2023 Q1 Form 10-K Financial Statement

#000091224223000007 Filed on February 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $214.9M $228.2M $859.2M
YoY Change -0.6% -0.51% 1.38%
Cost Of Revenue $99.04M $97.31M $390.4M
YoY Change 1.61% -6.36% 2.49%
Gross Profit $115.8M $130.9M $468.8M
YoY Change -2.41% 4.32% 0.48%
Gross Profit Margin 53.9% 57.36% 54.57%
Selling, General & Admin $6.980M $7.082M $27.16M
YoY Change 1.72% -7.92% -9.62%
% of Gross Profit 6.03% 5.41% 5.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.04M $76.34M $302.5M
YoY Change -0.84% -7.97% -6.76%
% of Gross Profit 64.79% 58.31% 64.52%
Operating Expenses $78.43M $80.64M $318.8M
YoY Change -1.61% -7.66% -6.57%
Operating Profit $37.38M $50.28M $150.0M
YoY Change -4.04% 31.74% 19.68%
Interest Expense $39.42M -$48.00M $216.9M
YoY Change -23.98% -0.11% 12.55%
% of Operating Profit 105.47% -95.48% 144.53%
Other Income/Expense, Net
YoY Change
Pretax Income -$60.08M $3.204M -$64.37M
YoY Change 68.97% -111.65% -378.54%
Income Tax -$1.882M -$258.0K $705.0K
% Of Pretax Income -8.05%
Net Earnings -$58.73M $1.475M -$66.07M
YoY Change 57.96% -108.64% -563.21%
Net Earnings / Revenue -27.34% 0.65% -7.69%
Basic Earnings Per Share -$0.27 -$0.31
Diluted Earnings Per Share -$0.27 $0.01 -$0.31
COMMON SHARES
Basic Shares Outstanding 215.0M shares 214.8M shares 215.0M shares
Diluted Shares Outstanding 215.3M shares 215.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $112.2M $100.3M $100.3M
YoY Change -12.53% -10.79% -10.79%
Cash & Equivalents $112.2M $100.3M $100.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $168.7M $186.9M $186.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $280.8M $287.2M $287.2M
YoY Change -3.84% -11.3% -11.3%
LONG-TERM ASSETS
Property, Plant & Equipment $6.216B $6.254B $6.254B
YoY Change -2.19% -2.2% -2.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.089B $1.224B $1.224B
YoY Change -13.8% -7.08% -7.08%
Other Assets $118.5M $328.2M $328.2M
YoY Change 52.04% 321.24% 321.24%
Total Long-Term Assets $7.637B $7.807B $7.807B
YoY Change -3.55% -2.68% -2.68%
TOTAL ASSETS
Total Short-Term Assets $280.8M $287.2M $287.2M
Total Long-Term Assets $7.637B $7.807B $7.807B
Total Assets $7.918B $8.094B $8.094B
YoY Change -3.56% -3.01% -3.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $59.56M $63.11M $63.11M
YoY Change 2.67% 6.55% 6.55%
Accrued Expenses $333.4M $413.7M $413.7M
YoY Change 36.52% 60.18% 60.18%
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 $393.0M $476.8M $476.8M
YoY Change 30.02% 50.02% 50.02%
LONG-TERM LIABILITIES
Long-Term Debt $4.419B $4.547B $4.547B
YoY Change -4.22% -2.47% -2.47%
Other Long-Term Liabilities $250.4M $121.1M $121.1M
YoY Change 31.44% -36.21% -36.21%
Total Long-Term Liabilities $4.669B $4.668B $4.668B
YoY Change -2.81% -3.79% -3.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $393.0M $476.8M $476.8M
Total Long-Term Liabilities $4.669B $4.668B $4.668B
Total Liabilities $5.062B $5.145B $5.228B
YoY Change -0.86% -0.48% -1.33%
SHAREHOLDERS EQUITY
Retained Earnings -$2.739B -$2.643B
YoY Change 8.97% 8.16%
Common Stock $5.514B $5.508B
YoY Change 0.32% 0.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.776B $2.866B $2.866B
YoY Change
Total Liabilities & Shareholders Equity $7.918B $8.094B $8.094B
YoY Change -3.56% -3.01% -3.01%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$58.73M $1.475M -$66.07M
YoY Change 57.96% -108.64% -563.21%
Depreciation, Depletion And Amortization $75.04M $76.34M $302.5M
YoY Change -0.84% -7.97% -6.76%
Cash From Operating Activities $80.73M $52.52M $337.5M
YoY Change 23.36% -29.72% 17.86%
INVESTING ACTIVITIES
Capital Expenditures $14.87M $19.93M $77.18M
YoY Change -311.79% -862.07% -352.89%
Acquisitions
YoY Change
Other Investing Activities $133.0M -$28.12M $75.78M
YoY Change 146.47% 51.69% -71.46%
Cash From Investing Activities $118.2M -$48.05M -$1.402M
YoY Change 151.66% 127.13% -100.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$183.0K
YoY Change -100.02%
Debt Paid & Issued, Net $168.7M $334.1M
YoY Change 216.82% -83.46%
Cash From Financing Activities -$174.3M 11.69M -$321.9M
YoY Change 83.15% -119.58% -61.54%
NET CHANGE
Cash From Operating Activities $80.73M 52.52M $337.5M
Cash From Investing Activities $118.2M -48.05M -$1.402M
Cash From Financing Activities -$174.3M 11.69M -$321.9M
Net Change In Cash $24.55M 16.16M $14.17M
YoY Change 42.71% -363.3% -104.49%
FREE CASH FLOW
Cash From Operating Activities $80.73M $52.52M $337.5M
Capital Expenditures $14.87M $19.93M $77.18M
Free Cash Flow $65.86M $32.59M $260.3M
YoY Change -9.12% -57.86% -17.85%

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ShareBasedCompensation
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CY2022 mac Payments To Acquire Develop Redevelop Expansion And Renovation Real Estate
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CY2021 us-gaap Increase Decrease In Deferred Leasing Fees
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CY2022 mac Proceeds From Collection Of Receivable In Connection With Sale Of Joint Venture Property
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CY2021 mac Proceeds From Collection Of Receivable In Connection With Sale Of Joint Venture Property
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CY2021 mac Proceeds From Sale Of Partnership Interests Other Assets And Discontinued Operations Net
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CY2020 mac Proceeds From Sale Of Partnership Interests Other Assets And Discontinued Operations Net
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CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2022 us-gaap Payments To Minority Shareholders
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Interest Paid Net
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CY2021 us-gaap Interest Paid Net
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CY2020 us-gaap Interest Paid Net
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CY2022 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
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CY2020 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2022 us-gaap Conversion Of Stock Amount Converted1
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CY2022 mac Receivable In Connection With Sale Of Joint Venture Property
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CY2021 mac Receivable In Connection With Sale Of Joint Venture Property
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CY2020 mac Receivable In Connection With Sale Of Joint Venture Property
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 us-gaap Nature Of Operations
NatureOfOperations
Organization:<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="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="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="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 December 31, 2022, the Company was the sole general partner of and held a 96% 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="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="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 owned by the Company and are collectively referred to herein as the "Management Companies."</span></div>
CY2022 mac Number Of Real Estate Management Companies
NumberOfRealEstateManagementCompanies
7 entity
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
112454000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
465297000 usd
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
100005000 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
54517000 usd
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
17362000 usd
CY2019Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
14211000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166971000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
482659000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114216000 usd
CY2021 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
5873000 usd
CY2020 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
24789000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
100320000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
112454000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
465297000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
80819000 usd
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
54517000 usd
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
17362000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
181139000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166971000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
482659000 usd
CY2022 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-777000 usd
CY2022Q4 mac Threshold Ownership Percentage For Equity Method Accounting Only If No Controlling Financial Interest
ThresholdOwnershipPercentageForEquityMethodAccountingOnlyIfNoControllingFinancialInterest
0.50
CY2022 mac Number Of Forms Of In Place Operating Leases
NumberOfFormsOfInPlaceOperatingLeases
3 form
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q4 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
1 area
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Concentration of Risk:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains its cash accounts in a number of commercial banks. Accounts at these banks are guaranteed by the Federal Deposit Insurance Corporation ("FDIC") up to $250. At various times during the year, the Company had deposits in excess of the FDIC insurance limit.</span></div>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Management Estimates:</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-65079000 usd
CY2021 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
16163000 usd
CY2020 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-245462000 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
989000 usd
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1900000 usd
CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-15259000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-66068000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
14263000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-230203000 usd
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
856000 usd
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
856000 usd
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
853000 usd
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
853000 usd
CY2020 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1048000 usd
CY2020 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1048000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-66924000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-66924000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13410000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13410000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-231251000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-231251000 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215031000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
215031000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198070000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
198070000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146232000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
146232000 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.58
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.58
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
656000 usd
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
8184000 usd
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
843000 usd
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
656000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
0 usd
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
6000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
186767000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
191266000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
8920580000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
8847550000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
2792790000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
2563344000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
6127790000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
6284206000 usd
CY2022 us-gaap Depreciation Nonproduction
DepreciationNonproduction
271494000 usd
CY2021 us-gaap Depreciation Nonproduction
DepreciationNonproduction
282158000 usd
CY2020 us-gaap Depreciation Nonproduction
DepreciationNonproduction
287925000 usd
CY2022 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
15045000 usd
CY2021 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
67344000 usd
CY2020 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
76705000 usd
CY2022 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
7698000 usd
CY2021 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
75740000 usd
CY2020 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-68112000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
10741000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
14917000 usd
CY2022Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
110155000 usd
CY2021Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
110969000 usd
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
551459000 usd
CY2021 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
529227000 usd
CY2020 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
592858000 usd
CY2022 us-gaap Variable Lease Income
VariableLeaseIncome
248433000 usd
CY2021 us-gaap Variable Lease Income
VariableLeaseIncome
251930000 usd
CY2020 us-gaap Variable Lease Income
VariableLeaseIncome
191715000 usd
CY2022 us-gaap Provision For Lease Losses
ProvisionForLeaseLosses
-656000 usd
CY2021 us-gaap Provision For Lease Losses
ProvisionForLeaseLosses
-6390000 usd
CY2020 us-gaap Provision For Lease Losses
ProvisionForLeaseLosses
44250000 usd
CY2022 us-gaap Lease Income
LeaseIncome
800548000 usd
CY2021 us-gaap Lease Income
LeaseIncome
787547000 usd
CY2020 us-gaap Lease Income
LeaseIncome
740323000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
416775000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
352926000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
282439000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
228421000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
172400000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
537759000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1990720000 usd
CY2022 mac Finance Lease Number Of Leases
FinanceLeaseNumberOfLeases
5 lease
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
15133000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
14611000 usd
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
15332000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1930000 usd
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1917000 usd
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1905000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
499000 usd
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
574000 usd
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
546000 usd
CY2022 us-gaap Lease Cost
LeaseCost
17562000 usd
CY2021 us-gaap Lease Cost
LeaseCost
17102000 usd
CY2020 us-gaap Lease Cost
LeaseCost
17783000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12255000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2450000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11563000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
9478000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11746000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1400000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11864000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12035000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
109158000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
168621000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
13328000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
86315000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
723000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
82306000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
12605000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P32Y3M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.037
CY2022Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
113400000 usd
CY2021Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
134887000 usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
63961000 usd
CY2021Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
62826000 usd
CY2022Q4 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
17299000 usd
CY2021Q4 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
16710000 usd
CY2022Q4 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
71304000 usd
CY2021Q4 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
72289000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
23114000 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
23406000 usd
CY2022Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
54353000 usd
CY2021Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
68807000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
66188000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
46319000 usd
CY2022Q4 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
409619000 usd
CY2021Q4 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
425244000 usd
CY2022Q4 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
162195000 usd
CY2021Q4 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
170336000 usd
CY2022Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
247424000 usd
CY2021Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
254908000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
7863000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
7746000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
6183000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
4856000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
4542000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
25039000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
56229000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
4240596000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
4423554000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13830000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11946000 usd
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
10471000 usd
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
9504000 usd
CY2020 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
5247000 usd
CY2022Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
3894588000 usd
CY2021Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
4261429000 usd
CY2022Q4 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.063
CY2021Q4 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.058
CY2022Q4 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.078
CY2021Q4 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.073
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022 mac Minority Interest Redemption Value Basis Number Of Trading Days
MinorityInterestRedemptionValueBasisNumberOfTradingDays
10 trading_day
CY2022Q4 mac Minority Interest Redemption Value
MinorityInterestRedemptionValue
103023000 usd
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CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
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2563344000 usd
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2562133000 usd

Files In Submission

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