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Segment Disclosures (Tables)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Summary of Financial Information of Reportable Segments
The following tables summarize information for the reportable segments (in thousands):
For the three months ended March 31, 2018:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
74,289

 
$
144,670

 
$
99,622

 
$
123,935

 
$
30,316

 
$
—

 
$
472,832

Operating expenses
 
(1,045
)
 
(101,746
)
 
(21,809
)
 
(46,696
)
 
(1,256
)
 
—

 
(172,552
)
NOI
 
73,244

 
42,924

 
77,813

 
77,239

 
29,060

 
—

 
300,280

Adjustments to NOI(2)
 
(1,865
)
 
(1,607
)
 
(3,751
)
 
(1,071
)
 
(1,392
)
 
—

 
(9,686
)
Adjusted NOI
 
71,379

 
41,317

 
74,062

 
76,168

 
27,668

 
—

 
290,594

Addback adjustments
 
1,865

 
1,607

 
3,751

 
1,071

 
1,392

 
—

 
9,686

Interest income
 
—

 
—

 
—

 
—

 
6,365

 
—

 
6,365

Interest expense
 
(600
)
 
(988
)
 
(83
)
 
(120
)
 
(728
)
 
(72,583
)
 
(75,102
)
Depreciation and amortization
 
(21,906
)
 
(27,628
)
 
(36,080
)
 
(45,519
)
 
(12,117
)
 
—

 
(143,250
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(29,175
)
 
(29,175
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

 
(2,195
)
 
(2,195
)
Gain (loss) on sales of real estate, net
 
—

 
20,815

 
—

 
—

 
—

 
—

 
20,815

Other income (expense), net
 
—

 
—

 
—

 
—

 
(40,567
)
 
160

 
(40,407
)
Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
5,336

 
5,336

Equity income (loss) from unconsolidated JVs
 
—

 
—

 
—

 
—

 
570

 
—

 
570

Net income (loss)
 
$
50,738

 
$
35,123

 
$
41,650

 
$
31,600

 
$
(17,417
)
 
$
(98,457
)
 
$
43,237

_______________________________________
(1)
Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, deferral of community fees, net and termination fees.
For the three months ended March 31, 2017:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
100,034

 
$
140,228

 
$
85,321

 
$
118,371

 
$
29,883

 
$
—

 
$
473,837

Operating expenses
 
(1,111
)
 
(94,539
)
 
(17,319
)
 
(44,864
)
 
(1,248
)
 
—

 
(159,081
)
NOI
 
98,923

 
45,689

 
68,002

 
73,507

 
28,635

 
—

 
314,756

Adjustments to NOI(2)
 
(1,839
)
 
(310
)
 
(305
)
 
(961
)
 
(1,012
)
 
—

 
(4,427
)
Adjusted NOI
 
97,084

 
45,379

 
67,697

 
72,546

 
27,623

 
—

 
310,329

Addback adjustments
 
1,839

 
310

 
305

 
961

 
1,012

 
—

 
4,427

Interest income
 
—

 
—

 
—

 
—

 
18,331

 
—

 
18,331

Interest expense
 
(627
)
 
(4,596
)
 
(104
)
 
(129
)
 
(1,997
)
 
(79,265
)
 
(86,718
)
Depreciation and amortization
 
(26,411
)
 
(26,358
)
 
(33,791
)
 
(42,729
)
 
(7,265
)
 
—

 
(136,554
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(22,478
)
 
(22,478
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

 
(1,057
)
 
(1,057
)
Gain (loss) on sales of real estate, net
 
268,464

 
366

 
44,633

 
—

 
3,795

 
—

 
317,258

Other income (expense), net
 
—

 
—

 
—

 
—

 
50,895

 
313

 
51,208

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
6,162

 
6,162

Equity income (loss) from unconsolidated JVs
 
—

 
—

 
—

 
—

 
3,269

 
—

 
3,269

Net income (loss)
 
$
340,349

 
$
15,101

 
$
78,740

 
$
30,649

 
$
95,663

 
$
(96,325
)
 
$
464,177

_______________________________________
(1)
Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, deferral of community fees, net and termination fees.
Reconciliation of Company's Revenues by Segment
The following table summarizes the Company’s revenues by segment (in thousands):
 
 
Three Months Ended March 31,
Segment
 
2018
 
2017
Senior housing triple-net
 
$
74,289

 
$
100,034

SHOP
 
144,670

 
140,228

Life science
 
99,622

 
85,321

Medical office
 
123,935

 
118,371

Other non-reportable segments
 
36,681

 
48,214

Total revenues
 
$
479,197

 
$
492,168