Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease Costs

Lease costs consisted of the following for the year ended December 31, 2019 (in thousands):

	Year Ended December 31, 2019
Operating lease cost	$	12,529
Variable lease cost	1,483
Finance lease cost:
Amortization of right of use assets	8
Interest on lease liabilities	25
Total lease cost	$	14,045

Lessee - Lease Term and Discount Rates

The following is the weighted average remaining lease term and the weighted average discount rate for our operating and finance leases as of December 31, 2019 (weighted average remaining lease term in years):

	December 31, 2019
Operating leases:
Weighted-average remaining lease term	47.3
Weighted-average discount rate	5.3	%
Finance leases:
Weighted-average remaining lease term	50.0
Weighted-average discount rate	4.4	%

Summary of Lease Repayments of Operating Lease Liabilities

The following table summarizes the future minimum lease obligations of our operating and finance leases as of December 31, 2019 under Topic 842 (in thousands):

Year	Operating leases			Finance leases
2020	$	10,308		$	125
2021	10,440			125
2022	10,630			125
2023	10,763			125
2024	9,948			126
Thereafter	622,618			9,281
Total undiscounted lease payments	$	674,707		$	9,907
Less: Interest	(476,057		)	(6,488		)
Present value of lease liabilities	$	198,650		$	3,419

Summary of Lease Repayments of Finance Lease Liabilities

The following table summarizes the future minimum lease obligations of our operating and finance leases as of December 31, 2019 under Topic 842 (in thousands):

Year	Operating leases			Finance leases
2020	$	10,308		$	125
2021	10,440			125
2022	10,630			125
2023	10,763			125
2024	9,948			126
Thereafter	622,618			9,281
Total undiscounted lease payments	$	674,707		$	9,907
Less: Interest	(476,057		)	(6,488		)
Present value of lease liabilities	$	198,650		$	3,419

Schedule of undiscounted cash flows for future minimum rents

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

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

Schedule of Future Minimum Rental Payments for Operating Leases

The following table summarizes the future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of December 31, 2019 under Topic 842 (in thousands):

Year	Amount
2020	$	526,431
2021	475,822
2022	419,219
2023	366,336
2024	320,190
Thereafter	1,279,376
Total	$	3,387,374