Other Assets and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Text Block [Abstract]

Schedule of Other Assets and Liabilities

The following table summarizes our other assets and liabilities, net of amortization and depreciation, if applicable, at December 31 (in thousands):

	2024		2023
Rent leveling	$	1,218,483	$	914,480
Leasing commissions		860,556		749,773
Acquired lease intangibles, net of $1.6 billion and $1.4 billion of accumulated amortization		764,546		1,010,615
Lease right-of-use assets (1)		707,814		683,707
Accounts receivable		407,464		325,698
Prepaid assets		231,299		248,597
Fixed assets		212,318		208,030
Value added taxes receivable		142,420		155,909
Derivative assets		137,429		87,319
Other notes receivable		74,594		72,730
Management contracts		10,666		10,702
Deferred income taxes		3,257		1,231
Other		423,496		280,944
Total other assets	$	5,194,342	$	4,749,735
Acquired lease intangibles, net of $1.1 billion and $720.1 million of accumulated amortization	$	1,778,832	$	2,206,906
Lease liabilities (1)		615,305		597,563
Tenant security deposits		403,707		438,100
Unearned rents		400,538		319,946
Environmental liabilities		176,154		178,201
Deferred income taxes		141,126		118,682
Deferred revenue and fees		74,754		57,116
Value added taxes payable		29,636		33,805
Liabilities associated with assets held for sale or contribution		1,951		14,182
Derivative liabilities		638		94,161
Other		440,908		371,939
Total other liabilities	$	4,063,549	$	4,430,601

(1)For the amortization of the future minimum rental payments into rental expense and G&A expense on our land and office leases, respectively, refer to Note 4.

Schedule Of Future Amortized Expense And Benefit Charge To Rental Revenue Table Text Block

The following table summarizes the expected future amortization of leasing commissions and forgone rent (included in acquired lease intangibles above) into amortization expense and above and below market leases (included in acquired lease intangibles above) and rent leveling net assets into rental revenues, all based on the balances at December 31, 2024 (in thousands):

	Amortization Expense		Net Increase (Decrease)  to Rental Revenues
2025	$	360,031	$	458,681
2026		298,640		227,003
2027		239,106		117,305
2028		183,023		36,431
2029		134,339		4,207
Thereafter		347,445		(345,796	)
Total	$	1,562,584	$	497,831