Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Future Minimum Lease Payments Receivable

Future lease payments under the non-cancelable operating leases, excluding any reimbursements, as of March 31, 2019 are as follows (in thousands):

2019	$	250,619
2020	294,900
2021	250,050
2022	213,822
2023	175,215
2024 and thereafter	502,647
	$	1,687,253

Future Minimum Lease Payments Receivable under ASC 840

Future minimum lease payments under the non-cancelable operating leases, excluding any reimbursements, as of December 31, 2018 are as follows (in thousands):

2019	$	326,441
2020	279,211
2021	235,660
2022	201,072
2023	163,978
2024 and thereafter	476,673
	$	1,683,035

Future Minimum Operating Lease Payments

The Company’s future lease payments (primarily for its 63 non-prepaid ground leases) as of March 31, 2019 were as follows (in thousands):  

	Operating			Financing
2019	$	2,948		$	626
2020	4,849			611
2021	4,879			619
2022	4,909			628
2023	4,947			637
2024 and thereafter	314,406			74,766
Total undiscounted lease payments	336,938			77,887
Discount	(245,894		)	(63,593		)
Lease Liability	$	91,044		$	14,294

Future Minimum Financing Lease Payments

The Company’s future lease payments (primarily for its 63 non-prepaid ground leases) as of March 31, 2019 were as follows (in thousands):  

	Operating			Financing
2019	$	2,948		$	626
2020	4,849			611
2021	4,879			619
2022	4,909			628
2023	4,947			637
2024 and thereafter	314,406			74,766
Total undiscounted lease payments	336,938			77,887
Discount	(245,894		)	(63,593		)
Lease Liability	$	91,044		$	14,294

Lease Cost

The following table provides a detail of the Company's total lease expense for the three months ended March 31, 2019 (in thousands):

	Operating			FInancing
Lease expense
Operating lease expense	$	1,116		$	—
Variable lease expense	740			—
Total lease expense	$	1,856		$	—
Other information
Operating cash flows outflows related to operating leases	$	2,771		$	—
Right-of-use assets obtained in exchange for new lease liabilities	$	—		$	14,294
Weighted-average remaining lease term (excluding renewal options)	54.0			70.6
Weighted-average discount rate	5.5		%	5.9		%

Future Minimum Lease Payments under ASC 840

The Company’s future minimum lease payments (primarily for its 60 non-prepaid ground leases) as of December 31, 2018 were as follows (in thousands):  

2019	$	5,288
2020	5,260
2021	5,238
2022	5,207
2023	5,224
2024 and thereafter	323,533
	$	349,750