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Business Segments - Reportable Business Segment Revenues, Net Operating Income and Assets (Detail) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]          
Total revenues $ 2,007,954 $ 2,450,971 $ 3,964,575 $ 4,219,558  
Operating income 1,023,338 1,411,790 1,743,693 1,990,833  
General and administrative expenses (106,596) (95,647) (217,887) (195,424)  
Depreciation and amortization expenses (637,305) (602,168) (1,274,810) (1,204,535)  
Gains on dispositions of development properties and land, net 87,174 184,877 127,482 184,877  
Gains on other dispositions of investments in real estate, net [1] 199,326 24,761 216,860 28,808  
Earnings from unconsolidated entities, net 102,337 70,642 174,809 146,421  
Interest expense (208,267) (149,818) (401,587) (285,829)  
Gains on early extinguishment of debt, net 0 0 536 3,275  
Earnings before income taxes 954,560 1,358,718 1,618,167 1,889,418  
Total assets 93,537,418   93,537,418   $ 93,020,840
Investments in and advances to unconsolidated entities 9,764,870   9,764,870   9,543,970
Assets held for sale or contribution 515,895   515,895   461,657
Cash and cash equivalents 598,347   598,347   530,388
Other assets 4,793,551   4,793,551   4,749,735
Operating Segments [Member]          
Segment Reporting Information [Line Items]          
Operating income [2] 1,480,739 1,899,967 2,892,048 3,177,107  
Total assets [3] 81,985,960   81,985,960   81,859,441
Operating Segments [Member] | Real Estate Operations [Member]          
Segment Reporting Information [Line Items]          
Total revenues 1,853,212 1,651,936 3,681,421 3,285,822  
Operating income [2] 1,396,533 1,251,838 2,758,241 2,465,986  
Total assets 81,950,012   81,950,012   81,823,459
Operating Segments [Member] | Strategic Capital [Member]          
Segment Reporting Information [Line Items]          
Total revenues 154,742 799,035 283,154 933,736  
Operating income [2] 84,206 648,129 133,807 711,121  
Total assets [3] 35,948   35,948   35,982
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]          
Segment Reporting Information [Line Items]          
Total revenues 1,781,805 1,586,285 3,539,176 3,160,852  
Operating income [2],[4] 1,346,001 1,204,741 2,658,622 2,376,724  
Total assets 76,560,563   76,560,563   76,633,566
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]          
Segment Reporting Information [Line Items]          
Total revenues 45,026 679,449 91,129 733,145  
Operating income [2],[4] 10,304 594,933 15,450 616,500  
Total assets [3] 10,499   10,499   10,499
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]          
Segment Reporting Information [Line Items]          
Total revenues 31,159 26,562 60,882 52,134  
Operating income [2] 24,363 20,067 47,256 39,245  
Total assets 2,229,612   2,229,612   2,029,438
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]          
Segment Reporting Information [Line Items]          
Total revenues 41,158 45,890 57,443 60,085  
Operating income [2] 34,459 37,873 44,422 46,815  
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]          
Segment Reporting Information [Line Items]          
Total revenues [2] 25,695 21,111 54,428 40,267  
Operating income [2] 16,755 15,048 35,529 29,258  
Total assets [3] 2,401,114   2,401,114   2,366,539
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]          
Segment Reporting Information [Line Items]          
Total revenues [2] 47,102 46,277 91,902 89,810  
Operating income 27,025 3,497 50,117 26,101  
Total assets 25,280   25,280   25,280
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]          
Segment Reporting Information [Line Items]          
Total revenues 14,553 17,978 26,935 32,569  
Operating income [2] 9,414 11,982 16,834 20,759  
Total assets 758,723   758,723   793,916
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]          
Segment Reporting Information [Line Items]          
Total revenues [2] 21,456 27,419 42,680 50,696  
Operating income 12,418 11,826 23,818 21,705  
Total assets [3] 169   169   203
Non Segment Items [Member]          
Segment Reporting Information [Line Items]          
Operating income 1,023,338 1,411,790 1,743,693 1,990,833  
General and administrative expenses (106,596) (95,647) (217,887) (195,424)  
Depreciation and amortization expenses (637,305) (602,168) (1,274,810) (1,204,535)  
Gains on dispositions of development properties and land, net 87,174 184,877 127,482 184,877  
Gains on other dispositions of investments in real estate, net 199,326 24,761 216,860 28,808  
Earnings from unconsolidated entities, net 102,337 70,642 174,809 146,421  
Interest expense (208,267) (149,818) (401,587) (285,829)  
Foreign currency, derivative and other gains and other income, net 37,152 26,104 100,716 34,718  
Gains on early extinguishment of debt, net 0 0 536 3,275  
Earnings before income taxes 954,560 $ 1,358,718 1,618,167 $ 1,889,418  
Total assets 11,551,458   11,551,458   11,161,399
Investments in and advances to unconsolidated entities 9,764,870   9,764,870   9,543,970
Assets held for sale or contribution 515,895   515,895   461,657
Cash and cash equivalents 598,347   598,347   530,388
Other assets $ 672,346   $ 672,346   $ 625,384
[1] During the three and six months ended June 30, 2023, we sold our ownership interest in an unconsolidated office joint venture.
[2] Net Operating Income ("NOI") from the Real Estate Segment is calculated directly from the Consolidated Financial Statements as Rental Revenues and Development Management and Other Revenues less Rental Expenses and Other Expenses. NOI from the Strategic Capital Segment is calculated directly from the Consolidated Financial Statements as Strategic Capital Revenues less Strategic Capital Expenses.
[3] Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital Segment. Goodwill was $25.3 million at June 30, 2024 and December 31, 2023.
[4] This includes compensation and personnel costs for employees who were located in the U.S. but also support other geographies.