Segment Reporting

3 Months Ended

Mar. 31, 2014

Segment Reporting

Segment Reporting

Note 8.  Segment Reporting

We have four operating segments, of which three are separately reportable operating segments:  (i) triple net senior living communities that provide short term and long term residential care and dining services for residents, (ii) managed senior living communities that provide short term and long term residential care and dining services for residents and (iii) MOBs.  Our triple net and managed senior living communities include independent living communities and assisted living communities and skilled nursing facilities, or SNFs.  Properties in the MOB segment include medical office, clinic and biotech laboratory buildings.  The “All Other” category in the following table includes amounts related to corporate business activities and the operating results of certain properties that offer fitness, wellness and spa services to members.

	For the Three Months Ended March 31, 2014
	Triple Net  Senior Living  Communities			Managed  Senior Living  Communities			MOBs			All Other  Operations			Consolidated
Revenues:
Rental income	$	54,890		$	—		$	52,763		$	4,402		$	112,055
Residents fees and services	—			79,442			—			—			79,442
Total revenues	54,890			79,442			52,763			4,402			191,497
Expenses:
Property operating expenses	—			60,788			17,014			—			77,802
Depreciation	15,637			8,155			13,615			948			38,355
General and administrative	—			—			—			8,290			8,290
Acquisition related costs	—			—			—			122			122
Total expenses	15,637			68,943			30,629			9,360			124,569
Operating income (loss)	39,253			10,499			22,134			(4,958		)	66,928
Interest and other income	—			—			—			105			105
Interest expense	(6,388		)	(2,988		)	(1,337		)	(18,187		)	(28,900		)
Income (loss) before income tax expense and equity in earnings of an investee	32,865			7,511			20,797			(23,040		)	38,133
Income tax expense	—			—			—			(191		)	(191		)
Equity in losses of an investee	—			—			—			(97		)	(97		)
Income (loss) from continuing operations	32,865			7,511			20,797			(23,328		)	37,845
Discontinued operations:
Income from discontinued operations	—			—			1,300			—			1,300
Impairment of assets from discontinued operations	—			—			(721		)	—			(721		)
Income (loss) before gain on sale of properties	32,865			7,511			21,376			(23,328		)	38,424
Gain on sale of properties	156			—			—			—			156
Net income (loss)	$	33,021		$	7,511		$	21,376		$	(23,328	)	$	38,580
Total assets	$	1,843,510		$	949,468		$	1,717,000		$	268,689		$	4,778,667

	For the Three Months Ended March 31, 2013
	Triple Net  Senior Living  Communities			Managed  Senior Living  Communities			MOBs			All Other  Operations			Consolidated
Revenues:
Rental income	$	56,765		$	—		$	50,683		$	4,404		$	111,852
Residents fees and services	—			75,056			—			—			75,056
Total revenues	56,765			75,056			50,683			4,404			186,908
Expenses:
Property operating expenses	—			57,904			15,775			—			73,679
Depreciation	16,917			6,849			12,989			948			37,703
General and administrative	—			—			—			8,648			8,648
Acquisition related costs	—			—			—			1,903			1,903
Impairment of assets	—			—			—			1,304			1,304
Total expenses	16,917			64,753			28,764			12,803			123,237
Operating income (loss)	39,848			10,303			21,919			(8,399		)	63,671
Interest and other income	—			—			—			173			173
Interest expense	(6,463		)	(3,068		)	(1,348		)	(18,685		)	(29,564		)
Income (loss) before income tax expense and equity in earnings of an investee	33,385			7,235			20,571			(26,911		)	34,280
Income tax expense	—			—			—			(140		)	(140		)
Equity in earnings of an investee	—			—			—			76			76
Income (loss) from continuing operations	33,385			7,235			20,571			(26,975		)	34,216
Discontinued operations:
Income from discontinued operations	—			—			1,019			—			1,019
Net income (loss)	$	33,385		$	7,235		$	21,590		$	(26,975	)	$	35,235
Total assets	$	1,937,795		$	954,155		$	1,728,516		$	190,803		$	4,811,269