Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 97

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 97
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 operating and sales-type leases. The minimum rental amounts due under the leases are generally subject to scheduled fixed increases or adjustments. The leases generally also require that the tenants reimburse us for increases in certain operating costs and real estate taxes above their base year costs.The components of lease income from operating leases in our consolidated statements of operations during the three months ended March 31, 2025 and 2024 were as follows (in thousands):Three Months Ended March 31,20252024Fixed lease payments$146,127 $128,252 Variable lease payments18,501 13,301 Total lease payments (1)$164,628 $141,553 Amortization of acquired above and below-market leases(1,609)(49)Total rental revenue$163,019 $141,504 (1)Amounts include $46.1 million and $48.4 million of sublease income during the three months ended March 31, 2025,  and 2024 respectively, The components of lease income from sales-type leases during the three months ended March 31, 2025 and 2024 were as follows (in thousands):Three Months Ended March 31,20252024Interest income (1)$1,134 $1,120 (1)These amounts are included in Interest expense, net of interest income in our consolidated statements of operations.

19. Commitments and Contingencies

Legal ProceedingsAs of March 31, 2025, the Company and the Operating Partnership were not involved in any material litigation nor, to management's knowledge, was any material litigation threatened against us or our portfolio which if adversely determined could have a material adverse impact on us.Environmental MattersOur management believes that the properties are in compliance in all material respects with applicable Federal, state and local ordinances and regulations regarding environmental issues. Management is not aware of any environmental liability that it believes would have a materially adverse impact on our financial position, results of operations or cash flows. Management is unaware of any instances in which it would incur significant environmental cost if any of our properties were sold.

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)March 31, 2025(unaudited)

20. Segment Information

The Company has three operating and reportable segments, real estate, debt and preferred equity investments, and SUMMIT. The results of these segments are provided to and reviewed by the CEO, our