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Lessor Operating Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Lessor Operating Leases | Lessor Operating Leases At December 31, 2023, we owned or held interests in 13,458 properties. Of the 13,458 properties, 13,197, or 98.1%, are single-client properties, and the remaining are multi-client properties. At December 31, 2023, 193 properties were available for lease or sale. The majority of our leases are accounted for as operating leases. The vast majority of our leases are net leases where our client pays or reimburses us for property taxes and assessments 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, 2023, 2022, and 2021 was $14.8 million, $14.9 million, and $6.5 million, respectively. At December 31, 2023, 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)
2024 |  | $ | 4,006,574 |  |  | $ | 1,037 |
2025 |  | 3,918,126 |  |  | 812 |
2026 |  | 3,747,064 |  |  | 814 |
2027 |  | 3,531,235 |  |  | 751 |
2028 |  | 3,222,392 |  |  | 710 |
Thereafter |  | 24,768,619 |  |  | 25,139 |
Totals |  | $ | 43,194,010 |  |  | $ | 29,263 |
(1) Related to six 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, 2023, 2022, and 2021.

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