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Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases:
Lessor Leases:
The Company leases its Centers under agreements that are classified as operating leases. These leases generally include minimum rents, percentage rents and recoveries of real estate taxes, insurance and other shopping center operating expenses. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. Percentage rents are recognized and accrued when tenants' specified sales targets have been met. Estimated recoveries from certain tenants for their pro rata share of real estate taxes, insurance and other shopping center operating expenses are recognized as revenues in the period the applicable expenses are incurred. Other tenants pay a fixed rate and these tenant recoveries are recognized as revenues on a straight-line basis over the term of the related leases. For leasing revenues in which collectability of substantially all of the rents is not considered probable, lease income is recognized on a cash basis and all previously recognized tenant accounts receivables, including straight-line rent, are fully reserved in the period in which the lease income is determined not to be probable of collection.
The following table summarizes the components of leasing revenue for the years ended December 31, 2022, 2021 and 2020:

    
202220212020
Leasing revenue - fixed payments$551,459 $529,227 $592,858 
Leasing revenue - variable payments248,433 251,930 191,715 
Recovery of (provision for) doubtful accounts656 6,390 (44,250)
$800,548 $787,547 $740,323 
The following table summarizes the future rental payments to the Company:
2023$416,775 
2024352,926 
2025282,439 
2026228,421 
2027172,400 
Thereafter537,759 
$1,990,720 

Lessee Leases:
The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. In addition, the Company has five finance leases that expire at various times through 2024.
The following table summarizes the lease costs for the years ended December 31, 2022, 2021 and 2020:
202220212020
Operating lease costs$15,133 $14,611 $15,332 
Finance lease costs:
   Amortization of ROU assets1,930 1,917 1,905 
   Interest on lease liabilities499 574 546 
$17,562 $17,102 $17,783 

The following table summarizes the future rental payments required under the leases as of December 31, 2022:
Year endingOperating
Leases		Finance Leases
2023$12,255 $2,450 
202411,563 9,478 
202511,746 1,400 
202611,864 — 
202712,035 — 
Thereafter109,158 — 
Total undiscounted rental payments168,621 13,328 
Less imputed interest(86,315)(723)
Total lease liabilities$82,306 $12,605 

The Company's weighted average remaining lease term of its operating and finance leases at December 31, 2022 was 32.3 years and 1.7 years, respectively. The Company's weighted average incremental borrowing rate of its operating and finance leases at December 31, 2022 was 7.4% and 3.7%, respectively.
Leases Leases:
Lessor Leases:
The Company leases its Centers under agreements that are classified as operating leases. These leases generally include minimum rents, percentage rents and recoveries of real estate taxes, insurance and other shopping center operating expenses. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. Percentage rents are recognized and accrued when tenants' specified sales targets have been met. Estimated recoveries from certain tenants for their pro rata share of real estate taxes, insurance and other shopping center operating expenses are recognized as revenues in the period the applicable expenses are incurred. Other tenants pay a fixed rate and these tenant recoveries are recognized as revenues on a straight-line basis over the term of the related leases. For leasing revenues in which collectability of substantially all of the rents is not considered probable, lease income is recognized on a cash basis and all previously recognized tenant accounts receivables, including straight-line rent, are fully reserved in the period in which the lease income is determined not to be probable of collection.
The following table summarizes the components of leasing revenue for the years ended December 31, 2022, 2021 and 2020:

    
202220212020
Leasing revenue - fixed payments$551,459 $529,227 $592,858 
Leasing revenue - variable payments248,433 251,930 191,715 
Recovery of (provision for) doubtful accounts656 6,390 (44,250)
$800,548 $787,547 $740,323 
The following table summarizes the future rental payments to the Company:
2023$416,775 
2024352,926 
2025282,439 
2026228,421 
2027172,400 
Thereafter537,759 
$1,990,720 

Lessee Leases:
The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. In addition, the Company has five finance leases that expire at various times through 2024.
The following table summarizes the lease costs for the years ended December 31, 2022, 2021 and 2020:
202220212020
Operating lease costs$15,133 $14,611 $15,332 
Finance lease costs:
   Amortization of ROU assets1,930 1,917 1,905 
   Interest on lease liabilities499 574 546 
$17,562 $17,102 $17,783 

The following table summarizes the future rental payments required under the leases as of December 31, 2022:
Year endingOperating
Leases		Finance Leases
2023$12,255 $2,450 
202411,563 9,478 
202511,746 1,400 
202611,864 — 
202712,035 — 
Thereafter109,158 — 
Total undiscounted rental payments168,621 13,328 
Less imputed interest(86,315)(723)
Total lease liabilities$82,306 $12,605 

The Company's weighted average remaining lease term of its operating and finance leases at December 31, 2022 was 32.3 years and 1.7 years, respectively. The Company's weighted average incremental borrowing rate of its operating and finance leases at December 31, 2022 was 7.4% and 3.7%, respectively.