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Leases
 12 Months Ended
Dec. 31, 2023
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, 2023, 2022 and 2021:

    
202320222021
Leasing revenue - fixed payments$570,869 $551,459 $529,227 
Leasing revenue - variable payments235,455 248,433 251,930 
Recovery of doubtful accounts2,699 656 6,390 
$809,023 $800,548 $787,547 
The following table summarizes the future rental payments to the Company:
2024$483,136 
2025406,056 
2026332,250 
2027254,321 
2028197,629 
Thereafter685,240 
$2,358,632 

Lessee Leases:
The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2078, 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 2025.
The following table summarizes the lease costs for the years ended December 31, 2023, 2022 and 2021:
202320222021
Operating lease costs$13,608 $15,133 $14,611 
Finance lease costs:
   Amortization of ROU assets1,366 1,930 1,917 
   Interest on lease liabilities420 499 574 
$15,394 $17,562 $17,102 

The following table summarizes the future rental payments required under the leases as of December 31, 2023:
Year endingOperating
Leases		Finance Leases
2024$11,442 $9,478 
202511,626 1,400 
202611,743 — 
202711,914 — 
20288,303 — 
Thereafter74,831 — 
Total undiscounted rental payments129,859 10,878 
Less imputed interest(56,475)(273)
Total lease liabilities$73,384 $10,605 

The Company's weighted average remaining lease term of its operating and finance leases at December 31, 2023 was 24.1 years and 0.7 years, respectively. The Company's weighted average incremental borrowing rate of its operating and finance leases at December 31, 2023 was 7.1% and 3.6%, 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, 2023, 2022 and 2021:

    
202320222021
Leasing revenue - fixed payments$570,869 $551,459 $529,227 
Leasing revenue - variable payments235,455 248,433 251,930 
Recovery of doubtful accounts2,699 656 6,390 
$809,023 $800,548 $787,547 
The following table summarizes the future rental payments to the Company:
2024$483,136 
2025406,056 
2026332,250 
2027254,321 
2028197,629 
Thereafter685,240 
$2,358,632 

Lessee Leases:
The Company has certain properties that are subject to non-cancelable operating leases. The leases expire at various times through 2078, 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 2025.
The following table summarizes the lease costs for the years ended December 31, 2023, 2022 and 2021:
202320222021
Operating lease costs$13,608 $15,133 $14,611 
Finance lease costs:
   Amortization of ROU assets1,366 1,930 1,917 
   Interest on lease liabilities420 499 574 
$15,394 $17,562 $17,102 

The following table summarizes the future rental payments required under the leases as of December 31, 2023:
Year endingOperating
Leases		Finance Leases
2024$11,442 $9,478 
202511,626 1,400 
202611,743 — 
202711,914 — 
20288,303 — 
Thereafter74,831 — 
Total undiscounted rental payments129,859 10,878 
Less imputed interest(56,475)(273)
Total lease liabilities$73,384 $10,605 

The Company's weighted average remaining lease term of its operating and finance leases at December 31, 2023 was 24.1 years and 0.7 years, respectively. The Company's weighted average incremental borrowing rate of its operating and finance leases at December 31, 2023 was 7.1% and 3.6%, respectively.