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Accounts payable, accrued expenses, and other liabilities (Notes) | 12 Months Ended
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Dec. 31, 2024
Payables and Accruals [Abstract] |
Accounts payable, accrued expenses, and tenant security deposits | The following table summarizes the components of accounts payable, accrued expenses, and other liabilities as of December 31, 2024 and 2023 (in thousands):
| December 31,
| 2024 |  | 2023
Accounts payable and accrued expenses | $534,803 |  | $524,439
Accrued construction | 500,890 |  | 606,333
Acquired below-market leases | 180,407 |  | 322,040
Conditional asset retirement obligations | 53,968 |  | 53,083
Deferred rent liabilities | 11,461 |  | 15,183
Operating lease liability | 507,127 | (1) | 382,883
Unearned rent and tenant security deposits | 691,873 |  | 548,529
Other liabilities | 173,822 |  | 158,453
Total | $2,654,351 |  | $2,610,943
(1)Balance as of December 31, 2024 i nclude s a $135.0 million ground lease liability related to an amendment executed in July 2024 to our existing ground lease agreement at the Alexandria Technology Square® Megacampus. For additional information, refer to “Leases in which we are the lessee” in Note 5 – “Leases” to our consolidated financial statements. As of December 31, 2024 and 2023, our conditional asset retirement obligations liability primarily consisted of the soil and groundwater remediation liabilities associated with certain of our properties. Some of our properties may contain asbestos or may be subjected to other hazardous or toxic substances, which, under certain conditions, requires remediation. We engage independent environmental consultants to conduct Phase I or similar environmental assessments at our properties. This type of assessment generally includes a site inspection, interviews, and a public records review; asbestos, lead-based paint, and mold surveys; subsurface sampling; and other testing. We recognize a liability for the fair value of a conditional asset retirement obligation (including asbestos) when the fair value of the liability can be reasonably estimated. In addition, environmental laws and regulations subject our tenants, and potentially us, to liability that may result from our tenants’ routine handling of hazardous substances and wastes as part of their operations at our properties. These assessments and investigations of our properties have not to date revealed any additional environmental liability we believe would have a material adverse effect on our business and financial statements or that would require additional disclosures or recognition in our consolidated financial statements.

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