Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Schedule of Company's Lease Income

The following table summarizes the Company’s lease income (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Fixed income from operating leases	$	262,558	$	255,447	$	770,327	$	730,277
Variable income from operating leases	63,972		57,153		183,254		177,742
Interest income from direct financing leases	2,150		9,590		7,569		33,304

Schedule of Components of Net Investment in DFLs

Net investment in DFLs consists of the following (dollars in thousands):

	September 30, 2020		December 31, 2019
Present value of minimum lease payments receivable	$	11,955	$	19,138
Present value of estimated residual value	44,706		84,604
Less deferred selling profits	(11,955)		(19,138)
Net investment in direct financing leases	$	44,706	$	84,604
Properties subject to direct financing leases	1		2

Summary of the Company's Internal Ratings for DFLs

The following table summarizes the Company’s internal ratings for DFLs at September 30, 2020 (dollars in thousands):

	Carrying Amount		Percentage of DFL Portfolio	Internal Ratings
Segment				Performing DFLs		Watch List DFLs		Workout DFLs
Other non-reportable segments	$	44,706	100	$	44,706	$	—	$	—
	$	44,706	100	$	44,706	$	—	$	—

The following table summarizes, by year of origination, the Company’s internal ratings for loans receivables, net of reserves for loan losses, as of September 30, 2020 (dollars in thousands):

Investment Type	Year of Origination										Total
	2020		2019		2018		2017		2016
Secured mortgage loans(1)
Risk rating:
Performing loans	$	36,805	$	58,998	$	—	$	114,459	$	—	$	210,262
Watch list loans	—		—		—		—		—		—
Workout loans	—		—		—		—		—		—
Total secured mortgage loans	$	36,805	$	58,998	$	—	$	114,459	$	—	$	210,262
Mezzanine and other(1)
Risk rating:
Performing loans	$	18,966	$	14,243	$	—	$	—	$	8,453	$	41,662
Watch list loans	—		—		—		1,861		—		1,861
Workout loans	—		—		—		—		—		—
Total mezzanine and other	$	18,966	$	14,243	$	—	$	1,861	$	8,453	$	43,523

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(1)Includes loans receivable held for sale.

Schedule of Other Lease Information

The following table provides supplemental cash flow information regarding the Company’s leases for which it is the lessee, such as ground leases (dollars in thousands):

	Nine Months Ended September 30,
Supplemental Cash Flow Information:	2020		2019
Right-of-use asset obtained in exchange for new lease liability:
Operating leases	$	24,984	$	4,084