Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedue of Reconciliations of Amounts to Consolidated Net Income and Total Revenues

The following tables provide information about the shopping centers segment revenues, significant expenses, NOI and the reconciliations of these amounts to the Company’s consolidated Net income and Total revenues:

	Year ended December 31,
	2024			2023			2022
Lease income	$	1,548,929			1,413,079			1,312,532
Other property income		15,450			12,260			11,247
Less:
Straight-line rent on lease income		(22,193	)		(13,559	)		(27,220	)
Above/below market rent amortization, net		(25,612	)		(31,604	)		(23,021	)
Total real estate revenues		1,516,574			1,380,176			1,273,538
Operating expenses (1)		(267,660	)		(247,792	)		(213,085	)
Real estate taxes		(201,546	)		(181,096	)		(163,667	)
NOI	$	1,047,368			951,288			896,786
Reconciliation of Total real estate revenues to Total revenues:
Total real estate revenues		1,516,574			1,380,176			1,273,538
Consolidated:
Straight-line rent on lease income		20,300			10,788			24,272
Above/below market rent amortization, net		24,843			30,826			22,543
Management, transaction, and other fees		27,874			26,954			25,851
Add: Share of noncontrolling interests		11,859			10,865			10,683
Less: Share of unconsolidated real estate partnerships		(147,546	)		(137,143	)		(132,865	)
Total revenues	$	1,453,904			1,322,466			1,224,022

(1)Operating expenses include Operating and maintenance, Ground rent and Termination expense

Summary of Reconciliation of NOI to Net Income

	Year ended December 31,
	2024			2023			2022
Reconciliation of NOI to Net income:
NOI		1,047,368			951,288			896,786
Consolidated:
Straight-line rent on lease income		20,300			10,788			24,272
Above/below market rent amortization, net		24,843			30,826			22,543
Management, transaction, and other fees		27,874			26,954			25,851
Straight-line rent on ground rent		(1,350	)		(1,405	)		(1,610	)
Above/below market ground rent amortization		(2,142	)		(1,696	)		(1,548	)
Depreciation and amortization		(394,714	)		(352,282	)		(319,697	)
General and administrative		(101,465	)		(97,806	)		(79,903	)
Other operating expenses		(10,867	)		(9,459	)		(6,166	)
Other expense, net		(154,260	)		(147,824	)		(44,102	)
Add: Share of noncontrolling interests excluded from NOI		8,293			7,571			7,433
Less: Equity in income of investments in real estate excluded from NOI		(54,040	)		(46,088	)		(35,824	)
Net income	$	409,840			370,867			488,035