v3.26.1
Investment in Unconsolidated Entities and International Investments - Combined Statements of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUE:        
Lease income $ 1,659,709 $ 1,379,454 $ 3,288,240 $ 2,746,882
Other income 90,055 81,074 178,429 152,867
Total revenue 1,790,598 1,498,459 3,547,691 2,971,472
OPERATING EXPENSES:        
Property operating 171,440 139,816 342,200 276,637
Depreciation and amortization 459,876 339,058 918,773 667,109
Real estate taxes 131,905 105,315 267,865 212,768
Repairs and maintenance 32,687 26,238 72,888 56,380
Advertising and promotion 39,056 36,310 72,986 70,566
Other 49,690 35,663 82,918 66,641
Total operating expenses 966,500 754,262 1,961,431 1,499,658
OPERATING INCOME BEFORE OTHER ITEMS 824,098 744,197 1,586,260 1,471,814
Interest expense (281,164) (232,724) (556,826) (459,720)
CONSOLIDATED NET INCOME 574,130 643,681 1,142,665 1,121,541
Income from Unconsolidated Entities 119,127 122,875 97,879 153,234
Unconsolidated properties | Equity Method Investees excluding Klepierre, TRG before acquisition and other platform investments        
OPERATING EXPENSES:        
Third-Party Investors' Share of Net Income 142,119 107,651 258,581 204,248
Our Share of Net Income 132,297 101,956 247,766 194,655
Amortization of Excess Investment (48,684) (13,871) (96,341) (28,336)
Income from Unconsolidated Entities 83,613 88,085 151,425 166,319
Unconsolidated properties | Equity Method Investees excluding Klepierre, TRG before acquisition and other platform investments        
REVENUE:        
Lease income 937,653 757,888 1,859,445 1,507,695
Other income 103,708 112,941 208,889 207,008
Total revenue 1,041,361 870,829 2,068,334 1,714,703
OPERATING EXPENSES:        
Property operating 201,456 165,960 416,398 332,607
Depreciation and amortization 177,211 159,675 362,376 318,687
Real estate taxes 67,310 58,606 133,709 117,398
Repairs and maintenance 23,159 18,204 49,440 38,967
Advertising and promotion 25,085 22,474 50,018 44,623
Other 67,184 61,308 139,469 118,155
Total operating expenses 561,405 486,227 1,151,410 970,437
OPERATING INCOME BEFORE OTHER ITEMS 479,956 384,602 916,924 744,266
Interest expense (205,540) (174,995) (410,577) (345,363)
CONSOLIDATED NET INCOME $ 274,416 $ 209,607 $ 506,347 $ 398,903