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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure [Table]          
Pay vs Performance Disclosure, Table

Pay Versus Performance Disclosure

 

In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officers (“PEOs”) and our named executive officers other than our PEOs (“Non-PEO NEOs”) and Company performance for the fiscal years listed below. The Talent and Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

 

                                         
    Summary   Summary   Compensation   Compensation   Average
Summary
Compensation
  Average
Compensation
  Value of Initial
Fixed $100
Investment
based on:(4)
       
Year    Compensation
Table Total for
Former PEO(1)
($)
   Compensation
Table Total for
Current PEO(1)
($)
   Actually Paid
to Former
PEO(1)(2)(3)
($)
   Actually Paid
to Current
PEO(1)(2)(3)
($)
   Table Total
for Non-PEO

NEOs(1)
($)
   Actually Paid
to Non-PEO
NEOs(1)(2)(3)
($)
   TSR
($)
   Peer
Group
TSR
($)
   Net
Income
($ Thousands)
   Core FFO
Per Share(5)
($)
2024     16,254,113     28,035,729   3,544,187   5,679,475   176.74   123.47   588,327   6.71
2023     12,355,560     22,300,154   3,688,215   6,285,640   130.06   113.54   950,312   6.59
2022   23,695,471   6,835,895   (14,083,891 ) (6,498,305 ) 4,415,342   (1,811,344 92.96   99.82   380,325   6.70
2021   17,139,601     30,533,169     6,067,449   7,770,066   157.39   132.23   1,747,412   6.53
2020   17,789,395     40,467,482     5,765,543   9,310,477   120.46   92.43   362,730   6.21
       
Company Selected Measure Name Core FFO        
Named Executive Officers, Footnote
(1) A. William Stein was our PEO from November 24, 2014 to December 13, 2022 (“Former PEO”). Andrew P. Power has been our PEO since December 13, 2022 (“Current PEO”). The individuals comprising the Non-PEO NEOs for each year presented are listed below.

 

       
Peer Group Issuers, Footnote [Text Block]
(4) The Peer Group TSR set forth in this table utilizes the MSCI US REIT Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report on Form 10-K for the year ended December 31, 2024. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the MSCI US REIT Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
       
Adjustment To PEO Compensation, Footnote
(3) Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the Current PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table for the Current PEO and the average for the non-PEO NEOs.

 

Year   Summary Compensation
Table Total for
Current PEO
($)
  Exclusion of Stock Awards for
Current PEO
($)
  Inclusion
of Equity Values for
Current PEO
($)
  Compensation
Actually Paid to
Current PEO
($)
 
2024   16,254,113   (11,214,278 22,995,894   28,035,729  
                   
Year   Average Summary
Compensation Table Total
for Non-PEO NEOs
($)
  Average Exclusion
of Stock Awards
for Non-PEO NEOs
($)
  Average Inclusion
of Equity Values
for Non-PEO NEOs
($)
  Average Compensation
Actually Paid to
Non-PEO NEOs
($)
 
2024   3,544,187   (2,061,349 ) 4,196,637   5,679,475  

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

 

Year    Year-End Fair
Value of Equity
Awards Granted
During Year That
Remained Unvested
as of Last Day of
Year for
Current PEO

($)
   Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards for
Current PEO
($)
   Vesting-Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for
Current PEO
($)
   Change in Fair
Value from Last
Day of Prior Year
to Vesting Date
of Unvested
Equity Awards
that Vested
During Year for
Current PEO
($)
   Fair Value at Last Day
of Prior Year of Equity
Awards Forfeited
During Year for
Current PEO
($)
   Value of Dividends
or Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
Current PEO
($)
   Total - Inclusion
of Equity Values
for Current PEO

($)
 
2024   15,936,379   6,287,651     771,864       22,995,894  
                               
Year   Average
Year-End Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for Non-PEO
NEOs
($)
  Average
Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards for
Non-PEO NEOs
($)
  Average
Vesting-Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for
Non-PEO NEOs
($)
  Average Change
in Fair Value from
Last Day of Prior
Year to Vesting
Date of Unvested
Equity Awards
that Vested
During Year for
Non-PEO NEOs
($)
  Average Fair Value at
Last Day of Prior Year
of Equity Awards
Forfeited During Year
for Non-PEO NEOs
($)
  Average Value
of Dividends or
Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
Non-PEO NEOs
($)
  Total - Average
Inclusion of
Equity Values for
Non-PEO NEOs
($)
 
2024   3,228,055   843,199   60,781   64,602       4,196,637  
       
Non-PEO NEO Average Total Compensation Amount $ 3,544,187 $ 3,688,215 $ 4,415,342 $ 6,067,449 $ 5,765,543
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,679,475 6,285,640 (1,811,344) 7,770,066 9,310,477
Adjustment to Non-PEO NEO Compensation Footnote
(3) Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the Current PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table for the Current PEO and the average for the non-PEO NEOs.

 

Year   Summary Compensation
Table Total for
Current PEO
($)
  Exclusion of Stock Awards for
Current PEO
($)
  Inclusion
of Equity Values for
Current PEO
($)
  Compensation
Actually Paid to
Current PEO
($)
 
2024   16,254,113   (11,214,278 22,995,894   28,035,729  
                   
Year   Average Summary
Compensation Table Total
for Non-PEO NEOs
($)
  Average Exclusion
of Stock Awards
for Non-PEO NEOs
($)
  Average Inclusion
of Equity Values
for Non-PEO NEOs
($)
  Average Compensation
Actually Paid to
Non-PEO NEOs
($)
 
2024   3,544,187   (2,061,349 ) 4,196,637   5,679,475  

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

 

Year    Year-End Fair
Value of Equity
Awards Granted
During Year That
Remained Unvested
as of Last Day of
Year for
Current PEO

($)
   Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards for
Current PEO
($)
   Vesting-Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for
Current PEO
($)
   Change in Fair
Value from Last
Day of Prior Year
to Vesting Date
of Unvested
Equity Awards
that Vested
During Year for
Current PEO
($)
   Fair Value at Last Day
of Prior Year of Equity
Awards Forfeited
During Year for
Current PEO
($)
   Value of Dividends
or Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
Current PEO
($)
   Total - Inclusion
of Equity Values
for Current PEO

($)
 
2024   15,936,379   6,287,651     771,864       22,995,894  
                               
Year   Average
Year-End Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for Non-PEO
NEOs
($)
  Average
Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards for
Non-PEO NEOs
($)
  Average
Vesting-Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for
Non-PEO NEOs
($)
  Average Change
in Fair Value from
Last Day of Prior
Year to Vesting
Date of Unvested
Equity Awards
that Vested
During Year for
Non-PEO NEOs
($)
  Average Fair Value at
Last Day of Prior Year
of Equity Awards
Forfeited During Year
for Non-PEO NEOs
($)
  Average Value
of Dividends or
Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
Non-PEO NEOs
($)
  Total - Average
Inclusion of
Equity Values for
Non-PEO NEOs
($)
 
2024   3,228,055   843,199   60,781   64,602       4,196,637  
       
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Total Shareholder Return (“TSR”) and Cumulative TSR comparison

 

The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and the Company’s cumulative TSR over the five most recently completed fiscal years. The chart also compares the Company’s TSR to that of the MSCI US REIT Index over the same period.

 

PEO and Average Non-PEO NEO Compensation Actually Paid Versus TSR

 

       
Compensation Actually Paid vs. Net Income [Text Block]

Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income

 

The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and our net income during the five most recently completed fiscal years.

 

PEO and Average Non-PEO NEO Compensation Actually Paid
Versus Net Income

 

       
Compensation Actually Paid vs. Company Selected Measure [Text Block]

Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Core Funds From Operations Per Share

 

The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Core FFO Per Share during the five most recently completed fiscal years. Core FFO Per Share is a non-GAAP metric. A reconciliation of net income to FFO and FFO to Core FFO Per Share is available in Appendix 1 of this Proxy Statement.

 

PEO and Average Non-PEO NEO Compensation Actually Paid
Versus Core Funds From Operations Per Share

 

       
Tabular List [Table Text Block]

Tabular List of Most Important Financial Performance Measures

 

The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our Current PEO and Non-PEO NEOs for 2024 to Company performance. The measures in this table are not ranked.

 

  Core FFO Per Share and Unit  
  Relative TSR  
  Net Income from Operations  
       
Total Shareholder Return Amount $ 176.74 130.06 92.96 157.39 120.46
Peer Group Total Shareholder Return Amount 123.47 113.54 99.82 132.23 92.43
Net Income (Loss) Attributable to Parent $ 588,327,000 $ 950,312,000 $ 380,325,000 $ 1,747,412,000 $ 362,730,000
Company Selected Measure Amount 6.71 6.59 6.70 6.53 6.21
Measure [Axis]: 1          
Pay vs Performance Disclosure [Table]          
Measure Name Core FFO Per Share and Unit        
Non-GAAP Measure Description [Text Block]
(5) We determined Core FFO per share and unit (“Core FFO Per Share”) to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our Current PEO and Non-PEO NEOs in 2024. Core FFO Per Share may not have been the most important financial performance measure for prior years and we may determine a different financial performance measure to be the most important financial performance measure in future years. Core FFO Per Share is a non-GAAP metric. A reconciliation of net income to FFO and FFO to Core FFO Per Share is available in Appendix 1 of this Proxy Statement.
       
Measure [Axis]: 2          
Pay vs Performance Disclosure [Table]          
Measure Name Relative TSR        
Measure [Axis]: 3          
Pay vs Performance Disclosure [Table]          
Measure Name Net Income from Operations        
Average Exclusion Of Stock Awards For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount $ (2,061,349)        
Average Inclusion Of Equity Values For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 4,196,637        
Average Year End Fair Value Of Equity Awards Granted During Year That Remained Unvested As Of Last Day Of Year For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 3,228,055        
Average Change In Fair Value From Last Day Of Prior Year To Last Day Of Year Of Unvested Equity Awards For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 843,199        
Average Vesting Date Fair Value Of Equity Awards Granted During Year That Vested During Year For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 60,781        
Average Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 64,602        
Average Fair Value At Last Day Of Prior Year Of Equity Awards Forfeited During Year For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 0        
Average Value Of Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Included For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 0        
Total Average Inclusion Of Equity Values For Non P E O Neos [Member] | Non-PEO NEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 4,196,637        
A. William Stein [Member]          
Pay vs Performance Disclosure [Table]          
PEO Total Compensation Amount 0 $ 0 $ 23,695,471 $ 17,139,601 $ 17,789,395
PEO Actually Paid Compensation Amount 0 0 $ (14,083,891) $ 30,533,169 $ 40,467,482
PEO Name     A. William Stein A. William Stein A. William Stein
Andrew P. Power [Member]          
Pay vs Performance Disclosure [Table]          
PEO Total Compensation Amount 16,254,113 12,355,560 $ 6,835,895 $ 0 $ 0
PEO Actually Paid Compensation Amount $ 28,035,729 $ 22,300,154 $ (6,498,305) $ 0 $ 0
PEO Name Andrew P. Power Andrew P. Power Andrew P. Power    
Andrew P. Power [Member] | Exclusion Of Stock Awards For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount $ (11,214,278)        
Andrew P. Power [Member] | Inclusion Of Equity Values For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 22,995,894        
Andrew P. Power [Member] | Year End Fair Value Of Equity Awards Granted During Year That Remained Unvested As Of Last Day Of Year For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 15,936,379        
Andrew P. Power [Member] | Change In Fair Value From Last Day Of Prior Year To Last Day Of Year Of Unvested Equity Awards For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 6,287,651        
Andrew P. Power [Member] | Vesting Date Fair Value Of Equity Awards Granted During Year That Vested During Year For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 0        
Andrew P. Power [Member] | Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 771,864        
Andrew P. Power [Member] | Fair Value At Last Day Of Prior Year Of Equity Awards Forfeited During Year For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 0        
Andrew P. Power [Member] | Value Of Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Included For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount 0        
Andrew P. Power [Member] | Total Inclusion Of Equity Values For Current P E O [Member] | PEO [Member]          
Pay vs Performance Disclosure [Table]          
Adjustment to Compensation Amount $ 22,995,894