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Fair value measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities measured at fair value on recurring basis

The following tables present our financial assets and liabilities that we measured at fair value on a recurring basis by level within the fair value hierarchy as of June 30, 2025 and December 31, 2024:

			June 30, 2025
			Total						Level 1						Level 2						Level 3
Assets
Derivative assets			$	36,913					$	—					$	36,913					$	—
Investments, at fair value			25,235						25,235						—						—
Liabilities
Derivative liabilities			$	89,457					$	—					$	89,457					$	—
			December 31, 2024
			Total						Level 1						Level 2						Level 3
Assets
Derivative assets			$	81,770					$	—					$	81,770					$	—
Investments, at fair value			75,496						75,496						—						—
Liabilities
Derivative liabilities			$	15,440					$	—					$	15,440					$	—

Schedule of carrying amounts and fair values of most significant financial instruments

The carrying amounts and fair values of our most significant financial instruments as of June 30, 2025 and December 31, 2024 were as follows:

			June 30, 2025
			Carrying value						Fair value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	2,696,068					$	2,696,068					$	2,696,068					$	—					$	—
Restricted cash			150,081						150,081						150,081						—						—
Loans receivable			579,996						613,499						—						—						613,499
Notes receivable			305,572						305,572						—						—						305,572
Derivative assets			36,913						36,913						—						36,913						—
Investments, at fair value			25,235						25,235						25,235						—						—
			$	3,793,865					$	3,827,368					$	2,871,384					$	36,913					$	919,071
Liabilities
Debt			$	46,356,428		(a)			$	45,261,026					$	—					$	45,261,026					$	—
Derivative liabilities			89,457						89,457						—						89,457						—
			$	46,445,885					$	45,350,483					$	—					$	45,350,483					$	—

(a)Excludes debt issuance costs, debt discounts and debt premium.

			December 31, 2024
			Carrying value						Fair value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	1,209,226					$	1,209,226					$	1,209,226					$	—					$	—
Restricted cash			192,356						192,356						192,356						—						—
Loans receivable			595,640						625,191						—						—						625,191
Notes receivable			401,989						401,989						—						—						401,989
Derivative assets			81,770						81,770						—						81,770						—
Investments, at fair value			75,496						75,496						75,496						—						—
			$	2,556,477					$	2,586,028					$	1,477,078					$	81,770					$	1,027,180
Liabilities
Debt			$	45,537,495		(a)			$	43,770,740					$	—					$	43,770,740					$	—
Derivative liabilities			15,440						15,440						—						15,440						—
			$	45,552,935					$	43,786,180					$	—					$	43,786,180					$	—

(a)Excludes debt issuance costs, debt discounts and debt premium.

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-13

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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