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Leases | 6 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
Leases |
1 4. | Leases
We lease office, retail and storage space to tenants, primarily under non-cancellable operating leases, which have terms generally ranging from five to fifteen years. Most of our leases provide tenants with extension options at either fixed or market rates and few of our leases provide tenants with options to early terminate, but such options generally impose an economic penalty on the tenant upon exercising. Our leases provide for (i) fixed payments of cash rents, which represents revenue each tenant pays in accordance with the terms of its respective lease and that is recognized on a straight-line basis over the non-cancellable term of the lease, and includes the effects of rent steps and rent abatements under the leases and (ii) variable payments of tenant reimbursements, which are recoveries of all or a portion of the operating expenses and real estate taxes of the property and is recognized in the same period as the expenses are incurred. The following table sets forth the details of our rental revenues.
| For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
(Amounts in thousands) | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Rental revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed | $ | 153,868 |  | (1) | $ | 161,146 |  |  | $ | 314,544 |  | (1) | $ | 321,464 |
Variable |  | 10,121 |  |  |  | 12,898 |  |  |  | 24,870 |  |  |  | 27,921 |
Total rental revenues | $ | 163,989 |  |  | $ | 174,044 |  |  | $ | 339,414 |  |  | $ | 349,385 |
(1) | Includes $11,309 of non-cash write-offs, primarily for straight-line rent receivables, and $2,051 of reserves for uncollectible accounts receivable in the three and six months ended June 30, 2020. |
The following table is a schedule of future undiscounted cash flows under non-cancelable operating leases in effect as of June 30, 2020, for the six-month period from July 1, 2020 through December 31, 2020 and each of the five succeeding years commencing January 1, 2021.
(Amounts in thousands) |  |  |
2020 |  | $ | 303,858 |
2021 |  |  | 637,562 |
2022 |  |  | 623,463 |
2023 |  |  | 600,458 |
2024 |  |  | 573,047 |
2025 |  |  | 512,692 |
Thereafter |  |  | 2,349,856 |
Total |  | $ | 5,600,936 |

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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