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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, 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) 89,265 74,501     74,501   14,764
Other comprehensive income (loss) (33,837) (33,837)       (33,837)  
Issuance of common stock, net (in shares)     497        
Issuance of common stock, net 553 553 $ 497 56      
Conversion of non-managing member units to common stock (in shares)     164        
Conversion of non-managing member units to common stock 0 3,940 $ 164 3,776     (3,940)
Repurchase of common stock (in shares)     (5,230)        
Repurchase of common stock (97,041) (97,041) $ (5,230) (91,811)      
Stock-based compensation 9,486 3,322   3,322     6,164
Common dividends (425,742) (425,742)     (425,742)    
Distributions to noncontrolling interests (18,984)           (18,984)
Adjustments to redeemable noncontrolling interests (11,877) 1,128   1,128     (13,005)
Ending balance (in shares) at Jun. 30, 2025     694,916        
Ending balance at Jun. 30, 2025 8,566,837 7,928,100 $ 694,916 12,763,723 (5,525,520) (5,019) 638,737
Beginning balance at Dec. 31, 2024 2,610            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) (182)            
Distributions to noncontrolling interests (171)            
Contributions from noncontrolling interests 5,970            
Adjustments to redeemable noncontrolling interests 11,877            
Ending balance at Jun. 30, 2025 20,104            
Beginning balance (in shares) at Mar. 31, 2025     698,612        
Beginning balance at Mar. 31, 2025 8,828,992 8,188,047 $ 698,612 12,827,628 (5,345,120) 6,927 640,945
Increase (Decrease) in Stockholders' Equity              
Net income (loss) 39,145 31,673     31,673   7,472
Other comprehensive income (loss) (11,946) (11,946)       (11,946)  
Issuance of common stock, net (in shares)     126        
Issuance of common stock, net 299 299 $ 126 173      
Conversion of non-managing member units to common stock (in shares)     130        
Conversion of non-managing member units to common stock 0 3,061 $ 130 2,931     (3,061)
Repurchase of common stock (in shares)     (3,952)        
Repurchase of common stock (72,082) (72,082) $ (3,952) (68,130)      
Stock-based compensation 3,300 1,121   1,121     2,179
Common dividends (212,073) (212,073)     (212,073)    
Distributions to noncontrolling interests (8,798)           (8,798)
Ending balance (in shares) at Jun. 30, 2025     694,916        
Ending balance at Jun. 30, 2025 8,566,837 7,928,100 $ 694,916 12,763,723 (5,525,520) (5,019) 638,737
Beginning balance at Mar. 31, 2025 14,417            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) (126)            
Distributions to noncontrolling interests (157)            
Contributions from noncontrolling interests 5,970            
Ending balance at Jun. 30, 2025 20,104            
Beginning balance (in shares) at Dec. 31, 2025     695,037        
Beginning balance at Dec. 31, 2025 8,142,870 7,500,094 $ 695,037 12,767,914 (5,952,920) (9,937) 642,776
Increase (Decrease) in Stockholders' Equity              
Net income (loss) 263,233 246,451     246,451   16,782
Other comprehensive income (loss) 20,471 20,471       20,471  
Issuance of common stock, net (in shares)     390        
Issuance of common stock, net 1,143 1,143 $ 390 753      
Conversion of non-managing member units to common stock (in shares)     71        
Conversion of non-managing member units to common stock 0 1,781 $ 71 1,710     (1,781)
Repurchase of common stock (in shares)     (6,033)        
Repurchase of common stock (101,561) (101,561) $ (6,033) (95,528)      
Stock-based compensation 16,275 3,995   3,995     12,280
Common dividends (422,660) (422,660)     (422,660)    
Distributions to noncontrolling interests (31,826)           (31,826)
Issuance of noncontrolling interests 1,582,800           1,582,800
Reallocation of noncontrolling interests   595,036   595,036     (595,036)
Ending balance (in shares) at Jun. 30, 2026     689,465        
Ending balance at Jun. 30, 2026 9,470,745 7,844,750 $ 689,465 13,273,880 (6,129,129) 10,534 1,625,995
Beginning balance at Dec. 31, 2025 159,581            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) (336)            
Distributions to noncontrolling interests (342)            
Contributions from noncontrolling interests 760            
Redemption of noncontrolling interest (131,968)            
Ending balance at Jun. 30, 2026 27,695            
Beginning balance (in shares) at Mar. 31, 2026     695,263        
Beginning balance at Mar. 31, 2026 9,032,799 7,826,288 $ 695,263 13,102,990 (5,971,501) (464) 1,206,511
Increase (Decrease) in Stockholders' Equity              
Net income (loss) 63,375 52,818     52,818   10,557
Other comprehensive income (loss) 10,998 10,998       10,998  
Issuance of common stock, net (in shares)     148        
Issuance of common stock, net 826 826 $ 148 678      
Conversion of non-managing member units to common stock (in shares)     5        
Conversion of non-managing member units to common stock 0 147 $ 5 142     (147)
Repurchase of common stock (in shares)     (5,951)        
Repurchase of common stock (100,187) (100,187) $ (5,951) (94,236)      
Stock-based compensation 5,797 1,753   1,753     4,044
Common dividends (210,446) (210,446)     (210,446)    
Distributions to noncontrolling interests (22,242)           (22,242)
Issuance of noncontrolling interests 689,825           689,825
Reallocation of noncontrolling interests 0 262,553   262,553     (262,553)
Ending balance (in shares) at Jun. 30, 2026     689,465        
Ending balance at Jun. 30, 2026 9,470,745 $ 7,844,750 $ 689,465 $ 13,273,880 $ (6,129,129) $ 10,534 $ 1,625,995
Beginning balance at Mar. 31, 2026 27,214            
Increase (Decrease) in Redeemable Noncontrolling Interests              
Net income (loss) (134)            
Distributions to noncontrolling interests (145)            
Contributions from noncontrolling interests 760            
Ending balance at Jun. 30, 2026 $ 27,695