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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 3,951,340 $ 1,337,620
Adjustments to reconcile net income to net cash flows from operating activities:    
Gain on sale of equity investment in PS Business Parks, Inc. (2,128,860) 0
Gain on sale of real estate (1,503) (13,683)
Depreciation and amortization 661,608 508,139
Equity in earnings of unconsolidated real estate entities (100,129) (81,382)
Distributions from cumulative equity in earnings of unconsolidated real estate entities 134,460 59,251
Unrealized foreign currency exchange gain (236,698) (73,584)
Share-based compensation expense 44,597 47,647
Other 55,975 30,712
Total adjustments (1,570,550) 477,100
Net cash flows from operating activities 2,380,790 1,814,720
Cash flows from investing activities:    
Capital expenditures to maintain real estate facilities (337,896) (169,103)
Development and expansion of real estate facilities (231,483) (201,527)
Acquisition of real estate facilities and intangible assets (529,357) (2,845,284)
Distributions in excess of cumulative equity in earnings from unconsolidated real estate entities 13,670 8,765
Proceeds from sale of real estate investments 1,543 16,070
Proceeds from sale of equity investment in PS Business Parks, Inc. 2,636,011 0
Net cash flows from (used in) investing activities 1,552,488 (3,191,079)
Cash flows from financing activities:    
Repayments on notes payable (502,270) (1,585)
Issuance of notes payable, net of issuance costs 0 3,300,160
Issuance of preferred shares 242,832 725,311
Issuance of common shares in connection with share-based compensation 27,913 81,412
Redemption of preferred shares 0 (825,000)
Taxes paid upon net share settlement of restricted share units (12,989) (10,438)
Acquisition of noncontrolling interests 0 (33)
Contributions by noncontrolling interests 1,659 2,359
Distributions paid to preferred shareholders, common shareholders and restricted share unitholders (3,508,581) (1,189,876)
Distributions paid to noncontrolling interests (31,453) (4,513)
Net cash flows (used in) from financing activities (3,782,889) 2,077,797
Net cash flows from operating, investing, and financing activities 150,389 701,438
Net effect of foreign exchange impact on cash and equivalents, including restricted cash 0 313
Increase in cash and equivalents, including restricted cash 150,389 701,751
Cash and equivalents, including restricted cash at beginning of the period:    
Cash and equivalents 734,599 257,560
Restricted cash included in other assets 26,691 25,040
Cash, equivalents, and restricted cash 761,290 282,600
Cash and equivalents, including restricted cash at end of the period:    
Cash and equivalents 883,787 958,247
Restricted cash included in other assets 27,892 26,104
Cash, equivalents, and restricted cash 911,679 984,351
Costs incurred during the period remaining unpaid at period end for:    
Capital expenditures to maintain real estate facilities (14,254) (18,243)
Construction or expansion of real estate facilities (71,006) (39,305)
Real estate acquired in exchange for noncontrolling interests $ (19,865) $ 0