Leases (Tables)

9 Months Ended

Sep. 30, 2020

Lease income related to the Company’s operating leases is comprised of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Lease income related to fixed and variable lease payments
Base rent (a) (b)	$	83,871	$	89,754	$	264,974	$	267,823
Percentage and specialty rent (c)	488		610		1,812		2,612
Tenant recoveries (b) (c)	26,429		26,323		75,994		79,029
Lease termination fee income (c)	223		331		599		1,751
Other lease-related income (c)	1,232		1,560		3,781		4,446
Straight-line rental income, net (d)	(269)		581		(1,212)		2,697
Other
Uncollectible lease income, net (e)	(5,039)		(569)		(25,415)		(1,046)
Amortization of above and below market lease intangibles and lease inducements	423		1,127		2,323		3,557
Lease income	$	107,358	$	119,717	$	322,856	$	360,869

(a)Base rent primarily consists of fixed lease payments; however, it is partially offset by adjustments of $6,051 and $6,102 for the three and nine months ended September 30, 2020, respectively, related to executed lease concessions granted as relief due to COVID-19 and treated as negative variable lease adjustments to base rent in accordance with the Company’s policy elections related to the accounting treatment of such lease concessions.

(b)Base rent and tenant recoveries for the three and nine months ended September 30, 2020 are presented gross of any uncollected amounts related to cash-basis tenants. Such uncollected amounts are reflected within “Uncollectible lease income, net.”

(c)Represents lease income related to variable lease payments.

(d)Represents lease income related to fixed lease payments. Straight-line rental income, net includes changes in allowances for doubtful straight-line receivables of $(3,089) and $(710) for the three months ended September 30, 2020 and 2019, respectively, and $(5,760) and $(1,524) for the nine months ended September 30, 2020 and 2019, respectively.

(e)Uncollectible lease income, net is comprised of (i) uncollected amounts related to tenants being accounted for on the cash basis of accounting of $3,869 and $11,938 for the three and nine months ended September 30, 2020, respectively, (ii) a reserve, which includes the estimated impact for lease concession agreements that have not yet been executed of $4,517 for the three and nine months ended September 30, 2020, and other general reserve amounts, and (iii) the reclassification of amounts related to lease concession agreements that were executed during the current period and treated as negative variable lease adjustments, however were agreed in principle in the prior quarter of $(4,381) for the three months ended September 30, 2020.