XML 83 R72.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Disclosures - Summary Information for the Reportable Segments (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Jan. 31, 2020
USD ($)
facility
Sep. 30, 2020
USD ($)
property
Mar. 31, 2020
USD ($)
Sep. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
facility
property
Sep. 30, 2019
USD ($)
facility
Jan. 31, 2020
property
Dec. 31, 2019
facility
Oct. 31, 2019
property
Nov. 30, 2017
property
Segment Disclosure                    
Deferred tax assets valuation allowance   $ 31,000     $ 31,000          
Tax benefit recognized in conjunction with internal restructuring activities         51,000          
Tax benefit recognized from CARES Act         3,600          
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   597,739   $ 537,971 1,771,329 $ 1,465,692        
Government grant income   2,153     16,233          
Less: Interest income   (4,443)   (2,741) (12,361) (6,868)        
Healthpeak's share of unconsolidated joint venture total revenues   28,794   63,542 107,143 192,614        
Healthpeak's share of unconsolidated joint venture government grant income   295     1,099          
Noncontrolling interests' share of consolidated joint venture total revenues   (9,313)   (9,172) (27,451) (26,934)        
Operating expenses   (314,292)   (248,069) (1,006,146) (630,989)        
Healthpeak's share of unconsolidated joint venture operating expenses   (23,373)   (47,311) (83,427) (140,321)        
Noncontrolling interests' share of consolidated joint venture operating expenses   3,009   2,997 8,939 8,613        
Adjustments to NOI   (9,510)   (3,755) 70,864 (1,643)        
Adjusted NOI   271,059   293,462 846,222 860,164        
Plus: Adjustments to NOI   9,510   3,755 (70,864) 1,643        
Interest income   4,443   2,741 12,361 6,868        
Interest expense   (56,235)   (61,230) (172,161) (167,499)        
Depreciation and amortization   (173,630)   (171,944) (541,394) (469,191)        
General and administrative   (21,661)   (22,970) (67,730) (71,445)        
Transaction costs   (2,586)   (1,319) (18,061) (7,174)        
Impairments and loan loss reserves (recoveries), net   (34,550)   (38,257) (97,723) (115,653)        
Gain (loss) on sales of real estate, net   149 $ 165,000 (784) 247,881 18,708        
Loss on debt extinguishments   (17,921)   (35,017) (42,912) (36,152)        
Other income (expense), net   7,060   693 237,254 24,834        
Income tax benefit (expense)(3)   (24,174)   6,261 16,216 11,583        
Less: Government grant income   (2,153)     (16,233)          
Less: Healthpeak's share of unconsolidated joint venture NOI   (5,716)   (16,231) (24,815) (52,293)        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   6,304   6,175 18,512 18,321        
Equity income (loss) from unconsolidated joint ventures   (19,480)   (7,643) (48,545) (10,012)        
Net income (loss)   (59,581)   (42,308) 278,008 12,702        
Operating Segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   597,739   537,971 1,771,329 1,465,692        
Corporate Non-segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   0   0 0 0        
Government grant income   0     0          
Less: Interest income   0   0 0 0        
Healthpeak's share of unconsolidated joint venture total revenues   0   0 0 0        
Healthpeak's share of unconsolidated joint venture government grant income   0     0          
Noncontrolling interests' share of consolidated joint venture total revenues   0   0 0 0        
Operating expenses   0   0 0 0        
Healthpeak's share of unconsolidated joint venture operating expenses   0   0 0 0        
Noncontrolling interests' share of consolidated joint venture operating expenses   0   0 0 0        
Adjustments to NOI   0   0 0 0        
Adjusted NOI   0   0 0 0        
Plus: Adjustments to NOI   0   0 0 0        
Interest income   0   0 0 0        
Interest expense   (51,401)   (58,311) (157,883) (161,433)        
Depreciation and amortization   0   0 0 0        
General and administrative   (21,661)   (22,970) (67,730) (71,445)        
Transaction costs   (2,586)   (1,319) (18,061) (7,174)        
Impairments and loan loss reserves (recoveries), net   0   0 0 0        
Gain (loss) on sales of real estate, net   0   0 0 0        
Loss on debt extinguishments   (17,921)   (35,017) (42,912) (36,152)        
Other income (expense), net   2,765   (287) 4,569 11,037        
Income tax benefit (expense)(3)   (24,174)   6,261 16,216 11,583        
Less: Government grant income   0     0          
Less: Healthpeak's share of unconsolidated joint venture NOI   0   0 0 0        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   0   0 0 0        
Equity income (loss) from unconsolidated joint ventures   0   0 0 0        
Net income (loss)   (114,978)   (111,643) $ (265,801) $ (253,584)        
Senior Housing Triple-Net                    
Segment Disclosure                    
Number of facilities transitioned | facility         9 39        
Senior Housing Triple-Net | Operating Segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   24,558   47,956 $ 82,282 $ 156,592        
Government grant income   0     0          
Less: Interest income   0   0 0 0        
Healthpeak's share of unconsolidated joint venture total revenues   0   0 0 0        
Healthpeak's share of unconsolidated joint venture government grant income   0     0          
Noncontrolling interests' share of consolidated joint venture total revenues   0   0 0 (1)        
Operating expenses   (421)   (865) (1,453) (2,725)        
Healthpeak's share of unconsolidated joint venture operating expenses   0   0 0 0        
Noncontrolling interests' share of consolidated joint venture operating expenses   0   0 0 0        
Adjustments to NOI   93   (1,537) (3,240) 3,834        
Adjusted NOI   24,230   45,554 77,589 157,700        
Plus: Adjustments to NOI   (93)   1,537 3,240 (3,834)        
Interest income   0   0 0 0        
Interest expense   (45)   (106) (199) (901)        
Depreciation and amortization   (6,694)   (12,773) (21,031) (45,138)        
General and administrative   0   0 0 0        
Transaction costs   0   0 0 0        
Impairments and loan loss reserves (recoveries), net   (12,097)   (7,430) (17,774) (22,914)        
Gain (loss) on sales of real estate, net   0   0 164,043 3,557        
Loss on debt extinguishments   0   0 0 0        
Other income (expense), net   0   0 0 0        
Income tax benefit (expense)(3)   0   0 0 0        
Less: Government grant income   0     0          
Less: Healthpeak's share of unconsolidated joint venture NOI   0   0 0 0        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   0   0 0 1        
Equity income (loss) from unconsolidated joint ventures   0   0 0 0        
Net income (loss)   $ 5,301   26,782 $ 205,868 88,471        
SHOP                    
Segment Disclosure                    
Number of deconsolidating assets   19     19     19    
SHOP | Operating Segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   $ 149,615   212,275 $ 475,869 515,457        
Government grant income   392     2,601          
Less: Interest income   0   0 0 0        
Healthpeak's share of unconsolidated joint venture total revenues   23,800   4,943 74,249 16,514        
Healthpeak's share of unconsolidated joint venture government grant income   49     319          
Noncontrolling interests' share of consolidated joint venture total revenues   (459)   (515) (1,501) (1,510)        
Operating expenses   (130,729)   (166,201) (406,366) (400,608)        
Healthpeak's share of unconsolidated joint venture operating expenses   (18,280)   (3,816) (54,922) (12,407)        
Noncontrolling interests' share of consolidated joint venture operating expenses   361   388 1,149 1,058        
Adjustments to NOI   (1,228)   739 (579) 2,819        
Adjusted NOI   23,521   47,813 90,819 121,323        
Plus: Adjustments to NOI   1,228   (739) 579 (2,819)        
Interest income   0   0 0 0        
Interest expense   (2,649)   (2,637) (8,341) (4,626)        
Depreciation and amortization   (24,966)   (58,152) (113,591) (134,481)        
General and administrative   0   0 0 0        
Transaction costs   0   0 0 0        
Impairments and loan loss reserves (recoveries), net   (24,229)   (24,721) (63,672) (77,685)        
Gain (loss) on sales of real estate, net   (2,134)   (734) (1,798) 8,844        
Loss on debt extinguishments   0   0 0 0        
Other income (expense), net   392   0 2,601 12,817        
Income tax benefit (expense)(3)   0   0 0 0        
Less: Government grant income   (392)     (2,601)          
Less: Healthpeak's share of unconsolidated joint venture NOI   (5,569)   (1,127) (19,646) (4,107)        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   98   127 352 452        
Equity income (loss) from unconsolidated joint ventures   (19,432)   (392) (55,360) (1,473)        
Net income (loss)   (54,132)   (40,562) (170,658) (81,755)        
CCRC | Operating Segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   115,031   0 320,737 0        
Government grant income   1,761     13,632          
Less: Interest income   0   0 0 0        
Healthpeak's share of unconsolidated joint venture total revenues   4,295   52,671 30,723 157,744        
Healthpeak's share of unconsolidated joint venture government grant income   246     780          
Noncontrolling interests' share of consolidated joint venture total revenues   0   0 0 0        
Operating expenses   (94,992)   0 (345,722) 0        
Healthpeak's share of unconsolidated joint venture operating expenses   (4,797)   (43,193) (27,660) (127,026)        
Noncontrolling interests' share of consolidated joint venture operating expenses   0   0 0 0        
Adjustments to NOI   1,684   5,635 93,263 13,832        
Adjusted NOI   23,228   15,113 85,753 44,550        
Plus: Adjustments to NOI   (1,684)   (5,635) (93,263) (13,832)        
Interest income   0   0 0 0        
Interest expense   (1,983)   0 (5,256) 0        
Depreciation and amortization   (30,106)   0 (81,760) 0        
General and administrative   0   0 0 0        
Transaction costs   0   0 0 0        
Impairments and loan loss reserves (recoveries), net   0   0 0 0        
Gain (loss) on sales of real estate, net   0   0 0 0        
Loss on debt extinguishments   0   0 0 0        
Other income (expense), net   3,903   0 188,377 0        
Income tax benefit (expense)(3)   0   0 0 0        
Less: Government grant income   (1,761)     (13,632)          
Less: Healthpeak's share of unconsolidated joint venture NOI   256   (9,478) (3,843) (30,718)        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   0   0 0 0        
Equity income (loss) from unconsolidated joint ventures   (322)   (9,194) (1,801) (13,858)        
Net income (loss)   (8,469)   (9,194) 74,575 (13,858)        
Life Science | Operating Segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   148,702   118,561 416,081 320,630        
Government grant income   0     0          
Less: Interest income   0   0 0 0        
Healthpeak's share of unconsolidated joint venture total revenues   0   0 0 0        
Healthpeak's share of unconsolidated joint venture government grant income   0     0          
Noncontrolling interests' share of consolidated joint venture total revenues   (66)   (52) (175) (134)        
Operating expenses   (36,714)   (29,520) (101,120) (76,992)        
Healthpeak's share of unconsolidated joint venture operating expenses   0   0 0 0        
Noncontrolling interests' share of consolidated joint venture operating expenses   18   16 53 42        
Adjustments to NOI   (8,330)   (7,062) (15,389) (17,146)        
Adjusted NOI   103,610   81,943 299,450 226,400        
Plus: Adjustments to NOI   8,330   7,062 15,389 17,146        
Interest income   0   0 0 0        
Interest expense   (57)   (68) (180) (211)        
Depreciation and amortization   (57,170)   (45,028) (159,737) (122,705)        
General and administrative   0   0 0 0        
Transaction costs   0   0 0 0        
Impairments and loan loss reserves (recoveries), net   0   0 0 0        
Gain (loss) on sales of real estate, net   0   (87) 0 3,651        
Loss on debt extinguishments   0   0 0 0        
Other income (expense), net   0   0 0 0        
Income tax benefit (expense)(3)   0   0 0 0        
Less: Government grant income   0     0          
Less: Healthpeak's share of unconsolidated joint venture NOI   0   0 0 0        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   48   36 122 92        
Equity income (loss) from unconsolidated joint ventures   0   0 0 0        
Net income (loss)   54,761   43,858 155,044 124,373        
Medical Office | Operating Segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   145,153   143,639 431,935 427,761        
Government grant income   0     0          
Less: Interest income   0   0 0 0        
Healthpeak's share of unconsolidated joint venture total revenues   699   701 2,085 2,115        
Healthpeak's share of unconsolidated joint venture government grant income   0     0          
Noncontrolling interests' share of consolidated joint venture total revenues   (8,788)   (8,605) (25,775) (25,289)        
Operating expenses   (51,430)   (51,472) (151,467) (150,635)        
Healthpeak's share of unconsolidated joint venture operating expenses   (296)   (279) (846) (837)        
Noncontrolling interests' share of consolidated joint venture operating expenses   2,630   2,593 7,737 7,513        
Adjustments to NOI   (2,287)   (1,609) (4,695) (4,569)        
Adjusted NOI   85,681   84,968 258,974 256,059        
Plus: Adjustments to NOI   2,287   1,609 4,695 4,569        
Interest income   0   0 0 0        
Interest expense   (100)   (108) (302) (328)        
Depreciation and amortization   (53,688)   (54,152) (161,408) (161,350)        
General and administrative   0   0 0 0        
Transaction costs   0   0 0 0        
Impairments and loan loss reserves (recoveries), net   (1,208)   (5,729) (6,033) (14,677)        
Gain (loss) on sales of real estate, net   2,283   (7) 85,676 2,876        
Loss on debt extinguishments   0   0 0 0        
Other income (expense), net   0   0 0 0        
Income tax benefit (expense)(3)   0   0 0 0        
Less: Government grant income   0     0          
Less: Healthpeak's share of unconsolidated joint venture NOI   (403)   (422) (1,239) (1,278)        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   6,158   6,012 18,038 17,776        
Equity income (loss) from unconsolidated joint ventures   198   216 604 643        
Net income (loss)   41,208   32,387 199,005 104,290        
Other non-reportable | Operating Segment                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Total revenues   14,680   15,540 44,425 45,252        
Government grant income   0     0          
Less: Interest income   (4,443)   (2,741) (12,361) (6,868)        
Healthpeak's share of unconsolidated joint venture total revenues   0   5,227 86 16,241        
Healthpeak's share of unconsolidated joint venture government grant income   0     0          
Noncontrolling interests' share of consolidated joint venture total revenues   0   0 0 0        
Operating expenses   (6)   (11) (18) (29)        
Healthpeak's share of unconsolidated joint venture operating expenses   0   (23) 1 (51)        
Noncontrolling interests' share of consolidated joint venture operating expenses   0   0 0 0        
Adjustments to NOI   558   79 1,504 (413)        
Adjusted NOI   10,789   18,071 33,637 54,132        
Plus: Adjustments to NOI   (558)   (79) (1,504) 413        
Interest income   4,443   2,741 12,361 6,868        
Interest expense   0   0 0 0        
Depreciation and amortization   (1,006)   (1,839) (3,867) (5,517)        
General and administrative   0   0 0 0        
Transaction costs   0   0 0 0        
Impairments and loan loss reserves (recoveries), net   2,984   (377) (10,244) (377)        
Gain (loss) on sales of real estate, net   0   44 (40) (220)        
Loss on debt extinguishments   0   0 0 0        
Other income (expense), net   0   980 41,707 980        
Income tax benefit (expense)(3)   0   0 0 0        
Less: Government grant income   0     0          
Less: Healthpeak's share of unconsolidated joint venture NOI   0   (5,204) (87) (16,190)        
Plus: Noncontrolling interests' share of consolidated joint venture NOI   0   0 0 0        
Equity income (loss) from unconsolidated joint ventures   76   1,727 8,012 4,676        
Net income (loss)   $ 16,728   $ 16,064 $ 79,975 $ 44,765        
Assets Leased to Others | Senior Housing Triple-Net                    
Segment Disclosure                    
Property count | property                 43 78
CCRC JV | Assets Leased to Others | Other non-reportable                    
Segment Disclosure                    
Property count 15           15   15  
Brookedale MTCA                    
Segment Reporting Information, Revenue for Reportable Segment [Abstract]                    
Gain (loss) on sales of real estate, net $ 164,000                  
Brookedale MTCA | CCRC JV                    
Segment Disclosure                    
Property count | property             15      
Brookedale MTCA | CCRC JV | Assets Leased to Others | Other non-reportable                    
Segment Disclosure                    
Ownership interest acquired   100.00%     100.00%          
Property count 13 13     13   13