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Future Minimum Rents and Lease Payments (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Future Minimum Base Rents Receivable
The following table summarizes the future minimum base rents (excluding tenant reimbursements for operating expenses and termination fees related to tenants exercising early termination options) for properties as of December 31, 2022:
For the Year Ended December 31,Non-cancellableSubject to Early Termination Options
Total(1)
2023$637,662 $1,019 $638,681 
2024592,404 3,737 596,141 
2025453,932 38,572 492,504 
2026391,510 47,659 439,169 
2027325,477 54,287 379,764 
Thereafter1,170,616 121,205 1,291,821 
TOTAL
$3,571,601 $266,479 $3,838,080 
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1.Excludes rents under leases at the Company’s studio properties with terms of one year or less.
Future Minimum Lease Payments Due
The following table provides information regarding the Company’s future minimum lease payments for its operating leases (including the impact of the extension options which the Company is reasonably certain to exercise) as of December 31, 2022:
For the Year Ended December 31,
Lease Payments(1)
2023$39,054 
202439,261 
202539,485 
202637,879 
202735,184 
Thereafter554,525 
Total operating lease payments745,388 
Less: interest portion(345,587)
PRESENT VALUE OF OPERATING LEASE LIABILITIES$399,801 
_____________ 
1.Future minimum lease payments for operating leases denominated in a foreign currency are translated to U.S. dollars using the exchange rate in effect as of the financial statement date.
Rental Expense
For the Year Ended December 31,
202220212020
Variable rental expense$9,854 $10,405 $8,944 
Minimum rental expense$31,003 $21,482 $19,964