Supplemental Disclosures of Cash Flow Information

6 Months Ended

Jun. 30, 2026

The following table summarizes our supplemental cash flow information during the periods indicated below (in

thousands):


	Six months ended June 30,
	2026	2025
Supplemental disclosures:
Cash paid for interest	$487,558	$451,436
Cash paid for income taxes	$58,661	$60,367
Non-cash activities:
Net increase (decrease) in fair value of derivatives	$107,700	$(143,010)
Payment-in-kind interest expense on Term Loans	$9,094	$—
Payment-in-kind interest and dividend income on loans and preferred equity investments	$(15,585)	$—

The following table provides a reconciliation of 'Cash and cash equivalents' reported on our consolidated balance

sheets to the total of the cash, cash equivalents, and restricted cash reported within our consolidated statements of

cash flows (in thousands):


	June 30, 2026	June 30, 2025
Cash and cash equivalents shown in the consolidated balance sheets	$552,648	$800,447
Restricted escrow deposits (1)	58,594	22,219
Impounds related to mortgages payable (1)	4,120	19,070
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$615,362	$841,736

(1) Included within 'Other assets, net' on our consolidated balance sheets (see note 2, Supplemental Detail for Certain Components of

Consolidated Balance Sheets). These amounts consist of cash that we are legally entitled to, but that is not immediately available to us. As a

result, these amounts were considered restricted as of the dates presented.