2016 Q4 Form 10-K Financial Statement

#000103544317000022 Filed on January 31, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4 2015 Q3
Revenue $249.2M $224.0M $218.6M
YoY Change 11.26% 18.7% 17.78%
Cost Of Revenue $73.20M $68.90M $68.80M
YoY Change 6.24% 21.09% 19.86%
Gross Profit $175.9M $155.0M $149.8M
YoY Change 13.48% 17.6% 16.85%
Gross Profit Margin 70.6% 69.21% 68.52%
Selling, General & Admin $17.50M $15.10M $15.10M
YoY Change 15.89% 8.63% 19.84%
% of Gross Profit 9.95% 9.74% 10.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $95.20M $72.30M $67.90M
YoY Change 31.67% 24.66% 16.27%
% of Gross Profit 54.12% 46.65% 45.33%
Operating Expenses $112.7M $87.40M $83.10M
YoY Change 28.95% 21.73% 17.04%
Operating Profit $63.20M $67.60M $66.70M
YoY Change -6.51% 12.67% 16.61%
Interest Expense -$31.10M -$28.40M $27.68M
YoY Change 9.51% 31.48% 34.66%
% of Operating Profit -49.21% -42.01% 41.5%
Other Income/Expense, Net
YoY Change
Pretax Income $19.80M $43.00M $39.70M
YoY Change -53.95% -420.9% 9.97%
Income Tax
% Of Pretax Income
Net Earnings $15.30M $42.00M $39.53M
YoY Change -63.57% -423.08% 9.98%
Net Earnings / Revenue 6.14% 18.75% 18.08%
Basic Earnings Per Share
Diluted Earnings Per Share $189.4K $585.0K $552.4K
COMMON SHARES
Basic Shares Outstanding 79.41M shares 72.50M shares 71.50M shares
Diluted Shares Outstanding 71.50M shares

Balance Sheet

Concept 2016 Q4 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $467.5M $478.6M $407.0M
YoY Change -2.31% 48.44% 66.37%
Cash & Equivalents $125.0M $125.1M $76.38M
Short-Term Investments $342.5M $353.5M $330.6M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $10.00M $10.00M $10.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $135.0M $135.0M $86.00M
YoY Change 0.0% 39.18% 10.26%
LONG-TERM ASSETS
Property, Plant & Equipment $12.84M $13.68M $7.528B
YoY Change -6.16% 43.16% 6.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $393.0M $481.0M $126.5M
YoY Change -18.3% 309.69% 10.78%
Other Assets $548.0M $502.0M $527.0M
YoY Change 9.16% 8.42% 17.11%
Total Long-Term Assets $10.22B $8.746B $8.651B
YoY Change 16.85% 8.79% 8.93%
TOTAL ASSETS
Total Short-Term Assets $135.0M $135.0M $86.00M
Total Long-Term Assets $10.22B $8.746B $8.651B
Total Assets $10.35B $8.881B $8.737B
YoY Change 16.6% 9.16% 8.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $366.0M $240.0M $380.0M
YoY Change 52.5% 9.59% -24.75%
Accrued Expenses $84.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $443.0M $302.0M $525.0M
YoY Change 46.69% 8.63% -6.75%
LONG-TERM LIABILITIES
Long-Term Debt $4.164B $3.936B $4.314B
YoY Change 5.79% 6.99% 23.22%
Other Long-Term Liabilities $365.0M $350.0M $122.0M
YoY Change 4.29% 29.63%
Total Long-Term Liabilities $4.529B $4.286B $4.436B
YoY Change 5.67% 8.53% 26.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $443.0M $302.0M $525.0M
Total Long-Term Liabilities $4.529B $4.286B $4.436B
Total Liabilities $4.973B $4.587B $4.962B
YoY Change 8.41% 8.53% 22.12%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $877.0K $725.0K $718.0K
YoY Change 20.97% 1.4% 0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.896B $3.975B $3.759B
YoY Change
Total Liabilities & Shareholders Equity $10.35B $8.881B $8.737B
YoY Change 16.6% 9.16% 8.94%

Cashflow Statement

Concept 2016 Q4 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $15.30M $42.00M $39.53M
YoY Change -63.57% -423.08% 9.98%
Depreciation, Depletion And Amortization $95.20M $72.30M $67.90M
YoY Change 31.67% 24.66% 16.27%
Cash From Operating Activities $100.6M $96.20M $95.00M
YoY Change 4.57% 21.46% -14.1%
INVESTING ACTIVITIES
Capital Expenditures -$902.9M -$202.0M -$247.3M
YoY Change 346.98% 15.1% 74.65%
Acquisitions
YoY Change
Other Investing Activities $121.6M $37.00M $5.900M
YoY Change 228.65% 146.67% -109.9%
Cash From Investing Activities -$781.3M -$164.9M -$241.5M
YoY Change 373.8% 2.74% 20.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 647.8M 117.5M 154.5M
YoY Change 451.32% 15.99% 57.49%
NET CHANGE
Cash From Operating Activities 100.6M 96.20M 95.00M
Cash From Investing Activities -781.3M -164.9M -241.5M
Cash From Financing Activities 647.8M 117.5M 154.5M
Net Change In Cash -32.90M 48.80M 8.000M
YoY Change -167.42% 144.0% 5.26%
FREE CASH FLOW
Cash From Operating Activities $100.6M $96.20M $95.00M
Capital Expenditures -$902.9M -$202.0M -$247.3M
Free Cash Flow $1.003B $298.2M $342.3M
YoY Change 236.52% 17.08% 35.73%

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2800000 USD
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0.01
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725000 USD
CY2016Q4 us-gaap Common Stock Value
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1893000 USD
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16102000 USD
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141684000 USD
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195929000 USD
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237163000 USD
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86914000 USD
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281792000 USD
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711394000 USD
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0.0351
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204684000 USD
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234518000 USD
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396765000 USD
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430455000 USD
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192081000 USD
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195937000 USD
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11909000 USD
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14239000 USD
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280570000 USD
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335974000 USD
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1765000 USD
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2003000 USD
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2500000 USD
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3713000 USD
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3302000 USD
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224096000 USD
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261289000 USD
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313390000 USD
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0 USD
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0 USD
CY2015 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
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0 USD
CY2016 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
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0 USD
CY2014 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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219164000 USD
CY2015 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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261232000 USD
CY2016 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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278408000 USD
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206967000 USD
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221297000 USD
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257563000 USD
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62005000 USD
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76914000 USD
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25698000 USD
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CY2016 us-gaap Dividends Preferred Stock
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20223000 USD
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25698000 USD
CY2015 us-gaap Dividends Preferred Stock Cash
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24986000 USD
CY2016 us-gaap Dividends Preferred Stock Cash
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20223000 USD
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1.01
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0.46
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0.49
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1.63
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0.07
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-1.99
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-2493000 USD
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-255000 USD
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-1460000 USD
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7583000 USD
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9177000 USD
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11604000 USD
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74100000 USD
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P4Y
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549000 USD
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873000 USD
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406000 USD
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27997000 USD
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63408000 USD
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13142000 USD
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12913000 USD
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1838000 USD
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12426000 USD
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3715000 USD
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2326000 USD
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18942000 USD
CY2016 us-gaap Gain Loss On Investments
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17133000 USD
CY2014 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
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6403000 USD
CY2015 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
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0 USD
CY2016 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
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90000 USD
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11613000 USD
CY2015 us-gaap Gain On Sale Of Investments
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35035000 USD
CY2016 us-gaap Gain On Sale Of Investments
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28530000 USD
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-525000 USD
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-189000 USD
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-3230000 USD
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1838000 USD
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12426000 USD
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3715000 USD
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53530000 USD
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59621000 USD
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63884000 USD
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51675000 USD
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23250000 USD
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209261000 USD
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100341000 USD
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144260000 USD
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99142000 USD
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-43000 USD
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0 USD
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146157000 USD
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-49889000 USD
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0.99
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1.63
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-1.99
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1233000 USD
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0.02
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0.00
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.00
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IncomeLossFromEquityMethodInvestments
554000 USD
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IncomeLossFromEquityMethodInvestments
1651000 USD
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IncomeLossFromEquityMethodInvestments
-184000 USD
CY2014 us-gaap Income Loss From Subsidiaries Before Tax
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0 USD
CY2015 us-gaap Income Loss From Subsidiaries Before Tax
IncomeLossFromSubsidiariesBeforeTax
0 USD
CY2016 us-gaap Income Loss From Subsidiaries Before Tax
IncomeLossFromSubsidiariesBeforeTax
0 USD
CY2014 us-gaap Income Tax Reconciliation Disposition Of Assets
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24174000 USD
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66102000 USD
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31187000 USD
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46641000 USD
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59067000 USD
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35177000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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13808000 USD
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12705000 USD
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-121000 USD
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
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11479000 USD
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29846000 USD
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76848000 USD
CY2014 us-gaap Increase Decrease In Deferred Leasing Fees
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38282000 USD
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65415000 USD
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35273000 USD
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673000 USD
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285000 USD
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26652000 USD
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43800000 USD
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5322000 USD
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7466000 USD
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9079000 USD
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11420000 USD
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-1665000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
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0 USD
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0 USD
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-4141000 USD
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-60000 USD
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986000 USD
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47105000 USD
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36540000 USD
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52450000 USD
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126404000 USD
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142353000 USD
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159403000 USD
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79299000 USD
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106953000 USD
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4157000 USD
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4978000 USD
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6680000 USD
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57966000 USD
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93856000 USD
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84907000 USD
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528000 USD
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596000 USD
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4115000 USD
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4314000 USD
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3587000 USD
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2326000 USD
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18942000 USD
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17133000 USD
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127212000 USD
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50221000 USD
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0 USD
CY2016Q4 us-gaap Investments In And Advances To Affiliates Balance Principal Amount
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0 USD
CY2015Q4 us-gaap Liabilities
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4587053000 USD
CY2016Q4 us-gaap Liabilities
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4972610000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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8881017000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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10354888000 USD
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151000000 USD
CY2016Q4 us-gaap Line Of Credit
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28000000 USD
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944243000 USD
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746471000 USD
CY2016Q4 us-gaap Long Term Debt
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4164025000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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2295655000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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384912000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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510922000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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760914000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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7420000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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215554000 USD
CY2014 us-gaap Loss On Sale Of Investments
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9287000 USD
CY2015 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
16093000 USD
CY2016 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
11397000 USD
CY2015Q4 us-gaap Marketable Securities
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353465000 USD
CY2016Q4 us-gaap Marketable Securities
MarketableSecurities
342477000 USD
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304659000 USD
CY2016Q4 us-gaap Minority Interest
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475175000 USD
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0 USD
CY2015 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
0 USD
CY2016 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
5000000 USD
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3786000 USD
CY2016 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
17241000 USD
CY2015 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
113969000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
331312000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
419126000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1105521000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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-634829000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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334325000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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342611000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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392501000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
101574000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
144217000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-65901000 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5204000 USD
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1897000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16102000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
72113000 USD
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17786000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
31291000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
32659000 USD
CY2015Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35131000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
116867000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3818000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-127648000 USD
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5452000 USD
CY2016Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25127000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-151141000 USD
CY2014 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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105716000 USD
CY2015 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
145021000 USD
CY2016 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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-50815000 USD
CY2014Q4 us-gaap Net Investment In Direct Financing And Sales Type Leases
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0 USD
CY2015Q4 us-gaap Net Investment In Direct Financing And Sales Type Leases
NetInvestmentInDirectFinancingAndSalesTypeLeases
0 USD
CY2016Q4 us-gaap Net Investment In Direct Financing And Sales Type Leases
NetInvestmentInDirectFinancingAndSalesTypeLeases
36975000 USD
CY2015 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
443445000 USD
CY2016 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
217183000 USD
CY2014 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
19410000 USD
CY2015 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
964000 USD
CY2014 us-gaap Notes Assumed1
NotesAssumed1
48329000 USD
CY2015 us-gaap Notes Assumed1
NotesAssumed1
82000000 USD
CY2016 us-gaap Notes Assumed1
NotesAssumed1
203000000 USD
CY2014 us-gaap Notes Issued1
NotesIssued1
2000000 USD
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NotesReceivableNet
16630000 USD
CY2016Q4 us-gaap Notes Receivable Net
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694000 USD
CY2016Q4 us-gaap Number Of Properties Subject To Ground Leases
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28
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
4753000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1546000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
41000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
60000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1518000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1588000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
7947225000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
636204000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
565534000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
618096000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
662547000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
683713000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
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4781131000 USD
CY2014 us-gaap Operating Leases Income Statement Lease Revenue
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544153000 USD
CY2015 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
608824000 USD
CY2016 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
673820000 USD
CY2014 us-gaap Operating Leases Rent Expense Net
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13372000 USD
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
13667000 USD
CY2016 us-gaap Operating Leases Rent Expense Net
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14282000 USD
CY2015Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
74140000 USD
CY2016Q4 us-gaap Other Accounts Payable And Accrued Liabilities
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33464000 USD
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133312000 USD
CY2016Q4 us-gaap Other Assets
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201197000 USD
CY2015Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
19503000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous
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11143000 USD
CY2014 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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-18075000 USD
CY2015 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-21844000 USD
CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-2579000 USD
CY2014 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
50777000 USD
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
65232000 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-98306000 USD
CY2016 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-83562000 USD
CY2014 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
2412000 USD
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-2809000 USD
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
4123000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-18283000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-12608000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
50347000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
208000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
-9236000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
-52926000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
34906000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
49815000 USD
CY2014 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
18973000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-43836000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-43836000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
358000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
12138000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
18473000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-6871000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-2707000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-5273000 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-4459000 USD
CY2015 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-5516000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1150000 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
51135000 USD
CY2015 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
77370000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-79833000 USD
CY2014 us-gaap Other Income
OtherIncome
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CY2015 us-gaap Other Income
OtherIncome
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CY2016 us-gaap Other Income
OtherIncome
24231000 USD
CY2014 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1774000 USD
CY2015 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2364000 USD
CY2016 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
3750000 USD
CY2014 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
10282000 USD
CY2015 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
5501000 USD
CY2016 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
450000 USD
CY2014 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
14414000 USD
CY2015 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
0 USD
CY2016 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
206826000 USD
CY2014 us-gaap Payments Of Dividends
PaymentsOfDividends
228300000 USD
CY2015 us-gaap Payments Of Dividends
PaymentsOfDividends
243100000 USD
CY2014 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
202386000 USD
CY2015 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
218104000 USD
CY2016 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
240347000 USD
CY2014 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
25885000 USD
CY2015 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
24986000 USD
CY2016 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
22414000 USD
CY2014 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8099000 USD
CY2015 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
10584000 USD
CY2016 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
16681000 USD
CY2014 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
0 USD
CY2015 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
51092000 USD
CY2016 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
0 USD
CY2014 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
70758000 USD
CY2015 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
9027000 USD
CY2016 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
11529000 USD
CY2014 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2015 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2016 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2014 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
60230000 USD
CY2015 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
564206000 USD
CY2015 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
95945000 USD
CY2016 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
102284000 USD
CY2014 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
127887000 USD
CY2015 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
248933000 USD
CY2016 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
737900000 USD
CY2014 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
497773000 USD
CY2016 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
821690000 USD
CY2014 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
4977000 USD
CY2015 us-gaap Payments To Minority Shareholders
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64066000 USD
CY2016 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
69678000 USD
CY2014 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
1989000 USD
CY2015 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
0 USD
CY2016 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
61267000 USD
CY2016 us-gaap Preferred Stock Redemption Date
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2017-03-15
CY2016Q4 us-gaap Preferred Stock Shares Authorized
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100000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
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8700000 shares
CY2015Q4 us-gaap Preferred Stock Value
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130000000 USD
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
130000000 USD
CY2015Q4 us-gaap Prepaid Expense Current And Noncurrent
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17651000 USD
CY2016Q4 us-gaap Prepaid Expense Current And Noncurrent
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9724000 USD
CY2014 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
29883000 USD
CY2015 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
4282000 USD
CY2016 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
15198000 USD
CY2014 us-gaap Proceeds From Issuance Of Common Stock
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0 USD
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
78463000 USD
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1432177000 USD
CY2014 us-gaap Proceeds From Issuance Of Secured Debt
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126215000 USD
CY2015 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
169754000 USD
CY2016 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
291400000 USD
CY2014 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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698908000 USD
CY2015 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
298872000 USD
CY2016 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
348604000 USD
CY2014 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1168000000 USD
CY2015 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
2145000000 USD
CY2016 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
4117000000 USD
CY2014 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
19410000 USD
CY2015 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
453750000 USD
CY2016 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
221487000 USD
CY2014 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2016 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-10044000 USD
CY2014 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
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-1409000 USD
CY2015 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
3842000 USD
CY2016 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
11746000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
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1432177000 USD
CY2014 us-gaap Stock Redeemed Or Called During Period Value
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14414000 USD
CY2016 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
206826000 USD
CY2015Q4 us-gaap Stockholders Equity
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3975087000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
4895796000 USD
CY2015 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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67136000 USD
CY2016 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
38946000 USD
CY2014 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
81580000 USD
CY2015 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
129799000 USD
CY2016 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
123081000 USD
CY2014 us-gaap Profit Loss
ProfitLoss
106778000 USD
CY2015 us-gaap Profit Loss
ProfitLoss
146114000 USD
CY2016 us-gaap Profit Loss
ProfitLoss
-49799000 USD
CY2014 us-gaap Property Management Fee Revenue
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2761000 USD
CY2015 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
1667000 USD
CY2016 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
418000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
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13682000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12839000 USD
CY2013Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
952106000 USD
CY2014Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1120245000 USD
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1315339000 USD
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1554546000 USD
CY2014 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
15293000 USD
CY2015 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
18947000 USD
CY2016 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
26180000 USD
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
1011292000 USD
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
9153962000 USD
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
1478556000 USD
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
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3657012000 USD
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RealEstateAndAccumulatedDepreciationInitialCostOfLand
1478556000 USD
CY2014 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
102122000 USD
CY2015 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
115629000 USD
CY2016 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
305880000 USD
CY2013Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7682376000 USD
CY2014Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
8228855000 USD
CY2015Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
8945261000 USD
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
10632518000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7629922000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
9077972000 USD
CY2016Q4 us-gaap Real Estate Investments
RealEstateInvestments
9077972000 USD
CY2014 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
165344000 USD
CY2015 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
436480000 USD
CY2016 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
1078959000 USD
CY2014 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
483257000 USD
CY2015 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
395555000 USD
CY2016 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
914178000 USD
CY2014 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
726877000 USD
CY2015Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
196753000 USD
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
204156000 USD
CY2016 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
310903000 USD
CY2014 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
125000000 USD
CY2015Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
218610000 USD
CY2015Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
223955000 USD
CY2015 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
843474000 USD
CY2016Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
216089000 USD
CY2016Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
226076000 USD
CY2016Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
230379000 USD
CY2016Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
249162000 USD
CY2016 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
921706000 USD
CY2016 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
39726000 USD
CY2014 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1068000000 USD
CY2015 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
2298000000 USD
CY2016 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
4240000000 USD
CY2014 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
231051000 USD
CY2015 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
89815000 USD
CY2015 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
25000000 USD
CY2016 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
200000000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
28872000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
16334000 USD
CY2014 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
183432000 USD
CY2015 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
214041000 USD
CY2016 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
265387000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
809818000 USD
CY2016Q4 us-gaap Secured Debt
SecuredDebt
1011292000 USD
CY2015Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
2030631000 USD
CY2016Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
2378262000 USD
CY2016Q4 us-gaap Senior Notes
SeniorNotes
2400000000 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
13996000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
17512000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
25433000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
20903000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
22073000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
25630000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.033
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.034
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.009
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.010
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.210
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.20
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5875733 shares
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y6M
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y10M
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
21579000 USD
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
78463000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3964497000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3895243000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4279746000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5370971000 USD
CY2014 us-gaap Straight Line Rent
StraightLineRent
44726000 USD
CY2015 us-gaap Straight Line Rent
StraightLineRent
47483000 USD
CY2016 us-gaap Straight Line Rent
StraightLineRent
51673000 USD
CY2016 us-gaap Subsidiary Or Equity Method Investee Cumulative Percentage Ownership After All Transactions
SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions
1
CY2015Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
14218000 USD
CY2016Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
11307000 USD
CY2014 us-gaap Tenant Reimbursements
TenantReimbursements
173480000 USD
CY2015 us-gaap Tenant Reimbursements
TenantReimbursements
209063000 USD
CY2016 us-gaap Tenant Reimbursements
TenantReimbursements
223655000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71170000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71529000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76103000 shares
CY2016 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Interest rate hedge agreements</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We do not use derivatives for trading or speculative purposes, and currently all of our derivatives are designated as hedges. We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of our debt funding and by entering into interest rate hedge agreements. Specifically, we enter into interest rate hedge agreements to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the values of which are determined by interest rates. Our interest rate hedge agreements are used to manage differences in the amount, timing, and duration of our known or expected cash payments principally related to our borrowings based on LIBOR. Our objectives in using interest rate hedge agreements are to add stability to interest expense and to manage our exposure to interest rate movements in accordance with our interest rate risk management strategy. All of our interest rate hedge agreements are designated as cash flow hedges. Interest rate hedge agreements designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company&#8217;s making fixed-rate payments over the life of the interest rate hedge agreements without exchange of the underlying notional amount of interest rate hedge agreements.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We utilize interest rate hedge agreements to hedge a portion of our exposure to variable interest rates primarily associated with borrowings based on LIBOR. We classify our interest rate hedge agreements as either assets or liabilities on the balance sheet at fair value. The accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based on the hedged exposure, as a fair value hedge, a cash flow hedge, or a hedge of a net investment in a foreign operation. Our interest rate hedge agreements are considered cash flow hedges because they are designated and qualify as hedges of the exposure to variability in expected future cash flows. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the earnings effect of the hedged transactions in a cash flow hedge. All of our interest rate hedge agreements meet the criteria to be deemed &#8220;highly effective&#8221; in reducing our exposure to variable interest rates. We formally document all relationships between interest rate hedge agreements and hedged items, including the method for evaluating effectiveness and the risk strategy. We make an assessment at the inception of each interest rate hedge agreement and on an ongoing basis to determine whether these instruments are &#8220;highly effective&#8221; in offsetting changes in cash flows associated with the hedged items. The ineffective portion of each interest rate hedge agreement is immediately recognized in earnings. While we intend to continue to meet the conditions for such hedge accounting, if our interest rate hedges did not qualify as &#8220;highly effective,&#8221; the changes in the fair values of the derivatives used as hedges would be reflected in earnings.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The effective portion of changes in the fair value of our interest rate hedge agreements that are designated and that qualify as cash flow hedges is recognized in accumulated other comprehensive income. Amounts classified in accumulated other comprehensive income will be reclassified into earnings in the period during which the hedged transactions affect earnings. </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of each interest rate hedge agreement is determined using widely accepted valuation techniques, including discounted cash flow analyses on the expected cash flows of each derivative. These analyses reflect the contractual terms of the derivatives, including the period to maturity, and use observable market-based inputs, including interest rate curves and implied volatilities. The fair values of our interest rate hedge agreements are determined using the market-standard methodology of netting the discounted future fixed-cash payments and the discounted expected variable-cash receipts. The variable-cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The fair value calculation also includes an amount for risk of non-performance of our counterparties using &#8220;significant unobservable inputs&#8221; such as estimates of current credit spreads to evaluate the likelihood of default, which we have determined to be insignificant to the overall fair value of our interest rate hedge agreements.</font></div></div>
CY2016 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Background</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As used in this annual report on Form 10-K, references to the &#8220;Company,&#8221; &#8220;Alexandria,&#8221; &#8220;we,&#8221; &#8220;our,&#8221; and &#8220;us&#8221; refer to Alexandria Real Estate Equities, Inc. and its subsidiaries.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:115%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Alexandria Real Estate Equities, Inc. (NYSE:ARE) is an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of </font><font style="font-family:inherit;font-size:10pt;">$14.2 billion</font><font style="font-family:inherit;font-size:10pt;"> and an asset base in North America of </font><font style="font-family:inherit;font-size:10pt;">25.2 million</font><font style="font-family:inherit;font-size:10pt;"> square feet </font><font style="font-family:inherit;font-size:10pt;">as of December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">. The asset base in North America includes </font><font style="font-family:inherit;font-size:10pt;">19.9 million</font><font style="font-family:inherit;font-size:10pt;"> RSF of operating properties and development and redevelopment of new Class A properties (under construction or pre-construction), and </font><font style="font-family:inherit;font-size:10pt;">5.3 million</font><font style="font-family:inherit;font-size:10pt;"> square feet of future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle Park. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science and technology campuses that provide its innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success. We believe these advantages result in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value.</font></div><div style="line-height:115%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our asset base in North America (including consolidated and unconsolidated real estate joint ventures) consisted of&#160;the following as of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td style="width:58%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Square Feet</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Consolidated</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unconsolidated</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating properties</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,594,802</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">413,799</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">18,008,601</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Development and redevelopment projects</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,861,128</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1,861,128</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating properties and development and redevelopment projects</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,455,930</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">413,799</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,869,729</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Future value-creation projects</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,292,631</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">5,292,631</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Asset base in North America</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,748,561</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">413,799</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">25,162,360</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;">As of December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, we had </font><font style="font-family:inherit;font-size:10pt;">620</font><font style="font-family:inherit;font-size:10pt;"> leases with a total of </font><font style="font-family:inherit;font-size:10pt;">463</font><font style="font-family:inherit;font-size:10pt;"> tenants, and </font><font style="font-family:inherit;font-size:10pt;">88</font><font style="font-family:inherit;font-size:10pt;">, or </font><font style="font-family:inherit;font-size:10pt;">44%</font><font style="font-family:inherit;font-size:10pt;">, of our </font><font style="font-family:inherit;font-size:10pt;">199</font><font style="font-family:inherit;font-size:10pt;"> properties were single-tenant properties. Leases in our multi-tenant buildings typically have terms of </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">10</font><font style="font-family:inherit;font-size:10pt;"> years, while the single-tenant building leases typically have terms of </font><font style="font-family:inherit;font-size:10pt;">10</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">20</font><font style="font-family:inherit;font-size:10pt;"> years. </font><font style="font-family:inherit;font-size:10pt;">As of December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investment-grade tenants represented </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;"> of our annual rental revenue;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Approximately </font><font style="font-family:inherit;font-size:10pt;">97%</font><font style="font-family:inherit;font-size:10pt;"> of our leases (on an RSF basis) were triple net leases, requiring tenants to pay substantially all real estate taxes, insurance, utilities, common area expenses, and other operating expenses (including increases thereto) in addition to base rent;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Approximately </font><font style="font-family:inherit;font-size:10pt;">96%</font><font style="font-family:inherit;font-size:10pt;"> of our leases (on an RSF basis) contained effective annual rent escalations that were either fixed (generally ranging from </font><font style="font-family:inherit;font-size:10pt;">3%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">3.5%</font><font style="font-family:inherit;font-size:10pt;">) or indexed based on a consumer price index or other index; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Approximately </font><font style="font-family:inherit;font-size:10pt;">95%</font><font style="font-family:inherit;font-size:10pt;"> of our leases (on an RSF basis) provided for the recapture of certain capital expenditures (such as HVAC systems maintenance and/or replacement, roof replacement, and parking lot resurfacing) that we believe would typically be borne by the landlord in traditional office leases.</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Any references to our market capitalization, number or quality of buildings, quality of location, square footage, number of leases, occupancy percentage, and tenants, and any amounts derived from these values in the notes to consolidated financial statements are unaudited.</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, and equity; the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements; and the amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.</font></div></div>

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