Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income tax expense (benefit)

The Company’s income tax expense (benefit) for the years ended December 31, 2017, 2016, and 2015 consisted of the following:

	2017				2016				2015
Federal current	$	(2,509	)		$	2,238			$	1,931
Federal deferred	1,632			(1)	(1,310		)		(34		)
Foreign current	849				404				628
Foreign deferred	158				293				(114		)
State current	(208		)		782				(528		)
State deferred	183				(195		)		(72		)
Total income tax expense	$	105			$	2,212			$	1,811
Add income tax benefit allocated to Gain on Dispositions (2)									437
Income tax expense as reported on the Consolidated Statement of Operations and Comprehensive Income	$	105			$	2,212		(3)	$	2,248

(1) Reflects $0.3 million of expense related to the restatement of the net Federal deferred tax asset at December 31, 2017 at the new 21% Federal corporate income tax rate under the 2017 Tax Act.

(2) Amount represents a reduction of the income taxes incurred as part of the Company's sale of interests in International Plaza in January 2014, which is classified within Gain on Dispositions, Net of Tax on the Consolidated Statement of Operations and Comprehensive Income.

(3) Includes $0.5 million of income taxes recognized at the time of conversion of a portion of the Company's investment in partnership units in Simon Property Group Limited Partnership to common shares of Simon Property Group (Note 7).

Deferred tax assets and liabilities

Deferred tax assets and liabilities as of December 31, 2017 and 2016 were as follows:

	2017				2016
Deferred tax assets:
Federal	$	503		(1)	$	3,230
Foreign	1,788				1,673
State	545				935
Total deferred tax assets	$	2,836			$	5,838
Valuation allowances	(1,620		)		(1,812		)
Net deferred tax assets	$	1,216			$	4,026
Deferred tax liabilities:
Federal
Foreign	$	1,517			1,124
State
Total deferred tax liabilities	$	1,517			$	1,124

(1) Includes a $0.3 million reduction in the net Federal deferred tax asset due to the new 21% Federal corporate income tax rate under the 2017 Tax Act.

Tax Status of Dividends, Common Stock [Table Text Block]

Year	Dividends per common share declared		Return of capital		Ordinary income		Long term capital gain		Unrecaptured Sec. 1250 capital gain
2017	$	2.5000	$	0.4775	$	1.3927	$	0.4397	$	0.1901
2016	2.3800		—		1.8427		0.3929		0.1444
2015	2.2600		0.0972		2.1621		0.0004		0.0003

Tax Status of Dividends, Series J [Table Text Block]

Year	Dividends per Series J Preferred share declared		Ordinary income		Long term capital gain		Unrecaptured Sec. 1250 capital gain
2017	$	1.6250	$	1.0505	$	0.4011	$	0.1734
2016	1.6250		1.2581		0.2683		0.0986
2015	1.6250		1.6245		0.0003		0.0002

Tax Status of Dividends, Series K [Table Text Block]

Year	Dividends per Series K Preferred share declared		Ordinary income		Long term capital gain		Unrecaptured Sec. 1250 capital gain
2017	$	1.5625	$	1.0101	$	0.3857	$	0.1667
2016	1.5625		1.2097		0.2580		0.0948
2015	1.5625		1.5620		0.0003		0.0002