v3.26.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investments in real estate:    
Land, buildings and improvements — net lease and other $ 15,222,867 $ 14,451,306
Land, buildings and improvements — operating properties 181,694 286,079
Net investments in finance leases and loans receivable 1,174,274 1,171,886
In-place lease intangible assets and other 2,581,342 2,466,199
Above-market rent intangible assets 653,281 668,707
Investments in real estate 19,813,458 19,044,177
Accumulated depreciation and amortization (3,656,944) (3,578,330)
Assets held for sale, net 10,441 3,327
Net investments in real estate 16,166,955 15,469,174
Equity method investments 279,503 310,178
Cash and cash equivalents 163,538 155,329
Other assets, net 1,042,026 1,068,480
Goodwill 982,611 987,071
Total assets [1] 18,634,633 17,990,232
Debt:    
Senior unsecured notes, net 7,376,851 6,950,261
Unsecured term loans, net 1,164,524 1,196,366
Unsecured revolving credit facility 116,230 435,417
Non-recourse mortgages, net 194,246 140,646
Debt, net 8,851,851 8,722,690
Accounts payable, accrued expenses and other liabilities 621,068 670,038
Below-market rent intangible liabilities, net 97,192 104,055
Deferred income taxes 157,117 151,820
Dividends payable 218,789 207,487
Total liabilities [1] 9,946,017 9,856,090
Commitments and contingencies (Note 11)
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued 0 0
Common stock, $0.001 par value, $450,000,000 shares authorized; $227,807,251 and $219,145,876 shares, respectively, issued and outstanding 228 219
Additional paid-in capital 12,418,948 11,830,737
Distributions in excess of accumulated earnings (3,605,214) (3,539,592)
Deferred compensation obligation 100,172 80,239
Accumulated other comprehensive loss (241,737) (253,346)
Total stockholders’ equity 8,672,397 8,118,257
Noncontrolling interests 16,219 15,885
Total equity 8,688,616 8,134,142
Total liabilities and equity $ 18,634,633 $ 17,990,232
[1] See Note 2 for details related to variable interest entities (“VIEs”).