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Leases (Tables)
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Future Minimum Operating Lease Payments Receivable
Future lease payments under the non-cancelable operating leases, excluding any reimbursements and one sale-type lease, as of September 30, 2023 were as follows:
Dollars in thousandsOPERATING
2023$231,698 
2024874,750 
2025770,520 
2026666,294 
2027552,111 
2028 and thereafter1,918,689 
$5,014,062 
Schedule of Future Minimum Operating Lease Payments
The Company’s future lease payments (primarily for its 165 non-prepaid ground leases) as of September 30, 2023 were as follows:
Dollars in thousandsOPERATINGFINANCING
2023$3,288 $513 
202414,062 2,182 
202514,253 2,218 
202614,392 2,255 
202714,630 2,294 
2028 and thereafter922,019 396,397 
Total undiscounted lease payments982,644 405,859 
Discount(709,325)(331,772)
Lease liabilities$273,319 $74,087 
Schedule of Future Minimum Financing Lease Payments
The Company’s future lease payments (primarily for its 165 non-prepaid ground leases) as of September 30, 2023 were as follows:
Dollars in thousandsOPERATINGFINANCING
2023$3,288 $513 
202414,062 2,182 
202514,253 2,218 
202614,392 2,255 
202714,630 2,294 
2028 and thereafter922,019 396,397 
Total undiscounted lease payments982,644 405,859 
Discount(709,325)(331,772)
Lease liabilities$273,319 $74,087 
Schedule of Lease Cost
The following table provides details of the Company's total lease expense for the three and nine months ended September 30, 2023 and 2022:
THREE MONTHS ENDED
September 30,
NINE MONTHS ENDED
September 30,
Dollars in thousands2023202220232022
Operating lease cost
Operating lease expense$5,312 $4,204 $15,748 $6,613 
Variable lease expense2,417 1,061 6,788 3,123 
Finance lease cost
Amortization of right-of-use assets387 381 1,161 884 
Interest on lease liabilities928 861 2,770 1,913 
Total lease expense$9,044 $6,507 $26,467 $12,533 
Other information
Operating cash flows outflows related to operating leases$5,281 $3,847 $16,475 $8,443 
Operating cash flows outflows related to financing leases$524 $476 $1,592 $1,262 
Financing cash flows outflows related to financing leases$$$12 $
Right-of-use assets obtained in exchange for new finance lease liabilities$— $9,874 $— $50,463 
Right-of-use assets obtained in exchange for new operating lease liabilities$— $198,261 $— $198,261 
Weighted-average years remaining lease term (excluding renewal options) - operating leases47.550.2
Weighted-average years remaining lease term (excluding renewal options) - finance leases58.260.1
Weighted-average discount rate - operating leases5.8 %5.7 %
Weighted-average discount rate - finance leases5.0 %5.0 %