CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2025	Jun. 30, 2024
Operating activities:
Net income		$ 561,884	$ 392,304
Adjustments to reconcile net income to net cash provided from (used in) operating activities:
Depreciation and amortization		980,905	747,908
Other amortization expenses		27,888	28,106
Provision for loan losses, net		(3,120)	6,177
Impairment of assets		72,278	45,725
Stock-based compensation expense		32,762	22,398
Loss (gain) on derivatives and financial instruments, net		(3,619)	(8,879)
Loss (gain) on extinguishment of debt, net		6,156	1,711
Loss (income) from unconsolidated entities		6,129	2,887
Rental income less than (in excess of) cash received		(92,647)	13,696
Amortization related to above (below) market leases, net		(809)	14
Loss (gain) on real estate dispositions and acquisitions of controlling interests, net		(66,627)	(171,150)
Proceeds from (payments on) interest rate swap settlements		0	(59,555)
Distributions by unconsolidated entities		12,020	10,018
Increase (decrease) in accrued expenses and other liabilities		(89,081)	53,105
Decrease (increase) in receivables and other assets		(75,127)	(72,240)
Net cash provided from (used in) operating activities		1,368,992	1,012,225
Investing activities:
Cash disbursed for acquisitions, net of cash acquired		(2,936,818)	(607,527)
Cash disbursed for capital improvements to existing properties		(473,229)	(297,602)
Cash disbursed for construction in progress		(238,561)	(459,122)
Capitalized interest		(20,173)	(28,287)
Investment in loans receivable		(40,244)	(580,145)
Principal collected on loans receivable		162,039	138,059
Other investments, net of payments		(65,227)	(37,185)
Contributions to unconsolidated entities		(262,430)	(146,196)
Distributions by unconsolidated entities		38,760	21,859
Net proceeds from net investment hedge settlements		(2,199)	6,631
Proceeds from sales of real property		410,809	129,773
Net cash provided from (used in) investing activities		(3,427,273)	(1,859,742)
Financing activities:
Net increase (decrease) under unsecured credit facility and commercial paper		0	0
Net proceeds from issuance of senior unsecured notes		1,359,325	0
Payments to extinguish senior unsecured notes		(1,250,000)	(1,350,000)
Net proceeds from the issuance of secured debt		0	2,872
Payments on secured debt		(317,456)	(233,799)
Net proceeds from the issuance of common stock		3,967,421	4,020,345
Payments for deferred financing costs and prepayment penalties		(762)	(6)
Contributions by noncontrolling interests	[1]	9,137	26,569
Distributions to noncontrolling interests	[1]	(158,011)	(85,803)
Cash distributions to stockholders		(871,423)	(718,278)
Other financing activities		(11,570)	(24,215)
Net cash provided from (used in) financing activities		2,726,661	1,637,685
Effect of foreign currency translation on cash and cash equivalents and restricted cash		143,674	(2,653)
Increase (decrease) in cash, cash equivalents and restricted cash		812,054	787,515
Cash, cash equivalents and restricted cash at beginning of period		3,711,457	2,076,083
Cash, cash equivalents and restricted cash at end of period		4,523,511	2,863,598
Supplemental cash flow information:
Interest paid		252,008	280,277
Income taxes paid (received), net		$ 18,877	$ 9,125

[1] (1) Includes amounts attributable to redeemable noncontrolling interests.