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10-Q Filing

MACERICH CO CIK: 912242 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000912242-17-000006
Period End Date 20170331
Filing Date 20170501
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance mac-20170331.xml
Filing Contents
Balance Sheet 61 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Property, net RealEstateInvestmentPropertyNet $7.36B USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Property, net RealEstateInvestmentPropertyNet $7.21B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $94.05M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $86.51M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $106.50M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 143.99M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 141.91M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $92.30M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $49.95M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $50.01M USD Point-in-time
Common Stock, shares outstanding CommonStockSharesOutstanding 143.99M shares Point-in-time
Common Stock, shares outstanding CommonStockSharesOutstanding 141.91M shares Point-in-time
Tenant and other receivables, net AccountsAndNotesReceivableNet $112.52M USD Point-in-time
Tenant and other receivables, net AccountsAndNotesReceivableNet $137.00M USD Point-in-time
Deferred charges and other assets, net DeferredCostsAndOtherAssets $478.06M USD Point-in-time
Deferred charges and other assets, net DeferredCostsAndOtherAssets $459.82M USD Point-in-time
Due from affiliates DueFromAffiliates $68.23M USD Point-in-time
Due from affiliates DueFromAffiliates $80.19M USD Point-in-time
Investments in unconsolidated joint ventures EquityMethodInvestments $1.77B USD Point-in-time
Investments in unconsolidated joint ventures EquityMethodInvestments $1.71B USD Point-in-time
Total assets Assets $9.96B USD Point-in-time
Total assets Assets $9.71B USD Point-in-time
Related parties NotesPayableRelatedPartiesCurrentAndNoncurrent $175.25M USD Point-in-time
Related parties NotesPayableRelatedPartiesCurrentAndNoncurrent $176.44M USD Point-in-time
Others SecuredDebtNonrelatedParty $3.83B USD Point-in-time
Others SecuredDebtNonrelatedParty $3.91B USD Point-in-time
Total SecuredDebt $4.01B USD Point-in-time
Total SecuredDebt $4.09B USD Point-in-time
Bank and other notes payable ConvertibleDebtLineOfCreditAndOtherNotesPayable $880.48M USD Point-in-time
Bank and other notes payable ConvertibleDebtLineOfCreditAndOtherNotesPayable $895.89M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $63.40M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $61.32M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrentAndNoncurrent $317.21M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrentAndNoncurrent $366.17M USD Point-in-time
Distributions in excess of investments in unconsolidated joint ventures InvestmentsInUnconsolidatedJointVentures $78.63M USD Point-in-time
Distributions in excess of investments in unconsolidated joint ventures InvestmentsInUnconsolidatedJointVentures $96.60M USD Point-in-time
Co-venture obligation DeferredGainOnSaleOfProperty $58.55M USD Point-in-time
Co-venture obligation DeferredGainOnSaleOfProperty $58.97M USD Point-in-time
Total liabilities Liabilities $5.44B USD Point-in-time
Total liabilities Liabilities $5.53B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.01 par value, 250,000,000 shares authorized, 141,912,477 and 143,985,036 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively CommonStockValue $1.42M USD Point-in-time
Common stock, $0.01 par value, 250,000,000 shares authorized, 141,912,477 and 143,985,036 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively CommonStockValue $1.44M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.53B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.59B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-574.60M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-488.78M USD Point-in-time
Total stockholders' equity StockholdersEquity $3.96B USD Point-in-time
Total stockholders' equity StockholdersEquity $4.11B USD Point-in-time
Noncontrolling interests MinorityInterest $316.44M USD Point-in-time
Noncontrolling interests MinorityInterest $321.28M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.27B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.43B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $9.71B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $9.96B USD Point-in-time
Income Statement 54 line items
Line Item Tag Value Unit Period
Minimum rents OperatingLeasesIncomeStatementMinimumLeaseRevenue $151.05M USD 1 Quarter
Minimum rents OperatingLeasesIncomeStatementMinimumLeaseRevenue $145.56M USD 1 Quarter
Percentage rents PercentageRent $3.01M USD 1 Quarter
Percentage rents PercentageRent $1.92M USD 1 Quarter
Tenant recoveries TenantReimbursements $72.41M USD 1 Quarter
Tenant recoveries TenantReimbursements $80.17M USD 1 Quarter
Other OtherIncome $15.26M USD 1 Quarter
Other OtherIncome $13.15M USD 1 Quarter
Management Companies ManagementFeesAndOtherRevenues $8.62M USD 1 Quarter
Management Companies ManagementFeesAndOtherRevenues $11.90M USD 1 Quarter
Total revenues Revenues $256.00M USD 1 Quarter
Total revenues Revenues $247.04M USD 1 Quarter
Shopping center and operating expenses CostOfRealEstateRevenue $75.90M USD 1 Quarter
Shopping center and operating expenses CostOfRealEstateRevenue $79.32M USD 1 Quarter
Management Companies' operating expenses OwnedPropertyManagementCosts $27.90M USD 1 Quarter
Management Companies' operating expenses OwnedPropertyManagementCosts $28.52M USD 1 Quarter
REIT general and administrative expenses GeneralAndAdministrativeExpense $8.46M USD 1 Quarter
REIT general and administrative expenses GeneralAndAdministrativeExpense $8.63M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $86.93M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $83.07M USD 1 Quarter
Total expenses before interest CostsAndExpensesBeforeInterestTotal $195.95M USD 1 Quarter
Total expenses before interest CostsAndExpensesBeforeInterestTotal $202.78M USD 1 Quarter
Related parties RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty $2.21M USD 1 Quarter
Related parties RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty $2.27M USD 1 Quarter
Other InterestExpenseOther $37.50M USD 1 Quarter
Other InterestExpenseOther $39.09M USD 1 Quarter
Total interest expense InterestExpense $39.78M USD 1 Quarter
Total interest expense InterestExpense $41.30M USD 1 Quarter
Loss on extinguishment of debt GainsLossesonExtinguishmentofDebtIncludingPenalties - USD 1 Quarter
Loss on extinguishment of debt GainsLossesonExtinguishmentofDebtIncludingPenalties $-3.58M USD 1 Quarter
Total expenses CostsAndExpenses $237.25M USD 1 Quarter
Total expenses CostsAndExpenses $246.13M USD 1 Quarter
Equity in income of unconsolidated joint ventures IncomeLossFromEquityMethodInvestments $15.84M USD 1 Quarter
Equity in income of unconsolidated joint ventures IncomeLossFromEquityMethodInvestments $11.66M USD 1 Quarter
Co-venture expense IncomeLossFromCoventureOperations $-3.29M USD 1 Quarter
Co-venture expense IncomeLossFromCoventureOperations $-3.88M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $1.32M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $-3.48M USD 1 Quarter
Gain on sale or write down of assets, net GainLossOnSalesOfAssetsAndAssetImpairmentCharges $434.46M USD 1 Quarter
Gain on sale or write down of assets, net GainLossOnSalesOfAssetsAndAssetImpairmentCharges $49.56M USD 1 Quarter
Net income ProfitLoss $74.81M USD 1 Quarter
Net income ProfitLoss $451.38M USD 1 Quarter
Less net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $30.46M USD 1 Quarter
Less net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $5.57M USD 1 Quarter
Net income attributable to the Company NetIncomeLossAvailableToCommonStockholdersBasic $420.92M USD 1 Quarter
Net income attributable to the Company NetIncomeLossAvailableToCommonStockholdersBasic $69.24M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $2.77 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.48 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.48 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $2.76 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 143.60M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 151.98M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 143.66M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 152.10M shares 1 Quarter
Cash Flow Statement 94 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $74.81M USD 1 Quarter
Net income ProfitLoss $451.38M USD 1 Quarter
Loss on early extinguishment of debt, net GainsLossesOnExtinguishmentOfDebt $-3.58M USD 1 Quarter
Loss on early extinguishment of debt, net GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Gain on sale or write down of assets, net GainLossonSaleorWriteDownofAssets $434.46M USD 1 Quarter
Gain on sale or write down of assets, net GainLossonSaleorWriteDownofAssets $49.56M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $84.55M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $88.18M USD 1 Quarter
Amortization of net premium on mortgage notes payable AmortizationOfDebtDiscountPremium $-1.05M USD 1 Quarter
Amortization of net premium on mortgage notes payable AmortizationOfDebtDiscountPremium $-926.00K USD 1 Quarter
Amortization of share and unit-based plans ShareBasedCompensation $13.80M USD 1 Quarter
Amortization of share and unit-based plans ShareBasedCompensation $16.44M USD 1 Quarter
Straight-line rent adjustment StraightLineRentAdjustments $-910.00K USD 1 Quarter
Straight-line rent adjustment StraightLineRentAdjustments $-1.88M USD 1 Quarter
Amortization of above and below-market leases AmortizationOfAboveAndBelowMarketLeases $193.00K USD 1 Quarter
Amortization of above and below-market leases AmortizationOfAboveAndBelowMarketLeases $-1.64M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $1.32M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $919.00K USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $1.32M USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $-3.48M USD 1 Quarter
Equity in income of unconsolidated joint ventures IncomeLossFromEquityMethodInvestments $15.84M USD 1 Quarter
Equity in income of unconsolidated joint ventures IncomeLossFromEquityMethodInvestments $11.66M USD 1 Quarter
Distributions of income from unconsolidated joint ventures EquityMethodInvestmentDividendsOrDistributions $2.04M USD 1 Quarter
Distributions of income from unconsolidated joint ventures EquityMethodInvestmentDividendsOrDistributions - USD 1 Quarter
Co-venture expense IncomeLossFromCoventureOperations $-3.29M USD 1 Quarter
Co-venture expense IncomeLossFromCoventureOperations $-3.88M USD 1 Quarter
Tenant and other receivables IncreaseDecreaseInAccountsReceivable $-4.69M USD 1 Quarter
Tenant and other receivables IncreaseDecreaseInAccountsReceivable $-8.76M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $9.74M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-12.62M USD 1 Quarter
Due from affiliates IncreaseDecreaseDueFromAffiliates $12.02M USD 1 Quarter
Due from affiliates IncreaseDecreaseDueFromAffiliates $-11.12M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-6.17M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $4.29M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $-17.79M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $2.56M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $102.70M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $119.87M USD 1 Quarter
Development, redevelopment, expansion and renovation of properties PaymentsToAcquireAndDevelopRealEstate $60.90M USD 1 Quarter
Development, redevelopment, expansion and renovation of properties PaymentsToAcquireAndDevelopRealEstate $33.01M USD 1 Quarter
Property improvements PaymentsToDevelopRealEstateAssets $5.31M USD 1 Quarter
Property improvements PaymentsToDevelopRealEstateAssets $4.35M USD 1 Quarter
Proceeds from repayment of notes receivable ProceedsFromCollectionOfNotesReceivable $932.00K USD 1 Quarter
Proceeds from repayment of notes receivable ProceedsFromCollectionOfNotesReceivable $212.00K USD 1 Quarter
Deferred leasing costs IncreaseDecreaseInDeferredLeasingFees $7.36M USD 1 Quarter
Deferred leasing costs IncreaseDecreaseInDeferredLeasingFees $11.27M USD 1 Quarter
Distributions from unconsolidated joint ventures DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther $181.90M USD 1 Quarter
Distributions from unconsolidated joint ventures DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther $114.53M USD 1 Quarter
Contributions to unconsolidated joint ventures PaymentsToAcquireInterestInJointVenture $350.67M USD 1 Quarter
Contributions to unconsolidated joint ventures PaymentsToAcquireInterestInJointVenture $26.59M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet $600.66M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet $167.65M USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $63.00K USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $849.00K USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $207.10M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $358.42M USD 1 Quarter
Proceeds from mortgages, bank and other notes payable ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet $2.13B USD 1 Quarter
Proceeds from mortgages, bank and other notes payable ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet $200.00M USD 1 Quarter
Payments on mortgages, bank and other notes payable RepaymentsOfLongTermDebtAndCapitalSecurities $263.93M USD 1 Quarter
Payments on mortgages, bank and other notes payable RepaymentsOfLongTermDebtAndCapitalSecurities $1.71B USD 1 Quarter
Deferred financing costs PaymentsOfFinancingCosts $1.93M USD 1 Quarter
Deferred financing costs PaymentsOfFinancingCosts $142.00K USD 1 Quarter
Payment of debt extinguishment costs PaymentsOfDebtExtinguishmentCosts $12.03M USD 1 Quarter
Payment of debt extinguishment costs PaymentsOfDebtExtinguishmentCosts - USD 1 Quarter
Stock repurchases PaymentsForRepurchaseOfCommonStock $400.02M USD 1 Quarter
Stock repurchases PaymentsForRepurchaseOfCommonStock $132.55M USD 1 Quarter
Redemption of noncontrolling interests PaymentsToMinorityShareholders $15.00K USD 1 Quarter
Redemption of noncontrolling interests PaymentsToMinorityShareholders $30.00K USD 1 Quarter
Dividends and distributions PaymentsOfDividendsCommonStock $452.23M USD 1 Quarter
Dividends and distributions PaymentsOfDividendsCommonStock $110.62M USD 1 Quarter
Distributions to co-venture partner DistributionsToCoVenturePartner $4.30M USD 1 Quarter
Distributions to co-venture partner DistributionsToCoVenturePartner $5.11M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-311.56M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-458.29M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $20.00M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-1.75M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $94.05M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $86.51M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $106.50M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $92.30M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $94.05M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $86.51M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $106.50M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $92.30M USD Point-in-time
Cash payments for interest, net of amounts capitalized InterestPaidNet $32.07M USD 1 Quarter
Cash payments for interest, net of amounts capitalized InterestPaidNet $40.46M USD 1 Quarter
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities ConstructionInProgressExpendituresIncurredButNotYetPaid $24.71M USD 1 Quarter
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities ConstructionInProgressExpendituresIncurredButNotYetPaid $22.89M USD 1 Quarter
Accrued stock repurchase costs AccruedStockRepurchaseCosts - USD 1 Quarter
Accrued stock repurchase costs AccruedStockRepurchaseCosts $8.55M USD 1 Quarter
Mortgage notes payable assumed in exchange for investments in unconsolidated joint ventures NotesAssumed1 $997.70M USD 1 Quarter
Mortgage notes payable assumed in exchange for investments in unconsolidated joint ventures NotesAssumed1 - USD 1 Quarter
Conversion of Operating Partnership Units to common stock ConversionOfStockAmountConverted1 $638.00K USD 1 Quarter
Conversion of Operating Partnership Units to common stock ConversionOfStockAmountConverted1 $3.11M USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Distributions declared, per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.71 USD 1 Quarter
Balance (in shares) CommonStockSharesIssued 143.99M shares Point-in-time
Balance (in shares) CommonStockSharesIssued 141.91M shares Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.27B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.43B USD Point-in-time
Net income ProfitLoss $74.81M USD 1 Quarter
Net income ProfitLoss $451.38M USD 1 Quarter
Cumulative effect of adoption of ASU 2016-09 CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption $6.48M USD Point-in-time
Amortization of share and unit-based plans StockIssuedDuringPeriodValueShareBasedCompensation $17.17M USD 1 Quarter
Stock repurchases StockRepurchasedDuringPeriodValue $141.10M USD 1 Quarter
Distributions declared ($0.71) per share DividendsCommonStockCash $102.27M USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $8.35M USD 1 Quarter
Redemption of noncontrolling interests MinorityInterestDecreaseFromRedemptions $15.00K USD 1 Quarter
Balance (in shares) CommonStockSharesIssued 143.99M shares Point-in-time
Balance (in shares) CommonStockSharesIssued 141.91M shares Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.27B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.43B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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