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ACCOUNTING POLICIES AND PRONOUNCEMENTS (Tables)

9 Months Ended

Sep. 30, 2019

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



(In thousands)	Nine Months Ended
Supplemental Condensed Consolidated Statements of Cash Flows Information	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows on operating leases	$	4,971



Other Information	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	36.9
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 four 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 September 30, 2019 are as follows:



	Three Months Ended		Nine Months Ended
(In thousands)	September 30, 2019		September 30, 2019
Total Minimum Rent Payments	$	55,257	$	161,847

The components of lease expense are as follows:



(In thousands)	Three Months Ended		Nine Months Ended
Lease Cost	September 30, 2019		September 30, 2019
Operating lease cost	$	2,204	$	6,881
Variable lease costs	904		1,470
Sublease income	—		—
Net lease cost	$	3,108	$	8,351

Operating lease liability maturity

Future minimum lease payments as of September 30, 2019 are as follows:



(In thousands)	Operating
Year Ended December 31,	Leases
2019 (excluding the nine months ended September 30, 2019)	$	1,698
2020	7,272
2021	7,111
2022	6,373
2023	6,389
Thereafter	273,287
Total lease payments	302,130
Less: imputed interest	(230,940		)
Present value of lease liabilities	$	71,190

Schedule of minimum rent payments

The minimum rentals based on operating leases of the consolidated properties held as of September 30, 2019 are as follows:



	Three Months Ended		Nine Months Ended
(In thousands)	September 30, 2019		September 30, 2019
Total Minimum Rent Payments	$	55,257	$	161,847

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



	Total
	Minimum
Year Ending December 31,	Rent
	(In thousands)
2019 (excluding the nine months ended September 30, 2019)	$	46,483
2020	192,170
2021	204,694
2022	213,358
2023	199,725
Thereafter	1,284,965
Total	$	2,141,395

Selling profit and interest income from sales-type leases

The Company recognized Selling profit from sales-type leases and Interest income from sales-type leases in its Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019 as follows:



	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Selling profit from sales-type leases	$	13,537	$	13,537
Interest income from sales-type leases	$	1,088	$	1,088

Minimum rents associated with sales-type leases

Total future minimum rents associated with sales-type leases are as follows:



	Total
	Minimum
Year Ending December 31,	Rent
	(In thousands)
2019 (excluding the nine months ended September 30, 2019)	$	1,016
2020	5,427
2021	5,557
2022	5,690
2023	5,827
Thereafter	109,747
Total	$	133,264