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Revenue Recognition | 12 Months Ended
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Dec. 31, 2018
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | REVENUE RECOGNITION Our revenues consist of property rentals and expense reimbursements. We have the following revenue sources and revenue recognition policies:
• | Base Rent is revenue arising from tenant leases. These rents are recognized over the non-cancelable term of the related leases on a straight-line basis, which includes the effects of rent steps and rent abatements. We commence rental revenue recognition when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a tenant improvement allowance for improvements that are owned by the tenant, we recognize the allowance as a reduction of rental revenue on a straight-line basis over the term of the lease.
• | Percentage Rent is revenue arising from retail tenant leases that is contingent upon the sales of tenants exceeding defined thresholds. These rents are recognized only after the contingency has been removed (i.e., when tenant sales thresholds have been achieved).
• | Parking Revenue arising from the rental of parking spaces at our properties. This income is recognized as the services are provided.
• | Operating Expense Reimbursements is revenue arising from tenant leases which provide for the recovery of all or a portion of the operating expenses and real estate taxes of our properties. Revenue is recognized in the same period as the related expenses are incurred.
• | Tenant Services is revenue arising from sub-metered electric, elevator and other services provided to tenants at their request. This revenue is recognized as the services are transferred.
Parking revenue and tenant services income represent revenue recognized from contracts with customers and are recognized in accordance with ASC 606. Base rent, percentage rent and operating expense reimbursements are recognized in accordance with ASC Topic 840, Leases. The following is a summary of revenue sources for the years ended December 31, 2018, 2017 and 2016.
|  | For the Year Ended December 31,
(Amounts in thousands) |  | 2018 |  | 2017 |  | 2016
Base rent |  | $ | 146,881 |  |  | $ | 146,833 |  |  | $ | 145,293 |
Percentage rent |  | 234 |  |  | 174 |  |  | 182 |
Parking revenue |  | 5,680 |  |  | 5,850 |  |  | 5,969 |
Property rentals |  | 152,795 |  |  | 152,857 |  |  | 151,444 |
Operating expense reimbursements |  | 76,273 |  |  | 73,757 |  |  | 71,699 |
Tenant services |  | 3,757 |  |  | 3,960 |  |  | 3,793 |
Expense reimbursements |  | 80,030 |  |  | 77,717 |  |  | 75,492 |
Total revenues |  | $ | 232,825 |  |  | $ | 230,574 |  |  | $ | 226,936 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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