ACQUISITIONS OF REAL ESTATE PROPERTY (Tables)

6 Months Ended

Jun. 30, 2015

2015 Acquisitions

Business Acquisition [Line Items]

Acquisition Date Fair Values of the Assets Acquired and Liabilities Assumed

The following table summarizes the acquisition date fair values of the assets acquired and liabilities assumed, which we determined using level two and level three inputs:

	Triple-Net Leased Properties		Senior Living Operations		MOB Operations		Total
	(In thousands)
Land and improvements	$	123,879	$	70,713	$	171,650	$	366,242
Buildings and improvements	627,111		703,080		1,125,726		2,455,917
Acquired lease intangibles	23,564		83,867		178,165		285,596
Other assets	143,372		275,139		401,701		820,212
Total assets acquired	917,926		1,132,799		1,877,242		3,927,967
Notes payable and other debt	—		77,940		99,917		177,857
Other liabilities	34,992		45,142		48,789		128,923
Total liabilities assumed	34,992		123,082		148,706		306,780
Net assets acquired	882,934		1,009,717		1,728,536		3,621,187
Redeemable OP unitholder interests assumed							87,245
Cash acquired							54,778
Equity issued							2,216,355
Total cash used							$	1,262,809

2014 Acquisitions

Business Acquisition [Line Items]

Acquisition Date Fair Values of the Assets Acquired and Liabilities Assumed

The following table summarizes the acquisition date fair values of the assets acquired and liabilities assumed in our 2014 real estate acquisitions, which we determined using level two and level three inputs:

	Triple-Net Leased Properties		Senior Living Operations		Total
	(In thousands)
Land and improvements	$	45,586	$	100,281	$	145,867
Buildings and improvements	546,849		1,081,384		1,628,233
Acquired lease intangibles	28,883		36,452		65,335
Other assets	227		12,393		12,620
Total assets acquired	621,545		1,230,510		1,852,055
Notes payable and other debt	12,927		228,150		241,077
Other liabilities	8,609		124,714		133,323
Total liabilities assumed	21,536		352,864		374,400
Net assets acquired	600,009		877,646		1,477,655
Cash acquired	227		8,704		8,931
Total cash used	$	599,782	$	868,942	$	1,468,724

American Realty Capital Healthcare Trust

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information

The following table illustrates the effect on net income and earnings per share if we had consummated the HCT acquisition as of January 1, 2014.

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2015		2014		2015		2014
	(In thousands, except per share amounts)
Revenues	$	891,250	$	824,308	$	1,788,818	$	1,638,813
Income from continuing operations attributable to common stockholders, including real estate dispositions	$	149,074	$	141,923	$	288,796	$	263,190
Earnings per common share:
Basic:
Income from continuing operations attributable to common stockholders, including real estate dispositions	$	0.45	$	0.44	$	0.88	$	0.82
Diluted:
Income from continuing operations attributable to common stockholders, including real estate dispositions	$	0.45	$	0.44	$	0.87	$	0.81
Weighted average shares used in computing earnings per common share:
Basic	330,715		322,403		327,890		322,347
Diluted	334,026		326,037		331,424		325,902