Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Ground Lease Arrangements

The table below summarizes our current ground lease arrangements as of December 31, 2019:

Property (1)	Year of Current Expiration	Year of Final Expiration (2)
1185 Avenue of the Americas	2043	2043
625 Madison Avenue	2022	2054
420 Lexington Avenue	2050	2080
711 Third Avenue (3)	2033	2083
461 Fifth Avenue (4)	2027	2084
1055 Washington Blvd, Stamford, Connecticut	2090	2090
1080 Amsterdam Avenue (5)	2111	2111
30 East 40th Street (5)	2114	2114
Other	Various	Various

(1) All leases are classified as operating leases unless otherwise specified.

(2) Reflects exercise of all available renewal options.

(3) The Company owns 50% of the fee interest.

(4) The Company has an option to purchase the ground lease for a fixed price on a specific date.

(5)

A portion of the lease is classified as a financing lease.

Finance lease, liability, maturity

The following is a schedule of future minimum lease payments under financing leases and operating leases with initial terms in excess of one year as of December 31, 2019 (in thousands):

	Financing leases			Operating leases (1)
2020	$	2,619		$	31,508
2021	2,794			31,702
2022	2,794			29,548
2023	2,794			27,243
2024	2,819			27,263
Thereafter	814,283			649,289
Total minimum lease payments	$	828,103		$	796,553
Amount representing interest	(783,655		)
Amount discounted using incremental borrowing rate				(414,882		)
Lease liabilities	$	44,448		$	381,671

(1)

As of December 31, 2019, the total minimum sublease rentals to be received in the future under non-cancelable subleases is $1.6 billion.

Schedule of future minimum rental payments for opeating leases

The following is a schedule of future minimum lease payments under financing leases and operating leases with initial terms in excess of one year as of December 31, 2019 (in thousands):

	Financing leases			Operating leases (1)
2020	$	2,619		$	31,508
2021	2,794			31,702
2022	2,794			29,548
2023	2,794			27,243
2024	2,819			27,263
Thereafter	814,283			649,289
Total minimum lease payments	$	828,103		$	796,553
Amount representing interest	(783,655		)
Amount discounted using incremental borrowing rate				(414,882		)
Lease liabilities	$	44,448		$	381,671

(1)

As of December 31, 2019, the total minimum sublease rentals to be received in the future under non-cancelable subleases is $1.6 billion.