SUMMARIZED CONSOLIDATING INFORMATION (Tables)

12 Months Ended

Dec. 31, 2018

Summarized Condensed Consolidating Information [Abstract]

CONSOLIDATING BALANCE SHEET

December 31, 2018

(in thousands, except share and per share amounts)



						Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾		Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾		Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾		Elimination			Consolidated
Assets
Real estate investments, net of accumulated depreciation	$	317		$	—	$	—	$	1,609,861	$	4,243,367	$	—		$	5,853,545
Loans receivable and other investments, net	(560		)	—		—		50,534		63,748		—			113,722
Investment in unconsolidated joint venture	—			—		—		—		340,120		—			340,120
Cash and cash equivalents	40,835			—		—		3,508		5,887		—			50,230
Restricted cash	—			—		—		1,820		7,608		—			9,428
Lease intangible assets, net	—			—		—		15,892		115,205		—			131,097
Accounts receivable, prepaid expenses and other assets, net	798			37,075		—		58,710		81,597		(11,019		)	167,161
Intercompany	1,972,059			2,646,669		—		—		—		(4,618,728		)	—
Investment in subsidiaries	1,258,715			1,629,795		—		33,083		—		(2,921,593		)	—
Total assets	$	3,272,164		$	4,313,539	$	—	$	1,773,408	$	4,857,532	$	(7,551,340	)	$	6,665,303
Liabilities
Secured debt, net	$	—		$	—	$	—	$	—	$	115,679	$	—		$	115,679
Revolving credit facility	—			624,000		—		—		—		—			624,000
Term loans, net	—			1,094,177		—		90,753		—		—			1,184,930
Senior unsecured notes, net	—			1,307,394		—		—		—		—			1,307,394
Accounts payable and accrued liabilities	21,750			29,253		—		2,695		52,148		(11,019		)	94,827
Lease intangible liabilities, net	—			—		—		—		83,726		—			83,726
Intercompany	—			—		—		399,912		4,218,816		(4,618,728		)	—
Total liabilities	21,750			3,054,824		—		493,360		4,470,369		(4,629,747		)	3,410,556
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,250,414			1,258,715		—		1,280,048		382,830		(2,921,593		)	3,250,414
Noncontrolling interests	—			—		—		—		4,333		—			4,333
Total equity	3,250,414			1,258,715		—		1,280,048		387,163		(2,921,593		)	3,254,747
Total liabilities and equity	$	3,272,164		$	4,313,539	$	—	$	1,773,408	$	4,857,532	$	(7,551,340	)	$	6,665,303


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

CONSOLIDATING BALANCE SHEET

December 31, 2017

(in thousands, except share and per share amounts)



						Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾		Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾		Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾		Elimination			Consolidated
Assets
Real estate investments, net of accumulated depreciation	$	324		$	—	$	—	$	1,756,933	$	4,237,175	$	—		$	5,994,432
Loans receivable and other investments, net	(97		)	—		—		55,297		59,190		—			114,390
Cash and cash equivalents	511,670			—		—		449		6,513		—			518,632
Restricted cash	—			—		—		36,910		31,907		—			68,817
Lease intangible assets, net	—			—		—		17,577		149,542		—			167,119
Accounts receivable, prepaid expenses and other assets, net	3,499			36,073		—		80,739		53,765		(5,189		)	168,887
Intercompany	2,043,402			2,721,979		—		—		—		(4,765,381		)	—
Investment in subsidiaries	890,462			1,198,305		—		14,661		—		(2,103,428		)	—
Total assets	$	3,449,260		$	3,956,357	$	—	$	1,962,566	$	4,538,092	$	(6,873,998	)	$	7,032,277
Liabilities
Secured debt, net	$	—		$	—	$	—	$	—	$	256,430	$	—		$	256,430
Revolving credit facility	—			641,000		—		—		—		—			641,000
Term loans, net	—			1,092,397		—		98,377		—		—			1,190,774
Senior unsecured notes, net	—			1,306,286		—		—		—		—			1,306,286
Accounts payable and accrued liabilities	16,453			26,212		—		3,560		61,487		(5,189		)	102,523
Lease intangible liabilities, net	—			—		—		—		98,015		—			98,015
Intercompany	—			—		—		785,120		3,980,261		(4,765,381		)	—
Total liabilities	16,453			3,065,895		—		887,057		4,396,193		(4,770,570		)	3,595,028
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,432,807			890,462		—		1,075,509		137,457		(2,103,428		)	3,432,807
Noncontrolling interests	—			—		—		—		4,442		—			4,442
Total equity	3,432,807			890,462		—		1,075,509		141,899		(2,103,428		)	3,437,249
Total liabilities and equity	$	3,449,260		$	3,956,357	$	—	$	1,962,566	$	4,538,092	$	(6,873,998	)	$	7,032,277


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

Consolidating Statement of Income

CONSOLIDATING STATEMENT OF INCOME

For the Year Ended December 31, 2018

(in thousands, except share and per share amounts)



							Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾			Elimination			Consolidated
Revenues:
Rental income	$	—		$	—		$	—	$	170,400		$	383,630		$	(17,425	)	$	536,605
Interest and other income	110			399			—		5,632			10,925			(399		)	16,667
Resident fees and services	—			—			—		—			70,137			—			70,137
Total revenues	110			399			—		176,032			464,692			(17,824		)	623,409
Expenses:
Depreciation and amortization	887			—			—		57,143			133,349			—			191,379
Interest	—			134,096			—		3,334			10,075			(399		)	147,106
Operating expenses	—			—			—		—			66,971			(17,425		)	49,546
General and administrative	26,801			71			—		2,078			7,508			—			36,458
Merger and acquisition costs	642			—			—		—			(6		)	—			636
Provision for doubtful accounts, straight-line rental income and loan losses	822			—			—		30,710			7,543			—			39,075
Impairment of real estate	—			—			—		1,413			—			—			1,413
Total expenses	29,152			134,167			—		94,678			225,440			(17,824		)	465,613
Other income (expense):
Loss on extinguishment of debt	—			—			—		—			(2,917		)	—			(2,917		)
Other income	1,977			(55		)	—		990			1,568			—			4,480
Net gain on sales of real estate	—			—			—		108,697			19,501			—			128,198
Total other income	1,977			(55		)	—		109,687			18,152			—			129,761
Income in subsidiary	307,736			441,560			—		24,316			—			(773,612		)	—
Income before loss from unconsolidated joint venture and income tax expense	280,671			307,737			—		215,357			257,404			(773,612		)	287,557
Loss from unconsolidated joint venture	—			—			—		—			(5,431		)	—			(5,431		)
Income tax expense	(1,589		)	(1		)	—		(1,114		)	(307		)	—			(3,011		)
Net income	279,082			307,736			—		214,243			251,666			(773,612		)	279,115
Net income attributable to noncontrolling interests	—			—			—		—			(33		)	—			(33		)
Net income attributable to Sabra Health Care REIT, Inc.	279,082			307,736			—		214,243			251,633			(773,612		)	279,082
Preferred stock dividends	(9,768		)	—			—		—			—			—			(9,768		)
Net income attributable to common stockholders	$	269,314		$	307,736		$	—	$	214,243		$	251,633		$	(773,612	)	$	269,314

Net income attributable to common stockholders, per:
Basic common share																		$	1.51
Diluted common share																		$	1.51
Weighted-average number of common shares outstanding, basic																		178,305,738
Weighted-average number of common shares outstanding, diluted																		178,721,744


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

CONSOLIDATING STATEMENT OF INCOME

For the Year Ended December 31, 2017

(in thousands, except share and per share amounts)



							Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾			Elimination			Consolidated
Revenues:
Rental income	$	—		$	—		$	—	$	213,162		$	158,542		$	(7,513	)	$	364,191
Interest and other income	39			143			—		9,098			5,907			(161		)	15,026
Resident fees and services	—			—			—		—			26,430			—			26,430
Total revenues	39			143			—		222,260			190,879			(7,674		)	405,647
Expenses:
Depreciation and amortization	867			—			—		67,723			45,292			—			113,882
Interest	—			77,767			—		2,989			7,827			(143		)	88,440
Operating expenses	—			—			—		—			25,391			(7,531		)	17,860
General and administrative	24,810			65			—		3,854			3,672			—			32,401
Merger and acquisition costs	30,208			—			—		47			—			—			30,255
Provision for doubtful accounts, straight-line rental income and loan losses	227			—			—		16,886			—			—			17,113
Impairment of real estate	—			—			—		1,326			—			—			1,326
Total expenses	56,112			77,832			—		92,825			82,182			(7,674		)	301,277
Other income (expense):
Loss on extinguishment of debt	—			(422		)	—		(131		)	—			—			(553		)
Other income (expense)	2,634			1,130			—		(617		)	23			—			3,170
Net gain (loss) on sales of real estate	—			—			—		54,627			(2,598		)	—			52,029
Total other income (expense)	2,634			708			—		53,879			(2,575		)	—			54,646
Income in subsidiary	212,432			289,414			—		7,199			—			(509,045		)	—
Income before income tax (expense) benefit	158,993			212,433			—		190,513			106,122			(509,045		)	159,016
Income tax (expense) benefit	(610		)	(1		)	—		(139		)	99			—			(651		)
Net income	158,383			212,432			—		190,374			106,221			(509,045		)	158,365
Net loss attributable to noncontrolling interests	—			—			—		—			18			—			18
Net income attributable to Sabra Health Care REIT, Inc.	158,383			212,432			—		190,374			106,239			(509,045		)	158,383
Preferred stock dividends	(10,242		)	—			—		—			—			—			(10,242		)
Net income attributable to common stockholders	$	148,141		$	212,432		$	—	$	190,374		$	106,239		$	(509,045	)	$	148,141

Net income attributable to common stockholders, per:
Basic common share																		$	1.40
Diluted common share																		$	1.40
Weighted-average number of common shares outstanding, basic																		105,621,242
Weighted-average number of common shares outstanding, diluted																		105,842,434


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

CONSOLIDATING STATEMENT OF INCOME

For the Year Ended December 31, 2016

(in thousands, except share and per share amounts)



							Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾			Elimination			Consolidated
Revenues:
Rental income	$	—		$	—		$	—	$	206,897		$	20,706		$	(2,328	)	$	225,275
Interest and other income	3			—			—		27,712			1			(253		)	27,463
Resident fee and services	—			—			—		—			7,788			—			7,788
Total revenues	3			—			—		234,609			28,495			(2,581		)	260,526
Expenses:
Depreciation and amortization	816			—			—		61,371			6,285			—			68,472
Interest	—			54,589			—		3,497			6,787			—			64,873
Operating expenses	—			—			—		—			8,066			(2,363		)	5,703
General and administrative	15,798			56			—		1,652			166			—			17,672
Merger and acquisition costs	(7		)	—			—		1,204			—			—			1,197
(Recovery of) provision for doubtful accounts, straight-line rental income and loan losses	(1,376		)	—			—		6,498			421			—			5,543
Impairment of real estate	—			—			—		29,811			—			—			29,811
Total expenses	15,231			54,645			—		104,033			21,725			(2,363		)	193,271
Other income (expense):
Loss on extinguishment of debt	—			(468		)	—		(88		)	—			—			(556		)
Other income (expense)	7,366			(196		)	—		3,507			—			—			10,677
Net (loss) gain on sale of real estate	—			—			—		(6,143		)	21			—			(6,122		)
Total other income (expense)	7,366			(664		)	—		(2,724		)	21			—			3,999
Income in subsidiary	78,783			134,093			—		6,840			—			(219,716		)	—
Income before income tax expense	70,921			78,784			—		134,692			6,791			(219,934		)	71,254
Income tax expense	(427		)	(1		)	—		(538		)	(83		)	—			(1,049		)
Net income	70,494			78,783			—		134,154			6,708			(219,934		)	70,205
Net loss attributable to noncontrolling interests	—			—			—		—			71			—			71
Net income attributable to Sabra Health Care REIT, Inc.	70,494			78,783			—		134,154			6,779			(219,934		)	70,276
Preferred stock dividends	(10,242		)	—			—		—			—			—			(10,242		)
Net income attributable to common stockholders	$	60,252		$	78,783		$	—	$	134,154		$	6,779		$	(219,934	)	$	60,034

Net income attributable to common stockholders, per:
Basic common share																		$	0.92
Diluted common share																		$	0.92
Weighted-average number of common shares outstanding, basic																		65,284,251
Weighted-average number of common shares outstanding, diluted																		65,520,672


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

Consolidating Statement of Comprehensive Income

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Year Ended December 31, 2018

(in thousands)



					Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾		Operating Partnership⁽²⁾		Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾			Elimination			Consolidated
Net income	$	279,082	$	307,736	$	—	$	214,243		$	251,666		$	(773,612	)	$	279,115
Other comprehensive income (loss):
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	—		4,329		—		(2,751		)	(858		)	—			720
Unrealized gain on cash flow hedge	—		244		—		48			—			—			292
Total other comprehensive income (loss)	—		4,573		—		(2,703		)	(858		)	—			1,012
Comprehensive income	279,082		312,309		—		211,540			250,808			(773,612		)	280,127
Comprehensive income attributable to noncontrolling interests	—		—		—		—			(33		)	—			(33		)
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$	279,082	$	312,309	$	—	$	211,540		$	250,775		$	(773,612	)	$	280,094


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Year Ended December 31, 2017

(in thousands)



						Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾		Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾		Elimination			Consolidated
Net income	$	158,383	$	212,432		$	—	$	190,374		$	106,221	$	(509,045	)	$	158,365
Other comprehensive income:
Unrealized gain (loss), net of tax:
Foreign currency translation (loss) gain	—		(2,821		)	—		2,233			742		—			154
Unrealized gain (loss) on cash flow hedge	—		13,078			—		(145		)	—		—			12,933
Total other comprehensive income	—		10,257			—		2,088			742		—			13,087
Comprehensive income	158,383		222,689			—		192,462			106,963		(509,045		)	171,452
Comprehensive loss attributable to noncontrolling interests	—		—			—		—			18		—			18
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$	158,383	$	222,689		$	—	$	192,462		$	106,981	$	(509,045	)	$	171,470


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Year Ended December 31, 2016

(in thousands)



						Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾		Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾		Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾		Elimination			Consolidated
Net income	$	70,494	$	78,783		$	—	$	134,154	$	6,708	$	(219,934	)	$	70,205
Other comprehensive income:
Unrealized gain (loss), net of tax:
Foreign currency translation (loss) gain	—		(2,080		)	—		364		82		—			(1,634		)
Unrealized gain on cash flow hedges	—		7,169			—		—		—		—			7,169
Total other comprehensive income	—		5,089			—		364		82		—			5,535
Comprehensive income	70,494		83,872			—		134,518		6,790		(219,934		)	75,740
Comprehensive loss attributable to noncontrolling interests	—		—			—		—		71		—			71
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$	70,494	$	83,872		$	—	$	134,518	$	6,861	$	(219,934	)	$	75,811


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

Consolidating Statement of Cash Flows

CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2018

(in thousands)



							Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾			Elimination			Consolidated
Net cash provided by operating activities	$	310,442		$	—		$	—	$	1,639		$	46,462		$	—		$	358,543
Cash flows from investing activities:
Acquisition of real estate	—			—			—		(77,225		)	(184,286		)	—			(261,511		)
Origination and fundings of loans receivable	—			—			—		(6,317		)	(44,414		)	—			(50,731		)
Origination and fundings of preferred equity investments	—			—			—		(5,313		)	—			—			(5,313		)
Additions to real estate	(40		)	—			—		(6,862		)	(20,795		)	—			(27,697		)
Repayment of loans receivable	—			—			—		8,946			42,843			—			51,789
Repayment of preferred equity investments	—			—			—		6,870			—			—			6,870
Investment in unconsolidated JV	—			—			—		—			(354,461		)	—			(354,461		)
Net proceeds from sales of real estate	—			—			—		284,958			97,602			—			382,560
Distribution from subsidiaries	5,457			5,457			—		—			—			(10,914		)	—
Intercompany financing	(317,225		)	(299,873		)	—		—			—			617,098			—
Net cash (used in) provided by investing activities	(311,808		)	(294,416		)	—		205,057			(463,511		)	606,184			(258,494		)
Cash flows from financing activities:
Net repayments of revolving credit facility	—			(17,000		)	—		—			—			—			(17,000		)
Principal payments on secured debt	—			—			—		—			(140,338		)	—			(140,338		)
Payments of deferred financing costs	—			(352		)	—		—			—			—			(352		)
Distributions to noncontrolling interest	—			—			—		—			(142		)	—			(142		)
Preferred stock redemption	(143,750		)	—			—		—			—			—			(143,750		)
Issuance of common stock, net	(499		)	—			—		—			—			—			(499		)
Dividends paid on common and preferred stock	(325,220		)	—			—		—			—			—			(325,220		)
Distribution to parent	—			(5,457		)	—		—			(5,457		)	10,914			—
Intercompany financing	—			317,225			—		(238,392		)	538,265			(617,098		)	—
Net cash (used in) provided by financing activities	(469,469		)	294,416			—		(238,392		)	392,328			(606,184		)	(627,301		)
Net decrease in cash, cash equivalents and restricted cash	(470,835		)	—			—		(31,696		)	(24,721		)	—			(527,252		)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	—			—			—		(335		)	(204		)	—			(539		)
Cash, cash equivalents and restricted cash, beginning of period	511,670			—			—		37,359			38,420			—			587,449
Cash, cash equivalents and restricted cash, end of period	$	40,835		$	—		$	—	$	5,328		$	13,495		$	—		$	59,658


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2017

(in thousands)



							Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾			Elimination			Consolidated
Net cash provided by operating activities	$	59,640		$	—		$	—	$	41,085		$	35,064		$	—		$	135,789
Cash flows from investing activities:
Acquisition of real estate	—			—			—		(419,905		)	—			—			(419,905		)
Cash received in CCP Merger	77,859			—			—		—			—			—			77,859
Origination and fundings of loans receivable	—			—			—		(1,799		)	(15,440		)	—			(17,239		)
Origination and fundings of preferred equity investments	—			—			—		(2,749		)	—			—			(2,749		)
Additions to real estate	(181		)	—			—		(2,339		)	(4,434		)	—			(6,954		)
Repayment of loans receivable	—			—			—		12,441			19,989			—			32,430
Repayment of preferred equity investments	—			—			—		3,755			—			—			3,755
Net proceeds from sales of real estate	—			—			—		149,849			394			—			150,243
Distribution from subsidiaries	2,474			2,474			—		—			—			(4,948		)	—
Intercompany financing	168,999			(249,664		)	—		—			—			80,665			—
Net cash provided by (used in) investing activities	249,151			(247,190		)	—		(260,747		)	509			75,717			(182,560		)
Cash flows from financing activities:
Net borrowings from revolving credit facility	—			253,000			—		—			—			—			253,000
Proceeds from term loans	—			181,000			—		—			—			—			181,000
Principal payments on secured debt	—			—			—		—			(4,145		)	—			(4,145		)
Payments of deferred financing costs	—			(15,337		)	—		—			—			—			(15,337		)
Payment of contingent consideration	—			—			—		(382		)	—			—			(382		)
Distributions to noncontrolling interests	—			—			—		—			(30		)	—			(30		)
Issuance of common stock, net	366,800			—			—		—			—			—			366,800
Dividends paid on common and preferred stock	(182,089		)	—			—		—			—			—			(182,089		)
Distribution to parent	—			(2,474		)	—		—			(2,474		)	4,948			—
Intercompany financing	—			(168,999		)	—		254,608			(4,944		)	(80,665		)	—
Net cash provided by (used in) financing activities	184,711			247,190			—		254,226			(11,593		)	(75,717		)	598,817
Net increase in cash, cash equivalents and restricted cash	493,502			—			—		34,564			23,980			—			552,046
Effect of foreign currency translation on cash, cash equivalents and restricted cash	—			—			—		63			675			—			738
Cash, cash equivalents and restricted cash, beginning of period	18,168			—			—		2,732			13,765			—			34,665
Cash, cash equivalents and restricted cash, end of period	$	511,670		$	—		$	—	$	37,359		$	38,420		$	—		$	587,449


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2016

(in thousands)



							Combined Non-Guarantor Subsidiaries of 2026 Notes⁽⁶⁾
	Parent Company⁽¹⁾			Operating Partnership⁽²⁾			Sabra Capital Corporation⁽³⁾		Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁴⁾			Combined Non- Guarantor Subsidiaries of 2021 Notes and 2023 Notes⁽⁵⁾			Elimination			Consolidated
Net cash provided by operating activities	$	153,577		$	—		$	—	$	10,343		$	12,008		$	—		$	175,928
Cash flows from investing activities:
Acquisition of real estate	—			—			—		(153,579		)	—			—			(153,579		)
Origination and fundings of loans receivable	—			—			—		(9,675		)	—			—			(9,675		)
Origination and fundings of preferred equity investments	—			—			—		(7,348		)	—			—			(7,348		)
Additions to real estate	(124		)	—			—		(502		)	(377		)	—			(1,003		)
Repayment of loans receivable	—			—			—		215,962			—			—			215,962
Net proceeds from the sales of real estate	—			—			—		97,407			599			—			98,006
Investment in subsidiaries	(200		)	(200		)	—		—			—			400			—
Distribution from subsidiaries	6,404			6,404			—		—			—			(12,808		)	—
Intercompany financing	(23,484		)	165,842			—		—			—			(142,358		)	—
Net cash (used in) provided by investing activities	(17,404		)	172,046			—		142,265			222			(154,766		)	142,363
Cash flows from financing activities:
Net repayments of revolving credit facility	—			(229,000		)	—		—			—			—			(229,000		)
Proceeds from term loans	—			45,000			—		24,360			—			—			69,360
Principal payments on secured debt	—			—			—		(10,766		)	(4,002		)	—			(14,768		)
Payments of deferred financing costs	—			(5,326		)	—		(611		)	—			—			(5,937		)
Issuance of common stock, net	(1,289		)	—			—		—			—			—			(1,289		)
Dividends paid on common and preferred stock	(119,264		)	—			—		—			—			—			(119,264		)
Contribution from parent	—			200			—		—			200			(400		)	—
Distribution to parent	—			(6,404		)	—		—			(6,404		)	12,808			—
Intercompany financing	—			23,484			—		(165,175		)	(667		)	142,358			—
Net cash used in financing activities	(120,553		)	(172,046		)	—		(152,192		)	(10,873		)	154,766			(300,898		)
Net increase in cash, cash equivalents and restricted cash	15,620			—			—		416			1,357			—			17,393
Effect of foreign currency translation on cash, cash equivalents and restricted cash	—			—			—		72			(47		)	—			25
Cash, cash equivalents and restricted cash, beginning of period	2,548			—			—		2,244			12,455			—			17,247
Cash, cash equivalents and restricted cash, end of period	$	18,168		$	—		$	—	$	2,732		$	13,765		$	—		$	34,665


⁽¹⁾	The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes.


⁽²⁾	The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes.


⁽³⁾	Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes.


⁽⁴⁾	The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes.


⁽⁵⁾	The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes.


⁽⁶⁾	None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.