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Segment Disclosures (Tables)
 6 Months Ended
Jun. 30, 2019
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 June 30, 2019:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Real estate revenues(1)
 
$
49,866

 
$
177,001

 
$
107,596

 
$
141,927

 
$
12,763

 
$
—

 
$
489,153

Operating expenses
 
(866
)
 
(137,460
)
 
(25,480
)
 
(50,176
)
 
(11
)
 
—

 
(213,993
)
NOI
 
49,000

 
39,541

 
82,116

 
91,751

 
12,752

 
—

 
275,160

Adjustments to NOI(2)
 
4,807

 
841

 
(7,614
)
 
(1,203
)
 
219

 
—

 
(2,950
)
Adjusted NOI
 
53,807

 
40,382

 
74,502

 
90,548

 
12,971

 
—

 
272,210

Addback adjustments
 
(4,807
)
 
(841
)
 
7,614

 
1,203

 
(219
)
 
—

 
2,950

Interest income
 
—

 
—

 
—

 
—

 
2,414

 
—

 
2,414

Interest expense
 
(206
)
 
(1,326
)
 
(70
)
 
(109
)
 
—

 
(55,231
)
 
(56,942
)
Depreciation and amortization
 
(15,693
)
 
(52,242
)
 
(41,431
)
 
(54,096
)
 
(1,834
)
 
—

 
(165,296
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(27,120
)
 
(27,120
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

 
(1,337
)
 
(1,337
)
Recoveries (impairments), net
 
(15,485
)
 
(52,963
)
 
—

 
(90
)
 
—

 
—

 
(68,538
)
Gain (loss) on sales of real estate, net
 
—

 
4,691

 
3,816

 
2,941

 
—

 
—

 
11,448

Loss on debt extinguishments
 
—

 
—

 
—

 
—

 
—

 
(1,135
)
 
(1,135
)
Other income (expense), net
 
—

 
—

 
—

 
—

 
12,817

 
8,191

 
21,008

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
1,864

 
1,864

Equity income (loss) from unconsolidated joint ventures
 
—

 
—

 
—

 
—

 
(1,506
)
 
—

 
(1,506
)
Net income (loss)
 
$
17,616

 
$
(62,299
)
 
$
44,431

 
$
40,397

 
$
24,643

 
$
(74,768
)
 
$
(9,980
)
_______________________________________
(1)
Represents rental and related revenues, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, deferral of community fees, net, and termination fees.
For the three months ended June 30, 2018:
 
 
Senior Housing Triple-Net
 
SHOP
 
Life Science
 
Medical Office
 
Other Non-reportable
 
Corporate Non-segment
 
Total
Real estate revenues(1)
 
$
70,713

 
$
138,352

 
$
101,031

 
$
134,574

 
$
23,434

 
$
—

 
$
468,104

Operating expenses
 
(791
)
 
(101,767
)
 
(22,732
)
 
(48,528
)
 
(48
)
 
—

 
(173,866
)
NOI
 
69,922

 
36,585

 
78,299

 
86,046

 
23,386

 
—

 
294,238

Adjustments to NOI(2)
 
1,006

 
(124
)
 
(2,233
)
 
(1,831
)
 
(480
)
 
—

 
(3,662
)
Adjusted NOI
 
70,928

 
36,461

 
76,066

 
84,215

 
22,906

 
—

 
290,576

Addback adjustments
 
(1,006
)
 
124

 
2,233

 
1,831

 
480

 
—

 
3,662

Interest income
 
—

 
—

 
—

 
—

 
1,447

 
—

 
1,447

Interest expense
 
(607
)
 
(990
)
 
(80
)
 
(119
)
 
(742
)
 
(70,500
)
 
(73,038
)
Depreciation and amortization
 
(21,251
)
 
(28,002
)
 
(35,269
)
 
(48,098
)
 
(10,672
)
 
—

 
(143,292
)
General and administrative
 
—

 
—

 
—

 
—

 
—

 
(22,514
)
 
(22,514
)
Transaction costs
 
—

 
—

 
—

 
—

 
—

 
(2,404
)
 
(2,404
)
Recoveries (impairments), net
 
(6,273
)
 
—

 
(7,639
)
 
—

 
—

 
—

 
(13,912
)
Gain (loss) on sales of real estate, net
 
(23,039
)
 
48,252

 
—

 
—

 
20,851

 
—

 
46,064

Other income (expense), net
 
—

 
—

 
—

 
—

 
—

 
1,786

 
1,786

Income tax benefit (expense)
 
—

 
—

 
—

 
—

 
—

 
4,654

 
4,654

Equity income (loss) from unconsolidated joint ventures
 
—

 
—

 
—

 
—

 
(101
)
 
—

 
(101
)
Net income (loss)
 
$
18,752

 
$
55,845

 
$
35,311

 
$
37,829

 
$
34,169

 
$
(88,978
)
 
$
92,928

_______________________________________
(1)
Represents rental and related revenues, resident fees and services, and income from DFLs.
(2)
Represents straight-line rents, DFL non-cash interest, amortization of market lease intangibles, net, actuarial reserves for insurance claims that have been incurred but not reported, 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
June 30,
 
Six Months Ended
June 30,
Segment
 
2019
 
2018
 
2019
 
2018
Senior housing triple-net
 
$
49,866

 
$
70,713

 
$
108,758

 
$
145,003

SHOP
 
177,001

 
138,352

 
303,182

 
283,022

Life science
 
107,596

 
101,031

 
202,068

 
200,653

Medical office
 
141,927

 
134,574

 
284,122

 
267,794

Other non-reportable segments
 
15,177

 
24,881

 
29,591

 
52,276

Total revenues
 
$
491,567

 
$
469,551

 
$
927,721

 
$
948,748