Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Information on Reportable Segments

Information on the Company’s segments is presented as follows:

Three Months Ended September 30, 2021	Malls			All Other ⁽¹⁾			Total
Revenues ⁽²⁾	$	131,870		$	18,505		$	150,375
Property operating expenses ⁽³⁾		(40,466	)		(6,791	)		(47,257	)
Interest expense		(18,698	)		(341	)		(19,039	)
Gain on sales of real estate assets		4,836			3,848			8,684
Other expense		—			(104	)		(104	)
Segment profit	$	77,542		$	15,117			92,659
Depreciation and amortization								(46,479	)
General and administrative expense								(13,502	)
Litigation settlement								89
Interest and other income								510
Reorganization items								(12,008	)
Loss on impairment								(63,160	)
Income tax benefit								1,234
Equity in losses of unconsolidated affiliates								(2,224	)
Net loss							$	(42,881	)
Capital expenditures ⁽⁴⁾	$	11,853		$	380		$	12,233



Three Months Ended September 30, 2020	Malls			All Other ⁽¹⁾			Total
Revenues ⁽²⁾	$	115,661		$	14,236		$	129,897
Property operating expenses ⁽³⁾		(43,628	)		(2,408	)		(46,036	)
Interest expense		(18,845	)		(42,292	)		(61,137	)
Loss on sales of real estate assets		—			(55	)		(55	)
Segment profit (loss)	$	53,188		$	(30,519	)		22,669
Depreciation and amortization								(53,477	)
General and administrative expense								(25,497	)
Litigation settlement								2,480
Interest and other income								1,975
Gain on extinguishment of debt								15,407
Loss on impairment								(46	)
Income tax provision								(546	)
Equity in losses of unconsolidated affiliates								(7,389	)
Net loss							$	(44,424	)
Capital expenditures ⁽⁴⁾	$	2,524		$	1,262		$	3,786

Nine Months Ended September 30, 2021	Malls			All Other ⁽¹⁾			Total
Revenues ⁽²⁾	$	377,478		$	42,642		$	420,120
Property operating expenses ⁽³⁾		(130,364	)		(9,544	)		(139,908	)
Interest expense		(63,441	)		(2,027	)		(65,468	)
Gain on sales of real estate assets		4,836			3,656			8,492
Other expense		(65	)		(326	)		(391	)
Segment profit	$	188,444		$	34,401			222,845
Depreciation and amortization								(142,090	)
General and administrative expense								(37,383	)
Litigation settlement								890
Interest and other income								2,038
Reorganization items								(52,014	)
Loss on impairment								(120,342	)
Gain on deconsolidation								55,131
Income tax provision								(222	)
Equity in losses of unconsolidated affiliates								(9,575	)
Net loss							$	(80,722	)
Capital expenditures ⁽⁴⁾	$	24,056		$	2,996		$	27,052


Nine Months Ended September 30, 2020	Malls			All Other ⁽¹⁾			Total
Revenues ⁽²⁾	$	381,013		$	40,669		$	421,682
Property operating expenses ⁽³⁾		(134,111	)		(8,075	)		(142,186	)
Interest expense		(55,952	)		(104,808	)		(160,760	)
Other expense		—			(400	)		(400	)
Gain (loss) on sales of real estate assets		(25	)		2,733			2,708
Segment profit (loss)	$	190,925		$	(69,881	)		121,044
Depreciation and amortization								(162,042	)
General and administrative expense								(62,060	)
Litigation settlement								2,480
Interest and other income								5,263
Gain on extingushment of debt								15,407
Loss on impairment								(146,964	)
Income tax provision								(17,189	)
Equity in losses of unconsolidated affiliates								(12,450	)
Net loss							$	(256,511	)
Capital expenditures ⁽⁴⁾	$	30,334		$	4,915		$	35,249

Total assets	Malls		All Other ⁽¹⁾		Total
September 30, 2021	$	3,350,405	$	877,742	$	4,228,147

December 31, 2020	$	3,702,523	$	741,217	$	4,443,740

(1)	The All Other category includes associated centers, community centers, mortgage and other notes receivable, office buildings, self-storage facilities, corporate-level debt and the Management Company.

(2)	Management, development and leasing fees are included in the All Other category. See Note 4 for information on the Company's revenues disaggregated by revenue source for each of the above segments.

(3)	Property operating expenses include property operating, real estate taxes and maintenance and repairs.

(4)

Includes additions to and acquisitions of real estate assets and investments in unconsolidated affiliates. Developments in progress are included in the All Other category.