Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Summary information by reportable business segment

Summary information by reportable business segment is as follows:

For the year ended December 31, 2013:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	875,877	$	—		$	450,107	$	—		$	1,325,984
Resident fees and services	—		1,406,005			—		—			1,406,005
Medical office building and other services revenue	4,469		—			12,077		1,263			17,809
Income from loans and investments	—		—			—		58,208			58,208
Interest and other income	—		—			—		2,047			2,047
Total revenues	$	880,346	$	1,406,005		$	462,184	$	61,518		$	2,810,053
Total revenues	$	880,346	$	1,406,005		$	462,184	$	61,518		$	2,810,053
Less:
Interest and other income	—		—			—		2,047			2,047
Property-level operating expenses	—		956,684			152,948		—			1,109,632
Medical office building services costs	—		—			8,315		—			8,315
Segment NOI	880,346		449,321			300,921		59,471			1,690,059
Income (loss) from unconsolidated entities	475		(1,980		)	1,451		(454		)	(508		)
Segment profit	$	880,821	$	447,341		$	302,372	$	59,017		1,689,551
Interest and other income											2,047
Interest expense											(334,484		)
Depreciation and amortization											(721,959		)
General, administrative and professional fees											(115,106		)
Loss on extinguishment of debt, net											(1,201		)
Merger-related expenses and deal costs											(21,634		)
Other											(18,732		)
Income tax benefit											11,828
Discontinued operations											(35,421		)
Net income											$	454,889

For the year ended December 31, 2012:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other		Total
	(In thousands)
Revenues:
Rental income	$	818,000	$	—		$	360,849	$	—	$	1,178,849
Resident fees and services	—		1,227,124			—		—		1,227,124
Medical office building and other services revenue	4,438		—			16,303		—		20,741
Income from loans and investments	—		—			—		39,913		39,913
Interest and other income	—		—			—		1,106		1,106
Total revenues	$	822,438	$	1,227,124		$	377,152	$	41,019	$	2,467,733
Total revenues	$	822,438	$	1,227,124		$	377,152	$	41,019	$	2,467,733
Less:
Interest and other income	—		—			—		1,106		1,106
Property-level operating expenses	—		841,022			125,400		—		966,422
Medical office building services costs	—		—			9,883		—		9,883
Segment NOI	822,438		386,102			241,869		39,913		1,490,322
Income (loss) from unconsolidated entities	1,313		(48		)	16,889		—		18,154
Segment profit	$	823,751	$	386,054		$	258,758	$	39,913	1,508,476
Interest and other income										1,106
Interest expense										(288,276		)
Depreciation and amortization										(714,505		)
General, administrative and professional fees										(98,510		)
Loss on extinguishment of debt, net										(37,640		)
Merger-related expenses and deal costs										(63,183		)
Other										(6,940		)
Income tax benefit										6,282
Discontinued operations										54,965
Net income										$	361,775

For the year ended December 31, 2011:

	Triple-Net Leased Properties		Senior Living Operations		MOB Operations			All Other		Total
	(In thousands)
Revenues:
Rental income	$	627,723	$	—	$	166,079		$	—	$	793,802
Resident fees and services	—		865,800		—			—		865,800
Medical office building and other services revenue	2,217		—		34,254			—		36,471
Income from loans and investments	—		—		—			34,415		34,415
Interest and other income	—		—		—			1,216		1,216
Total revenues	$	629,940	$	865,800	$	200,333		$	35,631	$	1,731,704
Total revenues	$	629,940	$	865,800	$	200,333		$	35,631	$	1,731,704
Less:
Interest and other income	—		—		—			1,216		1,216
Property-level operating expenses	—		588,095		56,987			—		645,082
Medical office building services costs	—		—		27,082			—		27,082
Segment NOI	629,940		277,705		116,264			34,415		1,058,324
Income (loss) from unconsolidated entities	295		—		(347		)	—		(52		)
Segment profit	$	630,235	$	277,705	$	115,917		$	34,415	1,058,272
Interest and other income										1,216
Interest expense										(223,804		)
Depreciation and amortization										(444,193		)
General, administrative and professional fees										(74,537		)
Loss on extinguishment of debt, net										(27,604		)
Litigation proceeds, net										202,259
Merger-related expenses and deal costs										(153,923		)
Other										(7,270		)
Income tax benefit										30,660
Discontinued operations										2,185
Net income										$	363,261

Assets by reportable business segment

Assets by reportable business segment are as follows:

	As of December 31,
	2013				2012
	(Dollars in thousands)
Assets:
Triple-net leased properties	$	8,919,360	45.2	%	$	8,368,186	44.1	%
Senior living operations	6,648,754		33.7		6,274,207		33.1
MOB operations	3,701,344		18.8		3,703,453		19.5
All other assets	462,036		2.3		634,154		3.3
Total assets	$	19,731,494	100.0	%	$	18,980,000	100.0	%

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

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

	For the Year Ended December 31,
	2013		2012 (1)		2011
	(In thousands)
Capital expenditures:
Triple-net leased properties	$	847,945	$	139,680	$	133,761
Senior living operations	576,459		758,371		370,455
MOB operations	189,953		1,003,865		125,453
Total capital expenditures	$	1,614,357	$	1,901,916	$	629,669

(1) Includes funds held in a Code Section 1031 exchange escrow account with a qualified intermediary as follows: triple-net leased – $58.1 million; senior living – $64.7 million; and MOB – $11.2 million.

Revenues from external customers by geographic area

Geographic information regarding our operations is as follows:

	For the Year Ended December 31,
	2013		2012		2011
	(In thousands)
Revenues:
United States	$	2,716,835	$	2,371,764	$	1,639,665
Canada	93,218		95,969		92,039
Total revenues	$	2,810,053	$	2,467,733	$	1,731,704

Net real estate property by geographic area

	As of December 31,
	2013		2012
	(In thousands)
Net real estate property:
United States	$	17,705,962	$	16,711,508
Canada	369,624		400,024
Total net real estate property	$	18,075,586	$	17,111,532