XML 17 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Rental income:        
Triple-net leased $ 213,258 $ 210,119 $ 422,585 $ 424,606
Office 186,240 144,087 372,135 288,223
Total rental income 399,498 354,206 794,720 712,829
Resident fees and services 460,243 464,437 924,431 928,413
Office building and other services revenue 3,179 5,504 6,585 12,689
Income from loans and investments 32,368 24,146 52,514 46,532
Interest and other income 202 111 683 230
Total revenues 895,490 848,404 1,778,933 1,700,693
Expenses        
Interest 113,572 103,665 222,376 206,938
Depreciation and amortization 224,108 221,961 441,891 458,348
Property-level operating expenses:        
Senior living 308,625 307,989 620,698 620,530
Office 57,205 43,966 114,119 87,647
Total property-level operating expenses 365,830 351,955 734,817 708,177
Office building services costs 552 1,852 1,290 5,303
General, administrative and professional fees 33,282 32,094 67,243 63,820
Loss on extinguishment of debt, net 36 2,468 345 2,782
Merger-related expenses and deal costs 6,043 7,224 8,099 8,856
Other 1,848 2,303 3,036 6,471
Total expenses 745,271 723,522 1,479,097 1,460,695
Income before unconsolidated entities, income taxes, discontinued operations, real estate dispositions and noncontrolling interests 150,219 124,882 299,836 239,998
(Loss) income from unconsolidated entities (106) 1,418 3,044 1,220
Income tax benefit 2,159 11,549 5,304 19,970
Income from continuing operations 152,272 137,849 308,184 261,188
Discontinued operations (23) (148) (76) (637)
Gain on real estate dispositions 719 5,739 44,008 31,923
Net income 152,968 143,440 352,116 292,474
Net income attributable to noncontrolling interests 1,137 278 2,158 332
Net income attributable to common stockholders $ 151,831 $ 143,162 $ 349,958 $ 292,142
Basic:        
Income from continuing operations (in usd per share) $ 0.43 $ 0.41 $ 0.87 $ 0.77
Net income attributable to common stockholders (in usd per share) 0.43 0.42 0.99 0.87
Diluted:        
Income from continuing operations (in usd per share) 0.42 0.40 0.86 0.77
Net income attributable to common stockholders (in usd per share) $ 0.42 $ 0.42 $ 0.98 $ 0.86
Weighted average shares used in computing earnings per common share:        
Basic (in shares) 355,024 338,901 354,719 337,230
Diluted (in shares) 358,311 342,571 357,919 340,851
Dividends declared per common share (in usd per share) $ 0.775 $ 0.73 $ 1.55 $ 1.46