2022 Q1 Form 10-Q Financial Statement

#000072672822000056 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $807.3M $442.3M
YoY Change 82.55% 6.74%
Cost Of Revenue $52.34M $28.50M
YoY Change 83.66% 11.33%
Gross Profit $755.0M $414.3M
YoY Change 82.24% 6.59%
Gross Profit Margin 93.52% 93.68%
Selling, General & Admin $32.70M $20.80M
YoY Change 57.21% 18.86%
% of Gross Profit 4.33% 5.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $403.8M $178.0M
YoY Change 126.85% 8.14%
% of Gross Profit 53.48% 42.96%
Operating Expenses $417.2M $198.4M
YoY Change 110.26% 9.37%
Operating Profit $337.8M $215.9M
YoY Change 56.48% 4.15%
Interest Expense $106.4M $73.08M
YoY Change 45.61% -3.75%
% of Operating Profit 31.49% 33.85%
Other Income/Expense, Net $1.852M $550.0K
YoY Change 236.73% -161.11%
Pretax Income $211.0M $102.5M
YoY Change 105.89% -31.65%
Income Tax $10.98M $6.225M
% Of Pretax Income 5.21% 6.08%
Net Earnings $199.4M $95.94M
YoY Change 107.81% -34.66%
Net Earnings / Revenue 24.69% 21.69%
Basic Earnings Per Share $0.34 $0.26
Diluted Earnings Per Share $0.34 $0.26
COMMON SHARES
Basic Shares Outstanding 593.8M shares 371.5M shares
Diluted Shares Outstanding 594.0M shares 371.6M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $151.6M $184.0M
YoY Change -17.6% 338.1%
Cash & Equivalents $151.6M $184.0M
Short-Term Investments
Other Short-Term Assets $35.17M $18.00M
YoY Change 95.36% 12.5%
Inventory
Prepaid Expenses
Receivables $468.2M $307.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $655.0M $509.0M
YoY Change 28.67% 108.61%
LONG-TERM ASSETS
Property, Plant & Equipment $33.70B $18.43B
YoY Change 82.92% 9.67%
Goodwill $3.712B $14.11M
YoY Change 26199.99% -1.97%
Intangibles
YoY Change
Long-Term Investments $148.7M
YoY Change
Other Assets $84.07M $8.000M
YoY Change 950.83% -90.24%
Total Long-Term Assets $43.41B $20.47B
YoY Change 112.05% 10.34%
TOTAL ASSETS
Total Short-Term Assets $655.0M $509.0M
Total Long-Term Assets $43.41B $20.47B
Total Assets $44.06B $20.98B
YoY Change 110.02% 11.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $673.5M $217.0M
YoY Change 210.37% 0.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.130B $492.0M
YoY Change 129.58% 11.56%
LONG-TERM LIABILITIES
Long-Term Debt $15.97B $8.539B
YoY Change 87.06% 13.22%
Other Long-Term Liabilities $1.381B $381.0M
YoY Change 262.49% -4.03%
Total Long-Term Liabilities $17.35B $8.920B
YoY Change 94.55% 12.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.130B $492.0M
Total Long-Term Liabilities $17.35B $8.920B
Total Liabilities $18.48B $9.413B
YoY Change 96.37% 12.34%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $25.50B $11.53B
YoY Change
Total Liabilities & Shareholders Equity $44.06B $20.98B
YoY Change 110.02% 11.61%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $199.4M $95.94M
YoY Change 107.81% -34.66%
Depreciation, Depletion And Amortization $403.8M $178.0M
YoY Change 126.85% 8.14%
Cash From Operating Activities $513.5M $266.5M
YoY Change 92.71% 0.47%
INVESTING ACTIVITIES
Capital Expenditures -$1.539B -$1.028B
YoY Change 49.68% 115.64%
Acquisitions
YoY Change
Other Investing Activities $121.3M $34.70M
YoY Change 249.56% -72.35%
Cash From Investing Activities -$1.418B -$993.7M
YoY Change 42.7% 182.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $656.1M $669.6M
YoY Change -2.02% -8.14%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $821.1M $69.88M
YoY Change 1075.04% -55.0%
NET CHANGE
Cash From Operating Activities $513.5M $266.5M
Cash From Investing Activities -$1.418B -$993.7M
Cash From Financing Activities $821.1M $69.88M
Net Change In Cash -$89.52M -$657.3M
YoY Change -86.38% -1093.69%
FREE CASH FLOW
Cash From Operating Activities $513.5M $266.5M
Capital Expenditures -$1.539B -$1.028B
Free Cash Flow $2.053B $1.295B
YoY Change 58.53% 74.48%

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CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3445000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2739000 USD
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-722000 USD
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-722000 USD
CY2022Q1 o Gain Loss On Foreign Currency And Derivative Net
GainLossOnForeignCurrencyAndDerivativeNet
-590000 USD
CY2021Q1 o Gain Loss On Foreign Currency And Derivative Net
GainLossOnForeignCurrencyAndDerivativeNet
804000 USD
CY2022Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
10156000 USD
CY2021Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
8401000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
954000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2022Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
729000 USD
CY2021Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
0 USD
CY2022Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
7038000 USD
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2720000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
17698000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
21367000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-45491000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-32019000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
513479000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
266453000 USD
CY2022Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
1525836000 USD
CY2021Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
1026690000 USD
CY2022Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
13471000 USD
CY2021Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1741000 USD
CY2022Q1 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
122235000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
34705000 USD
CY2022Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
15892000 USD
CY2021Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
CY2022Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
16828000 USD
CY2021Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1418008000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-993726000 USD
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
438280000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
260697000 USD
CY2022Q1 o Proceeds From Long Term Lines Of Credit And Issuance Of Commercial Paper
ProceedsFromLongTermLinesOfCreditAndIssuanceOfCommercialPaper
2311812000 USD
CY2021Q1 o Proceeds From Long Term Lines Of Credit And Issuance Of Commercial Paper
ProceedsFromLongTermLinesOfCreditAndIssuanceOfCommercialPaper
1413694000 USD
CY2022Q1 o Repayments Of Long Term Lines Of Credit And Commercial Paper
RepaymentsOfLongTermLinesOfCreditAndCommercialPaper
2328990000 USD
CY2021Q1 o Repayments Of Long Term Lines Of Credit And Commercial Paper
RepaymentsOfLongTermLinesOfCreditAndCommercialPaper
735489000 USD
CY2022Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
676631000 USD
CY2021Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2021Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
950000000 USD
CY2022Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
43589000 USD
CY2021Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
18110000 USD
CY2022Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
CY2021Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
47235000 USD
CY2022Q1 o Proceeds From Dividend Reinvestment And Stock Purchase Plan Net
ProceedsFromDividendReinvestmentAndStockPurchasePlanNet
2799000 USD
CY2021Q1 o Proceeds From Dividend Reinvestment And Stock Purchase Plan Net
ProceedsFromDividendReinvestmentAndStockPurchasePlanNet
2654000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
656094000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
669590000 USD
CY2022Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
882000 USD
CY2021Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
402000 USD
CY2022Q1 us-gaap Proceeds From Hedge Financing Activities
ProceedsFromHedgeFinancingActivities
903000 USD
CY2021Q1 us-gaap Proceeds From Hedge Financing Activities
ProceedsFromHedgeFinancingActivities
845000 USD
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9692000 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2022Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5733000 USD
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4974000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
821073000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
69876000 USD
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-6063000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-89519000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-657349000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
332369000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
850679000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
242850000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
193330000 USD
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
11288 property
CY2022Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
50 state
CY2022Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
213900000 sqft
CY2022Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Lease Revenue Recognition and Accounts Receivable.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The COVID-19 pandemic and the measures taken to limit its spread have negatively impacted the economy across many industries, including the industries in which some of our clients operate. These impacts may continue as the duration and severity of the pandemic increases. As a result, we have closely monitored the collectability of our accounts receivable and continue to evaluate the potential impacts of the COVID-19 pandemic and the measures taken to limit its spread on our business and industry segments as the situation continues to evolve and more information becomes available.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We continue to assess the probability of collecting substantially all of the lease payments to which we are entitled under the original lease contract as required under Topic 842,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Leases</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. We assess the collectability of our future lease payments based on an analysis of creditworthiness, economic trends (including trends arising from the COVID-19 pandemic) and other facts and circumstances related to the applicable clients. If we conclude the collection of substantially all lease payments under a lease is less than probable, rental revenue recognized for that lease is limited to cash received going forward, existing operating lease receivables, including those related to straight-line rental revenue, must be written off as an adjustment to rental revenue, and no further operating lease receivables are recorded for that lease until such future determination is made that substantially all lease payments under that lease are now considered probable. If we subsequently conclude that the collection of substantially all lease payments under a lease is probable, a reversal of lease receivables previously written off is recognized.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of concessions granted to our clients as a result of the COVID-19 pandemic have been rent deferrals with the original lease term unchanged. In accordance with the guidance provided by the Financial Accounting Standards Board (FASB) staff, we have elected to account for these leases as if the right of deferral existed in the lease contract and therefore continue to recognize lease revenue in accordance with the lease contract in effect. In limited circumstances, the undiscounted cash flows resulting from deferrals granted increased significantly from original lease terms, which required us to account for these as lease modifications and resulted in an insignificant impact to consolidated rental revenue. Similarly, rent abatements granted, which are also accounted for as lease modifications, have impacted our rental revenue by an insignificant amount.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2022, other than the information related to the reserves recorded to date, we do not have any further client specific information that would change our assessment that collection of substantially all of the future lease payments under our existing leases is probable. However, since the conversations regarding rent collections for our clients affected by the COVID-19 pandemic are ongoing and we do not currently know the types of future concessions, if any, that will ultimately be granted, there may be impacts in future periods that could change this assessment as the situation continues to evolve and as more information becomes available.</span></div>
CY2022Q1 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
261302000 USD
CY2021Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
231943000 USD
CY2022Q1 us-gaap Other Receivables
OtherReceivables
206863000 USD
CY2021Q4 us-gaap Other Receivables
OtherReceivables
194825000 USD
CY2022Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
468165000 USD
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
426768000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5187280000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5275304000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
610601000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
631515000 USD
CY2022Q1 us-gaap Notes Receivable Net
NotesReceivableNet
438743000 USD
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
323921000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
369908000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
218332000 USD
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
84066000 USD
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
68541000 USD
CY2022Q1 us-gaap Derivative Assets
DerivativeAssets
74694000 USD
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
29593000 USD
CY2022Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
35165000 USD
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
18062000 USD
CY2022Q1 us-gaap Deposit Assets
DepositAssets
16828000 USD
CY2021Q4 us-gaap Deposit Assets
DepositAssets
28560000 USD
CY2022Q1 o Other Corporate Assets Net
OtherCorporateAssetsNet
11534000 USD
CY2021Q4 o Other Corporate Assets Net
OtherCorporateAssetsNet
10915000 USD
CY2022Q1 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
7506000 USD
CY2021Q4 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
7492000 USD
CY2022Q1 us-gaap Escrow Deposit
EscrowDeposit
7160000 USD
CY2021Q4 us-gaap Escrow Deposit
EscrowDeposit
5249000 USD
CY2022Q1 o Note Receivable Other
NoteReceivableOther
4732000 USD
CY2021Q4 o Note Receivable Other
NoteReceivableOther
4455000 USD
CY2022Q1 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
3661000 USD
CY2021Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
4352000 USD
CY2022Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
15211000 USD
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
18592000 USD
CY2022Q1 us-gaap Other Assets
OtherAssets
1679809000 USD
CY2021Q4 us-gaap Other Assets
OtherAssets
1369579000 USD
CY2022Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
32200000 USD
CY2021Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
36173000 USD
CY2022Q1 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
22728000 USD
CY2021Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
11297000 USD
CY2022Q1 o Accrued Property Expenses
AccruedPropertyExpenses
21160000 USD
CY2021Q4 o Accrued Property Expenses
AccruedPropertyExpenses
27344000 USD
CY2022Q1 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
19560000 USD
CY2021Q4 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
19665000 USD
CY2022Q1 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
17305000 USD
CY2021Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
19152000 USD
CY2022Q1 o Accrued Merger Costs
AccruedMergerCosts
5205000 USD
CY2021Q4 o Accrued Merger Costs
AccruedMergerCosts
10699000 USD
CY2022Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
41418000 USD
CY2021Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
44080000 USD
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
305574000 USD
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
351128000 USD
CY2022Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
1523238000 USD
CY2021Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
1460701000 USD
CY2022Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
172868000 USD
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
152480000 USD
CY2022Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1350370000 USD
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1308221000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
440084000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
461748000 USD
CY2022Q1 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
253731000 USD
CY2021Q4 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
242122000 USD
CY2022Q1 o Number Of Properties Acquired With Settlement Credit
NumberOfPropertiesAcquiredWithSettlementCredit
16 property
CY2022Q1 o Settlement Credits For Acquired Properties As Reimbursement For Rent Free Period
SettlementCreditsForAcquiredPropertiesAsReimbursementForRentFreePeriod
4300000 USD
CY2022Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
11323000 USD
CY2021Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
11340000 USD
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
41166000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
43987000 USD
CY2022Q1 us-gaap Other Liabilities
OtherLiabilities
746304000 USD
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
759197000 USD
CY2022Q1 o Real Estate Property Investments Number Of New Properties And Properties Under Development
RealEstatePropertyInvestmentsNumberOfNewPropertiesAndPropertiesUnderDevelopment
213 property
CY2022Q1 o Real Estate Property Investments Area Of Real Estate Property Acquired
RealEstatePropertyInvestmentsAreaOfRealEstatePropertyAcquired
7267000 sqft
CY2022Q1 o Real Estate Property Investments Value Of Properties Acquired
RealEstatePropertyInvestmentsValueOfPropertiesAcquired
1555300000 USD
CY2022Q1 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P12Y3M18D
CY2022Q1 o Asset Acquisition Initial Average Cash Lease Yield For Acquired Properties Percentage
AssetAcquisitionInitialAverageCashLeaseYieldForAcquiredPropertiesPercentage
0.056
CY2022Q1 o Rental Revenue Generated From Acquisitions Investment Grade Tenants Percentage
RentalRevenueGeneratedFromAcquisitionsInvestmentGradeTenantsPercentage
0.26
CY2021Q1 o Asset Acquisition Initial Average Cash Lease Yield For Acquired Properties Percentage
AssetAcquisitionInitialAverageCashLeaseYieldForAcquiredPropertiesPercentage
0.053
CY2022Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y9M18D
CY2022Q1 o Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P10Y3M18D
CY2021Q1 o Real Estate Property Investments Number Of New Properties And Properties Under Development
RealEstatePropertyInvestmentsNumberOfNewPropertiesAndPropertiesUnderDevelopment
110 property
CY2021Q1 o Real Estate Property Investments Area Of Real Estate Property Acquired
RealEstatePropertyInvestmentsAreaOfRealEstatePropertyAcquired
4829000 sqft
CY2021Q1 o Real Estate Property Investments Value Of Properties Acquired
RealEstatePropertyInvestmentsValueOfPropertiesAcquired
1027800000 USD
CY2021Q1 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P12Y7M6D
CY2021Q1 o Rental Revenue Generated From Acquisitions Investment Grade Tenants Percentage
RentalRevenueGeneratedFromAcquisitionsInvestmentGradeTenantsPercentage
0.39
CY2021Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P16Y9M18D
CY2021Q1 o Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P11Y10M24D
CY2022Q1 o Property Sales Count
PropertySalesCount
34 property
CY2022Q1 o Commercial Paper Program Maximum Aggregate Capacity
CommercialPaperProgramMaximumAggregateCapacity
1000000000 USD
CY2021Q1 o Property Sales Count
PropertySalesCount
27 property
CY2022Q1 o Proceeds From Sale Of Property Held For Sale Including Property Swap Net
ProceedsFromSaleOfPropertyHeldForSaleIncludingPropertySwapNet
122200000 USD
CY2021Q1 o Proceeds From Sale Of Property Held For Sale Including Property Swap Net
ProceedsFromSaleOfPropertyHeldForSaleIncludingPropertySwapNet
34700000 USD
CY2022Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
10200000 USD
CY2021Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
8400000 USD
CY2022Q1 us-gaap Commercial Paper
CommercialPaper
950000000 USD
CY2021Q4 us-gaap Commercial Paper
CommercialPaper
901400000 USD
CY2022Q1 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.008
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
669600000 USD
CY2022Q1 o Number Of Noncontrolling Interests Consolidated
NumberOfNoncontrollingInterestsConsolidated
4 noncontrolling_interest
CY2022Q1 o Number Of Development Joint Ventures
NumberOfDevelopmentJointVentures
2 joint_venture
CY2020 o Number Of Development Joint Ventures Acquired
NumberOfDevelopmentJointVenturesAcquired
1 joint_venture
CY2021Q2 o Number Of Development Joint Ventures Acquired
NumberOfDevelopmentJointVenturesAcquired
1 joint_venture
CY2022Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
7000000.0 USD
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2700000 USD
CY2022Q1 o Impaired Properties Held For Sale Number
ImpairedPropertiesHeldForSaleNumber
18 property
CY2021Q1 o Impaired Properties Held For Sale Number
ImpairedPropertiesHeldForSaleNumber
1 property
CY2022Q1 o Impaired Properties Held For Investment Number
ImpairedPropertiesHeldForInvestmentNumber
0 property
CY2021Q1 o Impaired Properties Held For Investment Number
ImpairedPropertiesHeldForInvestmentNumber
2 property
CY2022Q1 o Impaired Properties Sold Number
ImpairedPropertiesSoldNumber
16 property
CY2021Q1 o Impaired Properties Sold Number
ImpairedPropertiesSoldNumber
18 property
CY2022Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
7000000 USD
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2700000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
43690000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
46409000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
3584000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-3693000 USD
CY2022Q1 o Derivative Instruments Not Designated As Hedging Instruments Realized Gain Loss On Settlement
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedGainLossOnSettlement
-2681000 USD
CY2021Q1 o Derivative Instruments Not Designated As Hedging Instruments Realized Gain Loss On Settlement
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedGainLossOnSettlement
0 USD
CY2022Q1 o Derivative Realized Gain Loss Reclassification Upon Settlement
DerivativeRealizedGainLossReclassificationUponSettlement
6114000 USD
CY2021Q1 o Derivative Realized Gain Loss Reclassification Upon Settlement
DerivativeRealizedGainLossReclassificationUponSettlement
-1152000 USD
CY2022Q1 o Foreign Currency And Derivative Realized Gain Loss Settlement With Third Parties
ForeignCurrencyAndDerivativeRealizedGainLossSettlementWithThirdParties
-52000 USD
CY2021Q1 o Foreign Currency And Derivative Realized Gain Loss Settlement With Third Parties
ForeignCurrencyAndDerivativeRealizedGainLossSettlementWithThirdParties
0 USD
CY2022Q1 o Gain Loss On Foreign Currency And Derivative Net Realized
GainLossOnForeignCurrencyAndDerivativeNetRealized
3381000 USD
CY2021Q1 o Gain Loss On Foreign Currency And Derivative Net Realized
GainLossOnForeignCurrencyAndDerivativeNetRealized
-1152000 USD
CY2022Q1 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
22720000 USD
CY2021Q1 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
3724000 USD
CY2022Q1 o Unrealized Gain Loss Remeasurement Certain Assets And Liabilities
UnrealizedGainLossRemeasurementCertainAssetsAndLiabilities
-26691000 USD
CY2021Q1 o Unrealized Gain Loss Remeasurement Certain Assets And Liabilities
UnrealizedGainLossRemeasurementCertainAssetsAndLiabilities
-1768000 USD
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1000000 USD
CY2022Q1 o Gain Loss On Foreign Currency And Derivative Net Unrealized
GainLossOnForeignCurrencyAndDerivativeNetUnrealized
-3971000 USD
CY2021Q1 o Gain Loss On Foreign Currency And Derivative Net Unrealized
GainLossOnForeignCurrencyAndDerivativeNetUnrealized
1956000 USD
CY2022Q1 o Gain Loss On Foreign Currency And Derivative Net
GainLossOnForeignCurrencyAndDerivativeNet
-590000 USD
CY2021Q1 o Gain Loss On Foreign Currency And Derivative Net
GainLossOnForeignCurrencyAndDerivativeNet
804000 USD
CY2022Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
2444100000 USD
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
2731900000 USD
CY2022Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
44000000.0 USD
CY2021Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-41100000 USD
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
11288 property
CY2022Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
50 state
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
11288 property
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3700000 USD
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2465
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2345
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2465
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2345
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2465
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2345
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.7395
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.7035
CY2022Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.2470
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
593827299 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
371522607 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
214540 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
79294 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
594041839 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
371601901 shares
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
118187000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
94825000 USD
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
12318000 USD
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
3444000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
151624000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
183984000 USD
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
84066000 USD
CY2021Q1 us-gaap Restricted Cash
RestrictedCash
7776000 USD
CY2022Q1 us-gaap Escrow Deposit
EscrowDeposit
7160000 USD
CY2021Q1 us-gaap Escrow Deposit
EscrowDeposit
1570000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
242850000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
193330000 USD
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
70 segment
CY2022Q1 o Real Estate Investment Property Net Including Disposal Group Assets
RealEstateInvestmentPropertyNetIncludingDisposalGroupAssets
32716532000 USD
CY2021Q4 o Real Estate Investment Property Net Including Disposal Group Assets
RealEstateInvestmentPropertyNetIncludingDisposalGroupAssets
31988872000 USD
CY2022Q1 us-gaap Goodwill
Goodwill
3711981000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
3676705000 USD
CY2022Q1 o Other Corporate Assets
OtherCorporateAssets
2440870000 USD
CY2021Q4 o Other Corporate Assets
OtherCorporateAssets
2195800000 USD
CY2022Q1 us-gaap Assets
Assets
44062017000 USD
CY2021Q4 us-gaap Assets
Assets
43137502000 USD
CY2022Q1 us-gaap Lease Income
LeaseIncome
799565000 USD
CY2021Q1 us-gaap Lease Income
LeaseIncome
439365000 USD
CY2022Q1 us-gaap Other Income
OtherIncome
7778000 USD
CY2021Q1 us-gaap Other Income
OtherIncome
2889000 USD
CY2022Q1 us-gaap Revenues
Revenues
807343000 USD
CY2021Q1 us-gaap Revenues
Revenues
442254000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0 USD

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