Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 6/30/2018 USD 2018 Q2 YTD 6/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 6/30/2018 USD 2018 Q2 YTD 6/30/2018 USD

ASSETS

Real estate investments, at cost

Land 3,472,298 3,120,653 2,895,625 2,865,855 2,859,265
Buildings, fixtures and improvements 12,307,758 11,445,690 10,644,296 10,711,845 10,714,456
Land and construction in progress 77,450 NA NA NA NA
Intangible lease assets 2,435,054 2,218,378 2,044,521 2,037,675 2,024,014
Total real estate investments, at cost 18,292,560 16,784,721 15,584,442 15,615,375 15,597,735
Less - accumulated depreciation and amortization 1,034,122 1,778,597 2,331,643 2,908,028 3,206,336
Total real estate investments, net 17,258,438 15,006,124 13,252,799 12,707,347 12,391,399
Investment in unconsolidated entities 98,053 56,824 46,077 39,520 33,972
Investment in direct financing leases, net 56,076 46,312 39,455 19,539 16,560
Investment securities, at fair value 58,646 53,304 47,215 40,974 35,489
Mortgage notes receivable, net 42,106 24,238 22,764 20,294 19,855
Cash and cash equivalents 416,711 69,103 253,479 34,176 18,434
Restricted cash 62,651 59,767 45,018 27,662 27,078
Intangible assets, net 150,359 50,779 NA NA NA
Rent and tenant receivables and other assets, net 301,919 303,637 314,305 308,253 351,163
Goodwill 1,894,794 1,656,374 1,337,391 1,337,773 1,337,773
Due from affiliates, net 86,122 60,633 15,904 6,041 0
Assets related to real estate assets held for sale and discontinued operations, net 1,261 18,771 213,167 163,999 29,884
Total assets 20,427,136 17,405,866 15,587,574 14,705,578 14,261,607

LIABILITIES AND EQUITY

LIABILITIES

Mortgage notes payable, net 3,773,922 3,111,985 2,671,106 2,082,692 2,031,171
Corporate bonds, net 2,531,081 2,536,333 2,226,224 2,821,494 2,824,176
Convertible debt, net 952,856 962,894 973,340 984,258 989,901
Credit facility, net 3,167,919 1,448,590 496,578 185,000 195,000
Below-market lease liabilities, net 317,838 251,692 224,023 198,551 187,352
Accounts payable and accrued expenses 163,025 151,877 134,861 136,474 141,746
Deferred rent and other liabilities 127,611 87,490 67,971 62,985 66,123
Distributions payable 9,995 140,816 162,578 175,301 180,734
Due to affiliates 559 230 16 66 0
Liabilities related to discontinued operations NA NA 11,344 15,881 0
Total liabilities 11,044,806 8,691,907 6,968,041 6,662,702 6,616,203

EQUITY

Preferred stock 428 428 428 428 428
Common stock 9,055 9,049 9,741 9,742 9,674
Additional paid-in-capital 11,920,253 11,931,768 12,640,171 12,654,258 12,609,145
Accumulated other comprehensive loss 2,728 (2,025) (2,556) (3,569) (4,290)
Accumulated deficit (2,778,576) (3,415,233) (4,200,423) (4,776,581) (5,120,240)
Total stockholders' equity 9,153,888 8,523,987 8,447,361 7,884,278 7,494,717
Non-controlling interests 228,442 189,972 172,172 158,598 150,687
Total equity 9,382,330 8,713,959 8,619,533 8,042,876 7,645,404
Total liabilities and equity 20,427,136 17,405,866 15,587,574 14,705,578 14,261,607
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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