Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Operating Lease, Lease Income

The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842:

(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Operating lease income
Fixed and in-substance fixed lease income	$	851,409		797,502		807,603
Variable lease income		287,149		262,619		247,384
Other lease related income, net:
Above/below market rent and tenant rent inducement amortization, net		22,543		24,539		42,219
Uncollectible straight-line rent (1)		12,510		5,227		(34,673	)
Uncollectible amounts billable in lease income (1)		13,841		23,481		(82,367	)
Total lease income	$	1,187,452		1,113,368		980,166

(1)During the years ended December 31, 2022 and 2021, the Company had improved rent collections following lifting of pandemic-related restrictions which resulted in more favorable income than experienced in 2020 during the height of the pandemic.

Lessor, Operating Lease, Payments to be Received, Maturity

Future minimum rents under non-cancelable operating leases, excluding variable lease payments, are as follows:

(in thousands)
For the year ended December 31,	December 31, 2022
2023	$	850,211
2024		768,797
2025		657,870
2026		552,735
2027		440,844
Thereafter		1,579,740
Total	$	4,850,197

Lessee, Operating Lease Costs, Description

Operating lease expense under the Company's ground and office leases was as follows, including straight-line rent expense and variable lease expenses such as CPI increases, percentage rent and reimbursements of landlord costs:

(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Fixed operating lease expense
Ground leases	$	13,759		13,862		13,716
Office leases		4,162		4,309		4,334
Total fixed operating lease expense		17,921		18,171		18,050
Variable lease expense
Ground leases		1,591		1,032		1,044
Office leases		611		615		585
Total variable lease expense		2,202		1,647		1,629
Total lease expense	$	20,123		19,818		19,679
Cash paid for amounts included in the measurement of operating lease liabilities
Operating cash flows for operating leases	$	14,656		15,165		15,003

Lessee, Operating Lease, Liability, Maturity

The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities for ground and office leases as of December 31, 2022, and provides a reconciliation to the Lease liability included in the accompanying Consolidated Balance Sheets:

(in thousands)	Lease Liabilities
For the year ended December 31,	Ground Leases			Office Leases			Total
2023	$	10,750			4,046			14,796
2024		10,799			3,082			13,881
2025		10,801			2,880			13,681
2026		10,722			2,715			13,437
2027		10,722			1,517			12,239
Thereafter		516,564			741			517,305
Total undiscounted lease liabilities	$	570,358			14,981			585,339
Present value discount		(370,486	)		(1,131	)		(371,617	)
Lease liabilities	$	199,872			13,850			213,722
Weighted average discount rate		5.2	%		3.6	%
Weighted average remaining term (in years)		46.8			4.4