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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental income $ 376,306 $ 386,138 $ 1,123,338 $ 1,109,043
Income from loans and investments 1,881 1,208 4,606 21,351
Interest and other income 8,204 2,754 19,809 5,529
Total revenues 1,236,315 1,149,832 3,637,209 3,333,435
Expenses        
Interest 150,437 147,919 449,629 419,259
Depreciation and amortization 304,268 370,377 944,371 957,185
Property-level operating expenses 713,408 656,477 2,081,056 1,887,226
Third party capital management expenses     4,956 4,614
General, administrative and professional fees 35,092 33,297 121,556 112,494
Loss (gain) on extinguishment of debt, net 0 612 672 (6,189)
Transaction, transition and restructuring costs 8,580 7,125 16,143 11,580
Recovery of allowance on loans receivable and investments, net (56) (66) (166) (20,195)
Gain on foreclosure of real estate 0 0 0 (29,127)
Shareholder relations matters 0 0 15,751 0
Other expense (income) 3,935 9,432 10,729 (765)
Total expenses 1,217,217 1,226,645 3,644,697 3,336,082
Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests 19,098 (76,813) (7,488) (2,647)
Income from unconsolidated entities 4,629 (5,119) (5,406) 20,512
Gain on real estate dispositions 271 10,711 50,282 22,317
Income tax expense (3,002) 1,662 (7,764) 14,237
Net income 20,996 (69,559) 29,624 54,419
Net income attributable to noncontrolling interests 1,753 1,565 5,306 4,573
Net income attributable to common stockholders $ 19,243 $ (71,124) $ 24,318 $ 49,846
Basic:        
(Loss) income from continuing (in usd per share) $ 0.05 $ (0.17) $ 0.07 $ 0.14
Net (loss) income attributable to common stockholders (in usd per share) 0.05 (0.18) 0.06 0.12
Diluted:        
(Loss) income from continuing (in usd per share) [1] 0.05 (0.17) 0.07 0.13
Net (loss) income attributable to common stockholders (in usd per share) [1] $ 0.05 $ (0.18) $ 0.06 $ 0.12
NNN        
Revenues        
Rental income $ 155,349 $ 159,812 $ 464,651 $ 463,906
Expenses        
Property-level operating expenses 4,379 3,847 11,623 11,180
OM&R        
Revenues        
Rental income 220,957 226,326 658,687 645,137
Expenses        
Property-level operating expenses 77,479 78,915 224,703 217,999
Resident fees and services        
Revenues        
Other revenues 845,532 754,417 2,476,436 2,184,024
Senior housing        
Expenses        
Property-level operating expenses 631,550 573,715 1,844,730 1,658,047
Third party capital management expenses        
Revenues        
Other revenues 4,392 5,315 13,020 13,488
Expenses        
Third party capital management expenses $ 1,553 $ 1,472 $ 4,956 $ 4,614
[1] Potential common shares are not included in the computation of diluted earnings per share (“EPS”) when a net loss exists as the effect would be an antidilutive per share amount.