Dispositions, Assets Held for Sale and Discontinued Operations

3 Months Ended

Mar. 31, 2016

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

We periodically sell properties for various reasons, including favorable market conditions or the exercise of tenant purchase options. During the three months ended March 31, 2016 and 2015, we recorded impairment charges on certain held-for-sale triple-net properties as the fair values less estimated costs to sell exceeded our carrying values. The following is a summary of our real property disposition activity for the periods presented (in thousands):

		Three Months Ended
		March 31, 2016			March 31, 2015
Real estate dispositions:
	Triple-net		$	-		$	110,998
	Outpatient medical			-			9,422
	Total dispositions			-			120,420
Gain (loss) on real estate dispositions, net				-			56,845
Proceeds from real estate dispositions			$	-		$	177,265

Dispositions and Assets Held for Sale

Pursuant to our adoption of ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, operating results attributable to properties sold subsequent to or classified as held for sale after January 1, 2014 and which do not meet the definition of discontinued operations are no longer reclassified on our Consolidated Statements of Comprehensive Income. The following represents the activity related to these properties for the periods presented (in thousands):

			Three Months Ended
			March 31,
		2016		2015
Revenues:
	Rental income	$	5,477	$	12,166
Expenses:
	Interest expense		851		2,262
	Property operating expenses		1,362		1,527
	Provision for depreciation		820		3,256
	Total expenses		3,033		7,045
Income (loss) from real estate dispositions, net		$	2,444	$	5,121