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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Rental income:        
Triple-net leased $ 212,370 $ 210,424 $ 634,955 $ 635,030
Office 189,506 158,273 561,641 446,496
Total rental income 401,876 368,697 1,196,596 1,081,526
Resident fees and services 461,700 461,974 1,386,131 1,390,387
Office building and other services revenue 3,196 4,317 9,781 17,006
Income from loans and investments 32,985 31,566 85,499 78,098
Interest and other income 171 562 854 792
Total revenues 899,928 867,116 2,678,861 2,567,809
Expenses        
Interest 113,869 105,063 336,245 312,001
Depreciation and amortization 213,407 208,387 655,298 666,735
Property-level operating expenses:        
Senior living 315,598 312,145 936,296 932,675
Office 60,609 48,972 174,728 136,619
Total property-level operating expenses 376,207 361,117 1,111,024 1,069,294
Office building services costs 418 974 1,708 6,277
General, administrative and professional fees 33,317 31,567 100,560 95,387
Loss on extinguishment of debt, net 511 383 856 3,165
Merger-related expenses and deal costs 804 16,217 8,903 25,073
Other 13,030 2,430 16,066 8,901
Total expenses 751,563 726,138 2,230,660 2,186,833
Income before unconsolidated entities, income taxes, discontinued operations, real estate dispositions and noncontrolling interests 148,365 140,978 448,201 380,976
Income (loss) from unconsolidated entities 750 931 3,794 2,151
Income tax benefit 7,815 8,537 13,119 28,507
Income from continuing operations 156,930 150,446 465,114 411,634
Discontinued operations (19) (118) (95) (755)
Gain (loss) on real estate dispositions 458,280 (144) 502,288 31,779
Net income 615,191 150,184 967,307 442,658
Net income attributable to noncontrolling interests 1,233 732 3,391 1,064
Net income attributable to common stockholders $ 613,958 $ 149,452 $ 963,916 $ 441,594
Basic:        
Income from continuing operations (in usd per share) $ 0.44 $ 0.43 $ 1.31 $ 1.20
Net income attributable to common stockholders (in usd per share) 1.72 0.43 2.71 1.29
Diluted:        
Income from continuing operations (in usd per share) 0.44 0.42 1.30 1.19
Net income attributable to common stockholders (in usd per share) $ 1.71 $ 0.42 $ 2.69 $ 1.28
Weighted average shares used in computing earnings per common share:        
Basic (in shares) 355,929 350,274 355,110 341,610
Diluted (in shares) 359,333 354,186 358,365 345,352
Dividends declared per common share (in usd per share) $ 0.775 $ 0.73 $ 2.325 $ 2.19