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Leases (Tables)
 3 Months Ended
Mar. 31, 2024
Lessor  
Operating Lease - Schedule of Future Minimum Lease Receivable Future lease payments to be received under the terms of our operating lease agreements, excluding expense reimbursements, in effect as of March 31, 2024 are outlined in the table below (in thousands):
YearAmount
2024$1,447,841 
20251,871,023 
20261,803,392 
20271,740,053 
20281,606,401 
Thereafter10,681,698 
Total$19,150,408 
Net investment in direct financing and sales-type leases
The components of our aggregate net investment in our direct financing lease as of March 31, 2024 and December 31, 2023 are summarized in the table below (in thousands):
March 31, 2024December 31, 2023
Gross investment in direct financing lease$252,850 $253,324 
Less: unearned income on direct financing lease(209,729)(210,388)
Less: allowance for credit losses(2,839)(2,839)
Net investment in direct financing lease$40,282 $40,097 
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 March 31, 2024 are outlined in the table below (in thousands):
YearTotal
2024$1,445 
20251,976 
20262,036 
20272,097 
20282,160 
Thereafter243,136 
Total$252,850 
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):
Three Months Ended March 31,
20242023
Income from rentals:
Revenues subject to the lease accounting standard:
Operating leases$746,061 $677,422 
Direct financing leases659 648 
Revenues subject to the lease accounting standard746,720 678,070 
Revenues subject to the revenue recognition accounting standard8,831 9,879 
Income from rentals$755,551 $687,949 
Lessee  
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 unaudited consolidated balance sheet as of March 31, 2024 is presented in the table below (in thousands):
YearTotal
2024$17,232 
202522,671 
202622,865 
202721,946 
202821,614 
Thereafter737,191 
Total future payments under our operating leases in which we are the lessee843,519 
Effect of discounting(461,941)
Operating lease liability$381,578 
Lessee Operating Costs For the three months ended March 31, 2024 and 2023, our costs for operating leases in which we are the lessee were as follows (in thousands):
Three Months Ended March 31,
20242023
Gross operating lease costs$9,211 $9,457 
Capitalized lease costs(528)(921)
Expenses for operating leases in which we are the lessee$8,683 $8,536