XML 61 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Investments in Unconsolidated Entities and International Investments - Combined Statements of Operations (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUE:        
Lease income $ 1,013,510 $ 1,298,567 $ 2,275,742 $ 2,578,623
Other income 27,496 70,371 89,458 215,604
Total revenue 1,062,041 1,397,186 2,415,401 2,850,019
EXPENSES:        
Property operating 70,620 106,119 176,243 217,669
Depreciation and amortization 324,140 352,606 652,402 681,249
Real estate taxes 117,221 115,914 234,764 231,372
Repairs and maintenance 14,080 21,850 38,511 49,772
Advertising and promotion 12,689 35,420 46,216 72,545
Other 29,037 27,820 56,878 53,236
Total operating expenses 611,173 716,555 1,309,664 1,424,366
OPERATING INCOME BEFORE OTHER ITEMS 450,868 680,631 1,105,737 1,425,653
Interest expense (197,061) (198,425) (384,688) (397,160)
Gain on sale or disposal of assets and interests in unconsolidated entities, net (7,845) 2,681 (6,883) 2,681
CONSOLIDATED NET INCOME 290,548 572,102 795,952 1,204,048
Income from Unconsolidated Entities 44,322 106,542 94,787 196,986
Equity Method Investees excluding Klepierre, ABG, HBS, RGG, Forever 21 and Sparc Group | Unconsolidated properties        
REVENUE:        
Lease income 574,246 760,131 1,318,096 1,519,110
Other income 46,205 79,389 120,718 155,311
Total revenue 620,451 839,520 1,438,814 1,674,421
EXPENSES:        
Property operating 107,309 140,262 254,339 284,983
Depreciation and amortization 165,511 170,407 336,989 340,664
Real estate taxes 60,634 67,809 129,023 136,526
Repairs and maintenance 13,589 18,832 33,204 41,209
Advertising and promotion 10,016 19,695 32,768 44,021
Other 15,734 47,743 65,964 97,058
Total operating expenses 372,793 464,748 852,287 944,461
OPERATING INCOME BEFORE OTHER ITEMS 247,658 374,772 586,527 729,960
Interest expense (152,409) (157,927) (309,050) (313,944)
Gain on sale or disposal of assets and interests in unconsolidated entities, net       21,587
CONSOLIDATED NET INCOME 95,249 216,845 277,477 437,603
Third-Party Investors' Share of Net Income 53,989 110,620 146,848 223,287
Our Share of Net Income 41,260 106,225 130,629 214,316
Amortization of Excess Investment (20,761) (20,774) (41,601) (41,567)
Our Share of Gain on Sale or Disposal of Assets and Interest in Other Income in the Consolidated Financial Statements       (9,155)
Income from Unconsolidated Entities $ 20,499 $ 85,451 $ 89,028 $ 163,594