Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases

Summary of lease income

The following table includes information regarding contractual lease payments for the Company’s operating leases for which it is the lessor, for the three and six months ended June 30, 2023 and 2022 (presented in thousands):

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Total lease payments	$	135,691	$	110,062	$	267,842	$	213,424
Less: Operating cost reimbursements and percentage rents		14,731		11,770		31,122		23,684
Total non-variable lease payments	$	120,960	$	98,292	$	236,720	$	189,740

Summary of lease income to be received

At June 30, 2023, future non-variable lease payments to be received from the Company’s operating leases for the remainder of 2023, the following four years, and thereafter are as follows (presented in thousands):

	2023
Year Ending December 31,	(remaining)		2024		2025		2026		2027		Thereafter		Total
Future non-variable lease payments	$	256,759	$	510,508	$	500,458	$	481,143	$	455,808	$	2,449,906	$	4,654,582

Summary of lease costs and maturity analysis

The following tables include information on the Company’s land leases for which it is the lessee, for the three and six months ended June 30, 2023 and 2022. (presented in thousands)

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Operating leases:
Operating cash outflows	$	299	$	301	$	598	$	598
Weighted-average remaining lease term - operating leases (years)		33.4		33.7		33.4		33.7
Finance leases:
Operating cash outflows	$	63	$	64	$	126	$	128
Financing cash outflows	$	21	$	20	$	42	$	40
Weighted-average remaining lease term - finance leases (years)		1.3		2.3		1.3		2.3

Summary of maturity analysis of lease liabilities for operating land leases

The following is a maturity analysis of lease liabilities for operating land leases as of June 30, 2023 for the remainder of 2023 and the following four years. (presented in thousands)

	2023
Year Ending December 31,	(remaining)		2024		2025		2026		2027		Thereafter		Total
Lease payments	$	598	$	1,197	$	1,197	$	1,195	$	1,042	$	28,809	$	34,038
Imputed interest		(353)		(690)		(669)		(647)		(627)		(13,864)		(16,850)
Total lease liabilities	$	245	$	507	$	528	$	548	$	415	$	14,945	$	17,188

Summary of maturity analysis of lease liabilities for finance land leases

The following is a maturity analysis of lease liabilities for finance land leases as of June 30, 2023 for the remainder of 2023 and the following four years. (presented in thousands)

	2023
Year Ending December 31,	(remaining)		2024		2025		2026		2027		Thereafter		Total
Lease payments	$	168	$	6,252	$	—	$	—	$	—	$	—	$	6,420
Imputed interest		(125)		(207)		—		—		—		—		(332)
Total lease liabilities	$	43	$	6,045	$	—	$	—	$	—	$	—	$	6,088