |  |  |  |  |  |  |  | (1,454 | ) |  |  | (1,454 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (42,194 | ) |  |  | (42,194 | )
Equity in net loss of joint ventures |  | (2,920 | ) |  |  |  |  |  |  |  |  |  |  | (2,920 | )
Reserve of preferred equity interests, net |  |  |  |  |  | (2,201 | ) |  |  |  |  |  |  | (2,201 | )
Gain on disposition of real estate, net |  | 124 |  |  |  |  |  |  |  |  |  |  |  | 124 |
Loss before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | (8,454 | )
| Nine Months Ended September 30, 2019 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 332,555 |  |  | $ | — |  |  | $ | — |  |  | $ | 332,555 |
Other income |  | 48,722 |  |  |  | 42 |  |  |  | — |  |  |  | 48,764 |
Business interruption income |  | — |  |  |  | — |  |  |  | 885 |  |  |  | 885 |
Total revenues |  | 381,277 |  |  |  | 42 |  |  |  | 885 |  |  |  | 382,204 |
Rental operation expenses |  | (106,574 | ) |  |  | (10 | ) |  |  | — |  |  |  | (106,584 | )
Net operating income |  | 274,703 |  |  |  | 32 |  |  |  | 885 |  |  |  | 275,620 |
Impairment charges |  | (3,370 | ) |  |  |  |  |  |  |  |  |  |  | (3,370 | )
Depreciation and amortization |  | (123,400 | ) |  |  |  |  |  |  |  |  |  |  | (123,400 | )
Interest income |  |  |  |  |  | 13,658 |  |  |  |  |  |  |  | 13,658 |
Other income (expense), net |  |  |  |  |  |  |  |  |  | (254 | ) |  |  | (254 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (108,321 | ) |  |  | (108,321 | )
Equity in net income of joint ventures |  | 5,446 |  |  |  |  |  |  |  |  |  |  |  | 5,446 |
Reserve of preferred equity interests, net |  |  |  |  |  | (12,106 | ) |  |  |  |  |  |  | (12,106 | )
Gain on disposition of real estate, net |  | 31,087 |  |  |  |  |  |  |  |  |  |  |  | 31,087 |
Income before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | 78,360 |
As of September 30, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total gross real estate assets | $ | 4,609,930 |  |  |  |  |  |  |  |  |  |  | $ | 4,609,930 |
Notes receivable, net(B) |  |  |  |  | $ | 182,400 |  |  | $ | (162,730 | ) |  | $ | 19,670 |
| Nine Months Ended September 30, 2018 |
| Shopping Centers |  |  | Loan Investments |  |  | Other |  |  | Total |
Rental income | $ | 529,916 |  |  | $ | — |  |  | $ | — |  |  | $ | 529,916 |
Other income |  | 33,836 |  |  |  | 43 |  |  |  | — |  |  |  | 33,879 |
Business interruption income |  | 5,100 |  |  |  | — |  |  |  | 1,784 |  |  |  | 6,884 |
Total revenues |  | 568,852 |  |  |  | 43 |  |  |  | 1,784 |  |  |  | 570,679 |
Rental operation expenses |  | (169,185 | ) |  |  | — |  |  |  | — |  |  |  | (169,185 | )
Net operating income |  | 399,667 |  |  |  | 43 |  |  |  | 1,784 |  |  |  | 401,494 |
Impairment charges |  | (68,394 | ) |  |  |  |  |  |  |  |  |  |  | (68,394 | )
Hurricane property (loss) credit, net |  | (974 | ) |  |  |  |  |  | 157 |  |  |  | (817 | )
Depreciation and amortization |  | (196,515 | ) |  |  |  |  |  |  |  |  |  |  | (196,515 | )
Interest income |  |  |  |  |  | 15,412 |  |  |  |  |  |  |  | 15,412 |
Other income (expense), net |  |  |  |  |  |  |  |  |  | (99,316 | ) |  |  | (99,316 | )
Unallocated expenses(A) |  |  |  |  |  |  |  |  |  | (161,268 | ) |  |  | (161,268 | )
Equity in net income of joint ventures |  | 9,687 |  |  |  |  |  |  |  |  |  |  |  | 9,687 |
Reserve of preferred equity interests, net |  |  |  |  |  | (4,537 | ) |  |  |  |  |  |  | (4,537 | )
Gain on disposition of real estate, net |  | 39,643 |  |  |  |  |  |  |  |  |  |  |  | 39,643 |
Loss before tax expense |  |  |  |  |  |  |  |  |  |  |  |  | $ | (64,611 | )
As of September 30, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total gross real estate assets | $ | 5,171,227 |  |  |  |  |  |  |  |  |  |  | $ | 5,171,227 |
Notes receivable, net(B) |  |  |  |  | $ | 223,748 |  |  | $ | (204,078 | ) |  | $ | 19,670 |
(A) | Unallocated expenses consist of General and Administrative Expenses and Interest Expense as listed in the Company’s consolidated statements of operations.
(B) | Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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