Receivables

3 Months Ended

Mar. 31, 2025

Receivables

Receivables

4. Receivables

Accounts and Other Receivables, Net

Accounts and Other Receivables, net is primarily comprised of contractual rents and other lease-related obligations currently due from customers. These amounts (net of an allowance for estimated uncollectible amounts) are shown in the subsequent table as Accounts receivable – trade, net. The other receivables shown separately from Accounts receivable – trade, net consist primarily of value-added tax receivables, various management fees for functions provided to managed joint ventures, as well as amounts that have not yet been billed to customers, such as for utility reimbursements and installation fees.

	Balance as of		Balance as of
(Amounts in thousands):	March 31, 2025		December 31, 2024
Accounts receivable – trade	$	664,161	$	629,250
Allowance for doubtful accounts		(62,803)		(59,224)
Accounts receivable – trade, net		601,358		570,026
Accounts receivable – customer recoveries		191,573		178,827
Value-added tax receivables		166,886		160,369
Accounts receivable – installation fees		169,804		157,409
Other receivables		243,900		190,833
Accounts and other receivables, net	$	1,373,521	$	1,257,464

Deferred Rent, Net

Deferred rent, net represents rental income that has been recognized as revenue under ASC 842, but which is not yet due from customers under their existing rental agreements. The Company recognizes an allowance against deferred rent receivables to the extent it becomes no longer probable that a customer or group of customers will be able to make substantially all of their required cash rental payments over the entirety of their respective lease terms.

	Balance as of		Balance as of
(Amounts in thousands):	March 31, 2025		December 31, 2024
Deferred rent receivables	$	643,081	$	644,566
Allowance for deferred rent receivables		(1,791)		(2,110)
Deferred rent, net	$	641,290	$	642,456