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Investments in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Beneficial Interests In Joint Ventures
Shopping Center
 
Ownership as of
December 31, 2016 and 2015
CityOn.Xi'an (1)
 
50/30%
CityOn.Zhengzhou (under construction)
 
Note 2
Country Club Plaza (2)
 
50/0
Fair Oaks
 
50
International Plaza
 
50.1
The Mall at Millenia
 
50
Stamford Town Center
 
50
Starfield Hanam
 
34.3
Sunvalley
 
50
The Mall at University Town Center
 
50
Waterside Shops
 
50
Westfarms
 
79

(1)
In April 2016, the joint venture effectively acquired the 40% noncontrolling interest in the project. As a result of the acquisition, the Company's effective ownership is 50% (Note 2).
(2)
In March 2016, the Company acquired a 50% ownership interest in Country Club Plaza (Note 2).
Equity Method Investment Summarized Financial Information Text Block
 
December 31 2016
 
December 31 2015
Assets:
 
 
 
Properties (1)
$
3,371,216

 
$
1,628,492

Accumulated depreciation and amortization
(661,611
)
 
(589,145
)
 
$
2,709,605

 
$
1,039,347

Cash and cash equivalents
83,882

 
36,047

Accounts and notes receivable, less allowance for doubtful accounts of $1,965 and $1,602 in 2016 and 2015
87,612

 
42,361

Deferred charges and other assets (2)
67,167

 
32,660

 
$
2,948,266

 
$
1,150,415

 


 
 
Liabilities and accumulated deficiency in assets:
 

 
 

Notes payable, net (2)(3)
$
2,706,628

 
$
1,994,298

Accounts payable and other liabilities
359,814

 
70,539

TRG's accumulated deficiency in assets
(166,226
)
 
(512,256
)
Unconsolidated Joint Venture Partners' accumulated deficiency in assets
48,050

 
(402,166
)
 
$
2,948,266

 
$
1,150,415

 


 
 
TRG's accumulated deficiency in assets (above)
$
(166,226
)
 
$
(512,256
)
TRG's investment in centers under construction (Note 2)
112,861

 
296,847

TRG basis adjustments, including elimination of intercompany profit
126,240

 
132,218

TCO's additional basis
51,070

 
53,016

Net Investment in Unconsolidated Joint Ventures
$
123,945

 
$
(30,175
)
Distributions in excess of investments in and net income of Unconsolidated Joint Ventures
480,863

 
464,086

Investment in Unconsolidated Joint Ventures
$
604,808

 
$
433,911


(1)
The December 31, 2016 amount includes $63.5 million related to an office tower, which is expected to be sold in the first half of 2017.
(2)
The December 31, 2015 balance has been retrospectively adjusted in connection with the Company's adoption of ASU No. 2015-03 "Imputation of Interest: Simplifying the presentation of Debt Issuance Costs" (Note 1).
(3)
The Notes Payable, net amount excludes the construction financing outstanding for CityOn.Zhengzhou of $70.5 million ($34.5 million at TRG's share) and $44.7 million ($14.2 million at TRG's share) as of December 31, 2016 and 2015, respectively. The balances presented also exclude the construction financing outstanding for Starfield Hanam of $52.9 million ($18.1 million at TRG's share) as of December 31, 2015, and the related debt issuance costs.
 
Year Ended December 31
 
2016
 
2015
 
2014
Revenues
$
477,458

 
$
378,280

 
$
338,017

Maintenance, taxes, utilities, promotion, and other operating expenses
$
172,325

 
$
118,909

 
$
106,249

Interest expense
103,973

 
85,198

 
74,806

Depreciation and amortization
95,051

 
55,318

 
47,377

Total operating costs
$
371,349

 
$
259,425

 
$
228,432

Nonoperating income (expense)
317

 
(1
)
 
(22
)
Income tax expense
(375
)
 
 
 
 
Net income
$
106,051

 
$
118,854

 
$
109,563

 


 
 
 
 
Net income attributable to TRG
$
61,561

 
$
65,384

 
$
60,690

Realized intercompany profit, net of depreciation on TRG’s basis adjustments
10,086

 
4,542

 
3,258

Depreciation of TCO's additional basis
(1,946
)
 
(1,946
)
 
(1,946
)
Beneficial interest in UJV impairment charge - Miami Worldcenter


 
(11,754
)
 
 
Equity in income of Unconsolidated Joint Ventures
$
69,701

 
$
56,226

 
$
62,002

 
 
 
 
 
 
Beneficial interest in Unconsolidated Joint Ventures’ operations:
 

 
 

 
 

Revenues less maintenance, taxes, utilities, promotion, and other operating expenses
$
178,009

 
$
147,905

 
$
132,652

Interest expense
(54,674
)
 
(45,564
)
 
(40,416
)
Depreciation and amortization
(53,012
)
 
(34,361
)
 
(30,234
)
Income tax expense
(622
)
 
 
 
 
Beneficial interest in UJV impairment charge - Miami Worldcenter
 
 
(11,754
)
 
 
Equity in income of Unconsolidated Joint Ventures
$
69,701

 
$
56,226

 
$
62,002