XML 12 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Rental income $ 218,155 $ 204,856 $ 649,120 $ 610,912
Interest and other income from real estate transactions 409 276 1,664 968
Total revenues 218,564 205,132 650,784 611,880
Operating expenses:        
General and administrative 11,209 10,225 35,582 33,216
Real estate 7,263 6,459 21,175 20,141
Depreciation and amortization 63,369 59,523 186,487 178,546
Leasing transaction costs 22 96 75 223
Impairment losses – real estate, net of recoveries 760 1,001 2,908 3,675
Executive retirement costs 156 153 626 885
Total operating expenses 82,779 77,457 246,853 236,686
Gain on disposition of real estate 7,765 19,992 30,207 40,222
Earnings from operations 143,550 147,667 434,138 415,416
Other expenses (revenues):        
Interest and other income (845) (644) (1,940) (751)
Interest expense 46,491 41,524 137,137 120,509
Total other expenses (revenues) 45,646 40,880 135,197 119,758
Net earnings $ 97,904 $ 106,787 $ 298,941 $ 295,658
Net earnings per share        
Basic (in dollars per share) $ 0.53 $ 0.59 $ 1.63 $ 1.63
Diluted (in dollars per share) $ 0.53 $ 0.59 $ 1.63 $ 1.63
Weighted average shares outstanding:        
Basic (in shares) 184,007,176 181,398,273 182,757,097 181,120,963
Diluted (in shares) 184,561,431 181,721,467 183,301,570 181,460,622
Other comprehensive income:        
Net earnings $ 97,904 $ 106,787 $ 298,941 $ 295,658
Amortization of interest rate hedges 450 620 1,692 1,843
Total comprehensive income $ 98,354 $ 107,407 $ 300,633 $ 297,501