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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE        
Rental (including reimbursements) $ 1,338,188 $ 1,284,728 $ 2,651,245 $ 2,492,897
Other 72,190 54,715 139,638 107,031
Total revenue 1,410,378 1,339,443 2,790,883 2,599,928
EXPENSES        
Depreciation and amortization 647,849 605,570 1,256,784 1,186,634
Interest 283,824 246,931 552,198 487,545
Property (including reimbursements) 107,422 99,851 214,103 189,212
General and administrative 49,329 45,070 93,373 85,912
Provisions for impairment 143,363 96,458 259,952 185,947
Merger, transaction, and other costs, net 331 2,754 610 96,858
Total expenses 1,232,118 1,096,634 2,377,020 2,232,108
Gain on sales of real estate 38,566 25,153 61,103 41,727
Foreign currency and derivative (loss) gain, net (4,388) 511 (6,933) 4,557
Equity in earnings of unconsolidated entities 3,269 2,029 7,626 353
Other income, net 7,369 6,108 14,536 11,554
Income before income taxes 223,076 276,610 490,195 426,011
Income taxes (24,065) (15,642) (39,722) (31,144)
Net income 199,011 260,968 450,473 394,867
Net income attributable to noncontrolling interests (2,092) (1,577) (3,739) (3,192)
Net income attributable to the Company 196,919 259,391 446,734 391,675
Preferred stock dividends 0 (2,587) 0 (5,175)
Net income available to common stockholders $ 196,919 $ 256,804 $ 446,734 $ 386,500
Amounts available to common stockholders per common share:        
Basic (in dollars per share) $ 0.22 $ 0.30 $ 0.50 $ 0.45
Diluted (in dollars per share) $ 0.22 $ 0.29 $ 0.50 $ 0.45
Weighted average common shares outstanding:        
Basic (in shares) 902,966 870,319 897,338 852,621
Diluted (in shares) 903,716 870,725 898,115 853,011
Other comprehensive income:        
Foreign currency translation adjustment $ 54,425 $ 3,218 $ 99,640 $ (14,818)
Unrealized (loss) gain on derivatives, net (31,464) 7,324 (42,089) 16,246
Total other comprehensive income 22,961 10,542 57,551 1,428
Comprehensive income available to common stockholders $ 219,880 $ 267,346 $ 504,285 $ 387,928