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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Rental income $ 386,138 $ 350,982 $ 1,109,043 $ 1,051,721
Income from loans and investments 1,208 12,672 21,351 33,271
Interest and other income 2,754 489 5,529 2,191
Total revenues 1,149,832 1,037,276 3,333,435 3,077,768
Expenses        
Interest 147,919 119,413 419,259 344,158
Depreciation and amortization 370,377 301,481 957,185 873,620
Property-level operating expenses 656,477 569,826 1,887,226 1,686,906
Third party capital management expenses 1,472 1,750 4,614 4,473
General, administrative and professional fees 33,297 35,421 112,494 111,334
Loss (gain) on extinguishment of debt, net 612 574 (6,189) 581
Transaction expenses and deal costs 7,125 4,782 11,580 37,852
Allowance on loans receivable and investments (66) (63) (20,195) (179)
Gain on foreclosure of real estate 0 0 (29,127) 0
Other 9,432 9,162 (765) 30,088
Total expenses 1,226,645 1,042,346 3,336,082 3,088,833
Loss before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests (76,813) (5,070) (2,647) (11,065)
(Loss) income from unconsolidated entities (5,119) 1,970 20,512 (3,346)
Gain on real estate dispositions 10,711 136 22,317 2,557
Income tax benefit 1,662 6,027 14,237 14,307
(Loss) income from continuing operations (69,559) 3,063 54,419 2,453
Net (loss) income (69,559) 3,063 54,419 2,453
Net income attributable to noncontrolling interests 1,565 1,807 4,573 4,881
Net (loss) income attributable to common stockholders $ (71,124) $ 1,256 $ 49,846 $ (2,428)
Basic:        
Income from continuing operations (in usd per share) $ (0.17) $ 0.01 $ 0.14 $ 0.01
Net income attributable to common stockholders (in usd per share) (0.18) 0.00 0.12 (0.01)
Diluted:        
Income from continuing operations (in usd per share) [1] (0.17) 0.01 0.13 0.01
Net income attributable to common stockholders (in usd per share) [1] $ (0.18) $ 0.00 $ 0.12 $ (0.01)
Non-Segment        
Revenues:        
Rental income $ 0 $ 0 $ 0 $ 0
Income from loans and investments 1,208 12,672 21,351 33,271
Interest and other income 2,754 489 5,529 2,191
Total revenues 8,615 17,164 38,519 46,453
Expenses        
Property-level operating expenses 0 0 0 0
Third party capital management expenses 1,472 1,750 4,614 4,473
Triple-Net Leased Properties        
Revenues:        
Rental income 159,812 150,115 463,906 451,073
Expenses        
Property-level operating expenses 3,847 3,756 11,180 11,349
Outpatient Medical and Research Portfolio        
Revenues:        
Rental income 226,326 200,867 645,137 600,648
Expenses        
Property-level operating expenses 78,915 66,098 217,999 192,609
Resident fees and services        
Revenues:        
Other revenues 754,417 668,583 2,184,024 1,977,760
Resident fees and services | Non-Segment        
Revenues:        
Other revenues 0 0 0 0
Third party capital management revenues        
Revenues:        
Other revenues 5,315 4,550 13,488 12,825
Third party capital management revenues | Non-Segment        
Revenues:        
Other revenues 4,653 4,003 11,639 10,991
Senior housing        
Expenses        
Property-level operating expenses $ 573,715 $ 499,972 $ 1,658,047 $ 1,482,948
[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.