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During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million </context> | us-gaap:DebtInstrumentPeriodicPaymentPrincipal |
During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million | text | 90 | monetaryItemType | text: <entity> 90 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million </context> | us-gaap:DebtInstrumentPeriodicPaymentPrincipal |
During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million </context> | us-gaap:DebtInstrumentPeriodicPaymentPrincipal |
During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million | text | 23 | monetaryItemType | text: <entity> 23 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million </context> | us-gaap:DebtInstrumentPeriodicPaymentPrincipal |
During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> During the years ended December 31, 2024, 2023, and 2022, the Company made aggregate principal repayments of mortgage debt of $ 27 million, $ 90 million, and $ 5 million, respectively (excluding mortgage debt on assets held for sale and discontinued operations). Included in the $ 27 million of aggregate principal payments of mortgage debt for the year ended December 31, 2024 was a $ 23 million full principal repayment of mortgage debt secured by one outpatient medical building acquired as part of the Merger that matured in November 2024. Included in the $ 90 million </context> | us-gaap:NumberOfRealEstateProperties |
December 31, 2023 was an $ 85 million | text | 85 | monetaryItemType | text: <entity> 85 </entity> <entity type> monetaryItemType </entity type> <context> December 31, 2023 was an $ 85 million </context> | us-gaap:DebtInstrumentFaceAmount |
The Company has $ 142 million | text | 142 | monetaryItemType | text: <entity> 142 </entity> <entity type> monetaryItemType </entity type> <context> The Company has $ 142 million </context> | us-gaap:DebtInstrumentFaceAmount |
outpatient medical buildings that matures in May 2026. In April 2022, the Company terminated its existing interest rate cap instruments associated with this variable rate mortgage debt and entered into two interest rate swap instruments that are designated as cash flow hedges | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> outpatient medical buildings that matures in May 2026. In April 2022, the Company terminated its existing interest rate cap instruments associated with this variable rate mortgage debt and entered into two interest rate swap instruments that are designated as cash flow hedges </context> | us-gaap:NumberOfInterestRateDerivativesHeld |
As of December 31, 2024, total unamortized debt issuance costs for the Revolving Facility and Commercial Paper Program were $ 18 million, which are recorded in other assets, net on the Consolidated Balance Sheets. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, total unamortized debt issuance costs for the Revolving Facility and Commercial Paper Program were $ 18 million, which are recorded in other assets, net on the Consolidated Balance Sheets. </context> | us-gaap:UnamortizedDebtIssuanceExpense |
Effective interest rates on the senior unsecured notes range from 1.54 % to 6.87 % | text | 1.54 | percentItemType | text: <entity> 1.54 </entity> <entity type> percentItemType </entity type> <context> Effective interest rates on the senior unsecured notes range from 1.54 % to 6.87 % </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Effective interest rates on the senior unsecured notes range from 1.54 % to 6.87 % | text | 6.87 | percentItemType | text: <entity> 6.87 </entity> <entity type> percentItemType </entity type> <context> Effective interest rates on the senior unsecured notes range from 1.54 % to 6.87 % </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
with a weighted average effective interest rate of 3.96 % and a weighted average maturity of approximately 5 years. | text | 3.96 | percentItemType | text: <entity> 3.96 </entity> <entity type> percentItemType </entity type> <context> with a weighted average effective interest rate of 3.96 % and a weighted average maturity of approximately 5 years. </context> | us-gaap:DebtWeightedAverageInterestRate |
Effective interest rates on the mortgage debt range from 3.44 % to 8.50 % with a weighted average effective interest rate of 5.16 % and a weighted average maturity of approximately 2 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt. | text | 3.44 | percentItemType | text: <entity> 3.44 </entity> <entity type> percentItemType </entity type> <context> Effective interest rates on the mortgage debt range from 3.44 % to 8.50 % with a weighted average effective interest rate of 5.16 % and a weighted average maturity of approximately 2 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Effective interest rates on the mortgage debt range from 3.44 % to 8.50 % with a weighted average effective interest rate of 5.16 % and a weighted average maturity of approximately 2 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt. | text | 8.50 | percentItemType | text: <entity> 8.50 </entity> <entity type> percentItemType </entity type> <context> Effective interest rates on the mortgage debt range from 3.44 % to 8.50 % with a weighted average effective interest rate of 5.16 % and a weighted average maturity of approximately 2 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Effective interest rates on the mortgage debt range from 3.44 % to 8.50 % with a weighted average effective interest rate of 5.16 % and a weighted average maturity of approximately 2 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt. | text | 5.16 | percentItemType | text: <entity> 5.16 </entity> <entity type> percentItemType </entity type> <context> Effective interest rates on the mortgage debt range from 3.44 % to 8.50 % with a weighted average effective interest rate of 5.16 % and a weighted average maturity of approximately 2 years. These interest rates include the impact of designated interest rate swap instruments, which effectively fix the interest rate on certain variable rate debt. </context> | us-gaap:DebtWeightedAverageInterestRate |
Additionally, the Company owns a 49 % interest in the Lab JV (see Note 9). If the property in the joint venture is sold in a taxable transaction, the Company is generally obligated to indemnify its joint venture partner for its federal and state income taxes associated with the gain that existed at the time of the contribution to the joint venture. | text | 49 | percentItemType | text: <entity> 49 </entity> <entity type> percentItemType </entity type> <context> Additionally, the Company owns a 49 % interest in the Lab JV (see Note 9). If the property in the joint venture is sold in a taxable transaction, the Company is generally obligated to indemnify its joint venture partner for its federal and state income taxes associated with the gain that existed at the time of the contribution to the joint venture. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
On February 3, 2025, the Company’s Board of Directors declared a quarterly common stock cash dividend of $ 0.305 per share, reflecting an increase from $ 0.30 to $ 0.305 per share. The common stock cash dividend will be paid on February 26, 2025 to stockholders of record as of the close of business on February 14, 2025. | text | 0.305 | perShareItemType | text: <entity> 0.305 </entity> <entity type> perShareItemType </entity type> <context> On February 3, 2025, the Company’s Board of Directors declared a quarterly common stock cash dividend of $ 0.305 per share, reflecting an increase from $ 0.30 to $ 0.305 per share. The common stock cash dividend will be paid on February 26, 2025 to stockholders of record as of the close of business on February 14, 2025. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
On February 3, 2025, the Company’s Board of Directors declared a quarterly common stock cash dividend of $ 0.305 per share, reflecting an increase from $ 0.30 to $ 0.305 per share. The common stock cash dividend will be paid on February 26, 2025 to stockholders of record as of the close of business on February 14, 2025. | text | 0.30 | perShareItemType | text: <entity> 0.30 </entity> <entity type> perShareItemType </entity type> <context> On February 3, 2025, the Company’s Board of Directors declared a quarterly common stock cash dividend of $ 0.305 per share, reflecting an increase from $ 0.30 to $ 0.305 per share. The common stock cash dividend will be paid on February 26, 2025 to stockholders of record as of the close of business on February 14, 2025. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
Pursuant to the terms set forth in the Merger Agreement, on the Closing Date, each outstanding share of Physicians Realty Trust (other than Physicians Realty Trust common shares that were canceled in accordance with the Merger Agreement) automatically converted into the right to receive 0.674 shares of the Company’s common stock. Based on the number of outstanding Physicians Realty Trust common shares as of the Closing Date, the Company issued 162 million shares of common stock. Refer to Note 3 for additional information regarding the Merger. | text | 162 | sharesItemType | text: <entity> 162 </entity> <entity type> sharesItemType </entity type> <context> Pursuant to the terms set forth in the Merger Agreement, on the Closing Date, each outstanding share of Physicians Realty Trust (other than Physicians Realty Trust common shares that were canceled in accordance with the Merger Agreement) automatically converted into the right to receive 0.674 shares of the Company’s common stock. Based on the number of outstanding Physicians Realty Trust common shares as of the Closing Date, the Company issued 162 million shares of common stock. Refer to Note 3 for additional information regarding the Merger. </context> | us-gaap:StockIssuedDuringPeriodSharesAcquisitions |
During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. | text | 9.1 | sharesItemType | text: <entity> 9.1 </entity> <entity type> sharesItemType </entity type> <context> During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. </context> | us-gaap:ForwardContractIndexedToIssuersEquityShares |
During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. | text | 35.25 | perShareItemType | text: <entity> 35.25 </entity> <entity type> perShareItemType </entity type> <context> During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. </context> | us-gaap:ForwardContractIndexedToIssuersEquityForwardRate |
During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. | text | 34.01 | perShareItemType | text: <entity> 34.01 </entity> <entity type> perShareItemType </entity type> <context> During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. </context> | us-gaap:ForwardContractIndexedToIssuersEquityForwardRate |
During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. | text | 308 | monetaryItemType | text: <entity> 308 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2021, the Company utilized the forward provisions under the 2020 ATM Program to allow for the sale of an aggregate of 9.1 million shares of its common stock at an initial weighted average net price of $ 35.25 per share, after commissions. In December 2022, the Company settled all 9.1 million shares previously outstanding under ATM forward contracts at a weighted average net price of $ 34.01 per share, after commissions, resulting in net proceeds of $ 308 million. During the years ended December 31, 2024, 2023, and 2022 the Company did not utilize the forward provisions under the ATM Programs. </context> | us-gaap:StockIssuedDuringPeriodValueNewIssues |
On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. | text | 2.1 | sharesItemType | text: <entity> 2.1 </entity> <entity type> sharesItemType </entity type> <context> On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. </context> | us-gaap:TreasuryStockSharesAcquired |
On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. | text | 27.16 | perShareItemType | text: <entity> 27.16 </entity> <entity type> perShareItemType </entity type> <context> On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. </context> | us-gaap:TreasuryStockAcquiredAverageCostPerShare |
On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. | text | 56 | monetaryItemType | text: <entity> 56 </entity> <entity type> monetaryItemType </entity type> <context> On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. </context> | us-gaap:TreasuryStockValueAcquiredCostMethod |
On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. | text | 10.5 | sharesItemType | text: <entity> 10.5 </entity> <entity type> sharesItemType </entity type> <context> On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. </context> | us-gaap:TreasuryStockSharesAcquired |
On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. | text | 17.98 | perShareItemType | text: <entity> 17.98 </entity> <entity type> perShareItemType </entity type> <context> On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. </context> | us-gaap:TreasuryStockAcquiredAverageCostPerShare |
On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. | text | 188 | monetaryItemType | text: <entity> 188 </entity> <entity type> monetaryItemType </entity type> <context> On August 1, 2022, the Company’s Board of Directors approved a share repurchase program under which the Company could acquire shares of its common stock in the open market up to an aggregate purchase price of $ 500 million (the “2022 Share Repurchase Program”). Purchases of common stock under the 2022 Share Repurchase Program could be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. Under Maryland General Corporation Law, outstanding shares of common stock acquired by a corporation become authorized but unissued shares, which may be re-issued. During the year ended December 31, 2022, the Company repurchased 2.1 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 27.16 per share for a total of $ 56 million. During the year ended December 31, 2023, there were no repurchases under the 2022 Share Repurchase Program. During the year ended December 31, 2024, the Company repurchased 10.5 million shares of its common stock under the 2022 Share Repurchase Program at a weighted average price of $ 17.98 per share for a total of $ 188 million. </context> | us-gaap:TreasuryStockValueAcquiredCostMethod |
On July 24, 2024, the Company’s Board of Directors approved a new share repurchase program (the “2024 Share Repurchase Program”) to supersede and replace the 2022 Share Repurchase Program. Upon adoption of the 2024 Share Repurchase Program, no further share repurchases may be made pursuant to the 2022 Share Repurchase Program. Under the 2024 Share Repurchase Program, the Company may acquire shares of its common stock in the open market or other similar purchase techniques (including in compliance with the safe harbor provisions of Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or pursuant to one or more plans adopted under Rule 10b5-1 promulgated under the Exchange Act), up to an aggregate purchase price of $ 500 million. Purchases of common stock under the 2024 Share Repurchase Program may be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. The 2024 Share Repurchase Program expires in July 2026 and may be suspended or terminated at any time without prior notice. As of December 31, 2024, no shares have been repurchased under the 2024 Share Repurchase Program. Therefore, at December 31, 2024, | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> On July 24, 2024, the Company’s Board of Directors approved a new share repurchase program (the “2024 Share Repurchase Program”) to supersede and replace the 2022 Share Repurchase Program. Upon adoption of the 2024 Share Repurchase Program, no further share repurchases may be made pursuant to the 2022 Share Repurchase Program. Under the 2024 Share Repurchase Program, the Company may acquire shares of its common stock in the open market or other similar purchase techniques (including in compliance with the safe harbor provisions of Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or pursuant to one or more plans adopted under Rule 10b5-1 promulgated under the Exchange Act), up to an aggregate purchase price of $ 500 million. Purchases of common stock under the 2024 Share Repurchase Program may be exercised at the Company’s discretion with the timing and number of shares repurchased depending on a variety of factors, including price, corporate and regulatory requirements, and other corporate liquidity requirements and priorities. The 2024 Share Repurchase Program expires in July 2026 and may be suspended or terminated at any time without prior notice. As of December 31, 2024, no shares have been repurchased under the 2024 Share Repurchase Program. Therefore, at December 31, 2024, </context> | us-gaap:TreasuryStockSharesAcquired |
$ 500 million of the Company’s common stock remained available for repurchase under the 2024 Share Repurchase Program. | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> $ 500 million of the Company’s common stock remained available for repurchase under the 2024 Share Repurchase Program. </context> | us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 |
In April 2024, the Company exercised its option to buy out four redeemable noncontrolling interests that met the criteria for redemption. Accordingly, during the year ended December 31, 2024, the Company made aggregate cash payments for the total redemption value of $ 53 million to the related noncontrolling interest holders and acquired the redeemable noncontrolling interests associated with the entities. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> In April 2024, the Company exercised its option to buy out four redeemable noncontrolling interests that met the criteria for redemption. Accordingly, during the year ended December 31, 2024, the Company made aggregate cash payments for the total redemption value of $ 53 million to the related noncontrolling interest holders and acquired the redeemable noncontrolling interests associated with the entities. </context> | us-gaap:RedeemableNoncontrollingInterestEquityRedemptionValue |
Immediately following the Reorganization, Healthpeak Properties, Inc. was the initial sole member and 100 % owner of Healthpeak OP. Subsequent to the Reorganization, OP Unitholders were issued approximately 2 million OP Units during the year ended December 31, 2023, all of which were LTIP Units (as defined in Note 15). During the year ended December 31, 2024, OP Unitholders were issued approximately | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> Immediately following the Reorganization, Healthpeak Properties, Inc. was the initial sole member and 100 % owner of Healthpeak OP. Subsequent to the Reorganization, OP Unitholders were issued approximately 2 million OP Units during the year ended December 31, 2023, all of which were LTIP Units (as defined in Note 15). During the year ended December 31, 2024, OP Unitholders were issued approximately </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
shares of Healthpeak common stock are issuable upon conversion) outstanding in eight DownREIT LLCs, for all of which the Company holds a controlling interest and/or acts as the managing member. At December 31, 2024, the carrying value of the 11 million DownREIT units was $ 310 million. At December 31, 2023, there were approximately 5 million DownREIT units ( 7 million shares of Healthpeak common stock are issuable upon conversion) outstanding in seven DownREIT LLCs, for all of which the Company acts as the managing member. At December 31, 2023, the carrying value of the 5 million DownREIT units was | text | 310 | monetaryItemType | text: <entity> 310 </entity> <entity type> monetaryItemType </entity type> <context> shares of Healthpeak common stock are issuable upon conversion) outstanding in eight DownREIT LLCs, for all of which the Company holds a controlling interest and/or acts as the managing member. At December 31, 2024, the carrying value of the 11 million DownREIT units was $ 310 million. At December 31, 2023, there were approximately 5 million DownREIT units ( 7 million shares of Healthpeak common stock are issuable upon conversion) outstanding in seven DownREIT LLCs, for all of which the Company acts as the managing member. At December 31, 2023, the carrying value of the 5 million DownREIT units was </context> | us-gaap:MinorityInterestInPreferredUnitHolders |
On May 11, 2006, the Company’s stockholders approved the 2006 Performance Incentive Plan, which was amended and restated in 2009 (the “2006 Plan”). On May 1, 2014, the Company’s stockholders approved the 2014 Performance Incentive Plan, which was amended and restated in 2019 and further amended in 2023 (the “2014 Plan”). Following the adoption of the 2014 Plan, no new awards were issued under the 2006 Plan. On April 27, 2023, the Company’s stockholders approved the 2023 Performance Plan (the “2023 Plan” and collectively with the 2006 Plan and the 2014 Plan, the “Plans”). Following the adoption of the 2023 Plan, no new awards may be issued under the 2014 Plan. The Plans provide for the granting of stock-based compensation to officers, employees, and directors, including stock options, restricted stock, restricted stock units, and with respect to the 2014 and 2023 Plans, profits interests in Healthpeak OP (“LTIP Units”). The maximum number of shares reserved for awards under the 2023 Plan is 31 million shares, and, as of December 31, 2024, 28 million of the reserved shares under the 2023 Plan are available for future awards, of which 19 million shares may be issued as restricted stock, restricted stock units, or LTIP Units. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> On May 11, 2006, the Company’s stockholders approved the 2006 Performance Incentive Plan, which was amended and restated in 2009 (the “2006 Plan”). On May 1, 2014, the Company’s stockholders approved the 2014 Performance Incentive Plan, which was amended and restated in 2019 and further amended in 2023 (the “2014 Plan”). Following the adoption of the 2014 Plan, no new awards were issued under the 2006 Plan. On April 27, 2023, the Company’s stockholders approved the 2023 Performance Plan (the “2023 Plan” and collectively with the 2006 Plan and the 2014 Plan, the “Plans”). Following the adoption of the 2023 Plan, no new awards may be issued under the 2014 Plan. The Plans provide for the granting of stock-based compensation to officers, employees, and directors, including stock options, restricted stock, restricted stock units, and with respect to the 2014 and 2023 Plans, profits interests in Healthpeak OP (“LTIP Units”). The maximum number of shares reserved for awards under the 2023 Plan is 31 million shares, and, as of December 31, 2024, 28 million of the reserved shares under the 2023 Plan are available for future awards, of which 19 million shares may be issued as restricted stock, restricted stock units, or LTIP Units. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
On May 11, 2006, the Company’s stockholders approved the 2006 Performance Incentive Plan, which was amended and restated in 2009 (the “2006 Plan”). On May 1, 2014, the Company’s stockholders approved the 2014 Performance Incentive Plan, which was amended and restated in 2019 and further amended in 2023 (the “2014 Plan”). Following the adoption of the 2014 Plan, no new awards were issued under the 2006 Plan. On April 27, 2023, the Company’s stockholders approved the 2023 Performance Plan (the “2023 Plan” and collectively with the 2006 Plan and the 2014 Plan, the “Plans”). Following the adoption of the 2023 Plan, no new awards may be issued under the 2014 Plan. The Plans provide for the granting of stock-based compensation to officers, employees, and directors, including stock options, restricted stock, restricted stock units, and with respect to the 2014 and 2023 Plans, profits interests in Healthpeak OP (“LTIP Units”). The maximum number of shares reserved for awards under the 2023 Plan is 31 million shares, and, as of December 31, 2024, 28 million of the reserved shares under the 2023 Plan are available for future awards, of which 19 million shares may be issued as restricted stock, restricted stock units, or LTIP Units. | text | 31 | sharesItemType | text: <entity> 31 </entity> <entity type> sharesItemType </entity type> <context> On May 11, 2006, the Company’s stockholders approved the 2006 Performance Incentive Plan, which was amended and restated in 2009 (the “2006 Plan”). On May 1, 2014, the Company’s stockholders approved the 2014 Performance Incentive Plan, which was amended and restated in 2019 and further amended in 2023 (the “2014 Plan”). Following the adoption of the 2014 Plan, no new awards were issued under the 2006 Plan. On April 27, 2023, the Company’s stockholders approved the 2023 Performance Plan (the “2023 Plan” and collectively with the 2006 Plan and the 2014 Plan, the “Plans”). Following the adoption of the 2023 Plan, no new awards may be issued under the 2014 Plan. The Plans provide for the granting of stock-based compensation to officers, employees, and directors, including stock options, restricted stock, restricted stock units, and with respect to the 2014 and 2023 Plans, profits interests in Healthpeak OP (“LTIP Units”). The maximum number of shares reserved for awards under the 2023 Plan is 31 million shares, and, as of December 31, 2024, 28 million of the reserved shares under the 2023 Plan are available for future awards, of which 19 million shares may be issued as restricted stock, restricted stock units, or LTIP Units. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
On May 11, 2006, the Company’s stockholders approved the 2006 Performance Incentive Plan, which was amended and restated in 2009 (the “2006 Plan”). On May 1, 2014, the Company’s stockholders approved the 2014 Performance Incentive Plan, which was amended and restated in 2019 and further amended in 2023 (the “2014 Plan”). Following the adoption of the 2014 Plan, no new awards were issued under the 2006 Plan. On April 27, 2023, the Company’s stockholders approved the 2023 Performance Plan (the “2023 Plan” and collectively with the 2006 Plan and the 2014 Plan, the “Plans”). Following the adoption of the 2023 Plan, no new awards may be issued under the 2014 Plan. The Plans provide for the granting of stock-based compensation to officers, employees, and directors, including stock options, restricted stock, restricted stock units, and with respect to the 2014 and 2023 Plans, profits interests in Healthpeak OP (“LTIP Units”). The maximum number of shares reserved for awards under the 2023 Plan is 31 million shares, and, as of December 31, 2024, 28 million of the reserved shares under the 2023 Plan are available for future awards, of which 19 million shares may be issued as restricted stock, restricted stock units, or LTIP Units. | text | 28 | sharesItemType | text: <entity> 28 </entity> <entity type> sharesItemType </entity type> <context> On May 11, 2006, the Company’s stockholders approved the 2006 Performance Incentive Plan, which was amended and restated in 2009 (the “2006 Plan”). On May 1, 2014, the Company’s stockholders approved the 2014 Performance Incentive Plan, which was amended and restated in 2019 and further amended in 2023 (the “2014 Plan”). Following the adoption of the 2014 Plan, no new awards were issued under the 2006 Plan. On April 27, 2023, the Company’s stockholders approved the 2023 Performance Plan (the “2023 Plan” and collectively with the 2006 Plan and the 2014 Plan, the “Plans”). Following the adoption of the 2023 Plan, no new awards may be issued under the 2014 Plan. The Plans provide for the granting of stock-based compensation to officers, employees, and directors, including stock options, restricted stock, restricted stock units, and with respect to the 2014 and 2023 Plans, profits interests in Healthpeak OP (“LTIP Units”). The maximum number of shares reserved for awards under the 2023 Plan is 31 million shares, and, as of December 31, 2024, 28 million of the reserved shares under the 2023 Plan are available for future awards, of which 19 million shares may be issued as restricted stock, restricted stock units, or LTIP Units. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 26.0 | percentItemType | text: <entity> 26.0 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 33.0 | percentItemType | text: <entity> 33.0 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 38.9 | percentItemType | text: <entity> 38.9 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 5.2 | percentItemType | text: <entity> 5.2 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 4.4 | percentItemType | text: <entity> 4.4 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 3.5 | percentItemType | text: <entity> 3.5 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 4.5 | percentItemType | text: <entity> 4.5 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 4.4 | percentItemType | text: <entity> 4.4 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 1.8 | percentItemType | text: <entity> 1.8 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 10.0 | percentItemType | text: <entity> 10.0 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions |
0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was | text | 5.8 | percentItemType | text: <entity> 5.8 </entity> <entity type> percentItemType </entity type> <context> 0 % to 200 % of target depending on the level of achievement of the performance criteria. The fair value of market-based restricted stock units is determined based on the Monte Carlo valuation model primarily using the following assumptions for awards granted during the years ended December 31, 2024, 2023, and 2022, respectively: (i) expected term of 3 years, 3 years, and 3 years (equal to the remaining performance period at the grant date), (ii) historical volatility of 26.0 %, 33.0 %, and 38.9 %, (iii) dividend yield of 5.2 %, 4.4 %, and 3.5 %, (iv) risk-free rate of 4.5 %, 4.4 %, and 1.8 %, and (v) post-vesting restrictions discount of 10.0 %, 10.0 %, and 5.8 %. The total grant date fair value of time-based restricted stock units and market-based restricted stock units granted during the years ended December 31, 2024, 2023, and 2022 was $ 11 million, $ 9 million, and $ 27 million, respectively. The total fair value (at vesting) of time-based restricted stock units and market-based restricted stock units that vested during the years ended December 31, 2024, 2023, and 2022 was </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsDiscountForPostvestingRestrictions |
Under the Plans, time-based LTIP Units and market-based LTIP Units (collectively, “LTIP Units”), are granted subject to certain restrictions. Time-based LTIP Units, which vest solely upon passage of time, generally vest over a period of three to six years . The fair value of the time-based LTIP Units is determined based on the closing market price of the Company’s shares on the grant date less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the time-based LTIP Units reaching parity. The market-based LTIP Units are granted at the maximum potential payout, inclusive of expected distributions during the performance period. Market-based LTIP Units, which vest dependent upon attainment of various levels of TSR performance that equal or exceed threshold levels as measured against certain peer and industry benchmarks, generally vest in their entirety at the end of a three-year performance period. The number of market-based LTIP Units that ultimately vest can vary from 0 % to 200 % of target depending on the level of achievement of the performance criteria, and any difference from the original grant are forfeited. The fair value of market-based LTIP Units granted during the years ended December 31, 2024 and 2023 is determined based on the Monte Carlo valuation model using the same assumptions as market-based restricted stock units described above less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the market-based LTIP Units reaching parity with the value of the Company’s common stock and the vesting terms of the awards. The total grant date fair value of LTIP Units granted during the years ended December 31, 2024 and 2023 was $ 13 million and $ 29 million. The total fair value (at vesting) of LTIP Units that vested during the years ended December 31, 2024 and 2023 was $ 3 million and $ 2 million. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> Under the Plans, time-based LTIP Units and market-based LTIP Units (collectively, “LTIP Units”), are granted subject to certain restrictions. Time-based LTIP Units, which vest solely upon passage of time, generally vest over a period of three to six years . The fair value of the time-based LTIP Units is determined based on the closing market price of the Company’s shares on the grant date less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the time-based LTIP Units reaching parity. The market-based LTIP Units are granted at the maximum potential payout, inclusive of expected distributions during the performance period. Market-based LTIP Units, which vest dependent upon attainment of various levels of TSR performance that equal or exceed threshold levels as measured against certain peer and industry benchmarks, generally vest in their entirety at the end of a three-year performance period. The number of market-based LTIP Units that ultimately vest can vary from 0 % to 200 % of target depending on the level of achievement of the performance criteria, and any difference from the original grant are forfeited. The fair value of market-based LTIP Units granted during the years ended December 31, 2024 and 2023 is determined based on the Monte Carlo valuation model using the same assumptions as market-based restricted stock units described above less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the market-based LTIP Units reaching parity with the value of the Company’s common stock and the vesting terms of the awards. The total grant date fair value of LTIP Units granted during the years ended December 31, 2024 and 2023 was $ 13 million and $ 29 million. The total fair value (at vesting) of LTIP Units that vested during the years ended December 31, 2024 and 2023 was $ 3 million and $ 2 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
Under the Plans, time-based LTIP Units and market-based LTIP Units (collectively, “LTIP Units”), are granted subject to certain restrictions. Time-based LTIP Units, which vest solely upon passage of time, generally vest over a period of three to six years . The fair value of the time-based LTIP Units is determined based on the closing market price of the Company’s shares on the grant date less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the time-based LTIP Units reaching parity. The market-based LTIP Units are granted at the maximum potential payout, inclusive of expected distributions during the performance period. Market-based LTIP Units, which vest dependent upon attainment of various levels of TSR performance that equal or exceed threshold levels as measured against certain peer and industry benchmarks, generally vest in their entirety at the end of a three-year performance period. The number of market-based LTIP Units that ultimately vest can vary from 0 % to 200 % of target depending on the level of achievement of the performance criteria, and any difference from the original grant are forfeited. The fair value of market-based LTIP Units granted during the years ended December 31, 2024 and 2023 is determined based on the Monte Carlo valuation model using the same assumptions as market-based restricted stock units described above less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the market-based LTIP Units reaching parity with the value of the Company’s common stock and the vesting terms of the awards. The total grant date fair value of LTIP Units granted during the years ended December 31, 2024 and 2023 was $ 13 million and $ 29 million. The total fair value (at vesting) of LTIP Units that vested during the years ended December 31, 2024 and 2023 was $ 3 million and $ 2 million. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> Under the Plans, time-based LTIP Units and market-based LTIP Units (collectively, “LTIP Units”), are granted subject to certain restrictions. Time-based LTIP Units, which vest solely upon passage of time, generally vest over a period of three to six years . The fair value of the time-based LTIP Units is determined based on the closing market price of the Company’s shares on the grant date less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the time-based LTIP Units reaching parity. The market-based LTIP Units are granted at the maximum potential payout, inclusive of expected distributions during the performance period. Market-based LTIP Units, which vest dependent upon attainment of various levels of TSR performance that equal or exceed threshold levels as measured against certain peer and industry benchmarks, generally vest in their entirety at the end of a three-year performance period. The number of market-based LTIP Units that ultimately vest can vary from 0 % to 200 % of target depending on the level of achievement of the performance criteria, and any difference from the original grant are forfeited. The fair value of market-based LTIP Units granted during the years ended December 31, 2024 and 2023 is determined based on the Monte Carlo valuation model using the same assumptions as market-based restricted stock units described above less a discount for post-vesting restrictions, liquidity risk, and uncertainty of the market-based LTIP Units reaching parity with the value of the Company’s common stock and the vesting terms of the awards. The total grant date fair value of LTIP Units granted during the years ended December 31, 2024 and 2023 was $ 13 million and $ 29 million. The total fair value (at vesting) of LTIP Units that vested during the years ended December 31, 2024 and 2023 was $ 3 million and $ 2 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
at December 31, 2024 and 0.2 million at December 31, 2023. There were no stock options exercised under the Plans for the years ended December 31, 2024, 2023, and 2022. No compensation cost related to stock options was incurred during the years ended December 31, 2024, 2023, and 2022. | text | 0.2 | sharesItemType | text: <entity> 0.2 </entity> <entity type> sharesItemType </entity type> <context> at December 31, 2024 and 0.2 million at December 31, 2023. There were no stock options exercised under the Plans for the years ended December 31, 2024, 2023, and 2022. No compensation cost related to stock options was incurred during the years ended December 31, 2024, 2023, and 2022. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. | text | 32 | monetaryItemType | text: <entity> 32 </entity> <entity type> monetaryItemType </entity type> <context> Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. </context> | us-gaap:AllocatedShareBasedCompensationExpense |
Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost |
Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. | text | 22 | monetaryItemType | text: <entity> 22 </entity> <entity type> monetaryItemType </entity type> <context> Total stock-based compensation cost was $ 20 million, $ 19 million, and $ 32 million for the years ended December 31, 2024, 2023, and 2022, respectively, which was recognized in general and administrative expenses. The year ended December 31, 2022 included $ 10 million of severance-related charges resulting from a decrease in the requisite service period of restricted stock units associated with the Company's former CEO, as further described below. Of the total stock-based compensation cost, $ 4 million was capitalized as part of real estate for each of the years ended December 31, 2024, 2023, and 2022. As of December 31, 2024, there was $ 22 million of future expenses related to unvested stock-based compensation arrangements granted under the Company’s incentive plans, which is expected to be recognized over a weighted average period of 1.6 years associated with future employee service. Compensation cost recognized for all Restricted Stock Units and LTIP Units is net of actual forfeitures. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
$ 4 million and $ 8 million of these severance-related charges have not yet been paid and were included in accounts payable, accrued liabilities, and other liabilities on the Consolidated Balance Sheets. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> $ 4 million and $ 8 million of these severance-related charges have not yet been paid and were included in accounts payable, accrued liabilities, and other liabilities on the Consolidated Balance Sheets. </context> | us-gaap:SeveranceCosts1 |
$ 4 million and $ 8 million of these severance-related charges have not yet been paid and were included in accounts payable, accrued liabilities, and other liabilities on the Consolidated Balance Sheets. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> $ 4 million and $ 8 million of these severance-related charges have not yet been paid and were included in accounts payable, accrued liabilities, and other liabilities on the Consolidated Balance Sheets. </context> | us-gaap:SeveranceCosts1 |
At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. | text | 69 | monetaryItemType | text: <entity> 69 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. </context> | us-gaap:Goodwill |
At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. | text | 65 | monetaryItemType | text: <entity> 65 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. </context> | us-gaap:Goodwill |
At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. </context> | us-gaap:Goodwill |
At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. </context> | us-gaap:Goodwill |
At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. | text | 14 | monetaryItemType | text: <entity> 14 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, goodwill of $ 69 million was allocated to the Company’s segment assets as follows: (i) $ 65 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. At December 31, 2023, goodwill of $ 18 million was allocated to the Company’s segment assets as follows: (i) $ 14 million for outpatient medical, (ii) $ 2 million for CCRC, and (iii) $ 2 million for other non-reportable. </context> | us-gaap:Goodwill |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 272 | monetaryItemType | text: <entity> 272 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 325 | monetaryItemType | text: <entity> 325 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 509 | monetaryItemType | text: <entity> 509 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 217 | monetaryItemType | text: <entity> 217 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 318 | monetaryItemType | text: <entity> 318 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 527 | monetaryItemType | text: <entity> 527 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 55 | monetaryItemType | text: <entity> 55 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments |
The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s pretax income (loss) from continuing operations for the years ended December 31, 2024, 2023, and 2022 was $ 272 million, $ 325 million, and $ 509 million, respectively, of which $ 217 million, $ 318 million, and $ 527 million was attributable to the REIT entities for the years then ended. The TRS entities subject to tax reported income (losses) before income taxes from continuing operations of $ 55 million, $ 7 million, and $( 18 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments |
The Company’s income tax benefit from discontinued operations was zero , zero , and $ 0.3 million for the years ended December 31, 2024, 2023, and 2022, respectively (see Note 5). | text | zero | monetaryItemType | text: <entity> zero </entity> <entity type> monetaryItemType </entity type> <context> The Company’s income tax benefit from discontinued operations was zero , zero , and $ 0.3 million for the years ended December 31, 2024, 2023, and 2022, respectively (see Note 5). </context> | us-gaap:DiscontinuedOperationTaxEffectOfDiscontinuedOperation |
The Company’s income tax benefit from discontinued operations was zero , zero , and $ 0.3 million for the years ended December 31, 2024, 2023, and 2022, respectively (see Note 5). | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> The Company’s income tax benefit from discontinued operations was zero , zero , and $ 0.3 million for the years ended December 31, 2024, 2023, and 2022, respectively (see Note 5). </context> | us-gaap:DiscontinuedOperationTaxEffectOfDiscontinuedOperation |
As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. | text | 14 | monetaryItemType | text: <entity> 14 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. </context> | us-gaap:IncomeTaxExpenseBenefit |
As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. </context> | us-gaap:IncomeTaxExpenseBenefit |
As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. </context> | us-gaap:IncomeTaxExpenseBenefit |
As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. </context> | us-gaap:DeferredIncomeTaxesAndTaxCredits |
As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. </context> | us-gaap:DeferredIncomeTaxesAndTaxCredits |
As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2022, the Company recorded a valuation allowance against certain SHOP deferred tax assets generated by net operating losses (“NOLs”) of its TRS entities. During the years ended December 31, 2024 and 2023, the Company concluded that it was more likely than not that certain deferred tax assets (primarily NOL carryforwards) would be realized. During the year ended December 31, 2023, this conclusion was based on estimates of future taxable income for certain TRS entities in connection with the Callan Ridge JV transaction (see also Notes 5 and 9). Accordingly, the Company reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 14 million during the year ended December 31, 2023. During the year ended December 31, 2024, the Company recognized an income tax expense of $ 12 million in conjunction with the closing of the Callan Ridge JV transaction. Additionally, during the year ended December 31, 2024, the Company completed a merger of certain TRS entities and as a result, reversed a portion of the deferred tax asset valuation allowance and recognized an income tax benefit of $ 11 million. As of December 31, 2024, 2023, and 2022, the Company had a deferred tax asset valuation allowance of $ 2 million, $ 13 million, and $ 26 million, respectively. </context> | us-gaap:DeferredIncomeTaxesAndTaxCredits |
At December 31, 2024, the Company had a NOL carryforward of $ 193 million related to the TRS entities. If unused, $ 2 million will begin to expire in 2035. The remainder, totaling $ 191 million, may be carried forward indefinitely. | text | 193 | monetaryItemType | text: <entity> 193 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company had a NOL carryforward of $ 193 million related to the TRS entities. If unused, $ 2 million will begin to expire in 2035. The remainder, totaling $ 191 million, may be carried forward indefinitely. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwards |
At December 31, 2024, the Company had a NOL carryforward of $ 193 million related to the TRS entities. If unused, $ 2 million will begin to expire in 2035. The remainder, totaling $ 191 million, may be carried forward indefinitely. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company had a NOL carryforward of $ 193 million related to the TRS entities. If unused, $ 2 million will begin to expire in 2035. The remainder, totaling $ 191 million, may be carried forward indefinitely. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration |
At December 31, 2024, the Company had a NOL carryforward of $ 193 million related to the TRS entities. If unused, $ 2 million will begin to expire in 2035. The remainder, totaling $ 191 million, may be carried forward indefinitely. | text | 191 | monetaryItemType | text: <entity> 191 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company had a NOL carryforward of $ 193 million related to the TRS entities. If unused, $ 2 million will begin to expire in 2035. The remainder, totaling $ 191 million, may be carried forward indefinitely. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration |
In December 2021, the Company acquired a 38 % interest in a lab development joint venture in Needham, Massachusetts for $ 13 million. Current equity at risk is not sufficient to finance the joint venture’s activities. The assets and liabilities of the entity primarily consist of real estate and debt service obligations. Any assets generated by the entity may only be used to settle its contractual obligations (primarily development costs and debt service payments). See Note 9 for additional descriptions of the nature, purpose, and operating activities of this unconsolidated VIE and interests therein. | text | 38 | percentItemType | text: <entity> 38 </entity> <entity type> percentItemType </entity type> <context> In December 2021, the Company acquired a 38 % interest in a lab development joint venture in Needham, Massachusetts for $ 13 million. Current equity at risk is not sufficient to finance the joint venture’s activities. The assets and liabilities of the entity primarily consist of real estate and debt service obligations. Any assets generated by the entity may only be used to settle its contractual obligations (primarily development costs and debt service payments). See Note 9 for additional descriptions of the nature, purpose, and operating activities of this unconsolidated VIE and interests therein. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
In December 2021, the Company acquired a 38 % interest in a lab development joint venture in Needham, Massachusetts for $ 13 million. Current equity at risk is not sufficient to finance the joint venture’s activities. The assets and liabilities of the entity primarily consist of real estate and debt service obligations. Any assets generated by the entity may only be used to settle its contractual obligations (primarily development costs and debt service payments). See Note 9 for additional descriptions of the nature, purpose, and operating activities of this unconsolidated VIE and interests therein. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> In December 2021, the Company acquired a 38 % interest in a lab development joint venture in Needham, Massachusetts for $ 13 million. Current equity at risk is not sufficient to finance the joint venture’s activities. The assets and liabilities of the entity primarily consist of real estate and debt service obligations. Any assets generated by the entity may only be used to settle its contractual obligations (primarily development costs and debt service payments). See Note 9 for additional descriptions of the nature, purpose, and operating activities of this unconsolidated VIE and interests therein. </context> | us-gaap:PaymentsToAcquireEquityMethodInvestments |
At December 31, 2022, the Company held $ 22 million | text | 22 | monetaryItemType | text: <entity> 22 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2022, the Company held $ 22 million </context> | us-gaap:DebtSecurities |
. The Company holds a 51 % ownership interest in and is the managing member of a joint venture entity formed in October 2015 that owns and leases outpatient medical buildings (“Ventures V”). The Company classifies Ventures V as a VIE due to the non-managing member lacking substantive participation rights in the management of Ventures V or kick-out rights over the managing member. The Company consolidates Ventures V as the primary beneficiary because it has the ability to control the activities that most significantly impact the VIE’s economic performance. The assets of Ventures V primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of capital expenditures for the properties. Assets generated by Ventures V may only be used to settle its contractual obligations. | text | 51 | percentItemType | text: <entity> 51 </entity> <entity type> percentItemType </entity type> <context> . The Company holds a 51 % ownership interest in and is the managing member of a joint venture entity formed in October 2015 that owns and leases outpatient medical buildings (“Ventures V”). The Company classifies Ventures V as a VIE due to the non-managing member lacking substantive participation rights in the management of Ventures V or kick-out rights over the managing member. The Company consolidates Ventures V as the primary beneficiary because it has the ability to control the activities that most significantly impact the VIE’s economic performance. The assets of Ventures V primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of capital expenditures for the properties. Assets generated by Ventures V may only be used to settle its contractual obligations. </context> | us-gaap:VariableInterestEntityOwnershipPercentage |
. The Company holds a 51 % ownership interest in, and is the managing member of, a joint venture entity formed in August 2018 that owns and leases outpatient medical buildings (the “MSREI JV”). The MSREI JV is a VIE due to the non-managing member lacking substantive participation rights in the management of the joint venture or kick-out rights over the managing member. The Company consolidates the MSREI JV as the primary beneficiary because it has the ability to control the activities that most significantly impact the VIE’s economic performance. The assets of the MSREI JV primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of capital expenditures for the properties. Assets generated by the MSREI JV may only be used to settle its contractual obligations. | text | 51 | percentItemType | text: <entity> 51 </entity> <entity type> percentItemType </entity type> <context> . The Company holds a 51 % ownership interest in, and is the managing member of, a joint venture entity formed in August 2018 that owns and leases outpatient medical buildings (the “MSREI JV”). The MSREI JV is a VIE due to the non-managing member lacking substantive participation rights in the management of the joint venture or kick-out rights over the managing member. The Company consolidates the MSREI JV as the primary beneficiary because it has the ability to control the activities that most significantly impact the VIE’s economic performance. The assets of the MSREI JV primarily consist of leased properties (net real estate), rents receivable, and cash and cash equivalents; its obligations primarily consist of capital expenditures for the properties. Assets generated by the MSREI JV may only be used to settle its contractual obligations. </context> | us-gaap:VariableInterestEntityOwnershipPercentage |
. At December 31, 2023, the Company held a 98 % or greater ownership interest in multiple joint venture entities that owned and leased lab buildings (the “Lab JVs”). The Lab JVs were VIEs as the members shared in certain decisions of the entities, but substantially all of the activities were performed on behalf of the Company. The Company consolidated the Lab JVs as the primary beneficiary because it had the ability to control the activities that most significantly impacted these VIEs’ economic performance. The assets of the Lab JVs primarily consisted of leased properties (net real estate), rents receivable, and cash and cash equivalents; their obligations primarily consisted of capital expenditures for the properties. Assets generated by the Lab JVs were only used to settle their contractual obligations. In April 2024, the Company acquired the noncontrolling interests associated with these entities (see Note 13) and these entities are no longer included in the VIE assets and liabilities as of December 31, 2024. | text | 98 | percentItemType | text: <entity> 98 </entity> <entity type> percentItemType </entity type> <context> . At December 31, 2023, the Company held a 98 % or greater ownership interest in multiple joint venture entities that owned and leased lab buildings (the “Lab JVs”). The Lab JVs were VIEs as the members shared in certain decisions of the entities, but substantially all of the activities were performed on behalf of the Company. The Company consolidated the Lab JVs as the primary beneficiary because it had the ability to control the activities that most significantly impacted these VIEs’ economic performance. The assets of the Lab JVs primarily consisted of leased properties (net real estate), rents receivable, and cash and cash equivalents; their obligations primarily consisted of capital expenditures for the properties. Assets generated by the Lab JVs were only used to settle their contractual obligations. In April 2024, the Company acquired the noncontrolling interests associated with these entities (see Note 13) and these entities are no longer included in the VIE assets and liabilities as of December 31, 2024. </context> | us-gaap:VariableInterestEntityOwnershipPercentage |
The Company uses derivative instruments to mitigate the effects of interest rate fluctuations on specific forecasted transactions as well as recognized financial obligations or assets. Utilizing derivative instruments allows the Company to manage the risk of fluctuations in interest rates and their related potential impact on future earnings and cash flows. The Company does not use derivative instruments for speculative or trading purposes. At December 31, 2024, a one percentage point increase or decrease in the underlying interest rate curve would result in a corresponding increase or decrease in the fair value of the derivative instruments by up to $ 53 million. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> The Company uses derivative instruments to mitigate the effects of interest rate fluctuations on specific forecasted transactions as well as recognized financial obligations or assets. Utilizing derivative instruments allows the Company to manage the risk of fluctuations in interest rates and their related potential impact on future earnings and cash flows. The Company does not use derivative instruments for speculative or trading purposes. At December 31, 2024, a one percentage point increase or decrease in the underlying interest rate curve would result in a corresponding increase or decrease in the fair value of the derivative instruments by up to $ 53 million. </context> | us-gaap:AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions |
During the year ended December 31, 2022, the Company recognized a $ 2 million increase in the fair value of its interest rate cap instruments within other income (expense), net. In April 2022, the Company terminated these interest rate cap instruments and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026 on $ 142 million of variable rate mortgage debt secured by a portfolio of outpatient medical buildings (see Note 11). In February 2023, the Company modified these two interest rate swap instruments to reflect the change in the related variable rate mortgage debt’s interest rate benchmarks from LIBOR to SOFR (see Note 11). | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2022, the Company recognized a $ 2 million increase in the fair value of its interest rate cap instruments within other income (expense), net. In April 2022, the Company terminated these interest rate cap instruments and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026 on $ 142 million of variable rate mortgage debt secured by a portfolio of outpatient medical buildings (see Note 11). In February 2023, the Company modified these two interest rate swap instruments to reflect the change in the related variable rate mortgage debt’s interest rate benchmarks from LIBOR to SOFR (see Note 11). </context> | us-gaap:AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions |
During the year ended December 31, 2022, the Company recognized a $ 2 million increase in the fair value of its interest rate cap instruments within other income (expense), net. In April 2022, the Company terminated these interest rate cap instruments and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026 on $ 142 million of variable rate mortgage debt secured by a portfolio of outpatient medical buildings (see Note 11). In February 2023, the Company modified these two interest rate swap instruments to reflect the change in the related variable rate mortgage debt’s interest rate benchmarks from LIBOR to SOFR (see Note 11). | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> During the year ended December 31, 2022, the Company recognized a $ 2 million increase in the fair value of its interest rate cap instruments within other income (expense), net. In April 2022, the Company terminated these interest rate cap instruments and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026 on $ 142 million of variable rate mortgage debt secured by a portfolio of outpatient medical buildings (see Note 11). In February 2023, the Company modified these two interest rate swap instruments to reflect the change in the related variable rate mortgage debt’s interest rate benchmarks from LIBOR to SOFR (see Note 11). </context> | us-gaap:NumberOfInterestRateDerivativesHeld |
During the year ended December 31, 2022, the Company recognized a $ 2 million increase in the fair value of its interest rate cap instruments within other income (expense), net. In April 2022, the Company terminated these interest rate cap instruments and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026 on $ 142 million of variable rate mortgage debt secured by a portfolio of outpatient medical buildings (see Note 11). In February 2023, the Company modified these two interest rate swap instruments to reflect the change in the related variable rate mortgage debt’s interest rate benchmarks from LIBOR to SOFR (see Note 11). | text | 142 | monetaryItemType | text: <entity> 142 </entity> <entity type> monetaryItemType </entity type> <context> During the year ended December 31, 2022, the Company recognized a $ 2 million increase in the fair value of its interest rate cap instruments within other income (expense), net. In April 2022, the Company terminated these interest rate cap instruments and entered into two interest rate swap instruments that are designated as cash flow hedges and mature in May 2026 on $ 142 million of variable rate mortgage debt secured by a portfolio of outpatient medical buildings (see Note 11). In February 2023, the Company modified these two interest rate swap instruments to reflect the change in the related variable rate mortgage debt’s interest rate benchmarks from LIBOR to SOFR (see Note 11). </context> | us-gaap:DerivativeNotionalAmount |
In August 2022, the Company entered into two forward-starting interest rate swap instruments on the $ 500 million aggregate principal amount of the 2027 Term Loans (see Note 11). The interest rate swap instruments are designated as cash flow hedges. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> In August 2022, the Company entered into two forward-starting interest rate swap instruments on the $ 500 million aggregate principal amount of the 2027 Term Loans (see Note 11). The interest rate swap instruments are designated as cash flow hedges. </context> | us-gaap:NumberOfInterestRateDerivativesHeld |
In August 2022, the Company entered into two forward-starting interest rate swap instruments on the $ 500 million aggregate principal amount of the 2027 Term Loans (see Note 11). The interest rate swap instruments are designated as cash flow hedges. | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In August 2022, the Company entered into two forward-starting interest rate swap instruments on the $ 500 million aggregate principal amount of the 2027 Term Loans (see Note 11). The interest rate swap instruments are designated as cash flow hedges. </context> | us-gaap:DerivativeNotionalAmount |
In January 2024, the Company entered into forward-starting interest rate swap instruments on the $ 750 million aggregate principal amount of the 2029 Term Loan (see Note 11). The interest rate swap instruments are designated as cash flow hedges. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In January 2024, the Company entered into forward-starting interest rate swap instruments on the $ 750 million aggregate principal amount of the 2029 Term Loan (see Note 11). The interest rate swap instruments are designated as cash flow hedges. </context> | us-gaap:DerivativeAssetNotionalAmount |
Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. </context> | us-gaap:NumberOfInterestRateDerivativesHeld |
Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. | text | 400 | monetaryItemType | text: <entity> 400 </entity> <entity type> monetaryItemType </entity type> <context> Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. </context> | us-gaap:DerivativeAssetNotionalAmount |
Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. </context> | us-gaap:NumberOfInterestRateDerivativesHeld |
Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. | text | 36 | monetaryItemType | text: <entity> 36 </entity> <entity type> monetaryItemType </entity type> <context> Additionally, on March 1, 2024, concurrently with the consummation of the Merger, the Company acquired: (i) three interest rate swap instruments on the $ 400 million aggregate principal amount of the 2028 Term Loan that are designated as cash flow hedges and (ii) one interest rate swap instrument on $ 36 million of variable rate mortgage debt that was designated as a cash flow hedge (see Note 11) prior to its maturity in October 2024. </context> | us-gaap:DebtInstrumentFaceAmount |
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