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Investments in Unconsolidated Joint Ventures (Tables)
 9 Months Ended
Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Combined and condensed balance sheets of unconsolidated joint ventures
Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:
 
September 30,
2018
 
December 31,
2017
Assets(1):
 
 
 
Property, net
$
9,212,359

 
$
9,052,105

Other assets
717,509

 
635,838

Total assets
$
9,929,868

 
$
9,687,943

Liabilities and partners' capital(1):
 
 
 
Mortgage and other notes payable(2)
$
6,064,931

 
$
5,296,594

Other liabilities
390,211

 
405,052

Company's capital
1,893,278

 
2,188,057

Outside partners' capital
1,581,448

 
1,798,240

Total liabilities and partners' capital
$
9,929,868

 
$
9,687,943

Investments in unconsolidated joint ventures:
 
 
 
Company's capital
$
1,893,278

 
$
2,188,057

Basis adjustment(3)
(543,403
)
 
(562,021
)
 
$
1,349,875

 
$
1,626,036

 
 
 
 
Assets—Investments in unconsolidated joint ventures
$
1,465,174

 
$
1,709,522

Liabilities—Distributions in excess of investments in unconsolidated joint ventures
(115,299
)
 
(83,486
)
 
$
1,349,875

 
$
1,626,036

 
 
 
(1)
These amounts include the assets of $3,047,915 and $3,106,105 of Pacific Premier Retail LLC (the "PPR Portfolio") as of September 30, 2018 and December 31, 2017, respectively, and liabilities of $1,856,185 and $1,872,227 of the PPR Portfolio as of September 30, 2018 and December 31, 2017, respectively.
(2)
Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of $699,437 and $482,332 as of September 30, 2018 and December 31, 2017, respectively. NML is considered a related party because it was a joint venture partner with the Company in Macerich Northwestern Associates—Broadway Plaza until October 12, 2018. Interest expense on these borrowings was $7,148 and $4,903 for the three months ended September 30, 2018 and 2017, respectively, and $19,264 and $12,992 for the nine months ended September 30, 2018 and 2017, respectively.
(3)
The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was $1,160 and $4,227 for the three months ended September 30, 2018 and 2017, respectively, and $8,787 and $12,451 for the nine months ended September 30, 2018 and 2017, respectively.
Combined and condensed statements of operations of unconsolidated joint ventures
Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:
 
PPR Portfolio
 
Other
Joint
Ventures
 
Total
Three Months Ended September 30, 2018
 
 
 
 
 
Revenues:
 
 
 
 
 
Minimum rents
$
32,999

 
$
123,799

 
$
156,798

Percentage rents
1,012

 
4,591

 
5,603

Tenant recoveries
11,884

 
47,286

 
59,170

Other
991

 
13,081

 
14,072

Total revenues
46,886

 
188,757

 
235,643

Expenses:
 
 
 
 
 
Shopping center and operating expenses
9,893

 
61,528

 
71,421

Interest expense
16,680

 
37,968

 
54,648

Depreciation and amortization
24,582

 
61,323

 
85,905

Total operating expenses
51,155

 
160,819

 
211,974

(Loss) gain on sale or write down of assets, net
(47
)
 
12,622

 
12,575

Net (loss) income
$
(4,316
)
 
$
40,560

 
$
36,244

Company's equity in net (loss) income
$
(148
)
 
$
18,937

 
$
18,789

Three Months Ended September 30, 2017
 
 
 
 
 
Revenues:
 
 
 
 
 
Minimum rents
$
35,052

 
$
123,663

 
$
158,715

Percentage rents
903

 
3,953

 
4,856

Tenant recoveries
12,015

 
47,841

 
59,856

Other
1,713

 
12,329

 
14,042

Total revenues
49,683

 
187,786

 
237,469

Expenses:
 
 
 
 
 
Shopping center and operating expenses
10,591

 
60,394

 
70,985

Interest expense
16,890

 
33,214

 
50,104

Depreciation and amortization
25,449

 
62,958

 
88,407

Total operating expenses
52,930

 
156,566

 
209,496

Gain on sale or write down of assets, net
—

 
13,426

 
13,426

Net (loss) income
$
(3,247
)
 
$
44,646

 
$
41,399

Company's equity in net income
$
620

 
$
23,373

 
$
23,993



 
PPR Portfolio
 
 
Other
Joint
Ventures
 
Total
Nine Months Ended September 30, 2018
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
Minimum rents
$
98,619

 
 
$
375,447

 
$
474,066

Percentage rents
1,713

 
 
7,664

 
9,377

Tenant recoveries
34,684

 
 
142,702

 
177,386

Other
3,252

 
 
39,145

 
42,397

Total revenues
138,268

 
 
564,958

 
703,226

Expenses:
 
 
 
 
 
 
Shopping center and operating expenses
29,091

 
 
183,174

 
212,265

Interest expense
50,176

 
 
108,356

 
158,532

Depreciation and amortization
73,137

 
 
184,708

 
257,845

Total operating expenses
152,404

 
 
476,238

 
628,642

(Loss) gain on sale or write down of assets, net
(47
)
 
 
14,151

 
14,104

Net (loss) income
$
(14,183
)
 
 
$
102,871

 
$
88,688

Company's equity in net (loss) income
$
(1,021
)
 
 
$
52,351

 
$
51,330

Nine Months Ended September 30, 2017
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
Minimum rents
$
100,633

 
 
$
373,931

 
$
474,564

Percentage rents
1,854

 
 
7,817

 
9,671

Tenant recoveries
34,827

 
 
141,875

 
176,702

Other
4,141

 
 
36,857

 
40,998

Total revenues
141,455

 
 
560,480

 
701,935

Expenses:
 
 
 
 
 
 
Shopping center and operating expenses
30,062

 
 
181,475

 
211,537

Interest expense
50,291

 
 
98,469

 
148,760

Depreciation and amortization
76,527

 
 
187,927

 
264,454

Total operating expenses
156,880

 
 
467,871

 
624,751

(Loss) gain on sale or write down of assets, net
(35
)
 
 
18,005

 
17,970

Net (loss) income
$
(15,460
)
 
 
$
110,614

 
$
95,154

Company's equity in net (loss) income
$
(1,376
)
 
 
$
58,148

 
$
56,772