LEASES (Tables)

12 Months Ended

Dec. 31, 2021

LEASES [Abstract]

Schedule of operating lease income

The following table summarizes the Company’s rental income from operating leases:

	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Rental income – operating leases	$	911,701	$	741,681	$	792,010
Variable lease income – operating leases		11,976		11,746		12,066
Total rental income	$	923,677	$	753,427	$	804,076

Schedule of estimated contractual rent receivables under operating leases

The following amounts reflect the future minimum lease payments due to us for the remainder of the initial terms of our operating leases as of December 31, 2021:

	(in thousands)
2022	$	820,565
2023		838,780
2024		852,632
2025		861,586
2026		871,072
Thereafter		4,192,976
Total	$	8,437,611

Schedule of summarized balance sheet information related to leases

The following table summarizes the balance sheet information related to leases where the Company is a lessee:

	December 31,		December 31,		December 31,
	2021		2020		2019
	(in thousands)
Other assets - right of use assets	$	16,117	$	16,526	$	17,533
Accrued expenses and other liabilities – lease liabilities	$	17,180	$	17,349	$	18,033

Schedule of Components of Investment in Direct Financing Leases

The components of investments in direct financing leases consist of the following:

	December 31,		December 31,
	2021		2020
	(in thousands)
Minimum lease payments receivable	$	24,863	$	25,947
Less unearned income		(13,460)		(14,489)
Investment in direct financing leases		11,403		11,458
Less allowance for credit losses on direct financing leases		(530)		(694)
Investment in direct financing leases – net	$	10,873	$	10,764
Properties subject to direct financing leases		1		1
Number of direct financing leases		1		1