Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

Leases

For the three months ended March 31, 2022, we added one new office lease that commences in April 2022.

Lessee - Maturity of Lease Liabilities

The following table summarizes the future minimum lease obligations of our operating and finance leases as of March 31, 2022 (in thousands):

Year	Operating Leases		Finance Leases
2022	$	8,028	$	473
2023	10,846		635
2024	10,370		640
2025	9,857		645
2026	9,860		656
2027	9,845		668
Thereafter	590,018		36,856
Total undiscounted lease payments	$	648,824	$	40,573
Less: Interest	(452,598)		(23,665)
Present value of lease liabilities	$	196,226	$	16,908

Lessor - Lease Revenues and Maturity of Future Minimum Rents

For the three months ended March 31, 2022 and 2021, we recognized $199.3 million and $190.4 million, respectively, of rental and other lease-related income related to our operating leases, of which $48.1 million and $45.1 million, respectively, were variable lease payments.

The following table summarizes the future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of March 31, 2022 (in thousands):

Year	Amount
2022	$	432,329
2023	537,159
2024	479,252
2025	418,300
2026	369,927
2027	301,521
Thereafter	1,044,334
Total	$	3,582,822