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Discontinued Operations and Dispositions of Real Estate (Tables)
 12 Months Ended
Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Summary of assets and liabilities transferred to QCP at the Spin-Off date
Summarized financial information for discontinued operations for the years ended December 31, 2016 and 2015 is as follows (in thousands):
 
Year Ended December 31,
 
2016
 
2015
Revenues:
 
 
 
Rental and related revenues
$
22,971

 
$
27,651

Tenant recoveries
1,233

 
1,464

Income from direct financing leases
384,752

 
572,835

Total revenues
408,956

 
601,950

Costs and expenses:
 
 
 
Depreciation and amortization
(4,892
)
 
(5,880
)
Operating
(3,367
)
 
(3,697
)
General and administrative
(67
)
 
(57
)
Transaction costs
(86,765
)
 
—

Impairments
—

 
(1,295,504
)
Other income (expense), net
71

 
70

Income (loss) before income taxes and income from impairments of equity method investments
313,936

 
(703,118
)
Income tax benefit (expense)
(48,181
)
 
(796
)
Income from equity method investment
—

 
50,723

Impairments of equity method investment
—

 
(45,895
)
Total discontinued operations
$
265,755

 
$
(699,086
)
Summary of quantitative information about fair value measurements
The following is a summary of the quantitative information about fair value measurements for the impairment related to the Company’s equity ownership interest in HCRMC using a discounted cash flow valuation model:
Description of Input(s) to the Valuation
 
Valuation Inputs
Range of revenue growth rates(1)
 
(1.8%)-3.0%
Range of occupancy growth rates(1)
 
(0.8%)-0.2%
Range of operating expense growth rates(1)
 
(1.1%)-3.1%
Discount rate
 
15.20%
Range of earnings multiples
 
6.0x-7.0x
_______________________________________
(1)
For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period.
The significant inputs to this valuation model included forecasted EBITDAR, rent coverage ratios and real estate capitalization rates and are summarized as follows (dollars in thousands):
Description of Input(s) to the Valuation
 
Senior Housing
DFL Valuation Inputs
 
Post-acute/
Skilled nursing
DFL Valuation Inputs
Range of EBITDAR
 
$75,000-$85,000
 
$385,000-$435,000
Range of rent coverage ratio
 
1.05x-1.15x
 
1.25x-1.35x
Range of real estate capitalization rate
 
6.25%-7.25%
 
7.50%-8.50%

In December 2015, the Company concluded that its equity investment in HCRMC was other