Components Of Rental Income

12 Months Ended

Dec. 31, 2017

Components Of Rental Income and Expense [Abstract]

COMPONENTS OF RENTAL INCOME AND EXPENSE

COMPONENTS OF RENTAL INCOME AND EXPENSE

The principal components of rental income are as follows:

	Year Ended December 31,
	2017		2016		2015
	(In thousands)
Minimum rents
Retail and commercial	$	585,178	$	549,552	$	509,825
Residential	55,416		49,465		42,797
Cost reimbursement	171,528		158,042		148,110
Percentage rent	11,148		10,977		11,911
Other	18,191		18,547		15,169
Total rental income	$	841,461	$	786,583	$	727,812

Minimum rents include the following:

	Year Ended December 31,
	2017		2016		2015
	(In millions)
Straight-line rents	$	12.9	$	8.1	$	7.6
Net amortization of above and below market leases	$	4.7	$	1.8	$	2.7

The principal components of rental expenses are as follows:

	Year Ended December 31,
	2017		2016		2015
	(In thousands)
Repairs and maintenance	$	67,996	$	64,942	$	62,420
Utilities	25,763		24,968		23,003
Management fees and costs	22,297		20,823		18,639
Payroll	14,922		13,832		12,673
Marketing	9,007		8,520		9,046
Insurance	7,762		7,758		7,875
Ground rent	3,826		2,561		2,540
Bad debt expense	2,591		2,375		1,168
Other operating	10,726		12,547		10,229
Total rental expenses	$	164,890	$	158,326	$	147,593