Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables set forth selected segment financial data.

	For the Years Ended December 31,
(in thousands)	2024		2023		2022
Revenue and other operating income:
Independent Living (1)(2)	$	598,922	$	564,499	$	518,699
Assisted Living and Memory Care (1)(2)	2,038,660		1,968,440		1,815,722
CCRCs (1)(2)	334,468		333,404		331,577
All Other (3)	153,437		149,486		159,381
Total revenue and other operating income	3,125,487		3,015,829		2,825,379
Community labor expenses:
Independent Living	230,037		221,112		213,965
Assisted Living and Memory Care	994,687		979,926		977,780
CCRCs	183,322		192,860		196,279
Other facility operating expenses:(4)
Independent Living	173,803		158,742		145,784
Assisted Living and Memory Care	510,670		486,197		457,984
CCRCs	90,742		90,963		91,813
Total facility operating expenses	2,183,261		2,129,800		2,083,605
Segment operating income:(5)
Independent Living	195,082		184,645		158,950
Assisted Living and Memory Care	533,303		502,317		379,958
CCRCs	60,404		49,581		43,485
All Other	10,521		10,161		12,020
Total segment operating income	799,310		746,704		594,413
General and administrative expense (including non-cash stock-based compensation expense)	185,850		178,894		168,594
Facility operating lease expense:
Independent Living	37,824		39,114		39,700
Assisted Living and Memory Care	147,899		146,166		106,961
CCRCs	13,052		12,943		13,883
Corporate and All Other	1,812		4,187		4,750
Depreciation and amortization:
Independent Living	92,785		83,637		79,521
Assisted Living and Memory Care	202,996		196,994		207,344
CCRCs	34,882		36,951		38,039
Corporate and All Other	27,125		25,130		22,540
Asset impairment:
Independent Living	2,285		1,647		10,893
Assisted Living and Memory Care	5,927		11,574		11,613
CCRCs	345		1,368		5,970
Corporate and All Other	—		25,983		1,142
Loss (gain) on sale of communities, net	—		(36,296)		(73,850)
Income (loss) from operations	$	46,528	$	18,412	$	(42,687)

	For the Years Ended December 31,
(in thousands)	2024		2023		2022
Total interest expense:
Independent Living	$	65,342	$	61,624	$	48,788
Assisted Living and Memory Care	150,610		141,330		133,139
CCRCs	23,595		24,889		21,251
Corporate and All Other	13,028		10,431		1,539
	$	252,575	$	238,274	$	204,717
Total capital expenditures for property, plant and equipment, and leasehold intangibles:
Independent Living	$	48,658	$	51,188	$	44,857
Assisted Living and Memory Care	122,384		121,240		111,978
CCRCs	18,214		37,414		20,467
Corporate and All Other	15,094		18,750		22,707
	$	204,350	$	228,592	$	200,009

    

	As of December 31,
(in thousands)	2024		2023
Total assets:
Independent Living(6)	$	1,252,736	$	1,206,021
Assisted Living and Memory Care	3,983,311		3,315,921
CCRCs	640,720		612,521
Corporate and All Other	458,795		438,972
Total assets	$	6,335,562	$	5,573,435

(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)	2024		2023		2022
Independent Living	$	—	$	487	$	10,906
Assisted Living and Memory Care	—		8,008		60,630
CCRCs	—		578		8,933
Total other operating income	$	—	$	9,073	$	80,469

(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, and 2022, revenue and other operating income includes $0.9 million and $4.2 million of revenue earned from unconsolidated ventures in which the Company had an ownership interest.

(4)Other facility operating expenses is primarily comprised of costs for food, utilities, maintenance, real estate taxes, insurance, marketing, paid referral fees, and other costs of operating the Company's communities.

(5)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.

(6)The Company's total carrying amount of goodwill is included on the Independent Living segment and was $27.3 million as of December 31, 2024, 2023, and 2022.