CONDENSED CONSOLIDATING INFORMATION (Unaudited) (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

The following pages summarize our condensed consolidating information as of September 30, 2018 and December 31, 2017 and for the three and nine months ended September 30, 2018 and 2017.

CONDENSED CONSOLIDATING BALANCE SHEET

	As of September 30, 2018
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Assets
Net real estate investments	$	3,634		$	112,869		$	20,480,460		$	—		$	20,596,963
Cash and cash equivalents	8,291			—			77,816			—			86,107
Escrow deposits and restricted cash	5,198			128			57,114			—			62,440
Investment in and advances to affiliates	15,421,147			2,726,198			—			(18,147,345		)	—
Goodwill	—			—			1,045,877			—			1,045,877
Assets held for sale	—			—			24,180			—			24,180
Other assets	57,960			6,669			717,757			—			782,386
Total assets	$	15,496,230		$	2,845,864		$	22,403,204		$	(18,147,345	)	$	22,597,953
Liabilities and equity
Liabilities:
Senior notes payable and other debt	$	—		$	8,330,288		$	2,148,167		$	—		$	10,478,455
Intercompany loans	8,066,423			(5,390,219		)	(2,676,204		)	—			—
Accrued interest	(8,976		)	66,613			19,246			—			76,883
Accounts payable and other liabilities	355,472			24,843			754,583			—			1,134,898
Liabilities related to assets held for sale	—			—			14,790			—			14,790
Deferred income taxes	586			—			236,030			—			236,616
Total liabilities	8,413,505			3,031,525			496,612			—			11,941,642
Redeemable OP Unitholder and noncontrolling interests	12,399			—			130,843			—			143,242
Total equity	7,070,326			(185,661		)	21,775,749			(18,147,345		)	10,513,069
Total liabilities and equity	$	15,496,230		$	2,845,864		$	22,403,204		$	(18,147,345	)	$	22,597,953

CONDENSED CONSOLIDATING BALANCE SHEET

	As of December 31, 2017
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Assets
Net real estate investments	$	1,844		$	119,508		$	21,971,100		$	—		$	22,092,452
Cash and cash equivalents	7,129			—			74,226			—			81,355
Escrow deposits and restricted cash	39,816			128			66,954			—			106,898
Investment in and advances to affiliates	14,790,537			2,916,060			—			(17,706,597		)	—
Goodwill	—			—			1,034,644			—			1,034,644
Assets held for sale	—			—			65,413			—			65,413
Other assets	55,934			9,458			508,387			—			573,779
Total assets	$	14,895,260		$	3,045,154		$	23,720,724		$	(17,706,597	)	$	23,954,541
Liabilities and equity
Liabilities:
Senior notes payable and other debt	$	—		$	8,895,641		$	2,380,421		$	—		$	11,276,062
Intercompany loans	7,838,898			(7,127,547		)	(711,351		)	—			—
Accrued interest	(6,410		)	77,691			22,677			—			93,958
Accounts payable and other liabilities	377,536			24,635			781,318			—			1,183,489
Liabilities related to assets held for sale	—			—			60,265			—			60,265
Deferred income taxes	608			—			249,484			—			250,092
Total liabilities	8,210,632			1,870,420			2,782,814			—			12,863,866
Redeemable OP Unitholder and noncontrolling interests	12,237			—			146,253			—			158,490
Total equity	6,672,391			1,174,734			20,791,657			(17,706,597		)	10,932,185
Total liabilities and equity	$	14,895,260		$	3,045,154		$	23,720,724		$	(17,706,597	)	$	23,954,541

Condensed Consolidating Statement of Income

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	For the Three Months Ended September 30, 2018
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues
Rental income	$	275		$	35,189		$	348,564		$	—		$	384,028
Resident fees and services	—			—			518,560			—			518,560
Office building and other services revenue	—			—			3,288			—			3,288
Income from loans and investments	387			—			17,721			—			18,108
Equity earnings in affiliates	74,048			—			(874		)	(73,174		)	—
Interest and other income	12,335			8			211			—			12,554
Total revenues	87,045			35,197			887,470			(73,174		)	936,538
Expenses
Interest	(19,307		)	80,255			46,633			—			107,581
Depreciation and amortization	1,365			1,411			215,803			—			218,579
Property-level operating expenses	—			77			428,312			—			428,389
Office building services costs	—			—			431			—			431
General, administrative and professional fees	2,744			4,477			32,456			—			39,677
Loss on extinguishment of debt, net	202			36,219			3,106			—			39,527
Merger-related expenses and deal costs	2,980			—			1,478			—			4,458
Other	28			25			1,191			—			1,244
Total expenses	(11,988		)	122,464			729,410			—			839,886
Income (loss) before unconsolidated entities, income taxes, discontinued operations, real estate dispositions and noncontrolling interests	99,033			(87,267		)	158,060			(73,174		)	96,652
Loss from unconsolidated entities	—			—			(716		)	—			(716		)
Income tax benefit	2,944			—			4,383			—			7,327
Income (loss) from continuing operations	101,977			(87,267		)	161,727			(73,174		)	103,263
(Loss) gain on real estate dispositions	(5		)	—			23			—			18
Net income (loss)	101,972			(87,267		)	161,750			(73,174		)	103,281
Net income attributable to noncontrolling interests	—			—			1,309			—			1,309
Net income (loss) attributable to common stockholders	$	101,972		$	(87,267	)	$	160,441		$	(73,174	)	$	101,972

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	For the Three Months Ended September 30, 2017
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries		Consolidated Elimination			Consolidated
	(In thousands)
Revenues
Rental income	$	601		$	45,447		$	355,828	$	—		$	401,876
Resident fees and services	—			—			461,700		—			461,700
Office building and other services revenue	—			—			3,196		—			3,196
Income from loans and investments	309			—			32,676		—			32,985
Equity earnings in affiliates	594,857			—			4,151		(599,008		)	—
Interest and other income	3			—			168		—			171
Total revenues	595,770			45,447			857,719		(599,008		)	899,928
Expenses
Interest	(16,836		)	82,007			48,698		—			113,869
Depreciation and amortization	1,314			1,455			210,638		—			213,407
Property-level operating expenses	—			69			376,138		—			376,207
Office building services costs	—			—			418		—			418
General, administrative and professional fees	100			4,240			28,977		—			33,317
Loss on extinguishment of debt, net	—			504			7		—			511
Merger-related expenses and deal costs	360			—			444		—			804
Other	1,626			—			11,404		—			13,030
Total expenses	(13,436		)	88,275			676,724		—			751,563
Income (loss) before unconsolidated entities, income taxes, discontinued operations, real estate dispositions and noncontrolling interests	609,206			(42,828		)	180,995		(599,008		)	148,365
Income from unconsolidated entities	—			—			750		—			750
Income tax benefit	4,771			—			3,044		—			7,815
Income (loss) from continuing operations	613,977			(42,828		)	184,789		(599,008		)	156,930
Discontinued operations	(19		)	—			—		—			(19		)
Gain on real estate dispositions	—			457,952			328		—			458,280
Net income	613,958			415,124			185,117		(599,008		)	615,191
Net income attributable to noncontrolling interests	—			—			1,233		—			1,233
Net income attributable to common stockholders	$	613,958		$	415,124		$	183,884	$	(599,008	)	$	613,958

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	For the Nine Months Ended September 30, 2018
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues
Rental income	$	1,132		$	103,874		$	1,024,093		$	—		$	1,129,099
Resident fees and services	—			—			1,552,302			—			1,552,302
Office building and other services revenue	—			—			10,905			—			10,905
Income from loans and investments	1,150			—			104,556			—			105,706
Equity earnings in affiliates	278,103			—			(2,078		)	(276,025		)	—
Interest and other income	23,726			8			801			—			24,535
Total revenues	304,111			103,882			2,690,579			(276,025		)	2,822,547
Expenses
Interest	(76,297		)	245,210			163,060			—			331,973
Depreciation and amortization	4,081			4,277			667,005			—			675,363
Property-level operating expenses	—			231			1,262,484			—			1,262,715
Office building services costs	—			—			1,080			—			1,080
General, administrative and professional fees	2,892			13,142			97,473			—			113,507
Loss on extinguishment of debt, net	356			48,815			1,240			—			50,411
Merger-related expenses and deal costs	23,390			—			2,898			—			26,288
Other	4,524			25			3,342			—			7,891
Total expenses	(41,054		)	311,700			2,198,582			—			2,469,228
Income (loss) before unconsolidated entities, income taxes, discontinued operations, real estate dispositions and noncontrolling interests	345,165			(207,818		)	491,997			(276,025		)	353,319
Loss from unconsolidated entities	—			—			(47,826		)	—			(47,826		)
Income tax benefit	2,606			—			8,697			—			11,303
Income (loss) from continuing operations	347,771			(207,818		)	452,868			(276,025		)	316,796
Discontinued operations	(10		)	—			—			—			(10		)
(Loss) gain on real estate dispositions	(567		)	—			36,460			—			35,893
Net income (loss)	347,194			(207,818		)	489,328			(276,025		)	352,679
Net income attributable to noncontrolling interests	—			—			5,485			—			5,485
Net income (loss) attributable to common stockholders	$	347,194		$	(207,818	)	$	483,843		$	(276,025	)	$	347,194

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	For the Nine Months Ended September 30, 2017
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Revenues
Rental income	$	1,782		$	141,717		$	1,053,097		$	—		$	1,196,596
Resident fees and services	—			—			1,386,131			—			1,386,131
Office building and other services revenue	—			—			9,781			—			9,781
Income from loans and investments	908			—			84,591			—			85,499
Equity earnings in affiliates	909,605			—			3,553			(913,158		)	—
Interest and other income	374			—			480			—			854
Total revenues	912,669			141,717			2,537,633			(913,158		)	2,678,861
Expenses
Interest	(61,204		)	238,312			159,137			—			336,245
Depreciation and amortization	4,140			6,062			645,096			—			655,298
Property-level operating expenses	—			235			1,110,789			—			1,111,024
Office building services costs	—			—			1,708			—			1,708
General, administrative and professional fees	412			13,570			86,578			—			100,560
Loss (gain) on extinguishment of debt, net	—			942			(86		)	—			856
Merger-related expenses and deal costs	8,007			—			896			—			8,903
Other	1,743			—			14,323			—			16,066
Total expenses	(46,902		)	259,121			2,018,441			—			2,230,660
Income (loss) before unconsolidated entities, income taxes, discontinued operations, real estate dispositions and noncontrolling interests	959,571			(117,404		)	519,192			(913,158		)	448,201
Income from unconsolidated entities	—			—			3,794			—			3,794
Income tax benefit	4,440			—			8,679			—			13,119
Income (loss) from continuing operations	964,011			(117,404		)	531,665			(913,158		)	465,114
Discontinued operations	(95		)	—			—			—			(95		)
Gain on real estate dispositions	—			472,732			29,556			—			502,288
Net income	963,916			355,328			561,221			(913,158		)	967,307
Net income attributable to noncontrolling interests	—			—			3,391			—			3,391
Net income attributable to common stockholders	$	963,916		$	355,328		$	557,830		$	(913,158	)	$	963,916

Condensed Consolidating Statement of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

	For the Three Months Ended September 30, 2018
	Ventas, Inc.		Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income (loss)	$	101,972	$	(87,267	)	$	161,750		$	(73,174	)	$	103,281
Other comprehensive income:
Foreign currency translation	—		—			(5,018		)	—			(5,018		)
Unrealized gain on marketable debt securities	—		—			5,131			—			5,131
Other	—		—			2,801			—			2,801
Total other comprehensive income	—		—			2,914			—			2,914
Comprehensive income (loss)	101,972		(87,267		)	164,664			(73,174		)	106,195
Comprehensive income attributable to noncontrolling interests	—		—			1,309			—			1,309
Comprehensive income (loss) attributable to common stockholders	$	101,972	$	(87,267	)	$	163,355		$	(73,174	)	$	104,886

	For the Three Months Ended September 30, 2017
	Ventas, Inc.		Ventas Realty		Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income	$	613,958	$	415,124	$	185,117		$	(599,008	)	$	615,191
Other comprehensive income:
Foreign currency translation	—		—		5,239			—			5,239
Unrealized loss on marketable debt securities	—		—		(48		)	—			(48		)
Other	—		—		(936		)	—			(936		)
Total other comprehensive income	—		—		4,255			—			4,255
Comprehensive income	613,958		415,124		189,372			(599,008		)	619,446
Comprehensive income attributable to noncontrolling interests	—		—		1,233			—			1,233
Comprehensive income attributable to common stockholders	$	613,958	$	415,124	$	188,139		$	(599,008	)	$	618,213

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

	For the Nine Months Ended September 30, 2018
	Ventas, Inc.		Ventas Realty			Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income (loss)	$	347,194	$	(207,818	)	$	489,328		$	(276,025	)	$	352,679
Other comprehensive income:
Foreign currency translation	—		—			(8,061		)	—			(8,061		)
Unrealized gain on marketable debt securities	—		—			17,816			—			17,816
Other	—		—			17,418			—			17,418
Total other comprehensive income	—		—			27,173			—			27,173
Comprehensive income (loss)	347,194		(207,818		)	516,501			(276,025		)	379,852
Comprehensive income attributable to noncontrolling interests	—		—			5,485			—			5,485
Comprehensive income (loss) attributable to common stockholders	$	347,194	$	(207,818	)	$	511,016		$	(276,025	)	$	374,367

	For the Nine Months Ended September 30, 2017
	Ventas, Inc.		Ventas Realty		Ventas Subsidiaries			Consolidated Elimination			Consolidated
	(In thousands)
Net income	$	963,916	$	355,328	$	561,221		$	(913,158	)	$	967,307
Other comprehensive income:
Foreign currency translation	—		—		17,607			—			17,607
Unrealized loss on marketable debt securities	—		—		(233		)	—			(233		)
Other	—		—		(620		)	—			(620		)
Total other comprehensive income	—		—		16,754			—			16,754
Comprehensive income	963,916		355,328		577,975			(913,158		)	984,061
Comprehensive income attributable to noncontrolling interests	—		—		3,391			—			3,391
Comprehensive income attributable to common stockholders	$	963,916	$	355,328	$	574,584		$	(913,158	)	$	980,670

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	For the Nine Months Ended September 30, 2018
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination		Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	30,077		$	(163,311	)	$	1,150,856		$	—	$	1,017,622
Cash flows from investing activities:
Net investment in real estate property	(35,800		)	—			—			—		(35,800		)
Investment in loans receivable	(3,036		)	—			(209,053		)	—		(212,089		)
Proceeds from real estate disposals	331,243			—			—			—		331,243
Proceeds from loans receivable	1,473			—			864,840			—		866,313
Development project expenditures	—			—			(230,348		)	—		(230,348		)
Capital expenditures	—			—			(73,025		)	—		(73,025		)
Distributions from unconsolidated entities	—			—			57,430			—		57,430
Investment in unconsolidated entities	—			—			(45,106		)	—		(45,106		)
Insurance proceeds for property damage claims	—			—			6,327			—		6,327
Net cash provided by investing activities	293,880			—			371,065			—		664,945
Cash flows from financing activities:
Net change in borrowings under revolving credit facilities	—			49,438			(8,146		)	—		41,292
Proceeds from debt	—			2,309,141			103,279			—		2,412,420
Repayment of debt	—			(2,949,456		)	(344,648		)	—		(3,294,104		)
Purchase of noncontrolling interests	(2,429		)	—			—			—		(2,429		)
Net change in intercompany debt	976,533			769,781			(1,746,314		)	—		—
Payment of deferred financing costs	—			(15,593		)	(990		)	—		(16,583		)
Cash distribution (to) from affiliates	(473,343		)	—			473,343			—		—
Cash distribution to common stockholders	(845,248		)	—			—			—		(845,248		)
Cash distribution to redeemable OP Unitholders	—			—			(5,594		)	—		(5,594		)
Cash issued for redemption of OP and Class C Units	—			—			(1,370		)	—		(1,370		)
Contributions from noncontrolling interests	—			—			500			—		500
Distributions to noncontrolling interests	—			—			(9,968		)	—		(9,968		)
Other	(736		)	—			—			—		(736		)
Net cash (used in) provided by financing activities	(345,223		)	163,311			(1,539,908		)	—		(1,721,820		)
Net decrease in cash, cash equivalents and restricted cash	(21,266		)	—			(17,987		)	—		(39,253		)
Effect of foreign currency translation	(12,190		)	—			11,737			—		(453		)
Cash, cash equivalents and restricted cash at beginning of period	46,945			128			141,180			—		188,253
Cash, cash equivalents and restricted cash at end of period	$	13,489		$	128		$	134,930		$	—	$	148,547

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	For the Nine Months Ended September 30, 2017
	Ventas, Inc.			Ventas Realty			Ventas Subsidiaries			Consolidated Elimination		Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	60,382		$	(87,781	)	$	1,109,624		$	—	$	1,082,225
Cash flows from investing activities:
Net investment in real estate property	(317,785		)	—			(28,706		)	—		(346,491		)
Investment in loans receivable	(2,727		)	—			(731,306		)	—		(734,033		)
Proceeds from real estate disposals	616,637			—			(1,884		)	—		614,753
Proceeds from loans receivable	36			—			84,325			—		84,361
Development project expenditures	—			—			(210,423		)	—		(210,423		)
Capital expenditures	—			(604		)	(82,783		)	—		(83,387		)
Distributions from unconsolidated entities	—			—			5,816			—		5,816
Investment in unconsolidated entities	—			—			(42,399		)	—		(42,399		)
Insurance proceeds for property damage claims	—			—			1,393			—		1,393
Net cash provided by (used in) investing activities	296,161			(604		)	(1,005,967		)	—		(710,410		)
Cash flows from financing activities:
Net change in borrowings under revolving credit facility	—			467,000			(82,262		)	—		384,738
Proceeds from debt	—			793,904			264,533			—		1,058,437
Repayment of debt	—			(778,606		)	(446,919		)	—		(1,225,525		)
Purchase of noncontrolling interests	(15,809		)	—			—			—		(15,809		)
Net change in intercompany debt	743,966			(748,587		)	4,621			—		—
Payment of deferred financing costs	—			(20,450		)	(5,976		)	—		(26,426		)
Issuance of common stock, net	73,596			—			—			—		73,596
Cash distribution (to) from affiliates	(562,534		)	373,748			188,786			—		—
Cash distribution to common stockholders	(827,285		)	—			—			—		(827,285		)
Cash distribution to redeemable OP Unitholders	—			—			(5,677		)	—		(5,677		)
Contributions from noncontrolling interest	—			—			4,402			—		4,402
Distributions to noncontrolling interests	—			—			(9,248		)	—		(9,248		)
Other	10,543			—			—			—		10,543
Net cash (used in) provided by financing activities	(577,523		)	87,009			(87,740		)	—		(578,254		)
Net (decrease) increase in cash, cash equivalents and restricted cash	(220,980		)	(1,376		)	15,917			—		(206,439		)
Effect of foreign currency translation	25,481			—			(24,811		)	—		670
Cash, cash equivalents and restricted cash at beginning of period	207,789			1,504			158,061			—		367,354
Cash, cash equivalents and restricted cash at end of period	$	12,290		$	128		$	149,167		$	—	$	161,585