Revenue Recognition

Operating Leases

The majority of revenue recognized from the Company’s retail properties consists of rents received under long-term operating leases. In addition to base rent paid monthly in advance, some leases provide for the reimbursement of the tenant’s pro rata share of certain operating expenses incurred by the landlord including real estate taxes, special assessments, insurance, utilities, common area maintenance, management fees and certain capital repairs, subject to the terms of the respective lease. Certain other tenants are subject to net leases which provide that the tenant is responsible for fixed base rent as well as all costs and expenses associated with occupancy. Under net leases where all expenses are paid directly by the tenant rather than the landlord, such expenses are not included in the consolidated statements of operations and comprehensive income. Under leases where all expenses are paid by the landlord, subject to reimbursement by the tenant, the expenses are included within property operating expenses or real estate taxes and reimbursements are included in tenant recovery income on the consolidated statements of operations and comprehensive income. The remaining lease terms range from one year to forty-one years.

Minimum lease payments to be received under long-term operating leases and short-term specialty leases, excluding additional percentage rent based on tenants' sales volume and tenant reimbursements of certain operating expenses, and assuming no exercise of renewal options or early termination rights, are as follows:



For the year ending December 31,	Minimum Lease Payments
2019	$	151,874
2020	139,290
2021	124,366
2022	103,204
2023	83,744
Thereafter	282,629
Total	$	885,107

Contracts with Customers

During the years ended December 31, 2018, 2017 and 2016, the Company earned other fee income of $4,390, $4,222, and $4,348, respectively, which are fees derived from services provided to IAGM Retail Fund I, LLC ("IAGM"), an unconsolidated retail joint venture partnership between the Company as 55% owner and PGGM Private Real Estate Fund ("PGGM"), as disclosed in "Note 6. Investment in Consolidated and Unconsolidated Entities", and therefore deemed to be related party transactions. The property management, asset management, leasing and other services are provided over the term of the contract which has a remaining original duration through 2023. The Company had receivables of $778, $515 and $513 as of December 31, 2018, 2017 and 2016, respectively, which are included in deferred costs and other assets, net on the consolidated balance sheets. The following table reflects the disaggregation of other fee income:



	Year Ended December 31,
	2018		2017		2016
Property management fee	$	2,626	$	2,794	$	2,701
Asset management fee	1,080		1,213		1,213
Leasing commissions and other fees	684		215		434
Other fee income	$	4,390	$	4,222	$	4,348