SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Summary information by reportable business segment

For the three months ended March 31, 2015:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations			All Other			Total
	(In thousands)
Revenues:
Rental income	$	266,206	$	—		$	136,990		$	—		$	403,196
Resident fees and services	—		446,914			—			—			446,914
Medical office building and other services revenue	1,136		—			8,858			549			10,543
Income from loans and investments	—		—			—			22,899			22,899
Interest and other income	—		—			—			472			472
Total revenues	$	267,342	$	446,914		$	145,848		$	23,920		$	884,024
Total revenues	$	267,342	$	446,914		$	145,848		$	23,920		$	884,024
Less:
Interest and other income	—		—			—			472			472
Property-level operating expenses	—		298,362			42,349			—			340,711
Medical office building services costs	—		—			6,918			—			6,918
Segment NOI	267,342		148,552			96,581			23,448			535,923
Income (loss) from unconsolidated entities	425		(422		)	(25		)	(229		)	(251		)
Segment profit	$	267,767	$	148,130		$	96,556		$	23,219		535,672
Interest and other income												472
Interest expense												(106,590		)
Depreciation and amortization												(247,441		)
General, administrative and professional fees												(34,330		)
Loss on extinguishment of debt, net												(21		)
Merger-related expenses and deal costs												(35,172		)
Other												(5,296		)
Income tax benefit												7,250
Discontinued operations												(423		)
Gain on real estate dispositions												6,686
Net income												$	120,807

For the three months ended March 31, 2014:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations			All Other			Total
	(In thousands)
Revenues:
Rental income	$	237,846	$	—		$	115,223		$	—		$	353,069
Resident fees and services	—		371,061			—			—			371,061
Medical office building and other services revenue	1,148		—			4,652			500			6,300
Income from loans and investments	—		—			—			10,767			10,767
Interest and other income	—		—			—			273			273
Total revenues	$	238,994	$	371,061		$	119,875		$	11,540		$	741,470
Total revenues	$	238,994	$	371,061		$	119,875		$	11,540		$	741,470
Less:
Interest and other income	—		—			—			273			273
Property-level operating expenses	—		248,295			39,345			—			287,640
Medical office building services costs	—		—			3,371			—			3,371
Segment NOI	238,994		122,766			77,159			11,267			450,186
Income (loss) from unconsolidated entities	569		(144		)	(47		)	(130		)	248
Segment profit	$	239,563	$	122,622		$	77,112		$	11,137		450,434
Interest and other income												273
Interest expense												(87,841		)
Depreciation and amortization												(193,594		)
General, administrative and professional fees												(32,866		)
Gain on extinguishment of debt, net												259
Merger-related expenses and deal costs												(10,760		)
Other												(5,229		)
Income tax expense												(3,433		)
Discontinued operations												3,031
Gain on real estate dispositions												1,000
Net income												$	121,274

Assets by reportable business segment are as follows:

	As of March 31, 2015				As of December 31, 2014
	(Dollars in thousands)
Assets:
Triple-net leased properties	$	9,684,808	39.6	%	$	9,176,159	43.2	%
Senior living operations	8,329,612		34.1		7,421,924		35.0
MOB operations	5,150,741		21.1		3,526,217		16.6
All other assets	1,274,710		5.2		1,101,871		5.2
Total assets	$	24,439,871	100.0	%	$	21,226,171	100.0	%

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

	For the Three Months Ended March 31,
	2015		2014
	(In thousands)
Capital expenditures:
Triple-net leased properties	$	457,018	$	192,052
Senior living operations	282,432		16,863
MOB operations	387,727		13,033
Total capital expenditures	$	1,127,177	$	221,948

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 March 31,
	2015		2014
	(In thousands)
Revenues:
United States	$	834,458	$	720,107
Canada	44,050		21,218
United Kingdom	5,516		145
Total revenues	$	884,024	$	741,470

	As of March 31, 2015		As of December 31, 2014
	(In thousands)
Net real estate property:
United States	$	20,016,240	$	17,547,255
Canada	1,158,811		1,269,710
United Kingdom	243,608		168,594
Total net real estate property	$	21,418,659	$	18,985,559