On January 1, 2019, the Company adopted ASU 2016-02, “Leases” (see “New Accounting Pronouncements Adopted—Leases” section of Note 2).

The Company’s properties are leased to tenants under operating leases with initial term expiration dates ranging from 2020 to 2049.

The future contractual minimum lease payments to be received (excluding operating expense reimbursements) by the Company as of December 31, 2018, under non-cancelable operating leases which expire on various dates through 2049:



Years Ending December 31,	(in thousands)
2019	$	2,088,171
2020	2,106,963
2021	2,015,031
2022	1,838,699
2023	1,736,636
Thereafter	12,295,464

The future contractual lease payments to be received (excluding operating expense reimbursements) by the Company as of December 31, 2019, under non-cancelable operating leases which expire on various dates through 2049:



Years Ending December 31,	(in thousands)
2020	$	2,205,675
2021	2,222,643
2022	2,126,968
2023	2,068,871
2024	1,974,144
Thereafter	13,892,504

No single tenant represented more than 10.0% of the Company’s total rental revenue for the years ended December 31, 2018 and 2017 and no single tenant represented more than 10.0% of the Company’s total lease revenue for the year ended December 31, 2019.