Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2019

Summary information for the reportable segments (which excludes unconsolidated entities) is as follows (in thousands):



Three Months Ended September 30, 2019:	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	834,121		$	—		$	—		$	—		$	834,121
Rental income	—			227,499			184,648			—			412,147
Interest income	—			15,279			358			—			15,637
Other income	1,375			1,829			183			841			4,228
Total revenues	835,496			244,607			185,189			841			1,266,133

Property operating expenses	581,341			13,922			60,325			—			655,588
Consolidated net operating income	254,155			230,685			124,864			841			610,545

Depreciation and amortization	148,126			57,147			67,172			—			272,445
Interest expense	16,356			3,076			3,363			114,548			137,343
General and administrative expenses	—			—			—			31,019			31,019
Loss (gain) on derivatives and financial instruments, net	—			1,244			—			—			1,244
Loss (gain) on extinguishment of debt, net	1,450			—			—			64,374			65,824
Impairment of assets	2,599			12,314			3,183			—			18,096
Other expenses	4,274			(2,496		)	524			3,884			6,186
Income (loss) from continuing operations before income taxes and other items	81,350			159,400			50,622			(212,984		)	78,388
Income tax (expense) benefit	(2,554		)	12			(302		)	(1,124		)	(3,968		)
(Loss) income from unconsolidated entities	(3,859		)	5,276			1,845			—			3,262
Gain (loss) on real estate dispositions, net	519,203			51,529			(482		)	—			570,250
Income (loss) from continuing operations	594,140			216,217			51,683			(214,108		)	647,932
Net income (loss)	$	594,140		$	216,217		$	51,683		$	(214,108	)	$	647,932

Total assets	$	15,095,737		$	9,350,606		$	7,173,763		$	243,849		$	31,863,955



Three Months Ended September 30, 2018:	Seniors Housing Operating			Triple-net		Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	875,171		$	—	$	—		$	—		$	875,171
Rental income	—			203,039		139,848			—			342,887
Interest income	159			14,378		85			—			14,622
Other income	1,175			1,693		136			695			3,699
Total revenues	876,505			219,110		140,069			695			1,236,379

Property operating expenses	610,659			426		46,072			—			657,157
Consolidated net operating income	265,846			218,684		93,997			695			579,222

Depreciation and amortization	136,532			60,383		46,234			—			243,149
Interest expense	17,319			3,500		1,643			115,570			138,032
General and administrative expenses	—			—		—			28,746			28,746
Loss (gain) on derivatives and financial instruments, net	—			8,991		—			—			8,991
Loss (gain) on extinguishment of debt, net	—			—		—			4,038			4,038
Impairment of assets	562			6,178		—			—			6,740
Other expenses	(811		)	87,076		1,055			1,306			88,626
Income (loss) from continuing operations before income taxes and other items	112,244			52,556		45,065			(148,965		)	60,900
Income tax (expense) benefit	211			1,116		239			(3,307		)	(1,741		)
(Loss) income from unconsolidated entities	(6,705		)	5,377		1,672			—			344
Gain (loss) on real estate dispositions, net	(1		)	24,782		(58		)	—			24,723
Income (loss) from continuing operations	105,749			83,831		46,918			(152,272		)	84,226
Net income (loss)	$	105,749		$	83,831	$	46,918		$	(152,272	)	$	84,226



Nine Months Ended September 30, 2019	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	2,616,491		$	—		$	—		$	—		$	2,616,491
Rental income	—			681,893			496,924			—			1,178,817
Interest income	—			47,343			769			—			48,112
Other income	6,920			4,370			322			3,452			15,064
Total revenues	2,623,411			733,606			498,015			3,452			3,858,484

Property operating expenses	1,826,344			41,700			159,478			—			2,027,522
Consolidated net operating income	797,067			691,906			338,537			3,452			1,830,962

Depreciation and amortization	416,252			174,551			173,626			—			764,429
Interest expense	52,179			9,741			10,097			351,894			423,911
General and administrative expenses	—			—			—			100,042			100,042
Loss (gain) on derivatives and financial instruments, net	—			670			—			—			670
Loss (gain) on extinguishment of debt, net	1,450			—			—			80,093			81,543
Provision for loan losses	—			18,690			—			—			18,690
Impairment of assets	2,599			11,374			14,062			—			28,035
Other expenses	19,077			6,093			1,274			10,126			36,570
Income (loss) from continuing operations before income taxes and other items	305,510			470,787			139,478			(538,703		)	377,072
Income tax (expense) benefit	(2,798		)	(2,300		)	(1,253		)	(1,438		)	(7,789		)
(Loss) income from unconsolidated entities	(37,892		)	17,512			5,394			—			(14,986		)
Gain (loss) on real estate dispositions, net	518,493			217,973			(489		)	—			735,977
Income (loss) from continuing operations	783,313			703,972			143,130			(540,141		)	1,090,274
Net income (loss)	$	783,313		$	703,972		$	143,130		$	(540,141	)	$	1,090,274



Nine Months Ended September 30, 2018	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	2,374,450		$	—		$	—		$	—		$	2,374,450
Rental income	—			607,831			412,026			—			1,019,857
Interest income	416			42,176			140			—			42,732
Other income	3,973			16,282			401			1,561			22,217
Total revenues	2,378,839			666,289			412,567			1,561			3,459,256

Property operating expenses	1,648,262			583			133,528			—			1,782,373
Consolidated net operating income	730,577			665,706			279,039			1,561			1,676,883

Depreciation and amortization	397,080			171,724			138,821			—			707,625
Interest expense	51,225			10,742			4,975			315,281			382,223
General and administrative expenses	—			—			—			95,282			95,282
Loss (gain) on derivatives and financial instruments, net	—			(5,642		)	—			—			(5,642		)
Loss (gain) on extinguishment of debt, net	110			(32		)	11,928			4,038			16,044
Impairment of assets	5,075			34,482			—			—			39,557
Other expenses	5,168			89,153			3,748			4,327			102,396
Income (loss) from continuing operations before income taxes and other items	271,919			365,279			119,567			(417,367		)	339,398
Income tax (expense) benefit	(2,244		)	(708		)	(567		)	(3,651		)	(7,170		)
(Loss) income from unconsolidated entities	(21,389		)	16,260			4,293			—			(836		)
Gain (loss) on real estate dispositions, net	3			158,938			214,721			—			373,662
Income (loss) from continuing operations	248,289			539,769			338,014			(421,018		)	705,054
Net income (loss)	$	248,289		$	539,769		$	338,014		$	(421,018	)	$	705,054

The following is a summary of geographic information for the periods presented (dollars in thousands):