2023 Q2 Form 10-Q Financial Statement

#000103544323000198 Filed on April 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $713.9M $700.8M
YoY Change 10.89% 13.94%
Cost Of Revenue $211.8M $206.9M
YoY Change 7.92% 14.12%
Gross Profit $502.1M $493.9M
YoY Change 12.2% 13.86%
Gross Profit Margin 70.33% 70.47%
Selling, General & Admin $45.88M $48.20M
YoY Change 5.73% 17.75%
% of Gross Profit 9.14% 9.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $273.6M $265.3M
YoY Change 13.0% 10.24%
% of Gross Profit 54.49% 53.72%
Operating Expenses $319.4M $313.5M
YoY Change 11.9% 11.33%
Operating Profit $182.6M $180.4M
YoY Change 12.73% 18.55%
Interest Expense -$95.16M $13.75M
YoY Change -492.3% -53.28%
% of Operating Profit -52.11% 7.63%
Other Income/Expense, Net
YoY Change
Pretax Income $133.7M $121.7M
YoY Change -56.78% -203.66%
Income Tax
% Of Pretax Income
Net Earnings $87.26M $77.86M
YoY Change -67.94% -152.06%
Net Earnings / Revenue 12.22% 11.11%
Basic Earnings Per Share $0.51 $0.44
Diluted Earnings Per Share $0.51 $0.44
COMMON SHARES
Basic Shares Outstanding 173.0M shares 173.1M shares
Diluted Shares Outstanding 170.9M shares 170.8M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $924.4M $1.263B
YoY Change 119.95% 63.01%
Cash & Equivalents $924.4M $1.263B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $6.951M $8.197M
Other Receivables $0.00 $0.00
Total Short-Term Assets $931.3M $1.272B
YoY Change 117.94% 62.48%
LONG-TERM ASSETS
Property, Plant & Equipment $31.88B $22.79M
YoY Change 127563.84% -12.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.534B $62.52M
YoY Change 1806.07% -13.73%
Other Assets $1.634B $1.655B
YoY Change 3.91% 6.05%
Total Long-Term Assets $35.73B $35.64B
YoY Change 8.87% 11.16%
TOTAL ASSETS
Total Short-Term Assets $931.3M $1.272B
Total Long-Term Assets $35.73B $35.64B
Total Assets $36.66B $36.91B
YoY Change 10.27% 12.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $366.4M $354.9M
YoY Change -14.5% -8.79%
Accrued Expenses $1.053B $1.086B
YoY Change 7.64% 24.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.634B $1.650B
YoY Change 2.16% 13.88%
LONG-TERM LIABILITIES
Long-Term Debt $11.18B $11.54B
YoY Change 8.88% 11.98%
Other Long-Term Liabilities $1.074B $1.038B
YoY Change 17.96% 13.92%
Total Long-Term Liabilities $12.26B $12.58B
YoY Change 9.62% 12.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.634B $1.650B
Total Long-Term Liabilities $12.26B $12.58B
Total Liabilities $17.86B $14.23B
YoY Change 39.74% 12.33%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.709M $1.709M
YoY Change 5.82% 5.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.80B $18.88B
YoY Change
Total Liabilities & Shareholders Equity $36.66B $36.91B
YoY Change 10.27% 12.39%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $87.26M $77.86M
YoY Change -67.94% -152.06%
Depreciation, Depletion And Amortization $273.6M $265.3M
YoY Change 13.0% 10.24%
Cash From Operating Activities $478.5M $305.6M
YoY Change 41.13% 59.91%
INVESTING ACTIVITIES
Capital Expenditures $994.6M $1.051B
YoY Change -200.46% -140.89%
Acquisitions
YoY Change
Other Investing Activities $600.2M $11.24M
YoY Change 56.83% -86.18%
Cash From Investing Activities -$394.4M -$1.040B
YoY Change -35.06% -58.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -422.3M $1.175B
YoY Change 404.66% -57.32%
NET CHANGE
Cash From Operating Activities 478.5M $305.6M
Cash From Investing Activities -394.4M -$1.040B
Cash From Financing Activities -422.3M $1.175B
Net Change In Cash -338.2M $440.4M
YoY Change -3.93% -3.19%
FREE CASH FLOW
Cash From Operating Activities $478.5M $305.6M
Capital Expenditures $994.6M $1.051B
Free Cash Flow -$516.2M -$745.3M
YoY Change -138.83% -126.99%

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CY2023Q1 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-32740000 usd
CY2022Q1 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-36051000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
305570000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
191086000 usd
CY2023Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
873366000 usd
CY2022Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
666364000 usd
CY2023Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
177543000 usd
CY2022Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
1903800000 usd
CY2023Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-9366000 usd
CY2022Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-100635000 usd
CY2023Q1 us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
PaymentsToAcquireRealEstateAndRealEstateJointVentures
106000 usd
CY2022Q1 us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
PaymentsToAcquireRealEstateAndRealEstateJointVentures
335000 usd
CY2023Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 usd
CY2022Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
471000 usd
CY2023Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
47401000 usd
CY2022Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
64247000 usd
CY2023Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
49385000 usd
CY2022Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
44842000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1039665000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2488798000 usd
CY2023Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
14428000 usd
CY2022Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
5082000 usd
CY2023Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 usd
CY2022Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
906000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
996205000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1793318000 usd
CY2023Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
375000000 usd
CY2022Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1180000000 usd
CY2023Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
375000000 usd
CY2022Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1180000000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
775000000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
6120000000 usd
CY2023Q1 us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
400000000 usd
CY2022Q1 us-gaap Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
6390000000 usd
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
9989000 usd
CY2022Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
17596000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7854000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8906000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
646316000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
209131000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
183847000 usd
CY2023Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
79337000 usd
CY2022Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
819610000 usd
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
63186000 usd
CY2022Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
30501000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1174810000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2752570000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-306000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
440409000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
454939000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
857975000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
415227000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1298384000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
870166000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
21519000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
22550000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
419029000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
300713000 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
33250000 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
0 usd
CY2023Q1 are Issuanceofnoncontrollinginteresttojointventurepartner
Issuanceofnoncontrollinginteresttojointventurepartner
33250000 usd
CY2022Q1 are Issuanceofnoncontrollinginteresttojointventurepartner
Issuanceofnoncontrollinginteresttojointventurepartner
0 usd
CY2023Q1 are Noncashrightofuseasset
Noncashrightofuseasset
0 usd
CY2022Q1 are Noncashrightofuseasset
Noncashrightofuseasset
10127000 usd
CY2023Q1 are Noncashleaseliability
Noncashleaseliability
0 usd
CY2022Q1 are Noncashleaseliability
Noncashleaseliability
10127000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
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%"> life science REIT, is the pioneer of the life science real estate niche since its founding in 1994. Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle. With over 850 tenants, Alexandria has a total market capitalization of $33.0 billion and an asset base in North America of 75.6 million SF as of March 31, 2023. 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, 2023. 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, 2022. 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>
CY2023Q1 are Number Of Tenants
NumberOfTenants
850 property
CY2023Q1 are Market Capitalization
MarketCapitalization
33000000000 usd
CY2023Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
75600000 sqft
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<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>
CY2023Q1 are Maximum Expected Period Of Sale Of Property
MaximumExpectedPeriodOfSaleOfProperty
P1Y
CY2023Q1 are Cost Method Investment Ownership Percentage
CostMethodInvestmentOwnershipPercentage
0.10
CY2023Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div><span style="color:#00497f;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%;text-decoration:underline">Revenues</span></div><div style="text-indent:36pt"><span><br/></span></div><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 months ended March 31, 2023 and 2022 (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:99.861%"><tr><td style="width:1.0%"/><td style="width:67.745%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.781%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.784%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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 March 31,</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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%">2023</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%">2022</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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%">677,422 </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%">603,513 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><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><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></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%">648 </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%">1,020 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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%">678,070 </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%">604,533 </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="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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%">9,879 </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%">8,021 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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%">687,949 </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%">612,554 </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="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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%">12,846 </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%">2,511 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></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%">700,795 </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%">615,065 </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="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:1pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:9.45pt">We completed the sale of our real estate assets subject to sales-type leases in May 2022 and have had no sales-type leases since then. Refer to Note 5 – “Leases” to these unaudited consolidated financial statements for additional information.</span></div><div style="margin-bottom:1pt"><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 months ended March 31, 2023, revenues that were subject to the lease accounting standard aggregated $678.1 million, or represented 96.8% of our total revenues. During the three months ended March 31, 2023, our total revenues also included $22.7 million, or 3.2%, subject to other accounting guidance. Our other income consisted primarily of management fees and interest income earned during the three months ended March 31, 2023. For a detailed discussion related to our revenue streams, refer to the “Lease accounting” subsection and the “Recognition of revenue arising from contracts with customers” section within this Note 2 to our unaudited consolidated financial statements.</span></div>
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
677422000 usd
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
603513000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
648000 usd
CY2022Q1 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
1020000 usd
CY2023Q1 us-gaap Lease Income
LeaseIncome
678070000 usd
CY2022Q1 us-gaap Lease Income
LeaseIncome
604533000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
700795000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
615065000 usd
CY2023Q1 us-gaap Lease Income
LeaseIncome
678100000 usd
CY2023Q1 are Percentageoftotalrevenues
Percentageoftotalrevenues
0.968
CY2023Q1 are Contract With Customer Asset Adjustment For Allowance For Credit Loss
ContractWithCustomerAssetAdjustmentForAllowanceForCreditLoss
0 usd
CY2023Q1 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss
20400000 usd
CY2023Q1 are Minimum Percentage Of Taxable Income To Be Distributed
MinimumPercentageOfTaxableIncomeToBeDistributed
0.90
CY2023Q1 are Percent Of Taxable Income Generally Distributed As Dividend
PercentOfTaxableIncomeGenerallyDistributedAsDividend
1
CY2017Q4 are Rent Commence Date
RentCommenceDate
2017-10-01
CY2023Q1 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2 landparcel
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
1976000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
2036000 usd
CY2023Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
30889395000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
29945440000 usd
CY2022Q1 are Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
3 property
CY2023Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
38355000 usd
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
38435000 usd
CY2023Q1 are Number Of Direct Financing Leases
NumberOfDirectFinancingLeases
1 directfinancinglease
CY2023Q1 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2 landparcel
CY2023Q1 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2 landparcel
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
1334277000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1917110000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1908850000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1857081000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1763042000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
11877113000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
20657473000 usd
CY2023Q1 are Number Of Direct Financing Leases
NumberOfDirectFinancingLeases
1 directfinancinglease
CY2023Q1 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
39500000 usd
CY2023Q1 are Lessor Direct Financing Lease Remaining Lease Term
LessorDirectFinancingLeaseRemainingLeaseTerm
P69Y8M12D
CY2023Q1 are Lessor Direct Financing Lease Lessee Option To Purchase Underlying Asset Option Exercise Period
LessorDirectFinancingLeaseLesseeOptionToPurchaseUnderlyingAssetOptionExercisePeriod
P30D
CY2017Q4 are Rent Commence Date
RentCommenceDate
2017-10-01
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
254726000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
255186000 usd
CY2023Q1 are Direct Financing Lease Unearned Income
DirectFinancingLeaseUnearnedIncome
212347000 usd
CY2022Q4 are Direct Financing Lease Unearned Income
DirectFinancingLeaseUnearnedIncome
212995000 usd
CY2023Q1 us-gaap Net Investment In Lease Allowance For Credit Loss
NetInvestmentInLeaseAllowanceForCreditLoss
2839000 usd
CY2022Q4 us-gaap Net Investment In Lease Allowance For Credit Loss
NetInvestmentInLeaseAllowanceForCreditLoss
2839000 usd
CY2023Q1 us-gaap Net Investment In Lease
NetInvestmentInLease
39540000 usd
CY2022Q4 us-gaap Net Investment In Lease
NetInvestmentInLease
39352000 usd
CY2023Q1 us-gaap Direct Financing Lease Net Investment In Lease Allowance For Credit Loss
DirectFinancingLeaseNetInvestmentInLeaseAllowanceForCreditLoss
2800000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
1403000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
1919000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
2097000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
245295000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
254726000 usd
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
677422000 usd
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
603513000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
648000 usd
CY2022Q1 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
1020000 usd
CY2023Q1 us-gaap Lease Income
LeaseIncome
678070000 usd
CY2022Q1 us-gaap Lease Income
LeaseIncome
604533000 usd
CY2023Q1 are Ground And Operating Lease Obligation Due
GroundAndOperatingLeaseObligationDue
898500000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
405200000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
554900000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2023Q1 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
41 property
CY2023Q1 are Percentage Of Properties Subject To Ground Leases
PercentageOfPropertiesSubjectToGroundLeases
0.09
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
18316000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
24389000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
24475000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
24543000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
22866000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
783888000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
898477000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
493287000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
405190000 usd
CY2023Q1 are Operating Lease Obligation Remaining Lease Term
OperatingLeaseObligationRemainingLeaseTerm
P13Y
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
9457000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
8648000 usd
CY2023Q1 are Capitalized Lease Costs
CapitalizedLeaseCosts
921000 usd
CY2022Q1 are Capitalized Lease Costs
CapitalizedLeaseCosts
930000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
8536000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
7718000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
7300000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
33000000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1263452000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
825193000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
34932000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
32782000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1298384000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
857975000 usd
CY2023Q1 are Cost Method Investment Ownership Percentage
CostMethodInvestmentOwnershipPercentage
0.10
CY2023Q1 are Number Of Equity Method Investments
NumberOfEquityMethodInvestments
8 investment
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
62500000 usd
CY2023Q1 are Number Of Equity Method Investments
NumberOfEquityMethodInvestments
8 investment
CY2023Q1 are Fair Value Investments Privately Held Entities That Calculate Nav Unfunded Commitments
FairValueInvestmentsPrivatelyHeldEntitiesThatCalculateNAVUnfundedCommitments
378700000 usd
CY2023Q1 are Limited Partnership Maximum Expiration Terms
LimitedPartnershipMaximumExpirationTerms
P12Y
CY2023Q1 are Limited Partnership Liquidation Expected Initial Term In Years
LimitedPartnershipLiquidationExpectedInitialTermInYears
P10Y
CY2023Q1 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Liquidating Investment Remaining Period1
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareLiquidatingInvestmentRemainingPeriod1
P5Y3M18D
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
62516000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
1173749000 usd
CY2023Q1 are Cumulative Unrealized Gains On Investments
CumulativeUnrealizedGainsOnInvestments
459271000 usd
CY2023Q1 are Cumulative Unrealized Losses On Investments
CumulativeUnrealizedLossesOnInvestments
122518000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
1573018000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
65459000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
1152613000 usd
CY2022Q4 are Cumulative Unrealized Gains On Investments
CumulativeUnrealizedGainsOnInvestments
506404000 usd
CY2022Q4 are Cumulative Unrealized Losses On Investments
CumulativeUnrealizedLossesOnInvestments
109402000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
1615074000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Downward Price Adjustment Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentCumulativeAmount
1600000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossCumulativeAmount
68300000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
20744000 usd
CY2022Q1 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
23114000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-65855000 usd
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-263433000 usd
CY2023Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-45111000 usd
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-240319000 usd
CY2023Q1 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
589807000 usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
615638000 usd
CY2023Q1 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
35286000 usd
CY2022Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
33534000 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
30183000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
31747000 usd
CY2023Q1 us-gaap Deposits Assets
DepositsAssets
11321000 usd
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
20805000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22788000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23186000 usd
CY2023Q1 us-gaap Net Investment In Lease
NetInvestmentInLease
39540000 usd
CY2022Q4 us-gaap Net Investment In Lease
NetInvestmentInLease
39352000 usd
CY2023Q1 us-gaap Notes Receivable Net
NotesReceivableNet
22093000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
19875000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
554872000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
558255000 usd
CY2023Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
96495000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
80724000 usd
CY2023Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
52135000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
28294000 usd
CY2023Q1 are Real Estate Corporate Operations
RealEstateCorporateOperations
147883000 usd
CY2022Q4 are Real Estate Corporate Operations
RealEstateCorporateOperations
148530000 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
1602403000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
1599940000 usd
CY2023Q1 are Transfers In Fair Value Hierarchy
TransfersInFairValueHierarchy
0 transfer
CY2023Q1 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
1600000000 usd
CY2023Q1 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Net Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsNetAssets
116700000 usd
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0373
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
30000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
32000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
600034000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
724180000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
350038000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
9950479000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
11624793000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-87488000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
11537305000 usd
CY2023Q1 are Longterm Debt Percentage Bearing Fixed Interest Amount Net
LongtermDebtPercentageBearingFixedInterestAmountNet
11089773000 usd
CY2023Q1 are Longterm Debt Percentage Bearing Variable Interest Amount Net
LongtermDebtPercentageBearingVariableInterestAmountNet
447532000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
11537305000 usd
CY2023Q1 are Debt Instrument Percentage Of Outstanding Balance
DebtInstrumentPercentageOfOutstandingBalance
1.000
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0373
CY2023Q1 are Debt Instrument Weighted Average Remaining Period
DebtInstrumentWeightedAverageRemainingPeriod
P13Y4M24D
CY2023Q1 are Fixed Interest Rate Debt As Percentage Of Total Outstanding Balance
FixedInterestRateDebtAsPercentageOfTotalOutstandingBalance
0.961
CY2023Q1 are Variable Interest Rate Debt As Percentage Of Total Outstanding Balance
VariableInterestRateDebtAsPercentageOfTotalOutstandingBalance
0.039
CY2023Q1 are Debt Instrument Percentage Of Outstanding Balance
DebtInstrumentPercentageOfOutstandingBalance
1
CY2023Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
100824000 usd
CY2022Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
87203000 usd
CY2023Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
87070000 usd
CY2022Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
57763000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
13754000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
29440000 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
354870000 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
389741000 usd
CY2023Q1 are Accrued Construction
AccruedConstruction
680587000 usd
CY2022Q4 are Accrued Construction
AccruedConstruction
624440000 usd
CY2023Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
401003000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
417656000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
56280000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
52723000 usd
CY2023Q1 are Deferred Rent Liability
DeferredRentLiability
19128000 usd
CY2022Q4 are Deferred Rent Liability
DeferredRentLiability
18321000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
405190000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
406700000 usd
CY2023Q1 are Prepaid Rent And Tenant Security Deposits
PrepaidRentAndTenantSecurityDeposits
461787000 usd
CY2022Q4 are Prepaid Rent And Tenant Security Deposits
PrepaidRentAndTenantSecurityDeposits
449622000 usd
CY2023Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
100202000 usd
CY2022Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
112056000 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2479047000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2471259000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
121693000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-117392000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
43831000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
32177000 usd
CY2023Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2606000 usd
CY2022Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2081000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
75256000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-151650000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
170784000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
158198000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
170784000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
158198000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.96
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.96
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
209300000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.21
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
276000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
170900000 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 are Preferred Stock Shares Additional Shares Authorized
PreferredStockSharesAdditionalSharesAuthorized
200000000 shares
CY2023Q1 are Preferred Stock Shares Additional Shares Authorized Issued And Outstanding
PreferredStockSharesAdditionalSharesAuthorizedIssuedAndOutstanding
0 shares
CY2023Q1 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAssets
117598000 usd
CY2022Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAssets
117197000 usd
CY2023Q1 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Liabilities
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsLiabilities
1688000 usd
CY2022Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Liabilities
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsLiabilities
2034000 usd
CY2023Q1 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Accumulated Other Comprehensive Income Loss
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAccumulatedOtherComprehensiveIncomeLoss
-761000 usd
CY2022Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Accumulated Other Comprehensive Income Loss
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAccumulatedOtherComprehensiveIncomeLoss
-898000 usd
CY2023Q1 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Net Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsNetAssets
116671000 usd
CY2022Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Net Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsNetAssets
116061000 usd

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