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 12/31/2016 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 12/31/2016 USD

ASSETS

Real estate investments, at cost

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

LIABILITIES AND EQUITY

LIABILITIES

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

Commitments and contingencies

Series D preferred stock 269,299 NA NA NA

EQUITY

Preferred stock 422 428 428 428
Common stock 2,392 9,055 9,049 9,741
Additional paid­in­capital 2,940,907 11,920,253 11,931,768 12,640,171
Accumulated other comprehensive loss 7,666 2,728 (2,025) (2,556)
Accumulated deficit (877,957) (2,778,576) (3,415,233) (4,200,423)
Total stockholders' equity 2,073,430 9,153,888 8,523,987 8,447,361
Non­controlling interests 155,798 228,442 189,972 172,172
Total equity 2,229,228 9,382,330 8,713,959 8,619,533
Total liabilities and equity 7,809,083 20,427,136 17,405,866 15,587,574
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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