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CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - USD ($)
shares in Thousands, $ in Thousands
Total
Total Stockholders’ Equity
Common Stock
Additional Paid-In Capital
Cumulative Dividends In Excess Of Earnings
Accumulated Other Comprehensive Income (Loss)
Total Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2023     547,156        
Beginning balance at Dec. 31, 2023 $ 6,876,042 $ 6,350,446 $ 547,156 $ 10,405,780 $ (4,621,861) $ 19,371 $ 525,596
Increase (Decrease) in Stockholders' Equity              
Net income (loss) 256,538 238,595     238,595   17,943
Other comprehensive income (loss) (31,752) (31,752)       (31,752)  
Shares issued as part of the Merger (in shares)     162,231        
Shares issued as part of the Merger 2,774,147 2,774,147 $ 162,231 2,611,916      
Issuance of common stock, net (in shares)     387        
Issuance of common stock, net 831 831 $ 387 444      
Conversion of non-managing member units to common stock (in shares)     208        
Conversion of non-managing member units to common stock 0 4,358 $ 208 4,150     (4,358)
Repurchase of common stock (in shares)     (10,577)        
Repurchase of common stock (190,364) (190,364) $ (10,577) (179,787)      
Stock-based compensation 15,286 6,243   6,243     9,043
Common dividends (585,553) (585,553)     (585,553)    
Distributions to noncontrolling interests (27,105)           (27,105)
Noncontrolling interests acquired as part of the Merger 136,727           136,727
Adjustments to redeemable noncontrolling interests (4,112) (4,112)   (4,112)      
Ending balance (in shares) at Sep. 30, 2024     699,405        
Ending balance at Sep. 30, 2024 9,220,685 8,562,839 $ 699,405 12,844,634 (4,968,819) (12,381) 657,846
Beginning balance at Dec. 31, 2023 48,828            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) 93            
Distributions to noncontrolling interests (377)            
Contributions from noncontrolling interests 12            
Purchase of noncontrolling interests (52,886)            
Noncontrolling interests acquired as part of the Merger 1,536            
Adjustments to redeemable noncontrolling interests 4,112            
Ending balance at Sep. 30, 2024 1,318            
Beginning balance (in shares) at Jun. 30, 2024     700,317        
Beginning balance at Jun. 30, 2024 9,417,338 8,757,498 $ 700,317 12,859,567 (4,844,683) 42,297 659,840
Increase (Decrease) in Stockholders' Equity              
Net income (loss) 92,788 85,872     85,872   6,916
Other comprehensive income (loss) (54,678) (54,678)       (54,678)  
Issuance of common stock, net (in shares)     12        
Issuance of common stock, net 255 255 $ 12 243      
Conversion of non-managing member units to common stock (in shares)     112        
Conversion of non-managing member units to common stock 0 1,986 $ 112 1,874     (1,986)
Repurchase of common stock (in shares)     (1,036)        
Repurchase of common stock (20,135) (20,135) $ (1,036) (19,099)      
Stock-based compensation 4,777 2,049   2,049     2,728
Common dividends (210,008) (210,008)     (210,008)    
Distributions to noncontrolling interests (9,652)           (9,652)
Ending balance (in shares) at Sep. 30, 2024     699,405        
Ending balance at Sep. 30, 2024 9,220,685 8,562,839 $ 699,405 12,844,634 (4,968,819) (12,381) 657,846
Beginning balance at Jun. 30, 2024 1,433            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) (50)            
Distributions to noncontrolling interests (65)            
Ending balance at Sep. 30, 2024 1,318            
Beginning balance (in shares) at Dec. 31, 2024     699,485        
Beginning balance at Dec. 31, 2024 9,055,014 8,401,276 $ 699,485 12,847,252 (5,174,279) 28,818 653,738
Increase (Decrease) in Stockholders' Equity              
Net income (loss) (20,476) (42,621)     (42,621)   22,145
Other comprehensive income (loss) (36,793) (36,793)       (36,793)  
Issuance of common stock, net (in shares)     521        
Issuance of common stock, net 936 936 $ 521 415      
Conversion of non-managing member units to common stock (in shares)     171        
Conversion of non-managing member units to common stock 0 4,138 $ 171 3,967     (4,138)
Repurchase of common stock (in shares)     (5,231)        
Repurchase of common stock (97,058) (97,058) $ (5,231) (91,827)      
Stock-based compensation 14,922 4,958   4,958     9,964
Common dividends (637,866) (637,866)     (637,866)    
Distributions to noncontrolling interests (28,484)           (28,484)
Adjustments to redeemable noncontrolling interests (12,700) 305   305     (13,005)
Ending balance (in shares) at Sep. 30, 2025     694,946        
Ending balance at Sep. 30, 2025 8,237,495 7,597,275 $ 694,946 12,765,070 (5,854,766) (7,975) 640,220
Beginning balance at Dec. 31, 2024 2,610            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) (289)            
Distributions to noncontrolling interests (336)            
Contributions from noncontrolling interests 13,124            
Adjustments to redeemable noncontrolling interests 12,700            
Ending balance at Sep. 30, 2025 27,809            
Beginning balance (in shares) at Jun. 30, 2025     694,916        
Beginning balance at Jun. 30, 2025 8,566,837 7,928,100 $ 694,916 12,763,723 (5,525,520) (5,019) 638,737
Increase (Decrease) in Stockholders' Equity              
Net income (loss) (109,741) (117,122)     (117,122)   7,381
Other comprehensive income (loss) (2,956) (2,956)       (2,956)  
Issuance of common stock, net (in shares)     24        
Issuance of common stock, net 383 383 $ 24 359      
Conversion of non-managing member units to common stock (in shares)     7        
Conversion of non-managing member units to common stock 0 198 $ 7 191     (198)
Repurchase of common stock (in shares)     (1)        
Repurchase of common stock (17) (17) $ (1) (16)      
Stock-based compensation 5,436 1,636   1,636     3,800
Common dividends (212,124) (212,124)     (212,124)    
Distributions to noncontrolling interests (9,500)           (9,500)
Adjustments to redeemable noncontrolling interests (823) (823)   (823)      
Ending balance (in shares) at Sep. 30, 2025     694,946        
Ending balance at Sep. 30, 2025 8,237,495 $ 7,597,275 $ 694,946 $ 12,765,070 $ (5,854,766) $ (7,975) $ 640,220
Beginning balance at Jun. 30, 2025 20,104            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) (107)            
Distributions to noncontrolling interests (165)            
Contributions from noncontrolling interests 7,154            
Adjustments to redeemable noncontrolling interests 823            
Ending balance at Sep. 30, 2025 $ 27,809