Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Summary information for the reportable segments (which excludes unconsolidated entities) is as follows (in thousands):



Three Months Ended June 30, 2019:	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	914,085		$	—		$	—		$	—		$	914,085
Rental income	—			222,362			163,224			—			385,586
Interest income	—			17,118			238			—			17,356
Other income	1,444			1,278			(97		)	454			3,079
Total revenues	915,529			240,758			163,365			454			1,320,106

Property operating expenses	637,317			12,823			50,987			—			701,127
Consolidated net operating income	278,212			227,935			112,378			454			618,979

Depreciation and amortization	136,551			56,056			55,445			—			248,052
Interest expense	17,572			3,225			3,386			117,153			141,336
General and administrative expenses	—			—			—			33,741			33,741
Loss (gain) on derivatives and financial instruments, net	—			1,913			—			—			1,913
Impairment of assets	—			(940		)	10,879			—			9,939
Other expenses	11,857			5,560			(4		)	4,215			21,628
Income (loss) from continuing operations before income taxes and other items	112,232			162,121			42,672			(154,655		)	162,370
Income tax (expense) benefit	375			(1,361		)	(586		)	(27		)	(1,599		)
(Loss) income from unconsolidated entities	(17,453		)	6,578			1,826			—			(9,049		)
Gain (loss) on real estate dispositions, net	(550		)	(1,130		)	(2		)	—			(1,682		)
Income (loss) from continuing operations	94,604			166,208			43,910			(154,682		)	150,040
Net income (loss)	$	94,604		$	166,208		$	43,910		$	(154,682	)	$	150,040

Total assets	$	16,440,104		$	9,494,388		$	7,004,561		$	209,644		$	33,148,697



Three Months Ended June 30, 2018:	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	763,345		$	—		$	—		$	—		$	763,345
Rental income	—			197,961			135,640			—			333,601
Interest income	172			13,247			43			—			13,462
Other income	1,650			13,212			144			498			15,504
Total revenues	765,167			224,420			135,827			498			1,125,912

Property operating expenses	525,662			136			42,953			—			568,751
Consolidated net operating income	239,505			224,284			92,874			498			557,161

Depreciation and amortization	134,779			55,309			46,187			—			236,275
Interest expense	16,971			3,800			1,656			98,989			121,416
General and administrative expenses	—			—			—			32,831			32,831
Loss (gain) on derivatives and financial instruments, net	—			(7,460		)	—			—			(7,460		)
Loss (gain) on extinguishment of debt, net	299			—			—			—			299
Impairment of assets	2,212			2,420			—			—			4,632
Other expenses	6,167			957			2,095			839			10,058
Income (loss) from continuing operations before income taxes and other items	79,077			169,258			42,936			(132,161		)	159,110
Income tax (expense) benefit	(2,617		)	(688		)	(378		)	(158		)	(3,841		)
(Loss) income from unconsolidated entities	(5,204		)	5,062			1,391			—			1,249
Gain (loss) on real estate dispositions, net	(1		)	10,759			(3		)	—			10,755
Income (loss) from continuing operations	71,255			184,391			43,946			(132,319		)	167,273
Net income (loss)	$	71,255		$	184,391		$	43,946		$	(132,319	)	$	167,273



Six Months Ended June 30, 2019	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	1,782,370		$	—		$	—		$	—		$	1,782,370
Rental income	—			454,394			312,276			—			766,670
Interest income	—			32,064			411			—			32,475
Other income	5,545			2,541			139			2,611			10,836
Total revenues	1,787,915			488,999			312,826			2,611			2,592,351

Property operating expenses	1,245,003			27,778			99,153			—			1,371,934
Consolidated net operating income	542,912			461,221			213,673			2,611			1,220,417

Depreciation and amortization	268,126			117,404			106,454			—			491,984
Interest expense	35,823			6,665			6,734			237,346			286,568
General and administrative expenses	—			—			—			69,023			69,023
Loss (gain) on derivatives and financial instruments, net	—			(574		)	—			—			(574		)
Loss (gain) on extinguishment of debt, net	—			—			—			15,719			15,719
Provision for loan losses	—			18,690			—			—			18,690
Impairment of assets	—			(940		)	10,879			—			9,939
Other expenses	14,803			8,589			750			6,242			30,384
Income (loss) from continuing operations before income taxes and other items	224,160			311,387			88,856			(325,719		)	298,684
Income tax (expense) benefit	(244		)	(2,312		)	(951		)	(314		)	(3,821		)
(Loss) income from unconsolidated entities	(34,033		)	12,236			3,549			—			(18,248		)
Gain (loss) on real estate dispositions, net	(710		)	166,444			(7		)	—			165,727
Income (loss) from continuing operations	189,173			487,755			91,447			(326,033		)	442,342
Net income (loss)	$	189,173		$	487,755		$	91,447		$	(326,033	)	$	442,342



Six Months Ended June 30, 2018	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate			Total
Resident fees and services	$	1,499,279		$	—		$	—		$	—		$	1,499,279
Rental income	—			404,792			272,178			—			676,970
Interest income	257			27,798			55			—			28,110
Other income	2,798			14,589			265			866			18,518
Total revenues	1,502,334			447,179			272,498			866			2,222,877

Property operating expenses	1,037,603			157			87,456			—			1,125,216
Consolidated net operating income	464,731			447,022			185,042			866			1,097,661

Depreciation and amortization	260,548			111,341			92,587			—			464,476
Interest expense	33,906			7,242			3,332			199,711			244,191
General and administrative expenses	—			—			—			66,536			66,536
Loss (gain) on derivatives and financial instruments, net	—			(14,633		)	—			—			(14,633		)
Loss (gain) on extinguishment of debt, net	110			(32		)	11,928			—			12,006
Impairment of assets	4,513			28,304			—			—			32,817
Other expenses	5,979			2,077			2,693			3,021			13,770
Income (loss) from continuing operations before income taxes and other items	159,675			312,723			74,502			(268,402		)	278,498
Income tax (expense) benefit	(2,455		)	(1,824		)	(806		)	(344		)	(5,429		)
(Loss) income from unconsolidated entities	(14,684		)	10,883			2,621			—			(1,180		)
Gain (loss) on real estate dispositions, net	4			134,156			214,779			—			348,939
Income (loss) from continuing operations	142,540			455,938			291,096			(268,746		)	620,828
Net income (loss)	$	142,540		$	455,938		$	291,096		$	(268,746	)	$	620,828

The following is a summary of geographic information for the periods presented (dollars in thousands):