Overview Financials News + Filings Key Docs Charts Transactions Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: | | | | | | | | |
| Rental | 4,913.2 | 4,148.0 | 3,791.1 | 2,831.8 | | | | |
| Strategic capital | 1,039.6 | 590.8 | 637.0 | 491.9 | 406.3 | 373.9 | 303.6 | 108.4 |
| Development management and other | 20.9 | 20.7 | 10.6 | 6.9 | 9.4 | 19.1 | 9.2 | |
| Total revenues | 5,973.7 | 4,759.4 | 4,438.7 | 3,330.6 | 2,804.4 | 2,618.1 | 2,533.1 | 2,197.1 |
| Total revenues growth | 25.5% | 7.2% | 33.3% | 18.8% | 7.1% | 3.4% | 15.3% | 24.8% |
| Expenses: | | | | | | | | |
| Rental | 1,205.7 | 1,041.3 | 952.1 | 734.3 | 600.6 | 569.5 | 568.9 | 544.2 |
| Strategic capital | 303.4 | 207.2 | 218.0 | 184.7 | 157.0 | 155.1 | 128.5 | |
| General and administrative | 331.1 | 293.2 | 274.8 | 266.7 | 239.0 | 231.1 | 222.1 | 217.2 |
| Depreciation and amortization | 1,812.8 | 1,577.9 | 1,562.0 | 1,139.9 | 947.2 | 879.1 | 931.0 | 880.4 |
| Other | 40.3 | 22.4 | 30.0 | 13.1 | 13.6 | 12.2 | 14.3 | 66.7 |
| Total expenses | 3,693.3 | 3,142.0 | 3,036.9 | 2,338.7 | 1,957.4 | 1,847.1 | | |
| Operating income before gains on real estate transactions, net | 2,280.4 | 1,617.4 | 1,401.8 | 991.9 | 847.0 | 771.1 | | |
| Gains on dispositions of development properties and land, net | 597.7 | 817.0 | 464.9 | 467.6 | 469.8 | 327.5 | | |
| Gains on other dispositions of investments in real estate, net | 589.4 | 772.6 | 252.2 | 390.2 | 371.2 | 855.4 | | |
| Operating income | 3,467.5 | 3,207.0 | 2,118.9 | 1,849.8 | 1,688.0 | 1,954.0 | 668.4 | 380.2 |
| Operating margin | 58.0% | 67.4% | 47.7% | 55.5% | 60.2% | 74.6% | 26.4% | 17.3% |
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| Other income (expense): | | | | | | | | |
| Earnings from unconsolidated entities, net | 310.9 | 404.3 | 297.4 | 200.2 | 298.3 | 248.6 | 206.3 | 159.3 |
| Interest expense | -309.0 | -266.2 | -314.5 | -240.0 | -229.1 | -274.5 | -303.1 | -301.4 |
| Foreign currency and derivative gains (losses) and other income (expense), net | 241.6 | 165.3 | -166.4 | | | | | |
| Losses on early extinguishment of debt, net | -20.2 | -187.5 | -188.3 | -16.1 | -2.6 | -68.4 | 2.5 | -86.3 |
| Total other income (expense) | 223.3 | 115.9 | -371.9 | -73.4 | 198.3 | -138.5 | 678.7 | 568.4 |
| Earnings before income taxes | 3,690.8 | 3,322.8 | 1,747.1 | 1,776.4 | 1,886.3 | 1,815.6 | 1,347.1 | 948.6 |
| Total income tax expense | -135.4 | -174.3 | -130.5 | -74.5 | -63.3 | -54.6 | -54.6 | -23.1 |
| Consolidated net earnings | 3,555.4 | 3,148.6 | 1,616.6 | 1,701.8 | 1,823.0 | 1,761.0 | 1,292.5 | 925.5 |
| Less net earnings attributable to noncontrolling interests | 190.5 | 208.9 | 134.8 | 128.9 | 173.6 | 108.6 | 82.6 | 56.1 |
| Net earnings attributable to controlling interests | 3,364.9 | 2,939.7 | 1,481.8 | 1,573.0 | 1,649.4 | 1,652.3 | 1,209.9 | 869.4 |
| Less preferred stock/unit dividends/distributions | 6.1 | 6.2 | 6.3 | 6.0 | 5.9 | 6.5 | 6.7 | 6.7 |
| Loss on preferred stock/unit repurchase | | | 2.3 | | | 3.9 | | |
| Net earnings attributable to common stockholders/unitholders | 3,358.8 | 2,933.6 | 1,473.1 | 1,567.0 | 1,643.4 | 1,641.9 | 1,203.2 | 862.8 |
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| Weighted average common shares/units outstanding - Basic | 785.7 | 739.4 | 728.3 | 630.6 | 567.4 | 530.4 | 526.1 | 521.2 |
| Weighted average common shares/units outstanding - Diluted | 811.6 | 764.8 | 754.4 | 654.9 | 590.2 | 552.3 | 546.7 | 533.9 |
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| Net earnings per share/unit attributable to common stockholders/unitholders - Basic | $4.28 | $3.97 | $2.02 | $2.48 | $2.90 | $3.10 | $2.29 | $1.66 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Diluted | $4.25 | $3.94 | $2.01 | $2.46 | $2.87 | $3.06 | $2.27 | $1.64 |
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