Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases

Summary of lease income

The following table includes information regarding contractual lease payments for the Company’s operating leases for which it is the lessor, for the three and nine months ended September 30, 2022 and 2021 (presented in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Total lease payments	$	115,567	$	91,205	$	328,991	$	256,246
Less: Operating cost reimbursements and percentage rents		12,012		9,546		35,696		27,090
Total non-variable lease payments	$	103,555	$	81,659	$	293,295	$	229,156

Summary of lease income to be received

At September 30, 2022, future non-variable lease payments to be received from the Company’s operating leases for the remainder of 2022, the following four years, and thereafter are as follows (presented in thousands):

	2022
Year Ending December 31,	(remaining)		2023		2024		2025		2026		Thereafter		Total
Future non-variable lease payments	$	110,120	$	445,758	$	436,992	$	426,435	$	406,381	$	2,328,705	$	4,154,391

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, 2022 and 2021. (presented in thousands)

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Operating leases:
Operating cash outflows	$	299	$	282	$	898	$	816
Weighted-average remaining lease term - operating leases (years)		33.6		33.9		33.6		33.9
Finance leases:
Operating cash outflows	$	64	$	64	$	192	$	151
Financing cash outflows	$	20	$	19	$	60	$	73
Weighted-average remaining lease term - finance leases (years)		2.0		3.0		2.0		3.0
Supplemental Disclosure:
Right-of-use assets obtained in exchange for new lease liabilities, including value assigned to above market lease terms	$	1,816	$	—	$	1,816	$	6,302
Right-of-use assets net change	$	1,816	$	—	$	1,816	$	6,302

Summary of maturity analysis of operating lease liabilities

Maturity Analysis of Lease Liabilities for Operating Leases (presented in thousands)

	2022
Year Ending December 31,	(remaining)		2023		2024		2025		2026		Thereafter		Total
Lease payments	$	299	$	1,197	$	1,197	$	1,197	$	1,195	$	29,851	$	34,936
Imputed interest		(180)		(711)		(690)		(669)		(647)		(14,491)		(17,388)
Total lease liabilities	$	119	$	486	$	507	$	528	$	548	$	15,360	$	17,548

Summary of maturity analysis of finance lease liabilities

Maturity Analysis of Lease Liabilities for Finance Leases (presented in thousands)

	2022
Year Ending December 31,	(remaining)		2023		2024		2025		2026		Thereafter		Total
Lease payments	$	84	$	336	$	6,252	$	—	$	—	$	—	$	6,672
Imputed interest		(63)		(252)		(207)		—		—		—		(522)
Total lease liabilities	$	21	$	84	$	6,045	$	—	$	—	$	—	$	6,150