Segment Reporting (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Summary of information for reportable segments | | | | |
Rental income | $379,587,000 | | $336,455,000 | |
Resident fees and services | 492,510,000 | | 456,265,000 | |
Interest income | 16,994,000 | | 8,594,000 | |
Other income | 5,086,000 | | 493,000 | |
Total revenues | 894,177,000 | | 801,807,000 | |
Property operating expenses | 376,461,000 | | 341,431,000 | |
Net Operating Income from Continuing Operations | 517,716,000 | [1] | 460,376,000 | |
Interest expense | 121,080,000 | | 120,833,000 | |
Loss (gain) on derivatives, net | -58,427,000 | [2] | | |
Depreciation and amortization | 188,829,000 | | 233,318,000 | |
General and administrative | 35,138,000 | | 32,865,000 | |
Transaction costs | 48,554,000 | | 952,000 | |
Loss (gain) on extinguishment of debt, net | -15,401,000 | | 148,000 | |
Provision for loan losses | 0 | | | |
Impairment of Asset | 2,220,000 | | | |
Income (loss) from continuing operations before income taxes and income from unconsolidated entities | 164,921,000 | | 72,556,000 | |
Income tax (expense) benefit | 304,000 | | -2,260,000 | |
(Loss) income from unconsolidated entities | -12,648,000 | | -5,556,000 | |
Income (loss) from continuing operations | 152,577,000 | | 64,740,000 | |
Discontinued Operation, Amount of Other Income (Loss) from Disposition of Discontinued Operation, Net of Tax | | | 460,000 | |
Gain (loss) on real estate dispositions, net | 56,845,000 | | | |
Net income | 209,422,000 | | 65,200,000 | |
Total assets | 26,629,395,000 | | | 25,014,296,000 |
Percent Of Assets | 1 | | | 1 |
Percent Of Revenues | 1 | | 1 | |
Triple Net [Member] | | | | |
Summary of information for reportable segments | | | | |
Rental income | 264,406,000 | | 237,716,000 | |
Resident fees and services | 0 | | 0 | |
Interest income | 14,699,000 | | 7,720,000 | |
Other income | 3,883,000 | | 144,000 | |
Total revenues | 282,988,000 | | 245,580,000 | |
Property operating expenses | | | 243,000 | |
Net Operating Income from Continuing Operations | 282,988,000 | | 245,337,000 | |
Interest expense | 10,027,000 | | 9,115,000 | |
Loss (gain) on derivatives, net | -58,427,000 | | 0 | |
Depreciation and amortization | 70,031,000 | | 67,269,000 | |
General and administrative | 0 | | 0 | |
Transaction costs | 36,172,000 | | 275,000 | |
Loss (gain) on extinguishment of debt, net | 10,336,000 | | 0 | |
Provision for loan losses | | | 0 | |
Impairment of Asset | 2,220,000 | | | |
Income (loss) from continuing operations before income taxes and income from unconsolidated entities | 212,629,000 | | 168,678,000 | |
Income tax (expense) benefit | 418,000 | | -355,000 | |
(Loss) income from unconsolidated entities | 1,393,000 | | 1,382,000 | |
Income (loss) from continuing operations | 214,440,000 | | 169,705,000 | |
Discontinued Operation, Amount of Other Income (Loss) from Disposition of Discontinued Operation, Net of Tax | | | 460,000 | |
Gain (loss) on real estate dispositions, net | 54,097,000 | | | |
Net income | 268,537,000 | | 170,165,000 | |
Total assets | 11,916,636,000 | | | |
Senior housing - operating [Member] | | | | |
Summary of information for reportable segments | | | | |
Rental income | 0 | | 0 | |
Resident fees and services | 492,510,000 | | 456,265,000 | |
Interest income | 1,031,000 | | 0 | |
Other income | 1,020,000 | | 54,000 | |
Total revenues | 494,561,000 | | 456,319,000 | |
Property operating expenses | 338,507,000 | | 308,184,000 | |
Net Operating Income from Continuing Operations | 156,054,000 | | 148,135,000 | |
Interest expense | 34,458,000 | | 27,479,000 | |
Loss (gain) on derivatives, net | 0 | | 0 | |
Depreciation and amortization | 76,636,000 | | 129,162,000 | |
General and administrative | 0 | | 0 | |
Transaction costs | 12,042,000 | | 630,000 | |
Loss (gain) on extinguishment of debt, net | 0 | | -148,000 | |
Other expenses | 0 | | | |
Income (loss) from continuing operations before income taxes and income from unconsolidated entities | 32,918,000 | | -8,988,000 | |
Income tax (expense) benefit | -533,000 | | -1,643,000 | |
(Loss) income from unconsolidated entities | -15,073,000 | | -7,961,000 | |
Income (loss) from continuing operations | 17,312,000 | | -18,592,000 | |
Net income | 17,312,000 | | -18,592,000 | |
Total assets | 10,208,763,000 | | | |
Outpatient Medical [Member] | | | | |
Summary of information for reportable segments | | | | |
Rental income | 115,181,000 | | 98,739,000 | |
Resident fees and services | 0 | | 0 | |
Interest income | 1,264,000 | | 874,000 | |
Other income | 161,000 | | 280,000 | |
Total revenues | 116,606,000 | | 99,893,000 | |
Property operating expenses | 37,954,000 | | 33,004,000 | |
Net Operating Income from Continuing Operations | 78,652,000 | | 66,889,000 | |
Interest expense | 7,625,000 | | 9,383,000 | |
Loss (gain) on derivatives, net | 0 | | 0 | |
Depreciation and amortization | 42,162,000 | | 36,887,000 | |
General and administrative | 0 | | 0 | |
Transaction costs | 341,000 | | 47,000 | |
Loss (gain) on extinguishment of debt, net | 0 | | | |
Income (loss) from continuing operations before income taxes and income from unconsolidated entities | 28,524,000 | | 20,572,000 | |
Income tax (expense) benefit | 466,000 | | -262,000 | |
(Loss) income from unconsolidated entities | 1,032,000 | | 1,023,000 | |
Income (loss) from continuing operations | 30,022,000 | | 21,333,000 | |
Gain (loss) on real estate dispositions, net | 2,749,000 | | | |
Net income | 32,771,000 | | 21,333,000 | |
Total assets | 4,444,058,000 | | | |
Non Segment Corporate [Member] | | | | |
Summary of information for reportable segments | | | | |
Rental income | 0 | | 0 | |
Resident fees and services | 0 | | 0 | |
Interest income | 0 | | 0 | |
Other income | 22,000 | | 15,000 | |
Total revenues | 22,000 | | 15,000 | |
Property operating expenses | 0 | | 0 | |
Net Operating Income from Continuing Operations | 22,000 | | 15,000 | |
Interest expense | 68,970,000 | | 74,856,000 | |
Loss (gain) on derivatives, net | 0 | | 0 | |
Depreciation and amortization | 0 | | 0 | |
General and administrative | 35,138,000 | | 32,865,000 | |
Transaction costs | 0 | | 0 | |
Loss (gain) on extinguishment of debt, net | 5,064,000 | | 0 | |
Income (loss) from continuing operations before income taxes and income from unconsolidated entities | -109,150,000 | | -107,706,000 | |
Income tax (expense) benefit | -48,000 | | 0 | |
(Loss) income from unconsolidated entities | 0 | | 0 | |
Income (loss) from continuing operations | -109,198,000 | | -107,706,000 | |
Net income | -109,198,000 | | -107,706,000 | |
Total assets | 59,938,000 | | | |
International [Member] | | | | |
Summary of information for reportable segments | | | | |
Total revenues | 149,041,000 | | 126,708,000 | |
Total assets | 4,748,464,000 | | | 4,285,819,000 |
Percent Of Assets | 0.178 | | | 0.171 |
Percent Of Revenues | 0.167 | | 0.158 | |
United States [Member] | | | | |
Summary of information for reportable segments | | | | |
Total revenues | 745,136,000 | | 675,099,000 | |
Total assets | $21,880,931,000 | | | $20,728,477,000 |
Percent Of Assets | 0.822 | | | 0.829 |
Percent Of Revenues | 0.833 | | 0.842 | |
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[1] | (1)B B B B Genesis Healthcare is in our triple-net segment. Sunrise Senior Living and Revera are in our seniors housing operating segment. Brookdale Senior Living and Benchmark Senior Living are in both our triple-net and seniors housing operating segments. |
[2] | (1) In April 2011, we completed the acquisition of substantially all of the real estate assets of privately-owned Genesis Healthcare Corporation. In conjunction with this transaction, we received the option to acquire an ownership interest in Genesis Healthcare. In February 2015, Genesis Healthcare closed on a transaction to merge with Skilled Healthcare Group to become a publicly traded company which required us to record the value of the derivative asset due to the net settlement feature. |