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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Lessor Disclosure [Abstract] |
Operating Lease - Schedule of Future Minimum Lease Receivable |
Year |  | Amount
2024 |  | $ | 1,862,795 |
2025 |  | 1,868,217 |
2026 |  | 1,817,938 |
2027 |  | 1,738,305 |
2028 |  | 1,607,062 |
Thereafter |  | 10,201,534 |
Total |  | $ | 19,095,851 |
Net investment in direct financing and sales-type leases | The components of our aggregate net investment in our direct financing lease as of December 31, 2023 and 2022 are summarized in the table below (in thousands):
|  | December 31,
|  | 2023 |  | 2022
Gross investment in direct financing lease |  | $ | 253,324 |  |  | $ | 255,186 |
Less: unearned income on direct financing lease |  | (210,388) |  |  | (212,995) |
Less: allowance for credit losses |  | (2,839) |  |  | (2,839) |
Net investment in direct financing lease |  | $ | 40,097 |  |  | $ | 39,352 |
Direct Financing and Sales-Type Leases - Schedule of Future Minimum Payment Receivable | Future lease payments to be received under the terms of our direct financing lease as of December 31, 2023 are outlined in the table below (in thousands):
Year |  | Total
2024 |  | $ | 1,919 |
2025 |  | 1,976 |
2026 |  | 2,036 |
2027 |  | 2,097 |
2028 |  | 2,160 |
Thereafter |  | 243,136 |
Total |  | $ | 253,324 |
Income from rentals | Our income from rentals includes revenue related to agreements for the rental of our real estate, which primarily includes revenues subject to the lease accounting standard and the revenue recognition accounting standard as shown below (in thousands):
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Income from rentals: |  |  |  |  |  |
Revenues subject to the lease accounting standard: |  |  |  |  |  |
Operating leases |  | $ | 2,802,567 |  |  | $ | 2,534,862 |  |  | $ | 2,081,362 |
Direct financing and sales-type leases(1) |  | 2,608 |  |  | 3,094 |  |  | 3,489 |
Revenues subject to the lease accounting standard |  | 2,805,175 |  |  | 2,537,956 |  |  | 2,084,851 |
Revenues subject to the revenue recognition accounting standard |  | 37,281 |  |  | 38,084 |  |  | 23,398 |
Income from rentals |  | $ | 2,842,456 |  |  | $ | 2,576,040 |  |  | $ | 2,108,249 |
(1)We completed the sale of our real estate assets subject to sales-type leases in May 2022 and have had no sales-type leases since then.
Summary of deferred leasing costs | The following table summarizes our deferred leasing costs as of December 31, 2023 and 2022 (in thousands):
|  | December 31,
|  | 2023 |  | 2022
Deferred leasing costs |  | $ | 1,035,339 |  |  | $ | 996,116 |
Accumulated amortization |  | (525,941) |  |  | (479,841) |
Deferred leasing costs, net |  | $ | 509,398 |  |  | $ | 516,275 |
Lessee Disclosure [Abstract] |
Operating Lease - Schedule of Future Minimum Lease Payable | The reconciliation of future lease payments under noncancelable operating leases in which we are the lessee, to the operating lease liability reflected in our consolidated balance sheet as of December 31, 2023 is presented in the table below (in thousands):
Year |  | Total
2024 |  | $ | 22,611 |
2025 |  | 22,671 |
2026 |  | 22,865 |
2027 |  | 21,944 |
2028 |  | 21,614 |
Thereafter |  | 737,194 |
Total future payments under our operating leases in which we are the lessee |  | 848,899 |
Effect of discounting |  | (466,016) |
Operating lease liability |  | $ | 382,883 |
Lesee operating costs | For the years ended December 31, 2023, 2022, and 2021, our costs for operating leases in which we are the lessee were as follows (in thousands):
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Gross operating lease costs |  | $ | 39,879 |  |  | $ | 36,527 |  |  | $ | 28,598 |
Capitalized lease costs |  | (5,544) |  |  | (3,661) |  |  | (3,167) |
Expenses for operating leases in which we are the lessee |  | $ | 34,335 |  |  | $ | 32,866 |  |  | $ | 25,431 |

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