Supplemental Detail for Certain Components of Consolidated Balance Sheets (Tables)

3 Months Ended

Mar. 31, 2024

Disclosure Text Block Supplement [Abstract]

Schedule of Accounts Receivable, Net

A.	Accounts receivable, net, consist of the following at:	March 31, 2024		December 31, 2023
	Straight-line rent receivables, net	$	563,589	$	516,692
	Client receivables, net	225,655		193,844
		$	789,244	$	710,536

The following table presents information about our loans as of March 31, 2024 and December 31, 2023 (dollars in thousands):

	March 31, 2024
	Amortized Cost		Allowance (1)		Carrying Amount (2)
Senior Secured Notes Receivable (3)	$	182,121	$	(3,700)	$	178,421
Mortgage Loans	66,277		—		66,277
Unsecured Loan	9,763		(1,035)		8,728
Total	$	258,160	$	(4,735)	$	253,426
	December 31, 2023
	Amortized Cost		Allowance (1)		Carrying Amount (2)
Senior Secured Note Receivable	$	174,337	$	(2,498)	$	171,839
Mortgage Loan	33,500		—		33,500
Total	$	207,837	$	(2,498)	$	205,339

(1) During the three months ended March 31, 2024, our allowance for credit losses increased by $2.2 million, almost entirely attributable to the loans we acquired in conjunction with our merger with Spirit.

(2) The total carrying amount of the investment in loans excludes accrued interest of $8.7 million and $3.4 million as of March 31, 2024 and December 31, 2023, respectively, which is recorded to 'Other assets, net' on our consolidated balance sheets.

(3) Includes a loan acquired in conjunction with our merger with Spirit with an estimated acquisition date fair value of $7.8 million. Since it was a purchased credit deteriorated loan, we recorded the initial expected credit loss of $1.0 million by adjusting the amortized cost basis.

Schedule of Lease Intangible Assets, Net

B.	Lease intangible assets, net, consist of the following at:	March 31, 2024		December 31, 2023
	In-place leases	$	7,319,435	$	5,500,404
	Above-market leases	2,215,208		1,811,400
	Accumulated amortization of in-place leases	(1,902,925)		(1,746,377)
	Accumulated amortization of above-market leases	(596,148)		(549,319)
	Other items	1,758		1,799
		$	7,037,328	$	5,017,907

Schedule of Other Assets, Net

C.	Other assets, net, consist of the following at:	March 31, 2024		December 31, 2023
	Financing receivables, net	$	1,566,714	$	1,570,943
	Right of use asset - financing leases	705,006		706,837
	Right of use asset - operating leases, net	649,936		594,712
	Loan receivable, net	253,426		205,339
	Value-added tax receivable	82,619		100,672
	Prepaid expenses	62,806		33,252
	Derivative assets and receivables – at fair value	52,492		21,170
	Corporate assets, net	13,378		12,948
	Interest receivable	11,046		6,139
	Credit facility origination costs, net	11,030		12,264
	Impounds related to mortgages payable	10,226		53,005
	Restricted escrow deposits	6,401		6,247
	Investment in sales type lease	6,076		6,056
	Non-refundable escrow deposits	—		200
	Other items	47,432		38,859
		$	3,478,588	$	3,368,643

Schedule of Account Payable and Accrued Expenses

D.	Accounts payable and accrued expenses consist of the following at:	March 31, 2024		December 31, 2023
	Notes payable - interest payable	$	239,333	$	218,811
	Derivative liabilities and payables - at fair value	105,809		119,620
	Value-added tax payable	91,844		64,885
	Accrued costs on properties under development	86,276		65,967
	Property taxes payable	82,442		78,809
	Accrued property expenses	52,464		54,208
	Accrued income taxes	51,516		61,070
	Accrued merger-related costs	24,088		4,551
	Mortgages, term loans, and credit line - interest payable	8,575		8,580
	Other items	60,305		62,025
		$	802,652	$	738,526

Schedule of Lease Intangible Liabilities, Net

E.	Lease intangible liabilities, net, consist of the following at:	March 31, 2024		December 31, 2023
	Below-market leases	$	2,099,389	$	1,728,027
	Accumulated amortization of below-market leases	(359,189)		(321,174)
		$	1,740,200	$	1,406,853

Schedule of Other Liabilities

F.	Other liabilities consist of the following at:	March 31, 2024		December 31, 2023
	Lease liability - operating leases, net	$	480,303	$	425,213
	Rent received in advance and other deferred revenue	328,572		312,195
	Lease liability - financing leases	55,590		44,345
	Security deposits	34,031		28,250
	Other acquisition liabilities	1,610		1,647
		$	900,106	$	811,650