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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUE    
Rental (including reimbursements) $ 1,440,817 $ 1,313,057
Interest income on financing receivables 32,130 32,635
Interest and dividend income on loans and preferred equity investments 70,110 34,736
Other 5,670 77
Total revenue 1,548,727 1,380,505
EXPENSES    
Depreciation and amortization 630,275 608,935
Interest 291,940 268,374
Property (including reimbursements) 116,843 106,681
General and administrative 58,885 44,044
Provisions for impairment 129,268 116,589
Merger, transaction, and other costs, net 10,787 279
Total expenses 1,237,998 1,144,902
Gain on sales of real estate 35,642 22,537
Foreign currency and derivative loss, net (17,020) (2,545)
Equity in earnings of unconsolidated entities 2,669 4,357
Other income, net 15,110 7,167
Income before income taxes 347,130 267,119
Income taxes (26,195) (15,657)
Net income 320,935 251,462
Net income attributable to noncontrolling interests (9,169) (1,647)
Net income available to common stockholders $ 311,766 $ 249,815
Amounts available to common stockholders per common share:    
Net income, basic (in dollars per share) $ 0.33 $ 0.28
Net income, diluted (in dollars per share) $ 0.33 $ 0.28
Weighted average common shares outstanding:    
Basic (in shares) 931,977 891,666
Diluted (in shares) 934,446 892,351
Comprehensive income:    
Net income available to common stockholders $ 311,766 $ 249,815
Other comprehensive income:    
Foreign currency translation adjustment (16,117) 45,215
Unrealized gain (loss) on derivatives, net 48,332 (10,625)
Total other comprehensive income 32,215 34,590
Comprehensive income available to common stockholders $ 343,981 $ 284,405