Supplemental Disclosure of Cash Flow Information

6 Months Ended

Jun. 30, 2023

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosure of Cash Flow Information

13. Supplemental Disclosure of Cash Flow Information

During the period from January 1, 2022 through June 30, 2023, the Company disposed of three owned communities, the Company's triple-net lease obligations on four communities were terminated (including through the acquisition of one formerly leased community), and the Company acquired the remaining 50% equity interest in one community.

On May 1, 2023, the Company completed the sale of its one remaining entrance fee community, which was included within the Company's CCRCs segment. The Company received cash proceeds of $12.5 million, net of $29.6 million in mortgage debt repaid and transaction costs, and recognized a net gain on sale of communities of $36.3 million.

The Company was eligible to claim the employee retention credit for certain of its associates under the Coronavirus Aid, Relief, and Economic Security Act of 2020 ("CARES Act") and subsequent legislation. During the years ended December 31, 2022 and 2021, the Company recognized $9.4 million and $9.9 million, respectively, of employee retention credits on wages paid from March 12, 2020 to December 31, 2021 within other operating income, for which the Company has received $18.5 million in cash through June 30, 2023. During the six months ended June 30, 2023 and 2022, the Company received cash of $13.9 million and $1.2 million, respectively, for such employee retention credits. The Company has a receivable for the remaining $0.8 million included within prepaid expenses and other current assets, net on the condensed consolidated balance sheet as of June 30, 2023.

	Six Months Ended June 30,
(in thousands)	2023		2022
Supplemental Disclosure of Cash Flow Information:
Interest paid	$	114,194	$	92,673
Income taxes paid, net of refunds	$	(946)	$	598
Capital expenditures, net of related payables:
Capital expenditures - non-development, net	$	127,727	$	85,012
Capital expenditures - development, net	904		2,690
Capital expenditures - non-development - reimbursable from lessor	2,244		11,833
Trade accounts payable	(21,050)		(2,684)
Net cash paid	$	109,825	$	96,851
Acquisition of assets, net of cash acquired:
Prepaid expenses and other assets, net	$	23	$	—
Property, plant and equipment and leasehold intangibles, net	6,872		4
Investment in unconsolidated ventures	(3,395)		—
Financing lease obligations	—		6,000
Other liabilities	(384)		—
Other non-operating loss (income)	(2,542)		—
Net cash paid	$	574	$	6,004
Proceeds from sale of assets, net:
Prepaid expenses and other assets, net	$	(1,538)	$	(1,264)
Assets held for sale	—		(3,668)
Property, plant and equipment and leasehold intangibles, net	(23,733)		—
Refundable fees and deferred revenue	9,347		—
Other liabilities	10,021		(140)
Non-operating (gain) loss on sale of assets, net	(860)		(667)
Loss (gain) on sale of communities, net	(36,296)		—
Net cash received	$	(43,059)	$	(5,739)

	Six Months Ended June 30,
(in thousands)	2023		2022
Supplemental Schedule of Non-cash Operating, Investing, and Financing Activities:
Non-cash lease transactions, net:
Property, plant and equipment and leasehold intangibles, net	$	(51,584)	$	11,056
Operating lease right-of-use assets	178,409		10,780
Financing lease obligations	88,886		(6,296)
Operating lease obligations	(215,711)		(15,540)
Net	$	—	$	—

Restricted cash consists principally of deposits as security for self-insured retention risk under workers' compensation programs and property insurance programs, escrow deposits for real estate taxes, property insurance, and capital expenditures, and debt service reserve accounts required by certain lenders under mortgage debt agreements. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sums to the total of the same such amounts shown in the condensed consolidated statements of cash flows.

(in thousands)	June 30, 2023		December 31, 2022
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	336,576	$	398,850
Restricted cash	34,823		27,735
Long-term restricted cash	37,183		47,963
Total cash, cash equivalents, and restricted cash	$	408,582	$	474,548