Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2011

Segment Reporting (Tables) [Abstract]

Summary of information for reportable segments

Summary information for the reportable segments during the years ended December 31, 2011, 2010 and 2009 is as follows (in thousands):

Year Ended December 31, 2011:		Seniors Housing Triple-net		Seniors Housing Operating		Medical Facilities⁽²⁾		Non-segment / Corporate		Total
Rental income	$	570,675	$	-	$	293,189	$	-	$	863,864
Resident fees and services		-		456,085		-		-		456,085
Interest income		34,068		-		7,002		-		41,070
Other income		6,620		-		3,985		690		11,295
Total revenues		611,363		456,085		304,176		690		1,372,314

Property operating expenses		-		(314,142)		(64,436)		-		(378,578)
Net operating income from continuing operations⁽¹⁾		611,363		141,943		239,740		690		993,736

Reconciling items:
Interest expense		(4,764)		(46,342)		(27,539)		(228,884)		(307,529)
Depreciation and amortization		(164,494)		(138,192)		(101,866)		-		(404,552)
General and administrative		-		-		-		(77,201)		(77,201)
Transaction costs		(27,993)		(36,328)		(5,903)		-		(70,224)
Gain (loss) on extinguishment of debt		-		979		-		-		979
Provision for loan losses		-		-		(2,010)		-		(2,010)
Income (loss) from continuing operations before income taxes and income from unconsolidated entities	$	414,112	$	(77,940)	$	102,422	$	(305,395)	$	133,199
Total assets	$	7,823,953	$	3,041,238	$	3,795,940	$	263,475	$	14,924,606

Year Ended December 31, 2010:		Seniors Housing Triple-net		Seniors Housing Operating		Medical Facilities⁽²⁾		Non-segment / Corporate		Total
Rental income	$	306,733	$	-	$	203,578	$	-	$	510,311
Resident fees and services		-		51,006		-		-		51,006
Interest income		36,176		-		4,679		-		40,855
Other income		3,386		-		985		2,874		7,245
Total revenues		346,295		51,006		209,242		2,874		609,417

Property operating expenses		-		(32,621)		(45,842)		-		(78,463)
Net operating income from continuing operations⁽¹⁾		346,295		18,385		163,400		2,874		530,954

Reconciling items:
Interest expense		36		(7,794)		(20,261)		(113,129)		(141,148)
Depreciation and amortization		(87,250)		(15,504)		(70,122)		-		(172,876)
General and administrative		-		-		-		(54,626)		(54,626)
Transaction costs		(20,612)		(20,936)		(5,112)		-		(46,660)
Gain (loss) on extinguishment of debt		(7,791)		-		(1,308)		(25,072)		(34,171)
Provision for loan losses		(29,684)		-		-		-		(29,684)
Income (loss) from continuing operation before income taxes and income from unconsolidated entities	$	200,994	$	(25,849)	$	66,597	$	(189,953)	$	51,789

Total assets	$	4,756,896	$	1,080,416	$	3,389,441	$	224,981	$	9,451,734

Year Ended December 31, 2009:		Seniors Housing Triple-net		Seniors Housing Operating		Medical Facilities⁽²⁾		Non-segment / Corporate		Total
Rental income	$	268,119	$	-	$	159,078	$	-	$	427,197
Interest income		35,945		-		4,940		-		40,885
Other income		5,309		-		1,309		1,170		7,788
Total revenues		309,373		-		165,327		1,170		475,870

Property operating expenses		-		-		(41,689)		-		(41,689)
Net operating income from continuing operations⁽¹⁾		309,373		-		123,638		1,170		434,181

Reconciling items:
Interest expense		5,206		-		(15,272)		(76,566)		(86,632)
Depreciation and amortization		(70,366)		-		(55,172)		-		(125,538)
General and administrative		-		-		-		(49,691)		(49,691)
Gain (loss) on extinguishment of debt		(2,057)		-		(3,781)		(19,269)		(25,107)
Provision for loan losses		(23,261)		-		-		-		(23,261)
Income (loss) from continuing operations before income taxes and income from unconsolidated entities	$	218,895	$	-	$	49,413	$	(144,356)	$	123,952

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Net operating income from continuing operations (“NOI”) is used to evaluate the operating performance of our properties. We define NOI as total revenues, including tenant reimbursements, less property level operating expenses, which exclude depreciation and amortization, general and administrative expenses, impairments and interest expense. We believe NOI provides investors relevant and useful information because it measures the operating performance of our properties at the property level on an unleveraged basis. We use NOI to make decisions about resource allocations and to assess the property level performance of our properties.
Excludes income and expense amounts related to our properties held in unconsolidated entities. Please see Note 7 for additional information.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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