XML 91 R67.htm IDEA: XBRL DOCUMENT v3.25.0.1
Tax Treatment of Distributions (Tables)
 12 Months Ended
Dec. 31, 2024
Class of Stock [Line Items]  
Schedule of Reconciliation of Dividends Declared to Dividends Paid
The following table reconciles the dividends declared per share of common stock to the dividends paid per share of common stock during the years ended December 31, 2024, 2023, and 2022 as follows: 

Year Ended December 31,
Dividends202420232022
Dividends declared per share of common stock$2.160 $2.160 $2.120 
Less: Dividends declared in the current year and paid in the following year(0.540)(0.540)(0.540)
Add: Dividends declared in the prior year and paid in the current year0.540 0.540 0.520 
Dividends paid per share of common stock$2.160 $2.160 $2.100 
Common Stock  
Class of Stock [Line Items]  
Schedule of Reconciliation of Dividends Declared to Dividends Paid
The unaudited income tax treatment for the dividends to common stockholders reportable for the years ended December 31, 2024, 2023, and 2022 as identified in the table above was as follows: 

Year Ended December 31,
Shares of Common Stock202420232022
Ordinary income (1)
$1.916 88.70 %$2.087 96.63 %$1.865 88.80 %
Qualified dividend0.001 0.05 %0.001 0.04 %0.001 0.02 %
Return of capital0.238 11.02 %0.069 3.21 %0.230 10.99 %
Capital gains (2)
0.005 0.23 %0.003 0.12 %0.004 0.19 %
Unrecaptured section 1250 gains— — %— — %— — %
$2.160 100.00 %$2.160 100.00 %$2.100 100.00 %
____________________
(1)The Tax Cuts and Jobs Act enacted on December 22, 2017 generally allows a deduction for noncorporate taxpayers equal to 20% of ordinary dividends distributed by a REIT (excluding capital gain dividends and qualified dividend income). The amount of dividend eligible for this deduction is referred to as the Section 199A Dividend.  For the year ended December 31, 2024, the Section 199A Dividend is equal to the total ordinary income dividend.
(2)Capital gains are comprised entirely of 20% rate gains.