Dispositions of Real Estate and Discontinued Operations

3 Months Ended

Mar. 31, 2014

Dispositions of Real Estate and Discontinued Operations

Dispositions of Real Estate and Discontinued Operations

(4) Dispositions of Real Estate andDiscontinued Operations

During the three months ended March 31, 2014, the Company sold two post-acute/skilled nursing facilities for $22 million and a hospital for $17 million. There were no sales of real estate assets during the three months ended March 31, 2013.

At December 31, 2013, one hospital and two post-acute/skilled nursing facilities were classified as held for sale, with a carrying value of $10 million. There were no assets classified as held for sale at March 31, 2014.

The following table summarizes operating income from discontinued operations and gain on sales of real estate included in discontinued operations (dollars in thousands):

	Three Months Ended March 31,
	2014		2013
Rental and related revenues	$	1,810	$	5,083
Depreciation and amortization expenses	—		1,538
Operating expenses	54		919
Other expenses, net	20		394
Income before gain on sales of real estate, net of income taxes	$	1,736	$	2,232
Gain on sales of real estate, net of income taxes	$	28,010	$	—
Number of properties included in discontinued operations	3		13