Lessor, Leases Lessor, Leases (Notes)

12 Months Ended

Dec. 28, 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 from tenants recognized on a straight-line basis over the applicable lease term. Variable lease income represents tenant payments for real estate taxes, insurance, maintenance and, for certain locations, excess rent.

Total lease income was $190,785,000, $183,963,000 and $158,121,000 for 2019, 2018 and 2017, respectively. Total lease income for 2019 was as follows:

	2019
	(Amounts are in thousands)
Lease income		$	149,313
Variable lease income		41,472
		$	190,785

Future fixed lease payments for all noncancelable operating leases as of December 28, 2019 are as follows:

Year
(Amounts are in thousands)
2020	$	146,201
2021	120,281
2022	94,365
2023	70,620
2024	44,703
Thereafter	169,422
	$	645,592