Equity (Tables)

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

The following summarizes the changes in equity for the nine months ended September 30, 2023 and 2022 (dollars in thousands):


	Common stock		Additional paid-in capital		Accumulated earnings less dividends		Accumulated other comprehensive income (loss)		Total stockholder's equity		Noncontrolling interests		Total equity

Balance at December 31, 2022	$	1,400	$	10,765,431	$	485,221	$	1,424	$	11,253,476	$	77	$	11,253,553
Net income attributable to common stockholders	—		—		146,902		—		146,902		—		146,902
Loss on cash flow hedges, net	—		—		—		(340)		(340)		—		(340)
Cash flow hedge losses reclassified to earnings	—		—		—		354		354		—		354
Change in redemption value of redeemable noncontrolling interest	—		—		(286)		—		(286)		—		(286)
Dividends declared to common stockholders ($1.65 per share)	—		—		(230,958)		—		(230,958)		—		(230,958)
Issuance of common stock, net of withholdings	1		(11,554)		1,590		—		(9,963)		—		(9,963)
Repurchase of common stock, including repurchase costs	—		(539)		(590)		—		(1,129)		—		(1,129)
Amortization of deferred compensation	—		11,123		—		—		11,123		—		11,123
Balance at March 31, 2023	$	1,401	$	10,764,461	$	401,879	$	1,438	$	11,169,179	$	77	$	11,169,256
Net income attributable to common stockholders	—		—		367,923		—		367,923		—		367,923
Gain on cash flow hedges, net	—		—		—		8,826		8,826		—		8,826
Cash flow hedge losses reclassified to earnings	—		—		—		354		354		—		354
Change in redemption value of redeemable noncontrolling interest	—		—		(367)		—		(367)		—		(367)
Dividends declared to common stockholders ($1.65 per share)	—		—		(234,774)		—		(234,774)		—		(234,774)
Issuance of common stock, net of withholdings	19		494,643		43		—		494,705		—		494,705
Repurchase of common stock, including repurchase costs	—		(369)		(413)		—		(782)		—		(782)
Amortization of deferred compensation	—		10,424		—		—		10,424		—		10,424
Balance at June 30, 2023	$	1,420	$	11,269,159	$	534,291	$	10,618	$	11,815,488	$	77	$	11,815,565
Net income attributable to common stockholders	—		—		172,031		—		172,031		—		172,031
Gain on cash flow hedges, net	—		—		—		15,502		15,502		—		15,502
Cash flow hedge losses reclassified to earnings	—		—		—		354		354		—		354
Change in redemption value of redeemable noncontrolling interest	—		—		(564)		—		(564)		—		(564)
Dividends declared to common stockholders ($1.65 per share)	—		—		(234,777)		—		(234,777)		—		(234,777)
Issuance of common stock, net of withholdings	—		(28)		(1)		—		(29)		—		(29)
Amortization of deferred compensation	—		9,519		—		—		9,519		—		9,519
Balance at September 30, 2023	$	1,420	$	11,278,650	$	470,980	$	26,474	$	11,777,524	$	77	$	11,777,601


	Common stock		Additional paid-in capital		Accumulated earnings less dividends		Accumulated other comprehensive income (loss)		Total stockholder's equity		Noncontrolling interests		Total equity

Balance at December 31, 2021	$	1,398	$	10,716,414	$	240,821	$	(26,106)	$	10,932,527	$	566	$	10,933,093
Net income attributable to common stockholders	—		—		262,044		—		262,044		—		262,044
Gain on cash flow hedges, net	—		—		—		10,155		10,155		—		10,155
Cash flow hedge losses reclassified to earnings	—		—		—		1,013		1,013		—		1,013
Change in redemption value of redeemable noncontrolling interest	—		—		(43)		—		(43)		—		(43)
Noncontrolling interest distribution and income allocation	—		—		—		—		—		(10)		(10)
Dividends declared to common stockholders ($1.59 per share)	—		—		(222,373)		—		(222,373)		—		(222,373)
Issuance of common stock, net of withholdings	1		(14,263)		(1,501)		—		(15,763)		—		(15,763)
Amortization of deferred compensation	—		9,176		—		—		9,176		—		9,176
Balance at March 31, 2022	$	1,399	$	10,711,327	$	278,948	$	(14,938)	$	10,976,736	$	556	$	10,977,292
Net income attributable to common stockholders	—		—		138,691		—		138,691		—		138,691
Gain on cash flow hedges, net	—		—		—		7,759		7,759		—		7,759
Cash flow hedge losses reclassified to earnings	—		—		—		1,013		1,013		—		1,013
Change in redemption value of redeemable noncontrolling interest	—		—		168		—		168		—		168
Noncontrolling interest distribution and income allocation	—		—		—		—		—		(6)		(6)
Dividends declared to common stockholders ($1.59 per share)	—		—		(222,772)		—		(222,772)		—		(222,772)
Issuance of common stock, net of withholdings	—		1,683		—		—		1,683		—		1,683
Amortization of deferred compensation	—		14,183		—		—		14,183		—		14,183
Balance at June 30, 2022	$	1,399	$	10,727,193	$	195,035	$	(6,166)	$	10,917,461	$	550	$	10,918,011
Net income attributable to common stockholders	—		—		494,747		—		494,747		—		494,747
Gain on cash flow hedges, net	—		—		—		8,188		8,188		—		8,188
Cash flow hedge losses reclassified to earnings	—		—		—		1,013		1,013		—		1,013
Change in redemption value of redeemable noncontrolling interest	—		—		(158)		—		(158)		—		(158)
Noncontrolling interest distribution and income allocation	—		—		—		—		—		1		1
Dividends declared to common stockholders ($1.59 per share)	—		—		(222,753)		—		(222,753)		—		(222,753)
Issuance of common stock, net of withholdings	—		(384)		17		—		(367)		—		(367)
Amortization of deferred compensation	—		11,906		—		—		11,906		—		11,906
Balance at September 30, 2022	$	1,399	$	10,738,715	$	466,888	$	3,035	$	11,210,037	$	551	$	11,210,588