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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Land $ 5,936,188 $ 5,875,803
Depreciable property 21,319,101 20,435,901
Projects under development 181,630 109,409
Land held for development 96,688 89,909
Investment in real estate 27,533,607 26,511,022
Accumulated depreciation (7,276,786) (6,696,281)
Investment in real estate, net 20,256,821 19,814,741
Investments in unconsolidated entities 52,238 58,349
Cash and cash equivalents 45,753 47,442
Restricted deposits 71,246 68,871
Right-of-use assets 512,774  
Other assets 233,937 404,806
Total assets 21,172,769 20,394,209
Liabilities:    
Mortgage notes payable, net 1,941,610 2,385,470
Notes, net 6,077,513 5,933,286
Line of credit and commercial paper 1,017,833 499,183
Accounts payable and accrued expenses 94,350 102,471
Accrued interest payable 66,852 62,622
Lease liabilities 331,334  
Other liabilities 346,963 358,563
Security deposits 70,062 67,258
Distributions payable 218,326 206,601
Total liabilities 10,164,843 9,615,454
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership 463,400 379,106
Shareholders' equity:    
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of December 31, 2019 and December 31, 2018 37,280 37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 371,670,884 shares issued and outstanding as of December 31, 2019 and 369,405,161 shares issued and outstanding as of December 31, 2018 3,717 3,694
Paid in capital 8,965,577 8,935,453
Retained earnings 1,386,495 1,261,763
Accumulated other comprehensive income (loss) (77,563) (64,986)
Total shareholders’ equity 10,315,506 10,173,204
Noncontrolling Interests:    
Operating Partnership 227,837 228,738
Partially Owned Properties 1,183 (2,293)
Total Noncontrolling Interests 229,020 226,445
Total equity 10,544,526 10,399,649
Total liabilities and equity/capital $ 21,172,769 $ 20,394,209