XML 31 R18.htm IDEA: XBRL DOCUMENT v3.22.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

11.

Commitments and Contingencies

Legal Matters

The Company and its subsidiaries are subject to various legal proceedings, which, taken together, are not expected to have a material adverse effect on the Company.  The Company is also subject to a variety of legal actions for personal injury or property damage arising in the ordinary course of its business, most of which are covered by insurance.  While the resolution of all matters

cannot be predicted with certainty, management believes that the final outcome of such legal proceedings and claims will not have a material adverse effect on the Company’s liquidity, financial position or results of operations.  

Separation Charges

The Company recorded separation charges aggregating $1.7 million in 2020, which are included in General and Administrative Expenses.  

Commitments and Guaranties

In conjunction with the redevelopment of various shopping centers, the Company has entered into commitments with general contractors for the construction or redevelopment of shopping centers aggregating approximately $16.9 million as of December 31, 2021.  These contracts typically can be changed or terminated without penalty.  

At December 31, 2021, the Company had letters of credit outstanding of $13.2 million.  The Company has not recorded any obligation associated with these letters of credit.  The majority of the letters of credit are collateral for insurance obligations as the Company is self-insured up to certain limits on several policies.