CONDENSED CONSOLIDATING INFORMATION (Tables)

9 Months Ended

Sep. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

The following summarizes our condensed consolidating information as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014:

CONDENSED CONSOLIDATING BALANCE SHEET

As of September 30, 2015

	Ventas, Inc.		Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Assets
Net real estate investments	$	5,950	$	200,306		$	20,428,245		$	—		$	20,634,501
Cash and cash equivalents	13,909		—			51,322			—			65,231
Escrow deposits and restricted cash	200		1,363			72,928			—			74,491
Investment in and advances to affiliates	12,902,429		3,545,184			—			(16,447,613		)	—
Goodwill	—		—			1,052,321			—			1,052,321
Assets held for sale	—		2,734			166,197			—			168,931
Other assets	19,836		4,437			394,229			—			418,502
Total assets	$	12,942,324	$	3,754,024		$	22,165,242		$	(16,447,613	)	$	22,413,977
Liabilities and equity
Liabilities:
Senior notes payable and other debt	$	—	$	8,293,077		$	2,975,483		$	—		$	11,268,560
Intercompany loans	7,006,558		(6,509,049		)	(497,509		)	—			—
Accrued interest	—		52,892			14,466			—			67,358
Accounts payable and other liabilities	108,640		47,188			635,602			—			791,430
Liabilities held for sale	—		—			65,465			—			65,465
Deferred income taxes	352,658		—			—			—			352,658
Total liabilities	7,467,856		1,884,108			3,193,507			—			12,545,471
Redeemable OP unitholder and noncontrolling interests	—		—			198,832			—			198,832
Total equity	5,474,468		1,869,916			18,772,903			(16,447,613		)	9,669,674
Total liabilities and equity	$	12,942,324	$	3,754,024		$	22,165,242		$	(16,447,613	)	$	22,413,977

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2014

	Ventas, Inc.		Ventas Realty (1)			Ventas Subsidiaries		Consolidated Elimination			Consolidated
	(In thousands)
Assets
Net real estate investments	$	6,404	$	216,521		$	17,426,082	$	—		$	17,649,007
Cash and cash equivalents	24,857		—			30,491		—			55,348
Escrow deposits and restricted cash	2,102		1,424			68,245		—			71,771
Investment in and advances to affiliates	10,783,780		3,430,055			—		(14,213,835		)	—
Goodwill	—		—			363,971		—			363,971
Assets held for sale	—		150,405			2,423,769		—			2,574,174
Other assets	98,605		41,821			311,216		—			451,642
Total assets	$	10,915,748	$	3,840,226		$	20,623,774	$	(14,213,835	)	$	21,165,913
Liabilities and equity
Liabilities:
Senior notes payable and other debt	$	—	$	7,371,547		$	3,456,217	$	—		$	10,827,764
Intercompany loans	5,555,196		(5,562,739		)	7,543		—			—
Accrued interest	—		43,212			18,885		—			62,097
Accounts payable and other liabilities	103,469		55,909			591,244		—			750,622
Liabilities held for sale	—		24,398			230,282		—			254,680
Deferred income taxes	344,337		—			—		—			344,337
Total liabilities	6,003,002		1,932,327			4,304,171		—			12,239,500
Redeemable OP unitholder and noncontrolling interests	—		—			172,016		—			172,016
Total equity	4,912,746		1,907,899			16,147,587		(14,213,835		)	8,754,397
Total liabilities and equity	$	10,915,748	$	3,840,226		$	20,623,774	$	(14,213,835	)	$	21,165,913

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

Condensed Consolidating Statement of Income

CONDENSED CONSOLIDATING STATEMENT OF INCOME

For the Three Months Ended September 30, 2015

	Ventas, Inc.			Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues:
Rental income	$	916		$	49,425		$	293,442		$	—		$	343,783
Resident fees and services	—			—			454,825			—			454,825
Medical office building and other services revenue	293			—			9,707			—			10,000
Income from loans and investments	50			180			18,694			—			18,924
Equity earnings in affiliates	99,873			—			(243		)	(99,630		)	—
Interest and other income	106			(2		)	(30		)	—			74
Total revenues	101,238			49,603			776,395			(99,630		)	827,606
Expenses:
Interest	(10,788		)	67,521			40,402			—			97,135
Depreciation and amortization	1,347			3,455			221,530			—			226,332
Property-level operating expenses	—			81			347,764			—			347,845
Medical office building services costs	—			—			6,416			—			6,416
General, administrative and professional fees	(678		)	5,225			27,567			—			32,114
Loss on extinguishment of debt, net	—			4,523			10,808			—			15,331
Merger-related expenses and deal costs	62,007			—			138			—			62,145
Other	271			5			4,519			—			4,795
Total expenses	52,159			80,810			659,144			—			792,113
Income (loss) from continuing operations before (loss) from unconsolidated entities, income taxes, real estate dispositions and noncontrolling interest	49,079			(31,207		)	117,251			(99,630		)	35,493
Loss from unconsolidated entities	—			(469		)	(486		)	—			(955		)
Income tax benefit	10,697			—			—			—			10,697
Income (loss) from continuing operations	59,776			(31,676		)	116,765			(99,630		)	45,235
Discontinued operations	(37,189		)	7,371			7,435			—			(22,383		)
Gain on real estate dispositions	265			—			—			—			265
Net income (loss)	22,852			(24,305		)	124,200			(99,630		)	23,117
Net income attributable to noncontrolling interest	—			—			265			—			265
Net income (loss) attributable to common stockholders	$	22,852		$	(24,305	)	$	123,935		$	(99,630	)	$	22,852

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

For the Three Months Ended September 30, 2014

	Ventas, Inc.			Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues:
Rental income	$	626		$	44,873		$	242,060		$	—		$	287,559
Resident fees and services	—			—			396,247			—			396,247
Medical office building and other services revenue	—			—			7,573			—			7,573
Income from loans and investments	1,049			—			12,137			—			13,186
Equity earnings in affiliates	124,738			—			22			(124,760		)	—
Interest and other income	109			10			248			—			367
Total revenues	126,522			44,883			658,287			(124,760		)	704,932
Expenses:
Interest	(6,199		)	49,011			34,513			—			77,325
Depreciation and amortization	1,489			3,831			167,686			—			173,006
Property-level operating expenses	—			141			306,395			—			306,536
Medical office building services costs	—			—			4,568			—			4,568
General, administrative and professional fees	1,147			5,067			23,250			—			29,464
Loss on extinguishment of debt, net	—			—			2,414			—			2,414
Merger-related expenses and deal costs	13,403			—			2,785			—			16,188
Other	6,932			—			2,481			—			9,413
Total expenses	16,772			58,050			544,092			—			618,914
Income (loss) from continuing operations before income (loss) from unconsolidated entities, income taxes, real estate dispositions and noncontrolling interest	109,750			(13,167		)	114,195			(124,760		)	86,018
Income (loss) from unconsolidated entities	—			315			(362		)	—			(47		)
Income tax benefit	1,887			—			—			—			1,887
Income (loss) from continuing operations	111,637			(12,852		)	113,833			(124,760		)	87,858
Discontinued operations	(6,130		)	15,082			9,219			—			18,171
Gain on real estate dispositions	3,625			—			—			—			3,625
Net income	109,132			2,230			123,052			(124,760		)	109,654
Net income attributable to noncontrolling interest	—			—			522			—			522
Net income attributable to common stockholders	$	109,132		$	2,230		$	122,530		$	(124,760	)	$	109,132

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

For the Nine Months Ended September 30, 2015

	Ventas, Inc.			Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues:
Rental income	$	2,747		$	148,833		$	840,298		$	—		$	991,878
Resident fees and services	—			—			1,356,384			—			1,356,384
Medical office building and other services revenue	293			—			29,658			—			29,951
Income from loans and investments	8,655			483			57,054			—			66,192
Equity earnings in affiliates	360,988			—			(383		)	(360,605		)	—
Interest and other income	482			(6		)	243			—			719
Total revenues	373,165			149,310			2,283,254			(360,605		)	2,445,124
Expenses:
Interest	(27,548		)	189,716			101,254			—			263,422
Depreciation and amortization	4,047			11,394			641,821			—			657,262
Property-level operating expenses	—			285			1,031,021			—			1,031,306
Medical office building services costs	—			—			19,098			—			19,098
General, administrative and professional fees	(598		)	16,640			84,357			—			100,399
Loss on extinguishment of debt, net	—			4,523			10,374			—			14,897
Merger-related expenses and deal costs	101,306			75			3,642			—			105,023
Other	453			49			13,446			—			13,948
Total expenses	77,660			222,682			1,905,013			—			2,205,355
Income (loss) from continuing operations before income (loss) from unconsolidated entities, income taxes, real estate dispositions and noncontrolling interest	295,505			(73,372		)	378,241			(360,605		)	239,769
Income (loss) from unconsolidated entities	—			291			(1,488		)	—			(1,197		)
Income tax benefit	27,736			—			—			—			27,736
Income (loss) from continuing operations	323,241			(73,081		)	376,753			(360,605		)	266,308
Discontinued operations	(44,546		)	34,748			23,232			—			13,434
Gain on real estate dispositions	14,420			—			—			—			14,420
Net income (loss)	293,115			(38,333		)	399,985			(360,605		)	294,162
Net income attributable to noncontrolling interest	—			—			1,047			—			1,047
Net income (loss) attributable to common stockholders	$	293,115		$	(38,333	)	$	398,938		$	(360,605	)	$	293,115

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

For the Nine Months Ended September 30, 2014

	Ventas, Inc.			Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues:
Rental income	$	1,873		$	133,346		$	711,770		$	—		$	846,989
Resident fees and services	—			—			1,141,781			—			1,141,781
Medical office building and other services revenue	—			—			18,240			—			18,240
Income from loans and investments	2,285			—			34,617			—			36,902
Equity earnings in affiliates	383,245			—			187			(383,432		)	—
Interest and other income	294			21			496			—			811
Total revenues	387,697			133,367			1,907,091			(383,432		)	2,044,723
Expenses:
Interest	(11,071		)	133,215			91,973			—			214,117
Depreciation and amortization	4,387			11,839			490,941			—			507,167
Property-level operating expenses	—			388			882,626			—			883,014
Medical office building services costs	—			—			9,565			—			9,565
General, administrative and professional fees	3,022			15,975			74,635			—			93,632
(Gain) loss on extinguishment of debt, net	(3		)	3			5,079			—			5,079
Merger-related expenses and deal costs	21,035			2,110			12,799			—			35,944
Other	7,055			—			11,015			—			18,070
Total expenses	24,425			163,530			1,578,633			—			1,766,588
Income (loss) from continuing operations before income (loss) from unconsolidated entities, income taxes, real estate dispositions and noncontrolling interest	363,272			(30,163		)	328,458			(383,432		)	278,135
Income (loss) from unconsolidated entities	—			1,156			(607		)	—			549
Income tax expense	(4,820		)	—			—			—			(4,820		)
Income (loss) from continuing operations	358,452			(29,007		)	327,851			(383,432		)	273,864
Discontinued operations	(6,389		)	47,694			37,721			—			79,026
Gain on real estate dispositions	16,514			—			—			—			16,514
Net income	368,577			18,687			365,572			(383,432		)	369,404
Net income attributable to noncontrolling interest	—			—			827			—			827
Net income attributable to common stockholders	$	368,577		$	18,687		$	364,745		$	(383,432	)	$	368,577

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

Condensed Consolidating Statement of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2015

	Ventas, Inc.		Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income (loss)	$	22,852	$	(24,305	)	$	124,200		$	(99,630	)	$	23,117
Other comprehensive loss:
Foreign currency translation	—		—			(11,239		)	—			(11,239		)
Other	—		—			467			—			467
Total other comprehensive loss	—		—			(10,772		)	—			(10,772		)
Comprehensive income (loss)	22,852		(24,305		)	113,428			(99,630		)	12,345
Comprehensive income attributable to noncontrolling interest	—		—			265			—			265
Comprehensive income (loss) attributable to common stockholders	$	22,852	$	(24,305	)	$	113,163		$	(99,630	)	$	12,080

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2014

	Ventas, Inc.			Ventas Realty (1)		Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income	$	109,132		$	2,230	$	123,052		$	(124,760	)	$	109,654
Other comprehensive loss:
Foreign currency translation	—			—		(12,885		)	—			(12,885		)
Change in unrealized gain on marketable securities	(334		)	—		—			—			(334		)
Other	—			—		3,120			—			3,120
Total other comprehensive loss	(334		)	—		(9,765		)	—			(10,099		)
Comprehensive income	108,798			2,230		113,287			(124,760		)	99,555
Comprehensive income attributable to noncontrolling interest	—			—		522			—			522
Comprehensive income attributable to common stockholders	$	108,798		$	2,230	$	112,765		$	(124,760	)	$	99,033

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2015

	Ventas, Inc.			Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income (loss)	$	293,115		$	(38,333	)	$	399,985		$	(360,605	)	$	294,162
Other comprehensive loss:
Foreign currency translation	—			—			(7,718		)	—			(7,718		)
Change in unrealized gain on marketable securities	(5,046		)	—			—			—			(5,046		)
Other	—			—			(949		)	—			(949		)
Total other comprehensive loss	(5,046		)	—			(8,667		)	—			(13,713		)
Comprehensive income (loss)	288,069			(38,333		)	391,318			(360,605		)	280,449
Comprehensive income attributable to noncontrolling interest	—			—			1,047			—			1,047
Comprehensive income (loss) attributable to common stockholders	$	288,069		$	(38,333	)	$	390,271		$	(360,605	)	$	279,402

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2014

	Ventas, Inc.		Ventas Realty (1)		Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income	$	368,577	$	18,687	$	365,572		$	(383,432	)	$	369,404
Other comprehensive income (loss):
Foreign currency translation	—		—		(7,906		)	—			(7,906		)
Change in unrealized gain on marketable securities	1,237		—		—			—			1,237
Other	—		—		3,166			—			3,166
Total other comprehensive income (loss)	1,237		—		(4,740		)	—			(3,503		)
Comprehensive income	369,814		18,687		360,832			(383,432		)	365,901
Comprehensive income attributable to noncontrolling interest	—		—		827			—			827
Comprehensive income attributable to common stockholders	$	369,814	$	18,687	$	360,005		$	(383,432	)	$	365,074

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2015

	Ventas, Inc.			Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination		Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(65,973	)	$	2,984		$	1,085,034		$	—	$	1,022,045
Net cash used in investing activities	(2,096,837		)	(15,731		)	(141,997		)	—		(2,254,565		)
Cash flows from financing activities:
Net change in borrowings under revolving credit facility	—			(658,000		)	(132,406		)	—		(790,406		)
Net cash impact of CCP Spin-Off	1,273,000			—			(1,401,749		)	—		(128,749		)
Proceeds from debt	—			2,292,568			218,493			—		2,511,061
Proceeds from debt related to CCP Spin-Off	—			—			1,400,000			—		1,400,000
Repayment of debt	—			(705,000		)	(624,070		)	—		(1,329,070		)
Net change in intercompany debt	1,451,362			(946,310		)	(505,052		)	—		—
Purchase of noncontrolling interest	—			—			(3,819		)	—		(3,819		)
Payment of deferred financing costs	—			(21,932		)	(1,961		)	—		(23,893		)
Issuance of common stock, net	417,818			—			—			—		417,818
Cash distribution (to) from affiliates	(228,908		)	51,421			177,487			—		—
Cash distribution to common stockholders	(759,575		)	—			—			—		(759,575		)
Cash distribution to redeemable OP unitholders	—			—			(12,776		)	—		(12,776		)
Purchases of redeemable OP units	—			—			(33,188		)	—		(33,188		)
Distributions to noncontrolling interest	—			—			(11,250		)	—		(11,250		)
Other	6,489			—			—			—		6,489
Net cash provided by (used in) financing activities	2,160,186			12,747			(930,291		)	—		1,242,642
Net (decrease) increase in cash and cash equivalents	(2,624		)	—			12,746			—		10,122
Effect of foreign currency translation on cash and cash equivalents	(8,324		)	—			8,085			—		(239		)
Cash and cash equivalents at beginning of period	24,857			—			30,491			—		55,348
Cash and cash equivalents at end of period	$	13,909		$	—		$	51,322		$	—	$	65,231

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2014

	Ventas, Inc.			Ventas Realty (1)			Ventas Subsidiaries			Consolidated Elimination		Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(23,288	)	$	67,829		$	875,431		$	—	$	919,972
Net cash used in investing activities	(1,073,979		)	(4,080		)	(158,111		)	—		(1,236,170		)
Cash flows from financing activities:
Net change in borrowings under revolving credit facility	—			(149,000		)	(4,684		)	—		(153,684		)
Proceeds from debt	—			696,661			1,311,046			—		2,007,707
Repayment of debt	—			—			(905,117		)	—		(905,117		)
Net change in intercompany debt	959,820			(351,059		)	(608,761		)	—		—
Payment of deferred financing costs	—			(6,561		)	(8,385		)	—		(14,946		)
Cash distribution from (to) affiliates	775,066			(253,795		)	(521,271		)	—		—
Cash distribution to common stockholders	(640,414		)	—			—			—		(640,414		)
Cash distribution to redeemable OP unitholders	(4,214		)	—			—			—		(4,214		)
Distributions to noncontrolling interest	—			—			(6,760		)	—		(6,760		)
Other	2,569			5			(3,125		)	—		(551		)
Net cash provided by (used in) financing activities	1,092,827			(63,749		)	(747,057		)	—		282,021
Net decrease in cash and cash equivalents	(4,440		)	—			(29,737		)	—		(34,177		)
Effect of foreign currency translation on cash and cash equivalents	(4,586		)	—			8,542			—		3,956
Cash and cash equivalents at beginning of period	28,169			—			66,647			—		94,816
Cash and cash equivalents at end of period	$	19,143		$	—		$	45,452		$	—	$	64,595

(1) Certain of Ventas Realty’s outstanding senior notes were issued jointly with our 100% owned subsidiary, Ventas Capital Corporation, which has no assets or operations.