We lease communications towers, ground, colocation, and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments.

The components of lease income for the three months ended March 31, 2022 and 2021, respectively, are as follows:

Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms are as of March 31, 2022 are as follows:

(Thousands)	March 31, 2022⁽¹⁾
2022	$	566,495
2023		772,167
2024		774,111
2025		775,326
2026		776,735
Thereafter		3,033,462
Total lease receivables	$	6,698,296
⁽¹⁾ Total future minimum lease payments to be received include $5.7 billion relating to the Windstream Leases.

The underlying assets under operating leases where we are the lessor are summarized as follows:

(Thousands)	March 31, 2022			December 31, 2021
Land	$	26,580		$	26,593
Building and improvements		343,934			343,624
Poles		285,474			281,130
Fiber		3,317,265			3,278,276
Equipment		428			428
Copper		3,933,940			3,918,281
Conduit		89,859			89,859
Tower assets		1,397			1,397
Finance lease assets		28,126			28,126
Other assets		10,577			10,649
		8,037,580			7,978,363
Less: accumulated depreciation		(5,433,927	)		(5,391,479	)
Underlying assets under operating leases, net	$	2,603,653		$	2,586,884

Depreciation expense for the underlying assets under operating leases where we are the lessor for the three months ended March 31, 2022 and 2021, respectively, is summarized as follows:

We have commitments under operating leases for communications towers, ground, colocation, dark fiber lease arrangements, and buildings. We also have finance leases for dark fiber lease arrangements and other communications equipment. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years, and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments.

As of March 31, 2022, we have short term lease commitments amounting to approximately $2.5 million.

Future lease payments under non-cancellable leases as of March 31, 2022 are as follows:

(Thousands)	Operating Leases			Finance Leases
2022	$	11,387		$	1,724
2023		13,515			2,281
2024		11,204			2,082
2025		8,590			2,021
2026		5,964			2,021
Thereafter		37,309			14,749
Total undiscounted lease payments	$	87,969		$	24,878
Less: imputed interest		(28,290	)		(9,734	)
Total lease liabilities	$	59,679		$	15,144