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v3.22.2.2

Leases (Tables) | 9 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
Future Minimum Operating Lease Payments Receivable | Future lease payments under the non-cancelable operating leases, excluding any reimbursements and the sale-type lease, as of September 30, 2022 were as follows:
Dollars in thousands | OPERATING |
2022 | $ | 243,946 |  |
2023 | 937,733 |  |
2024 | 816,000 |  |
2025 | 702,251 |  |
2026 | 605,417 |  |
2027 and thereafter | 2,242,792 |  |
| $ | 5,548,139 |  |
Future Minimum Operating Lease Payments | The Company’s future lease payments (primarily for its 168 non-prepaid ground leases) as of September 30, 2022 were as follows:
Dollars in thousands | OPERATING | FINANCING
2022 | $ | 3,665 |  | $ | 503 |
2023 | 15,606 |  | 2,139 |
2024 | 15,193 |  | 2,182 |
2025 | 14,715 |  | 2,218 |
2026 | 14,735 |  | 2,255 |
2027 and thereafter | 894,018 |  | 398,092 |
Total undiscounted lease payments | 957,932 |  | 407,389 |
Discount | (689,092) |  | (335,011) |
Lease liabilities | $ | 268,840 |  | $ | 72,378 |
Future Minimum Financing Lease Payments | The Company’s future lease payments (primarily for its 168 non-prepaid ground leases) as of September 30, 2022 were as follows:
Dollars in thousands | OPERATING | FINANCING
2022 | $ | 3,665 |  | $ | 503 |
2023 | 15,606 |  | 2,139 |
2024 | 15,193 |  | 2,182 |
2025 | 14,715 |  | 2,218 |
2026 | 14,735 |  | 2,255 |
2027 and thereafter | 894,018 |  | 398,092 |
Total undiscounted lease payments | 957,932 |  | 407,389 |
Discount | (689,092) |  | (335,011) |
Lease liabilities | $ | 268,840 |  | $ | 72,378 |
Lease Cost | The following table provides details of the Company's total lease expense for the three and nine months ended September 30, 2022 and 2021:
| THREE MONTHS ENDED September 30, | NINE MONTHS ENDED September 30,
Dollars in thousands | 2022 | 2021 | 2022 | 2021
Operating lease cost |  |  |  |
Operating lease expense | $ | 4,204 |  | $ | 1,196 |  | $ | 6,613 |  | $ | 3,555 |
Variable lease expense | 1,061 |  | 1,016 |  | 3,123 |  | 2,883 |
Finance lease cost |  |  |  |
Amortization of right-of-use assets | 381 |  | 90 |  | 884 |  | 267 |
Interest on lease liabilities | 861 |  | 255 |  | 1,913 |  | 748 |
Total lease expense | $ | 6,507 |  | $ | 2,557 |  | $ | 12,533 |  | $ | 7,453 |
Other information |  |  |  |
Operating cash flows outflows related to operating leases | $ | 3,847 | $ | 1,424 |  | $ | 8,443 |  | $ | 5,855 |
Operating cash flows outflows related to financing leases | $ | 476 | $ | 151 |  | $ | 1,262 |  | $ | 678 |
Financing cash flows outflows related to financing leases | $ | 3 | $ | 6 |  | $ | 3 |  | $ | 162 |
Right-of-use assets obtained in exchange for new finance lease liabilities | $ | 9,874 | $ | 1,420 |  | $ | 50,463 |  | $ | 1,420 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 198,261 | $ | 8,298 |  | $ | 198,261 |  | $ | 8,298 |
Weighted-average years remaining lease term (excluding renewal options) - operating leases | 50.2 | 47.8 |  |
Weighted-average years remaining lease term (excluding renewal options) - finance leases | 60.1 | 63.2 |  |
Weighted-average discount rate - operating leases | 5.7 | % | 5.6 | % |  |
Weighted-average discount rate - finance leases | 5.0 | % | 5.4 | % |  |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=124258985&loc=SL77919396-209981 + Details
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