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Realty Income Corp

2024 Q2 Form 10-Q Financial Statement

#000072672824000077 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $1.339B $1.260B $944.4M
YoY Change 31.42% 33.47% 16.98%
Cost Of Revenue $99.85M $89.36M $69.40M
YoY Change 5.44% 28.77% 32.58%
Gross Profit $1.240B $1.171B $875.0M
YoY Change 34.08% 33.84% 15.89%
Gross Profit Margin 92.55% 92.91% 92.65%
Selling, General & Admin $45.07M $40.84M $34.17M
YoY Change 22.38% 19.54% 4.49%
% of Gross Profit 3.64% 3.49% 3.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $605.6M $581.1M $451.5M
YoY Change 28.22% 28.7% 11.82%
% of Gross Profit 48.85% 49.62% 51.6%
Operating Expenses $650.7M $617.6M $485.6M
YoY Change 32.59% 27.18% 16.42%
Operating Profit $588.9M $553.5M $389.4M
YoY Change 35.77% 42.15% 15.25%
Interest Expense $246.9M $240.6M $154.1M
YoY Change -221.64% 56.11% 44.86%
% of Operating Profit 41.93% 43.47% 39.59%
Other Income/Expense, Net $6.108M $5.446M $2.730M
YoY Change 257.82% 99.49% 47.41%
Pretax Income $276.6M $149.4M $238.1M
YoY Change 31.67% -37.25% 12.86%
Income Tax $15.64M $15.50M $11.95M
% Of Pretax Income 5.65% 10.38% 5.02%
Net Earnings $259.4M $132.3M $225.0M
YoY Change 32.74% -41.21% 12.86%
Net Earnings / Revenue 19.37% 10.49% 23.83%
Basic Earnings Per Share $0.30 $0.16 $0.34
Diluted Earnings Per Share $0.29 $0.16 $0.34
COMMON SHARES
Basic Shares Outstanding 870.8M shares 861.1M shares 660.5M shares
Diluted Shares Outstanding 870.7M shares 835.2M shares 661.2M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $442.8M $680.2M $164.6M
YoY Change 74.55% 313.28% 8.54%
Cash & Equivalents $442.8M $680.2M $164.6M
Short-Term Investments
Other Short-Term Assets $59.00M $62.81M $47.18M
YoY Change 49.0% 33.13% 34.16%
Inventory
Prepaid Expenses
Receivables $788.6M $789.2M $617.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.290B $1.532B $781.9M
YoY Change 41.21% 95.95% 19.39%
LONG-TERM ASSETS
Property, Plant & Equipment $51.49B $51.50B $38.96B
YoY Change 21.66% 32.18% 15.61%
Goodwill $4.931B $4.991B $3.731B
YoY Change 32.15% 33.76% 0.53%
Intangibles
YoY Change
Long-Term Investments $1.226B $1.209B $5.977M
YoY Change 20320.74% 20133.21% -95.98%
Other Assets $18.81M $6.401M $50.01M
YoY Change -21.63% -87.2% -40.51%
Total Long-Term Assets $66.77B $66.80B $50.32B
YoY Change 25.82% 32.74% 15.92%
TOTAL ASSETS
Total Short-Term Assets $1.290B $1.532B $781.9M
Total Long-Term Assets $66.77B $66.80B $50.32B
Total Assets $68.06B $68.33B $51.10B
YoY Change 26.08% 33.71% 15.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $422.4M
YoY Change
Accrued Expenses $1.202B $1.117B $746.4M
YoY Change 41.82% 49.63% 10.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.837B $1.766B $595.6M
YoY Change 26.19% 196.43% -47.27%
LONG-TERM LIABILITIES
Long-Term Debt $25.51B $25.40B $18.88B
YoY Change 29.64% 34.49% 18.22%
Other Long-Term Liabilities $1.795B $1.848B $2.235B
YoY Change 17.09% -17.33% 61.83%
Total Long-Term Liabilities $27.31B $27.24B $21.12B
YoY Change 28.73% 29.01% 21.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.837B $1.766B $595.6M
Total Long-Term Liabilities $27.31B $27.24B $21.12B
Total Liabilities $29.15B $29.01B $21.71B
YoY Change 27.63% 33.6% 17.48%
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 $38.58B $38.99B $29.26B
YoY Change
Total Liabilities & Shareholders Equity $68.06B $68.33B $51.10B
YoY Change 26.08% 33.71% 15.98%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $259.4M $132.3M $225.0M
YoY Change 32.74% -41.21% 12.86%
Depreciation, Depletion And Amortization $605.6M $581.1M $451.5M
YoY Change 28.22% 28.7% 11.82%
Cash From Operating Activities $981.2M $778.7M $731.2M
YoY Change 33.51% 6.49% 42.41%
INVESTING ACTIVITIES
Capital Expenditures $399.1M $545.5M $1.689B
YoY Change -86.82% -67.7% -209.72%
Acquisitions -$93.68M $0.00
YoY Change
Other Investing Activities -$246.0M $156.7M $11.28M
YoY Change -521.5% 1289.74% -90.7%
Cash From Investing Activities -$645.1M -$388.8M -$1.678B
YoY Change -78.27% -76.83% 18.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -560.6M $17.03M $949.8M
YoY Change -124.4% -98.21% 15.68%
NET CHANGE
Cash From Operating Activities 981.2M $778.7M $731.2M
Cash From Investing Activities -645.1M -$388.8M -$1.678B
Cash From Financing Activities -560.6M $17.03M $949.8M
Net Change In Cash -224.5M $404.6M $16.88M
YoY Change -453.21% 2296.42% -118.86%
FREE CASH FLOW
Cash From Operating Activities $981.2M $778.7M $731.2M
Capital Expenditures $399.1M $545.5M $1.689B
Free Cash Flow $582.1M $233.1M -$957.8M
YoY Change -125.39% -124.34% -146.66%

Facts In Submission

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731234000 usd
CY2024Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
535903000 usd
CY2023Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
1675136000 usd
CY2024Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
9628000 usd
CY2023Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
13860000 usd
CY2024Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
38070000 usd
CY2023Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 usd
CY2024Q1 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
95624000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
28594000 usd
CY2024Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
5468000 usd
CY2023Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 usd
CY2024Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
16000 usd
CY2023Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
6282000 usd
CY2024Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
0 usd
CY2023Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
23599000 usd
CY2024Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-93683000 usd
CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-388810000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1677719000 usd
CY2024Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
636499000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
497245000 usd
CY2024Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2588000 usd
CY2023Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 usd
CY2024Q1 o Proceeds From Long Term Lines Of Credit And Issuance Of Commercial Paper
ProceedsFromLongTermLinesOfCreditAndIssuanceOfCommercialPaper
8018932000 usd
CY2023Q1 o Proceeds From Long Term Lines Of Credit And Issuance Of Commercial Paper
ProceedsFromLongTermLinesOfCreditAndIssuanceOfCommercialPaper
4249746000 usd
CY2024Q1 o Repayments Of Long Term Lines Of Credit And Commercial Paper
RepaymentsOfLongTermLinesOfCreditAndCommercialPaper
7748935000 usd
CY2023Q1 o Repayments Of Long Term Lines Of Credit And Commercial Paper
RepaymentsOfLongTermLinesOfCreditAndCommercialPaper
5690060000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1029383000 usd
CY2024Q1 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
250000000 usd
CY2023Q1 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0 usd
CY2024Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1250000000 usd
CY2023Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1090968000 usd
CY2024Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
499999000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 usd
CY2024Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
621175000 usd
CY2023Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1233000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
543538000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
796190000 usd
CY2024Q1 o Proceeds From Dividend Reinvestment And Stock Purchase Plan Net
ProceedsFromDividendReinvestmentAndStockPurchasePlanNet
3117000 usd
CY2023Q1 o Proceeds From Dividend Reinvestment And Stock Purchase Plan Net
ProceedsFromDividendReinvestmentAndStockPurchasePlanNet
2711000 usd
CY2024Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
2268000 usd
CY2023Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
1479000 usd
CY2024Q1 us-gaap Payments For Proceeds From Hedge Financing Activities
PaymentsForProceedsFromHedgeFinancingActivities
0 usd
CY2023Q1 us-gaap Payments For Proceeds From Hedge Financing Activities
PaymentsForProceedsFromHedgeFinancingActivities
6452000 usd
CY2024Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
28603000 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
16603000 usd
CY2024Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8493000 usd
CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-6102000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17027000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
949824000 usd
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2279000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13545000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
404611000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16884000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
292175000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
226881000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
696786000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
243765000 usd
CY2024Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
15485 property
CY2024Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
334200000 sqft
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Noncurrent
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent
205339000 usd
CY2024Q1 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
82619000 usd
CY2023Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
100672000 usd
CY2024Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
62806000 usd
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
33252000 usd
CY2024Q1 us-gaap Derivative Assets
DerivativeAssets
52492000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The consolidated financial statements were prepared in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2024Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="margin-top:10pt;text-align:justify"><span style="background-color:#ffffff;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="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The majority of our leases are accounted for as operating leases. Under this method, leases that have fixed and d</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">eterminable rent increases are recognized on a straight-line basis over the lease term. Any rental revenue contingent upon a client’s sales, or percentage rent, is recognized only after such client exceeds its sales breakpoint. Rental increases based upon changes in the consumer price indices are recognized only after the changes in the indexes have occurred and are then applied according to the lease agreements. Contractually obligated rental revenue from our clients for recoverable real estate taxes and operating expenses are included in contractually obligated reimbursements by our clients, a </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">component of rental revenue, in the period when such costs are incurred. Taxes and operating expenses paid directly by our clients are recorded on a net basis. </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other revenue includes certain property-related revenue not included in rental revenue and interest income recognized on financing receivables for certain leases with above-market terms.</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We assess the probability of collecting substantially all of the lease payments to which we are entitled under the original lease contract as required under ASC 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 and other facts and circumstances related to the applicable clients. If we conclude the collection of substantially all of the 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>
CY2023Q4 o Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Additional Financing Generated From Sales Leaseback Transactions
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestAdditionalFinancingGeneratedFromSalesLeasebackTransactions
1570943000 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
705006000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
706837000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
649936000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
594712000 usd
CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss Noncurrent
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent
253426000 usd
CY2024Q1 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
563589000 usd
CY2023Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
516692000 usd
CY2024Q1 us-gaap Other Receivables
OtherReceivables
225655000 usd
CY2023Q4 us-gaap Other Receivables
OtherReceivables
193844000 usd
CY2024Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
789244000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
710536000 usd
CY2024Q1 o Finite Lived Intangible Assets Other
FiniteLivedIntangibleAssetsOther
1758000 usd
CY2023Q4 o Finite Lived Intangible Assets Other
FiniteLivedIntangibleAssetsOther
1799000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7037328000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5017907000 usd
CY2024Q1 o Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Additional Financing Generated From Sales Leaseback Transactions
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestAdditionalFinancingGeneratedFromSalesLeasebackTransactions
1566714000 usd
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
21170000 usd
CY2024Q1 o Other Corporate Assets Net
OtherCorporateAssetsNet
13378000 usd
CY2023Q4 o Other Corporate Assets Net
OtherCorporateAssetsNet
12948000 usd
CY2024Q1 us-gaap Interest Receivable
InterestReceivable
11046000 usd
CY2023Q4 us-gaap Interest Receivable
InterestReceivable
6139000 usd
CY2024Q1 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
11030000 usd
CY2023Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
12264000 usd
CY2024Q1 us-gaap Escrow Deposit
EscrowDeposit
10226000 usd
CY2023Q4 us-gaap Escrow Deposit
EscrowDeposit
53005000 usd
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
6401000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
6247000 usd
CY2024Q1 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
6076000 usd
CY2023Q4 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
6056000 usd
CY2024Q1 us-gaap Deposit Assets
DepositAssets
0 usd
CY2023Q4 us-gaap Deposit Assets
DepositAssets
200000 usd
CY2024Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
47432000 usd
CY2023Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
38859000 usd
CY2024Q1 us-gaap Other Assets
OtherAssets
3478588000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
3368643000 usd
CY2024Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
105809000 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
119620000 usd
CY2024Q1 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
91844000 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
64885000 usd
CY2024Q1 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
86276000 usd
CY2023Q4 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
65967000 usd
CY2024Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
82442000 usd
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
78809000 usd
CY2024Q1 o Accrued Property Expenses
AccruedPropertyExpenses
52464000 usd
CY2023Q4 o Accrued Property Expenses
AccruedPropertyExpenses
54208000 usd
CY2024Q1 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
51516000 usd
CY2023Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
61070000 usd
CY2024Q1 o Accrued Acquisition Related Costs
AccruedAcquisitionRelatedCosts
24088000 usd
CY2023Q4 o Accrued Acquisition Related Costs
AccruedAcquisitionRelatedCosts
4551000 usd
CY2024Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
60305000 usd
CY2023Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
62025000 usd
CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
802652000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
738526000 usd
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
1728027000 usd
CY2024Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
359189000 usd
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
321174000 usd
CY2024Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1740200000 usd
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1406853000 usd
CY2024Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
2099389000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
480303000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
425213000 usd
CY2024Q1 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
328572000 usd
CY2023Q4 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
312195000 usd
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
55590000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
44345000 usd
CY2024Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
34031000 usd
CY2023Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
28250000 usd
CY2024Q1 o Other Liabilities Acquisitions
OtherLiabilitiesAcquisitions
1610000 usd
CY2023Q4 o Other Liabilities Acquisitions
OtherLiabilitiesAcquisitions
1647000 usd
CY2024Q1 us-gaap Other Liabilities
OtherLiabilities
900106000 usd
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
811650000 usd
CY2024Q1 o Real Estate Property Investments Number Of New Properties And Properties Under Development
RealEstatePropertyInvestmentsNumberOfNewPropertiesAndPropertiesUnderDevelopment
153 property
CY2024Q1 o Real Estate Property Investments Area Of Real Estate Property Acquired
RealEstatePropertyInvestmentsAreaOfRealEstatePropertyAcquired
6668000 sqft
CY2024Q1 o Real Estate Property Investments Value Of Properties Acquired
RealEstatePropertyInvestmentsValueOfPropertiesAcquired
559900000 usd
CY2024Q1 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P10Y2M12D
CY2024Q1 o Asset Acquisition Initial Average Cash Lease Yield For Acquired Properties Percentage
AssetAcquisitionInitialAverageCashLeaseYieldForAcquiredPropertiesPercentage
0.078
CY2024Q1 o Settlement Credits For Acquired Properties As Reimbursement For Rent Free Period
SettlementCreditsForAcquiredPropertiesAsReimbursementForRentFreePeriod
500000 usd
CY2024Q1 o Rental Revenue Generated From Acquisitions Investment Grade Tenants Percentage
RentalRevenueGeneratedFromAcquisitionsInvestmentGradeTenantsPercentage
0.410
CY2024Q1 o Real Estate Properties Acquired Land
RealEstatePropertiesAcquiredLand
18400000 usd
CY2024Q1 o Real Estate Properties Acquired Land
RealEstatePropertiesAcquiredLand
59000000.0 gbp
CY2024Q1 o Real Estate Properties Acquired Land
RealEstatePropertiesAcquiredLand
2000000.0 eur
CY2024Q1 o Real Estate Properties Acquired Buildings And Improvements
RealEstatePropertiesAcquiredBuildingsAndImprovements
88900000 usd
CY2024Q1 o Real Estate Properties Acquired Buildings And Improvements
RealEstatePropertiesAcquiredBuildingsAndImprovements
124300000 gbp
CY2024Q1 o Real Estate Properties Acquired Buildings And Improvements
RealEstatePropertiesAcquiredBuildingsAndImprovements
5000000.0 eur
CY2024Q1 o Real Estate Properties Acquired Intangible Assets
RealEstatePropertiesAcquiredIntangibleAssets
21000000.0 usd
CY2024Q1 o Real Estate Properties Acquired Intangible Assets
RealEstatePropertiesAcquiredIntangibleAssets
50400000 gbp
CY2024Q1 o Real Estate Properties Acquired Intangible Assets
RealEstatePropertiesAcquiredIntangibleAssets
1100000 eur
CY2024Q1 o Real Estate Properties Acquired Other Assets
RealEstatePropertiesAcquiredOtherAssets
3000000.0 usd
CY2024Q1 o Real Estate Properties Acquired Other Assets
RealEstatePropertiesAcquiredOtherAssets
0 gbp
CY2024Q1 o Real Estate Properties Acquired Other Assets
RealEstatePropertiesAcquiredOtherAssets
0 eur
CY2024Q1 o Real Estate Properties Acquired Lease Intangible Liabilities
RealEstatePropertiesAcquiredLeaseIntangibleLiabilities
3200000 usd
CY2024Q1 o Real Estate Properties Acquired Lease Intangible Liabilities
RealEstatePropertiesAcquiredLeaseIntangibleLiabilities
900000 gbp
CY2024Q1 o Real Estate Properties Acquired Lease Intangible Liabilities
RealEstatePropertiesAcquiredLeaseIntangibleLiabilities
200000 eur
CY2024Q1 o Real Estate Properties Acquired Other Liabilities
RealEstatePropertiesAcquiredOtherLiabilities
0 usd
CY2024Q1 o Real Estate Properties Acquired Other Liabilities
RealEstatePropertiesAcquiredOtherLiabilities
0 gbp
CY2024Q1 o Real Estate Properties Acquired Other Liabilities
RealEstatePropertiesAcquiredOtherLiabilities
0 eur
CY2024Q1 o Real Estate Properties Acquired Assets Acquired And Liabilities Assumed Net
RealEstatePropertiesAcquiredAssetsAcquiredAndLiabilitiesAssumedNet
128100000 usd
CY2024Q1 o Real Estate Properties Acquired Assets Acquired And Liabilities Assumed Net
RealEstatePropertiesAcquiredAssetsAcquiredAndLiabilitiesAssumedNet
232800000 gbp
CY2024Q1 o Real Estate Properties Acquired Assets Acquired And Liabilities Assumed Net
RealEstatePropertiesAcquiredAssetsAcquiredAndLiabilitiesAssumedNet
7900000 eur
CY2024Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P9Y4M24D
CY2024Q1 o Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P12Y
CY2024Q1 o Asset Acquisition Pro Forma Information Revenue Of Acquired Properties Since Acquisition Date Actual
AssetAcquisitionProFormaInformationRevenueOfAcquiredPropertiesSinceAcquisitionDateActual
2600000 usd
CY2024Q1 o Asset Acquisition Pro Forma Information Earnings Or Loss Of Acquired Properties Since Acquisition Date Actual
AssetAcquisitionProFormaInformationEarningsOrLossOfAcquiredPropertiesSinceAcquisitionDateActual
900000 usd
CY2024Q1 o Property Sales Count
PropertySalesCount
46 property
CY2023Q1 o Property Sales Count
PropertySalesCount
26 property
CY2024Q1 o Proceeds From Sale Of Property Held For Sale Including Property Swap Net
ProceedsFromSaleOfPropertyHeldForSaleIncludingPropertySwapNet
95600000 usd
CY2023Q1 o Proceeds From Sale Of Property Held For Sale Including Property Swap Net
ProceedsFromSaleOfPropertyHeldForSaleIncludingPropertySwapNet
28600000 usd
CY2024Q1 o Gain Loss On Sale Of Properties Excluding Additional Proceeds Received
GainLossOnSaleOfPropertiesExcludingAdditionalProceedsReceived
16600000 usd
CY2023Q1 o Gain Loss On Sale Of Properties Excluding Additional Proceeds Received
GainLossOnSaleOfPropertiesExcludingAdditionalProceedsReceived
4300000 usd
CY2024Q1 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
1203263000 usd
CY2023Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
1172118000 usd
CY2024Q1 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
2200000 usd
CY2024Q1 o Real Estate Properties Acquired Liabilities
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CY2024Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
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CY2024Q1 us-gaap Commercial Paper
CommercialPaper
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CY2023Q4 us-gaap Commercial Paper
CommercialPaper
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CY2023Q4 us-gaap Commercial Paper
CommercialPaper
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CY2024Q1 us-gaap Short Term Debt Weighted Average Interest Rate
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CY2024Q1 o Number Of Noncontrolling Interests Consolidated
NumberOfNoncontrollingInterestsConsolidated
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DerivativeNotionalAmount
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CY2023Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
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CY2024Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
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CY2023Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
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CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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CY2024Q1 o Derivative Instruments Not Designated As Hedging Instruments Realized Gain Loss On Settlement
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedGainLossOnSettlement
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CY2023Q1 o Derivative Instruments Not Designated As Hedging Instruments Realized Gain Loss On Settlement
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsRealizedGainLossOnSettlement
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CY2024Q1 o Derivative Realized Gain Loss Reclassification Upon Settlement
DerivativeRealizedGainLossReclassificationUponSettlement
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CY2023Q1 o Derivative Realized Gain Loss Reclassification Upon Settlement
DerivativeRealizedGainLossReclassificationUponSettlement
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CY2024Q1 o Foreign Currency And Derivative Realized Gain Loss Settlement With Third Parties
ForeignCurrencyAndDerivativeRealizedGainLossSettlementWithThirdParties
-6000 usd
CY2023Q1 o Foreign Currency And Derivative Realized Gain Loss Settlement With Third Parties
ForeignCurrencyAndDerivativeRealizedGainLossSettlementWithThirdParties
1326000 usd
CY2024Q1 o Gain Loss On Foreign Currency And Derivative Net Realized
GainLossOnForeignCurrencyAndDerivativeNetRealized
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CY2023Q1 o Gain Loss On Foreign Currency And Derivative Net Realized
GainLossOnForeignCurrencyAndDerivativeNetRealized
2706000 usd
CY2024Q1 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
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CY2023Q1 us-gaap Gain Loss On Derivative Instruments Held For Trading Purposes Net
GainLossOnDerivativeInstrumentsHeldForTradingPurposesNet
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CY2024Q1 o Unrealized Gain Loss Remeasurement Certain Assets And Liabilities
UnrealizedGainLossRemeasurementCertainAssetsAndLiabilities
13738000 usd
CY2023Q1 o Unrealized Gain Loss Remeasurement Certain Assets And Liabilities
UnrealizedGainLossRemeasurementCertainAssetsAndLiabilities
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CY2024Q1 o Gain Loss On Foreign Currency And Derivative Net Unrealized
GainLossOnForeignCurrencyAndDerivativeNetUnrealized
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CY2023Q1 o Gain Loss On Foreign Currency And Derivative Net Unrealized
GainLossOnForeignCurrencyAndDerivativeNetUnrealized
7616000 usd
CY2024Q1 o Gain Loss On Foreign Currency And Unrealized Derivatives Net
GainLossOnForeignCurrencyAndUnrealizedDerivativesNet
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CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2565
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CommonStockDividendsPerShareCashPaid
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DividendsPayableAmountPerShare
0.2570
CY2024Q1 o Share Based Compensation Arrangement By Share Based Payment Award Converted Awards Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardConvertedAwardsFairValue
66500000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
834940000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
660462000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
289000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
408000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
13000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
369000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
835242000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
229182000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
146461000 usd
CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
21582000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2024Q1 o Increase Decrease In Fair Value Of Derivatives Net
IncreaseDecreaseInFairValueOfDerivativesNet
45133000 usd
CY2023Q1 o Increase Decrease In Fair Value Of Derivatives Net
IncreaseDecreaseInFairValueOfDerivativesNet
-58667000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
680159000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
164576000 usd
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
6401000 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
50009000 usd
CY2024Q1 us-gaap Escrow Deposit
EscrowDeposit
10226000 usd
CY2023Q1 us-gaap Escrow Deposit
EscrowDeposit
29180000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
696786000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
243765000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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o-20240331_cal.xml Edgar Link unprocessable
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0000726728-24-000077-index.html Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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