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Segment Disclosures (Tables)
 9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Summary of Financial Information of Reportable Segments
The following tables summarize information for the reportable segments (in thousands):
For the three months ended September 30, 2017:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
77,220

 
$
126,040

 
$
90,174

 
$
119,847

 
$
28,968

 
$
—

 
$
442,249

HCP share of unconsolidated JV revenues
 
—

 
81,936

 
2,031

 
496

 
421

 
—

 
84,884

Operating expenses
 
(934
)
 
(86,821
)
 
(19,960
)
 
(46,486
)
 
(1,137
)
 
—

 
(155,338
)
HCP share of unconsolidated JV operating expenses
 
—

 
(65,035
)
 
(433
)
 
(143
)
 
(20
)
 
—

 
(65,631
)
NOI
 
76,286

 
56,120

 
71,812

 
73,714

 
28,232

 
—

 
306,164

Adjustments to NOI(2)
 
(600
)
 
4,551

 
(751
)
 
(582
)
 
(1,283
)
 
—

 
1,335

Adjusted NOI
 
75,686

 
60,671

 
71,061

 
73,132

 
26,949

 
—

 
307,499

Addback adjustments
 
600

 
(4,551
)
 
751

 
582

 
1,283

 
—

 
(1,335
)
Interest income
 
—

 
—

 
—

 
—

 
11,774

 
—

 
11,774

Interest expense
 
(640
)
 
(933
)
 
(87
)
 
(126
)
 
(618
)
 
(68,924
)
 
(71,328
)
Depreciation and amortization
 
(25,547
)
 
(24,884
)
 
(30,851
)
 
(42,047
)
 
(7,259
)
 
—

 
(130,588
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(23,523
)
 
(23,523
)
Acquisition and pursuit costs
 
—

 
—

 
—

 
—

 
—

 
(580
)
 
(580
)
Recoveries (impairments), net
 
—

 
—

 
—

 
—

 
(25,328
)
 
—

 
(25,328
)
Gain (loss) on sales of real estate, net
 
(6
)
 
5,180

 
8

 
—

 
—

 
—

 
5,182

Loss on debt extinguishments
 
—

 
—

 
—

 
—

 
—

 
(54,227
)
 
(54,227
)
Other income (expense), net
 
—

 
—

 
—

 
—

 
—

 
(10,556
)
 
(10,556
)
Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
5,481

 
5,481

Less: HCP share of unconsolidated JV NOI
 
—

 
(16,901
)
 
(1,598
)
 
(353
)
 
(401
)
 
—

 
(19,253
)
Equity income (loss) from unconsolidated JVs
 
—

 
(245
)
 
789

 
274

 
244

 
—

 
1,062

Net income (loss)
 
$
50,093

 
$
18,337

 
$
40,073

 
$
31,462

 
$
6,644

 
$
(152,329
)
 
$
(5,720
)
_______________________________________
(1)
Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, the deferral of community fees, net of amortization, lease termination fees and non-refundable entrance fees as the fees are collected by the Company’s CCRC JV, net of CCRC JV entrance fee amortization.

For the three months ended September 30, 2016:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
104,262

 
$
170,739

 
$
90,847

 
$
113,653

 
$
30,574

 
$
—

 
$
510,075

HCP share of unconsolidated JV revenues
 
—

 
50,973

 
1,929

 
502

 
410

 
—

 
53,814

Operating expenses
 
(1,794
)
 
(121,502
)
 
(18,487
)
 
(44,738
)
 
(1,193
)
 
—

 
(187,714
)
HCP share of unconsolidated JV operating expenses
 
—

 
(42,463
)
 
(406
)
 
(148
)
 
(20
)
 
—

 
(43,037
)
NOI
 
102,468

 
57,747

 
73,883

 
69,269

 
29,771

 
—

 
333,138

Adjustments to NOI(2)
 
(1,003
)
 
4,081

 
(314
)
 
(814
)
 
(1,140
)
 
—

 
810

Adjusted NOI
 
101,465

 
61,828

 
73,569

 
68,455

 
28,631

 
—

 
333,948

Addback adjustments
 
1,003

 
(4,081
)
 
314

 
814

 
1,140

 
—

 
(810
)
Interest income
 
—

 
—

 
—

 
—

 
20,482

 
—

 
20,482

Interest expense
 
(644
)
 
(8,130
)
 
(634
)
 
(1,608
)
 
(2,260
)
 
(104,584
)
 
(117,860
)
Depreciation and amortization
 
(34,030
)
 
(26,837
)
 
(31,967
)
 
(41,111
)
 
(7,462
)
 
—

 
(141,407
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(34,781
)
 
(34,781
)
Acquisition and pursuit costs
 
—

 
—

 
—

 
—

 
—

 
(2,763
)
 
(2,763
)
Gain (loss) on sales of real estate, net
 
—

 
—

 
—

 
(9
)
 
—

 
—

 
(9
)
Other income (expense), net
 
—

 
—

 
—

 
—

 
—

 
1,432

 
1,432

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
424

 
424

Less: HCP share of unconsolidated JV NOI
 
—

 
(8,510
)
 
(1,523
)
 
(354
)
 
(390
)
 
—

 
(10,777
)
Equity income (loss) from unconsolidated JVs
 
—

 
(3,517
)
 
778

 
462

 
224

 
—

 
(2,053
)
Discontinued operations
 
—

 
—

 
—

 
—

 
—

 
108,213

 
108,213

Net income (loss)
 
$
67,794

 
$
10,753

 
$
40,537

 
$
26,649

 
$
40,365

 
$
(32,059
)
 
$
154,039

_______________________________________
(1)
Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, the deferral of community fees, net of amortization, lease termination fees and non-refundable entrance fees as the fees are collected by the Company’s CCRC JV, net of CCRC JV entrance fee amortization.

For the nine months ended September 30, 2017:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
255,332

 
$
391,684

 
$
262,224

 
$
357,381

 
$
87,524

 
$
—

 
$
1,354,145

HCP share of unconsolidated JV revenues
 
—

 
239,667

 
5,975

 
1,481

 
1,256

 
—

 
248,379

Operating expenses
 
(2,927
)
 
(267,226
)
 
(56,024
)
 
(137,930
)
 
(3,475
)
 
—

 
(467,582
)
HCP share of unconsolidated JV operating expenses
 
—

 
(190,049
)
 
(1,234
)
 
(431
)
 
(58
)
 
—

 
(191,772
)
NOI
 
252,405

 
174,076

 
210,941

 
220,501

 
85,247

 
—

 
943,170

Adjustments to NOI(2)
 
(2,844
)
 
12,229

 
(1,094
)
 
(2,321
)
 
(3,164
)
 
—

 
2,806

Adjusted NOI
 
249,561

 
186,305

 
209,847

 
218,180

 
82,083

 
—

 
945,976

Addback adjustments
 
2,844

 
(12,229
)
 
1,094

 
2,321

 
3,164

 
—

 
(2,806
)
Interest income
 
—

 
—

 
—

 
—

 
50,974

 
—

 
50,974

Interest expense
 
(1,898
)
 
(6,950
)
 
(288
)
 
(382
)
 
(3,541
)
 
(222,775
)
 
(235,834
)
Depreciation and amortization
 
(77,478
)
 
(75,657
)
 
(95,648
)
 
(127,261
)
 
(21,849
)
 
—

 
(397,893
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(67,287
)
 
(67,287
)
Acquisition and pursuit costs
 
—

 
—

 
—

 
—

 
—

 
(2,504
)
 
(2,504
)
Recoveries (impairments), net
 
—

 
—

 
—

 
—

 
(82,010
)
 
—

 
(82,010
)
Gain (loss) on sales of real estate, net
 
268,227

 
5,313

 
45,922

 
(406
)
 
3,796

 
—

 
322,852

Loss on debt extinguishments
 
—

 
—

 
—

 
—

 
—

 
(54,227
)
 
(54,227
)
Other income (expense), net
 
—

 
—

 
—

 
—

 
—

 
40,723

 
40,723

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
14,630

 
14,630

Less: HCP share of unconsolidated JV NOI
 
—

 
(49,618
)
 
(4,741
)
 
(1,050
)
 
(1,198
)
 
—

 
(56,607
)
Equity income (loss) from unconsolidated JVs
 
—

 
683

 
2,322

 
846

 
720

 
—

 
4,571

Net income (loss)
 
$
441,256

 
$
47,847

 
$
158,508

 
$
92,248

 
$
32,139

 
$
(291,440
)
 
$
480,558

_______________________________________
(1)
Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, the deferral of community fees, net of amortization, lease termination fees and non-refundable entrance fees as the fees are collected by the Company’s CCRC JV, net of CCRC JV entrance fee amortization.

For the nine months ended September 30, 2016:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
319,989

 
$
500,704

 
$
269,994

 
$
331,881

 
$
95,483

 
$
—

 
$
1,518,051

HCP share of unconsolidated JV revenues
 
—

 
152,424

 
5,628

 
1,503

 
1,224

 
—

 
160,779

Operating expenses
 
(5,521
)
 
(350,949
)
 
(53,191
)
 
(129,715
)
 
(3,375
)
 
—

 
(542,751
)
HCP share of unconsolidated JV operating expenses
 
—

 
(125,244
)
 
(1,173
)
 
(452
)
 
(30
)
 
—

 
(126,899
)
NOI
 
314,468

 
176,935

 
221,258

 
203,217

 
93,302

 
—

 
1,009,180

Adjustments to NOI(2)
 
(8,464
)
 
14,648

 
(1,545
)
 
(2,361
)
 
(1,926
)
 
—

 
352

Adjusted NOI
 
306,004

 
191,583

 
219,713

 
200,856

 
91,376

 
—

 
1,009,532

Addback adjustments
 
8,464

 
(14,648
)
 
1,545

 
2,361

 
1,926

 
—

 
(352
)
Interest income
 
—

 
—

 
—

 
—

 
71,298

 
—

 
71,298

Interest expense
 
(8,859
)
 
(23,818
)
 
(1,904
)
 
(4,899
)
 
(7,067
)
 
(314,708
)
 
(361,255
)
Depreciation and amortization
 
(101,737
)
 
(78,124
)
 
(97,640
)
 
(120,432
)
 
(23,248
)
 
—

 
(421,181
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(83,011
)
 
(83,011
)
Acquisition and pursuit costs
 
—

 
—

 
—

 
—

 
—

 
(6,061
)
 
(6,061
)
Gain (loss) on sales of real estate, net
 
23,940

 
—

 
29,428

 
8,333

 
57,904

 
—

 
119,605

Other income (expense), net
 
—

 
—

 
—

 
—

 
—

 
5,064

 
5,064

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
(1,101
)
 
(1,101
)
Less: HCP share of unconsolidated JV NOI
 
—

 
(27,180
)
 
(4,455
)
 
(1,051
)
 
(1,194
)
 
—

 
(33,880
)
Equity income (loss) from unconsolidated JVs
 
—

 
(8,477
)
 
2,263

 
1,541

 
645

 
—

 
(4,028
)
Discontinued operations
 
—

 
—

 
—

 
—

 
—

 
283,996

 
283,996

Net income (loss)
 
$
227,812

 
$
39,336

 
$
148,950

 
$
86,709

 
$
191,640

 
$
(115,821
)
 
$
578,626

_______________________________________
(1)
Represents rental and related revenues, tenant recoveries, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, the deferral of community fees, net of amortization, lease termination fees and non-refundable entrance fees as the fees are collected by the Company’s CCRC JV, net of CCRC JV entrance fee amortization.
Reconciliation of Company's Revenues by Segment
The following table summarizes the Company’s revenues by segment (in thousands):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Segment
 
2017
 
2016
 
2017
 
2016
Senior housing triple-net
 
$
77,220

 
$
104,262

 
$
255,332

 
$
319,989

SHOP
 
126,040

 
170,739

 
391,684

 
500,704

Life science
 
90,174

 
90,847

 
262,224

 
269,994

Medical office
 
119,847

 
113,653

 
357,381

 
331,881

Other non-reportable segments
 
40,742

 
51,056

 
138,498

 
166,781

Total revenues
 
$
454,023

 
$
530,557

 
$
1,405,119

 
$
1,589,349