SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Summary information by reportable business segment

For the three months ended September 30, 2014:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	244,206	$	—		$	116,598	$	—		$	360,804
Resident fees and services	—		396,247			—		—			396,247
Medical office building and other services revenue	1,136		—			5,937		500			7,573
Income from loans and investments	—		—			—		14,043			14,043
Interest and other income	—		—			—		368			368
Total revenues	$	245,342	$	396,247		$	122,535	$	14,911		$	779,035
Total revenues	$	245,342	$	396,247		$	122,535	$	14,911		$	779,035
Less:
Interest and other income	—		—			—		368			368
Property-level operating expenses	—		265,274			41,147		—			306,421
Medical office building services costs	—		—			4,568		—			4,568
Segment NOI	245,342		130,973			76,820		14,543			467,678
Income (loss) from unconsolidated entities	252		(225		)	66		(140		)	(47		)
Segment profit	$	245,594	$	130,748		$	76,886	$	14,403		467,631
Interest and other income											368
Interest expense											(98,469		)
Depreciation and amortization											(201,224		)
General, administrative and professional fees											(29,466		)
Loss on extinguishment of debt, net											(2,414		)
Merger-related expenses and deal costs											(16,749		)
Other											(15,229		)
Income tax benefit											1,887
Discontinued operations											(259		)
Gain on real estate dispositions											3,625
Net income											$	109,701

For the three months ended September 30, 2013:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	218,698	$	—		$	114,779	$	—		$	333,477
Resident fees and services	—		359,112			—		—			359,112
Medical office building and other services revenue	1,116		—			2,530		500			4,146
Income from loans and investments	—		—			—		14,448			14,448
Interest and other income	—		—			—		66			66
Total revenues	$	219,814	$	359,112		$	117,309	$	15,014		$	711,249
Total revenues	$	219,814	$	359,112		$	117,309	$	15,014		$	711,249
Less:
Interest and other income	—		—			—		66			66
Property-level operating expenses	—		244,316			40,566		—			284,882
Medical office building services costs	—		—			1,651		—			1,651
Segment NOI	219,814		114,796			75,092		14,948			424,650
Income (loss) from unconsolidated entities	203		(32		)	71		(132		)	110
Segment profit	$	220,017	$	114,764		$	75,163	$	14,816		424,760
Interest and other income											66
Interest expense											(83,764		)
Depreciation and amortization											(177,038		)
General, administrative and professional fees											(28,659		)
Gain on extinguishment of debt, net											189
Merger-related expenses and deal costs											(6,208		)
Other											(4,353		)
Income tax benefit											2,780
Discontinued operations											(9,174		)
Net income											$	118,599

For the nine months ended September 30, 2014:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	724,778	$	—		$	346,711	$	—		$	1,071,489
Resident fees and services	—		1,141,781			—		—			1,141,781
Medical office building and other services revenue	3,429		—			13,311		1,500			18,240
Income from loans and investments	—		—			—		39,435			39,435
Interest and other income	—		—			—		814			814
Total revenues	$	728,207	$	1,141,781		$	360,022	$	41,749		$	2,271,759
Total revenues	$	728,207	$	1,141,781		$	360,022	$	41,749		$	2,271,759
Less:
Interest and other income	—		—			—		814			814
Property-level operating expenses	—		762,993			119,827		—			882,820
Medical office building services costs	—		—			9,565		—			9,565
Segment NOI	728,207		378,788			230,630		40,935			1,378,560
Income (loss) from unconsolidated entities	838		(209		)	326		(406		)	549
Segment profit	$	729,045	$	378,579		$	230,956	$	40,529		1,379,109
Interest and other income											814
Interest expense											(277,811		)
Depreciation and amortization											(585,636		)
General, administrative and professional fees											(93,638		)
Loss on extinguishment of debt, net											(5,079		)
Merger-related expenses and deal costs											(37,108		)
Other											(25,321		)
Income tax expense											(4,820		)
Discontinued operations											2,517
Gain on real estate dispositions											16,514
Net income											$	369,541

For the nine months ended September 30, 2013:

	Triple-Net Leased Properties		Senior Living Operations			MOB Operations		All Other			Total
	(In thousands)
Revenues:
Rental income	$	644,403	$	—		$	335,472	$	—		$	979,875
Resident fees and services	—		1,039,876			—		—			1,039,876
Medical office building and other services revenue	3,342		—			7,226		763			11,331
Income from loans and investments	—		—			—		45,284			45,284
Interest and other income	—		—			—		1,901			1,901
Total revenues	$	647,745	$	1,039,876		$	342,698	$	47,948		$	2,078,267
Total revenues	$	647,745	$	1,039,876		$	342,698	$	47,948		$	2,078,267
Less:
Interest and other income	—		—			—		1,901			1,901
Property-level operating expenses	—		706,561			115,010		—			821,571
Medical office building services costs	—		—			4,957		—			4,957
Segment NOI	647,745		333,315			222,731		46,047			1,249,838
Income (loss) from unconsolidated entities	573		(1,173		)	1,456		(323		)	533
Segment profit	$	648,318	$	332,142		$	224,187	$	45,724		1,250,371
Interest and other income											1,901
Interest expense											(244,635		)
Depreciation and amortization											(524,033		)
General, administrative and professional fees											(84,757		)
Gain on extinguishment of debt, net											909
Merger-related expenses and deal costs											(17,137		)
Other											(13,325		)
Income tax benefit											13,100
Discontinued operations											(36,164		)
Net income											$	346,230

Capital expenditures, including investments in real estate property and development project expenditures, by reportable business segment are as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
	(In thousands)
Capital expenditures:
Triple-net leased properties	$	99,590	$	793,594	$	349,022	$	838,598
Senior living operations	853,723		226,442		932,903		471,531
MOB operations	6,858		99,706		29,721		173,978
Total capital expenditures	$	960,171	$	1,119,742	$	1,311,646	$	1,484,107

Revenues from external customers and net real estate property by geographic area

Geographic information regarding our operations is as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
	(In thousands)
Revenues:
United States	$	739,320	$	687,925	$	2,184,152	$	2,008,111
Canada	35,129		23,324		78,168		70,156
United Kingdom	4,586		—		9,439		—
Total revenues	$	779,035	$	711,249	$	2,271,759	$	2,078,267

	As of September 30, 2014		As of December 31, 2013
	(In thousands)
Net real estate property:
United States	$	17,420,653	$	17,705,962
Canada	1,328,742		369,624
United Kingdom	176,416		—
Total net real estate property	$	18,925,811	$	18,075,586