Revenues (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

A summary of the Company's contract assets activity during the nine months ended September 30, 2019 is presented below:



	Contract Assets
Balance as of December 31, 2018	$	289
Tenant openings	(139		)
Executed leases	25
Balance as of March 31, 2019	175
Tenant openings	(139		)
Executed leases	190
Balance as of June 30, 2019	226
Tenant openings	(142		)
Executed leases	118
Balance as of September 30, 2019	$	202

A summary of the Company's contract liability activity during the nine months ended September 30, 2019 is presented below:



	Contract Liability
Balance as of December 31, 2018	$	265
Completed performance obligation	(4		)
Contract obligation	—
Balance as of March 31, 2019	261
Completed performance obligation	—
Contract obligation	—
Balance as of June 30, 2019	261
Completed performance obligation	—
Contract obligation	—
Balance as of September 30, 2019	$	261

The Company has the following contract balances as of September 30, 2019:



		As of September 30, 2019		Expected Settlement Period
Description	Financial Statement Line Item	As of September 30, 2019		2019 ⁽¹⁾			2020			2021			2022			2023
Contract assets ⁽²⁾	Management, development and leasing fees	$	202	$	(19	)	$	(136	)	$	(43	)	$	—		$	(4	)
Contract liability ⁽³⁾	Other rents	261		(99		)	(54		)	(54		)	(54		)	—


(1)	Reflects fiscal period October 1, 2019 through December 31, 2019.


(2)	Represents leasing fees recognized as revenue in the period in which the lease is executed. Under certain third party and unconsolidated affiliates' contracts, the remaining 50% of the commissions are paid when the tenant opens. The tenant typically opens within a year, unless the project is in development.

(3)

Relates to a contract in which the Company received advance payments in the initial year of the multi-year contract.

Schedule of Disaggregation of Revenue

The following table presents the Company's revenues disaggregated by revenue source:



	Three Months Ended September 30, 2019		Three Months Ended September 30, 2018		Nine Months Ended September 30, 2019		Nine Months Ended September 30, 2018
Rental revenues ⁽¹⁾	$	180,616	$	200,311	$	556,989	$	620,608
Revenues from contracts with customers (ASC 606):
Operating expense reimbursements ⁽²⁾	2,449		2,086		6,653		6,597
Management, development and leasing fees ⁽³⁾	2,216		2,658		7,325		8,022
Marketing revenues ⁽⁴⁾	1,056		1,162		3,148		3,385
	5,721		5,906		17,126		18,004

Other revenues	914		661		4,543		3,064
Total revenues ⁽⁵⁾	$	187,251	$	206,878	$	578,658	$	641,676


(1)	Revenues from leases that commenced subsequent to December 31, 2018 are accounted for in accordance with ASC 842, Leases, whereas all leases existing prior to that date are accounted for in accordance with ASC 840, Leases. See Note 4.

(2)

Includes $2,374 in the Malls segment and $75 in the All Other segment for the three months ended September 30, 2019, and includes $1,903 in the Malls segment and $183 in the All Other segment for the three months ended September 30, 2018. Includes $6,458 in the Malls segment and $195 in the All Other segment for the nine months ended September 30, 2019, and includes $6,176 in the Malls segment and $421 in the All Other segment for the nine months ended September 30, 2018.


(3)	Included in All Other segment.


(4)	Marketing revenues solely relate to the Malls segment for all periods presented. See description below.

(5)

Sales taxes are excluded from revenues.

Schedule of Expected Recognition of Remaining Performance Obligation

As of September 30, 2019, the Company expects to recognize these amounts as revenue over the following periods:



Performance obligation	Less than 5 years		5-20 years		Over 20 years		Total
Fixed operating expense reimbursements	$	25,698	$	48,088	$	48,283	$	122,069