Leases (Tables)

12 Months Ended

Dec. 31, 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 years ended December 31, 2022, 2021 and 2020 (presented in thousands).

	For the Year Ended December 31,
	2022		2021		2020
Total lease payments	$	450,369	$	352,797	$	257,390
Less: Operating cost reimbursements and percentage rents		47,962		36,929		28,248
Total non-variable lease payments	$	402,407	$	315,868	$	229,142

Summary of lease income to be received

At December 31, 2022, future non-variable lease payments to be received from the Company’s operating leases for the next five years and thereafter are as follows (presented in thousands):

Year Ending December 31,	2023		2024		2025		2026		2027		Thereafter		Total
Future non-variable lease payments	$	468,723	$	463,245	$	452,755	$	433,725	$	409,563	$	2,113,349	$	4,341,360

Summary of lease costs

The following tables include information on the Company’s land leases for which it is the lessee, for the years ending December 31, 2022, 2021, and 2020 (presented in thousands).

	Year Ended
	December 31, 2022		December 31, 2021		December 31, 2020
Operating leases:
Operating cash outflows	$	1,197	$	1,112	$	1,069
Weighted-average remaining lease term - operating leases (years)		33.5		33.8		38.3
Finance leases:
Operating cash outflows	$	255	$	215	$	—
Financing cash outflows	$	81	$	93	$	—
Weighted-average remaining lease term - finance leases (years)		1.8		2.8		—
Supplemental Disclosure:
Right-of-use assets obtained in exchange for new lease liabilities, including value assigned to above market lease terms	$	1,816	$	6,302	$	1,064
Right-of-use assets net change	$	1,816	$	6,302	$	1,064

Summary of maturity analysis of operating lease liabilities

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

Year Ending December 31,	2023		2024		2025		2026		2027		Thereafter		Total
Lease payments	$	1,197	$	1,197	$	1,197	$	1,195	$	1,042	$	28,809	$	34,637
Imputed interest		(711)		(690)		(669)		(647)		(627)		(13,864)		(17,208)
Total lease liabilities	$	486	$	507	$	528	$	548	$	415	$	14,945	$	17,429

Summary of maturity analysis of finance lease liabilities

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

Year Ending December 31,	2023		2024		2025		2026		2027		Thereafter		Total
Lease payments	$	336	$	6,251	$	—	$	—	$	—	$	—	$	6,587

Imputed interest		(252)		(207)		—		—		—		—		(459)
Total lease liabilities	$	84	$	6,044	$	—	$	—	$	—	$	—	$	6,128