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CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Total stockholders’ equity
Shares of common stock
Common stock and paid in capital
Distributions in excess of net income
Accumulated other comprehensive income
Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2021 0            
Beginning balance at Dec. 31, 2021 $ 0            
Ending balance (in shares) at Dec. 31, 2022 0            
Ending balance at Dec. 31, 2022 $ 0            
Beginning balance (in shares) at Dec. 31, 2021     591,262,000        
Beginning balance at Dec. 31, 2021 25,129,400 $ 25,052,574   $ 29,578,212 $ (4,530,571) $ 4,933 $ 76,826
Increase (Decrease) in Stockholders' Equity              
Net income 872,416 869,408     869,408   3,008
Other comprehensive income (loss) 41,900 41,900       41,900  
Distributions paid and payable (1,836,155) (1,832,030)     (1,832,030)   (4,125)
Share issuances, net of costs (in shares)     68,876,000        
Share issuances, net of costs 4,570,766 4,570,766   4,570,766      
Contributions by noncontrolling interests 51,221           51,221
Reallocation of equity 0 (3,210)   (3,210)     3,210
Share-based compensation, net (in shares)     162,000        
Share-based compensation, net 13,741 13,741   13,741      
Ending balance (in shares) at Dec. 31, 2022     660,300,000        
Ending balance at Dec. 31, 2022 $ 28,843,289 28,713,149   34,159,509 (5,493,193) 46,833 130,140
Ending balance (in shares) at Dec. 31, 2023 0            
Ending balance at Dec. 31, 2023 $ 0            
Increase (Decrease) in Stockholders' Equity              
Net income 876,914 872,309     872,309   4,605
Other comprehensive income (loss) 27,061 27,061       27,061  
Distributions paid and payable (2,150,592) (2,141,252)     (2,141,252)   (9,340)
Share issuances, net of costs (in shares)     91,902,000        
Share issuances, net of costs 5,450,982 5,450,982   5,450,982      
Contributions by noncontrolling interests 40,097           40,097
Share-based compensation, net (in shares)     258,000        
Share-based compensation, net $ 19,218 19,218   19,218      
Ending balance (in shares) at Dec. 31, 2023 752,460,000   752,460,000        
Ending balance at Dec. 31, 2023 $ 33,106,969 32,941,467   39,629,709 (6,762,136) 73,894 165,502
Increase (Decrease) in Temporary Equity              
Shares issued with merger (in shares) 6,900,000            
Shares issued with merger $ 167,394            
Preferred shares redeemed (in shares) (6,900,000)            
Preferred shares redeemed $ (167,394)            
Ending balance (in shares) at Dec. 31, 2024 0            
Ending balance at Dec. 31, 2024 $ 0            
Increase (Decrease) in Stockholders' Equity              
Net income 867,341 860,772     860,772   6,569
Other comprehensive income (loss) (35,665) (35,665)       (35,665)  
Distributions paid and payable (2,752,477) (2,742,079)     (2,742,079)   (10,398)
Share issuances, net of costs (in shares)     30,381,000        
Share issuances, net of costs 1,754,895 1,754,895   1,754,895      
Shares issued with merger (in shares)     108,308,000        
Shares issued with merger 6,043,641 6,043,641   6,043,641      
Contributions by noncontrolling interests 2,022           2,022
Issuance of common partnership units 46,485 (768)   (768)     47,253
Preferred shares redeemed (5,116) (5,116)     (5,116)    
Share-based compensation, net (in shares)     362,000        
Share-based compensation, net $ 23,591 23,591   23,591      
Ending balance (in shares) at Dec. 31, 2024 891,511,000   891,511,000        
Ending balance at Dec. 31, 2024 $ 39,051,686 $ 38,840,738   $ 47,451,068 $ (8,648,559) $ 38,229 $ 210,948