Segment Disclosures (Tables)

3 Months Ended

Mar. 31, 2016

Segment Disclosures

Summary financial information of reportable segment (in thousands)

Summary information for the reportable segments (in thousands):

For the three months ended March 31, 2016:

	Senior		Post-acute/		Life		Medical
	Housing		Skilled Nursing		Science		Office		Hospital		Total
Rental revenues(1)	$	128,897	$	107,190	$	88,948	$	108,994	$	22,870	$	456,899
Resident fees and services		165,763		—		—		—		—		165,763
Operating expenses		(116,136)		(564)		(16,743)		(42,313)		(1,199)		(176,955)
NOI		178,524		106,626		72,205		66,681		21,671		445,707
Non-cash adjustments to NOI(2)		(5,956)		(271)		(673)		(805)		303		(7,402)
Adjusted (cash) NOI		172,568		106,355		71,532		65,876		21,974		438,305
Adjusted (cash) NOI from unconsolidated joint ventures		14,898		404		1,420		322		—		17,044
Interest income		1,851		16,178		—		—		—		18,029
Portfolio Income	$	189,317	$	122,937	$	72,952	$	66,198	$	21,974		473,378
Addback non-cash adjustments												7,402
Investment management fee income												91
Interest expense												(122,062)
Depreciation and amortization												(141,322)
General and administrative expenses												(25,499)
Acquisition and pursuit costs												(2,475)
Other income, net												1,222
Income tax expense												(53,038)
Equity loss in unconsolidated joint ventures, excluding adjusted (cash) NOI												(17,952)
Net income											$	119,745

For the three months ended March 31, 2015:

	Senior		Post-acute/		Life		Medical
	Housing		Skilled Nursing		Science		Office		Hospital		Total
Rental revenues(1)	$	127,382	$	140,576	$	83,551	$	98,305	$	22,242	$	472,056
Resident fees and services		105,013		—		—		—		—		105,013
Operating expenses		(75,510)		(533)		(16,699)		(38,252)		(1,037)		(132,031)
NOI		156,885		140,043		66,852		60,053		21,205		445,038
Non-cash adjustments to NOI(2)		(6,413)		(18,083)		(3,075)		(1,866)		252		(29,185)
Adjusted (cash) NOI		150,472		121,960		63,777		58,187		21,457		415,853
Adjusted (cash) NOI from unconsolidated joint ventures		14,012		—		1,228		304		—		15,544
Interest income		7,394		25,868		—		—		—		33,262
Portfolio Income	$	171,878	$	147,828	$	65,005	$	58,491	$	21,457		464,659
Addback non-cash adjustments												29,185
Investment management fee income												460
Interest expense												(116,780)
Depreciation and amortization												(114,522)
General and administrative expenses												(24,773)
Acquisition and pursuit costs												(3,390)
Impairment												(478,464)
Gain on sales of real estate												6,264
Other income, net												1,724
Income tax benefit												77
Equity loss in unconsolidated joint ventures, excluding adjusted (cash) NOI												(1,943)
Net loss											$	(237,503)

(1) Represents rental and related revenues, tenant recoveries and income from DFLs.

(2) Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles and lease termination fees.

Reconciliation of company's assets to total assets (in thousands)

A summary of the Company’s total assets by segment (in thousands):

	March 31,		December 31,
Segment	2016		2015
Senior housing	$	9,931,444	$	9,812,142
Post-acute/skilled nursing		5,111,794		5,162,947
Life science		3,944,689		3,905,137
Medical office		3,485,010		3,469,048
Hospital		622,820		622,820
Gross segment assets		23,095,757		22,972,094
Accumulated depreciation and amortization		(3,059,436)		(2,941,568)
Net segment assets		20,036,321		20,030,526
Real estate assets held for sale, net		311,243		314,126
Other non-segment assets		852,363		1,105,197
Total assets	$	21,199,927	$	21,449,849