v3.25.2
Share-Based Compensation - Summary (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Feb. 12, 2025
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Restricted Stock Awards          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Share-based compensation cost   $ 2,276 $ 2,089 $ 4,402 $ 4,077
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]          
Unvested, beginning of period (shares)       490,864  
Granted (shares)       132,466  
Vested (shares)       (143,680)  
Unvested, end of period (shares)   479,650   479,650  
Weighted-Average Grant Date Fair Value          
Weighted average grant-date fair value, unvested, beginning of period (USD per share)       $ 26.08  
Weighted average grant-date fair value, granted (USD per share)       30.85  
Weighted average grant-date fair value, vested (USD per share)       25  
Weighted average grant-date fair value, unvested, ending of period (USD per share)   $ 27.72   $ 27.72  
Unrecognized compensation cost related to nonvested stock awards   $ 8,909   $ 8,909  
Compensation cost to be recognized over a weighted-average period       1 year 7 months 6 days  
Weighted average grant-date fair value, granted       $ 4,087  
Total fair value of shares vested       $ 4,495  
Granted (shares)       132,466  
weighted-average grant date fair value   $ 27.72   $ 27.72  
Share-based compensation cost capitalized as part of real estate assets   $ 32 35 $ 62 59
Performance Stock Unit Awards          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Share-based compensation cost   $ 1,981 $ 1,441 $ 3,815 $ 3,108
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]          
Unvested, beginning of period (shares)       571,287  
Granted (shares)       130,312  
Unvested, end of period (shares)   745,375   745,375  
Weighted-Average Grant Date Fair Value          
Weighted average grant-date fair value, unvested, beginning of period (USD per share)       $ 28.48  
Weighted average grant-date fair value, granted (USD per share)       35.57  
Weighted average grant-date fair value, unvested, ending of period (USD per share) $ 35.57 [1] $ 29.57   $ 29.57  
Unrecognized compensation cost related to nonvested stock awards   $ 11,254   $ 11,254  
Compensation cost to be recognized over a weighted-average period       2 years 3 months 18 days  
Weighted average grant-date fair value, granted       $ 4,635  
Performance period 3 years        
Granted (shares)       130,312  
Incremental granted (shares) [2]       43,776  
Weighted average incremental grant-date fair value, granted (USD per share) [2]       25.93  
weighted-average grant date fair value $ 35.57 [1] $ 29.57   $ 29.57  
Risk-free interest rate (as a percent) [3] 4.40%        
Expected share price volatility (as a percent) [4] 32.00%        
Performance Stock Unit Awards | Chief Executive Officer          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]          
Granted (shares) 39,094        
Weighted-Average Grant Date Fair Value          
Weighted average grant-date fair value, unvested, ending of period (USD per share) $ 42.5        
Granted (shares) 39,094        
weighted-average grant date fair value $ 42.5        
Performance Stock Unit Awards | Officer          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]          
Granted (shares) 91,218        
Weighted-Average Grant Date Fair Value          
Weighted average grant-date fair value, unvested, ending of period (USD per share) $ 32.6        
Granted (shares) 91,218        
weighted-average grant date fair value $ 32.6        
[1] The value of the 2025 PSU awards is estimated on the date of grant using a Monte Carlo simulation model. The valuation consists of computing the fair value using CBL's simulated stock price as well as TSR over a three-year performance period. The award is modeled as a contingent claim in that the expected return on the underlying shares is risk-free and the rate of discounting the pay off of the award is also risk-free. The weighted-average fair value per share related to the 2025 PSUs consists of 39,094 PSUs at a fair value of $42.50 per share (which relates to the relative TSR) and 91,218 PSUs at a fair value of $32.60 per share (which relates to absolute TSR).
[2] PSUs granted shall be adjusted as if the shares of common stock represented by such PSUs had received any applicable stock or cash dividends declared. For stock dividends, a number of PSUs shall be added to the target amount corresponding to the number of shares of common stock that would have been payable per such stock dividend on the then outstanding number of PSUs under the agreement as if common stock had been issued for such PSUs. For cash dividends, a number of PSUs shall be added to the target amount corresponding to the number of shares of common stock that could have been acquired by the cash dividend payable on the then outstanding number of PSUs under the agreement as if common stock had been issued for such PSUs, and the calculation of the number of shares of common stock that could have been acquired shall be based on the closing price of the common stock on the record date for the cash dividend at issue.
[3] The risk-free interest rate was based on the yield curve on zero-coupon U.S. Treasury securities in effect as of the valuation date, which is the grant date listed above.
[4] The computation of expected volatility for the 2025 PSUs was based on the historical volatility of CBL's shares of common stock for a trading period equal to the time from the grant date to the end of the performance period.