v3.26.3
Investment in Unconsolidated Entities and International Investments - Combined Statements of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
REVENUE:        
Lease income $ 1,681,393 $ 1,452,930 $ 4,969,633 $ 4,199,812
Other income 86,982 111,717 265,411 264,583
Total revenue 1,814,556 1,601,572 5,362,247 4,573,043
OPERATING EXPENSES:        
Property operating 180,827 149,811 523,026 426,447
Depreciation and amortization 510,768 338,639 1,429,541 1,005,748
Real estate taxes 126,335 115,400 394,200 328,168
Repairs and maintenance 31,600 25,595 104,487 81,975
Advertising and promotion 35,945 38,645 108,930 109,211
Other 43,118 40,195 126,038 106,837
Total operating expenses 1,010,106 788,658 2,971,537 2,288,316
OPERATING INCOME BEFORE OTHER ITEMS 804,450 812,914 2,390,710 2,284,727
Interest expense (287,590) (242,790) (844,417) (702,509)
CONSOLIDATED NET INCOME 565,294 702,696 1,707,959 1,824,237
Income from Unconsolidated Entities 152,992 143,916 250,871 297,150
Unconsolidated properties | Equity Method Investees excluding Klepierre and other platform investments        
OPERATING EXPENSES:        
Third-Party Investors' Share of Net Income 257,552 110,051 516,134 314,298
Our Share of Net Income 247,391 107,526 495,157 302,181
Amortization of excess Investment (13,708) (13,822) (110,049) (42,158)
Our Share of (Gain) loss on Acquisition of Controlling Interest, Sale or Disposal of, or Recovery on, Assets and Interests in Unconsolidated Entities and Impairment, net (114,588) (722) (114,588) (722)
Income from Unconsolidated Entities 119,095 92,982 270,520 259,301
Unconsolidated properties | Equity Method Investees excluding Klepierre and other platform investments        
REVENUE:        
Lease income 954,138 758,148 2,813,583 2,265,844
Other income 102,772 110,101 311,661 317,108
Total revenue 1,056,910 868,249 3,125,244 2,582,952
OPERATING EXPENSES:        
Property operating 207,754 166,804 624,152 499,411
Depreciation and amortization 176,169 152,713 538,544 471,399
Real estate taxes 70,178 50,187 203,887 167,586
Repairs and maintenance 29,408 23,564 78,849 62,531
Advertising and promotion 24,665 20,963 74,683 65,586
Other 63,892 62,078 203,360 180,233
Total operating expenses 572,066 476,309 1,723,475 1,446,746
OPERATING INCOME BEFORE OTHER ITEMS 484,844 391,940 1,401,769 1,136,206
Interest expense (209,537) (175,580) (620,114) (520,944)
Gain (loss) on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 229,636 1,217 229,636 1,217
CONSOLIDATED NET INCOME $ 504,943 $ 217,577 $ 1,011,291 $ 616,479