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Property and equipment (Tables)
3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
The balance of property and equipment, net is as follows ($ in thousands):
As of March 31,As of December 31,
20212020
Property and equipment, gross
Land, buildings and improvements$1,755,739 $1,863,406 
Fixtures and machinery (1)
79,707 83,802 
Furniture and other fixed assets204,046 225,869 
Construction in progress4,853 4,552 
Total property and equipment, gross2,044,345 2,177,629 
Accumulated depreciation(414,339)(450,246)
Total property and equipment, net$1,630,006 $1,727,383 
________
(1) Includes the gross balance of our financing lease right-of-use asset, which was $2.3 million as of March 31, 2021 and December 31, 2020 (see Note 11).
Schedule of Rental Income The following table presents our rental income for the three months ended March 31, 2021 and 2020 ($ in thousands):
Three Months Ended March 31,
Leases20212020
Operating lease income (1)
$606 $1,146 
________
(1) Our operating lease income, which is recorded within non-package revenue in the Condensed Consolidated Statements of Operations, includes variable lease revenue which is typically calculated as a percentage of our tenant's net sales.