Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Summary of leased assets and liabilities

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

thousands	September 30, 2020
Assets
Operating lease right-of-use assets		$	67,322
Riverwalk impairment		(10,235		)
Total leased assets		$	57,087
Liabilities
Operating lease liabilities		$	69,246
Total leased liabilities		$	69,246

Components of lease expense and other information

The components of lease expense are as follows:

thousands	Three Months Ended			Nine Months Ended
Lease cost	September 30, 2020			September 30, 2020
Operating lease cost		$	2,181		$	6,539
Variable lease costs		382			672
Net lease cost		$	2,563		$	7,211

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

thousands	Nine Months Ended
Supplemental Condensed Consolidated Statements of Cash Flows Information	September 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows on operating leases		$	5,566

Other Information	September 30, 2020
Weighted-average remaining lease term (years)
Operating leases	37.1
Weighted-average discount rate
Operating leases	7.8	%

Schedule of future minimum lease payments

Future minimum lease payments as of September 30, 2020, are as follows:

	Operating
thousands	Leases
2020 (excluding the nine months ended September 30, 2020)	$	1,339
2021	7,184
2022	6,507
2023	6,464
2024	6,432
Thereafter	266,852
Total lease payments	294,778
Less: imputed interest	(225,532		)
Present value of lease liabilities	$	69,246

Schedule of minimum rentals

The minimum rentals based on operating leases of the consolidated properties held as of September 30, 2020, are as follows:

	Three Months Ended			Nine Months Ended
thousands	September 30, 2020			September 30, 2020
Total minimum rent payments		$	51,104		$	164,317

Total future minimum rents associated with operating leases are as follows as of September 30, 2020:

	Total
thousands	Minimum Rent
Remainder of 2020	$	56,261
2021	230,029
2022	243,260
2023	233,321
2024	228,531
Thereafter	1,459,096
Total	$	2,450,498