Condensed Consolidating Information (Tables)

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]



	As of December 31, 2016
	Ventas, Inc.		Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Assets
Net real estate investments	$	2,007	$	173,259		$	21,017,430		$	—		$	21,192,696
Cash and cash equivalents	210,303		—			76,404			—			286,707
Escrow deposits and restricted cash	198		1,504			78,945			—			80,647
Investment in and advances to affiliates	14,258,162		2,938,442			—			(17,196,604		)	—
Goodwill	—		—			1,033,225			—			1,033,225
Assets held for sale	—		—			54,961			—			54,961
Other assets	35,468		6,792			476,104			—			518,364
Total assets	$	14,506,138	$	3,119,997		$	22,737,069		$	(17,196,604	)	$	23,166,600
Liabilities and equity
Liabilities:
Senior notes payable and other debt	$	—	$	8,406,979		$	2,720,347		$	—		$	11,127,326
Intercompany loans	7,087,902		(6,209,707		)	(878,195		)	—			—
Accrued interest	—		65,403			18,359			—			83,762
Accounts payable and other liabilities	89,284		35,587			783,057			—			907,928
Liabilities held for sale	—		(1		)	1,463			—			1,462
Deferred income taxes	316,641		—			—			—			316,641
Total liabilities	7,493,827		2,298,261			2,645,031			—			12,437,119
Redeemable OP unitholder and noncontrolling interests	—		—			200,728			—			200,728
Total equity	7,012,311		821,736			19,891,310			(17,196,604		)	10,528,753
Total liabilities and equity	$	14,506,138	$	3,119,997		$	22,737,069		$	(17,196,604	)	$	23,166,600

CONDENSED CONSOLIDATING BALANCE SHEET



	As of December 31, 2015
	Ventas, Inc.		Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Assets
Net real estate investments	$	5,798	$	195,015		$	20,377,226		$	—		$	20,578,039
Cash and cash equivalents	11,733		—			41,290			—			53,023
Escrow deposits and restricted cash	7,154		1,644			69,098			—			77,896
Investment in and advances to affiliates	12,989,643		3,545,183			—			(16,534,826		)	—
Goodwill	—		—			1,047,497			—			1,047,497
Assets held for sale	—		4,488			88,572			—			93,060
Other assets	17,869		4,182			390,352			—			412,403
Total assets	$	13,032,197	$	3,750,512		$	22,014,035		$	(16,534,826	)	$	22,261,918
Liabilities and equity
Liabilities:
Senior notes payable and other debt	$	—	$	8,370,670		$	2,836,326		$	—		$	11,206,996
Intercompany loans	7,294,158		(6,571,512		)	(722,646		)	—			—
Accrued interest	—		64,561			16,303			—			80,864
Accounts payable and other liabilities	68,604		45,226			665,550			—			779,380
Liabilities held for sale	—		44			34,296			—			34,340
Deferred income taxes	338,382		—			—			—			338,382
Total liabilities	7,701,144		1,908,989			2,829,829			—			12,439,962
Redeemable OP unitholder and noncontrolling interests	—		—			196,529			—			196,529
Total equity	5,331,053		1,841,523			18,987,677			(16,534,826		)	9,625,427
Total liabilities and equity	$	13,032,197	$	3,750,512		$	22,014,035		$	(16,534,826	)	$	22,261,918

CONDENSED CONSOLIDATING STATEMENT OF INCOME



	For the Year Ended December 31, 2016
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues
Rental income	$	2,670		$	196,991		$	1,276,515		$	—		$	1,476,176
Resident fees and services	—			—			1,847,306			—			1,847,306
Office building and other services revenues	1,605			—			19,465			—			21,070
Income from loans and investments	341			—			97,753			—			98,094
Equity earnings in affiliates	500,515			—			(1,223		)	(499,292		)	—
Interest and other income	666			—			210			—			876
Total revenues	505,797			196,991			3,240,026			(499,292		)	3,443,522
Expenses
Interest	(46,650		)	281,458			184,932			—			419,740
Depreciation and amortization	8,968			18,297			871,659			—			898,924
Property-level operating expenses	—			317			1,434,445			—			1,434,762
Office building services costs	—			—			7,311			—			7,311
General, administrative and professional fees	509			18,320			108,046			—			126,875
Loss on extinguishment of debt, net	—			2,770			9			—			2,779
Merger-related expenses and deal costs	23,068			—			1,567			—			24,635
Other	(705		)	41			10,652			—			9,988
Total expenses	(14,810		)	321,203			2,618,621			—			2,925,014
Income (loss) before unconsolidated entities, income taxes, discontinued operations, real estate dispositions and noncontrolling interest	520,607			(124,212		)	621,405			(499,292		)	518,508
Income from unconsolidated entities	—			1,840			2,518			—			4,358
Income tax benefit	31,343			—			—			—			31,343
Income (loss) from continuing operations	551,950			(122,372		)	623,923			(499,292		)	554,209
Discontinued operations	(922		)	—			—			—			(922		)
Gain on real estate dispositions	98,203			—			—			—			98,203
Net income (loss)	649,231			(122,372		)	623,923			(499,292		)	651,490
Net income attributable to noncontrolling interest	—			—			2,259			—			2,259
Net income (loss) attributable to common stockholders	$	649,231		$	(122,372	)	$	621,664		$	(499,292	)	$	649,231

CONDENSED CONSOLIDATING STATEMENT OF INCOME



	For the Year Ended December 31, 2015
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues
Rental income	$	3,663		$	198,017		$	1,144,366		$	—		$	1,346,046
Resident fees and services	—			—			1,811,255			—			1,811,255
Office building and other services revenues	895			—			40,597			—			41,492
Income from loans and investments	8,605			534			77,414			—			86,553
Equity earnings in affiliates	458,213			—			(649		)	(457,564		)	—
Interest and other income	495			(6		)	563			—			1,052
Total revenues	471,871			198,545			3,073,546			(457,564		)	3,286,398
Expenses
Interest	(38,393		)	257,503			148,004			—			367,114
Depreciation and amortization	5,443			14,679			873,935			—			894,057
Property-level operating expenses	—			367			1,383,273			—			1,383,640
Office building services costs	—			—			26,565			—			26,565
General, administrative and professional fees	(321		)	20,777			107,579			—			128,035
Loss on extinguishment of debt, net	—			4,523			9,888			—			14,411
Merger-related expenses and deal costs	98,644			75			4,225			—			102,944
Other	(358		)	45			18,270			—			17,957
Total expenses	65,015			297,969			2,571,739			—			2,934,723
Income (loss) before unconsolidated entities, income taxes, discontinued operations and noncontrolling interest	406,856			(99,424		)	501,807			(457,564		)	351,675
Loss from unconsolidated entities	—			(183		)	(1,237		)	—			(1,420		)
Income tax benefit	39,284			—			—			—			39,284
Income (loss) from continuing operations	446,140			(99,607		)	500,570			(457,564		)	389,539
Discontinued operations	(46,877		)	34,748			23,232			—			11,103
Gain on real estate dispositions	18,580			—			—			—			18,580
Net income (loss)	417,843			(64,859		)	523,802			(457,564		)	419,222
Net income attributable to noncontrolling interest	—			—			1,379			—			1,379
Net income (loss) attributable to common stockholders	$	417,843		$	(64,859	)	$	522,423		$	(457,564	)	$	417,843

CONDENSED CONSOLIDATING STATEMENT OF INCOME



	For the Year Ended December 31, 2014
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues
Rental income	$	2,789		$	180,907		$	954,761		$	—		$	1,138,457
Resident fees and services	—			—			1,552,951			—			1,552,951
Office building and other services revenues	—			—			29,364			—			29,364
Income from loans and investments	3,052			—			48,726			—			51,778
Equity earnings in affiliates	480,267			—			199			(480,466		)	—
Interest and other income	3,314			26			923			—			4,263
Total revenues	489,422			180,933			2,586,924			(480,466		)	2,776,813
Expenses
Interest	(18,210		)	185,983			124,292			—			292,065
Depreciation and amortization	5,860			15,743			703,613			—			725,216
Property-level operating expenses	1			481			1,194,906			—			1,195,388
Office building services costs	—			—			17,092			—			17,092
General, administrative and professional fees	3,910			19,792			98,036			—			121,738
(Gain) loss on extinguishment of debt, net	(3		)	3			5,564			—			5,564
Merger-related expenses and deal costs	26,209			2,110			14,985			—			43,304
Other	9,732			—			16,011			—			25,743
Total expenses	27,499			224,112			2,174,499			—			2,426,110
Income (loss) before unconsolidated entities, income taxes, discontinued operations, and noncontrolling interest	461,923			(43,179		)	412,425			(480,466		)	350,703
Income (loss) from unconsolidated entities	—			1,250			(1,389		)	—			(139		)
Income tax benefit	8,732			—			—			—			8,732
Income (loss) from continuing operations	470,655			(41,929		)	411,036			(480,466		)	359,296
Discontinued operations	(12,858		)	61,755			50,838			—			99,735
Gain on real estate dispositions	17,970			—			—			—			17,970
Net income	475,767			19,826			461,874			(480,466		)	477,001
Net income attributable to noncontrolling interest	—			—			1,234			—			1,234
Net income attributable to common stockholders	$	475,767		$	19,826		$	460,640		$	(480,466	)	$	475,767

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME



	For the Year Ended December 31, 2016
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income (loss)	$	649,231		$	(122,372	)	$	623,923		$	(499,292	)	$	651,490
Other comprehensive loss:
Foreign currency translation	—			—			(52,266		)	—			(52,266		)
Change in unrealized gain on marketable debt securities	(310		)	—			—			—			(310		)
Other	—			—			2,607			—			2,607
Total other comprehensive loss	(310		)	—			(49,659		)	—			(49,969		)
Comprehensive income (loss)	648,921			(122,372		)	574,264			(499,292		)	601,521
Comprehensive income attributable to noncontrolling interest	—			—			2,259			—			2,259
Comprehensive income (loss) attributable to common stockholders	$	648,921		$	(122,372	)	$	572,005		$	(499,292	)	$	599,262



	For the Year Ended December 31, 2015
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income	$	417,843		$	(64,859	)	$	523,802		$	(457,564	)	$	419,222
Other comprehensive loss:
Foreign currency translation	—			—			(14,792		)	—			(14,792		)
Change in unrealized gain on marketable debt securities	(5,236		)	—			—			—			(5,236		)
Other	—			—			(658		)	—			(658		)
Total other comprehensive loss	(5,236		)	—			(15,450		)	—			(20,686		)
Comprehensive income (loss)	412,607			(64,859		)	508,352			(457,564		)	398,536
Comprehensive income attributable to noncontrolling interest	—			—			1,379			—			1,379
Comprehensive income (loss) attributable to common stockholders	$	412,607		$	(64,859	)	$	506,973		$	(457,564	)	$	397,157



	For the Year Ended December 31, 2014
	Ventas, Inc.		Ventas Realty		Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income	$	475,767	$	19,826	$	461,874		$	(480,466	)	$	477,001
Other comprehensive income (loss):
Foreign currency translation	—		—		(17,153		)	—			(17,153		)
Change in unrealized gain on marketable debt securities	7,001		—		—			—			7,001
Other	—		—		3,614			—			3,614
Total other comprehensive income (loss)	7,001		—		(13,539		)	—			(6,538		)
Comprehensive income	482,768		19,826		448,335			(480,466		)	470,463
Comprehensive income attributable to noncontrolling interest	—		—		1,234			—			1,234
Comprehensive income attributable to common stockholders	$	482,768	$	19,826	$	447,101		$	(480,466	)	$	469,229

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS



	For the Year Ended December 31, 2016
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination		Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	65,121		$	(93,432	)	$	1,395,768		$	—	$	1,367,457
Cash flows from investing activities:
Net investment in real estate property	(1,448,230		)	—			19,118			—		$	(1,429,112	)
Investment in loans receivable and other	—			—			(158,635		)			$	(158,635	)
Proceeds from real estate disposals	257,441			—			43,120			—		$	300,561
Proceeds from loans receivable	—			—			320,082			—		$	320,082
Development project expenditures	—			—			(143,647		)	—		$	(143,647	)
Capital expenditures	—			(314		)	(117,142		)	—		$	(117,456	)
Other	—			—			(6,436		)	—		(6,436		)
Net cash used in investing activities	(1,190,789		)	(314		)	(43,540		)	—		(1,234,643		)
Cash flows from financing activities:
Net change in borrowings under credit facilities	—			(171,000		)	135,363			—		(35,637		)
Proceeds from debt	—			846,521			46,697			—		893,218
Repayment of debt	—			(651,820		)	(370,293		)	—		(1,022,113		)
Net change in intercompany debt	990,056			82,266			(1,072,322		)	—		—
Purchase of noncontrolling interest	—			—			(2,846		)	—		(2,846		)
Payment of deferred financing costs	—			(5,787		)	(768		)	—		(6,555		)
Issuance of common stock, net	1,286,680			—			—			—		1,286,680
Cash distribution from (to) affiliates	106,723			(6,434		)	(100,289		)	—		—
Cash distribution to common stockholders	(1,024,968		)	—			—			—		(1,024,968		)
Cash distribution to redeemable OP unitholders	—			—			(8,640		)	—		(8,640		)
Contributions from noncontrolling interest	—			—			7,326			—		7,326
Distributions to noncontrolling interest	—			—			(6,879		)	—		(6,879		)
Other	22,136			—			—			—		22,136
Net cash provided by (used in) financing activities	1,380,627			93,746			(1,372,651		)	—		101,722
Net increase (decrease) in cash and cash equivalents	254,959			—			(20,423		)	—		234,536
Effect of foreign currency translation on cash and cash equivalents	(56,389		)	—			55,537			—		(852		)
Cash and cash equivalents at beginning of period	11,733			—			41,290			—		53,023
Cash and cash equivalents at end of period	$	210,303		$	—		$	76,404		$	—	$	286,707

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS



	For the Year Ended December 31, 2015
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination		Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(123,041	)	$	16,528		$	1,498,280		$	—	$	1,391,767
Cash flows from investing activities:
Net investment in real estate property	(2,650,788		)	—			—			—		(2,650,788		)
Investment in loans receivable and other	—			—			(171,144		)	—		(171,144		)
Proceeds from real estate disposals	492,408			—			—			—		492,408
Proceeds from loans receivable	—			—			109,176			—		109,176
Proceeds from sale or maturity of marketable securities	76,800			—			—			—		76,800
Funds held in escrow for future development expenditures	—			—			4,003			—		4,003
Development project expenditures	—			—			(119,674		)	—		(119,674		)
Capital expenditures	—			(15,733		)	(91,754		)	—		(107,487		)
Investment in unconsolidated operating entity	(26,282		)	—			—			—		(26,282		)
Contributions to unconsolidated entities	—			—			(30,704		)	—		(30,704		)
Net cash used in investing activities	(2,107,862		)	(15,733		)	(300,097		)	—		(2,423,692		)
Cash flows from financing activities:
Net change in borrowings under revolving credit facility	—			(584,000		)	(139,457		)	—		(723,457		)
Net cash impact of CCP spin-off	1,273,000			—			(1,401,749		)	—		(128,749		)
Proceeds from debt	—			2,292,568			220,179			—		2,512,747
Issuance of debt related to CCP spin-off	—			—			1,400,000					1,400,000
Repayment of debt	—			(705,000		)	(730,596		)	—		(1,435,596		)
Net change in intercompany debt	1,782,954			(1,008,773		)	(774,181		)	—		—
Purchase of noncontrolling interest	—			—			(3,819		)	—		(3,819		)
Payment of deferred financing costs	—			(22,297		)	(2,368		)	—		(24,665		)
Issuance of common stock, net	491,023			—			—			—		491,023
Cash distribution (to) from affiliates	(315,466		)	26,707			288,759			—		—
Cash distribution to common stockholders	(1,003,413		)	—			—			—		(1,003,413		)
Cash distribution to redeemable OP unitholders	—			—			(15,095		)	—		(15,095		)
Purchases of redeemable OP units	—			—			(33,188		)	—		(33,188		)
Distributions to noncontrolling interest	—			—			(12,649		)	—		(12,649		)
Other	6,983			—			—			—		6,983
Net cash provided by (used in) financing activities	2,235,081			(795		)	(1,204,164		)	—		1,030,122
Net increase (decrease) in cash and cash equivalents	4,178			—			(5,981		)	—		(1,803		)
Effect of foreign currency translation on cash and cash equivalents	(17,302		)	—			16,780			—		(522		)
Cash and cash equivalents at beginning of period	24,857			—			30,491			—		55,348
Cash and cash equivalents at end of period	$	11,733		$	—		$	41,290		$	—	$	53,023

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS



	For the Year Ended December 31, 2014
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination		Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(95,331	)	$	80,263		$	1,269,913		$	—	$	1,254,845
Cash flows from investing activities:
Net investment in real estate property	(1,468,286		)	—			—			—		(1,468,286		)
Investment in loans receivable and other	—			—			(498,992		)	—		(498,992		)
Proceeds from real estate disposals	118,246			—			—			—		118,246
Proceeds from loans receivable	—			—			73,557			—		73,557
Purchase of marketable securities	—			—			(96,689		)	—		(96,689		)
Proceeds from sale or maturity of marketable securities	—			—			21,689			—		21,689
Funds held in escrow for future development expenditures	—			—			4,590			—		4,590
Development project expenditures	—			—			(106,988		)	—		(106,988		)
Capital expenditures	—			(7,749		)	(79,705		)	—		(87,454		)
Contributions to unconsolidated entities	(5,527		)	—			(71		)	—		(5,598		)
Other	(2,689		)	—			(6,426		)	—		(9,115		)
Net cash used in investing activities	(1,358,256		)	(7,749		)	(689,035		)	—		(2,055,040		)
Cash flows from financing activities:
Net change in borrowings under revolving credit facilities	—			386,000			154,203			—		540,203
Proceeds from debt	—			696,661			1,311,046			—		2,007,707
Repayment of debt	—			—			(1,151,395		)	—		(1,151,395		)
Net change in intercompany debt	1,300,790			(895,961		)	(404,829		)	—		—
Payment of deferred financing costs	—			(6,608		)	(7,612		)	—		(14,220		)
Issuance of common stock, net	242,107			—			—			—		242,107
Cash distribution from (to) affiliates	776,497			(252,611		)	(523,886		)	—		—
Cash distribution to common stockholders	(875,614		)	—			—			—		(875,614		)
Cash distribution to redeemable OP unitholders	(5,762		)	—			—			—		(5,762		)
Purchases of redeemable OP units	(503		)	—			—			—		(503		)
Contributions from noncontrolling interest	—			—			491			—		491
Distributions to noncontrolling interest	—			—			(9,559		)	—		(9,559		)
Other	24,597			5			—			—		24,602
Net cash provided by (used in) financing activities	1,462,112			(72,514		)	(631,541		)	—		758,057
Net increase (decrease) in cash and cash equivalents	8,525			—			(50,663		)	—		(42,138		)
Effect of foreign currency translation on cash and cash equivalents	(11,837		)	—			14,507			—		2,670
Cash and cash equivalents at beginning of period	28,169			—			66,647			—		94,816
Cash and cash equivalents at end of period	$	24,857		$	—		$	30,491		$	—	$	55,348