Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

Deferred leasing costs and acquired lease-related intangible assets at December 31, 2021 and 2020, excluding amounts classified as held-for-sale, were as follows (in thousands):


	2021		2020
Deferred leasing costs	$	376,597	$	359,646
Acquired lease-related intangible assets	171,314		174,241
	$	547,911	$	533,887

Accumulated amortization - deferred leasing costs	$	(122,789)	$	(120,756)
Accumulated amortization - acquired lease-related intangible assets	(87,186)		(83,366)
Total	$	337,936	$	329,765

Schedule of Future Amortized Expense and Charge to Rental Income

The expected future amortization, or charge to rental income, of acquired lease-related intangible assets is summarized in the table below (in thousands):


Year	Amortization Expense		Charge to Rental Income
2022	$	18,168	$	352
2023	15,271		353
2024	11,986		59
2025	9,789		—
2026	7,574		—
Thereafter	20,576		—
	$	83,364	$	764

Schedule of Earnings Per Share, Basic and Diluted

The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands):


	2021		2020		2019
General Partner
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972
Less: Dividends on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common shareholders	851,539		298,468		427,485
Add back dividends on dilutive participating securities	1,356		—		1,487
Noncontrolling interest in earnings of common unitholders	8,354		2,663		3,678
Diluted net income attributable to common shareholders	$	861,249	$	301,131	$	432,650
Weighted average number of common shares outstanding	377,673		370,057		362,234
Weighted average Limited Partner Units outstanding	3,708		3,303		3,118
Other potential dilutive shares	2,095		796		1,987
Weighted average number of common shares and potential dilutive securities	383,476		374,156		367,339

Partnership
Net income attributable to common unitholders	$	861,249	$	302,578	$	432,650
Less: Distributions on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common unitholders	$	859,893	$	301,131	$	431,163
Add back distributions on dilutive participating securities	1,356		—		1,487
Diluted net income attributable to common unitholders	$	861,249	$	301,131	$	432,650
Weighted average number of Common Units outstanding	381,381		373,360		365,352
Other potential dilutive units	2,095		796		1,987
Weighted average number of Common Units and potential dilutive securities	383,476		374,156		367,339

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands):


	2021	2020	2019
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	—	—	—
Anti-dilutive outstanding participating securities	—	1,621	—

Reconciliation of Net Income to Taxable Income Before Dividends Paid Deduction

The following table reconciles the General Partner's net income to taxable income before the dividends paid deduction, and subject to the 90% distribution requirement, for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	2021		2020		2019
Net income	$	861,618	$	302,760	$	432,644
Book/tax differences	(467,205)		63,838		(120,421)
Taxable income before the dividends paid deduction	394,413		366,598		312,223
Less: capital gains	(33,652)		(62,165)		(62,513)
Adjusted taxable income subject to the 90% distribution requirement	$	360,761	$	304,433	$	249,710

Computation of Dividends Paid Deduction

The General Partner's dividends paid deduction is summarized below (in thousands):


	2021		2020		2019
Cash dividends paid	$	394,487	$	355,287	$	318,702
Cash dividends declared and paid in subsequent year that apply to current year	26,886		22,960		6,521
Cash dividends declared and paid in current year that apply to previous year	(22,960)		(6,521)		(9,286)


Dividends paid deduction	398,413		371,726		315,937
Less: Capital gain distributions	(33,652)		(62,165)		(62,513)
Dividends paid deduction attributable to adjusted taxable income subject to the 90% distribution requirement	$	364,761	$	309,561	$	253,424

Summary of Tax Characterization of Dividends Paid

A summary of the designated tax characterization of the dividends paid by the General Partner for the years ended December 31, 2021, 2020 and 2019 is as follows:


	2021		2020		2019
Common Shares
Ordinary income	91.5	%	74.6	%	80.7	%

Capital gains	8.5	%	25.4	%	19.3	%
	100.0	%	100.0	%	100.0	%