Rental Income

12 Months Ended

Dec. 31, 2019

The Operating Partnership is the lessor and the sublessor to tenants under operating leases with expiration dates ranging from January 1, 2020 to 2052. The minimum rental amounts due under the leases are generally either subject to scheduled fixed increases or adjustments. The leases generally also require that the tenants reimburse us for increases in certain operating costs and real estate taxes above their base year costs. Approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases in effect at December 31, 2019 for the consolidated properties, including consolidated joint venture properties, and our share of unconsolidated joint venture properties are as follows (in thousands):



	Consolidated Properties		Unconsolidated Properties
2020	$	799,001	$	390,725
2021	651,815		397,524
2022	600,912		380,598
2023	536,835		354,621
2024	496,476		325,459
Thereafter	2,938,340		1,986,928
	$	6,023,379	$	3,835,855

As of December 31, 2018, under ASC 840, approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases for the consolidated properties, including consolidated joint venture properties, and our share of unconsolidated joint venture properties are as follows (in thousands):



	Consolidated Properties		Unconsolidated Properties
2019	$	830,336	$	348,060
2020	765,610		375,228
2021	625,956		380,886
2022	562,250		348,222
2023	500,499		333,501
Thereafter	3,272,014		2,098,995
	$	6,556,665	$	3,884,892

The components of lease revenues were as follows (in thousands):



	Twelve Months Ended December 31, 2019		Twelve Months Ended December 31, 2018
Fixed lease payments	$	858,587	$	858,160
Variable lease payments	120,496		113,596
Total lease payments	$	979,083	$	971,756
Amortization of acquired above and below-market leases	4,474		6,818
Total rental revenue	$	983,557	$	978,574