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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 280,994 $ 670,701 $ 654,282
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,093,473 1,002,146 821,061
Impairment of real estate 461,114 64,969 52,675
Gain on sales of real estate (277,037) (537,918) (126,570)
Loss on early extinguishment of debt 0 3,317 67,253
Equity in earnings of unconsolidated real estate joint ventures (980) (645) (12,255)
Distributions of earnings from unconsolidated real estate joint ventures 3,257 3,374 20,350
Amortization of loan fees 15,486 13,549 11,441
Amortization of debt discounts (premiums) 1,207 384 (2,041)
Amortization of acquired above- and below-market leases (93,331) (74,346) (54,780)
Deferred rent (133,917) (118,003) (115,145)
Stock compensation expense 82,858 57,740 48,669
Investment loss (income) 195,397 331,758 (259,477)
Changes in operating assets and liabilities:      
Tenant receivables (102) (273) (44)
Deferred leasing costs (109,339) (181,322) (131,560)
Other assets 798 (18,960) (24,591)
Accounts payable, accrued expenses, and other liabilities 110,672 77,850 60,929
Net cash provided by operating activities 1,630,550 1,294,321 1,010,197
Investing Activities      
Proceeds from sales of real estate 1,195,743 994,331 190,576
Additions to real estate (3,418,296) (3,307,313) (2,089,849)
Purchases of real estate (265,750) (2,877,861) (5,434,652)
Change in escrow deposits (5,582) 155,968 (161,696)
Sales of interest in unconsolidated real estate joint ventures 0 0 394,952
Acquisitions of interest in unconsolidated real estate joint venture 0 0 (9,048)
Investments in unconsolidated real estate joint ventures (658) (1,442) (13,666)
Return of capital from unconsolidated real estate joint ventures 0 471 0
Additions to non-real estate investments (189,472) (242,932) (408,564)
Sales of and distributions from non-real estate investments 183,396 198,320 424,623
Net cash used in investing activities (2,500,619) (5,080,458) (7,107,324)
Financing Activities      
Borrowings under secured notes payable 59,957 49,715 10,005
Repayments of borrowings under secured notes payable (30) (934) (17,979)
Payment for the defeasance of secured note payable 0 (198,304) 0
Proceeds from issuances of unsecured senior notes payable 996,205 1,793,318 1,743,716
Repayments of unsecured senior notes payable 0 0 (650,000)
Borrowings under unsecured senior line of credit 1,245,000 1,181,000 3,521,000
Repayments of borrowings under unsecured senior line of credit (1,245,000) (1,181,000) (3,521,000)
Proceeds from issuance under commercial paper program 9,234,000 14,641,500 30,951,300
Repayments of borrowings under commercial paper program (9,134,000) (14,911,500) (30,781,300)
Premium paid for early extinguishment of debt 0 0 (66,829)
Payments of loan fees (16,047) (35,612) (18,938)
Taxes paid related to net settlement of equity awards (24,592) (47,289) (34,338)
Proceeds from issuance of common stock 103,846 2,346,444 3,529,097
Dividends on common stock (847,483) (757,742) (655,968)
Contributions from and sales of noncontrolling interests 547,391 1,542,347 2,026,486
Distributions to and purchases of noncontrolling interests (245,091) (192,171) (118,891)
Net cash provided by financing activities 674,156 4,229,772 5,916,361
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (1,291) (887) (1,712)
Net (decrease) increase in cash, cash equivalents, and restricted cash (197,204) 442,748 (182,478)
Cash, cash equivalents, and restricted cash as of the beginning of period 857,975 415,227 597,705
Cash, cash equivalents, and restricted cash as of the end of period 660,771 857,975 415,227
Supplemental Disclosure and Non-Cash Investing and Financing Activities:      
Cash paid during the period for interest, net of interest capitalized 46,583 63,193 139,471
Accrued construction for current-period additions to real estate 629,351 561,538 474,751
Contribution of assets from real estate joint venture partner 33,250 19,146 118,750
Issuance of noncontrolling interest to joint venture partner (33,250) (19,146) (118,750)
Transfer of real estate assets from tenants 31,310 0 0
Payable for purchase of noncontrolling interest 35,250 0 0
Right-of-use asset 0 21,776 103,860
Lease liability 0 (21,776) (103,860)
Consolidation of real estate assets in connection with our acquisition of partner’s interest in unconsolidated real estate joint venture 0 0 19,613
Assumption of secured note payable in connection with acquisition of partner’s interest in unconsolidated real estate joint venture 0 0 (14,558)
Deferred purchase price in connection with acquisitions of real estate 0 0 (81,119)
Assignment of secured notes payable in connection with sale of real estate $ 0 $ 0 $ 28,200