SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

(Dollars in thousands)

	For the Years Ended December 31,
	2023		2022		2021
Reconciliation of real estate:
Carrying cost:
Balance at beginning of period	$	28,768,409	$	28,479,870	$	26,850,442
Additions during period:
Acquisitions	1,437,729		460,959		2,413,570
Capital expenditures	645,596		443,710		423,752
Deductions during period:
Foreign currency translation	(776,041)		(350,188)		17,030
Other (1)	90,105		(265,942)		(1,224,924)
Balance at end of period	$	30,165,798	$	28,768,409	$	28,479,870
Accumulated depreciation:
Balance at beginning of period	$	8,231,160	$	7,433,480	$	6,967,413
Additions during period:
Depreciation expense	937,767		907,134		865,627
Dispositions:
Sales and/or transfers to assets held for sale	(190,666)		(72,047)		(401,208)
Foreign currency translation	37,912		(37,407)		1,648
Balance at end of period	$	9,016,173	$	8,231,160	$	7,433,480

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(1)Other may include sales, transfers to assets held for sale and impairments.

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

(Dollars in thousands)

						Initial Cost to Company						Gross Amount Carried at Close of Period
		Description	Count	Encumbrances		Land and Improvements		Buildings and Improvements		Costs Capitalized Subsequent to  Acquisition (1)		Land and Improvements		Buildings and Improvements		Total		Accumulated Depreciation		Net Book Value		Year of Construction	Year Acquired	Life on which Depreciation In Income Statement is  Computed
UNITED STATES PROPERTIES
	Senior Housing
		Atria Senior Living	184	$	870,545	$	548,951	$	4,982,539	$	720,154	$	578,414	$	5,673,231	$	6,251,645	$	1,918,046	$	4,333,598	1835 - 2013	2007 - 2021	13 - 54 years
		Brookdale Senior Living	130	48,040		192,994		2,047,145		151,037		193,627		2,197,549		2,391,176		1,036,727		1,354,449		1915 - 2012	2004 - 2021	24 - 35 years
		Sunrise Senior Living	75	—		184,905		1,976,814		200,637		197,031		2,165,325		2,362,356		1,054,605		1,307,751		1987 - 2009	2007 - 2012	35 - 35 years
		Sinceri Senior Living	34	—		59,273		580,266		67,694		58,964		648,269		707,233		256,006		451,227		1974 - 2005	2006 - 2015	35 -35 years
		Priority Life Care Properties	33	38,716		47,800		455,250		56,710		48,824		510,936		559,760		160,709		399,051		1920 - 2009	2006 - 2021	29 - 51 years
		Sodalis Senior Living	29	—		51,880		435,568		34,730		52,488		469,690		522,178		137,889		384,289		1987 - 2009	2006 - 2021	14 - 47 years
		Discovery Senior Living	23	28,525		35,757		394,045		44,023		36,848		436,977		473,825		147,233		326,592		1984 - 2009	2006 - 2021	24 - 35 years
		Koelsch Senior Communities	19	64,851		27,721		292,414		13,285		28,131		305,289		333,420		74,585		258,835		1972 - 2017	2011 - 2017	35 -35 years
		Senior Lifestyle	16	—		55,911		553,261		9,620		57,031		561,761		618,792		54,740		564,052		1982 - 2012	2011 - 2023	33 - 35 years
		Meridian Senior Living	14	—		19,090		104,237		(1,158)		19,090		103,079		122,169		25,070		97,099		1972 - 2012	2011 - 2023	35 -35 years
		Azura Memory Care	13	—		6,361		53,002		7,195		7,200		59,358		66,558		22,788		43,770		1990 - 2019	2011 - 2019	35 -35 years
		Matthews Senior Living	12	—		11,200		21,161		(17,358)		6,732		8,271		15,003		8,491		6,512		1985 - 2007	2011 - 2011	35 -35 years
		Milestone Retirement Communities	11	—		16,810		183,225		11,615		16,810		194,840		211,650		53,037		158,613		1965 - 2011	2011 - 2014	35 -35 years
		American House	11	—		5,438		124,369		18,494		6,842		141,459		148,301		59,778		88,523		1998 - 2000	2006 - 2014	35 -35 years
		Avamere Family of Companies	11	—		20,407		113,192		12,774		20,653		125,720		146,373		45,936		100,437		1998 - 2012	2011 - 2015	35 -35 years
		Hawthorn Senior Living	10	56,314		35,668		220,099		16,474		35,862		236,379		272,241		23,244		248,997		1998 - 2008	2021 - 2021	27 - 50 years
		Sonida Senior Living	10	—		14,080		118,512		30,750		14,505		148,837		163,342		66,418		96,924		1977 - 1998	2005 - 2012	35 -35 years
		Ridgeline Management Company	10	—		11,405		94,242		6,478		11,405		100,720		112,125		32,968		79,157		1972 - 2007	2011 - 2021	11 - 35 years
		Other Senior Housing Operators	64	110,220		91,739		778,568		35,133		89,651		815,789		905,440		268,815		636,625		1987 - 2020	2004 - 2023	12 - 39 years
		Other Senior Housing		—		—		336		—		—		336		336		—		336
	Total Senior Housing		709	1,217,211		1,437,390		13,528,245		1,418,287		1,480,108		14,903,815		16,383,923		5,447,085		10,936,837
	Outpatient Medical Buildings
		Lillibridge	219	36,718		169,535		2,142,552		592,090		170,792		2,733,385		2,904,177		1,112,022		1,792,155		1960 - 2016	2004 - 2023	4 - 39 years
		PMB RES	40	206,039		81,666		992,528		137,622		83,314		1,128,502		1,211,816		399,496		812,320		1972 - 2019	2011 - 2023	19 - 35 years
		Cornerstone Companies, Inc.	26	—		28,336		156,018		—		28,336		156,018		184,354		4,390		179,964		1975 - 2012	2023 - 2023	35 -35 years
		Ardent Health Services	19	—		5,638		214,808		600		5,638		215,408		221,046		14,139		206,907		1974 - 2011	2018 - 2022	35 -35 years
		Memorial Health System	12	—		2,346		25,031		13,166		2,451		38,092		40,543		23,025		17,518		1976 - 2002	2010 - 2010	35 -35 years
		Other Medical Buildings Operators	89	—		136,691		1,012,745		49,447		133,519		1,065,364		1,198,883		320,343		878,540		1954 - 2019	2004 - 2023	25 - 35 years
		Other Medical Buildings		10,348		3,644		36,062		—		3,644		36,062		39,706		2,366		37,340
	Total Outpatient Medical Buildings		405	253,105		427,856		4,579,744		792,925		427,694		5,372,831		5,800,525		1,875,781		3,924,744

						Initial Cost to Company						Gross Amount Carried at Close of Period
		Description	Count	Encumbrances		Land and Improvements		Buildings and Improvements		Costs Capitalized Subsequent to  Acquisition (1)		Land and Improvements		Buildings and Improvements		Total		Accumulated Depreciation		Net Book Value		Year of Construction	Year Acquired	Life on which Depreciation In Income Statement is  Computed
	Research
		Wexford	27	227,600		71,764		1,429,367		69,967		70,447		1,500,651		1,571,098		329,464		1,241,634		1923 - 2019	2016 - 2022	15 - 60 years
		Other Research Operators	2	—		1,194		76,515		107		1,194		76,622		77,816		9,758		68,058		2010 - 2016	2020 - 2020	35 -35 years
		Other Research		—		65,513		111,384		—		65,513		111,384		176,897		6,555		170,342
	Total Research		29	227,600		138,471		1,617,266		70,074		137,154		1,688,657		1,825,811		345,777		1,480,034
	IRFs & LTACs
		Kindred Healthcare	29	—		33,385		222,156		(1,000)		32,385		222,156		254,541		208,817		45,724		1937 - 1995	1976 - 2020	20 - 40 years
		Other IRFs & LTACs	14	—		18,641		198,449		1,068		18,641		199,517		218,158		50,504		167,654		1989 - 2013	2011 - 2023	35 - 36 years
	Total IRFs & LTACs		43	—		52,026		420,605		68		51,026		421,673		472,699		259,321		213,378
	Other Healthcare Facilities
		Ardent Health Services	10	—		98,428		1,126,010		78,104		97,416		1,205,126		1,302,542		288,219		1,014,323		1928 - 2020	2015 - 2020	20 - 47 years
	Skilled Nursing
		Genesis Healthcare	12	—		11,350		164,745		(5,708)		11,350		159,037		170,387		77,602		92,785		1897 - 1995	2004 - 2011	30 - 35 years
		Wellington	10	—		14,744		93,096		—		14,744		93,096		107,840		2,709		105,131		1969 - 1998	2023 - 2023	35 -35 years
		Other Skilled Nursing Operators	22	—		31,502		192,512		1,405		31,682		193,737		225,419		19,126		206,293		1920 - 2000	1991 - 2023	29 - 40 years
	Total Skilled Nursing		44	—		57,596		450,353		(4,303)		57,776		445,870		503,646		99,437		404,209
CANADIAN PROPERTIES
	Senior Housing
		Le Groupe Maurice	36	1,185,492		162,989		1,967,564		8,027		162,795		1,975,785		2,138,580		202,246		1,936,334		2000 - 2023	2019 - 2023	40 - 60 years
		Atria Senior Living	29	294,515		75,553		845,363		(47,026)		68,536		805,354		873,890		269,485		604,405		1988 - 2008	2014 - 2014	35 -35 years
		Sunrise Senior Living	12	—		46,600		418,821		(62,383)		39,383		363,655		403,038		175,692		227,346		2000 - 2007	2007 - 2007	35 -35 years
		Other Senior Housing Operators	6	—		25,172		146,694		(5,960)		24,011		141,895		165,906		10,768		155,138		2006 - 2012	2021 - 2021	35 -35 years
		Other Senior Housing		28,228		3,784		60,605		—		3,784		60,605		64,389		—		64,389
	Total Senior Housing		83	1,508,235		314,098		3,439,047		(107,342)		298,509		3,347,294		3,645,803		658,191		2,987,612
UNITED KINGDOM PROPERTIES
	Senior Housing
		Canford Healthcare Limited	12	—		42,445		84,181		(17,168)		36,864		72,594		109,458		19,818		89,640		1980 - 2014	2015 - 2017	40 - 40 years
	International Hospital
		Spire Healthcare	3	—		11,903		136,628		(27,140)		9,727		111,664		121,391		22,544		98,847		1980 - 2010	2014 - 2014	50 - 50 years
TOTAL			1,338	$	3,206,151	$	2,580,213	$	25,382,079	$	2,203,505	$	2,596,274	$	27,569,524	$	30,165,798	$	9,016,173	$	21,149,625

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(1)     Adjustments to basis included provisions for asset impairments, partial dispositions, costs capitalized subsequent to acquisitions and foreign currency translation adjustments.