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v3.25.3

Segment and Geographic Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Income and Comprehensive Income | Our significant segment expenses include consolidated expense categories presented in our consolidated statements of income and comprehensive income, as well as additional significant segment expense categories reported within 'Property (including reimbursements)' and 'General and administrative' expense captions, as follows (in thousands):
| Three months ended September 30, |  | Nine months ended September 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Property expenses (excluding reimbursements) | $ | 24,104 |  |  | $ | 17,806 |  |  | $ | 63,405 |  |  | $ | 53,736 |  |  |
Cash G&A expenses (1) | $ | 47,320 |  |  | $ | 35,468 |  |  | $ | 126,684 |  |  | $ | 104,861 |  |  |
(1) Represents 'General and administrative' expenses as presented in our consolidated statements of income and comprehensive income, less share-based compensation costs.
Schedule of Disaggregation of Revenue by Segment | The following table disaggregates domestic and international revenue by major asset types and geographic regions (in thousands):
|  | Three months ended September 30,
|  | 2025 |  | 2024
|  | U.S. |  | U.K. |  | Other (1) |  | Total |  | U.S. |  | U.K. |  | Other (1) |  | Total
Retail |  | $ | 892,108 |  |  | $ | 161,040 |  |  | $ | 51,810 |  |  | $ | 1,104,958 |  |  | $ | 844,330 |  |  | $ | 132,123 |  |  | $ | 31,527 |  |  | $ | 1,007,980 |
Industrial |  | 193,018 |  |  | 17,574 |  |  | 8,754 |  |  | 219,346 |  |  | 190,034 |  |  | 12,161 |  |  | — |  |  | 202,195 |
Other (2) |  | 61,451 |  |  | 747 |  |  | — |  |  | 62,198 |  |  | 60,972 |  |  | 6 |  |  | — |  |  | 60,978 |
Rental (including reimbursements) |  | $ | 1,146,577 |  |  | $ | 179,361 |  |  | $ | 60,564 |  |  | $ | 1,386,502 |  |  | $ | 1,095,336 |  |  | $ | 144,290 |  |  | $ | 31,527 |  |  | $ | 1,271,153 |
Other revenue |  |  |  |  |  |  |  | 84,050 |  |  |  |  |  |  |  |  | 59,762 |
Total revenue |  |  |  |  |  |  |  | $ | 1,470,552 |  |  |  |  |  |  |  |  | $ | 1,330,915 |
|  | Nine months ended September 30,
|  | 2025 |  | 2024
|  | U.S. |  | U.K. |  | Other (1) |  | Total |  | U.S. |  | U.K. |  | Other (1) |  | Total
Retail |  | $ | 2,614,542 |  |  | $ | 454,710 |  |  | $ | 138,416 |  |  | $ | 3,207,668 |  |  | $ | 2,513,959 |  |  | $ | 372,644 |  |  | $ | 98,782 |  |  | $ | 2,985,385 |
Industrial |  | 586,652 |  |  | 41,819 |  |  | 13,291 |  |  | 641,762 |  |  | 558,267 |  |  | 36,044 |  |  | — |  |  | 594,311 |
Other (2) |  | 185,080 |  |  | 3,237 |  |  | — |  |  | 188,317 |  |  | 184,348 |  |  | 6 |  |  | — |  |  | 184,354 |
Rental (including reimbursements) |  | $ | 3,386,274 |  |  | $ | 499,766 |  |  | $ | 151,707 |  |  | $ | 4,037,747 |  |  | $ | 3,256,574 |  |  | $ | 408,694 |  |  | $ | 98,782 |  |  | $ | 3,764,050 |
Other revenue |  |  |  |  |  |  |  | 223,688 |  |  |  |  |  |  |  |  | 166,793 |
Total revenue |  |  |  |  |  |  |  | $ | 4,261,435 |  |  |  |  |  |  |  |  | $ | 3,930,843 |
(1) Other includes rental revenue generated from all other European countries we operate in. (2) Other includes all other property types in our portfolio.
Schedule of Disaggregation of Long-Lived Assets | The following table disaggregates domestic and international total long-lived assets (in millions):
|  | September 30, 2025 |  | December 31, 2024
|  | U.S. |  | U.K. |  | Other (1) |  | Total |  | U.S. |  | U.K. |  | Other (1) |  | Total
Long-lived assets |  | $ | 42,442.5 |  |  | $ | 9,083.6 |  |  | $ | 2,649.1 |  |  | $ | 54,175.2 |  |  | $ | 43,186.5 |  |  | $ | 7,485.6 |  |  | $ | 1,617.7 |  |  | $ | 52,289.8 |
Remaining assets |  |  |  |  |  |  |  | 17,103.8 |  |  |  |  |  |  |  |  | 16,545.2 |
Total assets |  |  |  |  |  |  |  | $ | 71,279.0 |  |  |  |  |  |  |  |  | $ | 68,835.0 |
(1) Other includes long-lived assets in all other European countries we operate in.

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