SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2014

Summary information by reportable business segment

For the three months ended June 30, 2014:



	Triple-Net Leased Properties		Senior Living Operations		MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	242,726	$	—	$	114,890	$	—		$	357,616
Resident fees and services	—		374,473		—		—			374,473
Medical office building and other services revenue	1,145		—		2,722		500			4,367
Income from loans and investments	—		—		—		14,625			14,625
Interest and other income	—		—		—		173			173
Total revenues	$	243,871	$	374,473	$	117,612	$	15,298		$	751,254
Total revenues	$	243,871	$	374,473	$	117,612	$	15,298		$	751,254
Less:
Interest and other income	—		—		—		173			173
Property-level operating expenses	—		249,424		39,335		—			288,759
Medical office building services costs	—		—		1,626		—			1,626
Segment NOI	243,871		125,049		76,651		15,125			460,696
Income (loss) from unconsolidated entities	17		160		307		(136		)	348
Segment profit	$	243,888	$	125,209	$	76,958	$	14,989		461,044
Interest and other income										173
Interest expense										(91,501		)
Depreciation and amortization										(190,818		)
General, administrative and professional fees										(31,306		)
Loss on extinguishment of debt, net										(2,924		)
Merger-related expenses and deal costs										(9,599		)
Other										(4,863		)
Income tax expense										(3,274		)
Discontinued operations										(255		)
Gain on real estate dispositions										11,889
Net income										$	138,566

For the three months ended June 30, 2013:



	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	213,171	$	—		$	110,277	$	—		$	323,448
Resident fees and services	—		341,594			—		—			341,594
Medical office building and other services revenue	1,115		—			2,159		263			3,537
Income from loans and investments	—		—			—		14,733			14,733
Interest and other income	—		—			—		797			797
Total revenues	$	214,286	$	341,594		$	112,436	$	15,793		$	684,109
Total revenues	$	214,286	$	341,594		$	112,436	$	15,793		$	684,109
Less:
Interest and other income	—		—			—		797			797
Property-level operating expenses	—		231,337			38,151		—			269,488
Medical office building services costs	—		—			1,667		—			1,667
Segment NOI	214,286		110,257			72,618		14,996			412,157
Income (loss) from unconsolidated entities	183		(541		)	43		(191		)	(506		)
Segment profit	$	214,469	$	109,716		$	72,661	$	14,805		411,651
Interest and other income											797
Interest expense											(82,237		)
Depreciation and amortization											(171,527		)
General, administrative and professional fees											(27,324		)
Gain on extinguishment of debt, net											720
Merger-related expenses and deal costs											(6,667		)
Other											(4,385		)
Income tax benefit											12,064
Discontinued operations											(18,559		)
Net income											$	114,533

For the six months ended June 30, 2014:



	Triple-Net Leased Properties		Senior Living Operations		MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	480,572	$	—	$	230,113	$	—		$	710,685
Resident fees and services	—		745,534		—		—			745,534
Medical office building and other services revenue	2,293		—		7,374		1,000			10,667
Income from loans and investments	—		—		—		25,392			25,392
Interest and other income	—		—		—		446			446
Total revenues	$	482,865	$	745,534	$	237,487	$	26,838		$	1,492,724
Total revenues	$	482,865	$	745,534	$	237,487	$	26,838		$	1,492,724
Less:
Interest and other income	—		—		—		446			446
Property-level operating expenses	—		497,719		78,680		—			576,399
Medical office building services costs	—		—		4,997		—			4,997
Segment NOI	482,865		247,815		153,810		26,392			910,882
Income (loss) from unconsolidated entities	586		16		260		(266		)	596
Segment profit	$	483,451	$	247,831	$	154,070	$	26,126		911,478
Interest and other income										446
Interest expense										(179,342		)
Depreciation and amortization										(384,412		)
General, administrative and professional fees										(64,172		)
Loss on extinguishment of debt, net										(2,665		)
Merger-related expenses and deal costs										(20,359		)
Other										(10,092		)
Income tax expense										(6,707		)
Discontinued operations										2,776
Gain on real estate dispositions										12,889
Net income										$	259,840

For the six months ended June 30, 2013:



	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	425,705	$	—		$	220,693	$	—		$	646,398
Resident fees and services	—		680,764			—		—			680,764
Medical office building and other services revenue	2,226		—			4,696		263			7,185
Income from loans and investments	—		—			—		30,836			30,836
Interest and other income	—		—			—		1,835			1,835
Total revenues	$	427,931	$	680,764		$	225,389	$	32,934		$	1,367,018
Total revenues	$	427,931	$	680,764		$	225,389	$	32,934		$	1,367,018
Less:
Interest and other income	—		—			—		1,835			1,835
Property-level operating expenses	—		462,245			74,444		—			536,689
Medical office building services costs	—		—			3,306		—			3,306
Segment NOI	427,931		218,519			147,639		31,099			825,188
Income (loss) from unconsolidated entities	370		(1,141		)	1,385		(191		)	423
Segment profit	$	428,301	$	217,378		$	149,024	$	30,908		825,611
Interest and other income											1,835
Interest expense											(160,871		)
Depreciation and amortization											(346,995		)
General, administrative and professional fees											(56,098		)
Gain on extinguishment of debt, net											720
Merger-related expenses and deal costs											(10,929		)
Other											(8,972		)
Income tax benefit											10,320
Discontinued operations											(26,990		)
Net income											$	227,631

Capital expenditures, including investments in real estate property and development project expenditures, by reportable business segment are as follows:



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2014		2013		2014		2013
	(In thousands)
Capital expenditures:
Triple-net leased properties	$	57,380	$	31,824	$	249,432	$	45,004
Senior living operations	62,317		224,921		79,180		245,089
MOB operations	9,830		10,062		22,863		74,272
Total capital expenditures	$	129,527	$	266,807	$	351,475	$	364,365

Revenues from external customers and net real estate property by geographic area

Geographic information regarding our operations is as follows:



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2014		2013		2014		2013
	(In thousands)
Revenues:
United States	$	724,725	$	660,657	$	1,444,833	$	1,320,186
Canada	21,821		23,452		43,038		46,832
United Kingdom	4,708		—		4,853		—
Total revenues	$	751,254	$	684,109	$	1,492,724	$	1,367,018



	As of June 30, 2014		As of December 31, 2013
	(In thousands)
Net real estate property:
United States	$	17,336,386	$	17,705,962
Canada	362,736		369,624
United Kingdom	187,148		—
Total net real estate property	$	17,886,270	$	18,075,586

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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