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Leases (Tables)
9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Schedule of Future Minimum Operating Lease Payments Receivable
Future lease payments under the non-cancelable operating leases, excluding any reimbursements and one sales-type lease, as of September 30, 2024, were as follows:
Dollars in thousandsOPERATING
2024$218,129 
2025836,208 
2026748,331 
2027629,408 
2028513,690 
2029 and thereafter1,683,468 
$4,629,234 
Schedule of Future Minimum Operating Lease Payments
The Company’s future lease payments (primarily for its 144 non-prepaid ground leases) as of September 30, 2024, were as follows:
Dollars in thousandsOPERATINGFINANCING
2024$2,930 $816 
202512,769 2,070 
202612,900 2,106 
202713,103 2,145 
202813,239 2,177 
2029 and thereafter688,868 385,382 
Total undiscounted lease payments743,809 394,696 
Discount(513,884)(322,809)
Lease liabilities$229,925 $71,887 
Schedule of Future Minimum Financing Lease Payments
The Company’s future lease payments (primarily for its 144 non-prepaid ground leases) as of September 30, 2024, were as follows:
Dollars in thousandsOPERATINGFINANCING
2024$2,930 $816 
202512,769 2,070 
202612,900 2,106 
202713,103 2,145 
202813,239 2,177 
2029 and thereafter688,868 385,382 
Total undiscounted lease payments743,809 394,696 
Discount(513,884)(322,809)
Lease liabilities$229,925 $71,887 
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, 2024 and 2023:
THREE MONTHS ENDED
September 30,
NINE MONTHS ENDED
September 30,
Dollars in thousands2024202320242023
Operating lease cost
Operating lease expense$4,484 $5,312 $13,549 $15,748 
Variable lease expense1,240 2,417 3,782 6,788 
Finance lease cost
Amortization of right-of-use assets383 387 1,162 1,161 
Interest on lease liabilities934 928 2,814 2,770 
Total lease expense$7,041 $9,044 $21,307 $26,467 
Other information
Operating cash flows outflows related to operating leases$3,513 $5,281 $12,441 $16,475 
Operating cash flows outflows related to financing leases$504 $524 $1,658 $1,592 
Financing cash flows outflows related to financing leases$$$13 $12 
Right-of-use assets obtained in exchange for new operating lease liabilities$1,294 $— $3,855 $— 
Weighted-average years remaining lease term (excluding renewal options) - operating leases44.547.5
Weighted-average years remaining lease term (excluding renewal options) - finance leases58.058.2
Weighted-average discount rate - operating leases5.7 %5.8 %
Weighted-average discount rate - finance leases5.0 %5.0 %