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Leases (Tables)
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Schedule of Lease Cost

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2019

 

 

2018

 

2019

 

 

2018

Lease Cost

 

 

 

 

(Not applicable)

 

 

 

 

 

(Not applicable)

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

   Amortization of right-of-use assets

$

565

 

 

 

 

$

1,603

 

 

 

   Interest on lease liabilities

 

978

 

 

 

 

 

2,755

 

 

 

   Subtotal

 

1,543

 

 

 

 

 

4,358

 

 

 

Operating lease cost

 

1,394

 

 

 

 

 

3,037

 

 

 

Variable lease cost

 

62

 

 

 

 

 

119

 

 

 

Total lease cost

$

2,999

 

 

 

 

$

7,514

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Information

 

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - finance leases (years)

 

 

 

 

 

 

 

42.9

 

 

 

Weighted-average remaining lease term - operating leases (years)

 

 

 

 

 

 

 

33.7

 

 

 

Weighted-average discount rate - finance leases

 

 

 

 

 

 

 

4.5

%

 

 

Weighted-average discount rate - operating leases

 

 

 

 

 

 

 

5.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Future Minimum Rental Revenues and Payments for Operating and Capital Leases

The scheduled future minimum (i) rental revenues from rental properties under the terms of non-cancelable tenant leases greater than one year (assuming no new or renegotiated leases or option extensions for such premises) and (ii) rental payments under the terms of all non-cancelable operating and finance leases in which the Company is the lessee, principally for office space, land and equipment, as of September 30, 2019, are summarized as follows (in thousands):

 

Year Ending December 31,

 

Minimum Rental

Revenues

 

 

Minimum Rental

Payments (a, b)

 

2019 (Remainder)

 

$

48,697

 

 

$

1,821

 

2020

 

 

205,710

 

 

 

7,139

 

2021

 

 

193,653

 

 

 

7,073

 

2022

 

 

173,664

 

 

 

7,082

 

2023

 

 

152,273

 

 

 

7,075

 

Thereafter

 

 

652,003

 

 

 

334,761

 

Total

 

$

1,426,000

 

 

$

364,951