Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Ground Lease Arrangements

The table below summarizes our current ground lease arrangements as of March 31, 2020:

Property (1)	Year of Current Expiration	Year of Final Expiration (2)
1185 Avenue of the Americas	2043	2043
625 Madison Avenue	2022	2054
420 Lexington Avenue	2050	2080
711 Third Avenue (3)	2033	2083
461 Fifth Avenue (4)	2027	2084
1055 Washington Blvd, Stamford, Connecticut	2090	2090
1080 Amsterdam Avenue (5)	2111	2111
30 East 40th Street (5)	2114	2114
126 Nassau Street (4)	2119	2119
Other	Various	Various

(1) All leases are classified as operating leases unless otherwise specified.

(2) Reflects exercise of all available renewal options.

(3) The Company owns 50% of the fee interest.

(4) The Company has an option to purchase the ground lease for a fixed price on a specific date. The lease is classified as a financing lease.

(5)

A portion of the lease is classified as a financing lease.

Finance lease, liability, maturity

The following is a schedule of future minimum lease payments as evaluated in accordance with ASC 842 for our financing leases and operating leases with initial terms in excess of one year as of March 31, 2020 (in thousands):

	Financing leases			Operating leases (1)
Remaining 2020	$	5,812		$	22,077
2021	34,885			29,452
2022	5,881			27,148
2023	5,927			24,844
2024	5,999			24,863
2025	6,266			24,962
Thereafter	1,018,013			618,326
Total minimum lease payments	$	1,082,783		$	771,672
Amount representing interest	(920,484		)
Amount discounted using incremental borrowing rate				(407,682		)
Lease liabilities	$	162,299		$	363,990

(1) As of March 31, 2020, the total minimum sublease rentals to be received in the future under non-cancelable subleases is $1.6 billion.

Schedule of future minimum rental payments for operating leases

The following is a schedule of future minimum lease payments as evaluated in accordance with ASC 842 for our financing leases and operating leases with initial terms in excess of one year as of March 31, 2020 (in thousands):

	Financing leases			Operating leases (1)
Remaining 2020	$	5,812		$	22,077
2021	34,885			29,452
2022	5,881			27,148
2023	5,927			24,844
2024	5,999			24,863
2025	6,266			24,962
Thereafter	1,018,013			618,326
Total minimum lease payments	$	1,082,783		$	771,672
Amount representing interest	(920,484		)
Amount discounted using incremental borrowing rate				(407,682		)
Lease liabilities	$	162,299		$	363,990

(1) As of March 31, 2020, the total minimum sublease rentals to be received in the future under non-cancelable subleases is $1.6 billion.