LEASES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Rental Revenue | The components of rental revenue for the years ended December 31, 2020 and 2019 were as follows:
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Schedule of Maturity Analysis of Operating Lease Payments to be Received as Lessor | The Company’s operating leases, including those with revenue recognized on a cash basis, are disclosed in the aggregate due to their consistent nature as real estate leases. As of December 31, 2020, the undiscounted cash flows to be received from lease payments of our operating leases on an annual basis for the next five years and thereafter are as follows:
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Schedule of Components of Lease Expense and Supplemental Cash Information Related to Leases | The components of lease expense for the years ended December 31, 2020 and 2019 were as follows:
(1) During the years ended December 31, 2020 and 2019, the Company recognized sublease income of $17.7 million and $19.7 million, respectively, included in rental revenue on the consolidated statement of income in relation to certain ground and building lease arrangements. Operating lease cost includes amortization of below-market ground lease intangibles and straight-line lease expense. Supplemental cash information related to leases for the years ended December 31, 2020 and 2019 was as follows:
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Schedule of Supplemental Noncash Information Related to Operating Leases | Supplemental balance sheet information related to leases as of December 31, 2020 and December 31, 2019 was as follows:
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Schedule of Supplemental Noncash Information Related to Finance Leases | Supplemental balance sheet information related to leases as of December 31, 2020 and December 31, 2019 was as follows:
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Schedule of Maturity Analysis of Operating Lease Payments as Lessee | The undiscounted cash flows to be paid on an annual basis for the next five years and thereafter are presented in the table below. The total amount of lease payments, on an undiscounted basis, are reconciled to the lease liability on the consolidated balance sheet by considering the present value discount.
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Schedule of Maturity Analysis of Finance Lease Payments as Lessee | The undiscounted cash flows to be paid on an annual basis for the next five years and thereafter are presented in the table below. The total amount of lease payments, on an undiscounted basis, are reconciled to the lease liability on the consolidated balance sheet by considering the present value discount.
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