| In millions, except per share items | Dec-31-22 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Malls | | | 699.7 | 783.2 | 848.0 | 928.2 | 944.6 | 933.7 |
| All Other | | | 69.0 | 75.4 | 79.3 | 100.0 | 110.5 | 66.9 |
| Other revenues | | | 6.6 | 4.2 | | | | |
| Associated Centers | | | | | | | | 41.5 |
| Other | | | | | | | | 18.6 |
| Total revenues [+] | 17.9 | 18.5 | 25.2 | 25.3 | 927.3 | 1,028.3 | 1,055.0 | 1,060.7 |
| Tenant reimbursements | | | | | | | 288.3 | 290.6 |
| Management fees | | | | | | | 11.0 | 13.0 |
| Lease / rental | | | | | | 670.6 | 684.3 | 682.6 |
| Other real estate | | | | | | | 31.5 | 35.4 |
| Other | | | | | | 21.4 | | |
| Revenue growth [+] | | -26.4% | -0.3% | -97.3% | -9.8% | -2.5% | -0.5% | 0.7% |
| Malls | | | -10.7% | -7.6% | -8.6% | -1.7% | 1.2% | 0.4% |
| All Other | | | -8.4% | -4.9% | -20.8% | -9.4% | 65.2% | 4.7% |
| Other revenues | | | 58.4% | | | | | |
| Associated Centers | | | | | | | | -0.5% |
| Community Centers | | | | | | | | 3.7% |
| Cost of goods sold [+] | 149.2 | 153.7 | 230.7 | 252.6 | 260.6 | 281.5 | 283.3 | 293.9 |
| Maintenance and operations costs | | | -46.3 | -48.3 | -48.6 | -53.6 | 51.5 | 54.8 |
| Real estate taxes and insurance | 57.1 | 69.7 | -75.5 | -82.3 | -83.9 | -90.1 | 90.8 | 89.3 |
| Real estate or leased property costs | 92.1 | 84.1 | 108.9 | 122.0 | 128.0 | 137.8 | 141.0 | 149.8 |
| Gross profit | -131.4 | -135.2 | -205.5 | -227.4 | 666.7 | 746.8 | 771.7 | 766.8 |
| Gross margin | -736.1% | -729.2% | -815.6% | -900.0% | 71.9% | 72.6% | 73.1% | 72.3% |
| Selling, general and administrative [+] | 0.8 | 1.0 | 64.2 | 61.5 | 58.5 | 63.3 | 62.1 | 50.3 |
| General and administrative | | | 64.2 | 61.5 | 58.5 | 63.3 | 62.1 | 50.3 |
| Equity in earnings | | | 4.9 | 14.7 | 22.9 | 117.5 | 18.2 | 14.8 |
| Other operating expenses | 103.8 | 365.9 | -1,007.8 | -1,035.7 | -222.3 | -79.0 | 27.0 | 32.3 |
| EBITDA [+] | 20.3 | -287.0 | 743.1 | 761.5 | 853.5 | 880.0 | 700.8 | 699.1 |
| EBITDA growth | | -138.6% | -2.4% | -10.8% | -3.0% | 25.6% | 0.2% | 0.2% |
| EBITDA margin | 113.5% | -1547.8% | 2949.6% | 3014.5% | 92.0% | 85.6% | 66.4% | 65.9% |
| Depreciation | 104.1 | 213.6 | 253.2 | 272.1 | 285.8 | 292.7 | 299.1 | 277.3 |
| EBITA | -83.9 | -500.6 | 489.8 | 489.4 | 567.7 | 587.3 | 401.7 | 421.8 |
| EBITA margin | -469.9% | -2699.7% | 1944.4% | 1937.3% | 61.2% | 57.1% | 38.1% | 39.8% |
| Amortization of intangibles | 152.2 | 1.5 | 4.5 | 13.3 | 13.3 | | | 14.0 |
| EBIT [+] | -236.1 | -502.0 | 485.3 | 476.1 | 554.4 | 587.3 | 401.7 | 407.8 |
| EBIT growth | | -203.4% | 1.9% | -14.1% | -5.6% | 46.2% | -1.5% | -1.1% |
| EBIT margin | -1322.5% | -2707.6% | 1926.5% | 1884.7% | 59.8% | 57.1% | 38.1% | 38.4% |
| Non-recurring items [+] | 0.8 | 1.0 | 301.3 | 174.5 | 77.6 | 116.8 | 105.9 | 17.9 |
| Asset impairment | 0.8 | 1.0 | 239.5 | 174.5 | 71.4 | 116.8 | 105.9 | 17.9 |
| Interest expense, net [+] | | | 203.5 | 218.2 | 217.0 | 216.3 | 222.9 | 225.7 |
| Interest expense | | | 206.3 | 220.0 | 218.7 | 216.3 | 229.3 | 239.8 |
| Interest income | | | 2.8 | 1.9 | 1.7 | | 6.5 | 14.1 |
| Other income (expense), net [+] | 146.5 | 224.7 | -115.4 | -181.1 | -102.8 | -56.6 | 43.2 | 84.2 |
| Gain (loss) on investments | | | 67.2 | | -6.2 | 7.5 | 16.6 | 87.9 |
| Gain (loss) on debt retirement | | | 71.7 | | 30.9 | | 0.3 | 87.9 |
| Other | | | | | | -58.1 | | |
| Pre-tax income | -90.4 | -278.2 | -134.9 | -97.7 | 157.0 | 197.6 | 116.1 | 248.5 |
| Income taxes | 3.1 | 16.8 | -3.2 | 1.6 | -1.9 | 2.1 | -2.9 | -4.5 |
| Tax rate | | | 2.3% | | | 1.0% | | |
| Minority interest | 0.0 | -19.8 | 23.7 | 19.7 | -25.4 | -21.5 | -10.2 | -3.8 |
| Earnings from continuing ops | -93.5 | -295.1 | -153.7 | -123.5 | 76.0 | 128.0 | 58.5 | 174.0 |
| Earnings from discontinued ops | | | | | | | | 0.3 |
| Net income | -93.5 | -295.1 | -153.7 | -123.5 | 76.0 | 128.0 | 58.5 | 174.3 |
| Net margin | -523.7% | -1591.5% | -610.0% | -488.7% | 8.2% | 12.4% | 5.5% | 16.4% |
| |
| Basic EPS [+] | ($3.11) | ($1.55) | ($0.89) | ($0.72) | $0.44 | $0.75 | $0.34 | $1.02 |
| Growth | | 75.0% | 23.8% | -261.0% | -40.7% | 118.5% | -66.4% | 335.8% |
| Diluted EPS [+] | ($3.11) | ($1.55) | ($0.89) | ($0.72) | $0.44 | $0.75 | $0.34 | $1.02 |
| Growth | | 75.0% | 23.8% | -261.0% | -40.7% | 118.4% | -66.4% | 335.8% |
| |
| Dividends per share [+] | $0.79 | | $0.08 | $0.68 | $995.00 | $1.06 | $1.06 | $0.98 |
| Growth | | -100.0% | -88.9% | -99.9% | 93792.7% | 0.0% | 8.2% | 8.1% |
| |
| Shares outstanding (basic) [+] | 30.0 | 190.3 | 173.4 | 172.5 | 171.1 | 170.8 | 170.5 | 170.2 |
| Growth | | 9.7% | 0.6% | 0.8% | 0.2% | 0.2% | 0.1% | 1.9% |
| Shares outstanding (diluted) [+] | 30.0 | 190.3 | 173.4 | 172.5 | 171.1 | 170.8 | 170.5 | 170.2 |
| Growth | | 9.7% | 0.6% | 0.8% | 0.1% | 0.2% | 0.1% | 1.9% |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |