CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2025	Sep. 30, 2024
Operating activities:
Net income		$ 844,070	$ 849,104
Adjustments to reconcile net income to net cash provided from (used in) operating activities:
Depreciation and amortization		1,490,717	1,151,687
Other amortization expenses		42,161	43,165
Provision for loan losses, net		(2,032)	10,370
Impairment of assets		75,359	69,146
Stock-based compensation expense		48,348	62,308
Loss (gain) on derivatives and financial instruments, net		28,063	(18,785)
Loss (gain) on extinguishment of debt, net		6,156	2,130
Loss (income) from unconsolidated entities		18,739	6,925
Rental income less than (in excess of) cash received		(147,948)	(31,805)
Amortization related to above (below) market leases, net		(1,228)	166
Loss (gain) on real estate dispositions and acquisitions of controlling interests, net		(70,652)	(443,416)
Proceeds from (payments on) interest rate swap settlements		0	(59,555)
Distributions by unconsolidated entities		18,539	12,845
Increase (decrease) in accrued expenses and other liabilities		20,931	135,926
Decrease (increase) in receivables and other assets		(143,875)	(93,002)
Net cash provided from (used in) operating activities		2,227,348	1,697,209
Investing activities:
Cash disbursed for acquisitions, net of cash acquired		(4,040,936)	(1,669,106)
Cash disbursed for capital improvements to existing properties		(736,288)	(538,752)
Cash disbursed for construction in progress		(333,981)	(632,511)
Capitalized interest		(26,323)	(43,955)
Investment in loans receivable		(436,629)	(603,619)
Principal collected on loans receivable		208,136	250,791
Other investments, net of payments		(89,146)	(49,271)
Contributions to unconsolidated entities		(302,363)	(218,974)
Distributions by unconsolidated entities		180,064	39,693
Net proceeds from net investment hedge settlements		(2,199)	10,712
Proceeds from sales of real property		522,087	145,774
Net cash provided from (used in) investing activities		(5,057,578)	(3,309,218)
Financing activities:
Net increase (decrease) under unsecured credit facility and commercial paper		0	0
Net proceeds from issuance of senior unsecured notes		2,354,157	1,015,063
Payments to extinguish senior unsecured notes		(1,299,575)	(1,350,000)
Net proceeds from the issuance of secured debt		0	3,708
Payments on secured debt		(336,201)	(356,216)
Net proceeds from the issuance of common stock		6,837,518	5,262,364
Payments for deferred financing costs and prepayment penalties		(586)	(23,460)
Contributions by noncontrolling interests	[1]	10,493	29,009
Distributions to noncontrolling interests	[1]	(217,704)	(104,268)
Cash distributions to stockholders		(1,368,341)	(1,127,046)
Other financing activities		(12,605)	(33,867)
Net cash provided from (used in) financing activities		5,967,156	3,315,287
Effect of foreign currency translation on cash and cash equivalents and restricted cash		92,190	5,047
Increase (decrease) in cash, cash equivalents and restricted cash		3,229,116	1,708,325
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		6,940,573	3,784,408
Supplemental cash flow information:
Interest paid		373,339	390,649
Income taxes paid (received), net		$ 22,333	$ 8,383

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