XML 75 R47.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Leases (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Finance Lease, Liability, Maturity [Table Text Block]
Future minimum lease payments under non-cancellable leases as of the year ended December 31, 2019 where we are the lessee include:
Maturity of lease liabilities (in thousands)
 
 
 
 
 
 
Operating Leases
 
Finance Leases
 
Total
2020
$
2,397

 
$
120

 
$
2,517

2021
2,446

 
120

 
2,566

2022
2,483

 
120

 
2,603

2023
2,572

 
120

 
2,692

2024
2,868

 
4,060

 
6,928

Thereafter
32,277

 

 
32,277

Total lease payments
$
45,043

 
$
4,540

 
$
49,583

Less: Imputed interest
(20,821
)
 
(459
)
 
(21,280
)
Present value of lease liabilities
$
24,222

 
$
4,081

 
$
28,303


Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Future minimum lease payments under non-cancellable leases as of the year ended December 31, 2019 where we are the lessee include:
Maturity of lease liabilities (in thousands)
 
 
 
 
 
 
Operating Leases
 
Finance Leases
 
Total
2020
$
2,397

 
$
120

 
$
2,517

2021
2,446

 
120

 
2,566

2022
2,483

 
120

 
2,603

2023
2,572

 
120

 
2,692

2024
2,868

 
4,060

 
6,928

Thereafter
32,277

 

 
32,277

Total lease payments
$
45,043

 
$
4,540

 
$
49,583

Less: Imputed interest
(20,821
)
 
(459
)
 
(21,280
)
Present value of lease liabilities
$
24,222

 
$
4,081

 
$
28,303


Lease, Cost [Table Text Block]
ROU assets and lease liabilities for finance and operating leases as included in our Consolidated Financial Statements are as follows:
Lease asset and liabilities (in thousands)

 
 
 
 
 
 
 
 
 
 
Description
 
Financial Statement Classification
 
December 31, 2019
 
Description
 
Financial Statement Classification
 
December 31, 2018
Lease assets
 
 
 
 
 
 
 
 
 
 
Right-of-use asset obtained in exchange for new finance lease liabilities
 
Other asset, net
 
$
4,081

 
Capital lease asset
 
Land
 
$
4,098

Right-of-use asset obtained in exchange for new operating lease liabilities
 
Other asset, net
 
$
23,751

 
n/a
Right-of-use asset obtained relative to below market operating lease
 
Other asset, net
 
$
28,366

 
Below market Lease intangible asset
 
Other Asset, net
 
$
29,118

Lease liabilities
 
 
 
 
 
 
 
 
 
 
Finance lease liabilities
 
Other liabilities
 
$
4,081

 
Capital lease liabilities
 
Other Liabilities
 
$
4,098

Operating lease liabilities
 
Other liabilities
 
$
24,222

 
n/a

Lease expense for finance and operating leases as included in our Consolidated Financial Statements are as follows:
Lease expense (in thousands)

 
Year Ended
 
 
 
 
December 31,
Description
 
Financial Statement Classification
 
2019
Finance lease expense
 
 
 
 
Amortization of right-of-use assets
 
Interest expense
 
$
17

Interest on lease liabilities
 
Interest expense
 
103

Operating lease cost
 
General and administrative expense, Property operating and maintenance
 
3,474

Variable lease cost
 
Property operating and maintenance
 
1,584

Total lease expense
 
 
 
$
5,178

 
 
Year Ended
Description
 
Financial Statement Classification
 
December 31, 2018
 
December 31, 2017
Capital lease expense
 
 
 
 
 
 
Amortization of lease
 
Interest expense
 
$
16

 
$

Interest on lease liabilities
 
Interest expense
 
104

 

Operating lease expense
 
General and administrative expense, Property operating and maintenance
 
3,310

 
3,303

Below market ground lease amortization expense
 
Property operating and maintenance
 
821

 
1,017

Total lease expense
 
 
 
$
4,251

 
$
4,320