$MAC
MACERICH CO

2019 Q4 Form 10-Q Financial Statement

#000091224219000017 Filed on November 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $241.8M $231.1M $242.2M
YoY Change -2.04% -4.57% -0.1%
Cost Of Revenue $92.40M $92.00M $93.60M
YoY Change 8.07% -1.71% -4.1%
Gross Profit $149.5M $139.1M $148.6M
YoY Change -7.37% -6.39% 2.62%
Gross Profit Margin 61.82% 60.18% 61.35%
Selling, General & Admin $5.800M $5.300M $5.400M
YoY Change 1.75% -1.85% 1.89%
% of Gross Profit 3.88% 3.81% 3.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $85.80M $84.50M $83.60M
YoY Change -3.27% 1.08% -1.18%
% of Gross Profit 57.39% 60.75% 56.26%
Operating Expenses $89.80M $88.10M $87.30M
YoY Change -3.02% 0.92% -1.24%
Operating Profit $59.70M $51.00M $61.30M
YoY Change -13.23% -16.8% 8.69%
Interest Expense -$33.60M $14.80M $44.93M
YoY Change 28.74% -67.06% 3.84%
% of Operating Profit -56.28% 29.02% 73.29%
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income $29.60M $50.70M $81.70M
YoY Change 159.65% -37.94% 269.68%
Income Tax -$100.0K $678.0K $466.0K
% Of Pretax Income -0.34% 1.34% 0.57%
Net Earnings $26.90M $50.03M $81.24M
YoY Change 129.91% -38.42% 322.51%
Net Earnings / Revenue 11.12% 21.64% 33.54%
Basic Earnings Per Share $0.19 $0.33 $0.52
Diluted Earnings Per Share $0.19 $0.33 $0.52
COMMON SHARES
Basic Shares Outstanding 141.3M shares 141.4M shares 141.2M shares
Diluted Shares Outstanding 141.4M shares 141.2M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0M $98.00M $93.00M
YoY Change -2.91% 5.38% 30.99%
Cash & Equivalents $100.0M $98.31M $93.48M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $150.0M $139.0M $193.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $250.0M $237.0M $286.0M
YoY Change -19.87% -17.13% 8.75%
LONG-TERM ASSETS
Property, Plant & Equipment $6.792B $6.815B $6.821B
YoY Change 0.09% -0.09% -4.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.520B $1.437B $1.465B
YoY Change 1.81% -1.94% -13.23%
Other Assets $45.00M $40.00M $81.00M
YoY Change -43.04% -50.62% -15.63%
Total Long-Term Assets $8.604B $8.539B $8.725B
YoY Change -1.28% -2.13% -6.63%
TOTAL ASSETS
Total Short-Term Assets $250.0M $237.0M $286.0M
Total Long-Term Assets $8.604B $8.539B $8.725B
Total Assets $8.854B $8.776B $9.011B
YoY Change -1.92% -2.61% -6.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.00M $61.00M $61.00M
YoY Change -13.56% 0.0% -12.86%
Accrued Expenses $329.0M $319.0M $234.0M
YoY Change 31.08% 36.32% -22.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $380.0M $380.0M $295.0M
YoY Change 22.58% 28.81% -20.7%
LONG-TERM LIABILITIES
Long-Term Debt $5.498B $5.338B $5.257B
YoY Change 2.56% 1.54% 4.1%
Other Long-Term Liabilities $145.0M $150.0M $170.0M
YoY Change -13.17% -11.76% 14.86%
Total Long-Term Liabilities $5.643B $5.488B $5.427B
YoY Change 2.08% 1.12% 4.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $380.0M $380.0M $295.0M
Total Long-Term Liabilities $5.643B $5.488B $5.427B
Total Liabilities $6.023B $5.868B $5.723B
YoY Change 3.16% 2.54% 2.75%
SHAREHOLDERS EQUITY
Retained Earnings -$1.944B -$1.865B -$1.520B
YoY Change 20.42% 22.67% 100.35%
Common Stock $4.585B $4.583B $4.565B
YoY Change 0.36% 0.4% 1.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.632B $2.707B $3.044B
YoY Change
Total Liabilities & Shareholders Equity $8.854B $8.776B $9.011B
YoY Change -1.92% -2.61% -6.21%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $26.90M $50.03M $81.24M
YoY Change 129.91% -38.42% 322.51%
Depreciation, Depletion And Amortization $85.80M $84.50M $83.60M
YoY Change -3.27% 1.08% -1.18%
Cash From Operating Activities $83.20M $106.9M $82.30M
YoY Change -14.32% 29.89% -24.98%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$3.100M -$15.50M
YoY Change -100.0% -80.0% -11.93%
Acquisitions
YoY Change
Other Investing Activities -$128.6M $42.60M $5.400M
YoY Change 127.61% 688.89% -164.29%
Cash From Investing Activities -$128.6M $39.50M -$9.900M
YoY Change 60.95% -498.99% -62.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 52.40M -187.5M -70.70M
YoY Change -533.06% 165.21% -28.66%
NET CHANGE
Cash From Operating Activities 83.20M 106.9M 82.30M
Cash From Investing Activities -128.6M 39.50M -9.900M
Cash From Financing Activities 52.40M -187.5M -70.70M
Net Change In Cash 7.000M -41.10M 1.700M
YoY Change 37.25% -2517.65% -110.97%
FREE CASH FLOW
Cash From Operating Activities $83.20M $106.9M $82.30M
Capital Expenditures $0.00 -$3.100M -$15.50M
Free Cash Flow $83.20M $110.0M $97.80M
YoY Change -30.84% 12.47% -23.17%

Facts In Submission

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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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dei Document Type
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10-Q
dei Document Quarterly Report
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dei Document Transition Report
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dei Document Period End Date
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dei Entity File Number
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dei Entity Registrant Name
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MACERICH CO
dei Entity Incorporation State Country Code
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MD
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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401 Wilshire Boulevard,
dei Entity Address Address Line2
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Suite 700,
dei Entity Address City Or Town
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Santa Monica,
dei Entity Address State Or Province
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dei City Area Code
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dei Local Phone Number
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394-6000
dei Security12b Title
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Common Stock, $0.01 Par Value
dei Trading Symbol
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MAC
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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us-gaap Profit Loss
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mac Gain Losson Saleor Write Downof Assets
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mac Gain Losson Saleor Write Downof Assets
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Amortization Of Debt Discount Premium
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mac Straight Line Rent Adjustmentsand Amortizationofaboveandbelow Market Leases
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-12447000 USD
mac Straight Line Rent Adjustmentsand Amortizationofaboveandbelow Market Leases
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us-gaap Provision For Doubtful Accounts
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us-gaap Increase Decrease In Other Accrued Liabilities
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mac Distributions Of Capital From Unconsolidated Entities And Other
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us-gaap Payments To Acquire Interest In Joint Venture
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us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
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mac Proceeds From Sale Of Partnership Interests Other Assets And Discontinued Operations Net
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ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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us-gaap Repayments Of Long Term Debt And Capital Securities
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us-gaap Repayments Of Long Term Debt And Capital Securities
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mac Joint Venture Distributionsin Excessof Loan Proceeds
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mac Joint Venture Distributionsin Excessof Loan Proceeds
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us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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us-gaap Proceeds From Stock Plans
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us-gaap Payments To Minority Shareholders
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
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us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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us-gaap Notes Assumed1
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us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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us-gaap Conversion Of Stock Amount Converted1
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75000 USD
us-gaap Nature Of Operations
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Organization:<div style="text-indent:24.75pt;margin-top:8pt;margin-bottom:8pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The Macerich Company (the "Company") is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers (the "Centers") located throughout the United States.</span></div><div style="text-indent:24.75pt;margin-top:8pt;margin-bottom:8pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The Company commenced operations effective with the completion of its initial public offering on March 16, 1994. As of September 30, 2019, the Company was the sole general partner of and held a 93% ownership interest in The Macerich Partnership, L.P. (the "Operating Partnership"). The Company was organized to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code").</span></div><div style="text-indent:24.75pt;margin-top:8pt;margin-bottom:8pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, Macerich Property Management Company, LLC, a single member Delaware limited liability company, Macerich Management Company, a California corporation, Macerich Arizona Partners LLC, a single member Arizona limited liability company, Macerich Arizona Management LLC, a single member Delaware limited liability company, Macerich Partners of Colorado LLC, a single member Colorado limited liability company, MACW Mall Management, Inc., a New York corporation, and MACW Property Management, LLC, a single member New York limited liability company. All seven of the management companies are collectively referred to herein as the "Management Companies."</span></div><div style="text-indent:24.75pt;margin-top:8pt;margin-bottom:8pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">All references to the Company in this Quarterly Report on Form 10-Q include the Company, those entities owned or controlled by the Company and predecessors of the Company, unless the context indicates otherwise.</span></div>
mac Number Of Real Estate Management Companies
NumberOfRealEstateManagementCompanies
7 entity
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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143105000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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93479000 USD
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50621000 USD
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107268000 USD
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144100000 USD
us-gaap Unsolicited Tender Offer Costs
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19369000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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50025000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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81241000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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72815000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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55726000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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3654000 USD
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7213000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2886000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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7455000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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46371000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
74028000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
69929000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
48271000 USD
CY2019Q3 mac Undistributed Earnings Loss Allocatedto Participating Securities Basicand Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted
297000 USD
CY2018Q3 mac Undistributed Earnings Loss Allocatedto Participating Securities Basicand Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted
278000 USD
mac Undistributed Earnings Loss Allocatedto Participating Securities Basicand Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted
869000 USD
mac Undistributed Earnings Loss Allocatedto Participating Securities Basicand Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted
824000 USD
CY2019Q3 mac Net Income Loss Availableto Common Stockholdersafter Allocationto Participating Securities Basicand Diluted
NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted
46074000 USD
CY2018Q3 mac Net Income Loss Availableto Common Stockholdersafter Allocationto Participating Securities Basicand Diluted
NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted
73750000 USD
mac Net Income Loss Availableto Common Stockholdersafter Allocationto Participating Securities Basicand Diluted
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69060000 USD
mac Net Income Loss Availableto Common Stockholdersafter Allocationto Participating Securities Basicand Diluted
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47447000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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141368000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141196000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141325000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141120000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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5000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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141368000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141196000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141325000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141125000 shares
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2019Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-154000 USD
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
175000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-6480000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
184000 USD
CY2019Q3 us-gaap Land
Land
1508445000 USD
CY2018Q4 us-gaap Land
Land
1506678000 USD
CY2019Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
6315465000 USD
CY2018Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
6288308000 USD
CY2019Q3 us-gaap Tenant Improvements
TenantImprovements
708230000 USD
CY2018Q4 us-gaap Tenant Improvements
TenantImprovements
678110000 USD
CY2019Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
214065000 USD
CY2018Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
206398000 USD
CY2019Q3 us-gaap Development In Process
DevelopmentInProcess
204172000 USD
CY2018Q4 us-gaap Development In Process
DevelopmentInProcess
199326000 USD
CY2019Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8950377000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8878820000 USD
CY2019Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2286271000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2093044000 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6664106000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6785776000 USD
CY2019Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
72519000 USD
CY2018Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
69237000 USD
us-gaap Depreciation Nonproduction
DepreciationNonproduction
214689000 USD
us-gaap Depreciation Nonproduction
DepreciationNonproduction
204031000 USD
CY2019Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
212000 USD
CY2018Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
1786000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
16121000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
50578000 USD
CY2019Q3 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-131000 USD
CY2018Q3 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
46516000 USD
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-15506000 USD
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-514000 USD
CY2018Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
72700000 USD
CY2019Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
4634000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
2919000 USD
CY2019Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
78783000 USD
CY2018Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
72456000 USD
CY2019Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
159356000 USD
CY2018Q3 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
164351000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
482194000 USD
us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
494096000 USD
CY2019Q3 us-gaap Variable Lease Income
VariableLeaseIncome
54904000 USD
CY2018Q3 us-gaap Operating Leases Income Statement Contingent Revenue
OperatingLeasesIncomeStatementContingentRevenue
59900000 USD
us-gaap Variable Lease Income
VariableLeaseIncome
154096000 USD
us-gaap Operating Leases Income Statement Contingent Revenue
OperatingLeasesIncomeStatementContingentRevenue
165281000 USD
CY2019Q3 us-gaap Lease Income
LeaseIncome
214260000 USD
CY2018Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
224251000 USD
us-gaap Lease Income
LeaseIncome
636290000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
659377000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Rolling Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextRollingTwelveMonths
490897000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Two
LessorOperatingLeasePaymentsToBeReceivedRollingYearTwo
414722000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Three
LessorOperatingLeasePaymentsToBeReceivedRollingYearThree
363264000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Four
LessorOperatingLeasePaymentsToBeReceivedRollingYearFour
313166000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedRollingYearFive
255316000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received After Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedAfterRollingYearFive
753888000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
2591253000 USD
mac Finance Lease Numberof Leases
FinanceLeaseNumberofLeases
4 lease
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3466000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
12675000 USD
CY2019Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
475000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1407000 USD
CY2019Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
145000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
453000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
4086000 USD
us-gaap Lease Cost
LeaseCost
14535000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4521000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
505000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
16627000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Remainder Of Fiscal Year
CapitalLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2106000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
17149000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2106000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
17183000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
2106000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17004000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
10440000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
17124000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
10440000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16867000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2418000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
17450000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
2418000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
11055000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
11390000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
140415000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
140562000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
207011000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
15469000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
220336000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
17070000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
104124000 USD
CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1673000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
102887000 USD
CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
13796000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P31Y
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M24D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.077
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.042
CY2019Q3 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
203843000 USD
CY2018Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
226885000 USD
CY2019Q3 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
82777000 USD
CY2018Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
94966000 USD
CY2019Q3 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
21019000 USD
CY2018Q4 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
23508000 USD
CY2019Q3 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
62679000 USD
CY2018Q4 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
140889000 USD
CY2019Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
30643000 USD
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
32197000 USD
CY2019Q3 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
52006000 USD
CY2018Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
45857000 USD
CY2019Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
51655000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
75497000 USD
CY2019Q3 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
504622000 USD
CY2018Q4 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
639799000 USD
CY2019Q3 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
226823000 USD
CY2018Q4 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
249396000 USD
CY2019Q3 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
277799000 USD
CY2018Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
390403000 USD
CY2019Q3 mac Secured Debt Nonrelated Party
SecuredDebtNonrelatedParty
4294633000 USD
CY2018Q4 mac Secured Debt Nonrelated Party
SecuredDebtNonrelatedParty
4073916000 USD
CY2019Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
12202000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13053000 USD
CY2019Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2704000 USD
CY2018Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
3751000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
7557000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
12752000 USD
CY2019Q3 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
4357015000 USD
CY2018Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
4082448000 USD
CY2019Q3 mac Line Of Credit Facility Number Of Extension Periods
LineOfCreditFacilityNumberOfExtensionPeriods
1 extension_period
CY2019Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
749719000 USD
CY2018Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
589719000 USD
CY2019Q3 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.050
CY2018Q4 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.048
CY2019Q3 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.060
CY2018Q4 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.058
CY2019Q2 mac Joint Venture Distributionsin Excessof Loan Proceeds
JointVentureDistributionsinExcessofLoanProceeds
27945000 USD
CY2018Q1 mac Joint Venture Ownership Percentby Other Owners
JointVentureOwnershipPercentbyOtherOwners
0.75
CY2018Q3 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
142500000 USD
mac Reimbursement Percent Collaborative Arrangement
ReimbursementPercentCollaborativeArrangement
0.75
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
mac Minority Interest Redemption Value Basis Number Of Trading Days
MinorityInterestRedemptionValueBasisNumberOfTradingDays
P10D
CY2019Q3 mac Minority Interest Redemption Value
MinorityInterestRedemptionValue
334845000 USD
CY2018Q4 mac Minority Interest Redemption Value
MinorityInterestRedemptionValue
448116000 USD
CY2017Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
CY2019Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
278707000 USD
CY2018Q1 mac Joint Venture Ownership Percent
JointVentureOwnershipPercent
0.25
mac Reimbursement Percent Collaborative Arrangement
ReimbursementPercentCollaborativeArrangement
0.75
mac Reimbursement Percent Collaborative Arrangement
ReimbursementPercentCollaborativeArrangement
0.75
CY2019Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
100814000 USD
CY2019Q3 us-gaap Construction Payable Current
ConstructionPayableCurrent
12277000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3315000 USD
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4616000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13353000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28219000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
993000 USD
CY2018Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1062000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3598000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
5575000 USD
CY2019Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
89000 USD
CY2018Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-83000 USD
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-439000 USD
CY2019Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
589000 USD
CY2018Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
466000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1786000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1360000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
678000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
466000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1703000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1799000 USD
CY2019Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
30643000 USD
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
32197000 USD

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