XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Leases (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Leases [Abstract] |
Schedule of Future Minimum Rent to Lessor from Operating Leases | Future rent to be received from the Company's investments in real estate assets under the terms of non-cancellable operating leases in effect as of September 30, 2022, for the three months ending December 31, 2022, and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands):
Year |  | Amount
Three months ending December 31, 2022 |  | $ | 42,292 |
2023 |  | 172,586 |
2024 |  | 173,961 |
2025 |  | 170,002 |
2026 |  | 163,163 |
Thereafter |  | 1,096,932 |
Total |  | $ | 1,818,936 |
Schedule of Future Minimum Rent from Lessee for Operating Leases | The future rent payments, discounted by the Company's IBRs, under non-cancellable leases in effect as of September 30, 2022, for the three months ending December 31, 2022, and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands):
Year |  | Operating |  | Finance
Three months ending December 31, 2022 |  | $ | 622 |  |  | $ | 34 |
2023 |  | 2,539 |  |  | 136 |
2024 |  | 2,606 |  |  | 141 |
2025 |  | 2,625 |  |  | 143 |
2026 |  | 2,572 |  |  | 143 |
Thereafter |  | 103,696 |  |  | 6,441 |
Total undiscounted rental payments |  | 114,660 |  |  | 7,038 |
Less imputed interest |  | (75,671) |  |  | (4,387) |
Total lease liabilities |  | $ | 38,989 |  |  | $ | 2,651 |
Schedule of Future Minimum Rent from Lessee for Finance Lease | The future rent payments, discounted by the Company's IBRs, under non-cancellable leases in effect as of September 30, 2022, for the three months ending December 31, 2022, and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands):
Year |  | Operating |  | Finance
Three months ending December 31, 2022 |  | $ | 622 |  |  | $ | 34 |
2023 |  | 2,539 |  |  | 136 |
2024 |  | 2,606 |  |  | 141 |
2025 |  | 2,625 |  |  | 143 |
2026 |  | 2,572 |  |  | 143 |
Thereafter |  | 103,696 |  |  | 6,441 |
Total undiscounted rental payments |  | 114,660 |  |  | 7,038 |
Less imputed interest |  | (75,671) |  |  | (4,387) |
Total lease liabilities |  | $ | 38,989 |  |  | $ | 2,651 |
Schedule of Lease Cost | The following table provides details of the Company's total lease costs for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands):
|  |  |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30,
|  | Location in Condensed Consolidated Statements of Comprehensive Income |  | 2022 |  | 2021 |  |  | 2022 |  | 2021 |  |
Operating lease costs: |  |  |  |  |  |  |  |  |  |  |  |  |
Ground lease costs |  | Rental expenses |  | $ | 575 |  |  | $ | 422 |  |  |  | $ | 1,442 |  |  | $ | 1,266 |  |  |
Ground lease costs (1) |  | Income from discontinued operations |  | — |  |  | 25 |  |  |  | — |  |  | 414 |  |  |
Corporate operating lease costs |  | General and administrative expenses |  | 182 |  |  | 297 |  |  |  | 559 |  |  | 825 |  |  |
Finance lease costs: |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use asset |  | Depreciation and amortization |  | $ | 5 |  |  | $ | 5 |  |  |  | $ | 15 |  |  | $ | 14 |  |  |
Interest on lease liability |  | Interest and other expense, net |  | 35 |  |  | 35 |  |  |  | 105 |  |  | 102 |  |  |
(1)Amount relates to lease costs attributable to operating ground leases related to data center properties disposed of in the Data Center Sale on July 22, 2021.

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=124258985&loc=SL77919396-209981 + Details
Name: | us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration