Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2020

Summary Information for Reportable Segments

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


Three Months Ended June 30, 2020:	Seniors Housing Operating		Triple-net		Outpatient Medical		Non-segment / Corporate		Total
Resident fees and services	$	769,560	$	—	$	—	$	—	$	769,560
Rental income	—		217,492		178,813		—		396,305
Interest income	88		15,520		461		—		16,069
Other income	4,002		607		1,557		375		6,541
Total revenues	773,650		233,619		180,831		375		1,188,475

Property operating expenses	595,513		13,563		51,688		—		660,764
Consolidated net operating income	178,137		220,056		129,143		375		527,711

Depreciation and amortization	139,163		58,138		68,070		—		265,371
Interest expense	14,029		2,746		4,326		105,256		126,357
General and administrative expenses	—		—		—		34,062		34,062
Loss (gain) on derivatives and financial instruments, net	—		1,434		—		—		1,434
Loss (gain) on extinguishment of debt, net	(492)		—		741		—		249
Provision for loan losses	—		1,451		(29)		—		1,422
Impairment of assets	75,151		—		—		—		75,151
Other expenses	5,251		3,500		6,456		4,204		19,411
Income (loss) from continuing operations before income taxes and other items	(54,965)		152,787		49,579		(143,147)		4,254
Income tax (expense) benefit	—		—		—		(2,233)		(2,233)
Income (loss) from unconsolidated entities	(6,787)		6,403		1,716		—		1,332
Gain (loss) on real estate dispositions, net	14,465		2,148		139,250		—		155,863
Income (loss) from continuing operations	(47,287)		161,338		190,545		(145,380)		159,216
Net income (loss)	$	(47,287)	$	161,338	$	190,545	$	(145,380)	$	159,216

Total assets	$	14,915,588	$	9,189,707	$	7,434,364	$	1,622,993	$	33,162,652


Three Months Ended June 30, 2019:	Seniors Housing Operating		Triple-net		Outpatient Medical		Non-segment / Corporate		Total
Resident fees and services	$	914,085	$	—	$	—	$	—	$	914,085
Rental income	—		222,362		163,224		—		385,586
Interest income	—		17,118		238		—		17,356
Other income	1,444		1,278		(97)		454		3,079
Total revenues	915,529		240,758		163,365		454		1,320,106

Property operating expenses	637,317		12,823		50,987		—		701,127
Consolidated net operating income	278,212		227,935		112,378		454		618,979

Depreciation and amortization	136,551		56,056		55,445		—		248,052
Interest expense	17,572		3,225		3,386		117,153		141,336
General and administrative expenses	—		—		—		33,741		33,741
Loss (gain) on derivatives and financial instruments, net	—		1,913		—		—		1,913


Impairment of assets	—		(940)		10,879		—		9,939
Other expenses	11,857		5,560		(4)		4,215		21,628
Income (loss) from continuing operations before income taxes and other items	112,232		162,121		42,672		(154,655)		162,370
Income tax (expense) benefit	—		—		—		(1,599)		(1,599)
Income (loss) from unconsolidated entities	(17,453)		6,578		1,826		—		(9,049)
Gain (loss) on real estate dispositions, net	(550)		(1,130)		(2)		—		(1,682)
Income (loss) from continuing operations	94,229		167,569		44,496		(156,254)		150,040
Net income (loss)	$	94,229	$	167,569	$	44,496	$	(156,254)	$	150,040


Six Months Ended June 30, 2020	Seniors Housing Operating		Triple-net		Outpatient Medical		Non-segment / Corporate		Total
Resident fees and services	$	1,619,532	$	—	$	—	$	—	$	1,619,532
Rental income	—		408,877		377,388		—		786,265
Interest income	192		30,191		927		—		31,310
Other income	5,054		2,280		1,845		791		9,970
Total revenues	1,624,778		441,348		380,160		791		2,447,077

Property operating expenses	1,203,384		26,865		112,296		—		1,342,545
Consolidated net operating income	421,394		414,483		267,864		791		1,104,532

Depreciation and amortization	285,937		115,832		138,403		—		540,172
Interest expense	30,463		5,598		9,134		223,169		268,364
General and administrative expenses	—		—		—		69,543		69,543
Loss (gain) on derivatives and financial instruments, net	—		9,085		—		—		9,085
Loss (gain) on extinguishment of debt, net	(492)		—		741		—		249
Provision for loan losses	—		8,523		(29)		—		8,494
Impairment of assets	78,646		24,332		—		—		102,978
Other expenses	8,240		4,013		7,463		5,987		25,703
Income (loss) from continuing operations before income taxes and other items	18,600		247,100		112,152		(297,908)		79,944
Income tax (expense) benefit	—		—		—		(7,675)		(7,675)
Income (loss) from unconsolidated entities	(17,811)		12,199		3,252		—		(2,360)
Gain (loss) on real estate dispositions, net	14,316		51,785		352,586		—		418,687
Income (loss) from continuing operations	15,105		311,084		467,990		(305,583)		488,596
Net income (loss)	$	15,105	$	311,084	$	467,990	$	(305,583)	$	488,596


Six Months Ended June 30, 2019	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate		Total
Resident fees and services	$	1,782,370		$	—		$	—		$	—	$	1,782,370
Rental income	—			454,394			312,276			—		766,670
Interest income	—			32,064			411			—		32,475
Other income	5,545			2,541			139			2,611		10,836
Total revenues	1,787,915			488,999			312,826			2,611		2,592,351

Property operating expenses	1,245,003			27,778			99,153			—		1,371,934
Consolidated net operating income	542,912			461,221			213,673			2,611		1,220,417

Depreciation and amortization	268,126			117,404			106,454			—		491,984
Interest expense	35,823			6,665			6,734			237,346		286,568
General and administrative expenses	—			—			—			69,023		69,023
Loss (gain) on derivatives and financial instruments, net	—			(574)			—			—		(574)
Loss (gain) on extinguishment of debt, net	—			—			—			15,719		15,719
Provision for loan losses	—		18.69	18,690		—	—		18.69	—		18,690
Impairment of assets	—			(940)			10,879			—		9,939
Other expenses	14,803			8,589			750			6,242		30,384
Income (loss) from continuing operations before income taxes and other items	224,160			311,387			88,856			(325,719)		298,684
Income tax (expense) benefit	—			—			—			(3,821)		(3,821)
Income (loss) from unconsolidated entities	(34,033)			12,236			3,549			—		(18,248)
Gain (loss) on real estate dispositions, net	(710)			166,444			(7)			—		165,727
Income (loss) from continuing operations	189,417			490,067			92,398			(329,540)		442,342
Net income (loss)	$	189,417		$	490,067		$	92,398		$	(329,540)	$	442,342

Summary of Geographic Information

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


	Three Months Ended														Six Months Ended
	June 30, 2020						June 30, 2019						June 30, 2020				June 30, 2019
Revenues:	Amount⁽¹⁾		%		Amount		%		Amount⁽¹⁾		%		Amount		%
United States	$	973,772	81.9	%	$	1,092,376	82.8	%	$	2,001,553	81.8	%	$	2,136,042	82.4	%
United Kingdom	109,437		9.2	%	112,647		8.5	%	227,319		9.3	%	225,065		8.7	%
Canada	105,266		8.9	%	115,083		8.7	%	218,205		8.9	%	231,244		8.9	%
Total	$	1,188,475	100.0	%	$	1,320,106	100.0	%	$	2,447,077	100.0	%	$	2,592,351	100.0	%

	As of
	June 30, 2020						December 31, 2019
Assets:	Amount		%		Amount		%
United States	$	27,655,745	83.4	%	$	27,513,911	82.4	%
United Kingdom	3,175,033		9.6	%	3,405,388		10.2	%
Canada	2,331,874		7.0	%	2,461,452		7.4	%
Total	$	33,162,652	100.0	%	$	33,380,751	100.0	%

⁽¹⁾The United States, United Kingdom and Canada represent 77%, 10% and 13%, respectively, of our resident fees and services revenue stream for the three and six months ended June 30, 2020.