XML 45 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
Information on Reportable Segments
Information on the Company’s reportable segments is presented as follows, restated for discontinued operations in all periods presented:

Three Months Ended
March 31, 2014
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
229,873

 
$
10,856

 
$
4,538

 
$
15,976

 
$
261,243

Property operating expenses (2)
 
(74,294
)
 
(2,495
)
 
(1,657
)
 
923

 
(77,523
)
Interest expense
 
(50,016
)
 
(2,000
)
 
(649
)
 
(7,841
)
 
(60,506
)
Other expense
 
—

 
—

 
—

 
(6,545
)
 
(6,545
)
Gain on sales of real estate assets
 
1,130

 
1

 
1

 
22

 
1,154

Segment profit
 
$
106,693

 
$
6,362

 
$
2,233

 
$
2,535

 
117,823

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(69,083
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(14,773
)
Interest and other income
 
 

 
 

 
 

 
 

 
1,528

Gain on extinguishment of debt
 
 
 
 
 
 
 
 
 
42,660

Loss on impairment
 
 
 
 
 
 
 
 
 
(17,150
)
Equity in earnings of unconsolidated affiliates
 
 

 
 

 
 

 
 

 
3,684

Income tax provision
 
 

 
 

 
 

 
 

 
(397
)
Income from continuing operations
 
 

 
 

 
 

 
 

 
$
64,292

Capital expenditures (3)
 
$
32,937

 
$
9,272

 
$
528

 
$
39,757

 
$
82,494


Three Months Ended
March 31, 2013
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
229,146

 
$
10,605

 
$
4,064

 
$
14,667

 
$
258,482

Property operating expenses (2)
 
(77,265
)
 
(2,677
)
 
(554
)
 
4,757

 
(75,739
)
Interest expense
 
(52,439
)
 
(2,046
)
 
(577
)
 
(4,762
)
 
(59,824
)
Other expense
 
—

 
—

 
—

 
(6,656
)
 
(6,656
)
Gain on sales of real estate assets
 
295

 
—

 
—

 
248

 
543

Segment profit
 
$
99,737

 
$
5,882

 
$
2,933

 
$
8,254

 
116,806

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(69,056
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(13,424
)
Interest and other income
 
 

 
 

 
 

 
 

 
727

Equity in earnings of unconsolidated affiliates
 
 

 
 

 
 

 
 

 
2,619

Income tax benefit
 
 

 
 

 
 

 
 

 
174

Income from continuing operations
 
 

 
 

 
 

 
 

 
$
37,846

Capital expenditures (3)
 
$
19,557

 
$
1,006

 
$
1,184

 
$
40,062

 
$
61,809


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