MACERICH CO

For the period ended Dec 31, 2023. Filed Feb 26, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 26, 2024

MAC$25.62+1.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Schedule III—Real estate and accumulated depreciation

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

Schedule III—Real Estate and Accumulated Depreciation (Continued)

Initial Cost to Company · Gross Amount at Which Carried at Close of Period
Shopping Centers/Entities	Land	Building andImprovements	EquipmentandFurnishings	Cost CapitalizedSubsequent toAcquisition	Land	Building andImprovements	EquipmentandFurnishings	Constructionin Progress	Total	AccumulatedDepreciation	Total CostNet ofAccumulatedDepreciation
Other freestanding stores	47,083	111,936	—	(3,388)	13,717	77,822	294	63,798	155,631	12,127	143,504
Other land and development properties	37,850	—	—	(25,842)	466	6,047	—	5,495	12,008	1,727	10,281
	$1,395,586	$4,906,495	$46,574	$2,486,952	$1,388,345	$6,918,273	$188,493	$340,496	$8,835,607	$2,935,118	$5,900,489

See accompanying report of independent registered public accounting firm.

Schedule III—Real Estate and Accumulated Depreciation (Continued)

Depreciation of the Company's investment in buildings and improvements reflected in the consolidated statements of operations are calculated over the estimated useful lives of the asset as follows:

Buildings and improvements	5 - 40 years
Tenant improvements	5 - 7 years
Equipment and furnishings	5 - 7 years

The changes in total real estate assets for the three years ended December 31, 2023 are as follows:

	2023	2022	2021
Balances, beginning of year	$8,920,580	$8,847,550	$9,256,712
Additions	257,160	156,445	100,616
Dispositions and retirements	(342,133)	(83,415)	(509,778)
Balances, end of year	$8,835,607	$8,920,580	$8,847,550

The aggregate cost of the property included in the table above for federal income tax purposes was $9,080,781 (unaudited) at December 31, 2023.

The changes in accumulated depreciation for the three years ended December 31, 2023 are as follows:

	2023	2022	2021
Balances, beginning of year	$2,792,790	$2,563,344	$2,562,133
Additions	265,140	271,494	282,158
Dispositions and retirements	(122,812)	(42,048)	(280,947)
Balances, end of year	$2,935,118	$2,792,790	$2,563,344

See accompanying report of independent registered public accounting firm.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.