XML 103 R75.htm IDEA: XBRL DOCUMENT v3.21.2
Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Detail) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Segment Reporting Information [Line Items]            
Total revenues $ 1,183,049 $ 1,082,773 $ 3,482,207 $ 3,327,138    
Operating income 765,660 556,520 1,998,723 1,636,564    
General and administrative expenses 66,970 74,348 219,344 208,701    
Depreciation and amortization expenses 390,806 400,738 1,181,117 1,144,903    
Gains on dispositions of development properties and land, net 139,406 134,207 500,410 383,373    
Gains on other dispositions of investments in real estate, net 214,390 [1] 108,927 358,180 [1] 184,357    
Earnings from unconsolidated entities, net 91,818 73,972 231,286 216,844    
Interest expense (63,638) (80,711) (203,331) (237,651)    
Interest and other income (expense), net (846) (5,866) 4,615 (4,469)    
Foreign currency and derivative gains (losses), net 64,172 (100,974) 138,244 (48,481)    
Losses on early extinguishment of debt, net 0 (98,266) (187,453) (164,606)    
Earnings before income taxes 857,166 344,675 1,982,084 1,398,201    
Total assets 57,016,670   57,016,670   $ 56,065,005  
Investments in and advances to unconsolidated entities 7,652,323   7,652,323   7,602,014  
Assets held for sale or contribution 571,671   571,671   1,070,724 [2]  
Cash and cash equivalents 585,071 940,193 585,071 940,193 598,086 $ 1,088,855
Other assets 3,153,215   3,153,215   2,949,009  
Real Estate Operations [Member]            
Segment Reporting Information [Line Items]            
Total assets 47,664,919   47,664,919   46,390,991  
Operating Segments [Member]            
Segment Reporting Information [Line Items]            
Operating income 869,640 788,472 2,540,594 2,422,438    
Total assets 47,702,813   47,702,813   46,429,882  
Operating Segments [Member] | Real Estate Operations [Member]            
Segment Reporting Information [Line Items]            
Total revenues 1,041,601 983,780 3,091,411 2,810,896    
Operating income 780,581 735,270 2,296,736 2,080,106    
Operating Segments [Member] | Strategic Capital [Member]            
Segment Reporting Information [Line Items]            
Total revenues 141,448 98,993 390,796 516,242    
Operating income 89,059 53,202 243,858 342,332    
Total assets 37,894   37,894   38,891  
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]            
Segment Reporting Information [Line Items]            
Total revenues 992,583 933,916 2,939,364 2,660,178    
Operating income 746,710 699,255 2,190,308 1,976,985    
Total assets 43,812,656   43,812,656   42,559,023  
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]            
Segment Reporting Information [Line Items]            
Total revenues 60,319 29,322 130,172 320,181    
Operating income 31,397 5,184 55,051 222,390    
Total assets 12,302   12,302   13,257  
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]            
Segment Reporting Information [Line Items]            
Total revenues 24,791 21,132 74,179 66,947    
Operating income 18,341 15,288 55,165 48,561    
Total assets 1,218,015   1,218,015   1,145,699  
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]            
Segment Reporting Information [Line Items]            
Total revenues 10,679 8,851 40,817 27,558    
Operating income 7,518 6,276 32,072 17,803    
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]            
Segment Reporting Information [Line Items]            
Total revenues 11,912 19,558 44,140 53,048    
Operating income 6,089 14,207 26,754 33,017    
Total assets 1,495,595   1,495,595   1,604,393  
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]            
Segment Reporting Information [Line Items]            
Total revenues 45,325 36,959 136,589 101,081    
Operating income 34,088 26,775 102,537 66,483    
Total assets 25,280   25,280   25,280  
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]            
Segment Reporting Information [Line Items]            
Total revenues 12,315 9,174 33,728 30,723    
Operating income 9,441 6,520 24,509 21,543    
Total assets 1,138,653   1,138,653   1,081,876  
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]            
Segment Reporting Information [Line Items]            
Total revenues 25,125 23,861 83,218 67,422    
Operating income 16,056 14,967 54,198 35,656    
Total assets 312   312   354  
Reconciling Items [Member]            
Segment Reporting Information [Line Items]            
Operating income 765,660 556,520 1,998,723 1,636,564    
General and administrative expenses (66,970) (74,348) (219,344) (208,701)    
Depreciation and amortization expenses (390,806) (400,738) (1,181,117) (1,144,903)    
Gains on dispositions of development properties and land, net 139,406 134,207 500,410 383,373    
Gains on other dispositions of investments in real estate, net 214,390 108,927 358,180 184,357    
Earnings from unconsolidated entities, net 91,818 73,972 231,286 216,844    
Interest expense (63,638) (80,711) (203,331) (237,651)    
Interest and other income (expense), net (846) (5,866) 4,615 (4,469)    
Foreign currency and derivative gains (losses), net 64,172 (100,974) 138,244 (48,481)    
Losses on early extinguishment of debt, net 0 $ (98,266) (187,453) $ (164,606)    
Total assets 9,313,857   9,313,857   9,635,123  
Investments in and advances to unconsolidated entities 7,652,323   7,652,323   7,602,014  
Assets held for sale or contribution 571,671   571,671   1,070,724  
Cash and cash equivalents 585,071   585,071   598,086  
Other assets $ 504,792   $ 504,792   $ 364,299  
[1] During the three and nine months ended September 30, 2021, we sold our ownership interest in an unconsolidated other venture.
[2]

At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.