XML 49 R35.htm IDEA: XBRL DOCUMENT v3.23.3
Lease Income
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Lease Income Lease Income
The Operating Partnership is the lessor and the sublessor to tenants under operating and sales-type leases. The minimum rental amounts due under the leases are generally 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.
The components of lease income from operating leases during the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Fixed lease payments$131,664 $142,778 $457,454 $416,033 
Variable lease payments19,467 19,990 60,211 58,283 
Total lease payments (1)
$151,131 $162,768 $517,665 $474,316 
Amortization of acquired above and below-market leases(140)184 14,313 (101)
Total rental revenue$150,991 $162,952 $531,978 $474,215 
(1)Amounts include $49.7 million and $147.4 million of sublease income during the three and nine months ended September 30, 2023 and $55.7 million and $169.9 million of sublease income during the three and nine months ended September 30, 2022, respectively.
The components of lease income from sales-type leases during the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Interest income (1)
$1,113 $1,099 $3,328 $3,286 
(1)These amounts are included in Other income in our consolidated statements of operations.
Lease Income Lease Income
The Operating Partnership is the lessor and the sublessor to tenants under operating and sales-type leases. The minimum rental amounts due under the leases are generally 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.
The components of lease income from operating leases during the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Fixed lease payments$131,664 $142,778 $457,454 $416,033 
Variable lease payments19,467 19,990 60,211 58,283 
Total lease payments (1)
$151,131 $162,768 $517,665 $474,316 
Amortization of acquired above and below-market leases(140)184 14,313 (101)
Total rental revenue$150,991 $162,952 $531,978 $474,215 
(1)Amounts include $49.7 million and $147.4 million of sublease income during the three and nine months ended September 30, 2023 and $55.7 million and $169.9 million of sublease income during the three and nine months ended September 30, 2022, respectively.
The components of lease income from sales-type leases during the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Interest income (1)
$1,113 $1,099 $3,328 $3,286 
(1)These amounts are included in Other income in our consolidated statements of operations.