Sabra Health Care REIT (SBRA) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Cover page.
Document Type	10-Q
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Entity File Number	001-34950
Entity Registrant Name	SABRA HEALTH CARE REIT, INC.
Entity Central Index Key	0001492298
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-2560479
Entity Address, Address Line One	18500 Von Karman Avenue, Suite 550
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92612
City Area Code	888
Local Phone Number	393-8248
Title of 12(b) Security	Common stock, $.01 par value
Trading Symbol	SBRA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		189,515,024

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Real estate investments, net of accumulated depreciation of $464,970 and $402,338 as of June 30, 2019 and December 31, 2018, respectively	$ 5,378,874	$ 5,853,545
Loans receivable and other investments, net	111,203	113,722
Investment in unconsolidated joint venture	328,207	340,120
Cash and cash equivalents	47,595	50,230
Restricted cash	9,879	9,428
Lease intangible assets, net	108,877	131,097
Accounts receivable, prepaid expenses and other assets, net	138,544	167,161
Total assets	6,123,179	6,665,303
Liabilities
Secured debt, net	114,675	115,679
Revolving credit facility	275,000	624,000
Term loans, net	1,189,774	1,184,930
Senior unsecured notes, net	1,106,518	1,307,394
Accounts payable and accrued liabilities	100,635	94,827
Lease intangible liabilities, net	76,201	83,726
Total liabilities	2,862,803	3,410,556
Commitments and contingencies (Note 13)
Equity
Common stock, $.01 par value; 250,000,000 shares authorized, 189,515,024 and 178,306,528 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	1,895	1,783
Additional paid-in capital	3,725,971	3,507,925
Cumulative distributions in excess of net income	(460,832)	(271,595)
Accumulated other comprehensive (loss) income	(10,936)	12,301
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,256,098	3,250,414
Noncontrolling interests	4,278	4,333
Total equity	3,260,376	3,254,747
Total liabilities and equity	$ 6,123,179	$ 6,665,303

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Accumulated depreciation	$ 464,970	$ 402,338
Common stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	250,000,000	250,000,000
Shares issued (in shares)	189,515,024	178,306,528
Shares outstanding (in shares)	189,515,024	178,306,528

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Rental and related revenues	$ 112,800	$ 144,229	$ 229,187	$ 288,484
Interest and other income	70,495	4,553	73,820	8,891
Resident fees and services	36,071	17,530	53,132	35,023
Total revenues	219,366	166,312	356,139	332,398
Expenses:
Depreciation and amortization	49,476	46,828	94,425	94,833
Interest	33,608	36,757	69,926	72,575
General and administrative	8,059	9,383	16,243	17,580
Provision for (recovery of) doubtful accounts, straight-line rental income and loan losses	193	(674)	1,400	539
Impairment of real estate	2,002	881	105,136	1,413
Total expenses	123,817	105,474	334,938	211,363
Other (expense) income:
Loss on extinguishment of debt	(10,119)	0	(10,119)	0
Other (expense) income	(1)	0	170	2,820
Net gain on sales of real estate	2,755	142,903	1,235	142,431
Total other (expense) income	(7,365)	142,903	(8,714)	145,251
Income before loss from unconsolidated joint venture and income tax expense	88,184	203,741	12,487	266,286
Loss from unconsolidated joint venture	(3,647)	(2,347)	(5,030)	(1,901)
Income tax expense	(854)	(605)	(1,466)	(1,115)
Net income	83,683	200,789	5,991	263,270
Net income attributable to noncontrolling interests	(6)	(2)	(18)	(12)
Net income attributable to Sabra Health Care REIT, Inc.	83,677	200,787	5,973	263,258
Preferred stock dividends	0	(7,207)	0	(9,768)
Net income attributable to common stockholders	$ 83,677	$ 193,580	$ 5,973	$ 253,490
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.46	$ 1.09	$ 0.03	$ 1.42
Diluted common share (in dollars per share)	$ 0.46	$ 1.08	$ 0.03	$ 1.42
Weighted-average number of common shares outstanding, basic (in shares)	181,567,464	178,314,750	179,984,959	178,304,733
Weighted-average number of common shares outstanding, diluted (in shares)	182,254,100	178,684,024	180,637,059	178,600,789
Triple-Net Portfolio
Expenses:
Operating expenses	$ 6,240	$ 0	$ 11,529	$ 0
Senior Housing - Managed
Expenses:
Operating expenses	$ 24,239	$ 12,299	$ 36,279	$ 24,423

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 83,683	$ 200,789	$ 5,991	$ 263,270
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	567	261	7	(113)
Unrealized (loss) gain on cash flow hedges	(9,756)	3,338	(23,244)	13,236
Total other comprehensive (loss) income	(9,189)	3,599	(23,237)	13,123
Comprehensive income (loss)	74,494	204,388	(17,246)	276,393
Comprehensive income attributable to noncontrolling interests	(6)	(2)	(18)	(12)
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	$ 74,488	$ 204,386	$ (17,264)	$ 276,381

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Stockholders’ Equity	Preferred Stock	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Net Income	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2017			5,750,000	178,255,843
Beginning balance at Dec. 31, 2017	$ 3,437,249	$ 3,432,807	$ 58	$ 1,783	$ 3,636,913	$ (217,236)	$ 11,289	$ 4,442
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to noncontrolling interests	(72)							(72)
Net income	263,270	263,258				263,258		12
Other comprehensive income (loss)	12,328	12,328					12,328
Amortization of stock-based compensation	4,434	4,434			4,434
Preferred stock redemption (in shares)			(5,750,000)
Preferred stock redemption	(143,750)		$ (58)		(138,191)	(5,501)
Common stock issuance, net (in shares)				27,747
Common stock issuance, net	(202)	(202)			(202)
Preferred dividends	(4,267)	(4,267)				(4,267)
Common dividends	(161,065)	(161,065)				(161,065)
Ending balance (in shares) at Jun. 30, 2018			0	178,283,590
Ending balance at Jun. 30, 2018	3,407,925	3,403,543	$ 0	$ 1,783	3,502,954	(125,606)	24,412	4,382
Beginning balance (in shares) at Mar. 31, 2018			5,750,000	178,282,370
Beginning balance at Mar. 31, 2018	3,426,566	3,422,151	$ 58	$ 1,783	3,638,109	(238,612)	20,813	4,415
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to noncontrolling interests	(35)							(35)
Net income	200,789	200,787				200,787		2
Other comprehensive income (loss)	3,599	3,599					3,599
Amortization of stock-based compensation	3,036	3,036			3,036
Preferred stock redemption (in shares)			(5,750,000)
Preferred stock redemption	(143,750)	(143,750)	$ (58)		(138,191)	(5,501)
Common stock issuance, net (in shares)				1,220
Preferred dividends	(1,706)	(1,706)				(1,706)
Common dividends	(80,574)	(80,574)				(80,574)
Ending balance (in shares) at Jun. 30, 2018			0	178,283,590
Ending balance at Jun. 30, 2018	3,407,925	3,403,543	$ 0	$ 1,783	3,502,954	(125,606)	24,412	4,382
Beginning balance (in shares) at Dec. 31, 2018			0	178,306,528
Beginning balance at Dec. 31, 2018	3,254,747	3,250,414	$ 0	$ 1,783	3,507,925	(271,595)	12,301	4,333
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to noncontrolling interests	(73)							(73)
Net income	5,991	5,973				5,973		18
Other comprehensive income (loss)	(23,237)	(23,237)					(23,237)
Amortization of stock-based compensation	6,544	6,544			6,544
Common stock issuance, net (in shares)				11,208,496
Common stock issuance, net	211,614	211,614		$ 112	211,502
Common dividends	(162,708)	(162,708)				(162,708)
Ending balance (in shares) at Jun. 30, 2019			0	189,515,024
Ending balance at Jun. 30, 2019	3,260,376	3,256,098	$ 0	$ 1,895	3,725,971	(460,832)	(10,936)	4,278
Beginning balance (in shares) at Mar. 31, 2019			0	178,419,599
Beginning balance at Mar. 31, 2019	3,050,778	3,046,469	$ 0	$ 1,784	3,508,987	(462,555)	(1,747)	4,309
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to noncontrolling interests	(37)							(37)
Net income	83,683	83,677				83,677		6
Other comprehensive income (loss)	(9,189)	(9,189)					(9,189)
Amortization of stock-based compensation	3,274	3,274			3,274
Common stock issuance, net (in shares)				11,095,425
Common stock issuance, net	213,821	213,821		$ 111	213,710
Common dividends	(81,954)	(81,954)				(81,954)
Ending balance (in shares) at Jun. 30, 2019			0	189,515,024
Ending balance at Jun. 30, 2019	$ 3,260,376	$ 3,256,098	$ 0	$ 1,895	$ 3,725,971	$ (460,832)	$ (10,936)	$ 4,278

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	May 08, 2019	Feb. 05, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Common dividends (in dollars per share)	$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 0.90	$ 0.90

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 5,991	$ 263,270
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	94,425	94,833
Amortization of above and below market lease intangibles, net	2,703	(1,368)
Non-cash interest income adjustments	(1,125)	(1,174)
Non-cash interest expense	5,323	4,997
Stock-based compensation expense	5,570	3,839
Non-cash lease termination income	(9,725)	0
Loss on extinguishment of debt	10,119	0
Straight-line rental income adjustments	(10,710)	(23,752)
Provision for doubtful accounts, straight-line rental income and loan losses	1,400	539
Net gain on sales of real estate	(1,235)	(142,431)
Impairment of real estate	105,136	1,413
Loss from unconsolidated joint venture	5,030	1,901
Distributions of earnings from unconsolidated joint venture	6,884	3,610
Changes in operating assets and liabilities:
Accounts receivable, prepaid expenses and other assets, net	(5,289)	(2,130)
Accounts payable and accrued liabilities	(22,619)	8,006
Net cash provided by operating activities	191,878	211,553
Cash flows from investing activities:
Acquisition of real estate	0	(213,982)
Origination and fundings of loans receivable	(8,823)	(28,157)
Origination and fundings of preferred equity investments	0	(945)
Additions to real estate	(8,596)	(16,817)
Repayments of loans receivable	10,102	38,887
Repayments of preferred equity investments	2,463	375
Investment in unconsolidated joint venture	0	(354,461)
Net proceeds from the sales of real estate	322,736	278,201
Net cash provided by (used in) investing activities	317,882	(296,899)
Cash flows from financing activities:
Net repayments of revolving credit facility	(349,000)
Net borrowings from revolving credit facility		35,000
Proceeds from issuance of senior unsecured notes	300,000	0
Principal payments on senior unsecured notes	(500,000)	0
Principal payments on secured debt	(1,703)	(2,128)
Payments of deferred financing costs	(4,413)	(12)
Payments related to extinguishment of debt	(6,895)	0
Distributions to noncontrolling interests	(73)	(72)
Preferred stock redemption	0	(143,750)
Issuance of common stock, net	211,575	(499)
Dividends paid on common and preferred stock	(161,735)	(164,736)
Net cash used in financing activities	(512,244)	(276,197)
Net decrease in cash, cash equivalents and restricted cash	(2,484)	(361,543)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	300	(252)
Cash, cash equivalents and restricted cash, beginning of period	59,658	587,449
Cash, cash equivalents and restricted cash, end of period	57,474	225,654
Supplemental disclosure of cash flow information:
Interest paid	$ 74,631	$ 67,793

BUSINESS

BUSINESS	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Overview Sabra Health Care REIT, Inc. (“Sabra” or the “Company”) was incorporated on May 10, 2010 as a wholly owned subsidiary of Sun Healthcare Group, Inc. (“Sun”) and commenced operations on November 15, 2010 following Sabra’s separation from Sun. Sabra elected to be treated as a real estate investment trust (“REIT”) with the filing of its United States (“U.S.”) federal income tax return for the taxable year beginning January 1, 2011. Sabra believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. Sabra’s primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector. Sabra primarily generates revenues by leasing properties to tenants and operators throughout the U.S. and Canada. Sabra owns substantially all of its assets and properties and conducts its operations through Sabra Health Care Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), of which Sabra is the sole general partner and a wholly owned subsidiary of Sabra is currently the only limited partner, or by subsidiaries of the Operating Partnership. The Company’s investment portfolio is primarily comprised of skilled nursing/transitional care facilities, senior housing communities and specialty hospitals and other facilities, in each case leased to third-party operators; senior housing communities operated by third-party property managers pursuant to property management agreements (“Senior Housing - Managed”); investments in loans receivable; preferred equity investments; and an investment in an unconsolidated joint venture. On August 17, 2017, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) entered into by the Company, the Operating Partnership, PR Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub”), Care Capital Properties, Inc., a Delaware corporation (“CCP”), and Care Capital Properties, L.P. (“CCPLP”), a Delaware limited partnership and wholly owned subsidiary of CCP, CCP merged with and into Merger Sub, with Merger Sub continuing as the surviving corporation (the “CCP Merger”), following which Merger Sub merged with and into the Company, with the Company continuing as the surviving entity (the “Subsequent Merger”), and, simultaneous with the Subsequent Merger, CCPLP merged with and into the Operating Partnership, with the Operating Partnership continuing as the surviving entity.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of June 30, 2019 and December 31, 2018 and for the three and six month periods ended June 30, 2019 and 2018 . All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for such periods. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC. GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of June 30, 2019 , the Company determined that it was the primary beneficiary of one VIE—a joint venture variable interest entity owning one skilled nursing/transitional care facility—and has consolidated the operations of this entity in the accompanying condensed consolidated financial statements. As of June 30, 2019 , the Company determined that the operations of this entity were not material to the Company’s results of operations, financial condition or cash flows. As it relates to investments in loans, in addition to the Company’s assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At June 30, 2019 , none of the Company’s investments in loans were accounted for as real estate joint ventures. As it relates to investments in joint ventures, the Company assesses any limited partners’ rights and their impact on the presumption of control of the limited partnership by any single partner. The Company also applies this guidance to managing member interests in limited liability companies. The Company reassesses its determination of which entity controls the joint venture if: there is a change to the terms or in the exercisability of the rights of any partners or members, the sole general partner or managing member increases or decreases its ownership interests, or there is an increase or decrease in the number of outstanding ownership interests. As of June 30, 2019 , the Company’s determination of which entity controls its investments in joint ventures has not changed as a result of any reassessment. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Reclassifications Certain amounts in the Company’s condensed consolidated statements of income for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations or stockholders’ equity of prior periods. Investment in Unconsolidated Joint Venture The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s condensed consolidated statements of income. The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its equity method investments may not be recoverable or realized. When indicators of potential impairment are identified, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period and any estimated debt premiums or discounts. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its equity method investment. On January 2, 2018, the Company completed its transaction with affiliates of Enlivant and TPG Real Estate, the real estate platform of TPG, and contributed $352.7 million , before closing costs, to acquire a 49% equity interest in an entity that owned 172 senior housing communities managed by Enlivant (the “Enlivant Joint Venture”). At closing, the Enlivant Joint Venture had outstanding indebtedness of $791.3 million and net working capital of $22.9 million . The joint venture agreement includes an option for the Company to acquire the remainder of the outstanding equity interests in the Enlivant Joint Venture by January 2, 2021 and grants the Company the right of first offer if the Company’s partner in the Enlivant Joint Venture desires to transfer its equity interest (which it may do commencing on January 2, 2020). Sabra also has the right to designate three directors on the seven member board of directors of the Enlivant Joint Venture and has other customary minority rights. During the six months ended June 30, 2019 , the Enlivant Joint Venture sold two senior housing communities for gross proceeds of $6.3 million , and the Company recorded an aggregate net loss on sale of real estate related to unconsolidated joint venture of $1.7 million . As of June 30, 2019 , the book value of the Company’s investment in the Enlivant Joint Venture was $328.2 million . Net Investment in Direct Financing Lease As of June 30, 2019 , the Company had a $23.6 million net investment in one skilled nursing/transitional care facility leased to an operator under a direct financing lease, as the tenant is obligated to purchase the property at the end of the lease term. The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying condensed consolidated balance sheets and represents the total undiscounted rental payments of $4.8 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $5.9 million as of June 30, 2019 . Unearned lease income represents the excess of the minimum lease payments and residual value over the cost of the investment. Unearned lease income is deferred and amortized to income over the lease term to provide a constant yield when collectability of the lease payments is reasonably assured. Income from the Company’s net investment in direct financing lease was $0.7 million and $1.3 million for the three and six months ended June 30, 2019 , respectively, and $0.6 million and $1.3 million for the three and six months ended June 30, 2018 , respectively, and is reflected in interest and other income on the accompanying condensed consolidated statements of income. Future minimum lease payments contractually due under the direct financing lease at June 30, 2019 , were as follows: $1.1 million for the remainder of 2019; $2.3 million for 2020; and $2.1 million for 2021. Recently Issued Accounting Standards Update Adopted In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases, as amended by subsequent ASUs (“Topic 842”). Topic 842 supersedes guidance related to accounting for leases and provides for the recognition of lease assets and lease liabilities by lessees for those leases previously classified as operating leases under GAAP. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease. Topic 842 does not fundamentally change lessor accounting; however, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within GAAP. Topic 842 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company elected to adopt Topic 842 on January 1, 2019 using the modified retrospective transition method, which permits application of the new standard on the adoption date as opposed to the earliest comparative period presented in the financial statements. In addition, the Company elected to use the available practical expedient package, and therefore did not reassess classification of its existing leases. Additionally, the Company has elected a practical expedient not to separate lease and nonlease components (such as services rendered), which can only be applied to leasing arrangements for which (i) the timing and pattern of transfer are the same for the lease and nonlease components and (ii) the lease component, if accounted for separately, would be classified as an operating lease. Under this practical expedient, contracts that are predominantly lease-based would be accounted for under Topic 842, and contracts that are predominantly service-based would be accounted for under Topic 606, Revenue from Contracts with Customers. As a result of electing this practical expedient, the Company, beginning January 1, 2019, recognizes revenue from its leased skilled nursing/transitional care facilities, senior housing communities, and specialty hospitals and other facilities under Topic 842 and recognizes revenue from its Senior Housing - Managed communities under the Revenue ASUs (codified under Topic 606). Upon adoption of Topic 842, the Company recognized its operating leases for which it is the lessee, mainly its corporate office lease and ground leases, on its consolidated balance sheets, as a lease liability of $10.0 million , included in accounts payable and accrued liabilities on the condensed consolidated balance sheets, and a corresponding right-of-use asset, included in accounts receivable, prepaid expenses and other assets, net on the condensed consolidated balance sheets. As of June 30, 2019 , the balances of the lease liability and the corresponding right-of-use asset were $9.8 million and $9.5 million , respectively. The Company assesses the collectability of rental revenues on a lease-by-lease basis. Prior to the adoption of Topic 842, the Company recorded rental revenue and receivables to the extent those amounts were expected to be collected, irrespective of the Company’s determination of the collectability of substantially all rents over the life of a lease. Upon adoption of Topic 842, if at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Upon adoption of Topic 842 and as of the adoption date, the Company recorded a $32.5 million reduction in equity and accounts receivable due to the cumulative effect of this change. This reduction consisted of $17.5 million of straight-line rental income receivables and $15.0 million of cash rent receivables, although management believes the $15.0 million of cash rent receivables are collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Under Topic 842, future write-offs of receivables and any recoveries of previously written-off receivables will be recorded as adjustments to rental revenue. Furthermore, Topic 842 requires lessors to exclude from variable payments lessor costs paid by lessees directly to third parties. In contrast, lessor costs that are paid by the lessor and reimbursed by the lessee are included in the measurement of variable lease revenue and the associated expense. As a result, the Company recognized $4.8 million and $9.0 million of variable lease revenue and the associated expense during the three and six months ended June 30, 2019 , respectively. Issued but Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in ASU 2016-13 are an improvement because they eliminate the probable initial recognition threshold under current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2018-19”), which amends ASU 2016-13 to clarify that receivables arising from operating leases are not within the scope of Subtopic 326-20, and instead, impairment of such receivables should be accounted for in accordance with Topic 842, Leases. ASU 2016-13 and ASU 2018-19 are effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted as of the fiscal years beginning after December 15, 2018. An entity will apply the amendments in these updates through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 updates the fair value measurement disclosure requirements by (i) eliminating certain requirements, including disclosure of the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements, (ii) modifying certain requirements, including clarifying that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date and (iii) adding certain requirements, including disclosure of the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted for any eliminated or modified disclosures. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted.

RECENT REAL ESTATE ACQUISITIONS

RECENT REAL ESTATE ACQUISITIONS	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
RECENT REAL ESTATE ACQUISITIONS	RECENT REAL ESTATE ACQUISITIONS No acquisitions were completed during the six months ended June 30, 2019 . During the six months ended June 30, 2018 , the Company acquired 11 Senior Housing - Managed communities, five senior housing communities and two skilled nursing/transitional care facilities. The consideration was allocated as follows (in thousands): Six Months Ended June 30, 2018 Land $ 24,356 Building and improvements 187,903 Tenant origination and absorption costs intangible assets 1,312 Tenant relationship intangible assets 412 Total consideration $ 213,983 For the acquisitions completed during the six months ended June 30, 2018 , the tenant origination and absorption costs intangible assets and tenant relationship intangible assets had weighted-average amortization periods as of the respective dates of acquisition of 13 years and 22 years , respectively. For the three and six months ended June 30, 2018 , the Company recognized $10.7 million and $20.4 million of total revenues, respectively, and $1.6 million and $2.5 million of net income attributable to common stockholders, respectively, from the facilities acquired during the six months ended June 30, 2018 .

REAL ESTATE PROPERTIES HELD FOR

REAL ESTATE PROPERTIES HELD FOR INVESTMENT	6 Months Ended
	Jun. 30, 2019
Real Estate Investments, Net [Abstract]
REAL ESTATE PROPERTIES HELD FOR INVESTMENT	REAL ESTATE PROPERTIES HELD FOR INVESTMENT The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of June 30, 2019 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 304 33,879 $ 3,712,541 $ (259,872 ) $ 3,452,669 Senior Housing - Leased (1) 62 4,011 646,092 (70,563 ) 575,529 Senior Housing - Managed (1) 44 4,470 863,341 (94,969 ) 768,372 Specialty Hospitals and Other 22 1,085 621,236 (39,226 ) 582,010 432 43,445 5,843,210 (464,630 ) 5,378,580 Corporate Level 634 (340 ) 294 $ 5,843,844 $ (464,970 ) $ 5,378,874 As of December 31, 2018 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 335 37,628 $ 4,094,484 $ (224,942 ) $ 3,869,542 Senior Housing - Leased (1) 90 7,332 1,237,790 (125,902 ) 1,111,888 Senior Housing - Managed (1) 23 1,603 301,739 (19,537 ) 282,202 Specialty Hospitals and Other 22 1,085 621,236 (31,640 ) 589,596 470 47,648 6,255,249 (402,021 ) 5,853,228 Corporate Level 634 (317 ) 317 $ 6,255,883 $ (402,338 ) $ 5,853,545 (1) During the six months ended June 30, 2019 , the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio. June 30, 2019 December 31, 2018 Building and improvements $ 5,017,138 $ 5,388,102 Furniture and equipment 233,775 237,145 Land improvements 1,398 1,254 Land 591,533 629,382 5,843,844 6,255,883 Accumulated depreciation (464,970 ) (402,338 ) $ 5,378,874 $ 5,853,545 Operating Leases As of June 30, 2019 , the substantial majority of the Company’s real estate properties (excluding 44 Senior Housing - Managed communities) were leased under triple-net operating leases with expirations ranging from less than one year to 14 years . As of June 30, 2019 , the leases had a weighted-average remaining term of eight years . The leases generally include provisions to extend the lease terms and other negotiated terms and conditions. The Company, through its subsidiaries, retains substantially all of the risks and benefits of ownership of the real estate assets leased to the tenants. The Company may receive additional security under these operating leases in the form of letters of credit and security deposits from the lessee or guarantees from the parent of the lessee. Security deposits received in cash related to tenant leases are included in accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheets and totaled $10.8 million and $12.4 million as of June 30, 2019 and December 31, 2018 , respectively, and letters of credit deposited with the Company totaled approximately $78 million and $98 million as of June 30, 2019 and December 31, 2018 , respectively. In addition, the Company’s tenants have deposited with the Company $15.0 million and $17.5 million as of June 30, 2019 and December 31, 2018 , respectively, for future real estate taxes, insurance expenditures and tenant improvements related to the Company’s properties and their operations. On February 15, 2019, the Company entered into a settlement agreement with Senior Care Centers in connection with the notices of default and lease termination issued by the Company to Senior Care Centers during the third quarter of 2018. In accordance with the order entered by the bankruptcy court in March 2019, the settlement agreement provided for the discharge by the Company of its claims against Senior Care Centers in exchange for $9.5 million of settlement payments, a portion of which was applied to pay post-petition rent. The Company recorded $0.5 million and $6.2 million of such post-petition rent during the three and six months ended June 30, 2019 , respectively. On April 1, 2019, the Company completed the sale of 28 facilities ( 26 skilled nursing/transitional care facilities and two senior housing communities) previously operated by Senior Care Centers and received gross sales proceeds of $282.5 million . In connection with the sale, the Company entered into an agreement to indemnify the buyer from certain costs, expenses and liabilities related to the historical operations of the facilities by Senior Care Centers. In May 2019, the Company transitioned eight facilities previously operated by Senior Care Centers to a current operator in the Sabra portfolio, and the Company expects to sell the remaining two facilities operated by Senior Care Centers. During the six months ended June 30, 2019 , the Company recorded an impairment charge of $92.2 million related to the Senior Care Centers facilities, which includes $10.2 million related to the Company’s estimated contractual indemnification obligations. On December 19, 2018, the Company entered into a letter of intent to terminate its triple-net master lease with Holiday Retirement (“Holiday”) with respect to all 21 senior housing communities subject to the master lease (the “Holiday Communities”) and concurrently enter into management agreements pursuant to which Holiday would manage the Holiday Communities. On April 1, 2019, the Company completed the conversion of the Holiday Communities to its Senior Housing - Managed portfolio and recognized lease termination income of $66.9 million , which includes a $57.2 million lease termination payment received in exchange for terminating the Holiday master lease and a $9.7 million gain related to the assumption of fixed assets net of liabilities. The Company monitors the creditworthiness of its tenants by reviewing credit ratings (if available) and evaluating the ability of the tenants to meet their lease obligations to the Company based on the tenants’ financial performance, including the evaluation of any parent guarantees (or the guarantees of other related parties) of tenant lease obligations. As formal credit ratings may not be available for most of the Company’s tenants, the primary basis for the Company’s evaluation of the credit quality of its tenants (and more specifically the tenant’s ability to pay their rent obligations to the Company) is the tenant’s lease coverage ratio or the parent’s fixed charge coverage ratio for those entities with a parent guarantee. These coverage ratios include earnings before interest, taxes, depreciation, amortization and rent (“EBITDAR”) to rent and earnings before interest, taxes, depreciation, amortization, rent and management fees (“EBITDARM”) to rent at the lease level and consolidated EBITDAR to total fixed charges at the parent guarantor level when such a guarantee exists. The Company obtains various financial and operational information from its tenants each month and reviews this information in conjunction with the above- described coverage metrics to identify financial and operational trends, evaluate the impact of the industry’s operational and financial environment (including the impact of government reimbursement), and evaluate the management of the tenant’s operations. These metrics help the Company identify potential areas of concern relative to its tenants’ credit quality and ultimately the tenant’s ability to generate sufficient liquidity to meet its obligations, including its obligation to continue to pay the rent due to the Company. For the three and six months ended June 30, 2019 , no tenant relationship represented 10% or more of the Company’s total revenues. The future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows (in thousands): As of June 30, 2019 July 1 through December 31, 2019 $ 217,991 2020 423,770 2021 420,407 2022 396,598 2023 378,439 Thereafter 2,007,117 $ 3,844,322 As of December 31, 2018 2019 $ 465,766 2020 456,207 2021 452,346 2022 454,216 2023 437,277 Thereafter 2,407,064 $ 4,672,876 Senior Housing - Managed Communities The Company’s Senior Housing - Managed communities offer residents certain ancillary services that are not contemplated in the lease with each resident (i.e., housekeeping, laundry, guest meals, etc.). These services are provided and paid for in addition to the standard services included in each resident lease (i.e., room and board, standard meals, etc.). The Company bills residents for ancillary services one month in arrears and recognizes revenue as the services are provided, as the Company has no continuing performance obligation related to those services. Resident fees and services includes ancillary service revenue of $0.2 million and $0.3 million for the three and six months ended June 30, 2019 , respectively, and $0.1 million and $0.2 million for the three and six months ended June 30, 2018 , respectively.

IMPAIRMENT OF REAL ESTATE AND D

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS	IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS 2019 Impairment of Real Estate During the six months ended June 30, 2019 , the Company recognized a $105.1 million real estate impairment, of which amount $92.2 million related to the 28 Senior Care Centers facilities sold on April 1, 2019 and three additional Senior Care Centers facilities, and the remaining $12.9 million related to four additional skilled nursing/transitional care facilities. Dispositions During the six months ended June 30, 2019 , the Company completed the sale of 31 skilled nursing/transitional care facilities and seven senior housing communities for aggregate consideration, net of closing costs, of $315.0 million . The net carrying value of the assets and liabilities of these facilities was $313.8 million , which resulted in an aggregate $1.2 million net gain on sale. Excluding the net gain on sale and real estate impairment, the Company recognized $3.1 million and $18.0 million of net income during the six months ended June 30, 2019 and 2018 , respectively, from these facilities. The sale of these facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations. 2018 Impairment of Real Estate During the six months ended June 30, 2018 , the Company recognized a $1.4 million real estate impairment, of which $0.5 million related to one senior housing community sold during the period. Dispositions During the six months ended June 30, 2018 , the Company completed the sale of 33 skilled nursing/transitional care facilities and four senior housing communities for aggregate consideration, net of closing costs, of $278.3 million . The net carrying value of the assets and liabilities of these facilities was $135.8 million , which resulted in an aggregate $142.5 million net gain on sale. The Company also recognized an additional $0.1 million of selling expenses for sales completed in 2017. Excluding the net gain on sale and real estate impairment, the Company recognized $11.6 million and $15.4 million of net income during the six months ended June 30, 2018 and 2017 from these facilities. The sale of these facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations.

LOANS RECEIVABLE AND OTHER INVE

LOANS RECEIVABLE AND OTHER INVESTMENTS	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
LOANS RECEIVABLE AND OTHER INVESTMENTS	LOANS RECEIVABLE AND OTHER INVESTMENTS As of June 30, 2019 and December 31, 2018 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): June 30, 2019 Investment Quantity as of June 30, 2019 Property Type Principal Balance as of June 30, 2019 (1) Book Value as of June 30, 2019 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date as of June 30, 2019 Loans Receivable: Mortgage 1 Specialty Hospital $ 19,000 $ 19,000 $ 18,577 10.0 % 10.0 % 01/31/27 Construction 2 Senior Housing 5,363 5,418 4,629 8.0 % 7.7 % 04/30/21- 09/30/22 Mezzanine — Skilled Nursing — — 2,188 N/A N/A N/A Other 17 Multiple 48,365 44,418 45,324 6.8 % 7.3 % 02/28/19- 08/31/28 20 72,728 68,836 70,718 7.7 % 8.1 % Loan loss reserve — (1,960 ) (1,258 ) $ 72,728 $ 66,876 $ 69,460 Other Investments: Preferred Equity 9 Skilled Nursing / Senior Housing 43,915 44,327 44,262 12.0 % 12.0 % N/A Total 29 $ 116,643 $ 111,203 $ 113,722 9.3 % 9.6 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees. As of June 30, 2019 and December 31, 2018 , the Company had six and seven loans receivable investments, respectively, with an aggregate principal balance of $3.1 million and $27.7 million , respectively, that were considered to have deteriorated credit quality. As of June 30, 2019 and December 31, 2018 , the book value of the outstanding loans with deteriorated credit quality was $1.5 million and $4.2 million , respectively. During the six months ended June 30, 2019 , one loan with deteriorated credit quality was repaid. The following table presents changes in the accretable yield for the three and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Accretable yield, beginning of period $ 198 $ 1,883 $ 449 $ 2,483 Accretion recognized in earnings (86 ) (1,529 ) (304 ) (2,129 ) Reduction due to payoff — — (33 ) — Net reclassification from nonaccretable difference — 727 — 727 Accretable yield, end of period $ 112 $ 1,081 $ 112 $ 1,081 During the three months ended June 30, 2019 , the Company recorded no provision for specific loan losses, and during the six months ended June 30, 2019 , the Company recorded a $1.2 million provision for specific loan losses. During each of the three and six months ended June 30, 2019 , the Company increased its portfolio-based loan loss reserve by $0.2 million . As of June 30, 2019 , the Company had a $1.3 million specific loan loss reserve and a $0.7 million portfolio-based loan loss reserve. As of June 30, 2019 , the Company considered one loan receivable investment to be impaired, which had a principal balance of $4.3 million as of each of June 30, 2019 and December 31, 2018 . As of June 30, 2019 , three loans receivable investments with an aggregate book value of $4.3 million were on nonaccrual status. As of June 30, 2019 , the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status. As of December 31, 2018 , the Company had a $0.7 million specific loan loss reserve and a $0.6 million portfolio-based loan loss reserve. As of December 31, 2018 , the Company considered one loan receivable investment with a principal balance of $1.3 million to be impaired, and two loans receivable investments with an aggregate book value of $1.3 million were on nonaccrual status. Additionally, as of December 31, 2018 , the Company recognized interest income related to one loan receivable investment, with a book value of $4.3 million , that was more than 90 days past due. As of December 31, 2018 , the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status. During the three and six months ended June 30, 2018 , the Company recorded no provision for specific loan losses and increased its portfolio-based loan loss reserve by $0.2 million and $0.3 million , respectively.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
DEBT	DEBT Secured Indebtedness The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal Balance as of (1) Principal Balance as of (1) Weighted Average (2) Maturity Date Fixed Rate $ 116,421 $ 117,464 3.67 % December 2021 - (1) Principal balance does not include deferred financing costs, net of $ 1.7 million and $1.8 million as of June 30, 2019 and December 31, 2018 , respectively. (2) Weighted average effective interest rate includes private mortgage insurance. Senior Unsecured Notes The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of Title Maturity Date June 30, 2019 (1) December 31, 2018 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ — $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 200,000 200,000 4.80% senior unsecured notes due 2024 (“2024 Notes”) June 1, 2024 300,000 — 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 500,000 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 100,000 $ 1,100,000 $ 1,300,000 (1) Principal balance does not include premium, net of $14.0 million and deferred financing costs, net of $7.5 million as of June 30, 2019 and does not include premium, net of $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 2018 . The 2023 Notes were issued by the Operating Partnership and Sabra Capital Corporation, wholly owned subsidiaries of the Company (the “Issuers”). The 2023 Notes accrue interest at a rate of 5.375% per annum payable semiannually on June 1 and December 1 of each year. On May 29, 2019, the Issuers completed an underwritten public offering of $300.0 million aggregate principal amount of 2024 Notes. The net proceeds were $295.3 million after deducting underwriting discounts and other offering expenses. The net proceeds, together with borrowings under the Revolving Credit Facility (as defined below), were used to redeem the 2021 Notes as discussed below. The 2024 Notes accrue interest at a rate of 4.80% per annum payable semiannually on June 1 and December 1 of each year. The 2024 Notes are redeemable at the option of the Issuers, in whole or in part at any time and from time to time, prior to May 1, 2024, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date, plus a “make-whole” premium. The Issuers may also redeem the 2024 Notes on or after May 1, 2024, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date. Assuming the 2024 Notes are not redeemed, the 2024 Notes mature on June 1, 2024. Additionally, on May 29, 2019, the Issuers issued a notice of redemption for all $500.0 million aggregate principal amount outstanding of the 2021 Notes. On June 29, 2019, the Company redeemed the 2021 Notes at a cash redemption price of 101.375% of the principal amount being redeemed, plus accrued and unpaid interest. The redemption resulted in $10.1 million of redemption related costs and write-offs for the three and six months ended June 30, 2019 , including $6.9 million in payments made to noteholders and legal fees for early redemption and $3.2 million of write-offs associated with unamortized deferred financing and premium costs. These amounts are included in loss on extinguishment of debt on the accompanying condensed consolidated statements of income. The 2026 Notes and the 2027 Notes were assumed as a result of the CCP Merger and accrue interest at a rate of 5.125% and 5.38% , respectively, per annum. Interest is payable semiannually on February 15 and August 15 of each year for the 2026 Notes and on May 17 and November 17 of each year for the 2027 Notes. The obligations under the 2023 Notes, 2024 Notes and 2027 Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and certain subsidiaries of Sabra; provided, however, that such guarantees are subject to release under certain customary circumstances. The obligations under the 2026 Notes are fully and unconditionally guaranteed, on an unsecured basis, by Sabra; provided, however, that such guarantee is subject to release under certain customary circumstances. See Note 12, “Summarized Condensed Consolidating Information” for additional information concerning the circumstances pursuant to which the guarantors will be automatically and unconditionally released from their obligations under the guarantees. The indentures and agreements (the “Senior Notes Indentures”) governing the 2023 Notes, 2024 Notes, 2026 Notes and 2027 Notes (collectively, the “Senior Notes”) include customary events of default and require the Company to comply with specified restrictive covenants. As of June 30, 2019 , the Company was in compliance with all applicable financial covenants under the Senior Notes Indentures. Credit Facility Effective on August 17, 2017, the Operating Partnership and Sabra Canadian Holdings, LLC (together, the “Borrowers”), Sabra and the other parties thereto entered into a fourth amended and restated unsecured credit facility (the “Credit Facility”). The Credit Facility includes a $1.0 billion revolving credit facility (the “Revolving Credit Facility”), $1.1 billion in U.S. dollar term loans and a CAD $125.0 million Canadian dollar term loan (collectively, the “Term Loans”). Further, up to $175.0 million of the Revolving Credit Facility may be used for borrowings in certain foreign currencies. The Credit Facility also contains an accordion feature that can increase the total available borrowings to $2.5 billion , subject to terms and conditions. The Revolving Credit Facility has a maturity date of August 17, 2021, and includes two six -month extension options. $200.0 million of the U.S. dollar Term Loans has a maturity date of August 17, 2020, and the other Term Loans have a maturity date of August 17, 2022. As of June 30, 2019 , there was $275.0 million outstanding under the Revolving Credit Facility and $725.0 million available for borrowing. Borrowings under the Revolving Credit Facility bear interest on the outstanding principal amount at a rate equal to an applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) a base rate determined as the greater of (i) the federal funds rate plus 0.5% , (ii) the prime rate, and (iii) one-month LIBOR plus 1.0% (the “Base Rate”). On August 17, 2017, Sabra’s ratings met the Investment Grade Ratings Criteria (as defined in the credit agreement), and Sabra elected to use the ratings-based applicable interest margin for borrowings which will vary based on the Debt Ratings, as defined in the credit agreement, and will range from 0.875% to 1.65% per annum for LIBOR based borrowings and 0.00% to 0.65% per annum for borrowings at the Base Rate. As of June 30, 2019 , the interest rate on the Revolving Credit Facility was 3.65% . In addition, the Operating Partnership pays a facility fee ranging between 0.125% and 0.300% per annum based on the aggregate amount of commitments under the Revolving Credit Facility regardless of amounts outstanding thereunder. The U.S. dollar Term Loans bear interest on the outstanding principal amount at a rate equal to an applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) the Base Rate. The ratings-based applicable interest margin for borrowings will vary based on the Debt Ratings, as defined in the credit agreement, and will range from 0.90% to 1.90% per annum for LIBOR based borrowings and 0.00% to 0.90% per annum for borrowings at the Base Rate. The Canadian dollar Term Loan bears interest on the outstanding principal amount at a rate equal to the Canadian Dollar Offered Rate (“CDOR”) plus an interest margin that will range from 0.90% to 1.90% depending on the Debt Ratings. On June 10, 2015, the Company entered into an interest rate swap agreement to fix the CDOR portion of the interest rate for CAD $90.0 million of its Canadian dollar Term Loan at 1.59% . In addition, CAD $90.0 million of the Canadian dollar Term Loan was designated as a net investment hedge. On August 10, 2016, the Company entered into two interest rate swap agreements to fix the LIBOR portion of the interest rate for $245.0 million of its U.S. dollar Term Loans at 0.90% and one interest rate swap agreement to fix the CDOR portion on CAD $35.0 million of its Canadian dollar Term Loan at 0.93% . See Note 8, “Derivative and Hedging Instruments” for further information. As a result of the CCP Merger, the Company assumed eight interest rate swap agreements that fix the LIBOR portion of the interest rate for $600 million of the Company’s U.S. dollar Term Loans at a weighted average rate of 1.31% . See Note 8, “Derivative and Hedging Instruments” for further information. The obligations of the Borrowers under the Credit Facility are guaranteed by Sabra and certain subsidiaries of Sabra. The Credit Facility contains customary covenants that include restrictions or limitations on the ability to make acquisitions and other investments, pay dividends, incur additional indebtedness, engage in non-healthcare related business activities, enter into transactions with affiliates and sell or otherwise transfer certain assets as well as customary events of default. The Credit Facility also requires Sabra, through the Operating Partnership, to comply with specified financial covenants, which include a maximum leverage ratio, a minimum fixed charge coverage ratio, a maximum unsecured leverage ratio and a minimum tangible net worth requirement. As of June 30, 2019 , the Company was in compliance with all applicable financial covenants under the Credit Facility. Interest Expense The Company incurred interest expense of $33.6 million and $69.9 million during the three and six months ended June 30, 2019 , respectively, and $36.8 million and $72.6 million during the three and six months ended June 30, 2018 , respectively. Interest expense includes non-cash interest expense of $2.8 million and $5.3 million for the three and six months ended June 30, 2019 , respectively, and $2.5 million and $5.0 million for the three and six months ended June 30, 2018 , respectively. As of June 30, 2019 and December 31, 2018 , the Company had $14.0 million and $24.0 million , respectively, of accrued interest included in accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheets. Maturities The following is a schedule of maturities for the Company’s outstanding debt as of June 30, 2019 (in thousands): Secured Indebtedness Revolving Credit Facility (1) Term Loans Senior Notes Total July 1 through December 31, 2019 $ 1,735 $ — $ — $ — $ 1,735 2020 3,552 — 200,000 — 203,552 2021 18,751 275,000 — — 293,751 2022 3,185 — 995,487 — 998,672 2023 3,282 — — 200,000 203,282 Thereafter 85,916 — — 900,000 985,916 Total Debt 116,421 275,000 1,195,487 1,100,000 2,686,908 Premium, net — — — 13,980 13,980 Deferred financing costs, net (1,746 ) — (5,713 ) (7,462 ) (14,921 ) Total Debt, Net $ 114,675 $ 275,000 $ 1,189,774 $ 1,106,518 $ 2,685,967 (1) Revolving Credit Facility is subject to two six -month extension options.

DERIVATIVE AND HEDGING INSTRUME

DERIVATIVE AND HEDGING INSTRUMENTS	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE AND HEDGING INSTRUMENTS	DERIVATIVE AND HEDGING INSTRUMENTS The Company is exposed to various market risks, including the potential loss arising from adverse changes in interest rates and foreign exchange rates. The Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates and foreign exchange rates. The Company’s derivative financial instruments are used to manage differences in the amount of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Certain of the Company’s foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value in the Company’s functional currency, the U.S. dollar, of the Company’s investment in foreign operations, the cash receipts and payments related to these foreign operations and payments of interest and principal under Canadian dollar denominated debt. The Company enters into derivative financial instruments to protect the value of its foreign investments and fix a portion of the interest payments for certain debt obligations. The Company does not enter into derivatives for speculative purposes. Cash Flow Hedges The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and collars as part of its interest rate risk management strategy. In May 2019, the Company terminated three forward starting interest rate swaps, resulting in a payment to counterparties totaling $12.6 million . The balance of the loss in other comprehensive income will be reclassified to earnings through 2029. As of June 30, 2019 , approximately $2.5 million of gains, which are included in accumulated other comprehensive income, are expected to be reclassified into earnings in the next 12 months. Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on investments it holds in Canada. The Company uses cross currency interest rate swaps to hedge its exposure to changes in foreign exchange rates on these foreign investments. The following presents the notional amount of derivative instruments as of the dates indicated (in thousands): June 30, 2019 December 31, 2018 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 1,490,000 $ 1,045,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 54,941 $ 55,401 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 1,359 $ 899 (1) Balance includes four forward starting interest rate swaps and one forward starting interest rate collar with an effective date of August 2020 and two forward starting interest rate swaps and one forward starting interest rate collar with an effective date of January 2021 that were entered into as of June 30, 2019 . The forward starting interest rate swaps and forward starting interest rate collars have an aggregate initial notional amount of $645.0 million accreting to $845.0 million in January 2023. Derivative and Financial Instruments Designated as Hedging Instruments The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at June 30, 2019 and December 31, 2018 (dollars in thousands): Count as of June 30, 2019 Fair Value Maturity Dates Type Designation June 30, 2019 December 31, 2018 Balance Sheet Location Assets: Interest rate swaps Cash flow 10 $ 7,704 $ 25,184 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Forward starting interest rate swaps Cash flow 6 128 — 2024 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 2,796 4,160 2025 Accounts receivable, prepaid expenses and other assets, net $ 10,628 $ 29,344 Liabilities: Forward starting interest rate swaps Cash flow — $ — $ 4,529 2029 Accounts payable and accrued liabilities Forward starting interest rate collars Cash flow 2 73 — 2024 Accounts payable and accrued liabilities CAD term loan Net investment 1 95,488 91,700 2022 Term loans, net $ 95,561 $ 96,229 The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and six months ended June 30, 2019 and 2018 (in thousands): (Loss) Gain Recognized in Other Comprehensive (Loss) Income Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ (8,126 ) $ 4,009 $ (19,737 ) $ 13,132 Interest expense Net Investment Hedges: Foreign currency products (42 ) 898 (1,276 ) 1,505 N/A CAD term loan (1,863 ) 1,750 (3,788 ) 4,425 N/A $ (10,031 ) $ 6,657 $ (24,801 ) $ 19,062 Gain Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ 1,695 $ 633 $ 3,608 $ 583 Interest expense The gain in the table above related to interest rate products was reclassified from accumulated other comprehensive income into interest expense. Interest expense totaled $33.6 million and $69.9 million for the three and six months ended June 30, 2019 , respectively, and $36.8 million and $72.6 million for the three and six months ended June 30, 2018 , respectively. During the three and six months ended June 30, 2019 and 2018 , no cash flow hedges were determined to be ineffective. Derivatives Not Designated as Hedging Instruments As of June 30, 2019 , the Company had one outstanding cross currency interest rate swap not designated as a hedging instrument in an asset position with a fair value of $68,000 and included this amount in accounts receivable, prepaid expenses and other assets, net on the condensed consolidated balance sheets. During the three and six months ended June 30, 2019 , the Company recorded $1,000 and $7,000 , respectively, of other expense related to this derivative not designated as a hedging instrument. Offsetting Derivatives The Company enters into master netting arrangements, which reduce credit risk by permitting net settlement of transactions with the same counterparty. The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2019 and December 31, 2018 (in thousands): As of June 30, 2019 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 10,628 $ — $ 10,628 $ (73 ) $ — $ 10,555 Offsetting Liabilities: Derivatives $ 73 $ — $ 73 $ (73 ) $ — $ — As of December 31, 2018 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460 Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision pursuant to which the Company could be declared in default on the derivative obligation if the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender. As of June 30, 2019 , the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $16,000 . As of June 30, 2019 , the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions at June 30, 2019 , it could have been required to settle its obligations under the agreements at their termination value of $16,000 .

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES Financial Instruments The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and whose markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments whose markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The carrying values of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities and the Credit Facility are reasonable estimates of fair value because of the short-term maturities of these instruments. Fair values for other financial instruments are derived as follows: Loans receivable : These instruments are presented on the accompanying condensed consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying condensed consolidated balance sheets at their cost and not at fair value. The fair values of the preferred equity investments were estimated using an internal valuation model that considered the expected future cash flows for the preferred equity investments, the underlying collateral value and other credit enhancements. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying condensed consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include forward yield curves and other relevant information. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in Level 2 of the fair value hierarchy. Senior Notes : These instruments are presented on the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s secured debt were estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. As such, the Company classifies these instruments as Level 3. The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of June 30, 2019 and December 31, 2018 whose carrying amounts do not approximate their fair value (in thousands): June 30, 2019 December 31, 2018 Face (1) Carrying Amount (2) Fair Value Face (1) Carrying (2) Fair Value Financial assets: Loans receivable $ 72,728 $ 66,876 $ 63,977 $ 96,492 $ 69,460 $ 65,797 Preferred equity investments 43,915 44,327 44,280 43,851 44,262 43,825 Financial liabilities: Senior Notes 1,100,000 1,106,518 1,143,537 1,300,000 1,307,394 1,270,877 Secured indebtedness 116,421 114,675 108,446 117,464 115,679 101,820 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs. The Company determined the fair value of financial instruments as of June 30, 2019 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Loans receivable $ 63,977 $ — $ — $ 63,977 Preferred equity investments 44,280 — — 44,280 Financial liabilities: Senior Notes 1,143,537 — 1,143,537 — Secured indebtedness 108,446 — — 108,446 Disclosure of the fair value of financial instruments is based on pertinent information available to the Company at the applicable dates and requires a significant amount of judgment. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has made the estimation of fair values difficult and, therefore, both the actual results and the Company’s estimate of fair value at a future date could be materially different. Items Measured at Fair Value on a Recurring Basis During the six months ended June 30, 2019 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Recurring Basis: Financial assets: Interest rate swaps $ 7,704 $ — $ 7,704 $ — Forward starting interest rate swaps 128 — 128 — Cross currency interest rate swaps 2,796 — 2,796 — Financial liabilities: Forward starting interest rate collars 73 — 73 —

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
EQUITY	EQUITY Preferred Stock On March 21, 2013, the Company completed an underwritten public offering of 5,750,000 shares of 7.125% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) at a price of $25.00 per share, pursuant to an effective registration statement. The Company redeemed all 5,750,000 shares of its Series A Preferred Stock on June 1, 2018 (the “Redemption Date”) for $25.00 per share, plus accrued and unpaid dividends to, but not including, the Redemption Date, without interest, in the amount of $0.4453125 per share of Series A Preferred Stock, for a total redemption price per share of Series A Preferred Stock equal to $25.4453125 . As a result of the redemption, the Company incurred a charge of $5.5 million related to the original issuance costs of the Series A Preferred Stock during the three months ended June 30, 2018. Common Stock On February 25, 2019, the Company entered into an equity distribution agreement (the “Distribution Agreement”) with a consortium of banks acting as sales agents (the “Sales Agents”) to sell shares of its common stock having aggregate gross proceeds of up to $500.0 million from time to time through the Sales Agents (the “ATM Program”). Pursuant to the terms of the Distribution Agreement, the shares may be sold by any method permitted by law deemed to be an “at-the-market” offering, including, without limitation, sales made directly on the Nasdaq Global Select Market, on any other existing trading market for the Company’s common stock or to or through a market maker (which may include block transactions). In addition, with the Company’s prior consent, the Sales Agents may also sell the shares in privately negotiated transactions. The Company will pay each Sales Agent a commission of up to 1.5% of the gross proceeds from the sales of shares sold pursuant to the Distribution Agreement. The offering of shares pursuant to the Distribution Agreement will terminate upon the earlier of (i) the sale of the maximum aggregate amount of the shares subject to the Distribution Agreement, or (ii) the termination of the Distribution Agreement as permitted therein. The offering of shares pursuant to the Distribution Agreement may also be suspended as permitted therein. During the three and six months ended June 30, 2019 , the Company sold 11.1 million shares under the ATM Program at an average price of $19.59 per share, generating gross proceeds of $217.3 million , before $3.3 million of commissions. As of June 30, 2019 , the Company had $282.7 million available under the ATM Program. The following table lists the cash dividends on common stock declared and paid by the Company during the six months ended June 30, 2019 : Declaration Date Record Date Amount Per Share Dividend Payable Date February 5, 2019 February 15, 2019 $ 0.45 February 28, 2019 May 8, 2019 May 20, 2019 $ 0.45 May 31, 2019 During the six months ended June 30, 2019 , the Company issued 114,185 shares of common stock as a result of restricted stock unit vestings. Upon any payment of shares to employees as a result of restricted stock unit vestings, the employees’ related tax withholding obligation will generally be satisfied by the Company, reducing the number of shares to be delivered by a number of shares necessary to satisfy the related applicable tax withholding obligation. During the six months ended June 30, 2019 and 2018 , the Company incurred $1.3 million and $0.2 million , respectively, in tax withholding obligations on behalf of its employees that were satisfied through a reduction in the number of shares delivered to those participants. Accumulated Other Comprehensive (Loss) Income The following is a summary of the Company’s accumulated other comprehensive (loss) income (in thousands): June 30, 2019 December 31, 2018 Foreign currency translation loss $ (2,186 ) $ (2,193 ) Unrealized (loss) gain on cash flow hedges (8,750 ) 14,494 Total accumulated other comprehensive (loss) income $ (10,936 ) $ 12,301

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The following table illustrates the computation of basic and diluted earnings per share for the three and six months ended June 30, 2019 and 2018 (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Numerator Net income attributable to common stockholders $ 83,677 $ 193,580 $ 5,973 $ 253,490 Denominator Basic weighted average common shares and common equivalents 181,567,464 178,314,750 179,984,959 178,304,733 Dilutive restricted stock units 686,636 369,274 652,100 296,056 Diluted weighted average common shares 182,254,100 178,684,024 180,637,059 178,600,789 Net income attributable to common stockholders, per: Basic common share $ 0.46 $ 1.09 $ 0.03 $ 1.42 Diluted common share $ 0.46 $ 1.08 $ 0.03 $ 1.42 During the three and six months ended June 30, 2019 , approximately 1,100 and 2,900 restricted stock units, respectively, were not included in computing diluted earnings per share because they were considered anti-dilutive. During the three and six months ended June 30, 2018 , approximately 35,300 and 46,000 restricted stock units, respectively, were not included in computing diluted earnings per share because they were considered anti-dilutive. No stock options were outstanding as of June 30, 2019 , and no stock options were considered anti-dilutive during the three and six months ended June 30, 2018 .

SUMMARIZED CONDENSED CONSOLIDAT

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION	6 Months Ended
	Jun. 30, 2019
Summarized Condensed Consolidating Information [Abstract]
SUMMARIZED CONDENSED CONSOLIDATING INFORMATION	SUMMARIZED CONDENSED CONSOLIDATING INFORMATION In connection with the offerings of the 2023 Notes and the 2024 Notes by the Issuers, the Company and certain 100% owned subsidiaries of the Company (the “Guarantors”) have, jointly and severally, fully and unconditionally guaranteed the 2023 Notes and the 2024 Notes, subject to release under certain customary circumstances as described below. In connection with the assumption of the 2026 Notes as a result of the CCP Merger, the Company has fully and unconditionally guaranteed the 2026 Notes, subject to release under certain circumstances as described below. These guarantees are subordinated to all existing and future senior debt and senior guarantees of the Guarantors and are unsecured. The Company conducts all of its business through and derives virtually all of its income from its subsidiaries. Therefore, the Company’s ability to make required payments with respect to its indebtedness (including the Senior Notes) and other obligations depends on the financial results and condition of its subsidiaries and its ability to receive funds from its subsidiaries. A Guarantor will be automatically and unconditionally released from its obligations under the guarantees with respect to the 2023 Notes and the 2024 Notes in the event of: • Any sale of the subsidiary Guarantor or of all or substantially all of its assets; • A merger or consolidation of a subsidiary Guarantor with an issuer of the 2023 Notes or the 2024 Notes or another Guarantor, provided that the surviving entity remains a Guarantor; • With respect to the 2023 Notes, a subsidiary Guarantor is declared “unrestricted” for covenant purposes under the indenture governing the 2023 Notes; • The requirements for legal defeasance or covenant defeasance or to discharge the indentures governing the 2023 Notes or the 2024 Notes have been satisfied; • A liquidation or dissolution, to the extent permitted under the indentures governing the 2023 Notes or the 2024 Notes, of a subsidiary Guarantor; • The release or discharge of the guaranty that resulted in the creation of the subsidiary guaranty, except a discharge or release by or as a result of payment under such guaranty; or • With respect to the 2024 Notes, if the subsidiary Guarantor is not a guarantor or is not otherwise liable in respect of any obligations under any credit facility (as defined in the indenture governing the 2024 Notes) of the Company or any of its subsidiaries. The Company will be automatically and unconditionally released from its obligations under the guarantees with respect to the 2026 Notes in the event of: • A liquidation or dissolution, to the extent permitted under the indenture governing the 2026 Notes; • A merger or consolidation, provided that the surviving entity remains a Guarantor; or • The requirements for legal defeasance or covenant defeasance or to discharge the indenture governing the 2026 Notes have been satisfied. Pursuant to Rule 3-10 of Regulation S-X, the following summarized condensed consolidating information is provided for the Company (the “Parent Company”), the Operating Partnership, Sabra Capital Corporation, the Guarantors, and the Company’s non-Guarantor subsidiaries with respect to the 2023 Notes and the 2024 Notes. This summarized financial information has been prepared from the books and records maintained by the Company, the Operating Partnership, Sabra Capital Corporation, the Guarantors and the non-Guarantor subsidiaries. The summarized financial information may not necessarily be indicative of the results of operations or financial position had the Operating Partnership, Sabra Capital Corporation, the Guarantors or non-Guarantor subsidiaries operated as independent entities. Sabra’s investments in its consolidated subsidiaries are presented based upon Sabra’s proportionate share of each subsidiary’s net assets. The Guarantor subsidiaries’ investments in the non-Guarantor subsidiaries and non-Guarantor subsidiaries’ investments in Guarantor subsidiaries are presented under the equity method of accounting. Intercompany activities between subsidiaries and the Parent Company are presented within operating activities on the condensed consolidating statement of cash flows. Condensed consolidating financial statements for the Company and its subsidiaries, including the Parent Company only, the Operating Partnership only, Sabra Capital Corporation only, the combined Guarantor subsidiaries and the combined non-Guarantor subsidiaries, are as follows: CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 294 $ — $ — $ 1,423,107 $ 3,955,473 $ — $ 5,378,874 Loans receivable and other investments, net (726 ) — — 55,453 56,476 — 111,203 Investment in unconsolidated joint venture — — — — 328,207 — 328,207 Cash and cash equivalents 38,500 — — 2,604 6,491 — 47,595 Restricted cash — — — 1,881 7,998 — 9,879 Lease intangible assets, net — — — 9,299 99,578 — 108,877 Accounts receivable, prepaid expenses and other assets, net 4,433 17,873 — 29,119 95,671 (8,552 ) 138,544 Intercompany 1,993,632 2,035,256 — — — (4,028,888 ) — Investment in subsidiaries 1,253,100 1,690,158 — 34,271 — (2,977,529 ) — Total assets $ 3,289,233 $ 3,743,287 $ — $ 1,555,734 $ 4,549,894 $ (7,014,969 ) $ 6,123,179 Liabilities Secured debt, net $ — $ — $ — $ — $ 114,675 $ — $ 114,675 Revolving credit facility — 275,000 — — — — 275,000 Term loans, net — 1,095,102 — 94,672 — — 1,189,774 Senior unsecured notes, net — 1,106,518 — — — — 1,106,518 Accounts payable and accrued liabilities 33,135 13,567 — 2,002 60,483 (8,552 ) 100,635 Lease intangible liabilities, net — — — — 76,201 — 76,201 Intercompany — — — 664,912 3,363,976 (4,028,888 ) — Total liabilities 33,135 2,490,187 — 761,586 3,615,335 (4,037,440 ) 2,862,803 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,256,098 1,253,100 — 794,148 930,281 (2,977,529 ) 3,256,098 Noncontrolling interests — — — — 4,278 — 4,278 Total equity 3,256,098 1,253,100 — 794,148 934,559 (2,977,529 ) 3,260,376 Total liabilities and equity $ 3,289,233 $ 3,743,287 $ — $ 1,555,734 $ 4,549,894 $ (7,014,969 ) $ 6,123,179 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 317 $ — $ — $ 1,453,451 $ 4,399,777 $ — $ 5,853,545 Loans receivable and other investments, net (560 ) — — 50,534 63,748 — 113,722 Investment in unconsolidated joint venture — — — — 340,120 — 340,120 Cash and cash equivalents 40,835 — — 3,508 5,887 — 50,230 Restricted cash — — — 1,820 7,608 — 9,428 Lease intangible assets, net — — — 13,947 117,150 — 131,097 Accounts receivable, prepaid expenses and other assets, net 798 37,075 — 58,704 81,603 (11,019 ) 167,161 Intercompany 1,972,059 2,646,669 — — — (4,618,728 ) — Investment in subsidiaries 1,258,715 1,629,795 — 33,083 — (2,921,593 ) — Total assets $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 Liabilities Secured debt, net $ — $ — $ — $ — $ 115,679 $ — $ 115,679 Revolving credit facility — 624,000 — — — — 624,000 Term loans, net — 1,094,177 — 90,753 — — 1,184,930 Senior unsecured notes, net — 1,307,394 — — — — 1,307,394 Accounts payable and accrued liabilities 21,750 29,253 — 2,570 52,273 (11,019 ) 94,827 Lease intangible liabilities, net — — — — 83,726 — 83,726 Intercompany — — — 810,394 3,808,334 (4,618,728 ) — Total liabilities 21,750 3,054,824 — 903,717 4,060,012 (4,629,747 ) 3,410,556 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,250,414 1,258,715 — 711,330 951,548 (2,921,593 ) 3,250,414 Noncontrolling interests — — — — 4,333 — 4,333 Total equity 3,250,414 1,258,715 — 711,330 955,881 (2,921,593 ) 3,254,747 Total liabilities and equity $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 30,097 $ 92,073 $ (9,370 ) $ 112,800 Interest and other income 91 1,896 — 68,198 2,206 (1,896 ) 70,495 Resident fees and services — — — — 36,071 — 36,071 Total revenues 91 1,896 — 98,295 130,350 (11,266 ) 219,366 Expenses: Depreciation and amortization 12 — — 15,559 33,905 — 49,476 Interest — 31,616 — 2,666 1,222 (1,896 ) 33,608 Triple-net portfolio operating expenses — — — 156 6,084 — 6,240 Senior housing - managed portfolio operating expenses — — — — 33,609 (9,370 ) 24,239 General and administrative 7,706 31 — 1 321 — 8,059 Provision for doubtful accounts, straight-line rental income and loan losses 193 — — — — — 193 Impairment of real estate — — — — 2,002 — 2,002 Total expenses 7,911 31,647 — 18,382 77,143 (11,266 ) 123,817 Other (expense) income: Loss on extinguishment of debt — (10,119 ) — — — — (10,119 ) Other (expense) income — (109 ) — 108 — — (1 ) Net gain on sales of real estate — — — 190 2,565 — 2,755 Total other (expense) income — (10,228 ) — 298 2,565 — (7,365 ) Income in subsidiary 91,406 131,385 — 1,691 — (224,482 ) — Income before loss from unconsolidated joint venture and income tax expense 83,586 91,406 — 81,902 55,772 (224,482 ) 88,184 Loss from unconsolidated joint venture — — — — (3,647 ) — (3,647 ) Income tax benefit (expense) 91 — — (542 ) (403 ) — (854 ) Net income 83,677 91,406 — 81,360 51,722 (224,482 ) 83,683 Net income attributable to noncontrolling interests — — — — (6 ) — (6 ) Net income attributable to common stockholders $ 83,677 $ 91,406 $ — $ 81,360 $ 51,716 $ (224,482 ) $ 83,677 Net income attributable to common stockholders, per: Basic common share $ 0.46 Diluted common share $ 0.46 Weighted-average number of common shares outstanding, basic 181,567,464 Weighted-average number of common shares outstanding, diluted 182,254,100 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 36,355 $ 112,194 $ (4,320 ) $ 144,229 Interest and other income 40 96 — 1,180 3,333 (96 ) 4,553 Resident fees and services — — — — 17,530 — 17,530 Total revenues 40 96 — 37,535 133,057 (4,416 ) 166,312 Expenses: Depreciation and amortization 222 — — 11,795 34,811 — 46,828 Interest — 33,415 — 810 2,628 (96 ) 36,757 Senior housing - managed portfolio operating expenses — — — — 16,619 (4,320 ) 12,299 General and administrative 8,121 14 — 368 880 — 9,383 Provision for (recovery of) doubtful accounts, straight-line rental income and loan losses 311 — — (985 ) — — (674 ) Impairment of real estate — — — 881 — — 881 Total expenses 8,654 33,429 — 12,869 54,938 (4,416 ) 105,474 Other income: Other income (expense) — 32 — (32 ) — — — Net gain on sales of real estate — — — 41,520 101,383 — 142,903 Total other income — 32 — 41,488 101,383 — 142,903 Income in subsidiary 209,456 242,758 — 1,871 — (454,085 ) — Income before loss from unconsolidated joint venture and income tax expense 200,842 209,457 — 68,025 179,502 (454,085 ) 203,741 Loss from unconsolidated joint venture — — — — (2,347 ) — (2,347 ) Income tax expense (55 ) (1 ) — (489 ) (60 ) — (605 ) Net income 200,787 209,456 — 67,536 177,095 (454,085 ) 200,789 Net income attributable to noncontrolling interests — — — — (2 ) — (2 ) Net income attributable to Sabra Health Care REIT, Inc. 200,787 209,456 — 67,536 177,093 (454,085 ) 200,787 Preferred stock dividends (7,207 ) — — — — — (7,207 ) Net income attributable to common stockholders $ 193,580 $ 209,456 $ — $ 67,536 $ 177,093 $ (454,085 ) $ 193,580 Net income attributable to common stockholders, per: Basic common share $ 1.09 Diluted common share $ 1.08 Weighted-average number of common shares outstanding, basic 178,314,750 Weighted-average number of common shares outstanding, diluted 178,684,024 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 59,398 $ 183,536 $ (13,747 ) $ 229,187 Interest and other income 120 1,991 — 69,429 4,271 (1,991 ) 73,820 Resident fees and services — — — — 53,132 — 53,132 Total revenues 120 1,991 — 128,827 240,939 (15,738 ) 356,139 Expenses: Depreciation and amortization 24 — — 27,241 67,160 — 94,425 Interest — 65,891 — 3,567 2,459 (1,991 ) 69,926 Triple-net portfolio operating expenses — — — 1,170 10,359 — 11,529 Senior housing - managed portfolio operating expenses — — — — 50,026 (13,747 ) 36,279 General and administrative 15,236 62 — 276 669 — 16,243 Provision for doubtful accounts, straight-line rental income and loan losses 166 — — — 1,234 — 1,400 Impairment of real estate — — — — 105,136 — 105,136 Total expenses 15,426 65,953 — 32,254 237,043 (15,738 ) 334,938 Other (expense) income: Loss on extinguishment of debt — (10,119 ) — — — — (10,119 ) Other (expense) income — (608 ) — 601 177 — 170 Net (loss) gain on sales of real estate — — — (180 ) 1,415 — 1,235 Total other (expense) income — (10,727 ) — 421 1,592 — (8,714 ) Income in subsidiary 21,629 96,318 — 3,361 — (121,308 ) — Income before loss from unconsolidated joint venture and income tax expense 6,323 21,629 — 100,355 5,488 (121,308 ) 12,487 Loss from unconsolidated joint venture — — — — (5,030 ) — (5,030 ) Income tax expense (350 ) — — (647 ) (469 ) — (1,466 ) Net income 5,973 21,629 — 99,708 (11 ) (121,308 ) 5,991 Net income attributable to noncontrolling interests — — — — (18 ) — (18 ) Net income attributable to common stockholders $ 5,973 $ 21,629 $ — $ 99,708 $ (29 ) $ (121,308 ) $ 5,973 Net income attributable to common stockholders, per: Basic common share $ 0.03 Diluted common share $ 0.03 Weighted-average number of common shares outstanding, basic 179,984,959 Weighted-average number of common shares outstanding, diluted 180,637,059 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 71,569 $ 225,468 $ (8,553 ) $ 288,484 Interest and other income 50 208 — 2,413 6,428 (208 ) 8,891 Resident fees and services — — — — 35,023 — 35,023 Total revenues 50 208 — 73,982 266,919 (8,761 ) 332,398 Expenses: Depreciation and amortization 443 — — 24,130 70,260 — 94,833 Interest — 65,980 — 1,601 5,202 (208 ) 72,575 Senior housing - managed portfolio operating expenses — — — — 32,976 (8,553 ) 24,423 General and administrative 14,279 29 — 783 2,489 — 17,580 Provision for (recovery of) doubtful accounts, straight-line rental income and loan losses 2,492 — — (1,956 ) 3 — 539 Impairment of real estate — — — 1,413 — — 1,413 Total expenses 17,214 66,009 — 25,971 110,930 (8,761 ) 211,363 Other income: Other income 1,977 233 — 378 232 — 2,820 Net gain on sales of real estate — — — 41,520 100,911 — 142,431 Total other income 1,977 233 — 41,898 101,143 — 145,251 Income in subsidiary 278,798 344,367 — 3,725 — (626,890 ) — Income before loss from unconsolidated joint venture and income tax expense 263,611 278,799 — 93,634 257,132 (626,890 ) 266,286 Loss from unconsolidated joint venture — — — — (1,901 ) — (1,901 ) Income tax expense (353 ) (1 ) — (542 ) (219 ) — (1,115 ) Net income 263,258 278,798 — 93,092 255,012 (626,890 ) 263,270 Net income attributable to noncontrolling interests — — — — (12 ) — (12 ) Net income attributable to Sabra Health Care REIT, Inc. 263,258 278,798 — 93,092 255,000 (626,890 ) 263,258 Preferred stock dividends (9,768 ) — — — — — (9,768 ) Net income attributable to common stockholders $ 253,490 $ 278,798 $ — $ 93,092 $ 255,000 $ (626,890 ) $ 253,490 Net income attributable to common stockholders, per: Basic common share $ 1.42 Diluted common share $ 1.42 Weighted-average number of common shares outstanding, basic 178,304,733 Weighted-average number of common shares outstanding, diluted 178,600,789 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended June 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 83,677 $ 91,406 $ — $ 81,360 $ 51,722 $ (224,482 ) $ 83,683 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (264 ) — 629 202 — 567 Unrealized (loss) gain on cash flow hedges — (9,808 ) — 52 — — (9,756 ) Total other comprehensive (loss) income — (10,072 ) — 681 202 — (9,189 ) Comprehensive income 83,677 81,334 — 82,041 51,924 (224,482 ) 74,494 Comprehensive income attributable to noncontrolling interest — — — — (6 ) — (6 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 83,677 $ 81,334 $ — $ 82,041 $ 51,918 $ (224,482 ) $ 74,488 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 200,787 $ 209,456 $ — $ 67,536 $ 177,095 $ (454,085 ) $ 200,789 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,064 — (608 ) (195 ) — 261 Unrealized gain on cash flow hedges — 3,335 — 3 — — 3,338 Total other comprehensive income (loss) — 4,399 — (605 ) (195 ) — 3,599 Comprehensive income 200,787 213,855 — 66,931 176,900 (454,085 ) 204,388 Comprehensive income attributable to noncontrolling interest — — — — (2 ) — (2 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 200,787 $ 213,855 $ — $ 66,931 $ 176,898 $ (454,085 ) $ 204,386 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Six Months Ended June 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 5,973 $ 21,629 $ — $ 99,708 $ (11 ) $ (121,308 ) $ 5,991 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (1,700 ) — 1,307 400 — 7 Unrealized (loss) gain on cash flow hedges — (23,294 ) — 50 — — (23,244 ) Total other comprehensive (loss) income — (24,994 ) — 1,357 400 — (23,237 ) Comprehensive income (loss) 5,973 (3,365 ) — 101,065 389 (121,308 ) (17,246 ) Comprehensive income attributable to noncontrolling interest — — — — (18 ) — (18 ) Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc. $ 5,973 $ (3,365 ) $ — $ 101,065 $ 371 $ (121,308 ) $ (17,264 ) (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 263,258 $ 278,798 $ — $ 93,092 $ 255,012 $ (626,890 ) $ 263,270 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,905 — (1,536 ) (482 ) — (113 ) Unrealized gain (loss) on cash flow hedges — 13,238 — (2 ) — — 13,236 Total other comprehensive income (loss) — 15,143 — (1,538 ) (482 ) — 13,123 Comprehensive income 263,258 293,941 — 91,554 254,530 (626,890 ) 276,393 Comprehensive income attributable to noncontrolling interest — — — — (12 ) — (12 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 263,258 $ 293,941 $ — $ 91,554 $ 254,518 $ (626,890 ) $ 276,381 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash (used in) provided by operating activities $ 185,681 $ — $ — $ 438 $ 5,759 $ — $ 191,878 Cash flows from investing activities: Origination and fundings of loans receivable — — — (5,400 ) (3,423 ) — (8,823 ) Additions to real estate — — — (4,009 ) (4,587 ) — (8,596 ) Repayments of loans receivable — — — 92 10,010 — 10,102 Repayments of preferred equity investments — — — 2,463 — — 2,463 Net proceeds from the sales of real estate — — — 22,605 300,131 — 322,736 Distribution from subsidiaries 2,531 2,531 — — — (5,062 ) — Intercompany financing (240,387 ) 319,921 — — — (79,534 ) — Net cash (used in) provided by investing activities (237,856 ) 322,452 — 15,751 302,131 (84,596 ) 317,882 Cash flows from financing activities: Net repayments of revolving credit facility — (349,000 ) — — — — (349,000 ) Proceeds from issuance of senior unsecured notes — 300,000 — — — — 300,000 Principal payments on senior unsecured notes — (500,000 ) — — — (500,000 ) Principal payments on secured debt — — — — (1,703 ) — (1,703 ) Payments of deferred financing costs — (4,413 ) — — — — (4,413 ) Payments related to extinguishment of debt — (6,895 ) — — — — (6,895 ) Distributions to noncontrolling interest — — — — (73 ) — (73 ) Issuance of common stock, net 211,575 — — — — — 211,575 Dividends paid on common stock (161,735 ) — — — — — (161,735 ) Distribution to parent — (2,531 ) — — (2,531 ) 5,062 — Intercompany financing — 240,387 — (17,230 ) (302,691 ) 79,534 — Net cash provided by (used in) financing activities 49,840 (322,452 ) — (17,230 ) (306,998 ) 84,596 (512,244 ) Net (decrease) increase in cash, cash equivalents and restricted cash (2,335 ) — — (1,041 ) 892 — (2,484 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 198 102 — 300 Cash, cash equivalents and restricted cash, beginning of period 40,835 — — 5,328 13,495 — 59,658 Cash, cash equivalents and restricted cash, end of period $ 38,500 $ — $ — $ 4,485 $ 14,489 $ — $ 57,474 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 204,440 $ — $ — $ 1,014 $ 6,099 $ — $ 211,553 Cash flows from investing activities: Acquisition of real estate — — — (29,711 ) (184,271 ) — (213,982 ) Origination and fundings of loans receivable — — — (1,973 ) (26,184 ) — (28,157 ) Origination and fundings of preferred equity investments — — — (945 ) — — (945 ) Additions to real estate (40 ) — — (4,660 ) (12,117 ) — (16,817 ) Repayments of loans receivable — — — 6,577 32,310 — 38,887 Repayments of preferred equity investments — — — 375 — — 375 Investment in unconsolidated JV — — — — (354,

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. The Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. As of June 30, 2019 , the Company does not expect that compliance with existing environmental laws will have a material adverse effect on the Company’s financial condition and results of operations. Legal Matters From time to time, the Company is party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings where the likelihood of a loss contingency is reasonably possible and the amount or range of reasonably possible losses is material to the Company’s results of operations, financial condition or cash flows.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued. Dividend Declaration On August 7, 2019 , the Company announced that its board of directors declared a quarterly cash dividend of $0.45 per share of common stock. The dividend will be paid on August 30, 2019 to common stockholders of record as of the close of business on August 20, 2019 .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Accounting	The accompanying condensed consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of June 30, 2019 and December 31, 2018 and for the three and six month periods ended June 30, 2019 and 2018 . All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for such periods. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC.
Variable Interest Entities	GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of June 30, 2019 , the Company determined that it was the primary beneficiary of one VIE—a joint venture variable interest entity owning one skilled nursing/transitional care facility—and has consolidated the operations of this entity in the accompanying condensed consolidated financial statements. As of June 30, 2019 , the Company determined that the operations of this entity were not material to the Company’s results of operations, financial condition or cash flows. As it relates to investments in loans, in addition to the Company’s assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At June 30, 2019 , none of the Company’s investments in loans were accounted for as real estate joint ventures.
Use of Estimates	The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Reclassifications	Certain amounts in the Company’s condensed consolidated statements of income for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations or stockholders’ equity of prior periods.
Investment in Unconsolidated Joint Venture	The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s condensed consolidated statements of income. The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its equity method investments may not be recoverable or realized. When indicators of potential impairment are identified, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period and any estimated debt premiums or discounts. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its equity method investment.
Net Investment in Direct Financing Lease	The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying condensed consolidated balance sheets and represents the total undiscounted rental payments of $4.8 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $5.9 million as of June 30, 2019
Recently Issued Accounting Standards Update	Adopted In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases, as amended by subsequent ASUs (“Topic 842”). Topic 842 supersedes guidance related to accounting for leases and provides for the recognition of lease assets and lease liabilities by lessees for those leases previously classified as operating leases under GAAP. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease. Topic 842 does not fundamentally change lessor accounting; however, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within GAAP. Topic 842 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company elected to adopt Topic 842 on January 1, 2019 using the modified retrospective transition method, which permits application of the new standard on the adoption date as opposed to the earliest comparative period presented in the financial statements. In addition, the Company elected to use the available practical expedient package, and therefore did not reassess classification of its existing leases. Additionally, the Company has elected a practical expedient not to separate lease and nonlease components (such as services rendered), which can only be applied to leasing arrangements for which (i) the timing and pattern of transfer are the same for the lease and nonlease components and (ii) the lease component, if accounted for separately, would be classified as an operating lease. Under this practical expedient, contracts that are predominantly lease-based would be accounted for under Topic 842, and contracts that are predominantly service-based would be accounted for under Topic 606, Revenue from Contracts with Customers. As a result of electing this practical expedient, the Company, beginning January 1, 2019, recognizes revenue from its leased skilled nursing/transitional care facilities, senior housing communities, and specialty hospitals and other facilities under Topic 842 and recognizes revenue from its Senior Housing - Managed communities under the Revenue ASUs (codified under Topic 606). Upon adoption of Topic 842, the Company recognized its operating leases for which it is the lessee, mainly its corporate office lease and ground leases, on its consolidated balance sheets, as a lease liability of $10.0 million , included in accounts payable and accrued liabilities on the condensed consolidated balance sheets, and a corresponding right-of-use asset, included in accounts receivable, prepaid expenses and other assets, net on the condensed consolidated balance sheets. As of June 30, 2019 , the balances of the lease liability and the corresponding right-of-use asset were $9.8 million and $9.5 million , respectively. The Company assesses the collectability of rental revenues on a lease-by-lease basis. Prior to the adoption of Topic 842, the Company recorded rental revenue and receivables to the extent those amounts were expected to be collected, irrespective of the Company’s determination of the collectability of substantially all rents over the life of a lease. Upon adoption of Topic 842, if at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Upon adoption of Topic 842 and as of the adoption date, the Company recorded a $32.5 million reduction in equity and accounts receivable due to the cumulative effect of this change. This reduction consisted of $17.5 million of straight-line rental income receivables and $15.0 million of cash rent receivables, although management believes the $15.0 million of cash rent receivables are collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Under Topic 842, future write-offs of receivables and any recoveries of previously written-off receivables will be recorded as adjustments to rental revenue. Furthermore, Topic 842 requires lessors to exclude from variable payments lessor costs paid by lessees directly to third parties. In contrast, lessor costs that are paid by the lessor and reimbursed by the lessee are included in the measurement of variable lease revenue and the associated expense. As a result, the Company recognized $4.8 million and $9.0 million of variable lease revenue and the associated expense during the three and six months ended June 30, 2019 , respectively. Issued but Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in ASU 2016-13 are an improvement because they eliminate the probable initial recognition threshold under current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2018-19”), which amends ASU 2016-13 to clarify that receivables arising from operating leases are not within the scope of Subtopic 326-20, and instead, impairment of such receivables should be accounted for in accordance with Topic 842, Leases. ASU 2016-13 and ASU 2018-19 are effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted as of the fiscal years beginning after December 15, 2018. An entity will apply the amendments in these updates through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 updates the fair value measurement disclosure requirements by (i) eliminating certain requirements, including disclosure of the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements, (ii) modifying certain requirements, including clarifying that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date and (iii) adding certain requirements, including disclosure of the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted for any eliminated or modified disclosures. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted.
Fair Value of Financial Instruments	The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and whose markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments whose markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The carrying values of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities and the Credit Facility are reasonable estimates of fair value because of the short-term maturities of these instruments. Fair values for other financial instruments are derived as follows: Loans receivable : These instruments are presented on the accompanying condensed consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying condensed consolidated balance sheets at their cost and not at fair value. The fair values of the preferred equity investments were estimated using an internal valuation model that considered the expected future cash flows for the preferred equity investments, the underlying collateral value and other credit enhancements. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying condensed consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include forward yield curves and other relevant information. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in Level 2 of the fair value hierarchy. Senior Notes : These instruments are presented on the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s secured debt were estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. As such, the Company classifies these instruments as Level 3.

RECENT REAL ESTATE ACQUISITIO_2

RECENT REAL ESTATE ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Purchase Price Allocation	The consideration was allocated as follows (in thousands): Six Months Ended June 30, 2018 Land $ 24,356 Building and improvements 187,903 Tenant origination and absorption costs intangible assets 1,312 Tenant relationship intangible assets 412 Total consideration $ 213,983

REAL ESTATE PROPERTIES HELD F_2

REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)	6 Months Ended
	Jun. 30, 2019
Real Estate Investments, Net [Abstract]
Real Estate Properties Held for Investment	The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of June 30, 2019 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 304 33,879 $ 3,712,541 $ (259,872 ) $ 3,452,669 Senior Housing - Leased (1) 62 4,011 646,092 (70,563 ) 575,529 Senior Housing - Managed (1) 44 4,470 863,341 (94,969 ) 768,372 Specialty Hospitals and Other 22 1,085 621,236 (39,226 ) 582,010 432 43,445 5,843,210 (464,630 ) 5,378,580 Corporate Level 634 (340 ) 294 $ 5,843,844 $ (464,970 ) $ 5,378,874 As of December 31, 2018 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 335 37,628 $ 4,094,484 $ (224,942 ) $ 3,869,542 Senior Housing - Leased (1) 90 7,332 1,237,790 (125,902 ) 1,111,888 Senior Housing - Managed (1) 23 1,603 301,739 (19,537 ) 282,202 Specialty Hospitals and Other 22 1,085 621,236 (31,640 ) 589,596 470 47,648 6,255,249 (402,021 ) 5,853,228 Corporate Level 634 (317 ) 317 $ 6,255,883 $ (402,338 ) $ 5,853,545 (1) During the six months ended June 30, 2019 , the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio. June 30, 2019 December 31, 2018 Building and improvements $ 5,017,138 $ 5,388,102 Furniture and equipment 233,775 237,145 Land improvements 1,398 1,254 Land 591,533 629,382 5,843,844 6,255,883 Accumulated depreciation (464,970 ) (402,338 ) $ 5,378,874 $ 5,853,545
Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases	The future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows (in thousands): As of June 30, 2019 July 1 through December 31, 2019 $ 217,991 2020 423,770 2021 420,407 2022 396,598 2023 378,439 Thereafter 2,007,117 $ 3,844,322
Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases	As of December 31, 2018 2019 $ 465,766 2020 456,207 2021 452,346 2022 454,216 2023 437,277 Thereafter 2,407,064 $ 4,672,876

LOANS RECEIVABLE AND OTHER IN_2

LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Loans Receivable and Other Investments	As of June 30, 2019 and December 31, 2018 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): June 30, 2019 Investment Quantity as of June 30, 2019 Property Type Principal Balance as of June 30, 2019 (1) Book Value as of June 30, 2019 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date as of June 30, 2019 Loans Receivable: Mortgage 1 Specialty Hospital $ 19,000 $ 19,000 $ 18,577 10.0 % 10.0 % 01/31/27 Construction 2 Senior Housing 5,363 5,418 4,629 8.0 % 7.7 % 04/30/21- 09/30/22 Mezzanine — Skilled Nursing — — 2,188 N/A N/A N/A Other 17 Multiple 48,365 44,418 45,324 6.8 % 7.3 % 02/28/19- 08/31/28 20 72,728 68,836 70,718 7.7 % 8.1 % Loan loss reserve — (1,960 ) (1,258 ) $ 72,728 $ 66,876 $ 69,460 Other Investments: Preferred Equity 9 Skilled Nursing / Senior Housing 43,915 44,327 44,262 12.0 % 12.0 % N/A Total 29 $ 116,643 $ 111,203 $ 113,722 9.3 % 9.6 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.
Changes in Accretable Yield of Loans with Deteriorated Credit Quality	The following table presents changes in the accretable yield for the three and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Accretable yield, beginning of period $ 198 $ 1,883 $ 449 $ 2,483 Accretion recognized in earnings (86 ) (1,529 ) (304 ) (2,129 ) Reduction due to payoff — — (33 ) — Net reclassification from nonaccretable difference — 727 — 727 Accretable yield, end of period $ 112 $ 1,081 $ 112 $ 1,081

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of Title Maturity Date June 30, 2019 (1) December 31, 2018 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ — $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 200,000 200,000 4.80% senior unsecured notes due 2024 (“2024 Notes”) June 1, 2024 300,000 — 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 500,000 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 100,000 $ 1,100,000 $ 1,300,000 (1) Principal balance does not include premium, net of $14.0 million and deferred financing costs, net of $7.5 million as of June 30, 2019 and does not include premium, net of $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 2018 . The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal Balance as of (1) Principal Balance as of (1) Weighted Average (2) Maturity Date Fixed Rate $ 116,421 $ 117,464 3.67 % December 2021 - (1) Principal balance does not include deferred financing costs, net of $ 1.7 million and $1.8 million as of June 30, 2019 and December 31, 2018 , respectively. (2) Weighted average effective interest rate includes private mortgage insurance.
Schedule of Maturities for Outstanding Debt	The following is a schedule of maturities for the Company’s outstanding debt as of June 30, 2019 (in thousands): Secured Indebtedness Revolving Credit Facility (1) Term Loans Senior Notes Total July 1 through December 31, 2019 $ 1,735 $ — $ — $ — $ 1,735 2020 3,552 — 200,000 — 203,552 2021 18,751 275,000 — — 293,751 2022 3,185 — 995,487 — 998,672 2023 3,282 — — 200,000 203,282 Thereafter 85,916 — — 900,000 985,916 Total Debt 116,421 275,000 1,195,487 1,100,000 2,686,908 Premium, net — — — 13,980 13,980 Deferred financing costs, net (1,746 ) — (5,713 ) (7,462 ) (14,921 ) Total Debt, Net $ 114,675 $ 275,000 $ 1,189,774 $ 1,106,518 $ 2,685,967 (1) Revolving Credit Facility is subject to two six -month extension options.

DERIVATIVE AND HEDGING INSTRU_2

DERIVATIVE AND HEDGING INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amount of Derivatives Instruments	The following presents the notional amount of derivative instruments as of the dates indicated (in thousands): June 30, 2019 December 31, 2018 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 1,490,000 $ 1,045,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 54,941 $ 55,401 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 1,359 $ 899 (1) Balance includes four forward starting interest rate swaps and one forward starting interest rate collar with an effective date of August 2020 and two forward starting interest rate swaps and one forward starting interest rate collar with an effective date of January 2021 that were entered into as of June 30, 2019 . The forward starting interest rate swaps and forward starting interest rate collars have an aggregate initial notional amount of $645.0 million accreting to $845.0 million in January 2023.
Derivative and Financial Instruments Designated as Hedging Instruments	The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at June 30, 2019 and December 31, 2018 (dollars in thousands): Count as of June 30, 2019 Fair Value Maturity Dates Type Designation June 30, 2019 December 31, 2018 Balance Sheet Location Assets: Interest rate swaps Cash flow 10 $ 7,704 $ 25,184 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Forward starting interest rate swaps Cash flow 6 128 — 2024 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 2,796 4,160 2025 Accounts receivable, prepaid expenses and other assets, net $ 10,628 $ 29,344 Liabilities: Forward starting interest rate swaps Cash flow — $ — $ 4,529 2029 Accounts payable and accrued liabilities Forward starting interest rate collars Cash flow 2 73 — 2024 Accounts payable and accrued liabilities CAD term loan Net investment 1 95,488 91,700 2022 Term loans, net $ 95,561 $ 96,229
Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity	The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and six months ended June 30, 2019 and 2018 (in thousands): (Loss) Gain Recognized in Other Comprehensive (Loss) Income Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ (8,126 ) $ 4,009 $ (19,737 ) $ 13,132 Interest expense Net Investment Hedges: Foreign currency products (42 ) 898 (1,276 ) 1,505 N/A CAD term loan (1,863 ) 1,750 (3,788 ) 4,425 N/A $ (10,031 ) $ 6,657 $ (24,801 ) $ 19,062 Gain Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ 1,695 $ 633 $ 3,608 $ 583 Interest expense
Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives - Assets	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2019 and December 31, 2018 (in thousands): As of June 30, 2019 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 10,628 $ — $ 10,628 $ (73 ) $ — $ 10,555 Offsetting Liabilities: Derivatives $ 73 $ — $ 73 $ (73 ) $ — $ — As of December 31, 2018 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460
Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives - Liabilities	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2019 and December 31, 2018 (in thousands): As of June 30, 2019 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 10,628 $ — $ 10,628 $ (73 ) $ — $ 10,555 Offsetting Liabilities: Derivatives $ 73 $ — $ 73 $ (73 ) $ — $ — As of December 31, 2018 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Face Values, Carrying Amounts and Fair Values of Financial Instruments	The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of June 30, 2019 and December 31, 2018 whose carrying amounts do not approximate their fair value (in thousands): June 30, 2019 December 31, 2018 Face (1) Carrying Amount (2) Fair Value Face (1) Carrying (2) Fair Value Financial assets: Loans receivable $ 72,728 $ 66,876 $ 63,977 $ 96,492 $ 69,460 $ 65,797 Preferred equity investments 43,915 44,327 44,280 43,851 44,262 43,825 Financial liabilities: Senior Notes 1,100,000 1,106,518 1,143,537 1,300,000 1,307,394 1,270,877 Secured indebtedness 116,421 114,675 108,446 117,464 115,679 101,820 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs.
Fair Value of Financial Instruments	The Company determined the fair value of financial instruments as of June 30, 2019 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Loans receivable $ 63,977 $ — $ — $ 63,977 Preferred equity investments 44,280 — — 44,280 Financial liabilities: Senior Notes 1,143,537 — 1,143,537 — Secured indebtedness 108,446 — — 108,446
Items Measured at Fair Value on a Recurring Basis	During the six months ended June 30, 2019 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Recurring Basis: Financial assets: Interest rate swaps $ 7,704 $ — $ 7,704 $ — Forward starting interest rate swaps 128 — 128 — Cross currency interest rate swaps 2,796 — 2,796 — Financial liabilities: Forward starting interest rate collars 73 — 73 —

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Cash Dividends on Common Stock Declared and Paid	The following table lists the cash dividends on common stock declared and paid by the Company during the six months ended June 30, 2019 : Declaration Date Record Date Amount Per Share Dividend Payable Date February 5, 2019 February 15, 2019 $ 0.45 February 28, 2019 May 8, 2019 May 20, 2019 $ 0.45 May 31, 2019
Accumulated Other Comprehensive (Loss) Income	The following is a summary of the Company’s accumulated other comprehensive (loss) income (in thousands): June 30, 2019 December 31, 2018 Foreign currency translation loss $ (2,186 ) $ (2,193 ) Unrealized (loss) gain on cash flow hedges (8,750 ) 14,494 Total accumulated other comprehensive (loss) income $ (10,936 ) $ 12,301

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table illustrates the computation of basic and diluted earnings per share for the three and six months ended June 30, 2019 and 2018 (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Numerator Net income attributable to common stockholders $ 83,677 $ 193,580 $ 5,973 $ 253,490 Denominator Basic weighted average common shares and common equivalents 181,567,464 178,314,750 179,984,959 178,304,733 Dilutive restricted stock units 686,636 369,274 652,100 296,056 Diluted weighted average common shares 182,254,100 178,684,024 180,637,059 178,600,789 Net income attributable to common stockholders, per: Basic common share $ 0.46 $ 1.09 $ 0.03 $ 1.42 Diluted common share $ 0.46 $ 1.08 $ 0.03 $ 1.42

SUMMARIZED CONDENSED CONSOLID_2

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2019
Summarized Condensed Consolidating Information [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 294 $ — $ — $ 1,423,107 $ 3,955,473 $ — $ 5,378,874 Loans receivable and other investments, net (726 ) — — 55,453 56,476 — 111,203 Investment in unconsolidated joint venture — — — — 328,207 — 328,207 Cash and cash equivalents 38,500 — — 2,604 6,491 — 47,595 Restricted cash — — — 1,881 7,998 — 9,879 Lease intangible assets, net — — — 9,299 99,578 — 108,877 Accounts receivable, prepaid expenses and other assets, net 4,433 17,873 — 29,119 95,671 (8,552 ) 138,544 Intercompany 1,993,632 2,035,256 — — — (4,028,888 ) — Investment in subsidiaries 1,253,100 1,690,158 — 34,271 — (2,977,529 ) — Total assets $ 3,289,233 $ 3,743,287 $ — $ 1,555,734 $ 4,549,894 $ (7,014,969 ) $ 6,123,179 Liabilities Secured debt, net $ — $ — $ — $ — $ 114,675 $ — $ 114,675 Revolving credit facility — 275,000 — — — — 275,000 Term loans, net — 1,095,102 — 94,672 — — 1,189,774 Senior unsecured notes, net — 1,106,518 — — — — 1,106,518 Accounts payable and accrued liabilities 33,135 13,567 — 2,002 60,483 (8,552 ) 100,635 Lease intangible liabilities, net — — — — 76,201 — 76,201 Intercompany — — — 664,912 3,363,976 (4,028,888 ) — Total liabilities 33,135 2,490,187 — 761,586 3,615,335 (4,037,440 ) 2,862,803 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,256,098 1,253,100 — 794,148 930,281 (2,977,529 ) 3,256,098 Noncontrolling interests — — — — 4,278 — 4,278 Total equity 3,256,098 1,253,100 — 794,148 934,559 (2,977,529 ) 3,260,376 Total liabilities and equity $ 3,289,233 $ 3,743,287 $ — $ 1,555,734 $ 4,549,894 $ (7,014,969 ) $ 6,123,179 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 317 $ — $ — $ 1,453,451 $ 4,399,777 $ — $ 5,853,545 Loans receivable and other investments, net (560 ) — — 50,534 63,748 — 113,722 Investment in unconsolidated joint venture — — — — 340,120 — 340,120 Cash and cash equivalents 40,835 — — 3,508 5,887 — 50,230 Restricted cash — — — 1,820 7,608 — 9,428 Lease intangible assets, net — — — 13,947 117,150 — 131,097 Accounts receivable, prepaid expenses and other assets, net 798 37,075 — 58,704 81,603 (11,019 ) 167,161 Intercompany 1,972,059 2,646,669 — — — (4,618,728 ) — Investment in subsidiaries 1,258,715 1,629,795 — 33,083 — (2,921,593 ) — Total assets $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 Liabilities Secured debt, net $ — $ — $ — $ — $ 115,679 $ — $ 115,679 Revolving credit facility — 624,000 — — — — 624,000 Term loans, net — 1,094,177 — 90,753 — — 1,184,930 Senior unsecured notes, net — 1,307,394 — — — — 1,307,394 Accounts payable and accrued liabilities 21,750 29,253 — 2,570 52,273 (11,019 ) 94,827 Lease intangible liabilities, net — — — — 83,726 — 83,726 Intercompany — — — 810,394 3,808,334 (4,618,728 ) — Total liabilities 21,750 3,054,824 — 903,717 4,060,012 (4,629,747 ) 3,410,556 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,250,414 1,258,715 — 711,330 951,548 (2,921,593 ) 3,250,414 Noncontrolling interests — — — — 4,333 — 4,333 Total equity 3,250,414 1,258,715 — 711,330 955,881 (2,921,593 ) 3,254,747 Total liabilities and equity $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.
Condensed Consolidating Statement of Income	CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 30,097 $ 92,073 $ (9,370 ) $ 112,800 Interest and other income 91 1,896 — 68,198 2,206 (1,896 ) 70,495 Resident fees and services — — — — 36,071 — 36,071 Total revenues 91 1,896 — 98,295 130,350 (11,266 ) 219,366 Expenses: Depreciation and amortization 12 — — 15,559 33,905 — 49,476 Interest — 31,616 — 2,666 1,222 (1,896 ) 33,608 Triple-net portfolio operating expenses — — — 156 6,084 — 6,240 Senior housing - managed portfolio operating expenses — — — — 33,609 (9,370 ) 24,239 General and administrative 7,706 31 — 1 321 — 8,059 Provision for doubtful accounts, straight-line rental income and loan losses 193 — — — — — 193 Impairment of real estate — — — — 2,002 — 2,002 Total expenses 7,911 31,647 — 18,382 77,143 (11,266 ) 123,817 Other (expense) income: Loss on extinguishment of debt — (10,119 ) — — — — (10,119 ) Other (expense) income — (109 ) — 108 — — (1 ) Net gain on sales of real estate — — — 190 2,565 — 2,755 Total other (expense) income — (10,228 ) — 298 2,565 — (7,365 ) Income in subsidiary 91,406 131,385 — 1,691 — (224,482 ) — Income before loss from unconsolidated joint venture and income tax expense 83,586 91,406 — 81,902 55,772 (224,482 ) 88,184 Loss from unconsolidated joint venture — — — — (3,647 ) — (3,647 ) Income tax benefit (expense) 91 — — (542 ) (403 ) — (854 ) Net income 83,677 91,406 — 81,360 51,722 (224,482 ) 83,683 Net income attributable to noncontrolling interests — — — — (6 ) — (6 ) Net income attributable to common stockholders $ 83,677 $ 91,406 $ — $ 81,360 $ 51,716 $ (224,482 ) $ 83,677 Net income attributable to common stockholders, per: Basic common share $ 0.46 Diluted common share $ 0.46 Weighted-average number of common shares outstanding, basic 181,567,464 Weighted-average number of common shares outstanding, diluted 182,254,100 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 36,355 $ 112,194 $ (4,320 ) $ 144,229 Interest and other income 40 96 — 1,180 3,333 (96 ) 4,553 Resident fees and services — — — — 17,530 — 17,530 Total revenues 40 96 — 37,535 133,057 (4,416 ) 166,312 Expenses: Depreciation and amortization 222 — — 11,795 34,811 — 46,828 Interest — 33,415 — 810 2,628 (96 ) 36,757 Senior housing - managed portfolio operating expenses — — — — 16,619 (4,320 ) 12,299 General and administrative 8,121 14 — 368 880 — 9,383 Provision for (recovery of) doubtful accounts, straight-line rental income and loan losses 311 — — (985 ) — — (674 ) Impairment of real estate — — — 881 — — 881 Total expenses 8,654 33,429 — 12,869 54,938 (4,416 ) 105,474 Other income: Other income (expense) — 32 — (32 ) — — — Net gain on sales of real estate — — — 41,520 101,383 — 142,903 Total other income — 32 — 41,488 101,383 — 142,903 Income in subsidiary 209,456 242,758 — 1,871 — (454,085 ) — Income before loss from unconsolidated joint venture and income tax expense 200,842 209,457 — 68,025 179,502 (454,085 ) 203,741 Loss from unconsolidated joint venture — — — — (2,347 ) — (2,347 ) Income tax expense (55 ) (1 ) — (489 ) (60 ) — (605 ) Net income 200,787 209,456 — 67,536 177,095 (454,085 ) 200,789 Net income attributable to noncontrolling interests — — — — (2 ) — (2 ) Net income attributable to Sabra Health Care REIT, Inc. 200,787 209,456 — 67,536 177,093 (454,085 ) 200,787 Preferred stock dividends (7,207 ) — — — — — (7,207 ) Net income attributable to common stockholders $ 193,580 $ 209,456 $ — $ 67,536 $ 177,093 $ (454,085 ) $ 193,580 Net income attributable to common stockholders, per: Basic common share $ 1.09 Diluted common share $ 1.08 Weighted-average number of common shares outstanding, basic 178,314,750 Weighted-average number of common shares outstanding, diluted 178,684,024 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 59,398 $ 183,536 $ (13,747 ) $ 229,187 Interest and other income 120 1,991 — 69,429 4,271 (1,991 ) 73,820 Resident fees and services — — — — 53,132 — 53,132 Total revenues 120 1,991 — 128,827 240,939 (15,738 ) 356,139 Expenses: Depreciation and amortization 24 — — 27,241 67,160 — 94,425 Interest — 65,891 — 3,567 2,459 (1,991 ) 69,926 Triple-net portfolio operating expenses — — — 1,170 10,359 — 11,529 Senior housing - managed portfolio operating expenses — — — — 50,026 (13,747 ) 36,279 General and administrative 15,236 62 — 276 669 — 16,243 Provision for doubtful accounts, straight-line rental income and loan losses 166 — — — 1,234 — 1,400 Impairment of real estate — — — — 105,136 — 105,136 Total expenses 15,426 65,953 — 32,254 237,043 (15,738 ) 334,938 Other (expense) income: Loss on extinguishment of debt — (10,119 ) — — — — (10,119 ) Other (expense) income — (608 ) — 601 177 — 170 Net (loss) gain on sales of real estate — — — (180 ) 1,415 — 1,235 Total other (expense) income — (10,727 ) — 421 1,592 — (8,714 ) Income in subsidiary 21,629 96,318 — 3,361 — (121,308 ) — Income before loss from unconsolidated joint venture and income tax expense 6,323 21,629 — 100,355 5,488 (121,308 ) 12,487 Loss from unconsolidated joint venture — — — — (5,030 ) — (5,030 ) Income tax expense (350 ) — — (647 ) (469 ) — (1,466 ) Net income 5,973 21,629 — 99,708 (11 ) (121,308 ) 5,991 Net income attributable to noncontrolling interests — — — — (18 ) — (18 ) Net income attributable to common stockholders $ 5,973 $ 21,629 $ — $ 99,708 $ (29 ) $ (121,308 ) $ 5,973 Net income attributable to common stockholders, per: Basic common share $ 0.03 Diluted common share $ 0.03 Weighted-average number of common shares outstanding, basic 179,984,959 Weighted-average number of common shares outstanding, diluted 180,637,059 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 71,569 $ 225,468 $ (8,553 ) $ 288,484 Interest and other income 50 208 — 2,413 6,428 (208 ) 8,891 Resident fees and services — — — — 35,023 — 35,023 Total revenues 50 208 — 73,982 266,919 (8,761 ) 332,398 Expenses: Depreciation and amortization 443 — — 24,130 70,260 — 94,833 Interest — 65,980 — 1,601 5,202 (208 ) 72,575 Senior housing - managed portfolio operating expenses — — — — 32,976 (8,553 ) 24,423 General and administrative 14,279 29 — 783 2,489 — 17,580 Provision for (recovery of) doubtful accounts, straight-line rental income and loan losses 2,492 — — (1,956 ) 3 — 539 Impairment of real estate — — — 1,413 — — 1,413 Total expenses 17,214 66,009 — 25,971 110,930 (8,761 ) 211,363 Other income: Other income 1,977 233 — 378 232 — 2,820 Net gain on sales of real estate — — — 41,520 100,911 — 142,431 Total other income 1,977 233 — 41,898 101,143 — 145,251 Income in subsidiary 278,798 344,367 — 3,725 — (626,890 ) — Income before loss from unconsolidated joint venture and income tax expense 263,611 278,799 — 93,634 257,132 (626,890 ) 266,286 Loss from unconsolidated joint venture — — — — (1,901 ) — (1,901 ) Income tax expense (353 ) (1 ) — (542 ) (219 ) — (1,115 ) Net income 263,258 278,798 — 93,092 255,012 (626,890 ) 263,270 Net income attributable to noncontrolling interests — — — — (12 ) — (12 ) Net income attributable to Sabra Health Care REIT, Inc. 263,258 278,798 — 93,092 255,000 (626,890 ) 263,258 Preferred stock dividends (9,768 ) — — — — — (9,768 ) Net income attributable to common stockholders $ 253,490 $ 278,798 $ — $ 93,092 $ 255,000 $ (626,890 ) $ 253,490 Net income attributable to common stockholders, per: Basic common share $ 1.42 Diluted common share $ 1.42 Weighted-average number of common shares outstanding, basic 178,304,733 Weighted-average number of common shares outstanding, diluted 178,600,789 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.
Condensed Consolidating Statement of Comprehensive (Loss) Income	CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended June 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 83,677 $ 91,406 $ — $ 81,360 $ 51,722 $ (224,482 ) $ 83,683 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (264 ) — 629 202 — 567 Unrealized (loss) gain on cash flow hedges — (9,808 ) — 52 — — (9,756 ) Total other comprehensive (loss) income — (10,072 ) — 681 202 — (9,189 ) Comprehensive income 83,677 81,334 — 82,041 51,924 (224,482 ) 74,494 Comprehensive income attributable to noncontrolling interest — — — — (6 ) — (6 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 83,677 $ 81,334 $ — $ 82,041 $ 51,918 $ (224,482 ) $ 74,488 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 200,787 $ 209,456 $ — $ 67,536 $ 177,095 $ (454,085 ) $ 200,789 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,064 — (608 ) (195 ) — 261 Unrealized gain on cash flow hedges — 3,335 — 3 — — 3,338 Total other comprehensive income (loss) — 4,399 — (605 ) (195 ) — 3,599 Comprehensive income 200,787 213,855 — 66,931 176,900 (454,085 ) 204,388 Comprehensive income attributable to noncontrolling interest — — — — (2 ) — (2 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 200,787 $ 213,855 $ — $ 66,931 $ 176,898 $ (454,085 ) $ 204,386 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Six Months Ended June 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 5,973 $ 21,629 $ — $ 99,708 $ (11 ) $ (121,308 ) $ 5,991 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (1,700 ) — 1,307 400 — 7 Unrealized (loss) gain on cash flow hedges — (23,294 ) — 50 — — (23,244 ) Total other comprehensive (loss) income — (24,994 ) — 1,357 400 — (23,237 ) Comprehensive income (loss) 5,973 (3,365 ) — 101,065 389 (121,308 ) (17,246 ) Comprehensive income attributable to noncontrolling interest — — — — (18 ) — (18 ) Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc. $ 5,973 $ (3,365 ) $ — $ 101,065 $ 371 $ (121,308 ) $ (17,264 ) (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 263,258 $ 278,798 $ — $ 93,092 $ 255,012 $ (626,890 ) $ 263,270 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,905 — (1,536 ) (482 ) — (113 ) Unrealized gain (loss) on cash flow hedges — 13,238 — (2 ) — — 13,236 Total other comprehensive income (loss) — 15,143 — (1,538 ) (482 ) — 13,123 Comprehensive income 263,258 293,941 — 91,554 254,530 (626,890 ) 276,393 Comprehensive income attributable to noncontrolling interest — — — — (12 ) — (12 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 263,258 $ 293,941 $ — $ 91,554 $ 254,518 $ (626,890 ) $ 276,381 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash (used in) provided by operating activities $ 185,681 $ — $ — $ 438 $ 5,759 $ — $ 191,878 Cash flows from investing activities: Origination and fundings of loans receivable — — — (5,400 ) (3,423 ) — (8,823 ) Additions to real estate — — — (4,009 ) (4,587 ) — (8,596 ) Repayments of loans receivable — — — 92 10,010 — 10,102 Repayments of preferred equity investments — — — 2,463 — — 2,463 Net proceeds from the sales of real estate — — — 22,605 300,131 — 322,736 Distribution from subsidiaries 2,531 2,531 — — — (5,062 ) — Intercompany financing (240,387 ) 319,921 — — — (79,534 ) — Net cash (used in) provided by investing activities (237,856 ) 322,452 — 15,751 302,131 (84,596 ) 317,882 Cash flows from financing activities: Net repayments of revolving credit facility — (349,000 ) — — — — (349,000 ) Proceeds from issuance of senior unsecured notes — 300,000 — — — — 300,000 Principal payments on senior unsecured notes — (500,000 ) — — — (500,000 ) Principal payments on secured debt — — — — (1,703 ) — (1,703 ) Payments of deferred financing costs — (4,413 ) — — — — (4,413 ) Payments related to extinguishment of debt — (6,895 ) — — — — (6,895 ) Distributions to noncontrolling interest — — — — (73 ) — (73 ) Issuance of common stock, net 211,575 — — — — — 211,575 Dividends paid on common stock (161,735 ) — — — — — (161,735 ) Distribution to parent — (2,531 ) — — (2,531 ) 5,062 — Intercompany financing — 240,387 — (17,230 ) (302,691 ) 79,534 — Net cash provided by (used in) financing activities 49,840 (322,452 ) — (17,230 ) (306,998 ) 84,596 (512,244 ) Net (decrease) increase in cash, cash equivalents and restricted cash (2,335 ) — — (1,041 ) 892 — (2,484 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 198 102 — 300 Cash, cash equivalents and restricted cash, beginning of period 40,835 — — 5,328 13,495 — 59,658 Cash, cash equivalents and restricted cash, end of period $ 38,500 $ — $ — $ 4,485 $ 14,489 $ — $ 57,474 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 204,440 $ — $ — $ 1,014 $ 6,099 $ — $ 211,553 Cash flows from investing activities: Acquisition of real estate — — — (29,711 ) (184,271 ) — (213,982 ) Origination and fundings of loans receivable — — — (1,973 ) (26,184 ) — (28,157 ) Origination and fundings of preferred equity investments — — — (945 ) — — (945 ) Additions to real estate (40 ) — — (4,660 ) (12,117 ) — (16,817 ) Repayments of loans receivable — — — 6,577 32,310 — 38,887 Repayments of preferred equity investments — — — 375 — — 375 Investment in unconsolidated JV — — — — (354,461 ) — (354,461 ) Net proceeds from the sales of real estate — — — 78,072 200,129 — 278,201 Distribution from subsidiaries 2,669 2,669 — — — (5,338 ) — Intercompany financing (378,485 ) (413,473 ) — — — 791,958 — Net cash (used in) provided by investing activities (375,856 ) (410,804 ) — 47,735 (344,594 ) 786,620 (296,899 ) Cash flows from financing activities: Net borrowings from revolving credit facility — 35,000 — — — — 35,000 Principal payments on secured debt — — — — (2,128 ) — (2,128 ) Payments of deferred financing costs — (12 ) — — — — (12 ) Distributions to noncontrolling interest — — — — (72 ) — (72 ) Preferred stock redemption (143,750 ) — — — — — (143,750 ) Issuance of common stock, net (499 ) — — — — — (499 ) Dividends paid on common and preferred stock (164,736 ) — — — — — (164,736 ) Distribution to parent — (2,669 ) — — (2,669 ) 5,338 — Intercompany financing — 378,485 — (8,130 ) 421,603 (791,958 ) — Net cash (used in) provided by financing activities (308,985 ) 410,804 — (8,130 ) 416,734 (786,620 ) (276,197 ) Net (decrease) increase in cash, cash equivalents and restricted cash (480,401 ) — — 40,619 78,239 — (361,543 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — (146 ) (106 ) — (252 ) Cash, cash equivalents and restricted cash, beginning of period 511,670 — — 6,761 69,018 — 587,449 Cash, cash equivalents and restricted cash, end of period $ 31,269 $ — $ — $ 47,234 $ 147,151 $ — $ 225,654 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Principles of Consolidation and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2019variable_interest_entityInvestment
Variable Interest Entity [Line Items]
Number of investments in loans accounted for as real estate joint ventures | Investment	0
Primary Beneficiary
Variable Interest Entity [Line Items]
Number of VIEs	1
Skilled Nursing Transitional Care Facilities | Primary Beneficiary
Variable Interest Entity [Line Items]
Number of VIEs	1

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Investment in Unconsolidated Joint Venture (Details) $ in Thousands	Jan. 02, 2018USD ($)Propertydirector	Jun. 30, 2019USD ($)Property	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in joint venture		$ 328,207	$ 340,120
Enlivant Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of properties | Property	172
Gross proceeds from sale of senior housing communities		$ 6,300
Enlivant Joint Venture | Senior Housing Communities
Schedule of Equity Method Investments [Line Items]
Number of senior housing communites sold | Property		2
Enlivant Joint Venture
Schedule of Equity Method Investments [Line Items]
Cash contributed to acquire equity interests	$ 352,700
Equity interest in joint venture	49.00%
Outstanding indebtedness	$ 791,300
Net working capital	$ 22,900
Number of directors appointed by Sabra | director	3
Number of directors on board | director	7
Aggregate net loss on sale of real estate		$ 1,700
Investment in joint venture		$ 328,200

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Investment in Direct Financing Lease (Details) - Skilled Nursing Transitional Care Facilities $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)Property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)Property	Jun. 30, 2018USD ($)
Lessor, Lease, Description [Line Items]
Net investment in direct financing lease	$ 23.6		$ 23.6
Number of properties in direct financing lease | Property	1		1
Undiscounted rental payments	$ 4.8		$ 4.8
Unguaranteed residual value	24.7		24.7
Unearned lease income	5.9		5.9
Lease income	0.7	$ 0.6	1.3	$ 1.3
Minimum lease payments contractually due under direct financing leases
Due in the remainder of 2019	1.1		1.1
Due in 2020	2.3		2.3
Due in 2021	$ 2.1		$ 2.1

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Issued Accounting Update (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability	$ 9,800	$ 9,800
Operating lease right-of-use asset	9,500	9,500
Variable lease revenue	4,800	9,000
Variable lease expense	$ 4,800	$ 9,000
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability			$ 10,000
Operating lease right-of-use asset			10,000
Reduction to equity and accounts receivable, prepaid expenses and other assets, net, as of the date of adoption			32,502
Straight-line rental income receivables			17,500
Cash rent receivable			$ 15,000

RECENT REAL ESTATE ACQUISITIO_3

RECENT REAL ESTATE ACQUISITIONS - Narrative (Details) - Recent Real Estate Acquisitions $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2019Property	Jun. 30, 2018USD ($)Property
Business Acquisition [Line Items]
Number of acquired properties		0
Total revenues | $	$ 10.7		$ 20.4
Net income attributable to common stockholders | $	$ 1.6		$ 2.5
Tenant Origination and Absorption Costs
Business Acquisition [Line Items]
Weighted average amortization period of finite-lived intangible assets			13 years
Tenant Relationship
Business Acquisition [Line Items]
Weighted average amortization period of finite-lived intangible assets			22 years
Senior Housing - Managed
Business Acquisition [Line Items]
Number of acquired properties			11
Senior Housing Facilities
Business Acquisition [Line Items]
Number of acquired properties			5
Skilled Nursing/Transitional Care
Business Acquisition [Line Items]
Number of acquired properties			2

RECENT REAL ESTATE ACQUISITIO_4

RECENT REAL ESTATE ACQUISITIONS - Purchase Price Allocation for Recent Real Estate Acquisitions (Details) - Recent Real Estate Acquisitions $ in Thousands	Jun. 30, 2018USD ($)
Business Acquisition [Line Items]
Land	$ 24,356
Building and improvements	187,903
Total consideration	213,983
Tenant origination and absorption costs intangible assets
Business Acquisition [Line Items]
Tenant intangible assets	1,312
Tenant relationship intangible assets
Business Acquisition [Line Items]
Tenant intangible assets	$ 412

REAL ESTATE PROPERTIES HELD F_3

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Real Estate Properties Held for Investment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)Bedfacility	Dec. 31, 2018USD ($)Bedfacility
Real Estate Properties [Line Items]
Building and improvements	$ 5,017,138	$ 5,388,102
Furniture and equipment	233,775	237,145
Land improvements	1,398	1,254
Land	591,533	629,382
Total Real Estate at Cost	5,843,844	6,255,883
Accumulated Depreciation	(464,970)	(402,338)
Total Real Estate Investments, Net	$ 5,378,874	$ 5,853,545
Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	432	470
Number of Beds/Units | Bed	43,445	47,648
Total Real Estate at Cost	$ 5,843,210	$ 6,255,249
Accumulated Depreciation	(464,630)	(402,021)
Total Real Estate Investments, Net	5,378,580	5,853,228
Corporate Level
Real Estate Properties [Line Items]
Total Real Estate at Cost	634	634
Accumulated Depreciation	(340)	(317)
Total Real Estate Investments, Net	$ 294	$ 317
Skilled Nursing/Transitional Care | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	304	335
Number of Beds/Units | Bed	33,879	37,628
Total Real Estate at Cost	$ 3,712,541	$ 4,094,484
Accumulated Depreciation	(259,872)	(224,942)
Total Real Estate Investments, Net	$ 3,452,669	$ 3,869,542
Senior Housing - Leased | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	62	90
Number of Beds/Units | Bed	4,011	7,332
Total Real Estate at Cost	$ 646,092	$ 1,237,790
Accumulated Depreciation	(70,563)	(125,902)
Total Real Estate Investments, Net	$ 575,529	$ 1,111,888
Senior Housing - Managed
Real Estate Properties [Line Items]
Number of senior housing communities transferred into portfolio | facility	21
Senior Housing - Managed | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	44	23
Number of Beds/Units | Bed	4,470	1,603
Total Real Estate at Cost	$ 863,341	$ 301,739
Accumulated Depreciation	(94,969)	(19,537)
Total Real Estate Investments, Net	$ 768,372	$ 282,202
Specialty Hospitals and Other | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	22	22
Number of Beds/Units | Bed	1,085	1,085
Total Real Estate at Cost	$ 621,236	$ 621,236
Accumulated Depreciation	(39,226)	(31,640)
Total Real Estate Investments, Net	$ 582,010	$ 589,596

REAL ESTATE PROPERTIES HELD F_4

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Operating Leases (Details) $ in Thousands	Apr. 01, 2019USD ($)facility	May 31, 2019facility	Jun. 30, 2019USD ($)facility	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)facility	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 19, 2018facility
Real Estate Properties [Line Items]
Weighted-average remaining term of operating leases			8 years			8 years
Security deposit liability			$ 10,800			$ 10,800		$ 12,400
Letters of credit deposited			78,000			78,000		98,000
Tenant deposits for future real estate taxes, insurance expenditures, and tenant improvements			15,000			15,000		$ 17,500
Portion of settlement applied to post-petition rent			500			6,200
Impairment of real estate			$ 2,002		$ 881	105,136	$ 1,413
Non-cash lease termination income						$ 9,725	$ 0
Minimum
Real Estate Properties [Line Items]
Operating lease expiration term			1 year			1 year
Maximum
Real Estate Properties [Line Items]
Operating lease expiration term			14 years			14 years
Holiday
Real Estate Properties [Line Items]
Number of properties subject to the master lease | facility									21
Lease termination income	$ 66,900
Cash consideration received	57,200
Non-cash lease termination income	$ 9,700
Senior Care Centers
Real Estate Properties [Line Items]
Settlement amount				$ 9,500
Senior Care Centers Sale Facilities
Real Estate Properties [Line Items]
Impairment of real estate						$ 92,200
Impairment of real estate related to indemnity						$ 10,200
Senior Care Centers Sale Facilities | Senior Care Centers
Real Estate Properties [Line Items]
Number of facilities sold | facility	28
Aggregate sale price of facility	$ 282,500
Senior Housing - Managed Communities | Operating Segments
Real Estate Properties [Line Items]
Number of properties | facility			44			44
Skilled Nursing Transitional Care Facilities
Real Estate Properties [Line Items]
Impairment of real estate						$ 12,900
Skilled Nursing Transitional Care Facilities | Senior Care Centers Sale Facilities
Real Estate Properties [Line Items]
Number of facilities sold | facility	26
Number of properties transitioned | facility		8
Number of properties expected to be sold | facility		2
Senior Housing Facilities | Senior Care Centers Sale Facilities
Real Estate Properties [Line Items]
Number of facilities sold | facility	2

REAL ESTATE PROPERTIES HELD F_5

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases:
2019	$ 217,991
2020	423,770
2021	420,407
2022	396,598
2023	378,439
Thereafter	2,007,117
Total	$ 3,844,322
Future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases:
2019		$ 465,766
2020		456,207
2021		452,346
2022		454,216
2023		437,277
Thereafter		2,407,064
Total		$ 4,672,876

REAL ESTATE PROPERTIES HELD F_6

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Senior Housing - Managed Communities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Real Estate [Line Items]
Resident fees and services	$ 36,071	$ 17,530	$ 53,132	$ 35,023
Ancillary Services
Real Estate [Line Items]
Resident fees and services	$ 200	$ 100	$ 300	$ 200

IMPAIRMENT OF REAL ESTATE AND_2

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS (Details) $ in Thousands	Apr. 01, 2019USD ($)facility	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)facility	Jun. 30, 2018USD ($)facility	Jun. 30, 2017USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment		$ 2,002	$ 881	$ 105,136	$ 1,413
Senior Care Centers Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties impaired | facility				3
Skilled Nursing Transitional Care Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment				$ 12,900
Number of real estate properties impaired | facility				4
Senior Housing Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment					$ 500
Number of facilities sold with related impairment | facility					1
Senior Care Centers Sale Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment				$ 92,200
Senior Care Centers Sale Facilities | Senior Care Centers
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility	28
Aggregate sale price of facility	$ 282,500
2019 Dispositions | Skilled Nursing Transitional Care Facilities And Senior Housing Facilities [Member] | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sale price of facility		315,000		315,000
Carrying value of assets and liabilities of facility		$ 313,800		313,800
Net loss on sale				1,200
Net income from facilities				$ 3,100	$ 18,000
2019 Dispositions | Skilled Nursing Transitional Care Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility				31
2019 Dispositions | Senior Housing Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility				7
2018 Dispositions | Skilled Nursing Transitional Care Facilities And Senior Housing Facilities [Member] | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sale price of facility			278,300		278,300
Carrying value of assets and liabilities of facility			$ 135,800		135,800
Net loss on sale					142,500
Net income from facilities					11,600	$ 15,400
Selling expenses					$ 100
2018 Dispositions | Skilled Nursing Transitional Care Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility					33
2018 Dispositions | Senior Housing Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility					4

LOANS RECEIVABLE AND OTHER IN_3

LOANS RECEIVABLE AND OTHER INVESTMENTS - Composition of Loans Receivable and Other Investments (Details) $ in Thousands	Jun. 30, 2019USD ($)preferred_equity_investmentInvestmentloan	Dec. 31, 2018USD ($)
Loans Receivable:
Quantity | loan	20
Principal balance	$ 72,728	$ 96,492
Book Value	$ 68,836	70,718
Weighted Average Contractual Interest Rate / Rate of Return	7.70%
Weighted Average Annualized Effective Interest Rate / Rate of Return	8.10%
Loan loss reserve	$ (1,960)	(1,258)
Loans receivable, net amount	$ 66,876	69,460
Other Investments:
Quantity | preferred_equity_investment	9
Principal Balance	$ 43,915	43,851
Book Value	$ 44,327	44,262
Weighted Average Contractual Interest Rate / Rate of Return	12.00%
Weighted Average Annualized Effective Interest Rate / Rate of Return	12.00%
Total Quantity | Investment	29
Total Principal Balance	$ 116,643
Total Book Value	$ 111,203	113,722
Total Weighted Average Contractual Interest Rate / Rate of Return	9.30%
Total Weighted Average Annualized Effective Interest Rate / Rate of Return	9.60%
Mortgage
Loans Receivable:
Quantity | loan	1
Principal balance	$ 19,000
Book Value	$ 19,000	18,577
Weighted Average Contractual Interest Rate / Rate of Return	10.00%
Weighted Average Annualized Effective Interest Rate / Rate of Return	10.00%
Construction
Loans Receivable:
Quantity | loan	2
Principal balance	$ 5,363
Book Value	$ 5,418	4,629
Weighted Average Contractual Interest Rate / Rate of Return	8.00%
Weighted Average Annualized Effective Interest Rate / Rate of Return	7.70%
Mezzanine
Loans Receivable:
Quantity | loan	0
Principal balance	$ 0
Book Value	$ 0	2,188
Other
Loans Receivable:
Quantity | loan	17
Principal balance	$ 48,365
Book Value	$ 44,418	$ 45,324
Weighted Average Contractual Interest Rate / Rate of Return	6.80%
Weighted Average Annualized Effective Interest Rate / Rate of Return	7.30%

LOANS RECEIVABLE AND OTHER IN_4

LOANS RECEIVABLE AND OTHER INVESTMENTS - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)loan	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)loan	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable investments | loan	20		20
Principal balance	$ 72,728,000		$ 72,728,000		$ 96,492,000
Loan loss reserve	$ 1,960,000		$ 1,960,000		$ 1,258,000
Number of loans receivable considered to be impaired | loan	1		1		1
Principal balance of impaired loan receivable	$ 4,300,000		$ 4,300,000		$ 1,300,000
Number of loans more than 90 days past due still accruing interest | loan					1
Book value of loans more than 90 days past due and still accruing interest					$ 4,300,000
Nonperforming Financial Instruments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable on nonaccrual status | loan	3		3		2
Book value of loans receivable on nonaccrual status	$ 4,300,000		$ 4,300,000		$ 1,300,000
Specific Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss reserve in period	0	$ 0	1,200,000	$ 0
Loan loss reserve	1,300,000		1,300,000		700,000
Portfolio-Based Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase (decrease) in portfolio-based loan loss reserve	200,000	$ 200,000	200,000	$ 300,000
Loan loss reserve	$ 700,000		$ 700,000		$ 600,000
Receivables Acquired with Deteriorated Credit Quality
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable investments | loan	6		6		7
Principal balance	$ 3,100,000		$ 3,100,000		$ 27,700,000
Book value of loans receivable	$ 1,500,000		$ 1,500,000		$ 4,200,000
Number of loans repaid | loan			1

LOANS RECEIVABLE AND OTHER IN_5

LOANS RECEIVABLE AND OTHER INVESTMENTS - Changes in the Accretable Yield (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Accretable yield, beginning of period	$ 198	$ 1,883	$ 449	$ 2,483
Accretion recognized in earnings	(86)	(1,529)	(304)	(2,129)
Reduction due to payoff	0	0	(33)	0
Net reclassification from nonaccretable difference	0	727	0	727
Accretable yield, end of period	$ 112	$ 1,081	$ 112	$ 1,081

DEBT - Secured Debt (Details)

DEBT - Secured Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Deferred financing costs, net	$ 14,921
Secured Debt
Debt Instrument [Line Items]
Deferred financing costs, net	1,746	$ 1,800
Secured Debt | Fixed Rate
Debt Instrument [Line Items]
Fixed rate, principal amount	$ 116,421	$ 117,464
Weighted average effective interest rate	3.67%

DEBT - Senior Unsecured Notes (

DEBT - Senior Unsecured Notes (Details) - USD ($)	Jun. 30, 2019	May 29, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Premium, net	$ 13,980,000
Deferred financing costs	14,921,000
Senior Notes
Debt Instrument [Line Items]
Principal balance	1,100,000,000		$ 1,300,000,000
Premium, net	13,980,000		14,500,000
Deferred financing costs	7,462,000		7,100,000
Senior Notes | 5.5% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Principal balance	$ 0		500,000,000
Interest rate	5.50%
Senior Notes | 5.375% Senior Unsecured Notes due 2023
Debt Instrument [Line Items]
Principal balance	$ 200,000,000		200,000,000
Interest rate	5.375%
Senior Notes | 4.80% Senior Unsecured Notes Due 2024
Debt Instrument [Line Items]
Principal balance	$ 300,000,000		0
Interest rate	4.80%	4.80%
Senior Notes | 5.125% Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Principal balance	$ 500,000,000		500,000,000
Interest rate	5.125%
Senior Notes | 5.38% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Principal balance	$ 100,000,000		$ 100,000,000
Interest rate	5.38%

DEBT - Narrative (Details)

DEBT - Narrative (Details)	May 29, 2019USD ($)	Aug. 17, 2017USD ($)extension_option	Jun. 30, 2019USD ($)instrument	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)instrument	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Aug. 17, 2017CAD ($)extension_option	Aug. 10, 2016USD ($)agreement	Aug. 10, 2016CAD ($)agreement	Jun. 10, 2015CAD ($)
Debt Instrument [Line Items]
Net proceeds from issuance of senior unsecured notes					$ 300,000,000	$ 0
Loss on extinguishment of debt			$ 10,119,000	$ 0	10,119,000	0
Payments made to noteholders and legal fees for early redemption					6,895,000	0
Amount outstanding under credit facility			275,000,000		275,000,000		$ 624,000,000
Interest expense			33,608,000	36,757,000	69,926,000	72,575,000
Non-cash interest expense			2,800,000	$ 2,500,000	5,300,000	$ 5,000,000
Accrued interest			$ 14,000,000		$ 14,000,000		24,000,000
Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity		$ 1,000,000,000
Borrowing capacity in certain foreign currencies (up to)		$ 175,000,000
Number of extension options | extension_option		2						2
Extension period		6 months
Interest rate			3.65%		3.65%
Credit Agreement | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Annum percent unused borrowing fee		0.125%
Credit Agreement | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Annum percent unused borrowing fee		0.30%
Credit Agreement | Revolving Credit Facility | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate					0.50%
Credit Agreement | Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate					1.00%
Credit Agreement | Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.00%
Credit Agreement | Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		0.65%
Credit Agreement | Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.875%
Credit Agreement | Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.65%
Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Borrowing capacity		$ 2,500,000,000
U.S. Dollar Term Loan
Debt Instrument [Line Items]
Aggregate principal amount									$ 245,000,000
U.S. Dollar Term Loan | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate under swap									0.90%	0.90%
Number of derivative agreements | agreement									2	2
U.S. Dollar Term Loan | Care Capital Properties
Debt Instrument [Line Items]
Aggregate principal amount			$ 600,000,000		$ 600,000,000
U.S. Dollar Term Loan | Care Capital Properties | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate under swap			1.31%		1.31%
Number of derivative agreements | instrument			8		8
U.S. Dollar Term Loan | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.00%
U.S. Dollar Term Loan | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		0.90%
U.S. Dollar Term Loan | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.90%
U.S. Dollar Term Loan | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.90%
U.S. Dollar Term Loan | CDOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.90%
U.S. Dollar Term Loan | CDOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.90%
U.S. Dollar Term Loan | Redemption Period One
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,100,000,000
U.S. Dollar Term Loan | Redemption Period Two
Debt Instrument [Line Items]
Aggregate principal amount		$ 200,000,000
Canadian Term Loan
Debt Instrument [Line Items]
Aggregate principal amount								$ 125,000,000		$ 35,000,000
Canadian Term Loan | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate under swap									0.93%	0.93%
Number of derivative agreements | agreement									1	1
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Amount outstanding under credit facility			$ 275,000,000		$ 275,000,000
Available borrowing capacity			725,000,000		725,000,000
Prior Canadian Term Loan
Debt Instrument [Line Items]
Aggregate principal amount											$ 90,000,000
Fixed interest rate under swap											1.59%
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount			$ 1,100,000,000		$ 1,100,000,000		$ 1,300,000,000
Senior Notes | 5.375% Senior Unsecured Notes due 2023
Debt Instrument [Line Items]
Interest rate			5.375%		5.375%
Senior Notes | 4.80% Senior Unsecured Notes Due 2024
Debt Instrument [Line Items]
Aggregate principal amount	$ 300,000,000
Net proceeds from issuance of senior unsecured notes	$ 295,300,000
Interest rate	4.80%		4.80%		4.80%
Redemption price percentage	100.00%
Senior Notes | 5.5% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Interest rate			5.50%		5.50%
Aggregate principal amount redeemed	$ 500,000,000
Percentage of principal amount redeemed	101.375%
Loss on extinguishment of debt			$ (10,100,000)		$ 10,100,000
Payments made to noteholders and legal fees for early redemption			6,900,000		6,900,000
Write-offs associated with unamortized deferred financing and premium costs			$ 3,200,000		$ 3,200,000
Senior Notes | 5.125% Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Interest rate			5.125%		5.125%
Senior Notes | 5.38% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Interest rate			5.38%		5.38%

DEBT - Schedule of Maturities f

DEBT - Schedule of Maturities for Outstanding Debt (Details) $ in Thousands	Aug. 17, 2017extension_option	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
July 1 through December 31, 2019		$ 1,735
2020		203,552
2021		293,751
2022		998,672
2023		203,282
Thereafter		985,916
Total Debt		2,686,908
Premium, net		13,980
Deferred financing costs, net		(14,921)
Total Debt, Net		2,685,967
Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Number of extension options | extension_option	2
Extension period	6 months
Secured Indebtedness
Debt Instrument [Line Items]
July 1 through December 31, 2019		1,735
2020		3,552
2021		18,751
2022		3,185
2023		3,282
Thereafter		85,916
Total Debt		116,421
Premium, net		0
Deferred financing costs, net		(1,746)	$ (1,800)
Total Debt, Net		114,675
Revolving Credit Facility
Debt Instrument [Line Items]
July 1 through December 31, 2019		0
2020		0
2021		275,000
2022		0
2023		0
Thereafter		0
Total Debt		275,000
Premium, net		0
Deferred financing costs, net		0
Total Debt, Net		275,000
Term Loans
Debt Instrument [Line Items]
July 1 through December 31, 2019		0
2020		200,000
2021		0
2022		995,487
2023		0
Thereafter		0
Total Debt		1,195,487
Premium, net		0
Deferred financing costs, net		(5,713)
Total Debt, Net		1,189,774
Senior Notes
Debt Instrument [Line Items]
July 1 through December 31, 2019		0
2020		0
2021		0
2022		0
2023		200,000
Thereafter		900,000
Total Debt		1,100,000
Premium, net		13,980	14,500
Deferred financing costs, net		(7,462)	$ (7,100)
Total Debt, Net		$ 1,106,518

DERIVATIVE AND HEDGING INSTRU_3

DERIVATIVE AND HEDGING INSTRUMENTS - Narrative (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2019USD ($)derivative	Jun. 30, 2019USD ($)derivative	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)derivative	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Derivative [Line Items]
Interest expense		$ 33,608,000	$ 36,757,000	$ 69,926,000	$ 72,575,000
Fair value of derivatives in a net liability position		73,000		73,000		$ 4,529,000
Forward Starting Interest Rate Swaps
Derivative [Line Items]
Number of derivative contracts terminated | derivative	3
Payment to counterparties upon termination of derivatives	$ 12,600,000
Credit Risk
Derivative [Line Items]
Fair value of derivatives in a net liability position		16,000		16,000
Termination value		16,000		16,000
Cash Flow Hedges | Interest Rate Swap
Derivative [Line Items]
Ineffectiveness on cash flow hedges		0		0
Ineffectiveness on cash flow hedges			$ 0		$ 0
Designated as Hedging Instrument
Derivative [Line Items]
Fair value of derivatives in a net liability position		$ 95,561,000		95,561,000		$ 96,229,000
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Gains included in accumulated other comprehensive loss which are expected to be reclassified into earnings in the next 12 months				$ 2,500,000
Not Designated as Hedging Instrument | Cross Currency Interest Rate Swaps
Derivative [Line Items]
Number of derivative instruments held | derivative		1		1
Fair value of derivative asset		$ 68,000		$ 68,000
Other expense related to derivatives		$ 1,000		$ 7,000

DERIVATIVE AND HEDGING INSTRU_4

DERIVATIVE AND HEDGING INSTRUMENTS - Notional Amount of Derivatives Instruments (Details) $ in Thousands	Jan. 31, 2023USD ($)	Jun. 30, 2019USD ($)derivative	Jun. 30, 2019CAD ($)derivative	Dec. 31, 2018USD ($)	Dec. 31, 2018CAD ($)
Cross Currency Interest Rate Swaps | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Notional amount		$ 1,490,000,000	$ 125,000	$ 1,045,000,000	$ 125,000
Cross Currency Interest Rate Swaps | Designated as Hedging Instrument | Net Investment Hedges
Derivative [Line Items]
Notional amount | $			54,941		55,401
Notional amount | $			$ 125,000		125,000
Cross Currency Interest Rate Swaps | Not Designated as Hedging Instrument
Derivative [Line Items]
Number of derivative instruments held | derivative		1	1
Cross Currency Interest Rate Swaps | Not Designated as Hedging Instrument | Net Investment Hedges
Derivative [Line Items]
Notional amount | $			$ 1,359		$ 899
Forward Starting Interest Rate Swaps - Effective August 2020 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		4	4
Forward Starting Interest Rate Collar - Effective August 2020 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		1	1
Forward Starting Interest Rate Swaps - Effective January 2021 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		2	2
Forward Starting Interest Rate Collar - Effective January 2021 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		1	1
Forward Starting Interest Rate Swaps And Forward Starting Interest Rate Collars [Member] | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Notional amount | $		$ 645,000,000
Forward Starting Interest Rate Swaps And Forward Starting Interest Rate Collars [Member] | Designated as Hedging Instrument | Cash Flow Hedges | Forecast
Derivative [Line Items]
Notional amount | $	$ 845,000,000

DERIVATIVE AND HEDGING INSTRU_5

DERIVATIVE AND HEDGING INSTRUMENTS - Derivative and Financial Instruments Designated as Hedging Instruments (Details) $ in Thousands	Jun. 30, 2019USD ($)instrument	Dec. 31, 2018USD ($)
Assets:
Fair Value	$ 10,628	$ 29,344
Liabilities:
Fair Value	73	4,529
Designated as Hedging Instrument
Assets:
Fair Value	10,628	29,344
Liabilities:
Fair Value	$ 95,561	96,229
Designated as Hedging Instrument | Interest rate swaps | Cash flow | Accounts receivable, prepaid expenses and other assets, net
Assets:
Count | instrument	10
Fair Value	$ 7,704	25,184
Designated as Hedging Instrument | Forward starting interest rate swaps | Cash flow | Accounts receivable, prepaid expenses and other assets, net
Assets:
Count | instrument	6
Fair Value	$ 128	0
Designated as Hedging Instrument | Forward starting interest rate swaps | Cash flow | Accounts payable and accrued liabilities
Liabilities:
Count | instrument	0
Fair Value	$ 0	4,529
Designated as Hedging Instrument | Cross currency interest rate swaps | Net investment | Accounts receivable, prepaid expenses and other assets, net
Assets:
Count | instrument	2
Fair Value	$ 2,796	4,160
Designated as Hedging Instrument | Forward starting interest rate collars | Cash flow | Accounts payable and accrued liabilities
Liabilities:
Count | instrument	2
Fair Value	$ 73	0
Designated as Hedging Instrument | CAD term loan | Net investment | Term loans, net
Liabilities:
Count | instrument	1
Fair Value	$ 95,488	$ 91,700

DERIVATIVE AND HEDGING INSTRU_6

DERIVATIVE AND HEDGING INSTRUMENTS - Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain in other comprehensive (loss) income, cash flow hedges and net investment hedges	$ (10,031)	$ 6,657	$ (24,801)	$ 19,062
Interest rate products
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in other comprehensive (loss) income, cash flow hedges	(8,126)	4,009	(19,737)	13,132
Interest rate products | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from accumulated other comprehensive income into income, cash flow hedges	1,695	633	3,608	583
Foreign currency products
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in other comprehensive (loss) income, net investment hedges	(42)	898	(1,276)	1,505
CAD term loan
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in other comprehensive (loss) income, net investment hedges	$ (1,863)	$ 1,750	$ (3,788)	$ 4,425

DERIVATIVE AND HEDGING INSTRU_7

DERIVATIVE AND HEDGING INSTRUMENTS - Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Offsetting Assets:
Gross amounts of recognized assets	$ 10,628	$ 29,344
Gross amounts offset in the balance sheet, assets	0	0
Net amounts of assets presented in the balance sheet	10,628	29,344
Financial instruments, assets	(73)	(2,069)
Cash collateral received, assets	0	0
Net amount, assets	10,555	27,275
Offsetting Liabilities:
Gross amounts of recognized liabilities	73	4,529
Gross amounts offset in the balance sheet, liabilities	0	0
Liabilities presented in the balance sheet	73	4,529
Financial instruments, liabilities	(73)	(2,069)
Cash collateral received, liabilities	0	0
Net amount, liabilities	$ 0	$ 2,460

FAIR VALUE DISCLOSURES - Face V

FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Financial assets:
Loans receivable	$ 72,728,000	$ 96,492,000
Preferred equity investments	43,915,000	43,851,000
Senior Notes
Financial liabilities:
Financial liabilities	1,100,000,000	1,300,000,000
Secured Indebtedness
Financial liabilities:
Financial liabilities	116,421,000	117,464,000
Carrying Amount
Financial assets:
Loans receivable	66,876,000	69,460,000
Preferred equity investments	44,327,000	44,262,000
Carrying Amount | Senior Notes
Financial liabilities:
Financial liabilities	1,106,518,000	1,307,394,000
Carrying Amount | Secured Indebtedness
Financial liabilities:
Financial liabilities	114,675,000	115,679,000
Fair Value
Financial assets:
Loans receivable	63,977,000	65,797,000
Preferred equity investments	44,280,000	43,825,000
Fair Value | Senior Notes
Financial liabilities:
Financial liabilities	1,143,537,000	1,270,877,000
Fair Value | Secured Indebtedness
Financial liabilities:
Financial liabilities	$ 108,446,000	$ 101,820,000

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	$ 63,977	$ 65,797
Preferred equity investments	44,280	43,825
Total | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,143,537	1,270,877
Total | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	108,446	$ 101,820
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,143,537
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	63,977
Preferred equity investments	44,280
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	108,446
Measured on a Recurring Basis | Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	63,977
Preferred equity investments	44,280
Measured on a Recurring Basis | Total | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,143,537
Measured on a Recurring Basis | Total | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 108,446

FAIR VALUE DISCLOSURES - Items

FAIR VALUE DISCLOSURES - Items Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 10,628	$ 29,344
Financial liabilities	73	$ 4,529
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	0
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	7,704
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	128
Financial liabilities	73
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	2,796
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	0
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Measured on a Recurring Basis | Total | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	7,704
Measured on a Recurring Basis | Total | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	128
Financial liabilities	73
Measured on a Recurring Basis | Total | Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 2,796

EQUITY - Preferred Stock (Detai

EQUITY - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 01, 2018	Mar. 21, 2013	Jun. 30, 2018	Jun. 30, 2018
Class of Stock [Line Items]
Shares of preferred stock issued (in shares)		5,750,000
Preferred stock dividend rate		7.125%
Price per share of preferred stock (in dollars per share)		$ 25
Redemption price (in dollars per share)	$ 25
Accrued and unpaid dividends (in dollars per share)	0.4453125
Total redemption price (in dollars per share)	$ 25.4453125
Redemption charge related to original issuance costs	$ 5.5
Preferred Stock
Class of Stock [Line Items]
Shares of preferred stock redeemed (in shares)	5,750,000		5,750,000	5,750,000

EQUITY - Common Stock (Details)

EQUITY - Common Stock (Details) - USD ($)	Feb. 25, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 21, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average price per share (in dollars per share)				$ 25
Tax withholding obligations incurred on behalf of employees		$ 1,300,000	$ 200,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon vesting (in shares)		114,185
ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate gross proceeds possible from sales of common stock under equity distribution agreement (up to)	$ 500,000,000
Commission rate (up to)	1.50%
Shares sold under the ATM Program (in shares)		11,100,000
Average price per share (in dollars per share)		$ 19.59
Gross proceeds from issuance of common stock		$ 217,300,000
Payments for stock issuance commissions		3,300,000
Amount available under ATM Program		$ 282,700,000

EQUITY - Cash Dividends on Comm

EQUITY - Cash Dividends on Common Stock Declared and Paid (Details) - $ / shares	May 08, 2019	Feb. 05, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Common dividends (in dollars per share)	$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 0.90	$ 0.90

EQUITY - Accumulated Other Comp

EQUITY - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	$ 3,260,376	$ 3,050,778	$ 3,254,747	$ 3,407,925	$ 3,426,566	$ 3,437,249
Total accumulated other comprehensive (loss) income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	(10,936)	$ (1,747)	12,301	$ 24,412	$ 20,813	$ 11,289
Foreign currency translation loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	(2,186)		(2,193)
Unrealized (loss) gain on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	$ (8,750)		$ 14,494

EARNINGS PER COMMON SHARE - Com

EARNINGS PER COMMON SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator
Net income attributable to common stockholders	$ 83,677	$ 193,580	$ 5,973	$ 253,490
Denominator
Basic weighted average common shares and common equivalents (in shares)	181,567,464	178,314,750	179,984,959	178,304,733
Dilutive restricted stock units (in shares)	686,636	369,274	652,100	296,056
Diluted weighted average common shares (in shares)	182,254,100	178,684,024	180,637,059	178,600,789
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.46	$ 1.09	$ 0.03	$ 1.42
Diluted common share (in dollars per share)	$ 0.46	$ 1.08	$ 0.03	$ 1.42

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not included in computation of diluted earnings per share (in shares)	1,100	35,300	2,900	46,000
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not included in computation of diluted earnings per share (in shares)		0		0
Stock options outstanding (in shares)	0		0

SUMMARIZED CONDENSED CONSOLID_3

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Assets
Real estate investments, net of accumulated depreciation	$ 5,378,874		$ 5,853,545
Loans receivable and other investments, net	111,203		113,722
Investment in unconsolidated joint venture	328,207		340,120
Cash and cash equivalents	47,595		50,230
Restricted cash	9,879		9,428
Lease intangible assets, net	108,877		131,097
Accounts receivable, prepaid expenses and other assets, net	138,544		167,161
Intercompany	0		0
Investment in subsidiaries	0		0
Total assets	6,123,179		6,665,303
Liabilities
Secured debt, net	114,675		115,679
Revolving credit facility	275,000		624,000
Term loans, net	1,189,774		1,184,930
Senior unsecured notes, net	1,106,518		1,307,394
Accounts payable and accrued liabilities	100,635		94,827
Lease intangible liabilities, net	76,201		83,726
Intercompany	0		0
Total liabilities	2,862,803		3,410,556
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,256,098		3,250,414
Noncontrolling interests	4,278		4,333
Total equity	3,260,376	$ 3,050,778	3,254,747	$ 3,407,925	$ 3,426,566	$ 3,437,249
Total liabilities and equity	6,123,179		6,665,303
Elimination
Assets
Real estate investments, net of accumulated depreciation	0		0
Loans receivable and other investments, net	0		0
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	0		0
Restricted cash	0		0
Lease intangible assets, net	0		0
Accounts receivable, prepaid expenses and other assets, net	(8,552)		(11,019)
Intercompany	(4,028,888)		(4,618,728)
Investment in subsidiaries	(2,977,529)		(2,921,593)
Total assets	(7,014,969)		(7,551,340)
Liabilities
Secured debt, net	0		0
Revolving credit facility	0		0
Term loans, net	0		0
Senior unsecured notes, net	0		0
Accounts payable and accrued liabilities	(8,552)		(11,019)
Lease intangible liabilities, net	0		0
Intercompany	(4,028,888)		(4,618,728)
Total liabilities	(4,037,440)		(4,629,747)
Total Sabra Health Care REIT, Inc. stockholders’ equity	(2,977,529)		(2,921,593)
Noncontrolling interests	0		0
Total equity	(2,977,529)		(2,921,593)
Total liabilities and equity	(7,014,969)		(7,551,340)
Parent Company | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	294		317
Loans receivable and other investments, net	(726)		(560)
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	38,500		40,835
Restricted cash	0		0
Lease intangible assets, net	0		0
Accounts receivable, prepaid expenses and other assets, net	4,433		798
Intercompany	1,993,632		1,972,059
Investment in subsidiaries	1,253,100		1,258,715
Total assets	3,289,233		3,272,164
Liabilities
Secured debt, net	0		0
Revolving credit facility	0		0
Term loans, net	0		0
Senior unsecured notes, net	0		0
Accounts payable and accrued liabilities	33,135		21,750
Lease intangible liabilities, net	0		0
Intercompany	0		0
Total liabilities	33,135		21,750
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,256,098		3,250,414
Noncontrolling interests	0		0
Total equity	3,256,098		3,250,414
Total liabilities and equity	3,289,233		3,272,164
Operating Partnership | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	0		0
Loans receivable and other investments, net	0		0
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	0		0
Restricted cash	0		0
Lease intangible assets, net	0		0
Accounts receivable, prepaid expenses and other assets, net	17,873		37,075
Intercompany	2,035,256		2,646,669
Investment in subsidiaries	1,690,158		1,629,795
Total assets	3,743,287		4,313,539
Liabilities
Secured debt, net	0		0
Revolving credit facility	275,000		624,000
Term loans, net	1,095,102		1,094,177
Senior unsecured notes, net	1,106,518		1,307,394
Accounts payable and accrued liabilities	13,567		29,253
Lease intangible liabilities, net	0		0
Intercompany	0		0
Total liabilities	2,490,187		3,054,824
Total Sabra Health Care REIT, Inc. stockholders’ equity	1,253,100		1,258,715
Noncontrolling interests	0		0
Total equity	1,253,100		1,258,715
Total liabilities and equity	3,743,287		4,313,539
Sabra Capital Corporation | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	0		0
Loans receivable and other investments, net	0		0
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	0		0
Restricted cash	0		0
Lease intangible assets, net	0		0
Accounts receivable, prepaid expenses and other assets, net	0		0
Intercompany	0		0
Investment in subsidiaries	0		0
Total assets	0		0
Liabilities
Secured debt, net	0		0
Revolving credit facility	0		0
Term loans, net	0		0
Senior unsecured notes, net	0		0
Accounts payable and accrued liabilities	0		0
Lease intangible liabilities, net	0		0
Intercompany	0		0
Total liabilities	0		0
Total Sabra Health Care REIT, Inc. stockholders’ equity	0		0
Noncontrolling interests	0		0
Total equity	0		0
Total liabilities and equity	0		0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	1,423,107		1,453,451
Loans receivable and other investments, net	55,453		50,534
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	2,604		3,508
Restricted cash	1,881		1,820
Lease intangible assets, net	9,299		13,947
Accounts receivable, prepaid expenses and other assets, net	29,119		58,704
Intercompany	0		0
Investment in subsidiaries	34,271		33,083
Total assets	1,555,734		1,615,047
Liabilities
Secured debt, net	0		0
Revolving credit facility	0		0
Term loans, net	94,672		90,753
Senior unsecured notes, net	0		0
Accounts payable and accrued liabilities	2,002		2,570
Lease intangible liabilities, net	0		0
Intercompany	664,912		810,394
Total liabilities	761,586		903,717
Total Sabra Health Care REIT, Inc. stockholders’ equity	794,148		711,330
Noncontrolling interests	0		0
Total equity	794,148		711,330
Total liabilities and equity	1,555,734		1,615,047
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	3,955,473		4,399,777
Loans receivable and other investments, net	56,476		63,748
Investment in unconsolidated joint venture	328,207		340,120
Cash and cash equivalents	6,491		5,887
Restricted cash	7,998		7,608
Lease intangible assets, net	99,578		117,150
Accounts receivable, prepaid expenses and other assets, net	95,671		81,603
Intercompany	0		0
Investment in subsidiaries	0		0
Total assets	4,549,894		5,015,893
Liabilities
Secured debt, net	114,675		115,679
Revolving credit facility	0		0
Term loans, net	0		0
Senior unsecured notes, net	0		0
Accounts payable and accrued liabilities	60,483		52,273
Lease intangible liabilities, net	76,201		83,726
Intercompany	3,363,976		3,808,334
Total liabilities	3,615,335		4,060,012
Total Sabra Health Care REIT, Inc. stockholders’ equity	930,281		951,548
Noncontrolling interests	4,278		4,333
Total equity	934,559		955,881
Total liabilities and equity	$ 4,549,894		$ 5,015,893

SUMMARIZED CONDENSED CONSOLID_4

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Rental and related revenues	$ 112,800	$ 144,229	$ 229,187	$ 288,484
Interest and other income	70,495	4,553	73,820	8,891
Resident fees and services	36,071	17,530	53,132	35,023
Total revenues	219,366	166,312	356,139	332,398
Expenses:
Depreciation and amortization	49,476	46,828	94,425	94,833
Interest	33,608	36,757	69,926	72,575
General and administrative	8,059	9,383	16,243	17,580
Provision for doubtful accounts, straight-line rental income and loan losses	193	(674)	1,400	539
Impairment of real estate	2,002	881	105,136	1,413
Total expenses	123,817	105,474	334,938	211,363
Other (expense) income:
Other income (expense)	(1)	0	170	2,820
Net gain on sales of real estate	2,755	142,903	1,235	142,431
Total other (expense) income	(7,365)	142,903	(8,714)	145,251
Loss on extinguishment of debt	(10,119)	0	(10,119)	0
Income in subsidiary	0	0	0	0
Income before loss from unconsolidated joint venture and income tax expense	88,184	203,741	12,487	266,286
Loss from unconsolidated joint venture	(3,647)	(2,347)	(5,030)	(1,901)
Income tax expense	(854)	(605)	(1,466)	(1,115)
Net income	83,683	200,789	5,991	263,270
Net income attributable to noncontrolling interests	(6)	(2)	(18)	(12)
Net income attributable to Sabra Health Care REIT, Inc.	83,677	200,787	5,973	263,258
Preferred stock dividends	0	(7,207)	0	(9,768)
Net income attributable to common stockholders	$ 83,677	$ 193,580	$ 5,973	$ 253,490
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.46	$ 1.09	$ 0.03	$ 1.42
Diluted common share (in dollars per share)	$ 0.46	$ 1.08	$ 0.03	$ 1.42
Weighted-average number of common shares outstanding, basic (in shares)	181,567,464	178,314,750	179,984,959	178,304,733
Weighted-average number of common shares outstanding, diluted (in shares)	182,254,100	178,684,024	180,637,059	178,600,789
Triple-Net Portfolio
Expenses:
Operating expenses	$ 6,240	$ 0	$ 11,529	$ 0
Senior Housing - Managed
Expenses:
Operating expenses	24,239	12,299	36,279	24,423
Elimination
Revenues:
Rental and related revenues	(9,370)	(4,320)	(13,747)	(8,553)
Interest and other income	(1,896)	(96)	(1,991)	(208)
Resident fees and services	0	0	0	0
Total revenues	(11,266)	(4,416)	(15,738)	(8,761)
Expenses:
Depreciation and amortization	0	0	0	0
Interest	(1,896)	(96)	(1,991)	(208)
General and administrative	0	0	0	0
Provision for doubtful accounts, straight-line rental income and loan losses	0	0	0	0
Impairment of real estate	0	0	0	0
Total expenses	(11,266)	(4,416)	(15,738)	(8,761)
Other (expense) income:
Other income (expense)	0	0	0	0
Net gain on sales of real estate	0	0	0	0
Total other (expense) income	0	0	0	0
Loss on extinguishment of debt	0		0
Income in subsidiary	(224,482)	(454,085)	(121,308)	(626,890)
Income before loss from unconsolidated joint venture and income tax expense	(224,482)	(454,085)	(121,308)	(626,890)
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	0	0	0	0
Net income	(224,482)	(454,085)	(121,308)	(626,890)
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.		(454,085)		(626,890)
Preferred stock dividends		0		0
Net income attributable to common stockholders	(224,482)	(454,085)	(121,308)	(626,890)
Elimination | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Elimination | Senior Housing - Managed
Expenses:
Operating expenses	(9,370)	(4,320)	(13,747)	(8,553)
Parent Company | Reportable Legal Entities
Revenues:
Rental and related revenues	0	0	0	0
Interest and other income	91	40	120	50
Resident fees and services	0	0	0	0
Total revenues	91	40	120	50
Expenses:
Depreciation and amortization	12	222	24	443
Interest	0	0	0	0
General and administrative	7,706	8,121	15,236	14,279
Provision for doubtful accounts, straight-line rental income and loan losses	193	311	166	2,492
Impairment of real estate	0	0	0	0
Total expenses	7,911	8,654	15,426	17,214
Other (expense) income:
Other income (expense)	0	0	0	1,977
Net gain on sales of real estate	0	0	0	0
Total other (expense) income	0	0	0	1,977
Loss on extinguishment of debt	0		0
Income in subsidiary	91,406	209,456	21,629	278,798
Income before loss from unconsolidated joint venture and income tax expense	83,586	200,842	6,323	263,611
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	91	(55)	(350)	(353)
Net income	83,677	200,787	5,973	263,258
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.		200,787		263,258
Preferred stock dividends		(7,207)		(9,768)
Net income attributable to common stockholders	83,677	193,580	5,973	253,490
Parent Company | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Parent Company | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Operating Partnership | Reportable Legal Entities
Revenues:
Rental and related revenues	0	0	0	0
Interest and other income	1,896	96	1,991	208
Resident fees and services	0	0	0	0
Total revenues	1,896	96	1,991	208
Expenses:
Depreciation and amortization	0	0	0	0
Interest	31,616	33,415	65,891	65,980
General and administrative	31	14	62	29
Provision for doubtful accounts, straight-line rental income and loan losses	0	0	0	0
Impairment of real estate	0	0	0	0
Total expenses	31,647	33,429	65,953	66,009
Other (expense) income:
Other income (expense)	(109)	32	(608)	233
Net gain on sales of real estate	0	0	0	0
Total other (expense) income	(10,228)	32	(10,727)	233
Loss on extinguishment of debt	(10,119)		(10,119)
Income in subsidiary	131,385	242,758	96,318	344,367
Income before loss from unconsolidated joint venture and income tax expense	91,406	209,457	21,629	278,799
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	0	(1)	0	(1)
Net income	91,406	209,456	21,629	278,798
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.		209,456		278,798
Preferred stock dividends		0		0
Net income attributable to common stockholders	91,406	209,456	21,629	278,798
Operating Partnership | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Operating Partnership | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Sabra Capital Corporation | Reportable Legal Entities
Revenues:
Rental and related revenues	0	0	0	0
Interest and other income	0	0	0	0
Resident fees and services	0	0	0	0
Total revenues	0	0	0	0
Expenses:
Depreciation and amortization	0	0	0	0
Interest	0	0	0	0
General and administrative	0	0	0	0
Provision for doubtful accounts, straight-line rental income and loan losses	0	0	0	0
Impairment of real estate	0	0	0	0
Total expenses	0	0	0	0
Other (expense) income:
Other income (expense)	0	0	0	0
Net gain on sales of real estate	0	0	0	0
Total other (expense) income	0	0	0	0
Loss on extinguishment of debt	0		0
Income in subsidiary	0	0	0	0
Income before loss from unconsolidated joint venture and income tax expense	0	0	0	0
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	0	0	0	0
Net income	0	0	0	0
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.		0		0
Preferred stock dividends		0		0
Net income attributable to common stockholders	0	0	0	0
Sabra Capital Corporation | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Sabra Capital Corporation | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Rental and related revenues	30,097	36,355	59,398	71,569
Interest and other income	68,198	1,180	69,429	2,413
Resident fees and services	0	0	0	0
Total revenues	98,295	37,535	128,827	73,982
Expenses:
Depreciation and amortization	15,559	11,795	27,241	24,130
Interest	2,666	810	3,567	1,601
General and administrative	1	368	276	783
Provision for doubtful accounts, straight-line rental income and loan losses	0	(985)	0	(1,956)
Impairment of real estate	0	881	0	1,413
Total expenses	18,382	12,869	32,254	25,971
Other (expense) income:
Other income (expense)	108	(32)	601	378
Net gain on sales of real estate	190	41,520	(180)	41,520
Total other (expense) income	298	41,488	421	41,898
Loss on extinguishment of debt	0		0
Income in subsidiary	1,691	1,871	3,361	3,725
Income before loss from unconsolidated joint venture and income tax expense	81,902	68,025	100,355	93,634
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	(542)	(489)	(647)	(542)
Net income	81,360	67,536	99,708	93,092
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.		67,536		93,092
Preferred stock dividends		0		0
Net income attributable to common stockholders	81,360	67,536	99,708	93,092
Combined Guarantor Subsidiaries | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	156		1,170
Combined Guarantor Subsidiaries | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Rental and related revenues	92,073	112,194	183,536	225,468
Interest and other income	2,206	3,333	4,271	6,428
Resident fees and services	36,071	17,530	53,132	35,023
Total revenues	130,350	133,057	240,939	266,919
Expenses:
Depreciation and amortization	33,905	34,811	67,160	70,260
Interest	1,222	2,628	2,459	5,202
General and administrative	321	880	669	2,489
Provision for doubtful accounts, straight-line rental income and loan losses	0	0	1,234	3
Impairment of real estate	2,002	0	105,136	0
Total expenses	77,143	54,938	237,043	110,930
Other (expense) income:
Other income (expense)	0	0	177	232
Net gain on sales of real estate	2,565	101,383	1,415	100,911
Total other (expense) income	2,565	101,383	1,592	101,143
Loss on extinguishment of debt	0		0
Income in subsidiary	0	0	0	0
Income before loss from unconsolidated joint venture and income tax expense	55,772	179,502	5,488	257,132
Loss from unconsolidated joint venture	(3,647)	(2,347)	(5,030)	(1,901)
Income tax expense	(403)	(60)	(469)	(219)
Net income	51,722	177,095	(11)	255,012
Net income attributable to noncontrolling interests	(6)	(2)	(18)	(12)
Net income attributable to Sabra Health Care REIT, Inc.		177,093		255,000
Preferred stock dividends		0		0
Net income attributable to common stockholders	51,716	177,093	(29)	255,000
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	6,084		10,359
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	$ 33,609	$ 16,619	$ 50,026	$ 32,976

SUMMARIZED CONDENSED CONSOLID_5

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Net income	$ 83,683	$ 200,789	$ 5,991	$ 263,270
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	567	261	7	(113)
Unrealized (loss) gain on cash flow hedges	(9,756)	3,338	(23,244)	13,236
Total other comprehensive (loss) income	(9,189)	3,599	(23,237)	13,123
Comprehensive income (loss)	74,494	204,388	(17,246)	276,393
Comprehensive income attributable to noncontrolling interest	(6)	(2)	(18)	(12)
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	74,488	204,386	(17,264)	276,381
Elimination
Condensed Financial Statements, Captions [Line Items]
Net income	(224,482)	(454,085)	(121,308)	(626,890)
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	0	0	0	0
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	0	0	0	0
Comprehensive income (loss)	(224,482)	(454,085)	(121,308)	(626,890)
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	(224,482)	(454,085)	(121,308)	(626,890)
Parent Company | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	83,677	200,787	5,973	263,258
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	0	0	0	0
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	0	0	0	0
Comprehensive income (loss)	83,677	200,787	5,973	263,258
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	83,677	200,787	5,973	263,258
Operating Partnership | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	91,406	209,456	21,629	278,798
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	(264)	1,064	(1,700)	1,905
Unrealized (loss) gain on cash flow hedges	(9,808)	3,335	(23,294)	13,238
Total other comprehensive (loss) income	(10,072)	4,399	(24,994)	15,143
Comprehensive income (loss)	81,334	213,855	(3,365)	293,941
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	81,334	213,855	(3,365)	293,941
Sabra Capital Corporation | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	0	0	0	0
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	0	0	0	0
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	0	0	0	0
Comprehensive income (loss)	0	0	0	0
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	0	0	0	0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	81,360	67,536	99,708	93,092
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	629	(608)	1,307	(1,536)
Unrealized (loss) gain on cash flow hedges	52	3	50	(2)
Total other comprehensive (loss) income	681	(605)	1,357	(1,538)
Comprehensive income (loss)	82,041	66,931	101,065	91,554
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	82,041	66,931	101,065	91,554
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	51,722	177,095	(11)	255,012
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	202	(195)	400	(482)
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	202	(195)	400	(482)
Comprehensive income (loss)	51,924	176,900	389	254,530
Comprehensive income attributable to noncontrolling interest	(6)	(2)	(18)	(12)
Comprehensive income (loss) attributable to Sabra Health Care REIT, Inc.	$ 51,918	$ 176,898	$ 371	$ 254,518

SUMMARIZED CONDENSED CONSOLID_6

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 191,878	$ 211,553
Cash flows from investing activities:
Acquisition of real estate	0	(213,982)
Origination and fundings of loans receivable	(8,823)	(28,157)
Origination and fundings of preferred equity investments	0	(945)
Additions to real estate	(8,596)	(16,817)
Repayments of loans receivable	10,102	38,887
Repayments of preferred equity investments	2,463	375
Investment in unconsolidated joint venture	0	(354,461)
Net proceeds from the sales of real estate	322,736	278,201
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	317,882	(296,899)
Cash flows from financing activities:
Net repayments of revolving credit facility	(349,000)
Net borrowings from revolving credit facility		35,000
Proceeds from issuance of senior unsecured notes	300,000	0
Principal payments on senior unsecured notes	(500,000)	0
Principal payments on secured debt	(1,703)	(2,128)
Payments of deferred financing costs	(4,413)	(12)
Payments related to extinguishment of debt	(6,895)	0
Distributions to noncontrolling interests	(73)	(72)
Preferred stock redemption	0	(143,750)
Issuance of common stock, net	211,575	(499)
Dividends paid on common and preferred stock	(161,735)	(164,736)
Distribution to parent	0	0
Intercompany financing	0	0
Net cash used in financing activities	(512,244)	(276,197)
Net decrease in cash, cash equivalents and restricted cash	(2,484)	(361,543)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	300	(252)
Cash, cash equivalents and restricted cash, beginning of period	59,658	587,449
Cash, cash equivalents and restricted cash, end of period	57,474	225,654
Elimination
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Acquisition of real estate		0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	0	0
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Distribution from subsidiaries	(5,062)	(5,338)
Intercompany financing	(79,534)	791,958
Net cash provided by (used in) investing activities	(84,596)	786,620
Cash flows from financing activities:
Net repayments of revolving credit facility	0
Net borrowings from revolving credit facility		0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	5,062	5,338
Intercompany financing	79,534	(791,958)
Net cash used in financing activities	84,596	(786,620)
Net decrease in cash, cash equivalents and restricted cash	0	0
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Parent Company | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	185,681	204,440
Cash flows from investing activities:
Acquisition of real estate		0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	0	(40)
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Distribution from subsidiaries	2,531	2,669
Intercompany financing	(240,387)	(378,485)
Net cash provided by (used in) investing activities	(237,856)	(375,856)
Cash flows from financing activities:
Net repayments of revolving credit facility	0
Net borrowings from revolving credit facility		0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		(143,750)
Issuance of common stock, net	211,575	(499)
Dividends paid on common and preferred stock	(161,735)	(164,736)
Distribution to parent	0	0
Intercompany financing	0	0
Net cash used in financing activities	49,840	(308,985)
Net decrease in cash, cash equivalents and restricted cash	(2,335)	(480,401)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	40,835	511,670
Cash, cash equivalents and restricted cash, end of period	38,500	31,269
Operating Partnership | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Acquisition of real estate		0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	0	0
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Distribution from subsidiaries	2,531	2,669
Intercompany financing	319,921	(413,473)
Net cash provided by (used in) investing activities	322,452	(410,804)
Cash flows from financing activities:
Net repayments of revolving credit facility	(349,000)
Net borrowings from revolving credit facility		35,000
Proceeds from issuance of senior unsecured notes	300,000
Principal payments on senior unsecured notes	(500,000)
Principal payments on secured debt	0	0
Payments of deferred financing costs	(4,413)	(12)
Payments related to extinguishment of debt	(6,895)
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	(2,531)	(2,669)
Intercompany financing	240,387	378,485
Net cash used in financing activities	(322,452)	410,804
Net decrease in cash, cash equivalents and restricted cash	0	0
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Sabra Capital Corporation | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Acquisition of real estate		0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	0	0
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Net repayments of revolving credit facility	0
Net borrowings from revolving credit facility		0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	0	0
Intercompany financing	0	0
Net cash used in financing activities	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	438	1,014
Cash flows from investing activities:
Acquisition of real estate		(29,711)
Origination and fundings of loans receivable	(5,400)	(1,973)
Origination and fundings of preferred equity investments		(945)
Additions to real estate	(4,009)	(4,660)
Repayments of loans receivable	92	6,577
Repayments of preferred equity investments	2,463	375
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	22,605	78,072
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	15,751	47,735
Cash flows from financing activities:
Net repayments of revolving credit facility	0
Net borrowings from revolving credit facility		0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	0	0
Intercompany financing	(17,230)	(8,130)
Net cash used in financing activities	(17,230)	(8,130)
Net decrease in cash, cash equivalents and restricted cash	(1,041)	40,619
Effect of foreign currency translation on cash, cash equivalents and restricted cash	198	(146)
Cash, cash equivalents and restricted cash, beginning of period	5,328	6,761
Cash, cash equivalents and restricted cash, end of period	4,485	47,234
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	5,759	6,099
Cash flows from investing activities:
Acquisition of real estate		(184,271)
Origination and fundings of loans receivable	(3,423)	(26,184)
Origination and fundings of preferred equity investments		0
Additions to real estate	(4,587)	(12,117)
Repayments of loans receivable	10,010	32,310
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		(354,461)
Net proceeds from the sales of real estate	300,131	200,129
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	302,131	(344,594)
Cash flows from financing activities:
Net repayments of revolving credit facility	0
Net borrowings from revolving credit facility		0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	(1,703)	(2,128)
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	(73)	(72)
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	(2,531)	(2,669)
Intercompany financing	(302,691)	421,603
Net cash used in financing activities	(306,998)	416,734
Net decrease in cash, cash equivalents and restricted cash	892	78,239
Effect of foreign currency translation on cash, cash equivalents and restricted cash	102	(106)
Cash, cash equivalents and restricted cash, beginning of period	13,495	69,018
Cash, cash equivalents and restricted cash, end of period	$ 14,489	$ 147,151

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Aug. 07, 2019	May 08, 2019	Feb. 05, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Subsequent Event [Line Items]
Quarterly cash dividend declared on common stock (in dollars per share)		$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 0.90	$ 0.90
Subsequent Event
Subsequent Event [Line Items]
Quarterly cash dividend declared on common stock (in dollars per share)	$ 0.45

Uncategorized Items - sbra10q20

Label	Element	Value
Accounting Standards Update 2016-02 [Member] | Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (32,502,000)
Accounting Standards Update 2016-02 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(32,502,000)
Accounting Standards Update 2017-12 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	795,000
Accounting Standards Update 2017-12 [Member] | Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (795,000)