Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2012 Y 12/31/2013 USD 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 9/30/2016 USD 2016 Q3 YTD 9/30/2016 USD
Source Document Currency Code 2012 Y 12/31/2013 USD 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 9/30/2016 USD 2016 Q3 YTD 9/30/2016 USD

ASSETS

Real estate investments, at cost

Land 262,906 1,380,308 3,472,298 3,120,653 2,946,105
Buildings, fixtures and improvements 1,391,209 5,297,400 12,307,758 11,445,690 10,800,316
Land and construction in progress 0 21,839 77,450 NA NA
Intangible lease assets 221,500 759,595 2,435,054 2,218,378 2,073,076
Total real estate investments, at cost 1,875,615 7,459,142 18,292,560 16,784,721 15,819,497
Less - accumulated depreciation and amortization (56,524) (267,278) 1,034,122 1,778,597 2,188,998
Total real estate investments, net 1,819,091 7,191,864 17,258,438 15,006,124 13,630,499
Investment in unconsolidated entities NA 0 98,053 56,824 24,711
Investment in direct financing leases, net 0 66,112 56,076 46,312 40,785
Investment securities, at fair value 41,654 62,067 58,646 53,304 48,098
Mortgage notes receivable, net 0 26,279 42,106 24,238 23,014
Derivative assets, at fair value 0 NA NA NA NA
Cash and cash equivalents 292,575 52,725 416,711 69,103 116,618
Restricted cash 1,108 35,921 62,651 59,767 61,828
Prepaid expenses and other assets, net 11,984 NA NA NA NA
Intangible assets, net NA 0 150,359 50,779 30,849
Rent and tenant receivables and other assets, net 15,118 280,661 301,919 303,637 339,529
Goodwill 0 92,789 1,894,794 1,656,374 1,602,610
Due from affiliates NA 0 86,122 60,633 20,883
Real estate assets held for sale, net 665 665 1,261 18,771 118,396
Total assets 2,182,195 7,809,083 20,427,136 17,405,866 16,057,820

LIABILITIES AND STOCKHOLDERS' EQUITY

Mortgage notes payable and other debt, net 265,118 1,301,114 3,773,922 3,111,985 2,861,210
Corporate bonds, net NA 0 2,531,081 2,536,333 2,225,157
Convertible debt, net 0 972,490 952,856 962,894 970,691
Senior secured revolving credit facility 124,604 NA NA NA NA
Senior corporate credit facilities 0 NA NA NA NA
Credit facility, net 0 1,969,800 3,167,919 1,448,590 496,008
Other debt, net 0 104,804 NA NA NA
Below-market lease liabilities, net 0 77,169 317,838 251,692 229,340
Derivative liabilities, at fair value 3,830 NA NA NA NA
Accounts payable and accrued expenses 102,740 730,571 163,025 151,877 139,150
Deferred rent, derivative and other liabilities 4,516 40,271 127,611 87,490 89,154
Distributions payable 11,105 10,903 9,995 140,816 159,415
Due to affiliates 1,522 103,434 559 230 0
Total liabilities 513,435 5,310,556 11,044,806 8,691,907 7,170,125

Commitments and contingencies

Series D preferred stock 0 269,299 NA NA NA
Preferred stock 70 422 428 428 428
Common stock 1,846 2,392 9,055 9,049 9,742
Additional paid-in-capital 1,778,883 2,940,907 11,920,253 11,931,768 12,637,049
Accumulated other comprehensive loss (3,934) 7,666 2,728 (2,025) (4,687)
Accumulated deficit (124,286) (877,957) (2,778,576) (3,415,233) (3,933,092)
Total stockholders' equity 1,652,579 2,073,430 9,153,888 8,523,987 8,709,440
Non-controlling interests 16,181 155,798 228,442 189,972 178,255
Total equity 1,668,760 2,229,228 9,382,330 8,713,959 8,887,695
Total liabilities and equity 2,182,195 7,809,083 20,427,136 17,405,866 16,057,820
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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