Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases

Summary of lease income

The following table includes information regarding the Company’s operating leases for which it is the lessor, for the three and nine months ended September 30, 2019 and as of period end. (presented in thousands)

	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Total Lease Payments	$	49,463	$	140,071
Less: Variable Lease Payments		4,868		15,167
Total Non-Variable Lease Payments	$	44,595	$	124,904

Summary of lease income to be received

	2019
Year Ending December 31,	(remaining)		2020		2021		2022		2023		Thereafter		Total
Future Lease Payments	$	47,544	$	189,758	$	186,964	$	183,583	$	179,542	$	1,228,924	$	2,016,315

Summary of lease costs

The following tables include information on the Company’s land leases for which it is the lessee, for the three and nine months ended September 30, 2019 and as of period end. (presented in thousands)

	Three Months Ended			Nine Months Ended
	September 30, 2019			September 30, 2019
Operating Lease Costs	$	354		$	925
Variable Lease Costs		—			—
Total Non-Variable Lease Costs	$	354		$	925
Supplemental Disclosure
Right-of-use assets obtained in exchange for new operating lease liabilities	$	—		$	19,672
Right-of-use assets removed in exchange for real property		(3,025)			(3,025)
Right-of-use assets net change	$	(3,025)		$	16,647
Operating cash outflows on operating leases	$	297		$	805
Weighted-average remaining lease term - operating leases (years)		38.3			38.3
Weighted-average discount rate - operating leases		4.13	%		4.13	%

Summary of maturity analysis of lease liabilities

Maturity Analysis of Lease Liabilities (presented in thousands)

	2019
Year Ending December 31,	(remaining)		2020		2021		2022		2023		Thereafter		Total
Lease Payments	$	267	$	1,069	$	1,015	$	789	$	789	$	31,373	$	35,302
Imputed Interest		(168)		(662)		(645)		(634)		(628)		(16,255)		(18,992)
Total Lease Liabilities	$	99	$	407	$	370	$	155	$	161	$	15,118	$	16,310