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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Property, buildings and equipment:    
Land and buildings and improvements, gross value $ 6,526,980 $ 6,148,812
Accumulated depreciation (1,563,868) (1,382,298)
Property, buildings and equipment – net 4,963,112 4,766,514
Operating lease right-of-use assets 385,341 291,797
Accumulated depreciation – operating leases (48,978) (24,483)
Operating leases – net 336,363 267,314
Financing leases:    
Financing leases - gross 162,274 169,929
Accumulated depreciation – financing leases (56,686) (40,937)
Financing leases – net 105,588 128,992
Cash, cash equivalents and restricted cash 152,770 621,051
Accounts receivable – net of allowance of $17,017 and $12,286 at September 30, 2021 and December 31, 2020, respectively 368,179 324,221
Identifiable intangible assets – net 1,011,102 797,423
Goodwill 1,039,850 794,335
Investments in partially owned entities 38,571 44,907
Other assets 112,019 86,394
Total assets 8,127,554 7,831,151
Liabilities:    
Borrowings under revolving line of credit 305,664 0
Accounts payable and accrued expenses 577,721 552,547
Mortgage notes, senior unsecured notes and term loans – net of unamortized deferred financing costs of $11,446 and $15,952, in the aggregate, at September 30, 2021 and December 31, 2020, respectively 2,400,593 2,648,266
Sale-leaseback financing obligations 182,979 185,060
Financing lease obligations 98,135 125,926
Operating lease obligations 316,457 269,147
Unearned revenue 22,114 19,209
Pension and postretirement benefits 7,247 9,145
Deferred tax liability – net 193,194 220,502
Multi-employer pension plan withdrawal liability 8,267 8,528
Total liabilities 4,112,371 4,038,330
Commitments and Contingencies
Shareholders’ equity:    
Common shares of beneficial interest, $0.01 par value – 500,000,000 and 325,000,000 authorized shares; 266,769,008 and 251,702,603 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively 2,668 2,517
Paid-in capital 5,110,432 4,687,823
Accumulated deficit and distributions in excess of net earnings (1,090,595) (895,521)
Accumulated other comprehensive loss (13,477) (4,379)
Total shareholders’ equity 4,009,028 3,790,440
Noncontrolling interests:    
Noncontrolling interests in operating partnership and consolidated joint venture 6,155 2,381
Total equity 4,015,183 3,792,821
Total liabilities and equity 8,127,554 7,831,151
Land    
Property, buildings and equipment:    
Land and buildings and improvements, gross value 769,720 662,885
Buildings and improvements    
Property, buildings and equipment:    
Land and buildings and improvements, gross value 4,057,597 4,004,824
Financing leases:    
Financing leases - gross 13,550 60,513
Machinery and equipment    
Property, buildings and equipment:    
Land and buildings and improvements, gross value 1,297,087 1,177,572
Financing leases:    
Financing leases - gross 148,724 109,416
Assets under construction    
Property, buildings and equipment:    
Land and buildings and improvements, gross value $ 402,576 $ 303,531