Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 9/30/2017 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 9/30/2017 USD 2017 Q3 YTD 9/30/2017 USD

ASSETS

Real estate investments, at cost

Land 1,380,308 3,472,298 3,120,653 2,895,625 2,866,305
Buildings, fixtures and improvements 5,297,400 12,307,758 11,445,690 10,644,296 10,585,796
Land and construction in progress 21,839 77,450 NA NA NA
Intangible lease assets 759,595 2,435,054 2,218,378 2,044,521 2,027,304
Total real estate investments, at cost 7,459,142 18,292,560 16,784,721 15,584,442 15,479,405
Less - accumulated depreciation and amortization (267,278) 1,034,122 1,778,597 2,331,643 2,784,481
Total real estate investments, net 7,191,864 17,258,438 15,006,124 13,252,799 12,694,924
Investment in unconsolidated entities 0 98,053 56,824 46,077 44,101
Investment in direct financing leases, net 66,112 56,076 46,312 39,455 33,402
Investment securities, at fair value 62,067 58,646 53,304 47,215 41,677
Mortgage notes receivable, net 26,279 42,106 24,238 22,764 20,510
Cash and cash equivalents 52,725 416,711 69,103 256,452 54,363
Restricted cash 35,921 62,651 59,767 45,018 27,797
Intangible assets, net 0 150,359 50,779 24,609 12,173
Rent and tenant receivables and other assets, net 280,661 301,919 303,637 330,705 336,938
Goodwill 92,789 1,894,794 1,656,374 1,462,203 1,462,585
Due from affiliates, net 0 86,122 60,633 21,349 6,638
Real estate assets held for sale, net 665 1,261 18,771 38,928 1,625
Total assets 7,809,083 20,427,136 17,405,866 15,587,574 14,736,733

LIABILITIES AND EQUITY

Mortgage notes payable and other debt, net 1,301,114 3,773,922 3,111,985 2,671,106 2,115,633
Corporate bonds, net 0 2,531,081 2,536,333 2,226,224 2,820,164
Convertible debt, net 972,490 952,856 962,894 973,340 981,490
Credit facility, net 1,969,800 3,167,919 1,448,590 496,578 0
Other debt, net 104,804 NA NA NA NA
Below-market lease liabilities, net 77,169 317,838 251,692 224,023 204,051
Accounts payable and accrued expenses 730,571 163,025 151,877 146,137 152,413
Deferred rent, derivative and other liabilities 40,271 127,611 87,490 68,039 63,876
Distributions payable 10,903 9,995 140,816 162,578 172,129
Due to affiliates 103,434 559 230 16 8
Total liabilities 5,310,556 11,044,806 8,691,907 6,968,041 6,509,764

Commitments and contingencies

Series D preferred stock 269,299 NA NA NA NA
Preferred stock 422 428 428 428 428
Common stock 2,392 9,055 9,049 9,741 9,742
Additional paid-in-capital 2,940,907 11,920,253 11,931,768 12,640,171 12,648,967
Accumulated other comprehensive loss 7,666 2,728 (2,025) (2,556) (3,330)
Accumulated deficit (877,957) (2,778,576) (3,415,233) (4,200,423) (4,592,533)
Total stockholders' equity 2,073,430 9,153,888 8,523,987 8,447,361 8,063,274
Non-controlling interests 155,798 228,442 189,972 172,172 163,695
Total equity 2,229,228 9,382,330 8,713,959 8,619,533 8,226,969
Total liabilities and equity 7,809,083 20,427,136 17,405,866 15,587,574 14,736,733
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
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