Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 6/30/2019 USD 2019 Q2 YTD 6/30/2019 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 6/30/2019 USD 2019 Q2 YTD 6/30/2019 USD

ASSETS

Real estate investments, at cost

Land 3,120,653 2,895,625 2,865,855 2,843,212 2,763,348
Buildings, fixtures and improvements 11,445,690 10,644,296 10,711,845 10,749,228 10,352,928
Intangible lease assets 2,218,378 2,044,521 2,037,675 2,012,399 1,927,699
Total real estate investments, at cost 16,784,721 15,584,442 15,615,375 15,604,839 15,043,975
Less - accumulated depreciation and amortization 1,778,597 2,331,643 2,908,028 3,436,772 3,488,838
Total real estate investments, net 15,006,124 13,252,799 12,707,347 12,168,067 11,555,137
Operating lease right-of-use assets NA NA NA 0 221,798
Investment in unconsolidated entities 56,824 46,077 39,520 35,289 68,633
Investment in direct financing leases, net 46,312 39,455 NA NA NA
Investment securities, at fair value 53,304 47,215 NA NA NA
Mortgage notes receivable, net 24,238 22,764 NA NA NA
Cash and cash equivalents 69,103 253,479 34,176 30,758 211,510
Restricted cash 59,767 45,018 27,662 22,905 20,692
Intangible assets, net 50,779 NA NA NA NA
Rent and tenant receivables and other assets, net 303,637 314,305 389,060 366,092 343,788
Goodwill 1,656,374 1,337,391 1,337,773 1,337,773 1,337,773
Due from affiliates, net 60,633 15,904 6,041 NA NA
Real estate assets held for sale, net 18,771 213,167 163,999 2,609 22,553
Total assets 17,405,866 15,587,574 14,705,578 13,963,493 13,781,884

LIABILITIES AND EQUITY

Liabilites

Mortgage notes payable, net 3,111,985 2,671,106 2,082,692 1,922,657 1,745,331
Corporate bonds, net 2,536,333 2,226,224 2,821,494 3,368,609 2,621,130
Convertible debt, net 962,894 973,340 984,258 394,883 396,766
Credit facility, net 1,448,590 496,578 185,000 401,773 895,033
Below-market lease liabilities, net 251,692 224,023 198,551 173,479 152,654
Accounts payable and accrued expenses 151,877 134,861 136,474 145,611 127,799
Deferred rent and other liabilities 87,490 67,971 62,985 69,714 77,713
Distributions payable 140,816 162,578 175,301 186,623 187,359
Due to affiliates 230 16 66 NA NA
Liabilities related to discontinued operations NA 11,344 15,881 NA NA
Operating lease liabilities NA NA NA 0 225,972
Total liabilities 8,691,907 6,968,041 6,662,702 6,663,349 6,429,757

Equity

Preferred stock 428 428 428 428 429
Common stock 9,049 9,741 9,742 9,675 9,734
Additional paid-in-capital 11,931,768 12,640,171 12,654,258 12,615,472 12,655,018
Accumulated other comprehensive loss (2,025) (2,556) (3,569) (1,280) (28,026)
Accumulated deficit (3,415,233) (4,200,423) (4,776,581) (5,467,236) (5,416,759)
Total stockholders' equity 8,523,987 8,447,361 7,884,278 7,157,059 7,220,396
Non-controlling interests 189,972 172,172 158,598 143,085 131,731
Total equity 8,713,959 8,619,533 8,042,876 7,300,144 7,352,127
Total liabilities and equity 17,405,866 15,587,574 14,705,578 13,963,493 13,781,884
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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