CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Real estate:    
Buildings and improvements $ 11,120,039 $ 10,877,248
Development costs and construction in progress 692,336 537,643
Land 1,992,602 1,637,506
Accumulated depreciation and amortization (2,771,922) (2,842,947)
Net real estate 11,033,055 10,209,450
Net investment in direct financing leases 84,604 713,818
Loans receivable, net 190,579 62,998
Investments in and advances to unconsolidated joint ventures 825,515 540,088
Accounts receivable, net of allowance of $4,565 and $5,127 59,417 48,171
Cash and cash equivalents 144,232 110,790
Restricted cash 40,425 29,056
Intangible assets, net 331,693 305,079
Assets held for sale, net 504,394 108,086
Right-of-use asset, net 172,486  
Other assets, net 646,491 591,017
Total assets 14,032,891 12,718,553
LIABILITIES AND EQUITY    
Bank line of credit and commercial paper 93,000 80,103
Term loan 248,942 0
Senior unsecured notes 5,647,993 5,258,550
Mortgage debt 276,907 138,470
Other debt 84,771 90,785
Intangible liabilities, net 74,991 54,663
Liabilities of assets held for sale, net 36,369 1,125
Lease liability 156,611  
Accounts payable and accrued liabilities 456,153 391,583
Deferred revenue 289,680 190,683
Total liabilities 7,365,417 6,205,962
Commitments and contingencies
Common stock, $1.00 par value: 750,000,000 shares authorized; 505,221,643 and 477,496,499 shares issued and outstanding 505,222 477,496
Additional paid-in capital 9,183,892 8,398,847
Cumulative dividends in excess of earnings (3,601,199) (2,927,196)
Accumulated other comprehensive income (loss) (2,857) (4,708)
Total stockholders' equity 6,085,058 5,944,439
Joint venture partners 378,061 391,401
Non-managing member unitholders 204,355 176,751
Total noncontrolling interests 582,416 568,152
Total equity 6,667,474 6,512,591
Total liabilities and equity $ 14,032,891 $ 12,718,553