Property and equipment (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

The balance of property and equipment, net is as follows ($ in thousands):

	As of September 30,		As of December 31,
	2020		2019
Property and equipment, gross
Land, buildings and improvements	$	1,916,838	$	1,976,214
Fixtures and machinery (1)	84,913		81,437
Furniture and other fixed assets	231,627		228,533
Construction in progress	8,111		42,083
Total property and equipment, gross	2,241,489		2,328,267
Accumulated depreciation	(451,589)		(398,353)
Total property and equipment, net	$	1,789,900	$	1,929,914

________

(1) Includes the gross balance of our financing lease right-of-use asset of $2.3 million (see Note 11).

Schedule of Rental Income

The following table presents our rental income for the three and nine months ended September 30, 2020 and 2019 ($ in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
Leases	2020		2019		2020		2019
Operating lease income (1)	$	254	$	1,215	$	1,400	$	3,931

________

(1) Our operating lease income, which is recorded within non-package revenue in the Condensed Consolidated Statements of Operations, includes variable lease revenue, which is typically calculated as a percentage of our tenant's net sales.