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Leases (Tables)

9 Months Ended

Sep. 30, 2019

Lessee - Lease Costs

Lease costs consisted of the following for the three and nine months ended September 30, 2019 (in thousands):



	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Operating lease cost	$	3,221	$	9,342
Variable lease cost	517		1,231
Total lease cost	$	3,738	$	10,573

Lessee - Lease Term and Discount Rates

The following is the weighted average remaining lease term and the weighted average discount rate for our operating leases as of September 30, 2019 (weighted average remaining lease term in years):



	September 30, 2019
Weighted-average remaining lease term	47.7
Weighted-average discount rate	5.3	%

Summary of lease repayments of operating lease liabilities

The following table summarizes the future minimum lease obligations of our operating leases as of September 30, 2019 under Topic 842 (in thousands):



Year	Amount
2019	$	2,507
2020	10,160
2021	10,283
2022	10,440
2023	10,600
2024	10,263
Thereafter	624,145
Total undiscounted lease payments	$	678,398
Less: Interest	(477,453		)
Present value of lease liabilities	$	200,945

Schedule of future minimum rental payments for operating leases

As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, Topic 840, the following table summarizes the future minimum lease obligations of our operating leases as of December 31, 2018 (in thousands):



Year	Amount
2019	$	10,309
2020	10,408
2021	9,877
2022	10,031
2023	10,132
Thereafter	639,234
Total	$	689,991

Schedule of undiscounted cash flows for future minimum rents

The following table summarizes the future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of September 30, 2019 under Topic 842 (in thousands):



Year	Amount
2019	$	122,688
2020	493,571
2021	444,676
2022	391,467
2023	340,671
2024	295,613
Thereafter	1,144,912
Total	$	3,233,598

As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, Topic 840, the following table summarizes the future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of December 31, 2018 (in thousands):



Year	Amount
2019	$	497,083
2020	448,956
2021	401,871
2022	341,889
2023	294,451
Thereafter	1,244,246
Total	$	3,228,496