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Leases (Tables)

6 Months Ended

Jun. 30, 2023

The table below sets forth our composition of lease revenue recognized between fixed and variable lease revenue (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
Lease revenue (1)	2023		2022		2023		2022
Fixed	$	118,461	$	112,691	$	234,500	$	223,858
Variable	35,221		29,586		69,742		59,808
	$	153,682	$	142,277	$	304,242	$	283,666

(1)Excludes lease revenue from discontinued operations of which $1.5 million was fixed and $527,000 was variable for the six months ended June 30, 2022.

Right-of-use assets and lease liabilities

Our property right-of-use assets and property lease liabilities on our consolidated balance sheets consisted of the following (in thousands):


Leases	Balance Sheet Location	June 30, 2023		December 31, 2022
Right-of-use assets
Operating leases - Property	Property - operating right-of-use assets	$	41,652	$	37,020
Finance leases - Property	Prepaid expenses and other assets, net	2,603		2,207
Total right-of-use assets		$	44,255	$	39,227
Lease liabilities
Operating leases - Property	Property - operating lease liabilities	$	33,923	$	28,759
Finance leases - Property	Other liabilities	426		—
Total lease liabilities		$	34,349	$	28,759

Lease costs

The table below presents our total property lease costs (in thousands):


	Statement of Operations Location	For the Three Months Ended June 30,				For the Six Months Ended June 30,
Lease cost		2023		2022		2023		2022
Operating lease cost
Property leases - fixed	Property operating expenses	$	1,803	$	1,032	$	3,338	$	2,051
Property leases - variable	Property operating expenses	16		17		33		33
Finance lease cost
Amortization of property right-of-use assets	Property operating expenses	19		8		39		16
Interest on lease liabilities	Interest expense	10		—		23		—
		$	1,848	$	1,057	$	3,433	$	2,100

The table below presents the effect of property lease payments on our consolidated statements of cash flows (in thousands):


	For the Six Months Ended June 30,
Supplemental cash flow information	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	2,806	$	1,676
Operating cash flows for financing leases	$	23	$	—
Financing cash flows for financing leases	$	9	$	—

Operating lease, liability, maturity

Payments on property leases were due as follows (in thousands):


	June 30, 2023
Year Ending December 31,	Operating Leases		Finance Leases
2023 (1)	$	3,242	$	30
2024	6,623		61
2025	2,249		63
2026	1,662		65
2027	1,677		67
Thereafter	130,495		366
Total lease payments	145,948		652
Less: Amount representing interest	(112,025)		(226)
Lease liability	$	33,923	$	426

(1)Represents the six months ending December 31, 2023.