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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Rental income $ 370,162 $ 348,638 $ 722,905 $ 700,739
Income from loans and investments 6,554 10,752 20,143 20,599
Interest and other income 1,032 1,166 2,775 1,702
Total revenues 1,106,358 1,022,938 2,183,603 2,040,492
Expenses        
Interest 143,265 113,951 271,340 224,745
Depreciation and amortization 304,689 283,075 586,808 572,139
Property-level operating expenses 622,818 574,359 1,230,749 1,117,080
Third party capital management expenses 1,436 1,410 3,142 2,723
General, administrative and professional fees 34,399 32,915 79,197 75,913
(Gain) loss on extinguishment of debt, net (6,801) 7 (6,801) 7
Transaction expenses and deal costs 3,069 13,078 4,455 33,070
Allowance on loans receivable and investments (12,065) (62) (20,129) (116)
Gain on foreclosure of real estate (29,127) 0 (29,127) 0
Other (17,959) 48,116 (10,197) 20,926
Total expenses 1,043,724 1,066,849 2,109,437 2,046,487
Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests 62,634 (43,911) 74,166 (5,995)
Income (loss) from unconsolidated entities 31,254 (1,047) 25,631 (5,316)
Gain (loss) on real estate dispositions 1,405 (34) 11,606 2,421
Income tax benefit 9,773 3,790 12,575 8,280
Income (loss) from continuing operations 105,066 (41,202) 123,978 (610)
Net income (loss) 105,066 (41,202) 123,978 (610)
Net income attributable to noncontrolling interests 1,613 1,214 3,008 3,074
Net income (loss) attributable to common stockholders $ 103,453 $ (42,416) $ 120,970 $ (3,684)
Basic:        
Income from continuing operations (in usd per share) $ 0.26 $ (0.10) $ 0.31 $ 0
Net income attributable to common stockholders (in usd per share) 0.26 (0.11) 0.30 (0.01)
Diluted:        
Income from continuing operations (in usd per share) [1] 0.26 (0.10) 0.31 0
Net income attributable to common stockholders (in usd per share) [1] $ 0.26 $ (0.11) $ 0.30 $ (0.01)
Triple-Net Leased Properties        
Revenues:        
Rental income $ 154,355 $ 149,397 $ 304,094 $ 300,958
Expenses        
Property-level operating expenses 3,537 3,585 7,333 7,593
Outpatient Medical and Research Portfolio        
Revenues:        
Rental income 215,807 199,241 418,811 399,781
Expenses        
Property-level operating expenses 72,171 63,328 139,084 126,511
Resident fees and services        
Revenues:        
Other revenues 724,614 658,056 1,429,607 1,309,177
Third party capital management revenues        
Revenues:        
Other revenues 3,996 4,326 8,173 8,275
Senior housing        
Expenses        
Property-level operating expenses $ 547,110 $ 507,446 $ 1,084,332 $ 982,976
[1] Potential common shares are not included in the computation of diluted earnings per share (“EPS”) when a loss from continuing operations exists as the effect would be an antidilutive per share amount.