2023 Q4 Form 10-Q Financial Statement

#000103544323000303 Filed on October 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $769.5M $713.8M
YoY Change 14.8% 8.17%
Cost Of Revenue $222.7M $217.7M
YoY Change 8.99% 8.21%
Gross Profit $546.8M $521.1M
YoY Change 17.35% 13.61%
Gross Profit Margin 71.06% 73.0%
Selling, General & Admin $59.29M $46.00M
YoY Change 37.91% -7.92%
% of Gross Profit 10.84% 8.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $285.3M $269.3M
YoY Change 7.86% 5.64%
% of Gross Profit 52.18% 51.68%
Operating Expenses $344.5M $315.3M
YoY Change 12.05% 3.42%
Operating Profit $202.2M $205.8M
YoY Change 27.62% 33.83%
Interest Expense -$12.13M $11.41M
YoY Change -67.23% -50.35%
% of Operating Profit -6.0% 5.54%
Other Income/Expense, Net
YoY Change
Pretax Income -$42.66M $68.30M
YoY Change -144.78% -82.19%
Income Tax
% Of Pretax Income
Net Earnings -$91.93M $24.27M
YoY Change -277.49% -92.96%
Net Earnings / Revenue -11.95% 3.4%
Basic Earnings Per Share $0.13
Diluted Earnings Per Share -$0.54 $0.13
COMMON SHARES
Basic Shares Outstanding 173.8M shares 173.0M shares
Diluted Shares Outstanding 170.9M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $618.2M $532.0M
YoY Change -25.09% -0.34%
Cash & Equivalents $618.2M $532.4M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $8.211M $7.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $626.4M $539.0M
YoY Change -24.78% -0.48%
LONG-TERM ASSETS
Property, Plant & Equipment $26.56M $25.67M
YoY Change 14.55% 9.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $75.50M $73.91M
YoY Change 15.34% 31.11%
Other Assets $1.705B $1.675B
YoY Change 7.52% -9.65%
Total Long-Term Assets $36.15B $36.24B
YoY Change 4.19% 7.15%
TOTAL ASSETS
Total Short-Term Assets $626.4M $539.0M
Total Long-Term Assets $36.15B $36.24B
Total Assets $36.77B $36.78B
YoY Change 3.51% 7.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $524.4M $516.0M
YoY Change 34.56% 12.48%
Accrued Expenses $989.2M $1.092B
YoY Change -4.07% 7.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.735B $1.822B
YoY Change 6.47% 9.24%
LONG-TERM LIABILITIES
Long-Term Debt $11.32B $11.20B
YoY Change 11.38% 6.43%
Other Long-Term Liabilities $1.097B $1.045B
YoY Change 4.47% 13.64%
Total Long-Term Liabilities $12.41B $12.25B
YoY Change 10.73% 7.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.735B $1.822B
Total Long-Term Liabilities $12.41B $12.25B
Total Liabilities $14.15B $14.07B
YoY Change 10.19% 7.3%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.719M $1.710M
YoY Change 0.7% 5.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.47B $18.63B
YoY Change
Total Liabilities & Shareholders Equity $36.77B $36.78B
YoY Change 3.51% 7.03%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$91.93M $24.27M
YoY Change -277.49% -92.96%
Depreciation, Depletion And Amortization $285.3M $269.3M
YoY Change 7.86% 5.64%
Cash From Operating Activities $428.6M $417.9M
YoY Change 6.85% 15.11%
INVESTING ACTIVITIES
Capital Expenditures $825.7M $812.7M
YoY Change -160.65% -164.32%
Acquisitions
YoY Change
Other Investing Activities $435.6M $136.3M
YoY Change 28095.92% -78.67%
Cash From Investing Activities -$390.0M -$676.5M
YoY Change -71.32% 8.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.16M -133.6M
YoY Change -94.2% -121.9%
NET CHANGE
Cash From Operating Activities 428.6M 417.9M
Cash From Investing Activities -390.0M -676.5M
Cash From Financing Activities 55.16M -133.6M
Net Change In Cash 93.79M -392.2M
YoY Change -1282.69% -212.46%
FREE CASH FLOW
Cash From Operating Activities $428.6M $417.9M
Capital Expenditures $825.7M $812.7M
Free Cash Flow -$397.1M -$394.8M
YoY Change -122.53% -124.27%

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NetCashProvidedByUsedInFinancingActivities
618962000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3279025000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-624000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
450941000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
866168000 usd
us-gaap Interest Paid Net
InterestPaidNet
67852000 usd
are Issuanceofnoncontrollinginteresttojointventurepartner
Issuanceofnoncontrollinginteresttojointventurepartner
33250000 usd
are Issuanceofnoncontrollinginteresttojointventurepartner
Issuanceofnoncontrollinginteresttojointventurepartner
19146000 usd
are Noncashrightofuseasset
Noncashrightofuseasset
0 usd
are Noncashrightofuseasset
Noncashrightofuseasset
21776000 usd
are Noncashleaseliability
Noncashleaseliability
0 usd
are Noncashleaseliability
Noncashleaseliability
21776000 usd
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 mega 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 800 tenants, Alexandria has a total market capitalization of $28.3 billion and an asset base in North America of 75.1 million SF as of September 30, 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 total 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>
are Number Of Tenants
NumberOfTenants
800 property
CY2023Q3 are Market Capitalization
MarketCapitalization
28300000000 usd
CY2023Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
75100000 sqft
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>
CY2023Q3 are Cost Method Investment Ownership Percentage
CostMethodInvestmentOwnershipPercentage
0.10
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 and nine months ended September 30, 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:98.611%"><tr><td style="width:1.0%"></td><td style="width:41.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.504%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.421%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.504%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.984%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.926%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.421%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><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 September 30,</span></td><td colspan="3" style="padding:0 1pt"></td><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%">Nine Months Ended September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><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><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="padding:0 1pt"></td><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%">2023</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><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></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><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></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><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></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><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%">696,601 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">646,662 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</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%">2,069,042 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">1,879,534 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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><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%">653 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">642 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">1,951 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">2,449 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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><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%">697,254 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">647,304 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">2,070,993 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">1,881,983 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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><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%">10,277 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">9,549 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">28,826 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">28,383 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></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><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%">707,531 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">656,853 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">2,099,819 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">1,910,366 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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><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%">6,257 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">2,999 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">28,664 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><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%">8,315 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></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%">Total revenues</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">713,788 </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><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">659,852 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</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%">2,128,483 </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><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><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%">1,918,681 </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></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.</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 and nine months ended September 30, 2023, revenues that were subject to the lease accounting standard aggregated $697.3 million and $2.1 billion, respectively, and represented 97.7% and 97.3%, respectively, of our total revenues. During the three and nine months ended September 30, 2023, our total revenues also included $16.5 million, or 2.3%, and $57.5 million, or 2.7%, respectively, subject to other accounting guidance. Our other income consisted primarily of management fees and interest income earned during the three and nine months ended September 30, 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>
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
696601000 usd
CY2022Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
646662000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1879534000 usd
us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
2449000 usd
us-gaap Lease Income
LeaseIncome
1881983000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1918681000 usd
CY2023Q3 are Percentageoftotalrevenues
Percentageoftotalrevenues
0.977
are Percentageoftotalrevenues
Percentageoftotalrevenues
0.973
are Minimum Percentage Of Taxable Income To Be Distributed
MinimumPercentageOfTaxableIncomeToBeDistributed
0.90
are Contract With Customer Asset Adjustment For Allowance For Credit Loss
ContractWithCustomerAssetAdjustmentForAllowanceForCreditLoss
1000000 usd
CY2023Q3 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss
21400000 usd
are Percent Of Taxable Income Generally Distributed As Dividend
PercentOfTaxableIncomeGenerallyDistributedAsDividend
1
CY2023Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
31712731000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
29945440000 usd
CY2023Q1 are Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
3 property
CY2023Q2 are Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
0 property
CY2023Q3 are Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
2 property
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
214810000 usd
are Proceeds From Sale Of Real Estate Assets And Partial Interest
ProceedsFromSaleOfRealEstateAssetsAndPartialInterest
875448000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
189200000 usd
CY2023Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
20600000 usd
CY2023Q3 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
6700000 usd
CY2023Q3 us-gaap Direct Financing Lease Net Investment In Lease Allowance For Credit Loss
DirectFinancingLeaseNetInvestmentInLeaseAllowanceForCreditLoss
2800000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
21843000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
20892000 usd
CY2023Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
37695000 usd
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
38435000 usd
CY2023Q3 are Number Of Direct Financing Leases
NumberOfDirectFinancingLeases
1 directfinancinglease
CY2023Q3 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2 landparcel
CY2023Q3 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2 landparcel
CY2017Q4 are Rent Commence Date
RentCommenceDate
2017-10-01
CY2023Q3 are Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
Landparcelsubjecttoleaseagreementthatcontainsapurchaseoption
2 landparcel
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
449129000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1890662000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1889185000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1826408000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1732266000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
11630149000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
19417799000 usd
CY2023Q3 are Number Of Direct Financing Leases
NumberOfDirectFinancingLeases
1 directfinancinglease
CY2023Q3 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
39900000 usd
are Lessor Direct Financing Lease Remaining Lease Term
LessorDirectFinancingLeaseRemainingLeaseTerm
P69Y2M12D
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
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
253791000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
255186000 usd
CY2023Q3 are Direct Financing Lease Unearned Income
DirectFinancingLeaseUnearnedIncome
211044000 usd
CY2022Q4 are Direct Financing Lease Unearned Income
DirectFinancingLeaseUnearnedIncome
212995000 usd
CY2023Q3 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
CY2023Q3 us-gaap Net Investment In Lease
NetInvestmentInLease
39908000 usd
CY2022Q4 us-gaap Net Investment In Lease
NetInvestmentInLease
39352000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
21682000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
468000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
1919000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
1976000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
2036000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
2097000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
245295000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
253791000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
696601000 usd
CY2022Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
646662000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2069042000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1879534000 usd
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
653000 usd
CY2022Q3 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
642000 usd
us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
1951000 usd
us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
2449000 usd
CY2023Q3 us-gaap Lease Income
LeaseIncome
697254000 usd
CY2022Q3 us-gaap Lease Income
LeaseIncome
647304000 usd
us-gaap Lease Income
LeaseIncome
2070993000 usd
us-gaap Lease Income
LeaseIncome
1881983000 usd
CY2023Q3 are Ground And Operating Lease Obligation Due
GroundAndOperatingLeaseObligationDue
855900000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
385000000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
531300000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2023Q3 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
38 property
CY2023Q3 are Percentage Of Properties Subject To Ground Leases
PercentageOfPropertiesSubjectToGroundLeases
0.09
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5374000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21651000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
764444000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
855886000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
470928000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
384958000 usd
are Operating Lease Obligation Remaining Lease Term
OperatingLeaseObligationRemainingLeaseTerm
P13Y
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
9005000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
9349000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
30277000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
26843000 usd
CY2023Q3 are Capitalized Lease Costs
CapitalizedLeaseCosts
688000 usd
CY2022Q3 are Capitalized Lease Costs
CapitalizedLeaseCosts
847000 usd
are Capitalized Lease Costs
CapitalizedLeaseCosts
4906000 usd
are Capitalized Lease Costs
CapitalizedLeaseCosts
2699000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
8317000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
8502000 usd
us-gaap Lease Cost
LeaseCost
25371000 usd
us-gaap Lease Cost
LeaseCost
24144000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
24600000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
46800000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
532390000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
825193000 usd
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
35321000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
32782000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
567711000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
857975000 usd
CY2023Q3 are Cost Method Investment Ownership Percentage
CostMethodInvestmentOwnershipPercentage
0.10
CY2023Q3 are Number Of Equity Method Investments
NumberOfEquityMethodInvestments
9 investment
CY2023Q3 us-gaap Equity Method Investments
EquityMethodInvestments
73900000 usd
CY2023Q3 are Number Of Equity Method Investments
NumberOfEquityMethodInvestments
9 investment
CY2023Q3 are Fair Value Investments Privately Held Entities That Calculate Nav Unfunded Commitments
FairValueInvestmentsPrivatelyHeldEntitiesThatCalculateNAVUnfundedCommitments
381500000 usd
CY2023Q3 us-gaap Equity Method Investments
EquityMethodInvestments
73910000 usd
CY2023Q3 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
1181833000 usd
CY2023Q3 are Cumulative Unrealized Gains On Investments
CumulativeUnrealizedGainsOnInvestments
311448000 usd
CY2023Q3 are Cumulative Unrealized Losses On Investments
CumulativeUnrealizedLossesOnInvestments
135425000 usd
CY2023Q3 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
1431766000 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
CY2023Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-3470000 usd
CY2022Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
24210000 usd
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
16903000 usd
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
75971000 usd
CY2023Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-77202000 usd
CY2022Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-56515000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-220954000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-388076000 usd
CY2023Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-80672000 usd
CY2022Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-32305000 usd
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-204051000 usd
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-312105000 usd
CY2023Q3 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
25000000 usd
us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
68400000 usd
CY2023Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
28500000 usd
us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
-51500000 usd
CY2023Q3 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
492685000 usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
615638000 usd
CY2023Q3 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
38359000 usd
CY2022Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
33534000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32788000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
31747000 usd
CY2023Q3 us-gaap Deposits Assets
DepositsAssets
26505000 usd
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
20805000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25673000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23186000 usd
CY2023Q3 us-gaap Net Investment In Lease
NetInvestmentInLease
39908000 usd
CY2022Q4 us-gaap Net Investment In Lease
NetInvestmentInLease
39352000 usd
CY2023Q3 us-gaap Notes Receivable Net
NotesReceivableNet
15660000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
19875000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
531278000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
558255000 usd
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
108987000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
80724000 usd
CY2023Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
44136000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
28294000 usd
CY2023Q3 are Real Estate Corporate Operations
RealEstateCorporateOperations
145632000 usd
CY2022Q4 are Real Estate Corporate Operations
RealEstateCorporateOperations
148530000 usd
CY2023Q3 us-gaap Other Assets
OtherAssets
1501611000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
1599940000 usd
are Transfers In Fair Value Hierarchy
TransfersInFairValueHierarchy
0 transfer
CY2023Q3 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
1400000000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
1600000000 usd
CY2023Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
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CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
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CY2023Q3 us-gaap Long Term Debt
LongTermDebt
11202835000 usd
CY2023Q3 are Longterm Debt Percentage Bearing Fixed Interest Amount Net
LongtermDebtPercentageBearingFixedInterestAmountNet
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CY2023Q3 are Longterm Debt Percentage Bearing Variable Interest Amount Net
LongtermDebtPercentageBearingVariableInterestAmountNet
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CY2023Q3 us-gaap Long Term Debt
LongTermDebt
11202835000 usd
CY2023Q3 are Debt Instrument Percentage Of Outstanding Balance
DebtInstrumentPercentageOfOutstandingBalance
1.000
CY2023Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
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DebtInstrumentWeightedAverageRemainingPeriod
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FixedInterestRateDebtAsPercentageOfTotalOutstandingBalance
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CY2023Q3 are Variable Interest Rate Debt As Percentage Of Total Outstanding Balance
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CY2023Q3 are Debt Instrument Percentage Of Outstanding Balance
DebtInstrumentPercentageOfOutstandingBalance
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CY2023Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
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CY2022Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
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us-gaap Interest Costs Incurred
InterestCostsIncurred
317100000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
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CY2023Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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CY2022Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
73189000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
199154000 usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
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CY2022Q3 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
76681000 usd
CY2023Q3 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
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CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
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CY2023Q3 are Accrued Construction
AccruedConstruction
706900000 usd
CY2022Q4 are Accrued Construction
AccruedConstruction
624440000 usd
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
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CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
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CY2023Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
54161000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
52723000 usd
CY2023Q3 are Deferred Rent Liability
DeferredRentLiability
15650000 usd
CY2022Q4 are Deferred Rent Liability
DeferredRentLiability
18321000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
384958000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
406700000 usd
CY2023Q3 are Prepaid Rent And Tenant Security Deposits
PrepaidRentAndTenantSecurityDeposits
503126000 usd
CY2022Q4 are Prepaid Rent And Tenant Security Deposits
PrepaidRentAndTenantSecurityDeposits
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CY2023Q3 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
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CY2022Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
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CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2653126000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
2471259000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
68254000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
383443000 usd
us-gaap Profit Loss
ProfitLoss
323652000 usd
us-gaap Profit Loss
ProfitLoss
575433000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
43985000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
38747000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
131584000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
108092000 usd
CY2023Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2414000 usd
CY2022Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
3257000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
7697000 usd
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
5866000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
21855000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
341439000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
184371000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
461475000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
170890000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
161554000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
170846000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
160400000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 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
0 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
170890000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
161554000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
170846000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
160400000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.88
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.88
CY2023Q3 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Accumulated Other Comprehensive Income Loss
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAccumulatedOtherComprehensiveIncomeLoss
-2562000 usd
CY2022Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Accumulated Other Comprehensive Income Loss
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsAccumulatedOtherComprehensiveIncomeLoss
-898000 usd
CY2023Q3 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Net Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsNetAssets
79553000 usd
CY2022Q4 are Disposal Group Including Assets Heldfor Sale Not Qualifyingas Discontinued Operations Net Assets
DisposalGroupIncludingAssetsHeldforSaleNotQualifyingasDiscontinuedOperationsNetAssets
116061000 usd
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
214500000 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.24
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
214600000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.24
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
209300000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.21
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-4200000 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
171000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q3 are Preferred Stock Shares Additional Shares Authorized
PreferredStockSharesAdditionalSharesAuthorized
200000000 shares
CY2023Q3 are Preferred Stock Shares Additional Shares Authorized Issued And Outstanding
PreferredStockSharesAdditionalSharesAuthorizedIssuedAndOutstanding
0 shares
CY2023Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
80192000 usd
CY2022Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
117197000 usd
CY2023Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3201000 usd
CY2022Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
2034000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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