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Segment Information
 9 Months Ended
Sep. 30, 2017
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, 2017
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
205,020

 
$
9,720

 
$
4,023

 
$
5,887

 
$
224,650

Property operating expenses (2)
 
(59,602
)
 
(2,643
)
 
(843
)
 
(1,034
)
 
(64,122
)
Interest expense
 
(28,922
)
 
(43
)
 
(89
)
 
(24,859
)
 
(53,913
)
Other expense
 
—

 
—

 
—

 
(132
)
 
(132
)
Gain (loss) on sales of real estate assets
 
(1,994
)
 
—

 
—

 
3,377

 
1,383

Segment profit (loss)
 
$
114,502

 
$
7,034

 
$
3,091

 
$
(16,761
)
 
107,866

Depreciation and amortization expense
 
 
 
 
 
 
 
 
 
(71,732
)
General and administrative expense
 
 
 
 
 
 
 
 
 
(13,568
)
Interest and other income (loss)
 
 
 
 
 
 
 
 
 
(200
)
Gain on extinguishment of debt
 
 
 
 
 
 
 
 
 
6,452

Loss on impairment
 
 
 
 
 
 
 
 
 
(24,935
)
Loss on investment
 
 
 
 
 
 
 
 
 
(354
)
Income tax benefit
 
 
 
 
 
 
 
 
 
1,064

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
 
 
 
 
4,706

Net income
 
 
 
 
 
 
 
 
 
$
9,299

Capital expenditures (3)
 
$
47,246

 
$
594

 
$
331

 
$
110

 
$
48,281


Three Months Ended September 30, 2016
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
228,918

 
$
9,997

 
$
4,776

 
$
8,030

 
$
251,721

Property operating expenses (2)
 
(68,189
)
 
(2,311
)
 
(1,149
)
 
805

 
(70,844
)
Interest expense
 
(35,915
)
 
(1,424
)
 
(858
)
 
(16,095
)
 
(54,292
)
Other expense
 
—

 
—

 
—

 
(5,576
)
 
(5,576
)
Gain on sales of real estate assets
 
273

 
—

 
—

 
4,653

 
4,926

Segment profit (loss)
 
$
125,087

 
$
6,262

 
$
2,769

 
$
(8,183
)
 
125,935

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(71,794
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(13,222
)
Interest and other income
 
 

 
 

 
 

 
 

 
451

Gain on extinguishment of debt
 
 
 
 
 
 
 
 
 
(6
)
Loss on impairment
 
 
 
 
 
 
 
 
 
(53,558
)
Income tax benefit
 
 

 
 

 
 

 
 

 
2,386

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
 
 
 
 
10,478

Net income
 
 

 
 

 
 

 
 

 
$
670

Capital expenditures (3)
 
$
64,085

 
$
61

 
$
1,452

 
$
32,420

 
$
98,018



Nine Months Ended September 30, 2017
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
632,830

 
$
28,704

 
$
12,459

 
$
17,903

 
$
691,896

Property operating expenses (2)
 
(182,926
)
 
(6,723
)
 
(2,394
)
 
(2,872
)
 
(194,915
)
Interest expense
 
(93,481
)
 
(1,269
)
 
(247
)
 
(70,182
)
 
(165,179
)
Other expense
 
—

 
—

 
—

 
(5,151
)
 
(5,151
)
Gain on sales of real estate assets
 
75,434

 
—

 
—

 
11,470

 
86,904

Segment profit (loss)
 
$
431,857

 
$
20,712

 
$
9,818

 
$
(48,832
)
 
413,555

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(225,461
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(45,402
)
Interest and other income
 
 

 
 

 
 

 
 

 
1,235

Gain on extinguishment of debt
 
 
 
 
 
 
 
 
 
30,927

Loss on impairment
 
 
 
 
 
 
 
 
 
(71,401
)
Loss on investment
 
 
 
 
 
 
 
 
 
(6,197
)
Income tax benefit
 
 

 
 

 
 

 
 

 
4,784

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
 
 
 
 
16,404

Net income
 
 

 
 

 
 

 
 

 
$
118,444

Capital expenditures (3)
 
$
126,290

 
$
1,678

 
$
1,036

 
$
2,874

 
$
131,878


Nine Months Ended September 30, 2016
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
700,407

 
$
30,096

 
$
14,747

 
$
24,514

 
$
769,764

Property operating expenses (2)
 
(208,975
)
 
(7,010
)
 
(3,552
)
 
6,805

 
(212,732
)
Interest expense
 
(105,797
)
 
(4,557
)
 
(321
)
 
(52,035
)
 
(162,710
)
Other expense
 
—

 
—

 
—

 
(20,313
)
 
(20,313
)
Gain on sales of real estate assets
 
489

 
478

 
3,239

 
10,297

 
14,503

Segment profit (loss)
 
$
386,124

 
$
19,007

 
$
14,113

 
$
(30,732
)
 
388,512

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(220,505
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(46,865
)
Interest and other income
 
 

 
 

 
 

 
 

 
1,062

Loss on impairment
 
 
 
 
 
 
 
 
 
(116,736
)
Income tax benefit
 
 

 
 

 
 

 
 

 
2,974

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
 
 
 
 
107,217

Net income
 
 

 
 

 
 

 
 

 
$
115,659

Capital expenditures (3)
 
$
125,406

 
$
3,158

 
$
2,420

 
$
49,554

 
$
180,538


Total Assets
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
September 30, 2017
 
$
5,086,855

 
$
243,840

 
$
235,680

 
$
177,381

 
$
5,743,756

 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
$
5,383,937

 
$
259,966

 
$
215,917

 
$
244,820

 
$
6,104,640

 
 
 
 
 
 
 
 
 
 
 
(1)
The All Other category includes mortgage and other notes receivable, office buildings, the Management Company and, prior to the redemption of the Company's redeemable noncontrolling interests during the fourth quarter of 2016, the Company’s former consolidated subsidiary that provided security and maintenance services to third parties.
(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.