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Lessor Operating Leases | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Lessor Operating Leases | Lessor Operating Leases At December 31, 2021, we owned 11,136 properties in all 50 U.S. states, Puerto Rico, the U.K. and Spain. Of the 11,136 properties, 11,043, or 99.2%, are single-client properties, and the remaining are multi-client properties. At December 31, 2021, 164 properties were available for lease or sale. Substantially all of our leases are net leases where our client pays or reimburses us for property taxes and assessments, maintains the interior and exterior of the building and leased premises, and carries insurance coverage for public liability, property damage, fire and extended coverage. Rental revenue based on a percentage of our client's gross sales, or percentage rents, was $6.5 million for 2021, $5.1 million in 2020, and $8.0 million for 2019. At December 31, 2021, minimum future annual rental revenue to be received on the operating leases for the next five years and thereafter are as follows (in thousands):
|  | Future Minimum Operating Lease Payments |  | Future Minimum Direct Financing Lease Payments (1)
2022 |  | $ | 2,900,002 |  |  | $ | 1,925 |
2023 |  | 2,824,724 |  |  | 1,565 |
2024 |  | 2,683,176 |  |  | 510 |
2025 |  | 2,533,231 |  |  | 169 |
2026 |  | 2,362,933 |  |  | 171 |
Thereafter |  | 14,918,244 |  |  | 484 |
Totals |  | $ | 28,222,310 |  |  | $ | 4,824 |
(1) Related to 18 properties which are subject to direct financing leases and, therefore, revenue is recognized as rental income on the discounted cash flows of the lease payments. Amounts reflect undiscounted cash flows to be received by the Company under the lease agreements on these respective properties. No individual client's rental revenue, including percentage rents, represented more than 10% of our total revenue for each of the years ended December 31, 2021, 2020 or 2019.

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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