Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Summary Of Operating Lease Income

The disaggregation of the Company’s lease income, which is included in Revenues from rental properties, net on the Company’s Condensed Consolidated Statements of Income, as either fixed or variable lease income based on the criteria specified in ASC 842, for the three and six months ended June 30, 2026 and 2025, was as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Lease income:
Fixed lease income (1)	$	427,681		$	413,727		$	852,975		$	829,898
Variable lease income (2)		115,708			105,829			232,658			218,816
Above-market and below-market leases amortization, net		6,491			7,330			20,125			12,644
Adjustments for potentially uncollectible lease income or disputed amounts		(3,457	)		(5,956	)		(6,523	)		(9,142	)
Total lease income	$	546,423		$	520,930		$	1,099,235		$	1,052,216

(1)Includes minimum base rents, expense reimbursements, ancillary income and straight-line rent adjustments.

(2)Includes minimum base rents, expense reimbursements, percentage rent, lease termination fee income and ancillary income.

Summary of Lease Expense

The components of the Company’s lease expense, which are included in interest expense, rent expense and general and administrative expense on the Company’s Condensed Consolidated Statements of Income for the three and six months ended June 30, 2026 and 2025, were as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Lease cost:
Finance lease cost	$	-		-	$	-	$	43
Operating lease cost		3,629		3,600		7,198		7,041
Variable lease cost		555		724		1,230		1,565
Total lease cost	$	4,184	$	4,324	$	8,428	$	8,649