XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.24.3

Lease Accounting (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Leases [Abstract] |
Operating Lease, Lease Income | The following table presents the Company’s classification of rental revenue for its operating leases and sales-type lease for the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Classification |  | 2024 |  | 2023 |  | 2024 |  | 2023
Fixed |  | $ | 69,708 |  |  | $ | 68,849 |  |  | $ | 209,468 |  |  | $ | 205,984 |
Sales-type lease income |  | 1,863 |  |  | 1,865 |  |  | 5,679 |  |  | 5,546 |
Variable(1) |  | 12,978 |  |  | 13,130 |  |  | 39,377 |  |  | 40,796 |
Total |  | $ | 84,549 |  |  | $ | 83,844 |  |  | $ | 254,524 |  |  | $ | 252,326 |
(1) Primarily comprised of tenant reimbursements.
Lessor, Operating Lease, Payments to be Received, Maturity | Future fixed rental receipts for operating and sales-type leases, assuming no new or re-negotiated leases as of September 30, 2024 were as follows:
| Operating | Sales-Type
2024 - remainder | $ | 68,761 |  | $ | 1,269 |
2025 | 273,774 |  | 5,435 |
2026 | 260,207 |  | 5,652 |
2027 | 226,265 |  | 5,878 |
2028 | 192,161 |  | 6,114 |
2029 | 165,174 |  | 6,358 |
Thereafter | 459,784 |  | 721,541 |
Total | $ | 1,646,126 |  | $ | 752,247 |
Difference between undiscounted cash flow and present value |  | (686,893) |
Investment in a sales-type lease |  | $ | 65,354 |
Assets and Liabilities, Lessee | Supplemental information related to operating leases is as follows:
|  | Nine Months Ended
|  | September 30, 2024 |  | September 30, 2023
Weighted-average remaining lease term |  |  |
Operating leases (years) | 8.9 |  | 9.3
Weighted-average discount rate |  |  |
Operating leases | 4.1 | % |  | 4.1 | %
Lease, Cost | The components of lease expense for the nine months ended September 30, 2024 and 2023 were as follows:
Income Statement Classification | Fixed |  | Variable |  | Total
2024: |  |  |  |  |
Property operating | $ | 2,628 |  |  | $ | 15 |  |  | $ | 2,643 |
General and administrative(1) | 1,213 |  |  | 187 |  |  | 1,400 |
Total | $ | 3,841 |  |  | $ | 202 |  |  | $ | 4,043 |
2023: |  |  |  |  |
Property operating | $ | 2,657 |  |  | $ | 7 |  |  | $ | 2,664 |
General and administrative | 1,144 |  |  | 215 |  |  | 1,359 |
Total | $ | 3,801 |  |  | $ | 222 |  |  | $ | 4,023 |
(1) The general and administrative lease expense excludes a reduction of $492 to lease expense for the sublease of the Company's office space in New York, New York.
Lessee, Operating Lease, Liability, Maturity | The following table shows the Company's maturity analysis of its operating lease liabilities as of September 30, 2024:
|  | Operating Leases
2024 - remainder |  | $ | 1,225 |
2025 |  | 5,098 |
2026 |  | 4,125 |
2027 |  | 3,643 |
2028 |  | 1,031 |
2029 |  | 193 |
Thereafter |  | 5,287 |
Total lease payments |  | $ | 20,602 |
Less: Imputed interest |  | (3,848) |
Present value of lease liabilities |  | $ | 16,754 |

X
- Definition Assets and Liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | lxp_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | lxp_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
Name: | us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A + Details
Name: | us-gaap_OperatingLeaseLeaseIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration