Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2015


Three Months Ended June 30, 2015:		Triple-net		Seniors Housing Operating		Outpatient Medical		Non-segment / Corporate		Total
Rental income	$	279,990	$	-	$	116,636	$	-	$	396,626
Resident fees and services		-		535,553		-		-		535,553
Interest income		18,189		1,042		1,345		-		20,576
Other income		970		3,210		195		39		4,414
Total revenues		299,149		539,805		118,176		39		957,169

Property operating expenses		-		360,569		37,785		-		398,354
Net operating income from continuing operations		299,149		179,236		80,391		39		558,815

Reconciling items:
Interest expense		2,679		38,796		7,184		70,202		118,861
Depreciation and amortization		72,402		88,844		47,556		-		208,802
General and administrative		-		-		-		38,474		38,474
Transaction costs		7,579		3,937		975		-		12,491
Loss (gain) on extinguishment of debt, net		(102)		-		-		18,989		18,887
Other expenses		-		-				10,583 ⁽¹⁾		10,583
Income (loss) from continuing operations before income taxes and income from unconsolidated entities		216,591		47,659		24,676		(138,209)		150,717
Income tax expense		(3,121)		(3,449)		(161)		(686)		(7,417)
(Loss) income from unconsolidated entities		1,453		(6,083)		1,678		-		(2,952)
Income (loss) from continuing operations		214,923		38,127		26,193		(138,895)		140,348
Gain (loss) on real estate dispositions, net		-		-		190,111		-		190,111
Net income (loss)	$	214,923	$	38,127	$	216,304	$	(138,895)	$	330,459

Total assets	$	12,191,264	$	10,432,990	$	4,701,830	$	81,398	$	27,407,482


(1) Due to termination of our investment in a strategic medical office partnership and costs associated with the retirement of an executive officer.


Three Months Ended June 30, 2014:		Triple-net		Seniors Housing Operating		Outpatient Medical		Non-segment / Corporate		Total
Rental income	$	248,134	$	-	$	99,713	$	-	$	347,847
Resident fees and services		-		467,639		-		-		467,639
Interest income		7,980		11		942		-		8,933
Other income		325		1,264		362		76		2,027
Total revenues		256,439		468,914		101,017		76		826,446

Property operating expenses		447		310,029		33,278		-		343,754
Net operating income from continuing operations		255,992		158,885		67,739		76		482,692

Reconciling items:
Interest expense		8,655		28,833		8,346		75,231		121,065
Loss (gain) on derivatives, net		73		278		-		-		351
Depreciation and amortization		67,372		109,644		37,433		-		214,449
General and administrative		-		-		-		51,660		51,660
Transaction costs		4,007		1,660		1,373		-		7,040
Loss (gain) on extinguishment of debt, net		-		531		-		-		531
Income (loss) from continuing operations before income taxes and income from unconsolidated entities		175,885		17,939		20,587		(126,815)		87,596
Income tax expense		(438)		(801)		(330)		-		(1,569)
(Loss) income from unconsolidated entities		1,423		(15,496)		2,557		-		(11,516)
Income (loss) from continuing operations		176,870		1,642		22,814		(126,815)		74,511
Income (loss) from discontinued operations		6,675		-		-		-		6,675
Gain (loss) on real estate dispositions, net		5,762		-		906		-		6,668
Net income (loss)	$	189,307	$	1,642	$	23,720	$	(126,815)	$	87,854


Six Months Ended June 30, 2015:		Triple-net		Seniors Housing Operating		Outpatient Medical		Non-segment / Corporate		Total
Rental income	$	544,396	$	-	$	231,817	$	-	$	776,213
Resident fees and services		-		1,028,063		-		-		1,028,063
Interest income		32,888		2,073		2,609		-		37,570
Other income		4,853		4,229		356		62		9,500
Total revenues		582,137		1,034,365		234,782		62		1,851,346

Property operating expenses		-		699,076		75,739		-		774,815
Net operating income from continuing operations		582,137		335,289		159,043		62		1,076,531

Reconciling items:
Interest expense		12,706		73,255		14,809		139,172		239,942
Loss (gain) on derivatives, net		(58,427)		-		-		-		(58,427)
Depreciation and amortization		142,434		165,479		89,718		-		397,631
General and administrative		-		-		-		73,612		73,612
Transaction costs		43,750		15,979		1,316		-		61,045
Loss (gain) on extinguishment of debt, net		10,235		-		-		24,053		34,288
Impairment of assets		2,220		-		-		-		2,220
Other expenses		-		-		-		10,583		10,583
Income (loss) from continuing operations before income taxes and income from unconsolidated entities		429,219		80,576		53,200		(247,358)		315,637
Income tax expense		(2,703)		(3,982)		305		(733)		(7,113)
(Loss) income from unconsolidated entities		2,846		(21,156)		2,710		-		(15,600)
Income (loss) from continuing operations		429,362		55,438		56,215		(248,091)		292,924
Gain (loss) on real estate dispositions, net		54,097		-		192,859		-		246,956
Net income (loss)	$	483,459	$	55,438	$	249,074	$	(248,091)	$	539,880


Six Months Ended June 30, 2014:		Triple-net		Seniors Housing Operating		Outpatient Medical		Non-segment / Corporate		Total
Rental income	$	485,852	$	-	$	198,451	$	-	$	684,303
Resident fees and services		-		923,904		-		-		923,904
Interest income		15,700		11		1,816		-		17,527
Other income		468		1,318		643		91		2,520
Total revenues		502,020		925,233		200,910		91		1,628,254

Property operating expenses		690		618,213		66,282		-		685,185
Net operating income from continuing operations		501,330		307,020		134,628		91		943,069

Reconciling items:
Interest expense		17,769		56,312		17,730		150,087		241,898
Loss (gain) on derivatives, net		73		278		-		-		351
Depreciation and amortization		134,640		238,806		74,320		-		447,766
General and administrative		-		-		-		84,524		84,524
Transaction costs		4,283		2,290		1,420		-		7,993
Loss (gain) on extinguishment of debt, net		-		383		-		-		383
Income (loss) from continuing operations before income taxes and income from unconsolidated entities		344,565		8,951		41,158		(234,520)		160,154
Income tax expense		(793)		(2,444)		(593)		-		(3,830)
(Loss) income from unconsolidated entities		2,804		(23,457)		3,580		-		(17,073)
Income (loss) from continuing operations		346,576		(16,950)		44,145		(234,520)		139,251
Income (loss) from discontinued operations		7,135		-		-		-		7,135
Gain (loss) on real estate dispositions, net		5,762		-		906		-		6,668
Net income (loss)	$	359,473	$	(16,950)	$	45,051	$	(234,520)	$	153,054