XML 41 R20.htm IDEA: XBRL DOCUMENT
v3.22.4

Lessor Operating and Finance Leases | 12 Months Ended
--- | ---
Dec. 31, 2022
Leases [Abstract] |
Lessor Operating and Finance Leases | Lessor Operating and Finance Leases At December 31, 2022, we owned or held interests in 12,237 properties. Of the 12,237 properties, 12,018, or 98.2%, are single-client properties, and the remaining are multi-client properties. At December 31, 2022, 126 properties were available for lease or sale. The majority of our leases are accounted for as operating leases. 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. Rent based on a percentage of our client's gross sales, or percentage rent, for the years ended December 31, 2022, 2021, and 2020 was $14.9 million, $6.5 million, and $5.1 million, respectively. At December 31, 2022, 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 and Sale-Type Lease Payments (1)
2023 |  | $ | 3,417,312 |  |  | $ | 2,024 |
2024 |  | 3,314,029 |  |  | 1,118 |
2025 |  | 3,162,006 |  |  | 893 |
2026 |  | 2,987,790 |  |  | 894 |
2027 |  | 2,769,839 |  |  | 771 |
Thereafter |  | 20,149,647 |  |  | 25,848 |
Totals |  | $ | 35,800,623 |  |  | $ | 31,548 |
(1) Related to 17 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 reflected are the cash rent on these respective properties. Two properties are subject to sales-type leases and, therefore, revenue is recognized as sales-type lease income on the discounted cash flows of the lease payments. Amounts reflected are the cash rent 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, 2022, 2021, and 2020.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration