7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-03-31 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-12-31 2011-09-30 
      
    		                                                    
      operating activities:
    		                                                    
      consolidated net earnings
    		821,260,000 622,304,000 639,520,000 1,342,176,000 1,063,451,000 911,501,000 630,807,000 675,884,000 799,141,000 1,279,491,000 498,629,000 620,066,000 1,069,174,000 646,436,000 1,219,722,000 1,300,853,000 797,731,000 650,313,000 399,693,000 308,007,000 332,521,000 454,938,000 521,164,000 426,242,000 491,013,000 410,826,000 373,765,000 690,490,000 375,520,000 364,991,000 391,959,000 338,873,000 913,417,000 287,980,000 220,689,000 222,805,000 140,260,000 351,312,000 427,724,000 147,127,000 152,430,000 12,003,000 68,269,000 -7,167,000 -4,985,000 296,932,000  -32,898,000 4,669,000 213,097,000   
      adjustments to reconcile net earnings to net cash from operating activities:
    		                                                    
      straight-lined rents and amortization of above and below market leases
    		-162,529,000 -187,801,000 -180,361,000 -174,317,000 -166,980,000 -144,349,000 -158,960,000 -146,319,000 -173,887,000 -149,113,000 -143,686,000 -160,144,000 -34,899,000 -35,292,000 -37,374,000 -39,196,000 -36,133,000 -36,252,000 -36,658,000 -37,691,000 -35,726,000 -29,173,000 -23,738,000 -21,269,000 -25,232,000 -24,013,000 -27,912,000 -21,566,000 -19,003,000 -11,309,000 -15,060,000 -14,787,000 -17,314,000 -23,423,000 -25,497,000 -20,283,000                 
      equity-based compensation awards
    		44,509,000 43,984,000 53,161,000 67,445,000 42,520,000 54,545,000 67,237,000 57,626,000 57,248,000 89,868,000 62,906,000 35,334,000 61,670,000 36,923,000 41,429,000 28,612,000 25,895,000 23,946,000 34,575,000 23,471,000 26,554,000 27,998,000 31,808,000 25,090,000 20,523,000 20,186,000 31,758,000 18,064,000 18,947,000 19,086,000 19,996,000 18,549,000 20,487,000 19,224,000 18,380,000 12,465,000 13,484,000 13,234,000               
      depreciation and amortization
    		647,999,000 657,221,000 652,058,000 656,444,000 649,265,000 637,305,000 637,505,000 638,346,000 642,010,000 602,168,000 602,367,000 612,367,000 401,450,000 402,313,000 396,647,000 396,825,000 390,806,000 392,736,000 397,575,000 417,066,000 400,738,000 398,195,000 345,970,000 289,240,000 282,254,000 284,376,000 284,009,000 286,758,000 252,702,000 203,673,000 204,081,000 222,501,000 201,903,000 228,145,000 226,591,000 250,000,000 190,188,000 169,808,000 171,402,000 149,202,000 161,577,000 160,280,000 167,922,000 159,242,000 159,412,000 177,431,000 189,561,000 198,296,000 187,777,000 191,825,000 198,304,000 199,361,000 
      earnings from unconsolidated entities
    		-92,827,000 -107,692,000 -67,899,000 -94,065,000 -84,749,000 -102,337,000 -72,472,000 -89,441,000 -71,365,000 -70,642,000 -75,779,000 -69,391,000 -84,925,000 -79,594,000 -76,962,000 -172,969,000 -91,818,000 -72,419,000 -67,049,000 -80,526,000 -73,972,000 -54,142,000 -88,730,000 -48,654,000 -46,302,000 -48,556,000 -56,666,000 -116,421,000 -56,634,000 -62,549,000 -62,656,000 -76,300,000 -55,066,000 -68,596,000 -48,605,000 -58,311,000 -41,784,000 -31,042,000 -54,877,000 -28,514,000 -21,151,000 -29,746,000 -37,666,000 -26,365,000 -8,421,000 -24,768,000 -11,229,000 -2,563,000     
      operating distributions from unconsolidated entities
    		162,366,000 153,369,000 138,947,000 145,179,000 161,496,000 129,147,000 126,653,000 144,088,000 300,448,000 100,575,000 135,081,000 94,184,000 124,089,000 96,545,000 95,665,000 128,750,000 114,533,000 80,794,000 115,957,000 95,227,000 172,656,000 76,007,000 106,732,000 76,525,000 90,079,000 83,512,000 96,401,000 99,114,000 74,803,000 90,731,000 85,229,000                      
      decrease (increase) in operating receivables from unconsolidated entities
    		3,380,000 -11,852,000 16,638,000 -17,237,000 15,535,000      51,164,000 416,641,000 -445,637,000 -34,132,000 -819,000     -57,309,000 248,918,000   111,319,000   49,488,000 -45,823,000 -656,000 73,812,000 -67,223,000                      
      amortization of debt discounts and debt issuance costs
    		21,693,000 21,922,000 20,835,000 20,439,000 20,334,000 20,068,000 18,044,000 19,063,000 19,771,000 18,132,000 17,623,000 16,861,000 2,600,000 2,295,000 1,980,000 2,024,000 2,464,000 2,077,000 2,091,000 2,291,000 2,103,000 2,290,000 1,175,000 4,364,000                             
      gains on dispositions of development properties and land
    		-15,435,000 -10,477,000 -27,451,000 -254,256,000 -32,005,000 -87,174,000 -40,308,000 -188,363,000 -89,030,000   -207,059,000 -74,678,000 -105,802,000 -210,206,000 -316,607,000 -139,406,000 -187,361,000 -173,643,000 -81,569,000 -134,207,000 -86,416,000 -162,750,000                              
      gains on other dispositions of investments in real estate
    		-32,235,000 -47,044,000 -36,799,000 -252,830,000 -434,446,000 -199,326,000 -17,534,000 -2,647,000 -129,584,000 -24,761,000 -4,047,000 -3,537,000 -1,019,000 0 -584,835,000 -414,390,000 -214,390,000 -127,167,000 -16,623,000 -67,838,000 -108,927,000 -43,939,000 -31,491,000                              
      unrealized foreign currency and derivative losses (gains)
    		-37,985,000 137,868,000 55,465,000 -128,523,000 99,133,000 -2,899,000 -35,046,000   1,910,000 10,113,000     -22,583,000    102,094,000       -7,158,000 -47,238,000 -20,525,000             27,828,000 31,619,000   -1,955,000 -666,000   24,243,000   
      losses (gains) on early extinguishment of debt
    		       0 0 0 -3,275,000                     37,783,000 0     16,289,000    -273,000 112,859,000 114,196,000 32,608,000 17,351,000       
      deferred income tax expense
    		-5,312,000 -4,318,000 6,682,000 18,960,000 -8,304,000 10,171,000 334,000 7,872,000 4,541,000 1,718,000 3,577,000 -11,076,000 6,157,000 10,065,000 7,492,000 -8,727,000 -3,809,000 12,696,000 1,162,000 7,308,000 -7,395,000 -2,162,000 2,993,000 2,452,000 534,000 8,442,000 793,000   870,000 -2,064,000   -171,000 2,439,000 -619,000 145,000 1,052,000    1,032,000    -3,640,000  -1,884,000 -9,920,000 1,051,000  1,773,000 
      decrease (increase) in other assets
    		-87,258,000 -63,246,000 22,982,000 -131,713,000 -156,649,000 -41,470,000 -11,782,000                                              
      increase in accounts payable and accrued expenses and other liabilities
    		180,102,000 37,479,000 -133,025,000 137,749,000 266,244,000   17,719,000 173,147,000   -722,000    -29,414,000            12,933,000    -12,467,000                80,614,000 -21,316,000 -39,372,000  -85,564,000 
      net cash from operating activities
    		1,447,728,000 1,241,717,000 1,160,753,000 1,335,451,000 1,434,845,000 1,086,453,000 1,055,460,000 1,074,422,000 1,969,201,000 1,215,138,000 1,114,297,000 1,277,617,000 1,203,336,000 803,950,000 841,527,000 716,066,000 814,073,000 649,209,000 816,694,000 603,670,000 977,986,000 676,256,000 679,093,000 616,374,000 644,139,000 508,607,000 494,914,000 529,641,000 500,694,000 423,983,000 349,241,000 326,933,000 615,153,000 392,366,000 352,794,000 266,270,000 274,357,000 81,532,000 253,744,000 144,921,000 233,623,000 72,243,000 152,741,000 128,680,000 74,428,000 129,140,000 90,144,000 213,243,000 88,670,000 71,435,000 102,117,000 122,174,000 
      investing activities:
    		                                                    
      real estate development
    		-627,446,000 -555,084,000 -776,184,000 -829,341,000 -821,738,000 -835,357,000 -719,795,000  -796,032,000 -774,711,000 -936,921,000 -886,558,000 -769,811,000 -822,374,000 -639,636,000 -869,519,000 -773,025,000 -574,929,000 -422,399,000 -419,129,000 -523,487,000 -534,558,000 -443,044,000 -523,481,000 -516,068,000 -386,992,000 -368,596,000 -620,221,000 -544,319,000 -422,767,000 -365,837,000 -510,510,000 -380,329,000 -394,308,000 -320,986,000                  
      free cash flows
    		820,282,000 686,633,000 384,569,000 506,110,000 613,107,000 251,096,000 335,665,000  1,173,169,000 440,427,000 177,376,000 391,059,000 433,525,000 -18,424,000 201,891,000 -153,453,000 41,048,000 74,280,000 394,295,000 184,541,000 454,499,000 141,698,000 236,049,000 92,893,000 128,071,000 121,615,000 126,318,000 -90,580,000 -43,625,000 1,216,000 -16,596,000 -183,577,000 234,824,000 -1,942,000 31,808,000                  
      real estate acquisitions
    		-92,751,000 -374,002,000 -779,664,000 -507,297,000 -1,294,748,000 -399,383,000 -126,177,000 -546,794,000 -199,837,000 -3,397,217,000 -51,866,000 -259,754,000 -362,928,000 -1,418,083,000 -451,343,000 -1,123,454,000 -366,420,000 -604,124,000 -226,450,000 -538,241,000 -140,375,000 -121,359,000 -439,059,000 -345,207,000 -192,040,000 -194,268,000 -274,528,000 -490,476,000 -219,624,000 -176,410,000 -112,621,000 -147,518,000 -93,090,000 -69,730,000 -132,358,000 -67,346,000 -224,712,000 -68,844,000 -222,512,000 -207,566,000 -104,945,000 -77,307,000    -55,907,000 -80,922,000 -98,669,000     
      tenant improvements and lease commissions on previously leased space
    		-138,212,000 -152,242,000 -123,123,000 -152,439,000 -131,782,000 -111,400,000 -104,306,000 -117,803,000 -102,957,000 -89,099,000 -78,955,000 -77,057,000 -86,697,000 -90,456,000 -85,024,000 -95,206,000 -85,816,000 -76,897,000 -71,140,000 -79,323,000 -57,284,000 -45,488,000 -39,396,000 -50,861,000 -47,444,000 -40,631,000 -40,338,000 -43,674,000 -31,852,000 -31,315,000 -28,027,000 -40,813,000 -37,100,000 -35,064,000 -40,278,000 -41,569,000 -34,577,000 -30,800,000 -38,145,000    -40,100,000 -34,646,000 -40,728,000 -29,950,000 -41,638,000 -31,098,000 -30,496,000 -30,326,000 -32,642,000 -27,529,000 
      property improvements
    		-109,397,000 -68,772,000 -34,367,000 -137,613,000 -122,556,000 -96,112,000 -30,200,000 -146,522,000 -82,720,000 -54,498,000 -19,302,000 -93,795,000 -61,747,000 -37,536,000 -18,280,000 -71,059,000 -57,745,000 -33,058,000 -8,071,000 -58,136,000 -39,899,000 -37,817,000 -13,639,000 -53,897,000 -47,117,000 -28,403,000 -13,612,000 -30,600,000 -29,184,000 -22,833,000 -10,456,000                      
      proceeds from dispositions and contributions of real estate
    		84,549,000 99,382,000 157,013,000 2,001,464,000 738,426,000 850,960,000 199,538,000 453,880,000 535,817,000 719,722,000 54,903,000 341,630,000 68,396,000 158,337,000 1,495,260,000 1,404,347,000                                     
      investments in and advances to unconsolidated entities
    		-18,057,000 -5,248,000 -27,352,000 -60,662,000 -115,392,000 -49,663,000 -314,842,000 -38,050,000 -73,292,000 -133,166,000 -39,677,000 -250,031,000 -79,487,000 -78,037,000 -34,811,000 -343,185,000 -88,274,000 -224,880,000 -141,764,000 -40,626,000 -58,464,000 -35,173,000 -251,673,000 -19,442,000 -70,548,000 -110,620,000 -75,559,000 -43,353,000 -33,755,000 -31,119,000 -52,131,000 -5,434,000 -99,407,000 -38,236,000 -106,658,000 -117,017,000 -217,152,000 -123,689,000 584,895,000 -668,178,000 -328,031,000 -328,321,000 -184,745,000 -438,039,000 -339,957,000 -258,414,000 -94,804,000      
      return of investment from unconsolidated entities
    		17,126,000 30,716,000 28,314,000 4,272,000 36,673,000 16,034,000 1,360,000 43,375,000 16,400,000 267,332,000 21,169,000 18,466,000 21,276,000 22,950,000 14,302,000 1,282,000 10,858,000 8,503,000 37,632,000 50,324,000 65,252,000 1,589,000 139,900,000 29,357,000 800,000 3,767,000 355,539,000 184,678,000 40,960,000 23,429,000 111,211,000 65,547,000 9,927,000 25,134,000 108,543,000 121,479,000 32,187,000 34,849,000 55,799,000 61,128,000 34,919,000 92,460,000 54,884,000 209,308,000 64,814,000 82,847,000 53,895,000 28,950,000     
      proceeds from the settlement of net investment hedges
    		0 0 4,852,000 3,224,000 0 2,440,000 10,357,000 6,068,000 9,814,000 15,908,000 5,323,000 14,248,000 18,546,000 22,755,000 3,732,000     0 0 0 2,352,000 0 11,400,000 2,479,000 9,761,000 26,055,000    0 0 5,752,000 1,789,000 869,000                 
      payments on the settlement of net investment hedges
    		-9,188,000   -1,652,000 0   -2,069,000    -2,687,000 0 0 -771,000 0 -8,513,000 -5,489,000 -2,511,000 -1,798,000 -205,000 -1,432,000 -5,599,000 -1,900,000 0 0 -28,524,000 -5,352,000 -2,385,000 0 -3,966,000 0 0                    
      purchase of short-term investments
    		                                                    
      net cash from investing activities
    		-1,070,091,000 -1,034,970,000 -1,550,511,000 319,956,000 -1,711,117,000 -623,831,000 -1,084,065,000 -1,207,263,000 -698,947,000 -3,464,033,000 -1,049,154,000 -1,287,590,000 -1,252,452,000 -2,242,444,000 283,429,000 -1,093,489,000 -380,568,000 -408,907,000 -107,094,000 -494,508,000 -328,659,000 -241,990,000 -2,009,173,000 -403,104,000 -364,019,000 -77,866,000 159,639,000 -19,691,000 -457,331,000 -338,636,000 151,862,000 201,391,000 512,391,000 -226,991,000 56,487,000 342,627,000 -4,880,271,000 -200,349,000 115,146,000 -413,841,000 327,513,000 -517,127,000 667,254,000 -751,184,000 -396,730,000 2,814,582,000 577,492,000 -237,703,000 13,265,000 176,561,000 565,458,000 -151,993,000 
      financing activities:
    		                                                    
      dividends paid on common and preferred stock
    		-941,264,000 -941,588,000 -939,920,000 -893,003,000 -892,862,000 -892,809,000 -891,806,000 -808,567,000 -806,287,000 -807,230,000 -806,505,000 -731,964,000 -587,645,000 -587,732,000 -587,382,000 -468,501,000 -468,179,000 -468,181,000 -468,000,000 -430,663,000 -430,589,000 -430,971,000 -430,766,000 -336,698,000 -336,599,000 -336,269,000 -336,094,000 -303,791,000 -304,331,000 -257,558,000 -257,687,000 -235,624,000 -236,468,000 -235,720,000 -235,072,000 -222,559,000 -190,604,000 -190,585,000 -169,931,000 -166,014,000 -168,004,000 -168,241,000           
      noncontrolling interests contributions
    		32,743,000 13,239,000 13,234,000 51,849,000 15,214,000 4,761,000 1,270,000 19,347,000 62,000   1,374,000 838,000 10,649,000 434,000 67,026,000 3,017,000 4,241,000 120,000 118,000 0 0 916,974,000 2,528,000 5,000 2,533,000 6,538,000 64,771,000 79,121,000 25,324,000 850,000 105,068,000 0   256,000                 
      noncontrolling interests distributions
    		-82,193,000 -73,513,000 -75,045,000 -67,898,000 -65,990,000 -91,450,000 -70,363,000 -56,995,000 -59,942,000 -59,460,000 -58,653,000 -50,139,000 -53,681,000 -36,747,000 -129,542,000 -37,944,000 -234,317,000 -55,079,000 -47,714,000 -52,978,000 -123,112,000 -53,521,000 -132,025,000 -33,334,000 -40,930,000 -42,512,000 -47,643,000 -56,658,000 -46,668,000 -80,122,000 -41,402,000 -75,784,000 -32,108,000 -63,907,000 -35,989,000 -78,888,000                 
      settlement of noncontrolling interests
    		-2,027,000 -13,944,000 -4,003,000 -1,151,000 0 -253,000 -246,000 -48,000 -3,290,000 -24,200,000 -42,269,000 -36,475,000 -2,517,000 -23,719,000 -26,269,000 -15,063,000 -32,606,000 -74,195,000 -31,372,000 -5,201,000 -69,034,000 -25,932,000 -16,811,000 -2,945,000 -10,982,000 -55,661,000 -40,223,000 -23,506,000 -28,646,000 -7,992,000 -15,776,000                      
      tax paid with shares withheld
    		-3,342,000 1,000 -15,416,000 -3,633,000 -4,968,000 -205,000 -21,720,000 -4,722,000 -1,337,000 213,000 -18,690,000 -2,261,000 -1,457,000 -1,368,000 -22,602,000 -1,421,000 -962,000 -517,000 -16,955,000  -94,000                                
      debt and equity issuance costs paid
    		-5,366,000 -22,692,000 -2,648,000 -2,001,000 -9,224,000 -6,668,000 -13,073,000 -340,000 -6,701,000 -33,751,000 -17,868,000 -13,742,000 -3,793,000 -20,061,000 -8,058,000 -1,310,000 -1,525,000 -8,822,000 -11,661,000 -2,481,000 -10,744,000 -9,861,000 -31,118,000 -2,645,000    -1,079,000   -1,002,000 -34,000 -869,000 -5,416,000 -735,000 -315,000 -8,602,000 -2,892,000 -4,102,000 -1,220,000 -12,439,000 -5,659,000 -11,961,000 -19,704,000   -218,000 -1,051,000 -6,884,000 -2,810,000 -4,651,000 -5,274,000 
      net proceeds from (payments on) credit facilities and commercial paper
    		-290,537,000 -36,624,000 299,224,000                                                  
      repurchase of and payments on debt
    		-136,671,000 -1,192,000 -71,205,000 -1,921,000 -1,929,000 -1,696,000 -913,935,000 -1,859,000 -1,768,000 -177,783,000 -90,793,000 -494,259,000 -135,632,000 -418,119,000 -332,995,000 -358,791,000 -16,174,000 -253,226,000 -1,931,983,000 -625,978,000 -1,465,884,000 -625,369,000 -4,065,075,000 -22,056,000 -1,170,882,000 -690,451,000 -1,418,438,000 -878,072,000                         
      proceeds from the issuance of debt
    		1,176,932,000 1,258,261,000 520,219,000 222,062,000 1,266,806,000 1,158,665,000 1,858,297,000 8,119,000 241,755,000 2,960,180,000 2,545,042,000 722,136,000 1,109,332,000 443,571,000 1,841,450,000 772,936,000 206,900,000 588,037,000 2,029,817,000 520,756,000 1,926,331,000 386,317,000 4,991,113,000 55,228,000 2,023,983,000 752,650,000 1,145,095,000                          
      net cash from financing activities
    		-251,725,000 181,948,000 -275,560,000 -1,091,609,000 445,064,000 -355,800,000 2,388,000 -84,005,000 -1,047,659,000 2,279,539,000 172,407,000 -371,523,000 258,348,000 -13,520,000 242,484,000 350,468,000 -443,816,000 -322,664,000 -592,313,000 -466,200,000 -260,325,000 -696,048,000 1,050,411,000 -156,222,000 350,523,000 -285,266,000 -748,634,000 -443,010,000 -288,847,000 -4,275,000 -495,969,000 -649,297,000 -830,936,000 -297,423,000 -828,928,000 -509,271,000 4,763,383,000 -31,953,000 -314,675,000 327,752,000 -483,078,000 132,184,000 -436,512,000 356,667,000 -23,912,000 -2,261,865,000 -725,633,000 -106,510,000 -159,150,000 -80,218,000 -710,701,000 -11,375,000 
      effect of foreign currency exchange rate changes on cash
    		-5,971,000 6,269,000 17,844,000 -26,078,000 13,732,000 -9,064,000 -3,582,000 6,393,000 -12,864,000 -22,035,000 6,468,000 23,697,000 -10,465,000 -23,221,000 -10,807,000 -1,999,000 -6,064,000 7,734,000 -39,299,000 14,931,000 2,062,000 3,040,000 -1,315,000 6,813,000 -6,839,000 4,685,000 1,255,000 1,354,000 -6,784,000 -11,341,000 5,919,000 -707,000 764,000 7,573,000 8,160,000 6,031,000 1,543,000 -7,909,000 -15,402,000 -14,380,000 483,000 10,457,000 -14,047,000 2,106,000 -53,721,000 2,692,000 619,000 -4,473,000 7,110,000 -114,000 2,449,000 -2,950,000 
      net increase in cash and cash equivalents
    		119,941,000 394,964,000 -647,474,000 537,720,000 182,524,000 97,758,000 -29,799,000 -210,453,000 209,731,000 8,609,000 244,018,000  198,767,000 -1,475,235,000 1,356,633,000   -74,628,000 77,988,000 -342,107,000 391,064,000   63,861,000 623,804,000 150,160,000 -92,826,000   69,731,000 11,053,000 -121,680,000 297,372,000 -124,475,000 -411,487,000 105,657,000   38,813,000 44,452,000 78,541,000 -302,243,000 369,436,000 -263,731,000 -399,935,000 684,549,000 -57,378,000 -135,443,000 -50,105,000 167,664,000 -40,677,000 -44,144,000 
      cash and cash equivalents, beginning of period
    		0 0 1,318,591,000  0 0 530,388,000  0 0 278,483,000  0 0 556,117,000  0 0 598,086,000  0 0 1,088,855,000  0 0 343,856,000  0 0 447,046,000  0 0 807,316,000 264,080,000 0 350,692,000  0 0 491,129,000  0 0 100,810,000  0 0 176,072,000 0 0 
      cash and cash equivalents, end of period
    		119,941,000 394,964,000 671,117,000  182,524,000 97,758,000 500,589,000  209,731,000 8,609,000 522,501,000  198,767,000 -1,475,235,000 1,912,750,000  -16,375,000 -74,628,000 676,074,000  391,064,000 -258,742,000 807,871,000  623,804,000 150,160,000 251,030,000  -252,268,000 69,731,000 458,099,000  297,372,000 -124,475,000 395,829,000 369,737,000 159,012,000 192,013,000  44,452,000 78,541,000 188,886,000  -263,731,000 -399,935,000 785,359,000  -135,443,000 -50,105,000 343,736,000 -40,677,000 -44,144,000 
      duke transaction, net of cash acquired
    		       -4,898,000 -5,979,000 -18,304,000 -3,828,000                                          
      proceeds from repayment of notes receivable backed by real estate
    		                   0 0 0 4,312,000     0 0 0 34,260,000 0 0 17,006,000 15,094,000 197,500,000   0 0             
      cash and cash equivalents, beginning of year
    		                                                    
      cash and cash equivalents, end of year
    		                                                    
      gains on early extinguishment of debt
    		    0 0 -536,000                                              
      net payments on credit facilities and commercial paper
    		    138,017,000                                                
      decrease in operating receivables from unconsolidated entities
    		      44,841,000            4,284,000    60,739,000                              
      decrease in accounts payable and accrued expenses and other liabilities
    		      -133,323,000    -62,118,000   -7,002,000 -103,806,000   -27,784,000 -18,795,000           -44,929,000 -44,364,000   9,633,000 -67,748,000 -118,014,000  -113,338,000 19,367,000   -60,530,000   -85,227,000 -40,991,000       
      net proceeds from (payments on) credit facilities
    		      53,964,000 761,060,000 -410,151,000   233,807,000 -67,097,000             83,539,000 -24,565,000    12,138,000    -33,745,000  368,811,000 66,639,000               
      increase in operating receivables from unconsolidated entities
    		       15,852,000 526,984,000                                            
      increase in accounts receivable and other assets
    		               -104,853,000                   33,470,000  14,044,000 -28,673,000               
      real estate and other development
    		                                                    
      proceeds from issuance of common stock
    		               0 0 34,000 709,000 348,000 18,000 1,001,000 850,000 183,000 1,527,000 1,890,000 2,482,000 1,738,000 831,000 3,089,000 1,233,000 2,174,000 5,310,000 23,475,000 1,899,000 1,192,000 1,294,000 82,068,000 363,162,000 3,584,000 4,036,000 7,465,000 3,397,000 52,000 1,497,140,000 5,202,000       
      unrealized foreign currency and derivative gains
    		            -84,680,000 -121,692,000 -33,273,000   -1,656,000 -81,726,000   66,822,000 -109,726,000  -47,537,000                            
      decrease in other assets
    		        -56,194,000 100,733,000 21,742,000                                          
      net payments on credit facilities
    		          -1,337,857,000    -492,552,000  100,030,000 -54,956,000 -115,274,000    -125,166,000      -183,221,000    0                    
      losses on early extinguishment of debt
    		           1,289,000 0 730,000 18,165,000 0 0 0 187,453,000 23,684,000 98,266,000 23,573,000 42,767,000 40,000 13,585,000 385,000 2,116,000  1,955,000       1,052,000   1,939,000 86,076,000             
      liberty transaction, net of cash acquired
    		                   -4,886,000 -1,087,000 -804,000 -22,659,000                              
      ipt transaction, net of cash acquired
    		                   0 165,000 -969,000 -1,664,555,000                              
      repurchase and retirement of common stock
    		                   0 0 0 -34,829,000                              
      repurchase of preferred stock
    		                   0                                 
      net decrease in cash and cash equivalents
    		                      -280,984,000               -158,679,000               
      decrease (increase) in accounts receivable and other assets
    		                           4,320,000 -41,519,000 -33,051,000 -2,705,000 -38,892,000    11,455,000                 
      decrease in accounts receivable and other assets
    		             -7,843,000 107,702,000   -63,015,000 68,398,000                                  
      proceeds from dispositions and contributions of real estate properties
    		                 1,101,967,000 727,609,000 597,307,000 426,725,000 534,021,000 723,887,000 562,327,000 496,998,000 676,802,000 595,496,000 1,002,854,000 405,726,000 322,379,000 579,429,000 882,056,000 1,518,440,000 293,915,000 542,192,000 603,387,000 601,003,000 325,830,000 630,934,000 785,181,000 788,142,000 81,231,000 1,496,075,000 293,596,000 369,383,000 3,250,691,000       
      increase in accounts receivable, lease right-of-use assets and other assets
    		                   -94,430,000     -14,109,000 1,730,000 -13,470,000                          
      increase in accounts payable and accrued expenses, lease liabilities and other liabilities
    		                   43,885,000    33,376,000                             
      dct transaction, net of cash acquired
    		                           398,000                         
      tax paid for shares withheld
    		                      -22,736,000 -501,000 -74,000 -765,000 -21,094,000 186,000 0 -215,000 -26,479,000 -149,000 -732,000 285,000 -19,179,000                  
      decrease (increase) in accounts receivable, lease right-of-use assets and other assets
    		                     -26,553,000 105,648,000                              
      decrease in accounts payable and accrued expenses, lease liabilities and other liabilities
    		                     106,496,000 -123,468,000   9,871,000 -54,164,000                          
      acquisition of a controlling interest in unconsolidated entities, net of cash received
    		                                                    
      gains on real estate transactions
    		                        -123,314,000 -224,195,000 -188,208,000                          
      amortization of debt discounts, net and debt issuance costs
    		                         4,257,000 4,162,000                          
      debt issuance costs paid
    		                         -220,000 -14,692,000                          
      amortization of debt discounts (premiums), net and debt issuance costs
    		                           4,120,000                         
      gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest
    		                                                    
      deferred income tax benefit
    		                               -4,808,000       -2,646,000 -33,658,000   -13,244,000 1,168,000         
      acquisition of a controlling interest in an unconsolidated venture, net of cash received
    		                               0                     
      proceeds from issuance of debt
    		                            2,240,234,000 1,193,626,000 528,167,000 125,756,000 160,000,000 1,648,545,000 485,496,000 299,497,000 2,851,688,000 347,850,000  538,921,000 2,320,505,000 1,165,359,000  1,309,058,000    11,865,000 355,452,000 1,022,667,000  367,000 
      amortization of debt discounts (premiums), net of debt issuance costs
    		                             2,957,000 3,014,000                      
      gains on dispositions of investments in real estate
    		                             -94,261,000 -195,111,000  -779,053,000 -83,006,000 -97,325,000 -144,317,000 -108,782,000 -277,715,000               
      repurchase and payments of debt
    		                             -555,819,000 -696,011,000 -850,691,000 -725,679,000 -1,800,719,000 -201,800,000 -809,309,000 -595,469,000 -313,005,000  -750,135,000 -2,270,509,000 -710,400,000           
      unrealized foreign currency and derivative losses
    		                              34,145,000  20,380,000 23,188,000 12,078,000                  
      distributions from unconsolidated entities
    		                               75,779,000 90,185,000 63,909,000 77,347,000 69,750,000                 
      ktr transaction, net of cash received
    		                                                    
      nondevelopment capital expenditures
    		                               -41,937,000 -31,445,000 -26,402,000 -10,851,000 -10,721,000                 
      purchase of noncontrolling interests
    		                               -23,831,000 -390,000 177,000 -789,803,000 -2,128,000                 
      net increase in operating receivables from unconsolidated entities
    		                                                    
      amortization of debt premiums, net of debt issuance costs
    		                                2,860,000 -1,540,000 -2,905,000                  
      net changes in operating receivables from unconsolidated entities
    		                                 -121,555,000 3,880,000 30,599,000                 
      amortization of debt premiums, net of deferred financing costs
    		                                   -5,391,000                 
      ktr acquisition, net of cash received
    		                                                    
      unrealized foreign currency and derivative losses (gains) and related amortization
    		                                   15,079,000 28,354,000 -32,860,000  -19,425,000             
      real estate development activity
    		                                   -343,955,000 -334,558,000 -335,959,000 -274,740,000 -323,485,000 -208,688,000 -244,268,000 -303,556,000 -227,909,000 -152,096,000 -161,673,000 -200,816,000 -213,045,000     
      net proceeds from credit facilities
    		                                   302,983,000      -607,496,000           
      straight-lined rents
    		                                    -13,803,000 -10,685,000 -9,839,000 -8,986,000 -10,938,000 -13,066,000 -9,436,000 -10,220,000 -10,544,000 -16,661,000 -15,249,000 -11,836,000 -16,561,000 -18,644,000 -16,111,000 -19,905,000 
      distributions and net changes in operating receivables from unconsolidated entities
    		                                    26,846,000 24,716,000 31,733,000              
      amortization of debt and lease intangibles
    		                                    -4,691,000 -566,000 1,427,000 8,040,000 6,320,000 5,326,000 3,557,000 2,184,000 1,907,000 2,492,000 3,648,000 4,216,000 5,462,000 7,682,000 7,664,000  
      non-development capital expenditures
    		                                    -14,487,000 -11,602,000 -30,695,000 -28,249,000 -12,090,000 -7,576,000 -26,232,000 -26,269,000 -17,097,000 -13,012,000 -32,174,000 -23,523,000 -12,888,000 -12,027,000 -18,277,000 -23,560,000 
      proceeds from repayment of note receivable
    		                                    0 9,866,000               
      noncontrolling interest contributions
    		                                      1,264,000 2,519,000 12,170,000 452,327,000 34,970,000 33,568,000 68,584,000 8,400,000 29,039,000 4,861,000 24,086,000 12,834,000   
      noncontrolling interest distributions
    		                                    -16,040,000 -22,028,000 -46,026,000 -9,241,000 -258,988,000 -1,171,000 -61,702,000 -45,473,000 -1,468,000 -7,356,000 -21,529,000 -15,819,000 -714,000 -6,008,000 -6,248,000 -10,960,000 
      purchase of noncontrolling interest
    		                                      0    -2,937,000 -4,757,000   -4,400,000 -10,141,000     
      non-cash merger, acquisition and other integration expenses
    		                                              3,073,000      
      impairment of real estate properties and other assets
    		                                              239,951,000 9,778,000 0 19,320,000  0 
      unrealized foreign currency and derivative losses and related amortization
    		                                                    
      acquisition of a controlling interest in unconsolidated co-investment ventures, net of cash received
    		                                                    
      redemption of preferred stock
    		                                      0 0   0 0         
      repurchase and payment of debt
    		                                                    
      stock-based compensation awards
    		                                       14,056,000 13,748,000 15,238,000 14,986,000 12,263,000 12,235,000 9,755,000 8,084,000 2,785,000     
      gains on acquisitions and dispositions of investment in real estate
    		                                                    
      increase in restricted cash, accounts receivable and other assets
    		                                          24,814,000     -82,876,000 -58,141,000 -45,433,000   
      acquisition of unconsolidated co-investment ventures, net of cash received
    		                                                    
      distributions and changes in operating receivables from unconsolidated entities
    		                                        -15,633,000 26,025,000 4,625,000 19,922,000 26,375,000 24,937,000       
      gains on acquisitions and dispositions of investments in real estate
    		                                        -169,583,000 -17,055,000 -151,702,000 -46,074,000 -61,035,000 -338,845,000       
      decrease (increase) in restricted cash, accounts receivable and other assets
    		                                        19,585,000 -54,819,000   22,043,000 32,936,000     -3,096,000 16,664,000 
      tenant improvements on previously leased space and lease commissions
    		                                        -29,794,000 -33,346,000           
      payments on credit facilities
    		                                             -496,045,000    -51,452,000   
      net gains on dispositions, net of related impairment charges, in discontinued operations
    		                                                    
      real estate acquisitions, net of cash received
    		                                          -112,253,000 -65,402,000         
      proceeds from repayment of notes receivable backed by real estate and other notes receivable
    		                                                    
      acquisition of co-investment ventures, net of cash received
    		                                                    
      investments in notes receivable backed by real estate and advances on other notes receivable
    		                                                  0 0 
      cash acquired in connection with the merger
    		                                                    
      acquisition of pepr, net of cash received
    		                                                  0  
      dividends paid on common stock
    		                                          -140,631,000 -140,763,000 -140,553,000 -130,223,000 -131,094,000 -128,667,000 -130,980,000 -129,512,000   
      dividends paid on preferred stock
    		                                          -2,135,000 -2,135,000 -7,109,000 -10,305,000 -10,312,000 -10,305,000 -10,305,000 -16,659,000 -3,952,000  
      repurchase and early extinguishment of debt
    		                                          -1,302,768,000          
      payments on debt
    		                                          -723,884,000 -219,801,000 -990,202,000 -92,873,000 -30,512,000 1,300,620,000 -538,949,000 -927,869,000 -37,202,000 -41,149,000 
      net incomees (gains) on dispositions, including related impairment charges, in discontinued operations
    		                                                    
      acquisition of unconsolidated entities, net of cash received
    		                                                    
      net gains on dispositions in discontinued operations
    		                                            -13,467,000 -5,834,000       
      acquisition of naif ii and other unconsolidated entities, net of cash received
    		                                                    
      repurchase of debt
    		                                            -238,248,000 -1,538,665,000 -339,602,000    -650,933,000  
      consolidated net income
    		                                                    
      adjustments to reconcile net income to net cash from operating activities:
    		                                                    
      net gains on dispositions, including related impairment charges, in discontinued operations
    		                                                    
      gain on early extinguishment of debt
    		                                              19,033,000 0 500,000 -5,419,000   
      proceeds from dispositions of real estate properties
    		                                              966,779,000 119,523,000 175,770,000 712,964,000 831,966,000 201,815,000 
      distributions and changes in operating receivables from our unconsolidated entities
    		                                               15,860,000     
      net (gain) loss on dispositions, net of related impairment charges, included in discontinued operations
    		                                                    
      gains recognized on acquisitions and dispositions of investments in real estate
    		                                                    
      proceeds from repayment of notes receivable
    		                                                  0 -3,245,000 
      acquisition of naif ii, net of cash received
    		                                               0 0 -317,328,000   
      issuance of common stock
    		                                               6,378,000 4,473,000 18,591,000 0  
      proceeds from credit facilities
    		                                                    
      non-cash merger expenses
    		                                                2,804,000 2,575,000 2,467,000 2,934,000 
      net gains on dispositions, net of related impairment charges, included in discontinued operations
    		                                                  -38,369,000 -11,410,000 
      gains recognized on property acquisitions and dispositions
    		                                                -520,000 -267,771,000 2,966,000 -8,396,000 
      net advances from (investments in and net advances to) unconsolidated entities
    		                                                    
      cash acquired in connection with amb merger
    		                                                  0 0 
      acquisition of prologis european properties (“pepr”), net of cash received
    		                                                    
      proceeds from (payments on) credit facilities
    		                                                    
      cost (settlement) of stock-based compensation awards
    		                                                 12,223,000   
      earnings from unconsolidated investees
    		                                                 -13,995,000 -3,920,000 -30,975,000 
      changes in operating receivables and distributions from unconsolidated investees
    		                                                 1,302,000 22,439,000 19,542,000 
      net gains on dispositions, net of taxes, included in discontinued operations
    		                                                 -11,249,000   
      real estate investments
    		                                                 -179,569,000 -243,288,000 -335,593,000 
      net advances from (investments in and net advances to) unconsolidated investees
    		                                                 -31,724,000   
      return of investment from unconsolidated investees
    		                                                 34,571,000 55,783,000 57,119,000 
      cost of share-based compensation awards
    		                                                    
      debt consent solicitation expenses
    		                                                    
      impairment of goodwill and other assets
    		                                                    
      impairment of real estate properties
    		                                                    
      gains recognized on disposition of investments in japan property funds
    		                                                    
      investments in and net advances to unconsolidated investees
    		                                                    
      proceeds from dispositions of china operations and japan property funds
    		                                                    
      distributions paid on common stock
    		                                                  -129,373,000  
      cost of stock-based compensation awards
    		                                                    
      loss on early extinguishment of debt
    		                                                    
      investments in and advances to unconsolidated investees
    		                                                    
      net income attributable to controlling interests
    		                                                    
      noncontrolling interest share in earnings
    		                                                    
      amortization of management contracts
    		                                                    
      amortization of deferred loan costs
    		                                                    
      amortization of debt discount
    		                                                    
      issuance of common shares
    		                                                    
      distributions paid on common shares
    		                                                    
      dividends paid on preferred shares
    		                                                    
      repurchase of senior and exchangeable senior notes and extinguishment of secured mortgage debt
    		                                                    
      cash flows from operating activities
    		                                                    
      net income
    		                                                    
      adjustments to net income
    		                                                    
      straight-line rents and amortization of lease intangibles
    		                                                    
      foreign exchange losses
    		                                                    
      stock-based compensation amortization
    		                                                    
      equity in earnings of unconsolidated joint ventures
    		                                                    
      operating distributions received from unconsolidated joint ventures
    		                                                    
      development profits, net of taxes
    		                                                    
      debt premiums, discounts and finance cost amortization
    		                                                    
      discontinued operations:
    		                                                    
      gains from sale of real estate interests, net of taxes
    		                                                    
      changes in assets and liabilities:
    		                                                    
      accounts receivable and other assets
    		                                                    
      accounts payable and other liabilities
    		                                                    
      cash flows from investing activities
    		                                                    
      change in restricted cash
    		                                                    
      cash paid for property acquisitions
    		                                                    
      additions to land, buildings, development costs, building improvements and lease costs
    		                                                    
      net proceeds from divestiture of real estate and securities
    		                                                    
      additions to interests in unconsolidated joint ventures
    		                                                    
      repayments from affiliates
    		                                                    
      cash flows from financing activities
    		                                                    
      proceeds from stock option exercises
    		                                                    
      borrowings on secured debt
    		                                                    
      payments on secured debt
    		                                                    
      borrowings on other debt
    		                                                    
      payments on other debt
    		                                                    
      borrowings on unsecured credit facilities
    		                                                    
      payments on unsecured credit facilities
    		                                                    
      payment of financing fees
    		                                                    
      payments on senior debt
    		                                                    
      forfeiture of stock
    		                                                    
      contributions from noncontrolling interests
    		                                                    
      dividends paid to common and preferred stockholders
    		                                                    
      distributions to noncontrolling interests, including preferred units
    		                                                    
      net effect of exchange rate changes on cash
    		                                                    
      cash and cash equivalents at beginning of period
    		                                                    
      cash and cash equivalents at end of period
    		                                                    
      supplemental disclosures of cash flow information
    		                                                    
      cash paid for interest, net of capitalized interest
    		                                                    
      non-cash transactions:
    		                                                    
      proceeds receivable for insured real estate loss
    		                                                    
      non-cash stock option exercises
    		                                                    
      real estate impairment losses
    		                                                    
      foreign exchange (gains) losses
    		                                                    
      gains from sale or contribution of real estate interests
    		                                                    
      repayment of mortgage and loan receivables
    		                                                    
      capital distributions received from unconsolidated joint ventures
    		                                                    
      cash transferred to unconsolidated joint ventures
    		                                                    
      repayments from (loans made to) affiliates
    		                                                    
      purchase of equity interests
    		                                                    
      net proceeds from issuances of senior debt
    		                                                    
      issuance, redemption or repurchases of preferred stock or units
    		                                                    
      acquisition of properties
    		                                                    
      assumption of secured debt
    		                                                    
      assumption of other assets and liabilities
    		                                                    
      acquisition capital
    		                                                    
      net cash paid for property acquisitions
    		                                                    
      preferred unit redemption (discount) issuance costs
    		                                                    
      contribution of properties to unconsolidated joint ventures
    		                                                    
      exchange of common stock for preferred units
    		                                                    
      stock proceeds received from stock option exercises
    		                                                    
      redemption of partnership units
    		                                                    
      tax withholdings related to awards of restricted stock or units
    		                                                    
      contributions from joint venture partners
    		                                                    
      adjustments to net income:
    		                                                    
      repurchase of preferred units
    		                                                    
      noncontrolling interest contribution, including units issued
    		                                                    
      purchase of equity interest of unconsolidated joint ventures
    		                                                    
      issuance costs on preferred stock
    		                                                    
      loans made to affiliates
    		                                                    
      issuance of common stock and units
    		                                                    
      equity in losses (earnings) of unconsolidated joint ventures
    		                                                    
      impairment losses
    		                                                    
      foreign exchange (gains)/losses
    		                                                    
      total minority interests’ share of net income
    		                                                    
      joint venture partners’ share of net income
    		                                                    
      limited partnership unitholders’ share of net income
    		                                                    
      gains from sale of real estate interests, net of minority interests
    		                                                    
      cumulative effect of change in accounting principle
    		                                                    
      repayment of mortgage and loans made to affiliates
    		                                                    
      net proceeds from issuances of preferred stock or units
    		                                                    
      issuance costs on preferred stock or units
    		                                                    
      contributions from joint ventures partners
    		                                                    
      distributions to minority interests, including preferred units
    		                                                    
      minority interest contribution, including units issued
    		                                                    
      preferred unit redemption issuance costs
    		                                                    
      contribution of properties to unconsolidated co-investment ventures
    		                                                    
      deconsolidation of amb institutional alliance fund iii, l.p.
    		                                                    
      gains from dispositions of real estate, net of minority interests
    		                                                    
      additions to land, buildings, development costs, building improvements, lease costs and securities
    		                                                    
      exchange (gains)/losses
    		                                                    
      cash transferred to unconsolidated joint venture
    		                                                    
      purchase of equity interest of unconsolidated joint venture
    		                                                    
      exchange losses
    		                                                    
      equity in earnings of unconsolidated co-investment ventures
    		                                                    
      operating distributions received from unconsolidated co-investment ventures
    		                                                    
      co-investment venture partners’ share of net income
    		                                                    
      net proceeds from divestiture of real estate
    		                                                    
      additions to interests in unconsolidated co-investment ventures
    		                                                    
      capital distributions received from unconsolidated co-investment ventures
    		                                                    
      contributions from co-investment ventures partners
    		                                                    
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.