Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables set forth selected segment financial data.

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2024		2023		2024		2023
Revenue and other operating income:
Independent Living(1)	$	149,542	$	140,888	$	298,490	$	281,544
Assisted Living and Memory Care(1)	507,191		490,286		1,018,063		979,090
CCRCs(1)	82,976		83,109		167,397		169,381
All Other	37,832		36,509		76,422		74,040
Total revenue and other operating income	$	777,541	$	750,792	$	1,560,372	$	1,504,055
Segment operating income:(2)
Independent Living	$	50,334	$	46,361	$	98,977	$	93,194
Assisted Living and Memory Care	136,155		124,616		273,613		249,209
CCRCs	15,713		12,188		31,303		25,687
All Other	2,616		2,510		5,234		5,087
Total segment operating income	204,818		185,675		409,127		373,177
General and administrative expense (including non-cash stock-based compensation expense)	46,664		45,326		92,396		93,945
Facility operating lease expense	50,964		50,512		102,460		96,639
Depreciation and amortization	88,028		84,448		174,155		169,382
Asset impairment	—		520		1,708		520
Loss (gain) on sale of communities, net	—		(36,296)		—		(36,296)
Income (loss) from operations	$	19,162	$	41,165	$	38,408	$	48,987

	As of
(in thousands)	June 30, 2024		December 31, 2023
Total assets:
Independent Living(3)	$	1,174,509	$	1,206,021
Assisted Living and Memory Care	3,227,652		3,315,921
CCRCs	598,719		612,521
Corporate and All Other	450,006		438,972
Total assets	$	5,450,886	$	5,573,435

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

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.

(3)The Company's total carrying amount of goodwill is included within the Independent Living segment and was $27.3 million as of both June 30, 2024 and December 31, 2023.