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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Rental income:      
Total rental income $ 1,486,401 $ 1,399,313 $ 1,448,120
Income from loans and investments 22,952 48,160 74,981
Interest and other income 11,414 3,635 14,809
Total revenues 4,497,827 4,129,193 3,828,007
Expenses      
Interest 574,112 467,557 440,089
Depreciation and amortization 1,392,461 1,197,798 1,197,403
Property-level operating expenses:      
Property-level operating expenses 2,555,145 2,276,724 2,084,064
Third party capital management expenses 6,101 6,194 4,433
General, administrative and professional fees 148,876 144,874 129,758
(Gain) loss on extinguishment of debt, net (6,104) 581 59,299
Transaction, transition and restructuring costs 15,215 30,884 47,318
Provision for Loan, Lease, and Other Losses (20,270) 19,757 (9,082)
Other (income) expense (23,001) 58,268 37,110
Total expenses 4,613,408 4,223,330 3,990,392
Loss before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests (115,581) (94,137) (162,385)
Income from unconsolidated entities 13,626 28,500 4,983
Gain on real estate dispositions 62,119 7,780 218,788
Income tax benefit (expense) 9,539 16,926 (4,827)
(Loss) income from continuing operations (30,297) (40,931) 56,559
Net (loss) income (30,297) (40,931) 56,559
Net income attributable to noncontrolling interests 10,676 6,516 7,551
Net (loss) income attributable to common stockholders $ (40,973) $ (47,447) $ 49,008
Basic:      
(Loss) income from continuing operations (USD per share) $ (0.08) $ (0.10) $ 0.15
Net (loss) income attributable to common stockholders (USD per share) (0.10) (0.12) 0.13
Diluted:      
(Loss) income from continuing operations (USD per share) [1] (0.08) (0.10) 0.15
Net (loss) income attributable to common stockholders (USD per share) [1] $ (0.10) $ (0.12) $ 0.13
Gain on foreclosure of real estate $ (29,127) $ 0 $ 0
Shareholder relations matters 0 20,693 0
Retained Earnings (Deficit)      
Property-level operating expenses:      
Net (loss) income (40,973) (47,447) 49,008
Net (loss) income attributable to common stockholders (40,973)    
Triple-net leased properties      
Rental income:      
Total rental income 619,208 598,154 653,823
Property-level operating expenses:      
Property-level operating expenses 14,557 15,301 15,335
Resident fees and services      
Rental income:      
Revenue from contracts with customers 2,959,219 2,651,886 2,270,001
Third party capital management revenues      
Rental income:      
Revenue from contracts with customers 17,841 26,199 20,096
SHOP      
Property-level operating expenses:      
Property-level operating expenses 2,247,812 2,004,420 1,811,728
Outpatient Medical And Research Portfolio      
Rental income:      
Total rental income 867,193 801,159 794,297
Property-level operating expenses:      
Property-level operating expenses $ 292,776 $ 257,003 $ 257,001
[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.