Dispositions of Real Estate and Discontinued Operations

6 Months Ended

Jun. 30, 2014

Dispositions of Real Estate and Discontinued Operations

Dispositions of Real Estate and Discontinued Operations

(4)   Dispositions of Real Estate and Discontinued Operations

During the six months ended June 30, 2014, the Company sold two post-acute/skilled nursing facilities for $22 million, a hospital for $17 million and a medical office building (“MOB”) for $145,000. During the six months ended June 30, 2013, the Company sold a senior housing facility for $4 million.

There were no assets classified as held for sale at June 30, 2014. At December 31, 2013, one hospital and two post-acute/skilled nursing facilities were classified as held for sale, with a carrying value of $10 million.

The following table summarizes operating income from discontinued operations and gain on sales of real estate included in discontinued operations (dollars in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2013		2014		2013
Rental and related revenues	$	4,824	$	1,810	$	9,908
Depreciation and amortization expenses	1,557		—		3,095
Operating expenses	927		54		1,846
Other expenses, net	399		20		795
Income before gain on sales of real estate, net of income taxes	$	1,941	$	1,736	$	4,172
Gain on sales of real estate, net of income taxes	$	887	$	28,010	$	887
Number of properties included in discontinued operations	16		2		16