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Segment Disclosures (Tables)
 9 Months Ended
Sep. 30, 2018
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, 2018:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
67,487

 
$
137,044

 
$
98,040

 
$
129,618

 
$
22,597

 
$
—

 
$
454,786

Operating expenses
 
(840
)
 
(106,182
)
 
(23,668
)
 
(49,150
)
 
(1,367
)
 
—

 
(181,207
)
NOI
 
66,647

 
30,862

 
74,372

 
80,468

 
21,230

 
—

 
273,579

Adjustments to NOI(2)
 
534

 
1,378

 
(1,439
)
 
(319
)
 
(857
)
 
—

 
(703
)
Adjusted NOI
 
67,181

 
32,240

 
72,933

 
80,149

 
20,373

 
—

 
272,876

Addback adjustments
 
(534
)
 
(1,378
)
 
1,439

 
319

 
857

 
—

 
703

Interest income
 
—

 
—

 
—

 
—

 
1,236

 
—

 
1,236

Interest expense
 
(599
)
 
(688
)
 
(78
)
 
(117
)
 
—

 
(62,004
)
 
(63,486
)
Depreciation and amortization
 
(18,884
)
 
(25,166
)
 
(34,432
)
 
(50,294
)
 
(3,422
)
 
—

 
(132,198
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(23,503
)
 
(23,503
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

 
(4,489
)
 
(4,489
)
Recoveries (impairments), net
 
—

 
(5,268
)
 
—

 
—

 
—

 
—

 
(5,268
)
Gain (loss) on sales of real estate, net
 
463

 
10,163

 
80,580

 
3,903

 
223

 
—

 
95,332

Loss on debt extinguishments
 
—

 
—

 
—

 
—

 
—

 
(43,899
)
 
(43,899
)
Other income (expense), net
 
—

 
—

 
—

 
—

 
—

 
1,604

 
1,604

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
4,929

 
4,929

Equity income (loss) from unconsolidated JVs
 
—

 
—

 
—

 
—

 
(911
)
 
—

 
(911
)
Net income (loss)
 
$
47,627

 
$
9,903

 
$
120,442

 
$
33,960

 
$
18,356

 
$
(127,362
)
 
$
102,926

_______________________________________
(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, deferral of community fees, net and termination fees.
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

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

 
(155,338
)
NOI
 
76,286

 
39,219

 
70,214

 
73,361

 
27,831

 
—

 
286,911

Adjustments to NOI(2)
 
(600
)
 
(35
)
 
(785
)
 
(578
)
 
(1,283
)
 
—

 
(3,281
)
Adjusted NOI
 
75,686

 
39,184

 
69,429

 
72,783

 
26,548

 
—

 
283,630

Addback adjustments
 
600

 
35

 
785

 
578

 
1,283

 
—

 
3,281

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
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

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

 
—

 
—

 
—

 
(25,328
)
 
—

 
(25,328
)
Gain (loss) on sales of real estate, net
 
5,176

 
(2
)
 
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

Equity income (loss) from unconsolidated JVs
 
—

 
—

 
—

 
—

 
1,062

 
—

 
1,062

Net income (loss)
 
$
55,275

 
$
13,400

 
$
39,284

 
$
31,188

 
$
7,462

 
$
(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, deferral of community fees, net and termination fees.
For the nine months ended September 30, 2018:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Rental revenues(1)
 
$
212,489

 
$
420,067

 
$
298,692

 
$
378,798

 
$
85,676

 
$
—

 
$
1,395,722

Operating expenses
 
(2,677
)
 
(309,694
)
 
(68,208
)
 
(143,114
)
 
(3,932
)
 
—

 
(527,625
)
NOI
 
209,812

 
110,373

 
230,484

 
235,684

 
81,744

 
—

 
868,097

Adjustments to NOI(2)
 
(323
)
 
(356
)
 
(7,423
)
 
(2,383
)
 
(3,566
)
 
—

 
(14,051
)
Adjusted NOI
 
209,489

 
110,017

 
223,061

 
233,301

 
78,178

 
—

 
854,046

Addback adjustments
 
323

 
356

 
7,423

 
2,383

 
3,566

 
—

 
14,051

Interest income
 
—

 
—

 
—

 
—

 
9,048

 
—

 
9,048

Interest expense
 
(1,806
)
 
(2,067
)
 
(240
)
 
(356
)
 
(1,469
)
 
(205,688
)
 
(211,626
)
Depreciation and amortization
 
(62,041
)
 
(80,797
)
 
(105,782
)
 
(142,229
)
 
(27,891
)
 
—

 
(418,740
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(75,192
)
 
(75,192
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

 
(9,088
)
 
(9,088
)
Recoveries (impairments), net
 
(6,273
)
 
(5,268
)
 
(7,639
)
 
—

 
—

 
—

 
(19,180
)
Gain (loss) on sales of real estate, net
 
(22,687
)
 
79,340

 
80,581

 
3,903

 
21,074

 
—

 
162,211

Loss on debt extinguishments
 
—

 
—

 
—

 
—

 
—

 
(43,899
)
 
(43,899
)
Other income (expense), net
 
—

 
—

 
—

 
—

 
(40,567
)
 
3,550

 
(37,017
)
Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
14,919

 
14,919

Equity income (loss) from unconsolidated JVs
 
—

 
—

 
—

 
—

 
(442
)
 
—

 
(442
)
Net income (loss)
 
$
117,005

 
$
101,581

 
$
197,404

 
$
97,002

 
$
41,497

 
$
(315,398
)
 
$
239,091

_______________________________________
(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, deferral of community fees, net and termination fees.
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

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

 
(467,582
)
NOI
 
252,405

 
124,458

 
206,200

 
219,451

 
84,049

 
—

 
886,563

Adjustments to NOI(2)
 
(2,844
)
 
(334
)
 
(1,211
)
 
(2,304
)
 
(3,162
)
 
—

 
(9,855
)
Adjusted NOI
 
249,561

 
124,124

 
204,989

 
217,147

 
80,887

 
—

 
876,708

Addback adjustments
 
2,844

 
334

 
1,211

 
2,304

 
3,162

 
—

 
9,855

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
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

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

 
—

 
—

 
—

 
(82,010
)
 
—

 
(82,010
)
Gain (loss) on sales of real estate, net
 
273,409

 
131

 
45,922

 
(406
)
 
3,796

 
—

 
322,852

Loss on debt extinguishments
 
—

 
—

 
—

 
—

 
—

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

 
—

 
—

 
—

 
50,895

 
(10,172
)
 
40,723

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
14,630

 
14,630

Equity income (loss) from unconsolidated JVs
 
—

 
—

 
—

 
—

 
4,571

 
—

 
4,571

Net income (loss)
 
$
446,438

 
$
41,982

 
$
156,186

 
$
91,402

 
$
86,885

 
$
(342,335
)
 
$
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, deferral of community fees, net and termination fees.
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
 
2018
 
2017
 
2018
 
2017
Senior housing triple-net
 
$
67,487

 
$
77,220

 
$
212,489

 
$
255,332

SHOP
 
137,044

 
126,040

 
420,067

 
391,684

Life science
 
98,040

 
90,174

 
298,692

 
262,224

Medical office
 
129,618

 
119,847

 
378,798

 
357,381

Other non-reportable segments
 
23,833

 
40,742

 
94,724

 
138,498

Total revenues
 
$
456,022

 
$
454,023

 
$
1,404,770

 
$
1,405,119