Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Summary information by reportable business segment

Summary information by reportable business segment is as follows:

	For the Year Ended December 31, 2016
	Triple-Net Leased Properties		Senior Living Operations		Office Operations		All Other		Total
	(In thousands)
Revenues:
Rental income	$	845,834	$	—	$	630,342	$	—	$	1,476,176
Resident fees and services	—		1,847,306		—		—		1,847,306
Office building and other services revenue	4,921		—		13,029		3,120		21,070
Income from loans and investments	—		—		—		98,094		98,094
Interest and other income	—		—		—		876		876
Total revenues	$	850,755	$	1,847,306	$	643,371	$	102,090	$	3,443,522
Total revenues	$	850,755	$	1,847,306	$	643,371	$	102,090	$	3,443,522
Less:
Interest and other income	—		—		—		876		876
Property-level operating expenses	—		1,242,978		191,784		—		1,434,762
Office building services costs	—		—		7,311		—		7,311
Segment NOI	850,755		604,328		444,276		101,214		2,000,573
Income from unconsolidated entities	2,363		1,265		590		140		4,358
Segment profit	$	853,118	$	605,593	$	444,866	$	101,354	2,004,931
Interest and other income									876
Interest expense									(419,740		)
Depreciation and amortization									(898,924		)
General, administrative and professional fees									(126,875		)
Loss on extinguishment of debt, net									(2,779		)
Merger-related expenses and deal costs									(24,635		)
Other									(9,988		)
Income tax benefit									31,343
Income from continuing operations									$	554,209

	For the Year Ended December 31, 2015
	Triple-Net Leased Properties			Senior Living Operations			Office Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	779,801		$	—		$	566,245	$	—		$	1,346,046
Resident fees and services	—			1,811,255			—		—			1,811,255
Office building and other services revenue	4,433			—			34,436		2,623			41,492
Income from loans and investments	—			—			—		86,553			86,553
Interest and other income	—			—			—		1,052			1,052
Total revenues	$	784,234		$	1,811,255		$	600,681	$	90,228		$	3,286,398
Total revenues	$	784,234		$	1,811,255		$	600,681	$	90,228		$	3,286,398
Less:
Interest and other income	—			—			—		1,052			1,052
Property-level operating expenses	—			1,209,415			174,225		—			1,383,640
Office building services costs	—			—			26,565		—			26,565
Segment NOI	784,234			601,840			399,891		89,176			1,875,141
(Loss) income from unconsolidated entities	(813		)	(526		)	369		(450		)	(1,420		)
Segment profit	$	783,421		$	601,314		$	400,260	$	88,726		1,873,721
Interest and other income												1,052
Interest expense												(367,114		)
Depreciation and amortization												(894,057		)
General, administrative and professional fees												(128,035		)
Loss on extinguishment of debt, net												(14,411		)
Merger-related expenses and deal costs												(102,944		)
Other												(17,957		)
Income tax benefit												39,284
Income from continuing operations												$	389,539

	For the Year Ended December 31, 2014
	Triple-Net Leased Properties		Senior Living Operations			Office Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	674,547	$	—		$	463,910	$	—		$	1,138,457
Resident fees and services	—		1,552,951			—		—			1,552,951
Office building and other services revenue	4,565		—			22,529		2,270			29,364
Income from loans and investments	—		—			—		51,778			51,778
Interest and other income	—		—			—		4,263			4,263
Total revenues	$	679,112	$	1,552,951		$	486,439	$	58,311		$	2,776,813
Total revenues	$	679,112	$	1,552,951		$	486,439	$	58,311		$	2,776,813
Less:
Interest and other income	—		—			—		4,263			4,263
Property-level operating expenses	—		1,036,556			158,832		—			1,195,388
Office building services costs	—		—			17,092		—			17,092
Segment NOI	679,112		516,395			310,515		54,048			1,560,070
Income (loss) from unconsolidated entities	859		(658		)	398		(738		)	(139		)
Segment profit	$	679,971	$	515,737		$	310,913	$	53,310		1,559,931
Interest and other income											4,263
Interest expense											(292,065		)
Depreciation and amortization											(725,216		)
General, administrative and professional fees											(121,738		)
Loss on extinguishment of debt, net											(5,564		)
Merger-related expenses and deal costs											(43,304		)
Other											(25,743		)
Income tax benefit											8,732
Income from continuing operations											$	359,296

Assets by reportable business segment

Assets by reportable business segment are as follows:

	As of December 31,
	2016				2015
	(Dollars in thousands)
Assets:
Triple-net leased properties	$	7,627,792	32.9	%	$	7,996,645	35.9	%
Senior living operations	7,826,262		33.8		8,022,206		36.0
Office operations	6,614,454		28.6		5,209,751		23.4
All other assets	1,098,092		4.7		1,033,316		4.7
Total assets	$	23,166,600	100.0	%	$	22,261,918	100.0	%

Capital expenditures

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,
	2016		2015		2014
	(In thousands)
Capital expenditures:
Triple-net leased properties	$	74,192	$	1,890,245	$	647,870
Senior living operations	105,614		382,877		977,997
Office operations	1,503,304		604,827		36,861
Total capital expenditures	$	1,683,110	$	2,877,949	$	1,662,728

Revenues from external customers by geographic area

Geographic information regarding our operations is as follows:

	For the Year Ended December 31,
	2016		2015		2014
	(In thousands)
Revenues:
United States	$	3,242,353	$	3,086,449	$	2,636,591
Canada	174,831		173,778		126,435
United Kingdom	26,338		26,171		13,787
Total revenues	$	3,443,522	$	3,286,398	$	2,776,813

Net real estate property by geographic area

	As of December 31,
	2016		2015
	(In thousands)
Net real estate property:
United States	$	19,105,939	$	18,271,829
Canada	1,037,105		1,039,561
United Kingdom	251,710		313,830
Total net real estate property	$	20,394,754	$	19,625,220