The Macerich Company (MAC) 10-K26 Feb 242023 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2023	Feb. 22, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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 each class	Common Stock, $0.01 Par Value
Trading Symbol(s)	MAC
Name of each exchange on which registered	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 2.4
Entity Common Stock, Shares Outstanding		215,720,093
Documents Incorporated by Reference	Portions of the proxy statement for the annual stockholders meeting to be held in 2024 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000912242
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG LLP
Auditor Location	Los Angeles, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS:
Property, net	$ 5,900,489	$ 6,127,790
Cash and cash equivalents	94,936	100,320
Restricted cash	95,358	80,819
Tenant and other receivables, net	183,478	183,593
Right-of-use assets, net	118,664	126,606
Deferred charges and other assets, net	263,068	247,424
Investments in unconsolidated joint ventures	852,764	1,224,288
Total assets	7,513,512	8,094,139
LIABILITIES AND EQUITY:
Mortgage notes payable	4,136,136	4,240,596
Bank and other notes payable	89,548	163,117
Accounts payable and accrued expenses	64,194	63,107
Lease liabilities	83,989	94,911
Other accrued liabilities	334,742	318,745
Distributions in excess of investments in unconsolidated joint ventures	174,786	121,093
Financing arrangement obligation	102,516	143,221
Total liabilities	4,985,911	5,144,790
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 500,000,000 shares authorized at December 31, 2023 and 2022, 215,976,614 and 215,241,129 shares issued and outstanding at December 31, 2023 and 2022, respectively	2,158	2,151
Additional paid-in capital	5,509,603	5,506,084
Accumulated deficit	(3,063,789)	(2,643,094)
Accumulated other comprehensive (loss) income	(952)	632
Total stockholders' equity	2,447,020	2,865,773
Noncontrolling interests	80,581	83,576
Total equity	2,527,601	2,949,349
Total liabilities and equity	7,513,512	8,094,139
Related parties
ASSETS:
Due from affiliates	$ 4,755	$ 3,299

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Par value of common stock (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	215,976,614	215,241,129
Common stock, shares outstanding (in shares)	215,976,614	215,241,129

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Leasing revenue	$ 809,023	$ 800,548	$ 787,547
Total revenues	884,068	859,164	847,437
Expenses:
Leasing expense	36,423	32,670	24,838
REIT general and administrative expenses	29,238	27,164	30,056
Depreciation and amortization	282,361	291,612	311,129
Total expenses before interest	706,489	709,129	722,069
Interest (income) expense:
Related parties	172,920	216,851	192,679
(Gain) loss on extinguishment of debt	(8,208)	0	1,007
Total expenses	871,201	925,980	915,755
Equity in (loss) income of unconsolidated joint ventures	(156,937)	(5,256)	15,689
Income tax benefit (expense)	494	(705)	(6,948)
(Loss) gain on sale or write down of assets, net	(134,523)	7,698	75,740
Net (loss) income	(278,099)	(65,079)	16,163
Less net (loss) income attributable to noncontrolling interests	(4,034)	989	1,900
Net (loss) income attributable to the Company	$ (274,065)	$ (66,068)	$ 14,263
Earnings per common share attributable to common stockholders:
Basic (in dollars per share)	$ (1.28)	$ (0.31)	$ 0.07
Diluted (in dollars per share)	$ (1.28)	$ (0.31)	$ 0.07
Weighted average number of common shares outstanding:
Basic (in shares)	215,548	215,031	198,070
Diluted (in shares)	215,548	215,031	198,070
Related parties
Revenues:
Revenues	$ 27,345	$ 26,236	$ 23,830
Interest (income) expense:
Related parties	(24,206)	34,735	(3,718)
Other
Interest (income) expense:
Related parties	197,126	182,116	196,397
Other
Revenues:
Revenues	44,860	30,104	33,867
Management Companies
Revenues:
Revenues	30,185	28,512	26,023
Expenses:
Shopping center and operating expenses	70,060	67,799	61,030
Management Companies \| Related parties
Revenues:
Revenues	18,144	18,208	17,872
Shopping center and operating expenses
Expenses:
Shopping center and operating expenses	$ 288,407	$ 289,884	$ 295,016

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (278,099)	$ (65,079)	$ 16,163
Other comprehensive (loss) income:
Interest rate cap/swap agreements	(1,584)	656	8,184
Comprehensive (loss) income	(279,683)	(64,423)	24,347
Less net (loss) income attributable to noncontrolling interests	(4,034)	989	1,900
Comprehensive (loss) income attributable to the Company	$ (275,649)	$ (65,412)	$ 22,447

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 Income (Loss)	Noncontrolling Interests
Balance at the beginning at Dec. 31, 2020	$ 2,445,260	$ 2,257,049	$ 1,498	$ 4,603,378	$ (2,339,619)	$ (8,208)	$ 188,211
Balance at the beginning (in shares) at Dec. 31, 2020			149,770,575
Increase (Decrease) in Stockholders' Equity
Net (loss) income	16,163	14,263			14,263		1,900
Interest rate cap/swap agreements	8,184	8,184				8,184
Amortization of share and unit-based plans	17,998	17,998	$ 2	17,996
Amortization of share and unit-based plans (in shares)			248,264
Employee stock purchases	1,348	1,348	$ 1	1,347
Employee stock purchases (in shares)			143,191
Stock offerings, net	830,241	830,241	$ 620	829,621
Stock offerings, net (in shares)			62,049,131
Distributions declared	(118,340)	(118,340)			(118,340)
Distributions to noncontrolling interests	(25,107)						(25,107)
Contributions from noncontrolling interests	580						580
Conversion of noncontrolling interests to common shares	0	48,807	$ 26	48,781			(48,807)
Conversion of noncontrolling interests to common shares (in shares)			2,585,896
Redemption of noncontrolling interests	(178)	(17)		(17)			(161)
Adjustment of noncontrolling interests in Operating Partnership	0	(12,666)		(12,666)			12,666
Balance at the end at Dec. 31, 2021	3,176,149	3,046,867	$ 2,147	5,488,440	(2,443,696)	(24)	129,282
Balance at the end (in shares) at Dec. 31, 2021			214,797,057
Increase (Decrease) in Stockholders' Equity
Net (loss) income	(65,079)	(66,068)			(66,068)		989
Interest rate cap/swap agreements	656	656				656
Amortization of share and unit-based plans	22,119	22,119	$ 2	22,117
Amortization of share and unit-based plans (in shares)			218,771
Employee stock purchases	1,741	1,741	$ 2	1,739
Employee stock purchases (in shares)			179,723
Stock offerings, net	(183)	(183)		(183)
Distributions declared	(133,330)	(133,330)			(133,330)
Distributions to noncontrolling interests	(52,998)						(52,998)
Contributions from noncontrolling interests	602						602
Conversion of noncontrolling interests to common shares	0	2,700	$ 0	2,700			(2,700)
Conversion of noncontrolling interests to common shares (in shares)			45,578
Redemption of noncontrolling interests	(328)	177		177			(505)
Adjustment of noncontrolling interests in Operating Partnership	0	(8,906)		(8,906)			8,906
Balance at the end at Dec. 31, 2022	$ 2,949,349	2,865,773	$ 2,151	5,506,084	(2,643,094)	632	83,576
Balance at the end (in shares) at Dec. 31, 2022	215,241,129		215,241,129
Increase (Decrease) in Stockholders' Equity
Net (loss) income	$ (278,099)	(274,065)			(274,065)		(4,034)
Interest rate cap/swap agreements	(1,584)	(1,584)				(1,584)
Amortization of share and unit-based plans	16,065	16,065	$ 3	16,062
Amortization of share and unit-based plans (in shares)			325,229
Employee stock purchases	1,798	1,798	$ 2	1,796
Employee stock purchases (in shares)			226,766
Stock offerings, net	(583)	(583)		(583)
Distributions declared	(146,630)	(146,630)			(146,630)
Distributions to noncontrolling interests	(12,660)						(12,660)
Conversion of noncontrolling interests to common shares	0	5,429	$ 2	5,427			(5,429)
Conversion of noncontrolling interests to common shares (in shares)			183,490
Redemption of noncontrolling interests	(55)	39		39			(94)
Adjustment of noncontrolling interests in Operating Partnership	0	(19,222)		(19,222)			19,222
Balance at the end at Dec. 31, 2023	$ 2,527,601	$ 2,447,020	$ 2,158	$ 5,509,603	$ (3,063,789)	$ (952)	$ 80,581
Balance at the end (in shares) at Dec. 31, 2023	215,976,614		215,976,614

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared for common stock (in dollars per share)	$ 0.68	$ 0.62	$ 0.60

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (278,099)	$ (65,079)	$ 16,163
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
(Gain) loss on extinguishment of debt	(8,208)	0	1,007
Loss (gain) on sale or write down of assets, net	134,523	(7,698)	(75,740)
Depreciation and amortization	296,394	302,480	324,403
Amortization of share and unit-based plans	13,166	17,638	14,273
Straight-line rent and amortization of above and below market leases, net	522	(1,271)	(7,691)
Recovery of doubtful accounts	(2,699)	(656)	(6,390)
Income tax (benefit) expense	(494)	705	6,948
Equity in loss (income) of unconsolidated joint ventures	156,937	5,256	(15,689)
Change in fair value of financing arrangement obligation	(35,118)	24,233	(15,390)
Distributions of income from unconsolidated joint ventures	280	1,532	48
Changes in assets and liabilities, net of acquisitions and dispositions:
Tenant and other receivables	354	6,610	62,421
Other assets	6,100	(13,246)	14,876
Due (from) to affiliates	(1,456)	(3,626)	1,939
Accounts payable and accrued expenses	1,870	(382)	(6,746)
Other accrued liabilities	11,430	71,014	(28,064)
Net cash provided by operating activities	295,502	337,510	286,368
Cash flows from investing activities:
Acquisition of property	(46,687)	(24,544)	0
Development, redevelopment, expansion and renovation of properties	(77,941)	(42,153)	(77,686)
Property improvements	(74,562)	(52,640)	(30,521)
Proceeds from collection of notes receivable	3,500	0	1,300
Deferred leasing costs	(7,000)	(3,111)	(2,720)
Distributions from unconsolidated joint ventures	300,861	131,306	93,927
Contributions to unconsolidated joint ventures	(81,158)	(81,718)	(86,846)
Proceeds from collection of receivable in connection with sale of joint venture property	0	21,000	0
Proceeds from sale of assets	35,528	50,458	337,514
Net cash provided by (used in) investing activities	52,541	(1,402)	234,968
Cash flows from financing activities:
Proceeds from mortgages, bank and other notes payable	719,000	277,000	520,000
Payments on mortgages, bank and other notes payable	(863,258)	(406,075)	(2,020,395)
Deferred financing costs	(28,913)	(6,446)	(22,872)
Payment on finance arrangement obligation	(5,587)	0	0
Payments on finance leases	(2,000)	(1,923)	(1,849)
Proceeds from share and unit-based plans	1,798	1,741	1,348
(Costs) proceeds from stock offerings, net	(583)	(183)
(Costs) proceeds from stock offerings, net			830,241
Redemption of noncontrolling interests	(55)	(328)	(178)
Contributions from noncontrolling interests	0	602	128
Dividends and distributions	(159,290)	(186,328)	(143,447)
Net cash used in financing activities	(338,888)	(321,940)	(837,024)
Net increase (decrease) in cash, cash equivalents and restricted cash	9,155	14,168	(315,688)
Cash and cash equivalents and restricted cash at beginning of year	181,139	166,971	482,659
Cash and cash equivalents and restricted cash at end of year	190,294	181,139	166,971
Supplemental cash flow information:
Cash payments for interest, net of amounts capitalized	191,500	180,321	204,221
Non-cash investing and financing activities:
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities	48,191	35,334	18,279
Conversion of Operating Partnership Units to common stock	5,429	2,700	48,807
Receivable in connection with sale of joint venture property	0	0	21,000
Assets acquired from unconsolidated joint venture	$ 46,713	$ 23,554	$ 0

Organization

Organization	12 Months Ended
Organization	Dec. 31, 2023
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 December 31, 2023, the Company was the sole general partner of and held a 96% ownership interest in The Macerich Partnership, L.P. (the "Operating Partnership"). The Company was organized to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, Macerich Property Management Company, LLC, a single member Delaware limited liability company, Macerich Management Company, a California corporation, Macerich Arizona Partners LLC, a single member Arizona limited liability company, Macerich Arizona Management LLC, a single member Delaware limited liability company, Macerich Partners of Colorado LLC, a single member Colorado limited liability company, MACW Mall Management, Inc., a New York corporation, and MACW Property Management, LLC, a single member New York limited liability company. All seven of the management companies are owned by the Company and are collectively referred to herein as the "Management Companies."

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies: Basis of Presentation: These consolidated financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") in the United States of America. The accompanying consolidated financial statements include the accounts of the Company. Investments in entities in which the Company has a controlling financial interest or entities that meet the definition of a variable interest entity ("VIE") in accordance with Accounting Standards Codification ("ASC") 810, "Consolidation", in which the Company has, as a result of ownership, contractual or other financial interests, both the power to direct activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE are consolidated; otherwise they are accounted for under the equity method of accounting and are reflected as investments in unconsolidated joint ventures. 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 VIEs, including SanTan Village Regional Center. The Operating Partnership's VIEs included the following assets and liabilities: December 31, 2023(1) 2022 Assets: Property, net $ 128,673 $ 452,559 Other assets 22,277 93,102 Total assets $ 150,950 $ 545,661 Liabilities: Mortgage notes payable $ 219,506 $ 323,841 Other liabilities 78,794 135,340 Total liabilities $ 298,300 $ 459,181 Basis of Presentation: (Continued) (1) On December 9, 2023, the Company acquired its joint venture partner's 50.0% interest in Fashion District Philadelphia for no consideration, and the Company now owns 100% of this property. As a result, Fashion District Philadelphia is not included at December 31, 2023 (See Note 15–Acquisitions). All intercompany accounts and transactions have been eliminated in the consolidated financial statements. The following table presents a reconciliation of the beginning of period and end of period cash and cash equivalents and restricted cash reported on the Company's consolidated balance sheets to the totals shown on its consolidated statements of cash flows: 2023 2022 2021 Beginning of period Cash and cash equivalents $ 100,320 $ 112,454 $ 465,297 Restricted cash 80,819 54,517 17,362 Cash and cash equivalents and restricted cash $ 181,139 $ 166,971 $ 482,659 End of period Cash and cash equivalents $ 94,936 $ 100,320 $ 112,454 Restricted cash 95,358 80,819 54,517 Cash and cash equivalents and restricted cash $ 190,294 $ 181,139 $ 166,971 Cash and Cash Equivalents and Restricted Cash: The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents, for which cost approximates fair value. Restricted cash includes impounds of property taxes and other capital reserves required under loan and other agreements. Revenues: Leasing revenue includes minimum rents, percentage rents, tenant recoveries and other leasing income. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. The difference between the amount of rent due in a year and the amount recorded as rental income is referred to as the "straight-line rent adjustment." Minimum rents were (decreased) increased by $(4,624), $(777) and $5,873 due to the straight-line rent adjustment during the years ended December 31, 2023, 2022 and 2021, respectively. 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 Management Companies provide property management, leasing, corporate, development, redevelopment and acquisition services to affiliated and non-affiliated shopping centers. In consideration for these services, the Management Companies receive monthly management fees generally ranging from 1.5% to 4% of the gross monthly rental revenue of the properties managed. Property: Maintenance and repair expenses are charged to operations as incurred. Costs for major replacements and betterments, which includes HVAC equipment, roofs, parking lots, etc., are capitalized and depreciated over their estimated useful lives. Gains and losses are recognized upon disposal or retirement of the related assets and are reflected in earnings. Property is recorded at cost and is depreciated using a straight-line method over the estimated useful lives of the assets as follows: Buildings and improvements 5 - 40 years Tenant improvements 5 - 7 years Equipment and furnishings 5 - 7 years Capitalization of Costs: The Company capitalizes costs incurred in redevelopment, development, renovation and improvement of properties. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. These capitalized costs include direct and certain indirect costs clearly associated with the project. Indirect costs include real estate taxes, insurance and certain shared administrative costs. In assessing the amounts of direct and indirect costs to be capitalized, allocations are made to projects based on estimates of the actual amount of time spent on each activity. Indirect costs not clearly associated with specific projects are expensed as period costs. Capitalized indirect costs are allocated to development and redevelopment activities based on the square footage of the portion of the building not held available for immediate occupancy. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once work has been completed on a vacant space, project costs are no longer capitalized. For projects with extended lease-up periods, the Company ends the capitalization when significant activities have ceased, which does not exceed the shorter of a one-year period after the completion of the building shell or when the construction is substantially complete. Investment in Unconsolidated Joint Ventures: The Company accounts for its investments in joint ventures using the equity method of accounting unless the Company has a controlling financial interest in the joint venture or the joint venture meets the definition of a VIE in which the Company is the primary beneficiary through both its power to direct activities that most significantly impact the economic performance of the variable interest entity and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the variable interest entity. Although the Company has a greater than 50% interest in Corte Madera Village, LLC, Macerich HHF Centers LLC, New River Associates LLC and Pacific Premier Retail LLC, the Company does not have controlling financial interests in these joint ventures due to the substantive participation rights of the outside partners in these joint ventures and, therefore, accounts for its investments in these joint ventures using the equity method of accounting. Equity method investments are initially recorded on the balance sheet at cost and are subsequently adjusted to reflect the Company’s proportionate share of net earnings and losses, distributions received, additional contributions and certain other adjustments, as appropriate. The Company ceases recognizing its proportionate share of net losses when such losses reduce the investment to zero and the Company has no obligation to guarantee the joint venture’s obligations and is not otherwise committed to provide further financial support to the joint venture. The Company separately reports investments in joint ventures when accumulated distributions have exceeded the Company’s investment, as distributions in excess of investments in unconsolidated joint ventures. The net investment of certain joint ventures is less than zero because of financing or operating distributions that are usually greater than net income, as net income includes charges for depreciation and amortization. Acquisitions: Upon the acquisition of real estate properties, the Company evaluates whether the acquisition is a business combination or asset acquisition. For both business combinations and asset acquisitions, the Company allocates the purchase price of properties to acquired tangible assets and intangible assets and liabilities. For asset acquisitions, the Company capitalizes transaction costs and allocates the purchase price using a relative fair value method allocating all accumulated costs. For business combinations, the Company expenses transaction costs incurred and allocates purchase price based on the estimated fair value of each separately identified asset and liability. The Company allocates the estimated fair value of acquisitions to land, building, tenant improvements and identified intangible assets and liabilities, based on their estimated fair values. In addition, any assumed mortgage notes payable are recorded at their estimated fair values. The estimated fair value of the land and buildings is determined utilizing an “as if vacant” methodology. Tenant improvements represent the tangible assets associated with the existing leases valued on a fair value basis at the acquisition date prorated over the remaining lease terms. The tenant improvements are classified as an asset under property and are depreciated over the remaining lease terms. Identifiable intangible assets and liabilities relate to the value of in-place operating leases which come in three forms: (i) leasing commissions and legal costs, which represent the value associated with “cost avoidance” of acquiring in-place leases, such as lease commissions paid under terms generally experienced in the Company's markets; (ii) value of in-place leases, which represents the estimated loss of revenue and of costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased; and (iii) above or below-market value of in-place leases, which represents the difference between the contractual rents and market rents at the time of the acquisition, discounted for tenant credit risks. Leasing commissions and legal costs are recorded in deferred charges and other assets and are amortized over the remaining lease terms. The value of in-place leases is recorded in deferred charges and other assets and amortized over the remaining lease terms plus any below-market fixed rate renewal options. Above or below-market leases are classified in deferred charges and other assets or in other accrued liabilities, depending on whether the contractual terms are above or below-market, and the asset or liability is amortized to minimum rents over the remaining terms of the leases. The remaining lease terms of below-market leases may include certain below-market fixed-rate renewal periods. In considering whether or not a lessee will execute a below-market fixed-rate lease renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition such as tenant mix in the Center, the Company's relationship with the tenant and the availability of competing tenant space. Remeasurement gains and losses are recognized when the Company becomes the primary beneficiary of an existing equity method investment that is a VIE to the extent that the fair value of the existing equity investment exceeds the carrying value of the investment, and remeasurement losses to the extent the carrying value of the investment exceeds the fair value. The fair value is determined based on a discounted cash flow model, with the significant unobservable inputs including discount rate, terminal capitalization rate and market rents. Deferred Charges: Direct costs relating to obtaining tenant leases are deferred and amortized over the initial term of the lease agreement using the straight-line method. As these deferred leasing costs represent productive assets incurred in connection with the Company's leasing arrangements at the Centers, the related cash flows are classified as investing activities within the accompanying Consolidated Statements of Cash Flows. Costs relating to financing of shopping center properties are deferred and amortized over the life of the related loan using the straight-line method, which approximates the effective interest method. The range of the terms of the agreements is as follows: Deferred leasing costs 1 - 15 years Deferred financing costs 1 - 15 years Accounting for Impairment: The Company assesses whether an indicator of impairment in the value of its properties exists by considering expected future operating income, trends and prospects, as well as the effects of demand, competition and other economic factors. Such factors include projected rental revenue, operating costs and capital expenditures as well as capitalization rates and estimated holding periods. The Company generally holds and operates its properties long-term, which decreases the likelihood of their carrying values not being recoverable. Changes in events or changes in circumstances may alter the expected hold period of an asset or asset group, which may result in an impairment loss and such loss could be material to the Company's financial condition or operating performance. If the carrying value of the property exceeds the estimated undiscounted cash flows, an impairment loss is recognized equal to the excess of carrying value over its estimated fair value. Properties classified as held for sale are measured at the lower of the carrying amount or fair value less cost to sell. The estimated fair value of a property is typically determined through a discounted cash flow analysis or based upon a contracted sales price. The discounted cash flow method includes significant unobservable inputs including the discount rate, terminal capitalization rate and market rents. Cash flow projections and rates are subject to management’s judgment and changes in those assumptions could impact the estimation of fair value. The Company’s investments in unconsolidated joint ventures apply the same accounting model for property level impairment as described above. Further, the Company reviews its investments in unconsolidated joint ventures for a series of operating losses and other factors that may indicate that a decrease in the value of its investments has occurred which is other-than-temporary. The investment in each unconsolidated joint venture is evaluated periodically, and as deemed necessary, for recoverability and valuation declines that are other-than-temporary. The Company records any such impairment up to the extent of its investment. Share and Unit-based Compensation Plans: The cost of share and unit-based compensation awards is measured at the grant date based on the calculated fair value of the awards and is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the awards. Derivative Instruments and Hedging Activities: The Company recognizes all derivatives in the consolidated financial statements and measures the derivatives at fair value. The Company uses interest rate swap and cap agreements (collectively, "interest rate agreements") in the normal course of business to manage or reduce its exposure to adverse fluctuations in interest rates. The Company designs its hedges to be effective in reducing the risk exposure that they are designated to hedge. Any instrument that meets the cash flow hedging criteria is formally designated as a cash flow hedge at the inception of the derivative contract. On an ongoing quarterly basis, the Company adjusts its balance sheet to reflect the current fair value of its derivatives. To the extent they are effective, changes in fair value are recorded in comprehensive income. Amounts paid (received) as a result of interest rate agreements are recorded as an addition (reduction) to (of) interest expense. If any derivative instrument used for risk management does not meet the hedging criteria, it is marked-to-market each period with the change in value included in the consolidated statements of operations. Income Taxes: The Company elected to be taxed as a REIT under the Code commencing with its taxable year ended December 31, 1994. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it distribute at least 90% of its taxable income to its stockholders. It is management's current intention to adhere to these requirements and maintain the Company's REIT status. As a REIT, the Company generally will not be subject to corporate level federal income tax on taxable income it distributes currently to its stockholders. If the Company fails to qualify as a REIT in any taxable year, then it will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and property and to federal income and excise taxes on its undistributed taxable income, if any. Each partner is taxed individually on its share of partnership income or loss, and accordingly, no provision for federal and state income tax is provided for the Operating Partnership in the consolidated financial statements. 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. Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets and liabilities of the TRSs relate primarily to differences in the book and tax bases of property and to operating loss carryforwards for federal and state income tax purposes. A valuation allowance for deferred tax assets is provided if the Company believes it is more likely than not that all or some portion of the deferred tax assets will not be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods. Segment Information: The Company currently operates in one business segment, the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers. Additionally, the Company operates in one geographic area, the United States. Fair Value of Financial Instruments: The fair value hierarchy distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity's own assumptions about market participant assumptions. Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The Company calculates the fair value of financial instruments and includes this additional information in the notes to consolidated financial statements when the fair value is different than the carrying value of those financial instruments. When the fair value reasonably approximates the carrying value, no additional disclosure is made. The fair values of interest rate agreements are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates fell below or rose above the strike rate of the interest rate agreements. The variable interest rates used in the calculation of projected receipts on the interest rate agreements are based on an expectation of future interest rates derived from observable market interest rate curves and 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. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. The Company records its financing arrangement obligation at fair value on a recurring basis with changes in fair value being recorded as interest expense in the Company’s consolidated statements of operations. The fair value is determined based on a discounted cash flow model, with the significant unobservable inputs including the discount rate, terminal capitalization rate and market rents. 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. Concentration of Risk: The Company maintains its cash accounts in a number of commercial banks. Accounts at these banks are guaranteed by the Federal Deposit Insurance Corporation ("FDIC") up to $250. At various times during the year, the Company had deposits in excess of the FDIC insurance limit. No Center or tenant generated more than 10% of total revenues during the years ended December 31, 2023, 2022 or 2021, with the exception of one Center in New York which represents approximately 11% and 12% of the Company's consolidated revenues for the years ended December 31, 2023 and 2022, respectively. Management Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements: In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	12 Months Ended
Earnings Per Share ("EPS")	Dec. 31, 2023
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 earnings per share for the years ended December 31 (shares in thousands): 2023 2022 2021 Numerator Net (loss) income $ (278,099) $ (65,079) $ 16,163 Less: net (loss) income attributable to noncontrolling interests (4,034) 989 1,900 Net (loss) income attributable to the Company (274,065) (66,068) 14,263 Allocation of earnings to participating securities (870) (856) (853) Numerator for basic and diluted EPS—net (loss) income attributable to common stockholders $ (274,935) $ (66,924) $ 13,410 Denominator Denominator for basic and diluted EPS—weighted average number of common shares outstanding(1) 215,548 215,031 198,070 EPS—net (loss) income attributable to common stockholders: Basic and diluted $ (1.28) $ (0.31) $ 0.07 ____________________________________ (1) Diluted EPS excludes 99,565, 99,565 and 101,948 convertible preferred units for the years ended December 31, 2023, 2022 and 2021, respectively, as their impact was antidilutive. Diluted EPS excludes 8,952,452, 8,646,182 and 9,920,654 Operating Partnership units ("OP Units") for the years ended December 31, 2023, 2022 and 2021, respectively, as their effect was antidilutive.

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	12 Months Ended
Investments in Unconsolidated Joint Ventures	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures: The Company owns operating properties through various unconsolidated joint ventures with third parties. The Company's direct or indirect ownership interest in each joint venture as of December 31, 2023 was as follows: Joint Venture Ownership %(1) AM Tysons LLC 50.0 % Biltmore Shopping Center Partners LLC 50.0 % Corte Madera Village, LLC 50.1 % Country Club Plaza KC Partners LLC 50.0 % Kierland Commons Investment LLC 50.0 % Macerich HHF Broadway Plaza LLC—Broadway Plaza 50.0 % Macerich HHF Centers LLC—Various Properties 51.0 % New River Associates LLC—Arrowhead Towne Center 60.0 % Pacific Premier Retail LLC—Various Properties 60.0 % Propcor II Associates, LLC—Boulevard Shops 50.0 % PV Land SPE, LLC 5.0 % Scottsdale Fashion Square Partnership 50.0 % TM TRS Holding Company LLC 50.0 % Tysons Corner LLC 50.0 % Tysons Corner Hotel I LLC 50.0 % Tysons Corner Property Holdings II LLC 50.0 % Tysons Corner Property LLC 50.0 % West Acres Development, LLP 19.0 % WMAP, L.L.C.—Atlas Park, The Shops at 50.0 % _______________________________________________________________________________ (1) The Company's ownership interest in this table reflects its direct or indirect legal ownership interest. Legal ownership may, at times, not equal the Company’s economic interest in the listed entities because of various provisions in certain joint venture agreements regarding distributions of cash flow based on capital account balances, allocations of profits and losses and payments of preferred returns. As a result, the Company’s actual economic interest (as distinct from its legal ownership interest) in certain of the properties could fluctuate from time to time and may not wholly align with its legal ownership interests. Substantially all of the Company’s joint venture agreements contain rights of first refusal, buy-sell provisions, exit rights, default dilution remedies and/or other break up provisions or remedies which are customary in real estate joint venture agreements and which may, positively or negatively, affect the ultimate realization of cash flow and/or capital or liquidation proceeds. The Company has made the following investments, dispositions and financings in unconsolidated joint ventures during the years ended December 31, 2023, 2022 and 2021 and events subsequent to December 31, 2023: On March 29, 2021, concurrent with the sale of Paradise Valley Mall (see Note 16 – Dispositions), the Company elected to reinvest into the newly formed joint venture at a 5% ownership interest for $3,819 in cash that is accounted for under the equity method of accounting. On October 26, 2021, the Company's joint venture in The Shops at Atlas Park replaced the existing loan on the property with a new $65,000 loan that bears interest at a floating rate of LIBOR plus 4.15% (converted to SOFR plus 4.26% on April 7, 2023) and matures on November 9, 2026, including extension options. The loan is covered by an interest rate cap agreement that effectively prevents LIBOR/SOFR from exceeding 3.0% through November 7, 2023. The interest rate cap has since been extended and effectively prevents SOFR from exceeding 5.76% through November 7, 2024. On December 31, 2021, the Company assigned its joint venture interest in The Shops at North Bridge in Chicago, Illinois to its partner in the joint venture. The assignment included the assumption by the joint venture partner of the Company’s share of the debt owed by the joint venture and no cash consideration was received by the Company. The Company recognized a loss of approximately $28,276 in connection with the assignment. On December 31, 2021, the Company sold its joint venture interest in the undeveloped property at 443 North Wabash Avenue in Chicago, Illinois to its partner in the joint venture for $21,000. The Company recognized an immaterial gain in connection with the sale. On February 2, 2022, the Company’s joint venture in FlatIron Crossing replaced the existing $197,011 loan on the property with a new $175,000 loan that bears interest at SOFR plus 3.70% and matures on February 9, 2025. The loan is covered by an interest rate cap agreement that effectively prevents SOFR from exceeding 4.0% through February 15, 2024 and 5.0% through February 9, 2025. On August 2, 2022, the Company acquired the remaining 50% ownership interest in two former Sears parcels (Deptford Mall and Vintage Faire Mall) in MS Portfolio LLC, the Company's joint venture with Seritage Growth Properties ("Seritage"), for a total purchase price of approximately $24,544. As a result of this transaction and the shortening of holding periods on certain other assets in the joint venture, an impairment loss was recorded for the twelve months ending December 31, 2022. The Company's share of the impairment loss was $27,054. Effective as of August 2, 2022, the Company now owns and has consolidated its 100% interest in these two former Sears parcels in its consolidated financial statements (See Note 15 — Consolidated Joint Venture and Acquisitions). On November 14, 2022, the Company's joint venture in Washington Square closed on a four-year maturity date extension for the existing loan to November 1, 2026, including extension options. The Company's joint venture repaid $15,000 ($9,000 at the Company's pro rata share) of the outstanding loan balance at closing. The loan bears interest at SOFR plus 4.0% and is covered by an interest rate cap agreement that effectively prevents SOFR from exceeding 4.0% through November 1, 2024. On November 1, 2023, the Company's joint venture repaid an additional $15,000 ($9,000 at the Company's pro rata share) of the outstanding loan balance. On March 3, 2023, the Company’s joint venture in Scottsdale Fashion Square replaced the existing $403,931 mortgage loan on the property with a $700,000 loan that bears interest at a fixed rate of 6.21%, is interest only during the entire loan term and matures on March 6, 2028. On April 25, 2023, the Company's joint venture in Deptford Mall closed on a three-year maturity date extension for the existing loan to April 3, 2026, including extension options. The Company's joint venture repaid $10,000 ($5,100 at the Company's pro rata share) of the outstanding loan balance at closing. The interest rate on the loan remains unchanged at 3.73%. Effective May 9, 2023, the Company’s joint venture in Country Club Plaza defaulted on the $295,210 ($147,605 at the Company’s pro rata share) non-recourse loan on the property. The Company’s joint venture is in negotiations with the lender on the terms of this non-recourse loan. Accordingly, the joint venture shortened the holding period of the property due to the uncertainty as to the outcome of these discussions. As a result of shortening the holding period, the joint venture determined the fair value of the property was less than the carrying value and recorded an impairment loss during 2023. The Company recognized $100,997 as its share of the impairment which was limited to the extent of its investment which has been reduced to zero. On May 18, 2023, the Company acquired Seritage’s remaining 50% ownership interest in the MS Portfolio LLC joint venture that owns five former Sears parcels, for a total purchase price of $46,687. These parcels are located at Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center and Washington Square. As a result of this transaction and the shortening of holding periods, an impairment loss was recorded by the joint venture. The Company’s share of the impairment loss was $51,363. Effective as of May 18, 2023, the Company now owns and has consolidated its 100% interest in these five former Sears parcels in its consolidated financial statements (See Note 15—Acquisitions). On December 4, 2023, the Company's joint venture in Tysons Corner Center replaced the existing $666,465 mortgage loan on the property with a new $710,000 loan that bears interest at a fixed rate of 6.60%, is interest only during the entire loan term and matures on December 6, 2028. On December 27, 2023, the Company’s joint venture in One Westside sold the property, a 680,000 square foot office property in Los Angeles, California for $700,000. The existing $324,632 loan on the property was repaid, and $77,643 of net proceeds were generated at the Company’s 25% ownership share, which were used to reduce the Company’s revolving loan facility. As a result of this transaction, the Company recognized its share of gain on sale of assets of $8,118. On January 10, 2024, the Company's joint venture in Boulevard Shops replaced the existing $23,000 mortgage loan on the property with a new $24,000 loan that bears interest at a variable rate of SOFR plus 2.50%, is interest only during the entire loan term and matures on December 5, 2028. The new loan has a required interest rate cap throughout the term of the loan at a strike rate of 7.5%. 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 as of December 31: 2023 2022 Assets(1): Property, net $ 7,201,941 $ 8,156,632 Other assets 607,864 664,036 Total assets $ 7,809,805 $ 8,820,668 Liabilities and partners' capital(1): Mortgage and other notes payable $ 5,445,411 $ 5,491,250 Other liabilities 436,179 451,511 Company's capital 1,090,403 1,528,348 Outside partners' capital 837,812 1,349,559 Total liabilities and partners' capital $ 7,809,805 $ 8,820,668 Investment in unconsolidated joint ventures: Company's capital $ 1,090,403 $ 1,528,348 Basis adjustment(2) (412,425) (425,153) $ 677,978 $ 1,103,195 Assets—Investments in unconsolidated joint ventures 852,764 $ 1,224,288 Liabilities—Distributions in excess of investments in unconsolidated joint ventures (174,786) (121,093) $ 677,978 $ 1,103,195 _______________________________________________________________________________ (1) These amounts include the assets of $2,613,690 and $2,690,651 of Pacific Premier Retail LLC (the "PPR Portfolio") as of December 31, 2023 and 2022, respectively, and liabilities of $1,578,328 and $1,611,661 of the PPR Portfolio as of December 31, 2023 and 2022, 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 (loss) income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was $(14,316), $9,371 and $10,276 for the years ended December 31, 2023, 2022 and 2021, respectively. Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures: PPR Portfolio Other Total Year Ended December 31, 2023 Revenues: Leasing revenue $ 178,790 $ 690,013 $ 868,803 Other 2,295 21,628 23,923 Total revenues 181,085 711,641 892,726 Expenses: Shopping center and operating expenses 44,096 247,843 291,939 Leasing expense 1,709 4,960 6,669 Interest expense 87,586 197,840 285,426 Depreciation and amortization 89,629 250,005 339,634 Total operating expenses 223,020 700,648 923,668 Loss on sale or write down of assets, net — (192,336) (192,336) Net loss $ (41,935) $ (181,343) $ (223,278) Company's equity in net loss $ (16,517) $ (140,420) $ (156,937) Year Ended December 31, 2022 Revenues: Leasing revenue 183,620 668,523 852,143 Other 739 19,967 20,706 Total revenues 184,359 688,490 872,849 Expenses: Shopping center and operating expenses 41,904 232,213 274,117 Leasing expense 1,684 4,880 6,564 Interest expense 65,957 148,443 214,400 Depreciation and amortization 95,990 258,008 353,998 Total operating expenses 205,535 643,544 849,079 Loss on sale or write down of assets, net — (28,968) (28,968) Net (loss) income $ (21,176) $ 15,978 $ (5,198) Company's equity in net loss $ (3,501) $ (1,755) $ (5,256) PPR Portfolio Other Total Year Ended December 31, 2021 Revenues: Leasing revenue $ 168,842 $ 631,139 $ 799,981 Other 62 57,083 57,145 Total revenues 168,904 688,222 857,126 Expenses: Shopping center and operating expenses 40,298 246,692 286,990 Leasing expense 1,286 4,392 5,678 Interest expense 63,072 147,545 210,617 Depreciation and amortization 97,494 253,561 351,055 Total operating expenses 202,150 652,190 854,340 Loss on sale or write down of assets, net — (9,178) (9,178) Net (loss) income $ (33,246) $ 26,854 $ (6,392) Company's equity in net (loss) income $ (10,866) $ 26,555 $ 15,689 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	12 Months Ended
Derivative Instruments and Hedging Activities	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities: The Company uses interest rate cap agreements to manage the interest rate risk on certain floating rate debt. The Company recorded other comprehensive (loss) income related to the marking-to-market of derivative instruments of $(1,584), $656 and $8,184 during the years ended December 31, 2023, 2022 and 2021, respectively. The $1,584 in other comprehensive loss at December 31, 2023 and $632 of the $656 in other comprehensive income at December 31, 2022 is the Company's pro rata share of hedged derivative instruments from certain unconsolidated joint ventures. The following derivatives were outstanding at December 31, 2023 and December 31, 2022: Fair Value Property Designation Notional Amount Product SOFR/LIBOR Rate Maturity December 31, December 31, Santa Monica Place Non-Hedged $ 300,000 Cap 4.00 % 12/9/2024 $ 2,665 $ 2,576 The Macerich Partnership, L.P. Non-Hedged $ (300,000) Sold Cap 4.00 % 12/9/2024 $ (2,658) $ (2,567) The above derivatives were valued with an aggregate fair value (Level 2 measurement) and were included in other assets (other accrued liabilities). The fair value of the Company's interest rate derivatives were determined using discounted cash flow analysis on the expected cash flows of the derivatives. 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 falls 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 caps. As a result, the Company determined that its interest rate cap valuations in its entirety is classified in Level 2 of the fair value hierarchy.

Property, net

Property, net	12 Months Ended
Property, net	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, net	Property, net: Property, net at December 31, 2023 and 2022 consists of the following: 2023 2022 Land $ 1,388,345 $ 1,425,211 Buildings and improvements 6,171,027 6,378,736 Tenant improvements 747,246 711,007 Equipment and furnishings(1) 188,493 186,767 Construction in progress 340,496 218,859 8,835,607 8,920,580 Less accumulated depreciation(1) (2,935,118) (2,792,790) $ 5,900,489 $ 6,127,790 (1) Equipment and furnishings and accumulated depreciation include the cost and accumulated amortization of ROU assets in connection with finance leases at December 31, 2023 and 2022 (See Note 8—Leases). Depreciation expense for the years ended December 31, 2023, 2022 and 2021 was $265,140, $271,494 and $282,158, respectively. The (loss) gain on sale or write down of assets, net for the years ended December 31, 2023, 2022 and 2021 consist of the following: 2023 2022 2021 Property sales(1) $ 13,380 $ 386 $ 113,657 Write-down of assets(2) (153,495) (15,045) (67,344) Land sales 5,592 22,357 29,427 $ (134,523) $ 7,698 $ 75,740 _______________________________________________________________________________ (1) For the year ended December 31, 2023, includes gains related to the sale of The Marketplace at Flagstaff and Superstition Springs Power Center and includes gains related to the sale of La Encantada and Paradise Valley Mall during the year ended December 31, 2021 (See Note 16-Dispositions). (2) Includes impairment losses of $144,656 on Fashion Outlets of Niagara Falls and $7,880 on Towne Mall during the year ended December 31, 2023. Includes impairment loss of $5,471 relating to the Company's investment in MS Portfolio LLC (See Note 4—Investments in Unconsolidated Joint Ventures) and impairment loss of $5,140 on Towne Mall during the year ended December 31, 2022. Includes a loss of $28,276 in 2021 in connection with the assignment of the Company's partnership interest in The Shops at North Bridge (See Note 4—Investments in Unconsolidated Joint Ventures) and impairment loss of $27,281 on Estrella Falls during the year ended December 31, 2021. The impairment losses were due to the reduction of the estimated holding periods of the properties. The remaining amounts for the years ended December 31, 2023, 2022 and 2021 mainly pertain to 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 impairment charges recorded for the years ended December 31, 2023, 2022 and 2021 as described above: Years ended December 31, Total Fair Value Measurement Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) 2023 $ 63,200 $ — $ — $ 63,200 2022 $ 18,250 $ — $ — $ 18,250 2021 $ 4,720 $ — $ 4,720 $ —

Tenant and Other Receivables, n

Tenant and Other Receivables, net	12 Months Ended
Tenant and Other Receivables, net	Dec. 31, 2023
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 $4,824 and $10,741 at December 31, 2023 and 2022, respectively. Also included in tenant and other receivables, net are accrued percentage rents of $15,076 and $18,010 at December 31, 2023 and 2022, respectively, and a deferred rent receivable due to straight-line rent adjustments of $105,260 and $110,155 at December 31, 2023 and 2022, respectively.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2023
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. For leasing revenues in which collectability of substantially all of the rents is not considered probable, lease income is recognized on a cash basis and all previously recognized tenant accounts receivables, including straight-line rent, are fully reserved in the period in which the lease income is determined not to be probable of collection. The following table summarizes the components of leasing revenue for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Leasing revenue - fixed payments $ 570,869 $ 551,459 $ 529,227 Leasing revenue - variable payments 235,455 248,433 251,930 Recovery of doubtful accounts 2,699 656 6,390 $ 809,023 $ 800,548 $ 787,547 The following table summarizes the future rental payments to the Company: 2024 $ 483,136 2025 406,056 2026 332,250 2027 254,321 2028 197,629 Thereafter 685,240 $ 2,358,632 Lessee Leases: The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2078, 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 five finance leases that expire at various times through 2025. The following table summarizes the lease costs for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Operating lease costs $ 13,608 $ 15,133 $ 14,611 Finance lease costs: Amortization of ROU assets 1,366 1,930 1,917 Interest on lease liabilities 420 499 574 $ 15,394 $ 17,562 $ 17,102 The following table summarizes the future rental payments required under the leases as of December 31, 2023: Year ending Operating Finance Leases 2024 $ 11,442 $ 9,478 2025 11,626 1,400 2026 11,743 — 2027 11,914 — 2028 8,303 — Thereafter 74,831 — Total undiscounted rental payments 129,859 10,878 Less imputed interest (56,475) (273) Total lease liabilities $ 73,384 $ 10,605 The Company's weighted average remaining lease term of its operating and finance leases at December 31, 2023 was 24.1 years and 0.7 years, respectively. The Company's weighted average incremental borrowing rate of its operating and finance leases at December 31, 2023 was 7.1% and 3.6%, 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. For leasing revenues in which collectability of substantially all of the rents is not considered probable, lease income is recognized on a cash basis and all previously recognized tenant accounts receivables, including straight-line rent, are fully reserved in the period in which the lease income is determined not to be probable of collection. The following table summarizes the components of leasing revenue for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Leasing revenue - fixed payments $ 570,869 $ 551,459 $ 529,227 Leasing revenue - variable payments 235,455 248,433 251,930 Recovery of doubtful accounts 2,699 656 6,390 $ 809,023 $ 800,548 $ 787,547 The following table summarizes the future rental payments to the Company: 2024 $ 483,136 2025 406,056 2026 332,250 2027 254,321 2028 197,629 Thereafter 685,240 $ 2,358,632 Lessee Leases: The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2078, 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 five finance leases that expire at various times through 2025. The following table summarizes the lease costs for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Operating lease costs $ 13,608 $ 15,133 $ 14,611 Finance lease costs: Amortization of ROU assets 1,366 1,930 1,917 Interest on lease liabilities 420 499 574 $ 15,394 $ 17,562 $ 17,102 The following table summarizes the future rental payments required under the leases as of December 31, 2023: Year ending Operating Finance Leases 2024 $ 11,442 $ 9,478 2025 11,626 1,400 2026 11,743 — 2027 11,914 — 2028 8,303 — Thereafter 74,831 — Total undiscounted rental payments 129,859 10,878 Less imputed interest (56,475) (273) Total lease liabilities $ 73,384 $ 10,605 The Company's weighted average remaining lease term of its operating and finance leases at December 31, 2023 was 24.1 years and 0.7 years, respectively. The Company's weighted average incremental borrowing rate of its operating and finance leases at December 31, 2023 was 7.1% and 3.6%, respectively.

Deferred Charges and Other Asse

Deferred Charges and Other Assets, net	12 Months Ended
Deferred Charges and Other Assets, net	Dec. 31, 2023
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 at December 31, 2023 and 2022 consist of the following: 2023 2022 Leasing $ 89,175 $ 113,400 Intangible assets: In-place lease values(1) 59,478 63,961 Leasing commissions and legal costs(1) 16,364 17,299 Above-market leases 66,002 71,304 Deferred tax assets 24,024 23,114 Deferred compensation plan assets 62,755 54,353 Other assets 73,576 66,188 391,374 409,619 Less accumulated amortization(2) (128,306) (162,195) $ 263,068 $ 247,424 _______________________________ (1) The amortization of these intangible assets for the next five years and thereafter is as follows: Year Ending December 31, 2024 $ 6,817 2025 5,619 2026 4,935 2027 3,958 2028 3,297 Thereafter 11,676 $ 36,302 (2) Accumulated amortization includes $39,540 and $44,362 relating to in-place lease values, leasing commissions and legal costs at December 31, 2023 and 2022, respectively. Amortization expense for in-place lease values, leasing commissions and legal costs was $7,417, $6,734 and $11,233 for the years ended December 31, 2023, 2022 and 2021, respectively. The allocated values of above-market leases and below-market leases consist of the following: 2023 2022 Above-Market Leases Original allocated value $ 66,002 $ 71,304 Less accumulated amortization (36,926) (35,156) $ 29,076 $ 36,148 Below-Market Leases(1) Original allocated value $ 85,174 $ 97,026 Less accumulated amortization (37,490) (40,797) $ 47,684 $ 56,229 _______________________________ (1) Below-market leases are included in other accrued liabilities. The allocated values of above and below-market leases will be amortized into minimum rents on a straight-line basis over the individual remaining lease terms. The amortization of these values for the next five years and thereafter is as follows: Year Ending December 31, Above Below 2024 $ 5,308 $ 7,564 2025 3,911 6,055 2026 3,850 4,730 2027 3,141 4,420 2028 2,955 4,153 Thereafter 9,911 20,762 $ 29,076 $ 47,684

Mortgage Notes Payable

Mortgage Notes Payable	12 Months Ended
Mortgage Notes Payable	Dec. 31, 2023
Debt Disclosure [Abstract]
Mortgage Notes Payable	Mortgage Notes Payable: Mortgage notes payable at December 31, 2023 and 2022 consist of the following: Carrying Amounts of Mortgage Notes(1) Effective Interest Monthly Maturity Property Pledged as Collateral 2023 2022 Chandler Fashion Center(5) $ 255,924 $ 255,736 4.18 % $ 875 2024 Danbury Fair Mall(6) 122,502 148,207 8.51 % 1,773 2024 Fashion District Philadelphia(7) 70,820 104,427 9.50 % 528 2024 Fashion Outlets of Chicago 299,375 299,354 4.61 % 1,145 2031 Fashion Outlets of Niagara Falls USA(8) 86,470 90,514 6.45 % 727 2023 Freehold Raceway Mall(5) 399,044 398,878 3.94 % 1,300 2029 Fresno Fashion Fair 324,453 324,255 3.67 % 971 2026 Green Acres Commons(9) — 125,256 7.14 % — — Green Acres Mall(10) 359,264 237,372 6.62 % 1,819 2028 Kings Plaza Shopping Center 536,956 536,442 3.71 % 1,629 2030 Oaks, The(11) 151,496 165,934 5.74 % 1,038 2024 Pacific View 70,976 70,855 5.45 % 328 2032 Queens Center 600,000 600,000 3.49 % 1,744 2025 Santa Monica Place(12) 297,474 296,521 7.32 % 1,721 2025 SanTan Village Regional Center 219,506 219,414 4.34 % 788 2029 Towne Mall(13) — 18,886 4.48 % — — Victor Valley, Mall of 114,966 114,908 4.00 % 380 2024 Vintage Faire Mall 226,910 233,637 3.55 % 1,256 2026 $ 4,136,136 $ 4,240,596 (1) The mortgage notes payable balances 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 $21,148 and $13,830 at December 31, 2023 and 2022, 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). On November 16, 2023, the Company acquired the partner's 49.9% interest in Freehold Raceway Mall for $5.6 million and the assumption of the partner's share of debt. The Company now owns 100% of Freehold Raceway Mall (See Note 15—Acquisitions). (6) On July 1, 2022, the Company extended the loan maturity to July 1, 2023. The interest rate remained unchanged at 5.5%, and the Company repaid $10,000 of the outstanding loan balance at closing. On June 27, 2023, the Company further extended the loan maturity to July 1, 2024. The Company repaid $10,000 of the outstanding loan balance at closing and the amended interest rate was 7.5% as of July 1, 2023 and incrementally increased to 8.0% as of October 1, 2023, 8.5% as of January 1, 2024 and 9.0% as of April 1, 2024. On January 25, 2024, the Company replaced the existing loan with a $155,000 loan that bears interest at a fixed rate of 6.39%, is interest only during the majority of the loan term and matures on February 6, 2034. (7) On August 26, 2022 and November 28, 2022, the Company repaid $83,058 and $7,117, respectively, of the outstanding loan balance to satisfy certain loan conditions. On January 20, 2023, the Company repaid $26,107 of the outstanding loan balance and exercised its one-year extension option of the loan to January 22, 2024. The interest rate was SOFR plus 3.60%. On January 22, 2024, the Company repaid the majority of the loan balance. The remaining $8,171 matures on April 21, 2024. (8) Effective October 6, 2023, the loan is in default. The Company is in negotiations with the lender on the terms of this non-recourse loan. (9) On March 25, 2021, the Company closed on a two-year extension of the loan to March 29, 2023. The interest rate was LIBOR plus 2.75% and the Company repaid $4,680 of the outstanding loan balance at closing. On January 3, 2023, the Company closed on a five-year $370,000 combined refinance of Green Acres Mall and Green Acres Commons. The new interest only loan bears interest at a fixed rate of 5.90% and matures on January 6, 2028. (10) On January 22, 2021, the Company closed on a one-year extension of the loan to February 3, 2022, which also included a one-year extension option to February 3, 2023, which has been exercised. The interest rate remained unchanged, and the Company repaid $9,000 of the outstanding loan balance at closing. On January 3, 2023, the Company closed on a five-year $370,000 combined refinance of Green Acres Mall and Green Acres Commons. The new interest only loan bears interest at a fixed rate of 5.90% and matures on January 6, 2028. (11) On May 6, 2022, the Company closed on a two-year extension of the loan to June 5, 2024 at a new fixed interest rate of 5.25%. The Company repaid $5,000 of the outstanding loan balance at closing. On June 5, 2023, the Company repaid $10,000 of the outstanding loan balance. (12) On December 9, 2022, the Company closed on a three-year extension of the loan to December 9, 2025, including extension options. The interest rate remained unchanged at LIBOR plus 1.48%, and has converted to 1-month Term SOFR plus 1.52% effective July 9, 2023. The loan is covered by an interest rate cap agreement that effectively prevented LIBOR from exceeding 4.0% during the period ending December 9, 2023. The interest rate cap agreement was converted to 1-month Term SOFR effective July 9, 2023. The interest rate cap agreement has since been extended with a 4% strike rate to December 9, 2024. (13) The Company did not repay the loan on its maturity date and completed transition of the property to a receiver. The property was sold by the receiver on December 4, 2023 (See Note 16—Dispositions). Most of the mortgage loan agreements contain a prepayment penalty provision for the early extinguishment of the debt. As of December 31, 2023, all of the Company's mortgage notes payable are secured by the properties on which they are placed and are non-recourse to the Company. The Company expects 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 during the years ended December 31, 2023, 2022 and 2021 was $20,531, $10,471 and $9,504, respectively. The estimated fair value (Level 2 measurement) of mortgage notes payable at December 31, 2023 and 2022 was $3,863,997 and $3,894,588, 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. The future maturities of mortgage notes payable are as follows: Year Ending December 31, 2024 $ 810,679 2025 908,383 2026 538,780 2027 1,682 2028 378,336 Thereafter 1,519,424 4,157,284 Deferred finance cost, net (21,148) $ 4,136,136 The future maturities reflected above reflect the extension options that the Company believes will be exercised.

Bank and Other Notes Payable

Bank and Other Notes Payable	12 Months Ended
Bank and Other Notes Payable	Dec. 31, 2023
Debt Disclosure [Abstract]
Bank and Other Notes Payable	Bank and Other Notes Payable: Bank and other notes payable at December 31, 2023 and 2022 consist of the following: Credit Facility: Previously, the Company had a $525,000 revolving loan facility, which was scheduled to mature on April 14, 2024. On September 11, 2023, the Company and the Operating Partnership entered into an amended and restated credit agreement, which amends and restates their prior credit agreement, and provides for an aggregate $650,000 revolving loan facility that matures on February 1, 2027, with a one-year extension option. The revolving loan facility can be expanded up to $950,000, subject to receipt of lender commitments and other conditions. Concurrently with the entry into the amended and restated credit agreement, the Company drew $152,000 of the amount available under the revolving loan facility and used the proceeds to repay in full amounts outstanding under its prior credit facility. All obligations under the credit facility are guaranteed unconditionally by the Company and are secured in the form of mortgages on certain wholly-owned assets and pledges of equity interests held by certain of the Company’s subsidiaries. The new credit facility bears interest, at the Operating Partnership’s option, at either the base rate (as defined in the credit agreement) or adjusted term SOFR (as defined in the credit agreement) plus, in both cases, an applicable margin. The applicable margin depends on the Company’s overall leverage ratio and ranges from 1.00% to 2.50% over the selected index rate. Adjusted term SOFR is Term SOFR (as defined in the credit agreement) plus 0.10% per annum. As of December 31, 2023 and 2022, the borrowing rate was SOFR plus a spread of 2.35% and LIBOR plus a spread of 2.25%, respectively. As of December 31, 2023 and 2022, borrowings under the revolving loan facility were $105,000 and $171,000, respectively, less unamortized deferred finance costs of $15,452 and $7,883, respectively, at a total interest rate of 8.57% and 8.08%, respectively. As of December 31, 2023, the Company's availability under the revolving loan facility for additional borrowings was $544,787. The estimated fair value (Level 2 measurement) of borrowings under the credit facility at December 31, 2023 was $110,985 for the revolving loan facility based on a present value model using a credit interest rate spread offered to the Company for comparable debt. As of December 31, 2023 and 2022, the Company was in compliance with all applicable financial loan covenants.

Financing Arrangement

Financing Arrangement	12 Months Ended
Financing Arrangement	Dec. 31, 2023
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 1,402,000 square foot regional town center in Chandler, Arizona, and Freehold Raceway Mall, a 1,546,000 square foot regional town center in Freehold, New Jersey, referred to herein as Chandler Freehold. As a result of the Company having certain rights under the agreement to repurchase the assets 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. On November 16, 2023, the Company acquired the 49.9% ownership interest in Freehold Raceway Mall (See Note 15—Acquisitions). As a result, Freehold Raceway Mall is no longer part of the financing arrangement and is 100% owned by the Company. References to Chandler Freehold after November 16, 2023 shall be deemed to only refer to Chandler Fashion Center. In connection with the acquisition of the 49.9% ownership interest, the Company recorded the $5,587 purchase amount as a reduction to the financing arrangement obligation. The Company recognizes interest expense on (i) the changes in fair value of the financing arrangement obligation, (ii) any payments to the joint venture partner equal to their pro rata share of net income (loss) and (iii) any payments to the joint venture partner less than or in excess of their pro rata share of net income. During the years ended December 31, 2023, 2022 and 2021 the Company recognized related party interest (income) expense in connection with the financing arrangement as follows: 2023 2022 2021 Distributions of the partner's share of net income (loss) $ 2,105 $ 1,833 $ (2,763) Distributions in excess of the partner's share of net income 8,807 8,669 14,435 Adjustment to fair value of financing arrangement obligation (35,118) 24,233 (15,390) $ (24,206) $ 34,735 $ (3,718)

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
Noncontrolling Interests	Dec. 31, 2023
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 periodically to reflect its ownership interest in the Company. The Company had a 96% ownership interest in the Operating Partnership as of December 31, 2023 and 2022. The remaining 4% limited partnership interest as of December 31, 2023 and 2022 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 registered or unregistered 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 ten trading days ending on the respective balance sheet date. Accordingly, as of December 31, 2023 and 2022, the aggregate redemption value of the then-outstanding OP Units not owned by the Company was $158,157 and $103,023, respectively. The Company issued common and cumulative 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. Included in permanent equity are outside ownership interests in various consolidated joint ventures. The joint ventures do not have rights that require the Company to redeem the ownership interests in either cash or stock.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity: Stock Offerings: In connection with the commencement of separate “at the market” offering programs, on each of February 1, 2021 and March 26, 2021, which are referred to as the “February 2021 ATM Program” and the “March 2021 ATM Program,” respectively, and collectively as the “ATM Programs,” the Company entered into separate equity distribution agreements with certain sales agents pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $500,000 under each of the February 2021 ATM Program and the March 2021 ATM Program, or a total of $1,000,000 under the ATM Programs. During the twelve months ended December 31, 2021, the Company issued 62,049,131 shares of common stock under the ATM Programs for aggregate gross proceeds of $848,301 and net proceeds of $830,241 after commissions and other transaction costs. The proceeds from the sales under the ATM Programs were used to pay down the Company’s line of credit (See Note 11 – Bank and Other Notes Payable). As of December 31, 2023, $151,699 remained available to be sold under the March 2021 ATM Program. The February 2021 ATM Program was fully utilized as of June 30, 2021 and is no longer active. Actual future sales will depend upon a variety of factors including, but not limited to, market conditions, the trading price of the Company’s common stock and the Company’s capital needs. The Company has no obligation to sell the remaining shares available for sale under the ATM Programs. 14. Stockholders' Equity: (Continued) Stock Buyback Program: 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 accelerated share repurchase 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 "Stock Buyback Program".

Acquisitions

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions: Sears Deptford Mall and Vintage Faire Mall: On August 2, 2022, the Company acquired the remaining 50% ownership interest in two former Sears parcels (Deptford Mall and Vintage Faire Mall) in the MS Portfolio LLC joint venture that it did not previously own for a total purchase price of $24,544. Effective as of August 2, 2022, the Company now owns and has consolidated its 100% interest in these two former Sears parcels in its consolidated financial statements. The following is a summary of the allocation of the fair value of the former Sears parcels at Deptford Mall and Vintage Faire Mall upon their consolidation on August 2, 2022: Land $ 6,966 Building and improvements 32,934 Deferred charges 8,075 Other assets (above-market leases) 2,664 Other accrued liabilities (below-market lease) (2,541) Fair value of acquired net assets (at 100% ownership) $ 48,098 MS Portfolio LLC: On May 18, 2023, the Company acquired Seritage’s remaining 50% ownership interest in the MS Portfolio LLC joint venture that owns five former Sears parcels, for a total purchase price of $46,687. These parcels are located at Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center and Washington Square. Effective as of May 18, 2023, the Company now owns and has consolidated its 100% interest in these five former Sears parcels in its consolidated financial statements. The following is a summary of the allocation of the fair value of the former Sears parcels at Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center and Washington Square: Land $ 10,869 Building and improvements 39,359 Construction in progress 38,000 Deferred charges 6,821 Other accrued liabilities (below-market lease) (1,649) Fair value of acquired net assets (at 100% ownership) $ 93,400 15. Acquisitions: (Continued) Freehold Raceway Mall: On November 16, 2023, the Company acquired its joint venture partner’s 49.9% ownership interest in Freehold Raceway Mall for $5,587 and the assumption of its joint venture partner’s share of debt. The Company now owns 100% interest of this property. Prior to November 16, 2023, the Company accounted for its investment in Freehold Raceway Mall as part of a financing arrangement (See Note 12 – Financing Arrangement). Fashion District Philadelphia: On December 9, 2023, the Company acquired its joint venture partner’s 50% interest in Fashion District Philadelphia for no consideration, and the Company now owns 100% of this property. Prior to December 9, 2023, due to the Company’s joint venture partner having no substantive participation rights, the Company accounted for this joint venture as a VIE in its consolidated financial statements (See Note 2 – Summary of Significant Accounting Policies).

Dispositions

Dispositions	12 Months Ended
Dispositions	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Dispositions: On March 29, 2021, the Company sold Paradise Valley Mall in Phoenix, Arizona to a newly formed joint venture for $100,000 resulting in a gain on sale of assets and land of $5,563. Concurrent with the sale, the Company elected to reinvest into the new joint venture at a 5% ownership interest (see Note 4 – Investments in Unconsolidated Joint Ventures). The Company used the proceeds from the sale to pay down its line of credit and for other general corporate purposes. On September 17, 2021, the Company sold Tucson La Encantada in Tucson, Arizona for $165,250, resulting in a gain on sale of assets of approximately $117,242. The Company used the net cash proceeds of $100,142 to pay down debt. On May 2, 2023, the Company sold The Marketplace at Flagstaff, a 268,000 square foot power center in Flagstaff, Arizona, for $23,500, which resulted in a gain on sale of assets of $10,349. The Company used the net proceeds to pay down debt. On July 17, 2023, the Company sold Superstition Springs Power Center, a 204,000 square foot power center in Mesa, Arizona, for $5,634, which resulted in a gain on sale of assets of $1,903. The Company used the net proceeds to pay down debt. On December 4, 2023, Towne Mall was sold by the receiver for $9,500, resulting in a gain on extinguishment of debt of $8,208.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: As of December 31, 2023, the Company was contingently liable for $41,033 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 relevant agreement. At December 31, 2023, the Company had $8,351 in outstanding obligations, which it believes will be settled in the next twelve months.

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2023
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 years ended December 31: 2023 2022 2021 Management fees $ 18,144 $ 18,208 $ 17,872 Development and leasing fees 9,201 8,028 5,958 $ 27,345 $ 26,236 $ 23,830 Interest (income) expense from related party transactions also includes $(24,206), $34,735 and $(3,718) for the years ended December 31, 2023, 2022 and 2021, respectively, in connection with the Financing Arrangement (See Note 12—Financing Arrangement). Due from affiliates includes $4,755 and $3,299 of unreimbursed costs and fees from unconsolidated joint ventures under management agreements at December 31, 2023 and 2022, respectively.

Share and Unit-based Plans

Share and Unit-based Plans	12 Months Ended
Share and Unit-based Plans	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share and Unit-based Plans	Share and Unit-based Plans: The Company has established share and unit-based compensation plans for the purpose of attracting and retaining executive officers, directors and key employees. 2003 Equity Incentive Plan: The 2003 Equity Incentive Plan ("2003 Plan") authorizes the grant of stock awards, stock options, stock appreciation rights, stock units, stock bonuses, performance-based awards, dividend equivalent rights and OP Units or other convertible or exchangeable units. As of December 31, 2023, stock awards, stock units, LTIP Units (as defined below), stock appreciation rights ("SARs") and stock options have been granted under the 2003 Plan. All stock options or other rights to acquire common stock granted under the 2003 Plan have a term of 10 years or less. These awards were generally granted based on the performance of the Company and the employees. None of the awards have performance requirements other than a service condition of continued employment unless otherwise provided. All awards are subject to restrictions determined by the Company's compensation committee. The aggregate number of shares of common stock that may be issued under the 2003 Plan is 26,112,331 shares. As of December 31, 2023, there were 7,678,580 shares available for issuance under the 2003 Plan. Stock Units: The stock units represent the right to receive upon vesting one share of the Company's common stock for one stock unit. The value of the stock units was determined by the market price of the Company's common stock on the date of the grant. The following table summarizes the activity of non-vested stock units during the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Units Weighted Units Weighted Units Weighted Balance at beginning of year 295,054 $ 14.58 266,505 $ 19.05 309,845 $ 21.47 Granted 251,738 10.92 209,146 13.43 169,112 14.61 Vested (262,745) 14.08 (180,597) 19.84 (211,465) 19.03 Forfeited — — — — (987) 22.12 Balance at end of year 284,047 $ 11.79 295,054 $ 14.58 266,505 $ 19.05 19. Share and Unit-based Plans: (Continued) Long-Term Incentive Plan Units: Under the Long-Term Incentive Plan ("LTIP"), each award recipient is issued a form of operating partnership units ("LTIP Units") in the Operating Partnership or form of restricted stock units (together with the LTIP Units, the "LTI Units"). 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. LTI Units receive cash dividends based on the dividend amount paid on the common stock of the Company. The LTIP may include market-indexed awards, performance-based awards and service-based awards. The market-indexed LTI 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. The performance-based LTI Units vest over a specified period based on the Company's operational performance over that period. The fair value of the service-based LTI Units was determined by the market price of the Company's common stock on the date of the grant. The fair value of the market-indexed LTI Units and performance-based LTI Units are estimated on the date of grant using a Monte Carlo Simulation model. The stock price of the Company, along with the stock prices of the group of peer REITs (for market-indexed awards), is assumed to follow the Multivariate Geometric Brownian Motion Process. Multivariate Geometric Brownian Motion is a common assumption when modeling in financial markets, as it allows the modeled quantity (in this case, the stock price) to vary randomly from its current value and take any value greater than zero. The volatilities of the returns on the share price of the Company and the peer group REITs were estimated based on a look-back period. The expected growth rate of the stock prices over the "derived service period" is determined with consideration of the risk free rate as of the grant date. The Company has granted the following LTI units during the years ended December 31, 2023, 2022 and 2021: Grant Date Units Type Fair Value per LTI Unit Vest Date 1/1/2021 576,378 Service-based $ 10.67 12/31/2023 1/1/2021 1,005,073 Performance-based $ 9.85 12/31/2023 1,581,451 1/1/2022 376,153 Service-based $ 17.28 12/31/2024 1/1/2022 716,545 Performance-based $ 15.77 12/31/2024 1,092,698 1/1/2023 577,255 Service-based $ 11.26 12/31/2025 1/1/2023 1,030,077 Performance-based $ 10.97 12/31/2025 1,607,332 19. Share and Unit-based Plans: (Continued) The fair value of the market-indexed LTI Units and performance-based LTI Units (Level 3) were estimated on the date of grant using a Monte Carlo Simulation model that based on the following assumptions: Grant Date Risk Free Interest Rate Expected Volatility 1/1/2021 0.17 % 62.82 % 1/1/2022 0.97 % 70.83 % 1/1/2023 4.21 % 74.23 % The following table summarizes the activity of the non-vested LTI Units during the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Units Weighted Units Weighted Units Weighted Balance at beginning of year 2,215,167 $ 12.90 1,837,691 $ 14.14 784,052 $ 28.11 Granted 1,607,332 11.07 1,092,698 16.29 1,581,451 10.15 Vested (1,378,528) 10.94 (386,828) 15.86 (286,373) 17.62 Forfeited (187,124) 12.15 (328,394) 27.64 (241,439) 29.25 Balance at end of year 2,256,847 $ 12.86 2,215,167 $ 12.90 1,837,691 $ 14.14 Stock Options: The following table summarizes the activity of vested stock options for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Options Weighted Options Weighted Options Weighted Balance at beginning of year 26,371 $ 54.56 37,515 $ 54.34 37,515 $ 54.34 Granted — — — — — — Forfeited — $ — (11,144) 53.82 — — Balance at end of year 26,371 $ 54.56 26,371 $ 54.56 37,515 $ 54.34 19. Share and Unit-based Plans: (Continued) Directors' Phantom Stock Plan: The Directors' Phantom Stock Plan offers non-employee members of the board of directors ("Directors") the opportunity to defer their cash compensation and to receive that compensation in common stock rather than in cash after termination of service or a predetermined period. Compensation generally includes the annual retainers payable by the Company to the Directors. Deferred amounts are generally credited as units of phantom stock at the beginning of each three-year deferral period by dividing the present value of the deferred compensation by the average fair market value of the Company's common stock at the date of award. Compensation expense related to the phantom stock awards was determined by the amortization of the value of the stock units on a straight-line basis over the applicable service period. The stock units (including dividend equivalents) vest as the Directors' services (to which the fees relate) are rendered. Vested phantom stock units are ultimately paid out in common stock on a one-unit for one-share basis. To the extent elected by a Director, stock units receive dividend equivalents in the form of additional stock units based on the dividend amount paid on the common stock. The aggregate number of phantom stock units that may be granted under the Directors' Phantom Stock Plan is 650,000. As of December 31, 2023, there were 174,576 stock units available for grant under the Directors' Phantom Stock Plan. The following table summarizes the activity of the non-vested phantom stock units for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Stock Units Weighted Stock Units Weighted Stock Units Weighted Balance at beginning of year 34,039 $ 14.19 — $ — 4,662 $ 35.35 Granted 6,513 11.48 61,420 14.35 17,554 12.09 Vested (23,509) 13.44 (27,381) 14.55 (22,216) 16.97 Balance at end of year 17,043 $ 14.19 34,039 $ 14.19 — $ — Employee Stock Purchase Plan ("ESPP"): The ESPP authorizes eligible employees to purchase the Company's common stock through voluntary payroll deductions made during periodic offering periods. Under the ESPP, common stock is purchased at a 15% discount from the lesser of the fair value of common stock at the beginning and end of the offering period. A maximum of 1,291,117 shares of common stock is available for purchase under the ESPP. The number of shares available for future purchase under the plan at December 31, 2023 was 82,873. Compensation: The following summarizes the compensation cost under the share and unit-based plans for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Stock units $ 3,150 $ 3,110 $ 3,173 LTI units 12,599 18,611 14,448 Phantom stock units 316 398 377 $ 16,065 $ 22,119 $ 17,998 19. Share and Unit-based Plans: (Continued) The Company capitalized share and unit-based compensation costs of $2,899, $4,481 and $3,725 for the years ended December 31, 2023, 2022 and 2021, respectively. The fair value of the stock units that vested during the years ended December 31, 2023, 2022 and 2021 was $2,736, $2,349 and $3,408, respectively. Unrecognized compensation costs of share and unit-based plans at December 31, 2023 consisted of $3,087 from LTI Units and $1,858 from stock units.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans: 401(k) Plan: The Company has a defined contribution retirement plan that covers its eligible employees (the "Plan"). The Plan is a defined contribution retirement plan covering eligible employees of the Macerich Property Management Company, LLC and participating affiliates. This Plan includes The Macerich Company Common Stock Fund as a new investment alternative under the Plan with 650,000 shares of common stock reserved for issuance under the Plan. In accordance with the Plan, the Company makes matching contributions equal to 100 percent of the first three percent of compensation deferred by a participant and 50 percent of the next two percent of compensation deferred by a participant. During the years ended December 31, 2023, 2022 and 2021, these matching contributions made by the Company were $3,593, $3,206 and $3,144, respectively. Contributions and matching contributions to the Plan by the plan sponsor and/or participating affiliates are recognized as an expense of the Company in the period that they are made. Deferred Compensation Plans: The Company has established deferred compensation plans under which executives and key employees of the Company may elect to defer receiving a portion of their cash compensation otherwise payable in one calendar year until a later year. The Company may, as determined by the Board of Directors in its sole discretion prior to the beginning of the plan year, credit a participant's account with a matching amount equal to a percentage of the participant's deferral. The Company contributed $463, $429 and $325 to the plans during the years ended December 31, 2023, 2022 and 2021, respectively. Contributions are recognized as compensation in the periods they are made.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: For income tax purposes, distributions paid to common stockholders consist of ordinary income, capital gains, unrecaptured Section 1250 gain and return of capital or a combination thereof. The following table details the components of the distributions, on a per share basis, for the years ended December 31, 2023, 2022 and 2021: 2023(1) 2022(2) 2021(3) Ordinary income $ 0.36 53.0 % $ 0.49 79.2 % $ 0.04 6.0 % Capital gains 0.32 47.0 % 0.06 9.9 % 0.15 24.9 % Return of capital — — % 0.07 10.9 % 0.41 69.1 % Dividends paid $ 0.68 100.0 % $ 0.62 100.0 % $ 0.60 100.0 % _______________________________________________________________________________ (1) The 2023 ordinary income is treated as "qualified REIT dividends" for purposes of Section 199A of the Code and the 2023 capital gains are treated as "unrecaptured Section 1250 gains." (2) 54.5% of the 2022 ordinary income is treated as "qualified REIT dividends" for purposes of Section 199A of the Code and 45.5% of the 2022 ordinary income is treated as "qualified dividend income" for purposes of Section 1(h)(11) of the Code. (3) The 2021 ordinary income is treated as "qualified REIT dividends" for purposes of Section 199A of the Code. 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 income tax provision of the TRSs for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 Current $ — $ — $ — Deferred 494 (705) (6,948) Income tax benefit (expense) $ 494 $ (705) $ (6,948) The income tax provision of the TRSs for the years ended December 31, 2023, 2022 and 2021 are reconciled to the amount computed by applying the Federal Corporate tax rate as follows: 2023 2022 2021 Book loss (income) for TRSs $ 7,671 $ 2,718 $ (23,205) Tax at statutory rate on earnings from continuing operations before income taxes $ 1,611 $ 571 $ (4,873) State taxes 220 (116) (1,261) Other (1,337) (1,160) (814) Income tax benefit (expense) $ 494 $ (705) $ (6,948) The tax effects of temporary differences and carryforwards of the TRSs included in the net deferred tax assets at December 31, 2023 and 2022 are summarized as follows: 2023 2022 Net operating loss carryforwards $ 12,740 $ 13,362 Property, primarily differences in depreciation and amortization, the tax basis of land assets and treatment of certain other costs 10,396 9,019 Other 888 733 Net deferred tax assets $ 24,024 $ 23,114 The net operating loss ("NOL") carryforwards for NOLs generated through the 2017 tax year are scheduled to expire through 2037, beginning in 2031. Pursuant to the Tax Cuts and Jobs Act of 2017, NOLs generated in 2018 and subsequent tax years are carried forward indefinitely. The Coronavirus Aid, Relief and Economic Security Act removed the 80% of taxable income limitation, imposed by the Tax Cuts and Jobs Act, for NOLs generated in 2018, 2019 and 2020. For the years ended December 31, 2023, 2022 and 2021 there were no unrecognized tax benefits. The Company is required to establish a valuation allowance for any portion of the deferred tax asset that the Company concludes is more likely than not to be unrealizable. The Company’s assessment considers all evidence, both positive and negative, including the nature, frequency and severity of any current and cumulative losses, taxable income in carry back years, the scheduled reversal of deferred tax liabilities, tax planning strategies and projected future taxable income in making this assessment. As of December 31, 2023, the Company had no valuation allowance recorded. The tax years 2020 through 2022 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 12 months.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events: On February 2, 2024, the Company announced a dividend/distribution of $0.17 per share for common stockholders and OP Unit holders of record on February 16, 2024. All dividends/distributions will be paid 100% in cash on March 4, 2024.

Schedule III-Real Estate and Ac

Schedule III-Real Estate and Accumulated Depreciation	12 Months Ended
Schedule III-Real Estate and Accumulated Depreciation	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III-Real Estate and Accumulated Depreciation Disclosure	Initial Cost to Company Gross Amount at Which Carried at Close of Period Shopping Centers/Entities Land Building and Equipment Cost Capitalized Land Building and Equipment Construction Total Accumulated Total Cost Chandler Fashion Center $ 24,188 $ 223,143 $ — $ 34,766 $ 24,188 $ 250,937 $ 5,878 $ 1,094 $ 282,097 $ 146,946 $ 135,151 Danbury Fair Mall 130,367 316,951 — 128,748 141,479 399,159 9,649 25,779 576,066 198,641 377,425 Desert Sky Mall 9,447 37,245 12 5,754 6,843 41,975 3,634 6 52,458 18,750 33,708 Eastland Mall 22,050 151,605 — 15,873 20,810 166,229 2,489 — 189,528 60,637 128,891 Fashion District Philadelphia 38,402 293,112 — 12,284 39,962 300,480 470 2,886 343,798 28,608 315,190 Fashion Outlets of Chicago — — — 277,497 40,575 233,061 3,861 — 277,497 94,891 182,606 Fashion Outlets of Niagara Falls USA 18,581 210,139 — (39,201) 6,961 180,563 1,968 27 189,519 126,039 63,480 Freehold Raceway Mall 164,986 362,841 — 126,472 167,371 469,327 8,996 8,605 654,299 259,718 394,581 Fresno Fashion Fair 17,966 72,194 — 60,230 17,966 129,144 3,275 5 150,390 80,646 69,744 Green Acres Mall 156,640 321,034 — 229,555 175,551 480,437 12,398 38,843 707,229 183,180 524,049 Inland Center 8,321 83,550 — 38,240 10,291 119,261 532 27 130,111 46,687 83,424 Kings Plaza Shopping Center 209,041 485,548 20,000 294,507 209,041 731,664 65,661 2,730 1,009,096 243,250 765,846 La Cumbre Plaza 18,122 21,492 — 19,564 13,856 45,152 170 — 59,178 29,550 29,628 Macerich Management Co. 1,150 10,475 26,562 16,856 3,878 19,837 30,087 1,241 55,043 28,031 27,012 MACWH, LP — 25,771 — (759) — 25,012 — — 25,012 12,535 12,477 NorthPark Mall 7,746 74,661 — 5,400 6,939 80,089 760 19 87,807 37,837 49,970 Oaks, The 32,300 117,156 — 276,134 56,387 364,777 3,706 720 425,590 222,165 203,425 Pacific View 8,697 8,696 — 138,639 7,854 146,562 1,616 — 156,032 94,536 61,496 Prasada 6,615 — — 18,714 — 22,969 — 2,360 25,329 5,097 20,232 Queens Center 251,474 1,039,922 — 73,569 239,460 1,019,341 6,093 100,071 1,364,965 244,828 1,120,137 Santa Monica Place 26,400 105,600 — 333,744 43,763 342,375 6,272 73,334 465,744 145,652 320,092 SanTan Adjacent Land 29,414 — — 12,280 26,902 6,454 — 8,338 41,694 534 41,160 SanTan Village Regional Center 7,827 — — 229,920 5,921 225,403 2,089 4,334 237,747 129,383 108,364 SouthPark Mall 7,035 38,215 — (9,883) 2,763 32,158 446 — 35,367 19,783 15,584 Southridge Center 6,764 — — 6,824 1,842 11,569 154 23 13,588 8,086 5,502 Stonewood Center 4,948 302,527 — 16,421 4,935 317,895 1,066 — 323,896 87,780 236,116 Superstition Springs Center 10,928 112,718 — 14,350 10,928 124,688 2,380 — 137,996 40,488 97,508 The Macerich Partnership, L.P. — 2,534 — 6,915 — 1,722 7,365 362 9,449 2,552 6,897 Valley Mall 16,045 26,098 — 13,457 13,805 41,477 318 — 55,600 20,264 35,336 Valley River Center 24,854 147,715 — 37,862 24,854 183,362 2,088 127 210,431 92,127 118,304 Victor Valley, Mall of 15,700 75,230 — 58,904 20,080 127,854 1,900 — 149,834 73,378 76,456 Vintage Faire Mall 14,902 60,532 — 65,126 17,647 121,313 1,600 — 140,560 87,493 53,067 Wilton Mall 19,743 67,855 — (2,580) 11,310 72,158 1,278 272 85,018 51,172 33,846 Initial Cost to Company Gross Amount at Which Carried at Close of Period Shopping Centers/Entities Land Building and Equipment Cost Capitalized Land Building and Equipment Construction Total Accumulated Total Cost Other freestanding stores 47,083 111,936 — (3,388) 13,717 77,822 294 63,798 155,631 12,127 143,504 Other land and development properties 37,850 — — (25,842) 466 6,047 — 5,495 12,008 1,727 10,281 $ 1,395,586 $ 4,906,495 $ 46,574 $ 2,486,952 $ 1,388,345 $ 6,918,273 $ 188,493 $ 340,496 $ 8,835,607 $ 2,935,118 $ 5,900,489 Depreciation of the Company's investment in buildings and improvements reflected in the consolidated statements of operations are calculated over the estimated useful lives of the asset as follows: Buildings and improvements 5 - 40 years Tenant improvements 5 - 7 years Equipment and furnishings 5 - 7 years The changes in total real estate assets for the three years ended December 31, 2023 are as follows: 2023 2022 2021 Balances, beginning of year $ 8,920,580 $ 8,847,550 $ 9,256,712 Additions 257,160 156,445 100,616 Dispositions and retirements (342,133) (83,415) (509,778) Balances, end of year $ 8,835,607 $ 8,920,580 $ 8,847,550 The aggregate cost of the property included in the table above for federal income tax purposes was $9,080,781 (unaudited) at December 31, 2023. The changes in accumulated depreciation for the three years ended December 31, 2023 are as follows: 2023 2022 2021 Balances, beginning of year $ 2,792,790 $ 2,563,344 $ 2,562,133 Additions 265,140 271,494 282,158 Dispositions and retirements (122,812) (42,048) (280,947) Balances, end of year $ 2,935,118 $ 2,792,790 $ 2,563,344 See accompanying report of independent registered public accounting firm.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: These consolidated financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") in the United States of America.
Consolidation of VIE	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 VIEs, including SanTan Village Regional Center.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash: The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents, for which cost approximates fair value. Restricted cash includes impounds of property taxes and other capital reserves required under loan and other agreements.
Revenues	Revenues: Leasing revenue includes minimum rents, percentage rents, tenant recoveries and other leasing income. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. The difference between the amount of rent due in a year and the amount recorded as rental income is referred to as the "straight-line rent adjustment." Minimum rents were (decreased) increased by $(4,624), $(777) and $5,873 due to the straight-line rent adjustment during the years ended December 31, 2023, 2022 and 2021, respectively. 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.
Property	Property: Maintenance and repair expenses are charged to operations as incurred. Costs for major replacements and betterments, which includes HVAC equipment, roofs, parking lots, etc., are capitalized and depreciated over their estimated useful lives. Gains and losses are recognized upon disposal or retirement of the related assets and are reflected in earnings. Property is recorded at cost and is depreciated using a straight-line method over the estimated useful lives of the assets as follows: Buildings and improvements 5 - 40 years Tenant improvements 5 - 7 years Equipment and furnishings 5 - 7 years
Capitalization of Costs	Capitalization of Costs: The Company capitalizes costs incurred in redevelopment, development, renovation and improvement of properties. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. These capitalized costs include direct and certain indirect costs clearly associated with the project. Indirect costs include real estate taxes, insurance and certain shared administrative costs. In assessing the amounts of direct and indirect costs to be capitalized, allocations are made to projects based on estimates of the actual amount of time spent on each activity. Indirect costs not clearly associated with specific projects are expensed as period costs. Capitalized indirect costs are allocated to development and redevelopment activities based on the square footage of the portion of the building not held available for immediate occupancy. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once work has been completed on a vacant space, project costs are no longer capitalized. For projects with extended lease-up periods, the Company ends the capitalization when significant activities have ceased, which does not exceed the shorter of a one-year period after the completion of the building shell or when the construction is substantially complete.
Investment in Unconsolidated Joint Ventures	Investment in Unconsolidated Joint Ventures: The Company accounts for its investments in joint ventures using the equity method of accounting unless the Company has a controlling financial interest in the joint venture or the joint venture meets the definition of a VIE in which the Company is the primary beneficiary through both its power to direct activities that most significantly impact the economic performance of the variable interest entity and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the variable interest entity. Although the Company has a greater than 50% interest in Corte Madera Village, LLC, Macerich HHF Centers LLC, New River Associates LLC and Pacific Premier Retail LLC, the Company does not have controlling financial interests in these joint ventures due to the substantive participation rights of the outside partners in these joint ventures and, therefore, accounts for its investments in these joint ventures using the equity method of accounting. Equity method investments are initially recorded on the balance sheet at cost and are subsequently adjusted to reflect the Company’s proportionate share of net earnings and losses, distributions received, additional contributions and certain other adjustments, as appropriate. The Company ceases recognizing its proportionate share of net losses when such losses reduce the investment to zero and the Company has no obligation to guarantee the joint venture’s obligations and is not otherwise committed to provide further financial support to the joint venture. The Company separately reports investments in joint ventures when accumulated distributions have exceeded the Company’s investment, as distributions in excess of investments in unconsolidated joint ventures. The net investment of certain joint ventures is less than zero because of financing or operating distributions that are usually greater than net income, as net income includes charges for depreciation and amortization.
Acquisitions	Acquisitions: Upon the acquisition of real estate properties, the Company evaluates whether the acquisition is a business combination or asset acquisition. For both business combinations and asset acquisitions, the Company allocates the purchase price of properties to acquired tangible assets and intangible assets and liabilities. For asset acquisitions, the Company capitalizes transaction costs and allocates the purchase price using a relative fair value method allocating all accumulated costs. For business combinations, the Company expenses transaction costs incurred and allocates purchase price based on the estimated fair value of each separately identified asset and liability. The Company allocates the estimated fair value of acquisitions to land, building, tenant improvements and identified intangible assets and liabilities, based on their estimated fair values. In addition, any assumed mortgage notes payable are recorded at their estimated fair values. The estimated fair value of the land and buildings is determined utilizing an “as if vacant” methodology. Tenant improvements represent the tangible assets associated with the existing leases valued on a fair value basis at the acquisition date prorated over the remaining lease terms. The tenant improvements are classified as an asset under property and are depreciated over the remaining lease terms. Identifiable intangible assets and liabilities relate to the value of in-place operating leases which come in three forms: (i) leasing commissions and legal costs, which represent the value associated with “cost avoidance” of acquiring in-place leases, such as lease commissions paid under terms generally experienced in the Company's markets; (ii) value of in-place leases, which represents the estimated loss of revenue and of costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased; and (iii) above or below-market value of in-place leases, which represents the difference between the contractual rents and market rents at the time of the acquisition, discounted for tenant credit risks. Leasing commissions and legal costs are recorded in deferred charges and other assets and are amortized over the remaining lease terms. The value of in-place leases is recorded in deferred charges and other assets and amortized over the remaining lease terms plus any below-market fixed rate renewal options. Above or below-market leases are classified in deferred charges and other assets or in other accrued liabilities, depending on whether the contractual terms are above or below-market, and the asset or liability is amortized to minimum rents over the remaining terms of the leases. The remaining lease terms of below-market leases may include certain below-market fixed-rate renewal periods. In considering whether or not a lessee will execute a below-market fixed-rate lease renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition such as tenant mix in the Center, the Company's relationship with the tenant and the availability of competing tenant space. Remeasurement gains and losses are recognized when the Company becomes the primary beneficiary of an existing equity method investment that is a VIE to the extent that the fair value of the existing equity investment exceeds the carrying value of the investment, and remeasurement losses to the extent the carrying value of the investment exceeds the fair value. The fair value is determined based on a discounted cash flow model, with the significant unobservable inputs including discount rate, terminal capitalization rate and market rents.
Deferred Charges	Deferred Charges: Direct costs relating to obtaining tenant leases are deferred and amortized over the initial term of the lease agreement using the straight-line method. As these deferred leasing costs represent productive assets incurred in connection with the Company's leasing arrangements at the Centers, the related cash flows are classified as investing activities within the accompanying Consolidated Statements of Cash Flows. Costs relating to financing of shopping center properties are deferred and amortized over the life of the related loan using the straight-line method, which approximates the effective interest method. The range of the terms of the agreements is as follows: Deferred leasing costs 1 - 15 years Deferred financing costs 1 - 15 years
Accounting for Impairment	Accounting for Impairment: The Company assesses whether an indicator of impairment in the value of its properties exists by considering expected future operating income, trends and prospects, as well as the effects of demand, competition and other economic factors. Such factors include projected rental revenue, operating costs and capital expenditures as well as capitalization rates and estimated holding periods. The Company generally holds and operates its properties long-term, which decreases the likelihood of their carrying values not being recoverable. Changes in events or changes in circumstances may alter the expected hold period of an asset or asset group, which may result in an impairment loss and such loss could be material to the Company's financial condition or operating performance. If the carrying value of the property exceeds the estimated undiscounted cash flows, an impairment loss is recognized equal to the excess of carrying value over its estimated fair value. Properties classified as held for sale are measured at the lower of the carrying amount or fair value less cost to sell. The estimated fair value of a property is typically determined through a discounted cash flow analysis or based upon a contracted sales price. The discounted cash flow method includes significant unobservable inputs including the discount rate, terminal capitalization rate and market rents. Cash flow projections and rates are subject to management’s judgment and changes in those assumptions could impact the estimation of fair value. The Company’s investments in unconsolidated joint ventures apply the same accounting model for property level impairment as described above. Further, the Company reviews its investments in unconsolidated joint ventures for a series of operating losses and other factors that may indicate that a decrease in the value of its investments has occurred which is other-than-temporary. The investment in each unconsolidated joint venture is evaluated periodically, and as deemed necessary, for recoverability and valuation declines that are other-than-temporary. The Company records any such impairment up to the extent of its investment.
Share and Unit-based Compensation Plans	Share and Unit-based Compensation Plans:
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities: The Company recognizes all derivatives in the consolidated financial statements and measures the derivatives at fair value. The Company uses interest rate swap and cap agreements (collectively, "interest rate agreements") in the normal course of business to manage or reduce its exposure to adverse fluctuations in interest rates. The Company designs its hedges to be effective in reducing the risk exposure that they are designated to hedge. Any instrument that meets the cash flow hedging criteria is formally designated as a cash flow hedge at the inception of the derivative contract. On an ongoing quarterly basis, the Company adjusts its balance sheet to reflect the current fair value of its derivatives. To the extent they are effective, changes in fair value are recorded in comprehensive income. Amounts paid (received) as a result of interest rate agreements are recorded as an addition (reduction) to (of) interest expense. If any derivative instrument used for risk management does not meet the hedging criteria, it is marked-to-market each period with the change in value included in the consolidated statements of operations.
Income Taxes	Income Taxes: The Company elected to be taxed as a REIT under the Code commencing with its taxable year ended December 31, 1994. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it distribute at least 90% of its taxable income to its stockholders. It is management's current intention to adhere to these requirements and maintain the Company's REIT status. As a REIT, the Company generally will not be subject to corporate level federal income tax on taxable income it distributes currently to its stockholders. If the Company fails to qualify as a REIT in any taxable year, then it will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and property and to federal income and excise taxes on its undistributed taxable income, if any. Each partner is taxed individually on its share of partnership income or loss, and accordingly, no provision for federal and state income tax is provided for the Operating Partnership in the consolidated financial statements. 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. Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets and liabilities of the TRSs relate primarily to differences in the book and tax bases of property and to operating loss carryforwards for federal and state income tax purposes. A valuation allowance for deferred tax assets is provided if the Company believes it is more likely than not that all or some portion of the deferred tax assets will not be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods.
Segment Information	Segment Information: The Company currently operates in one business segment, the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers. Additionally, the Company operates in one geographic area, the United States.
Fair Value of Financial Instruments	Fair Value of Financial Instruments: The fair value hierarchy distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity's own assumptions about market participant assumptions. Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The Company calculates the fair value of financial instruments and includes this additional information in the notes to consolidated financial statements when the fair value is different than the carrying value of those financial instruments. When the fair value reasonably approximates the carrying value, no additional disclosure is made. The fair values of interest rate agreements are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates fell below or rose above the strike rate of the interest rate agreements. The variable interest rates used in the calculation of projected receipts on the interest rate agreements are based on an expectation of future interest rates derived from observable market interest rate curves and 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. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees.
Concentration of Risk	Concentration of Risk: The Company maintains its cash accounts in a number of commercial banks. Accounts at these banks are guaranteed by the Federal Deposit Insurance Corporation ("FDIC") up to $250. At various times during the year, the Company had deposits in excess of the FDIC insurance limit.
Management Estimates	Management Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements: In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Operating Partnership's VIEs	The Operating Partnership's VIEs included the following assets and liabilities: December 31, 2023(1) 2022 Assets: Property, net $ 128,673 $ 452,559 Other assets 22,277 93,102 Total assets $ 150,950 $ 545,661 Liabilities: Mortgage notes payable $ 219,506 $ 323,841 Other liabilities 78,794 135,340 Total liabilities $ 298,300 $ 459,181 Basis of Presentation: (Continued) (1)
Schedule of Cash and Cash Equivalents	The following table presents a reconciliation of the beginning of period and end of period cash and cash equivalents and restricted cash reported on the Company's consolidated balance sheets to the totals shown on its consolidated statements of cash flows: 2023 2022 2021 Beginning of period Cash and cash equivalents $ 100,320 $ 112,454 $ 465,297 Restricted cash 80,819 54,517 17,362 Cash and cash equivalents and restricted cash $ 181,139 $ 166,971 $ 482,659 End of period Cash and cash equivalents $ 94,936 $ 100,320 $ 112,454 Restricted cash 95,358 80,819 54,517 Cash and cash equivalents and restricted cash $ 190,294 $ 181,139 $ 166,971
Schedule of Restricted Cash	The following table presents a reconciliation of the beginning of period and end of period cash and cash equivalents and restricted cash reported on the Company's consolidated balance sheets to the totals shown on its consolidated statements of cash flows: 2023 2022 2021 Beginning of period Cash and cash equivalents $ 100,320 $ 112,454 $ 465,297 Restricted cash 80,819 54,517 17,362 Cash and cash equivalents and restricted cash $ 181,139 $ 166,971 $ 482,659 End of period Cash and cash equivalents $ 94,936 $ 100,320 $ 112,454 Restricted cash 95,358 80,819 54,517 Cash and cash equivalents and restricted cash $ 190,294 $ 181,139 $ 166,971
Schedule of Real Estate Properties	Property is recorded at cost and is depreciated using a straight-line method over the estimated useful lives of the assets as follows: Buildings and improvements 5 - 40 years Tenant improvements 5 - 7 years Equipment and furnishings 5 - 7 years Property, net at December 31, 2023 and 2022 consists of the following: 2023 2022 Land $ 1,388,345 $ 1,425,211 Buildings and improvements 6,171,027 6,378,736 Tenant improvements 747,246 711,007 Equipment and furnishings(1) 188,493 186,767 Construction in progress 340,496 218,859 8,835,607 8,920,580 Less accumulated depreciation(1) (2,935,118) (2,792,790) $ 5,900,489 $ 6,127,790 (1)
Schedule of Range of the Terms of Loan and Lease Agreements	The range of the terms of the agreements is as follows: Deferred leasing costs 1 - 15 years Deferred financing costs 1 - 15 years

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	12 Months Ended
Earnings Per Share ("EPS") (Tables)	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of 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 earnings per share for the years ended December 31 (shares in thousands): 2023 2022 2021 Numerator Net (loss) income $ (278,099) $ (65,079) $ 16,163 Less: net (loss) income attributable to noncontrolling interests (4,034) 989 1,900 Net (loss) income attributable to the Company (274,065) (66,068) 14,263 Allocation of earnings to participating securities (870) (856) (853) Numerator for basic and diluted EPS—net (loss) income attributable to common stockholders $ (274,935) $ (66,924) $ 13,410 Denominator Denominator for basic and diluted EPS—weighted average number of common shares outstanding(1) 215,548 215,031 198,070 EPS—net (loss) income attributable to common stockholders: Basic and diluted $ (1.28) $ (0.31) $ 0.07 ____________________________________ (1) Diluted EPS excludes 99,565, 99,565 and 101,948 convertible preferred units for the years ended December 31, 2023, 2022 and 2021, respectively, as their impact was antidilutive. Diluted EPS excludes 8,952,452, 8,646,182 and 9,920,654 Operating Partnership units ("OP Units") for the years ended December 31, 2023, 2022 and 2021, respectively, as their effect was antidilutive.

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
Investments in Unconsolidated Joint Ventures (Tables)	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Ownership Interest in Joint Ventures	The Company owns operating properties through various unconsolidated joint ventures with third parties. The Company's direct or indirect ownership interest in each joint venture as of December 31, 2023 was as follows: Joint Venture Ownership %(1) AM Tysons LLC 50.0 % Biltmore Shopping Center Partners LLC 50.0 % Corte Madera Village, LLC 50.1 % Country Club Plaza KC Partners LLC 50.0 % Kierland Commons Investment LLC 50.0 % Macerich HHF Broadway Plaza LLC—Broadway Plaza 50.0 % Macerich HHF Centers LLC—Various Properties 51.0 % New River Associates LLC—Arrowhead Towne Center 60.0 % Pacific Premier Retail LLC—Various Properties 60.0 % Propcor II Associates, LLC—Boulevard Shops 50.0 % PV Land SPE, LLC 5.0 % Scottsdale Fashion Square Partnership 50.0 % TM TRS Holding Company LLC 50.0 % Tysons Corner LLC 50.0 % Tysons Corner Hotel I LLC 50.0 % Tysons Corner Property Holdings II LLC 50.0 % Tysons Corner Property LLC 50.0 % West Acres Development, LLP 19.0 % WMAP, L.L.C.—Atlas Park, The Shops at 50.0 % _______________________________________________________________________________ (1) The Company's ownership interest in this table reflects its direct or indirect legal ownership interest. Legal ownership may, at times, not equal the Company’s economic interest in the listed entities because of various provisions in certain joint venture agreements regarding distributions of cash flow based on capital account balances, allocations of profits and losses and payments of preferred returns. As a result, the Company’s actual economic interest (as distinct from its legal ownership interest) in certain of the properties could fluctuate from time to time and may not wholly align with its legal ownership interests. Substantially all of the Company’s joint venture agreements contain rights of first refusal, buy-sell provisions, exit rights, default dilution remedies and/or other break up provisions or remedies which are customary in real estate joint venture agreements and which may, positively or negatively, affect the ultimate realization of cash flow and/or capital or liquidation proceeds.
Schedule of Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures and Other Related Information	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 as of December 31: 2023 2022 Assets(1): Property, net $ 7,201,941 $ 8,156,632 Other assets 607,864 664,036 Total assets $ 7,809,805 $ 8,820,668 Liabilities and partners' capital(1): Mortgage and other notes payable $ 5,445,411 $ 5,491,250 Other liabilities 436,179 451,511 Company's capital 1,090,403 1,528,348 Outside partners' capital 837,812 1,349,559 Total liabilities and partners' capital $ 7,809,805 $ 8,820,668 Investment in unconsolidated joint ventures: Company's capital $ 1,090,403 $ 1,528,348 Basis adjustment(2) (412,425) (425,153) $ 677,978 $ 1,103,195 Assets—Investments in unconsolidated joint ventures 852,764 $ 1,224,288 Liabilities—Distributions in excess of investments in unconsolidated joint ventures (174,786) (121,093) $ 677,978 $ 1,103,195 _______________________________________________________________________________ (1) These amounts include the assets of $2,613,690 and $2,690,651 of Pacific Premier Retail LLC (the "PPR Portfolio") as of December 31, 2023 and 2022, respectively, and liabilities of $1,578,328 and $1,611,661 of the PPR Portfolio as of December 31, 2023 and 2022, respectively. (2)
Schedule of Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures	Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures: PPR Portfolio Other Total Year Ended December 31, 2023 Revenues: Leasing revenue $ 178,790 $ 690,013 $ 868,803 Other 2,295 21,628 23,923 Total revenues 181,085 711,641 892,726 Expenses: Shopping center and operating expenses 44,096 247,843 291,939 Leasing expense 1,709 4,960 6,669 Interest expense 87,586 197,840 285,426 Depreciation and amortization 89,629 250,005 339,634 Total operating expenses 223,020 700,648 923,668 Loss on sale or write down of assets, net — (192,336) (192,336) Net loss $ (41,935) $ (181,343) $ (223,278) Company's equity in net loss $ (16,517) $ (140,420) $ (156,937) Year Ended December 31, 2022 Revenues: Leasing revenue 183,620 668,523 852,143 Other 739 19,967 20,706 Total revenues 184,359 688,490 872,849 Expenses: Shopping center and operating expenses 41,904 232,213 274,117 Leasing expense 1,684 4,880 6,564 Interest expense 65,957 148,443 214,400 Depreciation and amortization 95,990 258,008 353,998 Total operating expenses 205,535 643,544 849,079 Loss on sale or write down of assets, net — (28,968) (28,968) Net (loss) income $ (21,176) $ 15,978 $ (5,198) Company's equity in net loss $ (3,501) $ (1,755) $ (5,256) PPR Portfolio Other Total Year Ended December 31, 2021 Revenues: Leasing revenue $ 168,842 $ 631,139 $ 799,981 Other 62 57,083 57,145 Total revenues 168,904 688,222 857,126 Expenses: Shopping center and operating expenses 40,298 246,692 286,990 Leasing expense 1,286 4,392 5,678 Interest expense 63,072 147,545 210,617 Depreciation and amortization 97,494 253,561 351,055 Total operating expenses 202,150 652,190 854,340 Loss on sale or write down of assets, net — (9,178) (9,178) Net (loss) income $ (33,246) $ 26,854 $ (6,392) Company's equity in net (loss) income $ (10,866) $ 26,555 $ 15,689

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Outstanding	The following derivatives were outstanding at December 31, 2023 and December 31, 2022: Fair Value Property Designation Notional Amount Product SOFR/LIBOR Rate Maturity December 31, December 31, Santa Monica Place Non-Hedged $ 300,000 Cap 4.00 % 12/9/2024 $ 2,665 $ 2,576 The Macerich Partnership, L.P. Non-Hedged $ (300,000) Sold Cap 4.00 % 12/9/2024 $ (2,658) $ (2,567)

Property, net (Tables)

Property, net (Tables)	12 Months Ended
Property, net (Tables)	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Real Estate Properties	Property is recorded at cost and is depreciated using a straight-line method over the estimated useful lives of the assets as follows: Buildings and improvements 5 - 40 years Tenant improvements 5 - 7 years Equipment and furnishings 5 - 7 years Property, net at December 31, 2023 and 2022 consists of the following: 2023 2022 Land $ 1,388,345 $ 1,425,211 Buildings and improvements 6,171,027 6,378,736 Tenant improvements 747,246 711,007 Equipment and furnishings(1) 188,493 186,767 Construction in progress 340,496 218,859 8,835,607 8,920,580 Less accumulated depreciation(1) (2,935,118) (2,792,790) $ 5,900,489 $ 6,127,790 (1)
Schedule of (Loss) Gain on Sale or Write down of Assets	The (loss) gain on sale or write down of assets, net for the years ended December 31, 2023, 2022 and 2021 consist of the following: 2023 2022 2021 Property sales(1) $ 13,380 $ 386 $ 113,657 Write-down of assets(2) (153,495) (15,045) (67,344) Land sales 5,592 22,357 29,427 $ (134,523) $ 7,698 $ 75,740 _______________________________________________________________________________ (1) For the year ended December 31, 2023, includes gains related to the sale of The Marketplace at Flagstaff and Superstition Springs Power Center and includes gains related to the sale of La Encantada and Paradise Valley Mall during the year ended December 31, 2021 (See Note 16-Dispositions). (2) Includes impairment losses of $144,656 on Fashion Outlets of Niagara Falls and $7,880 on Towne Mall during the year ended December 31, 2023. Includes impairment loss of $5,471 relating to the Company's investment in MS Portfolio LLC (See Note 4—Investments in Unconsolidated Joint Ventures) and impairment loss of $5,140 on Towne Mall during the year ended December 31, 2022. Includes a loss of $28,276 in 2021 in connection with the assignment of the Company's partnership interest in The Shops at North Bridge (See Note 4—Investments in Unconsolidated Joint Ventures) and impairment loss of $27,281 on Estrella Falls during the year ended December 31, 2021. The impairment losses were due to the reduction of the estimated holding periods of the properties. The remaining amounts for the years ended December 31, 2023, 2022 and 2021 mainly pertain to the write off of development costs.
Schedule of 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 impairment charges recorded for the years ended December 31, 2023, 2022 and 2021 as described above: Years ended December 31, Total Fair Value Measurement Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) 2023 $ 63,200 $ — $ — $ 63,200 2022 $ 18,250 $ — $ — $ 18,250 2021 $ 4,720 $ — $ 4,720 $ —

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Leasing Revenue	The following table summarizes the components of leasing revenue for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Leasing revenue - fixed payments $ 570,869 $ 551,459 $ 529,227 Leasing revenue - variable payments 235,455 248,433 251,930 Recovery of doubtful accounts 2,699 656 6,390 $ 809,023 $ 800,548 $ 787,547
Schedule of Future Minimum Rental Payments by the Company	The following table summarizes the future rental payments to the Company: 2024 $ 483,136 2025 406,056 2026 332,250 2027 254,321 2028 197,629 Thereafter 685,240 $ 2,358,632
Schedule of Lease Costs	The following table summarizes the lease costs for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Operating lease costs $ 13,608 $ 15,133 $ 14,611 Finance lease costs: Amortization of ROU assets 1,366 1,930 1,917 Interest on lease liabilities 420 499 574 $ 15,394 $ 17,562 $ 17,102
Schedule of Operating Lease Summary of Future Minimum Rental Payments Required	The following table summarizes the future rental payments required under the leases as of December 31, 2023: Year ending Operating Finance Leases 2024 $ 11,442 $ 9,478 2025 11,626 1,400 2026 11,743 — 2027 11,914 — 2028 8,303 — Thereafter 74,831 — Total undiscounted rental payments 129,859 10,878 Less imputed interest (56,475) (273) Total lease liabilities $ 73,384 $ 10,605
Schedule of Finance Lease Summary of Future Minimum Rental Payments Required	The following table summarizes the future rental payments required under the leases as of December 31, 2023: Year ending Operating Finance Leases 2024 $ 11,442 $ 9,478 2025 11,626 1,400 2026 11,743 — 2027 11,914 — 2028 8,303 — Thereafter 74,831 — Total undiscounted rental payments 129,859 10,878 Less imputed interest (56,475) (273) Total lease liabilities $ 73,384 $ 10,605

Deferred Charges and Other As_2

Deferred Charges and Other Assets, net (Tables)	12 Months Ended
Deferred Charges and Other Assets, net (Tables)	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Deferred Charges and Other Assets, Net	Deferred charges and other assets, net at December 31, 2023 and 2022 consist of the following: 2023 2022 Leasing $ 89,175 $ 113,400 Intangible assets: In-place lease values(1) 59,478 63,961 Leasing commissions and legal costs(1) 16,364 17,299 Above-market leases 66,002 71,304 Deferred tax assets 24,024 23,114 Deferred compensation plan assets 62,755 54,353 Other assets 73,576 66,188 391,374 409,619 Less accumulated amortization(2) (128,306) (162,195) $ 263,068 $ 247,424 _______________________________ (1) The amortization of these intangible assets for the next five years and thereafter is as follows: Year Ending December 31, 2024 $ 6,817 2025 5,619 2026 4,935 2027 3,958 2028 3,297 Thereafter 11,676 $ 36,302 (2) Accumulated amortization includes $39,540 and $44,362 relating to in-place lease values, leasing commissions and legal costs at December 31, 2023 and 2022, respectively. Amortization expense for in-place lease values, leasing commissions and legal costs was $7,417, $6,734 and $11,233 for the years ended December 31, 2023, 2022 and 2021, respectively.
Schedule of Estimated Amortization of Intangible Assets for the Next Five Years and Thereafter	The amortization of these intangible assets for the next five years and thereafter is as follows: Year Ending December 31, 2024 $ 6,817 2025 5,619 2026 4,935 2027 3,958 2028 3,297 Thereafter 11,676 $ 36,302
Schedule of 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: 2023 2022 Above-Market Leases Original allocated value $ 66,002 $ 71,304 Less accumulated amortization (36,926) (35,156) $ 29,076 $ 36,148 Below-Market Leases(1) Original allocated value $ 85,174 $ 97,026 Less accumulated amortization (37,490) (40,797) $ 47,684 $ 56,229 _______________________________ (1) Below-market leases are included in other accrued liabilities.
Schedule of Estimated Amortization of Allocated Values of Above and Below-market Leases for the Next Five Years and Thereafter	The amortization of these values for the next five years and thereafter is as follows: Year Ending December 31, Above Below 2024 $ 5,308 $ 7,564 2025 3,911 6,055 2026 3,850 4,730 2027 3,141 4,420 2028 2,955 4,153 Thereafter 9,911 20,762 $ 29,076 $ 47,684

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	12 Months Ended
Mortgage Notes Payable (Tables)	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Mortgage Notes Payable	Mortgage notes payable at December 31, 2023 and 2022 consist of the following: Carrying Amounts of Mortgage Notes(1) Effective Interest Monthly Maturity Property Pledged as Collateral 2023 2022 Chandler Fashion Center(5) $ 255,924 $ 255,736 4.18 % $ 875 2024 Danbury Fair Mall(6) 122,502 148,207 8.51 % 1,773 2024 Fashion District Philadelphia(7) 70,820 104,427 9.50 % 528 2024 Fashion Outlets of Chicago 299,375 299,354 4.61 % 1,145 2031 Fashion Outlets of Niagara Falls USA(8) 86,470 90,514 6.45 % 727 2023 Freehold Raceway Mall(5) 399,044 398,878 3.94 % 1,300 2029 Fresno Fashion Fair 324,453 324,255 3.67 % 971 2026 Green Acres Commons(9) — 125,256 7.14 % — — Green Acres Mall(10) 359,264 237,372 6.62 % 1,819 2028 Kings Plaza Shopping Center 536,956 536,442 3.71 % 1,629 2030 Oaks, The(11) 151,496 165,934 5.74 % 1,038 2024 Pacific View 70,976 70,855 5.45 % 328 2032 Queens Center 600,000 600,000 3.49 % 1,744 2025 Santa Monica Place(12) 297,474 296,521 7.32 % 1,721 2025 SanTan Village Regional Center 219,506 219,414 4.34 % 788 2029 Towne Mall(13) — 18,886 4.48 % — — Victor Valley, Mall of 114,966 114,908 4.00 % 380 2024 Vintage Faire Mall 226,910 233,637 3.55 % 1,256 2026 $ 4,136,136 $ 4,240,596 (1) The mortgage notes payable balances 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 $21,148 and $13,830 at December 31, 2023 and 2022, 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). On November 16, 2023, the Company acquired the partner's 49.9% interest in Freehold Raceway Mall for $5.6 million and the assumption of the partner's share of debt. The Company now owns 100% of Freehold Raceway Mall (See Note 15—Acquisitions). (6) On July 1, 2022, the Company extended the loan maturity to July 1, 2023. The interest rate remained unchanged at 5.5%, and the Company repaid $10,000 of the outstanding loan balance at closing. On June 27, 2023, the Company further extended the loan maturity to July 1, 2024. The Company repaid $10,000 of the outstanding loan balance at closing and the amended interest rate was 7.5% as of July 1, 2023 and incrementally increased to 8.0% as of October 1, 2023, 8.5% as of January 1, 2024 and 9.0% as of April 1, 2024. On January 25, 2024, the Company replaced the existing loan with a $155,000 loan that bears interest at a fixed rate of 6.39%, is interest only during the majority of the loan term and matures on February 6, 2034. (7) On August 26, 2022 and November 28, 2022, the Company repaid $83,058 and $7,117, respectively, of the outstanding loan balance to satisfy certain loan conditions. On January 20, 2023, the Company repaid $26,107 of the outstanding loan balance and exercised its one-year extension option of the loan to January 22, 2024. The interest rate was SOFR plus 3.60%. On January 22, 2024, the Company repaid the majority of the loan balance. The remaining $8,171 matures on April 21, 2024. (8) Effective October 6, 2023, the loan is in default. The Company is in negotiations with the lender on the terms of this non-recourse loan. (9) On March 25, 2021, the Company closed on a two-year extension of the loan to March 29, 2023. The interest rate was LIBOR plus 2.75% and the Company repaid $4,680 of the outstanding loan balance at closing. On January 3, 2023, the Company closed on a five-year $370,000 combined refinance of Green Acres Mall and Green Acres Commons. The new interest only loan bears interest at a fixed rate of 5.90% and matures on January 6, 2028. (10) On January 22, 2021, the Company closed on a one-year extension of the loan to February 3, 2022, which also included a one-year extension option to February 3, 2023, which has been exercised. The interest rate remained unchanged, and the Company repaid $9,000 of the outstanding loan balance at closing. On January 3, 2023, the Company closed on a five-year $370,000 combined refinance of Green Acres Mall and Green Acres Commons. The new interest only loan bears interest at a fixed rate of 5.90% and matures on January 6, 2028. (11) On May 6, 2022, the Company closed on a two-year extension of the loan to June 5, 2024 at a new fixed interest rate of 5.25%. The Company repaid $5,000 of the outstanding loan balance at closing. On June 5, 2023, the Company repaid $10,000 of the outstanding loan balance. (12) On December 9, 2022, the Company closed on a three-year extension of the loan to December 9, 2025, including extension options. The interest rate remained unchanged at LIBOR plus 1.48%, and has converted to 1-month Term SOFR plus 1.52% effective July 9, 2023. The loan is covered by an interest rate cap agreement that effectively prevented LIBOR from exceeding 4.0% during the period ending December 9, 2023. The interest rate cap agreement was converted to 1-month Term SOFR effective July 9, 2023. The interest rate cap agreement has since been extended with a 4% strike rate to December 9, 2024. (13)
Schedule of Future Maturities of Bank and Other Notes Payable	The future maturities of mortgage notes payable are as follows: Year Ending December 31, 2024 $ 810,679 2025 908,383 2026 538,780 2027 1,682 2028 378,336 Thereafter 1,519,424 4,157,284 Deferred finance cost, net (21,148) $ 4,136,136

Financing Arrangement (Tables)

Financing Arrangement (Tables)	12 Months Ended
Financing Arrangement (Tables)	Dec. 31, 2023
Co-Venture Arrangement [Abstract]
Schedule of Financing Arrangement	During the years ended December 31, 2023, 2022 and 2021 the Company recognized related party interest (income) expense in connection with the financing arrangement as follows: 2023 2022 2021 Distributions of the partner's share of net income (loss) $ 2,105 $ 1,833 $ (2,763) Distributions in excess of the partner's share of net income 8,807 8,669 14,435 Adjustment to fair value of financing arrangement obligation (35,118) 24,233 (15,390) $ (24,206) $ 34,735 $ (3,718)

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
Acquisitions (Tables)	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Asset Acquisition	The following is a summary of the allocation of the fair value of the former Sears parcels at Deptford Mall and Vintage Faire Mall upon their consolidation on August 2, 2022: Land $ 6,966 Building and improvements 32,934 Deferred charges 8,075 Other assets (above-market leases) 2,664 Other accrued liabilities (below-market lease) (2,541) Fair value of acquired net assets (at 100% ownership) $ 48,098 The following is a summary of the allocation of the fair value of the former Sears parcels at Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center and Washington Square: Land $ 10,869 Building and improvements 39,359 Construction in progress 38,000 Deferred charges 6,821 Other accrued liabilities (below-market lease) (1,649) Fair value of acquired net assets (at 100% ownership) $ 93,400

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
Related Party Transactions (Tables)	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Fees Charged to Unconsolidated Joint Ventures	The following are fees charged to unconsolidated joint ventures for the years ended December 31: 2023 2022 2021 Management fees $ 18,144 $ 18,208 $ 17,872 Development and leasing fees 9,201 8,028 5,958 $ 27,345 $ 26,236 $ 23,830

Share and Unit-based Plans (Tab

Share and Unit-based Plans (Tables)	12 Months Ended
Share and Unit-based Plans (Tables)	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Activity of Non-vested Stock Units	The following table summarizes the activity of non-vested stock units during the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Units Weighted Units Weighted Units Weighted Balance at beginning of year 295,054 $ 14.58 266,505 $ 19.05 309,845 $ 21.47 Granted 251,738 10.92 209,146 13.43 169,112 14.61 Vested (262,745) 14.08 (180,597) 19.84 (211,465) 19.03 Forfeited — — — — (987) 22.12 Balance at end of year 284,047 $ 11.79 295,054 $ 14.58 266,505 $ 19.05
Schedule of LTIP Units Granted	The Company has granted the following LTI units during the years ended December 31, 2023, 2022 and 2021: Grant Date Units Type Fair Value per LTI Unit Vest Date 1/1/2021 576,378 Service-based $ 10.67 12/31/2023 1/1/2021 1,005,073 Performance-based $ 9.85 12/31/2023 1,581,451 1/1/2022 376,153 Service-based $ 17.28 12/31/2024 1/1/2022 716,545 Performance-based $ 15.77 12/31/2024 1,092,698 1/1/2023 577,255 Service-based $ 11.26 12/31/2025 1/1/2023 1,030,077 Performance-based $ 10.97 12/31/2025 1,607,332
Schedule LTIP Units Valuation Assumptions	The fair value of the market-indexed LTI Units and performance-based LTI Units (Level 3) were estimated on the date of grant using a Monte Carlo Simulation model that based on the following assumptions: Grant Date Risk Free Interest Rate Expected Volatility 1/1/2021 0.17 % 62.82 % 1/1/2022 0.97 % 70.83 % 1/1/2023 4.21 % 74.23 %
Schedule of Activity of Stock Options	The following table summarizes the activity of the non-vested LTI Units during the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Units Weighted Units Weighted Units Weighted Balance at beginning of year 2,215,167 $ 12.90 1,837,691 $ 14.14 784,052 $ 28.11 Granted 1,607,332 11.07 1,092,698 16.29 1,581,451 10.15 Vested (1,378,528) 10.94 (386,828) 15.86 (286,373) 17.62 Forfeited (187,124) 12.15 (328,394) 27.64 (241,439) 29.25 Balance at end of year 2,256,847 $ 12.86 2,215,167 $ 12.90 1,837,691 $ 14.14 The following table summarizes the activity of vested stock options for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Options Weighted Options Weighted Options Weighted Balance at beginning of year 26,371 $ 54.56 37,515 $ 54.34 37,515 $ 54.34 Granted — — — — — — Forfeited — $ — (11,144) 53.82 — — Balance at end of year 26,371 $ 54.56 26,371 $ 54.56 37,515 $ 54.34
Schedule of Activity of Non-vested Phantom Stock Units	The following table summarizes the activity of the non-vested phantom stock units for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Stock Units Weighted Stock Units Weighted Stock Units Weighted Balance at beginning of year 34,039 $ 14.19 — $ — 4,662 $ 35.35 Granted 6,513 11.48 61,420 14.35 17,554 12.09 Vested (23,509) 13.44 (27,381) 14.55 (22,216) 16.97 Balance at end of year 17,043 $ 14.19 34,039 $ 14.19 — $ —
Schedule of Compensation Cost Under the Share and Unit-based Plans	The following summarizes the compensation cost under the share and unit-based plans for the years ended December 31, 2023, 2022 and 2021: 2023 2022 2021 Stock units $ 3,150 $ 3,110 $ 3,173 LTI units 12,599 18,611 14,448 Phantom stock units 316 398 377 $ 16,065 $ 22,119 $ 17,998

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Distributions Made to Common Stockholders on a Per Share Basis	The following table details the components of the distributions, on a per share basis, for the years ended December 31, 2023, 2022 and 2021: 2023(1) 2022(2) 2021(3) Ordinary income $ 0.36 53.0 % $ 0.49 79.2 % $ 0.04 6.0 % Capital gains 0.32 47.0 % 0.06 9.9 % 0.15 24.9 % Return of capital — — % 0.07 10.9 % 0.41 69.1 % Dividends paid $ 0.68 100.0 % $ 0.62 100.0 % $ 0.60 100.0 % _______________________________________________________________________________ (1) The 2023 ordinary income is treated as "qualified REIT dividends" for purposes of Section 199A of the Code and the 2023 capital gains are treated as "unrecaptured Section 1250 gains." (2) 54.5% of the 2022 ordinary income is treated as "qualified REIT dividends" for purposes of Section 199A of the Code and 45.5% of the 2022 ordinary income is treated as "qualified dividend income" for purposes of Section 1(h)(11) of the Code. (3) The 2021 ordinary income is treated as "qualified REIT dividends" for purposes of Section 199A of the Code.
Schedule of Income Tax Provision of TRSs	The income tax provision of the TRSs for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 Current $ — $ — $ — Deferred 494 (705) (6,948) Income tax benefit (expense) $ 494 $ (705) $ (6,948)
Schedule of Reconciliation of Income Tax Provision of the TRSs to the Amount Computed by Applying the Federal Corporate Tax Rate	The income tax provision of the TRSs for the years ended December 31, 2023, 2022 and 2021 are reconciled to the amount computed by applying the Federal Corporate tax rate as follows: 2023 2022 2021 Book loss (income) for TRSs $ 7,671 $ 2,718 $ (23,205) Tax at statutory rate on earnings from continuing operations before income taxes $ 1,611 $ 571 $ (4,873) State taxes 220 (116) (1,261) Other (1,337) (1,160) (814) Income tax benefit (expense) $ 494 $ (705) $ (6,948)
Schedule of Tax Effects of Temporary Differences and Carryforwards of the TRSs Included in Net Deferred Tax Assets	The tax effects of temporary differences and carryforwards of the TRSs included in the net deferred tax assets at December 31, 2023 and 2022 are summarized as follows: 2023 2022 Net operating loss carryforwards $ 12,740 $ 13,362 Property, primarily differences in depreciation and amortization, the tax basis of land assets and treatment of certain other costs 10,396 9,019 Other 888 733 Net deferred tax assets $ 24,024 $ 23,114

Organization (Details)

Organization (Details)	12 Months Ended
Organization (Details)	Dec. 31, 2023 entity
Subsidiary of Limited Liability Company or Limited Partnership
Number of management companies (in entities)	7
The Macerich Partnership, L.P.
Subsidiary of Limited Liability Company or Limited Partnership
Ownership interest in operating partnership (as a percent)	96%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule Operating Partnership's VIEs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Property, net	$ 5,900,489	$ 6,127,790
Total assets	7,513,512	8,094,139
Liabilities:
Mortgage notes payable	4,136,136	4,240,596
Total liabilities	4,985,911	5,144,790
Operating Partnership's VIEs
Assets:
Property, net	128,673	452,559
Other assets	22,277	93,102
Total assets	150,950	545,661
Liabilities:
Mortgage notes payable	219,506	323,841
Other liabilities	78,794	135,340
Total liabilities	$ 298,300	$ 459,181

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule Operating Partnership's VIEs Narrative (Details) - Fashion District Philadelphia	Dec. 09, 2023
Investments in unconsolidated joint ventures:
Joint venture ownership percent acquired (as a percent)	50%
Ownership percentage	100%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
Cash and cash equivalents	$ 94,936	$ 100,320	$ 112,454	$ 465,297
Restricted cash	95,358	80,819	54,517	17,362
Cash and cash equivalents and restricted cash	$ 190,294	$ 181,139	$ 166,971	$ 482,659

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Increase in minimum rent due to straight-line rent adjustment	$ (4,624)	$ (777)	$ 5,873
Minimum
Revenues
Management fees as a percentage of gross monthly rental revenue	1.50%
Maximum
Revenues
Management fees as a percentage of gross monthly rental revenue	4%

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Property and Investment in Unconsolidated Joint Ventures (Details)	Dec. 31, 2023
Investment in unconsolidated joint ventures
Threshold ownership percentage above which to use equity method of accounting only if no controlling financial interest	50%
Buildings and improvements \| Minimum
Property, Plant and Equipment
Estimated useful lives of assets (in years)	5 years
Buildings and improvements \| Maximum
Property, Plant and Equipment
Estimated useful lives of assets (in years)	40 years
Tenant improvements \| Minimum
Property, Plant and Equipment
Estimated useful lives of assets (in years)	5 years
Tenant improvements \| Maximum
Property, Plant and Equipment
Estimated useful lives of assets (in years)	7 years
Equipment and furnishings \| Minimum
Property, Plant and Equipment
Estimated useful lives of assets (in years)	5 years
Equipment and furnishings \| Maximum
Property, Plant and Equipment
Estimated useful lives of assets (in years)	7 years

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Acquisitions (Details)	12 Months Ended
	Dec. 31, 2023 form
Accounting Policies [Abstract]
Number of forms of in-place operating lease intangible assets and liabilities	3

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Deferred Charges, Segment Information and Shareholder Activism Costs (Details)	12 Months Ended
	Dec. 31, 2023 segment area
Segment Information:
Number of business segments \| segment	1
Number of geographic areas in which the Company operates \| area	1
Minimum
Deferred Charges:
Deferred lease costs, amortization period (in years)	1 year
Deferred financing costs, amortization period (in years)	1 year
Maximum
Deferred Charges:
Deferred lease costs, amortization period (in years)	15 years
Deferred financing costs, amortization period (in years)	15 years

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Concentration Risk (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue Benchmark \| Customer Concentration Risk \| Center In New York City
Revenues
Concentration risk (percentage)	11%	12%

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator
Net (loss) income	$ (278,099)	$ (65,079)	$ 16,163
Less: net (loss) income attributable to noncontrolling interests	(4,034)	989	1,900
Net (loss) income attributable to the Company	(274,065)	(66,068)	14,263
Allocation of earnings to participating securities	(870)	(856)	(853)
Allocation of earnings to participating securities	(870)	(856)	(853)
Numerator for basic EPS—net (loss) income attributable to common stockholders	(274,935)	(66,924)	13,410
Numerator for diluted EPS—net (loss) income attributable to common stockholders	$ (274,935)	$ (66,924)	$ 13,410
Denominator
Denominator for basic EPS—weighted average number of common shares outstanding (in shares)	215,548,000	215,031,000	198,070,000
Denominator for diluted EPS—weighted average number of common shares outstanding (in shares)	215,548,000	215,031,000	198,070,000
EPS—net (loss) income attributable to common stockholders:
Basic (in dollars per share)	$ (1.28)	$ (0.31)	$ 0.07
Diluted (in dollars per share)	$ (1.28)	$ (0.31)	$ 0.07
Convertible Preferred Units
Antidilutive securities
Antidilutive securities (in shares)	99,565	99,565	101,948
Partnership Unit
Antidilutive securities
Antidilutive securities (in shares)	8,952,452	8,646,182	9,920,654

Investments in Unconsolidated_3

Investments in Unconsolidated Joint Ventures - Company Ownership (Details)	Dec. 31, 2023
AM Tysons LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Biltmore Shopping Center Partners LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Corte Madera Village, LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50.10%
Country Club Plaza KC Partners LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Kierland Commons Investment LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Macerich HHF Broadway Plaza LLC—Broadway Plaza
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Macerich HHF Centers LLC—Various Properties
Investments in unconsolidated joint ventures:
Ownership percentage	51%
New River Associates LLC—Arrowhead Towne Center
Investments in unconsolidated joint ventures:
Ownership percentage	60%
Pacific Premier Retail LLC—Various Properties
Investments in unconsolidated joint ventures:
Ownership percentage	60%
Propcor II Associates, LLC—Boulevard Shops
Investments in unconsolidated joint ventures:
Ownership percentage	50%
PV Land SPE, LLC
Investments in unconsolidated joint ventures:
Ownership percentage	5%
Scottsdale Fashion Square Partnership
Investments in unconsolidated joint ventures:
Ownership percentage	50%
TM TRS Holding Company LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Tysons Corner LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Tysons Corner Hotel I LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Tysons Corner Property Holdings II LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
Tysons Corner Property LLC
Investments in unconsolidated joint ventures:
Ownership percentage	50%
West Acres Development, LLP
Investments in unconsolidated joint ventures:
Ownership percentage	19%
WMAP, L.L.C.—Atlas Park, The Shops at
Investments in unconsolidated joint ventures:
Ownership percentage	50%

Investments in Unconsolidated_4

Investments in Unconsolidated Joint Ventures - Narrative (Details) ft² in Thousands

12 Months Ended

Jan. 10, 2024 USD ($)

Dec. 27, 2023 USD ($) ft²

Dec. 04, 2023 USD ($)

Nov. 01, 2023 USD ($)

May 18, 2023 USD ($) property

Apr. 25, 2023 USD ($)

Mar. 03, 2023 USD ($)

Nov. 14, 2022 USD ($)

Aug. 02, 2022 USD ($)

Feb. 02, 2022 USD ($)

Dec. 31, 2021 USD ($)

Oct. 26, 2021 USD ($)

Mar. 29, 2021 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Nov. 16, 2023

May 09, 2023 USD ($)

May 17, 2018 property

Investments in unconsolidated joint ventures:

Ownership percentage (as a percent)

49.90%

Write-down of assets

$ 153,495,000

$ 15,045,000

$ 67,344,000

Sears Deptford Mall And Vintage Faire Mall

Investments in unconsolidated joint ventures:

Asset acquisition, consideration transferred

$ 24,544,000

Asset acquisition, percentage of shares owned (as a percent)

100%

Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square

Investments in unconsolidated joint ventures:

Asset acquisition, percentage of shares owned (as a percent)

100%

Joint Venture | Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square

Investments in unconsolidated joint ventures:

Asset acquisition, consideration transferred

$ 46,687,000

Number of properties | property

Joint Venture | Third Party | Sears Deptford Mall And Vintage Faire Mall

Investments in unconsolidated joint ventures:

Joint venture ownership percent acquired (as a percent)

50%

Joint Venture | Third Party | Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square

Investments in unconsolidated joint ventures:

Joint venture ownership percent acquired (as a percent)

50%

Joint Venture | Sears South Plains

Investments in unconsolidated joint ventures:

Write-down of assets

$ 51,363,000

$ 27,054,000

Paradise Valley Mall | Joint Venture

Investments in unconsolidated joint ventures:

Ownership percentage (as a percent)

Payments for joint venture

$ 3,819,000

The Shops at Atlas Park | Joint Venture

Investments in unconsolidated joint ventures:

Debt issued

$ 65,000,000

Variable interest rate spread (as a percent)

4.26%

The Shops at Atlas Park | Joint Venture | LIBOR

Investments in unconsolidated joint ventures:

Variable interest rate spread (as a percent)

4.15%

Interest rate cap (as a percent)

The Shops at Atlas Park | Joint Venture | SOFR

Investments in unconsolidated joint ventures:

Interest rate cap (as a percent)

5.76%

North Bridge,Chicago Illinois | Joint Venture

Investments in unconsolidated joint ventures:

Loss on Investments

$ 28,276,000

North Wabash,Chicago Illinois | Joint Venture

Investments in unconsolidated joint ventures:

Proceeds from divestiture of interest in joint venture

$ 21,000,000

FlatIron Crossing | Joint Venture

Investments in unconsolidated joint ventures:

Debt issued

$ 175,000,000

Repayments of debt

$ 197,011,000

FlatIron Crossing | Joint Venture | Period Two

Investments in unconsolidated joint ventures:

Interest rate cap (as a percent)

FlatIron Crossing | Joint Venture | SOFR

Investments in unconsolidated joint ventures:

Variable interest rate spread (as a percent)

3.70%

FlatIron Crossing | Joint Venture | SOFR | Period One

Investments in unconsolidated joint ventures:

Interest rate cap (as a percent)

Washington Square

Investments in unconsolidated joint ventures:

Repayments of debt

$ 9,000,000

$ 9,000

Washington Square | Joint Venture

Investments in unconsolidated joint ventures:

Repayments of debt

$ 15,000,000

$ 15,000

Joint venture extension term (in years)

4 years

Washington Square | Joint Venture | SOFR

Investments in unconsolidated joint ventures:

Variable interest rate spread (as a percent)

Scottsdale Fashion Square | Joint Venture

Investments in unconsolidated joint ventures:

Debt issued

$ 700,000,000

Repayments of debt

$ 403,931,000

Interest rate on debt (as a percent)

6.21%

Deptford Mall

Investments in unconsolidated joint ventures:

Repayments of debt

$ 5,100,000

Deptford Mall | Joint Venture

Investments in unconsolidated joint ventures:

Repayments of debt

$ 10,000,000

Debt instrument term (in years)

3 years

Deptford Mall | Joint Venture | SOFR

Investments in unconsolidated joint ventures:

Interest rate on debt (as a percent)

3.73%

Country Club Plaza

Investments in unconsolidated joint ventures:

Debt instrument, debt default, amount

$ 147,605,000

Country Club Plaza | Joint Venture

Investments in unconsolidated joint ventures:

Write-down of assets

$ 100,997,000

Debt instrument, debt default, amount

$ 295,210,000

Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square | Joint Venture | Seritage

Investments in unconsolidated joint ventures:

Number of properties | property

Tysons Corner LLC | Joint Venture

Investments in unconsolidated joint ventures:

Debt issued

$ 710,000,000

Repayments of debt

$ 666,465,000

Tysons Corner LLC | Joint Venture | Fixed Rate Residential Mortgage

Investments in unconsolidated joint ventures:

Interest rate on debt (as a percent)

6.60%

Office Property in Los Angeles

Investments in unconsolidated joint ventures:

Ownership percentage (as a percent)

25%

Repayments of debt

$ 324,632,000

Proceeds from sale of property

77,643,000

Gains on sales of investment real estate

$ 8,118,000

Office Property in Los Angeles | Joint Venture

Investments in unconsolidated joint ventures:

Property area (in square feet) | ft²

680

Proceeds from sale of property

$ 700,000,000

Propcor II Associates, LLC—Boulevard Shops | Joint Venture | Subsequent Event

Investments in unconsolidated joint ventures:

Debt issued

$ 24,000,000

Interest rate cap (as a percent)

7.50%

Repayments of debt

$ 23,000,000

Propcor II Associates, LLC—Boulevard Shops | Joint Venture | SOFR | Subsequent Event

Investments in unconsolidated joint ventures:

Variable interest rate spread (as a percent)

2.50%

Investments in Unconsolidated_5

Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Property, net	$ 5,900,489	$ 6,127,790
Total assets	7,513,512	8,094,139
Liabilities and partners' capital:
Mortgage and other notes payable	4,136,136	4,240,596
Total liabilities and equity	7,513,512	8,094,139
Investment in unconsolidated joint ventures:
Assets—Investments in unconsolidated joint ventures	852,764	1,224,288
Liabilities—Distributions in excess of investments in unconsolidated joint ventures	(174,786)	(121,093)
Joint Venture
Assets:
Property, net	7,201,941	8,156,632
Other assets	607,864	664,036
Total assets	7,809,805	8,820,668
Liabilities and partners' capital:
Mortgage and other notes payable	5,445,411	5,491,250
Other liabilities	436,179	451,511
Company's capital	1,090,403	1,528,348
Outside partners' capital	837,812	1,349,559
Total liabilities and equity	7,809,805	8,820,668
Investment in unconsolidated joint ventures:
Company's capital	1,090,403	1,528,348
Basis adjustment	(412,425)	(425,153)
Investments in unconsolidated joint ventures	677,978	1,103,195
Assets—Investments in unconsolidated joint ventures	852,764	1,224,288
Liabilities—Distributions in excess of investments in unconsolidated joint ventures	(174,786)	(121,093)
Investments in unconsolidated joint ventures	$ 677,978	$ 1,103,195

Investments in Unconsolidated_6

Investments in Unconsolidated Joint Ventures - Balance Sheet footnotes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments in unconsolidated joint ventures:
Total assets	$ 7,513,512	$ 8,094,139
Liabilities	4,985,911	5,144,790
Joint Venture
Investments in unconsolidated joint ventures:
Total assets	7,809,805	8,820,668
Amortization of difference between cost of investments and book value of underlying equity	(14,316)	9,371	$ 10,276
Joint Venture \| Pacific Premier Retail LLC—Various Properties
Investments in unconsolidated joint ventures:
Total assets	2,613,690	2,690,651
Liabilities	$ 1,578,328	$ 1,611,661

Investments in Unconsolidated_7

Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Leasing revenue	$ 809,023	$ 800,548	$ 787,547
Total revenues	884,068	859,164	847,437
Expenses:
Leasing expense	36,423	32,670	24,838
Depreciation and amortization	282,361	291,612	311,129
Total expenses	871,201	925,980	915,755
Loss on sale or write down of assets, net	(134,523)	7,698	75,740
Net (loss) income	(278,099)	(65,079)	16,163
Company's equity in net loss	(156,937)	(5,256)	15,689
Other
Revenues:
Other	44,860	30,104	33,867
Shopping center and operating expenses
Expenses:
Shopping center and operating expenses	288,407	289,884	295,016
Joint Venture
Revenues:
Leasing revenue	868,803	852,143	799,981
Total revenues	892,726	872,849	857,126
Expenses:
Leasing expense	6,669	6,564	5,678
Interest expense	285,426	214,400	210,617
Depreciation and amortization	339,634	353,998	351,055
Total expenses	923,668	849,079	854,340
Loss on sale or write down of assets, net	(192,336)	(28,968)	(9,178)
Net (loss) income	(223,278)	(5,198)	(6,392)
Company's equity in net loss	(156,937)	(5,256)	15,689
Joint Venture \| Other
Revenues:
Other	23,923	20,706	57,145
Joint Venture \| Shopping center and operating expenses
Expenses:
Shopping center and operating expenses	291,939	274,117	286,990
PPR Portfolio \| Joint Venture
Revenues:
Leasing revenue	178,790	183,620	168,842
Total revenues	181,085	184,359	168,904
Expenses:
Leasing expense	1,709	1,684	1,286
Interest expense	87,586	65,957	63,072
Depreciation and amortization	89,629	95,990	97,494
Total expenses	223,020	205,535	202,150
Loss on sale or write down of assets, net	0	0	0
Net (loss) income	(41,935)	(21,176)	(33,246)
Company's equity in net loss	(16,517)	(3,501)	(10,866)
PPR Portfolio \| Joint Venture \| Other
Revenues:
Other	2,295	739	62
PPR Portfolio \| Joint Venture \| Shopping center and operating expenses
Expenses:
Shopping center and operating expenses	44,096	41,904	40,298
Other Joint Ventures \| Joint Venture
Revenues:
Leasing revenue	690,013	668,523	631,139
Total revenues	711,641	688,490	688,222
Expenses:
Leasing expense	4,960	4,880	4,392
Interest expense	197,840	148,443	147,545
Depreciation and amortization	250,005	258,008	253,561
Total expenses	700,648	643,544	652,190
Loss on sale or write down of assets, net	(192,336)	(28,968)	(9,178)
Net (loss) income	(181,343)	15,978	26,854
Company's equity in net loss	(140,420)	(1,755)	26,555
Other Joint Ventures \| Joint Venture \| Other
Revenues:
Other	21,628	19,967	57,083
Other Joint Ventures \| Joint Venture \| Shopping center and operating expenses
Expenses:
Shopping center and operating expenses	$ 247,843	$ 232,213	$ 246,692

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative
Other comprehensive (loss) income related to mark to market of derivatives	$ (1,584)	$ 656	$ 8,184
Joint Venture
Derivative
Other comprehensive (loss) income related to mark to market of derivatives		$ 632

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Details) - Interest Rate Cap - Level 2 - Non-Hedged - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Santa Monica Place
Derivatives, Fair Value
Notional Amount	$ 300,000
SOFR/LIBOR Rate	4%
Fair Value	$ 2,665	$ 2,576
The Macerich Partnership, L.P.
Derivatives, Fair Value
Notional Amount	$ 300,000
SOFR/LIBOR Rate	4%
Fair Value	$ (2,658)	$ (2,567)

Property, net - Components of P

Property, net - Components of Property (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment
Equipment and furnishings	$ 188,493	$ 186,767
Property, plant, and equipment and finance lease right-of-use asset, before accumulated depreciation and amortization	8,835,607	8,920,580
Less accumulated depreciation	(2,935,118)	(2,792,790)
Property, net	5,900,489	6,127,790
Land
Property, Plant and Equipment
Property, plant and equipment gross	1,388,345	1,425,211
Buildings and improvements
Property, Plant and Equipment
Property, plant and equipment gross	6,171,027	6,378,736
Tenant improvements
Property, Plant and Equipment
Property, plant and equipment gross	747,246	711,007
Construction in progress
Property, Plant and Equipment
Property, plant and equipment gross	$ 340,496	$ 218,859

Property, net - Narrative (Deta

Property, net - Narrative (Details) $ in Thousands	12 Months Ended
Property, net - Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($) $ / ft²	Dec. 31, 2022 USD ($) $ / ft²	Dec. 31, 2021 USD ($)
Property, Plant and Equipment
Depreciation expense \| $	$ 265,140	$ 271,494	$ 282,158
Measurement Input, Cap Rate \| Valuation, Income Approach
Property, Plant and Equipment
Other real estate owned, measurement input	0.095	0.13
Measurement Input, Discount Rate \| Valuation, Income Approach
Property, Plant and Equipment
Other real estate owned, measurement input	0.105	0.145
Measurement Input, Market Rents Per Square Foot \| Valuation, Income Approach
Property, Plant and Equipment
Other real estate owned, measurement input \| $ / ft²	12	250

Property, net - Schedule of (Lo

Property, net - Schedule of (Loss) Gain on Sale or Write down of Assets (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment
Loss on write-down of assets		$ (153,495)	$ (15,045)	$ (67,344)
Gain (loss) on sale or write down of assets, net		(134,523)	7,698	75,740
MS Portfolio LLC
Property, Plant and Equipment
Loss on write-down of assets		(5,471)
Towne Mall
Property, Plant and Equipment
Loss on write-down of assets		(7,880)	(5,140)
Fashion Outlet of Niagara Falls
Property, Plant and Equipment
Loss on write-down of assets		(144,656)
Estrella Falls
Property, Plant and Equipment
Loss on write-down of assets				(27,281)
Joint Venture
Property, Plant and Equipment
Gain (loss) on sale or write down of assets, net		(192,336)	(28,968)	(9,178)
Joint Venture \| North Bridge,Chicago Illinois
Property, Plant and Equipment
Loss on Investments	$ 28,276			28,276
Property
Property, Plant and Equipment
Gain on sales		13,380	386	113,657
Land
Property, Plant and Equipment
Gain on sales		$ 5,592	$ 22,357	$ 29,427

Property, net - Assets Measured

Property, net - Assets Measured on a Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total Fair Value Measurement	$ 63,200	$ 18,250	$ 4,720
(Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total Fair Value Measurement	0	0	0
(Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total Fair Value Measurement	0	0	4,720
(Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total Fair Value Measurement	$ 63,200	$ 18,250	$ 0

Tenant and Other Receivables,_2

Tenant and Other Receivables, net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Components of tenant and other receivables, net
Allowance for doubtful accounts	$ 4,824	$ 10,741
Deferred rent receivables due to straight-line rent adjustments	105,260	110,155
Accrued Percentage Rents
Components of tenant and other receivables, net
Accounts receivable	$ 15,076	$ 18,010

Leases - Components of leasing

Leases - Components of leasing revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Leasing revenue - fixed payments	$ 570,869	$ 551,459	$ 529,227
Leasing revenue - variable payments	235,455	248,433	251,930
Recovery of doubtful accounts	2,699	656	6,390
Leasing revenue	$ 809,023	$ 800,548	$ 787,547

Leases - Summary of Minimum Ren

Leases - Summary of Minimum Rental Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity
2024	$ 483,136
2025	406,056
2026	332,250
2027	254,321
2028	197,629
Thereafter	685,240
Total	$ 2,358,632

Leases - Narrative (Details)

Leases - Narrative (Details)	12 Months Ended
Leases - Narrative (Details)	Dec. 31, 2023 lease
Leases [Abstract]
Number of finance leases	5
Weighted average remaining lease term, operating leases	24 years 1 month 6 days
Weighted average remaining lease term, finance leases	8 months 12 days
Weighted average incremental borrowing rate, operating leases	7.10%
Weighted average incremental borrowing rate, finance leases	3.60%

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease costs	$ 13,608	$ 15,133	$ 14,611
Finance lease costs:
Amortization of ROU assets	1,366	1,930	1,917
Interest on lease liabilities	420	499	574
Total lease cost	$ 15,394	$ 17,562	$ 17,102

Leases - Summary of Minimum Fut

Leases - Summary of Minimum Future Rental Payments Required (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 11,442
2025	11,626
2026	11,743
2027	11,914
2028	8,303
Thereafter	74,831
Total undiscounted rental payments	129,859
Less imputed interest	(56,475)
Total lease liabilities	$ 73,384
Operating Lease, Liability, Statement of Financial Position	Lease liabilities	Lease liabilities
Finance Leases
2024	$ 9,478
2025	1,400
2026	0
2027	0
2028	0
Thereafter	0
Total undiscounted rental payments	10,878
Less imputed interest	(273)
Total lease liabilities	$ 10,605
Finance Lease, Liability, Statement of Financial Position	Lease liabilities	Lease liabilities

Deferred Charges and Other As_3

Deferred Charges and Other Assets, net - Schedule of deferred charges and other assets, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Leasing	$ 89,175	$ 113,400
Intangible assets:
In-place lease values	59,478	63,961
Leasing commissions and legal costs	16,364	17,299
Above-market leases	66,002	71,304
Deferred tax assets	24,024	23,114
Deferred compensation plan assets	62,755	54,353
Other assets	73,576	66,188
Deferred charges and other assets, gross	391,374	409,619
Less accumulated amortization	(128,306)	(162,195)
Deferred charges and other assets, net	263,068	247,424
In-place lease values, leasing commissions and legal costs
Finite-Lived Intangible Assets
Accumulated amortization	39,540	44,362
Amortization expense	$ 7,417	$ 6,734	$ 11,233

Deferred Charges and Other As_4

Deferred Charges and Other Assets, net - Schedule of estimated amortization of intangible assets for the next five years and thereafter (Details) - In-place lease values, leasing commissions and legal costs $ in Thousands	Dec. 31, 2023 USD ($)
Year Ending December 31,
2024	$ 6,817
2025	5,619
2026	4,935
2027	3,958
2028	3,297
Thereafter	11,676
Allocated value net	$ 36,302

Deferred Charges and Other As_5

Deferred Charges and Other Assets, net - Allocated values of above-market leases and below-market leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Below-Market Leases
Original allocated value	$ 85,174	$ 97,026
Less accumulated amortization	(37,490)	(40,797)
Allocated value, net	47,684	56,229
Above Market
Above-Market Leases
Original allocated value	66,002	71,304
Less accumulated amortization	(36,926)	(35,156)
Allocated value net	$ 29,076	$ 36,148

Deferred Charges and Other As_6

Deferred Charges and Other Assets, net - Schedule of estimated amortization of allocated values of above and below-market leases for the next five years and thereafter (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Below Market
2024	$ 7,564
2025	6,055
2026	4,730
2027	4,420
2028	4,153
Thereafter	20,762
Allocated value, net	47,684	$ 56,229
Above Market
Above Market
2024	5,308
2025	3,911
2026	3,850
2027	3,141
2028	2,955
Thereafter	9,911
Allocated value net	$ 29,076	$ 36,148

Mortgage Notes Payable - Schedu

Mortgage Notes Payable - Schedule of Mortgage Notes Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Mortgage loans payable on real estate
Long-term Debt	$ 4,136,136	$ 4,240,596
Chandler Fashion Center
Mortgage loans payable on real estate
Long-term Debt	$ 255,924	255,736
Effective Interest Rate (as a percent)	4.18%
Monthly Debt Service	$ 875
Danbury Fair Mall
Mortgage loans payable on real estate
Long-term Debt	$ 122,502	148,207
Effective Interest Rate (as a percent)	8.51%
Monthly Debt Service	$ 1,773
Fashion District Philadelphia
Mortgage loans payable on real estate
Long-term Debt	$ 70,820	104,427
Effective Interest Rate (as a percent)	9.50%
Monthly Debt Service	$ 528
Fashion Outlets of Chicago
Mortgage loans payable on real estate
Long-term Debt	$ 299,375	299,354
Effective Interest Rate (as a percent)	4.61%
Monthly Debt Service	$ 1,145
Fashion Outlets of Niagara Falls USA
Mortgage loans payable on real estate
Long-term Debt	$ 86,470	90,514
Effective Interest Rate (as a percent)	6.45%
Monthly Debt Service	$ 727
Freehold Raceway Mall
Mortgage loans payable on real estate
Long-term Debt	$ 399,044	398,878
Effective Interest Rate (as a percent)	3.94%
Monthly Debt Service	$ 1,300
Fresno Fashion Fair
Mortgage loans payable on real estate
Long-term Debt	$ 324,453	324,255
Effective Interest Rate (as a percent)	3.67%
Monthly Debt Service	$ 971
Green Acres Commons
Mortgage loans payable on real estate
Long-term Debt	$ 0	125,256
Effective Interest Rate (as a percent)	7.14%
Monthly Debt Service	$ 0
Green Acres Mall
Mortgage loans payable on real estate
Long-term Debt	$ 359,264	237,372
Effective Interest Rate (as a percent)	6.62%
Monthly Debt Service	$ 1,819
Kings Plaza Shopping Center
Mortgage loans payable on real estate
Long-term Debt	$ 536,956	536,442
Effective Interest Rate (as a percent)	3.71%
Monthly Debt Service	$ 1,629
Oaks, The
Mortgage loans payable on real estate
Long-term Debt	$ 151,496	165,934
Effective Interest Rate (as a percent)	5.74%
Monthly Debt Service	$ 1,038
Pacific View
Mortgage loans payable on real estate
Long-term Debt	$ 70,976	70,855
Effective Interest Rate (as a percent)	5.45%
Monthly Debt Service	$ 328
Queens Center
Mortgage loans payable on real estate
Long-term Debt	$ 600,000	600,000
Effective Interest Rate (as a percent)	3.49%
Monthly Debt Service	$ 1,744
Santa Monica Place - Swapped
Mortgage loans payable on real estate
Long-term Debt	$ 297,474	296,521
Effective Interest Rate (as a percent)	7.32%
Monthly Debt Service	$ 1,721
SanTan Village Regional Center
Mortgage loans payable on real estate
Long-term Debt	$ 219,506	219,414
Effective Interest Rate (as a percent)	4.34%
Monthly Debt Service	$ 788
Towne Mall
Mortgage loans payable on real estate
Long-term Debt	$ 0	18,886
Effective Interest Rate (as a percent)	4.48%
Monthly Debt Service	$ 0
Victor Valley, Mall of
Mortgage loans payable on real estate
Long-term Debt	$ 114,966	114,908
Effective Interest Rate (as a percent)	4%
Monthly Debt Service	$ 380
Vintage Faire Mall
Mortgage loans payable on real estate
Long-term Debt	$ 226,910	$ 233,637
Effective Interest Rate (as a percent)	3.55%
Monthly Debt Service	$ 1,256

Mortgage Notes Payable - Footno

Mortgage Notes Payable - Footnotes (Details) - USD ($)

12 Months Ended

Jan. 24, 2024

Nov. 16, 2023

Jul. 01, 2023

Jun. 05, 2023

Jan. 20, 2023

Jan. 03, 2023

Dec. 09, 2022

Nov. 28, 2022

Aug. 26, 2022

Jul. 01, 2022

May 06, 2022

Oct. 26, 2021

Sep. 17, 2021

Mar. 25, 2021

Jan. 22, 2021

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Apr. 01, 2024

Jan. 22, 2024

Jan. 01, 2024

Oct. 01, 2023

Mortgage loans payable on real estate

Unamortized deferred finance costs

$ 21,148,000

$ 13,830,000

Repayments of debt

$ 100,142,000

863,258,000

406,075,000

$ 2,020,395,000

Mortgage notes payable

4,136,136,000

4,240,596,000

Payments to Acquire Interest in Joint Venture

81,158,000

81,718,000

$ 86,846,000

Joint Venture

Mortgage loans payable on real estate

Mortgage notes payable

$ 5,445,411,000

$ 5,491,250,000

Freehold Raceway Mall

Mortgage loans payable on real estate

Interest in the loan assumed by a third party (as a percent)

49.90%

Joint venture ownership percent acquired (as a percent)

49.90%

Asset acquisition, percentage of shares owned (as a percent)

100%

Payments to Acquire Interest in Joint Venture

$ 5,600,000

Chandler Fashion Center

Mortgage loans payable on real estate

Interest in the loan assumed by a third party (as a percent)

49.90%

Danbury Fair Mall

Mortgage loans payable on real estate

Interest rate on debt (as a percent)

7.50%

5.50%

Repayments of debt

$ 10,000

$ 10,000,000

Danbury Fair Mall | Subsequent Event

Mortgage loans payable on real estate

Interest rate on debt (as a percent)

6.39%

8.50%

Debt issued

$ 155,000,000

Danbury Fair Mall | Subsequent Event | Expected

Mortgage loans payable on real estate

Interest rate on debt (as a percent)

The Shops at Atlas Park | Joint Venture

Mortgage loans payable on real estate

Debt issued

$ 65,000,000

Variable interest rate spread (as a percent)

4.26%

The Shops at Atlas Park | SOFR | Joint Venture

Mortgage loans payable on real estate

Interest rate cap (as a percent)

5.76%

The Shops at Atlas Park | LIBOR | Joint Venture

Mortgage loans payable on real estate

Variable interest rate spread (as a percent)

4.15%

Interest rate cap (as a percent)

Fashion District Philadelphia

Mortgage loans payable on real estate

Repayments of debt

$ 26,107,000

$ 7,117,000

$ 83,058,000

Extension term

1 year

Fashion District Philadelphia | Subsequent Event

Mortgage loans payable on real estate

Mortgage notes payable

$ 8,171,000

Fashion District Philadelphia | SOFR

Mortgage loans payable on real estate

Variable interest rate spread (as a percent)

3.60%

Green Acres Commons

Mortgage loans payable on real estate

Repayments of debt

$ 4,680,000

Extension term

2 years

Green Acres Commons | LIBOR

Mortgage loans payable on real estate

Variable interest rate spread (as a percent)

2.75%

Green Acres Mall

Mortgage loans payable on real estate

Repayments of debt

$ 9,000,000

Extension term

1 year

Green Acres Mall and Green Acres Commons

Mortgage loans payable on real estate

Interest rate on debt (as a percent)

5.90%

Repayments of debt

$ 370,000,000

Debt instrument term (in years)

5 years

The Oaks One Mortgage

Mortgage loans payable on real estate

Interest rate on debt (as a percent)

5.25%

Repayments of debt

$ 10,000

Repayments of debt

$ 5,000,000

Extension term

2 years

Santa Monica Place

Mortgage loans payable on real estate

Extension term

3 years

Santa Monica Place | SOFR

Mortgage loans payable on real estate

Variable interest rate spread (as a percent)

1.52%

Interest rate cap (as a percent)

Santa Monica Place | LIBOR

Mortgage loans payable on real estate

Variable interest rate spread (as a percent)

1.48%

Interest rate cap (as a percent)

Mortgage Notes Payable - Narrat

Mortgage Notes Payable - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Interest expense capitalized	$ 20,531	$ 10,471	$ 9,504
Fair value of mortgage notes payable	$ 3,863,997	$ 3,894,588

Mortgage Notes Payable - Future

Mortgage Notes Payable - Future Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Mortgage loans payable on real estate
Deferred finance cost, net	$ (21,148)	$ (13,830)
Long-term debt	4,136,136	$ 4,240,596
Mortgage notes payable
Mortgage loans payable on real estate
2024	810,679
2025	908,383
2026	538,780
2027	1,682
2028	378,336
Thereafter	1,519,424
Long term debt including debt premium	4,157,284
Deferred finance cost, net	(21,148)
Long-term debt	$ 4,136,136

Bank and Other Notes Payable (D

Bank and Other Notes Payable (Details) - USD ($)		12 Months Ended
Bank and Other Notes Payable (Details) - USD ($)	Sep. 11, 2023	Dec. 31, 2023	Dec. 31, 2022	Apr. 14, 2021
Mortgage loans payable on real estate
Unamortized deferred finance costs		$ 21,148,000	$ 13,830,000
Revolving Loan Facility Matures On April 14, 2024 \| Line of Credit \| Revolving Line of Credit
Mortgage loans payable on real estate
Line of credit				$ 525,000,000
Revolving Loan Facility Matures On February 1, 2027 \| Revolving Line of Credit
Mortgage loans payable on real estate
Extension term	1 year
Expanded line of credit facility (up to)	$ 950,000,000
Outstanding borrowings under the line of credit		$ 105,000,000	$ 171,000,000
Average interest rate (as a percent)		8.57%	8.08%
Unamortized deferred finance costs		$ 15,452,000	$ 7,883,000
Availability for additional borrowings		544,787,000
Revolving Loan Facility Matures On February 1, 2027 \| Revolving Line of Credit \| Level 2
Mortgage loans payable on real estate
Estimated fair value of term loan		$ 110,985,000
Revolving Loan Facility Matures On February 1, 2027 \| Revolving Line of Credit \| SOFR
Mortgage loans payable on real estate
Adjusted term premium (percent)	0.10%
Variable interest rate spread (as a percent)		2.35%	2.35%
Revolving Loan Facility Matures On February 1, 2027 \| Revolving Line of Credit \| LIBOR
Mortgage loans payable on real estate
Variable interest rate spread (as a percent)		2.25%	2.25%
Revolving Loan Facility Matures On February 1, 2027 \| Revolving Line of Credit \| Minimum \| SOFR
Mortgage loans payable on real estate
Debt Instrument, leverage ratio requirement	1%
Revolving Loan Facility Matures On February 1, 2027 \| Revolving Line of Credit \| Maximum \| SOFR
Mortgage loans payable on real estate
Debt Instrument, leverage ratio requirement	2.50%
Revolving Loan Facility Matures On February 1, 2027 \| Line of Credit \| Revolving Line of Credit
Mortgage loans payable on real estate
Line of credit	$ 650,000,000
Revolving Loan Facility Matures On February 1, 2027 \| Term Loan
Mortgage loans payable on real estate
Withdrawn amount	$ 152,000,000

Financing Arrangement - Narrati

Financing Arrangement - Narrative (Details) ft² in Thousands, $ in Thousands	Nov. 16, 2023 USD ($)	Sep. 30, 2009 ft²	Dec. 31, 2023 $ / ft²	Dec. 31, 2022 $ / ft²
Schedule of Joint Ventures
Ownership percentage (as a percent)	49.90%
Discount rate (as a percent)	100%		8%	7.80%
Terminal capitalization rate (as a percent)			6.50%	6.30%
Freehold Raceway Mall \| Joint Venture
Schedule of Joint Ventures
Purchase price on acquisition \| $	$ 5,587
Financing Arrangement
Schedule of Joint Ventures
Ownership percentage (as a percent)	49.90%
Minimum \| Financing Arrangement
Schedule of Joint Ventures
Market rent per square foot (as a percent) \| $ / ft²			35
Maximum \| Financing Arrangement
Schedule of Joint Ventures
Market rent per square foot (as a percent) \| $ / ft²				240
Chandler Fashion Center \| Financing Arrangement
Schedule of Joint Ventures
Ownership interest sold (as a percent)		49.90%
Chandler Fashion Center And Freehold Raceway Mall \| Financing Arrangement
Schedule of Joint Ventures
Property area (in square feet) \| ft²		1,402
Freehold Raceway Mall \| Financing Arrangement
Schedule of Joint Ventures
Property area (in square feet) \| ft²		1,546

Financing Arrangement - Financi

Financing Arrangement - Financing Arrangement Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Joint Ventures
Related parties	$ 172,920	$ 216,851	$ 192,679
Financing Arrangement \| Joint Venture
Schedule of Joint Ventures
Distributions of the partner's share of net income (loss)	2,105	1,833	(2,763)
Distributions in excess of the partner's share of net income	8,807	8,669	14,435
Adjustment to fair value of financing arrangement obligation	(35,118)	24,233	(15,390)
Related parties	$ (24,206)	$ 34,735	$ (3,718)

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) trading_day $ / shares	Dec. 31, 2022 USD ($) $ / shares
Noncontrolling Interest
Par value of common stock (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Number of trading days used to calculate redemption value \| trading_day	10
Redemption value of outstanding OP Units not owned by the Company \| $	$ 158,157	$ 103,023
The Macerich Partnership, L.P.
Noncontrolling Interest
Ownership interest in operating partnership (as a percent)	96%
Limited partnership interest of the operating partnership (as a percent)	4%	4%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	12 Months Ended
Stockholders' Equity (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 12, 2017
Class of Stock
Authorized repurchase amount				$ 500,000,000
Proceeds from issuance net of common stock			$ 830,241,000
Additional shares available for sale		$ 151,699,000
Shares repurchased (in shares)	0	0	0
March 2021 ATM Program
Class of Stock
Authorized repurchase amount	$ 500,000,000
February 2021 ATM Program
Class of Stock
Authorized repurchase amount	500,000,000
ATM Programs
Class of Stock
Authorized repurchase amount	$ 1,000,000,000
Number of shares issued in transaction (in shares)			62,049,131
Net proceeds from stock offerings			$ 848,301,000

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands	Nov. 16, 2023 USD ($)	May 18, 2023 USD ($) property	Aug. 02, 2022 USD ($)	Dec. 09, 2023	Aug. 01, 2022 property	May 17, 2018 property
Acquisition
Ownership percentage (as a percent)	49.90%
Freehold Raceway Mall
Acquisition
Business acquisition, percentage of voting interests acquired	100%
Fashion District Philadelphia
Acquisition
Business acquisition, percentage of voting interests acquired				100%
Joint Venture \| Freehold Raceway Mall
Acquisition
Purchase price on acquisition \| $	$ 5,587
Joint Venture \| Third Party \| Freehold Raceway Mall
Acquisition
Ownership percentage (as a percent)	49.90%
Joint Venture \| Third Party \| Fashion District Philadelphia
Acquisition
Ownership percentage (as a percent)				50%
Joint Venture \| Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square \| Seritage
Acquisition
Number of properties \| property						5
Joint Venture \| Sears Deptford Mall And Vintage Faire Mall \| Seritage
Acquisition
Number of properties \| property					2
Sears Deptford Mall And Vintage Faire Mall
Acquisition
Asset acquisition, consideration transferred \| $			$ 24,544
Asset acquisition, percentage of shares owned (as a percent)		100%	100%
Sears Deptford Mall And Vintage Faire Mall \| Joint Venture \| Third Party
Acquisition
Joint venture ownership percent acquired (as a percent)			50%
Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square
Acquisition
Asset acquisition, percentage of shares owned (as a percent)		100%
Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square \| Joint Venture
Acquisition
Number of properties \| property		5
Asset acquisition, consideration transferred \| $		$ 46,687
Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square \| Joint Venture \| Third Party
Acquisition
Joint venture ownership percent acquired (as a percent)		50%

Acquisitions - Asset Acquisitio

Acquisitions - Asset Acquisition Allocation of Fair Value (Details) - USD ($) $ in Thousands	May 18, 2023	Aug. 02, 2022
Sears Deptford Mall And Vintage Faire Mall
Acquisition
Land		$ 6,966
Building and improvements		32,934
Deferred charges		8,075
Other assets (above-market leases)		2,664
Other accrued liabilities (below-market lease)		(2,541)
Fair value of acquired net assets (at 100% ownership)		$ 48,098
Asset acquisition, percentage of shares owned (as a percent)	100%	100%
Chandler Fashion Center, Danbury Fair Mall, Freehold Raceway Mall, Los Cerritos Center And Washington Square
Acquisition
Land	$ 10,869
Building and improvements	39,359
Construction in progress	38,000
Deferred charges	6,821
Other accrued liabilities (below-market lease)	(1,649)
Fair value of acquired net assets (at 100% ownership)	$ 93,400
Asset acquisition, percentage of shares owned (as a percent)	100%

Dispositions (Details)

Dispositions (Details) ft² in Thousands, $ in Thousands						12 Months Ended
Dispositions (Details) ft² in Thousands, $ in Thousands	Dec. 04, 2023 USD ($)	Jul. 17, 2023 USD ($) ft²	May 02, 2023 USD ($) ft²	Sep. 17, 2021 USD ($)	Mar. 29, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 16, 2023
Discontinued Operations:
Ownership percentage (as a percent)									49.90%
Proceeds from sale of assets						$ 35,528	$ 50,458	$ 337,514
Repayments of debt				$ 100,142		863,258	406,075	2,020,395
Gain (loss) on extinguishment of debt						8,208	0	(1,007)
Land
Discontinued Operations:
Gains on sales of investment real estate						$ 5,592	$ 22,357	$ 29,427
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Market Place At Flagstaff
Discontinued Operations:
Gain on sale of assets			$ 10,349
Proceeds from sale of assets			$ 23,500
Property area (in square feet) \| ft²			268
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Superstition Springs Power Center In Mesa Arizona
Discontinued Operations:
Gain on sale of assets		$ 1,903
Proceeds from sale of assets		$ 5,634
Property area (in square feet) \| ft²		204
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Towne Mall
Discontinued Operations:
Proceeds from sale of assets	$ 9,500
Gain (loss) on extinguishment of debt	$ 8,208
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Paradise Valley Mall
Discontinued Operations:
Gain on sale of assets					$ 100,000
Ownership percentage (as a percent)					5%
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Paradise Valley Mall \| Land
Discontinued Operations:
Gain on sale of assets					$ 5,563
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Tucson La Encantada in Tucson, Arizona
Discontinued Operations:
Gain on sale of assets				117,242
Proceeds from sale of assets				$ 165,250

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Contingent liability under letters of credit	$ 41,033
Outstanding obligations under construction agreements	$ 8,351

Related Party Transactions - Sc

Related Party Transactions - Schedule of fees charged to unconsolidated joint ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Management fees
Related Party Transaction
Revenue	$ 30,185	$ 28,512	$ 26,023
Related parties
Related Party Transaction
Revenue	27,345	26,236	23,830
Related parties \| Management fees
Related Party Transaction
Revenue	18,144	18,208	17,872
Related parties \| Development and leasing fees
Related Party Transaction
Revenue	$ 9,201	$ 8,028	$ 5,958

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction
Interest (income) expense	$ 172,920	$ 216,851	$ 192,679
Related parties
Related Party Transaction
Interest (income) expense	(24,206)	34,735	$ (3,718)
Due from affiliates	$ 4,755	$ 3,299

Share and Unit-based Plans - 20

Share and Unit-based Plans - 2003 Equity Incentive Plan (Details) - 2003 Equity Incentive Plan	12 Months Ended
	Dec. 31, 2023 shares
Share and unit-based plans
Term of award (in years)	10 years
Maximum shares authorized under plan (in shares)	26,112,331
Shares available for issuance under plan (in shares)	7,678,580

Share and Unit-based Plans - St

Share and Unit-based Plans - Stock Units Roll Forward Activity (Details) - Stock units	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of common shares into which units can be converted (in shares)	1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Balance at beginning of year (in shares) \| shares	295,054	266,505	309,845
Granted (in shares) \| shares	251,738	209,146	169,112
Vested (in shares) \| shares	(262,745)	(180,597)	(211,465)
Forfeited (in shares) \| shares	0	0	(987)
Balance at end of year (in shares) \| shares	284,047	295,054	266,505
Weighted Average Grant Date Fair Value
Balance at beginning of year (in dollars per share) \| $ / shares	$ 14.58	$ 19.05	$ 21.47
Granted (in dollars per share) \| $ / shares	10.92	13.43	14.61
Vested (in dollars per share) \| $ / shares	14.08	19.84	19.03
Forfeited (in dollars per share) \| $ / shares	0	0	22.12
Balance at end of year (in dollars per share) \| $ / shares	$ 11.79	$ 14.58	$ 19.05

Share and Unit-based Plans - Lo

Share and Unit-based Plans - Long-Term Incentive Plan Units Narrative (Details)	12 Months Ended
	Dec. 31, 2023
Stock units
Share and unit-based plans
Conversion rate	1
LTI units
Share and unit-based plans
Conversion rate	1

Share and Unit-based Plans - Sc

Share and Unit-based Plans - Schedule of LTIP Grants (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
LTI units
Share and unit-based plans
Granted (in shares)	1,607,332	1,092,698	1,581,451
Granted (in dollars per share)	$ 11.07	$ 16.29	$ 10.15
January 1, 2021 \| Service-based \| First Vesting Period
Share and unit-based plans
Granted (in shares)			576,378
Granted (in dollars per share)			$ 10.67
January 1, 2021 \| Performance-based \| First Vesting Period
Share and unit-based plans
Granted (in shares)			1,005,073
Granted (in dollars per share)			$ 9.85
January 1, 2022 \| Service-based \| First Vesting Period
Share and unit-based plans
Granted (in shares)		376,153
Granted (in dollars per share)		$ 17.28
January 1, 2022 \| Performance-based \| First Vesting Period
Share and unit-based plans
Granted (in shares)		716,545
Granted (in dollars per share)		$ 15.77
January 1, 2023 \| Service-based \| First Vesting Period
Share and unit-based plans
Granted (in shares)	577,255
Granted (in dollars per share)	$ 11.26
January 1, 2023 \| Performance-based \| First Vesting Period
Share and unit-based plans
Granted (in shares)	1,030,077
Granted (in dollars per share)	$ 10.97

Share and Unit-based Plans - _2

Share and Unit-based Plans - Schedule LTIP Units Valuation Assumptions (Details) - LTI units	12 Months Ended
	Dec. 31, 2023
January 1, 2021
Share and unit-based plans
Risk Free Interest Rate	0.17%
Expected Volatility	62.82%
January 1, 2022
Share and unit-based plans
Risk Free Interest Rate	0.97%
Expected Volatility	70.83%
January 1, 2023
Share and unit-based plans
Risk Free Interest Rate	4.21%
Expected Volatility	74.23%

Share and Unit-based Plans - LT

Share and Unit-based Plans - LTIP Activity (Details) - LTI units - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares or Units
Balance at beginning of year (in shares)	2,215,167	1,837,691	784,052
Granted (in shares)	1,607,332	1,092,698	1,581,451
Vested (in shares)	(1,378,528)	(386,828)	(286,373)
Forfeited (in shares)	(187,124)	(328,394)	(241,439)
Balance at end of year (in shares)	2,256,847	2,215,167	1,837,691
Weighted Average Grant Date Fair Value
Balance at beginning of year (in dollars per share)	$ 12.90	$ 14.14	$ 28.11
Granted (in dollars per share)	11.07	16.29	10.15
Vested (in dollars per share)	10.94	15.86	17.62
Forfeited (in dollars per share)	12.15	27.64	29.25
Balance at end of year (in dollars per share)	$ 12.86	$ 12.90	$ 14.14

Share and Unit-based Plans - _3

Share and Unit-based Plans - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Options
Balance at beginning of year (in shares)	26,371	37,515	37,515
Granted (in shares)	0	0	0
Forfeited (in shares)	0	(11,144)	0
Balance at end of year (in shares)	26,371	26,371	37,515
Weighted Average Exercise Price
Balance at beginning of year (in dollars per share)	$ 54.56	$ 54.34	$ 54.34
Granted (in dollars per share)	0	0	0
Forfeited (in dollars per share)	0	53.82	0
Balance at end of year (in dollars per share)	$ 54.56	$ 54.56	$ 54.34

Share and Unit-based Plans - Di

Share and Unit-based Plans - Directors' Phantom Stock Plan (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares
Phantom stock units
Share and unit-based plans
Number of common shares into which units can be converted (in shares)	1
Units
Balance at beginning of year (in shares)	34,039	0	4,662
Granted (in shares)	6,513	61,420	17,554
Vested (in shares)	(23,509)	(27,381)	(22,216)
Balance at end of year (in shares)	17,043	34,039	0
Weighted Average Grant Date Fair Value
Balance at beginning of year (in dollars per share) \| $ / shares	$ 14.19	$ 0	$ 35.35
Granted (in dollars per share) \| $ / shares	11.48	14.35	12.09
Vested (in dollars per share) \| $ / shares	13.44	14.55	16.97
Balance at end of year (in dollars per share) \| $ / shares	$ 14.19	$ 14.19	$ 0
Director's Phantom Stock Plan
Share and unit-based plans
Deferral period for grant of units (in years)	3 years
Number of common shares into which units can be converted (in shares)	1
Maximum shares authorized under plan (in shares)	650,000
Shares available for issuance under plan (in shares)	174,576

Share and Unit-based Plans - Em

Share and Unit-based Plans - Employee Stock Purchase Plan (Details) - ESPP	12 Months Ended
	Dec. 31, 2023 shares
Share and unit-based plans
Discount from market price (as a percent)	15%
Maximum shares authorized under plan (in shares)	1,291,117
Shares available for issuance under plan (in shares)	82,873

Share and Unit-based Plans - Co

Share and Unit-based Plans - Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share and unit-based plans
Compensation cost under share and unit-based plans	$ 16,065	$ 22,119	$ 17,998
Capitalized share and unit-based compensation costs	2,899	4,481	3,725
Stock units
Share and unit-based plans
Compensation cost under share and unit-based plans	3,150	3,110	3,173
Unrecognized compensation cost of share and unit-based plans	1,858
LTI units
Share and unit-based plans
Compensation cost under share and unit-based plans	12,599	18,611	14,448
Unrecognized compensation cost of share and unit-based plans	3,087
Phantom stock units
Share and unit-based plans
Compensation cost under share and unit-based plans	316	398	377
Stock Awards and Units
Share and unit-based plans
Fair value of equity-based awards vested during period	$ 2,736	$ 2,349	$ 3,408

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
The Plan
Employee Benefit Plans:
Number of common stock shares reserved for issuance (in shares)	650,000
Employer match of employee contributions of first 3% of eligible compensation (as a percent)	100%
Percentage of eligible compensation, matched 100% by employer (as a percent)	3%
Employer match of employee contributions of next 2% of eligible compensation (as a percent)	50%
Percentage of eligible compensation, matched 50% by employer (as a percent)	2%
Employer contribution	$ 3,593	$ 3,206	$ 3,144
Deferred Compensation Plans
Employee Benefit Plans:
Employer contribution	$ 463	$ 429	$ 325

Income Taxes - Schedule of comp

Income Taxes - Schedule of components of distributions made to common stockholders on a per share basis (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends, dollars per share
Ordinary income (in dollars per share)	$ 0.36	$ 0.49	$ 0.04
Capital gains (in dollars per share)	0.32	0.06	0.15
Return of capital (in dollars per share)	0	0.07	0.41
Dividends paid for income tax purposes (in dollars per share)	$ 0.68	$ 0.62	$ 0.60
Dividends, percent
Ordinary income (as a percent)	53%	79.20%	6%
Capital gains (as a percent)	47%	9.90%	24.90%
Return of capital (as a percent)	0%	10.90%	69.10%
Dividends paid (as a percent)	100%	100%	100%
Percentage of dividend paid categorized as qualified REIT dividends	54.50%
Percentage of dividend paid categorized as qualified dividend income	45.50%

Income Taxes - Schedule of inco

Income Taxes - Schedule of income tax benefit of TRSs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current	$ 0	$ 0	$ 0
Deferred	494	(705)	(6,948)
Income tax benefit (expense)	$ 494	$ (705)	$ (6,948)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of income tax benefit (provision) of the TRSs to the amount computed by applying the federal corporate tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Book loss (income) for TRSs	$ 7,671	$ 2,718	$ (23,205)
Tax at statutory rate on earnings from continuing operations before income taxes	1,611	571	(4,873)
State taxes	220	(116)	(1,261)
Other	(1,337)	(1,160)	(814)
Income tax benefit (expense)	$ 494	$ (705)	$ (6,948)

Income Taxes - Schedule of tax

Income Taxes - Schedule of tax effects of temporary differences and carryforwards of the TRSs included in net deferred tax assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 12,740,000	$ 13,362,000
Property, primarily differences in depreciation and amortization, the tax basis of land assets and treatment of certain other costs	10,396,000	9,019,000
Other	888,000	733,000
Net deferred tax assets	24,024,000	23,114,000
Unrecognized tax benefits	$ 0	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details)	Feb. 02, 2024 $ / shares
Subsequent Event
Subsequent events
Dividends declared for common stock (in dollars per share)	$ 0.17

Schedule III-Real Estate and _2

Schedule III-Real Estate and Accumulated Depreciation - Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Initial Cost to Company
Land	$ 1,395,586
Building and Improvements	4,906,495
Equipment and Furnishings	46,574
Cost Capitalized Subsequent to Acquisition	2,486,952
Gross Amount at Which Carried at Close of Period
Land	1,388,345
Building and Improvements	6,918,273
Equipment and Furnishings	188,493
Construction in Progress	340,496
Total	8,835,607	$ 8,920,580	$ 8,847,550	$ 9,256,712
Accumulated Depreciation	2,935,118	$ 2,792,790	$ 2,563,344	$ 2,562,133
Total Cost Net of Accumulated Depreciation	5,900,489
Chandler Fashion Center
Initial Cost to Company
Land	24,188
Building and Improvements	223,143
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	34,766
Gross Amount at Which Carried at Close of Period
Land	24,188
Building and Improvements	250,937
Equipment and Furnishings	5,878
Construction in Progress	1,094
Total	282,097
Accumulated Depreciation	146,946
Total Cost Net of Accumulated Depreciation	135,151
Danbury Fair Mall
Initial Cost to Company
Land	130,367
Building and Improvements	316,951
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	128,748
Gross Amount at Which Carried at Close of Period
Land	141,479
Building and Improvements	399,159
Equipment and Furnishings	9,649
Construction in Progress	25,779
Total	576,066
Accumulated Depreciation	198,641
Total Cost Net of Accumulated Depreciation	377,425
Desert Sky Mall
Initial Cost to Company
Land	9,447
Building and Improvements	37,245
Equipment and Furnishings	12
Cost Capitalized Subsequent to Acquisition	5,754
Gross Amount at Which Carried at Close of Period
Land	6,843
Building and Improvements	41,975
Equipment and Furnishings	3,634
Construction in Progress	6
Total	52,458
Accumulated Depreciation	18,750
Total Cost Net of Accumulated Depreciation	33,708
Eastland Mall
Initial Cost to Company
Land	22,050
Building and Improvements	151,605
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	15,873
Gross Amount at Which Carried at Close of Period
Land	20,810
Building and Improvements	166,229
Equipment and Furnishings	2,489
Construction in Progress	0
Total	189,528
Accumulated Depreciation	60,637
Total Cost Net of Accumulated Depreciation	128,891
Fashion District Philadelphia
Initial Cost to Company
Land	38,402
Building and Improvements	293,112
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	12,284
Gross Amount at Which Carried at Close of Period
Land	39,962
Building and Improvements	300,480
Equipment and Furnishings	470
Construction in Progress	2,886
Total	343,798
Accumulated Depreciation	28,608
Total Cost Net of Accumulated Depreciation	315,190
Fashion Outlets of Chicago
Initial Cost to Company
Land	0
Building and Improvements	0
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	277,497
Gross Amount at Which Carried at Close of Period
Land	40,575
Building and Improvements	233,061
Equipment and Furnishings	3,861
Construction in Progress	0
Total	277,497
Accumulated Depreciation	94,891
Total Cost Net of Accumulated Depreciation	182,606
Fashion Outlets of Niagara Falls USA
Initial Cost to Company
Land	18,581
Building and Improvements	210,139
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	(39,201)
Gross Amount at Which Carried at Close of Period
Land	6,961
Building and Improvements	180,563
Equipment and Furnishings	1,968
Construction in Progress	27
Total	189,519
Accumulated Depreciation	126,039
Total Cost Net of Accumulated Depreciation	63,480
Freehold Raceway Mall
Initial Cost to Company
Land	164,986
Building and Improvements	362,841
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	126,472
Gross Amount at Which Carried at Close of Period
Land	167,371
Building and Improvements	469,327
Equipment and Furnishings	8,996
Construction in Progress	8,605
Total	654,299
Accumulated Depreciation	259,718
Total Cost Net of Accumulated Depreciation	394,581
Fresno Fashion Fair
Initial Cost to Company
Land	17,966
Building and Improvements	72,194
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	60,230
Gross Amount at Which Carried at Close of Period
Land	17,966
Building and Improvements	129,144
Equipment and Furnishings	3,275
Construction in Progress	5
Total	150,390
Accumulated Depreciation	80,646
Total Cost Net of Accumulated Depreciation	69,744
Green Acres Mall
Initial Cost to Company
Land	156,640
Building and Improvements	321,034
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	229,555
Gross Amount at Which Carried at Close of Period
Land	175,551
Building and Improvements	480,437
Equipment and Furnishings	12,398
Construction in Progress	38,843
Total	707,229
Accumulated Depreciation	183,180
Total Cost Net of Accumulated Depreciation	524,049
Inland Center
Initial Cost to Company
Land	8,321
Building and Improvements	83,550
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	38,240
Gross Amount at Which Carried at Close of Period
Land	10,291
Building and Improvements	119,261
Equipment and Furnishings	532
Construction in Progress	27
Total	130,111
Accumulated Depreciation	46,687
Total Cost Net of Accumulated Depreciation	83,424
Kings Plaza Shopping Center
Initial Cost to Company
Land	209,041
Building and Improvements	485,548
Equipment and Furnishings	20,000
Cost Capitalized Subsequent to Acquisition	294,507
Gross Amount at Which Carried at Close of Period
Land	209,041
Building and Improvements	731,664
Equipment and Furnishings	65,661
Construction in Progress	2,730
Total	1,009,096
Accumulated Depreciation	243,250
Total Cost Net of Accumulated Depreciation	765,846
La Cumbre Plaza
Initial Cost to Company
Land	18,122
Building and Improvements	21,492
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	19,564
Gross Amount at Which Carried at Close of Period
Land	13,856
Building and Improvements	45,152
Equipment and Furnishings	170
Construction in Progress	0
Total	59,178
Accumulated Depreciation	29,550
Total Cost Net of Accumulated Depreciation	29,628
Macerich Management Co.
Initial Cost to Company
Land	1,150
Building and Improvements	10,475
Equipment and Furnishings	26,562
Cost Capitalized Subsequent to Acquisition	16,856
Gross Amount at Which Carried at Close of Period
Land	3,878
Building and Improvements	19,837
Equipment and Furnishings	30,087
Construction in Progress	1,241
Total	55,043
Accumulated Depreciation	28,031
Total Cost Net of Accumulated Depreciation	27,012
MACWH, LP
Initial Cost to Company
Land	0
Building and Improvements	25,771
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	(759)
Gross Amount at Which Carried at Close of Period
Land	0
Building and Improvements	25,012
Equipment and Furnishings	0
Construction in Progress	0
Total	25,012
Accumulated Depreciation	12,535
Total Cost Net of Accumulated Depreciation	12,477
NorthPark Mall
Initial Cost to Company
Land	7,746
Building and Improvements	74,661
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	5,400
Gross Amount at Which Carried at Close of Period
Land	6,939
Building and Improvements	80,089
Equipment and Furnishings	760
Construction in Progress	19
Total	87,807
Accumulated Depreciation	37,837
Total Cost Net of Accumulated Depreciation	49,970
Oaks, The
Initial Cost to Company
Land	32,300
Building and Improvements	117,156
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	276,134
Gross Amount at Which Carried at Close of Period
Land	56,387
Building and Improvements	364,777
Equipment and Furnishings	3,706
Construction in Progress	720
Total	425,590
Accumulated Depreciation	222,165
Total Cost Net of Accumulated Depreciation	203,425
Pacific View
Initial Cost to Company
Land	8,697
Building and Improvements	8,696
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	138,639
Gross Amount at Which Carried at Close of Period
Land	7,854
Building and Improvements	146,562
Equipment and Furnishings	1,616
Construction in Progress	0
Total	156,032
Accumulated Depreciation	94,536
Total Cost Net of Accumulated Depreciation	61,496
Prasada
Initial Cost to Company
Land	6,615
Building and Improvements	0
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	18,714
Gross Amount at Which Carried at Close of Period
Land	0
Building and Improvements	22,969
Equipment and Furnishings	0
Construction in Progress	2,360
Total	25,329
Accumulated Depreciation	5,097
Total Cost Net of Accumulated Depreciation	20,232
Queens Center
Initial Cost to Company
Land	251,474
Building and Improvements	1,039,922
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	73,569
Gross Amount at Which Carried at Close of Period
Land	239,460
Building and Improvements	1,019,341
Equipment and Furnishings	6,093
Construction in Progress	100,071
Total	1,364,965
Accumulated Depreciation	244,828
Total Cost Net of Accumulated Depreciation	1,120,137
Santa Monica Place
Initial Cost to Company
Land	26,400
Building and Improvements	105,600
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	333,744
Gross Amount at Which Carried at Close of Period
Land	43,763
Building and Improvements	342,375
Equipment and Furnishings	6,272
Construction in Progress	73,334
Total	465,744
Accumulated Depreciation	145,652
Total Cost Net of Accumulated Depreciation	320,092
SanTan Adjacent Land
Initial Cost to Company
Land	29,414
Building and Improvements	0
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	12,280
Gross Amount at Which Carried at Close of Period
Land	26,902
Building and Improvements	6,454
Equipment and Furnishings	0
Construction in Progress	8,338
Total	41,694
Accumulated Depreciation	534
Total Cost Net of Accumulated Depreciation	41,160
SanTan Village Regional Center
Initial Cost to Company
Land	7,827
Building and Improvements	0
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	229,920
Gross Amount at Which Carried at Close of Period
Land	5,921
Building and Improvements	225,403
Equipment and Furnishings	2,089
Construction in Progress	4,334
Total	237,747
Accumulated Depreciation	129,383
Total Cost Net of Accumulated Depreciation	108,364
SouthPark Mall
Initial Cost to Company
Land	7,035
Building and Improvements	38,215
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	(9,883)
Gross Amount at Which Carried at Close of Period
Land	2,763
Building and Improvements	32,158
Equipment and Furnishings	446
Construction in Progress	0
Total	35,367
Accumulated Depreciation	19,783
Total Cost Net of Accumulated Depreciation	15,584
Southridge Center
Initial Cost to Company
Land	6,764
Building and Improvements	0
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	6,824
Gross Amount at Which Carried at Close of Period
Land	1,842
Building and Improvements	11,569
Equipment and Furnishings	154
Construction in Progress	23
Total	13,588
Accumulated Depreciation	8,086
Total Cost Net of Accumulated Depreciation	5,502
Stonewood Center
Initial Cost to Company
Land	4,948
Building and Improvements	302,527
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	16,421
Gross Amount at Which Carried at Close of Period
Land	4,935
Building and Improvements	317,895
Equipment and Furnishings	1,066
Construction in Progress	0
Total	323,896
Accumulated Depreciation	87,780
Total Cost Net of Accumulated Depreciation	236,116
Superstition Springs Center
Initial Cost to Company
Land	10,928
Building and Improvements	112,718
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	14,350
Gross Amount at Which Carried at Close of Period
Land	10,928
Building and Improvements	124,688
Equipment and Furnishings	2,380
Construction in Progress	0
Total	137,996
Accumulated Depreciation	40,488
Total Cost Net of Accumulated Depreciation	97,508
The Macerich Partnership, L.P.
Initial Cost to Company
Land	0
Building and Improvements	2,534
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	6,915
Gross Amount at Which Carried at Close of Period
Land	0
Building and Improvements	1,722
Equipment and Furnishings	7,365
Construction in Progress	362
Total	9,449
Accumulated Depreciation	2,552
Total Cost Net of Accumulated Depreciation	6,897
Valley Mall
Initial Cost to Company
Land	16,045
Building and Improvements	26,098
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	13,457
Gross Amount at Which Carried at Close of Period
Land	13,805
Building and Improvements	41,477
Equipment and Furnishings	318
Construction in Progress	0
Total	55,600
Accumulated Depreciation	20,264
Total Cost Net of Accumulated Depreciation	35,336
Valley River Center
Initial Cost to Company
Land	24,854
Building and Improvements	147,715
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	37,862
Gross Amount at Which Carried at Close of Period
Land	24,854
Building and Improvements	183,362
Equipment and Furnishings	2,088
Construction in Progress	127
Total	210,431
Accumulated Depreciation	92,127
Total Cost Net of Accumulated Depreciation	118,304
Victor Valley, Mall of
Initial Cost to Company
Land	15,700
Building and Improvements	75,230
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	58,904
Gross Amount at Which Carried at Close of Period
Land	20,080
Building and Improvements	127,854
Equipment and Furnishings	1,900
Construction in Progress	0
Total	149,834
Accumulated Depreciation	73,378
Total Cost Net of Accumulated Depreciation	76,456
Vintage Faire Mall
Initial Cost to Company
Land	14,902
Building and Improvements	60,532
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	65,126
Gross Amount at Which Carried at Close of Period
Land	17,647
Building and Improvements	121,313
Equipment and Furnishings	1,600
Construction in Progress	0
Total	140,560
Accumulated Depreciation	87,493
Total Cost Net of Accumulated Depreciation	53,067
Wilton Mall
Initial Cost to Company
Land	19,743
Building and Improvements	67,855
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	(2,580)
Gross Amount at Which Carried at Close of Period
Land	11,310
Building and Improvements	72,158
Equipment and Furnishings	1,278
Construction in Progress	272
Total	85,018
Accumulated Depreciation	51,172
Total Cost Net of Accumulated Depreciation	33,846
Other freestanding stores
Initial Cost to Company
Land	47,083
Building and Improvements	111,936
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	(3,388)
Gross Amount at Which Carried at Close of Period
Land	13,717
Building and Improvements	77,822
Equipment and Furnishings	294
Construction in Progress	63,798
Total	155,631
Accumulated Depreciation	12,127
Total Cost Net of Accumulated Depreciation	143,504
Other land and development properties
Initial Cost to Company
Land	37,850
Building and Improvements	0
Equipment and Furnishings	0
Cost Capitalized Subsequent to Acquisition	(25,842)
Gross Amount at Which Carried at Close of Period
Land	466
Building and Improvements	6,047
Equipment and Furnishings	0
Construction in Progress	5,495
Total	12,008
Accumulated Depreciation	1,727
Total Cost Net of Accumulated Depreciation	$ 10,281

Schedule III-Real Estate and _3

Schedule III-Real Estate and Accumulated Depreciation - Depreciation Schedule (Details)	Dec. 31, 2023
Buildings and improvements \| Minimum
REAL ESTATE AND ACCUMULATED DEPRECIATION
Estimated useful lives of assets	5 years
Buildings and improvements \| Maximum
REAL ESTATE AND ACCUMULATED DEPRECIATION
Estimated useful lives of assets	40 years
Tenant improvements \| Minimum
REAL ESTATE AND ACCUMULATED DEPRECIATION
Estimated useful lives of assets	5 years
Tenant improvements \| Maximum
REAL ESTATE AND ACCUMULATED DEPRECIATION
Estimated useful lives of assets	7 years
Equipment and furnishings \| Minimum
REAL ESTATE AND ACCUMULATED DEPRECIATION
Estimated useful lives of assets	5 years
Equipment and furnishings \| Maximum
REAL ESTATE AND ACCUMULATED DEPRECIATION
Estimated useful lives of assets	7 years

Schedule III-Real Estate and _4

Schedule III-Real Estate and Accumulated Depreciation - Property And Accumulated Depreciation Roll forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in total real estate assets
Balances, beginning of year	$ 8,920,580	$ 8,847,550	$ 9,256,712
Additions	257,160	156,445	100,616
Dispositions and retirements	(342,133)	(83,415)	(509,778)
Balances, end of year	8,835,607	8,920,580	8,847,550
Aggregate gross cost of the property for federal income tax purposes	9,080,781
Changes in accumulated depreciation
Balances, beginning of year	2,792,790	2,563,344	2,562,133
Additions	265,140	271,494	282,158
Dispositions and retirements	(122,812)	(42,048)	(280,947)
Balances, end of year	$ 2,935,118	$ 2,792,790	$ 2,563,344