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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of future minimum lease payments due to the Company under property operating agreements
Future minimum lease payments under the non-cancelable operating leases, excluding any reimbursements, as of December 31, 2022 are as follows:
In thousands
2023$928,516 
2024814,132 
2025701,659 
2026603,051 
2027500,645 
2028 and thereafter1,633,847 
$5,181,850 
Schedule of future minimum operating lease payments
The Company’s future lease payments (primarily for its 167 non-prepaid ground leases) as of December 31, 2022 were as follows:
In thousandsOPERATINGFINANCING
2023$15,641 $2,140 
2024$15,227 $2,182 
2025$14,814 $2,218 
2026$14,852 $2,255 
2027$14,921 $2,294 
2028 and thereafter$939,165 $396,398 
Total undiscounted lease payments$1,014,620 $407,487 
Discount$(734,725)$(334,548)
Lease liabilities$279,895 $72,939 
Schedule of future minimum finance lease payments
The Company’s future lease payments (primarily for its 167 non-prepaid ground leases) as of December 31, 2022 were as follows:
In thousandsOPERATINGFINANCING
2023$15,641 $2,140 
2024$15,227 $2,182 
2025$14,814 $2,218 
2026$14,852 $2,255 
2027$14,921 $2,294 
2028 and thereafter$939,165 $396,398 
Total undiscounted lease payments$1,014,620 $407,487 
Discount$(734,725)$(334,548)
Lease liabilities$279,895 $72,939 
Schedule of lease cost
The following table provides details of the Company's total lease expense for the year ended December 31, 2022:
In thousandsYEAR ENDED
Dec. 31, 2022
YEAR ENDED
Dec. 31, 2021
Operating lease cost
Operating lease expense$12,699 $4,765 
Variable lease expense4,529 3,929 
Finance lease cost
Amortization of right-of-use assets1,288 388 
Interest on lease liabilities2,876 1,032 
Total lease expense$21,392 $10,114 
Other information
Operating cash flows outflows related to operating leases$12,816$7,706
Operating cash flows outflows related to financing leases$1,838$809
Financing cash flows outflows related to financing leases$$9,182
Right-of-use assets obtained in exchange for new finance lease liabilities$53,765$3,827
Right-of-use assets obtained in exchange for new operating lease liabilities$216,047$8,298
Weighted-average remaining lease term (excluding renewal options) - operating leases47.547.6
Weighted-average remaining lease term (excluding renewal options) -finance leases58.962.1
Weighted-average discount rate - operating leases5.8 %5.6 %
Weighted-average discount rate - finance leases5.0 %5.3 %