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) |
163,750
|
152,723
|
|
|
152,723
|
|
11,027
|
| Other comprehensive income (loss) |
22,926
|
22,926
|
|
|
|
22,926
|
|
| 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) |
|
|
375
|
|
|
|
|
| Issuance of common stock, net |
576
|
576
|
$ 375
|
201
|
|
|
|
| Conversion of non-managing member units to common stock (in shares) |
|
|
96
|
|
|
|
|
| Conversion of non-managing member units to common stock |
0
|
2,372
|
$ 96
|
2,276
|
|
|
(2,372)
|
| Repurchase of common stock (in shares) |
|
|
(9,541)
|
|
|
|
|
| Repurchase of common stock |
(170,229)
|
(170,229)
|
$ (9,541)
|
(160,688)
|
|
|
|
| Stock-based compensation |
10,509
|
4,194
|
|
4,194
|
|
|
6,315
|
| Common dividends |
(375,545)
|
(375,545)
|
|
|
(375,545)
|
|
|
| Distributions to noncontrolling interests |
(17,453)
|
|
|
|
|
|
(17,453)
|
| 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 Jun. 30, 2024 |
|
|
700,317
|
|
|
|
|
| Ending balance at Jun. 30, 2024 |
9,417,338
|
8,757,498
|
$ 700,317
|
12,859,567
|
(4,844,683)
|
42,297
|
659,840
|
| Beginning balance at Dec. 31, 2023 |
48,828
|
|
|
|
|
|
|
| Increase (Decrease) in Redeemable Noncontrolling Interests |
|
|
|
|
|
|
|
| Net income (loss) |
143
|
|
|
|
|
|
|
| Distributions to noncontrolling interests |
(312)
|
|
|
|
|
|
|
| Contributions from noncontrolling interests |
12
|
|
|
|
|
|
|
| Purchase of noncontrolling interest |
(52,886)
|
|
|
|
|
|
|
| Noncontrolling interests acquired as part of the Merger |
1,536
|
|
|
|
|
|
|
| Adjustments to redeemable noncontrolling interests |
4,112
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2024 |
1,433
|
|
|
|
|
|
|
| Beginning balance (in shares) at Mar. 31, 2024 |
|
|
703,733
|
|
|
|
|
| Beginning balance at Mar. 31, 2024 |
9,544,651
|
8,881,613
|
$ 703,733
|
12,918,936
|
(4,779,599)
|
38,543
|
663,038
|
| Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
| Net income (loss) |
152,756
|
146,047
|
|
|
146,047
|
|
6,709
|
| Other comprehensive income (loss) |
3,754
|
3,754
|
|
|
|
3,754
|
|
| Issuance of common stock, net (in shares) |
|
|
76
|
|
|
|
|
| Issuance of common stock, net |
268
|
268
|
$ 76
|
192
|
|
|
|
| Conversion of non-managing member units to common stock (in shares) |
|
|
96
|
|
|
|
|
| Conversion of non-managing member units to common stock |
0
|
2,372
|
$ 96
|
2,276
|
|
|
(2,372)
|
| Repurchase of common stock (in shares) |
|
|
(3,588)
|
|
|
|
|
| Repurchase of common stock |
(68,234)
|
(68,234)
|
$ (3,588)
|
(64,646)
|
|
|
|
| Stock-based compensation |
5,290
|
2,367
|
|
2,367
|
|
|
2,923
|
| Common dividends |
(211,131)
|
(211,131)
|
|
|
(211,131)
|
|
|
| Distributions to noncontrolling interests |
(10,458)
|
|
|
|
|
|
(10,458)
|
| Adjustments to redeemable noncontrolling interests |
442
|
442
|
|
442
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2024 |
|
|
700,317
|
|
|
|
|
| Ending balance at Jun. 30, 2024 |
9,417,338
|
8,757,498
|
$ 700,317
|
12,859,567
|
(4,844,683)
|
42,297
|
659,840
|
| Beginning balance at Mar. 31, 2024 |
54,848
|
|
|
|
|
|
|
| Increase (Decrease) in Redeemable Noncontrolling Interests |
|
|
|
|
|
|
|
| Net income (loss) |
(40)
|
|
|
|
|
|
|
| Distributions to noncontrolling interests |
(49)
|
|
|
|
|
|
|
| Contributions from noncontrolling interests |
2
|
|
|
|
|
|
|
| Purchase of noncontrolling interest |
(52,886)
|
|
|
|
|
|
|
| Adjustments to redeemable noncontrolling interests |
(442)
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2024 |
1,433
|
|
|
|
|
|
|
| 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
|
|
|
|
|
|
|