v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Real estate:    
Buildings and improvements $ 16,211,931 $ 16,115,283
Development costs and construction in progress 1,027,119 880,393
Land and improvements 2,930,060 2,918,758
Accumulated depreciation and amortization (4,349,056) (4,083,030)
Net real estate 15,820,054 15,831,404
Loans receivable, net of reserves of $11,331 and $10,499 716,529 717,190
Investments in and advances to unconsolidated joint ventures 963,379 936,814
Accounts receivable, net of allowance of $1,932 and $2,243 68,741 76,810
Cash and cash equivalents 89,436 119,818
Restricted cash 73,843 64,487
Intangible assets, net 677,101 817,254
Assets held for sale, net 45,717 7,840
Right-of-use asset, net 426,631 424,173
Other assets, net 928,836 942,465
Total assets 19,810,267 19,938,255
LIABILITIES AND EQUITY    
Bank line of credit and commercial paper 775,000 150,000
Term loans 1,646,605 1,646,043
Senior unsecured notes 6,268,532 6,563,256
Mortgage debt 351,116 356,750
Intangible liabilities, net 166,352 191,884
Liabilities related to assets held for sale, net 1,209 0
Lease liability 310,099 307,220
Accounts payable, accrued liabilities, and other liabilities 738,613 725,342
Deferred revenue 965,800 940,136
Total liabilities 11,223,326 10,880,631
Commitments and contingencies (Note 11)
Redeemable noncontrolling interests 20,104 2,610
Common stock, $1.00 par value: 1,500,000,000 shares authorized; 694,916,081 and 699,485,139 shares issued and outstanding 694,916 699,485
Additional paid-in capital 12,763,723 12,847,252
Cumulative dividends in excess of earnings (5,525,520) (5,174,279)
Accumulated other comprehensive income (loss) (5,019) 28,818
Total stockholders’ equity 7,928,100 8,401,276
Joint venture partners 298,597 315,821
Non-managing member unitholders 340,140 337,917
Total noncontrolling interests 638,737 653,738
Total equity 8,566,837 9,055,014
Total liabilities and equity $ 19,810,267 $ 19,938,255