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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE        
Rental (including reimbursable) $ 1,271,153 $ 1,008,862 $ 3,764,050 $ 2,929,440
Other 59,762 30,242 166,793 73,268
Total revenue 1,330,915 1,039,104 3,930,843 3,002,708
EXPENSES        
Depreciation and amortization 602,339 495,566 1,788,973 1,419,321
Interest 261,261 184,121 748,806 522,110
Property (including reimbursable) 92,154 70,981 281,366 235,081
General and administrative 41,869 35,525 127,781 106,521
Provisions for impairment 96,920 16,808 282,867 59,801
Merger, transaction, and other costs 8,610 2,884 105,468 4,532
Total expenses 1,103,153 805,885 3,335,261 2,347,366
Gain on sales of real estate 50,563 7,572 92,290 19,675
Foreign currency and derivative (loss) gain, net (1,672) (2,813) 2,885 4,957
Equity in earnings of unconsolidated entities 5,087 0 5,440 411
Other income, net 4,739 7,235 16,293 12,985
Income before income taxes 286,479 245,213 712,490 693,370
Income taxes (15,355) (11,336) (46,499) (36,218)
Net income 271,124 233,877 665,991 657,152
Net income attributable to noncontrolling interests (1,639) (404) (4,831) (3,248)
Net income attributable to the Company 269,485 233,473 661,160 653,904
Preferred stock dividends (2,588) 0 (7,763) 0
Excess of redemption value over carrying value of preferred shares redeemed (5,116) 0 (5,116) 0
Net income available to common stockholders $ 261,781 $ 233,473 $ 648,281 $ 653,904
Amounts available to common stockholders per common share:        
Net income, basic (in dollars per share) $ 0.30 $ 0.33 $ 0.75 $ 0.96
Net income, diluted (in dollars per share) $ 0.30 $ 0.33 $ 0.75 $ 0.96
Weighted average common shares outstanding:        
Basic (in shares) 870,665 709,165 858,679 681,419
Diluted (in shares) 872,052 709,543 859,462 682,129
Total other comprehensive income (loss)        
Foreign currency translation adjustment $ 74,615 $ (61,401) $ 59,797 $ (3,605)
Unrealized (loss) gain on derivatives, net (46,474) 7,193 (30,228) (1,379)
Total other comprehensive income (loss) 28,141 (54,208) 29,569 (4,984)
Comprehensive income available to common stockholders $ 289,922 $ 179,265 $ 677,850 $ 648,920