Leasing Operations

12 Months Ended

Dec. 31, 2013

The terms of our leases range from less than one year for smaller tenant spaces to over 25 years for larger tenant spaces. In addition to minimum lease payments, most of the leases provide for contingent rentals (payments for real estate taxes, maintenance and insurance by lessees and an amount based on a percentage of the tenants’ sales).

Future minimum rental income from non-cancelable tenant leases, which does not include estimated contingent rentals, at December 31, 2013 is as follows (in thousands):



2014	$	376,402
2015	330,099
2016	273,759
2017	214,766
2018	161,000
Thereafter	588,938
Total	$	1,944,964

Contingent rentals for the year ended December 31, are as follows (in thousands):



2013	$	112,551
2012	112,431
2011	112,414

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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