Leases (Tables)

3 Months Ended

Mar. 31, 2020

Lessor—The majority of our leases are largely similar in that the leased asset is retail space within our properties, and the lease agreements generally contain similar provisions and features, without substantial variations. All of our leases are currently classified as operating leases. Lease income related to our operating leases was as follows for the three months ended March 31, 2020 and 2019 (dollars in thousands):



	March 31, 2020			March 31, 2019
Rental income related to fixed lease payments	$	98,335		$	97,586
Rental income related to variable lease payments	31,838			30,527
Other⁽¹⁾	(1,707		)	747
Total rental income	$	128,466		$	128,860


⁽¹⁾	Amounts consist of amortization of above- and below-market lease intangibles, lease inducements, revenue adjustments related to changes in collectability, settlement income, and lease buyout income.

Lessor - Operating Lease, Payments to be Received, Maturity

Approximate future fixed contractual lease payments to be received under non-cancelable operating leases in effect as of March 31, 2020, assuming no new or renegotiated leases or option extensions on lease agreements, are as follows (in thousands):



Year	Amount
Remaining 2020	$	281,778
2021	341,849
2022	305,829
2023	257,200
2024	201,367
Thereafter	537,322
Total	$	1,925,345

Schedule of Leases

Lease assets and liabilities, grouped by balance sheet line where they are recorded, consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands):



Balance Sheet Information	Balance Sheet Location	March 31, 2020		December 31, 2019
ROU assets, net - operating leases⁽¹⁾	Investment in Real Estate	$	3,952	$	7,613
ROU assets, net - operating and finance leases	Other Assets, Net	2,396		2,111
Operating lease liability	Accounts Payable and Other Liabilities	6,168		9,453
Finance lease liability	Debt Obligations, Net	384		443

⁽¹⁾

During the three months ended March 31, 2020, one of our acquisitions was land upon which one of our shopping centers is situated that was previously subject to a ground lease in which the lessor controlled an option requiring us to purchase the land subject to the lease. Our valuation of the ROU asset and lease liability as of December 31, 2019 for this ground lease reflected the assumption that the lessor would exercise this option and that we would purchase the underlying land asset.