Brixmor Property (BRX) 10-Q 29 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 01, 2019
Entity Registrant Name	Brixmor Property Group Inc.
Entity Central Index Key	0001581068
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		297,987,158
Brixmor Operating Partnership LP
Entity Registrant Name	Brixmor Operating Partnership LP
Entity Central Index Key	0001630031
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Real estate
Land	$ 1,794,709	$ 1,804,504
Buildings and improvements	8,279,076	8,294,273
Real estate, gross	10,073,785	10,098,777
Accumulated depreciation and amortization	(2,386,092)	(2,349,127)
Real estate, net	7,687,693	7,749,650
Cash and cash equivalents	349	41,745
Restricted cash	3,057	9,020
Marketable securities	29,634	30,243
Receivables, net	236,391	228,297
Deferred charges and prepaid expenses, net	143,535	145,662
Real estate assets held for sale	9,093	2,901
Other assets	74,178	34,903
Total assets	8,183,930	8,242,421
Liabilities
Debt obligations, net	4,873,065	4,885,863
Accounts payable, accrued expenses and other liabilities	518,094	520,459
Total liabilities	5,391,159	5,406,322
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	2,980	2,985
Additional paid-in capital	3,222,844	3,233,329
Accumulated other comprehensive income	6,048	15,973
Distributions in excess of net income	(439,101)	(416,188)
Total equity	2,792,771	2,836,099
Total liabilities and equity	8,183,930	8,242,421
Brixmor Operating Partnership LP
Real estate
Land	1,794,709	1,804,504
Buildings and improvements	8,279,076	8,294,273
Real estate, gross	10,073,785	10,098,777
Accumulated depreciation and amortization	(2,386,092)	(2,349,127)
Real estate, net	7,687,693	7,749,650
Cash and cash equivalents	99	41,619
Restricted cash	3,057	9,020
Marketable securities	29,413	30,023
Receivables, net	236,391	228,297
Deferred charges and prepaid expenses, net	143,535	145,662
Real estate assets held for sale	9,093	2,901
Other assets	74,178	34,903
Total assets	8,183,459	8,242,075
Liabilities
Debt obligations, net	4,873,065	4,885,863
Accounts payable, accrued expenses and other liabilities	518,094	520,459
Total liabilities	5,391,159	5,406,322
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	2,786,242	2,819,770
Accumulated other comprehensive income	6,058	15,983
Total equity	2,792,300	2,835,753
Total liabilities and equity	$ 8,183,459	$ 8,242,075

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000,000,000	3,000,000,000
Common stock, shares issued	305,289,535	305,130,472
Common stock, shares outstanding	297,987,158	298,488,516
Brixmor Operating Partnership LP
Common stock, shares issued	305,289,535	305,130,472
Common stock, shares outstanding	297,987,158	298,488,516

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Rental income	$ 289,955	$ 316,797
Other revenues	1,184	378
Total revenues	291,139	317,175
Operating expenses
Operating costs	31,258	35,490
Real estate taxes	43,326	45,725
Depreciation and amortization	85,395	90,383
Provision for doubtful accounts	0	2,415
Impairment of real estate assets	3,112	15,902
General and administrative	25,443	22,426
Total operating expenses	188,534	212,341
Other income (expense)
Dividends and interest	147	96
Interest expense	(46,666)	(55,171)
Gain on sale of real estate assets	7,602	11,448
Gain (loss) on extinguishment of debt, net	30	(132)
Other	(818)	(53)
Total other expense	(39,705)	(43,812)
Net income	$ 62,900	$ 61,022
Net income:
Basic (usd per share)	$ 0.21	$ 0.20
Diluted (usd per share)	$ 0.21	$ 0.20
Weighted average shares:
Basic (in shares)	298,599	304,158
Diluted (in shares)	299,029	304,278
Brixmor Operating Partnership LP
Revenues
Rental income	$ 289,955	$ 316,797
Other revenues	1,184	378
Total revenues	291,139	317,175
Operating expenses
Operating costs	31,258	35,490
Real estate taxes	43,326	45,725
Depreciation and amortization	85,395	90,383
Provision for doubtful accounts	0	2,415
Impairment of real estate assets	3,112	15,902
General and administrative	25,443	22,426
Total operating expenses	188,534	212,341
Other income (expense)
Dividends and interest	147	96
Interest expense	(46,666)	(55,171)
Gain on sale of real estate assets	7,602	11,448
Gain (loss) on extinguishment of debt, net	30	(132)
Other	(818)	(53)
Total other expense	(39,705)	(43,812)
Net income	$ 62,900	$ 61,022
Net income:
Basic (usd per share)	$ 0.21	$ 0.20
Diluted (usd per share)	$ 0.21	$ 0.20
Weighted average shares:
Basic (in shares)	298,599	304,158
Diluted (in shares)	299,029	304,278

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 62,900	$ 61,022
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	(10,057)	4,773
Change in unrealized gain (loss) on marketable securities	132	(86)
Total other comprehensive income (loss)	(9,925)	4,687
Comprehensive income	52,975	65,709
Brixmor Operating Partnership LP
Net income	62,900	61,022
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	(10,057)	4,773
Change in unrealized gain (loss) on marketable securities	132	(85)
Total other comprehensive income (loss)	(9,925)	4,688
Comprehensive income	$ 52,975	$ 65,710

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Brixmor Operating Partnership LP	Common Stock	Common StockBrixmor Operating Partnership LP	Additional Paid-in Capital	Additional Paid-in CapitalBrixmor Operating Partnership LP	Accumulated Other Comprehensive Income	Distributions in Excess of Net Income
Beginning balance (in shares) at Dec. 31, 2017			304,620
Beginning balance at Dec. 31, 2017	$ 2,908,348	$ 2,908,099	$ 3,046	$ 2,883,875	$ 3,330,466	$ 24,224	$ 24,211	$ (449,375)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(83,479)	(83,479)		(83,479)				(83,479)
Equity based compensation expense	2,484	2,484		2,484	2,484
Other comprehensive income	4,687	4,688				4,688	4,687
Issuance of common stock and OP Units (in shares)			128
Issuance of common stock and OP Units	1	1	$ 1	1
Repurchase of common stock, shares			(1,922)
Repurchases of common stock	(29,765)	(29,765)	$ (19)	(29,765)	(29,746)
Share-based awards retained for taxes	(1,722)	(1,722)		(1,722)	(1,722)
Net income	61,022	61,022		61,022				61,022
Ending balance (in shares) at Mar. 31, 2018			302,826
Ending balance at Mar. 31, 2018	2,861,576	2,861,328	$ 3,028	2,832,416	3,301,482	28,912	28,898	(471,832)
Increase (Decrease) in Equity [Roll Forward]
ASC 842 cumulative adjustment	(1,974)	(1,974)		(1,974)				(1,974)
Beginning balance (in shares) at Dec. 31, 2018			298,489
Beginning balance at Dec. 31, 2018	2,836,099	2,835,753	$ 2,985	2,819,770	3,233,329	15,983	15,973	(416,188)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(83,839)	(83,964)		(83,964)				(83,839)
Equity based compensation expense	2,641	2,641		2,641	2,641
Other comprehensive income	(9,925)	(9,925)				(9,925)	(9,925)
Issuance of common stock and OP Units (in shares)			158
Issuance of common stock and OP Units	2	2	$ 2	2
Repurchase of common stock, shares			(660)
Repurchases of common stock	(11,586)	(11,586)	$ (7)	(11,586)	(11,579)
Share-based awards retained for taxes	(1,547)	(1,547)		(1,547)	(1,547)
Net income	62,900	62,900		62,900				62,900
Ending balance (in shares) at Mar. 31, 2019			297,987
Ending balance at Mar. 31, 2019	$ 2,792,771	$ 2,792,300	$ 2,980	$ 2,786,242	$ 3,222,844	$ 6,058	$ 6,048	$ (439,101)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends, per common share	$ 0.28	$ 0.275

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Operating activities:
Net income	$ 62,900	$ 61,022
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	85,395	90,383
Debt premium and discount amortization	468	(952)
Deferred financing cost amortization	1,787	1,682
Accretion of above- and below-market leases, net	(4,898)	(6,824)
Provisions for impairment	3,112	15,902
Gain on disposition of operating properties	(7,602)	(11,448)
Equity based compensation	2,641	2,484
Other	827	824
(Gain) loss on extinguishment of debt, net	(30)	132
Changes in operating assets and liabilities:
Receivables	(816)	12,171
Deferred charges and prepaid expenses	(6,829)	(5,309)
Other assets	82	40
Accounts payable, accrued expenses and other liabilities	(40,199)	(35,657)
Net cash provided by operating activities	96,838	124,450
Investing activities:
Improvements to and investments in real estate assets	(77,725)	(76,803)
Proceeds from sales of real estate assets	45,160	104,198
Purchase of marketable securities	(5,246)	(3,655)
Proceeds from sale of marketable securities	5,977	4,496
Net cash provided by (used in) investing activities	(31,834)	28,236
Financing activities:
Repayment of secured debt obligations	0	(4,858)
Repayment of borrowings under unsecured revolving credit facility	(65,000)	0
Proceeds from borrowings under unsecured revolving credit facility	50,000	0
Repayment of borrowings under unsecured term loans	0	(50,000)
Deferred financing and debt extinguishment costs	(133)	(184)
Distributions to common stockholders	(84,097)	(84,165)
Repurchases of common shares	(11,586)	(29,765)
Repurchases of common shares in conjunction with equity award plans	(1,547)	(1,722)
Net cash used in financing activities	(112,363)	(170,694)
Net change in cash, cash equivalents and restricted cash	(47,359)	(18,008)
Cash, cash equivalents and restricted cash at beginning of period	50,765	110,777	$ 110,777
Cash, cash equivalents and restricted cash at end of period	3,406	92,769	50,765
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	349	27,332	41,745
Restricted cash				$ 3,057	$ 9,020	$ 65,437
Cash, cash equivalents and restricted cash at end of period	50,765	110,777	110,777	3,406	50,765	92,769
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amount capitalized of $626 and $654	51,168
Brixmor Operating Partnership LP
Operating activities:
Net income	62,900	61,022
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	85,395	90,383
Debt premium and discount amortization	468	(952)
Deferred financing cost amortization	1,787	1,682
Accretion of above- and below-market leases, net	(4,898)	(6,824)
Provisions for impairment	3,112	15,902
Gain on disposition of operating properties	(7,602)	(11,448)
Equity based compensation	2,641	2,484
Other	827	824
(Gain) loss on extinguishment of debt, net	(30)	132
Changes in operating assets and liabilities:
Receivables	(816)	12,171
Deferred charges and prepaid expenses	(6,829)	(5,309)
Other assets	82	40
Accounts payable, accrued expenses and other liabilities	(40,199)	(35,657)
Net cash provided by operating activities	96,838	124,450
Investing activities:
Improvements to and investments in real estate assets	(77,725)	(76,803)
Proceeds from sales of real estate assets	45,160	104,198
Purchase of marketable securities	(5,245)	(3,654)
Proceeds from sale of marketable securities	5,977	4,496
Net cash provided by (used in) investing activities	(31,833)	28,237
Financing activities:
Repayment of secured debt obligations	0	(4,858)
Repayment of borrowings under unsecured revolving credit facility	(65,000)	0
Proceeds from borrowings under unsecured revolving credit facility	50,000	0
Repayment of borrowings under unsecured term loans	0	(50,000)
Deferred financing and debt extinguishment costs	(133)	(184)
Partner distributions	(97,355)	(115,652)
Net cash used in financing activities	(112,488)	(170,694)
Net change in cash, cash equivalents and restricted cash	(47,483)	(18,007)
Cash, cash equivalents and restricted cash at beginning of period	50,639	110,747	110,747
Cash, cash equivalents and restricted cash at end of period	3,156	92,740	50,639
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	99	27,303	41,619
Restricted cash				3,057	9,020	65,437
Cash, cash equivalents and restricted cash at end of period	$ 50,639	110,747	$ 110,747	$ 3,156	$ 50,639	$ 92,740
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amount capitalized of $626 and $654		$ 63,646

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interest paid, capitalized	$ 626	$ 654
Brixmor Operating Partnership LP
Interest paid, capitalized	$ 626	$ 654

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Nature of Business and Financial Statement Presentation	Nature of Business and Financial Statement Presentation Description of Business Brixmor Property Group Inc. and subsidiaries (collectively, the “Parent Company”) is an internally-managed real estate investment trust (“REIT”). Brixmor Operating Partnership LP and subsidiaries (collectively, the “Operating Partnership”) is the entity through which the Parent Company conducts substantially all of its operations and owns substantially all of its assets. The Parent Company owns 100% of the common stock of BPG Subsidiary Inc. (“BPG Sub”), which, in turn, is the sole member of Brixmor OP GP LLC (the “General Partner”), the sole general partner of the Operating Partnership. The Parent Company engages in the ownership, management, leasing, acquisition, disposition and redevelopment of retail shopping centers through the Operating Partnership, and has no other substantial assets or liabilities other than through its investment in the Operating Partnership. The Parent Company, the Operating Partnership and their controlled subsidiaries on a consolidated basis (collectively, the “Company” or “Brixmor”) believes it owns and operates one of the largest open air retail portfolios by gross leasable area (“GLA”) in the United States (“U.S.”), comprised primarily of community and neighborhood shopping centers. As of March 31, 2019, the Company’s portfolio was comprised of 422 shopping centers (the “Portfolio”) totaling approximately 73 million square feet of GLA. The Company’s high-quality national Portfolio is primarily located within established trade areas in the top 50 Metropolitan Statistical Areas in the U.S., and its shopping centers are primarily anchored by non-discretionary and value-oriented retailers, as well as consumer-oriented service providers. The Company does not distinguish its principal business or group its operations on a geographical basis for purposes of measuring performance. Accordingly, the Company has a single reportable segment for disclosure purposes in accordance with U.S. generally accepted accounting principles (“GAAP”). Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of the unaudited Condensed Consolidated Financial Statements for the periods presented have been included. The operating results for the periods presented are not necessarily indicative of the results that may be expected for a full fiscal year. These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2018 and accompanying notes included in the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 11, 2019. Certain prior period balances in the accompanying unaudited Condensed Consolidated Statements of Operations have been reclassified to conform to the current period presentation for the adoption of Accounting Standards Codification Topic 842 “Leases” (“ASC 842”) (described below), which supersedes Accounting Standards Codification Topic 840 “Leases” (“ASC 840”). Principles of Consolidation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Parent Company, the Operating Partnership, each of their wholly owned subsidiaries and all other entities in which they have a controlling financial interest. All intercompany transactions have been eliminated. Deferred Leasing and Financing Costs Costs incurred in executing tenant leases and long-term financings are capitalized and amortized using the straight-line method over the term of the related lease or debt agreement, which approximates the effective interest method. Capitalized costs incurred in executing tenant leases include tenant improvements and leasing commissions. In connection with the adoption of ASC 842, the Company no longer capitalizes partial salaries and/or legal fees incurred in executing tenant leases. These amounts were capitalized under previous guidance. For long-term financings, capitalized costs incurred include bank and legal fees. The amortization of deferred leasing and financing costs is included in Depreciation and amortization and Interest expense, respectively, in the Company’s unaudited Condensed Consolidated Statements of Operations and within Operating activities on the Company’s unaudited Condensed Consolidated Statements of Cash Flows. Revenue Recognition and Receivables The Company enters into agreements with tenants which convey the right to control the use of identified space at its shopping centers in exchange for rental revenue. These agreements meet the criteria for recognition as leases under ASC 842. Rental revenue is recognized on a straight-line basis over the terms of the related leases. The cumulative difference between rental revenue recognized in the Company’s unaudited Condensed Consolidated Statements of Operations and contractual payment terms is recognized as deferred rent and presented on the accompanying unaudited Condensed Consolidated Balance Sheets within Receivables. The Company commences recognizing rental revenue based on the date its makes the underlying asset available for use by the tenant. Leases also typically provide for the reimbursement of operating costs, including common area expenses, utilities, insurance and real estate taxes by the lessee and are recognized in the period the applicable expenditures are incurred. In connection with the adoption of ASC 842, the Company has evaluated the lease and non-lease components within its leases and has elected the practical expedient to present lease and non-lease components in its lease agreements as one component. As such, the Company accounts for rental revenue and common area expense reimbursements as one lease component under ASC 842. These amounts are included in Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Additionally, the Company allocates the reimbursement of utilities, insurance and real estate taxes to the lease and non-lease components of its leases. These amounts are included in Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Certain leases also provide for percentage rents based upon the level of sales achieved by a lessee. These percentage rents are recognized upon the achievement of certain pre-determined sales levels and are included in Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Gains from the sale of depreciated operating properties are generally recognized under the full accrual method, provided that various criteria relating to the terms of the sale and subsequent involvement by the Company with the applicable property are met. The Company periodically evaluates the collectability of its receivables related to rental revenue, straight-line rent, expense reimbursements and those attributable to other revenue generating activities. The Company analyzes individual tenant receivables and considers tenant credit-worthiness, the length of time a receivable has been outstanding, and current economic trends when evaluating collectability. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. Any receivables that are deemed to be uncollectible are recognized as a reduction to Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Prior period Provision for doubtful accounts is presented on the Company's unaudited Condensed Consolidated Statements of Operations in accordance with the Company's previous presentation and has not been reclassified to Rental income. Leases The Company periodically enters into agreements in which it is the lessee, including ground leases for neighborhood and community shopping centers that it operates and office leases for administrative space. In connection with the adoption of ASC 842, the Company evaluated these agreements and determined that they meet the criteria for recognition as leases under ASC 842. For these agreements the Company recognizes an operating lease right-of-use (“ROU”) asset and operating lease liability based on the present value of the minimum lease payments over the non-cancellable lease term. As the rates implicit in the leases are not readily determinable the Company uses its incremental secured borrowing rate based on the information available at commencement date to determine the present value of the lease payments. The lease terms utilized by the Company may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company evaluates many factors, including current and future tenant cash flows, when determining if an option to extend or terminate should be included in the non-cancellable period. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has elected to apply the short-term lease exemption within ASC 842 and does not record an ROU asset or lease liability for leases with terms of less than 12 months. Additionally, leases also typically provide for the reimbursement of operating costs, including common area expenses, utilities, insurance and real estate taxes by the Company. In connection with the adoption of ASC 842, the Company has evaluated the lease and non-lease components within its leases and has elected the practical expedient to present lease and non-lease components in its lease agreements as one component. As such, the Company accounts for lease payments and common area expense reimbursements as one lease component under ASC 842. These amounts are included in Operating expenses in the Company’s unaudited Condensed Consolidated Statements of Operations. Additionally, the Company allocates the reimbursement of utilities, insurance and real estate taxes to the lease and non-lease components of its leases. These amounts are included in Operating expenses in the Company’s unaudited Condensed Consolidated Statements of Operations. Income Taxes The Parent Company has elected to qualify as a REIT in accordance with the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Parent Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute to its stockholders at least 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gains. It is management’s intention to adhere to these requirements and maintain the Parent Company’s REIT status. As a REIT, the Parent Company generally will not be subject to U.S. federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income as defined under the Code. The Parent Company conducts substantially all of its operations through the Operating Partnership which is organized as a limited partnership and treated as a pass-through entity for U.S. federal tax purposes. Therefore, U.S. federal income taxes on the Company’s taxable income do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal taxes at regular corporate rates (including any applicable alternative minimum tax for tax years beginning before January 1, 2018) and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Parent Company qualifies for taxation as a REIT, the Company is subject to certain state and local taxes on its income and property, and to U.S. federal income and excise taxes on its undistributed taxable income. The Parent Company has elected to treat certain of its subsidiaries as taxable REIT subsidiaries (“TRS”), and the Parent Company may in the future elect to treat newly formed and/or existing subsidiaries as TRSs. A TRS may participate in non-real estate related activities and/or perform non-customary services for tenants and is subject to certain limitations under the Code. A TRS is subject to U.S. federal and state income taxes. Income taxes related to the Parent Company’s TRSs do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. The Company has considered the tax positions taken for the open tax years and has concluded that no provision for income taxes related to uncertain tax positions is required in the Company’s unaudited Condensed Consolidated Financial Statements as of March 31, 2019 and December 31, 2018. Open tax years generally range from 2015 through 2018, but may vary by jurisdiction and issue. The Company recognizes penalties and interest accrued related to unrecognized tax benefits as income tax expense, which is included in Other on the Company’s unaudited Condensed Consolidated Statements of Operations. New Accounting Pronouncements In November 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses.” ASU 2018-19 clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with ASC 842, Leases. The standard is effective on January 1, 2020, with early adoption permitted. The Company does not expect the adoption of ASU 2018-19 to have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. Information regarding the adoption of ASC 842 is described below. In October 2018, the FASB issued ASU 2018-16, “Derivatives and Hedging (Topic 815).” ASU 2018-16 amends guidance to permit the use of the Overnight Index Swap rate based on the Secured Overnight Financing Rate as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815. The standard became effective for the Company on January 1, 2019. The Company determined that these changes did not have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement (Topic 820) .” ASU 2018-13 amends certain disclosure requirements regarding the fair value hierarchy of investments in accordance with GAAP, particularly the significant unobservable inputs used to value investments within Level 3 of the fair value hierarchy. The standard is effective on January 1, 2020, with early adoption permitted. The Company does not expect the adoption of ASU 2018-13 to have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842). ” ASU 2016-02 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). ASU 2016-02 was subsequently amended by ASU 2018-01, “ Land Easement Practical Expedient for Transition to Topic 842 ”; ASU 2018-10, “ Codification Improvements to Topic 842 ”; ASU 2018-11, “ Targeted Improvements ”; and ASU 2018-20, “ Narrow-Scope Improvements for Lessors ”. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to recognize an ROU asset and a lease liability for all leases with a term of greater than 12 months, regardless of their classification. Leases with a term of 12 months or less qualify for the short-term lease recognition exemption and may be accounted for similar to previous guidance for operating leases. The new standard requires lessors to account for leases using an approach that is substantially equivalent to previous guidance for sales-type leases, direct financing leases and operating leases. Adoption The standard became effective for the Company on January 1, 2019 and a modified retrospective transition approach was required. The Company determined that the adoption of ASC 842 had a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. The Company elected the following optional practical expedients upon adoption: • The Company did not reassess whether a current arrangement contains a lease. (ASU 2016-02) • The Company did not reassess current lease classification. (ASU 2016-02) • The Company did not reassess initial direct costs recognized under previous guidance. (ASU 2016-02) • The Company did not reassess current land easements under ASC 842. (ASU 2018-01) • The Company applied ASC 842 as of the effective date. Therefore, the Company’s reporting for the comparative periods presented in the unaudited Condensed Consolidated Financial Statements of the Company will continue to be in accordance with ASC 840, however certain prior period balances in the accompanying unaudited Condensed Consolidated Statements of Operations have been reclassified to conform to the current period presentation. The Company recognized a $2.0 million cumulative adjustment to decrease retained earnings for indirect leasing costs capitalized for executed leases that had not commenced as of the adoption date of ASC 842. (ASU 2018-11) • The Company elected, by class of underlying asset, not to separate non-lease components from the associated lease components and instead account for them as a single component. This resulted in the consolidation of Rental income and Expense reimbursements on the Company’s unaudited Condensed Consolidated Statements of Operations. (ASU 2018-11) Lessee For leases where the Company is the lessee, primarily for the Company’s ground leases and administrative office leases, the Company is required to record a right of use asset and a lease liability on its unaudited Condensed Consolidated Balance Sheets on the effective date. The Company has elected to apply the short-term lease recognition exemption for all leases that qualify. Lessor For leases where the Company is the lessor, the Company will continue to record revenues from rental properties for its operating leases on a straight-line basis. In addition, initial direct leasing costs continue to be capitalized, however, indirect leasing costs previously capitalized are being expensed under ASC 842. During the three months ended March 31, 2018, the Company capitalized $3.0 million of indirect leasing costs, including leasing payroll and legal costs. In addition, ASC 842 requires that additional lease disclosures be presented in the unaudited Condensed Consolidated Financial Statements of the Company for both lessor and lessee lease agreements. See Notes 9 and 10 for additional information. Any other recently issued accounting standards or pronouncements not disclosed above have been excluded as they either are not relevant to the Company, or they are not expected to have a material effect on the unaudited Condensed Consolidated Financial Statements of the Company.

Acquisition of Real Estate

Acquisition of Real Estate	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Acquisition of Real Estate	Acquisition of Real Estate During the three months ended March 31, 2019 and 2018, the Company did not acquire any real estate assets.

Dispositions and Assets Held fo

Dispositions and Assets Held for Sale	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Assets Held for Sale	Dispositions and Assets Held for Sale During the three months ended March 31, 2019, the Company disposed of three shopping centers for aggregate net proceeds of $44.9 million resulting in aggregate gain of $7.3 million . In addition, during the three months ended March 31, 2019, the Company received net proceeds of $0.3 million from previously disposed assets resulting in a gain of $0.3 million . During the three months ended March 31, 2018, the Company disposed of six shopping centers and one outparcel for aggregate net proceeds of $104.2 million resulting in aggregate gain of $11.4 million and aggregate impairment of $0.2 million . As of March 31, 2019, the Company had one property and one partial property held for sale. As of December 31, 2018, the Company had one property held for sale. The following table presents the assets and liabilities associated with the properties classified as held for sale: Assets March 31, 2019 December 31, 2018 Land $ 1,412 $ 1,220 Buildings and improvements 10,935 2,927 Accumulated depreciation and amortization (3,356 ) (1,334 ) Real estate, net 8,991 2,813 Other assets 102 88 Assets associated with real estate assets held for sale $ 9,093 $ 2,901 Liabilities Below-market leases $ 444 $ — Liabilities associated with real estate assets held for sale (1) $ 444 $ — (1) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. There were no discontinued operations for the three months ended March 31, 2019 and 2018 as none of the dispositions represented a strategic shift in the Company’s business that would qualify as discontinued operations.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Real Estate	Real Estate The Company’s components of Real estate, net consisted of the following: March 31, 2019 December 31, 2018 Land $ 1,794,709 $ 1,804,504 Buildings and improvements: Buildings and tenant improvements (1) 7,626,515 7,626,363 Lease intangibles (2) 652,561 667,910 10,073,785 10,098,777 Accumulated depreciation and amortization (3) (2,386,092 ) (2,349,127 ) Total $ 7,687,693 $ 7,749,650 (1) As of March 31, 2019 and December 31, 2018, Buildings and tenant improvements included accrued amounts, net of anticipated insurance proceeds, of $ 38.9 million and $ 41.7 million , respectively. (2) As of March 31, 2019 and December 31, 2018, Lease intangibles consisted of $587.6 million and $601.0 million , respectively, of in-place leases and $65.0 million and $66.9 million , respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (3) As of March 31, 2019 and December 31, 2018, Accumulated depreciation and amortization included $553.7 million and $560.3 million , respectively, of accumulated amortization related to Lease intangibles. In addition, as of March 31, 2019 and December 31, 2018, the Company had intangible liabilities relating to below-market leases of $385.3 million and $392.9 million , respectively, and accumulated accretion of $265.3 million and $266.1 million , respectively. These intangible liabilities are included in Accounts payable, accrued expenses and other liabilities in the Company’s unaudited Condensed Consolidated Balance Sheets. These intangible assets are accreted over the term of each related lease. Below-market lease accretion income, net of above-market lease amortization for the three months ended March 31, 2019 and 2018 was $4.9 million and $6.8 million , respectively. These amounts are included in Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Amortization expense associated with in-place lease value for the three months ended March 31, 2019 and 2018 was $6.5 million and $9.3 million , respectively. These amounts are included in Depreciation and amortization in the Company’s unaudited Condensed Consolidated Statements of Operations. The Company’s estimated below-market lease accretion income, net of above-market lease amortization expense, and in-place lease amortization expense for the next five years are as follows: Year ending December 31, Below-market lease accretion (income), net of above-market lease amortization In-place lease amortization expense 2019 (remaining nine months) $ (13,278 ) $ 17,382 2020 (14,757 ) 17,615 2021 (11,982 ) 12,711 2022 (9,869 ) 9,353 2023 (8,473 ) 6,846 Hurricane Michael Impact On October 7, 2018, Hurricane Michael struck Florida resulting in widespread damage and flooding. The Company has two properties, totaling 0.4 million square feet of GLA, which were impacted. The Company maintains comprehensive property insurance on these properties, including business interruption insurance. As of March 31, 2019, the Company’s assessment of the damages sustained to its properties from Hurricane Michael resulted in $13.7 million of accelerated depreciation, representing the estimated net book value of damaged assets. The Company also recognized a corresponding receivable for estimated property insurance recoveries related to the write-down. As such, there was no impact to net income during the three months ended March 31, 2019 and year ended December 31, 2018. As of March 31, 2019, the Company has received property insurance proceeds of $3.0 million and has a remaining receivable balance of $10.7 million , which is included in Receivables on the Company’s unaudited Condensed Consolidated Balance Sheets.

Impairments

Impairments	3 Months Ended
	Mar. 31, 2019
Impairment of Real Estate [Abstract]
Impairments	Impairments On a periodic basis, management assesses whether there are any indicators, including property operating performance, changes in anticipated holding period and general market conditions, that the value of the Company’s real estate assets (including any related intangible assets or liabilities) may be impaired. If management determines that the carrying value of a real estate asset is impaired, a loss is recognized to reflect the estimated fair value. The Company recognized the following impairments during the three months ended March 31, 2019: Three Months Ended March 31, 2019 Property Name (1) Location GLA Impairment Charge Brice Park Reynoldsburg, OH 158,565 $ 3,112 158,565 $ 3,112 (1) The Company recognized an impairment charge based upon a change in the estimated hold period of this property in connection with the Company’s capital recycling program. The Company recognized the following impairments during the three months ended March 31, 2018: Three Months Ended March 31, 2018 Property Name (1) Location GLA Impairment Charge Southland Shopping Plaza (2) Toledo, OH 285,278 $ 6,942 Roundtree Place (2) Ypsilanti, MI 246,620 3,772 Skyway Plaza St. Petersburg, FL 110,799 3,639 Pensacola Square (2) Pensacola, FL 142,767 1,345 Crossroads Centre (2) Fairview Heights, IL 242,752 204 1,028,216 $ 15,902 (1) The Company recognized impairment charges based upon a change in the estimated hold period of these properties in connection with the Company’s capital recycling program. (2) The Company disposed of this property during the year ended December 31, 2018. The Company can provide no assurance that material impairment charges with respect to its Portfolio will not occur in future periods. See Note 3 for additional information regarding impairment charges taken in connection with the Company’s dispositions. See Note 8 for additional information regarding the fair value of operating properties which have been impaired.

Financial Instruments - Derivat

Financial Instruments - Derivatives and Hedging	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments - Derivatives and Hedging	Financial Instruments – Derivatives and Hedging The Company’s use of derivative instruments is intended to manage its exposure to interest rate movements and such instruments are not utilized for speculative purposes. In certain situations, the Company may enter into derivative financial instruments such as interest rate swap and interest rate cap agreements that result in the receipt and/or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Cash Flow Hedges of Interest Rate Risk Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchanging the underlying notional amount. The Company utilizes interest rate swaps to partially hedge the cash flows associated with variable LIBOR based debt. During the three months ended March 31, 2019, the Company did no t enter into any new interest rate swap agreements. During the year ended December 31, 2018, the Company entered into four forward starting interest rate swap agreements with an effective date of January 2, 2019, an aggregate notional value of $300.0 million , a weighted average fixed rate of 2.61% and an expiration date of July 26, 2024. Detail on the Company’s interest rate derivatives designated as cash flow hedges outstanding as of March 31, 2019 and December 31, 2018 is as follows: Number of Instruments Notional Amount March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Interest Rate Swaps 7 10 $ 800,000 $ 1,200,000 The Company has elected to present its interest rate derivatives on its unaudited Condensed Consolidated Balance Sheets on a gross basis as interest rate swap assets and interest rate swap liabilities. Detail on the Company’s fair value of interest rate derivatives on a gross and net basis as of March 31, 2019 and December 31, 2018, respectively, is as follows: Fair Value of Derivative Instruments Interest rate swaps classified as: March 31, 2019 December 31, 2018 Gross derivative assets $ 12,788 $ 18,630 Gross derivative liabilities (6,786 ) (2,571 ) Net derivative assets $ 6,002 $ 16,059 The gross derivative assets are included in Other assets and the gross derivative liabilities are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. All of the Company’s outstanding interest rate swap agreements for the periods presented were designated as cash flow hedges of interest rate risk. The fair value of the Company’s interest rate derivatives is determined using market standard valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. These inputs are classified as Level 2 of the fair value hierarchy. The effective portion of changes in the fair value of derivatives designated as cash flow hedges is recognized in other comprehensive income (“OCI”) and is reclassified into earnings as interest expense in the period that the hedged forecasted transaction affects earnings. The effective portion of the Company’s interest rate swaps that was recognized in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2019 and 2018 is as follows: Derivatives in Cash Flow Hedging Relationships (Interest Rate Swaps) Three Months Ended March 31, 2019 2018 Change in unrealized gain (loss) on interest rate swaps $ (6,944 ) $ 7,234 Accretion of interest rate swaps to interest expense (3,113 ) (2,461 ) Change in unrealized gain (loss) on interest rate swaps, net $ (10,057 ) $ 4,773 The Company estimates that $5.8 million will be reclassified from accumulated other comprehensive income as a decrease to interest expense over the next twelve months. No gain or loss was recognized related to hedge ineffectiveness or to amounts excluded from effectiveness testing on the Company’s cash flow hedges during the three months ended March 31, 2019 and 2018. Non-Designated (Mark-to-Market) Hedges of Interest Rate Risk The Company does not use derivatives for trading or speculative purposes. As of March 31, 2019 and December 31, 2018, the Company did not have any non-designated hedges. Credit-risk-related Contingent Features The Company has agreements with its derivative counterparties that contain provisions whereby if the Company defaults on certain of its indebtedness and the indebtedness has been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. If the Company were to breach any of the contractual provisions of the derivative contracts, it would be required to settle its obligations under the agreements at their termination value including accrued interest.

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations As of March 31, 2019 and December 31, 2018, the Company had the following indebtedness outstanding: Carrying Value as of March 31, 2019 December 31, Stated Interest Rate (1) Scheduled Maturity Date Secured loan Secured loan (2) $ 7,000 $ 7,000 4.40% 2024 Net unamortized premium 250 262 Net unamortized debt issuance costs (43 ) (45 ) Total secured loan, net $ 7,207 $ 7,217 Notes payable Unsecured notes (3) $ 3,468,453 $ 3,468,453 3.25% – 7.97% 2022 – 2029 Net unamortized discount (11,082 ) (11,562 ) Net unamortized debt issuance costs (19,902 ) (20,877 ) Total notes payable, net $ 3,437,469 $ 3,436,014 Unsecured Credit Facility and term loans Unsecured Credit Facility - $500 Million Term Loan (4) $ 500,000 $ 500,000 3.74% 2021 Unsecured Credit Facility - Revolving Facility 291,000 306,000 3.59% 2023 Unsecured $350 Million Term Loan 350,000 350,000 3.74% 2023 Unsecured $300 Million Term Loan (5) 300,000 300,000 4.39% 2024 Net unamortized debt issuance costs (12,611 ) (13,368 ) Total Unsecured Credit Facility and term loans $ 1,428,389 $ 1,442,632 Total debt obligations, net $ 4,873,065 $ 4,885,863 (1) The stated interest rates are as of March 31, 2019 and do not include the impact of the Company’s interest rate swap agreements (described below). (2) The Company’s secured loan is collateralized by a property with a carrying value of approximately $16.3 million as of March 31, 2019. (3) The weighted average stated interest rate on the Company’s unsecured notes was 3.81% as of March 31, 2019. (4) Effective November 1, 2016, the Company has in place three interest rate swap agreements that convert the variable interest rate on a $500.0 million term loan (the “$500 Million Term Loan”) under the Company’s senior unsecured credit facility agreement, as amended December 12, 2018, (the “Unsecured Credit Facility”) to a fixed, combined interest rate of 1.11% (plus a spread of 125 basis points) through July 30, 2021. (5) Effective January 2, 2019, the Company has in place four interest rate swap agreements that convert the variable interest rate on the Company’s $300.0 million term loan agreement, as amended December 12, 2018 (the “$300 Million Term Loan”) to a fixed, combined interest rate of 2.61% (plus a spread of 190 basis points until July 28, 2019, which decreases to 125 basis points thereafter) through July 26, 2024. Pursuant to the terms of the Company’s unsecured debt agreements, the Company among other things is subject to the maintenance of various financial covenants. The Company was in compliance with these covenants as of March 31, 2019. Debt Maturities As of March 31, 2019 and December 31, 2018, the Company had accrued interest of $27.2 million and $34.0 million outstanding, respectively. As of March 31, 2019, scheduled amortization and maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2019 (remaining nine months) $ — 2020 — 2021 500,000 2022 750,000 2023 1,141,000 Thereafter 2,525,453 Total debt maturities 4,916,453 Net unamortized discount (10,832 ) Net unamortized debt issuance costs (32,556 ) Total debt obligations, net $ 4,873,065 As of the date the financial statements were issued, the Company did not have any scheduled debt maturities for the next 12 months.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures All financial instruments of the Company are reflected in the accompanying unaudited Condensed Consolidated Balance Sheets at amounts which, in management’s judgment, reasonably approximate their fair values, except those instruments listed below: March 31, 2019 December 31, 2018 Carrying Amounts Fair Value Carrying Fair Secured loans $ 7,207 $ 7,172 $ 7,217 $ 7,072 Notes payable 3,437,469 3,462,929 3,436,014 3,372,418 Unsecured Credit Facility and term loans 1,428,389 1,436,953 1,442,632 1,452,382 Total debt obligations, net $ 4,873,065 $ 4,907,054 $ 4,885,863 $ 4,831,872 As a basis for considering market participant assumptions in fair value measurements, a fair value hierarchy is included in GAAP that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs that are classified within Level 3 of the hierarchy). In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The valuation methodology used to estimate the fair value of the Company’s debt obligations is based on a discounted cash flow analysis, with assumptions that include credit spreads, interest rate curves, estimated property values, loan amounts and maturity dates. Based on these inputs, the Company has determined that the valuations of its debt obligations are classified within Level 3 of the fair value hierarchy. Such fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition. Recurring Fair Value The Company’s marketable securities and interest rate derivatives are measured and recognized at fair value on a recurring basis. The valuations of the Company’s marketable securities are based primarily on publicly traded market values in active markets and are classified within Level 1 or 2 of the fair value hierarchy. See Note 6 for fair value information regarding the Company’s interest rate derivatives. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of March 31, 2019 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Marketable securities (1) $ 29,634 $ 1,535 $ 28,099 $ — Interest rate derivatives $ 12,788 $ — $ 12,788 $ — Liabilities: Interest rate derivatives $ (6,786 ) $ — $ (6,786 ) $ — Fair Value Measurements as of December 31, 2018 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Marketable securities (1) $ 30,243 $ 1,756 $ 28,487 $ — Interest rate derivatives $ 18,630 $ — $ 18,630 $ — Liabilities: Interest rate derivatives $ (2,571 ) $ — $ (2,571 ) $ — (1) As of March 31, 2019 and December 31, 2018, marketable securities included less than $0.1 million of net unrealized gains and $0.1 million of net unrealized losses, respectively. As of March 31, 2019, the contractual maturities of the Company’s marketable securities are within the next five years. Non-Recurring Fair Value On a non-recurring basis, the Company evaluates the carrying value of its properties when events or changes in circumstances indicate that the carrying value may not be recoverable. Fair value is determined by offers from third-party buyers, market comparable data, third party appraisals or by discounted cash flow analysis. The cash flows utilized in such analyses are comprised of unobservable inputs which include forecasted rental revenue and expenses based upon market conditions and future expectations. The capitalization rates and discount rates utilized in such analyses are based upon unobservable rates that we believe to be within a reasonable range of current market rates for the respective properties. Based on these inputs, the Company has determined that the valuations of these properties are classified within Level 3 of the fair value hierarchy. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a non-recurring basis. The table includes information related to properties that were remeasured to fair value as a result of impairment testing during the three months ended March 31, 2019 and during the year ended December 31, 2018, excluding the properties sold prior to March 31, 2019 and December 31, 2018, respectively: Fair Value Measurements as of March 31, 2019 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impairment of Real Estate Assets Assets: Properties (1) $ 9,700 $ — $ — $ 9,700 $ 3,112 Fair Value Measurements as of December 31, 2018 Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impairment of Real Estate Assets Assets: Properties (2)(3)(4) $ 31,725 $ — $ — $ 31,725 $ 16,303 (1) The carrying value of the property remeasured to fair value based upon offers from third-party buyers during the three months ended March 31, 2019 is $9.7 million related to Brice Park. (2) Excludes properties disposed of prior to December 31, 2018. (3) The carrying value of properties remeasured to fair value based upon offers from third-party buyers during the year ended December 31, 2018 includes $26.1 million related to Westview Center. (4) The carrying value of properties remeasured to fair value based upon a discounted cash flow analysis during the year ended December 31, 2018 includes: (i) $2.9 million related to Skyway Plaza and (ii) $2.7 million related to Covington Gallery. The capitalization rates (ranging from 9.0% to 9.3% ) and discount rates (ranging from 6.0% to 10.4% ) which were utilized in the discounted cash flow analyses were based upon unobservable rates that the Company believes to be within a reasonable range of current market rates for each respective investment.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2019
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition The Company engages in the ownership, management, leasing, acquisition, disposition and redevelopment of retail shopping centers. Revenue is primarily generated through lease agreements and classified as Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations. These agreements include retail shopping center unit leases; ground leases; ancillary leases or agreements, such as agreements with tenants for cellular towers, ATMs, and short-term or seasonal retail (e.g. Halloween or Christmas-related retail); and reciprocal easement agreements. The agreements range in term from less than one year to 25 or more years, with certain agreements containing extension options. These extension options range from as little as one month to five or more years. The Company’s retail shopping center leases generally require tenants to pay their portion of reimbursable expenses such as common area expenses, utilities, insurance and real estate taxes. As of March 31, 2019, the fixed contractual lease payments to be received over the next five years pursuant to the terms of non-cancelable operating leases are included in the table below, assuming that no leases are renewed and no renewal options are exercised. Additionally, the table does not include variable lease payments which may be received under certain leases for percentage rents or the reimbursement of operating costs, such as common area expenses, utilities, insurance and real estate taxes. These variable lease payments are recognized in the period when the applicable expenditures are incurred or in the case of percentage rents when the sales data is made available. Year ending December 31, Operating Leases 2019 (remaining nine months) $ 626,724 2020 751,081 2021 640,651 2022 529,569 2023 430,870 Thereafter 1,501,400 Minimum Annual Base Rents As Presented Under ASC 840 Future minimum annual base rents as of and in-place at December 31, 2018 to be received over the next five years pursuant to the terms of non-cancelable operating leases are included in the table below, assuming that no leases are renewed and no renewal options are exercised. Future minimum annual base rents also do not include payments which may be received under certain leases for percentage rent or the reimbursement of operating costs, such as common area expenses, utilities, insurance and real estate taxes. Year ending December 31, Operating Leases 2019 $ 811,381 2020 709,230 2021 599,367 2022 490,087 2023 392,892 Thereafter 1,368,278

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Leases The Company periodically enters into agreements in which it is the lessee, including ground leases for neighborhood and community shopping centers that it operates and office leases for administrative space. The agreements range in term from less than one year to 50 or more years, with certain agreements containing extension options for up to an additional 100 years. As of March 31, 2019 the Company is not including any options to extend or termination rights in its ROU asset. Upon lease execution, the Company measures a liability for the present value of future lease payments over the noncancellable period of the lease. Certain agreements require the Company to pay its portion of reimbursable expenses such as common area expenses, utilities, insurance and real estate taxes. These payments are not included in the calculation of the lease liability and are presented as variable lease costs. The following table presents additional information pertaining to the Company’s operating leases: Three Months Ended March 31, 2019 Supplemental Statements of Operations Information Operating lease costs $ 1,711 Short-term lease costs 10 Variable lease costs 142 Total lease costs $ 1,863 Three Months Ended March 31, 2019 Supplemental Statements of Cash Flows Information Operating cash outflows from operating leases $ 1,797 ROU assets obtained in exchange for operating lease liabilities $ 44,324 Operating Lease Liabilities As of March 31, 2019 Future minimum operating lease payments: 2019 (remaining nine months) $ 5,180 2020 6,924 2021 6,964 2022 7,022 2023 5,635 Thereafter 30,912 Total future minimum operating lease payments 62,637 Less: imputed interest (14,441 ) Operating lease liabilities $ 48,196 Supplemental Balance Sheets Information As of March 31, 2019 Operating lease liabilities (1)(2)(3) $ 48,196 ROU assets (1)(2)(4) $ 43,146 (1) As of March 31, 2019, the weighted average remaining lease term was 11.3 years . (2) As of March 31, 2019, the weighted average discount rate was 4.30% . (3) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. (4) These amounts are included in Other assets on the Company’s unaudited Condensed Consolidated Balance Sheets. As of March 31, 2019, there were no material leases that have been executed but not yet commenced. Minimum Annual Rental Commitments As Presented Under ASC 840 Minimum annual rental commitments as of and in-place at December 31, 2018 for the Company's ground and office leases during the next five years and thereafter are as follows: Year ending December 31, 2019 $ 6,929 2020 6,948 2021 7,157 2022 7,233 2023 5,827 Thereafter 43,876 Total minimum annual rental commitments $ 77,970

Equity and Capital

Equity and Capital	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Equity and Capital	Equity and Capital Share Repurchase Program In December 2017, the Board of Directors authorized a share repurchase program (the “Program”) for up to $400.0 million of the Company’s common stock. The Program is scheduled to expire on December 5, 2019, unless extended by the Board of Directors. During the three months ended March 31, 2019, the Company repurchased 0.7 million shares of common stock under the Program at an average price per share of $17.53 for a total of $11.6 million , excluding commissions. The Company incurred commissions of less than $0.1 million in conjunction with the program for the three months ended March 31, 2019. During the three months ended March 31, 2018, the Company repurchased 1.9 million shares of common stock under the Program at an average price per share of $15.47 for a total of $29.7 million , excluding commissions. The Company incurred commissions of less than $0.1 million in conjunction with the program for the three months ended March 31, 2018. As of March 31, 2019, the Program had $278.0 million of available repurchase capacity. Common Stock In connection with the vesting of restricted stock units (“RSUs”) under the Company’s equity-based compensation plan, the Company withholds shares to satisfy tax withholding obligations. During the three months ended March 31, 2019 and 2018, the Company withheld 0.1 million shares. Dividends and Distributions During the three months ended March 31, 2019 and 2018, the Company declared common stock dividends and OP Unit distributions of $0.280 per share/unit and $0.275 per share/unit, respectively. As of March 31, 2019 and December 31, 2018, the Company had declared but unpaid common stock dividends and OP Unit distributions of $85.0 million and $85.3 million , respectively. These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	Stock Based Compensation During the year ended December 31, 2013, the Board of Directors approved the 2013 Omnibus Incentive Plan (the “Plan”). The Plan provides for a maximum of 15.0 million shares of the Company’s common stock to be issued for qualified and non-qualified options, stock appreciation rights, restricted stock and RSUs, OP Units, performance awards and other stock-based awards. During the three months ended March 31, 2019 and the year ended December 31, 2018, the Company granted RSUs to certain employees. The RSUs are divided into multiple tranches, which are all subject to service-based vesting conditions. Certain tranches are also subject to performance-based or market-based vesting conditions, which contain a threshold, target, and maximum number of units which can be earned. The number of units actually earned for each tranche is determined based on performance during a specified performance period. Tranches that only have a service-based component can only earn a target number of units. The aggregate number of RSUs granted, assuming that the target level of performance is achieved, was 0.7 million and 0.8 million for the three months ended March 31, 2019 and the year ended December 31, 2018, respectively, with vesting periods ranging from one to five years. For the performance-based and service-based RSUs granted, fair value is based on the Company’s grant date stock price. For the market-based RSUs granted during the three months ended March 31, 2019 and the year ended December 31, 2018, the Company calculated the grant date fair values per unit using a Monte Carlo simulation based on the probability of satisfying the market performance hurdles over the remainder of the performance period based on the Company’s historical common stock performance relative to the other companies within the FTSE NAREIT Equity Shopping Centers Index as well as the following significant assumptions: (i) volatility of 20.0% to 21.0% and 29.0% to 32.0% , respectively; (ii) a weighted average risk-free interest rate of 2.55% and 2.43% to 2.53% , respectively; and (iii) the Company’s weighted average common stock dividend yield of 5.6% and 5.6% , respectively. During the three months ended March 31, 2019 and 2018, the Company recognized $2.6 million and $2.5 million of equity compensation expense, respectively. These amounts are included in General and administrative expense in the Company’s unaudited Condensed Consolidated Statements of Operations. As of March 31, 2019, the Company had $25.3 million of total unrecognized compensation expense related to unvested stock compensation, which is expected to be recognized over a weighted average period of approximately 2.5 years.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such stockholders have rights to receive non-forfeitable dividends. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Company’s common stock. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2019 and 2018 (dollars in thousands, except per share data): Three Months Ended March 31, 2019 2018 Computation of Basic Earnings Per Share: Net income $ 62,900 $ 61,022 Non-forfeitable dividends on unvested restricted shares (144 ) (56 ) Net income attributable to the Company’s common stockholders for basic earnings per share $ 62,756 $ 60,966 Weighted average number shares outstanding – basic 298,599 304,158 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 62,756 $ 60,966 Weighted average shares outstanding – basic 298,599 304,158 Effect of dilutive securities: Equity awards 430 120 Weighted average shares outstanding – diluted 299,029 304,278 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20

Earnings per Unit

Earnings per Unit	3 Months Ended
	Mar. 31, 2019
Schedule of Earnings per Share [Line Items]
Earnings per Unit	Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such stockholders have rights to receive non-forfeitable dividends. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Company’s common stock. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2019 and 2018 (dollars in thousands, except per share data): Three Months Ended March 31, 2019 2018 Computation of Basic Earnings Per Share: Net income $ 62,900 $ 61,022 Non-forfeitable dividends on unvested restricted shares (144 ) (56 ) Net income attributable to the Company’s common stockholders for basic earnings per share $ 62,756 $ 60,966 Weighted average number shares outstanding – basic 298,599 304,158 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 62,756 $ 60,966 Weighted average shares outstanding – basic 298,599 304,158 Effect of dilutive securities: Equity awards 430 120 Weighted average shares outstanding – diluted 299,029 304,278 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Earnings per Unit	Earnings per Unit Basic earnings per unit is calculated by dividing net income attributable to the Operating Partnership’s common unitholders, including any participating securities, by the weighted average number of partnership common units outstanding for the period. Certain restricted units issued pursuant to the Company’s share-based compensation program are considered participating securities, as such unitholders have rights to receive non-forfeitable dividends. Fully-diluted earnings per unit reflects the potential dilution that could occur if securities or other contracts to issue common units were exercised or converted into common units. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Operating Partnership’s common units. The following table provides a reconciliation of the numerator and denominator of the earnings per unit calculations for the three months ended March 31, 2019 and 2018 (dollars in thousands, except per unit data): Three Months Ended March 31, 2019 2018 Computation of Basic Earnings Per Unit: Net income $ 62,900 $ 61,022 Non-forfeitable dividends on unvested restricted units (144 ) (56 ) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 62,756 $ 60,966 Weighted average number common units outstanding – basic 298,599 304,158 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.21 $ 0.20 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 62,756 $ 60,966 Weighted average common units outstanding – basic 298,599 304,158 Effect of dilutive securities: Equity awards 430 120 Weighted average common units outstanding – diluted 299,029 304,278 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.21 $ 0.20

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters Except as described below, the Company is not presently involved in any material litigation arising outside the ordinary course of business. However, the Company is involved in routine litigation arising in the ordinary course of business, none of which the Company believes, individually or in the aggregate, taking into account existing reserves, will have a material impact on the Company’s results of operations, cash flows, or financial position. On February 8, 2016, the Company issued a press release and filed a Form 8-K reporting the completion of a review by the Audit Committee of the Company’s Board of Directors that began after the Company received information in late December 2015 through its established compliance processes. The Audit Committee review led the Board of Directors to conclude that specific Company accounting and financial reporting personnel, in certain instances, were smoothing income items, both up and down, between reporting periods in an effort to achieve consistent quarterly same property net operating income growth. As a result of the Audit Committee review and the conclusions reached by the Board of Directors, the Company’s Chief Executive Officer, its President and Chief Financial Officer, its Chief Accounting Officer and Treasurer, and an accounting employee all resigned. Following these resignations the Company appointed a new Interim Chief Executive Officer and President, Interim Chief Financial Officer and Interim Chief Accounting Officer. A new Chief Executive Officer and Chief Financial Officer were appointed effective May 20, 2016. A new Chief Accounting Officer was appointed effective March 8, 2017. Prior to the Company’s February 8, 2016 announcement, the Company voluntarily reported these matters to the SEC. As a result, the SEC and the United States Attorney’s Office for the Southern District of New York (“SDNY”) have been conducting investigations of certain aspects of the Company’s financial reporting and accounting for prior periods and the Company has been cooperating fully. The Company and the Staff of the SEC Enforcement Division have been discussing a possible negotiated resolution with respect to the SEC investigation. Agreement has been reached on the material terms of such a resolution, which is still subject to finalizing the necessary documents and obtaining approval by the SEC, which cannot be assured. The agreement provides for, among other things, (i) the Company consenting to a cease and desist order, without admitting or denying the findings therein, with respect to violations of Sections 10(b) and 13(a) of the Securities Exchange Act of 1934, certain related rules and Rule 100(b) of Regulation G and (ii) the payment of a civil penalty of $7.0 million . As of March 31, 2019, the $7.0 million contingent liability is included in Accounts payable, accrued expenses and other liabilities in the Company’s unaudited Condensed Consolidated Balance Sheets. The Company believes that no additional government proceedings relating to these matters will be brought against the Company. The Company understands that the SEC and SDNY inquiries into these matters with respect to certain former employees are ongoing. As previously disclosed, on December 13, 2017, the United States District Court for the Southern District of New York granted final approval of the settlement of the previously disclosed putative securities class action complaint filed in March 2016 by the Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefit Funds related to the review conducted by the Audit Committee of the Board of Directors. Pursuant to the approved settlement, without any admission of liability, the Company will pay $28.0 million to settle the claims. This amount is within the coverage amount of the Company’s applicable insurance policies and has been funded into escrow by the insurance carriers. The settlement provides for the release of, among others, the Company, its subsidiaries, and their respective current and former officers, directors and employees from the claims that were or could have been asserted in the class action litigation. During the year ended December 31, 2018, $8.5 million of the settlement amount was released from escrow per the court approved settlement agreement for the payment of plaintiff’s legal fees. The remaining settlement balance of $19.5 million remains in escrow pending final class distribution. As of March 31, 2019, the $19.5 million amount is included in Accounts payable, accrued expenses and other liabilities in the Company’s unaudited Condensed Consolidated Balance Sheets. Because the settlement amount is within the coverage amount of the Company’s applicable insurance policies, the Company accrued a receivable of $19.5 million as of March 31, 2019. This amount is included in Accounts receivable, net in the Company’s unaudited Condensed Consolidated Balance Sheets. As previously disclosed, certain institutional investors elected to opt out of the class action settlement and accordingly were not bound by the release and will not receive any of the class action settlement proceeds. On October 10, 2018, the Company entered into an agreement to settle these claims for $8.0 million . This amount, which was paid in full during the year ended December 31, 2018, was within the coverage amount of the Company’s applicable insurance policies and was paid by the insurance carriers. The settlement provides for the release of, among others, the Company, its subsidiaries, and their respective current and former officers, directors and employees from the claims that were or could have been asserted in the opt out lawsuit. Environmental matters Under various federal, state and local laws, ordinances and regulations, the Company may be or become liable for the costs of removal or remediation of certain hazardous or toxic substances released on or in the Company’s property or disposed of by the Company or its tenants, as well as certain other potential costs which could relate to hazardous or toxic substances (including governmental fines and injuries to persons and property). The Company does not believe that any resulting liability from such matters will have a material impact on the Company’s results of operations, cash flows, or financial position.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions In the ordinary course of conducting its business, the Company enters into agreements with its affiliates in relation to the leasing and management of its real estate assets. As of March 31, 2019 and December 31, 2018, there were no material receivables from or payables to related parties.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In preparing the unaudited Condensed Consolidated Financial Statements, the Company has evaluated events and transactions occurring after March 31, 2019 for recognition and/or disclosure purposes. Based on this evaluation, there were no subsequent events from March 31, 2019 through the date the financial statements were issued.

Nature of Business and Financ_2

Nature of Business and Financial Statement Presentation Nature of Business and Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Description of Business	Description of Business Brixmor Property Group Inc. and subsidiaries (collectively, the “Parent Company”) is an internally-managed real estate investment trust (“REIT”). Brixmor Operating Partnership LP and subsidiaries (collectively, the “Operating Partnership”) is the entity through which the Parent Company conducts substantially all of its operations and owns substantially all of its assets. The Parent Company owns 100% of the common stock of BPG Subsidiary Inc. (“BPG Sub”), which, in turn, is the sole member of Brixmor OP GP LLC (the “General Partner”), the sole general partner of the Operating Partnership. The Parent Company engages in the ownership, management, leasing, acquisition, disposition and redevelopment of retail shopping centers through the Operating Partnership, and has no other substantial assets or liabilities other than through its investment in the Operating Partnership. The Parent Company, the Operating Partnership and their controlled subsidiaries on a consolidated basis (collectively, the “Company” or “Brixmor”) believes it owns and operates one of the largest open air retail portfolios by gross leasable area (“GLA”) in the United States (“U.S.”), comprised primarily of community and neighborhood shopping centers. As of March 31, 2019, the Company’s portfolio was comprised of 422 shopping centers (the “Portfolio”) totaling approximately 73 million square feet of GLA. The Company’s high-quality national Portfolio is primarily located within established trade areas in the top 50 Metropolitan Statistical Areas in the U.S., and its shopping centers are primarily anchored by non-discretionary and value-oriented retailers, as well as consumer-oriented service providers. The Company does not distinguish its principal business or group its operations on a geographical basis for purposes of measuring performance. Accordingly, the Company has a single reportable segment for disclosure purposes in accordance with U.S. generally accepted accounting principles (“GAAP”).
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of the unaudited Condensed Consolidated Financial Statements for the periods presented have been included. The operating results for the periods presented are not necessarily indicative of the results that may be expected for a full fiscal year. These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2018 and accompanying notes included in the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 11, 2019. Certain prior period balances in the accompanying unaudited Condensed Consolidated Statements of Operations have been reclassified to conform to the current period presentation for the adoption of Accounting Standards Codification Topic 842 “Leases” (“ASC 842”) (described below), which supersedes Accounting Standards Codification Topic 840 “Leases” (“ASC 840”).
Principles of Consolidation	Principles of Consolidation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Parent Company, the Operating Partnership, each of their wholly owned subsidiaries and all other entities in which they have a controlling financial interest. All intercompany transactions have been eliminated.
Deferred Leasing and Financing Costs	Deferred Leasing and Financing Costs Costs incurred in executing tenant leases and long-term financings are capitalized and amortized using the straight-line method over the term of the related lease or debt agreement, which approximates the effective interest method. Capitalized costs incurred in executing tenant leases include tenant improvements and leasing commissions. In connection with the adoption of ASC 842, the Company no longer capitalizes partial salaries and/or legal fees incurred in executing tenant leases. These amounts were capitalized under previous guidance. For long-term financings, capitalized costs incurred include bank and legal fees. The amortization of deferred leasing and financing costs is included in Depreciation and amortization and Interest expense, respectively, in the Company’s unaudited Condensed Consolidated Statements of Operations and within Operating activities on the Company’s unaudited Condensed Consolidated Statements of Cash Flows.
Revenue Recognition	The Company enters into agreements with tenants which convey the right to control the use of identified space at its shopping centers in exchange for rental revenue. These agreements meet the criteria for recognition as leases under ASC 842. Rental revenue is recognized on a straight-line basis over the terms of the related leases. The cumulative difference between rental revenue recognized in the Company’s unaudited Condensed Consolidated Statements of Operations and contractual payment terms is recognized as deferred rent and presented on the accompanying unaudited Condensed Consolidated Balance Sheets within Receivables. The Company commences recognizing rental revenue based on the date its makes the underlying asset available for use by the tenant. Leases also typically provide for the reimbursement of operating costs, including common area expenses, utilities, insurance and real estate taxes by the lessee and are recognized in the period the applicable expenditures are incurred. In connection with the adoption of ASC 842, the Company has evaluated the lease and non-lease components within its leases and has elected the practical expedient to present lease and non-lease components in its lease agreements as one component. As such, the Company accounts for rental revenue and common area expense reimbursements as one lease component under ASC 842. These amounts are included in Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Additionally, the Company allocates the reimbursement of utilities, insurance and real estate taxes to the lease and non-lease components of its leases. These amounts are included in Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Certain leases also provide for percentage rents based upon the level of sales achieved by a lessee. These percentage rents are recognized upon the achievement of certain pre-determined sales levels and are included in Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Gains from the sale of depreciated operating properties are generally recognized under the full accrual method, provided that various criteria relating to the terms of the sale and subsequent involvement by the Company with the applicable property are met.
Receivables	The Company periodically evaluates the collectability of its receivables related to rental revenue, straight-line rent, expense reimbursements and those attributable to other revenue generating activities. The Company analyzes individual tenant receivables and considers tenant credit-worthiness, the length of time a receivable has been outstanding, and current economic trends when evaluating collectability. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. Any receivables that are deemed to be uncollectible are recognized as a reduction to Rental income in the Company’s unaudited Condensed Consolidated Statements of Operations. Prior period Provision for doubtful accounts is presented on the Company's unaudited Condensed Consolidated Statements of Operations in accordance with the Company's previous presentation and has not been reclassified to Rental income.
Leases	Leases The Company periodically enters into agreements in which it is the lessee, including ground leases for neighborhood and community shopping centers that it operates and office leases for administrative space. In connection with the adoption of ASC 842, the Company evaluated these agreements and determined that they meet the criteria for recognition as leases under ASC 842. For these agreements the Company recognizes an operating lease right-of-use (“ROU”) asset and operating lease liability based on the present value of the minimum lease payments over the non-cancellable lease term. As the rates implicit in the leases are not readily determinable the Company uses its incremental secured borrowing rate based on the information available at commencement date to determine the present value of the lease payments. The lease terms utilized by the Company may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The Company evaluates many factors, including current and future tenant cash flows, when determining if an option to extend or terminate should be included in the non-cancellable period. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has elected to apply the short-term lease exemption within ASC 842 and does not record an ROU asset or lease liability for leases with terms of less than 12 months. Additionally, leases also typically provide for the reimbursement of operating costs, including common area expenses, utilities, insurance and real estate taxes by the Company. In connection with the adoption of ASC 842, the Company has evaluated the lease and non-lease components within its leases and has elected the practical expedient to present lease and non-lease components in its lease agreements as one component. As such, the Company accounts for lease payments and common area expense reimbursements as one lease component under ASC 842. These amounts are included in Operating expenses in the Company’s unaudited Condensed Consolidated Statements of Operations. Additionally, the Company allocates the reimbursement of utilities, insurance and real estate taxes to the lease and non-lease components of its leases. These amounts are included in Operating expenses in the Company’s unaudited Condensed Consolidated Statements of Operations.
Income Taxes	Income Taxes The Parent Company has elected to qualify as a REIT in accordance with the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Parent Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute to its stockholders at least 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gains. It is management’s intention to adhere to these requirements and maintain the Parent Company’s REIT status. As a REIT, the Parent Company generally will not be subject to U.S. federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income as defined under the Code. The Parent Company conducts substantially all of its operations through the Operating Partnership which is organized as a limited partnership and treated as a pass-through entity for U.S. federal tax purposes. Therefore, U.S. federal income taxes on the Company’s taxable income do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal taxes at regular corporate rates (including any applicable alternative minimum tax for tax years beginning before January 1, 2018) and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Parent Company qualifies for taxation as a REIT, the Company is subject to certain state and local taxes on its income and property, and to U.S. federal income and excise taxes on its undistributed taxable income. The Parent Company has elected to treat certain of its subsidiaries as taxable REIT subsidiaries (“TRS”), and the Parent Company may in the future elect to treat newly formed and/or existing subsidiaries as TRSs. A TRS may participate in non-real estate related activities and/or perform non-customary services for tenants and is subject to certain limitations under the Code. A TRS is subject to U.S. federal and state income taxes. Income taxes related to the Parent Company’s TRSs do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. The Company has considered the tax positions taken for the open tax years and has concluded that no provision for income taxes related to uncertain tax positions is required in the Company’s unaudited Condensed Consolidated Financial Statements as of March 31, 2019 and December 31, 2018. Open tax years generally range from 2015 through 2018, but may vary by jurisdiction and issue. The Company recognizes penalties and interest accrued related to unrecognized tax benefits as income tax expense, which is included in Other on the Company’s unaudited Condensed Consolidated Statements of Operations.
New Accounting Pronouncements	New Accounting Pronouncements In November 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses.” ASU 2018-19 clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with ASC 842, Leases. The standard is effective on January 1, 2020, with early adoption permitted. The Company does not expect the adoption of ASU 2018-19 to have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. Information regarding the adoption of ASC 842 is described below. In October 2018, the FASB issued ASU 2018-16, “Derivatives and Hedging (Topic 815).” ASU 2018-16 amends guidance to permit the use of the Overnight Index Swap rate based on the Secured Overnight Financing Rate as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815. The standard became effective for the Company on January 1, 2019. The Company determined that these changes did not have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement (Topic 820) .” ASU 2018-13 amends certain disclosure requirements regarding the fair value hierarchy of investments in accordance with GAAP, particularly the significant unobservable inputs used to value investments within Level 3 of the fair value hierarchy. The standard is effective on January 1, 2020, with early adoption permitted. The Company does not expect the adoption of ASU 2018-13 to have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842). ” ASU 2016-02 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). ASU 2016-02 was subsequently amended by ASU 2018-01, “ Land Easement Practical Expedient for Transition to Topic 842 ”; ASU 2018-10, “ Codification Improvements to Topic 842 ”; ASU 2018-11, “ Targeted Improvements ”; and ASU 2018-20, “ Narrow-Scope Improvements for Lessors ”. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to recognize an ROU asset and a lease liability for all leases with a term of greater than 12 months, regardless of their classification. Leases with a term of 12 months or less qualify for the short-term lease recognition exemption and may be accounted for similar to previous guidance for operating leases. The new standard requires lessors to account for leases using an approach that is substantially equivalent to previous guidance for sales-type leases, direct financing leases and operating leases. Adoption The standard became effective for the Company on January 1, 2019 and a modified retrospective transition approach was required. The Company determined that the adoption of ASC 842 had a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. The Company elected the following optional practical expedients upon adoption: • The Company did not reassess whether a current arrangement contains a lease. (ASU 2016-02) • The Company did not reassess current lease classification. (ASU 2016-02) • The Company did not reassess initial direct costs recognized under previous guidance. (ASU 2016-02) • The Company did not reassess current land easements under ASC 842. (ASU 2018-01) • The Company applied ASC 842 as of the effective date. Therefore, the Company’s reporting for the comparative periods presented in the unaudited Condensed Consolidated Financial Statements of the Company will continue to be in accordance with ASC 840, however certain prior period balances in the accompanying unaudited Condensed Consolidated Statements of Operations have been reclassified to conform to the current period presentation. The Company recognized a $2.0 million cumulative adjustment to decrease retained earnings for indirect leasing costs capitalized for executed leases that had not commenced as of the adoption date of ASC 842. (ASU 2018-11) • The Company elected, by class of underlying asset, not to separate non-lease components from the associated lease components and instead account for them as a single component. This resulted in the consolidation of Rental income and Expense reimbursements on the Company’s unaudited Condensed Consolidated Statements of Operations. (ASU 2018-11) Lessee For leases where the Company is the lessee, primarily for the Company’s ground leases and administrative office leases, the Company is required to record a right of use asset and a lease liability on its unaudited Condensed Consolidated Balance Sheets on the effective date. The Company has elected to apply the short-term lease recognition exemption for all leases that qualify. Lessor For leases where the Company is the lessor, the Company will continue to record revenues from rental properties for its operating leases on a straight-line basis. In addition, initial direct leasing costs continue to be capitalized, however, indirect leasing costs previously capitalized are being expensed under ASC 842. During the three months ended March 31, 2018, the Company capitalized $3.0 million of indirect leasing costs, including leasing payroll and legal costs. In addition, ASC 842 requires that additional lease disclosures be presented in the unaudited Condensed Consolidated Financial Statements of the Company for both lessor and lessee lease agreements. See Notes 9 and 10 for additional information. Any other recently issued accounting standards or pronouncements not disclosed above have been excluded as they either are not relevant to the Company, or they are not expected to have a material effect on the unaudited Condensed Consolidated Financial Statements of the Company.

Dispositions and Assets Held _2

Dispositions and Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Reclassificationa of Disposal Groups, Including Discontinued Operations	The following table presents the assets and liabilities associated with the properties classified as held for sale: Assets March 31, 2019 December 31, 2018 Land $ 1,412 $ 1,220 Buildings and improvements 10,935 2,927 Accumulated depreciation and amortization (3,356 ) (1,334 ) Real estate, net 8,991 2,813 Other assets 102 88 Assets associated with real estate assets held for sale $ 9,093 $ 2,901 Liabilities Below-market leases $ 444 $ — Liabilities associated with real estate assets held for sale (1) $ 444 $ — (1) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Schedule of real estate properties	The Company’s components of Real estate, net consisted of the following: March 31, 2019 December 31, 2018 Land $ 1,794,709 $ 1,804,504 Buildings and improvements: Buildings and tenant improvements (1) 7,626,515 7,626,363 Lease intangibles (2) 652,561 667,910 10,073,785 10,098,777 Accumulated depreciation and amortization (3) (2,386,092 ) (2,349,127 ) Total $ 7,687,693 $ 7,749,650 (1) As of March 31, 2019 and December 31, 2018, Buildings and tenant improvements included accrued amounts, net of anticipated insurance proceeds, of $ 38.9 million and $ 41.7 million , respectively. (2) As of March 31, 2019 and December 31, 2018, Lease intangibles consisted of $587.6 million and $601.0 million , respectively, of in-place leases and $65.0 million and $66.9 million , respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (3) As of March 31, 2019 and December 31, 2018, Accumulated depreciation and amortization included $553.7 million and $560.3 million , respectively, of accumulated amortization related to Lease intangibles.
Schedule of expected net amortization expense associated with intangible assets and liabilities	The Company’s estimated below-market lease accretion income, net of above-market lease amortization expense, and in-place lease amortization expense for the next five years are as follows: Year ending December 31, Below-market lease accretion (income), net of above-market lease amortization In-place lease amortization expense 2019 (remaining nine months) $ (13,278 ) $ 17,382 2020 (14,757 ) 17,615 2021 (11,982 ) 12,711 2022 (9,869 ) 9,353 2023 (8,473 ) 6,846

Impairments (Tables)

Impairments (Tables)	3 Months Ended
	Mar. 31, 2019
Impairment of Real Estate [Abstract]
Schedule of Impairments	The Company recognized the following impairments during the three months ended March 31, 2019: Three Months Ended March 31, 2019 Property Name (1) Location GLA Impairment Charge Brice Park Reynoldsburg, OH 158,565 $ 3,112 158,565 $ 3,112 (1) The Company recognized an impairment charge based upon a change in the estimated hold period of this property in connection with the Company’s capital recycling program. The Company recognized the following impairments during the three months ended March 31, 2018: Three Months Ended March 31, 2018 Property Name (1) Location GLA Impairment Charge Southland Shopping Plaza (2) Toledo, OH 285,278 $ 6,942 Roundtree Place (2) Ypsilanti, MI 246,620 3,772 Skyway Plaza St. Petersburg, FL 110,799 3,639 Pensacola Square (2) Pensacola, FL 142,767 1,345 Crossroads Centre (2) Fairview Heights, IL 242,752 204 1,028,216 $ 15,902 (1) The Company recognized impairment charges based upon a change in the estimated hold period of these properties in connection with the Company’s capital recycling program. (2) The Company disposed of this property during the year ended December 31, 2018.

Financial Instruments - Deriv_2

Financial Instruments - Derivatives and Hedging (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate derivatives	Detail on the Company’s interest rate derivatives designated as cash flow hedges outstanding as of March 31, 2019 and December 31, 2018 is as follows: Number of Instruments Notional Amount March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Interest Rate Swaps 7 10 $ 800,000 $ 1,200,000
Schedule of derivative instruments in Statement of Financial Position, fair value	Detail on the Company’s fair value of interest rate derivatives on a gross and net basis as of March 31, 2019 and December 31, 2018, respectively, is as follows: Fair Value of Derivative Instruments Interest rate swaps classified as: March 31, 2019 December 31, 2018 Gross derivative assets $ 12,788 $ 18,630 Gross derivative liabilities (6,786 ) (2,571 ) Net derivative assets $ 6,002 $ 16,059
Schedule of Derivatives in Cash Flow Hedging Relationships	The effective portion of the Company’s interest rate swaps that was recognized in the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2019 and 2018 is as follows: Derivatives in Cash Flow Hedging Relationships (Interest Rate Swaps) Three Months Ended March 31, 2019 2018 Change in unrealized gain (loss) on interest rate swaps $ (6,944 ) $ 7,234 Accretion of interest rate swaps to interest expense (3,113 ) (2,461 ) Change in unrealized gain (loss) on interest rate swaps, net $ (10,057 ) $ 4,773

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt obligations under various arrangements with financial institutions	As of March 31, 2019 and December 31, 2018, the Company had the following indebtedness outstanding: Carrying Value as of March 31, 2019 December 31, Stated Interest Rate (1) Scheduled Maturity Date Secured loan Secured loan (2) $ 7,000 $ 7,000 4.40% 2024 Net unamortized premium 250 262 Net unamortized debt issuance costs (43 ) (45 ) Total secured loan, net $ 7,207 $ 7,217 Notes payable Unsecured notes (3) $ 3,468,453 $ 3,468,453 3.25% – 7.97% 2022 – 2029 Net unamortized discount (11,082 ) (11,562 ) Net unamortized debt issuance costs (19,902 ) (20,877 ) Total notes payable, net $ 3,437,469 $ 3,436,014 Unsecured Credit Facility and term loans Unsecured Credit Facility - $500 Million Term Loan (4) $ 500,000 $ 500,000 3.74% 2021 Unsecured Credit Facility - Revolving Facility 291,000 306,000 3.59% 2023 Unsecured $350 Million Term Loan 350,000 350,000 3.74% 2023 Unsecured $300 Million Term Loan (5) 300,000 300,000 4.39% 2024 Net unamortized debt issuance costs (12,611 ) (13,368 ) Total Unsecured Credit Facility and term loans $ 1,428,389 $ 1,442,632 Total debt obligations, net $ 4,873,065 $ 4,885,863 (1) The stated interest rates are as of March 31, 2019 and do not include the impact of the Company’s interest rate swap agreements (described below). (2) The Company’s secured loan is collateralized by a property with a carrying value of approximately $16.3 million as of March 31, 2019. (3) The weighted average stated interest rate on the Company’s unsecured notes was 3.81% as of March 31, 2019. (4) Effective November 1, 2016, the Company has in place three interest rate swap agreements that convert the variable interest rate on a $500.0 million term loan (the “$500 Million Term Loan”) under the Company’s senior unsecured credit facility agreement, as amended December 12, 2018, (the “Unsecured Credit Facility”) to a fixed, combined interest rate of 1.11% (plus a spread of 125 basis points) through July 30, 2021. (5) Effective January 2, 2019, the Company has in place four interest rate swap agreements that convert the variable interest rate on the Company’s $300.0 million term loan agreement, as amended December 12, 2018 (the “$300 Million Term Loan”) to a fixed, combined interest rate of 2.61% (plus a spread of 190 basis points until July 28, 2019, which decreases to 125 basis points thereafter) through July 26, 2024.
Future expected/scheduled maturities of outstanding debt and capital lease obligations	As of March 31, 2019 and December 31, 2018, the Company had accrued interest of $27.2 million and $34.0 million outstanding, respectively. As of March 31, 2019, scheduled amortization and maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2019 (remaining nine months) $ — 2020 — 2021 500,000 2022 750,000 2023 1,141,000 Thereafter 2,525,453 Total debt maturities 4,916,453 Net unamortized discount (10,832 ) Net unamortized debt issuance costs (32,556 ) Total debt obligations, net $ 4,873,065

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Debt Obligation	All financial instruments of the Company are reflected in the accompanying unaudited Condensed Consolidated Balance Sheets at amounts which, in management’s judgment, reasonably approximate their fair values, except those instruments listed below: March 31, 2019 December 31, 2018 Carrying Amounts Fair Value Carrying Fair Secured loans $ 7,207 $ 7,172 $ 7,217 $ 7,072 Notes payable 3,437,469 3,462,929 3,436,014 3,372,418 Unsecured Credit Facility and term loans 1,428,389 1,436,953 1,442,632 1,452,382 Total debt obligations, net $ 4,873,065 $ 4,907,054 $ 4,885,863 $ 4,831,872
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of March 31, 2019 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Marketable securities (1) $ 29,634 $ 1,535 $ 28,099 $ — Interest rate derivatives $ 12,788 $ — $ 12,788 $ — Liabilities: Interest rate derivatives $ (6,786 ) $ — $ (6,786 ) $ — Fair Value Measurements as of December 31, 2018 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Marketable securities (1) $ 30,243 $ 1,756 $ 28,487 $ — Interest rate derivatives $ 18,630 $ — $ 18,630 $ — Liabilities: Interest rate derivatives $ (2,571 ) $ — $ (2,571 ) $ — (1) As of March 31, 2019 and December 31, 2018, marketable securities included less than $0.1 million of net unrealized gains and $0.1 million of net unrealized losses, respectively. As of March 31, 2019, the contractual maturities of the Company’s marketable securities are within the next five years.
Fair Value Measurements, Nonrecurring	The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a non-recurring basis. The table includes information related to properties that were remeasured to fair value as a result of impairment testing during the three months ended March 31, 2019 and during the year ended December 31, 2018, excluding the properties sold prior to March 31, 2019 and December 31, 2018, respectively: Fair Value Measurements as of March 31, 2019 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impairment of Real Estate Assets Assets: Properties (1) $ 9,700 $ — $ — $ 9,700 $ 3,112 Fair Value Measurements as of December 31, 2018 Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impairment of Real Estate Assets Assets: Properties (2)(3)(4) $ 31,725 $ — $ — $ 31,725 $ 16,303 (1) The carrying value of the property remeasured to fair value based upon offers from third-party buyers during the three months ended March 31, 2019 is $9.7 million related to Brice Park. (2) Excludes properties disposed of prior to December 31, 2018. (3) The carrying value of properties remeasured to fair value based upon offers from third-party buyers during the year ended December 31, 2018 includes $26.1 million related to Westview Center. (4) The carrying value of properties remeasured to fair value based upon a discounted cash flow analysis during the year ended December 31, 2018 includes: (i) $2.9 million related to Skyway Plaza and (ii) $2.7 million related to Covington Gallery. The capitalization rates (ranging from 9.0% to 9.3% ) and discount rates (ranging from 6.0% to 10.4% ) which were utilized in the discounted cash flow analyses were based upon unobservable rates that the Company believes to be within a reasonable range of current market rates for each respective investment.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue Recognition [Abstract]
Lessor, Operating Lease, Payments to be Received, Maturity	As of March 31, 2019, the fixed contractual lease payments to be received over the next five years pursuant to the terms of non-cancelable operating leases are included in the table below, assuming that no leases are renewed and no renewal options are exercised. Additionally, the table does not include variable lease payments which may be received under certain leases for percentage rents or the reimbursement of operating costs, such as common area expenses, utilities, insurance and real estate taxes. These variable lease payments are recognized in the period when the applicable expenditures are incurred or in the case of percentage rents when the sales data is made available. Year ending December 31, Operating Leases 2019 (remaining nine months) $ 626,724 2020 751,081 2021 640,651 2022 529,569 2023 430,870 Thereafter 1,501,400
Operating Leases, Future Minimum Payments Receivable	Future minimum annual base rents as of and in-place at December 31, 2018 to be received over the next five years pursuant to the terms of non-cancelable operating leases are included in the table below, assuming that no leases are renewed and no renewal options are exercised. Future minimum annual base rents also do not include payments which may be received under certain leases for percentage rent or the reimbursement of operating costs, such as common area expenses, utilities, insurance and real estate taxes. Year ending December 31, Operating Leases 2019 $ 811,381 2020 709,230 2021 599,367 2022 490,087 2023 392,892 Thereafter 1,368,278

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Operating Leases	The following table presents additional information pertaining to the Company’s operating leases: Three Months Ended March 31, 2019 Supplemental Statements of Operations Information Operating lease costs $ 1,711 Short-term lease costs 10 Variable lease costs 142 Total lease costs $ 1,863 Three Months Ended March 31, 2019 Supplemental Statements of Cash Flows Information Operating cash outflows from operating leases $ 1,797 ROU assets obtained in exchange for operating lease liabilities $ 44,324 Operating Lease Liabilities As of March 31, 2019 Future minimum operating lease payments: 2019 (remaining nine months) $ 5,180 2020 6,924 2021 6,964 2022 7,022 2023 5,635 Thereafter 30,912 Total future minimum operating lease payments 62,637 Less: imputed interest (14,441 ) Operating lease liabilities $ 48,196 Supplemental Balance Sheets Information As of March 31, 2019 Operating lease liabilities (1)(2)(3) $ 48,196 ROU assets (1)(2)(4) $ 43,146 (1) As of March 31, 2019, the weighted average remaining lease term was 11.3 years . (2) As of March 31, 2019, the weighted average discount rate was 4.30% . (3) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. (4) These amounts are included in Other assets on the Company’s unaudited Condensed Consolidated Balance Sheets.
Schedule of Future Minimum Rental Payments for Operating Leases	Minimum annual rental commitments as of and in-place at December 31, 2018 for the Company's ground and office leases during the next five years and thereafter are as follows: Year ending December 31, 2019 $ 6,929 2020 6,948 2021 7,157 2022 7,233 2023 5,827 Thereafter 43,876 Total minimum annual rental commitments $ 77,970

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2019 and 2018 (dollars in thousands, except per share data): Three Months Ended March 31, 2019 2018 Computation of Basic Earnings Per Share: Net income $ 62,900 $ 61,022 Non-forfeitable dividends on unvested restricted shares (144 ) (56 ) Net income attributable to the Company’s common stockholders for basic earnings per share $ 62,756 $ 60,966 Weighted average number shares outstanding – basic 298,599 304,158 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 62,756 $ 60,966 Weighted average shares outstanding – basic 298,599 304,158 Effect of dilutive securities: Equity awards 430 120 Weighted average shares outstanding – diluted 299,029 304,278 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20

Earnings per Unit (Tables)

Earnings per Unit (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Earnings per Share [Line Items]
Schedule of earnings per unit, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2019 and 2018 (dollars in thousands, except per share data): Three Months Ended March 31, 2019 2018 Computation of Basic Earnings Per Share: Net income $ 62,900 $ 61,022 Non-forfeitable dividends on unvested restricted shares (144 ) (56 ) Net income attributable to the Company’s common stockholders for basic earnings per share $ 62,756 $ 60,966 Weighted average number shares outstanding – basic 298,599 304,158 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 62,756 $ 60,966 Weighted average shares outstanding – basic 298,599 304,158 Effect of dilutive securities: Equity awards 430 120 Weighted average shares outstanding – diluted 299,029 304,278 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.21 $ 0.20
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Schedule of earnings per unit, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the earnings per unit calculations for the three months ended March 31, 2019 and 2018 (dollars in thousands, except per unit data): Three Months Ended March 31, 2019 2018 Computation of Basic Earnings Per Unit: Net income $ 62,900 $ 61,022 Non-forfeitable dividends on unvested restricted units (144 ) (56 ) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 62,756 $ 60,966 Weighted average number common units outstanding – basic 298,599 304,158 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.21 $ 0.20 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 62,756 $ 60,966 Weighted average common units outstanding – basic 298,599 304,158 Effect of dilutive securities: Equity awards 430 120 Weighted average common units outstanding – diluted 299,029 304,278 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.21 $ 0.20

Nature of Business and Financ_3

Nature of Business and Financial Statement Presentation (Narrative) (Details) ft² in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)ft²Property	Mar. 31, 2018USD ($)
Nture of Oerations and Financial Statements Presentation [Line Items]
Capitalized indirect internal leasing overhead costs	$ 2
Accounting Standards Update 2016-02
Nture of Oerations and Financial Statements Presentation [Line Items]
Capitalized indirect internal leasing overhead costs		$ 3
Shopping Center
Nture of Oerations and Financial Statements Presentation [Line Items]
Number of real estate properties | Property	422
GLA | ft²	73
Parent Company | BPG Sub
Nture of Oerations and Financial Statements Presentation [Line Items]
Ownership percentage	100.00%

Dispositions and Assets Held _3

Dispositions and Assets Held for Sale (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)propertyshopping_center	Mar. 31, 2018USD ($)land_parcelshopping_center	Dec. 31, 2018property
Schedule of Acquisitions and Dispositions [Line Items]
Gain on sale	$ 7,602	$ 11,448
Disposed of by Sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of shopping centers sold | shopping_center	3	6
Proceeds from sale of property	$ 44,900	$ 104,200
Gain on sale	7,300	$ 11,400
Number of outparcels sold | land_parcel		1
Provisions of impairment		$ 200
Disposed of by Sale | Previously Disposed Assets
Schedule of Acquisitions and Dispositions [Line Items]
Proceeds from sale of property	$ 300
Held-for-sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of real estate properties | property	1		1
Number of real estate partial properties | property	1

Dispositions and Assets Held _4

Dispositions and Assets Held for Sale (Held for Sale) (Details) $ in Thousands	Mar. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets associated with real estate assets held for sale	$ 9,093	$ 2,901
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | property	1	1
Land	$ 1,412	$ 1,220
Buildings and improvements	10,935	2,927
Accumulated depreciation and amortization	(3,356)	(1,334)
Real estate, net	8,991	2,813
Other assets	102	88
Assets associated with real estate assets held for sale	9,093	2,901
Below-market leases	444	0
Liabilities associated with real estate assets held for sale	$ 444	$ 0

Real Estate (Properties) (Detai

Real Estate (Properties) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Land	$ 1,794,709		$ 1,804,504
Building and tenant improvements	7,626,515		7,626,363
Lease intangibles	652,561		667,910
Real estate, gross	10,073,785		10,098,777
Accumulated depreciation and amortization	(2,386,092)		(2,349,127)
Real estate, net	7,687,693		7,749,650
Accrued capital expenditures and tenant improvements	38,900		41,700
Accumulated amortization	553,700		560,300
Intangible liabilities relating to below-market leases	385,300		392,900
Accumulated amortization on below-market leases	265,300		266,100
Below-market lease intangible amortization	4,900	$ 6,800
Amortization of intangible assets	6,500	$ 9,300
Leases, acquired-in-place
Real Estate Owned, Disclosure of Detailed Components [Abstract]
In-place lease value	587,600		601,000
In-place lease amortization expense
2019 (remaining nine months)	17,382
2020	17,615
2021	12,711
2022	9,353
2023	6,846
Above market leases
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Above market leases	65,000		$ 66,900
Below-market lease accretion (income), net of above-market lease amortization
Below-market lease accretion (income), net of above-market lease amortization
2019 (remaining nine months)	(13,278)
2020	(14,757)
2021	(11,982)
2022	(9,869)
2023	$ (8,473)

Real Estate (Damages) (Details)

Real Estate (Damages) (Details) - Hurricane Michael ft² in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)	Oct. 07, 2018ft²property
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Number of properties effected in catastrophic event | property		2
GLA of properties effected | ft²		0.4
Properties effected, accelerated depreciation	$ 13.7
Proceeds from property insurance	3
Receivables
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Property insurance receivable	$ 10.7

Impairments (Details)

Impairments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)ft²	Mar. 31, 2018USD ($)ft²
Real Estate Properties [Line Items]
GLA | ft²	158,565	1,028,216
Impairment Charge | $	$ 3,112	$ 15,902
Brice Park
Real Estate Properties [Line Items]
GLA | ft²	158,565
Impairment Charge | $	$ 3,112
Southland Shopping Plaza
Real Estate Properties [Line Items]
GLA | ft²		285,278
Impairment Charge | $		$ 6,942
Roundtree Place
Real Estate Properties [Line Items]
GLA | ft²		246,620
Impairment Charge | $		$ 3,772
Skyway Plaza
Real Estate Properties [Line Items]
GLA | ft²		110,799
Impairment Charge | $		$ 3,639
Pensacola Square
Real Estate Properties [Line Items]
GLA | ft²		142,767
Impairment Charge | $		$ 1,345
Crossroads Center
Real Estate Properties [Line Items]
GLA | ft²		242,752
Impairment Charge | $		$ 204

Financial Instruments - Deriv_3

Financial Instruments - Derivatives and Hedging (Notional Amount) (Details)	3 Months Ended
	Mar. 31, 2019USD ($)derivative_instrument	Dec. 31, 2018USD ($)derivative_instrument
Derivative [Line Items]
Amount expected to be reclassified from accumulated other comprehensive loss in the next twelve months	$ 5,800,000
Interest Rate Swap | Designated as Hedging Instrument
Derivative [Line Items]
Number of Instruments | derivative_instrument	7	10
Notional Amount	$ 800,000,000	$ 1,200,000,000
Effective Date January 2, 2019 | Interest Rate Swap | Designated as Hedging Instrument
Derivative [Line Items]
Number of Instruments | derivative_instrument	0	4
Notional Amount		$ 300,000,000
Fixed interest rate		2.61%

Financial Instruments - Deriv_4

Financial Instruments - Derivatives and Hedging (Fair Value) (Details) - Interest Rate Swap - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Gross derivative assets	$ 12,788	$ 18,630
Gross derivative liabilities	(6,786)	(2,571)
Net derivative assets	$ 6,002	$ 16,059

Financial Instruments - Deriv_5

Financial Instruments - Derivatives and Hedging (Cash Flow Hedging Relationship) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Change in unrealized gain (loss) on interest rate swaps	$ (6,944)	$ 7,234
Accretion of interest rate swaps to interest expense	(3,113)	(2,461)
Change in unrealized gain (loss) on interest rate swaps, net	$ (10,057)	$ 4,773

Debt Obligations (Shedule of De

Debt Obligations (Shedule of Debt) (Details)	3 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 12, 2018USD ($)derivative_instrument
Debt obligations under various arrangements with financial institutions
Long-term debt	$ 4,916,453,000
Net unamortized debt issuance costs	(32,556,000)
Net unamortized discount	(10,832,000)
Total debt obligations	4,873,065,000	$ 4,885,863,000
Collateral carrying value	0
Term Loan | Unsecured $500 Million Term Loan | Interest Rate Swap
Debt obligations under various arrangements with financial institutions
Number of Instruments | derivative_instrument			3
Secured Debt
Debt obligations under various arrangements with financial institutions
Long-term debt	7,000,000	7,000,000
Net unamortized discount	250,000	262,000
Net unamortized debt issuance costs	(43,000)	(45,000)
Long-term Debt	$ 7,207,000	7,217,000
Stated percentage	4.40%
Unsecured Debt
Debt obligations under various arrangements with financial institutions
Long-term debt	$ 3,468,453,000	3,468,453,000
Net unamortized debt issuance costs	(19,902,000)	(20,877,000)
Net unamortized discount	(11,082,000)	(11,562,000)
Long-term Debt	$ 3,437,469,000	3,436,014,000
Weighted average fixed interest rate	3.81%
Unsecured Debt | Minimum
Debt obligations under various arrangements with financial institutions
Stated percentage	3.25%
Unsecured Debt | Maximum
Debt obligations under various arrangements with financial institutions
Stated percentage	7.97%
Unsecured Debt | Term Loan
Debt obligations under various arrangements with financial institutions
Long-term debt	$ 500,000,000	500,000,000
Stated percentage	3.74%
Unsecured Debt | Term Loan | Unsecured $350 Million Term Loan
Debt obligations under various arrangements with financial institutions
Long-term debt	$ 350,000,000	350,000,000
Stated percentage	3.74%
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan
Debt obligations under various arrangements with financial institutions
Long-term debt	$ 300,000,000	300,000,000
Stated percentage	4.39%
Term loan face amount			$ 300,000,000
Effective percentage			2.61%
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan | Interest Rate Swap
Debt obligations under various arrangements with financial institutions
Number of Instruments | derivative_instrument			4
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan | Through July 28, 2019
Debt obligations under various arrangements with financial institutions
Stated spread rate	1.90%
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan | Through July 26, 2024
Debt obligations under various arrangements with financial institutions
Stated spread rate	1.25%
Unsecured Debt | Term Loan | Unsecured $500 Million Term Loan
Debt obligations under various arrangements with financial institutions
Stated spread rate	1.25%
Term loan face amount			$ 500,000,000
Effective percentage			1.11%
Unsecured Debt | Unsecured Credit Facility
Debt obligations under various arrangements with financial institutions
Long-term debt	$ 291,000,000	306,000,000
Stated percentage	3.59%
Unsecured Debt | Unsecured Credit Facility and Term Loan
Debt obligations under various arrangements with financial institutions
Net unamortized debt issuance costs	$ (12,611,000)	(13,368,000)
Long-term Debt	$ 1,428,389,000	$ 1,442,632,000

Debt Obligations (Maturities) (

Debt Obligations (Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Interest payable	$ 27,200	$ 34,000
Future expected/scheduled maturities of outstanding debt and capital lease
2019 (remaining nine months)	0
2020	0
2021	500,000
2022	750,000
2023	1,141,000
Thereafter	2,525,453
Total debt maturities	4,916,453
Net unamortized discount	(10,832)
Net unamortized debt issuance costs	(32,556)
Total debt obligations, net	$ 4,873,065	$ 4,885,863

Fair Value Disclosures (Debt Ob

Fair Value Disclosures (Debt Obligations) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Mortgages and secured loans payable	$ 4,873,065	$ 4,885,863
Total debt obligations, net	4,873,065	4,885,863
Carrying Amount
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Mortgages and secured loans payable	7,207	7,217
Notes payable	3,437,469	3,436,014
Unsecured credit facility and term loan	1,428,389	1,442,632
Total debt obligations, net	4,873,065	4,885,863
Fair Value
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Mortgages and secured loans payable	7,172	7,072
Notes payable	3,462,929	3,372,418
Unsecured credit facility and term loan	1,436,953	1,452,382
Total debt obligations	$ 4,907,054	$ 4,831,872

Fair Value Disclosures (Measure

Fair Value Disclosures (Measurements) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate	$ 3,112	$ 15,902
Westview Center
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	26,100
Skyway Plaza
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	2,900
Covington Gallery
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	2,700
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, unrealized losses	$ (100)		$ (100)
Terminal capitalization rates	9.30%
Discount rates	10.40%
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal capitalization rates	9.00%
Discount rates	6.00%
Fair Value, Measurements, Recurring | Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 29,634		30,243
Fair Value, Measurements, Recurring | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	12,788		18,630
Derivative liability	(6,786)		(2,571)
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1,535		1,756
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		0
Derivative liability	0		0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	28,099		28,487
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	12,788		18,630
Derivative liability	(6,786)		(2,571)
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		0
Derivative liability	0		0
Fair Value, Measurements, Nonrecurring | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	9,700		31,725
Impairment of real estate	3,112		16,303
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		0
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		0
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 9,700		$ 31,725

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Revenue Recognition [Abstract]
Performance obligation, description of timing	The agreements range in term from less than one year to 25 or more years, with certain agreements containing extension options. These extension options range from as little as one month to five or more years.
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
2019 (remaining nine months)	$ 626,724
2020	751,081
2021	640,651
2022	529,569
2023	430,870
Thereafter	$ 1,501,400
Operating Leases, Future Minimum Payments Receivable [Abstract]
2019		$ 811,381
2020		709,230
2021		599,367
2022		490,087
2023		392,892
Thereafter		$ 1,368,278

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Additional term of contract	100 years
Supplemental Statements of Operations Information
Operating lease costs	$ 1,711
Short-term lease costs	10
Variable lease costs	142
Total lease costs	1,863
Operating cash outflows from operating leases	1,797
ROU assets obtained in exchange for operating lease liabilities	44,324
Operating Lease Liabilities
2019 (remaining nine months)	5,180
2020	6,924
2021	6,964
2022	7,022
2023	5,635
Thereafter	30,912
Total future minimum operating lease payments	62,637
Less: imputed interest	(14,441)
Operating lease liabilities	48,196
ROU asset	$ 43,146
Weighted average remaining lease term	11 years 3 months 18 days
Weighted average discount rate	4.30%
Minimum Annual Rental Commitments As Presented Under ASC 840
2019		$ 6,929
2020		6,948
2021		7,157
2022		7,233
2023		5,827
Thereafter		43,876
Total minimum annual rental commitments		$ 77,970
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	50 years

Equity and Capital (Details)

Equity and Capital (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 05, 2017
Schedule of Shareholders' Equity [Line Items]
Compensation cost	$ 0.1	$ 0.1
Available repurchase amount	$ 278
Dividends, per common share	$ 0.28	$ 0.275
Accounts Payable and Accrued Liabilities
Schedule of Shareholders' Equity [Line Items]
Dividends payable	$ 85	$ 85.3
Common Stock
Schedule of Shareholders' Equity [Line Items]
Share repurchase program, number of shares authorized (in shares)	700,000	1,900,000
Share repurchase program, average cost per share	$ 17.53	$ 15.47
Share repurchase program, value	$ 11.6	$ 29.7
Stock repurchased during period, shares	660,000	1,922,000
Common Stock | RSUs
Schedule of Shareholders' Equity [Line Items]
Stock repurchased during period, shares	100,000	100,000
Common Stock | Maximum
Schedule of Shareholders' Equity [Line Items]
Share repurchase program, authorized amount			$ 400

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	15
Grants in period	0.7	0.8
Risk free interest rate	2.55%
Expected dividend rate	5.60%	5.60%
Equity based compensation	$ 2,641	$ 2,484
Compensation cost not yet recognized	$ 25,300
Weighted average remaining contractual term	2 years 6 months
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	1 year
Expected volatility rate	20.00%	29.00%
Risk free interest rate		2.43%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	5 years
Expected volatility rate	21.00%	32.00%
Risk free interest rate		2.53%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share, Basic [Abstract]
Net income	$ 62,900	$ 61,022
Non-forfeitable dividends on unvested restricted shares	(144)	(56)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 62,756	$ 60,966
Weighted average number shares outstanding – basic	298,599	304,158
Net income per share (usd per share)	$ 0.21	$ 0.20
Computation of Diluted Earnings Per Share:
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 62,756	$ 60,966
Equity awards (in shares)	430	120
Weighted average shares outstanding - diluted (in shares)	299,029	304,278
Net income per share (usd per share)	$ 0.21	$ 0.20

Earnings per Unit (Details)

Earnings per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Earnings per Share [Line Items]
Net income	$ 62,900	$ 61,022
Non-forfeitable dividends on unvested restricted shares	(144)	(56)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 62,756	$ 60,966
Weighted average number shares outstanding – basic	298,599	304,158
Net income per share (usd per share)	$ 0.21	$ 0.20
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 62,756	$ 60,966
Equity awards (in shares)	430	120
Weighted average shares outstanding - diluted (in shares)	299,029	304,278
Net income per share (usd per share)	$ 0.21	$ 0.20
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Net income	$ 62,900	$ 61,022
Non-forfeitable dividends on unvested restricted shares	(144)	(56)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 62,756	$ 60,966
Weighted average number shares outstanding – basic	298,599	304,158
Net income per share (usd per share)	$ 0.21	$ 0.20
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 62,756	$ 60,966
Equity awards (in shares)	430	120
Weighted average shares outstanding - diluted (in shares)	299,029	304,278
Net income per share (usd per share)	$ 0.21	$ 0.20

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Oct. 10, 2018
Loss Contingencies [Line Items]
Estimate of possible loss		$ 28
Litigation settlement	$ 8.5
Accrual	19.5
Case No. 653091/2018
Loss Contingencies [Line Items]
Estimate of possible loss			$ 8
Pending Litigation
Loss Contingencies [Line Items]
Estimate of possible loss	7
Accounts Payable and Accrued Liabilities
Loss Contingencies [Line Items]
Accrual	19.5
Accounts Receivable
Loss Contingencies [Line Items]
Receivable	19.5
General and Administrative Expense | Pending Litigation
Loss Contingencies [Line Items]
Accrual	$ 7