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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Real estate:    
Buildings and improvements $ 12,784,078 $ 12,025,271
Development costs and construction in progress 760,355 877,423
Land 2,667,188 2,603,964
Accumulated depreciation and amortization (3,188,138) (2,839,229)
Net real estate 13,023,483 12,667,429
Net investment in direct financing leases 0 44,706
Loans receivable, net of reserves of $8,280 and $1,813 374,832 415,811
Investments in and advances to unconsolidated joint ventures 706,677 403,634
Accounts receivable, net of allowance of $2,399 and $1,870 53,436 48,691
Cash and cash equivalents 72,032 158,287
Restricted cash 54,802 53,454
Intangible assets, net 418,061 519,760
Assets held for sale and discontinued operations, net 49,866 37,190
Right-of-use asset, net 237,318 233,942
Other assets, net 780,722 674,615
Total assets 15,771,229 15,257,519
LIABILITIES AND EQUITY    
Bank line of credit and commercial paper 995,606 1,165,975
Term loans 495,957 0
Senior unsecured notes 4,659,451 4,651,933
Mortgage debt 346,599 352,081
Intangible liabilities, net 156,193 177,232
Liabilities related to assets held for sale and discontinued operations, net 4,070 15,056
Lease liability 208,515 204,547
Accounts payable, accrued liabilities, and other liabilities 772,485 755,384
Deferred revenue 844,076 789,207
Total liabilities 8,482,952 8,111,415
Commitments and contingencies (Note 12)
Redeemable noncontrolling interests 105,679 87,344
Common stock, $1.00 par value: 750,000,000 shares authorized; 546,641,973 and 539,096,879 shares issued and outstanding 546,642 539,097
Additional paid-in capital 10,349,614 10,100,294
Cumulative dividends in excess of earnings (4,269,689) (4,120,774)
Accumulated other comprehensive income (loss) 28,134 (3,147)
Total stockholders’ equity 6,654,701 6,515,470
Joint venture partners 327,721 342,234
Non-managing member unitholders 200,176 201,056
Total noncontrolling interests 527,897 543,290
Total equity 7,182,598 7,058,760
Total liabilities and equity $ 15,771,229 $ 15,257,519