Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

The Company defines cash and cash equivalents as cash and investments with maturities of 90 days or less when purchased. Restricted cash consists principally of deposits required by certain lenders and lessors pursuant to the applicable agreement and consists of the following:



	December 31,
(in thousands)	2018		2017
Current:
Real estate tax and property insurance escrows	$	18,177	$	21,603
Replacement reserve escrows	8,273		10,960
Resident deposits	489		678
Other	744		3,948
Subtotal	27,683		37,189
Long term:
Insurance deposits	14,370		12,364
CCRC escrows	9,618		8,526
Debt service reserve	280		1,820
Subtotal	24,268		22,710
Total	$	51,951	$	59,899

Property, plant and equipment, useful lives

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, which are as follows:



Asset Category		Estimated Useful Life (in years)
Buildings and improvements		40
Furniture and equipment		3 – 7
Resident lease intangibles		1 – 3

As of December 31, 2018 and 2017, net property, plant and equipment and leasehold intangibles, which include assets under capital and financing leases, consisted of the following:



	As of December 31,
(in thousands)	2018			2017
Land	$	456,912		$	449,295
Buildings and improvements	4,919,789			4,923,621
Leasehold improvements	123,366			124,850
Furniture and equipment	1,036,113			1,006,889
Resident and leasehold operating intangibles	477,827			594,748
Construction in progress	57,636			74,678
Assets under capital and financing leases	1,251,159			1,742,384
Property, plant and equipment and leasehold intangibles	8,322,802			8,916,465
Accumulated depreciation and amortization	(3,047,375		)	(3,064,320		)
Property, plant and equipment and leasehold intangibles, net	$	5,275,427		$	5,852,145

Definite lived intangible assets, useful lives

Amortization of the Company's definite-lived intangible assets is computed using the straight-line method over the estimated useful lives of the assets, which are as follows:



Asset Category		Estimated Useful Life (in years)
Trade names		2 – 5
Other		3 – 9

The following is a summary of other intangible assets.



	December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net
Community purchase options	$	4,738	$	—		$	4,738
Health care licenses	42,323		—			42,323
Trade names	27,800		(26,295		)	1,505
Management contracts	9,610		(6,704		)	2,906
Total	$	84,471	$	(32,999	)	$	51,472



	December 31, 2017
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net
Community purchase options	$	9,533	$	—		$	9,533
Health care licenses	50,927		—			50,927
Trade names	27,800		(23,714		)	4,086
Management contracts	11,360		(7,929		)	3,431
Total	$	99,620	$	(31,643	)	$	67,977