LEASES (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of future minimum rental income for operating leases - ASC 842

As of March 31, 2020, the future minimum rental income from the Company’s real estate assets under non-cancelable operating leases, assuming no exercise of renewal options for the succeeding five fiscal years and thereafter, was as follows (in thousands):



	Future Minimum Rental Income
Remainder of 2020	$	167,817
2021	212,996
2022	201,032
2023	182,434
2024	162,681
Thereafter	1,046,488
Total	$	1,973,448

Schedule of components of lease income

Rental and other property income during the three months ended March 31, 2020 and 2019 consisted of the following (in thousands):



	Three Months Ended March 31,
	2020		2019
Fixed rental and other property income⁽¹⁾	$	56,673	$	89,765
Variable rental and other property income ⁽²⁾	$	11,763	$	14,997
Total rental and other property income	$	68,436	$	104,762

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(1)	Consists primarily of fixed contractual payments from operating leases with tenants recognized on a straight-line basis over the lease term, including amortization of acquired above- and below-market leases.


(2)	Consists primarily of tenant reimbursements for recoverable real estate taxes and property operating expenses, and percentage rent, net of bad debt expense.