Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2022

Summary Information for Reportable Segments

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


Three Months Ended June 30, 2022:	Seniors Housing Operating		Triple-net		Outpatient Medical		Non-segment / Corporate		Total
Resident fees and services	$	1,009,999	$	—	$	—	$	—	$	1,009,999
Rental income	—		197,182		164,229		—		361,411
Interest income	1,683		35,392		65		—		37,140
Other income	59,528		1,786		2,028		644		63,986
Total revenues	1,071,210		234,360		166,322		644		1,472,536

Property operating expenses	789,299		11,491		50,648		2,645		854,083
Consolidated net operating income (loss)	281,911		222,869		115,674		(2,001)		618,453

Depreciation and amortization	201,178		49,561		59,556		—		310,295
Interest expense	7,481		320		4,531		115,418		127,750
General and administrative expenses	—		—		—		36,554		36,554
Loss (gain) on derivatives and financial instruments, net	—		(1,407)		—		—		(1,407)
Loss (gain) on extinguishment of debt, net	400		—		4		199		603
Provision for loan losses, net	342		(176)		(1)		—		165

Other expenses	29,249		463		207		5,247		35,166
Income (loss) from continuing operations before income taxes and other items	43,261		174,108		51,377		(159,419)		109,327
Income tax (expense) benefit	—		—		—		(3,065)		(3,065)
Income (loss) from unconsolidated entities	(12,669)		5,874		(263)		—		(7,058)
Gain (loss) on real estate dispositions, net	(1,224)		(2,129)		(179)		—		(3,532)
Income (loss) from continuing operations	29,368		177,853		50,935		(162,484)		95,672
Net income (loss)	$	29,368	$	177,853	$	50,935	$	(162,484)	$	95,672

Total assets	$	20,972,302	$	8,851,738	$	6,451,415	$	298,216	$	36,573,671


Three Months Ended June 30, 2021:	Seniors Housing Operating		Triple-net		Outpatient Medical		Non-segment / Corporate		Total
Resident fees and services	$	740,891	$	—	$	—	$	—	$	740,891
Rental income	—		204,725		149,998		—		354,723
Interest income	856		32,861		4,731		—		38,448
Other income	802		1,355		4,343		430		6,930
Total revenues	742,549		238,941		159,072		430		1,140,992

Property operating expenses	582,361		12,627		45,495		2,174		642,657
Consolidated net operating income (loss)	160,188		226,314		113,577		(1,744)		498,335

Depreciation and amortization	131,035		54,406		55,444		—		240,885
Interest expense	10,553		1,704		3,907		106,177		122,341
General and administrative expenses	—		—		—		31,436		31,436
Loss (gain) on derivatives and financial instruments, net	—		(359)		—		—		(359)
Loss (gain) on extinguishment of debt, net	3,106		—		—		52,506		55,612
Provision for loan losses, net	(181)		10,019		(3,641)		—		6,197
Impairment of assets	17,713		3,768		2,211		—		23,692
Other expenses	3,709		4,110		1,098		2,770		11,687
Income (loss) from continuing operations before income taxes and other items	(5,747)		152,666		54,558		(194,633)		6,844
Income tax (expense) benefit	—		—		—		2,221		2,221
Income (loss) from unconsolidated entities	(12,938)		4,877		85		—		(7,976)
Gain (loss) on real estate dispositions, net	(28)		42,709		1,987		—		44,668
Income (loss) from continuing operations	(18,713)		200,252		56,630		(192,412)		45,757
Net income (loss)	$	(18,713)	$	200,252	$	56,630	$	(192,412)	$	45,757


Six Months Ended June 30, 2022	Seniors Housing Operating		Triple-net		Outpatient Medical		Non-segment / Corporate		Total
Resident fees and services	$	2,004,334	$	—	$	—	$	—	$	2,004,334
Rental income	—		393,183		324,618		—		717,801
Interest income	3,100		72,898		136		—		76,134
Other income	60,388		3,442		4,891		1,250		69,971
Total revenues	2,067,822		469,523		329,645		1,250		2,868,240

Property operating expenses	1,579,227		22,702		100,563		5,260		1,707,752
Consolidated net operating income	488,595		446,821		229,082		(4,010)		1,160,488

Depreciation and amortization	393,971		103,065		117,347		—		614,383
Interest expense	15,131		634		9,098		224,583		249,446
General and administrative expenses	—		—		—		74,260		74,260
Loss (gain) on derivatives and financial instruments, net	—		1,171		—		—		1,171
Loss (gain) on extinguishment of debt, net	385		—		7		199		591
Provision for loan losses, net	609		(1,241)		(7)		—		(639)

Other expenses	37,440		11,507		996		11,292		61,235
Income (loss) from continuing operations before income taxes and other items	41,059		331,685		101,641		(314,344)		160,041
Income tax (expense) benefit	—		—		—		(8,078)		(8,078)
Income (loss) from unconsolidated entities	(30,451)		21,417		(908)		—		(9,942)
Gain (loss) on real estate dispositions, net	1,477		18,320		(395)		—		19,402
Income (loss) from continuing operations	12,085		371,422		100,338		(322,422)		161,423
Net income (loss)	$	12,085	$	371,422	$	100,338	$	(322,422)	$	161,423


Six Months Ended June 30, 2021	Seniors Housing Operating			Triple-net			Outpatient Medical			Non-segment / Corporate		Total
Resident fees and services	$	1,464,355		$	—		$	—		$	—	$	1,464,355
Rental income	—			357,188			300,378			—		657,566
Interest income	1,975			47,783			8,269			—		58,027
Other income	2,621			2,452			6,648			1,385		13,106
Total revenues	1,468,951			407,423			315,295			1,385		2,193,054

Property operating expenses	1,138,329			25,468			92,358			3,828		1,259,983
Consolidated net operating income	330,622			381,955			222,937			(2,443)		933,071

Depreciation and amortization	263,621			111,073			110,617			—		485,311
Interest expense	21,971			3,586			7,922			212,004		245,483
General and administrative expenses	—			—			—			61,362		61,362
Loss (gain) on derivatives and financial instruments, net	—			1,575			—			—		1,575
Loss (gain) on extinguishment of debt, net	(1,537)			—			—			52,506		50,969
Provision for loan losses, net	70		18.69	10,872		—	(3,362)		18.69	—		7,580
Impairment of assets	22,317			22,732			2,211			—		47,260
Other expenses	7,168			9,093			1,810			4,610		22,681
Income (loss) from continuing operations before income taxes and other items	17,012			223,024			103,739			(332,925)		10,850
Income tax (expense) benefit	—			—			—			(1,722)		(1,722)
Income (loss) from unconsolidated entities	(7,704)			9,784			2,993			—		5,073
Gain (loss) on real estate dispositions, net	5,167			44,751			53,830			—		103,748
Income (loss) from continuing operations	14,475			277,559			160,562			(334,647)		117,949
Net income (loss)	$	14,475		$	277,559		$	160,562		$	(334,647)	$	117,949

Summary of Geographic Information

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


	Three Months Ended								Six Months Ended
	June 30, 2022				June 30, 2021				June 30, 2022				June 30, 2021
Revenues:	Amount(1)		%		Amount		%		Amount(1)		%		Amount		%
United States	$	1,218,879	82.7	%	$	893,672	78.4	%	$	2,357,895	82.2	%	$	1,719,320	78.4	%
United Kingdom	139,352		9.5	%	140,756		12.3	%	283,843		9.9	%	259,630		11.8	%
Canada	114,305		7.8	%	106,564		9.3	%	226,502		7.9	%	214,104		9.8	%
Total	$	1,472,536	100.0	%	$	1,140,992	100.0	%	$	2,868,240	100.0	%	$	2,193,054	100.0	%

	As of
	June 30, 2022				December 31, 2021
Assets:	Amount		%		Amount		%
United States	$	30,181,095	82.5	%	$	28,595,703	81.9	%
United Kingdom	3,519,917		9.6	%	3,938,258		11.3	%
Canada	2,872,659		7.9	%	2,376,364		6.8	%
Total	$	36,573,671	100.0	%	$	34,910,325	100.0	%

(1) The United States, United Kingdom and Canada represent 79%, 10% and 11% of our resident fees and services revenue for the three and six month periods ended June 30, 2022, respectively.