Dispositions, Assets Held for Sale and Discontinued Operations

12 Months Ended

Dec. 31, 2012

Disclosure Dispositions, Assets Held for Sale and Discontinued Operations [Abstract]

Dispositions, Assets Held for Sale and Discontinued Operations

5. Dispositions, Assets Held for Sale and Discontinued Operations

Impairment of assets as reflected in our consolidated statements of comprehensive income relate to properties designated as held for sale and represent the charges necessary to adjust the carrying values to estimated fair values less costs to sell based on current sales price expectations. The following is a summary of our real property disposition activity for the periods presented (in thousands):

		Year Ended
		December 31, 2012		December 31, 2011		December 31, 2010
Real property dispositions:
	Seniors housing triple-net	$	372,378	$	150,755	$	170,290
	Medical facilities		149,344		35,295		14,092
	Total dispositions		521,722		186,050		184,382
Add: Gain (loss) on sales of real property, net			100,549		61,160		36,115
	Seller financing on sales of real property		(12,000)		0		(1,470)
Proceeds from real property sales		$	610,271	$	247,210	$	219,027

At December 31, 2012, $46,201,000 of sales proceeds is on deposit in an Internal Revenue Code Section 1031 exchange account escrow account with a qualified intermediary.We have reclassified the income and expenses attributable to all properties sold prior to or held for sale at December 31, 2012 to discontinued operations. Expenses include an allocation of interest expense based on property carrying values and our weighted-average cost of debt. The following illustrates the reclassification impact as a result of classifying properties as discontinued operations for the periods presented (in thousands):

			Year Ended December 31,
		2012		2011		2010
Revenues:
	Rental income	$	79,323	$	107,236	$	123,945
Expenses:
	Interest expense		16,217		24,626		26,982
	Property operating expenses		2,354		6,131		8,678
	Provision for depreciation		17,697		29,723		37,378
Income (loss) from discontinued operations, net		$	43,055	$	46,756	$	50,907