ACCOUNTING POLICIES AND PRONOUNCEMENTS (Tables)

3 Months Ended

Mar. 31, 2019

The Company’s leased assets and liabilities are as follows:



(In thousands)	March 31, 2019
Assets
Operating lease right-of-use assets	$	72,105
Total leased assets	$	72,105

Liabilities
Operating lease liabilities	$	71,888
Total leased liabilities	$	71,888

Lease Cost

The components of lease expense are as follows:



(In thousands)	Three Months Ended
Lease Cost	March 31, 2019
Operating lease cost	$	2,365
Variable lease costs	82
Sublease income	—
Net lease cost	$	2,447

Other information related to the Company’s lessee agreements is as follows:



(In thousands)	Three Months Ended
Supplemental Condensed Consolidated Statements of Cash Flows Information	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,495



Other Information	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	36.8
Weighted-average discount rate
Operating leases	7.7	%

The Company receives rental income from the leasing of retail, office, multi-family and other space under operating leases, as well as certain variable tenant recoveries. Such operating leases are with a variety of tenants and have a remaining average term of approximately five years. Lease terms generally vary among tenants and may include early termination options, extension options and fixed rental rate increases or rental rate increases based on an index. The minimum rentals based on operating leases of the consolidated properties held as of March 31, 2019 are as follows:



	Three Months Ended
(In thousands)	March 31, 2019
Total Minimum Rent Payments	$	52,854

Operating Lease Liability Maturity

Future minimum lease payments as of March 31, 2019 are as follows:



(In thousands)	Operating
Year Ended December 31,	Leases
2019 (excluding the three months ended March 31, 2019)	$	5,174
2020	7,272
2021	7,111
2022	6,373
2023	6,389
Thereafter	273,287
Total lease payments	305,606
Less: imputed interest	(233,718		)
Present value of lease liabilities	$	71,888

Schedule of Minimum Rent Payments

The minimum rentals based on operating leases of the consolidated properties held as of March 31, 2019 are as follows:



	Three Months Ended
(In thousands)	March 31, 2019
Total Minimum Rent Payments	$	52,854

Total future minimum rents associated with operating leases are as follows:



	Total
	Minimum
Year Ending December 31,	Rent
	(In thousands)
2019 (excluding the three months ended March 31, 2019)	$	133,675
2020	187,566
2021	201,353
2022	209,225
2023	188,926
Thereafter	1,194,101
Total	$	2,114,846