The Macerich Company (MAC) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Nov. 05, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-12504
Entity Registrant Name	MACERICH CO
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	95-4448705
Entity Address, Address Line One	401 Wilshire Boulevard,
Entity Address, Address Line Two	Suite 700,
Entity Address, City or Town	Santa Monica,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90401
City Area Code	(310)
Local Phone Number	394-6000
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	MAC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		141,265,383
Entity Central Index Key	0000912242
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS:
Property, net	$ 6,664,106	$ 6,785,776
Cash and cash equivalents	98,309	102,711
Restricted cash	8,959	46,590
Tenant and other receivables, net	129,729	123,492
Right-of-use assets, net	150,656
Deferred charges and other assets, net	277,799	390,403
Due from affiliates	9,627	85,181
Investments in unconsolidated joint ventures	1,436,788	1,492,655
Total assets	8,775,973	9,026,808
LIABILITIES AND EQUITY:
Mortgage notes payable	4,294,633	4,073,916
Bank and other notes payable	749,769	908,544
Accounts payable and accrued expenses	61,348	59,392
Lease liabilities	116,683
Other accrued liabilities	253,882	303,051
Distributions in excess of investments in unconsolidated joint ventures	112,326	114,988
Financing arrangement obligation	279,563	378,485
Total liabilities	5,868,204	5,838,376
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 250,000,000 shares authorized, 141,370,725 and 141,221,712 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	1,413	1,412
Additional paid-in capital	4,581,551	4,567,643
Accumulated deficit	(1,864,807)	(1,614,357)
Accumulated other comprehensive loss	(10,946)	(4,466)
Total stockholders' equity	2,707,211	2,950,232
Noncontrolling interests	200,558	238,200
Total equity	2,907,769	3,188,432
Total liabilities and equity	$ 8,775,973	$ 9,026,808

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	141,370,725	141,221,712
Common Stock, shares outstanding	141,370,725	141,221,712

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Leasing revenue	$ 214,260		$ 636,290
Leasing revenue		$ 224,251		$ 659,377
Total revenues	231,127	242,198	685,621	713,477
Expenses:
Leasing expenses	7,162		22,344
Leasing expenses		2,565		8,591
REIT general and administrative expenses	5,285	5,439	16,835	18,414
Costs related to shareholder activism	0	0	0	19,369
Depreciation and amortization	82,787	81,803	246,640	240,608
Total expenses before interest	180,076	180,869	539,063	573,889
Interest (income) expense:
Related parties	(36,059)	1,074	(59,749)	8,481
Other	50,858	43,853	150,014	127,996
Total interest expense	14,799	44,927	90,265	136,477
Loss on extinguishment of debt, net	0	0	351	0
Total expenses	194,875	225,796	629,679	710,366
Equity in income of unconsolidated joint ventures	14,582	18,789	34,082	51,330
Income tax (expense) benefit	(678)	(466)	(1,703)	1,799
(Loss) gain on sale or write down of assets, net	(131)	46,516	(15,506)	(514)
Net income	50,025	81,241	72,815	55,726
Less net income attributable to noncontrolling interests	3,654	7,213	2,886	7,455
Net income attributable to the Company	$ 46,371	$ 74,028	$ 69,929	$ 48,271
Earnings per common share—attributable to common stockholders:
Basic (in dollars per share)	$ 0.33	$ 0.52	$ 0.49	$ 0.34
Diluted (in dollars per share)	$ 0.33	$ 0.52	$ 0.49	$ 0.34
Weighted average number of common shares outstanding:
Basic (in shares)	141,368	141,196	141,325	141,120
Diluted (in shares)	141,368	141,196	141,325	141,125
Other
Revenues:
Revenues	$ 6,889	$ 6,895	$ 20,054	$ 22,010
Management Companies
Revenues:
Revenues	9,978	11,052	29,277	32,090
Expenses:
Operating expenses	15,514	18,961	50,220	72,224
Shopping center and operating expenses
Expenses:
Operating expenses	$ 69,328	$ 72,101	$ 203,024	$ 214,683

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 50,025	$ 81,241	$ 72,815	$ 55,726
Other comprehensive income:
Interest rate cap/swap agreements	(154)		(6,480)
Interest rate cap/swap agreements		175		184
Comprehensive income	49,871	81,416	66,335	55,910
Less net income attributable to noncontrolling interests	3,654	7,213	2,886	7,455
Comprehensive income attributable to the Company	$ 46,217	$ 74,203	$ 63,449	$ 48,455

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2017			140,993,985
Beginning balance at Dec. 31, 2017	$ 3,967,999	$ 3,681,578	$ 1,410	$ 4,510,489	$ (830,279)	$ (42)	$ 286,421
Increase (Decrease) in Stockholders' Equity
Net income	55,726	48,271			48,271		7,455
Interest rate cap/swap agreements	184	184				184
Amortization of share and unit-based plans (in shares)			121,924
Amortization of share and unit-based plans	28,219	28,219	$ 1	28,218
Employee stock purchases (in shares)			17,240
Employee stock purchases	806	806		806
Distributions declared	(313,342)	(313,342)			(313,342)
Distributions to noncontrolling interests	(26,101)						(26,101)
Contributions from noncontrolling interests	16						16
Conversion of noncontrolling interests to common shares (in shares)			66,711
Conversion of noncontrolling interests to common shares	0	75	$ 1	74			(75)
Redemption of noncontrolling interests	(719)	(486)		(486)			(233)
Adjustment of noncontrolling interests in Operating Partnership	0	24,002		24,002			(24,002)
Ending balance (in shares) at Sep. 30, 2018			141,199,860
Ending balance at Sep. 30, 2018	3,287,929	3,044,448	$ 1,412	4,563,103	(1,520,209)	142	243,481
Beginning balance (in shares) at Jun. 30, 2018			141,184,335
Beginning balance at Jun. 30, 2018	3,315,175	3,070,510	$ 1,412	4,558,873	(1,489,742)	(33)	244,665
Increase (Decrease) in Stockholders' Equity
Net income	81,241	74,028			74,028		7,213
Interest rate cap/swap agreements	175	175				175
Amortization of share and unit-based plans (in shares)			3,517
Amortization of share and unit-based plans	4,616	4,616		4,616
Distributions declared	(104,495)	(104,495)			(104,495)
Distributions to noncontrolling interests	(8,203)						(8,203)
Contributions from noncontrolling interests	16						16
Conversion of noncontrolling interests to common shares (in shares)			12,008
Conversion of noncontrolling interests to common shares	0	0	$ 0	0			0
Redemption of noncontrolling interests	(596)	(402)		(402)			(194)
Adjustment of noncontrolling interests in Operating Partnership	0	16		16			(16)
Ending balance (in shares) at Sep. 30, 2018			141,199,860
Ending balance at Sep. 30, 2018	$ 3,287,929	3,044,448	$ 1,412	4,563,103	(1,520,209)	142	243,481
Beginning balance (in shares) at Dec. 31, 2018	141,221,712		141,221,712
Beginning balance at Dec. 31, 2018	$ 3,188,432	2,950,232	$ 1,412	4,567,643	(1,614,357)	(4,466)	238,200
Increase (Decrease) in Stockholders' Equity
Net income	72,815	69,929			69,929		2,886
Interest rate cap/swap agreements	(6,480)	(6,480)				(6,480)
Amortization of share and unit-based plans (in shares)			101,213
Amortization of share and unit-based plans	13,353	13,353	$ 1	13,352
Employee stock purchases (in shares)			26,800
Employee stock purchases	819	819		819
Distributions declared	(318,176)	(318,176)			(318,176)
Distributions to noncontrolling interests	(41,200)						(41,200)
Contributions from noncontrolling interests	460						460
Conversion of noncontrolling interests to common shares (in shares)			21,000
Conversion of noncontrolling interests to common shares	0	1,005		1,005			(1,005)
Redemption of noncontrolling interests	(51)	(26)		(26)			(25)
Adjustment of noncontrolling interests in Operating Partnership	$ 0	(1,242)		(1,242)			1,242
Ending balance (in shares) at Sep. 30, 2019	141,370,725		141,370,725
Ending balance at Sep. 30, 2019	$ 2,907,769	2,707,211	$ 1,413	4,581,551	(1,864,807)	(10,946)	200,558
Beginning balance (in shares) at Jun. 30, 2019			141,364,568
Beginning balance at Jun. 30, 2019	2,969,370	2,764,144	$ 1,413	4,578,620	(1,805,097)	(10,792)	205,226
Increase (Decrease) in Stockholders' Equity
Net income	50,025	46,371			46,371		3,654
Interest rate cap/swap agreements	(154)	(154)				(154)
Amortization of share and unit-based plans (in shares)			6,157
Amortization of share and unit-based plans	3,315	3,315		3,315
Distributions declared	(106,081)	(106,081)			(106,081)
Distributions to noncontrolling interests	(8,742)						(8,742)
Contributions from noncontrolling interests	50						50
Redemption of noncontrolling interests	(14)	(6)		(6)			(8)
Adjustment of noncontrolling interests in Operating Partnership	$ 0	(378)		(378)			378
Ending balance (in shares) at Sep. 30, 2019	141,370,725		141,370,725
Ending balance at Sep. 30, 2019	$ 2,907,769	$ 2,707,211	$ 1,413	$ 4,581,551	$ (1,864,807)	$ (10,946)	$ 200,558

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Distributions declared, per share (in dollars per share)	$ 0.75	$ 2.25	$ 0.74	$ 2.22

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 72,815	$ 55,726
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on extinguishment of debt, net	351	0
Loss on sale or write down of assets, net	15,506	514
Depreciation and amortization	251,946	246,038
Amortization of premium on mortgage notes payable	(696)	(696)
Amortization of share and unit-based plans	9,755	22,644
Straight-line rent and amortization of above and below market leases	(12,447)	(11,424)
Provision for doubtful accounts	6,767	3,787
Income tax expense (benefit)	1,703	(1,799)
Equity in income of unconsolidated joint ventures	(34,082)	(51,330)
Distributions of income from unconsolidated joint ventures	844	1,664
Change in fair value of financing arrangement obligation	(70,977)	(9,279)
Changes in assets and liabilities, net of dispositions:
Tenant and other receivables	4,683	2,579
Other assets	3,942	7,143
Due from affiliates	10,424	(5,508)
Accounts payable and accrued expenses	13,105	6,692
Other accrued liabilities	(1,662)	(19,590)
Net cash provided by operating activities	271,977	247,161
Cash flows from investing activities:
Development, redevelopment, expansion and renovation of properties	(104,905)	(133,325)
Property improvements	(21,114)	(32,858)
Proceeds from repayment of notes receivable	65,791	829
Deferred leasing costs	(10,885)	(23,792)
Distributions from unconsolidated joint ventures	235,811	541,336
Contributions to unconsolidated joint ventures	(149,368)	(179,060)
Proceeds from sale of assets	1,245	83,029
Net cash provided by investing activities	16,575	256,159
Cash flows from financing activities:
Proceeds from mortgages, bank and other notes payable	1,076,000	295,000
Payments on mortgages, bank and other notes payable	(1,016,099)	(457,710)
Payment on finance arrangement obligation	(27,945)	0
Deferred financing costs	(2,921)	(275)
Payments on finance leases	(1,472)
Proceeds from share and unit-based plans	819	806
Redemption of noncontrolling interests	(51)	(719)
Contribution from noncontrolling interests	460	16
Dividends and distributions	(359,376)	(339,443)
Net cash used in financing activities	(330,585)	(502,325)
Net (decrease) increase in cash, cash equivalents and restricted cash	(42,033)	995
Cash, cash equivalents and restricted cash, beginning of period	149,301	143,105
Cash, cash equivalents and restricted cash, end of period	107,268	144,100
Supplemental cash flow information:
Cash payments for interest, net of amounts capitalized	156,700	142,680
Non-cash investing and financing transactions:
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities	43,348	48,827
Mortgage notes payable assumed in exchange for investments in unconsolidated joint ventures	0	139,249
Disposition of property in exchange for investments in unconsolidated joint ventures	0	36,305
Conversion of Operating Partnership Units to common stock	$ 1,005	$ 75

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization: The Macerich Company (the "Company") is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers (the "Centers") located throughout the United States. The Company commenced operations effective with the completion of its initial public offering on March 16, 1994. As of September 30, 2019, the Company was the sole general partner of and held a 93% ownership interest in The Macerich Partnership, L.P. (the "Operating Partnership"). The Company was organized to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, Macerich Property Management Company, LLC, a single member Delaware limited liability company, Macerich Management Company, a California corporation, Macerich Arizona Partners LLC, a single member Arizona limited liability company, Macerich Arizona Management LLC, a single member Delaware limited liability company, Macerich Partners of Colorado LLC, a single member Colorado limited liability company, MACW Mall Management, Inc., a New York corporation, and MACW Property Management, LLC, a single member New York limited liability company. All seven of the management companies are collectively referred to herein as the "Management Companies." All references to the Company in this Quarterly Report on Form 10-Q include the Company, those entities owned or controlled by the Company and predecessors of the Company, unless the context indicates otherwise.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies: Basis of Presentation: The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by an independent registered public accounting firm. The Company's sole significant asset is its investment in the Operating Partnership and as a result, substantially all of the Company's assets and liabilities represent the assets and liabilities of the Operating Partnership. In addition, the Operating Partnership has investments in a number of consolidated variable interest entities ("VIEs"). The Operating Partnership's consolidated VIEs included the following assets and liabilities: September 30, December 31, Assets: Property, net $ 254,866 $ 263,511 Other assets 23,274 23,001 Total assets $ 278,140 $ 286,512 Liabilities: Mortgage notes payable $ 222,085 $ 125,273 Other liabilities 36,779 32,503 Total liabilities $ 258,864 $ 157,776 All intercompany accounts and transactions have been eliminated in the consolidated financial statements. The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2018. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of December 31, 2018 has been derived from the audited financial statements but does not include all disclosures required by GAAP. The following table presents a reconciliation of the beginning of period and end of period cash, cash equivalents and restricted cash reported on the Company's consolidated balance sheets to the totals shown on its consolidated statements of cash flows: For the Nine Months Ended September 30, 2019 2018 Beginning of period Cash and cash equivalents $ 102,711 $ 91,038 Restricted cash 46,590 52,067 Cash, cash equivalents and restricted cash $ 149,301 $ 143,105 End of period Cash and cash equivalents $ 98,309 $ 93,479 Restricted cash 8,959 50,621 Cash, cash equivalents and restricted cash $ 107,268 $ 144,100 Shareholder Activism Costs: During the nine months ended September 30, 2018, the Company incurred $19,369 in costs associated with activities related to shareholder activism. These costs were primarily for legal and advisory services. Adoption of New Lease Standard: On January 1, 2019, the Company adopted Accounting Standards Codification ("ASC") 842 "Leases", under the modified retrospective method. The new standard amended the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). In connection with the adoption of the new lease standard, the Company elected to use the transition packages of practical expedients for implementation provided by the Financial Accounting Standards Board ("FASB"), which included (i) relief from re-assessing whether an expired or existing contract meets the definition of a lease, (ii) relief from re-assessing the classification of expired or existing leases at the adoption date, (iii) allowing previously capitalized initial direct leasing costs to continue to be amortized, and (iv) application of the standard as of the adoption date rather than to all periods presented. The standard requires that lessors expense, on an as-incurred basis, certain initial direct costs that are not incremental in negotiating a lease. Initial direct costs include the salaries and related costs for employees directly working on leasing activities. Prior to January 1, 2019, these costs were capitalizable and therefore the new lease standard resulted in certain of these costs being expensed as incurred. For comparison purposes, the Company has reclassified leasing expenses that were included in management companies' operating expenses to leasing expenses for the three and nine months ended September 30, 2018, to conform to the presentation for the three and nine months ended September 30, 2019. Upon the adoption of the new standard, the Company elected the practical expedient to not separate non-lease components, most significantly certain common area maintenance recoveries, from the associated lease components, resulting in the Company presenting all revenues associated with leases as leasing revenue on its consolidated statement of operations. For comparison purposes, the Company has reclassified minimum rents, percentage rents, tenant recoveries and other leasing income to leasing revenue for the three and nine months ended September 30, 2018, to conform to the presentation for the three and nine months ended September 30, 2019. The new standard also requires the Company to reduce leasing revenue for credit losses associated with lease receivables. In addition, straight-line rent receivables are written off when the Company believes there is uncertainty regarding a tenant's ability to complete the term of the lease. As a result, the Company recognized a cumulative effect adjustment of $2,203 upon adoption for the write off of straight-line rent receivables of tenants that were in litigation or bankruptcy. The standard also requires that the provision for bad debts relating to leases be presented as a reduction of leasing revenue. For the three and nine months ended September 30, 2018, the provision for bad debts is included in shopping center and operating expenses. The standard requires lessees to classify its leases as either finance or operating leases. The lessee records a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than twelve months, regardless of their lease classification. Upon adoption, the Company recognized initial ROU assets and corresponding lease liabilities of $109,299, representing the discounted value of future lease payments required for leases classified as operating leases. In addition, the Company reclassified $59,736 from deferred charges and other assets, net, $5,978 from accounts payable and accrued expenses and $4,342 from other accrued liabilities, relating to existing intangible assets and straight-line rent liabilities. The Company's lease liabilities were increased at adoption by $15,268 for lease liabilities associated with finance leases that were previously included in other accrued liabilities. See Note 8—Leases, for further disclosure on the Company's adoption of the new standard. Other Recent Accounting Pronouncements: In August 2017, the FASB issued ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities,” which aims to (i) improve the transparency and understandability of information conveyed to financial statement users about an entity’s risk management activities by better aligning the entity’s financial reporting for hedging relationships with those risk management activities and (ii) reduce the complexity of and simplify the application of hedge accounting by preparers. The Company's adoption of the standard on January 1, 2019 did not have an impact on its consolidated financial statements.

Earnings per Share ("EPS")

Earnings per Share ("EPS")	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share (EPS)	Earnings Per Share ("EPS"): The following table reconciles the numerator and denominator used in the computation of EPS for the three and nine months ended September 30, 2019 and 2018 (shares in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net income $ 50,025 $ 81,241 $ 72,815 $ 55,726 Less net income attributable to noncontrolling interests 3,654 7,213 2,886 7,455 Net income attributable to the Company 46,371 74,028 69,929 48,271 Allocation of earnings to participating securities (297) (278) (869) (824) Numerator for basic and diluted EPS—net income attributable to common stockholders $ 46,074 $ 73,750 $ 69,060 $ 47,447 Denominator Denominator for basic EPS—weighted average number of common shares outstanding 141,368 141,196 141,325 141,120 Effect of dilutive securities(1): Share and unit-based compensation plans — — — 5 Denominator for diluted EPS—weighted average number of common shares outstanding 141,368 141,196 141,325 141,125 EPS—net income attributable to common stockholders: Basic $ 0.33 $ 0.52 $ 0.49 $ 0.34 Diluted $ 0.33 $ 0.52 $ 0.49 $ 0.34 (1) Diluted EPS excludes 90,619 convertible preferred partnership units for the three and nine months ended September 30, 2019 and 2018, as their impact was antidilutive. Diluted EPS also excludes 10,415,238 and 10,377,936 Operating Partnership units ("OP Units") for the three months ended September 30, 2019 and 2018, respectively, and 10,415,234 and 10,355,946 OP Units for the nine months ended September 30, 2019 and 2018, respectively, as their impact was antidilutive.

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Investments in Unconsolidated Joint Ventures	Collaborative Arrangement: On March 1, 2018, the Company formed a 25/75 joint venture with a third party, whereby the Company agreed to contribute One Westside, a 680,000 square foot regional shopping center in Los Angeles, California, in exchange for $142,500. The Company completed the transfer on August 31, 2018. During the period from March 1, 2018 to August 31, 2018, the Company accounted for the operations of One Westside as a collaborative arrangement. Both partners shared operating control of the property and the Company was reimbursed by the outside partner for 75% of the carrying cost of the property, which were defined in the agreement as operating expenses in excess of revenues, debt service and capital expenditures. Accordingly, the Company reduced leasing revenue, other revenue, shopping center and operating expenses and interest expense by its partner's 75% share and recorded a receivable due from its partner, which was settled upon completion of the transfer of the property. In addition, the Company was reimbursed by its partner for its 75% share of mortgage loan principal payments and capital expenditures during the period. Since completion of the transfer, the Company has accounted for its investment in One Westside under the equity method of accounting (See Note 4—Investments in Unconsolidated Joint Ventures).
Joint Venture
Schedule of Equity Method Investments [Line Items]
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures: The Company has made the following recent investments and dispositions in its unconsolidated joint ventures: On February 16, 2018, the Company's joint venture in Fashion District Philadelphia sold its ownership interest in an office building for $41,800, resulting in a gain on sale of assets of $5,545. The Company's pro rata share of the gain on the sale of assets of $2,773 was included in equity in income from unconsolidated joint ventures. The Company used its share of the proceeds to pay down its line of credit and for general corporate purposes. On March 1, 2018, the Company formed a 25/75 joint venture with Hudson Pacific Properties, whereby the Company agreed to contribute Westside Pavilion (referred to hereafter as "One Westside"), a 680,000 square foot regional shopping center in Los Angeles, California in exchange for $142,500. From March 1, 2018 to August 31, 2018, the Company accounted for its interest in the property as a collaborative arrangement (See Note 15—Collaborative Arrangement). On August 31, 2018, the Company completed the sale of the 75% ownership interest in the property to Hudson Pacific Properties, resulting in a gain on sale of assets of $46,242. The sales price was funded by a cash payment of $36,903 and the assumption of a pro rata share of the mortgage note payable on the property of $105,597. Concurrent with the sale of the ownership interest, the joint venture defeased the loan on the property by providing a $149,175 portfolio of marketable securities as replacement collateral in lieu of the property. The Company funded its $37,294 share of the purchase price of the marketable securities portfolio with the proceeds from the sale of the ownership interest in the property. Upon completion of the sale of the ownership interest in the property, the Company has accounted for its remaining ownership interest in the property under the equity method of accounting. On July 6, 2018, the Company’s joint venture in The Market at Estrella Falls, a 298,000 square foot community center in Goodyear, Arizona, sold the property for $49,100, resulting in a gain on sale of assets of $12,598. The Company's share of the gain of $2,996 was included in equity in income from unconsolidated joint ventures. The proceeds were used to pay off the $24,118 mortgage loan payable on the property, settle development obligations and for distributions to the partners. The Company used its share of the net proceeds for general corporate purposes. On September 6, 2018, the Company formed a 50/50 joint venture with Simon Property Group to develop Los Angeles Premium Outlets, a premium outlet center in Carson, California that is planned to open with approximately 400,000 square feet, followed by an additional 165,000 square feet in the second phase. The joint venture expects to complete the first phase of the development in fall 2021. On July 25, 2019, the Company's joint venture in Fashion District Philadelphia amended the existing loan on the joint venture to allow for additional borrowings up to $100,000 at LIBOR plus 2%. Concurrent with the amendment, the joint venture borrowed an additional $26,000. On August 16, 2019, the joint venture borrowed an additional $25,000. The Company used its share of the additional proceeds to pay down its line of credit and for general corporate purposes. On September 12, 2019, the Company’s joint venture in Tysons Tower placed a new $190,000 loan on the property that bears interest at an effective rate of 3.38% and matures on October 11, 2029. The Company used its share of the proceeds to pay down its line of credit and for general corporate purposes. Combined and condensed balance sheets and statements of operations are presented below for all unconsolidated joint ventures. Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures: September 30, December 31, Assets(1): Property, net $ 9,359,938 $ 9,241,003 Other assets 807,237 703,861 Total assets $ 10,167,175 $ 9,944,864 Liabilities and partners' capital(1): Mortgage and other notes payable $ 6,261,409 $ 6,050,930 Other liabilities 538,155 388,509 Company's capital 1,828,638 1,913,475 Outside partners' capital 1,538,973 1,591,950 Total liabilities and partners' capital $ 10,167,175 $ 9,944,864 Investments in unconsolidated joint ventures: Company's capital $ 1,828,638 $ 1,913,475 Basis adjustment(2) (504,176) (535,808) $ 1,324,462 $ 1,377,667 Assets—Investments in unconsolidated joint ventures $ 1,436,788 $ 1,492,655 Liabilities—Distributions in excess of investments in unconsolidated joint ventures (112,326) (114,988) $ 1,324,462 $ 1,377,667 (1) These amounts include assets of $2,981,866 and $3,047,851 of Pacific Premier Retail LLC (the "PPR Portfolio") as of September 30, 2019 and December 31, 2018, respectively, and liabilities of $1,836,948 and $1,859,637 of the PPR Portfolio as of September 30, 2019 and December 31, 2018, respectively. (2) The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was $5,354 and $1,160 for the three months ended September 30, 2019 and 2018, respectively, and $15,164 and $8,787 for the nine months ended September 30, 2019 and 2018, respectively. Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures: PPR Portfolio Other Total Three Months Ended September 30, 2019 Revenues: Leasing revenue $ 46,308 $ 169,132 $ 215,440 Other 668 15,648 16,316 Total revenues 46,976 184,780 231,756 Expenses: Shopping center and operating expenses 9,289 58,658 67,947 Leasing expenses 407 1,750 2,157 Interest expense 16,926 36,021 52,947 Depreciation and amortization 25,260 63,683 88,943 Total operating expenses 51,882 160,112 211,994 Gain on sale or write down of assets, net 5 — 5 Net (loss) income $ (4,901) $ 24,668 $ 19,767 Company's equity in net (loss) income $ (409) $ 14,991 $ 14,582 Three Months Ended September 30, 2018 Revenues: Leasing revenue $ 46,859 $ 176,990 $ 223,849 Other 27 11,767 11,794 Total revenues 46,886 188,757 235,643 Expenses: Shopping center and operating expenses 9,893 61,528 71,421 Interest expense(1) 16,680 37,968 54,648 Depreciation and amortization 24,582 61,323 85,905 Total operating expenses 51,155 160,819 211,974 (Loss) gain on sale or write down of assets, net (47) 12,622 12,575 Net (loss) income $ (4,316) $ 40,560 $ 36,244 Company's equity in net (loss) income $ (148) $ 18,937 $ 18,789 PPR Portfolio Other Total Nine Months Ended September 30, 2019 Revenues: Leasing revenue $ 137,674 $ 514,929 $ 652,603 Other 1,285 40,809 42,094 Total revenues 138,959 555,738 694,697 Expenses: Shopping center and operating expenses 27,431 177,373 204,804 Leasing expenses 1,247 5,112 6,359 Interest expense 50,920 110,614 161,534 Depreciation and amortization 75,506 205,016 280,522 Total operating expenses 155,104 498,115 653,219 Loss on sale or write down of assets, net (400) (280) (680) Net (loss) income $ (16,545) $ 57,343 $ 40,798 Company's equity in net (loss) income $ (2,139) $ 36,221 $ 34,082 Nine Months Ended September 30, 2018 Revenues: Leasing revenue $ 137,641 $ 533,041 $ 670,682 Other 627 31,917 32,544 Total revenues 138,268 564,958 703,226 Expenses: Shopping center and operating expenses 29,091 183,174 212,265 Interest expense(1) 50,176 108,356 158,532 Depreciation and amortization 73,137 184,708 257,845 Total operating expenses 152,404 476,238 628,642 (Loss) gain on sale or write down of assets, net (47) 14,151 14,104 Net (loss) income $ (14,183) $ 102,871 $ 88,688 Company's equity in net (loss) income $ (1,021) $ 52,351 $ 51,330 (1) Interest expense includes $7,148 and $19,264 for the three and nine months ended September 30, 2018, respectively, related to mortgage notes payable to an affiliate of Northwestern Mutual Life ("NML") (See Note 18—Related Party Transactions). Significant accounting policies used by the unconsolidated joint ventures are similar to those used by the Company.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities: The Company uses interest rate cap and interest rate swap agreements to manage the interest rate risk of its floating rate debt. The Company recorded other comprehensive (loss) income related to the marking-to-market of derivative instruments of $(154) and $175 for the three months ended September 30, 2019 and 2018, respectively, and $(6,480) and $184 for the nine months ended September 30, 2019 and 2018, respectively. The following derivatives were outstanding at September 30, 2019: Fair Value Property Notional Amount Product LIBOR Rate Maturity September 30, December 31, Santa Monica Place $ 300,000 Cap 4.00 % 12/9/2020 $ — $ (53) The Macerich Partnership, L.P. $ 400,000 Swaps 2.85 % 9/30/2021 $ (10,946) $ (4,413) The above derivative instruments were designated as hedging instruments with an aggregate fair value (Level 2 measurement) and were included in other accrued liabilities. The fair value of the Company's interest rate derivatives was determined using discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swap. As a result, the Company determined that its interest rate cap and swap valuations in their entirety are classified in Level 2 of the fair value hierarchy.

Property, net

Property, net	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Property, net	Property, net: Property, net consists of the following: September 30, December 31, Land $ 1,508,445 $ 1,506,678 Buildings and improvements 6,315,465 6,288,308 Tenant improvements 708,230 678,110 Equipment and furnishings(1) 214,065 206,398 Construction in progress 204,172 199,326 8,950,377 8,878,820 Less accumulated depreciation(1) (2,286,271) (2,093,044) $ 6,664,106 $ 6,785,776 (1) Equipment and furnishings and accumulated depreciation include the cost and accumulated amortization of ROU assets in connection with finance leases at September 30, 2019 (See Note 8—Leases). Depreciation expense was $72,519 and $69,237 for the three months ended September 30, 2019 and 2018, respectively, and $214,689 and $204,031 for the nine months ended September 30, 2019 and 2018, respectively. The (loss) gain on sale or write down of assets, net for the three and nine months ended September 30, 2019 and 2018 consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Property sales(1) $ — $ 46,242 $ — $ 45,931 Write-down of assets(2) (212) (1,786) (16,121) (50,578) Land sales 81 2,060 615 4,133 $ (131) $ 46,516 $ (15,506) $ (514) (1) Gain on sale of properties during the three and nine months ended September 30, 2018 includes a gain of $46,242 on the sale of a 75% ownership interest in One Westside (See Note 4—Investments in Unconsolidated Joint Ventures). Gain on sale of properties during the nine months ended September 30, 2018 also includes the loss of $311 on the sale of Promenade at Casa Grande (See Note 16—Dispositions). (2) Includes impairment losses of $36,338 on SouthPark Mall, $7,494 on two freestanding stores, $1,695 on Southridge Center and $1,043 on Promenade at Casa Grande during the nine months ended September 30, 2018. The impairment losses were due to the reduction of the estimated holding periods of the properties. The remaining balances represent the write off of development costs. The following table summarizes certain of the Company's assets that were measured on a nonrecurring basis as a result of the impairment losses recorded for the nine months ended September 30, 2018, as described above: Total Fair Value Measurement Quoted Prices in Active Markets for Identical Assets Significant Other Unobservable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) September 30, 2018 $ 72,700 $ — $ 72,700 $ — The fair values relating to the impairments were based on sales contracts.

Tenant and Other Receivables, n

Tenant and Other Receivables, net	9 Months Ended
	Sep. 30, 2019
Loans and Leases Receivable Disclosure [Abstract]
Tenant and Other Receivables, net	Tenant and Other Receivables, net:Included in tenant and other receivables, net is an allowance for doubtful accounts of $4,634 and $2,919 at September 30, 2019 and December 31, 2018, respectively. Also included in tenant and other receivables, net are accrued percentage rents of $1,948 and $8,949 at September 30, 2019 and December 31, 2018, respectively, and a deferred rent receivable due to straight-line rent adjustments of $78,783 and $72,456 at September 30, 2019 and December 31, 2018, respectively.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases: Lessor Leases: The Company leases its Centers under agreements that are classified as operating leases. These leases generally include minimum rents, percentage rents and recoveries of real estate taxes, insurance and other shopping center operating expenses. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. Percentage rents are recognized and accrued when tenants' specified sales targets have been met. Estimated recoveries from certain tenants for their pro rata share of real estate taxes, insurance and other shopping center operating expenses are recognized as revenues in the period the applicable expenses are incurred. Other tenants pay a fixed rate and these tenant recoveries are recognized as revenues on a straight-line basis over the term of the related leases. The following table summarizes the components of leasing revenue for the three and nine months ended September 30, 2019 and 2018: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Leasing revenue - fixed payments $ 159,356 $ 164,351 $ 482,194 $ 494,096 Leasing revenue - variable payments 54,904 59,900 154,096 165,281 $ 214,260 $ 224,251 $ 636,290 $ 659,377 The following table summarizes the future minimum rental payments to the Company: Twelve months ending September 30, 2020 $ 490,897 2021 414,722 2022 363,264 2023 313,166 2024 255,316 Thereafter 753,888 $ 2,591,253 Lessee Leases: The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. In addition, the Company has four finance leases that expire at various times through 2022. The following table summarizes the lease costs for the three and nine months ended September 30, 2019: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease costs $ 3,466 $ 12,675 Finance lease costs: Amortization of ROU assets 475 1,407 Interest on lease liabilities 145 453 $ 4,086 $ 14,535 The following table summarizes the future minimum rental payments required under the leases: September 30, 2019 December 31, 2018 Year ending Operating Finance Leases Operating Leases Finance Leases 2019 $ 4,521 $ 505 $ 16,627 $ 2,106 2020 17,149 2,106 17,183 2,106 2021 17,004 10,440 17,124 10,440 2022 16,867 2,418 17,450 2,418 2023 11,055 — 11,390 — Thereafter 140,415 — 140,562 — Total undiscounted rental payments 207,011 15,469 $ 220,336 $ 17,070 Less imputed interest (104,124) (1,673) Total lease liabilities $ 102,887 $ 13,796 The Company's weighted average remaining lease term of its operating and finance leases at September 30, 2019 was 31.0 years and 1.9 years, respectively. The Company's weighted average incremental borrowing rate of its operating and finance leases at September 30, 2019 was 7.7% and 4.2%, respectively.
Leases	Leases: Lessor Leases: The Company leases its Centers under agreements that are classified as operating leases. These leases generally include minimum rents, percentage rents and recoveries of real estate taxes, insurance and other shopping center operating expenses. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. Percentage rents are recognized and accrued when tenants' specified sales targets have been met. Estimated recoveries from certain tenants for their pro rata share of real estate taxes, insurance and other shopping center operating expenses are recognized as revenues in the period the applicable expenses are incurred. Other tenants pay a fixed rate and these tenant recoveries are recognized as revenues on a straight-line basis over the term of the related leases. The following table summarizes the components of leasing revenue for the three and nine months ended September 30, 2019 and 2018: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Leasing revenue - fixed payments $ 159,356 $ 164,351 $ 482,194 $ 494,096 Leasing revenue - variable payments 54,904 59,900 154,096 165,281 $ 214,260 $ 224,251 $ 636,290 $ 659,377 The following table summarizes the future minimum rental payments to the Company: Twelve months ending September 30, 2020 $ 490,897 2021 414,722 2022 363,264 2023 313,166 2024 255,316 Thereafter 753,888 $ 2,591,253 Lessee Leases: The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. In addition, the Company has four finance leases that expire at various times through 2022. The following table summarizes the lease costs for the three and nine months ended September 30, 2019: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease costs $ 3,466 $ 12,675 Finance lease costs: Amortization of ROU assets 475 1,407 Interest on lease liabilities 145 453 $ 4,086 $ 14,535 The following table summarizes the future minimum rental payments required under the leases: September 30, 2019 December 31, 2018 Year ending Operating Finance Leases Operating Leases Finance Leases 2019 $ 4,521 $ 505 $ 16,627 $ 2,106 2020 17,149 2,106 17,183 2,106 2021 17,004 10,440 17,124 10,440 2022 16,867 2,418 17,450 2,418 2023 11,055 — 11,390 — Thereafter 140,415 — 140,562 — Total undiscounted rental payments 207,011 15,469 $ 220,336 $ 17,070 Less imputed interest (104,124) (1,673) Total lease liabilities $ 102,887 $ 13,796

Deferred Charges and Other Asse

Deferred Charges and Other Assets, net	9 Months Ended
	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Charges and Other Assets, net	Deferred Charges and Other Assets, net: Deferred charges and other assets, net consist of the following: September 30, December 31, Leasing $ 203,843 $ 226,885 Intangible assets: In-place lease values 82,777 94,966 Leasing commissions and legal costs 21,019 23,508 Above-market leases 62,679 140,889 Deferred tax assets 30,643 32,197 Deferred compensation plan assets 52,006 45,857 Other assets 51,655 75,497 504,622 639,799 Less accumulated amortization(1) (226,823) (249,396) $ 277,799 $ 390,403 (1) Accumulated amortization includes $67,599 and $72,286 relating to in-place lease values, leasing commissions and legal costs at September 30, 2019 and December 31, 2018, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was $3,467 and $3,114 for the three months ended September 30, 2019 and 2018, respectively, and $9,991 and $10,504 for the nine months ended September 30, 2019 and 2018, respectively. The allocated values of above-market leases and below-market leases consist of the following: September 30, December 31, Above-Market Leases Original allocated value $ 62,679 $ 140,889 Less accumulated amortization (36,199) (49,847) $ 26,480 $ 91,042 Below-Market Leases(1) Original allocated value $ 92,420 $ 108,330 Less accumulated amortization (54,837) (56,345) $ 37,583 $ 51,985 (1) Below-market leases are included in other accrued liabilities.

Mortgage Notes Payable

Mortgage Notes Payable	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Mortgage Notes Payable	Mortgage Notes Payable: Mortgage notes payable at September 30, 2019 and December 31, 2018 consist of the following: Carrying Amount of Mortgage Notes(1) Property Pledged as Collateral September 30, 2019 December 31, 2018 Effective Interest Monthly Maturity Chandler Fashion Center(5)(6) $ 255,086 $ 199,972 4.18 % $ 875 2024 Danbury Fair Mall 196,616 202,158 5.53 % 1,538 2020 Fashion Outlets of Chicago(7) 299,092 199,622 4.61 % 1,145 2031 Fashion Outlets of Niagara Falls USA(8) 107,229 109,651 4.89 % 727 2020 Freehold Raceway Mall(5) 398,337 398,212 3.94 % 1,300 2029 Fresno Fashion Fair 323,609 323,460 3.67 % 971 2026 Green Acres Commons(9) 128,696 128,006 4.81 % 460 2021 Green Acres Mall 279,513 284,686 3.61 % 1,447 2021 Kings Plaza Shopping Center(10) 429,285 437,120 3.67 % 2,229 2019 Oaks, The 188,385 192,037 4.14 % 1,064 2022 Pacific View 119,003 121,362 4.08 % 668 2022 Queens Center 600,000 600,000 3.49 % 1,744 2025 Santa Monica Place(11) 297,630 297,069 3.63 % 845 2022 SanTan Village Regional Center(12) 219,057 121,585 4.34 % 788 2029 Towne Mall 20,399 20,733 4.48 % 117 2022 Tucson La Encantada 64,108 65,361 4.23 % 368 2022 Victor Valley, Mall of 114,719 114,675 4.00 % 380 2024 Vintage Faire Mall 253,869 258,207 3.55 % 1,256 2026 $ 4,294,633 $ 4,073,916 (1) The mortgage notes payable also include unamortized deferred finance costs that are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. Unamortized deferred finance costs were $12,202 and $13,053 at September 30, 2019 and December 31, 2018, respectively. (2) The interest rate disclosed represents the effective interest rate, including the impact of debt premium and deferred finance costs. (3) The monthly debt service represents the payment of principal and interest. (4) The maturity date assumes that all extension options are fully exercised and that the Company does not opt to refinance the debt prior to these dates. These extension options are at the Company's discretion, subject to certain conditions, which the Company believes will be met. (5) A 49.9% interest in the loan has been assumed by a third party in connection with the Company's joint venture in Chandler Freehold (See Note 12—Financing Arrangement). (6) On June 27, 2019, the Company replaced the existing loan on the property with a new $256,000 loan that bears interest at an effective rate of 4.18% and matures on July 5, 2024. (7) On January 10, 2019, the Company replaced the existing loan on the property with a new $300,000 loan that bears interest at an effective rate of 4.61% and matures on February 1, 2031. (8) The loan includes unamortized debt premium of $1,004 and $1,701 at September 30, 2019 and December 31, 2018, respectively. The debt premium represents the excess of the fair value of debt over the principal value of debt assumed at acquisition and is amortized into interest expense over the remaining term of the loan in a manner that approximates the effective interest method. (9) The loan bears interest at LIBOR plus 2.15%. At September 30, 2019 and December 31, 2018, the total interest rate was 4.81% and 5.06%, respectively. (10) On October 24, 2019, the Company agreed to terms with a group of lenders to replace the existing loan on the property with a new $555,000 ten (11) The loan bears interest at LIBOR plus 1.35%. The loan is covered by an interest rate cap agreement that effectively prevents LIBOR from exceeding 4% during the period ending December 9, 2020 (See Note 5—Derivative Instruments and Hedging Activities). At September 30, 2019 and December 31, 2018, the total interest rate was 3.63% and 4.01%, respectively. (12) On June 3, 2019, the Company’s joint venture in SanTan Village Regional Center replaced the existing loan on the property with a new $220,000 loan that bears interest at an effective rate of 4.34% and matures on July 1, 2029. Most of the mortgage loan agreements contain a prepayment penalty provision for the early extinguishment of the debt. The Company's mortgage notes payable are secured by the properties on which they are placed, and with the exception of $65,000 of the loan on Green Acres Commons, are non-recourse to the Company. The Company expects that all loan maturities during the next twelve months will be refinanced, restructured, extended and/or paid off from the Company's line of credit or with cash on hand. Total interest expense capitalized was $2,704 and $3,751 for the three months ended September 30, 2019 and 2018, respectively, and $7,557 and $12,752 for the nine months ended September 30, 2019 and 2018, respectively. The estimated fair value (Level 2 measurement) of mortgage notes payable at September 30, 2019 and December 31, 2018 was $4,357,015 and $4,082,448, respectively, based on current interest rates for comparable loans. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the property that serves as collateral for the underlying debt.

Bank and Other Notes Payable

Bank and Other Notes Payable	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Bank and Other Notes Payable	Bank and Other Notes Payable: Bank and other notes payable consist of the following: Line of Credit: The Company has a $1,500,000 revolving line of credit that bears interest at LIBOR plus a spread of 1.30% to 1.90%, depending on the Company's overall leverage level, and matures on July 6, 2020 with a one-year extension option. The line of credit can be expanded, depending on certain conditions, up to a total facility of $2,000,000. Based on the Company's leverage level as of September 30, 2019, the borrowing rate on the facility was LIBOR plus 1.45%. The Company has four interest rate swap agreements that effectively convert a total of $400,000 of the outstanding balance from floating rate debt of LIBOR plus 1.45% to fixed rate debt of 4.30% until September 30, 2021 (See Note 5—Derivative Instruments and Hedging Activities). As of September 30, 2019 and December 31, 2018, borrowings under the line of credit were $750,000 and $910,000, respectively, less unamortized deferred finance costs of $3,259 and $5,145, respectively, at a total interest rate of 4.03% and 4.20%, respectively. As of September 30, 2019 and December 31, 2018, the Company's availability under the line of credit for additional borrowings was $749,719 and $589,719, respectively, The estimated fair value (Level 2 measurement) of the line of credit at September 30, 2019 and December 31, 2018 was $759,168 and $912,163, respectively, based on a present value model using a credit interest rate spread offered to the Company for comparable debt. Prasada Note: On March 29, 2013, the Company issued a $13,330 note payable that bore interest at 5.25% and was to mature on May 30, 2021. The note payable is collateralized by a portion of a development reimbursement agreement with the City of Surprise, Arizona. At September 30, 2019 and December 31, 2018, the note had a balance of $3,028 and $3,689, respectively. On October 7, 2019, the loan was paid off. The estimated fair value (Level 2 measurement) of the note at September 30, 2019 and December 31, 2018 was $3,058 and $3,690, respectively, based on current interest rates for comparable notes. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the collateral for the underlying debt. As of September 30, 2019 and December 31, 2018, the Company was in compliance with all applicable financial loan covenants.

Financing Arrangement

Financing Arrangement	9 Months Ended
	Sep. 30, 2019
Co-Venture Arrangement [Abstract]
Financing Arrangement	Financing Arrangement: On September 30, 2009, the Company formed a joint venture whereby a third party acquired a 49.9% interest in Chandler Fashion Center, a 1,318,000 square foot regional shopping center in Chandler, Arizona, and Freehold Raceway Mall, a 1,673,000 square foot regional shopping center in Freehold, New Jersey (collectively referred to herein as "Chandler Freehold"). As a result of the Company having certain rights under the agreement to repurchase the assets after the seventh year of the formation of Chandler Freehold, the transaction did not qualify for sale treatment. The Company, however, is not obligated to repurchase the assets. The Company accounts for its investment in Chandler Freehold as a financing arrangement. The fair value (Level 3 measurement) of the financing arrangement obligation at September 30, 2019 and December 31, 2018 was based upon a terminal capitalization rate of 5.0% and 4.8%, respectively, a discount rate of 6.0% and 5.8%, respectively, and market rents per square foot of $35 to $115. The fair value of the financing arrangement obligation is sensitive to these significant unobservable inputs and a change in these inputs may result in a significantly higher or lower fair value measurement. Distributions to the partner, excluding distributions of excess loan proceeds, and changes in fair value of the financing arrangement obligation are recognized as interest (income) expense in the Company's consolidated statements of operations. During the three and nine months ended September 30, 2019 and 2018, the Company incurred interest (income) expense in connection with the financing arrangement as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Distributions of the partner's share of net income $ 1,278 $ 2,111 $ 5,157 $ 6,577 Distributions in excess of the partner's share of net income 2,118 1,754 6,071 4,803 Adjustment to fair value of financing arrangement obligation (39,455) (4,893) (70,977) (9,279) $ (36,059) $ (1,028) $ (59,749) $ 2,101

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2019
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests: The Company allocates net income of the Operating Partnership based on the weighted average ownership interest during the period. The net income of the Operating Partnership that is not attributable to the Company is reflected in the consolidated statements of operations as noncontrolling interests. The Company adjusts the noncontrolling interests in the Operating Partnership at the end of each period to reflect its ownership interest in the Company. The Company had a 93% ownership interest in the Operating Partnership as of September 30, 2019 and December 31, 2018. The remaining 7% limited partnership interest as of September 30, 2019 and December 31, 2018 was owned by certain of the Company's executive officers and directors, certain of their affiliates and other third party investors in the form of OP Units. The OP Units may be redeemed for shares of stock or cash, at the Company's option. The redemption value for each OP Unit as of any balance sheet date is the amount equal to the average of the closing price per share of the Company's common stock, par value $0.01 per share, as reported on the New York Stock Exchange for the 10 trading days ending on the respective balance sheet date. Accordingly, as of September 30, 2019 and December 31, 2018, the aggregate redemption value of the then-outstanding OP Units not owned by the Company was $334,845 and $448,116, respectively. The Company issued common and preferred units of MACWH, LP in April 2005 in connection with the acquisition of the Wilmorite portfolio. The common and preferred units of MACWH, LP are redeemable at the election of the holder. The Company may redeem them for cash or shares of the Company's stock at the Company's option and they are classified as permanent equity.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity: On February 12, 2017, the Company's Board of Directors authorized the repurchase of up to $500,000 of its outstanding common shares as market conditions and the Company’s liquidity warrant. Repurchases may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including ASR transactions, or other methods of acquiring shares, from time to time as permitted by securities laws and other legal requirements. The program is referred to herein as the "2017 Stock Buyback Program". There were no repurchases under the 2017 Stock Buyback Program during the nine months ended September 30, 2019 or 2018. At September 30, 2019, there was $278,707 available under the 2017 Stock Buyback Program.

Collaborative Agreement

Collaborative Agreement	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Collaborative Arrangement	Collaborative Arrangement: On March 1, 2018, the Company formed a 25/75 joint venture with a third party, whereby the Company agreed to contribute One Westside, a 680,000 square foot regional shopping center in Los Angeles, California, in exchange for $142,500. The Company completed the transfer on August 31, 2018. During the period from March 1, 2018 to August 31, 2018, the Company accounted for the operations of One Westside as a collaborative arrangement. Both partners shared operating control of the property and the Company was reimbursed by the outside partner for 75% of the carrying cost of the property, which were defined in the agreement as operating expenses in excess of revenues, debt service and capital expenditures. Accordingly, the Company reduced leasing revenue, other revenue, shopping center and operating expenses and interest expense by its partner's 75% share and recorded a receivable due from its partner, which was settled upon completion of the transfer of the property. In addition, the Company was reimbursed by its partner for its 75% share of mortgage loan principal payments and capital expenditures during the period. Since completion of the transfer, the Company has accounted for its investment in One Westside under the equity method of accounting (See Note 4—Investments in Unconsolidated Joint Ventures).

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Dispositions:On May 17, 2018, the Company sold Promenade at Casa Grande, a 761,000 square foot community center in Casa Grande, Arizona, for $26,000, resulting in a loss on sale of assets of $311. The Company used the proceeds from the sale to pay down its line of credit and for other general corporate purposes.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: As of September 30, 2019, the Company was contingently liable for $100,814 in letters of credit guaranteeing performance by the Company of certain obligations relating to the Centers. The Company does not believe that these letters of credit will result in a liability to the Company. The Company has entered into a number of construction agreements related to its redevelopment and development activities. Obligations under these agreements are contingent upon the completion of the services within the guidelines specified in the agreements. At September 30, 2019, the Company had $12,277 in outstanding obligations, which it believes will be settled in the next twelve months.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions: Certain unconsolidated joint ventures have engaged the Management Companies to manage the operations of the Centers. Under these arrangements, the Management Companies are reimbursed for compensation paid to on-site employees, leasing agents and project managers at the Centers, as well as insurance costs and other administrative expenses. The following are fees charged to unconsolidated joint ventures: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Management fees $ 4,746 $ 4,971 $ 13,897 $ 14,366 Development and leasing fees 4,288 3,970 11,094 10,895 $ 9,034 $ 8,941 $ 24,991 $ 25,261 Certain mortgage notes on the properties are held by NML. NML was considered a related party due to its ownership interest in Broadway Plaza until it sold its ownership interest in the property to a third party on October 12, 2018. Interest expense in connection with these notes, during the period that NML was a related party, was $2,102 and $6,380 for the three and nine months ended September 30, 2018, respectively. Interest (income) expense from related party transactions also includes $(36,059) and $(1,028) for the three months ended September 30, 2019 and 2018, respectively, and $(59,749) and $2,101 for the nine months ended September 30, 2019 and 2018, respectively, in connection with the Financing Arrangement (See Note 12—Financing Arrangement). Due from affiliates includes unreimbursed costs and fees from unconsolidated joint ventures due to the Management Companies. As of September 30, 2019 and December 31, 2018, the amounts due from the unconsolidated joint ventures was $6,599 and $6,385, respectively. In addition, due from affiliates at September 30, 2019 and December 31, 2018 included a note receivable from RED/303 LLC ("RED") that bore interest at 5.25% and was to mature on May 30, 2021. Interest income earned on this note was $44 and $55 for the three months ended September 30, 2019 and 2018, respectively, and $138 and $172 for the nine months ended September 30, 2019 and 2018, respectively. The balance on this note was $3,028 and $3,689 at September 30, 2019 and December 31, 2018, respectively. On October 7, 2019, the note receivable was paid off. RED is considered a related party because it is a partner in a joint venture development project. The note was collateralized by RED's membership interest in the development project.

Share and Unit-Based Plans

Share and Unit-Based Plans	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share and Unit-Based Plans	Share and Unit-Based Plans: Under the Long-Term Incentive Plan ("LTIP"), each award recipient is issued a form of units ("LTIP Units") in the Operating Partnership. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units) are ultimately redeemable for common stock of the Company, or cash at the Company's option, on a one-unit for one-share basis. LTIP Units receive cash dividends based on the dividend amount paid on the common stock of the Company. The LTIP may include both market-indexed awards and service-based awards. The market-indexed LTIP Units vest over the service period of the award based on the percentile ranking of the Company in terms of total return to stockholders (the "Total Return") per share of common stock relative to the Total Return of a group of peer REITs, as measured at the end of the measurement period. During the nine months ended September 30, 2019, the Company granted the following LTIP Units: Grant Date Units Type Fair Value per LTIP Unit Vest Date 1/1/2019 81,732 Service-based $ 43.28 12/31/2021 1/1/2019 250,852 Market-indexed $ 29.25 12/31/2021 9/1/2019 4,393 Service-based $ 28.53 8/31/2022 9/1/2019 6,454 Market-indexed $ 19.42 8/31/2022 343,431 The fair value of the market-indexed LTIP Units (Level 3) granted on January 1, 2019 was estimated on the date of grant using a Monte Carlo Simulation model that assumed a risk free interest rate of 2.46% and an expected volatility of 23.52%. The fair value of the market-indexed LTIP Units (Level 3) granted on September 1, 2019 was estimated on the date of grant using a Monte Carlo Simulation model that assumed a risk free interest rate of 1.42% and an expected volatility of 24.91%. The following table summarizes the activity of the non-vested LTIP Units, phantom stock units and stock units: LTIP Units Phantom Stock Units Stock Units Units Value(1) Units Value(1) Units Value(1) Balance at January 1, 2019 661,578 $ 48.38 — $ — 129,457 $ 64.21 Granted 343,431 32.40 21,580 41.61 159,116 37.57 Vested (7,654) 59.85 (12,756) 42.87 (83,341) 63.63 Forfeited (14,635) 34.26 — — (5,245) 51.48 Balance at September 30, 2019 982,720 $ 42.91 8,824 $ 39.79 199,987 $ 43.59 (1) Value represents the weighted average grant date fair value. The following table summarizes the activity of the stock options outstanding: Stock Options Units Value(1) Balance at January 1, 2019 35,565 $ 57.32 Granted — — Exercised — — Balance at September 30, 2019 35,565 $ 57.32 (1) Value represents the weighted average exercise price. The following summarizes the compensation cost under the share and unit-based plans: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 LTIP Units $ 2,498 $ 3,440 $ 8,859 $ 21,823 Stock units 632 972 3,836 5,717 Stock options — 32 51 94 Phantom stock units 185 172 607 585 $ 3,315 $ 4,616 $ 13,353 $ 28,219

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: The Company has made taxable REIT subsidiary elections for all of its corporate subsidiaries other than its qualified REIT subsidiaries. The elections, effective for the year beginning January 1, 2001 and future years, were made pursuant to Section 856(l) of the Code. The Company's taxable REIT subsidiaries ("TRSs") are subject to corporate level income taxes which are provided for in the Company's consolidated financial statements. The Company's primary TRSs include Macerich Management Company and Macerich Arizona Partners LLC. The income tax provision of the TRSs are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Current $ (89) $ — $ 83 $ 439 Deferred (589) (466) (1,786) 1,360 Total income tax (expense) benefit $ (678) $ (466) $ (1,703) $ 1,799 The net operating loss ("NOL") carryforwards generated through the 2017 tax year are scheduled to expire through 2037, beginning in 2025. Pursuant to the Tax Cuts and Jobs Act of 2017, NOLs generated in 2018 and subsequent tax years carryforward indefinitely subject to the 80% of taxable income limitation. Net deferred tax assets of $30,643 and $32,197 were included in deferred charges and other assets, net at September 30, 2019 and December 31, 2018, respectively. The tax years 2015 through 2018 remain open to examination by the taxing jurisdictions to which the Company is subject. The Company does not expect that the total amount of unrecognized tax benefit will materially change within the next twelve months.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events: On October 24, 2019, the Company announced a dividend/distribution of $0.75 per share for common stockholders and OP Unit holders of record on November 8, 2019. All dividends/distributions will be paid 100% in cash on December 3, 2019. On October 24, 2019, the Company agreed to terms with a group of lenders to replace the existing loan on Kings Plaza Shopping Center with a new $555,000 ten

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by an independent registered public accounting firm. The Company's sole significant asset is its investment in the Operating Partnership and as a result, substantially all of the Company's assets and liabilities represent the assets and liabilities of the Operating Partnership. In addition, the Operating Partnership has investments in a number of consolidated variable interest entities ("VIEs"). The Operating Partnership's consolidated VIEs included the following assets and liabilities: September 30, December 31, Assets: Property, net $ 254,866 $ 263,511 Other assets 23,274 23,001 Total assets $ 278,140 $ 286,512 Liabilities: Mortgage notes payable $ 222,085 $ 125,273 Other liabilities 36,779 32,503 Total liabilities $ 258,864 $ 157,776 All intercompany accounts and transactions have been eliminated in the consolidated financial statements.
Adoption of New Lease Standard	Adoption of New Lease Standard: On January 1, 2019, the Company adopted Accounting Standards Codification ("ASC") 842 "Leases", under the modified retrospective method. The new standard amended the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). In connection with the adoption of the new lease standard, the Company elected to use the transition packages of practical expedients for implementation provided by the Financial Accounting Standards Board ("FASB"), which included (i) relief from re-assessing whether an expired or existing contract meets the definition of a lease, (ii) relief from re-assessing the classification of expired or existing leases at the adoption date, (iii) allowing previously capitalized initial direct leasing costs to continue to be amortized, and (iv) application of the standard as of the adoption date rather than to all periods presented. The standard requires that lessors expense, on an as-incurred basis, certain initial direct costs that are not incremental in negotiating a lease. Initial direct costs include the salaries and related costs for employees directly working on leasing activities. Prior to January 1, 2019, these costs were capitalizable and therefore the new lease standard resulted in certain of these costs being expensed as incurred. For comparison purposes, the Company has reclassified leasing expenses that were included in management companies' operating expenses to leasing expenses for the three and nine months ended September 30, 2018, to conform to the presentation for the three and nine months ended September 30, 2019. Upon the adoption of the new standard, the Company elected the practical expedient to not separate non-lease components, most significantly certain common area maintenance recoveries, from the associated lease components, resulting in the Company presenting all revenues associated with leases as leasing revenue on its consolidated statement of operations. For comparison purposes, the Company has reclassified minimum rents, percentage rents, tenant recoveries and other leasing income to leasing revenue for the three and nine months ended September 30, 2018, to conform to the presentation for the three and nine months ended September 30, 2019. The new standard also requires the Company to reduce leasing revenue for credit losses associated with lease receivables. In addition, straight-line rent receivables are written off when the Company believes there is uncertainty regarding a tenant's ability to complete the term of the lease. As a result, the Company recognized a cumulative effect adjustment of $2,203 upon adoption for the write off of straight-line rent receivables of tenants that were in litigation or bankruptcy. The standard also requires that the provision for bad debts relating to leases be presented as a reduction of leasing revenue. For the three and nine months ended September 30, 2018, the provision for bad debts is included in shopping center and operating expenses. The standard requires lessees to classify its leases as either finance or operating leases. The lessee records a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than twelve months, regardless of their lease classification. Upon adoption, the Company recognized initial ROU assets and corresponding lease liabilities of $109,299, representing the discounted value of future lease payments required for leases classified as operating leases. In addition, the Company reclassified $59,736 from deferred charges and other assets, net, $5,978 from accounts payable and accrued expenses and $4,342 from other accrued liabilities, relating to existing intangible assets and straight-line rent liabilities. The Company's lease liabilities were increased at adoption by $15,268 for lease liabilities associated with finance leases that were previously included in other accrued liabilities. See Note 8—Leases, for further disclosure on the Company's adoption of the new standard. Other Recent Accounting Pronouncements: In August 2017, the FASB issued ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities,” which aims to (i) improve the transparency and understandability of information conveyed to financial statement users about an entity’s risk management activities by better aligning the entity’s financial reporting for hedging relationships with those risk management activities and (ii) reduce the complexity of and simplify the application of hedge accounting by preparers. The Company's adoption of the standard on January 1, 2019 did not have an impact on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of variable interest entities	The Operating Partnership's consolidated VIEs included the following assets and liabilities: September 30, December 31, Assets: Property, net $ 254,866 $ 263,511 Other assets 23,274 23,001 Total assets $ 278,140 $ 286,512 Liabilities: Mortgage notes payable $ 222,085 $ 125,273 Other liabilities 36,779 32,503 Total liabilities $ 258,864 $ 157,776 All intercompany accounts and transactions have been eliminated in the consolidated financial statements.
Schedule of Cash and Cash Equivalents	The following table presents a reconciliation of the beginning of period and end of period cash, cash equivalents and restricted cash reported on the Company's consolidated balance sheets to the totals shown on its consolidated statements of cash flows: For the Nine Months Ended September 30, 2019 2018 Beginning of period Cash and cash equivalents $ 102,711 $ 91,038 Restricted cash 46,590 52,067 Cash, cash equivalents and restricted cash $ 149,301 $ 143,105 End of period Cash and cash equivalents $ 98,309 $ 93,479 Restricted cash 8,959 50,621 Cash, cash equivalents and restricted cash $ 107,268 $ 144,100

Earnings per Share ("EPS") (Tab

Earnings per Share ("EPS") (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Reconciliation of numerator and denominator used in computation of earnings per share	The following table reconciles the numerator and denominator used in the computation of EPS for the three and nine months ended September 30, 2019 and 2018 (shares in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net income $ 50,025 $ 81,241 $ 72,815 $ 55,726 Less net income attributable to noncontrolling interests 3,654 7,213 2,886 7,455 Net income attributable to the Company 46,371 74,028 69,929 48,271 Allocation of earnings to participating securities (297) (278) (869) (824) Numerator for basic and diluted EPS—net income attributable to common stockholders $ 46,074 $ 73,750 $ 69,060 $ 47,447 Denominator Denominator for basic EPS—weighted average number of common shares outstanding 141,368 141,196 141,325 141,120 Effect of dilutive securities(1): Share and unit-based compensation plans — — — 5 Denominator for diluted EPS—weighted average number of common shares outstanding 141,368 141,196 141,325 141,125 EPS—net income attributable to common stockholders: Basic $ 0.33 $ 0.52 $ 0.49 $ 0.34 Diluted $ 0.33 $ 0.52 $ 0.49 $ 0.34 (1) Diluted EPS excludes 90,619 convertible preferred partnership units for the three and nine months ended September 30, 2019 and 2018, as their impact was antidilutive. Diluted EPS also excludes 10,415,238 and 10,377,936 Operating Partnership units ("OP Units") for the three months ended September 30, 2019 and 2018, respectively, and 10,415,234 and 10,355,946 OP Units for the nine months ended September 30, 2019 and 2018, respectively, as their impact was antidilutive.

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Combined and condensed balance sheets of unconsolidated joint ventures	Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures: September 30, December 31, Assets(1): Property, net $ 9,359,938 $ 9,241,003 Other assets 807,237 703,861 Total assets $ 10,167,175 $ 9,944,864 Liabilities and partners' capital(1): Mortgage and other notes payable $ 6,261,409 $ 6,050,930 Other liabilities 538,155 388,509 Company's capital 1,828,638 1,913,475 Outside partners' capital 1,538,973 1,591,950 Total liabilities and partners' capital $ 10,167,175 $ 9,944,864 Investments in unconsolidated joint ventures: Company's capital $ 1,828,638 $ 1,913,475 Basis adjustment(2) (504,176) (535,808) $ 1,324,462 $ 1,377,667 Assets—Investments in unconsolidated joint ventures $ 1,436,788 $ 1,492,655 Liabilities—Distributions in excess of investments in unconsolidated joint ventures (112,326) (114,988) $ 1,324,462 $ 1,377,667 (1) These amounts include assets of $2,981,866 and $3,047,851 of Pacific Premier Retail LLC (the "PPR Portfolio") as of September 30, 2019 and December 31, 2018, respectively, and liabilities of $1,836,948 and $1,859,637 of the PPR Portfolio as of September 30, 2019 and December 31, 2018, respectively. (2) The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was $5,354 and $1,160 for the three months ended September 30, 2019 and 2018, respectively, and $15,164 and $8,787 for the nine months ended September 30, 2019 and 2018, respectively.
Combined and condensed statements of operations of unconsolidated joint ventures	Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures: PPR Portfolio Other Total Three Months Ended September 30, 2019 Revenues: Leasing revenue $ 46,308 $ 169,132 $ 215,440 Other 668 15,648 16,316 Total revenues 46,976 184,780 231,756 Expenses: Shopping center and operating expenses 9,289 58,658 67,947 Leasing expenses 407 1,750 2,157 Interest expense 16,926 36,021 52,947 Depreciation and amortization 25,260 63,683 88,943 Total operating expenses 51,882 160,112 211,994 Gain on sale or write down of assets, net 5 — 5 Net (loss) income $ (4,901) $ 24,668 $ 19,767 Company's equity in net (loss) income $ (409) $ 14,991 $ 14,582 Three Months Ended September 30, 2018 Revenues: Leasing revenue $ 46,859 $ 176,990 $ 223,849 Other 27 11,767 11,794 Total revenues 46,886 188,757 235,643 Expenses: Shopping center and operating expenses 9,893 61,528 71,421 Interest expense(1) 16,680 37,968 54,648 Depreciation and amortization 24,582 61,323 85,905 Total operating expenses 51,155 160,819 211,974 (Loss) gain on sale or write down of assets, net (47) 12,622 12,575 Net (loss) income $ (4,316) $ 40,560 $ 36,244 Company's equity in net (loss) income $ (148) $ 18,937 $ 18,789 PPR Portfolio Other Total Nine Months Ended September 30, 2019 Revenues: Leasing revenue $ 137,674 $ 514,929 $ 652,603 Other 1,285 40,809 42,094 Total revenues 138,959 555,738 694,697 Expenses: Shopping center and operating expenses 27,431 177,373 204,804 Leasing expenses 1,247 5,112 6,359 Interest expense 50,920 110,614 161,534 Depreciation and amortization 75,506 205,016 280,522 Total operating expenses 155,104 498,115 653,219 Loss on sale or write down of assets, net (400) (280) (680) Net (loss) income $ (16,545) $ 57,343 $ 40,798 Company's equity in net (loss) income $ (2,139) $ 36,221 $ 34,082 Nine Months Ended September 30, 2018 Revenues: Leasing revenue $ 137,641 $ 533,041 $ 670,682 Other 627 31,917 32,544 Total revenues 138,268 564,958 703,226 Expenses: Shopping center and operating expenses 29,091 183,174 212,265 Interest expense(1) 50,176 108,356 158,532 Depreciation and amortization 73,137 184,708 257,845 Total operating expenses 152,404 476,238 628,642 (Loss) gain on sale or write down of assets, net (47) 14,151 14,104 Net (loss) income $ (14,183) $ 102,871 $ 88,688 Company's equity in net (loss) income $ (1,021) $ 52,351 $ 51,330

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following derivatives were outstanding at September 30, 2019: Fair Value Property Notional Amount Product LIBOR Rate Maturity September 30, December 31, Santa Monica Place $ 300,000 Cap 4.00 % 12/9/2020 $ — $ (53) The Macerich Partnership, L.P. $ 400,000 Swaps 2.85 % 9/30/2021 $ (10,946) $ (4,413)

Property, net (Tables)

Property, net (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Components of property	Property, net consists of the following: September 30, December 31, Land $ 1,508,445 $ 1,506,678 Buildings and improvements 6,315,465 6,288,308 Tenant improvements 708,230 678,110 Equipment and furnishings(1) 214,065 206,398 Construction in progress 204,172 199,326 8,950,377 8,878,820 Less accumulated depreciation(1) (2,286,271) (2,093,044) $ 6,664,106 $ 6,785,776
Schedule of Loss (Gain) on Sale or Write down of Assets	The (loss) gain on sale or write down of assets, net for the three and nine months ended September 30, 2019 and 2018 consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Property sales(1) $ — $ 46,242 $ — $ 45,931 Write-down of assets(2) (212) (1,786) (16,121) (50,578) Land sales 81 2,060 615 4,133 $ (131) $ 46,516 $ (15,506) $ (514) (1) Gain on sale of properties during the three and nine months ended September 30, 2018 includes a gain of $46,242 on the sale of a 75% ownership interest in One Westside (See Note 4—Investments in Unconsolidated Joint Ventures). Gain on sale of properties during the nine months ended September 30, 2018 also includes the loss of $311 on the sale of Promenade at Casa Grande (See Note 16—Dispositions). (2) Includes impairment losses of $36,338 on SouthPark Mall, $7,494 on two freestanding stores, $1,695 on Southridge Center and $1,043 on Promenade at Casa Grande during the nine months ended September 30, 2018. The impairment losses were due to the reduction of the estimated holding periods of the properties. The remaining balances represent the write off of development costs.
Assets measured on a nonrecurring basis	The following table summarizes certain of the Company's assets that were measured on a nonrecurring basis as a result of the impairment losses recorded for the nine months ended September 30, 2018, as described above: Total Fair Value Measurement Quoted Prices in Active Markets for Identical Assets Significant Other Unobservable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) September 30, 2018 $ 72,700 $ — $ 72,700 $ —

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Components of leasing revenue	The following table summarizes the components of leasing revenue for the three and nine months ended September 30, 2019 and 2018: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Leasing revenue - fixed payments $ 159,356 $ 164,351 $ 482,194 $ 494,096 Leasing revenue - variable payments 54,904 59,900 154,096 165,281 $ 214,260 $ 224,251 $ 636,290 $ 659,377
Summary of minimum rental payments	The following table summarizes the future minimum rental payments to the Company: Twelve months ending September 30, 2020 $ 490,897 2021 414,722 2022 363,264 2023 313,166 2024 255,316 Thereafter 753,888 $ 2,591,253
Summary of lease costs	The following table summarizes the lease costs for the three and nine months ended September 30, 2019: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease costs $ 3,466 $ 12,675 Finance lease costs: Amortization of ROU assets 475 1,407 Interest on lease liabilities 145 453 $ 4,086 $ 14,535
Summarizes of minimum future rental payments required	The following table summarizes the future minimum rental payments required under the leases: September 30, 2019 December 31, 2018 Year ending Operating Finance Leases Operating Leases Finance Leases 2019 $ 4,521 $ 505 $ 16,627 $ 2,106 2020 17,149 2,106 17,183 2,106 2021 17,004 10,440 17,124 10,440 2022 16,867 2,418 17,450 2,418 2023 11,055 — 11,390 — Thereafter 140,415 — 140,562 — Total undiscounted rental payments 207,011 15,469 $ 220,336 $ 17,070 Less imputed interest (104,124) (1,673) Total lease liabilities $ 102,887 $ 13,796

Deferred Charges and Other As_2

Deferred Charges and Other Assets, net (Tables)	9 Months Ended
	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of deferred charges and other assets, net	Deferred charges and other assets, net consist of the following: September 30, December 31, Leasing $ 203,843 $ 226,885 Intangible assets: In-place lease values 82,777 94,966 Leasing commissions and legal costs 21,019 23,508 Above-market leases 62,679 140,889 Deferred tax assets 30,643 32,197 Deferred compensation plan assets 52,006 45,857 Other assets 51,655 75,497 504,622 639,799 Less accumulated amortization(1) (226,823) (249,396) $ 277,799 $ 390,403 (1) Accumulated amortization includes $67,599 and $72,286 relating to in-place lease values, leasing commissions and legal costs at September 30, 2019 and December 31, 2018, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was $3,467 and $3,114 for the three months ended September 30, 2019 and 2018, respectively, and $9,991 and $10,504 for the nine months ended September 30, 2019 and 2018, respectively.
Allocated values of above-market leases and below-market leases	The allocated values of above-market leases and below-market leases consist of the following: September 30, December 31, Above-Market Leases Original allocated value $ 62,679 $ 140,889 Less accumulated amortization (36,199) (49,847) $ 26,480 $ 91,042 Below-Market Leases(1) Original allocated value $ 92,420 $ 108,330 Less accumulated amortization (54,837) (56,345) $ 37,583 $ 51,985 (1) Below-market leases are included in other accrued liabilities.

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Mortgage notes payable	Mortgage notes payable at September 30, 2019 and December 31, 2018 consist of the following: Carrying Amount of Mortgage Notes(1) Property Pledged as Collateral September 30, 2019 December 31, 2018 Effective Interest Monthly Maturity Chandler Fashion Center(5)(6) $ 255,086 $ 199,972 4.18 % $ 875 2024 Danbury Fair Mall 196,616 202,158 5.53 % 1,538 2020 Fashion Outlets of Chicago(7) 299,092 199,622 4.61 % 1,145 2031 Fashion Outlets of Niagara Falls USA(8) 107,229 109,651 4.89 % 727 2020 Freehold Raceway Mall(5) 398,337 398,212 3.94 % 1,300 2029 Fresno Fashion Fair 323,609 323,460 3.67 % 971 2026 Green Acres Commons(9) 128,696 128,006 4.81 % 460 2021 Green Acres Mall 279,513 284,686 3.61 % 1,447 2021 Kings Plaza Shopping Center(10) 429,285 437,120 3.67 % 2,229 2019 Oaks, The 188,385 192,037 4.14 % 1,064 2022 Pacific View 119,003 121,362 4.08 % 668 2022 Queens Center 600,000 600,000 3.49 % 1,744 2025 Santa Monica Place(11) 297,630 297,069 3.63 % 845 2022 SanTan Village Regional Center(12) 219,057 121,585 4.34 % 788 2029 Towne Mall 20,399 20,733 4.48 % 117 2022 Tucson La Encantada 64,108 65,361 4.23 % 368 2022 Victor Valley, Mall of 114,719 114,675 4.00 % 380 2024 Vintage Faire Mall 253,869 258,207 3.55 % 1,256 2026 $ 4,294,633 $ 4,073,916 (1) The mortgage notes payable also include unamortized deferred finance costs that are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. Unamortized deferred finance costs were $12,202 and $13,053 at September 30, 2019 and December 31, 2018, respectively. (2) The interest rate disclosed represents the effective interest rate, including the impact of debt premium and deferred finance costs. (3) The monthly debt service represents the payment of principal and interest. (4) The maturity date assumes that all extension options are fully exercised and that the Company does not opt to refinance the debt prior to these dates. These extension options are at the Company's discretion, subject to certain conditions, which the Company believes will be met. (5) A 49.9% interest in the loan has been assumed by a third party in connection with the Company's joint venture in Chandler Freehold (See Note 12—Financing Arrangement). (6) On June 27, 2019, the Company replaced the existing loan on the property with a new $256,000 loan that bears interest at an effective rate of 4.18% and matures on July 5, 2024. (7) On January 10, 2019, the Company replaced the existing loan on the property with a new $300,000 loan that bears interest at an effective rate of 4.61% and matures on February 1, 2031. (8) The loan includes unamortized debt premium of $1,004 and $1,701 at September 30, 2019 and December 31, 2018, respectively. The debt premium represents the excess of the fair value of debt over the principal value of debt assumed at acquisition and is amortized into interest expense over the remaining term of the loan in a manner that approximates the effective interest method. (9) The loan bears interest at LIBOR plus 2.15%. At September 30, 2019 and December 31, 2018, the total interest rate was 4.81% and 5.06%, respectively. (10) On October 24, 2019, the Company agreed to terms with a group of lenders to replace the existing loan on the property with a new $555,000 ten (11) The loan bears interest at LIBOR plus 1.35%. The loan is covered by an interest rate cap agreement that effectively prevents LIBOR from exceeding 4% during the period ending December 9, 2020 (See Note 5—Derivative Instruments and Hedging Activities). At September 30, 2019 and December 31, 2018, the total interest rate was 3.63% and 4.01%, respectively. (12) On June 3, 2019, the Company’s joint venture in SanTan Village Regional Center replaced the existing loan on the property with a new $220,000 loan that bears interest at an effective rate of 4.34% and matures on July 1, 2029.

Financing Arrangement (Tables)

Financing Arrangement (Tables)	9 Months Ended
	Sep. 30, 2019
Co-Venture Arrangement [Abstract]
Financing arrangement activity	During the three and nine months ended September 30, 2019 and 2018, the Company incurred interest (income) expense in connection with the financing arrangement as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Distributions of the partner's share of net income $ 1,278 $ 2,111 $ 5,157 $ 6,577 Distributions in excess of the partner's share of net income 2,118 1,754 6,071 4,803 Adjustment to fair value of financing arrangement obligation (39,455) (4,893) (70,977) (9,279) $ (36,059) $ (1,028) $ (59,749) $ 2,101

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Schedule of fees charged to unconsolidated joint ventures	The following are fees charged to unconsolidated joint ventures: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Management fees $ 4,746 $ 4,971 $ 13,897 $ 14,366 Development and leasing fees 4,288 3,970 11,094 10,895 $ 9,034 $ 8,941 $ 24,991 $ 25,261

Share and Unit-Based Plans (Tab

Share and Unit-Based Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of LTIP Units Granted	During the nine months ended September 30, 2019, the Company granted the following LTIP Units: Grant Date Units Type Fair Value per LTIP Unit Vest Date 1/1/2019 81,732 Service-based $ 43.28 12/31/2021 1/1/2019 250,852 Market-indexed $ 29.25 12/31/2021 9/1/2019 4,393 Service-based $ 28.53 8/31/2022 9/1/2019 6,454 Market-indexed $ 19.42 8/31/2022 343,431
Summary of activity of non-vested LTIP Units, stock awards, phantom stock and stock units	The following table summarizes the activity of the non-vested LTIP Units, phantom stock units and stock units: LTIP Units Phantom Stock Units Stock Units Units Value(1) Units Value(1) Units Value(1) Balance at January 1, 2019 661,578 $ 48.38 — $ — 129,457 $ 64.21 Granted 343,431 32.40 21,580 41.61 159,116 37.57 Vested (7,654) 59.85 (12,756) 42.87 (83,341) 63.63 Forfeited (14,635) 34.26 — — (5,245) 51.48 Balance at September 30, 2019 982,720 $ 42.91 8,824 $ 39.79 199,987 $ 43.59 (1) Value represents the weighted average grant date fair value.
Summary of activity of SARs and stock options outstanding	The following table summarizes the activity of the stock options outstanding: Stock Options Units Value(1) Balance at January 1, 2019 35,565 $ 57.32 Granted — — Exercised — — Balance at September 30, 2019 35,565 $ 57.32 (1) Value represents the weighted average exercise price.
Compensation cost under the share and unit-based plans	The following summarizes the compensation cost under the share and unit-based plans: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 LTIP Units $ 2,498 $ 3,440 $ 8,859 $ 21,823 Stock units 632 972 3,836 5,717 Stock options — 32 51 94 Phantom stock units 185 172 607 585 $ 3,315 $ 4,616 $ 13,353 $ 28,219

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of income tax benefit of TRSs	The income tax provision of the TRSs are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Current $ (89) $ — $ 83 $ 439 Deferred (589) (466) (1,786) 1,360 Total income tax (expense) benefit $ (678) $ (466) $ (1,703) $ 1,799

Organization (Details)

Organization (Details)	9 Months Ended
	Sep. 30, 2019entity
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of management companies (in entities)	7
The Macerich Partnership, L.P.
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership interest in operating partnership	93.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of variable interest entities (Details) - Operating Partnership - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Total assets	$ 278,140	$ 286,512
Total liabilities	258,864	157,776
Property, net
Variable Interest Entity [Line Items]
Total assets	254,866	263,511
Other assets
Variable Interest Entity [Line Items]
Total assets	23,274	23,001
Mortgage notes payable
Variable Interest Entity [Line Items]
Total liabilities	222,085	125,273
Other liabilities
Variable Interest Entity [Line Items]
Total liabilities	$ 36,779	$ 32,503

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 98,309	$ 102,711	$ 93,479	$ 91,038
Restricted cash	8,959	46,590	50,621	52,067
Cash, cash equivalents and restricted cash	$ 107,268	$ 149,301	$ 144,100	$ 143,105

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs related to shareholder activism	$ 0	$ 0	$ 0	$ 19,369
Cumulative effect adjustment					$ (2,203)		$ (424,859)
ROU assets	150,656		150,656
Lease liabilities	102,887		102,887
Deferred charges and other assets, net	(277,799)		(277,799)			$ (390,403)
Accounts payable and accrued expenses	61,348		61,348			59,392
Other accrued liabilities	253,882		253,882			$ 303,051
Finance lease liabilities	$ 13,796		$ 13,796
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment					(2,203)
ROU assets					109,299
Lease liabilities					109,299
Deferred charges and other assets, net					59,736
Accounts payable and accrued expenses					(5,978)
Other accrued liabilities					(4,342)
Finance lease liabilities					$ 15,268

Earnings per Share ("EPS") (Det

Earnings per Share ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator
Net income	$ 50,025	$ 81,241	$ 72,815	$ 55,726
Less net income attributable to noncontrolling interests	3,654	7,213	2,886	7,455
Net income attributable to the Company	46,371	74,028	69,929	48,271
Allocation of earnings to participating securities	(297)	(278)	(869)	(824)
Numerator for basic and diluted EPS—net income attributable to common stockholders	$ 46,074	$ 73,750	$ 69,060	$ 47,447
Denominator
Denominator for basic EPS—weighted average number of common shares outstanding (in shares)	141,368,000	141,196,000	141,325,000	141,120,000
Effect of dilutive securities:
Share and unit-based compensation plans (in share)	0	0	0	5,000
Denominator for diluted EPS—weighted average number of common shares outstanding (in shares)	141,368,000	141,196,000	141,325,000	141,125,000
EPS—net income attributable to common stockholders:
Basic (in dollars per share)	$ 0.33	$ 0.52	$ 0.49	$ 0.34
Diluted (in dollars per share)	$ 0.33	$ 0.52	$ 0.49	$ 0.34
Convertible non-participating preferred units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from Diluted EPS (in shares)	90,619	90,619	90,619	90,619
Partnership unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from Diluted EPS (in shares)	10,415,238	10,377,936	10,415,234	10,355,946

Investments in Unconsolidated_3

Investments in Unconsolidated Joint Ventures - Narrative (Details) ft² in Thousands, $ in Thousands	Aug. 16, 2019USD ($)	Jul. 25, 2019USD ($)	Aug. 31, 2018USD ($)ft²	Jul. 06, 2018USD ($)ft²	Feb. 16, 2018USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 12, 2019USD ($)	Sep. 06, 2018ft²	Mar. 01, 2018
Schedule of Equity Method Investments [Line Items]
Ownership percentage											25.00%
Proceeds received in disposition of property							$ 0	$ 36,305
Outside partner interest of the operating partnership											75.00%
Proceeds from sale			$ 142,500
Westside Pavilion
Schedule of Equity Method Investments [Line Items]
Property area (in square feet) | ft²			680
Replacement collateral
Schedule of Equity Method Investments [Line Items]
Proceeds from sale			$ 37,294
Fashion District Philadelphia | Office building
Schedule of Equity Method Investments [Line Items]
Gain on sale of building					$ 2,773
The Market at Estrella Falls
Schedule of Equity Method Investments [Line Items]
Gain on sale of building				$ 2,996
Joint Venture | Westside Pavilion
Schedule of Equity Method Investments [Line Items]
Ownership percentage											75.00%
Joint Venture | Westside Pavilion | Hudson Pacific Properties
Schedule of Equity Method Investments [Line Items]
Ownership percentage											25.00%
Joint Venture | Los Angeles Premium Outlets
Schedule of Equity Method Investments [Line Items]
Ownership percentage										50.00%
Property area (in square feet) | ft²										400
Joint Venture | Los Angeles Premium Outlets | Simon Property Group
Schedule of Equity Method Investments [Line Items]
Ownership percentage										50.00%
Joint Venture | Los Angeles Premium Outlets, second stage
Schedule of Equity Method Investments [Line Items]
Property area (in square feet) | ft²										165
Joint Venture | Tysons Tower
Schedule of Equity Method Investments [Line Items]
New loan									$ 190,000
Effective interest rate									3.38%
Joint Venture | Fashion District Philadelphia
Schedule of Equity Method Investments [Line Items]
Additional borrowings		$ 100,000
Interest rate spread over basis		2.00%
Amount of additional borrowing	$ 25,000	$ 26,000
Joint Venture | Replacement collateral
Schedule of Equity Method Investments [Line Items]
Marketable Securities			149,175
Joint Venture | Fashion District Philadelphia | Office building
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of building					41,800
Gain on sale of building					$ 5,545
Joint Venture | Westside Pavilion
Schedule of Equity Method Investments [Line Items]
Gain on sale of building			46,242			$ 46,242		$ 46,242
Proceeds received in disposition of property			$ 142,500
Outside partner interest of the operating partnership			75.00%			75.00%		75.00%
Proceeds from sale			$ 36,903
Assumption of mortgage notes payable			$ 105,597
Joint Venture | The Market at Estrella Falls
Schedule of Equity Method Investments [Line Items]
Gain on sale of building				$ 12,598
Property area (in square feet) | ft²				298
Proceeds from sale				$ 49,100
Repayments of debt				$ 24,118

Investments in Unconsolidated_4

Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investments in unconsolidated joint ventures:
Assets—Investments in unconsolidated joint ventures	$ 1,436,788	$ 1,492,655
Liabilities—Distributions in excess of investments in unconsolidated joint ventures	(112,326)	(114,988)
Joint Venture
Assets:
Property, net	9,359,938	9,241,003
Other assets	807,237	703,861
Total assets	10,167,175	9,944,864
Liabilities and partners' capital:
Mortgage and other notes payable	6,261,409	6,050,930
Other liabilities	538,155	388,509
Company's capital	1,828,638	1,913,475
Outside partners' capital	1,538,973	1,591,950
Total liabilities and partners' capital	10,167,175	9,944,864
Investments in unconsolidated joint ventures:
Company's capital	1,828,638	1,913,475
Basis adjustment	(504,176)	(535,808)
Investments in unconsolidated joint ventures	1,324,462	1,377,667
Assets—Investments in unconsolidated joint ventures	1,436,788	1,492,655
Liabilities—Distributions in excess of investments in unconsolidated joint ventures	(112,326)	(114,988)
Investments in unconsolidated joint ventures	$ 1,324,462	$ 1,377,667

Investments in Unconsolidated_5

Investments in Unconsolidated Joint Ventures - Balance Sheet footnotes (Details) - Joint Venture - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Total assets	$ 10,167,175		$ 10,167,175		$ 9,944,864
Amortization of difference between cost of investments and book value of underlying equity	5,354	$ 1,160	15,164	$ 8,787
PPR Portfolio
Schedule of Equity Method Investments [Line Items]
Total assets	2,981,866		2,981,866		3,047,851
Total liabilities	$ 1,836,948		$ 1,836,948		$ 1,859,637

Investments in Unconsolidated_6

Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of unconsolidated joint ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Leasing revenue	$ 214,260		$ 636,290
Expenses:
Company's equity in net (loss) income	14,582	$ 18,789	34,082	$ 51,330
Joint Venture
Revenues:
Leasing revenue	215,440	223,849	652,603	670,682
Other	16,316	11,794	42,094	32,544
Total revenues	231,756	235,643	694,697	703,226
Expenses:
Shopping center and operating expenses	67,947	71,421	204,804	212,265
Leasing expenses	2,157		6,359
Interest expense	52,947	54,648	161,534	158,532
Depreciation and amortization	88,943	85,905	280,522	257,845
Total operating expenses	211,994	211,974	653,219	628,642
(Loss) gain on sale or write down of assets, net	5	12,575	(680)	14,104
Net (loss) income	19,767	36,244	40,798	88,688
Company's equity in net (loss) income	14,582	18,789	34,082	51,330
Joint Venture | PPR Portfolio
Revenues:
Leasing revenue	46,308	46,859	137,674	137,641
Other	668	27	1,285	627
Total revenues	46,976	46,886	138,959	138,268
Expenses:
Shopping center and operating expenses	9,289	9,893	27,431	29,091
Leasing expenses	407		1,247
Interest expense	16,926	16,680	50,920	50,176
Depreciation and amortization	25,260	24,582	75,506	73,137
Total operating expenses	51,882	51,155	155,104	152,404
(Loss) gain on sale or write down of assets, net	5	(47)	(400)	(47)
Net (loss) income	(4,901)	(4,316)	(16,545)	(14,183)
Company's equity in net (loss) income	(409)	(148)	(2,139)	(1,021)
Joint Venture | Other Joint Ventures
Revenues:
Leasing revenue	169,132	176,990	514,929	533,041
Other	15,648	11,767	40,809	31,917
Total revenues	184,780	188,757	555,738	564,958
Expenses:
Shopping center and operating expenses	58,658	61,528	177,373	183,174
Leasing expenses	1,750		5,112
Interest expense	36,021	37,968	110,614	108,356
Depreciation and amortization	63,683	61,323	205,016	184,708
Total operating expenses	160,112	160,819	498,115	476,238
(Loss) gain on sale or write down of assets, net	0	12,622	(280)	14,151
Net (loss) income	24,668	40,560	57,343	102,871
Company's equity in net (loss) income	$ 14,991	18,937	$ 36,221	52,351
NML
Expenses:
Interest expense on borrowings from related party		$ 7,148		$ 19,264

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest rate cap/swap agreements		$ 175		$ 184
Interest rate cap/swap agreements	$ (154)		$ (6,480)
Level 2 measurement | Cap
Derivatives, Fair Value [Line Items]
Notional Amount	$ 300,000		$ 300,000
LIBOR Rate	4.00%		4.00%
Fair Value	$ 0		$ 0		$ (53)
Level 2 measurement | Swaps
Derivatives, Fair Value [Line Items]
Notional Amount	$ 400,000		$ 400,000
LIBOR Rate	2.85%		2.85%
Fair Value	$ (10,946)		$ (10,946)		$ (4,413)

Property, net - Components of p

Property, net - Components of property (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land	$ 1,508,445	$ 1,506,678
Buildings and improvements	6,315,465	6,288,308
Tenant improvements	708,230	678,110
Equipment and furnishings	214,065	206,398
Construction in progress	204,172	199,326
Total	8,950,377	8,878,820
Less accumulated depreciation	(2,286,271)	(2,093,044)
Property, net	$ 6,664,106	$ 6,785,776

Property, net - Narrative (Deta

Property, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Real Estate [Abstract]
Depreciation expense	$ 72,519	$ 69,237	$ 214,689	$ 204,031

Property, Plant, and Equipment

Property, Plant, and Equipment - Schedule of Loss (Gain) on Sale or Write down of Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2018	May 17, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 01, 2018
Property, Plant and Equipment [Line Items]
Write-down of assets			$ 212	$ 1,786	$ 16,121	$ 50,578
(Loss) gain on sale or write down of assets, net			(131)	46,516	(15,506)	(514)
Outside partner interest of the operating partnership							75.00%
Write-down of assets			(212)	(1,786)	(16,121)	(50,578)
Promenade at Casa Grande
Property, Plant and Equipment [Line Items]
Write-down of assets						1,043
(Loss) gain on sale or write down of assets, net		$ (311)
Loss on sale						(311)
Write-down of assets						(1,043)
South Park Mall
Property, Plant and Equipment [Line Items]
Write-down of assets						36,338
Write-down of assets						(36,338)
Two freestanding stores
Property, Plant and Equipment [Line Items]
Write-down of assets						7,494
Write-down of assets						(7,494)
Southridge Center
Property, Plant and Equipment [Line Items]
Write-down of assets						1,695
Write-down of assets						(1,695)
Westside Pavilion | Joint Venture
Property, Plant and Equipment [Line Items]
Gain on sale	$ 46,242			$ 46,242		$ 46,242
Outside partner interest of the operating partnership	75.00%			75.00%		75.00%
Land
Property, Plant and Equipment [Line Items]
Gain on sale			81	$ 2,060	615	$ 4,133
Property
Property, Plant and Equipment [Line Items]
Gain on sale			$ 0	$ 46,242	$ 0	$ 45,931

Property, net - Assets measured

Property, net - Assets measured on a nonrecurring basis (Details) $ in Thousands	Sep. 30, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 72,700
Fair value measurements on a nonrecurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0
Fair value measurements on a nonrecurring basis | Significant Other Unobservable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	72,700
Fair value measurements on a nonrecurring basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 0

Tenant and Other Receivables,_2

Tenant and Other Receivables, net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]
Allowance for doubtful accounts	$ 4,634	$ 2,919
Components of tenant and other receivables, net
Deferred rent receivable due to straight-line rent adjustments	78,783	72,456
Accrued percentage rents
Components of tenant and other receivables, net
Accounts receivable	$ 1,948	$ 8,949

Leases - Components of leasing

Leases - Components of leasing revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Leases [Abstract]
Leasing revenue - fixed payments	$ 159,356		$ 482,194
Leasing revenue - fixed payments		$ 164,351		$ 494,096
Leasing revenue - variable payments	54,904		154,096
Leasing revenue - variable payments		59,900		165,281
Total leasing revenue	$ 214,260		$ 636,290
Total leasing revenue		$ 224,251		$ 659,377

Leases - Summary of minimum ren

Leases - Summary of minimum rental payments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
2020	$ 490,897
2021	414,722
2022	363,264
2023	313,166
2024	255,316
Thereafter	753,888
Total minimum rental payments	$ 2,591,253

Leases - Narrative (Details)

Leases - Narrative (Details)	9 Months Ended
	Sep. 30, 2019lease
Leases [Abstract]
Number of finance leases	4
Weighted average remaining lease term, operating leases	31 years
Weighted average remaining lease term, finance leases	1 year 10 months 24 days
Weighted average incremental borrowing rate, operating leases	7.70%
Weighted average incremental borrowing rate, finance leases	4.20%

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease costs	$ 3,466	$ 12,675
Finance lease costs:
Amortization of ROU assets	475	1,407
Interest on lease liabilities	145	453
Total lease cost	$ 4,086	$ 14,535

Leases - Summary of minimum fut

Leases - Summary of minimum future rental payments required (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Operating Leases
2019	$ 4,521
2020	17,149
2021	17,004
2022	16,867
2023	11,055
Thereafter	140,415
Total undiscounted rental payments	207,011
Less imputed interest	(104,124)
Total lease liabilities	102,887
Operating Leases
2019		$ 16,627
2020		17,183
2021		17,124
2022		17,450
2023		11,390
Thereafter		140,562
Total undiscounted rental payments		220,336
Finance Leases
2019	505
2020	2,106
2021	10,440
2022	2,418
2023	0
Thereafter	0
Total undiscounted rental payments	15,469
Less imputed interest	(1,673)
Total lease liabilities	$ 13,796
Finance Leases
2019		2,106
2020		2,106
2021		10,440
2022		2,418
2023		0
Thereafter		0
Total undiscounted rental payments		$ 17,070

Deferred Charges and Other As_3

Deferred Charges and Other Assets, net - Schedule of deferred charges and other assets, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Leasing	$ 203,843		$ 203,843		$ 226,885
Intangible assets:
In-place lease values	82,777		82,777		94,966
Leasing commissions and legal costs	21,019		21,019		23,508
Above-market leases	62,679		62,679		140,889
Deferred tax assets	30,643		30,643		32,197
Deferred compensation plan assets	52,006		52,006		45,857
Other assets	51,655		51,655		75,497
Deferred charges and other assets, gross	504,622		504,622		639,799
Less accumulated amortization	(226,823)		(226,823)		(249,396)
Deferred charges and other assets, net	277,799		277,799		390,403
In-place lease values, leasing commissions and legal costs
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization for intangible assets	67,599		67,599		$ 72,286
Amortization expense for intangible assets	$ 3,467	$ 3,114	$ 9,991	$ 10,504

Deferred Charges and Other As_4

Deferred Charges and Other Assets, net - Allocated values of above-market leases and below-market leases (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Above-Market Leases
Above-Market Leases
Original allocated value	$ 62,679	$ 140,889
Less accumulated amortization	(36,199)	(49,847)
Allocated value net	26,480	91,042
Below-Market Leases
Below-Market Leases
Original allocated value	92,420	108,330
Less accumulated amortization	(54,837)	(56,345)
Allocated value net	$ 37,583	$ 51,985

Mortgage Notes Payable - Schedu

Mortgage Notes Payable - Schedule of mortgage notes payable (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jun. 27, 2019	Dec. 31, 2018
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 4,294,633		$ 4,073,916
Chandler Fashion Center
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 255,086		199,972
Effective interest rate	4.18%	4.18%
Monthly Debt Service	$ 875
Danbury Fair Mall
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 196,616		202,158
Effective interest rate	5.53%
Monthly Debt Service	$ 1,538
Fashion Outlets of Chicago
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 299,092		199,622
Effective interest rate	4.61%
Monthly Debt Service	$ 1,145
Fashion Outlets of Niagara Falls USA
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 107,229		109,651
Effective interest rate	4.89%
Monthly Debt Service	$ 727
Freehold Raceway Mall
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 398,337		398,212
Effective interest rate	3.94%
Monthly Debt Service	$ 1,300
Fresno Fashion Fair
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 323,609		323,460
Effective interest rate	3.67%
Monthly Debt Service	$ 971
Green Acres Commons
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 128,696		$ 128,006
Effective interest rate	4.81%		5.06%
Monthly Debt Service	$ 460
Green Acres Mall
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 279,513		$ 284,686
Effective interest rate	3.61%
Monthly Debt Service	$ 1,447
Kings Plaza Shopping Center
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 429,285		437,120
Effective interest rate	3.67%
Monthly Debt Service	$ 2,229
Oaks, The
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 188,385		192,037
Effective interest rate	4.14%
Monthly Debt Service	$ 1,064
Pacific View
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 119,003		121,362
Effective interest rate	4.08%
Monthly Debt Service	$ 668
Queens Center
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 600,000		600,000
Effective interest rate	3.49%
Monthly Debt Service	$ 1,744
Santa Monica Place
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 297,630		297,069
Effective interest rate	3.63%
Monthly Debt Service	$ 845
SanTan Village Regional Center
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 219,057		121,585
Effective interest rate	4.34%
Monthly Debt Service	$ 788
Towne Mall
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 20,399		20,733
Effective interest rate	4.48%
Monthly Debt Service	$ 117
Tucson La Encantada
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 64,108		65,361
Effective interest rate	4.23%
Monthly Debt Service	$ 368
Victor Valley, Mall of
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 114,719		114,675
Effective interest rate	4.00%
Monthly Debt Service	$ 380
Vintage Faire Mall
Mortgage loans payable on real estate
Carrying Amount of Mortgage Notes, Other	$ 253,869		$ 258,207
Effective interest rate	3.55%
Monthly Debt Service	$ 1,256

Mortgage Notes Payable - Footno

Mortgage Notes Payable - Footnotes (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2019	Jun. 27, 2019	Jun. 03, 2019	Jan. 10, 2019
Mortgage loans payable on real estate
Unamortized deferred finance costs	$ 12,202	$ 13,053
Chandler Fashion Center
Mortgage loans payable on real estate
New loan				$ 256,000
Effective interest rate	4.18%			4.18%
Fashion Outlets of Chicago
Mortgage loans payable on real estate
New loan						$ 300,000
Effective interest rate	4.61%
Green Acres Commons
Mortgage loans payable on real estate
Effective interest rate	4.81%	5.06%
SanTan Village Regional Center
Mortgage loans payable on real estate
Effective interest rate	4.34%
Kings Plaza Shopping Center | Subsequent event | Forecast
Mortgage loans payable on real estate
New loan			$ 555,000
Effective interest rate			3.67%
Loan term			10 years
Chandler Freehold
Mortgage loans payable on real estate
Percentage of loan assumed by third party	49.90%
Fashion Outlets of Niagara Falls USA
Mortgage loans payable on real estate
Debt premiums	$ 1,004	$ 1,701
Fashion Outlets of Chicago
Mortgage loans payable on real estate
Interest rate spread over basis		2.15%
Green Acres Commons
Mortgage loans payable on real estate
Interest rate spread over basis	2.15%
Santa Monica Place
Mortgage loans payable on real estate
Effective interest rate	3.63%	4.01%
Interest rate spread over basis	1.35%
Santa Monica Place | Maximum | Cap
Mortgage loans payable on real estate
Interest rate spread over basis	4.00%
SanTan Village Regional Center
Mortgage loans payable on real estate
New loan					$ 220,000

Mortgage Notes Payable - Narrat

Mortgage Notes Payable - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Interest expense capitalized	$ 2,704	$ 3,751	$ 7,557	$ 12,752
Fair value of mortgage notes payable	4,357,015		4,357,015		$ 4,082,448
Green Acres Commons
Debt Instrument [Line Items]
Recourse mortgage notes	$ 65,000		$ 65,000

Bank and Other Notes Payable (D

Bank and Other Notes Payable (Details)	Mar. 29, 2013USD ($)	Sep. 30, 2019USD ($)extension_periodderivative	Dec. 31, 2018USD ($)
Mortgage loans payable on real estate
Number of extension options | extension_period		1
Unamortized deferred finance costs		$ 12,202,000	$ 13,053,000
Availability for additional borrowing		$ 749,719,000	589,719,000
Swaps
Mortgage loans payable on real estate
Number of agreements | derivative		4
Swaps | Level 2 measurement
Mortgage loans payable on real estate
Outstanding borrowings under the line of credit		$ 400,000,000
Line of Credit
Mortgage loans payable on real estate
Outstanding borrowings under the line of credit		750,000,000	910,000,000
Unamortized deferred finance costs		$ 3,259,000	$ 5,145,000
Line of credit, average interest rate		4.03%	4.20%
Line of Credit | Level 2 measurement
Mortgage loans payable on real estate
Fair value of outstanding line of credit		$ 759,168,000	$ 912,163,000
Prasada Note
Mortgage loans payable on real estate
Amount of additional borrowing	$ 13,330,000
Interest rate on debt	5.25%
Debt, carrying value		3,028,000	3,689,000
Debt, fair value		$ 3,058,000	$ 3,690,000
LIBOR | Line of Credit
Mortgage loans payable on real estate
Interest rate spread over basis		1.45%
Revolving line of credit
Mortgage loans payable on real estate
Revolving line of credit		$ 1,500,000,000
Maximum contingent borrowing capacity		$ 2,000,000,000
Revolving line of credit | Line of Credit | Swaps
Mortgage loans payable on real estate
Effective interest rate		4.30%
Revolving line of credit | LIBOR | Low end of range
Mortgage loans payable on real estate
Interest rate spread over basis		1.30%
Revolving line of credit | LIBOR | High end of range
Mortgage loans payable on real estate
Interest rate spread over basis		1.90%

Financing Arrangement - Narrati

Financing Arrangement - Narrative (Details) ft² in Thousands, $ in Thousands	Jun. 27, 2019USD ($)	Sep. 30, 2009ft²	Sep. 30, 2019USD ($)$ / ft²	Sep. 30, 2018USD ($)	Dec. 31, 2018$ / ft²
Schedule of Joint Ventures [Line Items]
Terminal capitalization rate			5.00%		4.80%
Discount rate			6.00%		5.80%
Distributions, pro rata share of the excess loan proceeds | $	$ 27,945		$ 27,945	$ 0
Chandler Fashion Center
Schedule of Joint Ventures [Line Items]
Additional borrowing | $	$ 256,000
Financing Arrangement | Minimum
Schedule of Joint Ventures [Line Items]
Market rent per square foot | $ / ft²			35		35
Financing Arrangement | Maximum
Schedule of Joint Ventures [Line Items]
Market rent per square foot | $ / ft²			115		115
Financing Arrangement | Chandler Freehold
Schedule of Joint Ventures [Line Items]
Percentage of loan assumed by third party		49.90%
Financing Arrangement | Chandler Fashion Center
Schedule of Joint Ventures [Line Items]
Property area (in square feet) | ft²		1,318
Financing Arrangement | Freehold Raceway Mall
Schedule of Joint Ventures [Line Items]
Property area (in square feet) | ft²		1,673

Financing Arrangement - Financi

Financing Arrangement - Financing Arrangement Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule of Joint Ventures [Line Items]
Interest income (expense)	$ (36,059)	$ 1,074	$ (59,749)	$ 8,481
Joint Venture | Financing Arrangement
Schedule of Joint Ventures [Line Items]
Distributions of the partner's share of net income	1,278	2,111	5,157	6,577
Distributions in excess of the partner's share of net income	2,118	1,754	6,071	4,803
Adjustment to fair value of financing arrangement obligation	(39,455)	(4,893)	(70,977)	(9,279)
Interest income (expense)	$ (36,059)	$ (1,028)	$ (59,749)	$ 2,101

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Number of trading days used to calculate redemption value	10 days
Redemption value of outstanding OP Units not owned by the Company	$ 334,845	$ 448,116
The Macerich Partnership, L.P.
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership interest in operating partnership	93.00%
Limited partnership interest of the operating partnership	7.00%	7.00%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Sep. 30, 2019	Feb. 12, 2017
Stockholders' Equity Note [Abstract]
Authorized repurchase amount		$ 500,000,000
Remaining authorized repurchase amount	$ 278,707,000

Collaborative Agreement (Detail

Collaborative Agreement (Details) ft² in Thousands, $ in Thousands	Aug. 31, 2018USD ($)ft²	Aug. 31, 2018ft²	Mar. 01, 2018
Schedule of Equity Method Investments [Line Items]
Ownership percentage			25.00%
Outside partner interest of the operating partnership			75.00%
Proceeds from sale | $	$ 142,500
Reimbursement percent		75.00%
Westside Pavilion
Schedule of Equity Method Investments [Line Items]
Property area (in square feet) | ft²	680	680

Dispositions (Details)

Dispositions (Details) ft² in Thousands, $ in Thousands	Aug. 31, 2018USD ($)	May 17, 2018USD ($)ft²	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Discontinued Operations:
Proceeds from sale	$ 142,500
Loss on sale of assets			$ (131)	$ 46,516	$ (15,506)	$ (514)
Promenade at Casa Grande
Discontinued Operations:
Loss on sale of assets		$ (311)
Promenade at Casa Grande
Discontinued Operations:
Property area (in square feet) | ft²		761
Proceeds from sale		$ 26,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Sep. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Contingent liability under letters of credit	$ 100,814
Outstanding obligations under construction agreements	$ 12,277

Related Party Transactions - Sc

Related Party Transactions - Schedule of fees charged to unconsolidated joint ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Management fees
Related Party Transaction [Line Items]
Revenues	$ 9,978	$ 11,052	$ 29,277	$ 32,090
Unconsolidated Joint Ventures and Third Party Managed Properties
Related Party Transaction [Line Items]
Revenues	9,034	8,941	24,991	25,261
Unconsolidated Joint Ventures and Third Party Managed Properties | Management fees
Related Party Transaction [Line Items]
Revenues	4,746	4,971	13,897	14,366
Unconsolidated Joint Ventures and Third Party Managed Properties | Development and leasing fees
Related Party Transaction [Line Items]
Revenues	$ 4,288	$ 3,970	$ 11,094	$ 10,895

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Related party interest (income) expense	$ (36,059)	$ 1,074	$ (59,749)	$ 8,481
Due from affiliates	9,627		9,627		$ 85,181
Related parties note receivable, RED Consolidated Holdings, LLC
Related Party Transaction [Line Items]
Due from affiliates	$ 3,028		$ 3,028		$ 3,689
Note receivable, interest rate	5.25%		5.25%		5.25%
Interest income, related party	$ 44	55	$ 138	172
NML
Related Party Transaction [Line Items]
Interest expense, related party		2,102		6,380
Joint Venture | Financing Arrangement
Related Party Transaction [Line Items]
Related party interest (income) expense	(36,059)	(1,028)	(59,749)	2,101
Unconsolidated Joint Ventures
Related Party Transaction [Line Items]
Due from affiliates	$ 6,599		6,599		$ 6,385
Affiliated Entity | Notes Receivable | Fashion Outlets of San Francisco
Related Party Transaction [Line Items]
Interest income, related party		$ 808	$ 1,112	$ 2,330
Note receivable					$ 75,107
Affiliated Entity | Notes Receivable | Fashion Outlets of San Francisco | LIBOR
Related Party Transaction [Line Items]
Note receivable, interest rate					2.00%

Share and Unit-Based Plans - Na

Share and Unit-Based Plans - Narrative (Details) $ in Thousands	Sep. 01, 2019	Jan. 01, 2019	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capitalized share and unit-based compensation costs			$ 993	$ 1,062	$ 3,598	$ 5,575
Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion rate of shares					1
Unrecognized compensation cost of share and unit-based plans			3,657		$ 3,657
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion rate of shares					1
Unrecognized compensation cost of share and unit-based plans			4,159		$ 4,159
Market-indexed | 1/1/2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate		2.46%
Volatility		23.52%
Market-indexed | 9/1/2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.42%
Volatility	24.91%
Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost of share and unit-based plans			$ 351		$ 351

Share and Unit-Based Plans - LT

Share and Unit-Based Plans - LTIP units granted (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Service-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	343,431
1/1/2019 | Service-based | First vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	81,732
Fair value per LTIP unit (in dollars per share) | $ / shares	$ 43.28
1/1/2019 | Market-indexed | First vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	250,852
Fair value per LTIP unit (in dollars per share) | $ / shares	$ 29.25
9/1/2019 | Service-based | First vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	4,393
Fair value per LTIP unit (in dollars per share) | $ / shares	$ 28.53
9/1/2019 | Market-indexed | First vesting period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	6,454
Fair value per LTIP unit (in dollars per share) | $ / shares	$ 19.42

Share and Unit-Based Plans - No

Share and Unit-Based Plans - Nonvested equity awards (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
LTIP Units
Units
Balance at beginning of period (in shares) | shares	661,578
Granted (in shares) | shares	343,431
Vested (in shares) | shares	(7,654)
Forfeited (in shares) | shares	(14,635)
Balance at end of period (in shares) | shares	982,720
Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 48.38
Granted (in dollars per share) | $ / shares	32.40
Vested (in dollars per share) | $ / shares	59.85
Forfeited (in dollars per share) | $ / shares	34.26
Balance at end of period (in dollars per share) | $ / shares	$ 42.91
Phantom Stock Units
Units
Balance at beginning of period (in shares) | shares	0
Granted (in shares) | shares	21,580
Vested (in shares) | shares	(12,756)
Forfeited (in shares) | shares	0
Balance at end of period (in shares) | shares	8,824
Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	41.61
Vested (in dollars per share) | $ / shares	42.87
Forfeited (in dollars per share) | $ / shares	0
Balance at end of period (in dollars per share) | $ / shares	$ 39.79
Stock Units
Units
Balance at beginning of period (in shares) | shares	129,457
Granted (in shares) | shares	159,116
Vested (in shares) | shares	(83,341)
Forfeited (in shares) | shares	(5,245)
Balance at end of period (in shares) | shares	199,987
Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 64.21
Granted (in dollars per share) | $ / shares	37.57
Vested (in dollars per share) | $ / shares	63.63
Forfeited (in dollars per share) | $ / shares	51.48
Balance at end of period (in dollars per share) | $ / shares	$ 43.59

Share and Unit-Based Plans - SA

Share and Unit-Based Plans - SARs (Details) - Stock options	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Units
Balance at beginning of period (in shares) | shares	35,565
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Balance at end of period (in shares) | shares	35,565
Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 57.32
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Balance at end of period (in dollars per share) | $ / shares	$ 57.32

Share and Unit-Based Plans - Co

Share and Unit-Based Plans - Compensation cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost under share and unit-based plans	$ 3,315	$ 4,616	$ 13,353	$ 28,219
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost under share and unit-based plans	2,498	3,440	8,859	21,823
Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost under share and unit-based plans	632	972	3,836	5,717
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost under share and unit-based plans	0	32	51	94
Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost under share and unit-based plans	$ 185	$ 172	$ 607	$ 585

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current	$ (89)	$ 0	$ 83	$ 439
Deferred	(589)	(466)	(1,786)	1,360
Total income tax (expense) benefit	(678)	$ (466)	(1,703)	$ 1,799
Net deferred tax assets	$ 30,643		$ 30,643		$ 32,197

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event - USD ($) $ / shares in Units, $ in Millions	Oct. 24, 2019	Dec. 31, 2019
Subsequent events
Dividend declared (in dollars per share)	$ 0.75
Forecast | Kings Plaza Shopping Center
Subsequent events
New loan		$ 555
Loan term		10 years
Effective interest rate		3.67%

Uncategorized Items - mac-20190

Label	Element	Value
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (424,859,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,203,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(424,859,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,203,000)