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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Operating Lease Revenue Recognized | The table below sets forth our composition of lease revenue recognized between fixed and variable lease revenue (in thousands):
|  |  |  | For the Years Ended December 31,
Lease revenue (1) |  |  |  | 2022 |  | 2021 |  | 2020
Fixed |  |  |  | $ | 453,907 |  |  | $ | 436,768 |  |  | $ | 404,244 |
Variable |  |  |  | 126,262 |  |  | 116,900 |  |  | 104,870 |
|  |  |  | $ | 580,169 |  |  | $ | 553,668 |  |  | $ | 509,114 |
(1)Excludes lease revenue from discontinued operations of which $1.5 million, $22.3 million and $21.3 million was fixed and $527,000, $8.2 million and $5.7 million was variable for 2022, 2021 and 2020, respectively.
Sales-type leases fixed contractual payments due | Fixed contractual payments due under our property leases were as follows (in thousands):
|  | As of December 31, 2022
Year Ending December 31, |  | Operating leases |  | Sales-type leases
2023 |  | $ | 443,092 |  |  | $ | 960 |
2024 |  | 415,914 |  |  | 960 |
2025 |  | 336,522 |  |  | 960 |
2026 |  | 269,778 |  |  | 960 |
2027 |  | 236,079 |  |  | 960 |
Thereafter |  | 1,114,240 |  |  | 2,596 |
Total contractual payments |  | $ | 2,815,625 |  |  | 7,396 |
Less: Amount representing interest |  |  |  | (1,730) |
Net investment in sales-type leases |  |  |  | $ | 5,666 |
Operating leases fixed contractual payments due | Fixed contractual payments due under our property leases were as follows (in thousands):
|  | As of December 31, 2022
Year Ending December 31, |  | Operating leases |  | Sales-type leases
2023 |  | $ | 443,092 |  |  | $ | 960 |
2024 |  | 415,914 |  |  | 960 |
2025 |  | 336,522 |  |  | 960 |
2026 |  | 269,778 |  |  | 960 |
2027 |  | 236,079 |  |  | 960 |
Thereafter |  | 1,114,240 |  |  | 2,596 |
Total contractual payments |  | $ | 2,815,625 |  |  | 7,396 |
Less: Amount representing interest |  |  |  | (1,730) |
Net investment in sales-type leases |  |  |  | $ | 5,666 |
Right-of-Use Assets and Lease Liabilities | The table below sets forth our property right-of-use assets and property lease liabilities on our consolidated balance sheets (in thousands):
|  |  |  | As of December 31,
Leases |  | Balance Sheet Location |  | 2022 |  | 2021
Right-of-use assets |  |  |  |  |  |
Operating leases - Property |  | Property - operating right-of-use assets |  | $ | 37,020 |  |  | $ | 38,361 |
Finance leases - Property |  | Prepaid expenses and other assets, net |  | 2,207 |  |  | 2,238 |
Total right-of-use assets |  |  |  | $ | 39,227 |  |  | $ | 40,599 |
Lease liabilities |  |  |  |  |  |
Operating leases - Property |  | Property - operating lease liabilities |  | $ | 28,759 |  |  | $ | 29,342 |
Lease Costs | The table below presents our total property lease cost (in thousands):
|  | Statement of Operations Location |  |  |  | For the Years Ended December 31,
Lease cost |  |  |  |  | 2022 |  | 2021 |  | 2020
Operating lease cost |  |  |  |  |  |  |  |  |  |
Property leases - fixed |  | Property operating expenses |  |  |  | $ | 4,114 |  |  | $ | 4,011 |  |  | $ | 2,413 |
Property leases - variable |  | Property operating expenses |  |  |  | 65 |  |  | 45 |  |  | 127 |
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of property right-of-use assets |  | Property operating expenses |  |  |  | 31 |  |  | 31 |  |  | 34 |
|  |  |  |  |  | $ | 4,210 |  |  | $ | 4,087 |  |  | $ | 2,574 |
The table below presents the effect of property lease payments on our consolidated statements of cash flows (in thousands):
|  |  | For the Years Ended December 31,
Supplemental cash flow information |  |  | 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows for operating leases |  |  | $ | 3,355 |  |  | $ | 3,206 |  |  | $ | 1,694 |
Financing cash flows for financing leases |  |  | $ | — |  |  | $ | 14 |  |  | $ | 674 |
Operating Lease, Liability, Maturity | Payments on property operating leases were due as follows (in thousands):
Year Ending December 31, |  | December 31, 2022 |  |  |  |  |  |
2023 |  | $ | 3,399 |  |  |  |  |  |  |  |  |  |  |
2024 |  | 3,451 |  |  |  |  |  |  |  |  |  |  |
2025 |  | 1,797 |  |  |  |  |  |  |  |  |  |  |
2026 |  | 1,578 |  |  |  |  |  |  |  |  |  |  |
2027 |  | 1,593 |  |  |  |  |  |  |  |  |  |  |
Thereafter |  | 124,341 |  |  |  |  |  |  |  |  |  |  |
Total lease payments |  | 136,159 |  |  |  |  |  |  |  |  |  |  |
Less: Amount representing interest |  | (107,400) |  |  |  |  |  |  |  |  |  |  |
Lease liability |  | $ | 28,759 |  |  |  |  |  |  |  |  |  |  |

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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=124258985&loc=SL77919391-209981 + Details
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