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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2020

Summary information by reportable business segment


	For the Three Months Ended September 30, 2020
	Triple-Net Leased Properties		Senior Living Operations		Office Operations		All Other		Total
	(In thousands)
Revenues:
Rental income	$	156,136	$	—	$	198,376	$	—	$	354,512
Resident fees and services	—		541,322		—		—		541,322
Office building and other services revenue	—		—		2,440		1,428		3,868
Income from loans and investments	—		—		—		18,666		18,666
Interest and other income	—		—		—		572		572
Total revenues	$	156,136	$	541,322	$	200,816	$	20,666	$	918,940

Total revenues	$	156,136	$	541,322	$	200,816	$	20,666	$	918,940
Less:
Interest and other income	—		—		—		572		572
Property-level operating expenses	5,398		422,653		66,934		—		494,985
Office building services costs	—		—		557		—		557
Segment NOI	$	150,738	$	118,669	$	133,325	$	20,094	422,826
Interest and other income									572
Interest expense									(115,505)
Depreciation and amortization									(249,366)
General, administrative and professional fees									(34,228)
Loss on extinguishment of debt, net									(7,386)
Merger-related expenses and deal costs									(11,325)
Allowance on loans receivable and investments									(4,999)
Other									(3,534)
Income from unconsolidated entities									865
Gain on real estate dispositions									12,622
Income tax benefit									3,195
Income from continuing operations									13,737
Net income									13,737
Net income attributable to noncontrolling interests									986
Net income attributable to common stockholders									$	12,751


	For the Three Months Ended September 30, 2019
	Triple-Net Leased Properties		Senior Living Operations		Office Operations		All Other		Total
	(In thousands)
Revenues:
Rental income	$	193,383	$	—	$	214,939	$	—	$	408,322
Resident fees and services	—		541,090		—		—		541,090
Office building and other services revenue	—		—		2,059		900		2,959
Income from loans and investments	—		—		—		30,164		30,164
Interest and other income	—		—		—		620		620
Total revenues	$	193,383	$	541,090	$	216,998	$	31,684	$	983,155

Total revenues	$	193,383	$	541,090	$	216,998	$	31,684	$	983,155
Less:
Interest and other income	—		—		—		620		620
Property-level operating expenses	6,338		388,011		67,144		—		461,493
Office building services costs	—		—		627		—		627
Segment NOI	$	187,045	$	153,079	$	149,227	$	31,064	520,415
Interest and other income									620
Interest expense									(113,967)
Depreciation and amortization									(234,603)
General, administrative and professional fees									(40,530)
Loss on extinguishment of debt, net									(37,434)
Merger-related expenses and deal costs									(4,304)
Other									(2,164)
Income from unconsolidated entities									854
Gain on real estate dispositions									36
Income tax expense									(2,005)
Income from continuing operations									86,918
Net income									86,918
Net income attributable to noncontrolling interests									1,659
Net income attributable to common stockholders									$	85,259


	For the Nine Months Ended September 30, 2020
	Triple-Net Leased Properties		Senior Living Operations		Office Operations		All Other		Total
	(In thousands)
Revenues:
Rental income	$	527,238	$	—	$	599,696	$	—	$	1,126,934
Resident fees and services	—		1,667,421		—		—		1,667,421
Office building and other services revenue	—		—		6,871		3,798		10,669
Income from loans and investments	—		—		—		62,203		62,203
Interest and other income	—		—		—		6,965		6,965
Total revenues	$	527,238	$	1,667,421	$	606,567	$	72,966	$	2,874,192

Total revenues	$	527,238	$	1,667,421	$	606,567	$	72,966	$	2,874,192
Less:
Interest and other income	—		—		—		6,965		6,965
Property-level operating expenses	17,004		1,265,362		192,192		—		1,474,558
Office building services costs	—		—		1,827		—		1,827
Segment NOI	$	510,234	$	402,059	$	412,548	$	66,001	1,390,842
Interest and other income									6,965
Interest expense									(355,333)
Depreciation and amortization									(847,797)
General, administrative and professional fees									(106,747)
Loss on extinguishment of debt, net									(7,386)
Merger-related expenses and deal costs									(26,129)
Allowance on loans receivable and investments									(34,654)
Other									(10,624)
Loss from unconsolidated entities									(15,861)
Gain on real estate dispositions									240,101
Income tax benefit									95,855
Income from continuing operations									329,232
Net income									329,232
Net income attributable to noncontrolling interests									534
Net income attributable to common stockholders									$	328,698


	For the Nine Months Ended September 30, 2019
	Triple-Net Leased Properties		Senior Living Operations		Office Operations		All Other		Total
	(In thousands)
Revenues:
Rental income	$	589,833	$	—	$	618,555	$	—	$	1,208,388
Resident fees and services	—		1,583,262		—		—		1,583,262
Office building and other services revenue	—		—		5,685		2,483		8,168
Income from loans and investments	—		—		—		66,819		66,819
Interest and other income	—		—		—		10,109		10,109
Total revenues	$	589,833	$	1,583,262	$	624,240	$	79,411	$	2,876,746

Total revenues	$	589,833	$	1,583,262	$	624,240	$	79,411	$	2,876,746
Less:
Interest and other income	—		—		—		10,109		10,109
Property-level operating expenses	20,092		1,115,834		191,972		—		1,327,898
Office building services costs	—		—		1,775		—		1,775
Segment NOI	$	569,741	$	467,428	$	430,493	$	69,302	1,536,964
Interest and other income									10,109
Interest expense									(334,955)
Depreciation and amortization									(696,710)
General, administrative and professional fees									(124,369)
Loss on extinguishment of debt, net									(41,861)
Merger-related expenses and deal costs									(11,084)
Other									9,294
Loss from unconsolidated entities									(2,621)
Gain on real estate dispositions									24,633
Income tax benefit									57,004
Income from continuing operations									426,404
Net income									426,404
Net income attributable to noncontrolling interests									4,831
Net income attributable to common stockholders									$	421,573

Capital expenditures, including investments in real estate property and development project expenditures, by reportable business segment

Capital expenditures, including investments in real estate property and development project expenditures, by reportable business segment are as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Capital expenditures:
Triple-net leased properties	$	11,832	$	13,558	$	33,000	$	27,805
Senior living operations	46,349		780,837		129,165		845,290
Office operations	112,432		94,396		319,834		396,342
Total capital expenditures	$	170,613	$	888,791	$	481,999	$	1,269,437

Revenues from external customers by geographic area

Our portfolio of properties and mortgage loan and other investments are located in the United States, Canada and the United Kingdom. Revenues are attributed to an individual country based on the location of each property. Geographic information regarding our operations is as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Revenues:
United States	$	817,949	$	904,031	$	2,569,467	$	2,688,329
Canada	96,896		72,495		287,056		167,881
United Kingdom	4,095		6,629		17,669		20,536
Total revenues	$	918,940	$	983,155	$	2,874,192	$	2,876,746

Net real estate property by geographic area


	As of September 30, 2020		As of December 31, 2019
	(In thousands)
Net real estate property:
United States	$	17,874,378	$	18,636,839
Canada	2,853,245		2,830,850
United Kingdom	250,789		266,885
Total net real estate property	$	20,978,412	$	21,734,573