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(Loss) gain on the disposition of assets, net

38,744

49,669

76,373

161,058

Discontinued operations:

(7,767)

134,145

(Loss) income from discontinued operations

(1,077)

2,967

Total (loss) income from discontinued operations

(8,844)

137,112

Net income

38,744

40,825

76,373

298,170

Less net income attributable to noncontrolling interests

2,830

2,702

6,552

22,958

Net income attributable to the Company

$ 35,914

$ 38,123

$ 69,821

$ 275,212

Earnings per common share attributable to Company—basic: (in dollars per share)

$ 0.25

$ 0.33

$ 0.49

$ 1.05

0.00

(0.06)

0.00

0.92

Earnings per common share attributable to Company—diluted: (in dollars per share)

0.25

0.27

0.49

1.97

0.25

0.33

0.49

1.05

0.00

(0.06)

0.00

0.92

Weighted average number of common shares outstanding: (in shares)

$ 0.25

$ 0.27

$ 0.49

$ 1.97

Basic

140,916

140,712

140,859

139,219

Diluted

^[1]

141,060

140,773

140,975

139,320

[1]

Diluted EPS excludes 184,304 convertible preferred units for the three and nine months ended September 30, 2014 and 2013 as their impact was antidilutive.Diluted EPS excludes 10,110,716 and 9,621,313 Operating Partnership units ("OP Units") for the three months ended September 30, 2014 and 2013, respectively, and 10,072,321 and 9,920,197 OP Units for the nine months ended September 30, 2014 and 2013, respectively, as their impact was antidilutive.

CONSOLIDATED STATEMENT OF EQUITY - 9 months ended Sep. 30, 2014 - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Noncontrolling Interests
Balance (in shares) at Dec. 31, 2013	140,733,683		140,733,683
Balance at Dec. 31, 2013	$ 3,718,717	$ 3,358,749	$ 1,407	$ 3,906,148	$ (548,806)	$ 359,968
Increase (Decrease) in Stockholders' Equity
Net income	76,373	69,821			69,821	6,552
Amortization of share and unit-based compensation plans (in shares)			101,511
Amortization of share and unit-based compensation plans	30,103	30,103	$ 1	30,102
Employee stock purchases (in shares)			13,957
Employee stock purchases	645	645		645
Distributions paid ($1.86) per share	(261,921)	(261,921)			(261,921)
Distributions to noncontrolling interests	(24,285)					(24,285)
Other	(343)	(343)		(343)
Conversion of noncontrolling interests to common shares (in shares)			71,333
Conversion of noncontrolling interests to common shares		984	$ 1	983		(984)
Redemption of noncontrolling interests	$ (236)	(157)		(157)		(79)
Adjustment of noncontrolling interest in Operating Partnership		(7,061)		(7,061)		7,061
Balance (in shares) at Sep. 30, 2014	140,920,484		140,920,484.000
Balance at Sep. 30, 2014	$ 3,539,053	$ 3,190,820	$ 1,409	$ 3,930,317	$ (740,906)	$ 348,233

CONSOLIDATED STATEMENT OF EQUITY (Parenthetical)	9 Months Ended
CONSOLIDATED STATEMENT OF EQUITY (Parenthetical)	Sep. 30, 2014 $ / shares
Statement of Stockholders' Equity [Abstract]
Distributions paid, per share (in dollars per share)	$ 1.86

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net income	$ 76,373	$ 298,170
Adjustments to reconcile net income to net cash provided by operating activities:
Loss (gain) on extinguishment of debt	405	(1,938)
Loss (gain) on remeasurement, sale or write down of assets, net	1,504	(12,279)
Gain on the disposition of assets, net from discontinued operations	0	(134,145)
Depreciation and amortization	273,765	285,933
Amortization of net premium on mortgage notes payable	(4,056)	(5,502)
Amortization of share and unit-based plans	25,217	13,913
Straight-line rent adjustment	(4,440)	(6,201)
Amortization of above and below-market leases	(5,730)	(4,745)
Provision for doubtful accounts	3,452	3,231
Income tax benefit	(3,759)	(2,263)
Equity in income of unconsolidated joint ventures	(44,607)	(145,477)
Distributions of income from unconsolidated joint ventures	886	8,538
Co-venture expense	6,175	6,232
Changes in assets and liabilities, net of acquisitions and dispositions:
Tenant and other receivables	(1,416)	4,314
Other assets	(7,011)	7,088
Due from affiliates	(1,290)	(1,901)
Accounts payable and accrued expenses	780	10,355
Other accrued liabilities	(19,342)	5,533
Net cash provided by operating activities	296,906	328,856
Cash flows from investing activities:
Acquisitions of property	(15,233)	(492,577)
Development, redevelopment, expansion and renovation of properties	(129,750)	(158,682)
Property improvements	(32,375)	(21,752)
Issuance of notes receivable	0	(13,330)
Collections on notes receivable	3,169	8,347
Proceeds from maturities of marketable securities	0	23,769
Deferred leasing costs	(19,402)	(21,774)
Distributions from unconsolidated joint ventures	55,688	596,669
Contributions to unconsolidated joint ventures	(257,963)	(66,772)
Collection of/loans to unconsolidated joint ventures, net	(605)	609
Proceeds from sale of assets	51,350	327,059
Restricted cash	2,722	52,892
Net cash (used in) provided by investing activities	(342,399)	234,458
Cash flows from financing activities:
Proceeds from mortgages, bank and other notes payable	580,967	2,239,853
Payments on mortgages, bank and other notes payable	(229,099)	(2,694,945)
Deferred financing costs	(1,126)	(11,053)
Net proceeds from stock offerings	0	171,121
Proceeds from share and unit-based plans	645	558
Redemption of noncontrolling interests	(236)	(1,022)
Contribution from noncontrolling interests	0	4,127
Contingent consideration paid	(18,667)	0
Dividends and distributions	(286,206)	(261,142)
Distributions to co-venture partner	(12,021)	(14,496)
Net cash provided by (used in) financing activities	34,257	(566,999)
Net decrease in cash and cash equivalents	(11,236)	(3,685)
Cash and cash equivalents, beginning of period	69,715	65,793
Cash and cash equivalents, end of period	58,479	62,108
Supplemental cash flow information:
Cash payments for interest, net of amounts capitalized	136,233	156,446
Non-cash investing and financing transactions:
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities	50,817	23,666
Acquisition of properties by assumption of mortgage note payable and other accrued liabilities	0	109,858
Assumption of mortgage note payable and other liabilities from unconsolidated joint ventures	0	54,271
Mortgage notes payable settled by deed-in-lieu of foreclosure	0	84,000
Acquisition of property in exchange for investment in unconsolidated joint venture	15,767	0
Notes receivable issued in connection with sale of property	9,603	0
Application of deposit to acquire property	0	30,000
Conversion of noncontrolling interests to common shares	$ 984	$ 12,984

Organization:	9 Months Ended
Organization:	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization:	Organization: The Macerich Company (the "Company") is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers (the "Centers") located throughout the United States. The Company commenced operations effective with the completion of its initial public offering on March 16, 1994. As of September 30, 2014, the Company was the sole general partner of, and held a 93% ownership interest in, The Macerich Partnership, L.P. (the "Operating Partnership"). The Company was organized to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, Macerich Property Management Company, LLC, a single member Delaware limited liability company, Macerich Management Company, a California corporation, Macerich Arizona Partners LLC, a single member Arizona limited liability company, Macerich Arizona Management LLC, a single member Delaware limited liability company, Macerich Partners of Colorado LLC, a single member Colorado limited liability company, MACW Mall Management, Inc., a New York corporation, and MACW Property Management, LLC, a single member New York limited liability company. All seven of the management companies are collectively referred to herein as the "Management Companies." All references to the Company in this Quarterly Report on Form 10-Q include the Company, those entities owned or controlled by the Company and predecessors of the Company, unless the context indicates otherwise.

Summary of Significant Accounting Policies:	9 Months Ended
Summary of Significant Accounting Policies:	Sep. 30, 2014
Accounting Policies [Abstract]
Summary of Significant Accounting Policies:	Summary of Significant Accounting Policies: Basis of Presentation: The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by independent public accountants. The accompanying consolidated financial statements include the accounts of the Company and the Operating Partnership. Investments in entities in which the Company has a controlling financial interest or entities that meet the definition of a variable interest entity 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 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 are consolidated; otherwise they are accounted for under the equity method of accounting and are reflected as investments in unconsolidated joint ventures. All intercompany accounts and transactions have been eliminated in the consolidated financial statements. The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of December 31, 2013 has been derived from the audited financial statements but does not include all disclosures required by GAAP. Recent Accounting Pronouncements: On April 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2014-08, which amends the definition of discontinued operations and requires additional disclosures for disposal transactions that do not meet the revised discontinued operations criteria. ASU 2014-08 is required to be adopted for fiscal years beginning after December 15, 2014, with early adoption permitted. The Company's early adoption of this pronouncement on January 1, 2014 did not have a material impact on the Company's consolidated financial statements.

Earnings per Share ("EPS"):

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings per Share ("EPS"):

The following table reconciles the numerator and denominator used in the computation of earnings per share for the three and nine months ended September 30, 2014 and 2013 (shares in thousands):



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2014			2013			2014			2013
Numerator
Income from continuing operations	$	38,744		$	49,669		$	76,373		$	161,058
(Loss) income from discontinued operations	—			(8,844		)	—			137,112
Net income attributable to noncontrolling interests	(2,830		)	(2,702		)	(6,552		)	(22,958		)
Net income attributable to the Company	35,914			38,123			69,821			275,212
Allocation of earnings to participating securities	(122		)	(80		)	(373		)	(257		)
Numerator for basic and diluted earnings per share—net income attributable to common stockholders	$	35,792		$	38,043		$	69,448		$	274,955
Denominator
Denominator for basic earnings per share—weighted average number of common shares outstanding	140,916			140,712			140,859			139,219
Effect of dilutive securities:(1)
Share and unit-based compensation plans	144			61			116			101
Denominator for diluted earnings per share—weighted average number of common shares outstanding	141,060			140,773			140,975			139,320
Earnings per common share—basic:
Income from continuing operations	$	0.25		$	0.33		$	0.49		$	1.05
Discontinued operations	—			(0.06		)	—			0.92
Net income attributable to common stockholders	$	0.25		$	0.27		$	0.49		$	1.97
Earnings per common share—diluted:
Income from continuing operations	$	0.25		$	0.33		$	0.49		$	1.05
Discontinued operations	—			(0.06		)	—			0.92
Net income attributable to common stockholders	$	0.25		$	0.27		$	0.49		$	1.97


(1)	Diluted EPS excludes 184,304 convertible preferred units for the three and nine months ended September 30, 2014 and 2013 as their impact was antidilutive.

Diluted EPS excludes 10,110,716 and 9,621,313 Operating Partnership units ("OP Units") for the three months ended September 30, 2014 and 2013, respectively, and 10,072,321 and 9,920,197 OP Units for the nine months ended September 30, 2014 and 2013, respectively, as their impact was antidilutive.

Investments in Unconsolidated Joint Ventures:

9 Months Ended

Sep. 30, 2014

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Joint Ventures:

The Company has made the following recent investments and dispositions relating to its unconsolidated joint ventures:

On May 29, 2013, the Company's joint venture in Pacific Premier Retail LP sold Redmond Town Center Office, a 582,000 square foot office building in Redmond, Washington, for $185,000, resulting in a gain on the sale of assets of $89,157 to the joint venture. The Company's share of the gain was $44,424, which was included in equity in income of unconsolidated joint ventures. The Company used its share of the proceeds from the sale to pay down its line of credit and for general corporate purposes.

On June 12, 2013, the Company's joint venture in Pacific Premier Retail LP sold Kitsap Mall, an 846,000 square foot regional shopping center in Silverdale, Washington, for $127,000, resulting in a gain on the sale of assets of $55,150 to the joint venture. The Company's share of the gain was $28,127, which was included in equity in income of unconsolidated joint ventures. The Company used its share of the proceeds from the sale to pay down its line of credit and for general corporate purposes.

On August 1, 2013, the Company's joint venture in Pacific Premier Retail LP sold Redmond Town Center, a 695,000 square foot community center in Redmond, Washington, for $127,000, resulting in a gain on the sale of assets of $38,447 to the joint venture. The Company's share of the gain was $18,251, which was included in equity in income of unconsolidated joint ventures. The Company used its share of the proceeds from the sale to pay down its line of credit and for general corporate purposes.

On September 17, 2013, the Company’s joint venture in Camelback Colonnade, a 619,000 square foot community center in Phoenix, Arizona, was restructured. As a result of the restructuring, the Company’s ownership interest in Camelback Colonnade decreased from 73.2% to 67.5%. Prior to the restructuring, the Company had accounted for its investment in Camelback Colonnade under the equity method of accounting due to substantive participation rights held by the outside partners. Upon completion of the restructuring, these substantive participation rights were terminated and the Company obtained voting control of the joint venture. This transaction is referred to herein as the "Camelback Colonnade Restructuring." Since the date of the restructuring, the Company has included Camelback Colonnade in its consolidated financial statements (See Note 13—Acquisitions).

On October 8, 2013, the Company's joint venture in Ridgmar Mall, a 1,273,000 square foot regional shopping center in Fort Worth, Texas, sold the property for $60,900, resulting in a gain on the sale of assets of $6,243 to the joint venture. The Company's share of the gain was $3,121, which was included in equity in income from joint ventures. The cash proceeds from the sale were used to pay off the $51,657 mortgage loan on the property and the remaining $9,243, net of closing costs, was distributed to the partners. The Company used its share of the proceeds from the sale to pay down its line of credit and for general corporate purposes.

On October 24, 2013, the Company acquired the remaining 33.3% ownership interest in Superstition Springs Center, a 1,082,000 square foot regional shopping center in Mesa, Arizona, that it did not own for $46,162. The purchase price was funded by a cash payment of $23,662 and the assumption of the third party's pro rata share of the mortgage note payable on the property of $22,500. Prior to the acquisition, the Company had accounted for its investment in Superstition Springs Center under the equity method. Since the date of acquisition, the Company has included Superstition Springs Center in its consolidated financial statements (See Note 13—Acquisitions).

On June 4, 2014, the Company acquired the remaining 49.0% ownership interest in Cascade Mall, a 593,000 square foot regional shopping center in Burlington, Washington, that it did not own for a cash payment of $15,233. The Company purchased Cascade Mall from its joint venture in Pacific Premier Retail LP. Prior to the acquisition, the Company had accounted for its investment in Cascade Mall under the equity method. Since the date of acquisition, the Company has included Cascade Mall in its consolidated financial statements (See Note 13—Acquisitions).

On July 30, 2014, the Company formed a joint venture with Pennsylvania Real Estate Investment Trust to redevelop The Gallery, a 1,405,000 square foot regional shopping center in Philadelphia, Pennsylvania. The Company invested $106,800 for a 50% interest in the joint venture, which was funded by borrowings under its line of credit.

On August 28, 2014, the Company sold its 30% ownership interest in Wilshire Boulevard, a 40,000 square foot freestanding store in Santa Monica, California, for a total sales price of $17,100, resulting in a gain on the sale of assets of $9,033, which was included in gain (loss) on remeasurement, sale or write down of assets, net. The sales price was funded by a cash payment of $15,386 and the assumption of the Company's share of the mortgage note payable on the property of $1,714. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes.

Combined and condensed balance sheets and statements of operations are presented below for all unconsolidated joint ventures.

Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:



	September 30, 2014			December 31, 2013
Assets(1):
Properties, net	$	3,798,082		$	3,435,737
Other assets	305,649			295,719
Total assets	$	4,103,731		$	3,731,456
Liabilities and partners' capital(1):
Mortgage notes payable(2)	$	3,420,951		$	3,518,215
Other liabilities	242,861			202,444
Company's capital (deficit)	200,943			(25,367		)
Outside partners' capital	238,976			36,164
Total liabilities and partners' capital	$	4,103,731		$	3,731,456
Investments in unconsolidated joint ventures:
Company's capital (deficit)	$	200,943		$	(25,367	)
Basis adjustment(3)	472,808			474,658
	$	673,751		$	449,291

Assets—Investments in unconsolidated joint ventures	$	927,424		$	701,483
Liabilities—Distributions in excess of investments in unconsolidated joint ventures	(253,673		)	(252,192		)
	$	673,751		$	449,291


(1)	These amounts include the assets and liabilities of the following joint ventures as of September 30, 2014 and December 31, 2013:



	Pacific Premier Retail LP		Tysons Corner LLC
As of September 30, 2014:
Total Assets	$	736,872	$	340,973
Total Liabilities	$	813,400	$	873,896
As of December 31, 2013:
Total Assets	$	775,012	$	356,871
Total Liabilities	$	812,725	$	887,413

(2)

Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of September 30, 2014 and December 31, 2013, a total of $33,540 could become recourse debt to the Company. As of September 30, 2014 and December 31, 2013, the Company had an indemnity agreement from a joint venture partner for $16,770 of the guaranteed amount.

Included in mortgage notes payable are amounts due to affiliates of Northwestern Mutual Life ("NML") of $703,589 and $712,455 as of September 30, 2014 and December 31, 2013, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates—Broadway Plaza. Interest expense on these borrowings was $9,645 and $7,920 for the three months ended September 30, 2014 and 2013, respectively, and $28,992 and $21,717 for the nine months ended September 30, 2014 and 2013, respectively.

(3)

The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was $948 and $3,860 for the three months ended September 30, 2014 and 2013, respectively, and $3,227 and $9,753 for the nine months ended September 30, 2014 and 2013, respectively.

Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:



	Pacific Premier Retail LP			Tysons Corner LLC			Other Joint Ventures			Total
Three Months Ended September 30, 2014
Revenues:
Minimum rents	$	25,095		$	15,542		$	61,522		$	102,159
Percentage rents	653			115			3,683			4,451
Tenant recoveries	11,495			11,757			26,235			49,487
Other	962			678			9,523			11,163
Total revenues	38,205			28,092			100,963			167,260
Expenses:
Shopping center and operating expenses	9,959			9,694			37,384			57,037
Interest expense	9,643			8,107			17,651			35,401
Depreciation and amortization	8,199			5,162			24,006			37,367
Total operating expenses	27,801			22,963			79,041			129,805
Loss on remeasurement, sale or write down of assets, net	(732		)	—			(6		)	(738		)
Net income	$	9,672		$	5,129		$	21,916		$	36,717
Company's equity in net income	$	4,379		$	988		$	11,568		$	16,935
Three Months Ended September 30, 2013
Revenues:
Minimum rents	$	27,426		$	15,344		$	59,940		$	102,710
Percentage rents	572			(12		)	2,938			3,498
Tenant recoveries	12,115			11,304			28,361			51,780
Other	1,086			510			8,143			9,739
Total revenues	41,199			27,146			99,382			167,727
Expenses:
Shopping center and operating expenses	12,231			9,818			35,926			57,975
Interest expense	10,251			3,801			21,062			35,114
Depreciation and amortization	9,067			4,568			22,688			36,323
Total operating expenses	31,549			18,187			79,676			129,412
Gain (loss) on remeasurement, sale or write down of assets, net	38,432			—			(328		)	38,104
Gain on extinguishment of debt	—			14			—			14
Net income	$	48,082		$	8,973		$	19,378		$	76,433
Company's equity in net income	$	21,567		$	2,919		$	10,675		$	35,161



	Pacific Premier Retail LP			Tysons Corner LLC		Other Joint Ventures			Total
Nine Months Ended September 30, 2014
Revenues:
Minimum rents	$	76,829		$	47,516	$	173,710		$	298,055
Percentage rents	1,862			719		7,915			10,496
Tenant recoveries	34,614			35,140		75,606			145,360
Other	3,652			2,294		25,821			31,767
Total revenues	116,957			85,669		283,052			485,678
Expenses:
Shopping center and operating expenses	31,772			29,374		101,522			162,668
Interest expense	29,572			23,590		56,717			109,879
Depreciation and amortization	25,747			14,520		66,768			107,035
Total operating expenses	87,091			67,484		225,007			379,582
Loss on remeasurement, sale or write down of assets, net	(7,044		)	—		(66		)	(7,110		)
Net income	$	22,822		$	18,185	$	57,979		$	98,986
Company's equity in net income	$	9,865		$	4,357	$	30,385		$	44,607
Nine Months Ended September 30, 2013
Revenues:
Minimum rents	$	91,779		$	46,526	$	180,870		$	319,175
Percentage rents	2,155			734		7,176			10,065
Tenant recoveries	40,555			34,025		82,261			156,841
Other	3,980			2,080		26,923			32,983
Total revenues	138,469			83,365		297,230			519,064
Expenses:
Shopping center and operating expenses	40,948			26,819		106,887			174,654
Interest expense	33,118			7,825		66,108			107,051
Depreciation and amortization	30,697			13,499		67,808			112,004
Total operating expenses	104,763			48,143		240,803			393,709
Gain on remeasurement, sale or write down of assets, net	182,781			—		373			183,154
Gain on extinguishment of debt	—			14		—			14
Net income	$	216,487		$	35,236	$	56,800		$	308,523
Company's equity in net income	$	105,684		$	12,957	$	26,836		$	145,477

Significant accounting policies used by the unconsolidated joint ventures are similar to those used by the Company.

Property:

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Property:

Property consists of the following:



	September 30, 2014			December 31, 2013
Land	$	1,713,298		$	1,707,005
Buildings and improvements	6,508,764			6,555,212
Tenant improvements	545,336			537,754
Equipment and furnishings	144,950			152,198
Construction in progress	346,914			229,169
	9,259,262			9,181,338
Less accumulated depreciation	(1,688,626		)	(1,559,572		)
	$	7,570,636		$	7,621,766

Depreciation expense was $68,663 and $68,589 for the three months ended September 30, 2014 and 2013, respectively, and $205,158 and $200,222 for the nine months ended September 30, 2014 and 2013, respectively.

The gain (loss) on remeasurement, sale or write down of assets, net, was $9,561 and $8,249 for the three months ended September 30, 2014 and 2013, respectively, and $(1,504) and $12,279 for the nine months ended September 30, 2014 and 2013, respectively.

The gain (loss) on remeasurement, sale or write down of assets, net, for the three and nine months ended September 30, 2013 includes the remeaurement gain of $36,341 on the Camelback Colonnade Restructuring (See Note 13—Acquisitions).

The gain (loss) on remeasurement, sale or write down of assets, net, for the three and nine months ended September 30, 2014 includes the $9,033 gain on the sale of the Company's 30% ownership interest in Wilshire Boulevard, a 40,000 square foot freestanding store in Santa Monica, California (See Note 4—Investments in Unconsolidated Joint Ventures). In addition, the gain (loss) on remeasurement, sale or write down of assets, net, for the nine months ended September 30, 2014 includes the loss of $1,602 on the sales of Rotterdam Square, a 585,000 square foot regional shopping center in Schenectady, New York; Somersville Towne Center, a 348,000 square foot regional shopping center in Antioch, California; and Lake Square Mall, a 559,000 square foot regional shopping center in Leesburg, Florida.

The gain (loss) on remeasurement, sale or write down of assets, net, includes the impairment losses of $238 and $27,972 for the three months ended September 30, 2014 and 2013, respectively, and $8,754 and $27,972 for the nine months ended September 30, 2014 and 2013, respectively. The impairment losses were due to the reduction of the estimated holding periods of former Mervyn's stores and Great Northern Mall.

The remaining gain (loss) on remeasurement, sale or write down of assets, net, of $766 and $(120) for the three months ended September 30, 2014 and 2013, respectively, and $(181) and $3,910 for the nine months ended September 30, 2014 and 2013, respectively, are primarily due to the sale of other assets and the write-off of development costs.

Tenant and Other Receivables, net:	9 Months Ended
Tenant and Other Receivables, net:	Sep. 30, 2014
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 $4,224 and $2,878 at September 30, 2014 and December 31, 2013, respectively. Also included in tenant and other receivables, net, are accrued percentage rents of $3,130 and $9,824 at September 30, 2014 and December 31, 2013, respectively, and a deferred rent receivable due to straight-line rent adjustments of $56,943 and $53,380 at September 30, 2014 and December 31, 2013, respectively. On March 17, 2014, in connection with the sale of Lake Square Mall (See Note 5—Property), the Company issued a note receivable for $6,500 that bears interest at an effective rate of 6.5% and matures on March 17, 2018 ("LSM Note A") and a note receivable for $3,103 that bore interest at 5.0% and was to mature on December 31, 2014 ("LSM Note B"). On September 2, 2014, the balance of LSM Note B was paid in full. The balance of LSM Note A at September 30, 2014 was $6,461 and is collateralized by a trust deed on Lake Square Mall.

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Deferred Charges and Other Assets, net:

9 Months Ended

Sep. 30, 2014

Deferred Charges and Other Assets, net:

Deferred charges and other assets, net, consist of the following:



	September 30, 2014			December 31, 2013
Leasing	$	227,151		$	223,038
Financing	50,896			51,695
Intangible assets:
In-place lease values	185,832			205,651
Leasing commissions and legal costs	46,982			50,594
Above-market leases	111,941			118,770
Deferred tax assets	35,115			31,356
Deferred compensation plan assets	33,784			30,932
Other assets	69,598			65,793
	761,299			777,829
Less accumulated amortization(1)	(268,602		)	(244,771		)
	$	492,697		$	533,058

(1)

Accumulated amortization includes $95,529 and $89,141 relating to in-place lease values, leasing commissions and legal costs at September 30, 2014 and December 31, 2013, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was $11,850 and $12,173 for the three months ended September 30, 2014 and 2013, respectively, and $35,948 and $40,263 for the nine months ended September 30, 2014 and 2013, respectively.

The allocated values of above-market leases and below-market leases consist of the following:



	September 30, 2014			December 31, 2013
Above-Market Leases
Original allocated value	$	111,941		$	118,770
Less accumulated amortization	(53,781		)	(46,912		)
	$	58,160		$	71,858
Below-Market Leases(1)
Original allocated value	$	182,593		$	187,537
Less accumulated amortization	(88,838		)	(79,271		)
	$	93,755		$	108,266


(1)	Below-market leases are included in other accrued liabilities.

Mortgage Notes Payable:

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Mortgage Notes Payable:

Mortgage notes payable at September 30, 2014 and December 31, 2013 consist of the following:



	Carrying Amount of Mortgage Notes(1)
	September 30, 2014				December 31, 2013
Property Pledged as Collateral	Related Party		Other		Related Party		Other		Effective Interest Rate(2)		Monthly Debt Service(3)		Maturity Date(4)
Arrowhead Towne Center	$	—	$	230,552	$	—	$	236,028	2.76	%	$	1,131	2018
Camelback Colonnade	—		48,233		—		49,120		2.16	%	178		2015
Chandler Fashion Center(5)	—		200,000		—		200,000		3.77	%	625		2019
Danbury Fair Mall	114,994		114,993		117,120		117,120		5.53	%	1,538		2020
Deptford Mall	—		198,785		—		201,622		3.76	%	947		2023
Deptford Mall	—		14,354		—		14,551		6.46	%	101		2016
Eastland Mall	—		168,000		—		168,000		5.79	%	811		2016
Fashion Outlets of Chicago(6)	—		117,350		—		91,383		2.95	%	259		2017
Fashion Outlets of Niagara Falls USA	—		122,053		—		124,030		4.89	%	727		2020
Flagstaff Mall	—		37,000		—		37,000		5.03	%	151		2015
FlatIron Crossing	—		263,144		—		268,000		3.90	%	1,393		2021
Freehold Raceway Mall(5)	—		230,255		—		232,900		4.20	%	1,132		2018
Fresno Fashion Fair	78,427		78,427		79,391		79,390		6.76	%	1,104		2015
Great Northern Mall(7)	—		34,747		—		35,484		6.54	%	234		2015
Green Acres Mall	—		315,126		—		319,850		3.61	%	1,447		2021
Kings Plaza Shopping Center	—		483,251		—		490,548		3.67	%	2,229		2019
Northgate Mall(8)	—		64,000		—		64,000		3.03	%	128		2017
Oaks, The	—		211,224		—		214,239		4.14	%	1,064		2022
Pacific View	—		133,869		—		135,835		4.08	%	668		2022
Santa Monica Place	—		231,638		—		235,445		2.99	%	1,004		2018
SanTan Village Regional Center	—		134,523		—		136,629		3.14	%	589		2019
South Plains Mall(9)	—		71,725		—		99,833		4.78	%	383		2015
Superstition Springs Center	—		68,158		—		68,395		1.98	%	138		2016
Towne Mall	—		22,707		—		22,996		4.48	%	117		2022
Tucson La Encantada	71,848		—		72,870		—		4.23	%	368		2022
Valley Mall	—		41,571		—		42,155		5.85	%	280		2016
Valley River Center	—		120,000		—		120,000		5.59	%	558		2016
Victor Valley, Mall of(10)	—		115,000		—		90,000		4.00	%	380		2024
Vintage Faire Mall	—		98,006		—		99,083		5.81	%	586		2015
Westside Pavilion	—		150,278		—		152,173		4.49	%	783		2022
	$	265,269	$	4,118,969	$	269,381	$	4,145,809


(1)	The mortgage notes payable balances include the unamortized debt premiums (discounts). Debt premiums (discounts) represent the excess (deficiency) of the fair value of debt over (under) the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.

Debt premiums (discounts) consist of the following:



Property Pledged as Collateral	September 30, 2014			December 31, 2013
Arrowhead Towne Center	$	12,337		$	14,642
Camelback Colonnade	1,233			2,120
Deptford Mall	(10		)	(14		)
Fashion Outlets of Niagara Falls USA	5,646			6,342
Superstition Springs Center	658			895
Valley Mall	(154		)	(219		)
	$	19,710		$	23,766


(2)	The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) 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 a co-venture arrangement (See Note 10—Co-Venture Arrangement).


(6)	The construction loan on the property allows for borrowings of up to $140,000, bears interest at LIBOR plus 2.50% and matures on March 5, 2017, including extension options. At September 30, 2014 and December 31, 2013, the total interest rate was 2.95% and 2.96%, respectively.


(7)	On March 24, 2014, the loan was extended to January 1, 2015.


(8)	The loan bears interest at LIBOR plus 2.25% and matures on March 1, 2017. At September 30, 2014 and December 31, 2013, the total interest rate was 3.03% and 3.04%, respectively.


(9)	On February 7, 2014, the Company paid off in full one of the two loans on the property, which resulted in a loss of $359 on the early extinguishment of debt.


(10)	On August 28, 2014, the Company replaced the existing loan on the property with a new loan that bears interest at an effective interest rate of 4.00% and matures on September 1, 2024. The replacement of the existing loan resulted in a loss of $46 on the early extinguishment of debt.

Most of the mortgage loan agreements contain a prepayment penalty provision for the early extinguishment of the debt.

Most of the Company's mortgage notes payable are secured by the properties on which they are placed and are non-recourse to the Company. As of September 30, 2014 and December 31, 2013, a total of $72,175 and $77,192, respectively, of the mortgage notes payable could become recourse to the Company.

The Company expects that all loan maturities, except Great Northern Mall, will be refinanced, restructured, extended and/or paid-off during the next twelve months from the Company's line of credit or with cash on hand.

Total interest expense capitalized was $3,930 and $2,887 for the three months ended September 30, 2014 and 2013, respectively, and $9,513 and $8,227 during the nine months ended September 30, 2014 and 2013, respectively.

Related party mortgage notes payable are amounts due to affiliates of NML. See Note 16—Related Party Transactions for interest expense associated with loans from NML.

The estimated fair value (Level 2 measurement) of mortgage notes payable at September 30, 2014 and December 31, 2013 was $4,452,658 and $4,500,177, respectively, based on current interest rates for comparable loans. The method for computing fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the property that serves as collateral for the underlying debt.

Bank and Other Notes Payable:	9 Months Ended
Bank and Other Notes Payable:	Sep. 30, 2014
Debt Disclosure [Abstract]
Bank and Other Notes Payable:	Bank and Other Notes Payable: Bank and other notes payable consist of the following: Line of Credit: The Company has a $1,500,000 revolving line of credit that initially bore interest at LIBOR plus a spread of 1.75% to 3.0%, depending on the Company's overall leverage levels, and was to mature on May 2, 2015 with a one-year extension option. The line of credit had the ability to be expanded, depending on certain conditions, up to a total facility of $2,000,000 less the outstanding balance of the $125,000 unsecured term loan as described below. On August 6, 2013, the Company's line of credit was amended and extended. The amended facility provides for an interest rate of LIBOR plus a spread of 1.38% to 2.0%, depending on the Company's overall leverage level, and matures on August 6, 2018. Based on the Company's leverage level as of September 30, 2014, the borrowing rate on the facility was LIBOR plus 1.38%. In addition, the line of credit can be expanded, depending on certain conditions, up to a total facility of $2,000,000 (without giving effect to the $125,000 unsecured term loan described below). As of September 30, 2014 and December 31, 2013, borrowings under the line of credit were $410,000 and $30,000, respectively, at an average interest rate of 1.81% and 1.85%, respectively. The estimated fair value (Level 2 measurement) of the line of credit at September 30, 2014 and December 31, 2013 was $387,244 and $28,214, respectively, based on a present value model using a credit interest rate spread offered to the Company for comparable debt. Term Loan: On December 8, 2011, the Company obtained a $125,000 unsecured term loan under the line of credit that bears interest at LIBOR plus a spread of 1.95% to 3.20%, depending on the Company's overall leverage level, and matures on December 8, 2018. Based on the Company's current leverage level as of September 30, 2014, the borrowing rate was LIBOR plus 1.95%. As of September 30, 2014 and December 31, 2013, the total interest rate was 2.25% and 2.51%, respectively. The estimated fair value (Level 2 measurement) of the term loan at September 30, 2014 and December 31, 2013 was $119,636 and $120,802, respectively, based on a present value model using a credit interest rate spread offered to the Company for comparable debt. Prasada Note: On March 29, 2013, the Company issued a $13,330 note payable that bears interest at 5.25% and matures on March 29, 2016. The note payable is collateralized by a portion of a development reimbursement agreement with the City of Surprise, Arizona. At September 30, 2014 and December 31, 2013, the note had a balance of $11,301 and $12,537, respectively. The estimated fair value (Level 2 measurement) of the note at September 30, 2014 and December 31, 2013 was $11,699 and $13,114, respectively, based on current interest rates for comparable notes. The method for computing fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the collateral for the underlying debt. As of September 30, 2014 and December 31, 2013, the Company was in compliance with all applicable financial loan covenants.

Co-Venture Arrangement:	9 Months Ended
Co-Venture Arrangement:	Sep. 30, 2014
Co-Venture Arrangement:
Co-Venture Arrangement:	Co-Venture Arrangement: On September 30, 2009, the Company formed a joint venture, whereby a third party acquired a 49.9% interest in Freehold Raceway Mall and Chandler Fashion Center. As a result of the Company having certain rights under the agreement to repurchase the assets after the seventh year of the venture formation, the transaction did not qualify for sale treatment. The Company, however, is not obligated to repurchase the assets. The transaction has been accounted for as a profit-sharing arrangement, and accordingly the assets, liabilities and operations of the properties remain on the books of the Company and a co-venture obligation was established for the amount of $168,154, representing the net cash proceeds received from the third party. The co-venture obligation is increased for the allocation of income to the co-venture partner and decreased for distributions to the co-venture partner. The co-venture obligation was $75,669 and $81,515 at September 30, 2014 and December 31, 2013, respectively.

Noncontrolling Interests:	9 Months Ended
Noncontrolling Interests:	Sep. 30, 2014
Noncontrolling Interest [Abstract]
Noncontrolling Interests:	Noncontrolling Interests: The Company allocates net income of the Operating Partnership based on the weighted average ownership interest during the period. The net income of the Operating Partnership that is not attributable to the Company is reflected in the consolidated statements of operations as noncontrolling interests. The Company adjusts the noncontrolling interests in the Operating Partnership at the end of each period to reflect its ownership interest in the Company. The Company had a 93% ownership interest in the Operating Partnership as of September 30, 2014 and December 31, 2013. The remaining 7% limited partnership interest as of September 30, 2014 and December 31, 2013 was owned by certain of the Company's executive officers and directors, certain of their affiliates, and other third party investors in the form of OP Units. The OP Units may be redeemed for shares of stock or cash, at the Company's option. The redemption value for each OP Unit as of any balance sheet date is the amount equal to the average of the closing price per share of the Company's common stock, par value $0.01 per share, as reported on the New York Stock Exchange for the 10 trading days ending on the respective balance sheet date. Accordingly, as of September 30, 2014 and December 31, 2013, the aggregate redemption value of the then-outstanding OP Units not owned by the Company was $647,988 and $587,917, respectively. The Company issued common and preferred units of MACWH, LP in April 2005 in connection with the acquisition of the Wilmorite portfolio. The common and preferred units of MACWH, LP are redeemable at the election of the holder, the Company may redeem them for cash or shares of the Company's stock at the Company's option and they are classified as permanent equity. 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:	9 Months Ended
Stockholders' Equity:	Sep. 30, 2014
Stockholders' Equity Note [Abstract]
Stockholders' Equity:	Stockholders' Equity: On August 17, 2012, the Company entered into an equity distribution agreement ("2012 Distribution Agreement") with a number of sales agents (the "2012 ATM Program") to issue and sell, from time to time, shares of common stock, par value $0.01 per share, having an aggregate offering price of up to $500,000 (the “2012 ATM Shares”). Sales of the 2012 ATM Shares, could have been made in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an “at the market” offering, which includes sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. The Company agreed to pay each sales agent a commission that was not to exceed, but could have been lower than, 2% of the gross proceeds of the 2012 ATM Shares sold through such sales agent under the 2012 Distribution Agreement. During the year ended December 31, 2012, the Company sold 2,961,903 shares of common stock under the 2012 ATM Program in exchange for aggregate gross proceeds of $177,896 and net proceeds of $175,649 after commissions and other transaction costs. During the year ended December 31, 2013, the Company sold 2,456,956 shares of common stock under the 2012 ATM Program in exchange for aggregate gross proceeds of $173,011 and net proceeds of $171,102 after commissions and other transaction costs. The proceeds from the sales were used to pay down the Company's line of credit. On August 20, 2014, the Company terminated and replaced the 2012 ATM Program with a new ATM Program (the "2014 ATM Program") to sell, from time to time, shares of common stock, par value $0.01 per share, having an aggregate offering price of up to $500,000 (the "Shares"). The terms of the 2014 ATM Program are substantially the same as the 2012 ATM Program. The Company did not sell any shares under the ATM Programs during the nine months ended September 30, 2014. As of September 30, 2014, $500,000 of the Shares were available to be sold under the 2014 ATM Program. The unsold 2012 ATM Shares are no longer available for issuance. Actual future sales of the Shares under the 2014 ATM Program 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 Shares under the 2014 ATM Program.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
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-Paragraph d
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Acquisitions:

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Acquisitions:


	Acquisitions:

Fashion Outlets of Niagara Falls USA:

On July 22, 2011, the Company acquired the Fashion Outlets of Niagara Falls USA, a 517,000 square foot outlet center in Niagara Falls, New York. The purchase and sale agreement included contingent consideration payable to AWE/Talisman, the former owner of the property and a related party (See Note 16—Related Party Transactions), based on the performance of the Fashion Outlets of Niagara Falls USA from the acquisition date through July 21, 2014 that increased the purchase price above the initial $200,000. During the nine months ended September 30, 2014, the Company paid $18,667 in full settlement of the contingent consideration liability.

Green Acres Mall:

On January 24, 2013, the Company acquired Green Acres Mall, a 1,791,000 square foot regional shopping center in Valley Stream, New York, for a purchase price of $500,000. A purchase deposit of $30,000 was funded during the year ended December 31, 2012, and the remaining $470,000 was funded upon closing of the acquisition. The cash payment made at the time of closing was provided by the placement of a mortgage note payable on the property that allowed for borrowings of up to $325,000 and from borrowings under the Company's line of credit. Concurrent with the acquisition, the Company borrowed $100,000 on the loan. On January 31, 2013, the Company exercised its option to borrow the remaining $225,000 on the loan. The acquisition was completed to acquire another prominent shopping center in the New York metropolitan area.

The following is a summary of the allocation of the fair value of Green Acres Mall:



Property	$	477,673
Deferred charges	45,130
Other assets	19,125
Total assets acquired	541,928
Other accrued liabilities	41,928
Total liabilities assumed	41,928
Fair value of acquired net assets	$	500,000

The Company determined that the purchase price represented the fair value of the assets acquired and liabilities assumed.

Since the date of acquisition, the Company has included Green Acres Mall in its consolidated financial statements.

Green Acres Adjacent:

On April 25, 2013, the Company acquired a 19 acre parcel of land adjacent to Green Acres Mall for $22,577. The payment was provided by borrowings from the Company's line of credit. The acquisition was completed to allow for future expansion of Green Acres Mall.

Camelback Colonnade Restructuring:

On September 17, 2013, the Company’s joint venture in Camelback Colonnade was restructured. As a result of the restructuring, the Company’s ownership interest in Camelback Colonnade decreased from 73.2% to 67.5%. Prior to the restructuring, the Company had accounted for its investment in Camelback Colonnade under the equity method of accounting due to substantive participation rights held by the outside partners. Upon completion of the restructuring, these substantive participation rights were terminated and the Company obtained voting control of the joint venture (See Note 4—Investments in Unconsolidated Joint Ventures).

The following is a summary of the allocation of the fair value of Camelback Colonnade:



Property	$	98,160
Deferred charges	8,284
Cash and cash equivalents	1,280
Restricted cash	1,139
Tenant receivables	615
Other assets	380
Total assets acquired	109,858
Mortgage note payable	49,465
Accounts payable	54
Other accrued liabilities	4,752
Total liabilities assumed	54,271
Fair value of acquired net assets (at 100% ownership)	$	55,587

The Company recognized the following remeasurement gain on the Camelback Colonnade Restructuring:



Fair value of existing ownership interest (at 73.2% ownership)	$	41,690
Carrying value of investment	(5,349		)
Gain on remeasurement	$	36,341

Since the date of the restructuring, the Company has included Camelback Colonnade in its consolidated financial statements.

Superstition Springs Center:

On October 24, 2013, the Company acquired the remaining 33.3% ownership interest in Superstition Springs Center that it did not own for $46,162. The purchase price was funded by a cash payment of $23,662 and the assumption of the third party's pro rata share of the mortgage note payable on the property of $22,500. Prior to the acquisition, the Company had accounted for its investment under the equity method of accounting (See Note 4—Investments in Unconsolidated Joint Ventures). As a result of this transaction, the Company obtained 100% ownership of Superstition Springs Center. The acquisition was completed in order to gain 100% ownership and control over this asset.

The following is a summary of the allocation of the fair value of Superstition Springs Center:



Property	$	114,373
Deferred charges	12,353
Cash and cash equivalents	8,894
Tenant receivables	51
Other assets	11,535
Total assets acquired	147,206
Mortgage note payable	68,448
Accounts payable	119
Other accrued liabilities	7,637
Total liabilities assumed	76,204
Fair value of acquired net assets (at 100% ownership)	$	71,002

The Company determined that the purchase price represented the fair value of the additional ownership interest in Superstition Springs Center that was acquired.



Fair value of existing ownership interest (at 66.7% ownership)	$	47,340
Carrying value of investment	(32,476		)
Gain on remeasurement	$	14,864

The following is the reconciliation of the purchase price to the fair value of the acquired net assets:



Purchase price	$	46,162
Less debt assumed	(22,500		)
Carrying value of investment	32,476
Remeasurement gain	14,864
Fair value of acquired net assets (at 100% ownership)	$	71,002

Since the date of acquisition, the Company has included Superstition Springs Center in its consolidated financial statements.

Cascade Mall:

On June 4, 2014, the Company acquired the remaining 49.0% ownership interest in Cascade Mall that it did not own for $15,233. Prior to the acquisition, the Company had accounted for its investment under the equity method of accounting (See Note 4—Investments in Unconsolidated Joint Ventures). As a result of this transaction, the Company obtained 100% ownership of Cascade Mall. The acquisition was completed in order to obtain 100% ownership and control over this asset.

The following is a summary of the allocation of the fair value of Cascade Mall:



Property	$	28,924
Deferred charges	6,660
Other assets	202
Total assets acquired	35,786
Other accrued liabilities	4,786
Total liabilities assumed	4,786
Fair value of acquired net assets (at 100% ownership)	$	31,000

The Company determined that the purchase price represented the fair value of the additional ownership interest in Cascade Mall that was acquired.

The following is the reconciliation of the purchase price to the fair value of the acquired net assets:



Purchase price	$	15,233
Carrying value of investment	15,767
Fair value of acquired net assets (at 100% ownership)	$	31,000

Since the date of acquisition, the Company has included Cascade Mall in its consolidated financial statements. The property has generated incremental revenue of $2,337 and incremental earnings of $667 during the nine months ended September 30, 2014.

Pro Forma Results of Operations:

The following unaudited pro forma financial information for the three and nine months ended September 30, 2014 and 2013 assumes all of the above transactions took place on January 1, 2013:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
Pro forma revenue (1)	$	263,492	$	267,091	$	785,038	$	773,343
Pro forma income from continuing operations (1)	$	38,744	$	13,492	$	73,847	$	122,976

(1)

This unaudited pro forma supplemental information does not purport to be indicative of what the Company's operating results would have been had these transactions occurred on January 1, 2013, and may not be indicative of future operating results. The Company has excluded remeasurement gains and acquisition costs from these pro forma results as they are considered significant non-recurring adjustments directly attributable to these transactions.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Discontinued Operations:	9 Months Ended
Discontinued Operations:	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations:	Discontinued Operations: On May 31, 2013, the Company sold Green Tree Mall, a 793,000 square foot regional shopping center in Clarksville, Indiana, for $79,000, resulting in a gain on the sale of assets of $59,767. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes. On June 4, 2013, the Company sold Northridge Mall, an 890,000 square foot regional shopping center in Salinas, California, and Rimrock Mall, a 603,000 square foot regional shopping center in Billings, Montana. The properties were sold in a combined transaction for $230,000, resulting in a gain on the sale of assets of $82,151. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes. On September 11, 2013, the Company sold a former Mervyn's store in Milpitas, California for $12,000, resulting in a loss on the sale of assets of $2,633. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes. On September 30, 2013, the Company conveyed Fiesta Mall, a 933,000 square foot regional shopping center in Mesa, Arizona, to the mortgage note lender by a deed-in-lieu of foreclosure. As a result of the conveyance, the Company recognized a gain on the extinguishment of debt of $1,401, which is included in (loss) gain on the disposition of assets, net. On October 15, 2013, the Company sold a former Mervyn's store in Midland, Texas for $5,700, resulting in a loss on the sale of assets of $2,031. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes. On October 23, 2013, the Company sold a former Mervyn's store in Grand Junction, Colorado for $5,430, resulting in a gain on the sale of assets of $1,695. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes. On December 4, 2013, the Company sold a former Mervyn's store in Livermore, California for $10,475, resulting in a loss on the sale of assets of $5,257. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes. On December 11, 2013, the Company sold Chesterfield Towne Center, a 1,016,000 square foot regional shopping center in Richmond, Virginia, and Centre at Salisbury, an 862,000 square foot regional shopping center in Salisbury, Maryland, in a combined transaction for $292,500, resulting in a gain on the sale of assets of $151,467. The sales price was funded by a cash payment of $67,763, the assumption of the $109,737 mortgage note payable on Chesterfield Towne Center and the assumption of the $115,000 mortgage note payable on Centre at Salisbury. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes. The Company has classified the results of operations and the gain or loss on all of the above dispositions as discontinued operations for the three and nine months ended September 30, 2013. Revenues from discontinued operations were $10,926 and $47,427 for the three and nine months ended September 30, 2013, respectively. Total (loss) income from discontinued operations was $(8,844) and $137,112 for the three and nine months ended September 30, 2013, respectively.

Related-Party Transactions:

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

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+ Details

Commitments and Contingencies:	9 Months Ended
Commitments and Contingencies:	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies:	Commitments and Contingencies: The Company has certain properties that are subject to non-cancelable operating ground leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the leases. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. Ground rent expense was $2,667 and $2,580 for the three months ended September 30, 2014 and 2013, respectively, and $8,044 and $7,881 for the nine months ended September 30, 2014 and 2013, respectively. No contingent rent was incurred during the three and nine months ended September 30, 2014 or 2013. As of September 30, 2014 and December 31, 2013, the Company was contingently liable for $18,388 and $18,862, respectively, in letters of credit guaranteeing performance by the Company of certain obligations relating to the Centers. The Company does not believe that these letters of credit will result in a liability to the Company. The Company has entered into a number of construction agreements related to its redevelopment and development activities. Obligations under these agreements are contingent upon the completion of the services within the guidelines specified in the agreements. At September 30, 2014, the Company had $39,522 in outstanding obligations which it believes will be settled in the next twelve months.

Related-Party Transactions:

9 Months Ended

Sep. 30, 2014

Related Party Transactions:

Certain unconsolidated joint ventures and third-parties have engaged the Management Companies to manage the operations of the Centers. Under these arrangements, the Management Companies are reimbursed for compensation paid to on-site employees, leasing agents and project managers at the Centers, as well as insurance costs and other administrative expenses.

The following are fees charged to unconsolidated joint ventures:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
Management Fees	$	4,613	$	5,286	$	14,328	$	16,286
Development and Leasing Fees	3,046		3,810		8,424		8,284
	$	7,659	$	9,096	$	22,752	$	24,570

Certain mortgage notes on the properties are held by NML (See Note 8—Mortgage Notes Payable). Interest expense in connection with these notes was $3,671 and $3,745 for the three months ended September 30, 2014 and 2013, respectively, and $11,069 and $11,289 for the nine months ended September 30, 2014 and 2013, respectively. Included in accounts payable and accrued expenses is interest payable on these notes of $1,322 and $1,240 at September 30, 2014 and December 31, 2013, respectively.

As of September 30, 2014 and December 31, 2013, the Company had loans to unconsolidated joint ventures of $3,361 and $2,756, respectively. Interest income associated with these notes was $53 and $58 for the three months ended September 30, 2014 and 2013, respectively, and $162 and $178 for the nine months ended September 30, 2014 and 2013, respectively. These loans represent initial funds advanced to development stage projects prior to construction loan funding. Accordingly, loan payables in the same amount have been accrued as an obligation by the various joint ventures.

Due from affiliates includes $5,897 and $3,822 of unreimbursed costs and fees due from unconsolidated joint ventures under management agreements at September 30, 2014 and December 31, 2013, respectively.

Due from affiliates at September 30, 2014 and December 31, 2013 also includes two notes receivable from principals of AWE/Talisman that bear interest at 5.0% and mature based on the refinancing or sale of Fashion Outlets of Chicago, or certain other specified events. The notes are collateralized by the principals' interests in Fashion Outlets of Chicago. AWE/Talisman is considered a related party because it has an ownership interest in Fashion Outlets of Chicago. The combined balance on these notes was $14,071 and $13,603 at September 30, 2014 and December 31, 2013, respectively. The combined interest income earned on these notes was $156 and $157 for the three months ended September 30, 2014 and 2013, respectively, and $467 for the nine months ended September 30, 2014 and 2013.

In addition, due from affiliates at September 30, 2014 and December 31, 2013 includes a note receivable of $11,454 and $12,707, respectively, from RED/303 LLC ("RED") that bears interest at 5.25% and matures on March 29, 2016. Interest income earned on this note was $154 and $176 for the three months ended September 30, 2014 and 2013, respectively, and $468 and $356 for the nine months ended September 30, 2014 and 2013, respectively. RED is considered a related party because it is a partner in a joint venture development project. The note is collateralized by RED's membership interest in a development agreement.

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Share and Unit-Based Plans:

9 Months Ended

Sep. 30, 2014

Share and Unit-Based Plans:

Under the Long-Term Incentive Plan ("LTIP"), each award recipient is issued a form of operating partnership units ("LTIP Units") in the Operating Partnership. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units) are ultimately redeemable for common stock of the Company, or cash at the Company's option, on a one-unit for one-share basis. LTIP Units receive cash distributions based on the dividend amount paid on the common stock of the Company to the extent distributions are required. The LTIP may include market-indexed awards, service-based awards and fully-vested awards.

On January 1, 2014, the Company granted 272,930 market-indexed LTIP Units to seven executive officers at a weighted average grant date fair value of $45.34 per LTIP Unit. The new grants vest over a service period ending December 31, 2014. The market-indexed LTIP Units vest over the service period of the award based on the percentile ranking of the Company in terms of total return to stockholders (the "Total Return") per common stock share relative to the Total Return of a group of peer REITs, as measured at the end of the measurement period. The market-indexed LTIP Units are equally divided between two types of awards. The terms of both types of awards are the same, except one award has an additional 3% absolute Total Return requirement, which if it is not met, then the LTIP Units will not vest.

The fair value of the market-indexed LTIP Units was 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, was assumed to follow the Multivariate Geometric Brownian Motion Process. Multivariate Geometric Brownian Motion Process modeling is commonly used in financial markets, as it allows the modeled quantity (in this case, the stock price) to vary randomly from its current value based on the stock price's expected volatility and current market interest rates. The volatilities of the returns on the stock price of the Company and the peer group REITs were estimated based on a one-year look-back period. The expected growth rate of the stock prices over the derived service period was determined with consideration of the risk free rate as of the grant date.

On January 1, 2014, the Company also granted 70,042 service-based LTIP Units to the seven executive officers at a weighted average grant date fair value of $58.89 per LTIP Unit. The service-based LTIP Units will vest in equal annual installments over a service period ending December 31, 2016.

On March 7, 2014, the Company granted 246,471 fully-vested LTIP Units to the seven executive officers at a weighted average grant date price of $60.25 as their 2013 performance bonus.

The following summarizes the compensation cost under the share and unit-based plans:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
LTIP Units	$	3,465	$	4,743	$	25,133	$	12,393
Stock awards	84		121		281		353
Stock units	1,134		674		3,775		3,165
Stock options	4		4		12		12
Phantom stock units	296		248		902		735
	$	4,983	$	5,790	$	30,103	$	16,658

The Company capitalized share and unit-based compensation costs of $525 and $657 for the three months ended September 30, 2014 and 2013, respectively, and $4,886 and $2,745 for the nine months ended September 30, 2014 and 2013, respectively. Unrecognized compensation costs of share and unit-based plans at September 30, 2014 consisted of $6,216 from LTIP Units, $332 from stock awards, $2,870 from stock units, $47 from stock options and $697 from phantom stock units.

The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:



	LTIP Units				Stock Awards				Phantom Stock Units				Stock Units
	Units		Value(1)		Shares		Value(1)		Units		Value(1)		Units		Value(1)
Balance at January 1, 2014	—		$	—	19,001		$	56.77	17,575		$	58.66	137,318		$	57.24
Granted	589,443		53.18		—		—		8,916		62.53		70,505		60.24
Vested	(246,471	)	60.25		(9,812	)	54.45		(14,548	)	61.27		(68,151	)	55.10
Forfeited	—		—		—		—		—		—		—		—
Balance at September 30, 2014	342,972		$	48.11	9,189		$	59.25	11,943		$	58.36	139,672		$	59.80


(1)	Value represents the weighted average grant date fair value.

The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:



	SARs				Stock Options
	Shares		Value(1)		Shares	Value(1)
Balance at January 1, 2014	1,070,991		$	56.66	10,068	$	59.57
Granted	—		—		—	—
Exercised	(54,082	)	56.63		—	—
Forfeited	—		—		—	—
Balance at September 30, 2014	1,016,909		$	56.66	10,068	$	59.57


(1)	Value represents the weighted average exercise price.

Income Taxes:

9 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Income Taxes:

The Company has made Taxable REIT Subsidiary elections for all of its corporate subsidiaries other than its Qualified REIT Subsidiaries. The elections, effective for the year beginning January 1, 2001 and future years, were made pursuant to Section 856(l) of the Code. The Company's Taxable REIT Subsidiaries ("TRSs") are subject to corporate level income taxes which are provided for in the Company's consolidated financial statements. The Company's primary TRSs include Macerich Management Company and Macerich Arizona Partners LLC.

The income tax benefit (provision) of the TRSs are as follows:



	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2014		2013			2014		2013
Current	$	—	$	(79	)	$	—	$	(235	)
Deferred	689		622			3,759		2,498
Income tax benefit	$	689	$	543		$	3,759	$	2,263

The net operating loss carryforwards are currently scheduled to expire through 2033, beginning in 2024. Net deferred tax assets of $35,115 and $31,356 were included in deferred charges and other assets, net, at September 30, 2014 and December 31, 2013, respectively.

The tax years 2010 through 2014 remain open to examination by the taxing jurisdictions to which the Company is subject. The Company does not expect that the total amount of unrecognized tax benefit will materially change within the next twelve months.

Subsequent Events:	9 Months Ended
Subsequent Events:	Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events:	Subsequent Events: On October 23, 2014, the Company announced a dividend/distribution of $0.65 per share for common stockholders and OP Unit holders of record on November 12, 2014. All dividends/distributions will be paid 100% in cash on December 5, 2014. On October 31, 2014, the Company sold South Towne Center, a 1,278,000 square foot regional shopping center in Sandy, Utah, for $205,000. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.

Summary of Significant Accounting Policies: (Policies)	9 Months Ended
Summary of Significant Accounting Policies: (Policies)	Sep. 30, 2014
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by independent public accountants. The accompanying consolidated financial statements include the accounts of the Company and the Operating Partnership. Investments in entities in which the Company has a controlling financial interest or entities that meet the definition of a variable interest entity 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 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 are consolidated; otherwise they are accounted for under the equity method of accounting and are reflected as investments in unconsolidated joint ventures. All intercompany accounts and transactions have been eliminated in the consolidated financial statements. The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of December 31, 2013 has been derived from the audited financial statements but does not include all disclosures required by GAAP.
Recent Accounting Pronouncements	Recent Accounting Pronouncements: On April 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2014-08, which amends the definition of discontinued operations and requires additional disclosures for disposal transactions that do not meet the revised discontinued operations criteria. ASU 2014-08 is required to be adopted for fiscal years beginning after December 15, 2014, with early adoption permitted. The Company's early adoption of this pronouncement on January 1, 2014 did not have a material impact on the Company's consolidated financial statements.

Earnings per Share ("EPS"): (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Reconciliation of numerator and denominator used in computation of earnings per share

The following table reconciles the numerator and denominator used in the computation of earnings per share for the three and nine months ended September 30, 2014 and 2013 (shares in thousands):



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2014			2013			2014			2013
Numerator
Income from continuing operations	$	38,744		$	49,669		$	76,373		$	161,058
(Loss) income from discontinued operations	—			(8,844		)	—			137,112
Net income attributable to noncontrolling interests	(2,830		)	(2,702		)	(6,552		)	(22,958		)
Net income attributable to the Company	35,914			38,123			69,821			275,212
Allocation of earnings to participating securities	(122		)	(80		)	(373		)	(257		)
Numerator for basic and diluted earnings per share—net income attributable to common stockholders	$	35,792		$	38,043		$	69,448		$	274,955
Denominator
Denominator for basic earnings per share—weighted average number of common shares outstanding	140,916			140,712			140,859			139,219
Effect of dilutive securities:(1)
Share and unit-based compensation plans	144			61			116			101
Denominator for diluted earnings per share—weighted average number of common shares outstanding	141,060			140,773			140,975			139,320
Earnings per common share—basic:
Income from continuing operations	$	0.25		$	0.33		$	0.49		$	1.05
Discontinued operations	—			(0.06		)	—			0.92
Net income attributable to common stockholders	$	0.25		$	0.27		$	0.49		$	1.97
Earnings per common share—diluted:
Income from continuing operations	$	0.25		$	0.33		$	0.49		$	1.05
Discontinued operations	—			(0.06		)	—			0.92
Net income attributable to common stockholders	$	0.25		$	0.27		$	0.49		$	1.97


(1)	Diluted EPS excludes 184,304 convertible preferred units for the three and nine months ended September 30, 2014 and 2013 as their impact was antidilutive.

Investments in Unconsolidated Joint Ventures: (Tables)

9 Months Ended

Sep. 30, 2014

Equity Method Investments and Joint Ventures [Abstract]

Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures and Other Related Information

Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:



	September 30, 2014			December 31, 2013
Assets(1):
Properties, net	$	3,798,082		$	3,435,737
Other assets	305,649			295,719
Total assets	$	4,103,731		$	3,731,456
Liabilities and partners' capital(1):
Mortgage notes payable(2)	$	3,420,951		$	3,518,215
Other liabilities	242,861			202,444
Company's capital (deficit)	200,943			(25,367		)
Outside partners' capital	238,976			36,164
Total liabilities and partners' capital	$	4,103,731		$	3,731,456
Investments in unconsolidated joint ventures:
Company's capital (deficit)	$	200,943		$	(25,367	)
Basis adjustment(3)	472,808			474,658
	$	673,751		$	449,291

Assets—Investments in unconsolidated joint ventures	$	927,424		$	701,483
Liabilities—Distributions in excess of investments in unconsolidated joint ventures	(253,673		)	(252,192		)
	$	673,751		$	449,291


(1)	These amounts include the assets and liabilities of the following joint ventures as of September 30, 2014 and December 31, 2013:



	Pacific Premier Retail LP		Tysons Corner LLC
As of September 30, 2014:
Total Assets	$	736,872	$	340,973
Total Liabilities	$	813,400	$	873,896
As of December 31, 2013:
Total Assets	$	775,012	$	356,871
Total Liabilities	$	812,725	$	887,413

(2)

(3)

Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures

Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:



	Pacific Premier Retail LP			Tysons Corner LLC			Other Joint Ventures			Total
Three Months Ended September 30, 2014
Revenues:
Minimum rents	$	25,095		$	15,542		$	61,522		$	102,159
Percentage rents	653			115			3,683			4,451
Tenant recoveries	11,495			11,757			26,235			49,487
Other	962			678			9,523			11,163
Total revenues	38,205			28,092			100,963			167,260
Expenses:
Shopping center and operating expenses	9,959			9,694			37,384			57,037
Interest expense	9,643			8,107			17,651			35,401
Depreciation and amortization	8,199			5,162			24,006			37,367
Total operating expenses	27,801			22,963			79,041			129,805
Loss on remeasurement, sale or write down of assets, net	(732		)	—			(6		)	(738		)
Net income	$	9,672		$	5,129		$	21,916		$	36,717
Company's equity in net income	$	4,379		$	988		$	11,568		$	16,935
Three Months Ended September 30, 2013
Revenues:
Minimum rents	$	27,426		$	15,344		$	59,940		$	102,710
Percentage rents	572			(12		)	2,938			3,498
Tenant recoveries	12,115			11,304			28,361			51,780
Other	1,086			510			8,143			9,739
Total revenues	41,199			27,146			99,382			167,727
Expenses:
Shopping center and operating expenses	12,231			9,818			35,926			57,975
Interest expense	10,251			3,801			21,062			35,114
Depreciation and amortization	9,067			4,568			22,688			36,323
Total operating expenses	31,549			18,187			79,676			129,412
Gain (loss) on remeasurement, sale or write down of assets, net	38,432			—			(328		)	38,104
Gain on extinguishment of debt	—			14			—			14
Net income	$	48,082		$	8,973		$	19,378		$	76,433
Company's equity in net income	$	21,567		$	2,919		$	10,675		$	35,161



	Pacific Premier Retail LP			Tysons Corner LLC		Other Joint Ventures			Total
Nine Months Ended September 30, 2014
Revenues:
Minimum rents	$	76,829		$	47,516	$	173,710		$	298,055
Percentage rents	1,862			719		7,915			10,496
Tenant recoveries	34,614			35,140		75,606			145,360
Other	3,652			2,294		25,821			31,767
Total revenues	116,957			85,669		283,052			485,678
Expenses:
Shopping center and operating expenses	31,772			29,374		101,522			162,668
Interest expense	29,572			23,590		56,717			109,879
Depreciation and amortization	25,747			14,520		66,768			107,035
Total operating expenses	87,091			67,484		225,007			379,582
Loss on remeasurement, sale or write down of assets, net	(7,044		)	—		(66		)	(7,110		)
Net income	$	22,822		$	18,185	$	57,979		$	98,986
Company's equity in net income	$	9,865		$	4,357	$	30,385		$	44,607
Nine Months Ended September 30, 2013
Revenues:
Minimum rents	$	91,779		$	46,526	$	180,870		$	319,175
Percentage rents	2,155			734		7,176			10,065
Tenant recoveries	40,555			34,025		82,261			156,841
Other	3,980			2,080		26,923			32,983
Total revenues	138,469			83,365		297,230			519,064
Expenses:
Shopping center and operating expenses	40,948			26,819		106,887			174,654
Interest expense	33,118			7,825		66,108			107,051
Depreciation and amortization	30,697			13,499		67,808			112,004
Total operating expenses	104,763			48,143		240,803			393,709
Gain on remeasurement, sale or write down of assets, net	182,781			—		373			183,154
Gain on extinguishment of debt	—			14		—			14
Net income	$	216,487		$	35,236	$	56,800		$	308,523
Company's equity in net income	$	105,684		$	12,957	$	26,836		$	145,477

Property: (Tables)

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Components of property

Property consists of the following:



	September 30, 2014			December 31, 2013
Land	$	1,713,298		$	1,707,005
Buildings and improvements	6,508,764			6,555,212
Tenant improvements	545,336			537,754
Equipment and furnishings	144,950			152,198
Construction in progress	346,914			229,169
	9,259,262			9,181,338
Less accumulated depreciation	(1,688,626		)	(1,559,572		)
	$	7,570,636		$	7,621,766

Deferred Charges and Other Assets, net: (Tables)

9 Months Ended

Sep. 30, 2014

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of deferred charges and other assets, net

Deferred charges and other assets, net, consist of the following:



	September 30, 2014			December 31, 2013
Leasing	$	227,151		$	223,038
Financing	50,896			51,695
Intangible assets:
In-place lease values	185,832			205,651
Leasing commissions and legal costs	46,982			50,594
Above-market leases	111,941			118,770
Deferred tax assets	35,115			31,356
Deferred compensation plan assets	33,784			30,932
Other assets	69,598			65,793
	761,299			777,829
Less accumulated amortization(1)	(268,602		)	(244,771		)
	$	492,697		$	533,058

(1)

Allocated values of above-market leases and below-market leases

The allocated values of above-market leases and below-market leases consist of the following:



	September 30, 2014			December 31, 2013
Above-Market Leases
Original allocated value	$	111,941		$	118,770
Less accumulated amortization	(53,781		)	(46,912		)
	$	58,160		$	71,858
Below-Market Leases(1)
Original allocated value	$	182,593		$	187,537
Less accumulated amortization	(88,838		)	(79,271		)
	$	93,755		$	108,266


(1)	Below-market leases are included in other accrued liabilities.

Mortgage Notes Payable: (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Mortgage notes payable

Mortgage notes payable at September 30, 2014 and December 31, 2013 consist of the following:



	Carrying Amount of Mortgage Notes(1)
	September 30, 2014				December 31, 2013
Property Pledged as Collateral	Related Party		Other		Related Party		Other		Effective Interest Rate(2)		Monthly Debt Service(3)		Maturity Date(4)
Arrowhead Towne Center	$	—	$	230,552	$	—	$	236,028	2.76	%	$	1,131	2018
Camelback Colonnade	—		48,233		—		49,120		2.16	%	178		2015
Chandler Fashion Center(5)	—		200,000		—		200,000		3.77	%	625		2019
Danbury Fair Mall	114,994		114,993		117,120		117,120		5.53	%	1,538		2020
Deptford Mall	—		198,785		—		201,622		3.76	%	947		2023
Deptford Mall	—		14,354		—		14,551		6.46	%	101		2016
Eastland Mall	—		168,000		—		168,000		5.79	%	811		2016
Fashion Outlets of Chicago(6)	—		117,350		—		91,383		2.95	%	259		2017
Fashion Outlets of Niagara Falls USA	—		122,053		—		124,030		4.89	%	727		2020
Flagstaff Mall	—		37,000		—		37,000		5.03	%	151		2015
FlatIron Crossing	—		263,144		—		268,000		3.90	%	1,393		2021
Freehold Raceway Mall(5)	—		230,255		—		232,900		4.20	%	1,132		2018
Fresno Fashion Fair	78,427		78,427		79,391		79,390		6.76	%	1,104		2015
Great Northern Mall(7)	—		34,747		—		35,484		6.54	%	234		2015
Green Acres Mall	—		315,126		—		319,850		3.61	%	1,447		2021
Kings Plaza Shopping Center	—		483,251		—		490,548		3.67	%	2,229		2019
Northgate Mall(8)	—		64,000		—		64,000		3.03	%	128		2017
Oaks, The	—		211,224		—		214,239		4.14	%	1,064		2022
Pacific View	—		133,869		—		135,835		4.08	%	668		2022
Santa Monica Place	—		231,638		—		235,445		2.99	%	1,004		2018
SanTan Village Regional Center	—		134,523		—		136,629		3.14	%	589		2019
South Plains Mall(9)	—		71,725		—		99,833		4.78	%	383		2015
Superstition Springs Center	—		68,158		—		68,395		1.98	%	138		2016
Towne Mall	—		22,707		—		22,996		4.48	%	117		2022
Tucson La Encantada	71,848		—		72,870		—		4.23	%	368		2022
Valley Mall	—		41,571		—		42,155		5.85	%	280		2016
Valley River Center	—		120,000		—		120,000		5.59	%	558		2016
Victor Valley, Mall of(10)	—		115,000		—		90,000		4.00	%	380		2024
Vintage Faire Mall	—		98,006		—		99,083		5.81	%	586		2015
Westside Pavilion	—		150,278		—		152,173		4.49	%	783		2022
	$	265,269	$	4,118,969	$	269,381	$	4,145,809


(1)	The mortgage notes payable balances include the unamortized debt premiums (discounts). Debt premiums (discounts) represent the excess (deficiency) of the fair value of debt over (under) the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.

Debt premiums (discounts) consist of the following:



Property Pledged as Collateral	September 30, 2014			December 31, 2013
Arrowhead Towne Center	$	12,337		$	14,642
Camelback Colonnade	1,233			2,120
Deptford Mall	(10		)	(14		)
Fashion Outlets of Niagara Falls USA	5,646			6,342
Superstition Springs Center	658			895
Valley Mall	(154		)	(219		)
	$	19,710		$	23,766


(2)	The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) 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 a co-venture arrangement (See Note 10—Co-Venture Arrangement).


(6)	The construction loan on the property allows for borrowings of up to $140,000, bears interest at LIBOR plus 2.50% and matures on March 5, 2017, including extension options. At September 30, 2014 and December 31, 2013, the total interest rate was 2.95% and 2.96%, respectively.


(7)	On March 24, 2014, the loan was extended to January 1, 2015.


(8)	The loan bears interest at LIBOR plus 2.25% and matures on March 1, 2017. At September 30, 2014 and December 31, 2013, the total interest rate was 3.03% and 3.04%, respectively.


(9)	On February 7, 2014, the Company paid off in full one of the two loans on the property, which resulted in a loss of $359 on the early extinguishment of debt.


(10)	On August 28, 2014, the Company replaced the existing loan on the property with a new loan that bears interest at an effective interest rate of 4.00% and matures on September 1, 2024. The replacement of the existing loan resulted in a loss of $46 on the early extinguishment of debt.

Debt premiums (discounts) on mortgage notes payable

Debt premiums (discounts) consist of the following:



Property Pledged as Collateral	September 30, 2014			December 31, 2013
Arrowhead Towne Center	$	12,337		$	14,642
Camelback Colonnade	1,233			2,120
Deptford Mall	(10		)	(14		)
Fashion Outlets of Niagara Falls USA	5,646			6,342
Superstition Springs Center	658			895
Valley Mall	(154		)	(219		)
	$	19,710		$	23,766

Acquisitions: (Tables)

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following is a summary of the allocation of the fair value of Camelback Colonnade:



Property	$	98,160
Deferred charges	8,284
Cash and cash equivalents	1,280
Restricted cash	1,139
Tenant receivables	615
Other assets	380
Total assets acquired	109,858
Mortgage note payable	49,465
Accounts payable	54
Other accrued liabilities	4,752
Total liabilities assumed	54,271
Fair value of acquired net assets (at 100% ownership)	$	55,587

The following is a summary of the allocation of the fair value of Superstition Springs Center:



Property	$	114,373
Deferred charges	12,353
Cash and cash equivalents	8,894
Tenant receivables	51
Other assets	11,535
Total assets acquired	147,206
Mortgage note payable	68,448
Accounts payable	119
Other accrued liabilities	7,637
Total liabilities assumed	76,204
Fair value of acquired net assets (at 100% ownership)	$	71,002

The following is a summary of the allocation of the fair value of Cascade Mall:



Property	$	28,924
Deferred charges	6,660
Other assets	202
Total assets acquired	35,786
Other accrued liabilities	4,786
Total liabilities assumed	4,786
Fair value of acquired net assets (at 100% ownership)	$	31,000

The following is a summary of the allocation of the fair value of Green Acres Mall:



Property	$	477,673
Deferred charges	45,130
Other assets	19,125
Total assets acquired	541,928
Other accrued liabilities	41,928
Total liabilities assumed	41,928
Fair value of acquired net assets	$	500,000

Schedule of reconciliation of the purchase price to the fair value of the acquired net assets

The following is the reconciliation of the purchase price to the fair value of the acquired net assets:



Purchase price	$	46,162
Less debt assumed	(22,500		)
Carrying value of investment	32,476
Remeasurement gain	14,864
Fair value of acquired net assets (at 100% ownership)	$	71,002

Summary of gain on remeasurement of existing investment

The following is the reconciliation of the purchase price to the fair value of the acquired net assets:



Purchase price	$	15,233
Carrying value of investment	15,767
Fair value of acquired net assets (at 100% ownership)	$	31,000

The Company determined that the purchase price represented the fair value of the additional ownership interest in Superstition Springs Center that was acquired.



Fair value of existing ownership interest (at 66.7% ownership)	$	47,340
Carrying value of investment	(32,476		)
Gain on remeasurement	$	14,864

The Company recognized the following remeasurement gain on the Camelback Colonnade Restructuring:



Fair value of existing ownership interest (at 73.2% ownership)	$	41,690
Carrying value of investment	(5,349		)
Gain on remeasurement	$	36,341

Schedule of pro forma total revenue and income from continuing operations

The following unaudited pro forma financial information for the three and nine months ended September 30, 2014 and 2013 assumes all of the above transactions took place on January 1, 2013:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
Pro forma revenue (1)	$	263,492	$	267,091	$	785,038	$	773,343
Pro forma income from continuing operations (1)	$	38,744	$	13,492	$	73,847	$	122,976

(1)

Related-Party Transactions: (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of fees charged to unconsolidated joint ventures

The following are fees charged to unconsolidated joint ventures:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
Management Fees	$	4,613	$	5,286	$	14,328	$	16,286
Development and Leasing Fees	3,046		3,810		8,424		8,284
	$	7,659	$	9,096	$	22,752	$	24,570

Share and Unit-Based Plans: (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Compensation cost under the share and unit-based plans

The following summarizes the compensation cost under the share and unit-based plans:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
LTIP Units	$	3,465	$	4,743	$	25,133	$	12,393
Stock awards	84		121		281		353
Stock units	1,134		674		3,775		3,165
Stock options	4		4		12		12
Phantom stock units	296		248		902		735
	$	4,983	$	5,790	$	30,103	$	16,658

Summary of activity of non-vested LTIP Units, stock awards, phantom stock and stock units

The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:



	LTIP Units				Stock Awards				Phantom Stock Units				Stock Units
	Units		Value(1)		Shares		Value(1)		Units		Value(1)		Units		Value(1)
Balance at January 1, 2014	—		$	—	19,001		$	56.77	17,575		$	58.66	137,318		$	57.24
Granted	589,443		53.18		—		—		8,916		62.53		70,505		60.24
Vested	(246,471	)	60.25		(9,812	)	54.45		(14,548	)	61.27		(68,151	)	55.10
Forfeited	—		—		—		—		—		—		—		—
Balance at September 30, 2014	342,972		$	48.11	9,189		$	59.25	11,943		$	58.36	139,672		$	59.80


(1)	Value represents the weighted average grant date fair value.

Summary of activity of SARs and stock options outstanding

The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:



	SARs				Stock Options
	Shares		Value(1)		Shares	Value(1)
Balance at January 1, 2014	1,070,991		$	56.66	10,068	$	59.57
Granted	—		—		—	—
Exercised	(54,082	)	56.63		—	—
Forfeited	—		—		—	—
Balance at September 30, 2014	1,016,909		$	56.66	10,068	$	59.57


(1)	Value represents the weighted average exercise price.

Income Taxes: (Tables)

9 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of income tax benefit of TRSs

The income tax benefit (provision) of the TRSs are as follows:



	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2014		2013			2014		2013
Current	$	—	$	(79	)	$	—	$	(235	)
Deferred	689		622			3,759		2,498
Income tax benefit	$	689	$	543		$	3,759	$	2,263

Organization: (Details) - entity	9 Months Ended
Organization: (Details) - entity	Sep. 30, 2014	Dec. 31, 2013
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of management companies (in entities)	7
The Macerich Partnership, L.P.
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership interest in operating partnership (as a percent)	93.00%	93.00%

Earnings per Share ("EPS"): (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Numerator

(Loss) income from discontinued operations

$ 38,744

$ 49,669

$ 76,373

$ 161,058

(8,844)

137,112

Net income attributable to noncontrolling interests

(2,830)

(2,702)

(6,552)

(22,958)

Net income attributable to the Company

35,914

38,123

69,821

275,212

Allocation of earnings to participating securities - basic

(122)

(80)

(373)

(257)

Allocation of earnings to participating securities - diluted

(122)

(80)

(373)

(257)

Numerator for basic earnings per share—net income attributable to common stockholders

35,792

38,043

69,448

274,955

Numerator for diluted earnings per share-net income (loss) available to common stockholders

$ 35,792

$ 38,043

$ 69,448

$ 274,955

Denominator (in shares)

Denominator for basic earnings per share—weighted average number of common shares outstanding

140,916

140,712

140,859

139,219

Effect of dilutive securities:

Share and unit-based compensation plans

^[1]

144

116

101

Denominator for diluted earnings per share—weighted average number of common shares outstanding

^[1]

141,060

140,773

140,975

139,320

Earnings per common share—basic: (in dollars per share)

$ 0.25

$ 0.33

$ 0.49

$ 1.05

0.00

(0.06)

0.00

0.92

Earnings per common share—diluted: (in dollars per share)

0.25

0.27

0.49

1.97

0.25

0.33

0.49

1.05

0.00

(0.06)

0.00

0.92

Company's capital (deficit)

$ 0.25

$ 0.27

$ 0.49

$ 1.97

[1]

Earnings per Share ("EPS"): (Details 2) - shares	3 Months Ended		9 Months Ended
Earnings per Share ("EPS"): (Details 2) - shares	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Convertible non-participating preferred units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from Diluted EPS (in shares)	184,304	184,304	184,304	197,183
Partnership unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from Diluted EPS (in shares)	10,110,716	9,621,313	10,072,321	9,920,197

Investments in Unconsolidated Joint Ventures - Narrative (Details) $ in Thousands										3 Months Ended		9 Months Ended
	Aug. 28, 2014 USD ($) ft²	Jul. 30, 2014 USD ($) ft²	Jun. 04, 2014 USD ($) ft²	Dec. 11, 2013 USD ($)	Oct. 24, 2013 USD ($) ft²	Oct. 08, 2013 USD ($) ft²	Jul. 31, 2013 USD ($) ft²	Jun. 12, 2013 USD ($) ft²	May 29, 2013 USD ($) ft²	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Sep. 17, 2013 ft²	Sep. 16, 2013
Investments in unconsolidated joint ventures:
Proceeds from sale				$ 292,500
Gain (loss) on remeasurement, sale or write down of assets, net										$ (738)	$ 38,104	$ (7,110)	$ 183,154
Repayments of long-term debt												229,099	2,694,945
Distributions to Co-venture Partner												12,021	14,496
Purchase price paid through assumption of debt by the Company												0	109,858
Pacific Premier Retail LP
Investments in unconsolidated joint ventures:
Gain (loss) on remeasurement, sale or write down of assets, net										(732)	$ 38,432	(7,044)	$ 182,781
Camelback Colonnade
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²														619,000
Ownership percentage															73.20%
Additional ownership interest acquired (as a percent)														67.50%
Redmond Town Center \| Pacific Premier Retail LP
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²							695,000		582,000
Proceeds from sale of property							$ 127,000		$ 185,000
Gain (loss) on remeasurement, sale or write down of assets, net							38,447		89,157
Gain on sale of property, pro rata share							$ 18,251		$ 44,424
Kitsap Mall \| Pacific Premier Retail LP
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²								846,000
Proceeds from sale of property								$ 127,000
Gain (loss) on remeasurement, sale or write down of assets, net								55,150
Gain on sale of property, pro rata share								$ 28,127
The Gallery
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²		1,405,000
Purchase price		$ 106,800
Ownership percentage acquired		50.00%
Ridgmar Mall
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²						1,273,000
Proceeds from sale						$ 60,900
Gain (loss) on remeasurement, sale or write down of assets, net						6,243
Gain on sale of property, pro rata share						3,121
Repayments of long-term debt						51,657
Distributions to Co-venture Partner						$ 9,243
Wilshire Boulevard
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²	40,000
Proceeds from sale	$ 17,100
Gain (loss) on remeasurement, sale or write down of assets, net										$ 9,033		$ 9,033
Ownership percentage	30.00%
Purchase price funded by cash payment on acquisition	$ 15,386
Purchase price paid through assumption of debt by the Company	$ 1,714
Superstition Springs Land I
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²					1,082,000
Additional ownership interest acquired (as a percent)					33.30%
Purchase price					$ 46,162
Purchase price funded by cash payment on acquisition					23,662
Purchase price paid through assumption of debt by the Company					$ 22,500
Cascade Mall
Investments in unconsolidated joint ventures:
Property area (in square feet) \| ft²			593,000
Additional ownership interest acquired (as a percent)			49.00%
Purchase price funded by cash payment on acquisition			$ 15,233

Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details) - USD ($)
$ in Thousands

Sep. 30, 2014

Dec. 31, 2013

Assets:

Properties, net

^[1]

$ 3,798,082

$ 3,435,737

Other assets

^[1]

305,649

295,719

Total assets

^[1]

4,103,731

3,731,456

Liabilities and partners' capital:

Mortgage notes payable

^[1],[2]

3,420,951

3,518,215

Other liabilities

^[1]

242,861

202,444

^[1]

200,943

(25,367)

Outside partners' capital

^[1]

238,976

36,164

Total liabilities and partners' capital

^[1]

4,103,731

3,731,456

Company's capital (deficit)

^[1]

200,943

(25,367)

Basis adjustment

^[3]

472,808

474,658

Investments in unconsolidated joint ventures

673,751

449,291

Assets—Investments in unconsolidated joint ventures

927,424

701,483

Liabilities—Distributions in excess of investments in unconsolidated joint ventures

$ (253,673)

$ (252,192)

[1]	These amounts include the assets and liabilities of the following joint ventures as of September 30, 2014 and December 31, 2013: PacificPremierRetail LP TysonsCorner LLCAs of September 30, 2014: Total Assets$736,872 $340,973Total Liabilities$813,400 $873,896As of December 31, 2013: Total Assets$775,012 $356,871Total Liabilities$812,725 $887,413
[2]	Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of September 30, 2014 and December 31, 2013, a total of $33,540 could become recourse debt to the Company. As of September 30, 2014 and December 31, 2013, the Company had an indemnity agreement from a joint venture partner for $16,770 of the guaranteed amount.Included in mortgage notes payable are amounts due to affiliates of Northwestern Mutual Life ("NML") of $703,589 and $712,455 as of September 30, 2014 and December 31, 2013, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates—Broadway Plaza. Interest expense on these borrowings was $9,645 and $7,920 for the three months ended September 30, 2014 and 2013, respectively, and $28,992 and $21,717 for the nine months ended September 30, 2014 and 2013, respectively.
[3]	The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was $948 and $3,860 for the three months ended September 30, 2014 and 2013, respectively, and $3,227 and $9,753 for the nine months ended September 30, 2014 and 2013, respectively.

Investments in Unconsolidated Joint Ventures - Assets and Liabilities (Details) - USD ($)
$ in Thousands

Sep. 30, 2014

Dec. 31, 2013

Pacific Premier Retail LP

Total Assets

^[1]

$ 4,103,731

$ 3,731,456

Total Assets

736,872

775,012

Total Liabilities

813,400

812,725

Tysons Corner LLC

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Total Assets

340,973

356,871

Total Liabilities

$ 873,896

$ 887,413

[1]

These amounts include the assets and liabilities of the following joint ventures as of September 30, 2014 and December 31, 2013: PacificPremierRetail LP TysonsCorner LLCAs of September 30, 2014: Total Assets$736,872 $340,973Total Liabilities$813,400 $873,896As of December 31, 2013: Total Assets$775,012 $356,871Total Liabilities$812,725 $887,413

Investments in Unconsolidated Joint Ventures - Balance Sheet Footnotes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Investments in unconsolidated joint ventures:
Mortgage notes payable that could become recourse debt to the Company	$ 33,540		$ 33,540		$ 33,540
Indemnity of guaranteed amount	16,770		16,770		16,770
Amortization of difference between cost of investments and book value of underlying equity	948	$ 3,860	3,227	$ 9,753
Northwestern Mutual Life (NML)
Investments in unconsolidated joint ventures:
Mortgage notes payable to affiliate	703,589		703,589		$ 712,455
Interest expense on borrowings from related party	$ 9,645	$ 7,920	$ 28,992	$ 21,717

Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:
Minimum rents	$ 102,159	$ 102,710	$ 298,055	$ 319,175
Percentage rents	4,451	3,498	10,496	10,065
Tenant recoveries	49,487	51,780	145,360	156,841
Other	11,163	9,739	31,767	32,983
Total revenues	167,260	167,727	485,678	519,064
Expenses:
Shopping center and operating expenses	57,037	57,975	162,668	174,654
Interest expense	35,401	35,114	109,879	107,051
Depreciation and amortization	37,367	36,323	107,035	112,004
Total operating expenses	129,805	129,412	379,582	393,709
Gain (loss) on remeasurement, sale or write down of assets, net	(738)	38,104	(7,110)	183,154
Equity Method Investment, Summarized Financial Information, Gain (Loss) on Early Extinguishment of Debt		14		14
Net income	36,717	76,433	98,986	308,523
Company's equity in net income	16,935	35,161	44,607	145,477
Pacific Premier Retail LP
Revenues:
Minimum rents	25,095	27,426	76,829	91,779
Percentage rents	653	572	1,862	2,155
Tenant recoveries	11,495	12,115	34,614	40,555
Other	962	1,086	3,652	3,980
Total revenues	38,205	41,199	116,957	138,469
Expenses:
Shopping center and operating expenses	9,959	12,231	31,772	40,948
Interest expense	9,643	10,251	29,572	33,118
Depreciation and amortization	8,199	9,067	25,747	30,697
Total operating expenses	27,801	31,549	87,091	104,763
Gain (loss) on remeasurement, sale or write down of assets, net	(732)	38,432	(7,044)	182,781
Equity Method Investment, Summarized Financial Information, Gain (Loss) on Early Extinguishment of Debt		0		0
Net income	9,672	48,082	22,822	216,487
Company's equity in net income	4,379	21,567	9,865	105,684
Tysons Corner LLC
Revenues:
Minimum rents	15,542	15,344	47,516	46,526
Percentage rents	115	(12)	719	734
Tenant recoveries	11,757	11,304	35,140	34,025
Other	678	510	2,294	2,080
Total revenues	28,092	27,146	85,669	83,365
Expenses:
Shopping center and operating expenses	9,694	9,818	29,374	26,819
Interest expense	8,107	3,801	23,590	7,825
Depreciation and amortization	5,162	4,568	14,520	13,499
Total operating expenses	22,963	18,187	67,484	48,143
Gain (loss) on remeasurement, sale or write down of assets, net	0	0	0	0
Equity Method Investment, Summarized Financial Information, Gain (Loss) on Early Extinguishment of Debt		14		14
Net income	5,129	8,973	18,185	35,236
Company's equity in net income	988	2,919	4,357	12,957
Other Joint Ventures
Revenues:
Minimum rents	61,522	59,940	173,710	180,870
Percentage rents	3,683	2,938	7,915	7,176
Tenant recoveries	26,235	28,361	75,606	82,261
Other	9,523	8,143	25,821	26,923
Total revenues	100,963	99,382	283,052	297,230
Expenses:
Shopping center and operating expenses	37,384	35,926	101,522	106,887
Interest expense	17,651	21,062	56,717	66,108
Depreciation and amortization	24,006	22,688	66,768	67,808
Total operating expenses	79,041	79,676	225,007	240,803
Gain (loss) on remeasurement, sale or write down of assets, net	(6)	(328)	(66)	373
Equity Method Investment, Summarized Financial Information, Gain (Loss) on Early Extinguishment of Debt		0		0
Net income	21,916	19,378	57,979	56,800
Company's equity in net income	$ 11,568	$ 10,675	$ 30,385	$ 26,836

Property: (Details) $ in Thousands		3 Months Ended		9 Months Ended
Property: (Details) $ in Thousands	Sep. 17, 2013 USD ($)	Sep. 30, 2014 USD ($) ft²	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) ft²	Sep. 30, 2013 USD ($)	Aug. 28, 2014 ft²	Dec. 31, 2013 USD ($)
Property, Plant and Equipment [Line Items]
Land		$ 1,713,298		$ 1,713,298			$ 1,707,005
Buildings and improvements		6,508,764		6,508,764			6,555,212
Tenant improvements		545,336		545,336			537,754
Equipment and furnishings		144,950		144,950			152,198
Construction in progress		346,914		346,914			229,169
Total		9,259,262		9,259,262			9,181,338
Less accumulated depreciation		(1,688,626)		(1,688,626)			(1,559,572)
Property, net		7,570,636		7,570,636			$ 7,621,766
Depreciation expenses		68,663	$ 68,589	205,158	$ 200,222
Impairment loss		(238)	(27,972)	(8,754)	(27,972)
Gain (loss) on remeasurement, sale or write down of assets, net		9,561	8,249	(1,504)	12,279
Gain on the sale of assets		766	(120)	(181)	3,910
Gain (loss) on remeasurement, sale or write down of assets, net		(738)	38,104	(7,110)	$ 183,154
Wilshire Boulevard
Property, Plant and Equipment [Line Items]
Property area (in square feet) \| ft²						40,000
Gain (loss) on remeasurement, sale or write down of assets, net		$ 9,033		9,033
Ownership percentage						30.00%
Rotterdam Square
Property, Plant and Equipment [Line Items]
Gain (loss) on remeasurement, sale or write down of assets, net				$ (1,602)
Property area (in square feet) \| ft²		585,000		585,000
Somersville Town Center
Property, Plant and Equipment [Line Items]
Property area (in square feet) \| ft²		348,000		348,000
Lake Square Mall
Property, Plant and Equipment [Line Items]
Property area (in square feet) \| ft²		559,000		559,000
Camelback Colonnade
Property, Plant and Equipment [Line Items]
Remeasurement gain	$ 36,341		$ 36,341

Tenant and Other Receivables, net: (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Mar. 17, 2014	Dec. 31, 2013
Components of tenant and other receivables, net
Allowance for doubtful accounts	$ 4,224		$ 2,878
Deferred rent receivable due to straight-line rent adjustments	56,943		53,380
Accrued percentage rents
Components of tenant and other receivables, net
Accounts receivable	3,130		$ 9,824
6.5% Note Receivable
Components of tenant and other receivables, net
Notes receivable	$ 6,461	$ 6,500
Note receivable, interest rate (as a percent)		6.46%
5.0% Note Receivable
Components of tenant and other receivables, net
Notes receivable		$ 3,103
Note receivable, interest rate (as a percent)		5.00%

Deferred Charges and Other Assets, net: (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Leasing

$ 227,151

$ 223,038

Financing

50,896

51,695

Intangible assets:

In-place lease values

185,832

205,651

Leasing commissions and legal costs

46,982

50,594

Above-market leases

111,941

118,770

Deferred tax assets

35,115

31,356

Deferred compensation plan assets

33,784

30,932

Other assets

69,598

65,793

Deferred charges and other assets, gross

761,299

777,829

Deferred charges and other assets, net

^[1]

(268,602)

(244,771)

492,697

533,058

Accumulated amortization for intangible assets

95,529

$ 89,141

Amortization expense for intangible assets

$ 11,850

$ 12,173

$ 35,948

$ 40,263

[1]

Deferred Charges and Other Assets, net: (Details 2) - USD ($)
$ in Thousands

Sep. 30, 2014

Dec. 31, 2013

Allocated values of leases

$ (95,529)

$ (89,141)

Above-Market Leases

Allocated values of leases

Original allocated value

111,941

118,770

(53,781)

(46,912)

Allocated value net

58,160

71,858

Below-Market Leases

Allocated values of leases

Original allocated value

^[1]

182,593

187,537

^[1]

(88,838)

(79,271)

Allocated value net

^[1]

$ 93,755

$ 108,266

[1]	Below-market leases are included in other accrued liabilities.

Mortgage Notes Payable - Schedule of Mortgage Notes Payable (Details) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2014

Dec. 31, 2013

^[1]

$ 265,269

$ 269,381

^[1]

4,118,969

4,145,809

Arrowhead Towne Center

^[1]

^[1]

$ 230,552

236,028

^[2]

2.76%

^[3]

$ 1,131

Camelback Colonnade

^[1]

^[1]

$ 48,233

49,120

^[2]

2.16%

^[3]

$ 178

Chandler Fashion Center

^[1],[4]

^[1],[4]

$ 200,000

200,000

^[2],[4]

3.77%

^[3],[4]

$ 625

Danbury Fair Mall

^[1]

114,994

117,120

^[1]

$ 114,993

117,120

^[2]

5.53%

^[3]

$ 1,538

Deptford Mall One

^[1]

^[1]

$ 198,785

201,622

^[2]

3.76%

^[3]

$ 947

Deptford Mall Two

^[1]

^[1]

$ 14,354

14,551

^[2]

6.46%

^[3]

$ 101

Eastland Mall

^[1]

^[1]

$ 168,000

168,000

^[2]

5.79%

Fashion Outlets of Chicago

^[3]

$ 811

^[1],[5]

^[1],[5]

$ 117,350

$ 91,383

2.95%

^[2],[5]

2.96%

Fashion Outlets of Niagara Falls USA

^[3],[5]

$ 259

^[1]

$ 0

^[1]

$ 122,053

124,030

^[2]

4.89%

^[3]

$ 727

Flagstaff Mall

^[1]

^[1]

$ 37,000

37,000

^[2]

5.03%

^[3]

$ 151

FlatIron Crossing

^[1]

^[1]

$ 263,144

268,000

^[2]

3.90%

^[3]

$ 1,393

Freehold Raceway Mall

^[1],[4]

^[1],[4]

$ 230,255

232,900

^[2],[4]

4.20%

^[3],[4]

$ 1,132

Fresno Fashion Fair

^[1]

78,427

79,391

^[1]

$ 78,427

79,390

^[2]

6.76%

^[3]

$ 1,104

Great Northern Mall

^[1],[6]

^[1],[6]

$ 34,747

35,484

^[2],[6]

6.54%

^[3],[6]

$ 234

Green Acres Mall

^[1]

^[1]

$ 315,126

319,850

^[2]

3.61%

^[3]

$ 1,447

Kings Plaza

^[1]

^[1]

$ 483,251

490,548

^[2]

3.67%

^[3]

$ 2,229

The Mall at Northgate

^[1],[7]

^[1],[7]

$ 64,000

3.03%

^[2],[7]

3.04%

^[3],[7]

$ 128

The Oaks

^[1]

$ 0

^[1]

$ 211,224

214,239

^[2]

4.14%

^[3]

$ 1,064

Pacific View

^[1]

^[1]

$ 133,869

135,835

^[2]

4.08%

^[3]

$ 668

Santa Monica Place

^[1]

^[1]

$ 231,638

235,445

^[2]

2.99%

SanTan Village Regional Center

^[3]

$ 1,004

^[1]

^[1]

$ 134,523

136,629

^[2]

3.14%

^[3]

$ 589

South Plains Mall

^[1],[8]

^[1],[8]

$ 71,725

99,833

^[2],[8]

4.78%

Superstition Springs Center

^[3],[8]

$ 383

^[1]

^[1]

$ 68,158

68,395

^[2]

1.98%

^[3]

$ 138

Towne Mall

^[1]

^[1]

$ 22,707

22,996

^[2]

4.48%

^[3]

$ 117

Tucson La Encantada

^[1]

71,848

72,870

^[1]

$ 0

^[2]

4.23%

^[3]

$ 368

Valley Mall

^[1]

^[1]

$ 41,571

42,155

^[2]

5.85%

^[3]

$ 280

Valley River Center

^[1]

^[1]

$ 120,000

120,000

^[2]

5.59%

^[3]

$ 558

Mall of Victor Valley

^[1],[9]

^[1],[9]

$ 115,000

90,000

^[2],[9]

4.00%

^[3],[9]

$ 380

Vintage Faire Mall

^[1]

^[1]

$ 98,006

99,083

^[2]

5.81%

^[3]

$ 586

Westside Pavilion

^[1]

^[1]

$ 150,278

$ 152,173

^[2]

4.49%

^[3]

$ 783

[1]	The mortgage notes payable balances include the unamortized debt premiums (discounts). Debt premiums (discounts) represent the excess (deficiency) of the fair value of debt over (under) the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.Debt premiums (discounts) consist of the following:Property Pledged as CollateralSeptember 30, 2014 December 31, 2013Arrowhead Towne Center$12,337 $14,642Camelback Colonnade1,233 2,120Deptford Mall(10) (14)Fashion Outlets of Niagara Falls USA5,646 6,342Superstition Springs Center658 895Valley Mall(154) (219) $19,710 $23,766
[2]	The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.
[3]	The monthly debt service represents the payment of principal and interest.
[4]	A 49.9% interest in the loan has been assumed by a third party in connection with a co-venture arrangement (See Note 10—Co-Venture Arrangement).
[5]	The construction loan on the property allows for borrowings of up to $140,000, bears interest at LIBOR plus 2.50% and matures on March 5, 2017, including extension options. At September 30, 2014 and December 31, 2013, the total interest rate was 2.95% and 2.96%, respectively.
[6]	On March 24, 2014, the loan was extended to January 1, 2015.
[7]	The loan bears interest at LIBOR plus 2.25% and matures on March 1, 2017. At September 30, 2014 and December 31, 2013, the total interest rate was 3.03% and 3.04%, respectively.
[8]	On February 7, 2014, the Company paid off in full one of the two loans on the property, which resulted in a loss of $359 on the early extinguishment of debt.
[9]	On August 28, 2014, the Company replaced the existing loan on the property with a new loan that bears interest at an effective interest rate of 4.00% and matures on September 1, 2024. The replacement of the existing loan resulted in a loss of $46 on the early extinguishment of debt.

Mortgage Notes Payable - Premiums and Discounts (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Mortgage loans payable on real estate
Debt premiums (discounts), net	$ 19,710	$ 23,766
Arrowhead Towne Center
Mortgage loans payable on real estate
Debt premiums	12,337	14,642
Camelback Colonnade
Mortgage loans payable on real estate
Debt premiums	1,233	2,120
Deptford Mall One
Mortgage loans payable on real estate
Debt discounts	(10)	(14)
Fashion Outlets of Niagara Falls USA
Mortgage loans payable on real estate
Debt premiums	5,646	6,342
Superstition Springs Center
Mortgage loans payable on real estate
Debt premiums	658	895
Valley Mall
Mortgage loans payable on real estate
Debt discounts	$ (154)	$ (219)

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

3 Months Ended

9 Months Ended

Aug. 28, 2014

Feb. 07, 2014

Sep. 30, 2009

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Loss on extinguishment of debt

$ (46,000)

$ (6,000)

$ (405,000)

$ 1,938,000

Mortgage notes payable which could become recourse

72,175,000

$ 72,175,000

$ 77,192,000

Period of loan maturities expected to be refinanced, restructured, extended or paid-off

12 months

Interest expense capitalized

3,930,000

$ 2,887,000

$ 9,513,000

$ 8,227,000

Fair value of mortgage notes payable

$ 4,452,658,000

4,452,658,000

$ 4,500,177,000

Fashion Outlets of Chicago

Amount of additional borrowing

$ 140,000,000

Interest rate basis

LIBOR

Interest rate spread over basis (as a percent)

2.50%

2.95%

^[1],[2]

2.95%

^[1],[2]

2.96%

The Mall at Northgate

Interest rate spread over basis (as a percent)

Interest rate basis

LIBOR

2.25%

3.03%

^[2],[3]

3.03%

^[2],[3]

3.04%

South Plains Mall

Loss on extinguishment of debt

^[2],[4]

4.78%

$ 359,000

Mall of Victor Valley

Loss on extinguishment of debt

^[2],[5]

4.00%

$ 46,000

Freehold Raceway Mall and Chandler Fashion Center

Percentage of loan assumed by third party (as a percent)

49.90%

[1]	The construction loan on the property allows for borrowings of up to $140,000, bears interest at LIBOR plus 2.50% and matures on March 5, 2017, including extension options. At September 30, 2014 and December 31, 2013, the total interest rate was 2.95% and 2.96%, respectively.
[2]	The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.
[3]	The loan bears interest at LIBOR plus 2.25% and matures on March 1, 2017. At September 30, 2014 and December 31, 2013, the total interest rate was 3.03% and 3.04%, respectively.
[4]	On February 7, 2014, the Company paid off in full one of the two loans on the property, which resulted in a loss of $359 on the early extinguishment of debt.
[5]	On August 28, 2014, the Company replaced the existing loan on the property with a new loan that bears interest at an effective interest rate of 4.00% and matures on September 1, 2024. The replacement of the existing loan resulted in a loss of $46 on the early extinguishment of debt.

Bank and Other Notes Payable: (Details) - USD ($)				9 Months Ended	12 Months Ended
Bank and Other Notes Payable: (Details) - USD ($)	Aug. 06, 2013	Mar. 29, 2013	Dec. 08, 2011	Sep. 30, 2014	Dec. 31, 2013
Line of Credit
Mortgage loans payable on real estate
Revolving line of credit				$ 1,500,000,000
Interest rate spread over basis (as a percent)				1.38%
Expansion borrowing capacity				$ 2,000,000,000
Outstanding borrowings under the line of credit				$ 410,000,000	$ 30,000,000
Line of credit, average interest rate (as a percent)				1.81%	1.85%
Fair value of outstanding line of credit				$ 387,244,000	$ 28,214,000
Interest rate basis				LIBOR
Line of Credit \| Low end of range
Mortgage loans payable on real estate
Interest rate spread over basis (as a percent)	1.375%			1.75%
Interest rate basis	LIBOR			LIBOR
Line of Credit \| High end of range
Mortgage loans payable on real estate
Interest rate spread over basis (as a percent)	2.00%			3.00%
Unsecured term loan
Mortgage loans payable on real estate
Interest rate spread over basis (as a percent)				1.95%
Amount of additional borrowing			$ 125,000,000	$ 125,000,000
Interest rate basis			LIBOR	LIBOR
Interest rate (as a percent)				2.25%	2.51%
Debt, fair value				$ 119,636,000	$ 120,802,000
Unsecured term loan \| Low end of range
Mortgage loans payable on real estate
Interest rate spread over basis (as a percent)			1.95%
Unsecured term loan \| High end of range
Mortgage loans payable on real estate
Interest rate spread over basis (as a percent)			3.20%
Convertible Notes Payable
Mortgage loans payable on real estate
Term of extension (in years)				1 year
Prasada Note
Mortgage loans payable on real estate
Amount of additional borrowing		$ 13,330,000
Interest rate on debt (as a percent)		5.25%
Debt, carrying value				$ 11,301,000	12,537,000
Debt, fair value				$ 11,699,000	$ 13,114,000

Co-Venture Arrangement: (Details) - USD ($) $ in Thousands	Sep. 30, 2009	Sep. 30, 2014	Dec. 31, 2013
Co-Venture Arrangement:
Co-venture obligation		$ 75,669	$ 81,515
Freehold Raceway Mall and Chandler Fashion Center
Co-Venture Arrangement:
Percentage of loan assumed by third party (as a percent)	49.90%
Co-venture obligation	$ 168,154

Noncontrolling Interests: (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2014	Aug. 20, 2014	Dec. 31, 2013	Aug. 17, 2012
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Limited partnership interest of the operating partnership (as a percent)	7.00%		7.00%
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Number of trading days used to calculate redemption value (in days)	10 days
Redemption value of outstanding OP Units not owned by the Company	$ 647,988		$ 587,917
The Macerich Partnership, L.P.
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership interest in operating partnership (as a percent)	93.00%		93.00%

Stockholders' Equity (Details) - USD ($)	12 Months Ended
Stockholders' Equity (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2014	Aug. 20, 2014	Aug. 17, 2012
Stockholders' Equity Note [Abstract]
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01	$ 0.01	$ 0.01
Maximum price of common stock available to be issued				$ 500,000,000	$ 500,000,000
Commission to sales agent (as a percent)					2.00%
Common stock sold (in shares)	2,456,956	2,961,903
Proceeds from sale	$ 173,011,000	$ 177,896,000
Shares issued during the period	$ 171,102,000	$ 175,649,000

Acquisitions - Narrative (Details) $ in Thousands							4 Months Ended	9 Months Ended		12 Months Ended
Acquisitions - Narrative (Details) $ in Thousands	Jun. 04, 2014 USD ($) ft²	Oct. 24, 2013 USD ($) ft²	Apr. 25, 2013 USD ($) a	Jan. 31, 2013 USD ($)	Jan. 24, 2013 USD ($) ft²	Jul. 22, 2011 USD ($) ft²	Sep. 30, 2014 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Dec. 31, 2012 USD ($)	Jun. 03, 2014	Sep. 17, 2013 ft²	Sep. 16, 2013
Acquisition
Purchase price paid through assumption of debt by the Company								$ 0	$ 109,858
Fashion Outlets of Niagara
Acquisition
Property area (in square feet) \| ft²						517,000
Contingent consideration							$ 18,667	$ 18,667
Purchase price						$ 200,000
Green Acres Mall
Acquisition
Property area (in square feet) \| ft²					1,791,000
Purchase price					$ 500,000
Deposits paid										$ 30,000
Purchase price, balance remaining after deposit					470,000
Face amount of debt					325,000
Amount of additional borrowing				$ 225,000	$ 100,000
Green Acres Adjacent
Acquisition
Property area (in square feet) \| a			19
Purchase price			$ 22,577
Superstition Springs Land I
Acquisition
Property area (in square feet) \| ft²		1,082,000
Purchase price		$ 46,162
Additional ownership interest acquired (as a percent)		33.30%
Purchase price funded by cash payment on acquisition		$ 23,662
Purchase price paid through assumption of debt by the Company		$ 22,500
Ownership interest at completion of acquisition (as a percent)		100.00%
Cascade Mall
Acquisition
Property area (in square feet) \| ft²	593,000
Additional ownership interest acquired (as a percent)	49.00%
Purchase price funded by cash payment on acquisition	$ 15,233
Ownership interest at completion of acquisition (as a percent)		100.00%									100.00%
Incremental revenue							2,337
Incremental earnings							$ 667
Camelback Colonnade
Acquisition
Property area (in square feet) \| ft²												619,000
Ownership percentage													73.20%
Additional ownership interest acquired (as a percent)												67.50%
Ownership interest at completion of acquisition (as a percent)													100.00%

Acquisitions - Allocation of Fair Value (Details) - USD ($) $ in Thousands	Jun. 04, 2014	Oct. 24, 2013	Sep. 17, 2013	Jan. 24, 2013
Green Acres Mall
Acquisition
Property				$ 477,673
Deferred charges				45,130
Other assets				19,125
Total assets acquired				541,928
Other accrued liabilities				41,928
Total liabilities assumed				41,928
Fair value of acquired net assets (at 100% ownership)				$ 500,000
Camelback Colonnade
Acquisition
Cash and cash equivalents			$ 1,280
Restricted cash			1,139
Tenant receivables			615
Property			98,160
Deferred charges			8,284
Other assets			380
Total assets acquired			109,858
Accounts payable			54
Mortgage note payable			49,465
Other accrued liabilities			4,752
Total liabilities assumed			54,271
Fair value of acquired net assets (at 100% ownership)			$ 55,587
Superstition Springs Land I
Acquisition
Cash and cash equivalents		$ 8,894
Tenant receivables		51
Property		114,373
Deferred charges		12,353
Other assets		11,535
Total assets acquired		147,206
Accounts payable		119
Mortgage note payable		68,448
Other accrued liabilities		7,637
Total liabilities assumed		76,204
Fair value of acquired net assets (at 100% ownership)		$ 71,002
Cascade Mall
Acquisition
Property	$ 28,924
Deferred charges	6,660
Other assets	202
Total assets acquired	35,786
Other accrued liabilities	4,786
Total liabilities assumed	4,786
Fair value of acquired net assets (at 100% ownership)	$ 31,000

Acquisitions - Remeasurement Gain (Details) - USD ($) $ in Thousands			3 Months Ended
	Oct. 24, 2013	Sep. 17, 2013	Sep. 30, 2013	Sep. 30, 2014	Dec. 31, 2013	Sep. 16, 2013
Acquisition
Carrying value of investment				$ (927,424)	$ (701,483)
Camelback Colonnade
Acquisition
Fair value of existing ownership interest (at % ownership)		$ 41,690
Carrying value of investment		(5,349)
Remeasurement gain		$ 36,341	$ 36,341
Superstition Springs Land I
Acquisition
Fair value of existing ownership interest (at % ownership)	$ 47,340
Carrying value of investment	(32,476)
Remeasurement gain	$ 14,864
Ownership interest before acquisition (as a percent)	66.70%
Camelback Colonnade
Acquisition
Ownership interest before acquisition (as a percent)						73.20%

Acquisitions - Reconciliation of Purchase Price (Details) - USD ($) $ in Thousands		9 Months Ended
	Oct. 24, 2013	Sep. 30, 2014	Sep. 30, 2013	Jun. 04, 2014	Jun. 03, 2014	Dec. 31, 2013	Sep. 16, 2013
Acquisition
Less debt assumed		$ 0	$ (109,858)
Carrying value of investment		$ 927,424				$ 701,483
Superstition Springs Land I
Acquisition
Purchase price	$ 46,162
Less debt assumed	(22,500)
Carrying value of investment	32,476
Remeasurement gain	14,864
Fair value of acquired net assets (at 100% ownership)	$ 71,002
Ownership interest at completion of acquisition (as a percent)	100.00%
Ownership interest before acquisition (as a percent)	66.70%
Cascade Mall
Acquisition
Carrying value of investment				$ 15,767
Fair value of acquired net assets (at 100% ownership)				$ 31,000
Ownership interest at completion of acquisition (as a percent)	100.00%				100.00%
Camelback Colonnade
Acquisition
Ownership interest at completion of acquisition (as a percent)							100.00%
Ownership interest before acquisition (as a percent)							73.20%

Acquisitions: Acquisition - Pro Forma Results (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Business Combinations [Abstract]

Total revenues

^[1]

$ 263,492

$ 267,091

$ 785,038

$ 773,343

Income (loss) from continuing operations

^[1]

$ 38,744

$ 13,492

$ 73,847

$ 122,976

[1]

Discontinued Operations: (Details) $ in Thousands									3 Months Ended		9 Months Ended
Discontinued Operations: (Details) $ in Thousands	Dec. 11, 2013 USD ($) ft²	Dec. 04, 2013 USD ($)	Oct. 23, 2013 USD ($)	Oct. 15, 2013 USD ($)	Sep. 30, 2013 USD ($) ft²	Sep. 11, 2013 USD ($)	Jun. 04, 2013 USD ($) ft²	May 31, 2013 USD ($) ft²	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($) ft²	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($) ft²
Discontinued Operations:
Proceeds from sale	$ 292,500
Gain (loss) from sale									$ 0	$ (7,767)	$ 0	$ 134,145
Gain (loss) on extinguishment of debt									(46)	(6)	(405)	1,938
Revenues from discontinued operations									10,926		47,427
(Loss) income from discontinued operations									$ 0	$ (8,844)	$ 0	$ 137,112
Green Tree Mall
Discontinued Operations:
Property area (in square feet) \| ft²								793,000
Proceeds from sale								$ 79,000
Gain (loss) from sale								$ 59,767
Northridge Mall
Discontinued Operations:
Property area (in square feet) \| ft²							890,000
Mervyn's
Discontinued Operations:
Proceeds from sale		$ 10,475	$ 5,430	$ 5,700		$ 12,000
Gain (loss) from sale		$ (5,257)	$ 1,695	$ (2,031)		$ (2,633)
Rimrock Mall
Discontinued Operations:
Property area (in square feet) \| ft²							603,000
Rimrock Mall and Nortridge Mall
Discontinued Operations:
Proceeds from sale							$ 230,000
Gain (loss) from sale							$ 82,151
Fiesta Mall
Discontinued Operations:
Property area (in square feet) \| ft²					933,000					933,000		933,000
Gain (loss) on extinguishment of debt					$ 1,401
Chesterfield Towne Center
Discontinued Operations:
Property area (in square feet) \| ft²	1,016,000
Cash payment	$ 67,763
Assumption of debt	$ 109,737
Centre at Salisbury
Discontinued Operations:
Property area (in square feet) \| ft²	862,000
Assumption of debt	$ 115,000
Chesterfield Towne Center
Discontinued Operations:
Gain (loss) from sale	$ 151,467

Commitments and Contingencies: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Contingent Liabilities
Operating lease rent expense	$ 2,667	$ 2,580	$ 8,044	$ 7,881
Contingent liability under letters of credit	18,388		18,388		$ 18,862
Outstanding obligations under construction agreements	$ 39,522		$ 39,522

Related-Party Transactions: (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
Related-Party Transactions: (Details) $ in Thousands	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) note	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($) note
Related party transactions
Interest expense, related party	$ 3,671	$ 3,745	$ 11,069	$ 11,289
Loans to unconsolidated joint ventures	3,361		3,361		$ 2,756
Due from affiliates	31,422		31,422		$ 30,132
Related parties note receivable, AWE Talisman Company
Related party transactions
Interest income, related party	$ 156	157	$ 467	467
Number of notes receivable (in notes) \| note			2		2
Note receivable, interest rate (as a percent)	5.00%		5.00%
Debt, carrying value	$ 14,071		$ 14,071		$ 13,603
Related parties note receivable, RED Consolidated Holdings, LLC
Related party transactions
Interest income, related party	154	176	468	356
Due from affiliates	$ 11,454		$ 11,454		12,707
Note receivable, interest rate (as a percent)	5.25%		5.25%
Northwestern Mutual Life (NML)
Related party transactions
Interest expense payable, related party	$ 1,322		$ 1,322		1,240
Unconsolidated joint ventures
Related party transactions
Interest income, related party	53	58	162	178
Due from affiliates	5,897		5,897		$ 3,822
Unconsolidated joint ventures and third-party managed properties
Related party transactions
Management Fees	4,613	5,286	14,328	16,286
Development and Leasing Fees	3,046	3,810	8,424	8,284
Fees charged to unconsolidated joint ventures and third-party managed properties	$ 7,659	$ 9,096	$ 22,752	$ 24,570

Share and Unit-Based Plans - Narrative (Details)
$ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Mar. 07, 2014

executive_officer

$ / shares

Dec. 31, 2013

executive_officer

$ / shares

Sep. 30, 2014

USD ($)

Sep. 30, 2013

USD ($)

Sep. 30, 2014

USD ($)

$ / shares

Sep. 30, 2013

USD ($)

Capitalized share and unit-based compensation costs | $

$ 525

$ 657

$ 4,886

$ 2,745

Stock units

Conversion rate of shares

Average grant date fair value (in dollars per share) | $ / shares

70,505

^[1]

$ 60.24

Unrecognized compensation cost of share and unit-based plans | $

2,870

$ 2,870

LTIP Units

Conversion rate of shares

Average grant date fair value (in dollars per share) | $ / shares

589,443

^[1]

$ 53.18

Look-back period (in years)

1 year

Unrecognized compensation cost of share and unit-based plans | $

6,216

$ 6,216

Stock awards

Average grant date fair value (in dollars per share) | $ / shares

^[1]

$ 0.00

Unrecognized compensation cost of share and unit-based plans | $

332

$ 332

Stock options

Unrecognized compensation cost of share and unit-based plans | $

$ 47

Phantom stock units

Average grant date fair value (in dollars per share) | $ / shares

8,916

^[1]

$ 62.53

Unrecognized compensation cost of share and unit-based plans | $

$ 697

Executive Officer | LTIP Units

Number of executives receiving grants (in executive officers) | executive_officer

246,471

70,042

Average grant date fair value (in dollars per share) | $ / shares

$ 60.25

$ 58.89

Absolute stockholder return requirement (as a percent)

3.00%

Executive Officer | Long Units, Market Indexed

Average grant date fair value (in dollars per share) | $ / shares

272,930

$ 45.34

[1]	Value represents the weighted average grant date fair value.

Share and Unit-Based Plans - Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share and unit-based plans
Compensation cost under share and unit-based plans	$ 4,983	$ 5,790	$ 30,103	$ 16,658
LTIP Units
Share and unit-based plans
Compensation cost under share and unit-based plans	3,465	4,743	25,133	12,393
Stock awards
Share and unit-based plans
Compensation cost under share and unit-based plans	84	121	281	353
Stock units
Share and unit-based plans
Compensation cost under share and unit-based plans	1,134	674	3,775	3,165
Stock options
Share and unit-based plans
Compensation cost under share and unit-based plans	4	4	12	12
Phantom stock units
Share and unit-based plans
Compensation cost under share and unit-based plans	$ 296	$ 248	$ 902	$ 735

Share and Unit-Based Plans - Nonvested Equity Awards (Details)

9 Months Ended

Sep. 30, 2014

$ / shares

LTIP Units

589,443

(246,471)

342,972

$ 0.00

^[1]

53.18

^[1]

60.25

^[1]

0.00

^[1]

$ 48.11

^[1]

Stock awards

19,001

(9,812)

9,189

$ 56.77

^[1]

0.00

^[1]

54.45

^[1]

0.00

^[1]

$ 59.25

^[1]

Phantom stock units

17,575

8,916

(14,548)

11,943

$ 58.66

^[1]

62.53

^[1]

61.27

^[1]

0.00

^[1]

$ 58.36

^[1]

Stock units

137,318

70,505

(68,151)

139,672

$ 57.24

^[1]

60.24

^[1]

55.10

^[1]

0.00

^[1]

$ 59.80

^[1]

[1]	Value represents the weighted average grant date fair value.

Share and Unit-Based Plans - SARs (Details)

9 Months Ended

Sep. 30, 2014

$ / shares

SARs

SARs (in shares)

1,070,991

Exercised | shares

(54,082)

1,016,909

$ 56.66

^[1]

0.00

^[1]

Exercised | $ / shares

56.63

^[1]

0.00

^[1]

$ 56.66

^[1]

Stock options

Stock Options (in shares)

10,068

Exercised | shares

10,068

$ 59.57

^[1]

0.00

^[1]

Exercised | $ / shares

0.00

^[1]

0.00

^[1]