Dispositions, Assets Held for Sale and Discontinued Operations

6 Months Ended

Jun. 30, 2017

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, the exercise of tenant purchase options or reduction of concentrations (e.g., property type, operator or geography). During the six months ended June 30, 2017 and 2016, we recorded impairment charges on certain held-for-sale seniors housing operating, triple-net, and outpatient medical properties for which the carrying values exceeded the fair values less estimated costs to sell. The following is a summary of our real property disposition activity for the periods presented (in thousands):

		Six Months Ended
		June 30, 2017			June 30, 2016
Real estate dispositions:
	Triple-net		$	882,436		$	128,768
	Seniors housing operating			13,845			-
	Total dispositions			896,281			128,768
Gain (loss) on real estate dispositions, net				286,247			1,530
	Net other assets/liabilities disposed			21,254			-
Proceeds from real estate dispositions			$	1,203,782		$	130,298

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				Six Months Ended
			June 30,				June 30,
		2017		2016		2017		2016
Revenues:
	Rental income	$	4,094	$	19,990	$	21,494	$	38,552
Expenses:
	Interest expense		284		2,506		1,714		5,032
	Property operating expenses		2,020		1,338		5,098		2,700
	Provision for depreciation		475		3,071		1,121		7,022
	Total expenses		2,779		6,915		7,933		14,754
Income (loss) from real estate dispositions, net		$	1,315	$	13,075	$	13,561	$	23,798