Lessor, Lease Lessor, Lease (Notes)

6 Months Ended

Jun. 29, 2019

Lessor Disclosure [Abstract]

Lessor, Operating Leases [Text Block]

(b) Lessor

The Company leases space in owned shopping centers to tenants under noncancelable operating leases. The Company determines whether a lease exists at inception. Initial lease terms are typically five years followed by five year renewal options and may include rent escalation clauses. Lease income primarily represents fixed lease payments received from tenants recognized on a straight-line basis over the applicable lease term. Variable lease income represents the receipt of real estate taxes, insurance, maintenance and, for certain locations, excess rent.

Total lease income for the three and six months ended June 29, 2019 was as follows:

	Three Months Ended			Six Months Ended
	June 29, 2019			June 29, 2019
	(Amounts are in thousands)
Lease income		$	37,490		73,407
Variable lease income		11,325			21,200
		$	48,815		94,607

Fixed lease payments to be received for all noncancelable operating leases as of June 29, 2019 are as follows:

Year
(Amounts are in thousands)
2019	$	75,831
2020	132,931
2021	106,398
2022	80,482
2023	58,145
Thereafter	193,531
	$	647,318