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Segment Information
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
The Company measures performance and allocates resources according to property type, which is determined based on certain criteria such as type of tenants, capital requirements, economic risks, leasing terms, and short and long-term returns on capital. Rental income and tenant reimbursements from tenant leases provide the majority of revenues from all segments. Information on the Company’s reportable segments is presented as follows:
Three Months Ended March 31, 2017
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
221,931

 
$
9,716

 
$
4,564

 
$
1,802

 
$
238,013

Property operating expenses (2)
 
(66,530
)
 
(1,914
)
 
(725
)
 
(1,180
)
 
(70,349
)
Interest expense
 
(33,245
)
 
(642
)
 
(76
)
 
(22,238
)
 
(56,201
)
Gain on sales of real estate assets
 
—

 
—

 
—

 
5,988

 
5,988

Segment profit (loss)
 
$
122,156

 
$
7,160

 
$
3,763

 
$
(15,628
)
 
117,451

Depreciation and amortization expense
 
 
 
 
 
 
 
 
 
(71,220
)
General and administrative expense
 
 
 
 
 
 
 
 
 
(16,082
)
Interest and other income
 
 
 
 
 
 
 
 
 
1,404

Gain on extinguishment of debt
 
 
 
 
 
 
 
 
 
4,055

Loss on impairment
 
 
 
 
 
 
 
 
 
(3,263
)
Income tax benefit
 
 
 
 
 
 
 
 
 
800

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
 
 
 
 
5,373

Net income
 
 
 
 
 
 
 
 
 
$
38,518

Capital expenditures (3)
 
$
40,696

 
$
567

 
$
465

 
$
2,128

 
$
43,856

Three Months Ended March 31, 2016
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
Revenues
 
$
238,742

 
$
10,242

 
$
5,482

 
$
8,612

 
$
263,078

Property operating expenses (2)
 
(75,377
)
 
(2,572
)
 
(1,143
)
 
2,888

 
(76,204
)
Interest expense
 
(34,395
)
 
(1,702
)
 
(298
)
 
(18,836
)
 
(55,231
)
Other expense
 
—

 
—

 
—

 
(9,685
)
 
(9,685
)
Segment profit (loss)
 
$
128,970

 
$
5,968

 
$
4,041

 
$
(17,021
)
 
121,958

Depreciation and amortization expense
 
 

 
 

 
 

 
 

 
(76,506
)
General and administrative expense
 
 

 
 

 
 

 
 

 
(17,168
)
Interest and other income
 
 

 
 

 
 

 
 

 
360

Gain on extinguishment of debt
 
 
 
 
 
 
 
 
 
6

Loss on impairment
 
 
 
 
 
 
 
 
 
(19,685
)
Income tax benefit
 
 

 
 

 
 

 
 

 
537

Equity in earnings of unconsolidated affiliates
 
 
 
 
 
 
 
 
 
32,390

Net income
 
 

 
 

 
 

 
 

 
$
41,892

Capital expenditures (3)
 
$
48,551

 
$
1,426

 
$
428

 
$
741

 
$
51,146

Total Assets
 
Malls
 
Associated
Centers
 
Community
Centers
 
All Other (1)
 
Total
March 31, 2017
 
$
5,376,810

 
$
249,857

 
$
239,745

 
$
259,737

 
$
6,126,149

 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
$
5,383,937

 
$
259,966

 
$
215,917

 
$
244,820

 
$
6,104,640

 
 
 
 
 
 
 
 
 
 
 
(1)
The All Other category includes mortgage and other notes receivable, office buildings, the Management Company and, prior to the redemption of the Company's redeemable noncontrolling interests during the fourth quarter of 2016, the Company’s former consolidated subsidiary that provided security and maintenance services to third parties.
(2)
Property operating expenses include property operating, real estate taxes and maintenance and repairs.
(3)
Amounts include acquisitions of real estate assets and investments in unconsolidated affiliates. Developments in progress are included in the All Other category.