Components Of Rental Income

12 Months Ended

Dec. 31, 2018

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,
	2018		2017		2016
	(In thousands)
Minimum rents
Retail and commercial	$	616,137	$	585,178	$	549,552
Residential	71,001		55,416		49,465
Cost reimbursement	178,333		171,528		158,042
Percentage rent	11,241		11,148		10,977
Other	18,986		18,191		18,547
Total rental income	$	895,698	$	841,461	$	786,583

Minimum rents include the following:

	Year Ended December 31,
	2018		2017		2016
	(In millions)
Straight-line rents	$	5.0	$	12.9	$	8.1
Net amortization of above and below market leases	$	6.8	$	4.7	$	1.8

The principal components of rental expenses are as follows:

	Year Ended December 31,
	2018		2017		2016
	(In thousands)
Repairs and maintenance	$	67,745	$	67,996	$	64,942
Utilities	27,635		25,763		24,968
Management fees and costs	24,024		22,297		20,823
Payroll	16,140		14,922		13,832
Marketing	7,935		9,007		8,520
Insurance	7,547		7,762		7,758
Bad debt expense	4,708		2,591		2,375
Ground rent	4,697		3,826		2,561
Other operating	12,663		10,726		12,547
Total rental expenses	$	173,094	$	164,890	$	158,326