2022 Q3 Form 10-Q Financial Statement

#000103544322000226 Filed on July 25, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $659.9M $643.8M $615.1M
YoY Change 20.46% 26.32% 28.18%
Cost Of Revenue $201.2M $196.3M $181.3M
YoY Change 21.2% -30.36% 31.49%
Gross Profit $458.7M $447.5M $433.7M
YoY Change 20.14% -36.76% 26.82%
Gross Profit Margin 69.51% 69.51% 70.52%
Selling, General & Admin $49.96M $43.40M $40.93M
YoY Change 31.71% -39.62% 20.39%
% of Gross Profit 10.89% 9.7% 9.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $254.9M $242.1M $240.7M
YoY Change 20.91% 27.37% 33.03%
% of Gross Profit 55.58% 54.1% 55.49%
Operating Expenses $304.9M $285.5M $281.6M
YoY Change 22.56% -35.54% 31.03%
Operating Profit $153.8M $162.0M $152.1M
YoY Change 15.63% -38.82% 19.71%
Interest Expense $22.98M $24.26M $29.44M
YoY Change -35.58% -31.01% -19.27%
% of Operating Profit 14.95% 14.97% 19.35%
Other Income/Expense, Net
YoY Change
Pretax Income $383.4M $309.4M -$117.4M
YoY Change 208.15% -28.06% -560.36%
Income Tax
% Of Pretax Income
Net Earnings $344.7M $272.2M -$149.6M
YoY Change 234.18% -29.31% -1941.76%
Net Earnings / Revenue 52.24% 42.28% -24.32%
Basic Earnings Per Share $2.11 $1.67 -$0.96
Diluted Earnings Per Share $2.11 $1.67 -$0.96
COMMON SHARES
Basic Shares Outstanding 163.2M shares 161.4M shares 158.2M shares
Diluted Shares Outstanding 161.6M shares 161.4M shares 158.2M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $533.8M $420.3M $775.1M
YoY Change 63.81% 29.76% 57.53%
Cash & Equivalents $533.8M $420.3M $775.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $7.759M $7.069M $7.570M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $541.6M $427.3M $782.6M
YoY Change 62.33% 29.26% 56.53%
LONG-TERM ASSETS
Property, Plant & Equipment $23.49M $24.98M $25.93M
YoY Change -14.05% -16.39% -15.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $56.37M $80.47M $72.47M
YoY Change -25.0% 67.48% -96.32%
Other Assets $1.854B $1.573B $1.561B
YoY Change 44.92% 28.93% 28.78%
Total Long-Term Assets $33.83B $32.82B $32.06B
YoY Change 19.85% 22.96% 29.62%
TOTAL ASSETS
Total Short-Term Assets $541.6M $427.3M $782.6M
Total Long-Term Assets $33.83B $32.82B $32.06B
Total Assets $34.37B $33.24B $32.84B
YoY Change 20.34% 23.04% 30.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $458.8M $428.5M $389.1M
YoY Change -17.79% 40.23% 21.59%
Accrued Expenses $1.015B $978.7M $872.1M
YoY Change 29.6% 33.9% 30.36%
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 $1.668B $1.600B $1.449B
YoY Change 10.08% 32.53% 25.99%
LONG-TERM LIABILITIES
Long-Term Debt $10.53B $10.27B $10.30B
YoY Change 13.63% 16.18% 20.63%
Other Long-Term Liabilities $919.6M $910.8M $911.5M
YoY Change 13.83% 15.45% 19.62%
Total Long-Term Liabilities $11.45B $11.18B $11.21B
YoY Change 13.64% 16.12% 20.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.668B $1.600B $1.449B
Total Long-Term Liabilities $11.45B $11.18B $11.21B
Total Liabilities $13.11B $12.78B $12.66B
YoY Change 13.18% 17.95% 21.16%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.626M $1.615M $1.614M
YoY Change 6.14% 7.17% 10.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.62B $17.14B $16.93B
YoY Change
Total Liabilities & Shareholders Equity $34.37B $33.24B $32.84B
YoY Change 20.34% 23.04% 30.16%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $344.7M $272.2M -$149.6M
YoY Change 234.18% -29.31% -1941.76%
Depreciation, Depletion And Amortization $254.9M $242.1M $240.7M
YoY Change 20.91% 27.37% 33.03%
Cash From Operating Activities $363.0M $339.0M $191.1M
YoY Change 17.56% 41.43% -9.89%
INVESTING ACTIVITIES
Capital Expenditures -$1.264B -$990.1M -$2.570B
YoY Change -6.51% -38.61% 10.0%
Acquisitions
YoY Change
Other Investing Activities $639.1M $382.7M $81.37M
YoY Change 1072.07% -547.08% -180.24%
Cash From Investing Activities -$624.4M -$607.4M -$2.489B
YoY Change -51.85% -64.24% 2.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $646.3M
YoY Change -53.76%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 610.1M -83.67M $2.753B
YoY Change -38.91% -106.53% 27.3%
NET CHANGE
Cash From Operating Activities 363.0M 339.0M $191.1M
Cash From Investing Activities -624.4M -607.4M -$2.489B
Cash From Financing Activities 610.1M -83.67M $2.753B
Net Change In Cash 348.7M -352.0M $454.9M
YoY Change 3200.0% 98.82% -818.68%
FREE CASH FLOW
Cash From Operating Activities $363.0M $339.0M $191.1M
Capital Expenditures -$1.264B -$990.1M -$2.570B
Free Cash Flow $1.627B $1.329B $2.761B
YoY Change -2.03% -28.26% 8.35%

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us-gaap Nature Of Operations
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ORGANIZATION AND BASIS OF PRESENTATION<div style="text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&amp;P 500</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">® </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">urban office REIT, is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, agtech, and technology campuses in AAA innovation cluster locations, with a total market capitalization of $33.7 billion and an asset base in North America of 74.1 million SF as of June 30, 2022. As used in this quarterly report on Form 10-Q, references to the “Company,” “Alexandria,” “ARE,” “we,” “us,” and “our” refer to Alexandria Real Estate Equities, Inc. and its consolidated subsidiaries. The accompanying unaudited consolidated financial statements include the accounts of Alexandria Real Estate Equities, Inc. and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We have prepared the accompanying interim consolidated financial statements in accordance with GAAP and in conformity with the rules and regulations of the SEC. In our opinion, these interim consolidated financial statements presented herein reflect all adjustments, of a normal recurring nature, that are necessary to fairly present the interim consolidated financial statements. The results of operations for the interim period are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our annual report on Form 10-K for the year ended December 31, 2021. Any references to our market capitalization, number or quality of buildings or tenants, quality of location, square footage, number of leases, or occupancy percentage, and any amounts derived from these values, in these notes to consolidated financial statements are outside the scope of our independent registered public accounting firm’s review.</span></div>
CY2022Q2 are Market Capitalization
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<div><span style="color:#00497f;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%;text-decoration:underline">Use of estimates</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">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.</span></div>
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RevenueRecognitionLeases
Revenues<div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The table below provides details of our consolidated total revenues for the three and six months ended June 30, 2022 and 2021 (in thousands):</span></div><div style="margin-bottom:1pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:44.872%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.538%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.538%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.327%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.538%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.355%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.544%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Three Months Ended June 30,</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2021</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income from rentals:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues subject to the lease accounting standard:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating leases</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">629,359 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">502,718 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,232,872 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">976,516 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Direct financing and sales-type leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">787 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">836 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,807 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,461 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues subject to the lease accounting standard</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">630,146 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">503,554 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,234,679 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">977,977 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues subject to the revenue recognition accounting standard</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,813 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,817 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,834 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,089 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income from rentals</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">640,959 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">508,371 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,253,513 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">987,066 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,805 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,248 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,316 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,402 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total revenues</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">643,764 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">509,619 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,258,829 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">989,468 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">During the three and six months ended June 30, 2022, revenues that were subject to the lease accounting standard aggregated $630.1 million and $1.2 billion, respectively, and represented 97.9% and 98.1%, respectively, of our total revenues. During the three and six months ended June 30, 2022, our total revenues also included $13.6 million, or 2.1%, and $24.2 million, or 1.9%, respectively, subject to other accounting guidance. Our other income consisted primarily of construction management fees and interest income earned during the three and six months ended June 30, 2022. For a detailed discussion related to our revenue streams, refer to the “Lease accounting” and “Recognition of revenue arising from contracts with customers” sections within this Note 2 to our unaudited consolidated financial statements.</span></div>
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
629359000 usd
are Percentageoftotalrevenues
Percentageoftotalrevenues
0.981
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
502718000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1232872000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
976516000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
787000 usd
CY2021Q2 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
836000 usd
us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
1807000 usd
us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
1461000 usd
CY2022Q2 us-gaap Lease Income
LeaseIncome
630146000 usd
CY2021Q2 us-gaap Lease Income
LeaseIncome
503554000 usd
us-gaap Lease Income
LeaseIncome
1234679000 usd
us-gaap Lease Income
LeaseIncome
977977000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
643764000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
509619000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1258829000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
989468000 usd
CY2022Q2 us-gaap Lease Income
LeaseIncome
630100000 usd
CY2022Q2 are Revenue With Customer Asset Adjustment To Allowance For Credit Loss
RevenueWithCustomerAssetAdjustmentToAllowanceForCreditLoss
836000 usd
CY2022Q2 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss Current
ContractWithCustomerAssetAccumulatedAllowanceForCreditLossCurrent
5500000 usd
CY2022Q2 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss
12300000 usd
are Minimum Percentage Of Taxable Income To Be Distributed
MinimumPercentageOfTaxableIncomeToBeDistributed
0.90
are Percent Of Taxable Income Generally Distributed As Dividend
PercentOfTaxableIncomeGenerallyDistributedAsDividend
1
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
256095000 usd
CY2022Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
27952931000 usd
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
24980669000 usd
CY2022Q1 are Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
29 property
CY2022Q2 are Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
3 property
CY2022Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
37587000 usd
CY2021Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
38483000 usd
CY2022Q2 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2
us-gaap Lessor Operating Lease Lessee Option To Purchase Underlying Asset
LessorOperatingLeaseLesseeOptionToPurchaseUnderlyingAsset
30
are Rent Commence Date
RentCommenceDate
2017-10-01
CY2022Q2 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
832670000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1757866000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1814904000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1783614000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1737303000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
12918498000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
20844855000 usd
CY2022Q2 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
39000000 usd
are Lessor Direct Financing Lease Remaining Lease Term
LessorDirectFinancingLeaseRemainingLeaseTerm
P70Y4M24D
us-gaap Lessor Direct Financing Lease Lessee Option To Purchase Underlying Asset
LessorDirectFinancingLeaseLesseeOptionToPurchaseUnderlyingAsset
30
are Rent Commence Date
RentCommenceDate
2017-10-01
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
403388000 usd
CY2022Q2 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
0 usd
CY2021Q4 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
31839000 usd
CY2022Q2 are Direct Financing Lease Unearned Income
DirectFinancingLeaseUnearnedIncome
214282000 usd
CY2021Q4 are Direct Financing Lease Unearned Income
DirectFinancingLeaseUnearnedIncome
215557000 usd
CY2022Q2 are Sales Type Lease Effect Of Discount
SalesTypeLeaseEffectOfDiscount
0 usd
CY2021Q4 are Sales Type Lease Effect Of Discount
SalesTypeLeaseEffectOfDiscount
146175000 usd
CY2022Q2 us-gaap Net Investment In Lease Allowance For Credit Loss
NetInvestmentInLeaseAllowanceForCreditLoss
2839000 usd
CY2021Q4 us-gaap Net Investment In Lease Allowance For Credit Loss
NetInvestmentInLeaseAllowanceForCreditLoss
2839000 usd
CY2022Q2 us-gaap Net Investment In Lease
NetInvestmentInLease
38974000 usd
CY2021Q4 us-gaap Net Investment In Lease
NetInvestmentInLease
70656000 usd
CY2022Q2 us-gaap Direct Financing Lease Net Investment In Lease Allowance For Credit Loss
DirectFinancingLeaseNetInvestmentInLeaseAllowanceForCreditLoss
2800000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
908000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
1863000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
1919000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
1976000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
2036000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
247393000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
256095000 usd
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
629359000 usd
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
502718000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1232872000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
976516000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
787000 usd
CY2021Q2 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
836000 usd
us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
1807000 usd
us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
1461000 usd
CY2022Q2 us-gaap Lease Income
LeaseIncome
630146000 usd
CY2021Q2 us-gaap Lease Income
LeaseIncome
503554000 usd
us-gaap Lease Income
LeaseIncome
1234679000 usd
us-gaap Lease Income
LeaseIncome
977977000 usd
CY2022Q2 are Ground And Operating Lease Obligation Due
GroundAndOperatingLeaseObligationDue
925600000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
412500000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
567700000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0461
CY2022Q2 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
41 property
CY2022Q2 are Ground Lease Related To Operating Property Net Book Value
GroundLeaseRelatedToOperatingPropertyNetBookValue
6600000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
12202000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23641000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
23938000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
24006000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
23998000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
817817000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
925602000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
513067000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
412535000 usd
are Operating Lease Obligation Remaining Lease Term
OperatingLeaseObligationRemainingLeaseTerm
P13Y
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
8846000 usd
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6975000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
17494000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
13525000 usd
CY2022Q2 are Capitalized Lease Costs
CapitalizedLeaseCosts
922000 usd
CY2021Q2 are Capitalized Lease Costs
CapitalizedLeaseCosts
762000 usd
are Capitalized Lease Costs
CapitalizedLeaseCosts
1852000 usd
are Capitalized Lease Costs
CapitalizedLeaseCosts
1446000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
7924000 usd
CY2021Q2 us-gaap Lease Cost
LeaseCost
6213000 usd
us-gaap Lease Cost
LeaseCost
15642000 usd
us-gaap Lease Cost
LeaseCost
12079000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
39700000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
11700000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
420258000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
361348000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
97404000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
53879000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
517662000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
415227000 usd
CY2022Q2 are Cost Method Investment Ownership Percentage
CostMethodInvestmentOwnershipPercentage
0.10
CY2022Q2 us-gaap Equity Method Investments
EquityMethodInvestments
80500000 usd
CY2022Q2 us-gaap Equity Method Investments
EquityMethodInvestments
80469000 usd
CY2022Q2 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
1117181000 usd
CY2022Q2 are Cumulativeunrealizedgainslossesoninvestments
Cumulativeunrealizedgainslossesoninvestments
459811000 usd
CY2022Q2 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
1657461000 usd
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
71588000 usd
CY2021Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
1007303000 usd
CY2021Q4 are Cumulativeunrealizedgainslossesoninvestments
Cumulativeunrealizedgainslossesoninvestments
797673000 usd
CY2021Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
1876564000 usd
CY2022Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Downward Price Adjustment Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentCumulativeAmount
1900000 usd
CY2022Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossCumulativeAmount
53900000 usd
CY2022Q2 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
28647000 usd
CY2021Q2 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
60232000 usd
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
51761000 usd
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
107497000 usd
CY2022Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-68128000 usd
CY2021Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
244031000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-331561000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
197780000 usd
CY2022Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-39481000 usd
CY2021Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
304263000 usd
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-279800000 usd
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
305277000 usd
CY2022Q2 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
386000000 usd
are Limited Partnership Maximum Expiration Terms
LimitedPartnershipMaximumExpirationTerms
P11Y
are Limited Partnership Liquidation Expected Initial Term In Years
LimitedPartnershipLiquidationExpectedInitialTermInYears
P10Y
us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Liquidating Investment Remaining Period1
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLiquidatingInvestmentRemainingPeriod1
P5Y7M6D
CY2022Q2 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
683258000 usd
CY2021Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
609872000 usd
CY2022Q2 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
36903000 usd
CY2021Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
38937000 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
16882000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
19294000 usd
CY2022Q2 us-gaap Deposits Assets
DepositsAssets
38267000 usd
CY2021Q4 us-gaap Deposits Assets
DepositsAssets
176077000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24975000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26429000 usd
CY2022Q2 us-gaap Net Investment In Lease
NetInvestmentInLease
38974000 usd
CY2021Q4 us-gaap Net Investment In Lease
NetInvestmentInLease
70656000 usd
CY2022Q2 us-gaap Notes Receivable Net
NotesReceivableNet
15868000 usd
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
13088000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
567681000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
474299000 usd
CY2022Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
76808000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
53985000 usd
CY2022Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
17473000 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
24806000 usd
CY2022Q2 are Real Estate Corporate Operations
RealEstateCorporateOperations
150121000 usd
CY2021Q4 are Real Estate Corporate Operations
RealEstateCorporateOperations
151375000 usd
CY2022Q2 us-gaap Other Assets
OtherAssets
1667210000 usd
CY2021Q4 us-gaap Other Assets
OtherAssets
1658818000 usd
are Transfers In Fair Value Hierarchy
TransfersInFairValueHierarchy
0 transfer
CY2022Q2 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
1700000000 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0349
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
28000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
30000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
32000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
600034000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
826011000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
8925518000 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10351653000 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-80247000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
10271406000 usd
CY2022Q2 are Longterm Debt Percentage Bearing Fixed Interest Amount Net
LongtermDebtPercentageBearingFixedInterestAmountNet
10097140000 usd
CY2022Q2 are Longterm Debt Percentage Bearing Variable Interest Amount Net
LongtermDebtPercentageBearingVariableInterestAmountNet
174266000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
10271406000 usd
CY2022Q2 are Debt Instrument Percentage Of Outstanding Balance
DebtInstrumentPercentageOfOutstandingBalance
1.000
CY2022Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0349
are Debt Instrument Weighted Average Remaining Period
DebtInstrumentWeightedAverageRemainingPeriod
P13Y7M6D
CY2022Q2 are Fixed Interest Rate Debt As Percentage Of Total Outstanding Balance
FixedInterestRateDebtAsPercentageOfTotalOutstandingBalance
0.983
CY2022Q2 are Variable Interest Rate Debt As Percentage Of Total Outstanding Balance
VariableInterestRateDebtAsPercentageOfTotalOutstandingBalance
0.017
CY2022Q2 are Debt Instrument Percentage Of Outstanding Balance
DebtInstrumentPercentageOfOutstandingBalance
1.000
CY2022Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
92459000 usd
are Preferred Stock Shares Additional Shares Authorized
PreferredStockSharesAdditionalSharesAuthorized
200000000 shares
CY2021Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
78650000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
179662000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
155003000 usd
CY2022Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
68202000 usd
CY2021Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
43492000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
125965000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
83378000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
24257000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
35158000 usd
us-gaap Interest Expense
InterestExpense
53697000 usd
us-gaap Interest Expense
InterestExpense
71625000 usd
CY2022Q2 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
428504000 usd
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
513416000 usd
CY2022Q2 are Accrued Construction
AccruedConstruction
566119000 usd
CY2021Q4 are Accrued Construction
AccruedConstruction
438866000 usd
CY2022Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
374581000 usd
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
341585000 usd
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
56466000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
59797000 usd
CY2022Q2 are Deferred Rent Liability
DeferredRentLiability
19022000 usd
CY2021Q4 are Deferred Rent Liability
DeferredRentLiability
12384000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
412535000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
434745000 usd
CY2022Q2 are Prepaid Rent And Tenant Security Deposits
PrepaidRentAndTenantSecurityDeposits
344348000 usd
CY2021Q4 are Prepaid Rent And Tenant Security Deposits
PrepaidRentAndTenantSecurityDeposits
326924000 usd
CY2022Q2 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
116365000 usd
CY2021Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
82693000 usd
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2317940000 usd
CY2022Q2 are Preferred Stock Shares Additional Shares Authorized Issued And Outstanding
PreferredStockSharesAdditionalSharesAuthorizedIssuedAndOutstanding
0 shares
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2210410000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
309382000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
404520000 usd
us-gaap Profit Loss
ProfitLoss
191990000 usd
us-gaap Profit Loss
ProfitLoss
430053000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
37168000 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
19436000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
69345000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
36848000 usd
CY2022Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2934000 usd
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
4521000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
4134000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
4663000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
269280000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
380563000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
118511000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
388542000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
161412000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145825000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
159814000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141596000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
233000 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
300000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
161412000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146058000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
159814000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141896000 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.67
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.74
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.74
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.67
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.61
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.74
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
187700000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.15
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
192600000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.18
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-4600000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000 shares
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
161500000 shares
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q2 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Areaof Real Estate
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAreaofRealEstate
392877 sqft
CY2022Q2 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAssets
23500000 usd
CY2021Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAssets
17749000 usd
CY2022Q2 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Liabilities
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsLiabilities
1123000 usd
CY2021Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Liabilities
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsLiabilities
1083000 usd
CY2022Q2 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Accumulated Other Comprehensive Income Loss
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAccumulatedOtherComprehensiveIncomeLoss
25000 usd
CY2021Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Accumulated Other Comprehensive Income Loss
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAccumulatedOtherComprehensiveIncomeLoss
1750000 usd
CY2022Q2 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Net Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsNetAssets
22352000 usd
CY2021Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Net Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsNetAssets
14916000 usd

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