v3.26.1
Segments and Geographic Locations - Reconciliation (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Income:    
Lease Income $ 1,628,532 $ 1,367,428
Management fees and other revenues 40,189 33,792
Other Income 88,372 71,792
Total revenue 1,757,093 1,473,012
Segment Expenses:    
Property Operating 170,760 136,821
Real estate taxes 135,960 107,452
Repairs and maintenance 40,200 30,142
Advertising and promotion 33,930 34,257
Other 33,215 30,978
Total segment operating expenses 414,065 339,650
NOI of consolidated entities 1,343,028 1,133,362
Non-Segment Income:    
Income and other tax benefit 19,934 7,637
Unrealized gains (losses) in fair value of publicly traded equity instruments and derivative instrument, net 25,388 (36,765)
Gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 64,339  
Non-Segment Expenses:    
Depreciation and amortization 458,898 328,051
Home and regional office costs 67,656 65,066
General and administrative 54,299 12,629
Interest expense 275,662 226,995
(Loss) income from unconsolidated entities (21,248) 30,359
Loss due to disposal, exchange, or revaluation of equity interests, net 6,379 23,992
Other expense 12  
CONSOLIDATED NET INCOME 568,535 477,860
All other & eliminations, net    
Segment Income:    
Lease Income (2,888) (7,528)
Management fees and other revenues 40,189 33,792
Other Income 48,940 46,092
Total revenue 86,241 72,356
Segment Expenses:    
Property Operating (55,158) (34,916)
Real estate taxes (3,103) (6,034)
Repairs and maintenance 697 584
Advertising and promotion (1,890) (1,571)
Other 10,424 16,319
Total segment operating expenses (49,030) (25,618)
NOI of consolidated entities 135,271 97,974
Real estate segment | Operating Segments    
Segment Income:    
Lease Income 1,631,420 1,374,956
Other Income 39,432 25,700
Total revenue 1,670,852 1,400,656
Segment Expenses:    
Property Operating 225,918 171,737
Real estate taxes 139,063 113,486
Repairs and maintenance 39,503 29,558
Advertising and promotion 35,820 35,828
Other 22,791 14,659
Total segment operating expenses 463,095 365,268
NOI of consolidated entities $ 1,207,757 $ 1,035,388