2020 Q1 Form 10-Q Financial Statement

#000091224220000007 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $227.0M $226.5M
YoY Change 0.19% -4.31%
Cost Of Revenue $94.40M $96.10M
YoY Change -1.77% -14.8%
Gross Profit $132.6M $130.4M
YoY Change 1.69% 5.25%
Gross Profit Margin 58.43% 57.57%
Selling, General & Admin $6.800M $7.000M
YoY Change -2.86% -12.5%
% of Gross Profit 5.13% 5.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $83.83M $83.23M
YoY Change 0.71% 2.1%
% of Gross Profit 63.22% 63.83%
Operating Expenses $89.00M $88.40M
YoY Change 0.68% 0.45%
Operating Profit $43.60M $42.00M
YoY Change 3.81% 16.99%
Interest Expense $8.074M $38.36M
YoY Change -78.95% -27.13%
% of Operating Profit 18.52% 91.33%
Other Income/Expense, Net
YoY Change
Pretax Income $8.500M $9.200M
YoY Change -7.61% -124.66%
Income Tax -$266.0K $346.0K
% Of Pretax Income -3.13% 3.76%
Net Earnings $8.731M $8.843M
YoY Change -1.27% -125.72%
Net Earnings / Revenue 3.85% 3.9%
Basic Earnings Per Share $0.05 $0.05
Diluted Earnings Per Share $0.05 $0.05
COMMON SHARES
Basic Shares Outstanding 141.4M shares 141.3M shares
Diluted Shares Outstanding 141.4M shares 141.3M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $652.0M $111.0M
YoY Change 487.39% -5.93%
Cash & Equivalents $652.4M $111.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $143.0M $120.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $795.0M $231.0M
YoY Change 244.16% -22.22%
LONG-TERM ASSETS
Property, Plant & Equipment $6.702B $6.893B
YoY Change -2.77% -0.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.541B $1.528B
YoY Change 0.83% 12.32%
Other Assets $42.00M $75.00M
YoY Change -44.0% -66.52%
Total Long-Term Assets $8.505B $8.772B
YoY Change -3.05% -1.0%
TOTAL ASSETS
Total Short-Term Assets $795.0M $231.0M
Total Long-Term Assets $8.505B $8.772B
Total Assets $9.300B $9.003B
YoY Change 3.3% -1.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $67.00M $59.00M
YoY Change 13.56% -11.94%
Accrued Expenses $261.0M $319.0M
YoY Change -18.18% 43.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $328.0M $378.0M
YoY Change -13.23% 30.34%
LONG-TERM LIABILITIES
Long-Term Debt $6.106B $5.375B
YoY Change 13.6% 1.38%
Other Long-Term Liabilities $142.0M $164.0M
YoY Change -13.41% 5.13%
Total Long-Term Liabilities $6.248B $5.539B
YoY Change 12.8% 1.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $328.0M $378.0M
Total Long-Term Liabilities $6.248B $5.539B
Total Liabilities $6.575B $5.918B
YoY Change 11.11% 2.94%
SHAREHOLDERS EQUITY
Retained Earnings -$2.043B -$1.715B
YoY Change 19.12% 23.06%
Common Stock $4.592B $4.576B
YoY Change 0.35% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.534B $2.855B
YoY Change
Total Liabilities & Shareholders Equity $9.300B $9.003B
YoY Change 3.3% -1.69%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $8.731M $8.843M
YoY Change -1.27% -125.72%
Depreciation, Depletion And Amortization $83.83M $83.23M
YoY Change 0.71% 2.1%
Cash From Operating Activities $49.70M $98.84M
YoY Change -49.72% 4.08%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M -$8.800M
YoY Change -79.55% 76.0%
Acquisitions
YoY Change
Other Investing Activities -$39.60M $7.600M
YoY Change -621.05% -97.6%
Cash From Investing Activities -$41.41M -$1.222M
YoY Change 3288.63% -100.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $8.676M $397.4M
YoY Change -97.82%
Cash From Financing Activities $540.6M -$92.84M
YoY Change -682.27% -75.67%
NET CHANGE
Cash From Operating Activities $49.70M $98.84M
Cash From Investing Activities -$41.41M -$1.222M
Cash From Financing Activities $540.6M -$92.84M
Net Change In Cash $548.9M $4.774M
YoY Change 11397.51% -80.71%
FREE CASH FLOW
Cash From Operating Activities $49.70M $98.84M
Capital Expenditures -$1.800M -$8.800M
Free Cash Flow $51.50M $107.6M
YoY Change -52.16% 7.67%

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CY2019Q1 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
14265000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11673000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-16867000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1037000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2020Q1 us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
4766000 USD
CY2019Q1 us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
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CY2020Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
15937000 USD
CY2019Q1 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
8715000 USD
CY2020Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-49759000 USD
CY2019Q1 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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49700000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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98840000 USD
CY2020Q1 mac Payments To Acquire Develop Redevelop Expansion And Renovation Real Estate
PaymentsToAcquireDevelopRedevelopExpansionAndRenovationRealEstate
26406000 USD
CY2019Q1 mac Payments To Acquire Develop Redevelop Expansion And Renovation Real Estate
PaymentsToAcquireDevelopRedevelopExpansionAndRenovationRealEstate
28256000 USD
CY2020Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
1845000 USD
CY2019Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
8827000 USD
CY2020Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2019Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
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CY2020Q1 us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
981000 USD
CY2019Q1 us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
8848000 USD
CY2020Q1 mac Distributions Of Capital From Unconsolidated Entities And Other
DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther
21693000 USD
CY2019Q1 mac Distributions Of Capital From Unconsolidated Entities And Other
DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther
41439000 USD
CY2020Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
33870000 USD
CY2019Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
63093000 USD
CY2020Q1 mac Proceeds From Sale Of Partnership Interests Other Assets And Discontinued Operations Net
ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet
0 USD
CY2019Q1 mac Proceeds From Sale Of Partnership Interests Other Assets And Discontinued Operations Net
ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet
1015000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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-41409000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
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-1222000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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660000000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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425000000 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
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8676000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
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397358000 USD
CY2020Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2019Q1 us-gaap Payments Of Financing Costs
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965000 USD
CY2020Q1 mac Proceeds From Finance Lease
ProceedsFromFinanceLease
4115000 USD
CY2019Q1 mac Proceeds From Finance Lease
ProceedsFromFinanceLease
0 USD
CY2020Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
290000 USD
CY2019Q1 us-gaap Finance Lease Principal Payments
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278000 USD
CY2020Q1 mac Payment Of Finance Deposits
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0 USD
CY2019Q1 mac Payment Of Finance Deposits
PaymentOfFinanceDeposits
4820000 USD
CY2020Q1 us-gaap Payments To Minority Shareholders
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2000 USD
CY2019Q1 us-gaap Payments To Minority Shareholders
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27000 USD
CY2020Q1 us-gaap Proceeds From Minority Shareholders
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125000 USD
CY2019Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
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114672000 USD
CY2019Q4 us-gaap Restricted Cash Current
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14211000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
540600000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
548891000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4774000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114216000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149301000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
663107000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
154075000 USD
CY2020Q1 us-gaap Interest Paid Net
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52989000 USD
CY2019Q1 us-gaap Interest Paid Net
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50650000 USD
CY2020Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2019Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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42539000 USD
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5797000 USD
CY2019Q1 us-gaap Conversion Of Stock Amount Converted1
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1005000 USD
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CY2020Q1 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',sans-serif;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',sans-serif;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 March 31, 2020, 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',sans-serif;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',sans-serif;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>
CY2020Q1 mac Number Of Real Estate Management Companies
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7 entity
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
100005000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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114216000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149301000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
652354000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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111022000 USD
CY2020Q1 us-gaap Restricted Cash Current
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10753000 USD
CY2019Q1 us-gaap Restricted Cash Current
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43053000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
663107000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
154075000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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8731000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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8843000 USD
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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1209000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1019000 USD
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7522000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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7824000 USD
CY2020Q1 mac Undistributed Earnings Loss Allocatedto Participating Securities Basicand Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted
322000 USD
CY2019Q1 mac Undistributed Earnings Loss Allocatedto Participating Securities Basicand Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted
281000 USD
CY2020Q1 mac Net Income Loss Availableto Common Stockholdersafter Allocationto Participating Securities Basicand Diluted
NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted
7200000 USD
CY2019Q1 mac Net Income Loss Availableto Common Stockholdersafter Allocationto Participating Securities Basicand Diluted
NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted
7543000 USD
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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141437000 shares
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
141262000 shares
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.05
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.05
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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CY2020Q1 us-gaap Land
Land
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CY2019Q4 us-gaap Land
Land
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CY2020Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
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CY2019Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
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CY2020Q1 us-gaap Tenant Improvements
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CY2019Q4 us-gaap Tenant Improvements
TenantImprovements
726533000 USD
CY2020Q1 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
227117000 USD
CY2019Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
230215000 USD
CY2020Q1 us-gaap Development In Process
DevelopmentInProcess
92042000 USD
CY2019Q4 us-gaap Development In Process
DevelopmentInProcess
126165000 USD
CY2020Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
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CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
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CY2020Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
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CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2349536000 USD
CY2020Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
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CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
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CY2020Q1 us-gaap Depreciation Nonproduction
DepreciationNonproduction
72687000 USD
CY2019Q1 us-gaap Depreciation Nonproduction
DepreciationNonproduction
70717000 USD
CY2020Q1 us-gaap Impairment Of Real Estate
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36703000 USD
CY2019Q1 us-gaap Impairment Of Real Estate
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6850000 USD
CY2020Q1 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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-36703000 USD
CY2019Q1 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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CY2019Q1 us-gaap Assets Fair Value Disclosure
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140000000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
4836000 USD
CY2020Q1 us-gaap Deferred Rent Receivables Net
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CY2019Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
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CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
159557000 USD
CY2019Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
164061000 USD
CY2020Q1 us-gaap Variable Lease Income
VariableLeaseIncome
51164000 USD
CY2019Q1 us-gaap Variable Lease Income
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46947000 USD
CY2020Q1 us-gaap Lease Income
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CY2020Q1 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2019Q1 us-gaap Lease Income
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CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Rolling Twelve Months
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CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Two
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CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Three
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CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Four
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CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedRollingYearFive
226663000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received After Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedAfterRollingYearFive
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CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
2356749000 USD
CY2020Q1 mac Finance Lease Numberof Leases
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CY2020Q1 us-gaap Operating Lease Cost
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3938000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2019Q1 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2020Q1 us-gaap Finance Lease Interest Expense
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CY2020Q1 us-gaap Lease Cost
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CY2019Q1 us-gaap Lease Cost
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2020Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Two
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CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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16867000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Three
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2762000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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16867000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2418000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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11055000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Four
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344000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9068000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
3085000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9068000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
131347000 USD
CY2020Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
131347000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q1 us-gaap Finance Lease Liability Payments Due
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19018000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2019Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
14965000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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100100000 USD
CY2020Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
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1397000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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102085000 USD
CY2019Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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1169000 USD
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98278000 USD
CY2020Q1 us-gaap Finance Lease Liability
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17621000 USD
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100405000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
13796000 USD
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P31Y
CY2020Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P1Y3M18D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P31Y
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.077
CY2020Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.032
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.077
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.042
CY2020Q1 us-gaap Deferred Costs Leasing Gross
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179355000 USD
CY2019Q4 us-gaap Deferred Costs Leasing Gross
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202540000 USD
CY2020Q1 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
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66561000 USD
CY2019Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
78171000 USD
CY2020Q1 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
18080000 USD
CY2019Q4 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
20518000 USD
CY2020Q1 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
56377000 USD
CY2019Q4 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
59916000 USD
CY2020Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
30789000 USD
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
30757000 USD
CY2020Q1 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
44458000 USD
CY2019Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
55349000 USD
CY2020Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
55018000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
60475000 USD
CY2020Q1 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
450638000 USD
CY2019Q4 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
507726000 USD
CY2020Q1 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
199990000 USD
CY2019Q4 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
229860000 USD
CY2020Q1 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
250648000 USD
CY2019Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
277866000 USD
CY2020Q1 mac Secured Debt Nonrelated Party
SecuredDebtNonrelatedParty
4384680000 USD
CY2019Q4 mac Secured Debt Nonrelated Party
SecuredDebtNonrelatedParty
4392599000 USD
CY2020Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
15053000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
16042000 USD
CY2020Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1295000 USD
CY2019Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2710000 USD
CY2020Q1 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
4445146000 USD
CY2019Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
4427790000 USD
CY2020Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
19719000 USD
CY2019Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
679719000 USD
CY2020Q1 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.053
CY2019Q4 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.050
CY2020Q1 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.068
CY2019Q4 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.060
CY2019Q2 mac Joint Venture Distributionsin Excessof Loan Proceeds
JointVentureDistributionsinExcessofLoanProceeds
27945000 USD
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q1 mac Minority Interest Redemption Value Basis Number Of Trading Days
MinorityInterestRedemptionValueBasisNumberOfTradingDays
P10D
CY2020Q1 mac Minority Interest Redemption Value
MinorityInterestRedemptionValue
71267000 USD
CY2019Q4 mac Minority Interest Redemption Value
MinorityInterestRedemptionValue
277524000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.50
CY2020Q1 mac Common Stock Maximum Cash Dividend Rate Percentage
CommonStockMaximumCashDividendRatePercentage
0.20
CY2020Q1 mac Common Stock Maximum Cash Dividends Per Share Declared
CommonStockMaximumCashDividendsPerShareDeclared
0.10
CY2017Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
CY2020Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
278707000 USD
CY2020Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
40814000 USD
CY2020Q1 us-gaap Construction Payable Current
ConstructionPayableCurrent
7290000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
552866 shares
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-32000 USD
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
346000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-266000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
346000 USD
CY2020Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
30789000 USD
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
30757000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5603000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6665000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1379000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1146000 USD
CY2020Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-234000 USD
CY2019Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 USD

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