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Segment Information
9 Months Ended
Sep. 30, 2011
Segment Reporting [Abstract] 
Segment Information
Segment Information
 
The Company measures performance and allocates resources according to property type, which is determined based on certain criteria such as type of tenants, capital requirements, economic risks, leasing terms, and short and long-term returns on capital. Rental income and tenant reimbursements from tenant leases provide the majority of revenues from all segments. Information on the Company’s reportable segments is presented as follows:

Three Months Ended
September 30, 2011
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (2)
 
Total
Revenues
 
$
240,986

 
$
10,829

 
$
5,381

 
$
12,815

 
$
270,011

Property operating expenses (1)
 
(77,797
)
 
(2,743
)
 
(1,628
)
 
4,990

 
(77,178
)
Interest expense
 
(62,464
)
 
(2,296
)
 
(1,722
)
 
(4,161
)
 
(70,643
)
Other expense
 
—

 
—

 
—

 
(7,446
)
 
(7,446
)
Gain (loss) on sales of real estate assets
 
2,411

 
(7
)
 
486

 
—

 
2,890

Segment profit
 
$
103,136

 
$
5,783

 
$
2,517

 
$
6,198

 
117,634

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(71,404
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(10,092
)
Interest and other income
 
 

 
 

 
 

 
 

 
598

Loss on impairment of real estate
 
 

 
 

 
 

 
 

 
(51,304
)
Equity in earnings of unconsolidated affiliates
 
 

 
 

 
 

 
 

 
989

Income tax provision
 
 

 
 

 
 

 
 

 
(4,653
)
Loss from continuing operations
 
 

 
 

 
 

 
 

 
$
(18,232
)
Capital expenditures (3)
 
$
43,583

 
$
1,784

 
$
3,618

 
$
19,692

 
$
68,677



  Three Months Ended
September 30, 2010
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (2)
 
Total
Revenues
 
$
233,691

 
$
10,691

 
$
4,521

 
$
11,767

 
$
260,670

Property operating expenses (1)
 
(74,589
)
 
(2,797
)
 
(4,480
)
 
6,971

 
(74,895
)
Interest expense
 
(57,463
)
 
(1,921
)
 
(1,180
)
 
(10,614
)
 
(71,178
)
Other expense
 
—

 
—

 
—

 
(6,351
)
 
(6,351
)
Gain (loss) on sales of real estate assets
 
(72
)
 
—

 
540

 
94

 
562

Segment profit (loss)
 
$
101,567

 
$
5,973

 
$
(599
)
 
$
1,867

 
108,808

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(71,814
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(10,495
)
Interest and other income
 
 

 
 

 
 

 
 

 
832

Equity in losses of unconsolidated affiliates
 
 

 
 

 
 

 
 

 
(1,558
)
Income tax benefit
 
 

 
 

 
 

 
 

 
1,264

Income from continuing operations
 
 

 
 

 
 

 
 

 
$
27,037

Capital expenditures (3)
 
$
27,837

 
$
2,413

 
$
120

 
$
13,748

 
$
44,118

 
Nine Months Ended
September 30, 2011
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (2)
 
Total
Revenues
 
$
714,428

 
$
32,506

 
$
15,392

 
$
38,921

 
$
801,247

Property operating expenses (1)
 
(236,222
)
 
(8,488
)
 
(3,600
)
 
15,102

 
(233,208
)
Interest expense
 
(181,120
)
 
(6,553
)
 
(5,152
)
 
(16,946
)
 
(209,771
)
Other expense
 
—

 
—

 
—

 
(22,795
)
 
(22,795
)
Gain on sales of real estate assets
 
2,415

 
310

 
900

 
12

 
3,637

Segment profit
 
$
299,501

 
$
17,775

 
$
7,540

 
$
14,294

 
339,110

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(211,496
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(33,133
)
Interest and other income
 
 

 
 

 
 

 
 

 
1,755

Gain on extinguishment of debt
 
 

 
 

 
 

 
 

 
581

Loss on impairment of real estate
 
 

 
 

 
 

 
 

 
(55,761
)
Equity in earnings of unconsolidated affiliates
 
 

 
 

 
 

 
 

 
4,222

Income tax benefit
 
 

 
 

 
 

 
 

 
1,770

Income from continuing operations
 
 

 
 

 
 

 
 

 
$
47,048

Total assets
 
$
6,434,775

 
$
323,248

 
$
295,703

 
$
368,769

 
$
7,422,495

Capital expenditures (3)
 
$
95,992

 
$
5,197

 
$
6,280

 
$
64,606

 
$
172,075


  Nine Months Ended
September 30, 2010
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (2)
 
Total
Revenues
 
$
700,285

 
$
31,545

 
$
12,659

 
$
35,564

 
$
780,053

Property operating expenses (1)
 
(232,178
)
 
(8,375
)
 
(3,695
)
 
17,408

 
(226,840
)
Interest expense
 
(173,404
)
 
(5,899
)
 
(3,533
)
 
(33,216
)
 
(216,052
)
Other expense
 
—

 
—

 
—

 
(19,467
)
 
(19,467
)
Gain on sales of real estate assets
 
1,042

 
—

 
1,522

 
13

 
2,577

Segment profit
 
$
295,745

 
$
17,271

 
$
6,953

 
$
302

 
320,271

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(211,035
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(31,890
)
Interest and other income
 
 

 
 

 
 

 
 

 
2,831

Equity in losses of unconsolidated affiliates
 
 

 
 

 
 

 
 

 
(610
)
Income tax benefit
 
 

 
 

 
 

 
 

 
5,052

Income from continuing operations
 
 

 
 

 
 

 
 

 
$
84,619

Total assets
 
$
6,526,150

 
$
328,504

 
$
67,427

 
$
693,399

 
$
7,615,480

Capital expenditures (3)
 
$
83,699

 
$
7,578

 
$
2,852

 
$
32,765

 
$
126,894

 
(1)
Property operating expenses include property operating, real estate taxes and maintenance and repairs. 
(2)
The All Other category includes mortgage notes receivable, Office Buildings, the Management Company and the Company’s subsidiary that provides security and maintenance services. 
(3)
Amounts include acquisitions of real estate assets and investments in unconsolidated affiliates. Developments in progress are included in the All Other category.