COMMERCIAL PROPERTY REVENUE

12 Months Ended

Dec. 31, 2019

The components of commercial property revenue are as follows:



(US$ Millions) Years ended Dec. 31,	2019		2018		2017
Base rent⁽¹⁾	$	3,814	$	3,443	$	3,797
Straight-line rent	115		116		124
Lease termination	44		55		18
Other lease income⁽¹⁾⁽²⁾	612		623		—
Other revenue from tenants⁽¹⁾⁽³⁾	1,106		806		—
Other⁽¹⁾	—		—		253
Total commercial property revenue	$	5,691	$	5,043	$	4,192


⁽¹⁾	The partnership adopted IFRS 15 in 2018 using the modified retrospective method. The comparative information has not been restated and is reported under the accounting standards effective for those periods.


⁽²⁾	Other lease income includes parking revenue and recovery of property tax and insurance expense from tenants.


⁽³⁾	Consists of recovery of certain operating expenses and other revenue from tenants which are accounted for in accordance with IFRS 15.

The partnership leases properties under operating leases generally with lease terms of between 1 and 15 years, with options to extend. Minimum rental commitments under non-cancellable tenant operating leases are as follows:



(US$ Millions)	Dec. 31, 2019		Dec. 31, 2018
Less than 1 year	$	3,191	$	3,282
1-5 years	11,030		11,679
More than 5 years	12,089		11,856
Total	$	26,310	$	26,817

INVESTMENT AND OTHER REVENUE

The components of investment and other revenue are as follows:



(US$ Millions) Years ended Dec. 31,	2019		2018		2017
Investment income	$	223	$	68	$	170
Fee revenue	259		131		61
Dividend income	6		10		18
Interest income and other	107		57		19
Participating loan interests	8		17		27
Total investment and other revenue	$	603	$	283	$	295