XML 27 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Information on Reportable Segments
Information on the Company’s reportable segments is presented as follows:
Three Months Ended
March 31, 2015
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
230,271

 
$
10,407

 
$
4,681

 
$
15,550

 
$
260,909

Property operating expenses (2)
 
(73,949
)
 
(2,596
)
 
(1,124
)
 
1,764

 
(75,905
)
Interest expense
 
(43,698
)
 
(1,956
)
 
(1,195
)
 
(12,308
)
 
(59,157
)
Other expense
 
—

 
—

 
—

 
(6,476
)
 
(6,476
)
Gain on sales of real estate assets
 
264

 
—

 
—

 
493

 
757

Segment profit (loss)
 
$
112,888

 
$
5,855

 
$
2,362

 
$
(977
)
 
120,128

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(76,266
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(17,230
)
Interest and other income
 
 

 
 

 
 

 
 

 
5,274

Gain on investment
 
 
 
 
 
 
 
 
 
16,560

Equity in earnings of unconsolidated affiliates
 
 

 
 

 
 

 
 

 
3,823

Income tax benefit
 
 

 
 

 
 

 
 

 
916

Income from continuing operations
 
 

 
 

 
 

 
 

 
$
53,205

Total Assets
 
$
5,665,654

 
$
272,045

 
$
266,076

 
$
339,825

 
$
6,543,600

Capital expenditures (3)
 
$
30,366

 
$
5,908

 
$
198

 
$
30,769

 
$
67,241


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

Total Assets
 
$
5,766,003

 
$
274,556

 
$
297,347

 
$
365,943

 
$
6,703,849

Capital expenditures (3)
 
$
32,937

 
$
9,272

 
$
528

 
$
39,757

 
$
82,494

(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.