Dispositions, Assets Held for Sale and Discontinued Operations

3 Months Ended

Mar. 31, 2017

Disclosure Dispositions, Assets Held for Sale and Discontinued Operations [Abstract]

Dispositions, Assets Held for Sale and Discontinued Operations

5. Dispositions, Assets Held for Sale and Discontinued Operations

We periodically sell properties for various reasons, including favorable market conditions, the exercise of tenant purchase options or reduction of concentrations (e.g., property type, operator or geography). During the three months ended March 31, 2017 and 2016, we recorded impairment charges on certain held-for-sale seniors housing operating and outpatient medical properties as the fair values less estimated costs to sell exceeded our carrying values. The following is a summary of our real property disposition activity for the periods presented (in thousands):

		Three Months Ended
		March 31, 2017			March 31, 2016
Real estate dispositions:
	Triple-net		$	808,204		$	-
	Seniors housing operating			13,845			-
	Total dispositions			822,049			-
Gain (loss) on real estate dispositions, net				244,092			-
	Net other assets/liabilities disposed			20,933			-
Proceeds from real estate dispositions			$	1,087,074		$	-

Dispositions and Assets Held for Sale

Pursuant to our adoption of ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, operating results attributable to properties sold subsequent to or classified as held for sale after January 1, 2014 and which do not meet the definition of discontinued operations are no longer reclassified on our Consolidated Statements of Comprehensive Income. The following represents the activity related to these properties for the periods presented (in thousands):

			Three Months Ended
			March 31,
		2017		2016
Revenues:
	Rental income	$	16,734	$	5,477
Expenses:
	Interest expense		1,301		851
	Property operating expenses		1,855		1,362
	Provision for depreciation		245		820
	Total expenses		3,401		3,033
Income (loss) from real estate dispositions, net		$	13,333	$	2,444