0001498828 2021-01-01 2021-06-30 0001498828 2021-07-28 0001498828 2021-06-30 0001498828 2020-12-31 0001498828 hhc:CondominiumRightsAndUnitSalesMember 2021-04-01 2021-06-30 0001498828 hhc:CondominiumRightsAndUnitSalesMember 2020-04-01 2020-06-30 0001498828 hhc:CondominiumRightsAndUnitSalesMember 2021-01-01 2021-06-30 0001498828 hhc:CondominiumRightsAndUnitSalesMember 2020-01-01 2020-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember 2021-04-01 2021-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember 2020-04-01 2020-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember 2021-01-01 2021-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember 2020-01-01 2020-06-30 0001498828 2021-04-01 2021-06-30 0001498828 2020-04-01 2020-06-30 0001498828 2020-01-01 2020-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember 2021-04-01 2021-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember 2020-04-01 2020-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember 2021-01-01 2021-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember 2020-01-01 2020-06-30 0001498828 hhc:BuilderPriceParticipationMember 2021-04-01 2021-06-30 0001498828 hhc:BuilderPriceParticipationMember 2020-04-01 2020-06-30 0001498828 hhc:BuilderPriceParticipationMember 2021-01-01 2021-06-30 0001498828 hhc:BuilderPriceParticipationMember 2020-01-01 2020-06-30 0001498828 us-gaap:CommonStockMember 2021-03-31 0001498828 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001498828 us-gaap:RetainedEarningsMember 2021-03-31 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-03-31 0001498828 us-gaap:TreasuryStockMember 2021-03-31 0001498828 us-gaap:ParentMember 2021-03-31 0001498828 us-gaap:NoncontrollingInterestMember 2021-03-31 0001498828 2021-03-31 0001498828 us-gaap:RetainedEarningsMember 2021-04-01 2021-06-30 0001498828 us-gaap:ParentMember 2021-04-01 2021-06-30 0001498828 us-gaap:NoncontrollingInterestMember 2021-04-01 2021-06-30 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-04-01 2021-06-30 0001498828 us-gaap:CommonStockMember 2021-04-01 2021-06-30 0001498828 us-gaap:AdditionalPaidInCapitalMember 2021-04-01 2021-06-30 0001498828 us-gaap:CommonStockMember 2021-06-30 0001498828 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001498828 us-gaap:RetainedEarningsMember 2021-06-30 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-06-30 0001498828 us-gaap:TreasuryStockMember 2021-06-30 0001498828 us-gaap:ParentMember 2021-06-30 0001498828 us-gaap:NoncontrollingInterestMember 2021-06-30 0001498828 us-gaap:CommonStockMember 2020-03-31 0001498828 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001498828 us-gaap:RetainedEarningsMember 2020-03-31 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001498828 us-gaap:TreasuryStockMember 2020-03-31 0001498828 us-gaap:ParentMember 2020-03-31 0001498828 us-gaap:NoncontrollingInterestMember 2020-03-31 0001498828 2020-03-31 0001498828 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0001498828 us-gaap:ParentMember 2020-04-01 2020-06-30 0001498828 us-gaap:NoncontrollingInterestMember 2020-04-01 2020-06-30 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0001498828 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0001498828 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0001498828 us-gaap:CommonStockMember 2020-06-30 0001498828 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0001498828 us-gaap:RetainedEarningsMember 2020-06-30 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0001498828 us-gaap:TreasuryStockMember 2020-06-30 0001498828 us-gaap:ParentMember 2020-06-30 0001498828 us-gaap:NoncontrollingInterestMember 2020-06-30 0001498828 2020-06-30 0001498828 us-gaap:CommonStockMember 2020-12-31 0001498828 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001498828 us-gaap:RetainedEarningsMember 2020-12-31 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001498828 us-gaap:TreasuryStockMember 2020-12-31 0001498828 us-gaap:ParentMember 2020-12-31 0001498828 us-gaap:NoncontrollingInterestMember 2020-12-31 0001498828 us-gaap:RetainedEarningsMember 2021-01-01 2021-06-30 0001498828 us-gaap:ParentMember 2021-01-01 2021-06-30 0001498828 us-gaap:NoncontrollingInterestMember 2021-01-01 2021-06-30 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-06-30 0001498828 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-06-30 0001498828 us-gaap:CommonStockMember 2021-01-01 2021-06-30 0001498828 us-gaap:CommonStockMember 2019-12-31 0001498828 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001498828 us-gaap:RetainedEarningsMember 2019-12-31 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001498828 us-gaap:TreasuryStockMember 2019-12-31 0001498828 us-gaap:ParentMember 2019-12-31 0001498828 us-gaap:NoncontrollingInterestMember 2019-12-31 0001498828 2019-12-31 0001498828 us-gaap:RetainedEarningsMember 2020-01-01 2020-06-30 0001498828 us-gaap:ParentMember 2020-01-01 2020-06-30 0001498828 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-06-30 0001498828 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-06-30 0001498828 2019-01-01 2019-12-31 0001498828 srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember us-gaap:RetainedEarningsMember 2019-12-31 0001498828 srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember us-gaap:ParentMember 2019-12-31 0001498828 srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember 2019-12-31 0001498828 us-gaap:CommonStockMember 2020-01-01 2020-06-30 0001498828 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-06-30 0001498828 hhc:TenantReceivablesMember 2021-06-30 0001498828 hhc:TenantReceivablesMember 2020-12-31 0001498828 hhc:StraightLineRentReceivablesMember 2021-06-30 0001498828 hhc:StraightLineRentReceivablesMember 2020-12-31 0001498828 hhc:OtherReceivablesMember 2021-06-30 0001498828 hhc:OtherReceivablesMember 2020-12-31 0001498828 us-gaap:CollectibilityOfReceivablesMember 2021-06-30 0001498828 hhc:COVID19Member 2021-04-01 2021-06-30 0001498828 hhc:COVID19Member 2020-04-01 2020-06-30 0001498828 hhc:COVID19Member 2021-01-01 2021-06-30 0001498828 hhc:COVID19Member 2020-01-01 2020-06-30 0001498828 us-gaap:CollectibilityOfReceivablesMember hhc:COVID19Member 2021-04-01 2021-06-30 0001498828 us-gaap:CollectibilityOfReceivablesMember hhc:COVID19Member 2020-04-01 2020-06-30 0001498828 us-gaap:CollectibilityOfReceivablesMember hhc:COVID19Member 2021-01-01 2021-06-30 0001498828 us-gaap:CollectibilityOfReceivablesMember hhc:COVID19Member 2020-01-01 2020-06-30 0001498828 hhc:COVID19Member 2021-06-30 0001498828 hhc:EmbassySuitesAtHughesLandingMember hhc:COVID19Member 2020-10-01 2020-12-31 0001498828 hhc:EmbassySuitesAtHughesLandingMember hhc:COVID19Member 2021-04-01 2021-06-30 0001498828 hhc:WestinAtWoodlandsWoodlandsMember hhc:COVID19Member 2020-10-01 2020-12-31 0001498828 hhc:WestinAtWoodlandsWoodlandsMember hhc:COVID19Member 2021-04-01 2021-06-30 0001498828 hhc:TheWoodlandsResortAndConferenceCenterMember hhc:COVID19Member 2020-10-01 2020-12-31 0001498828 hhc:TheWoodlandsResortAndConferenceCenterMember hhc:COVID19Member 2021-04-01 2021-06-30 0001498828 us-gaap:UnconsolidatedPropertiesMember 2021-06-30 0001498828 hhc:Wacker110NMember 2021-06-30 0001498828 hhc:Wacker110NMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-06-30 0001498828 hhc:Wacker110NMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-12-31 0001498828 hhc:Wacker110NMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:Wacker110NMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:Wacker110NMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:Wacker110NMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-06-30 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-12-31 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:StewartTitleOfMontgomeryCountyTxMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-06-30 0001498828 hhc:StewartTitleOfMontgomeryCountyTxMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-12-31 0001498828 hhc:StewartTitleOfMontgomeryCountyTxMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:StewartTitleOfMontgomeryCountyTxMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:StewartTitleOfMontgomeryCountyTxMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:StewartTitleOfMontgomeryCountyTxMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:WoodlandsSarofim1Member us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-06-30 0001498828 hhc:WoodlandsSarofim1Member us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-12-31 0001498828 hhc:WoodlandsSarofim1Member us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:WoodlandsSarofim1Member us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:WoodlandsSarofim1Member us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:WoodlandsSarofim1Member us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:M.flatsTEN.MMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-06-30 0001498828 hhc:M.flatsTEN.MMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-12-31 0001498828 hhc:M.flatsTEN.MMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:M.flatsTEN.MMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:M.flatsTEN.MMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:M.flatsTEN.MMember us-gaap:EquityMethodInvestmentsMember hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:TheSummitMember us-gaap:EquityMethodInvestmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2021-06-30 0001498828 hhc:TheSummitMember us-gaap:EquityMethodInvestmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2020-12-31 0001498828 hhc:TheSummitMember us-gaap:EquityMethodInvestmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:TheSummitMember us-gaap:EquityMethodInvestmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:TheSummitMember us-gaap:EquityMethodInvestmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:TheSummitMember us-gaap:EquityMethodInvestmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:Mr.CSeaportMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2021-06-30 0001498828 hhc:Mr.CSeaportMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2020-12-31 0001498828 hhc:Mr.CSeaportMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:Mr.CSeaportMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:Mr.CSeaportMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:Mr.CSeaportMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:SsmBarFormerlyBarWayMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2021-06-30 0001498828 hhc:SsmBarFormerlyBarWayMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2020-12-31 0001498828 hhc:SsmBarFormerlyBarWayMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:SsmBarFormerlyBarWayMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:SsmBarFormerlyBarWayMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:SsmBarFormerlyBarWayMember us-gaap:EquityMethodInvestmentsMember hhc:SeaportDistrictSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:CircleTRanchandPowerCenterMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 hhc:CircleTRanchandPowerCenterMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-12-31 0001498828 hhc:CircleTRanchandPowerCenterMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:CircleTRanchandPowerCenterMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:CircleTRanchandPowerCenterMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:CircleTRanchandPowerCenterMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:HHMKDevelopmentLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 hhc:HHMKDevelopmentLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-12-31 0001498828 hhc:HHMKDevelopmentLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:HHMKDevelopmentLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:HHMKDevelopmentLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:HHMKDevelopmentLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:KRHoldingsLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 hhc:KRHoldingsLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-12-31 0001498828 hhc:KRHoldingsLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:KRHoldingsLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:KRHoldingsLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:KRHoldingsLLCMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:EquityMethodInvestmentsMember 2021-06-30 0001498828 us-gaap:EquityMethodInvestmentsMember 2020-12-31 0001498828 us-gaap:EquityMethodInvestmentsMember 2021-04-01 2021-06-30 0001498828 us-gaap:EquityMethodInvestmentsMember 2020-04-01 2020-06-30 0001498828 us-gaap:EquityMethodInvestmentsMember 2021-01-01 2021-06-30 0001498828 us-gaap:EquityMethodInvestmentsMember 2020-01-01 2020-06-30 0001498828 us-gaap:EquitySecuritiesMember 2021-06-30 0001498828 us-gaap:EquitySecuritiesMember 2020-12-31 0001498828 us-gaap:EquitySecuritiesMember 2021-04-01 2021-06-30 0001498828 us-gaap:EquitySecuritiesMember 2020-04-01 2020-06-30 0001498828 us-gaap:EquitySecuritiesMember 2021-01-01 2021-06-30 0001498828 us-gaap:EquitySecuritiesMember 2020-01-01 2020-06-30 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:AccountsPayableAndAccruedLiabilitiesMember 2021-06-30 0001498828 hhc:MetropolitanDowntownColumbiaMember us-gaap:AccountsPayableAndAccruedLiabilitiesMember 2020-12-31 0001498828 hhc:Mr.CSeaportMember hhc:SeaportDistrictSegmentMember 2020-09-30 0001498828 hhc:CircleTRanchandPowerCenterMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-10-01 2020-12-31 0001498828 hhc:USAAJointVentureMember 2018-04-01 2018-06-30 0001498828 hhc:LocalDeveloperMember hhc:USAAJointVentureMember 2018-04-01 2018-06-30 0001498828 hhc:USAAMember hhc:USAAJointVentureMember 2018-04-01 2018-06-30 0001498828 hhc:USAAMember hhc:USAAJointVentureMember 2018-06-30 0001498828 hhc:USAAJointVentureMember 2018-04-01 2018-12-31 0001498828 hhc:LocalDeveloperMember hhc:USAAJointVentureMember 2018-04-01 2018-12-31 0001498828 hhc:USAAMember hhc:USAAJointVentureMember 2019-05-23 0001498828 hhc:USAAMember hhc:USAAJointVentureMember 2019-05-23 2019-05-23 0001498828 hhc:Wacker110NMember 2020-09-30 0001498828 hhc:Wacker110NMember hhc:StrategicDevelopmentsSegmentMember 2020-07-01 2020-09-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember hhc:Wacker110NMember us-gaap:EquityMethodInvestmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-07-01 2020-09-30 0001498828 hhc:USAAJointVentureMember 2021-01-01 2021-06-30 0001498828 hhc:USAAMember hhc:USAAJointVentureMember 2021-01-01 2021-06-30 0001498828 hhc:SsmBarFormerlyBarWayMember 2016-01-01 2016-03-31 0001498828 hhc:SsmBarFormerlyBarWayMember hhc:MomofukuMember 2016-01-01 2016-03-31 0001498828 hhc:SsmBarFormerlyBarWayMember 2021-01-01 2021-06-30 0001498828 hhc:SsmBarFormerlyBarWayMember hhc:MomofukuMember 2021-01-01 2021-06-30 0001498828 hhc:DiscoveryLandJointVentureMember us-gaap:EquityMethodInvestmentsMember 2015-01-01 2015-03-31 0001498828 hhc:DiscoveryLandJointVentureMember us-gaap:EquityMethodInvestmentsMember 2021-01-01 2021-06-30 0001498828 hhc:DiscoveryLandJointVentureMember 2021-01-01 2021-06-30 0001498828 hhc:HowardHughesCorporationsMember 2021-06-30 0001498828 hhc:DiscoveryLandCompanyMember 2021-06-30 0001498828 hhc:DiscoveryLandJointVentureMember 2021-06-30 0001498828 hhc:Wacker110NMember 2021-06-30 0001498828 hhc:DiscoveryLandJointVentureMember 2020-12-31 0001498828 hhc:Wacker110NMember 2020-12-31 0001498828 hhc:DiscoveryLandJointVentureMember 2021-01-01 2021-06-30 0001498828 hhc:Wacker110NMember 2021-01-01 2021-06-30 0001498828 hhc:DiscoveryLandJointVentureMember 2020-01-01 2020-06-30 0001498828 hhc:Wacker110NMember 2020-01-01 2020-06-30 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:MonarchCityCollectionTexasMember 2021-05-07 2021-05-07 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:MonarchCityCollectionTexasMember 2021-05-07 0001498828 hhc:Mr.CSeaportMember us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember us-gaap:EquityMethodInvestmentsMember 2020-07-16 0001498828 hhc:Mr.CSeaportMember us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember us-gaap:EquityMethodInvestmentsMember 2020-07-16 2020-07-16 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:WestWindsorNewJerseyMember 2020-07-01 2020-07-31 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:A100FellowshipDriveMember 2020-03-01 2020-03-31 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:A100FellowshipDriveMember 2020-03-31 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:A100FellowshipDriveMember 2019-11-30 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:A100FellowshipDriveMember 2019-11-01 2019-11-30 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:A100FellowshipDriveMember 2020-01-01 2020-03-31 0001498828 us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember hhc:A100FellowshipDriveMember 2020-01-01 2020-06-30 0001498828 hhc:CenturyParkMember 2021-04-01 2021-06-30 0001498828 hhc:CenturyParkMember 2021-06-30 0001498828 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:MeasurementInputCapRateMember us-gaap:IncomeApproachValuationTechniqueMember 2021-06-30 0001498828 srt:MinimumMember 2021-04-01 2021-06-30 0001498828 srt:MaximumMember 2021-04-01 2021-06-30 0001498828 hhc:OutletCollectionAtRiverwalkMember 2020-01-01 2020-03-31 0001498828 hhc:OutletCollectionAtRiverwalkMember 2021-03-31 0001498828 hhc:OutletCollectionAtRiverwalkMember 2020-03-31 0001498828 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:MeasurementInputCapRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-03-31 0001498828 hhc:Mr.CSeaportMember 2020-04-01 2020-06-30 0001498828 hhc:Mr.CSeaportMember us-gaap:EquityMethodInvestmentsMember 2020-06-30 0001498828 hhc:Mr.CSeaportMember 2020-06-30 0001498828 hhc:CondominiumInventoryMember 2020-04-01 2020-06-30 0001498828 us-gaap:LeasesAcquiredInPlaceMember 2021-06-30 0001498828 us-gaap:LeasesAcquiredInPlaceMember 2020-12-31 0001498828 us-gaap:LeasesAcquiredInPlaceMember 2021-01-01 2021-06-30 0001498828 hhc:WardVillageTinBuildingAndTheSummerlinAndBridgelandMPCDevelopmentsMember 2021-01-01 2021-06-30 0001498828 hhc:WaieaMember 2021-01-01 2021-06-30 0001498828 hhc:VariousPropertiesMember 2021-01-01 2021-06-30 0001498828 hhc:UnsecuredSeniorNotesDue2025Member us-gaap:SeniorNotesMember 2021-02-28 0001498828 hhc:UnsecuredSeniorNotesDue2025Member us-gaap:SeniorNotesMember 2021-03-31 0001498828 hhc:SummerlinMember 2021-04-01 2021-06-30 0001498828 hhc:UnsecuredSeniorNotesDue2025Member us-gaap:SeniorNotesMember 2021-06-30 0001498828 hhc:UnsecuredSeniorNotesDue2025Member us-gaap:SeniorNotesMember 2020-12-31 0001498828 hhc:UnsecuredSeniorNotesDue2028Member us-gaap:SeniorNotesMember 2021-06-30 0001498828 hhc:UnsecuredSeniorNotesDue2028Member us-gaap:SeniorNotesMember 2020-12-31 0001498828 hhc:SeniorNotesDue2029Member us-gaap:SeniorNotesMember 2021-06-30 0001498828 hhc:SeniorNotesDue2029Member us-gaap:SeniorNotesMember 2020-12-31 0001498828 hhc:SeniorNotesDue2031Member us-gaap:SeniorNotesMember 2021-06-30 0001498828 hhc:SeniorNotesDue2031Member us-gaap:SeniorNotesMember 2020-12-31 0001498828 us-gaap:SecuredDebtMember 2021-06-30 0001498828 us-gaap:SecuredDebtMember 2020-12-31 0001498828 us-gaap:BondsMember 2021-06-30 0001498828 us-gaap:BondsMember 2020-12-31 0001498828 us-gaap:InterestRateCapMember us-gaap:SecuredDebtMember 2021-06-30 0001498828 us-gaap:InterestRateCapMember us-gaap:SecuredDebtMember 2020-12-31 0001498828 hhc:A700MillionLoanMaturitySeptember2023Member 2018-12-31 0001498828 hhc:A700MillionLoanMaturitySeptember2023Member hhc:TermLoanMember 2018-12-31 0001498828 us-gaap:RevolvingCreditFacilityMember hhc:A700MillionLoanMaturitySeptember2023Member us-gaap:LineOfCreditMember 2018-12-31 0001498828 hhc:A700MillionLoanMaturitySeptember2023Member 2018-01-01 2018-12-31 0001498828 us-gaap:RevolvingCreditFacilityMember hhc:A700MillionLoanMaturitySeptember2023Member us-gaap:LineOfCreditMember 2021-06-30 0001498828 hhc:TheWoodlandsAndBridgelandCreditFacilityMember us-gaap:LineOfCreditMember 2019-12-31 0001498828 hhc:TheWoodlandsAndBridgelandCreditFacilityMember hhc:TermLoanMember 2019-12-31 0001498828 us-gaap:RevolvingCreditFacilityMember hhc:TheWoodlandsAndBridgelandCreditFacilityMember us-gaap:LineOfCreditMember 2019-12-31 0001498828 us-gaap:RevolvingCreditFacilityMember hhc:TheWoodlandsAndBridgelandCreditFacilityMember us-gaap:LineOfCreditMember 2021-06-30 0001498828 hhc:SummerlinMember us-gaap:BondsMember 2021-01-01 2021-06-30 0001498828 hhc:A700MillionLoanMaturitySeptember2023Member hhc:TermLoanMember 2021-06-30 0001498828 hhc:A700MillionLoanMaturitySeptember2023Member hhc:TermLoanMember 2020-12-31 0001498828 hhc:SeniorNotesDue2029Member us-gaap:SeniorNotesMember 2021-01-01 2021-06-30 0001498828 hhc:SeniorNotesDue2031Member us-gaap:SeniorNotesMember 2021-01-01 2021-06-30 0001498828 hhc:VictoriaPlaceInWardVillageMember 2021-06-30 0001498828 hhc:VictoriaPlaceInWardVillageMember 2021-01-01 2021-06-30 0001498828 hhc:TanagerApartmentsDueInMay2031Member 2021-06-30 0001498828 hhc:TanagerApartmentsDueInMay2031Member 2021-01-01 2021-06-30 0001498828 hhc:OtherMortgagesNotesAndLoansPayableMember 2021-01-01 2021-06-30 0001498828 hhc:A1201LakeRobbinsMember 2021-06-30 0001498828 hhc:A1201LakeRobbinsMember 2021-01-01 2021-06-30 0001498828 hhc:TheWoodlandsWarehouseMember 2021-06-30 0001498828 hhc:TheWoodlandsWarehouseMember 2021-01-01 2021-06-30 0001498828 hhc:TanagerApartmentsDueInOctober2021October2024Member 2021-06-30 0001498828 hhc:TanagerApartmentsDueInOctober2021October2024Member 2021-01-01 2021-06-30 0001498828 hhc:UnsecuredSeniorNotesDue2025Member us-gaap:SeniorNotesMember 2021-01-01 2021-06-30 0001498828 us-gaap:BondsMember 2021-01-01 2021-06-30 0001498828 hhc:LondonInterbankOfferedRateLIBOROnemonthMember 2021-01-01 2021-06-30 0001498828 hhc:LondonInterbankOfferedRateLIBORThreemonthMember 2021-01-01 2021-06-30 0001498828 us-gaap:PrimeRateMember 2021-01-01 2021-06-30 0001498828 hhc:SeniorNotesDue2029Member us-gaap:SeniorNotesMember 2021-02-28 0001498828 hhc:SeniorNotesDue2031Member us-gaap:SeniorNotesMember 2021-02-28 0001498828 hhc:VictoriaPlaceInWardVillageMember us-gaap:ConstructionLoansMember 2021-03-31 0001498828 hhc:VictoriaPlaceInWardVillageMember us-gaap:ConstructionLoansMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-01-01 2021-03-31 0001498828 hhc:VictoriaPlaceInWardVillageMember us-gaap:ConstructionLoansMember 2021-01-01 2021-03-31 0001498828 us-gaap:InterestRateCapMember 2021-03-31 0001498828 hhc:TanagerApartmentsDueInMay2031Member us-gaap:ConstructionLoansMember 2021-04-30 0001498828 hhc:A1201LakeRobbinsAndTheWoodlandsWarehouseMember 2021-01-01 2021-06-30 0001498828 hhc:MarlowDevelopmentMember us-gaap:ConstructionLoansMember 2021-04-30 0001498828 hhc:MarlowDevelopmentMember us-gaap:ConstructionLoansMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-04-01 2021-04-30 0001498828 hhc:MarlowDevelopmentMember us-gaap:ConstructionLoansMember 2021-04-01 2021-04-30 0001498828 hhc:StarlingAtBridgelandMember us-gaap:ConstructionLoansMember 2021-04-30 0001498828 hhc:StarlingAtBridgelandMember us-gaap:ConstructionLoansMember us-gaap:LondonInterbankOfferedRateLIBORMember 2021-04-01 2021-04-30 0001498828 srt:MinimumMember hhc:StarlingAtBridgelandMember us-gaap:ConstructionLoansMember 2021-04-30 0001498828 hhc:StarlingAtBridgelandMember us-gaap:ConstructionLoansMember 2021-04-01 2021-04-30 0001498828 hhc:A8770NewTrailsMember us-gaap:ConstructionLoansMember 2021-06-30 0001498828 hhc:LakesideRowPropertyMember us-gaap:ConstructionLoansMember us-gaap:SubsequentEventMember 2021-07-31 0001498828 hhc:LakesideRowPropertyMember us-gaap:ConstructionLoansMember us-gaap:SubsequentEventMember 2021-07-01 2021-07-31 0001498828 us-gaap:InterestRateSwapMember 2021-06-30 0001498828 us-gaap:InterestRateSwapMember us-gaap:FairValueInputsLevel1Member 2021-06-30 0001498828 us-gaap:InterestRateSwapMember us-gaap:FairValueInputsLevel2Member 2021-06-30 0001498828 us-gaap:InterestRateSwapMember us-gaap:FairValueInputsLevel3Member 2021-06-30 0001498828 us-gaap:InterestRateSwapMember 2020-12-31 0001498828 us-gaap:InterestRateSwapMember us-gaap:FairValueInputsLevel1Member 2020-12-31 0001498828 us-gaap:InterestRateSwapMember us-gaap:FairValueInputsLevel2Member 2020-12-31 0001498828 us-gaap:InterestRateSwapMember us-gaap:FairValueInputsLevel3Member 2020-12-31 0001498828 us-gaap:FairValueInputsLevel1Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-06-30 0001498828 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-06-30 0001498828 us-gaap:FairValueInputsLevel1Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0001498828 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-12-31 0001498828 us-gaap:FairValueInputsLevel3Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-06-30 0001498828 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-06-30 0001498828 us-gaap:FairValueInputsLevel3Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0001498828 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-12-31 0001498828 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2021-06-30 0001498828 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-06-30 0001498828 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-12-31 0001498828 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-12-31 0001498828 us-gaap:NotesReceivableMember 2021-06-30 0001498828 us-gaap:NotesReceivableMember 2020-12-31 0001498828 hhc:CenturyParkMember us-gaap:FairValueMeasurementsNonrecurringMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 hhc:CenturyParkMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 hhc:CenturyParkMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 hhc:CenturyParkMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 hhc:OutletCollectionAtRiverwalkMember us-gaap:FairValueMeasurementsNonrecurringMember hhc:OperatingAssetsSegmentMember 2020-06-30 0001498828 hhc:OutletCollectionAtRiverwalkMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember hhc:OperatingAssetsSegmentMember 2020-06-30 0001498828 hhc:OutletCollectionAtRiverwalkMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember hhc:OperatingAssetsSegmentMember 2020-06-30 0001498828 hhc:OutletCollectionAtRiverwalkMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember hhc:OperatingAssetsSegmentMember 2020-06-30 0001498828 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:MeasurementInputCapRateMember us-gaap:ValuationTechniqueDiscountedCashFlowMember 2020-12-31 0001498828 2020-01-01 2020-12-31 0001498828 us-gaap:InterestRateSwapMember 2021-04-01 2021-06-30 0001498828 us-gaap:InterestRateSwapMember 2021-01-01 2021-06-30 0001498828 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2021-06-30 0001498828 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:InterestRateCapMember us-gaap:NondesignatedMember hhc:FixedInterestRate200PercentMaturingSeptember2023Notional285MillionMember 2021-06-30 0001498828 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:InterestRateCapMember us-gaap:NondesignatedMember hhc:FixedInterestRate200PercentMaturingSeptember2023Notional285MillionMember 2020-12-31 0001498828 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:InterestRateCapMember us-gaap:NondesignatedMember hhc:FixedInterestRate200PercentMaturingSeptember2023NotionalMember 2021-06-30 0001498828 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:InterestRateCapMember us-gaap:NondesignatedMember hhc:FixedInterestRate200PercentMaturingSeptember2023NotionalMember 2020-12-31 0001498828 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:InterestRateCapMember us-gaap:NondesignatedMember hhc:FixedInterestRate500PercentMaturingOctober2022Member 2021-06-30 0001498828 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:InterestRateCapMember us-gaap:NondesignatedMember hhc:FixedInterestRate500PercentMaturingOctober2022Member 2020-12-31 0001498828 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hhc:FixedInterestRate296PercentMaturingSeptember2023Member 2021-06-30 0001498828 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hhc:FixedInterestRate296PercentMaturingSeptember2023Member 2020-12-31 0001498828 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hhc:FixedInterestRate489PercentMaturingJanuary2032Member 2021-06-30 0001498828 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hhc:FixedInterestRate489PercentMaturingJanuary2032Member 2020-12-31 0001498828 us-gaap:InterestRateCapMember us-gaap:NondesignatedMember 2021-01-01 2021-06-30 0001498828 us-gaap:InterestRateCapMember us-gaap:NondesignatedMember 2021-04-01 2021-06-30 0001498828 hhc:A700MillionLoanMaturitySeptember2023Member hhc:TermLoanMember 2018-09-30 0001498828 hhc:A8770NewTrailsMember us-gaap:ConstructionLoansMember 2019-06-30 0001498828 us-gaap:InterestRateSwapMember 2020-04-01 2020-06-30 0001498828 us-gaap:InterestRateSwapMember 2020-01-01 2020-06-30 0001498828 us-gaap:InterestExpenseMember 2021-04-01 2021-06-30 0001498828 us-gaap:InterestExpenseMember 2020-04-01 2020-06-30 0001498828 us-gaap:InterestExpenseMember 2021-01-01 2021-06-30 0001498828 us-gaap:InterestExpenseMember 2020-01-01 2020-06-30 0001498828 us-gaap:CreditRiskContractMember 2021-06-30 0001498828 us-gaap:CreditRiskContractMember 2020-12-31 0001498828 2018-06-14 0001498828 hhc:WaieaMember 2020-01-01 2020-12-31 0001498828 hhc:WaieaMember 2021-06-30 0001498828 srt:ChiefFinancialOfficerMember hhc:ManagementWarrantsMember 2016-10-07 0001498828 srt:ChiefFinancialOfficerMember hhc:ManagementWarrantsMember 2016-10-07 2016-10-07 0001498828 srt:ChiefExecutiveOfficerMember hhc:ManagementWarrantsMember 2017-06-16 0001498828 srt:PresidentMember hhc:ManagementWarrantsMember 2017-10-04 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2021-04-01 2021-06-30 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2020-04-01 2020-06-30 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2021-01-01 2021-06-30 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2020-01-01 2020-06-30 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2021-04-01 2021-06-30 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-06-30 0001498828 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-06-30 0001498828 us-gaap:EmployeeStockOptionMember 2021-04-01 2021-06-30 0001498828 us-gaap:RestrictedStockMember 2021-04-01 2021-06-30 0001498828 us-gaap:EmployeeStockOptionMember 2021-01-01 2021-06-30 0001498828 us-gaap:RestrictedStockMember 2021-01-01 2021-06-30 0001498828 us-gaap:EmployeeStockOptionMember 2020-01-01 2020-06-30 0001498828 us-gaap:EmployeeStockOptionMember 2020-04-01 2020-06-30 0001498828 us-gaap:RestrictedStockMember 2020-04-01 2020-06-30 0001498828 us-gaap:RestrictedStockMember 2020-01-01 2020-06-30 0001498828 2020-03-27 2020-03-27 0001498828 2020-03-27 0001498828 us-gaap:OverAllotmentOptionMember 2020-03-27 2020-03-27 0001498828 hhc:AdditionalOverAllotmentOptionMember 2020-03-27 2020-03-27 0001498828 us-gaap:PrivatePlacementMember 2020-03-27 2020-03-27 0001498828 us-gaap:PrivatePlacementMember 2020-03-27 0001498828 2020-03-27 2020-03-31 0001498828 2020-03-31 2020-03-31 0001498828 hhc:CondominiumRightsAndUnitSalesMember us-gaap:TransferredAtPointInTimeMember 2021-04-01 2021-06-30 0001498828 hhc:CondominiumRightsAndUnitSalesMember us-gaap:TransferredAtPointInTimeMember 2020-04-01 2020-06-30 0001498828 hhc:CondominiumRightsAndUnitSalesMember us-gaap:TransferredAtPointInTimeMember 2021-01-01 2021-06-30 0001498828 hhc:CondominiumRightsAndUnitSalesMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember us-gaap:TransferredAtPointInTimeMember 2021-04-01 2021-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember us-gaap:TransferredAtPointInTimeMember 2020-04-01 2020-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember us-gaap:TransferredAtPointInTimeMember 2021-01-01 2021-06-30 0001498828 hhc:MasterPlannedCommunityLandSalesMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001498828 hhc:BuilderPriceParticipationMember us-gaap:TransferredAtPointInTimeMember 2021-04-01 2021-06-30 0001498828 hhc:BuilderPriceParticipationMember us-gaap:TransferredAtPointInTimeMember 2020-04-01 2020-06-30 0001498828 hhc:BuilderPriceParticipationMember us-gaap:TransferredAtPointInTimeMember 2021-01-01 2021-06-30 0001498828 hhc:BuilderPriceParticipationMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001498828 us-gaap:TransferredAtPointInTimeMember 2021-04-01 2021-06-30 0001498828 us-gaap:TransferredAtPointInTimeMember 2020-04-01 2020-06-30 0001498828 us-gaap:TransferredAtPointInTimeMember 2021-01-01 2021-06-30 0001498828 us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember hhc:TransferAtPointInTimeAndOverTimeMember 2021-04-01 2021-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember hhc:TransferAtPointInTimeAndOverTimeMember 2020-04-01 2020-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember hhc:TransferAtPointInTimeAndOverTimeMember 2021-01-01 2021-06-30 0001498828 hhc:OtherLandRentalAndPropertyRevenuesMember hhc:TransferAtPointInTimeAndOverTimeMember 2020-01-01 2020-06-30 0001498828 hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:MasterPlannedCommunitiesSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:MasterPlannedCommunitiesSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:MasterPlannedCommunitiesSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:MasterPlannedCommunitiesSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:SeaportDistrictSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:SeaportDistrictSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:SeaportDistrictSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:SeaportDistrictSegmentMember 2020-01-01 2020-06-30 0001498828 hhc:StrategicDevelopmentsSegmentMember 2021-04-01 2021-06-30 0001498828 hhc:StrategicDevelopmentsSegmentMember 2020-04-01 2020-06-30 0001498828 hhc:StrategicDevelopmentsSegmentMember 2021-01-01 2021-06-30 0001498828 hhc:StrategicDevelopmentsSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:CorporateMember 2021-04-01 2021-06-30 0001498828 us-gaap:CorporateMember 2020-04-01 2020-06-30 0001498828 us-gaap:CorporateMember 2021-01-01 2021-06-30 0001498828 us-gaap:CorporateMember 2020-01-01 2020-06-30 0001498828

2021-07-01

2021-06-30 0001498828

2022-07-01

2021-06-30 0001498828

2024-07-01

2021-06-30 0001498828 srt:MinimumMember 2021-06-30 0001498828 srt:MaximumMember 2021-06-30 0001498828 hhc:SeaportDistrictSegmentMember 2021-06-30 0001498828 hhc:TinBuildingMember hhc:SeaportDistrictSegmentMember 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2021-04-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:SeaportDistrictSegmentMember 2021-04-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-04-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember 2021-04-01 2021-06-30 0001498828 us-gaap:CorporateNonSegmentMember 2021-04-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2020-04-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:SeaportDistrictSegmentMember 2020-04-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-04-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember 2020-04-01 2020-06-30 0001498828 us-gaap:CorporateNonSegmentMember 2020-04-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:HospitalityRevenueMember hhc:OperatingAssetsSegmentMember 2021-04-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:HospitalityRevenueMember hhc:OperatingAssetsSegmentMember 2020-04-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2021-01-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:SeaportDistrictSegmentMember 2021-01-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-01-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember 2021-01-01 2021-06-30 0001498828 us-gaap:CorporateNonSegmentMember 2021-01-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:SeaportDistrictSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember 2020-01-01 2020-06-30 0001498828 us-gaap:CorporateNonSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:HospitalityRevenueMember hhc:OperatingAssetsSegmentMember 2021-01-01 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:HospitalityRevenueMember hhc:OperatingAssetsSegmentMember 2020-01-01 2020-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:OperatingAssetsSegmentMember 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:OperatingAssetsSegmentMember 2020-12-31 0001498828 us-gaap:OperatingSegmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:MasterPlannedCommunitiesSegmentMember 2020-12-31 0001498828 us-gaap:OperatingSegmentsMember hhc:SeaportDistrictSegmentMember 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:SeaportDistrictSegmentMember 2020-12-31 0001498828 us-gaap:OperatingSegmentsMember hhc:StrategicDevelopmentsSegmentMember 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember hhc:StrategicDevelopmentsSegmentMember 2020-12-31 0001498828 us-gaap:OperatingSegmentsMember 2021-06-30 0001498828 us-gaap:OperatingSegmentsMember 2020-12-31 0001498828 us-gaap:CorporateNonSegmentMember 2021-06-30 0001498828 us-gaap:CorporateNonSegmentMember 2020-12-31 shares iso4217:USD iso4217:USD shares hhc:hotel pure hhc:usdPerAcre hhc:condominium_unit utr:acre hhc:hotel_room utr:sqft hhc:parking_space hhc:building hhc:bond hhc:extension_option hhc:derivative_settled hhc:derivative_instrument hhc:individualOrEntitie hhc:condominium_tower hhc:segment hhc:location 0001498828 Q2 false --12-31 2021

http://fasb.org/us-gaap/2021-01-31#AccountingStandardsUpdate201613Member

P6M

P2Y

10-Q true 2021-06-30 false 001-34856 THE HOWARD HUGHES CORPORATION DE 36-4673192 9950 Woodloch Forest Drive Suite 1100 The Woodlands TX 77380 (281) 719-6100 Yes Yes Large Accelerated Filer false false false Common stock, par value $0.01 per share HHC NYSE 55126260

1743502000

1687519000

4170506000

4115493000

721275000

634064000

365725000

363447000

1352999000

1152674000

6911457000

6685069000

298161000

377145000

7209618000

7062214000

2917000

2926000

1063261000

1014686000

219483000

228311000

81503000

66726000

354932000 314394000

3235000

622000

111491000

112097000

54566000

56255000

208063000

282101000

9309069000

9140332000

4449333000

4287369000

68102000

68929000

167105000

187639000

925845000

852258000

5610385000

5396195000

26781000

29114000

0.01

50000000

0.01

150000000

56196818

55126260

56042814

54972256

563000

562000

3955162000

3947278000

-134309000

-72556000

-27754000

-38590000

1070558

122091000

3671571000

3714603000

332000

420000

3671903000

3715023000

9309069000

9140332000

12861000

50028000

43000

58342000

57073000

95819000

96805000

88476000

78706000

174375000

171450000

41389000

11447000

64632000

46344000

11389000

8947000

18183000

16706000

212457000

156173000

403037000

331348000

13435000

6348000

68403000

104249000

24858000

25875000

40509000

42661000

71243000

45885000

129841000

110491000

13716000

15199000

27707000

28777000

-1520000

1866000

-2098000

3567000

149000 0 149000 0

2397000

1813000

4041000

4629000

20334000

22233000

42100000

61314000

49788000

46963000

99096000

108600000

194400000

166182000

409748000

464288000

13068000

48738000

21333000

8000000

21333000

46124000

-663000 1607000 -10971000 -2077000

7602000

9607000

-2706000

-4691000

25659000

-402000

-9417000

-137631000

31000

404000

72000

1550000

31439000

32397000

65649000

66845000

-51000

-35966000

7867000

-8552000

23663000

2797000

2067000

-40947000

-87297000

-200129000

-1550000

-6844000

-22755000

-40944000

3617000

-34103000

-64542000

-159185000

-1224000

-19000

-2789000

33000

4841000

-34084000

-61753000

-159218000

0.09

-0.61

-1.11

-3.22

0.09

-0.61

-1.11

-3.22

3617000

-34103000

-64542000

-159185000

1905000

-838000

8261000

-31739000

1358000

2575000

3263000

-838000

10836000

-31739000

6880000

-34941000

-53706000

-190924000

-1224000

-19000

-2789000

33000

8104000

-34922000

-50917000

-190957000

500000

-300000

2300000

-7400000

400000

700000

56178233

563000

3952537000

-139150000

-31017000

1070558

-122091000

3660842000

425000

3661267000

-1131000

4841000

-93000

4748000

524000

1905000

386000

1358000

18585

2625000

56196818

563000

3955162000

-134309000

-27754000

1070558

-122091000

3671571000

332000

3671903000

55989263

561000

3939470000

-171537000

-60273000

-1050260

-120530000

3587691000

184907000

3772598000

-34084000

-19000

-34103000

-262000

-838000

-85000

-7703

2131000

55981560

561000

3941516000

-205621000

-61111000

-1050260

-120530000

3554815000

184888000

3739703000

56042814

562000

3947278000

-72556000

-38590000

1070558

-122091000

3714603000

420000

3715023000

-2701000

-61753000

-88000

-61841000

2314000

8261000

732000

2575000

-5000

154004

1000

7889000

7890000

56196818

563000

3955162000

-134309000

-27754000

1070558

-122091000

3671571000

332000

3671903000

43635893

437000

3343983000

-46385000

-29372000

-1050260

-120530000

3148133000

184855000

3332988000

-159218000

33000

-159185000

-7356000

-31739000

-18000

12270900

123000

593490000

593613000

74767

1000

4043000

4044000

55981560

561000

3941516000

-205621000

-61111000

-1050260

-120530000

3554815000

184888000

3739703000

-64542000

-159185000

89516000

99682000

8356000 8517000

5086000

8312000

1205000 340000

6770000

6183000

-23581000

-41701000

4781000

3346000

21338000

8000000

38124000

0 64155000 -35966000 0

13799000

59817000

-925000

2057000

-628000

5443000

126302000 116372000 39499000 41883000 150509000 114660000 65951000 99171000

12063000

14895000

-22176000

38214000

33627000 94644000

5316000

19530000

10227000

-25032000

-79935000

-98643000

931000 598000

20664000

17297000

121839000

250370000

49907000

403000 2671000

83014000

1232000

767000

3127000

-10877000

-267489000

1503083000

392714000

1328054000

51008000

593614000

29669000

4384000 2352000

20904000

4088000

2183000

668000

3902000

1365000

130559000

934281000

39747000

568149000

1242997000

620135000

1282744000

1188284000

88041000

97015000

34801000

35949000

1789000

-2408000

0 493000 0 493000 4760000 -35250000 1010000 779000 0 9586000 974000 907000

<div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>1. Summary of Significant Accounting Policies</div></td></tr></table></div><div style="text-align:justify;text-indent:63pt"> </div><div style="text-align:justify">General The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), with intercompany transactions between consolidated subsidiaries eliminated. In accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as issued by the Securities and Exchange Commission (the SEC), these Condensed Consolidated Financial Statements do not include all of the information and disclosures required by GAAP for complete financial statements. Readers of this quarterly report on Form 10-Q (Quarterly Report) should refer to The Howard Hughes Corporation (HHC or the Company) audited Consolidated Financial Statements, which are included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February 25, 2021 (the Annual Report). In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the financial position, results of operations, comprehensive income, cash flows and equity for the interim periods have been included. The results for the three and six months ended June 30, 2021, are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, and future fiscal years. </div><div style="text-align:justify"> </div><div style="text-align:justify">Certain amounts in the 2020 results of operations have been reclassified to conform to the current presentation. Specifically, the Company reclassified minimum rents, tenant recoveries, and interest income from sales-type leases to Rental revenue. Certain amounts in the 2020 Condensed Consolidated Balance Sheet have been reclassified to conform to the current presentation. Specifically, the Company reclassified straight-line rent from Prepaid expenses and other assets, net to Accounts Receivable, net.</div><div style="text-align:justify"> </div><div style="text-align:justify">Management has evaluated for disclosure or recognition all material events occurring subsequent to the date of the Condensed Consolidated Financial Statements up to the date and time this Quarterly Report was filed.</div><div style="text-align:justify"> </div><div style="text-align:justify">COVID-19 Pandemic The 2020 outbreak of the novel strain of the coronavirus (COVID-19) resulted in a global slowdown of economic activity including worldwide travel restrictions, prohibitions of non-essential work activities, and the disruption and shutdown of businesses, all of which resulted in significant uncertainty in global financial markets and a material adverse impact on the Company’s financial performance in fiscal 2020, particularly in the Operating Asset and Seaport segments. Many states began easing quarantine protocols near the end of the second quarter of 2020, which allowed most of the Company’s retail and hospitality properties to resume operations on a limited basis. While COVID-19 has adversely impacted all business segments during 2020 and the first half of 2021, the Company’s performance has notably improved during the second half of 2020 and through the first half of 2021. </div><div style="text-align:justify"> </div><div style="text-align:justify">The extent to which COVID-19 continues to impact the Company will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the actions taken to contain the pandemic or mitigate its impact, such as the speed and effectiveness of vaccine and treatment developments and their deployment, potential mutations of COVID-19, and the direct and indirect economic effects of the pandemic and containment measures.</div><div style="text-align:justify"> </div><div style="text-align:justify">Restricted Cash Restricted cash reflects amounts segregated in escrow accounts in the name of the Company, primarily related to escrowed condominium deposits by buyers and other amounts related to taxes, insurance and legally restricted security deposits and leasing costs.</div><div style="text-align:justify"> </div><div style="text-align:justify">Accounts Receivable, net On a quarterly basis, management reviews tenant rents, tenant recoveries and straight-line rent assets for collectability. As required under Accounting Standards Codification (ASC) 842 - Leases, this analysis includes a review of past due accounts and considers factors such as the credit quality of tenants, current economic conditions and changes in customer payment trends. When full collection of a lease receivable or future lease payment is not probable, a reserve for the receivable balance is charged against rental revenue and future rental revenue is recognized on a cash basis. Due to the continued impacts of COVID-19 on the collectability of tenant receivables, the Company determined full collection of outstanding tenant rents and recoveries was not probable for a number of retail tenants. In addition, the Company determined that a reserve for estimated losses under ASC 450 - Contingencies is required as the amount is probable and can be reasonably estimated.</div><div style="text-align:justify">The following table represents the components of Accounts Receivable, net of amounts considered uncollectible, in the accompanying Condensed Consolidated Balance Sheets:</div><div style="text-align:justify"> </div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.888%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.613%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.615%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Tenant receivables</td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">8,531 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,339 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Straight-line rent receivables</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68,231 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">59,288 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other receivables</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,741 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,099 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Accounts receivable, net (a)</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">81,503 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">66,726 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)As of June 30, 2021, the total reserve balance for amounts considered uncollectible was $30.6 million, comprised of $27.2 million related to ASC 842 and $3.4 million related to ASC 450. As of December 31, 2020, the total reserve balance was $33.0 million, comprised of $27.3 million related to ASC 842 and $5.7 million related to ASC 450.</div><div style="text-align:justify"> </div><div style="text-align:justify">The following table summarizes the impacts of the ASC 842 and ASC 450 reserves in the accompanying Condensed Consolidated Statements of Operations: </div><div style="text-align:justify"> </div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:33.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.040%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">Income Statement Location</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">ASC 842 reserve</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Rental revenue</td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">330 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">5,716 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">1,361 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">7,219 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">ASC 450 reserve</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for (recovery of) doubtful accounts</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,640)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,818 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,239)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,396 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total impact</td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(1,310)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">8,534 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(878)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">11,615 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"> </div><div style="text-align:justify">Temporary Business Closures During the first half of 2020, the Company experienced closures of its Seaport retail and food and beverage assets as well as its three hotels in The Woodlands.</div><div style="text-align:justify"> </div><div style="text-align:justify">The Company reopened The Woodlands Resort in May 2020, the Embassy Suites at Hughes Landing in June 2020 and The Westin at The Woodlands in July 2020. As a result, occupancy levels rose throughout the second half of 2020 but remained lower than levels achieved prior to the pandemic. With the gradual return of leisure travel in the first half of 2021, occupancy levels have continued to rise at all properties. From the fourth quarter of 2020 to the second quarter of 2021, occupancy levels increased from 55% to 68% at the Embassy Suites, 28% to 49% at The Westin at The Woodlands and 27% to 31% at The Woodlands Resort. </div><div style="text-align:justify"> </div><div style="text-align:justify">Many of the Seaport retail and food and beverage assets resumed operations in the third quarter of 2020, on a limited basis. Most remaining restrictions were lifted in June of 2021; however, many businesses at the Seaport continue to operate at reduced levels primarily due to labor shortages. The 2020 Seaport summer concert series was cancelled and in its place a new concept at the Pier 17 rooftop was launched called The Greens, which continued through the end of first quarter of 2021. The Greens concept returned in May 2021 to complement the summer concert series, which began on July 30, 2021 and is expected to run through October 2021. The Greens concept and 2021 concert series continue to generate high customer demand for the outdoor venue.</div><div style="text-align:justify"> </div><div style="text-align:justify">Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The estimates and assumptions include, but are not limited to, capitalization of development costs, provision for income taxes, recoverable amounts of receivables and deferred tax assets, initial valuations of tangible and intangible assets acquired and the related useful lives of assets upon which depreciation and amortization is based. Estimates and assumptions have also been made with respect to future revenues and costs, debt and options granted. In particular, Master Planned Communities (MPC) cost of sales estimates are highly judgmental as they are sensitive to cost escalation, sales price escalation and lot absorption, which are subject to judgment and affected by expectations about future market or economic conditions. Actual results could differ from these and other estimates. In addition, these estimates may change in the near term due to the continued demands and constraints on the Company’s supply chain resulting from the COVID-19 pandemic. </div><div style="text-align:justify"> </div><div style="text-align:justify">Noncontrolling Interests As of June 30, 2021 and December 31, 2020, noncontrolling interests are related to the Ward Village Homeowners’ Associations (HOAs). All revenues and expenses related to the HOAs are attributable to noncontrolling interests and do not impact net income attributable to common stockholders.</div><div style="text-align:justify">Financial Instruments - Credit Losses The Company is exposed to credit losses through the sale of goods and services to the Company’s customers. Receivables held by the Company primarily relate to short-term trade receivables and financing receivables, which include Municipal Utility District (MUD) receivables, Special Improvement District (SID) bonds, TIF receivables, net investments in lease receivables, and notes receivable. The Company assesses its exposure to credit loss based on historical collection experience and future expectations by portfolio segment. Historical collection experience is evaluated on a quarterly basis by the Company.</div><div> </div><div style="text-align:justify">The amortized cost basis of financing receivables, consisting primarily of MUD receivables, totaled $411.9 million as of June 30, 2021, including accrued interest of $18.6 million. There has been no material activity in the allowance for credit losses for financing receivables for the six months ended June 30, 2021.</div><div style="text-align:justify"> </div><div style="text-align:justify">Financing receivables are considered to be past due once they are 30 days contractually past due under the terms of the agreement. The Company does not have significant receivables that are past due or on nonaccrual status. There have been no significant write-offs or recoveries of amounts previously written off during the current period for financing receivables.</div><div style="text-align:justify"> </div><div style="text-align:justify">Executive Transition In December 2020, the Company announced the appointment of David R. O’Reilly as the Company’s Chief Executive Officer and the appointment of L. Jay Cross as the Company’s President. On April 8, 2021, the Company announced that Correne Loeffler had been appointed to serve as the Company's Chief Financial Officer (CFO), effective April 19, 2021. Ms. Loeffler succeeded David O'Reilly as the Company's CFO, a position that he had held since joining HHC in 2016 and had continued to hold on an interim basis since being appointed Chief Executive Officer in December 2020. Ms. Loeffler joined HHC following her role as Chief Financial Officer of Whiting Petroleum, where she managed the company’s Finance, Accounting, and Corporate Planning organizations. She also previously served as Vice President of Finance and Treasurer for the Callon Petroleum Company. In addition, she served as Callon's Interim Chief Financial Officer. Prior to that she spent over a decade at JPMorgan Securities before leaving as an Executive Director in the Corporate Client Banking group. </div><div style="text-align:justify"> </div><div style="margin-bottom:10pt;text-align:justify">Recently Issued Accounting Standards The following is a summary of recently issued and other notable accounting pronouncements that relate to the Company’s business.</div><div style="text-align:justify">ASU 2020-04, Reference Rate Reform The amendments in this Update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform when certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, for which an entity has applied certain optional expedients that are retained through the end of the hedging relationship. The amendments in this Update are effective as of March 12, 2020, through December 31, 2022. The guidance in Accounting Standards Update (ASU) 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedge transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued.</div>

Restricted Cash Restricted cash reflects amounts segregated in escrow accounts in the name of the Company, primarily related to escrowed condominium deposits by buyers and other amounts related to taxes, insurance and legally restricted security deposits and leasing costs.

Accounts Receivable, net On a quarterly basis, management reviews tenant rents, tenant recoveries and straight-line rent assets for collectability. As required under Accounting Standards Codification (ASC) 842 - Leases, this analysis includes a review of past due accounts and considers factors such as the credit quality of tenants, current economic conditions and changes in customer payment trends. When full collection of a lease receivable or future lease payment is not probable, a reserve for the receivable balance is charged against rental revenue and future rental revenue is recognized on a cash basis. Due to the continued impacts of COVID-19 on the collectability of tenant receivables, the Company determined full collection of outstanding tenant rents and recoveries was not probable for a number of retail tenants. In addition, the Company determined that a reserve for estimated losses under ASC 450 - Contingencies is required as the amount is probable and can be reasonably estimated.

<div style="text-align:justify">The following table represents the components of Accounts Receivable, net of amounts considered uncollectible, in the accompanying Condensed Consolidated Balance Sheets:</div><div style="text-align:justify"> </div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.888%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.613%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.615%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Tenant receivables</td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">8,531 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,339 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Straight-line rent receivables</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68,231 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">59,288 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other receivables</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,741 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,099 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Accounts receivable, net (a)</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">81,503 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">66,726 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)As of June 30, 2021, the total reserve balance for amounts considered uncollectible was $30.6 million, comprised of $27.2 million related to ASC 842 and $3.4 million related to ASC 450. As of December 31, 2020, the total reserve balance was $33.0 million, comprised of $27.3 million related to ASC 842 and $5.7 million related to ASC 450.</div>

8531000

4339000

68231000

59288000

4741000

3099000

81503000

66726000

30600000

27200000

3400000

33000000.0

27300000

5700000

<div style="text-align:justify">The following table summarizes the impacts of the ASC 842 and ASC 450 reserves in the accompanying Condensed Consolidated Statements of Operations: </div><div style="text-align:justify"> </div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:33.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.040%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">Income Statement Location</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">ASC 842 reserve</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Rental revenue</td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">330 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">5,716 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">1,361 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">7,219 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">ASC 450 reserve</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for (recovery of) doubtful accounts</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,640)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,818 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,239)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,396 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total impact</td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(1,310)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">8,534 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(878)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">11,615 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div> 330000 5716000 1361000 7219000

-1640000

2818000

-2239000

4396000

-1310000 8534000 -878000 11615000 3 0.55 0.68 0.28 0.49 0.27 0.31

Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The estimates and assumptions include, but are not limited to, capitalization of development costs, provision for income taxes, recoverable amounts of receivables and deferred tax assets, initial valuations of tangible and intangible assets acquired and the related useful lives of assets upon which depreciation and amortization is based. Estimates and assumptions have also been made with respect to future revenues and costs, debt and options granted. In particular, Master Planned Communities (MPC) cost of sales estimates are highly judgmental as they are sensitive to cost escalation, sales price escalation and lot absorption, which are subject to judgment and affected by expectations about future market or economic conditions. Actual results could differ from these and other estimates. In addition, these estimates may change in the near term due to the continued demands and constraints on the Company’s supply chain resulting from the COVID-19 pandemic.

Noncontrolling Interests As of June 30, 2021 and December 31, 2020, noncontrolling interests are related to the Ward Village Homeowners’ Associations (HOAs). All revenues and expenses related to the HOAs are attributable to noncontrolling interests and do not impact net income attributable to common stockholders.

<div style="text-align:justify">Financial Instruments - Credit Losses The Company is exposed to credit losses through the sale of goods and services to the Company’s customers. Receivables held by the Company primarily relate to short-term trade receivables and financing receivables, which include Municipal Utility District (MUD) receivables, Special Improvement District (SID) bonds, TIF receivables, net investments in lease receivables, and notes receivable. The Company assesses its exposure to credit loss based on historical collection experience and future expectations by portfolio segment. Historical collection experience is evaluated on a quarterly basis by the Company.</div><div> </div><div style="text-align:justify">The amortized cost basis of financing receivables, consisting primarily of MUD receivables, totaled $411.9 million as of June 30, 2021, including accrued interest of $18.6 million. There has been no material activity in the allowance for credit losses for financing receivables for the six months ended June 30, 2021.</div><div style="text-align:justify"> </div><div style="text-align:justify">Financing receivables are considered to be past due once they are 30 days contractually past due under the terms of the agreement. The Company does not have significant receivables that are past due or on nonaccrual status. There have been no significant write-offs or recoveries of amounts previously written off during the current period for financing receivables.</div>

411900000

18600000

P30D

<div style="margin-bottom:10pt;text-align:justify">Recently Issued Accounting Standards The following is a summary of recently issued and other notable accounting pronouncements that relate to the Company’s business.</div><div style="text-align:justify">ASU 2020-04, Reference Rate Reform The amendments in this Update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform when certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, for which an entity has applied certain optional expedients that are retained through the end of the hedging relationship. The amendments in this Update are effective as of March 12, 2020, through December 31, 2022. The guidance in Accounting Standards Update (ASU) 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedge transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued.</div>

<div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>2. Real Estate and Other Affiliates</div></td></tr></table></div><div style="text-align:justify;text-indent:63pt"> </div><div style="text-align:justify">As of June 30, 2021, the Company is not the primary beneficiary of the investments listed below as it does not have the power to direct the activities that most significantly impact the economic performance of the ventures. As a result, the Company reports its interests in accordance with the equity method. As of June 30, 2021, approximately $610.2 million of indebtedness was secured by the properties owned by the Company’s real estate and other affiliates, of which the Company’s share was $291.3 million based on economic ownership. All of this indebtedness is without recourse to the Company, with the exception of $100.6 million related to 110 North Wacker.</div><div style="text-align:justify"> </div><div style="text-align:justify">Equity investments in real estate and other affiliates are reported as follows:</div><div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:25.800%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.502%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.356%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.356%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.364%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"> </td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Economic/Legal Ownership</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying Value</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Share of Earnings/Dividends</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:middle"> </td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands except percentages</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Equity Method Investments</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Operating Assets:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">110 North Wacker (a)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">see below</td><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">237,804 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">261,143 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">(11,307)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">(27,012)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">The Metropolitan Downtown Columbia (b)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">165 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">195 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">111 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">422 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Stewart Title of Montgomery County, TX</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,034 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,924 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">383 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">160 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">634 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">503 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Woodlands Sarofim #1</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,173 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,120 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">53 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">64 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">m.flats/TEN.M</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">834 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,247 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">318 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">91 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">636 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">156 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Master Planned Communities:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">The Summit (c)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40,920 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">96,300 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,641 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,968)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,291 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,966 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Seaport</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Mr. C Seaport (d)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,249)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,900)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt;text-align:justify">Ssäm Bar (Momofuku) (e)</div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,204 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,101 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(336)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(384)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(688)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,776)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Strategic Developments:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Circle T Ranch and Power Center (f)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">589 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">675 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">HHMK Development</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">KR Holdings</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">230 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">347 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(19)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(117)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(37)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">294,209 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">373,192 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,867 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,552)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19,908 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(927)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other equity investments (g)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,952 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,953 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,755 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,724 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Investments in real estate and other affiliates</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">298,161 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">377,145 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">7,867 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(8,552)</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">23,663 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,797 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)During the third quarter of 2020, 110 North Wacker was completed and placed in service. This triggered a reconsideration event that resulted in the deconsolidation of 110 North Wacker and the recognition of the retained equity method investment at fair market value. Refer to the discussion below for additional details. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The Metropolitan Downtown Columbia was in a deficit position of $5.5 million at June 30, 2021, and $5.0 million at December 31, 2020, due to distributions from operating cash flows in excess of basis. These deficit balances are presented in Accounts payable and accrued expenses at June 30, 2021, and December 31, 2020. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(c)The decrease in investment balance is primarily due to $100.5 million in distributions received during the second quarter of 2021. Refer to discussion below for details on the ownership structure. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(d)During the third quarter of 2020, the Company completed the sale of its 35% equity investment in Mr. C Seaport.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(e)During the first quarter of 2021, Bar Wayō was rebranded as Ssäm Bar. Refer to the discussion below for details on the ownership structure. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(f)During the fourth quarter of 2020, the Company completed the sale of its 50% equity investment in Circle T Ranch and Power Center.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(g)Other equity investments represent equity investments not accounted for under the equity method. The Company elected the measurement alternative as these investments do not have readily determinable fair values. There were no impairments, or upward or downward adjustments to the carrying amounts of these securities either during current year or cumulatively.</div><div style="text-align:justify"> </div><div style="text-align:justify">Significant activity for real estate and other affiliates and the related accounting considerations are described below. </div><div style="text-align:justify"> </div><div style="text-align:justify">110 North Wacker The Company formed a partnership with a local developer (the Partnership) during the second quarter of 2017. During the second quarter of 2018, the Partnership executed an agreement with USAA related to 110 North Wacker (collectively, the local developer and USAA are the Partners) to construct and operate the building at 110 North Wacker (the Venture). </div><div style="text-align:justify">The Partnership was determined to be a variable interest entity (VIE), and as the Company has the power to direct the activities of the Partnership that most significantly impact its economic performance, the Company is considered the primary beneficiary and consolidates the Partnership. Additionally, the noncontrolling interest holder has the right to require the Company to purchase its interest in the Partnership if the Venture has not been sold or refinanced (with distributions made to the local developer and Company sufficient to repay all capital contributions) at the later of (1) the third anniversary of the issuance of the certificate of occupancy for the project or (2) the fifth anniversary of the effective date of the Partnership's LLC agreement. Therefore, the local developer’s redeemable noncontrolling interest in the Partnership is presented as temporary equity on the Condensed Consolidated Balance Sheets. As of June 30, 2021, the time restriction has not been met, and the Company believes it is not probable that the put will be redeemed. As such, the redeemable noncontrolling interest is measured at the initial carrying value plus net income (loss) attributable to the noncontrolling interest and is not adjusted to fair value. The following table presents changes in Redeemable noncontrolling interest:</div><div style="text-align:justify"> </div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:78.432%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.275%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">Redeemable Noncontrolling Interest</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of December 31, 2020</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">29,114 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to noncontrolling interest</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,701)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Share of investee’s other comprehensive income</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">368 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2021</div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">26,781 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"> </div><div style="text-align:justify">Upon execution of the Venture in the second quarter of 2018, the Company contributed land with a carrying value of $33.6 million and an agreed upon fair value of $85.0 million, the local developer contributed $5.0 million in cash and USAA contributed $64.0 million in cash. USAA was required to fund up to $105.6 million in addition to its initial contribution. HHC and the local developer also had additional cash funding requirements and contributed $9.8 million and $1.1 million, respectively, during 2018. The Company and its Partners entered into a construction loan agreement further described in Note 6 - Mortgages, Notes and Loans Payable, Net. Any further cash funding requirements by the Partnership were eliminated when the construction loan was increased on May 23, 2019. Concurrently with the increase in the construction loan, USAA agreed to fund an additional $8.8 million, for a total commitment of $178.4 million. No changes were made to the rights of either the Company or the Partners under the construction loan agreement. </div><div style="text-align:justify"> </div><div style="text-align:justify">The Company concluded that the Venture was within the scope of the VIE model, and that it was the primary beneficiary of the Venture during the development phase of the project because it had the power to direct activities that most significantly impact the Venture’s economic performance; however, upon the building’s completion, the Company expected to recognize the investment under the equity method. As the primary beneficiary of the VIE during the development phase, the Company had consolidated 110 North Wacker and its underlying entities since the second quarter of 2018. During the third quarter of 2020, 110 North Wacker was completed and placed in service, triggering a reconsideration event. Upon development completion, the Company concluded it is no longer the primary beneficiary and as such, should no longer consolidate the Venture. As there have been no changes to the structure and control of the Partnership with the local developer, the Company will continue to consolidate the Partnership. </div><div style="text-align:justify"> </div><div style="text-align:justify">As of September 30, 2020, the Company derecognized all assets, liabilities and noncontrolling interest related to the Venture that were previously consolidated and recognized an equity method investment of $273.6 million based on the fair value of its interest in 110 North Wacker. The Company recognized a gain of $267.5 million attributable to the initial fair value step-up at the time of deconsolidation, which is included in Equity in earnings (losses) from real estate and other affiliates on the Condensed Consolidated Statements of Operations and reported in the Strategic Developments segment for the three months ended September 30, 2020. The Company utilized a third-party appraiser to measure the fair value of 110 North Wacker on an as-is basis at September 30, 2020, using the discounted cash flow approach and sales comparison approach, based on current market assumptions. Also as a result of the deconsolidation, the Company recognized an additional $15.4 million attributable to the recognition of previously eliminated development management fees, which is included in Other land, rental and property revenues on the Condensed Consolidated Statements of Operations and reported in the Strategic Developments segment for the three months ended September 30, 2020. As 110 North Wacker was placed in service, the equity method investment was transferred from the Strategic Development segment to the Operating Asset segment. </div><div style="text-align:justify"> </div><div style="text-align:justify">Given the nature of the Venture’s capital structure and the provisions for the liquidation of assets, the Company’s share of the Venture’s income-producing activities will be recognized based on the Hypothetical Liquidation at Book Value (HLBV) method. Under this method, the Company will recognize income or loss in Equity in earnings from real estate and other affiliates based on the change in its underlying share of the Venture’s net assets on a hypothetical liquidation basis as of the reporting date. After USAA receives a 9.0% preferred return on its capital contribution, the Partnership is entitled to </div><div style="text-align:justify">cash distributions from the venture until it receives a 9.0% return on its capital account, calculated as the initial land contribution of $85.0 million and cash contribution of $5.0 million, plus subsequent cash contributions and less subsequent cash distributions. Subsequently, USAA is entitled to cash distributions equal to 11.11% of the amount distributed to the Partnership that resulted in a 9.0% return. Thereafter, the Partnership and USAA are entitled to distributions pari passu to their profit ownership interests of 90% and 10%, respectively.</div><div style="text-align:justify"> </div><div style="text-align:justify">Ssäm Bar (formerly Bar Wayō) During the first quarter of 2016, the Company formed Pier 17 Restaurant C101, LLC (Bar Wayō) with MomoPier, LLC (Momofuku), an affiliate of the Momofuku restaurant group, to construct and operate a restaurant and bar at Pier 17 in the Seaport. Under the terms of the agreement, the Company funded 89.75% of the costs to construct the restaurant, and Momofuku contributed the remaining 10.25%. In 2021, Bar Wayō was rebranded as the Ssäm Bar. </div><div style="text-align:justify"> </div><div style="text-align:justify">As of June 30, 2021, and December 31, 2020, Ssäm Bar is classified as a VIE because the equity holders, as a group, lack the characteristics of a controlling financial interest. The carrying value of Ssäm Bar as of June 30, 2021, is $7.2 million and is classified as Investments in real estate and other affiliates in the Condensed Consolidated Balance Sheets. The Company’s maximum exposure to loss as a result of this investment is limited to the aggregate carrying value of the investment as the Company has not provided any guarantees or otherwise made firm commitments to fund amounts on behalf of this VIE. </div><div style="text-align:justify"> </div><div style="text-align:justify">After each member receives a 10.0% preferred return on its capital contributions, available cash will be allocated 75.0% to the Company and 25.0% to Momofuku, until each member’s unreturned capital account has been reduced to zero. Any remaining cash will be distributed to the members in proportion to their respective percentage interests, or 50% each to the Company and Momofuku. Given the nature of Ssäm Bar’s capital structure and the provisions for the liquidation of assets, the Company’s share of Ssäm Bar’s income-producing activities is recognized based on the HLBV method. </div><div style="text-align:justify"> </div><div style="text-align:justify">The Summit During the first quarter of 2015, the Company formed DLV/HHPI Summerlin, LLC (The Summit) with Discovery Land Company (Discovery). The Company contributed land with a carrying value of $13.4 million and transferred SID bonds related to such land with a carrying value of $1.3 million to The Summit at the agreed upon capital contribution value of $125.4 million, or $226,000 per acre and has no further capital obligations. Discovery is required to fund up to a maximum of $30.0 million of cash as their capital contribution, of which $3.75 million has been contributed. The gains on the contributed land are recognized in Equity in earnings from real estate and other affiliates as The Summit sells lots. </div><div style="text-align:justify"> </div><div style="text-align:justify">As of June 30, 2021, the Company has received cash distributions equal to its capital contribution of $125.4 million and a 5.0% preferred return on such capital contribution, and Discovery has received cash distributions equal to two times its equity contribution. Any further cash distributions and income-producing activities will be recognized according to equity ownership, with HHC receiving 50% and Discovery receiving 50%.</div><div style="text-align:justify">Summarized Financial Information Relevant financial statement information for significant equity method investments is summarized as follows:</div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:72.730%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.621%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">The Summit (a)(b)</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">110 North Wacker (c)</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance Sheet</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total assets</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">234,684 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">677,078 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">180,597 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">470,950 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total equity</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">54,087 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">206,128 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">December 31, 2020</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total assets</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">310,855 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">634,274 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">209,968 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">415,452 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total equity</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100,887 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">218,822 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income Statement</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Six Months Ended June 30, 2021</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">199,505 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">18,042 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Gross margin</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69,695 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating income (loss)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,390 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69,372 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(16,777)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Six Months Ended June 30, 2020</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">58,672 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Gross margin</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,256 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating income</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,591 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)The decrease in Total Equity for The Summit is primarily the result of distributions made in the second quarter of 2021.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The increase in Revenues for The Summit is due to an increase in units closed, with 35 units closing during the six months ended June 30, 2021 compared to 7 units closing during the six months ended June 30, 2020. </div>(c)The income statement amounts for 110 North Wacker do not include activity for the six months ended June 30, 2020, as it was not accounted for under the equity method during this period.

610200000 291300000

100600000

<div style="text-align:justify">Equity investments in real estate and other affiliates are reported as follows:</div><div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:25.800%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.502%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.356%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.356%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.364%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"> </td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Economic/Legal Ownership</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying Value</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Share of Earnings/Dividends</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:middle"> </td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands except percentages</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Equity Method Investments</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Operating Assets:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">110 North Wacker (a)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle">see below</td><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">237,804 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">261,143 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">(11,307)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">(27,012)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="padding:2px 0;text-align:right;vertical-align:middle">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">The Metropolitan Downtown Columbia (b)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">165 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">195 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">111 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">422 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Stewart Title of Montgomery County, TX</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,034 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,924 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">383 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">160 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">634 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">503 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Woodlands Sarofim #1</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,173 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,120 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">29 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">53 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">64 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">m.flats/TEN.M</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">834 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,247 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">318 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">91 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">636 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">156 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Master Planned Communities:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">The Summit (c)</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40,920 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">96,300 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,641 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,968)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,291 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,966 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Seaport</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Mr. C Seaport (d)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,249)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,900)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt;text-align:justify">Ssäm Bar (Momofuku) (e)</div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">see below</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,204 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,101 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(336)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(384)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(688)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,776)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Strategic Developments:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Circle T Ranch and Power Center (f)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">589 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">675 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">HHMK Development</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">KR Holdings</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">230 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">347 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(19)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(117)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(37)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">294,209 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">373,192 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,867 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,552)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19,908 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(927)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other equity investments (g)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,952 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,953 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,755 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,724 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Investments in real estate and other affiliates</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">298,161 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">377,145 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">7,867 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(8,552)</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">23,663 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,797 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)During the third quarter of 2020, 110 North Wacker was completed and placed in service. This triggered a reconsideration event that resulted in the deconsolidation of 110 North Wacker and the recognition of the retained equity method investment at fair market value. Refer to the discussion below for additional details. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The Metropolitan Downtown Columbia was in a deficit position of $5.5 million at June 30, 2021, and $5.0 million at December 31, 2020, due to distributions from operating cash flows in excess of basis. These deficit balances are presented in Accounts payable and accrued expenses at June 30, 2021, and December 31, 2020. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(c)The decrease in investment balance is primarily due to $100.5 million in distributions received during the second quarter of 2021. Refer to discussion below for details on the ownership structure. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(d)During the third quarter of 2020, the Company completed the sale of its 35% equity investment in Mr. C Seaport.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(e)During the first quarter of 2021, Bar Wayō was rebranded as Ssäm Bar. Refer to the discussion below for details on the ownership structure. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(f)During the fourth quarter of 2020, the Company completed the sale of its 50% equity investment in Circle T Ranch and Power Center.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(g)Other equity investments represent equity investments not accounted for under the equity method. The Company elected the measurement alternative as these investments do not have readily determinable fair values. There were no impairments, or upward or downward adjustments to the carrying amounts of these securities either during current year or cumulatively.</div>

237804000

261143000

-11307000

-27012000

0.50

165000

195000

111000

422000

0.50

4034000

3924000

383000

160000

634000

503000

0.20

3173000

3120000

22000

29000

53000

64000

0.50

834000

1247000

318000

91000

636000

156000

40920000

96300000

18641000

-2968000

46291000

5966000

-6249000

-6900000

7204000

7101000

-336000

-384000

-688000

-1776000

589000

675000

0.50

10000

0.50

230000

347000

-19000

-15000

-117000

-37000

294209000

373192000

7867000

-8552000

19908000

-927000

3952000

3953000

3755000

3724000

298161000

377145000

7867000

-8552000

23663000

2797000

5500000 5000000.0

100500000

0.35

0.50

The following table presents changes in Redeemable noncontrolling interest:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:78.432%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.275%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">Redeemable Noncontrolling Interest</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of December 31, 2020</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">29,114 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to noncontrolling interest</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,701)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Share of investee’s other comprehensive income</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">368 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2021</div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">26,781 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table>

29114000

-2701000

368000

26781000

33600000

85000000.0 5000000.0 64000000.0 105600000 9800000 1100000 8800000 178400000

273600000

267500000

15400000

0.090 0.090 85000000.0 5000000.0 0.1111 0.090 0.90 0.10 0.8975 0.1025

7200000

0.100 0.750 0.250 0.50

13400000

1300000 125400000 226000 30000000.0 3750000 125400000 0.050 2

0.50

Relevant financial statement information for significant equity method investments is summarized as follows:<div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:72.730%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.621%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">The Summit (a)(b)</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">110 North Wacker (c)</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance Sheet</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total assets</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">234,684 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">677,078 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">180,597 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">470,950 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total equity</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">54,087 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">206,128 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">December 31, 2020</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total assets</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">310,855 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">634,274 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">209,968 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">415,452 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Total equity</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">100,887 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">218,822 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income Statement</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Six Months Ended June 30, 2021</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">199,505 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">18,042 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Gross margin</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69,695 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating income (loss)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,390 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">69,372 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(16,777)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Six Months Ended June 30, 2020</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">58,672 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Gross margin</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,256 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Operating income</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,591 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)The decrease in Total Equity for The Summit is primarily the result of distributions made in the second quarter of 2021.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The increase in Revenues for The Summit is due to an increase in units closed, with 35 units closing during the six months ended June 30, 2021 compared to 7 units closing during the six months ended June 30, 2020. </div>(c)The income statement amounts for 110 North Wacker do not include activity for the six months ended June 30, 2020, as it was not accounted for under the equity method during this period.

234684000

677078000

180597000

470950000

54087000

206128000

310855000

634274000

209968000

415452000

100887000

218822000

199505000

18042000

69695000

12390000

69372000

-16777000

58672000

10256000

7591000

35 7

229

51400000

28700000

21300000

1500000

0.35

800000

8000000.0

13.5 203257 550

115000000.0

63700000

75900000

13500000

38300000

76100000

115000000.0

200000

600000

64200000

13100000

1300000

17 0.0875 P24M P48M

48700000

273270

46800000

0.10

6000000.0

0.35

800000

5100000

The following table summarizes the significant components of Prepaid expenses and other assets:<div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:51.092%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.151%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.600%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$ Change</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Special Improvement District receivable </td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">49,864 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">54,770 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(4,906)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">In-place leases </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,611 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">49,161 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,550)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Intangibles </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31,390 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">32,595 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,205)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Prepaid expenses </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">20,909 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,455 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,454 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Security, escrow and other deposits (a)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19,266 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">48,576 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(29,310)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19,086 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,096 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,990 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Condominium inventory (b)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,123 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">55,883 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(44,760)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Tenant incentives and other receivables </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,420 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,612 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,192)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Food and beverage and lifestyle inventory </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,457 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,060 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">397 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">TIF receivable </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">937 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">893 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Prepaid expenses and other assets, net</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">208,063 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">282,101 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(74,038)</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)The decrease in Security, escrow, and other deposits is primarily attributable to the settlement of the rate-lock agreement associated with the loans for 1201 Lake Robbins and The Woodlands Warehouse upon repayment in February 2021. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The decrease in Condominium inventory is attributable to closing on inventory units at Waiea and Anaha.</div>

49864000 54770000 -4906000

46611000

49161000

-2550000

31390000

32595000

-1205000

20909000

17455000

3454000

19266000

48576000

-29310000

19086000

12096000

6990000

11123000 55883000 -44760000

7420000

9612000

-2192000 1457000 1060000 397000

937000

893000

44000

208063000

282101000

-74038000

The following table summarizes the significant components of Accounts payable and accrued expenses:<div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:50.800%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.443%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.600%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$ Change</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Condominium deposit liabilities (a)</td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">343,517 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">309,884 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">33,633 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Construction payables (b)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">295,997 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">253,626 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,371 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Deferred income </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68,548 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66,656 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,892 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Accrued interest (c)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">45,561 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37,007 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,554 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate swap liabilities (d)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39,827 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51,920 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(12,093)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Tenant and other deposits (e)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,197 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25,801 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,396 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Accounts payable and accrued expenses </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">31,786 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">28,589 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,197 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Accrued real estate taxes (f)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,878 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,863 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,985)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Accrued payroll and other employee liabilities </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22,674 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">27,419 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4,745)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other </td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,860 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,493 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(633)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Accounts payable and accrued expenses</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">925,845 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">852,258 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">73,587 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)The increase in Condominium deposit liabilities is attributable to contracted sales at Victoria Place, Kō'ula, and ‘A‘ali‘i.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The increase in Construction payables is attributable to an increase of $78.2 million primarily related to increased construction spend at Ward Village, the Tin Building, and the Summerlin and Bridgeland MPC developments, and a $21.0 million charge for additional remediation costs at Waiea. These increases are partially offset by decreases of $35.8 million related to a reduction of construction spend for projects placed in service in 2020 or approaching completion, as well as costs incurred and paid for Waiea remediation activities during the first half of 2021.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(c)The increase in Accrued interest is primarily due to the accrual of interest due August 2021 on the Company’s $1.3 billion Senior Notes issued in February 2021, as compared to accrued interest on the Company’s $1.0 billion Senior Notes repurchased in the first quarter of 2021. See Note 6 - Mortgages, Notes and Loans Payable, Net for additional information. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(d)The decrease in Interest rate swap liabilities is due to an increase of the one-month LIBOR forward curve for the periods presented.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(e)The increase in Tenant and other deposits is primarily due to a $13.5 million deposit received in the second quarter of 2021 related to a 216-acre superpad sale in Summerlin. The sale is expected to close in the fourth quarter of 2021.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(f)The decrease in Accrued real estate taxes is primarily due to the payment of 2020 real estate taxes in the first quarter of 2021.</div>

343517000 309884000 33633000

295997000

253626000

42371000

68548000

66656000

1892000

45561000

37007000

8554000

39827000

51920000

-12093000

38197000

25801000

12396000

31786000

28589000

3197000

27878000

38863000

-10985000

22674000

27419000

-4745000

11860000

12493000

-633000

925845000

852258000

73587000 78200000 21000000.0 -35800000

1300000000

1000000000.0

13500000 216

<div style="text-align:justify">Mortgages, notes and loans payable, net are summarized as follows: </div><div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:71.268%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.791%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">June 30, 2021</div></td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">December 31, 2020</div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Fixed-rate debt:</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt">Unsecured 5.375% Senior Notes due 2025</div></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,000,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt">Unsecured 5.375% Senior Notes due 2028</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">750,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">750,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt">Unsecured 4.125% Senior Notes due 2029</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">650,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt">Unsecured 4.375% Senior Notes due 2031</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">650,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Secured mortgages, notes and loans payable</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">643,315 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">590,517 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Special Improvement District bonds</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">32,807 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">34,305 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Variable-rate debt:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Mortgages, notes and loans payable (a)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,768,062 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,945,344 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Unamortized bond discounts</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4,355)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Unamortized deferred financing costs (b)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(44,850)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(28,442)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Total mortgages, notes and loans payable, net</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,449,333 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,287,369 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)As of June 30, 2021, $650.5 million of variable‑rate debt has been swapped to a fixed rate for the term of the related debt. As of December 31, 2020, $649.9 million of variable‑rate debt had been swapped to a fixed rate for the term of the related debt. As of June 30, 2021, $124.2 million of variable-rate debt was capped at a maximum interest rate. As of December 31, 2020, $75.0 million of variable-rate debt was capped at a maximum interest rate. See Note 8 - Derivative Instruments and Hedging Activities for additional information. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)Deferred financing costs are amortized to interest expense over the terms of the respective financing agreements using the effective interest method (or other methods which approximate the effective interest method).</div><div style="text-align:justify">The Company’s borrowing activity is summarized as follows: </div><div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:41.443%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.823%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.037%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Initial / Extended Maturity (a)</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Interest Rate</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying Value</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance at December 31, 2020</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,287,369 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Issuances:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Senior Notes due 2029</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">February 2029</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.13 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(c)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">650,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Senior Notes due 2031</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">February 2031</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.38 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(c)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">650,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Borrowings:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Victoria Place</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">September 2024/September 2026</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.25 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(b),(d)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,718 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Tanager Apartments</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">May 2031</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3.13 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(e)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">58,500 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Draws on existing mortgages, notes and loans payable</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">101,864 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Repayments:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">1201 Lake Robbins</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">June 2021</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.49 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(b),(f)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(273,070)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">The Woodlands Warehouse</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">June 2021</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.49 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(b),(f)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7,230)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Tanager Apartments</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">October 2021 / October 2024</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.50 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(b),(e)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39,992)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Repayments on existing mortgages, notes and loans payable</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7,762)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Redemptions</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Senior Notes due 2025</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">March 2025</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.38 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">(f)</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,000,000)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Special Improvement District bond assumptions</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">April 2049</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,010)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Deferred financing costs, net</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(12,054)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance at June 30, 2021</div></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,449,333 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)Maturity dates presented represent initial maturity dates and the extended or final maturity dates as contractually stated. HHC has the option to exercise extension periods at the initial maturity date, subject to extension terms that are based on current property performance projections. Extension terms may include minimum debt service coverage, minimum occupancy levels or condominium sales levels, as applicable and other performance criteria. In certain cases, due to property performance not meeting covenants, HHC may have to pay down a portion of the loan to obtain the extension.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The interest rate presented is based on the one-month LIBOR, three-month LIBOR or Prime rate, as applicable, which was 0.10%, 0.15% and 3.25%, respectively, at June 30, 2021. Interest rates associated with loans that have been paid off reflect the interest rate at December 31, 2020.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(c)In February 2021, the Company issued $650 million in 4.125% Senior Notes due 2029 and $650 million in 4.375% Senior Notes due 2031. These notes will pay interest semi-annually in February and August of each year, beginning in August 2021. These notes will be unsecured senior obligations of the Company and will be guaranteed by certain subsidiaries of the Company.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(d)In March 2021, the Company closed on a $368.2 million construction loan for the development of Victoria Place in Ward Village. The loan bears interest at one-month LIBOR plus 5.00%, subject to a LIBOR cap of 2.00% and a LIBOR floor of 0.25%, with an initial maturity of September 2024 and 2 one-year extension options. Concurrent with the funding of the loan, the Company entered into interest rate cap agreements with a total notional amount of $368.2 million and interest rate of 2.00%.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(e)In April 2021, the Company closed on a $58.5 million loan to replace the existing construction loan for Tanager Apartments in Downtown Summerlin. The loan bears interest at 3.13% fixed with a maturity of May 2031.</div>(f)The Company used the net proceeds from the February 2021 issuance of Senior Notes due 2029 and 2031, as well as available cash on hand, as follows: (1) repurchased its $1.0 billion 5.375% Senior Notes due 2025; resulting in a $35.1 million loss on extinguishment of debt and (2) repaid $280.3 million outstanding under its loans for 1201 Lake Robbins and The Woodlands Warehouse maturing June 2021, resulting in a $10.0 million loss on the settlement of the rate-lock agreement associated with these loans.

0.05375

1000000000

0.05375

750000000

0.04125

650000000

0.04375

650000000

643315000

590517000

32807000

34305000

1768062000

1945344000

4355000

44850000

28442000

4449333000

4287369000

650500000

649900000

124200000

75000000.0

4400000000

700000000.0

615000000.0

85000000.0

50000000.0

250000000.0

100000000.0

150000000.0

50000000.0

0 1000000.0

615000000.0

33600000

4287369000

0.0413

650000000

0.0438

650000000

0.0525

42718000

0.0313

58500000

101864000

0.0249

273070000

0.0249

7230000

0.0250

39992000

7762000

0.0538

1000000000

0.0400

1010000 12054000

4449333000

0.0010

0.0015

0.0325

650000000

0.04125

650000000

0.04375

368200000

0.0500

0.0200 0.0025 2 P1Y

368200000

0.0200

58500000

0.0313

1000000000.0

0.05375

-35100000

280300000

-10000000.0

82600000

0.0295

P1Y

42700000

0.0275

0.0375

P1Y

35500000

0.0315

<div style="text-align:justify">The following table presents the fair value measurement hierarchy levels required under ASC 820 for the Company’s liabilities that are measured at fair value on a recurring basis:</div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.971%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.637%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.074%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.052%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.709%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.033%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="21" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="21" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair Value Measurements Using</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair Value Measurements Using</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Quoted Prices in Active Markets for Identical Assets (Level 1)</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Significant Other Observable Inputs (Level 2)</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Significant Unobservable Inputs (Level 3)</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Quoted Prices in Active Markets for Identical Assets (Level 1)</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Significant Other Observable Inputs (Level 2)</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Significant Unobservable Inputs (Level 3)</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Assets:</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Interest rate derivative assets</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">164 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">164 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Interest rate derivative liabilities</td><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">39,827 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">39,827 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">51,920 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">51,920 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

164000

39827000

51920000

<div style="text-align:justify">The estimated fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis are as follows:</div><div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:31.063%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.157%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.502%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"> </td><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair Value Hierarchy</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying Amount</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Estimated Fair Value</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Carrying Amount</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Estimated Fair Value</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Assets:</td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Cash and Restricted cash</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Level 1</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,282,744 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,282,744 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,242,997 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,242,997 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Accounts receivable, net (a)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Level 3</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81,503 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">81,503 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66,726 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66,726 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Notes receivable, net (b)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Level 3</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,235 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,235 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">622 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">622 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"> </td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Fixed-rate debt (c)</td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,726,121 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,766,762 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,374,822 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,461,155 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Variable-rate debt (c)</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,768,062 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,768,062 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,945,344 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,945,344 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)Accounts receivable, net is shown net of an allowance of $30.6 million at June 30, 2021, and $33.0 million at December 31, 2020. Refer to Note 1 - Summary of Significant Accounting Policies for additional information on the allowance. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)Notes receivable, net is shown net of an allowance of $0.2 million at June 30, 2021, and $0.2 million at December 31, 2020. Refer to Note 1 - Summary of Significant Accounting Policies for additional information on the allowance. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(c)Excludes related unamortized financing costs.</div>

1282744000

1242997000

81503000

66726000

3235000

622000

2726121000

2766762000

2374822000

2461155000

1768062000

1945344000

30600000

33000000.0

200000

<div style="text-align:justify">The below table includes non-financial assets that were measured at fair value on a non-recurring basis resulting in the properties being impaired: </div><div style="margin-bottom:3pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:28.578%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.823%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.969%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.823%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.499%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="15" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Fair Value Measurements Using</td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">Segment</td><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">Total Fair Value Measurement</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Quoted Prices in Active Markets for Identical Assets (Level 1)</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Significant Other Observable Inputs (Level 2)</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Significant Unobservable Inputs (Level 3)</td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom">2021</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Century Park (a)</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Strategic Developments</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">32,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">32,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom">2020</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Outlet Collection at Riverwalk (b)</td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating Assets</td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,794 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,794 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)The fair value was measured using weighted income and market valuation techniques as of the impairment date in the second quarter of 2021. Refer to Note 4 -Impairment for additional information.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)The fair value was measured as of the impairment date in 2020 based on a discounted cash flow analysis using a capitalization rate of 10.0% and is shown net of transaction costs. Refer to Note 4 -Impairment for additional information.</div>

32000000 0 0 32000000 46794000 0 0 46794000 0.100

0 0

800000

1500000

0 0

-16900000

<div style="text-align:justify">The following table summarizes certain terms of the Company’s derivative contracts:</div><div style="margin-bottom:3pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.432%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.092%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.063%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.847%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"> </td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"> </td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"> </td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"> </td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">Fair Value Asset (Liability)</td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#dbdbdb;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"> </td><td colspan="3" style="background-color:#dbdbdb;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance Sheet Location</td><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:center;vertical-align:bottom">Notional Amount</td><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:center;vertical-align:bottom">Fixed Interest Rate (a)</td><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:center;vertical-align:bottom">Effective Date</td><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:center;vertical-align:bottom">Maturity Date</td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom">Derivative instruments not designated as hedging instruments:</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom">Interest rate cap</td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom">(b)</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Prepaid expenses and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">285,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">3/12/2021</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">9/15/2023</td><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">126 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom">Interest rate cap</td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom">(b)</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Prepaid expenses and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">83,200 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">3/12/2021</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">9/15/2023</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom">Interest rate cap</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom">(c)</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle">Prepaid expenses and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">75,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5.00 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">8/31/2020</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">10/17/2022</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom">Total fair value derivative assets</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">164 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:justify;vertical-align:bottom">Derivative instruments designated as hedging instruments:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate swap</td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom">(d)</td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Accounts payable and accrued expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">615,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2.96 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">9/21/2018</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">9/18/2023</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(36,219)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46,613)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate swap</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom">(e)</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Accounts payable and accrued expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">35,487 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4.89 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">11/1/2019</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">1/1/2032</td><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,608)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5,307)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="9" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom">Total fair value derivative liabilities</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39,827)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(51,920)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="9" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom">Total fair value derivatives, net </td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(39,663)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(51,920)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)These rates represent the strike rate on HHC’s interest swaps and caps. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(b)In March 2021, the Company entered into two new interest rate caps, which are not designated as hedging instruments. Interest expense included in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2021, related to these contracts was not material.</div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(c)In the third quarter of 2020, the Company executed an agreement to extend the maturing position of this cap. Interest expense included in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2021, and the year ended December 31, 2020, related to this contract was not material. </div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(d)Concurrent with the funding of the $615.0 million term loan in September 2018, the Company entered into this interest rate swap which is designated as a cash flow hedge. </div>(e)Concurrent with the closing of the $35.5 million construction loan for 8770 New Trails in June 2019, the Company entered into this interest rate swap, which is designated as a cash flow hedge.

285000000

0.0200

126000

83200000

0.0200

38000

75000000

0.0500

164000

615000000

0.0296

36219000

46613000

35487000

0.0489

3608000

5307000

39827000

51920000

-39663000

-51920000

2 2

615000000.0

35500000

<div style="text-align:justify">The tables below present the effect of the Company’s derivative financial instruments on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2021, and 2020:</div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:45.302%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.827%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.678%"/><td style="width:0.1%"/></tr><tr style="height:12pt"><td colspan="3" rowspan="2" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Derivatives in Cash Flow Hedging Relationships</td><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Amount of Gain (Loss) Recognized in AOCI on Derivatives</td></tr><tr style="height:12pt"><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest rate derivatives</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(1,136)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(4,197)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">2,247 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(36,248)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"> </div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:45.302%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.827%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.678%"/><td style="width:0.1%"/></tr><tr style="height:12pt"><td colspan="3" rowspan="2" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Location of Gain (Loss) Reclassified from AOCI into Operations</td><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">Amount of Gain (Loss) Reclassified from AOCI into Operations</td></tr><tr style="height:12pt"><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2020</td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest expense</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(3,041)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(3,359)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(6,014)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(4,509)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"> </div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:45.302%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.827%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.534%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.678%"/><td style="width:0.1%"/></tr><tr style="height:21pt"><td colspan="3" rowspan="2" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest Expense Presented in Results of Operations</td><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total Interest Expense Presented in the Results of Operations in which the Effects of Cash Flow Hedges are Recorded</td></tr><tr style="height:12pt"><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Interest expense</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">31,439 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">32,397 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">65,649 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">66,845 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

-1136000

-4197000

2247000

-36248000

-3041000

-3359000

-6014000

-4509000

31439000

32397000

65649000

66845000

50000000.0

54600000

50000000.0

500

99200000

21000000.0

112000000.0

5100000

347300000

5200000

272400000

1900000

3700000

1500000

3300000

0.20 3 3

<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:37.642%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.265%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/><td colspan="15" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="15" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands except percentages</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">$ Change</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">$ Change</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Income tax expense (benefit)</td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(1,550)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(6,844)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">5,294 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(22,755)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(40,944)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">18,189 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income (loss) before income taxes</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,067 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(40,947)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">43,014 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(87,297)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(200,129)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">112,832 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Effective tax rate</td><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle">NM</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">16.7 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle">%</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle">NM</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">26.1 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle">%</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">20.5 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle">%</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">5.6 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle">%</td></tr></table>

-1550000

-6844000

5294000

-22755000

-40944000

18189000

2067000

-40947000

43014000

-87297000

-200129000

112832000

0.167

0.261

0.205

0.056

50125

112.08

1000000.0

1965409

87951

50000000.0 2000000.0

124.64

117.01

<div style="text-align:justify">The following tables summarize changes in accumulated other comprehensive income (AOCI) by component, all of which are presented net of tax:</div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:85.343%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.457%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance as of March 31, 2021</td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(31,017)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Other comprehensive income (loss) before reclassifications</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,136)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">(Gain) loss reclassified from accumulated other comprehensive loss to net income</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,041 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Share of investee's other comprehensive income, net of tax expense (benefit) of $386</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,358 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net current-period other comprehensive income</td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,263 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2021</div></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(27,754)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Balance as of March 31, 2020</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(60,273)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Other comprehensive income (loss) before reclassifications</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4,197)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">(Gain) loss reclassified from accumulated other comprehensive loss to net income</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,359 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net current-period other comprehensive loss</td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(838)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2020</div></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(61,111)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of December 31, 2020</div></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(38,590)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Other comprehensive income (loss) before reclassifications</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,247 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">(Gain) loss reclassified from accumulated other comprehensive loss to net income</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,014 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt">Share of investee's other comprehensive income, net of tax expense (benefit) of $732</div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,575 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net current-period other comprehensive loss</td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,836 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2021</div></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(27,754)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of December 31, 2019</div></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(29,372)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Other comprehensive income (loss) before reclassifications</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(36,248)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">(Gain) loss reclassified from accumulated other comprehensive loss to net income</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,509 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net current-period other comprehensive loss</td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(31,739)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2020</div></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(61,111)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

-31017000

-1136000

-3041000

386000

1358000

3263000

-27754000

-60273000

-4197000

-3359000

-838000

-61111000

-38590000

2247000

-6014000

732000

2575000

10836000

-27754000

-29372000

-36248000

-4509000

-31739000

-61111000

<div style="text-align:justify">The following table summarizes the amounts reclassified out of AOCI:</div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:39.543%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.395%"/><td style="width:0.1%"/></tr><tr style="height:21pt"><td colspan="3" rowspan="2" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Accumulated Other Comprehensive Income (Loss) Components</td><td colspan="21" style="background-color:#d8d8d8;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Amounts reclassified from Accumulated Other Comprehensive Income (Loss)</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"> </td></tr><tr style="height:21pt"><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td><td colspan="3" rowspan="2" style="background-color:#d8d8d8;padding:2px 1pt;text-align:center;vertical-align:bottom">Affected line items in the Statements of Operations</td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">(Gains) losses on cash flow hedges</td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,888 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">4,103 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">7,689 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,510 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Interest expense</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Income taxes on (gains) losses on cash flow hedges</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(847)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(744)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,675)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,001)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Provision for income taxes</td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total reclassifications of (income) loss, net of tax for the period</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">3,041 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">3,359 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">6,014 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,509 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/></tr></table></div>

3888000

4103000

7689000

5510000

-847000

-744000

-1675000

-1001000

-3041000

-3359000

-6014000

-4509000

<div style="text-align:justify">Information related to the Company’s EPS calculations is summarized as follows: </div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:50.290%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.469%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands except per share amounts</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">3,617 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(34,103)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(64,542)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(159,185)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,224 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,789 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,841 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(34,084)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(61,753)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(159,218)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Shares</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"> </td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Weighted-average common shares outstanding - basic</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">55,704 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">55,530 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">55,691 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">49,455 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Restricted stock and stock options</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">53 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Weighted-average common shares outstanding - diluted</td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">55,757 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">55,530 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">55,691 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">49,455 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) per common share</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Basic income (loss) per share</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">0.09 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(0.61)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(1.11)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">(3.22)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Diluted income (loss) per share</td><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">0.09 </td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(0.61)</td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(1.11)</td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(3.22)</td><td style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

3617000

-34103000

-64542000

-159185000

-1224000

-19000

-2789000

33000

4841000

-34084000

-61753000

-159218000

55704000

55530000

55691000

49455000

53000

55757000

55530000

55691000

49455000

0.09

-0.61

-1.11

-3.22

0.09

-0.61

-1.11

-3.22

231500

326958

285487

472116

518750

440283

2000000

50.00

300000

270900

10000000

50.00

12270900

593600000

<div>The following table presents the Company’s revenues disaggregated by revenue source: </div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.490%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.208%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Revenues from contracts with customers</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Recognized at a point in time:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Condominium rights and unit sales</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">12,861 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">50,028 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">43 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Master Planned Communities land sales</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">58,342 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">57,073 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">95,819 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">96,805 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Builder price participation</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,389 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,947 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,183 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16,706 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Total</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">82,592 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">66,020 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">164,030 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">113,554 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Recognized at a point in time or over time:</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Other land, rental and property revenues</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41,389 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,447 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">64,632 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,344 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom">Rental and lease-related revenues</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom">Rental revenue</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">88,476 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78,706 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">174,375 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">171,450 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">212,457 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">156,173 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">403,037 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">331,348 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Revenues by segment</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Operating Assets revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">113,422 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">84,277 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">209,861 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">198,534 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Master Planned Communities revenues</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">74,578 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68,913 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">122,865 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">119,359 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Seaport revenues</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,898 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,272 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,351 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,966 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Strategic Developments revenues</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">13,466 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">624 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">51,766 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,384 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Corporate revenues</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">93 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">87 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">194 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">105 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">212,457 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">156,173 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">403,037 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">331,348 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

12861000

50028000

43000

58342000

57073000

95819000

96805000

11389000

8947000

18183000

16706000

82592000

66020000

164030000

113554000

41389000

11447000

64632000

46344000

88476000

78706000

174375000

171450000

212457000

156173000

403037000

331348000

113422000

84277000

209861000

198534000

74578000

68913000

122865000

119359000

10898000

2272000

18351000

11966000

13466000

624000

51766000

1384000

93000

87000

194000

105000

212457000

156173000

403037000

331348000

The beginning and ending balances of contract liabilities and significant activity during the period are as follows: <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:79.894%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:17.176%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom">Contract Liabilities</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of December 31, 2020</div></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">360,416 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Consideration earned during the period</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(71,778)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Consideration received during the period</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">127,030 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2021</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">415,668 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of December 31, 2019</div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">246,010 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Consideration earned during the period</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(30,200)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Consideration received during the period</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">122,526 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance as of June 30, 2020</div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">338,336 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table>

360416000

71778000 127030000

415668000

246010000

30200000 122526000

338336000

P30D

2000000000.0

The Company expects to recognize this amount as revenue over the following periods:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.607%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.847%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.992%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.600%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom">Less than 1 year</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom">1-2 years</td><td colspan="6" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom">3 years and thereafter</td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total remaining unsatisfied performance obligations</td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">713,231 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">544,582 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">737,106 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table>

713231000

544582000

737106000

P1Y

P52Y

P40Y

P1Y <div style="text-align:justify">The Company’s leased assets and liabilities are as follows:</div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:72.730%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.622%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Assets</td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Operating lease right-of-use assets, net</td><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">54,566 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">56,255 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Liabilities</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Operating lease obligations</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68,102 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">68,929 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

54566000

56255000

68102000

68929000

<div style="text-align:justify">The components of lease expense are as follows:</div><div style="margin-bottom:10pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:54.601%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.431%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating lease cost</td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,180 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,179 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">4,363 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">4,358 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Variable lease costs</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">324 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">117 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">440 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">290 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net lease cost</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,504 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,296 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">4,803 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">4,648 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify">Other information related to the Company’s lessee agreements is as follows:</div><div style="margin-bottom:10pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.116%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.428%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Supplemental Condensed Consolidated Statements of Cash Flows Information</td><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Cash paid for amounts included in the measurement of lease liabilities:</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Operating cash flows on operating leases</td><td style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,531 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,849 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.262%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.428%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Other Information</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Weighted-average remaining lease term (years)</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Operating leases</td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">37.3</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom">37.0</td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Weighted-average discount rate</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom">Operating leases</td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.8 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7.8 </td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom">%</td></tr></table></div>

2180000

2179000

4363000

4358000

324000

117000

440000

290000

2504000

2296000

4803000

4648000

<div style="text-align:justify">Future minimum lease payments as of June 30, 2021, are as follows:</div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:88.373%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.427%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Operating Leases</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Remainder of 2021</div></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,349 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2022</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,507 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,464 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">6,432 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,047 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Thereafter</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">261,806 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total lease payments</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">289,605 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Less: imputed interest</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(221,503)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Present value of lease liabilities</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">68,102 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

3349000

6507000

6464000

6432000

5047000

261806000

289605000

221503000

68102000

3531000

3849000

P37Y3M18D

P37Y

0.078

P5Y

The minimum rentals based on operating leases of the consolidated properties held as of June 30, 2021, are as follows: <div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:54.601%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.431%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30,</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30,</td></tr><tr><td colspan="3" style="background-color:#d8d8d8;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td><td colspan="3" style="background-color:#d8d8d8;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">2020</td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total minimum rent payments</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">54,658 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">54,114 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">108,000 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">113,213 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"> </div><div style="text-align:justify">Total future minimum rents associated with operating leases are as follows as of June 30, 2021:</div><div style="margin-bottom:10pt;margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:85.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.789%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total Minimum Rent</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Remainder of 2021</div></td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle">118,036 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2022</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">246,736 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2023</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">242,933 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2024</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">238,289 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2025</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">211,057 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Thereafter</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">1,296,561 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Total</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:middle">2,353,612 </td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div>

54658000 54114000 108000000 113213000

118036000

246736000

242933000

238289000

211057000

1296561000

2353612000

3800000

<div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>16. Segments</div></td></tr></table></div><div style="text-align:justify;text-indent:63pt"> </div><div style="text-align:justify">The Company has four business segments that offer different products and services. HHC’s four segments are managed separately because each requires different operating strategies or management expertise and are reflective of management’s operating philosophies and methods. As further discussed in Item 2. - Management’s Discussion and Analysis of Financial Condition and Results of Operations, one common operating measure used to assess operating results for the Company’s business segments is earnings before taxes (EBT). The Company’s segments or assets within such segments could change in the future as development of certain properties commences or other operational or management changes occur. All operations are within the United States. The Company’s reportable segments are as follows: </div><div style="padding-left:27pt;text-align:justify;text-indent:-18pt">–Operating Assets – consists of developed or acquired retail, office, hospitality and multi-family properties along with other real estate investments. These properties are currently generating revenues and may be redeveloped, repositioned, or sold to improve segment performance or to recycle capital.</div><div style="padding-left:27pt;text-align:justify;text-indent:-18pt">–MPC – consists of the development and sale of land in large‑scale, long‑term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Columbia, Maryland.</div><div style="padding-left:27pt;text-align:justify;text-indent:-18pt">–Seaport – consists of approximately 453,000 square feet of restaurant, retail and entertainment properties situated in three primary locations in New York, New York: Pier 17, Historic Area/Uplands and Tin Building. While the latter is still under development and will comprise about 53,000 square feet when completed, the two operating locations consist of third-party tenants, tenants either directly or jointly owned and operated by the Company and businesses owned and operated by the Company under licensing agreements. </div><div style="padding-left:27pt;text-align:justify;text-indent:-18pt">–Strategic Developments – consists of residential condominium and commercial property projects currently under development and all other properties held for development which have no substantial operations.</div><div>Segment operating results are as follows:</div><div style="margin-bottom:3pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:43.995%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.173%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.223%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.713%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Operating Assets Segment (a)</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">MPC Segment</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Seaport Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Strategic Developments Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Three Months Ended June 30, 2021</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">113,422 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">74,578 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">10,898 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">13,466 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">212,364 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(53,191)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33,905)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15,996)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(18,640)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(121,732)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">60,231 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40,673 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5,098)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5,174)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">90,632 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39,975)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(98)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7,004)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,597)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(48,674)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(18,152)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,615 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">187 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">659 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,691)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(156)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(618)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(760)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,419)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,641 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(336)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(19)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,867 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on extinguishment of debt</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for impairment</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(8,517)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">69,831 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(12,869)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">2,148 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">50,593 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46,976)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,617 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,224 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,841 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Three Months Ended June 30, 2020</div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">84,277 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">68,913 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">2,272 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">624 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">156,086 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(42,222)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(31,970)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,464)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(12,517)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(95,173)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,055 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36,943 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,192)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,893)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">60,913 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(36,995)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(91)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,776)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,650)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(45,512)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(23,103)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,303 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4,626)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,057 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(18,369)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">226 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(409)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,668 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,485 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">475 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,968)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,633)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">574 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,552)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(17,342)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">42,187 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(24,636)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(2,244)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(2,035)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(32,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(34,103)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(34,084)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)Total revenues includes hospitality revenues of $13.9 million for the three months ended June 30, 2021, and $2.5 million for the three months ended June 30, 2020. Total operating expenses includes hospitality operating costs of $11.0 million for the three months ended June 30, 2021, and $4.4 million for the three months ended June 30, 2020.</div><div style="margin-bottom:3pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.490%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.157%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.285%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Operating Assets Segment (a)</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">MPC Segment</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Seaport Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Strategic Developments Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Six Months Ended June 30, 2021</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">209,861 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">122,865 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">18,351 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">51,766 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">402,843 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(100,425)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(57,172)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(28,502)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(78,263)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(264,362)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">109,436 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">65,693 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,151)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(26,497)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">138,481 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(79,626)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(170)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,839)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,195)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(96,830)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(37,152)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,372 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">289 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,760 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,731)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,254)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(954)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,194)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(21,823)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,291 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(688)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(117)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23,663 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on extinguishment of debt</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(882)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(882)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for impairment</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(40,301)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">133,186 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(25,343)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(19,770)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">47,772 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(112,314)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(64,542)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,789 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(61,753)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Six Months Ended June 30, 2020</div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">198,534 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">119,359 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">11,966 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,384 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">331,243 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(94,462)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(55,692)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(22,775)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(116,816)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(289,745)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">104,072 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">63,667 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,809)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(115,432)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41,498 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(74,084)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(182)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(27,651)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,411)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(105,328)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(49,296)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16,857 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(9,679)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,988 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39,130)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,777)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,293 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,317)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,869 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,966 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,676)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">638 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,797 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,124 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,124 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for impairment</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(48,738)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(48,738)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(24,886)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">86,308 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(60,592)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(105,924)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(105,094)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(54,091)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(159,185)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(159,218)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)Total revenues includes hospitality revenues of $21.6 million for the six months ended June 30, 2021, and $19.8 million for the six months ended June 30, 2020. Total operating expenses includes hospitality operating costs of $18.9 million for the six months ended June 30, 2021, and $17.2 million for the six months ended June 30, 2020.</div><div>The assets by segment and the reconciliation of total segment assets to the Total assets in the Condensed Consolidated Balance Sheets are summarized as follows: </div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:71.560%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.499%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating Assets</td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,949,294 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,936,119 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Master Planned Communities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,327,151 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,285,896 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Seaport</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">972,512 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">924,245 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Strategic Developments</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,212,919 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,132,231 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Total segment assets</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,461,876 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,278,491 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">847,193 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">861,841 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Total assets</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">9,309,069 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">9,140,332 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

453000

53000

<div>Segment operating results are as follows:</div><div style="margin-bottom:3pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:43.995%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.173%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.223%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.532%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.713%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Operating Assets Segment (a)</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">MPC Segment</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Seaport Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Strategic Developments Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Three Months Ended June 30, 2021</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">113,422 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">74,578 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">10,898 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">13,466 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">212,364 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(53,191)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33,905)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(15,996)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(18,640)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(121,732)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">60,231 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">40,673 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5,098)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(5,174)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">90,632 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39,975)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(98)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(7,004)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,597)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(48,674)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(18,152)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,615 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">187 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">659 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,691)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(156)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(618)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(760)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,419)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,641 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(336)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(19)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">7,867 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on extinguishment of debt</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for impairment</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(8,517)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">69,831 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(12,869)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">2,148 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">50,593 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(46,976)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,617 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,224 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">4,841 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Three Months Ended June 30, 2020</div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">84,277 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">68,913 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">2,272 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">624 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">156,086 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(42,222)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(31,970)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,464)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(12,517)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(95,173)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42,055 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">36,943 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,192)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,893)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">60,913 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(36,995)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(91)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,776)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,650)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(45,512)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(23,103)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,303 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(4,626)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,057 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(18,369)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">226 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(409)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,668 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,485 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">475 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,968)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,633)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">574 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,552)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(17,342)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">42,187 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(24,636)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(2,244)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(2,035)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(32,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(34,103)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">19 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(34,084)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)Total revenues includes hospitality revenues of $13.9 million for the three months ended June 30, 2021, and $2.5 million for the three months ended June 30, 2020. Total operating expenses includes hospitality operating costs of $11.0 million for the three months ended June 30, 2021, and $4.4 million for the three months ended June 30, 2020.</div><div style="margin-bottom:3pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.490%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.157%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.285%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Operating Assets Segment (a)</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">MPC Segment</td><td colspan="3" style="display:none"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Seaport Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Strategic Developments Segment</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Six Months Ended June 30, 2021</div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">209,861 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">122,865 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">18,351 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">51,766 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">402,843 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(100,425)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(57,172)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(28,502)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(78,263)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(264,362)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">109,436 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">65,693 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,151)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(26,497)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">138,481 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(79,626)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(170)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,839)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,195)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(96,830)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(37,152)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,372 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">289 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,760 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,731)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,254)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(954)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(11,194)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(21,823)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,291 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(688)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(117)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">23,663 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">21,333 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on extinguishment of debt</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(882)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(882)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for impairment</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(13,068)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(40,301)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">133,186 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(25,343)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">(19,770)</td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">47,772 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(112,314)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(64,542)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,789 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(61,753)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Six Months Ended June 30, 2020</div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total revenues</td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">198,534 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">119,359 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">11,966 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">1,384 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="padding:2px 0;text-align:right;vertical-align:bottom">331,243 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Total operating expenses</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(94,462)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(55,692)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(22,775)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(116,816)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(289,745)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment operating income (loss)</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">104,072 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">63,667 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,809)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(115,432)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">41,498 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Depreciation and amortization</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(74,084)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(182)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(27,651)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,411)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(105,328)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Interest income (expense), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(49,296)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">16,857 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(9,679)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,988 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39,130)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Other income (loss), net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">167 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(3,777)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,293 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,317)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Equity in earnings (losses) from real estate and other affiliates</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,869 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">5,966 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(8,676)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">638 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,797 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Gain (loss) on sale or disposal of real estate and other assets, net</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">38,124 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,000 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">46,124 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Provision for impairment</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(48,738)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(48,738)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Segment EBT </td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(24,886)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">86,308 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(60,592)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(105,924)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(105,094)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate income, expenses and other items</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(54,091)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss)</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(159,185)</td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Net (income) loss attributable to noncontrolling interests</td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(33)</td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income (loss) attributable to common stockholders</td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">(159,218)</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt">(a)Total revenues includes hospitality revenues of $21.6 million for the six months ended June 30, 2021, and $19.8 million for the six months ended June 30, 2020. Total operating expenses includes hospitality operating costs of $18.9 million for the six months ended June 30, 2021, and $17.2 million for the six months ended June 30, 2020.</div>

113422000

74578000

10898000

13466000

212364000

53191000

33905000

15996000

18640000

121732000

60231000 40673000 -5098000 -5174000 90632000

39975000

98000

7004000

1597000

48674000

-18152000

10615000

187000

659000

-6691000

-156000 0 -618000 14000 -760000

-10419000

18641000

-336000

-19000

7867000

21333000

-46000

13068000

-8517000

69831000

-12869000

2148000

50593000

-46976000

3617000

-1224000

4841000

84277000

68913000

2272000

624000

156086000

42222000

31970000

8464000

12517000

95173000

42055000 36943000 -6192000 -11893000 60913000

36995000

91000

6776000

1650000

45512000

-23103000

8303000

-4626000

1057000

-18369000

226000 0 -409000 1668000 1485000

475000

-2968000

-6633000

574000

-8552000

8000000

-17342000

42187000

-24636000

-2244000

-2035000

-32068000

-34103000

-19000

-34084000

13900000

2500000

11000000.0

4400000

209861000

122865000

18351000

51766000

402843000

100425000

57172000

28502000

78263000

264362000

109436000 65693000 -10151000 -26497000 138481000

79626000

170000

13839000

3195000

96830000

-37152000

21372000

289000

1760000

-13731000

-10254000 0 -954000 14000 -11194000

-21823000

46291000

-688000

-117000

23663000

21333000

-882000

13068000

-40301000

133186000

-25343000

-19770000

47772000

-112314000

-64542000

-2789000

-61753000

198534000

119359000

11966000

1384000

331243000

94462000

55692000

22775000

116816000

289745000

104072000 63667000 -10809000 -115432000 41498000

74084000

182000

27651000

3411000

105328000

-49296000

16857000

-9679000

2988000

-39130000

167000 0 -3777000 1293000 -2317000

4869000

5966000

-8676000

638000

2797000

38124000

8000000

46124000

48738000

-24886000

86308000

-60592000

-105924000

-105094000

-54091000

-159185000

33000

-159218000

21600000

19800000

18900000

17200000

<div>The assets by segment and the reconciliation of total segment assets to the Total assets in the Condensed Consolidated Balance Sheets are summarized as follows: </div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:71.560%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.499%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">thousands</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">June 30, 2021</td><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#d8d8d8;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2020</td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Operating Assets</td><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,949,294 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,936,119 </td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Master Planned Communities</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,327,151 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,285,896 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Seaport</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">972,512 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">924,245 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Strategic Developments</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,212,919 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,132,231 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Total segment assets</td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,461,876 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,278,491 </td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Corporate</td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">847,193 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">861,841 </td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom">Total assets</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">9,309,069 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">9,140,332 </td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>

3949294000

3936119000

2327151000

2285896000

972512000

924245000

1212919000

1132231000

8461876000

8278491000

847193000

861841000

9309069000

9140332000

0.55 0.68 0.28 0.49 0.27 0.31 The amount for 2021 is shown net of deferred tax expense of $0.4 million for the three months ended June 30, 2021 and $0.7 million for the six months ended June 30, 2021. Amounts are shown net of deferred tax expense of $0.5 million for the three months ended June 30, 2021, deferred tax benefit of $0.3 million for the three months ended June 30, 2020, deferred tax expense of $2.3 million for the six months ended June 30, 2021, and deferred tax benefit of $7.4 million for the six months ended June 30, 2020. The three months ended June 30, 2021, excludes redeemable noncontrolling interest, which is reflected in temporary equity. See Note 2 - Real Estate and Other Affiliates. The six months ended June 30, 2021 excludes redeemable noncontrolling interest, which is reflected in temporary equity. See Note 2 - Real Estate and Other Affiliates.