Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Reporting Information

The following tables set forth selected segment financial data.


	For the Years Ended December 31,
(in thousands)	2023		2022		2021
Revenue and other operating income:
Independent Living (1)(2)	$	564,499	$	518,699	$	477,050
Assisted Living and Memory Care (1)(2)	1,968,440		1,815,722		1,595,684
CCRCs (1)(2)	333,404		331,577		306,213
All Other (3)	149,486		159,381		202,043
Health Care Services (1)(2)	—		—		177,269
Total revenue and other operating income	3,015,829		2,825,379		2,758,259













Segment operating income:(4)
Independent Living	184,645		158,950		146,108
Assisted Living and Memory Care	502,317		379,958		294,320
CCRCs	49,581		43,485		34,109
All Other	10,161		12,020		20,598
Health Care Services	—		—		5,816
Total segment operating income	746,704		594,413		500,951


	For the Years Ended December 31,
(in thousands)	2023		2022		2021
General and administrative expense (including non-cash stock-based compensation expense)	178,894		168,594		184,916
Facility operating lease expense:
Independent Living	39,114		39,700		42,162
Assisted Living and Memory Care	146,166		106,961		111,117
CCRCs	12,943		13,883		15,932
Corporate and All Other	4,187		4,750		5,147



Depreciation and amortization:
Independent Living	83,637		79,521		74,922
Assisted Living and Memory Care	196,994		207,344		200,677
CCRCs	36,951		38,039		37,891
Corporate and All Other	25,130		22,540		23,783
Health Care Services	—		—		340
Asset impairment:
Independent Living	1,647		10,893		3,483
Assisted Living and Memory Care	11,574		11,613		14,384
CCRCs	1,368		5,970		4,790
Corporate and All Other	25,983		1,142		346
Loss (gain) on sale of communities, net	(36,296)		(73,850)		—
Loss (gain) on facility operating lease termination, net	—		—		(2,003)
Income (loss) from operations	$	18,412	$	(42,687)	$	(216,936)

Total interest expense:
Independent Living	$	61,624	$	48,788	$	45,209
Assisted Living and Memory Care	141,330		133,139		121,785
CCRCs	24,889		21,251		18,756
Corporate and All Other	10,431		1,539		9,390
	$	238,274	$	204,717	$	195,140





Total capital expenditures for property, plant and equipment, and leasehold intangibles:
Independent Living	$	51,188	$	44,857	$	36,992
Assisted Living and Memory Care	121,240		111,978		105,177
CCRCs	37,414		20,467		19,086
Corporate and All Other	18,750		22,707		21,463
	$	228,592	$	200,009	$	182,718


	As of December 31,
(in thousands)	2023		2022
Total assets:
Independent Living(5)	$	1,206,021	$	1,267,825
Assisted Living and Memory Care	3,315,921		3,329,516
CCRCs	612,521		664,502
Corporate and All Other	438,972		675,219
Total assets	$	5,573,435	$	5,937,062

(1)All revenue and other operating income is earned from external third parties in the United States.

(2)Includes other operating income recognized for the credits or grants pursuant to the Provider Relief Fund, employee retention credit, and other government sources, as described in Note 19. Allocations to the applicable segment generally reflect the credits earned by the segment, the segment’s receipt and acceptance of the grant, or the segment’s proportional utilization of the grant. Other operating income by segment is as follows.


	For the Years Ended December 31,
(in thousands)	2023		2022		2021
Independent Living	$	487	$	10,906	$	1,512
Assisted Living and Memory Care	8,008		60,630		5,963
CCRCs	578		8,933		1,788
Health Care Services	—		—		3,105
Total other operating income	$	9,073	$	80,469	$	12,368

(3)All Other revenue and other operating income includes management fees and reimbursements of costs incurred on behalf of managed communities. For the years ended December 31, 2023, 2022, and 2021, revenue and other operating income includes $0.9 million, $4.2 million, and $17.2 million of revenue earned from unconsolidated ventures in which the Company had or has an ownership interest.

(4)Segment operating income is defined as segment revenues and other operating income less segment facility operating expenses (excluding facility depreciation and amortization) and costs incurred on behalf of managed communities.

(5)The Company's total carrying amount of goodwill is included on the Independent Living segment and was $27.3 million as of December 31, 2023, 2022, and 2021.