Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of estimated useful lives

Depreciation or amortization expense is computed using the straight‑line method based upon the following estimated useful lives:

Asset Type	Years	Balance Sheet Location
Buildings and improvements	7 - 40	Buildings and Equipment
Equipment and fixtures	5 - 20	Buildings and Equipment
Computer hardware and software, and vehicles	3 - 5	Buildings and Equipment
Tenant improvements	Lesser of lease term or useful life	Buildings and Equipment
Leasing costs	Related lease term	Prepaid expenses and other assets, net

Categories of developments

Developments consist of the following categories as of December 31:

thousands	2021		2020
Land and improvements	$	360,957	$	407,926
Development costs	847,950		744,748
Total Developments	$	1,208,907	$	1,152,674

Components of accounts receivable, net

The following table represents the components of Accounts Receivable, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets as of December 31:

thousands	2021		2020
Straight-line rent receivables	$	72,461	$	59,288
Tenant receivables	8,647		4,339
Other receivables	5,280		3,099
Accounts receivable, net (a)	$	86,388	$	66,726

(a)As of December 31, 2021, the total reserve balance for amounts considered uncollectible was $16.5 million, comprised of $11.5 million related to ASC 842 and $5.0 million related to ASC 450. As of December 31, 2020, the total reserve balance was $33.0 million, comprised of $27.3 million related to ASC 842 and $5.7 million related to ASC 450. The decrease in total reserve balance is primarily due to write offs of $14.5 million in 2021, primarily related to uncollectible amounts at Ward Village.

Schedule of impacts of the ASC 842 and ASC 450 reserves in the accompanying condensed consolidated statement of operations

The following table summarizes the impacts of the ASC 842 and ASC 450 reserves in the accompanying Consolidated Statements of Operations for the years ended December 31:

thousands	Income Statement Location	2021		2020		2019
ASC 842 reserve	Rental revenue	$	(1,562)	$	21,825	$	6,295
ASC 450 reserve	Provision for (recovery of) doubtful accounts	(789)		6,009		(414)
Total impact		$	(2,351)	$	27,834	$	5,881