Item 6. Selected Financial Data

5K characters. Original on sec.gov · Markdown

Item 6. Selected Financial Data

(not covered by Report of Independent Registered Public Accounting Firm)

(dollars in thousands, except for per share data)

The following table sets forth our selected historical consolidated financial information for each of the five years in the period ended December 31, 2020. The statements of income and comprehensive income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2020, 2019 and 2018 and the balance sheet data as of December 31, 2020 and 2019 were derived from our audited consolidated financial statements included elsewhere in this Form 10-K. The statements of income and comprehensive income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2017 and 2016, and the balance sheet data as of December 31, 2018, 2017 and 2016 were derived from our audited consolidated financial statements that are not included in this Form 10-K.

The selected financial data presented below is not necessarily indicative of results of future operations and should be read in conjunction with our consolidated financial statements and the information included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Form 10-K.

-40-

Table of Contents


As of or for the Years Ended December 31,	2020		2019		2018		2017		2016
Total assets (book value)	$	20,740,285	$	18,554,796	$	15,260,483	$	14,058,166	$	13,152,871
Cash and cash equivalents	824,476		54,011		10,387		6,898		9,420
Total debt	8,817,467		7,901,547		6,499,976		6,111,471		5,839,605
Total liabilities	9,722,555		8,750,638		7,139,505		6,667,458		6,365,818
Total equity	11,017,730		9,804,158		8,120,978		7,390,708		6,787,053
Net cash provided by operating activities	1,115,543		1,068,937		940,742		875,850		799,863
Net change in cash, cash equivalents and restricted cash	779,674		49,934		8,929		(3,539)		(34,652)
Total revenue	1,651,625		1,491,591		1,327,838		1,215,768		1,103,172
Net income	396,506		437,478		364,598		319,318		316,477
Preferred stock dividends	—		—		—		(3,911)		(27,080)
Excess of redemption value over carrying value of preferred shares redeemed	—		—		—		(13,373)		—
Net income available to common stockholders	395,486		436,482		363,614		301,514		288,491
Cash distributions paid to common stockholders	964,167		852,134		761,582		689,294		610,516
Net income per common share:
Basic	1.15		1.38		1.26		1.10		1.13
Diluted	1.14		1.38		1.26		1.10		1.13
Cash distributions paid per common share	2.794000		2.710500		2.630500		2.527000		2.391500
Cash distributions declared per common share	2.801000		2.717000		2.639000		2.537000		2.403000
Basic weighted average number of common shares outstanding	345,280,126		315,837,012		289,427,430		273,465,680		255,066,500
Diluted weighted average number of common shares outstanding	345,415,258		316,159,277		289,923,984		273,936,752		255,624,250

-41-

Table of Contents

Previous: Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities · Next: Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations