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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Land $ 5,785,367 $ 5,785,367
Depreciable property 20,952,067 20,920,654
Projects under development 476,010 411,134
Land held for development 88,360 86,170
Investment in real estate 27,301,804 27,203,325
Accumulated depreciation (8,059,619) (7,859,657)
Investment in real estate, net 19,242,185 19,343,668
Investments in unconsolidated entities 53,274 52,782
Cash and cash equivalents 35,453 42,591
Restricted deposits 62,383 57,137
Right-of-use assets 484,999 499,287
Other assets 290,721 291,426
Total assets 20,169,015 20,286,891
Liabilities:    
Mortgage notes payable, net 2,270,700 2,293,890
Notes, net 5,337,103 5,335,536
Line of credit and commercial paper 429,753 414,830
Accounts payable and accrued expenses 168,028 107,366
Accrued interest payable 55,489 65,896
Lease liabilities 316,838 329,130
Other liabilities 335,664 345,064
Security deposits 60,939 60,480
Distributions payable 232,737 232,262
Total liabilities 9,207,251 9,184,454
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership 409,523 338,951
Shareholders' equity:    
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of March 31, 2021 and December 31, 2020 37,280 37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 372,917,413 shares issued and outstanding as of March 31, 2021 and 372,302,000 shares issued and outstanding as of December 31, 2020 3,729 3,723
Paid in capital 9,083,346 9,128,599
Retained earnings 1,231,808 1,399,715
Accumulated other comprehensive income (loss) (41,363) (43,666)
Total shareholders’ equity 10,314,800 10,525,651
Noncontrolling Interests:    
Operating Partnership 234,969 233,162
Partially Owned Properties 2,472 4,673
Total Noncontrolling Interests 237,441 237,835
Total equity 10,552,241 10,763,486
Total liabilities and equity/capital $ 20,169,015 $ 20,286,891