Pay vs Performance Disclosure | 12 Months Ended |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Pay vs Performance Disclosure [Table] | | | |
Pay vs Performance [Table Text Block] | Pay Versus Performance As required by new pay versus performance (“PVP”) rules adopted by the SEC in 2022 and in effect for the first time for this Proxy Statement, the following Pay Versus Performance table (“PVP Table”) provides SEC-required • The information in columns (b) and (d) of the PVP Table comes directly from our Summary Compensation Tables for the relevant years, without adjustment; • As required by the SEC’s PVP rules, we label the information in columns (c) and (e) of the PVP Table as “compensation actually paid” (or “CAP”) to the applicable PVP NEOs. However, these CAP amounts do not necessarily reflect “take home pay” or the final compensation that our PVP NEOs actually earned or walked away with for their service in the Covered Years. Instead, the SEC’s concept of CAP reflects a combination of realized pay (for cash and certain equity awards) and realizable or accrued pay (for other equity awards). As a result, CAP amounts are calculated in a manner different than any information that we have presented in the Proxy Statement before, especially with respect to the valuation of outstanding equity awards; and • As required by the SEC’s PVP rules, we provide information in the PVP Table below about our cumulative absolute total shareholder return (“TSR”) results, cumulative TSR results for a peer group of companies identified in the PVP Table, and our U.S. GAAP net income results (the “External Measures”) during the Covered Years. We did not, however, actually base any compensation decisions for the PVP NEOs on, or link any Due to the use and weighting of the Operating Funds From Operations (also referred to in this Proxy Statement as “Operating FFO”) per share performance measure in our annual cash incentive compensation plan for 2022, we have determined that, pursuant to the SEC’s PVP rules, Operating Funds From Operations per share should be designated as the “Company-Selected Measure” to be included in the far right column of the PVP Table below because we believe it is the most important financial measure that demonstrates how we sought to link executive pay to performance for 2022. Pay Versus Performance Table (a) (b) (c) (d) (e) (f) (g) (h) (i) VALUE OF INITIAL FIXED $100 YEAR SUMMARY ($)(1) COMPENSATION ACTUALLY PAID ($)(1)(2) AVERAGE SCT ($)(1) AVERAGE COMPENSATION ACTUALLY PAID ($)(1)(2) TOTAL ($)(3) PEER GROUP ($)(4) NET INCOME ($)(5) OPERATING ($)(6) 2022 6,799,485 5,305,017 1,500,884 1,309,320 106.88 104.46 168,719 1.18 2021 6,910,219 24,547,349 1,625,444 2,093,387 119.39 119.43 124,935 1.17 2020 8,555,564 8,722,586 1,602,380 1,161,027 73.98 72.36 35,721 0.99 (1) David R. Lukes was our principal executive officer (“PEO”) for the full year for each of the Covered Years. For each of 2022 and 2021, our non-PEO (“Non-PEO Non-PEO (2) For each Covered Year, in determining both the CAP for our PEO and the average CAP for our Non-PEO ITEM AND VALUE ADDED (DEDUCTED) 2022 ($) 2021 ($) 2020 ($) For David R. Lukes: - Summary Compensation Table “Stock Awards” column value (3,606,484 ) (3,717,683 ) (6,013,999 ) + Covered Year-end 2,252,261 4,995,283 7,152,786 +/- Change in fair value (from prior year-end Year-end) Year-end (596,983 ) 11,402,423 (915,746 ) +/- Change in fair value (from prior year-end 280,081 4,799,377 (98,363 ) + Includable dividend equivalents paid or accrued on equity awards during Covered Year 176,657 157,730 42,344 TOTAL ADDED (DEDUCTED) (1,494,468 ) 17,637,130 167,022 For Non-PEO - Summary Compensation Table “Stock Awards” column value (510,944 ) (652,045 ) (527,154 ) + Covered Year-end 319,093 687,958 228,415 +/- Change in fair value (from prior year-end Year-end) Year-end 10,953 260,137 (111,287 ) +/- Change in fair value (from prior year-end (22,426 ) 155,325 (46,837 ) + Includable dividend equivalents paid or accrued on equity awards during Covered Year 11,760 16,568 15,510 TOTAL ADDED (DEDUCTED) (191,564 ) 467,943 (441,353 ) (3) For each Covered Year, our absolute TSR was calculated based on the yearly percentage change in our cumulative TSR on our common shares, par value $0.10 per share, measured as the quotient of (a) the sum of (i) the cumulative amount of dividends for the period beginning with our closing share price on the New York Stock Exchange (“NYSE”) on December 31, 2019 through and including the last day of the Covered Year (each one-year, two-year Year-end (4) For purposes of this PVP disclosure, our peer group is the FTSE NAREIT Equity Shopping Centers Index (the “PVP Peer Group”). For each Covered Year, the PVP Peer Group cumulative TSR was calculated based on a deemed fixed investment of $100 in the index through each Measurement Period, assuming dividend reinvestment. (5) In thousands. These net income results were calculated in accordance with U.S. GAAP. (6) For purposes of this PVP Table, our Operating Funds From Operations per share were calculated substantially as described above in our Compensation Discussion and Analysis. See “Compensation Discussion and Analysis—2022 Compensation Program—Annual Incentive Compensation Design” for more information on the calculation of Operating Funds From Operations per share. | | |
Company Selected Measure Name | OPERATINGFUNDS FROMOPERATIONSPER SHARE | | |
Named Executive Officers, Footnote [Text Block] | (1) David R. Lukes was our principal executive officer (“PEO”) for the full year for each of the Covered Years. For each of 2022 and 2021, our non-PEO (“Non-PEO Non-PEO | | |
Peer Group Issuers, Footnote [Text Block] | For purposes of this PVP disclosure, our peer group is the FTSE NAREIT Equity Shopping Centers Index (the “PVP Peer Group”). For each Covered Year, the PVP Peer Group cumulative TSR was calculated based on a deemed fixed investment of $100 in the index through each Measurement Period, assuming dividend reinvestment. | | |
PEO Total Compensation Amount | $ 6,799,485 | $ 6,910,219 | $ 8,555,564 |
PEO Actually Paid Compensation Amount | $ 5,305,017 | 24,547,349 | 8,722,586 |
Adjustment To PEO Compensation, Footnote [Text Block] | ITEM AND VALUE ADDED (DEDUCTED) 2022 ($) 2021 ($) 2020 ($) For David R. Lukes: - Summary Compensation Table “Stock Awards” column value (3,606,484 ) (3,717,683 ) (6,013,999 ) + Covered Year-end 2,252,261 4,995,283 7,152,786 +/- Change in fair value (from prior year-end Year-end) Year-end (596,983 ) 11,402,423 (915,746 ) +/- Change in fair value (from prior year-end 280,081 4,799,377 (98,363 ) + Includable dividend equivalents paid or accrued on equity awards during Covered Year 176,657 157,730 42,344 TOTAL ADDED (DEDUCTED) (1,494,468 ) 17,637,130 167,022 For Non-PEO - Summary Compensation Table “Stock Awards” column value (510,944 ) (652,045 ) (527,154 ) + Covered Year-end 319,093 687,958 228,415 +/- Change in fair value (from prior year-end Year-end) Year-end 10,953 260,137 (111,287 ) +/- Change in fair value (from prior year-end (22,426 ) 155,325 (46,837 ) + Includable dividend equivalents paid or accrued on equity awards during Covered Year 11,760 16,568 15,510 TOTAL ADDED (DEDUCTED) (191,564 ) 467,943 (441,353 ) | | |
Non-PEO NEO Average Total Compensation Amount | $ 1,500,884 | 1,625,444 | 1,602,380 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 1,309,320 | 2,093,387 | 1,161,027 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | ITEM AND VALUE ADDED (DEDUCTED) 2022 ($) 2021 ($) 2020 ($) For David R. Lukes: - Summary Compensation Table “Stock Awards” column value (3,606,484 ) (3,717,683 ) (6,013,999 ) + Covered Year-end 2,252,261 4,995,283 7,152,786 +/- Change in fair value (from prior year-end Year-end) Year-end (596,983 ) 11,402,423 (915,746 ) +/- Change in fair value (from prior year-end 280,081 4,799,377 (98,363 ) + Includable dividend equivalents paid or accrued on equity awards during Covered Year 176,657 157,730 42,344 TOTAL ADDED (DEDUCTED) (1,494,468 ) 17,637,130 167,022 For Non-PEO - Summary Compensation Table “Stock Awards” column value (510,944 ) (652,045 ) (527,154 ) + Covered Year-end 319,093 687,958 228,415 +/- Change in fair value (from prior year-end Year-end) Year-end 10,953 260,137 (111,287 ) +/- Change in fair value (from prior year-end (22,426 ) 155,325 (46,837 ) + Includable dividend equivalents paid or accrued on equity awards during Covered Year 11,760 16,568 15,510 TOTAL ADDED (DEDUCTED) (191,564 ) 467,943 (441,353 ) | | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | | | |
Compensation Actually Paid vs. Net Income [Text Block] | | | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | | | |
Tabular List [Table Text Block] | 2022 Tabular List The following Tabular List provides what we believe are the most important financial performance measures (including Operating Funds From Operations) we used to link compensation for our PEO and Non-PEO TABULAR LIST PERFORMANCE MEASURE PERFORMANCE MEASURE TYPE Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization Financial Operating Funds From Operations per share Financial Relative Total Shareholder Return Financial | | |
Total Shareholder Return Amount | $ 106.88 | 119.39 | 73.98 |
Peer Group Total Shareholder Return Amount | 104.46 | 119.43 | 72.36 |
Net Income (Loss) | $ 168,719,000 | $ 124,935,000 | $ 35,721,000 |
Company Selected Measure Amount | 1.18 | 1.17 | 0.99 |
PEO Name | David R. Lukes | David R. Lukes | David R. Lukes |
Measure [Axis]: 1 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization | | |
Measure [Axis]: 2 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Operating Funds From Operations per share | | |
Non-GAAP Measure Description [Text Block] | (6) For purposes of this PVP Table, our Operating Funds From Operations per share were calculated substantially as described above in our Compensation Discussion and Analysis. See “Compensation Discussion and Analysis—2022 Compensation Program—Annual Incentive Compensation Design” for more information on the calculation of Operating Funds From Operations per share. | | |
Measure [Axis]: 3 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Relative Total Shareholder Return | | |
PEO [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ (1,494,468) | $ 17,637,130 | $ 167,022 |
PEO [Member] | Stock Awards [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (3,606,484) | (3,717,683) | (6,013,999) |
PEO [Member] | Fair Value of Outstanding Equity Awards Granted in Covered Year [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 2,252,261 | 4,995,283 | 7,152,786 |
PEO [Member] | Fair Value (from prior yearend to Covered Yearend) of Equity Awards Outstanding [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (596,983) | 11,402,423 | (915,746) |
PEO [Member] | Fair Value (from prior yearend to vest date in Covered Year) of Equity Awards Granted Prior to Covered Year [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 280,081 | 4,799,377 | (98,363) |
PEO [Member] | Includable dividend equivalents paid or accrued on equity awards during Covered Year [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 176,657 | 157,730 | 42,344 |
Non-PEO NEO [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (191,564) | 467,943 | (441,353) |
Non-PEO NEO [Member] | Stock Awards [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (510,944) | (652,045) | (527,154) |
Non-PEO NEO [Member] | Fair Value of Outstanding Equity Awards Granted in Covered Year [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 319,093 | 687,958 | 228,415 |
Non-PEO NEO [Member] | Fair Value (from prior yearend to Covered Yearend) of Equity Awards Outstanding [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 10,953 | 260,137 | (111,287) |
Non-PEO NEO [Member] | Fair Value (from prior yearend to vest date in Covered Year) of Equity Awards Granted Prior to Covered Year [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (22,426) | 155,325 | (46,837) |
Non-PEO NEO [Member] | Includable dividend equivalents paid or accrued on equity awards during Covered Year [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ 11,760 | $ 16,568 | $ 15,510 |