Segment Information (Tables)

9 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

Summary information by business segment

For the three months ended September 30, 2011:

	Triple-Net		Senior
	Leased		Living		MOB		All
	Properties		Operations		Operations		Other		Total
	(In thousands)
Revenues:
Rental income	$	211,479	$	—	$	58,398	$	—	$	269,877
Resident fees and services		—		276,364		—		—		276,364
Medical office building and other services revenue		1,109		—		8,162		—		9,271
Income from loans and investments		—		—		—		10,072		10,072
Interest and other income		—		—		—		373		373
Total revenues	$	212,588	$	276,364	$	66,560	$	10,445	$	565,957
Total revenues	$	212,588	$	276,364	$	66,560	$	10,445	$	565,957
Less:
Interest and other income		—		—		—		373		373
Property-level operating expenses		—		188,856		20,305		—		209,161
Medical office building services costs		—		—		6,347		—		6,347
Segment NOI		212,588		87,508		39,908		10,072		350,076
Income from unconsolidated entities		121		—		61		—		182
Segment profit	$	212,709	$	87,508	$	39,969	$	10,072		350,258
Interest and other income										373
Interest expense										(73,756	)
Depreciation and amortization										(161,027	)
General, administrative and professional fees										(20,624	)
Loss on extinguishment of debt										(8,685	)
Litigation proceeds, net										85,327
Merger-related expenses and deal costs										(69,350	)
Other										(14,436	)
Income tax benefit										13,904
Net income									$	101,984

For the three months ended September 30, 2010:

	Triple-Net		Senior
	Leased		Living		MOB			All
	Properties		Operations		Operations			Other		Total
	(In thousands)
Revenues:
Rental income	$	117,906	$	—	$	22,817		$	—	$	140,723
Resident fees and services		—		113,182		—			—		113,182
Medical office building and other services revenue		—		—		6,711			—		6,711
Income from loans and investments		—		—		—			4,014		4,014
Interest and other income		—		—		—			35		35
Total revenues	$	117,906	$	113,182	$	29,528		$	4,049	$	264,665
Total revenues	$	117,906	$	113,182	$	29,528		$	4,049	$	264,665
Less:
Interest and other income		—		—		—			35		35
Property-level operating expenses		—		74,066		7,941			—		82,007
Medical office building services costs		—		—		4,633			—		4,633
Segment NOI		117,906		39,116		16,954			4,014		177,990
Loss from unconsolidated entities		—		—		(392	)		—		(392	)
Segment profit	$	117,906	$	39,116	$	16,562		$	4,014		177,598
Interest and other income											35
Interest expense											(45,519	)
Depreciation and amortization											(52,104	)
General, administrative and professional fees											(15,278	)
Merger-related expenses and deal costs											(5,142	)
Other											419
Income tax expense											(1,657	)
Discontinued operations											542
Net income										$	58,894

For the nine months ended September 30, 2011:

	Triple-Net		Senior
	Leased		Living		MOB			All
	Properties		Operations		Operations			Other		Total
	(In thousands)
Revenues:
Rental income	$	450,211	$	—	$	106,392		$	—	$	556,603
Resident fees and services		—		593,348		—			—		593,348
Medical office building and other services revenue		1,109		—		24,941			—		26,050
Income from loans and investments		—		—		—			24,548		24,548
Interest and other income		—		—		—			529		529
Total revenues	$	451,320	$	593,348	$	131,333		$	25,077	$	1,201,078
Total revenues	$	451,320	$	593,348	$	131,333		$	25,077	$	1,201,078
Less:
Interest and other income		—		—		—			529		529
Property-level operating expenses		—		403,706		37,259			—		440,965
Medical office building services costs		—		—		19,837			—		19,837
Segment NOI		451,320		189,642		74,237			24,548		739,747
Income (loss) from unconsolidated entities		121		—		(192	)		—		(71	)
Segment profit	$	451,441	$	189,642	$	74,045		$	24,548		739,676
Interest and other income											529
Interest expense											(170,046	)
Depreciation and amortization											(293,541	)
General, administrative and professional fees											(51,010	)
Loss on extinguishment of debt											(25,211	)
Litigation proceeds, net											85,327
Merger-related expenses and deal costs											(131,606	)
Other											(6,664	)
Income tax benefit											23,310
Net income										$	170,764

For the nine months ended September 30, 2010:

	Triple-Net		Senior
	Leased		Living		MOB			All
	Properties		Operations		Operations			Other		Total
	(In thousands)
Revenues:
Rental income	$	351,625	$	—	$	47,246		$	—	$	398,871
Resident fees and services		—		331,535		—			—		331,535
Medical office building and other services revenue		—		—		6,711			—		6,711
Income from loans and investments		—		—		—			11,336		11,336
Interest and other income		—		—		—			420		420
Total revenues	$	351,625	$	331,535	$	53,957		$	11,756	$	748,873
Total revenues	$	351,625	$	331,535	$	53,957		$	11,756	$	748,873
Less:
Interest and other income		—		—		—			420		420
Property-level operating expenses		—		219,802		16,267			—		236,069
Medical office building services costs		—		—		4,633			—		4,633
Segment NOI		351,625		111,733		33,057			11,336		507,751
Loss from unconsolidated entities		—		—		(392	)		—		(392	)
Segment profit	$	351,625	$	111,733	$	32,665		$	11,336		507,359
Interest and other income											420
Interest expense											(133,449	)
Depreciation and amortization											(154,458	)
General, administrative and professional fees											(35,819	)
Loss on extinguishment of debt											(6,549	)
Merger-related expenses and deal costs											(11,668	)
Other											404
Income tax expense											(2,352	)
Discontinued operations											7,139
Net income										$	171,027

Assets by reportable business segment

	As of				As of
	September 30,				December 31,
	2011				2010
	(In thousands)
Assets:
Triple-net leased properties	$	8,652,706	50.3	%	$	2,474,612	43.0	%
Senior living operations		5,807,192	33.7			2,297,041	39.9
MOB operations		2,367,480	13.8			748,945	13.0
All other assets		378,392	2.2			237,423	4.1
Total assets	$	17,205,770	100.0	%	$	5,758,021	100.0	%

Capital expenditures

	For the Three Months				For the Nine Months
	Ended September 30,				Ended September 30,
	2011		2010		2011		2010
	(In thousands)
Capital expenditures:
Triple-net leased properties	$	68,604	$	211	$	69,831	$	12,303
Senior living operations		20,842		3,889		296,446		6,782
MOB operations		23,432		218,307		30,301		233,315
Total capital expenditures	$	112,878	$	222,407	$	396,578	$	252,400

Revenue

	For the Three Months				For the Nine Months
	Ended September 30,				Ended September 30,
	2011		2010		2011		2010
	(In thousands)
Revenues:
United States	$	542,533	$	246,358	$	1,132,047	$	695,252
Canada		23,424		18,307		69,031		53,621
Total revenues	$	565,957	$	264,665	$	1,201,078	$	748,873

Net real estate property

	As of		As of
	September 30,		December 31,
	2011		2010
	(In thousands)
Net real estate property:
United States	$	15,598,457	$	4,857,510
Canada		397,585		422,009
Total net real estate property	$	15,996,042	$	5,279,519