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LEASES (Tables)

12 Months Ended

Dec. 31, 2021

LEASES

Schedule of components of lease revenues

The components of lease revenues are as follows (amounts in thousands):

​	​	​	​	​	​	​	​	​	​	​
​	​	​	Year Ended December 31,
​			2021			2020			2019
Fixed lease revenues	​	​	$	70,387	​	$	69,823		$	70,788
Variable lease revenues	​	​		11,008	​		11,285	​		12,084
Lease revenues (a)	​		$	81,395	​	$	81,108	​	$	82,872

(a) Excludes $785, $780 and $914 of amortization related to lease intangible assets and liabilities for 2021, 2020 and 2019, respectively.

Schedule of minimum future contractual rents to be received

As of December 31, 2021, the minimum future contractual rents to be received on non-cancellable operating leases are included in the table below (amounts in thousands). The minimum future contractual rents do not include (i) straight-line rent or amortization of intangibles, (ii) COVID-19 lease deferral repayments accrued to rental income in 2020, (iii) $1,449,000 of COVID-19 lease deferral repayments due from Regal Cinemas which were not accrued to rental income and (iv) variable lease payments as described above.

​	​	​	​
For the year ended December 31,		​	​
2022	​	$	68,365
2023	​		64,478
2024	​		55,868
2025	​		51,484
2026	​		47,306
Thereafter	​		153,783
Total	​	$	441,284

Schedule of minimum future lease payments

As of December 31, 2021, the minimum future lease payments related to the operating ground and office leases are as follows (amounts in thousands):

​

​	​	​	​
For the year ended December 31,		​	​
2022	​	$	506
2023	​		507
2024	​		557
2025	​		626
2026	​		627
Thereafter	​		6,220
Total undiscounted cash flows	​	$	9,043
Present value discount	​		(1,831)
Lease liability	​	$	7,212

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- References

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- 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 http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980

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- 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 http://asc.fasb.org/extlink&oid=124258985&loc=SL77919396-209981

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- Definition

Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124258985&loc=SL77919372-209981

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 50
-Paragraph 6A
-URI http://asc.fasb.org/extlink&oid=124502072&loc=SL77927221-108306

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