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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenues:    
Rental income $ 379,587,000us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 336,455,000us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Resident fees and services 492,510,000us-gaap_OtherRealEstateRevenue 456,265,000us-gaap_OtherRealEstateRevenue
Interest income 16,994,000us-gaap_InterestIncomeOperating 8,594,000us-gaap_InterestIncomeOperating
Other income 5,086,000us-gaap_OtherOperatingIncome 493,000us-gaap_OtherOperatingIncome
Total revenues 894,177,000us-gaap_Revenues 801,807,000us-gaap_Revenues
Expenses:    
Interest expense 121,080,000us-gaap_InterestExpenseDebt 120,833,000us-gaap_InterestExpenseDebt
Property operating expenses 376,461,000us-gaap_OwnedPropertyManagementCosts 341,431,000us-gaap_OwnedPropertyManagementCosts
Depreciation and amortization 188,829,000us-gaap_DepreciationAndAmortization 233,318,000us-gaap_DepreciationAndAmortization
General and administrative 35,138,000us-gaap_SellingGeneralAndAdministrativeExpense 32,865,000us-gaap_SellingGeneralAndAdministrativeExpense
Transaction costs 48,554,000us-gaap_BusinessCombinationAcquisitionRelatedCosts 952,000us-gaap_BusinessCombinationAcquisitionRelatedCosts
Loss (gain) on derivatives, net (58,427,000)us-gaap_DerivativeLossOnDerivative [1]  
Loss (gain) on extinguishment of debt, net (15,401,000)us-gaap_GainsLossesOnExtinguishmentOfDebt 148,000us-gaap_GainsLossesOnExtinguishmentOfDebt
Provision for loan losses 0us-gaap_ProvisionForLoanAndLeaseLosses  
Impairment of Asset 2,220,000us-gaap_AssetImpairmentCharges  
Total expenses 729,256,000us-gaap_OperatingExpenses 729,251,000us-gaap_OperatingExpenses
Income (loss) from continuing operations before income taxes and income from unconsolidated entities, total 164,921,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 72,556,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax (expense) benefit 304,000us-gaap_IncomeTaxExpenseBenefit (2,260,000)us-gaap_IncomeTaxExpenseBenefit
(Loss) income from unconsolidated entities (12,648,000)us-gaap_IncomeLossFromEquityMethodInvestments (5,556,000)us-gaap_IncomeLossFromEquityMethodInvestments
Income from continuing operations 152,577,000us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 64,740,000us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:    
Gain (loss) on sales of properties, net 56,845,000us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax  
Income (loss) from discontinued operations, net   460,000us-gaap_DiscontinuedOperationAmountOfOtherIncomeLossFromDispositionOfDiscontinuedOperationNetOfTax
Gain (loss) on real estate dispositions, net 56,845,000us-gaap_GainLossOnDispositionOfAssets1  
Net income 209,422,000us-gaap_ProfitLoss 65,200,000us-gaap_ProfitLoss
Less: Preferred stock dividends 16,352,000us-gaap_DividendsPreferredStock 16,353,000us-gaap_DividendsPreferredStock
Less: Net income (loss) attributable to noncontrolling interests 2,271,000us-gaap_NetIncomeLossAttributableToNoncontrollingInterest [2] (1,175,000)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest [2]
Net income (loss) attributable to common stockholders $ 190,799,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 50,022,000us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Average number of common shares outstanding:    
Basic 336,754us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 289,606us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 337,812us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 290,917us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Basic:    
Income (loss) from continuing operations attributable to common stockholders, including real estate dispositions $ 0.57us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.17us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Discontinued operations, net $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare  
Net income (loss) attributable to common stockholders, total $ 0.57us-gaap_EarningsPerShareBasic $ 0.17us-gaap_EarningsPerShareBasic
Diluted:    
Income (loss) from continuing operations attributable to common stockholders, including real estate dispositions $ 0.56us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.17us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Discontinued operations, net $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare  
Net income (loss) attributable to common stockholders, total $ 0.56us-gaap_EarningsPerShareDiluted $ 0.17us-gaap_EarningsPerShareDiluted
Dividends declared and paid per common share $ 0.825us-gaap_CommonStockDividendsPerShareCashPaid $ 0.795us-gaap_CommonStockDividendsPerShareCashPaid
[1]
(1) In April 2011, we completed the acquisition of substantially all of the real estate assets of privately-owned Genesis Healthcare Corporation. In conjunction with this transaction, we received the option to acquire an ownership interest in Genesis Healthcare. In February 2015, Genesis Healthcare closed on a transaction to merge with Skilled Healthcare Group to become a publicly traded company which required us to record the value of the derivative asset due to the net settlement feature.
[2]
(1) Includes amounts attributable to redeemable noncontrolling interests.