Sonida Senior Living (SNDA) 10-Q 10 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 03, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	CSU
Entity Registrant Name	CAPITAL SENIOR LIVING CORP
Entity Central Index Key	0001043000
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		31,119,487

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 22,185	$ 31,309
Restricted cash	13,032	13,011
Accounts receivable, net	10,469	10,581
Federal and state income taxes receivable	152	152
Assets held for sale	4,850
Property tax and insurance deposits	8,587	13,173
Prepaid expenses and other	3,666	5,232
Total current assets	62,941	73,458
Property and equipment, net	1,023,707	1,059,049
Operating lease right-of-use assets, net	246,430
Deferred taxes, net	152	152
Other assets, net	10,279	16,485
Total assets	1,343,509	1,149,144
Current liabilities:
Accounts payable	2,201	9,095
Accrued expenses	38,206	41,880
Current portion of notes payable, net of deferred loan costs	17,044	14,342
Current portion of deferred income	5,051	14,892
Current portion of financing obligations	1,672	3,113
Current portion of operating lease liabilities	44,623
Federal and state income taxes payable	559	406
Customer deposits	1,319	1,302
Total current liabilities	110,675	85,030
Deferred income		8,151
Financing obligations, net of current portion	11,003	45,647
Operating lease liabilities, net of current portion	235,231
Other long-term liabilities		15,643
Notes payable, net of deferred loan costs and current portion	952,661	959,408
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $.01 par value: Authorized shares – 15,000; no shares issued or outstanding
Common stock, $.01 par value: Authorized shares – 65,000; issued and outstanding shares – 31,123 and 31,273 in 2019 and 2018, respectively	316	318
Additional paid-in capital	186,903	187,879
Retained deficit	(149,850)	(149,502)
Treasury stock, at cost – 494 shares in 2019 and 2018	(3,430)	(3,430)
Total shareholders’ equity	33,939	35,265
Total liabilities and shareholders’ equity	$ 1,343,509	$ 1,149,144

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	65,000,000	65,000,000
Common stock, shares issued	31,123,000	31,273,000
Common stock, shares outstanding	31,123,000	31,273,000
Treasury stock, shares	494,000	494,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Resident revenue	$ 114,176	$ 114,643
Type of Revenue [Extensible List]	us-gaap:HealthCareResidentServiceMember	us-gaap:HealthCareResidentServiceMember
Expenses:
Operating expenses (exclusive of facility lease expense and depreciation and amortization expense shown below)	$ 75,405	$ 71,700
General and administrative expenses	7,570	6,022
Facility lease expense	14,235	14,214
Stock-based compensation expense	(978)	1,949
Depreciation and amortization expense	15,974	15,372
Total expenses	112,206	109,257
Income from operations	1,970	5,386
Other income (expense):
Interest income	57	37
Interest expense	(12,564)	(12,451)
Write-down of assets held for sale	(2,340)
Gain on disposition of assets, net		3
Other income	23	1
Loss before provision for income taxes	(12,854)	(7,024)
Provision for income taxes	(130)	(132)
Net loss	$ (12,984)	$ (7,156)
Per share data:
Basic net loss per share	$ (0.43)	$ (0.24)
Diluted net loss per share	$ (0.43)	$ (0.24)
Weighted average shares outstanding — basic	30,102	29,627
Weighted average shares outstanding — diluted	30,102	29,627
Comprehensive loss	$ (12,984)	$ (7,156)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Deficit [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2017	$ 80,433	$ 310	$ 179,459	$ (95,906)	$ (3,430)
Beginning Balance, Shares at Dec. 31, 2017		30,505
Restricted stock awards (cancellations), net		$ 6	(6)
Restricted stock awards (cancellations), net, Shares		628
Stock-based compensation	1,949		1,949
Net loss	(7,156)			(7,156)
Ending Balance at Mar. 31, 2018	75,226	$ 316	181,402	(103,062)	(3,430)
Ending Balance, Shares at Mar. 31, 2018		31,133
Beginning Balance at Dec. 31, 2018	35,265	$ 318	187,879	(149,502)	(3,430)
Beginning Balance, Shares at Dec. 31, 2018		31,273
Adoption of ASC 842	12,636			12,636
Restricted stock awards (cancellations), net		$ (2)	2
Restricted stock awards (cancellations), net, Shares		(150)
Stock-based compensation	(978)		(978)
Net loss	(12,984)			(12,984)
Ending Balance at Mar. 31, 2019	$ 33,939	$ 316	$ 186,903	$ (149,850)	$ (3,430)
Ending Balance, Shares at Mar. 31, 2019		31,123

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Activities
Net loss	$ (12,984)	$ (7,156)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	15,974	15,372
Amortization of deferred financing charges	432	428
Amortization of deferred lease costs and lease intangibles		212
Amortization of lease incentives		(433)
Deferred income	(41)	(61)
Operating lease expense adjustment	(702)
Write-down of assets held for sale	2,340
Gain on disposition of assets, net		(3)
Provision for bad debts	805	459
Stock-based compensation expense	(978)	1,949
Changes in operating assets and liabilities:
Accounts receivable	(695)	(1,746)
Property tax and insurance deposits	4,586	5,025
Prepaid expenses and other	487	208
Other assets	482	508
Accounts payable	(6,894)	(4,257)
Accrued expenses	(3,674)	(6,705)
Other liabilities		526
Federal and state income taxes receivable/payable	153	190
Deferred resident revenue	(453)	(12)
Customer deposits	17	(62)
Net cash (used in) provided by operating activities	(1,145)	4,442
Investing Activities
Capital expenditures	(3,353)	(5,616)
Proceeds from disposition of assets		3
Net cash used in investing activities	(3,353)	(5,613)
Financing Activities
Repayments of notes payable	(4,333)	(5,723)
Cash payments for capital lease and financing obligations	(129)	(763)
Deferred financing charges paid	(143)	(42)
Net cash used in financing activities	(4,605)	(6,528)
Decrease in cash and cash equivalents	(9,103)	(7,699)
Cash and cash equivalents and restricted cash at beginning of period	44,320	31,024
Cash and cash equivalents and restricted cash at end of period	35,217	23,325
Cash paid during the period for:
Interest	11,167	11,897
Income taxes	$ 7	$ 15

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. BASIS OF PRESENTATION Capital Senior Living Corporation, a Delaware corporation (together with its subsidiaries, the “Company”), is one of the largest operators of senior housing communities in the United States in terms of resident capacity. The Company owns, operates, and manages senior housing communities throughout the United States. As of March 31, 2019, the Company operated 129 senior housing communities in 23 states with an aggregate capacity of approximately 16,500 residents, including 83 senior housing communities that the Company owned and 46 senior housing communities that the Company leased. The accompanying consolidated financial statements include the financial statements of Capital Senior Living Corporation and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. The accompanying Consolidated Balance Sheet, as of December 31, 2018, has been derived from audited consolidated financial statements of the Company for the year ended December 31, 2018, and the accompanying unaudited consolidated financial statements, as of and for the three month periods ended March 31, 2019 and 2018, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States have not been included pursuant to those rules and regulations. For further information, refer to the financial statements and notes thereto for the year ended December 31, 2018, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2019. In the opinion of the Company, the accompanying consolidated financial statements contain all adjustments (all of which were normal recurring accruals) necessary to present fairly the Company’s financial position as of March 31, 2019, results of operations for the three month periods ended March 31, 2019 and 2018, and cash flows for the three month periods ended March 31, 2019 and 2018. The results of operations for the three month period ended March 31, 2019 are not necessarily indicative of the results for the year ending December 31, 2019.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with original maturities of three months or less at the date of acquisition to be cash equivalents. The Company has deposits in banks that exceed Federal Deposit Insurance Corporation insurance limits. Management believes that credit risk related to these deposits is minimal. Restricted cash consists of deposits required by certain lenders as collateral pursuant to letters of credit. The deposits must remain so long as the letters of credit are outstanding which are subject to renewal annually. The following table sets forth our cash and cash equivalents and restricted cash (in thousands): Three Months Ended March 31, 2019 2018 Cash and cash equivalents $ 22,185 $ 9,938 Restricted cash 13,032 13,387 $ 35,217 $ 23,325 Assets Held for Sale Assets are classified as held for sale when the Company has determined all of the held-for-sale criteria have been met. The Company determines the fair value, net of costs of disposal, of an asset on the date the asset is categorized as held for sale, and the asset is recorded at the lower of its fair value, net of cost of disposal, or carrying value on that date. The Company periodically reevaluates assets held for sale to determine if the assets are still recorded at the lower of fair value, net of cost of disposal, or carrying value. The fair values are generally determined based on market rates, industry trends and recent comparable sales transactions. The actual sales price of these assets could differ significantly from the Company’s estimates. During the three months ended March 31, 2019, the Company classified one senior housing community located in Kokomo, Indiana, as held for sale, resulting in $4.9 million being reclassified as assets held for sale and $3.5 million of corresponding mortgage debt being reclassified to the current portion of notes payable within the Consolidated Balance Sheet. The Company determined, using level 2 inputs as defined in the accounting standards codification, that the assets had an aggregate fair value, net of costs of disposal of $4.9 million. As the fair value was less than the carrying value of $7.2 million, a remeasurement write-down of approximately $2.3 million was recorded to adjust the carrying values of the assets held for sale at March 31, 2019. There were no senior housing communities classified as held for sale by the Company at December 31, 2018. Revenue Recognition Resident revenue consists of fees for basic housing and certain support services and fees associated with additional housing and expanded support requirements such as assisted living care, memory care, and ancillary services. Basic housing and certain support services revenue is recorded when services are rendered and amounts billed are Residency agreements are generally short term in nature with durations of one year or less and are typically terminable by either party, under certain circumstances, upon providing 30 days’ notice, unless state law provides otherwise, with resident fees billed monthly in advance. Revenue for certain ancillary services is recognized as services are provided, and includes fees for services such as medication management, daily living activities, beautician/barber, laundry, television, guest meals, pets, and parking which are generally billed monthly in arrears and totaled approximately $1.0 million and $1.2 million for the three months ended March 31, 2019 and 2018, respectively, as a component of resident revenue within the Company’s Consolidated Statements of Operations and Comprehensive Loss. The Company's senior housing communities have residency agreements which generally require the resident to pay a community fee prior to moving into the community and are recorded initially by the Company as deferred revenue. At March 31, 2019 and December 31, 2018, the Company had contract liabilities for deferred community fees totaling approximately $1.0 million and $1.1 million, respectively, which are included as a component of deferred income within current liabilities of the Company’s Consolidated Balance Sheets. The Company recognized community fees as a component of resident revenue within the Company’s Consolidated Statements of Operations and Comprehensive Loss of approximately $0.6 million and $0.7 million, respectively, during the three months ended March 31, 2019 and 2018. Lease Accounting Effective January 1, 2019, the Company adopted the new lease standard provisions of ASC 842. Due to the adoption of ASC 842, the unamortized balances of lease acquisition costs and lease incentives were reclassified as a component of the respective operating lease right-of-use asset. Additionally, the unamortized balance of deferred gains associated with sale leaseback transactions totaling approximately $10.0 million was written-off to retained earnings. Management determines if a contract is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Operating lease right-of-use assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term on the lease commencement date. When the implicit lease rate is not determinable, management uses the Company’s incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future minimum lease payments. The expected lease terms include options to extend or terminate the lease when it is reasonably certain the Company will exercise such options. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease terms. Certain of the Company’s lease arrangements have lease and non-lease components. The Company accounts for the lease components and non-lease components as a single lease component for all classes of underlying assets. Leases with an expected lease term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term. Credit Risk and Allowance for Doubtful Accounts The Company’s resident receivables are generally due within 30 days from the date billed. Accounts receivable are reported net of an allowance for doubtful accounts of $7.3 million and $6.8 million at March 31, 2019, and December 31, 2018, respectively, and represent the Company’s estimate of the amount that ultimately will be collected. The adequacy of the Company’s allowance for doubtful accounts is reviewed on an ongoing basis, using historical payment trends, write-off experience, analyses of receivable portfolios by payor source and aging of receivables, as well as a review of specific accounts, and adjustments are made to the allowance as necessary. Credit losses on resident receivables have historically been within management’s estimates, and management believes that the allowance for doubtful accounts adequately provides for expected losses. Employee Health and Dental Benefits, Workers’ Compensation, and Insurance Reserves The Company offers certain full-time employees an option to participate in its health and dental plans. The Company is self-insured up to certain limits and is insured if claims in excess of these limits are incurred. The cost of employee health and dental benefits, net of employee contributions, is shared between the corporate office and the senior housing communities based on the respective number of plan participants. Funds collected are used to pay the actual program costs including estimated annual claims, third-party administrative fees, network provider fees, communication costs, and other related administrative costs incurred by the plans. Claims are paid as they are submitted to the Company’s third-party administrator. The Company records a liability for outstanding claims and claims that have been incurred but not yet reported. This liability is based on the historical claim reporting lag and payment trends of health insurance claims. Management believes that the liability for outstanding losses and expenses is adequate to cover the ultimate cost of losses and expenses incurred at March 31, 2019; however, actual claims and expenses may differ. Any subsequent changes in estimates are recorded in the period in which they are determined. The Company uses a combination of insurance and self-insurance for workers’ compensation. Determining the reserve for workers’ compensation losses and costs that the Company has incurred as of the end of a reporting period involves significant judgments based on projected future events including potential settlements for pending claims, known incidents which may result in claims, estimates of incurred but not yet reported claims, changes in insurance premiums, estimated litigation costs and other factors. The Company regularly adjusts these estimates to reflect changes in the foregoing factors. However, since this reserve is based on estimates, the actual expenses incurred may differ from the amounts reserved. Any subsequent changes in estimates are recorded in the period in which they are determined. Income Taxes Income taxes are computed using the asset and liability method and current income taxes are recorded based on amounts refundable or payable in the current year. The effective tax rates for the three months ended March 31, 2019 and 2018 differ from the statutory tax rates due to state income taxes, permanent tax differences, and changes in the deferred tax asset valuation allowance. The Company is impacted by the Texas Margin Tax (“TMT”), which effectively imposes tax on modified gross revenues for communities within the State of Texas. During each of the three months ended March 31, 2019 and 2018, the Company consolidated 38 Texas communities, and the TMT increased the overall provision for income taxes. Deferred income taxes are recorded based on the estimated future tax effects of loss carryforwards and temporary differences between financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply to taxable income in the years in which we expect those carryforwards and temporary differences to be recovered or settled. Management regularly evaluates the future realization of deferred tax assets and provides a valuation allowance, if considered necessary, based on such evaluation. As part of the evaluation, management has evaluated taxable income in carryback years, future reversals of taxable temporary differences, feasible tax planning strategies, and future expectations of income. Based upon this analysis, an adjustment to the valuation allowance of $2.9 million and $1.4 million was recorded during the first quarters of fiscal 2019 and 2018, respectively. The valuation allowance reduces the Company’s net deferred tax assets to the amount that is “more likely than not” (i.e., a greater than 50% likelihood) to be realized and resulted in net reductions of $49.2 million and $46.3 million to the Company’s deferred tax assets at March 31, 2019 and December 31, 2018, respectively. However, in the event that we were to determine that it would be more likely than not that the Company would realize the benefit of deferred tax assets in the future in excess of their net recorded amounts, adjustments to deferred tax assets would increase net income in the period such determination was made . The Company evaluates uncertain tax positions through consideration of accounting and reporting guidance on criteria, measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition that is intended to provide better financial statement comparability among different companies. The Company is required to recognize a tax benefit in its financial statements for an uncertain tax position only if management’s assessment is that such position is “more likely than not” to be upheld on audit based only on the technical merits of the tax position. The Company’s policy is to recognize interest related to unrecognized tax benefits as interest expense and penalties as income tax expense. The Company is generally no longer subject to federal and state tax audits for years prior to 2015. Net Loss Per Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Potentially dilutive securities consist of unvested restricted shares and shares that could be issued under outstanding stock options. Potentially dilutive securities are excluded from the computation of net loss per common share if their effect is antidilutive. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except for per share amounts): Three Months Ended March 31, 2019 2018 Net loss $ (12,984 ) $ (7,156 ) Net loss allocated to unvested restricted shares — — Undistributed net loss allocated to common shares $ (12,984 ) $ (7,156 ) Weighted average shares outstanding – basic 30,102 29,627 Effects of dilutive securities: Employee equity compensation plans — — Weighted average shares outstanding – diluted 30,102 29,627 Basic net loss per share – common shareholders $ (0.43 ) $ (0.24 ) Diluted net loss per share – common shareholders $ (0.43 ) $ (0.24 ) Awards of unvested restricted stock and restricted stock units representing approximately 984,000 shares and 147,000 stock options outstanding were antidilutive as a result of the net loss reported by the Company for the three months ended March 31, 2019. Awards of unvested restricted stock and restricted stock units representing approximately 1,379,000 shares outstanding were antidilutive as a result of the net loss reported by the Company for the three months ended March 31, 2018. Accordingly, such shares and options were not included in the calculation of diluted weighted average shares outstanding for the three months ended March 31, 2019 and 2018. Treasury Stock The Company accounts for treasury stock under the cost method and includes treasury stock as a component of stockholders’ equity. All shares acquired by the Company have been purchased in open-market transactions. There were no repurchases of the Company’s common stock during the three months ended March 31, 2019 or fiscal 2018. Recently Issued Accounting Guidance In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases Leases, Targeted Improvements The fair value of the right-of-use assets were estimated, utilizing a discounted cash flow approach based upon historical and projected cash flows and market data, including management fees and a market supported lease coverage ratio. The estimated future cash flows were discounted at a rate that is consistent with a weighted average cost of capital from a market participant perspective. The adoption of ASC 842 resulted in the following adjustments to the Company’s Consolidated Balance Sheet at January 1, 2019: Assets Prepaid expenses and other $ (2,050) Property and equipment, net (15,569) Operating lease right-of-use assets, net 255,386 Other assets, net (4,715) Total assets $ 233,052 Liabilities and Shareholder’s Equity Deferred income $ (17,498) Financing obligations (35,956) Operating lease liabilities 289,513 Other long-term liabilities (15,643) Total liabilities $ 220,416 Total shareholder’s equity $ 12,636

Debt Transactions

Debt Transactions	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt Transactions	3 . DEBT TRANSACTIONS Effective March 10, 2019, the Company exercised its option to extend its interest-only variable interest rate mortgage loan with Compass Bank on four of its senior housing communities (Cottonwood Village, Georgetowne Place, Harrison at Eagle Valley, and Rose Arbor). The maturity date was extended from February 10, 2020, to May 11, 2020. The Company previously issued standby letters of credit with Wells Fargo Bank (“Wells Fargo”), totaling approximately $3.4 million, for the benefit of Hartford Financial Services (“Hartford”) in connection with the administration of workers’ compensation which remain outstanding as of March 31, 2019. The Company previously issued standby letters of credit with JP Morgan Chase Bank (“Chase”), totaling approximately $6.7 million, for the benefit of Welltower, Inc. (“Welltower”), in connection with certain leases between Welltower and the Company which remain outstanding as of March 31, 2019. The Company previously issued standby letters of credit with Chase, totaling approximately $2.9 million, for the benefit of HCP, Inc. (“HCP”) in connection with certain leases between HCP and the Company which remain outstanding as of March 31, 2019. The senior housing communities owned by the Company and encumbered by mortgage debt are provided as collateral under their respective loan agreements. At March 31, 2019 and December 31, 2018, these communities carried a total net book value of approximately $948.0 million and $966.9 million, respectively, with total mortgage loans outstanding, excluding deferred loan costs, of approximately $978.0 million and $981.6 million, respectively. In connection with the Company’s loan commitments described above, the Company incurred financing charges that were deferred and amortized over the terms of the respective notes. At March 31, 2019 and December 31, 2018, the Company had gross deferred loan costs of approximately $14.2 million and $14.1 million, respectively. Accumulated amortization was approximately $5.1 million and $4.7 million at March 31, 2019 and December 31, 2018, respectively. The Company was in compliance with all aspects of its outstanding indebtedness at March 31, 2019 and December 31, 2018.

Equity

Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Equity	4 . EQUITY Preferred Stock The Company is authorized to issue preferred stock in series and to fix and state the voting powers and such designations, preferences and relative participating, optional or other special rights of the shares of each such series and the qualifications, limitations and restrictions thereof. Such action may be taken by the Company’s board of directors without stockholder approval. The rights, preferences and privileges of holders of common stock are subject to the rights of the holders of preferred stock. No preferred stock was outstanding as of March 31, 2019 or December 31, 2018. Share Repurchases On January 22, 2009, the Company’s board of directors approved a share repurchase program that authorized the Company to purchase up to $10.0 million of the Company’s common stock. Purchases may be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or block trades, or by any combination of such methods, in accordance with applicable insider trading and other securities laws and regulations. The size, scope and timing of any purchases will be based on business, market and other conditions and factors, including price, regulatory and contractual requirements or consents, and capital availability. The repurchase program does not obligate the Company to acquire any particular amount of common stock and the share repurchase authorization has no stated expiration date. Shares of stock repurchased under the program will be held as treasury shares. Pursuant to this authorization, during fiscal 2009, the Company purchased 349,800 shares at an average cost of $2.67 per share for a total cost to the Company of approximately $0.9 million. On January 14, 2016, the Company announced that its board of directors approved a continuation of the share repurchase program. Pursuant to this authorization, during the first quarter of fiscal 2016, the Company purchased 144,315 shares of its common stock at an average cost of $17.29 per share for a total cost to the Company of approximately $2.5 million. All such purchases were made in open market transactions. The Company has not purchased any additional shares of its common stock pursuant to the Company’s share repurchase program during the three months ended March 31, 2019 or fiscal 2018.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	5. STOCK-BASED COMPENSATION The Company recognizes compensation expense for share-based stock awards to certain employees and directors, including grants of employee stock options and awards of restricted stock, in the Company’s Consolidated Statements of Operations and Comprehensive Loss based on their fair values. On May 8, 2007, the Company’s stockholders approved the 2007 Omnibus Stock and Incentive Plan for Capital Senior Living Corporation (as amended, the “2007 Plan”), which provides for, among other things, the grant of restricted stock awards, restricted stock units and stock options to purchase shares of the Company’s common stock. The 2007 Plan authorizes the Company to issue up to 4.6 million shares of common stock and the Company has reserved shares of common stock for future issuance pursuant to awards under the 2007 Plan. Effective May 8, 2007, the 1997 Omnibus Stock and Incentive Plan (as amended, the “1997 Plan”) was terminated and no additional shares will be granted under the 1997 Plan. In March 2019, the Company’s Board of Directors approved the 2019 Omnibus Stock and Incentive Plan for Capital Senior Living Corporation (the “2019 Plan”), which, subject to stockholder approval, will replace the 2007 Plan. A description of the terms and conditions of the 2019 Plan is set forth in “Proposal 4—Approval of the Capital Senior Living Corporation 2019 Omnibus Stock and Incentive Plan” beginning on page 62 of the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on April 8, 2019 relating to the Company’s 2019 annual meeting of stockholders. Stock Options T he Company may periodically grant stock options as a long-term retention tool that is intended to attract, retain and provide incentives for employees, officers and directors and to more closely align stockholder interests with those of our employees and directors. The Company’s stock options generally vest over a period of one to five years and the related expense is amortized on a straight-line basis over the vesting period. Outstanding at Beginning of Period Granted Vested Cancelled Outstanding at End of Period Options — 147,239 — — 147,239 The options outstanding at March 31, 2019 had no intrinsic value, a weighted-average remaining contractual life of 9.75 years, and a weighted average exercise price of $7.46. None of the options outstanding at March 31, 2019 were exercisable. The Company used the Black-Scholes option pricing model to estimate the grant date fair value of its stock options. The Black-Scholes model requires the input of certain assumptions including expected volatility, expected dividend yield, expected life of the option and the risk-free interest rate. The expected volatility used by the Company is based primarily on an analysis of historical prices of the Company’s common stock. The expected term of options granted is based primarily on historical exercise patterns on the Company’s outstanding stock options. The risk-free rate is based on zero-coupon U.S. Treasury yields in effect at the date of grant with the same period as the expected option life. The Company does not expect to pay dividends on its common stock, and therefore, has used a dividend yield of zero in determining the fair value of its awards. The option forfeiture rate assumption used by the Company, which affects the expense recognized as opposed to the fair value of the award, is based primarily on the Company’s historical option forfeiture patterns. The following table presents the Company’s assumptions utilized to estimate the grant date fair value of stock options granted during the three months ended March 31, 2019: Three Months Ended March 31, 2019 Expected volatility 37.0% Expected dividend yield 0.0% Expected term in years 6.0 Risk free rate 2.55% Expected forfeiture rate 0.0% Restricted Stock The Company periodically grants restricted stock awards and units to employees, officers, and directors in order to attract, retain, and provide incentives for such individuals and to more closely align stockholder and employee interests. For restricted stock awards and units without performance and market-based vesting conditions, the Company records compensation expense for the entire award on a straight-line basis over the requisite service period, which is generally a period of one to four years, unless the award is subject to certain accelerated vesting requirements. Restricted stock awards are considered outstanding at the time of grant since the holders thereof are entitled to dividends, upon vesting, and voting rights. For restricted stock awards with performance and market-based vesting conditions, total compensation expense is recognized over the requisite service period for each separately vesting tranche of the award as if the award is, in substance, multiple awards once the performance target is deemed probable of achievement. Performance goals are evaluated periodically, and if such goals are not ultimately met or it is not probable the goals will be achieved, no compensation expense is recognized and any previously recognized compensation expense is reversed for performance-based awards. The Company recognizes compensation expense of a restricted stock award over its respective vesting or performance period based on the fair value of the award on the grant date, net of actual forfeitures. A summary of the Company’s restricted stock awards activity and related information for the three months ended March 31, 2019 is presented below: Outstanding at Beginning of Period Granted Vested Cancelled Outstanding at End of Period Shares 1,345,159 229,408 (320,569 ) (378,691 ) 875,307 The restricted stock outstanding at March 31, 2019 had an intrinsic value of approximately $3.5 million. During the three months ended March 31, 2019, the Company awarded 229,408 shares of restricted common stock to certain employees and directors of the Company, of which 147,239 shares were subject to performance and market-based vesting conditions. The average market value of the common stock on the date of grant was $6.23. These awards of restricted stock vest over a one to four-year period and had an intrinsic value of approximately $1.4 million on the date of grant. The Company recognized $(1.0 million) and $1.9 million in stock-based compensation expense during the three months ended March 31, 2019 and 2018, respectively, which primarily is associated with employees whose corresponding salaries and wages are included within general and administrative expenses within the Company’s Consolidated Statements of Operations and Comprehensive Loss. The credit balance in stock-based compensation expense for the three months ended March 31, 2019, primarily results from the full reversal of stock compensation expense previously recognized by the Company due to stock award cancellations for the retirement and separation of certain members of executive management and the Company concluding certain performance metrics associated with performance-based restricted stock awards was no longer probable of achievement. Unrecognized stock-based compensation expense was $6.8 million as of March 31, 2019. If all awards granted are earned, the Company expects this expense to be recognized over a one to three-year period for performance and market-based stock awards and a one to four-year period for nonperformance-based stock awards, options and units.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Contingencies	6. CONTINGENCIES The Company has claims incurred in the normal course of its business. Most of these claims are believed by management to be covered by insurance, subject to normal reservations of rights by the insurance companies and possibly subject to certain exclusions in the applicable insurance policies. Whether or not covered by insurance, these claims, in the opinion of management, based on advice of legal counsel, should not have a material effect on the consolidated financial statements of the Company if determined adversely to the Company. The Company had two of its senior housing communities located in southeast Texas impacted by Hurricane Harvey during the third quarter of fiscal 2017. We maintain insurance coverage on these communities which includes damage caused by flooding. The insurance claim for this incident required a deductible of $100,000 that was expensed as a component of operating expenses in the Company’s Consolidated Statement of Operations and Comprehensive Loss in the third quarter of fiscal 2017. Physical repairs have been substantially completed to restore the communities to their condition prior to the incident and these communities reopened and began accepting residents in July 2018. Through March 31, 2019, we have incurred approximately $6.8 million in clean-up and physical repair costs which we believe most are probable of being recovered through insurance proceeds. In addition to the repairs of physical damage to the buildings, the Company’s insurance coverage includes loss of business income (“Business Interruption”) through one year after the buildings were placed back in service. Business Interruption includes reimbursement for lost revenue as well as incremental expenses incurred as a result of the hurricane. As of March 31, 2019, the Company has received payments from our insurance underwriters totaling approximately $12.9 million of which approximately $8.6 million related to Business Interruption. During the three month periods ended March 31, 2019 and 2018, the Company recognized $1.2 million and $1.6 million, respectively, of Business Interruption which has been included as a reduction to operating expenses in the Company’s Consolidated Statements of Operations and Comprehensive Loss.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	7. FAIR VALUE MEASUREMENTS Financial Instruments The carrying amounts and fair values of financial instruments at March 31, 2019 and December 31, 2018, are as follows (in thousands): March 31, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents $ 22,185 $ 22,185 $ 31,309 $ 31,309 Restricted cash 13,032 13,032 13,011 13,011 Notes payable, excluding deferred loan costs 978,874 945,364 983,207 945,318 The following methods and assumptions were used in estimating the Company’s fair value disclosures for financial instruments: Cash and cash equivalents and Restricted cash: The carrying amounts reported in the Company’s Consolidated Balance Sheets for cash and cash equivalents and restricted cash approximate fair value, which represent level 1 inputs as defined in the accounting standards codification. Notes payable: The fair value of notes payable is estimated using discounted cash flow analysis, based on current incremental borrowing rates for similar types of borrowing arrangements, which represent level 2 inputs as defined in the accounting standards codification. Assets Held for Sale During the three months ended March 31, 2019, the Company classified one senior living community as held for sale and determined a remeasurement write-down of approximately $2.3 million was required to adjust the carrying value to its fair value, net of cost of disposal. The Company determines, using level 2 inputs as defined in the accounting standards codification, the fair value, net of costs of disposal, of an asset on the date the asset is categorized as held for sale, and the asset is recorded at the lower of its fair value, net of cost of disposal, or carrying value on that date. The Company periodically reevaluates assets held for sale to determine if the assets are still recorded at the lower of fair value, net of cost of disposal, or carrying value. The fair values are generally determined based on market rates, industry trends and recent comparable sales transactions. The actual sales price of these assets could differ significantly from the Company’s estimates. Operating Lease Right-Of-Use Assets The Company’s adoption of ASC 842 on January 1, 2019, resulted in the recognition of operating lease right-of-use assets which were determined not fully recoverable and required impairment write-down adjustments of approximately $17.8 million recorded directly to retained deficit. The fair value of the right-of-use assets were estimated, using level 3 inputs as defined in the accounting standards codification, utilizing a discounted cash flow approach based upon historical and projected cash flows and market data, including management fees and a market supported lease coverage ratio. The estimated future cash flows were discounted at a rate that is consistent with a weighted average cost of capital from a market participant perspective. The estimated fair value of these assets and liabilities could be affected by market changes and this effect could be material.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	8. LEASES Management determines if a contract is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Operating lease right-of-use assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term on the lease commencement date. When the implicit lease rate is not determinable, management uses the Company’s incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future minimum lease payments. The expected lease terms include options to extend or terminate the lease when it is reasonably certain the Company will exercise such options. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease terms. Certain of the Company’s lease arrangements have lease and non-lease components. The Company accounts for the lease components and non-lease components as a single lease component for all classes of underlying assets. Leases with an expected lease term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term. The Company has operating leases for various real estate (primarily senior housing communities) and equipment. As of March 31, 2019, the Company leased 46 senior housing communities from certain real estate investment trusts (“REITs”). Under these facility lease agreements, the Company is responsible for all operating costs, maintenance and repairs, insurance and property taxes. Additionally, facility leases include variable lease payments due to contingent rent increases when certain operational performance thresholds are surpassed. Most of the Company’s lease agreements include one or more options to renew, with renewal terms that can extend the lease term for an additional one to 20 years at the Company’s option. The recoverability of assets and depreciable life of leasehold improvements are limited by expected lease terms. There are various financial covenants and other restrictions in the Company’s lease agreements. The Company’s lease agreements do not contain any material residual value guarantees. The Company was in compliance with all of its lease covenants at March 31, 2019 and December 31, 2018. Lease term and discount rate: Weighted-average remaining lease term (years) 6.26 Weighted-average discount rate 7.73% Operating lease cost classification (in thousands): Facility lease expense $ 14,235 General and administrative expenses 150 Operating expenses 81 Total operating lease costs $ 14,466 Future minimum lease payments associated with operating lease labilities recognized on the Company’s Consolidated Balance Sheet as of March 31, 2019, are as follows (in thousands): 2019 (excluding the three months ended March 31, 2019) $ 48,244 2020 61,749 2021 49,802 2022 49,731 2023 49,695 Thereafter 93,138 Total $ 352,359 Less: Amount representing interest (present value discount) 72,505 Present value of operating lease liabilities $ 279,854 Less: Current portion of operating lease liabilities 44,623 Operating lease liabilities, net of current portion $ 235,231

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	9. SUBSEQUENT EVENTS Effective May 1, 2019, the Company closed the sale of one senior housing community located in Kokomo, Indiana for a total purchase price of $5.0 million and received approximately $1.4 million in net proceeds after retiring the debt associated with the community and paying customary transaction and closing costs. The community was comprised of 138 assisted living units.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with original maturities of three months or less at the date of acquisition to be cash equivalents. The Company has deposits in banks that exceed Federal Deposit Insurance Corporation insurance limits. Management believes that credit risk related to these deposits is minimal. Restricted cash consists of deposits required by certain lenders as collateral pursuant to letters of credit. The deposits must remain so long as the letters of credit are outstanding which are subject to renewal annually. The following table sets forth our cash and cash equivalents and restricted cash (in thousands): Three Months Ended March 31, 2019 2018 Cash and cash equivalents $ 22,185 $ 9,938 Restricted cash 13,032 13,387 $ 35,217 $ 23,325
Assets Held for Sale	Assets Held for Sale Assets are classified as held for sale when the Company has determined all of the held-for-sale criteria have been met. The Company determines the fair value, net of costs of disposal, of an asset on the date the asset is categorized as held for sale, and the asset is recorded at the lower of its fair value, net of cost of disposal, or carrying value on that date. The Company periodically reevaluates assets held for sale to determine if the assets are still recorded at the lower of fair value, net of cost of disposal, or carrying value. The fair values are generally determined based on market rates, industry trends and recent comparable sales transactions. The actual sales price of these assets could differ significantly from the Company’s estimates. During the three months ended March 31, 2019, the Company classified one senior housing community located in Kokomo, Indiana, as held for sale, resulting in $4.9 million being reclassified as assets held for sale and $3.5 million of corresponding mortgage debt being reclassified to the current portion of notes payable within the Consolidated Balance Sheet. The Company determined, using level 2 inputs as defined in the accounting standards codification, that the assets had an aggregate fair value, net of costs of disposal of $4.9 million. As the fair value was less than the carrying value of $7.2 million, a remeasurement write-down of approximately $2.3 million was recorded to adjust the carrying values of the assets held for sale at March 31, 2019. There were no senior housing communities classified as held for sale by the Company at December 31, 2018.
Revenue Recognition	Revenue Recognition Resident revenue consists of fees for basic housing and certain support services and fees associated with additional housing and expanded support requirements such as assisted living care, memory care, and ancillary services. Basic housing and certain support services revenue is recorded when services are rendered and amounts billed are Residency agreements are generally short term in nature with durations of one year or less and are typically terminable by either party, under certain circumstances, upon providing 30 days’ notice, unless state law provides otherwise, with resident fees billed monthly in advance. Revenue for certain ancillary services is recognized as services are provided, and includes fees for services such as medication management, daily living activities, beautician/barber, laundry, television, guest meals, pets, and parking which are generally billed monthly in arrears and totaled approximately $1.0 million and $1.2 million for the three months ended March 31, 2019 and 2018, respectively, as a component of resident revenue within the Company’s Consolidated Statements of Operations and Comprehensive Loss. The Company's senior housing communities have residency agreements which generally require the resident to pay a community fee prior to moving into the community and are recorded initially by the Company as deferred revenue. At March 31, 2019 and December 31, 2018, the Company had contract liabilities for deferred community fees totaling approximately $1.0 million and $1.1 million, respectively, which are included as a component of deferred income within current liabilities of the Company’s Consolidated Balance Sheets. The Company recognized community fees as a component of resident revenue within the Company’s Consolidated Statements of Operations and Comprehensive Loss of approximately $0.6 million and $0.7 million, respectively, during the three months ended March 31, 2019 and 2018.
Lease Accounting	Lease Accounting Effective January 1, 2019, the Company adopted the new lease standard provisions of ASC 842. Due to the adoption of ASC 842, the unamortized balances of lease acquisition costs and lease incentives were reclassified as a component of the respective operating lease right-of-use asset. Additionally, the unamortized balance of deferred gains associated with sale leaseback transactions totaling approximately $10.0 million was written-off to retained earnings. Management determines if a contract is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Operating lease right-of-use assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term on the lease commencement date. When the implicit lease rate is not determinable, management uses the Company’s incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future minimum lease payments. The expected lease terms include options to extend or terminate the lease when it is reasonably certain the Company will exercise such options. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease terms. Certain of the Company’s lease arrangements have lease and non-lease components. The Company accounts for the lease components and non-lease components as a single lease component for all classes of underlying assets. Leases with an expected lease term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term.
Credit Risk and Allowance for Doubtful Accounts	Credit Risk and Allowance for Doubtful Accounts The Company’s resident receivables are generally due within 30 days from the date billed. Accounts receivable are reported net of an allowance for doubtful accounts of $7.3 million and $6.8 million at March 31, 2019, and December 31, 2018, respectively, and represent the Company’s estimate of the amount that ultimately will be collected. The adequacy of the Company’s allowance for doubtful accounts is reviewed on an ongoing basis, using historical payment trends, write-off experience, analyses of receivable portfolios by payor source and aging of receivables, as well as a review of specific accounts, and adjustments are made to the allowance as necessary. Credit losses on resident receivables have historically been within management’s estimates, and management believes that the allowance for doubtful accounts adequately provides for expected losses.
Employee Health and Dental Benefits, Workers' Compensation, and Insurance Reserves	Employee Health and Dental Benefits, Workers’ Compensation, and Insurance Reserves The Company offers certain full-time employees an option to participate in its health and dental plans. The Company is self-insured up to certain limits and is insured if claims in excess of these limits are incurred. The cost of employee health and dental benefits, net of employee contributions, is shared between the corporate office and the senior housing communities based on the respective number of plan participants. Funds collected are used to pay the actual program costs including estimated annual claims, third-party administrative fees, network provider fees, communication costs, and other related administrative costs incurred by the plans. Claims are paid as they are submitted to the Company’s third-party administrator. The Company records a liability for outstanding claims and claims that have been incurred but not yet reported. This liability is based on the historical claim reporting lag and payment trends of health insurance claims. Management believes that the liability for outstanding losses and expenses is adequate to cover the ultimate cost of losses and expenses incurred at March 31, 2019; however, actual claims and expenses may differ. Any subsequent changes in estimates are recorded in the period in which they are determined. The Company uses a combination of insurance and self-insurance for workers’ compensation. Determining the reserve for workers’ compensation losses and costs that the Company has incurred as of the end of a reporting period involves significant judgments based on projected future events including potential settlements for pending claims, known incidents which may result in claims, estimates of incurred but not yet reported claims, changes in insurance premiums, estimated litigation costs and other factors. The Company regularly adjusts these estimates to reflect changes in the foregoing factors. However, since this reserve is based on estimates, the actual expenses incurred may differ from the amounts reserved. Any subsequent changes in estimates are recorded in the period in which they are determined.
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method and current income taxes are recorded based on amounts refundable or payable in the current year. The effective tax rates for the three months ended March 31, 2019 and 2018 differ from the statutory tax rates due to state income taxes, permanent tax differences, and changes in the deferred tax asset valuation allowance. The Company is impacted by the Texas Margin Tax (“TMT”), which effectively imposes tax on modified gross revenues for communities within the State of Texas. During each of the three months ended March 31, 2019 and 2018, the Company consolidated 38 Texas communities, and the TMT increased the overall provision for income taxes. Deferred income taxes are recorded based on the estimated future tax effects of loss carryforwards and temporary differences between financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply to taxable income in the years in which we expect those carryforwards and temporary differences to be recovered or settled. Management regularly evaluates the future realization of deferred tax assets and provides a valuation allowance, if considered necessary, based on such evaluation. As part of the evaluation, management has evaluated taxable income in carryback years, future reversals of taxable temporary differences, feasible tax planning strategies, and future expectations of income. Based upon this analysis, an adjustment to the valuation allowance of $2.9 million and $1.4 million was recorded during the first quarters of fiscal 2019 and 2018, respectively. The valuation allowance reduces the Company’s net deferred tax assets to the amount that is “more likely than not” (i.e., a greater than 50% likelihood) to be realized and resulted in net reductions of $49.2 million and $46.3 million to the Company’s deferred tax assets at March 31, 2019 and December 31, 2018, respectively. However, in the event that we were to determine that it would be more likely than not that the Company would realize the benefit of deferred tax assets in the future in excess of their net recorded amounts, adjustments to deferred tax assets would increase net income in the period such determination was made . The Company evaluates uncertain tax positions through consideration of accounting and reporting guidance on criteria, measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition that is intended to provide better financial statement comparability among different companies. The Company is required to recognize a tax benefit in its financial statements for an uncertain tax position only if management’s assessment is that such position is “more likely than not” to be upheld on audit based only on the technical merits of the tax position. The Company’s policy is to recognize interest related to unrecognized tax benefits as interest expense and penalties as income tax expense. The Company is generally no longer subject to federal and state tax audits for years prior to 2015.
Net Loss Per Share	Net Loss Per Share Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Potentially dilutive securities consist of unvested restricted shares and shares that could be issued under outstanding stock options. Potentially dilutive securities are excluded from the computation of net loss per common share if their effect is antidilutive. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except for per share amounts): Three Months Ended March 31, 2019 2018 Net loss $ (12,984 ) $ (7,156 ) Net loss allocated to unvested restricted shares — — Undistributed net loss allocated to common shares $ (12,984 ) $ (7,156 ) Weighted average shares outstanding – basic 30,102 29,627 Effects of dilutive securities: Employee equity compensation plans — — Weighted average shares outstanding – diluted 30,102 29,627 Basic net loss per share – common shareholders $ (0.43 ) $ (0.24 ) Diluted net loss per share – common shareholders $ (0.43 ) $ (0.24 ) Awards of unvested restricted stock and restricted stock units representing approximately 984,000 shares and 147,000 stock options outstanding were antidilutive as a result of the net loss reported by the Company for the three months ended March 31, 2019. Awards of unvested restricted stock and restricted stock units representing approximately 1,379,000 shares outstanding were antidilutive as a result of the net loss reported by the Company for the three months ended March 31, 2018. Accordingly, such shares and options were not included in the calculation of diluted weighted average shares outstanding for the three months ended March 31, 2019 and 2018.
Treasury Stock	Treasury Stock The Company accounts for treasury stock under the cost method and includes treasury stock as a component of stockholders’ equity. All shares acquired by the Company have been purchased in open-market transactions. There were no repurchases of the Company’s common stock during the three months ended March 31, 2019 or fiscal 2018.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases Leases, Targeted Improvements The fair value of the right-of-use assets were estimated, utilizing a discounted cash flow approach based upon historical and projected cash flows and market data, including management fees and a market supported lease coverage ratio. The estimated future cash flows were discounted at a rate that is consistent with a weighted average cost of capital from a market participant perspective. The adoption of ASC 842 resulted in the following adjustments to the Company’s Consolidated Balance Sheet at January 1, 2019: Assets Prepaid expenses and other $ (2,050) Property and equipment, net (15,569) Operating lease right-of-use assets, net 255,386 Other assets, net (4,715) Total assets $ 233,052 Liabilities and Shareholder’s Equity Deferred income $ (17,498) Financing obligations (35,956) Operating lease liabilities 289,513 Other long-term liabilities (15,643) Total liabilities $ 220,416 Total shareholder’s equity $ 12,636

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	The following table sets forth our cash and cash equivalents and restricted cash (in thousands): Three Months Ended March 31, 2019 2018 Cash and cash equivalents $ 22,185 $ 9,938 Restricted cash 13,032 13,387 $ 35,217 $ 23,325
Computation of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share (in thousands, except for per share amounts): Three Months Ended March 31, 2019 2018 Net loss $ (12,984 ) $ (7,156 ) Net loss allocated to unvested restricted shares — — Undistributed net loss allocated to common shares $ (12,984 ) $ (7,156 ) Weighted average shares outstanding – basic 30,102 29,627 Effects of dilutive securities: Employee equity compensation plans — — Weighted average shares outstanding – diluted 30,102 29,627 Basic net loss per share – common shareholders $ (0.43 ) $ (0.24 ) Diluted net loss per share – common shareholders $ (0.43 ) $ (0.24 )
Adjustments to Company's Consolidated Balance upon Adoption of ASC 842	The adoption of ASC 842 resulted in the following adjustments to the Company’s Consolidated Balance Sheet at January 1, 2019: Assets Prepaid expenses and other $ (2,050) Property and equipment, net (15,569) Operating lease right-of-use assets, net 255,386 Other assets, net (4,715) Total assets $ 233,052 Liabilities and Shareholder’s Equity Deferred income $ (17,498) Financing obligations (35,956) Operating lease liabilities 289,513 Other long-term liabilities (15,643) Total liabilities $ 220,416 Total shareholder’s equity $ 12,636

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Activity and Related Information	A summary of the Company’s stock option activity and related information for the three months ended March 31, 2019 is presented below: Outstanding at Beginning of Period Granted Vested Cancelled Outstanding at End of Period Options — 147,239 — — 147,239
Summary of Assumptions Utilized to Estimate Grant Date Fair Value of Stock Options	The following table presents the Company’s assumptions utilized to estimate the grant date fair value of stock options granted during the three months ended March 31, 2019: Three Months Ended March 31, 2019 Expected volatility 37.0% Expected dividend yield 0.0% Expected term in years 6.0 Risk free rate 2.55% Expected forfeiture rate 0.0%
Restricted Common Stock Awards Activity and Related Information	A summary of the Company’s restricted stock awards activity and related information for the three months ended March 31, 2019 is presented below: Outstanding at Beginning of Period Granted Vested Cancelled Outstanding at End of Period Shares 1,345,159 229,408 (320,569 ) (378,691 ) 875,307

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of financial instruments at March 31, 2019 and December 31, 2018, are as follows (in thousands): March 31, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents $ 22,185 $ 22,185 $ 31,309 $ 31,309 Restricted cash 13,032 13,032 13,011 13,011 Notes payable, excluding deferred loan costs 978,874 945,364 983,207 945,318

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Summary of Information Related to Lease Activities	Lease term and discount rate: Weighted-average remaining lease term (years) 6.26 Weighted-average discount rate 7.73% Operating lease cost classification (in thousands): Facility lease expense $ 14,235 General and administrative expenses 150 Operating expenses 81 Total operating lease costs $ 14,466
Future Minimum Lease Payments of Operating Lease Liabilities	Future minimum lease payments associated with operating lease labilities recognized on the Company’s Consolidated Balance Sheet as of March 31, 2019, are as follows (in thousands): 2019 (excluding the three months ended March 31, 2019) $ 48,244 2020 61,749 2021 49,802 2022 49,731 2023 49,695 Thereafter 93,138 Total $ 352,359 Less: Amount representing interest (present value discount) 72,505 Present value of operating lease liabilities $ 279,854 Less: Current portion of operating lease liabilities 44,623 Operating lease liabilities, net of current portion $ 235,231

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	Mar. 31, 2019CommunityStateResident
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Senior housing communities operated by company	129
Number of states in which senior housing communities operated | State	23
Aggregate capacity of residents in company operated senior housing communities | Resident	16,500
Senior housing communities owned by company	83
Senior housing communities on lease by company	46

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 22,185	$ 31,309	$ 9,938
Restricted cash	13,032	13,011	13,387
Total Cash and cash equivalents and Restricted cash	$ 35,217	$ 44,320	$ 23,325	$ 31,024

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	Jan. 01, 2019USD ($)	Mar. 31, 2019USD ($)Communityshares	Mar. 31, 2018USD ($)Communityshares	Mar. 31, 2016shares	Dec. 31, 2018USD ($)Communityshares	Dec. 31, 2009shares
Accounting Policies [Line Items]
Number of assets held for sale | Community		1			0
Assets held for sale		$ 4,850
Current portion of notes payable		17,044			$ 14,342
Remeasurement write-down of assets held for sale		2,340
Change in aggregate assets fair value net of costs of disposal		7,200
Resident revenue		114,176	$ 114,643
Contract liabilities for deferred fees recognized into revenue		4,500	3,900
Contract liabilities for deferred fees included as deferred income		4,000			4,500
Contract liabilities for deferred community fees included in current liabilities		$ 1,319			1,302
Resident receivables due period		30 days
Allowance for doubtful accounts		$ 7,300			$ 6,800
Adjustments to valuation allowance		$ 2,900	$ 1,400
Uncertain tax position maximum percentage		50.00%
Repurchase of common stock | shares		0	0	144,315	0	349,800
Operating lease right-of-use assets, net		$ 246,430
Operating lease liabilities		$ 279,854
Unvested Restricted Stock and Restricted Stock Units [Member]
Accounting Policies [Line Items]
Antidilutive shares and options not included in calculation of diluted weighted average shares outstanding | shares		984,000	1,379,000
Stock Options [Member]
Accounting Policies [Line Items]
Antidilutive shares and options not included in calculation of diluted weighted average shares outstanding | shares		147,000
Valuation Allowance, Operating Loss Carryforwards [Member]
Accounting Policies [Line Items]
Deferred tax assets valuation allowance		$ 49,200			$ 46,300
Texas [Member]
Accounting Policies [Line Items]
Number of communities consolidated | Community		38	38
ASC 842 [Member]
Accounting Policies [Line Items]
Deferred gains associated with sale leaseback transactions	$ 10,000
Operating lease right-of-use assets, net	255,386
Operating lease liabilities	289,513
Adoption of lease standards, description		The Company elected to utilize certain practical expedients permitted under the transition guidance within the new standard, which allowed the Company to carryforward the historical lease classification, not separate the lease and non-lease components for all classes of underlying assets in which it is the lessee, not reassess initial direst costs for existing leases, and make an accounting policy election not to account for leases with an initial term of 12 months or less on the balance sheet.
ASC 842 [Member] | Deferred Lease Costs and Lease Incentives [Member]
Accounting Policies [Line Items]
Change in accounting principle, effect of change on retained deficit	(16,300)
ASC 842 [Member] | Impairment Write-down Adjustments [Member]
Accounting Policies [Line Items]
Change in accounting principle, effect of change on retained deficit	$ (17,800)
Rental and Other Services [Member]
Accounting Policies [Line Items]
Resident revenue		$ 112,600	$ 112,700
Ancillary Services [Member]
Accounting Policies [Line Items]
Resident revenue		1,000	1,200
Community Fees [Member]
Accounting Policies [Line Items]
Resident revenue		600	$ 700
Contract liabilities for deferred community fees included in current liabilities		$ 1,000			$ 1,100
Maximum [Member]
Accounting Policies [Line Items]
Residency agreements duration period		1 year
Mortgage Debt [Member]
Accounting Policies [Line Items]
Current portion of notes payable		$ 3,500

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Computation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accounting Policies [Abstract]
Net loss	$ (12,984)	$ (7,156)
Net loss allocated to unvested restricted shares	0	0
Undistributed net loss allocated to common shares	$ (12,984)	$ (7,156)
Weighted average shares outstanding – basic	30,102	29,627
Effects of dilutive securities:
Employee equity compensation plans	0	0
Weighted average shares outstanding – diluted	30,102	29,627
Basic net loss per share – common shareholders	$ (0.43)	$ (0.24)
Diluted net loss per share – common shareholders	$ (0.43)	$ (0.24)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Adjustments to Company's Consolidated Balance upon Adoption of ASC 842 (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Prepaid expenses and other	$ 3,666		$ 5,232
Property and equipment, net	1,023,707		1,059,049
Operating lease right-of-use assets, net	246,430
Other assets, net	10,279		16,485
Total assets	1,343,509		1,149,144
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deferred income			8,151
Operating lease liabilities	279,854
Other long-term liabilities			15,643
Total shareholder’s equity	$ 33,939		$ 35,265	$ 75,226	$ 80,433
ASC 842 [Member]
ASSETS
Prepaid expenses and other		$ (2,050)
Property and equipment, net		(15,569)
Operating lease right-of-use assets, net		255,386
Other assets, net		(4,715)
Total assets		233,052
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deferred income		(17,498)
Financing obligations		(35,956)
Operating lease liabilities		289,513
Other long-term liabilities		(15,643)
Total liabilities		220,416
Total shareholder’s equity		$ 12,636

Debt Transactions - Additional

Debt Transactions - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)Community	Mar. 10, 2019Community	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Senior housing communities operated by company | Community	129
Net book value of housing communities	$ 948		$ 966.9
Mortgage debt	978		981.6
Deferred financing cost	14.2		14.1
Accumulated amortization	5.1		$ 4.7
Hartford Financial Services [Member]
Debt Instrument [Line Items]
Letters of credit remain outstanding	3.4
Welltower, Inc. [Member]
Debt Instrument [Line Items]
Letters of credit remain outstanding	6.7
HCP, Inc. [Member]
Debt Instrument [Line Items]
Letters of credit remain outstanding	$ 2.9
Compass Bank Mortgage Loan Facility [Member]
Debt Instrument [Line Items]
Senior housing communities operated by company | Community		4
Debt instrument maturity date	May 11, 2020

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($)	3 Months Ended			12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2009	Jan. 22, 2009
Equity [Abstract]
Preferred stock, shares outstanding	0			0
Authorization for purchase of company's common stock						$ 10,000,000
Purchase common stock shares	0	0	144,315	0	349,800
Average cost of per share			$ 17.29		$ 2.67
Purchase common stock value			$ 2,500,000		$ 900,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	May 08, 2007	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period, Minimum		1 year
Stock options vesting period, Maximum		5 years
Stock options outstanding, intrinsic value		$ 0
Stock options outstanding, weighted-average remaining contractual life		9 years 9 months
Stock options outstanding, weighted average exercise price		$ 7.46
Stock options outstanding, exercisable		0
Period of recognition for compensation expense, Minimum		1 year
Period of recognition for compensation expense, Maximum		4 years
Compensation expense recognized		$ 1,000,000	$ 1,900,000
Unrecognized stock based compensation expense, net of estimated forfeitures		6,800,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized		0
Restricted stock outstanding, intrinsic value		$ 3,500,000
Restricted common stock, Granted		229,408
Performance and market based restricted stock, Granted		147,239
Average market value of common stock awarded to certain employees and directors of company		$ 6.23
Restricted stock award vesting period, Minimum		1 year
Restricted stock award vesting period, Maximum		4 years
Restricted stock outstanding		$ 1,400,000
Performance and Market Based Stock Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected period of expenses		1 year
Performance and Market Based Stock Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected period of expenses		3 years
Nonperformance Based Stock Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected period of expenses		1 year
Nonperformance Based Stock Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected period of expenses		4 years
2007 Omnibus Stock and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares of common stock	4,600,000
1997 Omnibus Stock and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares granted under the plan	0

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity and Related Information (Detail)	3 Months Ended
	Mar. 31, 2019shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options, Outstanding at Beginning of Period	0
Options, Granted	147,239
Options, Vested	0
Options, Cancelled	0
Options, Outstanding at End of Period	147,239

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Assumptions Utilized to Estimate Grant Date Fair Value of Stock Options (Detail)	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected volatility	37.00%
Expected dividend yield	0.00%
Expected term in years	6 years
Risk free rate	2.55%
Expected forfeiture rate	0.00%

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Awards Activity and Related Information (Detail) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Outstanding at Beginning of Period	1,345,159
Shares, Granted	229,408
Shares, Vested	(320,569)
Shares, Cancelled	(378,691)
Shares, Outstanding End of Period	875,307

Contingencies - Additional Info

Contingencies - Additional Information (Detail)	3 Months Ended			9 Months Ended
	Mar. 31, 2019USD ($)Community	Mar. 31, 2018USD ($)	Sep. 30, 2017USD ($)Community	Mar. 31, 2019USD ($)Community
Loss Contingencies [Line Items]
Senior housing communities owned by company | Community	83			83
Hurricane related expenses deductible for insurance claim			$ 100,000
Clean-up and physical repair costs				$ 6,800,000
Payments received from insurance underwriters	$ 12,900,000
Business interruption insurance recoveries	8,600,000
Operating Expenses [Member]
Loss Contingencies [Line Items]
Business interruption insurance recoveries	$ 1,200,000	$ 1,600,000
Texas [Member]
Loss Contingencies [Line Items]
Senior housing communities owned by company | Community			2

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash	$ 13,032	$ 13,011	$ 13,387
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	22,185	31,309
Restricted cash	13,032	13,011
Notes payable, excluding deferred loan costs	978,874	983,207
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	22,185	31,309
Restricted cash	13,032	13,011
Notes payable, excluding deferred loan costs	$ 945,364	$ 945,318

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)Community	Dec. 31, 2018Community	Jan. 01, 2019USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of assets held for sale | Community	1	0
Remeasurement write-down of assets held for sale	$ 2,340
ASC 842 [Member] | Impairment Write-down Adjustments [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Change in accounting principle, effect of change on retained deficit			$ (17,800)

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019Community
Lessee Lease Description [Line Items]
Number of leased senior housing communities	46
Operating lease, existence of option to extend	true
Operating lease, options to extend	Most of the Company’s lease agreements include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years at the Company’s option.
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease, renewal term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease, renewal term	20 years

Leases - Summary of Information

Leases - Summary of Information Related to Lease Activities (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Lease term and discount rate:
Weighted-average remaining lease term (years)	6 years 3 months 3 days
Weighted-average discount rate	7.73%
Operating lease cost classification (in thousands):
Facility lease expense	$ 14,235
General and administrative expenses	150
Operating expenses	81
Total operating lease costs	$ 14,466

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments of Operating Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 48,244
2020	61,749
2021	49,802
2022	49,731
2023	49,695
Thereafter	93,138
Total	352,359
Less: Amount representing interest (present value discount)	72,505
Present value of operating lease liabilities	279,854
Current portion of operating lease liabilities	44,623
Operating lease liabilities, net of current portion	$ 235,231

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event [Member] - Senior Housing Community [Member] $ in Millions	May 01, 2019USD ($)Property
Subsequent Event [Line Items]
Purchase price for the sale of asset	$ 5
Net proceeds from sale of assets	$ 1.4
Number of living units in a housing community sold | Property	138