XML 41 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenues:    
Rental income $ 145,784us-gaap_RealEstateRevenueNet $ 112,055us-gaap_RealEstateRevenueNet
Residents fees and services 82,793snh_ResidentsFeesAndServicesRevenue 79,442snh_ResidentsFeesAndServicesRevenue
Total revenues 228,577us-gaap_Revenues 191,497us-gaap_Revenues
Expenses:    
Property operating expenses 85,794us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment 77,802us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment
Depreciation 53,707us-gaap_DepreciationDepletionAndAmortization 38,355us-gaap_DepreciationDepletionAndAmortization
General and administrative 10,574us-gaap_GeneralAndAdministrativeExpense 8,290us-gaap_GeneralAndAdministrativeExpense
Acquisition related costs 1,158us-gaap_BusinessCombinationAcquisitionRelatedCosts 122us-gaap_BusinessCombinationAcquisitionRelatedCosts
Total expenses 151,233us-gaap_CostsAndExpenses 124,569us-gaap_CostsAndExpenses
Operating income 77,344us-gaap_OperatingIncomeLoss 66,928us-gaap_OperatingIncomeLoss
Interest and other income 75us-gaap_InterestAndOtherIncome 105us-gaap_InterestAndOtherIncome
Interest expense (35,942)us-gaap_InterestExpense (28,900)us-gaap_InterestExpense
Loss on extinguishment of debt (1,409)us-gaap_GainsLossesOnExtinguishmentOfDebt  
Gain on lease terminations 105us-gaap_GainLossOnContractTermination  
Income from continuing operations before income tax expense and equity in earnings of an investee 40,068us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 38,133us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (110)us-gaap_IncomeTaxExpenseBenefit (191)us-gaap_IncomeTaxExpenseBenefit
Equity in earnings of an investee 72us-gaap_IncomeLossFromEquityMethodInvestments (97)us-gaap_IncomeLossFromEquityMethodInvestments
Income from continuing operations 40,030us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 37,845us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:    
Income from discontinued operations (241)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 1,300us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
Loss on asset impairment from discontinued operations   (721)us-gaap_DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax
Income before gain on sale of properties 39,789us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple 38,424us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple
Gain on sale of properties   156us-gaap_GainLossOnSaleOfProperties
Net income 39,789us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 38,580us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Other comprehensive income:    
Change in net unrealized gain(loss) on investments 1,448us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax (1,921)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
Share of comprehensive income of an investee 45snh_OtherComprehensiveIncomeLossAttributableToEquityMethodInvesteeNetOfTax 19snh_OtherComprehensiveIncomeLossAttributableToEquityMethodInvesteeNetOfTax
Comprehensive income $ 41,282us-gaap_ComprehensiveIncomeNetOfTax $ 36,678us-gaap_ComprehensiveIncomeNetOfTax
Weighted average common shares outstanding (basic) (in shares) 221,375us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 188,026us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average common shares outstanding (diluted) (in shares) 221,397us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 188,045us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Net income per share:    
Income from continuing operations per share (in dollars per share) $ 0.18us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ 0.21us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
Net income per share (in dollars per share) $ 0.18us-gaap_EarningsPerShareBasicAndDiluted $ 0.21us-gaap_EarningsPerShareBasicAndDiluted