Omega Healthcare Investors (OHI) 10-K 29 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	OMEGA HEALTHCARE INVESTORS INC
Entity Central Index Key	888,491
Trading Symbol	ohi
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-Known Seasoned Issuer	Yes
Entity Common Stock Shares Outstanding		188,131,753
Entity Public Float			$ 6,293,415,800.43
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real estate properties
Land and buildings	$ 6,743,958	$ 3,223,785
Less accumulated depreciation	(1,019,150)	(821,712)
Real estate properties - net	5,724,808	2,402,073
Investments in direct financing leases - net	587,701	539,232
Mortgage notes receivable	679,795	648,079
Real estate properties, total	6,992,304	3,589,384
Other investments	89,299	48,952
Total investments held, continuing operations	7,081,603	3,638,336
Assets held for sale - net	6,599	12,792
Total investments	7,088,202	3,651,128
Cash and cash equivalents	5,424	4,489
Restricted cash	14,607	29,076
Accounts receivable - net	203,862	168,176
Goodwill	645,683
Other assets	61,231	68,776
Total assets	8,019,009	3,921,645
LIABILITIES AND EQUITY
Revolving line of credit	230,000	85,000
Term loans	750,000	200,000
Secured borrowings - net	236,204	251,454
Unsecured borrowings - net	2,352,882	1,842,049
Accrued expenses and other liabilities	333,706	141,815
Deferred income taxes	15,352
Total liabilities	3,918,144	2,520,318
Equity:
Common stock $.10 par value authorized - 350,000 shares, issued and outstanding - 187,399 shares as of December 31, 2015 and 127,606 as of December 31, 2014	18,740	12,761
Common stock - additional paid-in capital	4,609,474	2,136,234
Cumulative net earnings	1,372,522	1,147,998
Cumulative dividends paid	(2,254,038)	(1,895,666)
Accumulated other comprehensive loss	(8,712)
Total stockholders' equity	3,737,986	1,401,327
Noncontrolling interest	362,879
Total equity	4,100,865	1,401,327
Total liabilities and equity	$ 8,019,009	$ 3,921,645

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares shares in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	350,000	200,000
Common stock, shares issued	187,399	127,606
Common stock, shares outstanding	187,399	127,606

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue
Rental income									$ 605,991	$ 388,443	$ 375,135
Income from direct financing leases									59,936	56,719	5,203
Mortgage interest income									68,910	53,007	29,351
Other investment income - net									8,780	6,618	9,025
Total operating revenues	$ 210,512	$ 201,974	$ 197,711	$ 133,420	$ 131,321	$ 130,665	$ 121,800	$ 121,001	743,617	504,787	418,714
Expenses
Depreciation and amortization									210,703	123,257	128,646
General and administrative									38,568	25,888	21,588
Acquisition and merger related costs									57,525	3,948	245
Impairment loss on real estate properties									17,681	3,660	415
Provisions for uncollectible mortgages, notes and accounts receivable									7,871	2,723	2,141
Total operating expenses									332,348	159,476	153,035
Income before other income and expense									411,269	345,311	265,679
Other income (expense)
Interest income									285	44	41
Interest expense									(147,381)	(119,369)	(100,381)
Interest - amortization of deferred financing costs									(6,990)	(4,459)	(2,779)
Interest - refinancing (costs) gain									(28,837)	(3,041)	11,112
Realized loss on foreign exchange									(173)
Total other expense									(183,096)	(126,825)	(92,007)
Income before gain (loss) on assets sold									228,173	218,486	173,672
Gain (loss) on assets sold - net									6,353	2,863	(1,151)
Income from continuing operations before income taxes									234,526	221,349	172,521
Income taxes									(1,211)
Net income									233,315	221,349	172,521
Net income attributable to noncontrolling interest									(8,791)
Net income available to common stockholders	$ 60,642	$ 79,402	$ 41,428	$ 43,052	$ 56,990	$ 61,713	$ 46,817	$ 55,829	224,524	221,349	172,521
Net income									233,315	221,349	172,521
Other comprehensive loss - foreign currency translation									(8,413)
Other comprehensive loss - cash flow hedges									(718)
Total comprehensive income									224,184	221,349	172,521
Add: other comprehensive loss attributable to noncontrolling interest									419
Comprehensive income attributable to common stockholders									$ 224,603	$ 221,349	$ 172,521
Basic:
Net income available to common stockholders (in dollars per share)	$ 0.32	$ 0.43	$ 0.23	$ 0.32	$ 0.45	$ 0.48	$ 0.37	$ 0.45	$ 1.30	$ 1.75	$ 1.47
Diluted:
Net income (in dollars per share)	$ 0.32	$ 0.43	$ 0.22	$ 0.32	$ 0.44	$ 0.48	$ 0.37	$ 0.45	$ 1.29	$ 1.74	$ 1.46
Weighted-average shares outstanding, basic (in shares)									172,242	126,550	117,257
Weighted-average shares outstanding, diluted (in shares)									180,508	127,294	118,100

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Common Stock Par Value	Additional Paid-in Capital	Cumulative Net Earnings	Cumulative Dividends Paid	Accumulated Other Comprehensive Loss	Total Stockholders' Equity	Noncontrolling Interest	Total
Balance (112,393 common shares, 123,530 common shares, 127,606 common shares, 187,399 shares for 2012, 2013, 2014, 2015 respectively) at Dec. 31, 2012	$ 11,239	$ 1,664,855	$ 754,128	$ (1,418,893)		$ 1,011,329		$ 1,011,329
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Grant of restricted stock (15 shares at $30.33 per share, 12 shares at $35.79 and 21 shares at $35.70 per share to company directors for 2013, 2014 and 2015 respectively)	2	(2)
Amortization of restricted stock		5,817				5,817		5,817
Restricted stock shares surrendered for tax withholding (193 shares)	(19)	(5,755)				(5,774)		(5,774)
Dividend reinvestment plan (1,930 shares at $28.94 per share, 2,084 shares at $34.32 per share, 4,184 shares at $36.06 per share for 2013, 2014, 2015 respectively)	193	55,632				55,825		55,825
Grant of stock as payment of directors fees (6 shares at an average of $31.21 per share, 6 shares at an average of $35.52 per share, 9 shares at an average of $35.94 per share for 2013, 2014, 2015 respectively)		187				187		187
Equity Shelf Program (6,504 shares at $30.48 per share, net of issuance costs and 1,848 shares at $34.33 per share, net of issuance costs for 2013 and 2014, respectively)	650	193,149				193,799		193,799
Issuance of common stock (2,875 shares at $29.48 per share and 10,925 shares at an average of $40.32 per share for 2013 and 2015, respectively)	288	84,286				84,574		84,574
Common dividends ($1.86 per share, $2.02 per share and $2.18 per share for 2013, 2014, 2015 respectively)				(218,175)		(218,175)		(218,175)
Net income			172,521			172,521		172,521
Balance (112,393 common shares, 123,530 common shares, 127,606 common shares, 187,399 shares for 2012, 2013, 2014, 2015 respectively) at Dec. 31, 2013	12,353	1,998,169	926,649	(1,637,068)		1,300,103		1,300,103
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Grant of restricted stock (15 shares at $30.33 per share, 12 shares at $35.79 and 21 shares at $35.70 per share to company directors for 2013, 2014 and 2015 respectively)	1	(1)
Amortization of restricted stock		8,382				8,382		8,382
Vesting of restricted stock to company executives, net of tax withholdings (126 share and 941 share for 2013 and 2014 respectively)	13	(3,590)				(3,577)		(3,577)
Dividend reinvestment plan (1,930 shares at $28.94 per share, 2,084 shares at $34.32 per share, 4,184 shares at $36.06 per share for 2013, 2014, 2015 respectively)	208	71,279				71,487		71,487
Grant of stock as payment of directors fees (6 shares at an average of $31.21 per share, 6 shares at an average of $35.52 per share, 9 shares at an average of $35.94 per share for 2013, 2014, 2015 respectively)	1	199				200		200
Equity Shelf Program (6,504 shares at $30.48 per share, net of issuance costs and 1,848 shares at $34.33 per share, net of issuance costs for 2013 and 2014, respectively)	185	61,796				61,981		61,981
Common dividends ($1.86 per share, $2.02 per share and $2.18 per share for 2013, 2014, 2015 respectively)				(258,598)		(258,598)		(258,598)
Net income			221,349			221,349		221,349
Balance (112,393 common shares, 123,530 common shares, 127,606 common shares, 187,399 shares for 2012, 2013, 2014, 2015 respectively) at Dec. 31, 2014	12,761	2,136,234	1,147,998	(1,895,666)		1,401,327		1,401,327
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Grant of restricted stock (15 shares at $30.33 per share, 12 shares at $35.79 and 21 shares at $35.70 per share to company directors for 2013, 2014 and 2015 respectively)	2	(2)
Amortization of restricted stock		11,133				11,133		11,133
Vesting of equity compensation plan, net of tax withholdings (941 shares)	94	(26,800)				(26,706)		(26,706)
Dividend reinvestment plan (1,930 shares at $28.94 per share, 2,084 shares at $34.32 per share, 4,184 shares at $36.06 per share for 2013, 2014, 2015 respectively)	418	150,429				150,847		150,847
Value of assumed options in Merger		109,346				109,346		109,346
Value of assumed other equity compensation plan in Merger		12,644				12,644		12,644
Grant of stock as payment of directors fees (6 shares at an average of $31.21 per share, 6 shares at an average of $35.52 per share, 9 shares at an average of $35.94 per share for 2013, 2014, 2015 respectively)	1	312				313		313
Deferred compensation directors		1,444				1,444		1,444
Issuance of common stock (2,875 shares at $29.48 per share and 10,925 shares at an average of $40.32 per share for 2013 and 2015, respectively)	1,093	438,229				439,322		439,322
Issuance of common stock - Merger - related ( 43,713 shares)	4,371	1,776,505				1,780,876		1,780,876
Common dividends ($1.86 per share, $2.02 per share and $2.18 per share for 2013, 2014, 2015 respectively)				(358,372)		(358,372)		(358,372)
OP units issuance (9,165 units)							$ 373,394	373,394
Cash conversion of OP units (209 units)							(7,251)	(7,251)
OP units distributions							(11,636)	(11,636)
Foreign currency translation					$ (8,027)	(8,027)	(386)	(8,413)
Cash flow hedges					(685)	(685)	(33)	(718)
Net income			224,524			224,524	8,791	233,315
Balance (112,393 common shares, 123,530 common shares, 127,606 common shares, 187,399 shares for 2012, 2013, 2014, 2015 respectively) at Dec. 31, 2015	$ 18,740	$ 4,609,474	$ 1,372,522	$ (2,254,038)	$ (8,712)	$ 3,737,986	$ 362,879	$ 4,100,865

CONSOLIDATED STATEMENTS OF CHA6

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parentheticals) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) In Stockholders' Equity [Roll Forward]
Balance (in shares)	127,606	123,530	112,393
Grant of restricted stock (in shares)	21	12	15
Grant of restricted stock (in dollars per share)	$ 35.70	$ 35.79	$ 30.33
Restricted stock shares surrendered for tax withholding (in shares)			193
Vesting of restricted stock, granted shares		126
Vesting of equity compensation plan, net of tax withholdings	941
Dividend reinvestment plan (in shares)	4,184	2,084	1,930
Dividend reinvestment plan (in dollars per share)	$ 36.06	$ 34.32	$ 28.94
Grant of stock as payment of directors fees (in shares)	9	6	6
Grant of stock as payment of directors fees (in dollars per share)	$ 35.94	$ 35.52	$ 31.21
Equity shelf program (in shares)		1,848	6,504
Equity Shelf Program, (in dollars per share)		$ 34.33	$ 30.48
Issuance of common stock (in shares)	10,925		2,875
Issuance of common stock, (in dollars per share)	$ 40.32		$ 29.48
Issuance of common stock - merger - related (in shares)	43,713
OP units issuance	9,165
Cash conversion of OP units	209
Common dividends (in dollars per share)	$ 2.18	$ 2.02	$ 1.86
Balance (in shares)	187,399	127,606	123,530
Balance (in units)	8,956

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income	$ 233,315	$ 221,349	$ 172,521
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	210,703	123,257	128,646
Provision for impairment on real estate properties	17,681	3,660	415
Provision for uncollectible mortgages, notes and accounts receivable	7,871	2,723	2,141
Amortization of deferred financing costs and refinancing costs	35,827	7,500	(8,333)
Accretion of direct financing leases	(11,007)	(9,787)	(770)
Restricted stock amortization expense	11,133	8,592	5,942
(Gain) loss on assets sold - net	(6,353)	(2,863)	1,151
Amortization of acquired in-place leases - net	(13,846)	(4,986)	(5,083)
Change in operating assets and liabilities - net of amounts assumed/acquired:
Accounts receivable, net	248	(2,264)	867
Straight-line rent receivables	(36,057)	(20,956)	(26,899)
Lease inducements	994	2,656	3,080
Effective yield receivable on mortgage notes	(4,065)	(2,878)	(1,757)
Other operating assets and liabilities	17,441	11,537	8,028
Net cash provided by operating activities	463,885	337,540	279,949
Cash flows from investing activities
Acquisition of real estate - net of liabilities assumed and escrows acquired	(294,182)	(131,689)	(32,515)
Cash acquired in merger	84,858
Investment in construction in progress	(164,226)
Investment in direct financing leases	(6,793)		(528,675)
Placement of mortgage loans	(14,042)	(529,548)	(3,378)
Proceeds from sale of real estate investments	41,543	4,077	2,292
Capital improvements to real estate investments	(26,397)	(17,917)	(31,347)
Proceeds from other investments	45,871	13,589	30,962
Investments in other investments	(65,402)	(9,441)	(36,655)
Collection of mortgage principal	1,359	122,984	485
Net cash used in investing activities	(397,411)	(547,945)	(598,831)
Cash flows from financing activities
Proceeds from credit facility borrowings	1,826,000	900,000	511,000
Payments on credit facility borrowings	(1,681,000)	(1,141,000)	(343,000)
Receipts of other long-term borrowings	1,838,124	842,148	159,355
Payments of other long-term borrowings	(2,187,314)	(242,544)	(114,642)
Payments of financing related costs	(54,721)	(17,716)	(3,234)
Receipts from dividend reinvestment plan	150,847	71,487	55,825
Payments for exercised options and restricted stock - net	(26,706)	(3,577)	(5,774)
Net proceeds from issuance of common stock	439,322	61,981	278,373
Dividends paid	(358,232)	(258,501)	(218,116)
Distributions to OP Unit Holders	(11,636)
Net cash (used in) provided by financing activities	(65,316)	212,278	319,787
Increase in cash and cash equivalents	1,158	1,873	905
Effect of foreign currency translation on cash and cash equivalents	(223)
Cash and cash equivalents at beginning of year	4,489	2,616	1,711
Cash and cash equivalents at end of year	5,424	4,489	2,616
Interest paid during the year, net of amounts capitalized	145,929	$ 110,919	$ 100,716
Non-cash investing activities
Non-cash acquisition of business (see Note 3 for details)	(3,602,040)
Total	(3,602,040)
Non-cash financing activities
Assumed Aviv debt	1,410,637
Stock exchanged in Merger	1,902,866
OP Units exchanged in Merger	373,394
Cash flow hedges	718
Total	$ 3,687,615

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION Organization Omega Healthcare Investors, Inc. (“Omega,” “we,” “our” or the “Company”) has one reportable segment consisting of investments in healthcare-related real estate properties located in the United States and the United Kingdom. Our core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (“SNFs”). Our core portfolio consists of long-term leases and mortgage agreements. All of our leases are “triple-net” leases, which require the tenants to pay all property-related expenses. Our mortgage revenue derives from fixed rate mortgage loans, which are secured by first mortgage liens on the underlying real estate and personal property of the mortgagor. Omega was formed as a real estate investment trust (“REIT”) and incorporated in the State of Maryland on March 31, 1992. In April 2015, Aviv REIT, Inc., a Maryland corporation (“Aviv”), merged (the “Aviv Merger”) with and into a wholly-owned subsidiary of Omega, pursuant to the terms of that certain Agreement and Plan of Merger, dated as of October 30, 2014 (the “Merger Agreement”), by and among the Company, Aviv, OHI Healthcare Properties Holdco, Inc., a Delaware corporation and a direct wholly-owned subsidiary of Omega (“Merger Sub”), OHI Healthcare Properties Limited Partnership, a Delaware limited partnership (“Omega OP”), and Aviv Healthcare Properties Limited Partnership, a Delaware limited partnership (the “Aviv OP”). Prior to April 1, 2015 and in accordance with the Merger Agreement, Omega restructured the manner in which it holds its assets by converting to an umbrella partnership real estate investment trust structure (the “UPREIT Conversion”). As a result of the UPREIT Conversion and following the consummation of the Aviv Merger, substantially all of the Company’s assets are held by Omega OP. Omega OP is governed by the Second Amended and Restated Agreement of Limited Partnership of OHI Healthcare Properties Limited Partnership, dated as of April 1, 2015 (the “Partnership Agreement”). Pursuant to the Partnership Agreement, the Company and Merger Sub are the general partners of Omega OP, and have exclusive control over Omega OP’s day-to-day management. As of December 31, 2015, the Company owned approximately 95% of the issued and outstanding units of partnership interest in Omega OP (“Omega OP Units”), and other investors owned approximately 5% of the Omega OP Units. Consolidation Our consolidated financial statements include the accounts of (i) Omega, (ii) Omega OP and (iii) all direct and indirect wholly-owned subsidiaries of Omega. All inter-company transactions and balances have been eliminated in consolidation, and our net earnings are reduced by the portion of net earnings attributable to noncontrolling interests.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value Measurement The Company measures and discloses the fair value of nonfinancial and financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: · Level 1 - quoted prices for identical instruments in active markets; · Level 2 - quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and · Level 3 - fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company measures fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at fair value. When available, the Company utilizes quoted market prices from an independent third party source to determine fair value and classifies such items in Level 1. In some instances where a market price is available, but the instrument is in an inactive or over-the-counter market, the Company consistently applies the dealer (market maker) pricing estimate and classifies such items in Level 2. If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and or market capitalization rates. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, these items could be classified in either Level 2 or Level 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by the Company include discounted cash flow and Monte Carlo valuation models. Risks and Uncertainties Our Company is subject to certain risks and uncertainties affecting the healthcare industry as a result of healthcare legislation and growing regulation by federal, state and local governments. Additionally, we are subject to risks and uncertainties as a result of changes affecting operators of nursing home facilities due to the actions of governmental agencies and insurers to limit the rising cost of healthcare services (see Note 9 – Concentration of Risk). Business Combinations We record the purchase of properties to net tangible and identified intangible assets acquired and liabilities assumed at their fair value. In making estimates of fair value for purposes of recording the purchase, we utilize a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. We also consider information obtained about each property as a result of our pre-acquisition due diligence, marketing and leasing activities as well as other critical valuation metrics such as capitalization rates and discount rates used to estimate the fair value of the tangible and intangible assets acquired (Level 3). When liabilities are assumed as part of a transaction, we consider information obtained about the liabilities and use similar valuation metrics (Level 3). In some instances when debt is assumed and an identifiable active market for similar debt is present, we use market interest rates for similar debt to estimate the fair value of the debt assumed (Level 2). The Company determines fair value as follows: · Land is determined based on third party appraisals. · Buildings and site improvements acquired are valued using a combination of discounted cash flow projections that assume certain future revenues and costs and consider capitalization and discount rates using current market conditions as well as replacement cost analysis. · Furniture and fixture is determined based on third party appraisals. · Intangible assets acquired are valued using a combination of discounted cash flow projections as well as other valuation techniques based on current market conditions for the intangible asset being acquired. When evaluating below market leases we consider extension options controlled by the lessee in our evaluation. For additional information regarding above and below market leases assumed as part of an acquisition see “In-Place Leases" below. · Other assets acquired and liabilities assumed are typically valued at stated amounts, which approximate fair value on the date of the acquisition. · Assumed debt balances are valued by discounting the remaining contractual cash flows using a current market rate of interest. · Stock based compensation and noncontrolling interests are valued using a stock price on the acquisition date. · Goodwill represents the purchase price in excess of the fair value of assets acquired and liabilities assumed and the cost associated with expanding our investment portfolio. Goodwill is not amortized. Real Estate Investments and Depreciation The costs of significant improvements, renovations and replacements, including interest are capitalized. In addition, we capitalize leasehold improvements when certain criteria are met, including when we supervise construction and will own the improvement. Expenditures for maintenance and repairs are charged to operations as they are incurred. Depreciation is computed on a straight-line basis over the estimated useful lives ranging from 20 to 40 years for buildings, eight to 15 years for site improvements, and three to 10 years for furniture, fixtures and equipment. Leasehold interests are amortized over the shorter of the estimated useful life or term of the lease. As of December 31, 2015 and 2014, we had identified conditional asset retirement obligations primarily related to the future removal and disposal of asbestos that is contained within certain of our real estate investment properties. The asbestos is appropriately contained, and we believe we are compliant with current environmental regulations. If these properties undergo major renovations or are demolished, certain environmental regulations are in place, which specify the manner in which asbestos must be handled and disposed. We are required to record the fair value of these conditional liabilities if they can be reasonably estimated. As of December 31, 2015 and 2014, sufficient information was not available to estimate our liability for conditional asset retirement obligations as the obligations to remove the asbestos from these properties have indeterminable settlement dates. As such, no liability for conditional asset retirement obligations was recorded on our accompanying Consolidated Balance Sheets as of December 31, 2015 and 2014. Lease Accounting At the inception of the lease and during the amendment process, we evaluate each lease to determine if the lease should be considered an operating lease, sales-type lease, or direct financing lease. We have determined that all but seven of our leases should be accounted for as operating leases. The other seven leases are accounted for as direct financing leases. For leases accounted for as operating leases, we retain ownership of the asset and record depreciation expense, see “Business Combinations” and “Real Estate Investments and Depreciation” above for additional information regarding our investment in real estate leased under operating lease agreements. We also record lease revenue based on the contractual terms of the operating lease agreement which often includes annual rent escalators, see “Revenue Recognition” below for further discussion regarding the recordation of revenue on our operating leases. For leases accounted for as , we record the present value of the future minimum lease payments (utilizing a constant interest rate over the term of the lease agreement) as a receivable and record In-Place Leases In-place lease assets and liabilities result when we assume a lease as part of a facility purchase or business combination. The fair value of in-place leases consists of the following components, as applicable (1) the estimated cost to replace the leases, and (2) the above or below market cash flow of the leases, determined by comparing the projected cash flows of the leases in place at the time of acquisition to projected cash flows of comparable market-rate leases (referred to as Lease Intangibles). Lease Intangible assets and liabilities are classified as lease contracts above and below market value, respectively in “other assets” and “accrued expenses and other liabilities,” and amortized on a straight-line basis as decreases and increases, respectively, to rental income over the estimated remaining term of the underlying leases. Should a tenant terminate the lease, the unamortized portion of the Lease Intangible is recognized immediately as income or expense. As of December 31, 2015 and 2014, we had $110.2 million and $20.4 million, respectively, of below market lease liabilities and $7.8 million and $2.4 million, respectively, of above market lease assets recorded on our Consolidated Balance Sheets. We expect net amortization of the in-place leases to increase rental income by: (in millions) 2016 $ 16.0 2017 14.8 2018 13.1 2019 12.0 2020 11.7 Thereafter 34.8 Total $ 102.4 For the years ended December 31, 2015, 2014 and 2013, we have amortized $13.8 million, $5.0 million and $5.1 million, respectively, as a net increase to rental income. Amounts presented above include the preliminary purchase accounting for the Aviv Merger, see Note 3 - Properties. For additional information, see Note 8 – Intangibles. Asset Impairment Management evaluates our real estate investments for impairment indicators, including the evaluation of our assets’ useful lives. The judgment regarding the existence of impairment indicators is based on factors such as, but not limited to, market conditions, operator performance and legal structure. If indicators of impairment are present, management evaluates the carrying value of the related real estate investments in relation to the future undiscounted cash flows of the underlying facilities. Provisions for impairment losses related to long-lived assets are recognized when expected future undiscounted cash flows are determined to be less than the carrying values of the assets. An adjustment is made to the net carrying value of the real estate investments for the excess of carrying value over fair value . If we decide to sell real estate properties or land holdings, we evaluate the recoverability of the carrying amounts of the assets. If the evaluation indicates that the carrying value is not recoverable from estimated net sales proceeds, the property is written down to estimated fair value less costs to sell. Our estimates of cash flows and fair values of the properties are based on current market conditions and consider matters such as rental rates and occupancies for comparable properties, recent sales data for comparable properties, and, where applicable, contracts or the results of negotiations with purchasers or prospective purchasers. For the years ended December 31, 2015, 2014 and 2013, we recognized impairment losses of $17.7 million, $3.7 million and $0.4 million, respectively. The impairments are primarily the result of closing facilities or updating the estimated proceeds we expect to receive for the sale of closed facilities. For additional information, see Note 3 – Properties and Note 7 – Assets Held For Sale. Loan and Direct Financing Lease Impairment Management evaluates our outstanding mortgage notes, direct financing leases and other notes receivable for impairment. When management identifies potential loan or direct financing lease impairment indicators, such as non-payment under the loan documents, impairment of the underlying collateral, financial difficulty of the operator or other circumstances that may impair full execution of the loan documents or direct financing leases, and management believes it is probable that all amounts will not be collected under the contractual terms of the loan or direct financing lease, the loan or direct financing lease is written down to the present value of the expected future cash flows. In cases where expected future cash flows are not readily determinable, the loan or direct financing lease is written down to the fair value of the collateral. The fair value of the loan or direct financing lease is determined by market research, which includes valuing the property as a nursing home as well as other alternative uses. We account for impaired loans and direct financing leases using (a) the cost-recovery method, and/or (b) the cash basis method. We generally utilize the cost-recovery method for impaired loans or direct financing leases for which impairment reserves were recorded. We utilize the cash basis method for impaired loans or direct financing leases for which no impairment reserves were recorded because the net present value of the discounted cash flows expected under the loan or direct financing lease and or the underlying collateral supporting the loan or direct financing lease were equal to or exceeded the book value of the loans or direct financing leases. Under the cost-recovery method, we apply cash received against the outstanding loan balance or direct financing lease prior to recording interest income. Under the cash basis method, we apply cash received to principal or interest income based on the terms of the agreement. As of December 31, 2015 we had $3.0 million of reserves on our loans and no reserves on our direct financing leases. As of December 31, 2014, we had no reserves on our loans or direct financing leases. For additional information, see Note 4 – Direct Financing Leases, Note 5 – Mortgage Notes Receivable and Note 6 – Other Investments. Assets Held for Sale We consider properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we expect the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property's value at the lower of its carrying value or its estimated fair value, less estimated costs to sell, and we cease depreciation. For additional information, see Note 7 – Assets Held for Sale. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments with a maturity date of three months or less when purchased. These investments are stated at cost, which approximates fair value. The majority of our cash and cash equivalents are held at major commercial banks. Restricted Cash Restricted cash consists primarily of funds escrowed for tenants’ security deposits required by us pursuant to certain contractual terms (see Note 10 – Lease and Mortgage Deposits). Accounts Receivable Accounts receivable includes: contractual receivables, effective yield interest receivables, straight-line rent receivables and lease inducements, net of an estimated provision for losses related to uncollectible and disputed accounts. Contractual receivables relate to the amounts currently owed to us under the terms of the lease agreement. Effective yield interest receivables relate to the difference between the interest income recognized on an effective yield basis over the term of the loan agreement and the interest currently due to us according to the contractual agreement. Straight-line receivables relate to the difference between the rental revenue recognized on a straight-line basis and the amounts due to us contractually. Lease inducements result from value provided by us to the lessee at the inception or renewal of the lease are amortized as a reduction of rental revenue over the non cancellable lease term. On a quarterly basis, we review our accounts receivable to determine their collectability. The determination of collectability of these assets requires significant judgment and is affected by several factors relating to the credit quality of our operators that we regularly monitor, including (i) payment history, (ii) the age of the contractual receivables, (iii) the current economic conditions and reimbursement environment, (iv) the ability of the tenant to perform under the terms of their lease and/or contractual loan agreements and (v) the value of the underlying collateral of the agreement. If we determine collectability of any of our contractual receivables is at risk, we estimate the potential uncollectible amounts and provide an allowance. In the case of a lease recognized on a straight-line basis or existence of lease inducements, we generally provide an allowance for straight-line accounts receivable and/or the lease inducements when certain conditions or indicators of adverse collectability are present. A summary of our net receivables by type is as follows: December 31, 2015 2014 (in thousands) Contractual receivables $ 8,452 $ 4,799 Effective yield interest receivables 9,028 6,232 Straight-line receivables 175,709 143,652 Lease inducements 10,982 13,571 Allowance (309 ) (78 ) Accounts receivable – net $ 203,862 $ 168,176 We continuously evaluate the payment history and financial strength of our operators and have historically established allowance reserves for straight-line rent receivables from operators that do not meet our requirements. We consider factors such as payment history, the operator’s financial condition as well as current and future anticipated operating trends when evaluating whether to establish allowance reserves. In 2015, we wrote-off $3.2 million of straight-line rent receivables and $1.5 million of effective yield interest receivables associated with four facilities that will transition to a new operator and three mortgages that will be repaid prior to their maturity. This transaction closed in 2016. In 2014, we wrote-off (i) $0.8 million of straight-line rent receivables associated with a lease amendment to an existing operator for two facilities that were transitioned to a new operator and (ii) $2.0 million of effective yield interest receivables associated with the termination of a mortgage note that was due November 2021. See Note 3 – Properties and Note 5 – Mortgage Notes Receivable for additional information. Goodwill Impairment We assess goodwill for potential impairment during the fourth quarter of each fiscal year, or during the year if an event or other circumstance indicates that we may not be able to recover the carrying amount of the net assets of the reporting unit. In evaluating goodwill for impairment, we first assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of the reporting unit is less than its carrying amount. If we conclude that it is more likely than not that the fair value of the reporting unit is less than its carrying value, then we perform a two-step goodwill impairment test to identify potential impairment and measure the amount of impairment we will recognize, if any. We do not expect any of the goodwill to be deductible for tax purposes. In the first step of the two-step goodwill impairment test (“Step 1”), we compare the fair value of the reporting unit to its net book value, including goodwill. As the Company has only one reporting unit, the fair value of the reporting unit is determined by reference to the market capitalization of the Company as determined through quoted market prices and adjusted for other relevant factors. A potential impairment exists if the fair value of the reporting unit is lower than its net book value. The second step (“Step 2”) of the process is only performed if a potential impairment exists, and it involves determining the difference between the fair value of the reporting unit's net assets other than goodwill and the fair value of the reporting unit. If the difference is less than the net book value of goodwill, impairment exists and is recorded. In the event that the Company determines that the value of goodwill has become impaired, the Company will record an accounting charge for the amount of impairment during the fiscal quarter in which the determination is made. The Company has not been required to perform Step 2 of the process because the fair value of the reporting unit has significantly exceeded its book value at the measurement date. There was no impairment of goodwill during 2015. Income Taxes We were organized to qualify for taxation as a REIT under Section 856 through 860 of the Internal Revenue Code (“Code”). As long as we qualify as a REIT; we will not be subject to federal income taxes on the REIT taxable income that we distributed to stockholders, subject to certain exceptions. However, with respect to certain of our subsidiaries that have elected to be treated as taxable REIT subsidiaries (“TRSs”), we record income tax expense or benefit, as those entities are subject to federal income tax similar to regular corporations. We account for deferred income taxes using the asset and liability method and recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in our financial statements or tax returns. Under this method, we determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes us to change our judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if we believe it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes us to change our judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. For additional information on income taxes, see Note 13 – Taxes. Revenue Recognition We have various different investments that generate revenue, including leased and mortgaged properties, as well as other investments, including working capital loans. We recognize rental income and other investment income as earned over the terms of the related leases and notes, respectively. Interest income is recorded on an accrual basis to the extent that such amounts are expected to be collected using the effective interest method. In applying the effective interest method, the effective yield on a loan is determined based on its contractual payment terms, adjusted for prepayment terms. Substantially all of our operating leases contain provisions for specified annual increases over the rents of the prior year and are generally computed in one of three methods depending on specific provisions of each lease as follows: (i) a specific annual increase over the prior year’s rent, generally between 2.0% and 3.0%; (ii) an increase based on the change in pre-determined formulas from year to year (e.g. increases in the Consumer Price Index); or (iii) specific dollar increases over prior years. Revenue under lease arrangements with minimum fixed and determinable increases is recognized over the non-cancellable term of the lease on a straight-line basis. The authoritative guidance does not provide for the recognition of contingent revenue until all possible contingencies have been eliminated. We consider the operating history of the lessee, the payment history, the general condition of the industry and various other factors when evaluating whether all possible contingencies have been eliminated. We do not recognize contingent rents as income until the contingencies have been resolved. In the case of rental revenue recognized on a straight-line basis, we generally record reserves against earned revenues from leases when collection becomes questionable or when negotiations for restructurings of troubled operators result in significant uncertainty regarding ultimate collection. The amount of the reserve is estimated based on what management believes will likely be collected. We continually evaluate the collectability of our straight-line rent assets. If it appears that we will not collect future rent due under our leases, we will record a provision for loss related to the straight-line rent asset. We record direct financing lease income on a constant interest rate basis over the term of the lease. The costs related to originating the direct financing leases have been deferred and are being amortized on a straight-line basis as a reduction to income from direct financing leases over the term of the direct financing leases. Mortgage interest income is recognized as earned over the terms of the related mortgage notes, using the effective yield method. Allowances are provided against earned revenues from mortgage interest when collection of amounts due becomes questionable or when negotiations for restructurings of troubled operators lead to lower expectations regarding ultimate collection. When collection is uncertain, mortgage interest income on impaired mortgage loans is recognized as received after taking into account application of security deposits. Gains on sales of real estate assets are recognized in accordance with the authoritative guidance for sales of real estate. The specific timing of the recognition of the sale and the related gain is measured against the various criteria in the guidance related to the terms of the transactions and any continuing involvement associated with the assets sold. To the extent the sales criteria are not met, we defer gain recognition until the sales criteria are met. Stock-Based Compensation We recognize stock-based compensation expense adjusted for estimated forfeitures to employees and directors, in “general and administrative” in our Consolidated Statements of Operations and Comprehensive Income on a straight-line basis over the requisite service period of the awards, see Note 16 – Stock-Based Compensation for additional details. Deferred Financing Costs and Original Issuance Premium and/or Discounts for Debt Issuance External costs incurred from placement of our debt are capitalized and amortized on a straight-line basis over the terms of the related borrowings which approximates the effective interest method. The deferred financing costs are included in “other assets” in our Consolidated Balance Sheets. Original issuance premium or discounts reflect the difference between the face amount of the debt issued and the cash proceeds received and are amortized on a straight-line basis over the term of the related borrowings. All premium and discounts are recorded as an addition to or reduction from debt in our Consolidated Balance Sheets. Amortization of financing costs and original issuance premium or discounts total $7.0 million, $4.5 million and $2.8 million in 2015, 2014 and 2013, respectively, and are classified as “interest - amortization of deferred financing costs” in our Consolidated Statements of Operations and Comprehensive Income. When financings are terminated, unamortized deferred financing costs and unamortized premium or discounts, as well as charges incurred for the termination, are recognized as expense or income at the time the termination is made. Gains and losses from the extinguishment of debt are presented in “interest-refinancing (costs) gain” in our Consolidated Statements of Operations and Comprehensive Income. Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding during the year. Diluted EPS is computed using the treasury stock method, which is net income divided by the total weighted-average number of common outstanding shares plus the effect of dilutive common equivalent shares during the respective period. Dilutive common shares reflect the assumed issuance of additional common shares pursuant to certain of our share-based compensation plans, including stock options, restricted stock and performance restricted stock units and the assumed issuance of additional shares related to Omega OP Units held by outside investors. All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends or dividend equivalents that participate in undistributed earnings with common stockholders are considered participating securities that shall be included in the two-class method of computing basic EPS. The impact of the two class method is immaterial. For additional information, see Note 20 – Earnings Per Share. Redeemable Limited Partnership Unitholder Interests and Noncontrolling Interests As of April 1, 2015 and after giving effect to the Aviv Merger, the Company owned approximately 138.8 million Omega OP Units and Aviv OP owned approximately 52.9 million Omega OP Units. Each of the Omega OP Units (other than the Omega OP Units owned by Omega) is redeemable at the election of the Omega OP Unit holder for cash equal to the then-fair market value of one share of Omega common stock, par value $0.10 per share (“Omega Common Stock”), subject to the Company’s election to exchange the Omega OP Units tendered for redemption for unregistered shares of Omega Common Stock on a one-for-one basis, subject to adjustment as set forth in the Partnership Agreement. Effective June 30, 2015, the Company (through Merger Sub, in its capacity as the general partner of Aviv OP) caused Aviv OP to make a distribution of Omega OP Units held by Aviv OP (or equivalent value) to Aviv OP investors (the “Aviv OP Distribution”) in connection with the liquidation of Aviv OP. As a result of the Aviv OP Distribution, Omega directly and indirectly owned approximately 95% of the outstanding Omega OP Units, and the other investors own approximately 5% of the outstanding Omega OP Units. As a part of the Aviv OP Distribution, Omega settled approximately 0.2 million units via cash settlement. As of December 31, 2015, Omega directly and indirectly owns approximately 95% of the outstanding Omega OP Units, and the other investors own approximately 5% of the outstanding Omega OP Units. Noncontrolling Interests Noncontrolling interests is the portion of equity in the Omega OP not attributable to the Company. We present the portion of any equity that we do not own in consolidated entities as noncontrolling interests and classify those interests as a component of total equity, separate from total stockholders’ equity, on our Consolidated Balance Sheets. We include net income attributable to the noncontrolling interests in net income in our Consolidated Statements of Operations and Comprehensive Income. As our ownership of a controlled subsidiary increases or decreases, any difference between the aggregate consideration paid to acquire the noncontrolling interests and our noncontrolling interest balance is recorded as a component of equity in additional paid-in capital, so long as we maintain

PROPERTIES

PROPERTIES	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
PROPERTIES	NOTE 3 - PROPERTIES Leased Property Our leased real estate properties, represented by 782 SNFs, 85 ALFs, 16 specialty facilities and one medical office building at December 31, 2015, are leased under provisions of single leases and master leases with initial terms typically ranging from 5 to 15 years, plus renewal options. Substantially all of the single leases and master leases provide for minimum annual rentals that are typically subject to annual increases. Under the terms of the leases, the lessee is responsible for all maintenance, repairs, taxes and insurance on the leased properties. A summary of our investment in leased real estate properties is as follows: December 31, 2015 2014 (in thousands) Buildings $ 5,514,820 $ 2,745,872 Site improvements and equipment 558,222 227,411 Land 670,916 250,502 6,743,958 3,223,785 Less accumulated depreciation (1,019,150 ) (821,712 ) Total $ 5,724,808 $ 2,402,073 At December 31, 2015, we have approximately $194.3 million of projects currently under development which includes $3.7 million of capitalized interest. The future minimum estimated contractual rents due for the remainder of the initial terms of the leases are as follows at December 31, 2015: (in thousands) 2016 $ 628,906 2017 638,232 2018 619,251 2019 592,657 2020 600,652 Thereafter 3,198,157 Total $ 6,277,855 The following tables summarize the significant transactions that occurred from 2013 to 2015. The 2015 table excludes the acquisition of Care Homes in the United Kingdom and the Aviv Merger in the second quarter of 2015, which are discussed separately below. 2015 Acquisitions and Other Number of Facilities Number of Total Land Building & Site Furniture Initial Cash Yield Period SNF ALF State Beds Investment (in millions) (%) Q1 1 - TX 93 $ 6.8 $ 0.1 $ 6.1 $ 0.6 9.50 Q3 6 - NE 530 15.0 1.4 12.1 1.5 9.00 Q3 1 2 WA 136 18.0 2.2 14.9 0.9 8.00 Q3 - 2 GA 125 10.8 1.2 9.0 0.6 7.00 Q3 1 - VA 300 28.5 (1) 1.9 24.2 2.4 9.25 Q3 2 - FL 260 32.0 (4) 1.4 29.0 1.6 9.00 Q3 - - NY - 111.7 (2)(3) 111.7 - - - Q4 1 - AZ 6 0.6 (3) 0.3 0.3 - 9.00 Q4 1 - TX 92 5.3 1.8 3.0 0.5 9.50 Total 13 4 1,542 $ 228.7 $ 122.0 $ 98.6 $ 8.1 (1) In July 2015, we leased the facility to a new operator with an initial lease term of 10 years. (2) On July 24, 2015, we purchased five buildings located in New York City, New York for approximately $111.7 million. We and our operator plan to construct a 201,000 square-foot assisted living and memory care facility. The properties were added to the operator’s existing master lease. The lease provides for a 5% annual cash yield on the land during the construction phase. Upon issuance of a certification of occupancy, the annual cash yield will increase to 7% in year one and 8% in year two with annual 2.5% annual escalators thereafter. (3) Accounted for as an asset acquisition. (4) The Company estimated the fair value of the assets acquired on the acquisition date based on certain valuation analyses that have yet to be finalized, and accordingly, the assets acquired, as detailed, are subject to adjustment one the analyses are completed. For the year ended December 31, 2015, we recognized revenue attributable to the aforementioned acquisitions of approximately $4.9 million and net income attributable to the acquisitions of approximately $2.3 million. Acquisition costs related to the above were expensed as period costs. For the year ended December 31, 2015, we expensed $2.2 million of acquisition related costs. No goodwill was recorded in connection with these acquisitions. Acquisition of Care Homes in the United Kingdom On May 1, 2015, we closed on a purchase/leaseback Care Homes Transaction (the “Care Homes Transaction”) for 23 care homes located in the United Kingdom and operated by Healthcare Homes Holding Limited (“Healthcare Homes”). As part of the transaction, we acquired title to the 23 care homes with 1,018 registered beds and leased them back to Healthcare Homes pursuant to a 12-year master lease agreement with an initial annual cash yield of 7%, and annual escalators of 2.5%. The care homes, comparable to assisted living facilities (“ALFs”) in the United States, are located throughout the East Anglia region (north of London) of the United Kingdom. Healthcare Homes is headquartered in Colchester (Essex County), England. We recorded approximately $193.8 million of assets consisting of land ($20.7 million), building and site improvements ($152.1 million), furniture and fixtures ($5.3 million) and goodwill ($15.7 million). In 2015, we incurred approximately $3.2 million in acquisition related costs associated with the Care Homes Transaction. For the year ended December 31, 2015, we recognized approximately $9.5 million of rental revenue in connection with the Care Homes Transaction. Aviv Merger On April 1, 2015, Omega completed the Aviv Merger, which was structured as a stock-for-stock merger. Under the terms of the Merger Agreement, each outstanding share of Aviv common stock was converted into 0.90 of a share of Omega common stock. In connection with the Aviv Merger, Omega issued approximately 43.7 million shares of common stock to former Aviv stockholders. As a result of the Aviv Merger, Omega acquired 342 facilities, two facilities subject to direct financing leases, one medical office building, two mortgages and other investments. The facilities are located in 31 states and are operated by 38 third-party operators. Omega also assumed certain outstanding equity awards and other debt and liabilities. Based on the closing price of Omega’s common stock on April, 1, 2015, we estimate the fair value of the consideration exchanged or assumed to be approximately $3.9 billion. Omega's estimated fair values of Aviv’s assets acquired and liabilities assumed on the Aviv Merger date are determined based on certain valuations and analyses. The Company has not yet finalized its analysis of the fair value of acquired land and buildings and intangible assets and liabilities. As such the amounts reflected below for those items are subject to further adjustment. Any change may have an impact on the reported goodwill. The following table highlights the preliminary fair value of the assets acquired and liabilities assumed on April 1, 2015: (in thousands) Estimated fair value of assets acquired: Land and buildings $ 3,108,078 Investment in direct financing leases 26,823 Mortgages notes receivable 19,246 Other investments 23,619 Total investments 3,177,766 Goodwill 630,404 Accounts receivables and other assets 15,500 Cash acquired 84,858 Fair value of total assets acquired $ 3,908,528 Estimated fair value of liabilities assumed: Accrued expenses and other liabilities $ 221,631 Debt 1,410,637 Fair value of total liabilities assumed 1,632,268 Value of shares and OP units exchanged (a) 2,276,260 Fair value of consideration $ 3,908,528 (a) Includes the fair value of stock compensation plans assumed. In 2015, we incurred approximately $52.1 million in acquisition related costs associated with the Aviv Merger. For the year ended December 31, 2015, we recognized approximately $188.4 million of total revenue in connection with the Aviv Merger. Included within accrued expenses and other liabilities is a $67.3 million contingent liability related to a leasing arrangement with an operator assumed as a result of the Aviv Merger. During the fourth quarter of 2015, we adjusted the preliminary fair value of the in place lease assets and liabilities that we provisionally recognized on April 1, 2015 in connection with the Aviv Merger. We increased the fair value of the in place lease assets and in place lease liabilities to $8.2 million and $105.5 million, respectively which resulted in a $79.0 million net increase in goodwill (see Note 8 – Intangibles). The change to the provisional amounts resulted in an $8.2 million increase in rental income, of which $2.7 million relates to the second and third quarters of 2015, respectively. 2014 Acquisitions and Other Number of Facilities Number of Total Land Building & Site Improvements Furniture & Fixtures Initial Yield Period SNF ALF State Operating Beds Investment (in millions) (%) Q1 - 1 AZ 90 $ 4.7 $ 0.4 $ 3.9 $ 0.4 9.75 Q2/Q3 3 - GA, SC 345 34.6 0.9 32.1 1.6 9.50 Q3 1 - TX 125 8.2 0.4 7.4 0.4 9.75 Q4 - 4 PA,OR,AR 371 84.2 5.1 76.7 2.4 6.00 4 5 931 $ 131.7 $ 6.8 $ 120.1 $ 4.8 For the year ended December 31, 2014, we recognized revenue attributable to the acquisitions of approximately $3.2 million and net income attributable to the acquisitions of approximately $1.2 million. Acquisition costs related to the above transactions were expensed as period costs. For the year ended December 31, 2014, we expensed $3.9 million of acquisition related costs. Transition of Two West Virginia Facilities to a New Operator On July 1, 2014, we transitioned two West Virginia SNFs that we previously leased to Diversicare Healthcare Services (“Diversicare” and formerly known as Advocat) to a new unrelated third party operator. The two facilities represent 150 operating beds. We amended our Diversicare master lease to reflect the transition of the two facilities to the new operator and for the year ended December 31, 2014 recorded a $0.8 million provision for uncollectible straight-line accounts receivable. Simultaneous with the Diversicare master lease amendment, we entered into a 12-year master lease with a new third party operator. 2013 Acquisitions and Other Number of Facilities Number of Total Land Building & Site Furniture Initial Cash Period SNF ALF State Beds Investment (in millions) (%) Q4 - 1 FL 97 $ 10.3 $ 0.6 $ 9.0 $ 0.7 7.25 Q4 4 - IN 384 25.2 (1) 0.7 21.8 2.7 9.70 Total 4 1 481 $ 35.5 $ 1.3 $ 30.8 $ 3.4 (1) On October 31, 2013, we recorded approximately $3.0 million to below market leases as a result of the transaction for a total investment of $25.2 million. Acquisition costs related to the above transactions were expensed as a period cost. For the year ended December 31, 2013, we expensed $0.2 million of acquisition related costs. Transition of 11 Arkansas Facilities to a New Operator On August 30, 2013, we transitioned 11 SNFs located in Arkansas that we previously leased to Diversicare Healthcare Services to a new third party operator. The 11 facilities represent 1,084 operating beds. We amended our Diversicare master lease to provide for reduced rent to reflect the transition of the 11 facilities to the new operator, and recorded a $2.3 million provision for uncollectible straight-line rent receivable. Simultaneously with the amendment to the Diversicare master lease, we entered into a new master lease with the new third party operator of the 11 facilities. The new master lease expires on August 31, 2023 and includes fixed annual rent escalators. Pro Forma Acquisition Results The facilities acquired in 2015 and 2014 are included in our results of operations from the dates of acquisition. The following unaudited pro forma results reflect the impact of the acquisitions as if they occurred on January 1, 2014. In the opinion of management, all significant necessary adjustments to reflect the effect of the acquisitions have been made. The following pro forma information is not indicative of future operations. Pro Forma Year Ended December 31, 2015 2014 (in thousands, except per share amounts, unaudited) Pro forma revenues $ 817,642 $ 789,270 Pro forma net income $ 258,927 $ 318,271 Earnings per share – diluted: Net income – as reported $ 1.29 $ 1.74 Net income – pro forma $ 1.33 $ 1.74 Asset Sales, Impairments and Other In 2015, we sold seven SNFs (four previously held-for-sale) for total cash proceeds of approximately $41.5 million, generating a gain of approximately $6.4 million. We also recorded a total of $17.7 million provision for impairment related to six SNFs to reduce their net book value to their estimated fair value less costs to sell. To estimate the fair value of these facilities we utilized a market approach and Level 3 inputs. Two of the facilities are reclassified as assets held for sale. In 2014, we sold four SNFs (three previously held-for-sale) and a parcel of land for total cash proceeds of $4.1 million, resulting in a $2.9 million gain. We also closed two SNFs and recorded a $3.7 million provision for impairment related to these facilities. To estimate the fair value of these facilities we utilized a market approach and Level 3 inputs. See Note 7 – Assets Held For Sale for more details. In 2013, we sold one SNF and a parcel of land for total cash proceeds of $2.3 million resulting in a $1.2 million loss.

DIRECT FINANCING LEASES

DIRECT FINANCING LEASES	12 Months Ended
	Dec. 31, 2015
Leases, Capital [Abstract]
DIRECT FINANCING LEASES	NOTE 4 – DIRECT FINANCING LEASES The components of investment in direct financing leases consist of the following: December 31, 2015 2014 (in thousands) Minimum lease payments receivable $ 4,320,876 $ 4,244,067 Less unearned income (3,733,175 ) (3,704,835 ) Investment in direct financing leases - net $ 587,701 $ 539,232 Properties subject to direct financing leases 59 56 As of December 31, 2015 and 2014 we had seven direct financing leases with four different operators. The following table summarizes the investment in the direct financing leases by operator: December 31, 2015 2014 (in thousands) New Ark $ 560,308 $ 539,232 Reliance Health Care Management, Inc. 15,509 - Sun Mar Healthcare 11,381 - Markleysburg Healthcare Investors, LP 503 - Investment in direct financing leases - net $ 587,701 $ 539,232 New Ark Investment Inc. On November 27, 2013, we closed an aggregate $529 million purchase/leaseback transaction in connection with the acquisition of Ark Holding Company, Inc. (“Ark Holding”) by 4 West Holdings Inc. At closing, we acquired 55 SNFs and 1 ALF operated by Ark Holding and leased the facilities back to Ark Holding, now known as New Ark Investment Inc. (“New Ark”), pursuant to four 50-year master leases with rental payments yielding 10.6% per annum over the term of the leases. The purchase/leaseback transaction is being accounted for as a direct financing lease. The lease agreements allow the tenant the right to purchase the facilities for a bargain purchase price plus closing costs at the end of the lease term. In addition, commencing in the 41st year of each lease, the tenant will have the right to prepay the remainder of its obligations thereunder for an amount equal to the sum of the unamortized portion of the original aggregate $529 million investment plus the net present value of the remaining payments under the lease and closing costs. In the event the tenant exercises either of these options, we have the right to purchase the properties for fair value at the time. The 56 facilities represent 5,623 licensed beds located in 12 states, predominantly in the southeastern United States. The 56 facilities are separated by region and divided amongst four cross-defaulted master leases. The four regions include the Southeast (39 facilities), the Northwest (7 facilities), Texas (9 facilities) and Indiana (1 facility). Additionally, in June and July of 2014, we purchased three facilities and subsequently leased them to New Ark under a twelve-year master lease expiring in 2026. The 2014 three facility lease is being accounted for as an operating lease. Aviv Merger On April 1, 2015, we acquired two additional direct financing leases as a result of the Aviv Merger. As of December 31, 2015, the following minimum rents are due under our direct financing leases for the next five years (in thousands): Year 1 Year 2 Year 3 Year 4 Year 5 $50,141 $50,647 $51,905 $53,180 $54,475

MORTGAGE NOTES RECEIVABLE

MORTGAGE NOTES RECEIVABLE	12 Months Ended
	Dec. 31, 2015
Mortgage Notes Receivable Investments [Abstract]
MORTGAGE NOTES RECEIVABLE	NOTE 5 - MORTGAGE NOTES RECEIVABLE As of December 31, 2015, mortgage notes receivable relate to 26 fixed rate mortgages on 58 long-term care facilities. The mortgage notes are secured by first mortgage liens on the borrowers' underlying real estate and personal property. The mortgage notes receivable relate to facilities located in ten states, operated by eight independent healthcare operating companies. We monitor compliance with mortgages and when necessary have initiated collection, foreclosure and other proceedings with respect to certain outstanding loans. The outstanding principal amounts of mortgage notes receivable, net of allowances, were as follows: December 31, 2015 2014 (in thousands) Mortgage note due 2023; interest at 11.00% $ 69,928 $ 69,928 Mortgage note due 2024; interest at 9.64% 112,500 112,500 Mortgage note due 2029; interest at 9.23% 413,399 414,550 Other mortgage notes outstanding (1) 83,968 51,101 Mortgage notes receivable, gross 679,795 648,079 Allowance for loss on mortgage notes receivable — — Total mortgages — net $ 679,795 $ 648,079 (1) Other mortgage notes outstanding have stated interest rates ranging from 8.35% to 12.0% and maturity dates through 2046. Mortgage Note due 2023 The $69.9 million mortgage note is secured by seven facilities located in Maryland. The interest rate will accrue at a fixed rate of 11% per year through April 2018. After April 2018, the interest rate will increase to 13.75% per year. The mortgage note matures in December 2023. $112.5 Million of Mortgage Note due 2024 On January 17, 2014, we entered into a $112.5 million first mortgage loan with an existing operator. The loan is secured by 7 SNFs and 2 ALFs totaling 798 operating beds located in Pennsylvania (7) and Ohio (2). The loan is cross-defaulted and cross-collateralized with our existing master lease with the operator. $415 Million of Refinancing/Consolidating Mortgage Loans due 2029 On June 30, 2014, we entered into an agreement to refinance/consolidate $117 million in existing mortgages with maturity dates ranging from 2021 to 2023 on 17 facilities into one mortgage and simultaneously provide mortgage financing for an additional 14 facilities. The new $415 million mortgage matures in 2029 and is secured by 31 facilities totaling 3,430 licensed beds all located in the state of Michigan. The new loan bore an initial annual cash interest rate of 9.0% and increases by 0.225% per year (e.g., beginning in year 2 the interest rate will be 9.225%, in year 3 the rate will be 9.45%, etc.). One of the existing mortgages that was refinanced/consolidated into the new $415 million mortgage included annual interest rate escalators and required the mortgagee to pay a prepayment penalty in the event the mortgage was retired early which resulted in us recording an effective yield interest receivable. In connection with the refinancing/consolidating transaction which was entered into at market terms, the old mortgage was considered to be retired early since the modifications made to the terms of the mortgage were more than minor. As of the date of the refinancing/consolidation transaction, the effective yield interest receivable was approximately $2.0 million. We forgave the prepayment penalty associated with the retired mortgage and recorded a $2.0 million provision to write-off the effective yield interest receivable related to the retired mortgage.

OTHER INVESTMENTS

OTHER INVESTMENTS	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
OTHER INVESTMENTS	NOTE 6 - OTHER INVESTMENTS A summary of our other investments is as follows: December 31, 2015 2014 (in thousands) Other investment note due 2015; interest at 10.00% $ — $ 5,439 Other investment note due 2020; interest at 10.00% 23,000 20,000 Other investment note due 2023; interest at 9.00% 5,470 — Other investment note due 2030; interest at 6.66% 26,966 — Other investment notes outstanding (1) 36,823 23,513 Other investments, gross 92,259 48,952 Allowance for loss on other investments (2,960) — Total other investments $ 89,299 $ 48,952 (1) Other investment notes have maturity dates through 2027 and interest rates ranging from 6.50% to 12.0%. Other Investment Note due 2020 In December 2015, we amended our five year $28.0 million loan agreement with an existing operator. The amendment permits the operator to re-borrow $6.0 million under the original loan agreement. Omega funded $6.0 million to the operator in December 2015. The loan bears interest at 10% per annum and the maturity date was extended from 2017 to 2020. As of December 31, 2015, approximately $23.0 million remains outstanding. Other Investment Note due 2030 On June 30, 2015, we entered into a $50.0 million revolving credit facility with an operator. The note bears interest at approximately 6.66% and matures in 2030. As of December 31, 2015, approximately $27.0 million has been drawn and remains outstanding.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
ASSETS HELD FOR SALE	NOTE 7 – ASSETS HELD FOR SALE Properties Held-For-Sale Number of Net Book Value December 31, 2013 (1) 4 $ 1,356 Properties sold (2) (3 ) (686 ) Properties added 3 12,122 December 31, 2014 (1) 4 $ 12,792 Properties sold/other (3) (5 ) (16,877 ) Properties added (4) 4 10,684 December 31, 2015 (5) 3 $ 6,599 (1) Includes one parcel of land and three facilities. (2) In 2014, we sold these facilities for approximately $2.8 million in net proceeds recognizing a gain on sale of approximately $2.0 million. (3) In 2015, the parcel of land was reclassified to closed facilities. In addition, we sold four facilities for approximately $25.5 million in net proceeds recognizing a gain on sale of approximately $8.8 million. (4) In 2015, we recorded a $3.0 million impairment charge on a SNF in New Mexico to reduce its net book value to its estimated fair value less costs to sell. (5) Includes three facilities.

INTANGIBLES

INTANGIBLES	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLES	NOTE 8 – INTANGIBLES The following is a summary of our intangibles as of December 31, 2015 and 2014: December 31, 2015 2014 (in thousands) Assets: Goodwill $ 645,683 $ — Above market lease intangibles $ 21,901 14,576 In-place lease intangibles 386 — Accumulated amortization (14,162 ) (12,166 ) Net intangible assets $ 8,125 $ 2,410 Liabilities: Below market lease intangibles $ 165,331 $ 59,785 Accumulated amortization (55,131 ) (39,352 ) Net intangible liabilities $ 110,200 $ 20,433 Goodwill was recorded in connection with the Aviv Merger and Care Homes Transaction and is shown as a separate line on our Consolidated Balance Sheets. Above market lease intangibles and in-place lease intangibles, net of accumulated amortization, are included in other assets on our Consolidated Balance Sheets. Below market lease intangibles are included in accrued expenses and other liabilities on our Consolidated Balance Sheets. As disclosed in Note 3 – Properties, the amounts presented above are subject to further adjustment upon completion of purchase accounting for the Aviv Merger. For the years ended December 31, 2015, 2014 and 2013, our net amortization related to intangibles was $13.9 million, $5.0 million and $5.1 million, respectively. The estimated net amortization related to these intangibles for the subsequent five years is as follows: 2016 – $16.1 million; 2017 – $14.8 million; 2018 – $13.1 million; 2019 – $12.0 million and 2020 - $11.7 million. As of December 31, 2015 the weighted average remaining amortization period of in place lease assets and in place lease liabilities is 5.6 years and 8.2 years, respectively. The following is a reconciliation of our goodwill as of December 31 2015: (in thousands) Balance as of December 31, 2014 $ — Balance as of March 31, 2015 — Add: Aviv Merger 526,807 Add: acquisition of Care Homes 15,701 Add: foreign currency translation 585 Balance as of June 30, 2015 543,093 Add: additional valuation adjustments related to preliminary valuations (see Note 3 – Aviv Merger) 12,261 Less: foreign currency translation (605 ) Balance as of September 30, 2015 554,749 Add: additional valuation adjustments related to preliminary valuations (see Note 3 – Aviv Merger) 91,336 Add: additional valuation adjustments related to preliminary valuations (see Note 3 – Care Homes acquisition) 5 Less: foreign currency translation (407 ) Balance as of December 31, 2015 $ 645,683

CONCENTRATION OF RISK

CONCENTRATION OF RISK	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
CONCENTRATION OF RISK	NOTE 9 - CONCENTRATION OF RISK As of December 31, 2015, our portfolio of real estate investments consisted of 949 healthcare facilities, located in 42 states and the United Kingdom that are operated by 83 third party operators. Our gross investment in these facilities, net of impairments and before reserve for uncollectible loans, totaled approximately $8.0 billion at December 31, 2015, with approximately 99% of our real estate investments related to long-term care facilities. Our portfolio is made up of 782 SNFs, 85 ALFs, 16 specialty facilities, one medical office building, fixed rate mortgages on 56 SNFs and two ALFs, and seven SNFs that are closed/held-for-sale. At December 31, 2015, we also held miscellaneous investments of approximately $89.3 million, consisting primarily of secured loans to third-party operators of our facilities. At December 31, 2015, the three states in which we had our highest concentration of investments were Ohio (10%), Texas (9%) and Florida (9%). No single operator or manager generated more than 8% of our total revenues for the year ended December 31, 2015.

LEASE AND MORTGAGE DEPOSITS

LEASE AND MORTGAGE DEPOSITS	12 Months Ended
	Dec. 31, 2015
Security Deposits and Letters Of Credit [Abstract]
LEASE AND MORTGAGE DEPOSITS	NOTE 10 - LEASE AND MORTGAGE DEPOSITS We obtain liquidity deposits, security deposits and letters of credit from most operators pursuant to our lease and mortgage agreements with the operators. These generally represent the rental and mortgage interest for periods ranging from three to six months with respect to certain of our investments. At December 31, 2015, we held $5.8 million in liquidity deposits, $50.6 million in security deposits and $68.7 million in letters of credit. The liquidity deposits, security deposits and the letters of credit may be used in the event of lease and or loan defaults, subject to applicable limitations under bankruptcy law with respect to operators filing under Chapter 11 of the United States Bankruptcy Code. Liquidity deposits are recorded as restricted cash on our Consolidated Balance Sheets with the offset recorded as a liability in accrued expenses and other liabilities on our Consolidated Balance Sheets. Security deposits related to cash received from the operator are recorded in accrued expenses and other liabilities on our Consolidated Balance Sheets. Additional security for rental and mortgage interest revenue from operators is provided by covenants regarding minimum working capital and net worth, liens on accounts receivable and other operating assets of the operators, provisions for cross default, provisions for cross-collateralization and by corporate or personal guarantees.

BORROWING ARRANGEMENTS

BORROWING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
BORROWING ARRANGEMENTS	NOTE 11 - BORROWING ARRANGEMENTS The following is a summary of our long-term borrowings: Rate as of December 31, December 31, Maturity 2015 2015 2014 (in thousands) Secured borrowings: GE term loan 2019 4.00 % $ 180,000 $ — HUD mortgages assumed June 2010 — — — 120,665 HUD mortgages assumed October 2011 — — — 24,441 HUD mortgages assumed December 2011 (1) 2044 3.06 % 56,204 57,416 HUD mortgages assumed December 2012 — — — 35,358 236,204 237,880 Premium – net — 13,574 Total secured borrowings 236,204 251,454 Unsecured borrowings: Revolving line of credit 2018 1.72 % 230,000 85,000 Tranche A-1 term loan 2019 1.92 % 200,000 200,000 Tranche A-2 term loan 2017 1.77 % 200,000 — Omega OP term loan 2017 1.77 % 100,000 — 2015 term loan 2022 2.14 % 250,000 — 980,000 285,000 2020 notes — — — 200,000 2022 notes — — — 575,000 2024 notes 2024 5.875 % 400,000 400,000 2024 notes 2024 4.95 % 400,000 400,000 2025 notes 2025 4.50 % 250,000 250,000 2026 notes 2026 5.25 % 600,000 — 2027 notes 2027 4.50 % 700,000 — Subordinated debt 2021 9.00 % 20,000 20,000 2,370,000 1,845,000 Discount - net (17,118 ) (2,951 ) Total unsecured borrowings 3,332,882 2,127,049 Total – net $ 3,569,086 $ 2,378,503 (1) Reflects the weighted average annual contractual interest rate on the mortgages at December 31, 2015 excluding a third-party administration fee of approximately 0.5%. Secured by real estate assets with a net carrying value of $95.4 million. Secured Borrowings General Electric Term Loan On April 1, 2015, as a result of the Aviv Merger, we assumed a $180 million secured term loan with General Electric Capital Corporation (“GE”). This loan is secured by real estate assets having a net carrying value of $295.5 million at December 31, 2015. On each payment date, we pay interest only (in arrears) on any outstanding principal balance until February 1, 2017 when principal and interest will be paid in arrears based on a thirty year amortization schedule. The interest rate is based on LIBOR, with a floor of 50 basis points, plus a margin of 350 basis points. The interest rate at December 31, 2015 was 4.00%. The initial term expires in December 2019 with the full balance of the loan due at that time. HUD Mortgages Loans Payoff On December 31, 2015, we paid approximately $25.1 million to retire two mortgage loans guaranteed by the U.S. Department of Housing and Urban Development (“HUD”). The loans were assumed as part of an acquisition in a prior year, and had a blended interest rate of 5.5% per annum with maturities on March 1 and April 1, 2036. The payoff resulted in a $0.9 million gain on the extinguishment of the debt due to the write-off of the $2.1 million unamortized fair value adjustment recorded at the time of acquisition offset by a prepayment fee of approximately $1.2 million. On April 30, 2015, we paid approximately $9.1 million to retire one mortgage loan guaranteed by HUD. The loan was assumed as part of an acquisition in a prior year, and had an interest rate of 4.35% per annum with maturity on March 1, 2041. The payoff resulted in a $1.0 million gain on the extinguishment of the debt due to the write-off of the $1.5 million unamortized fair value adjustment recorded at the time of acquisition offset by a prepayment fee of approximately $0.5 million. On March 31, 2015, we paid approximately $154.3 million to retire 21 mortgage loans guaranteed by HUD, totaling approximately $146.9 million. 18 loans had an all-in blended interest rate of 5.35% per annum with maturities between January 2040 and January 2045 and three loans had an all-in blended interest rate of 5.23% per annum with maturities between February 2040 and February 2045. The payoff resulted in a $2.3 million gain on the extinguishment of the debt due to the write-off of the $9.7 million unamortized debt premium recorded at the time of acquisition offset by a prepayment fee of approximately $7.4 million. Unsecured Borrowings Unsecured Credit Facility On June 27, 2014, we entered into a credit agreement (as amended, the “2014 Credit Agreement”) providing us with $1.2 billion unsecured credit facility, comprised of a $1 billion senior unsecured revolving credit facility (the “Revolving Credit Facility”) and a $200 million senior unsecured term loan facility (the “Term Loan Facility” or “Tranche A-1 Term Loan Facility,” and, collectively, the “2014 Credit Facilities”). The 2014 Credit Facilities replaced the Company’s previous $700 million senior unsecured credit facility (the “2012 Credit Facility”). On April 1, 2015, we entered into a First Amendment to Credit Agreement (the “First Amendment to Omega Credit Agreement”) which amended the 2014 Credit Facilities. Under the First Amendment to Omega Credit Agreement, the Company (i) increased the aggregate revolving commitment amount under the Revolving Credit Facility from $1 billion to $1.25 billion and (ii) obtained a $200 million senior unsecured incremental term loan facility (the “Acquisition Term Loan Facility” or “Tranche A-2 Term Loan Facility”). Borrowings under the Revolving Credit Facility bear interest at LIBOR plus an applicable percentage (beginning at 130 basis points, with a range of 92.5 to 170 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings, plus a facility fee based on the same ratings (initially 25 basis points, with a range of 12.5 to 30 basis points). The Revolving Credit Facility is used for acquisitions and general corporate purposes. The Revolving Credit Facility matures on June 27, 2018, subject to a one-time option by us to extend such maturity date by one year. The Tranche A-1 Term Loan Facility bears interest at LIBOR plus an applicable percentage (beginning at 150 basis points, with a range of 100 to 195 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings. The Tranche A-1 Term Loan Facility matures on June 27, 2019. The Tranche A-2 Term Loan Facility bears interest at LIBOR plus an applicable percentage (beginning at 150 basis points, with a range of 100 to 195 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings. The Tranche A-2 Term Loan Facility matures on June 27, 2017, subject to Omega’s option to extend the maturity date of the Tranche A-2 Term Loan Facility twice, the first extension until June 27, 2018 and the second extension until June 27, 2019. Omega OP Term Loan Facility On April 1, 2015, Omega OP entered into a credit agreement (the “Omega OP Credit Agreement”) providing it with a $100 million senior unsecured term loan facility (the “Omega OP Term Loan Facility”). The Omega OP Term Loan Facility bears interest at LIBOR plus an applicable percentage (beginning at 150 basis points, with a range of 100 to 195 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings. The Omega OP Term Loan Facility matures on June 27, 2017, subject to Omega OP’s option to extend such maturity date twice, the first extension until June 27, 2018 and the second extension until June 27, 2019. $250 Million Term Loan Facility On December 16, 2015, we entered into a $250 million senior unsecured term loan facility (the “2015 Term Loan Facility”). The 2015 Term Loan Facility bears interest at LIBOR plus an applicable percentage (beginning at 180 basis points, with a range of 140 to 235 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings. The 2015 Term Loan Facility may be increased to an aggregate amount of $400 million. We used the proceeds from this loan to repay existing indebtedness and for general corporate purposes. The 2015 Term Loan Facility matures on December 16, 2022. As a result of exposure to interest rate movements associated with the 2015 Term Loan Facility, on December 16, 2015, we entered into various forward-starting interest rate swap arrangements, which effectively converted $250 million of our variable-rate debt based on one-month LIBOR to an aggregate fixed rate of approximately 3.8005% effective December 30, 2016. The effective fixed rate achieved by the combination of the 2015 Term Loan Facility and the interest rate swaps could vary up by 55 basis points or down by 40 basis points based on future changes to our credit ratings. Each of these swaps begins on December 30, 2016 and matures on December 15, 2022. On the date of inception, we designated the interest rate swaps as cash flow hedges in accordance with accounting guidance for derivatives and hedges and linked the interest rate swaps to the 2015 Term Loan Facility. Because the critical terms of the interest rate swaps and 2015 Term Loan Facility coincide, the hedges are expected to exactly offset changes in expected cash flows as a result of fluctuations in 1-month LIBOR over the term of the hedges. The purpose of entering into the swaps was to reduce our exposure to future changes in variable interest rates. The interest rate swaps settle on a monthly basis when interest payments are made. These settlements will occur through the maturity date of the 2015 Term Loan Facility. The interest rate for the 2015 Term Loan Facility is not hedged for the portion of the term prior to December 30, 2016. $575 Million 6.75% Senior Notes due 2022 Redemption On October 26, 2015, we redeemed all of our outstanding 6.75% Senior Notes due 2022 (the “2022 Notes”). As a result of the redemption, during the fourth quarter of 2015, we recorded approximately $21.3 million in redemption related costs and write-offs, including $19.4 million for the early redemption or call premiums and $1.9 million in net write-offs associated with unamortized deferred financing costs and original issuance premiums/discounts. $600 Million 5.25% Senior Notes due 2026 On September 23, 2015, we sold $600 million aggregate principal amount of our 5.250% Senior Notes due 2026 (the “2026 Notes”). The 2026 Notes were sold at an issue price of 99.717% of their face value before the initial purchasers’ discount. Our total net proceeds from the offering, after deducting initial purchasers’ discounts and other offering expenses, were approximately $594.4 million. The net proceeds of the offering were used to repay our outstanding $575 million aggregate principal amount 6.75% Senior Notes due 2022 and for general corporate purposes. The 2026 Notes mature on January 15, 2026 and pay interest semi-annually on January 15 th th As of December 31, 2015, our subsidiaries that are not guarantors of our 5.25% Senior Notes due 2026 accounted for approximately $598.6 million of our total assets. $700 Million 4.5% Senior Notes due 2027 On March 18, 2015, we sold $700 million aggregate principal amount of our 4.5% Senior Notes due 2027 (the “2027 Notes”). The 2027 Notes were sold at an issue price of 98.546% of their face value before the initial purchasers’ discount. Our total net proceeds from the offering, after deducting initial purchasers’ discounts and other offering expenses, were approximately $683 million. The net proceeds of the offering were used for general corporate purposes, including the repayment of Aviv indebtedness on April 1, 2015 in connection with the Aviv Merger, and repayment of future maturities on Omega’s outstanding debt. The 2027 Notes mature on April 1, 2027 and pay interest semi-annually on April 1 st st As of December 31, 2015, our subsidiaries that are not guarantors of our 4.5% Senior Notes due 2027 accounted for approximately $598.6 million of our total assets. $200 Million 7.5% Senior Notes due 2020 Redemption On March 13, 2015, Omega redeemed all of its outstanding $200 million 7.5% Senior Notes due 2020 (the “2020 Notes”) at a redemption price of approximately $208.7 million, consisting of 103.750% of the principal amount, plus accrued and unpaid interest on such notes to, but not including, the date of redemption. In connection with the redemption, we recorded approximately $11.7 million redemption related costs and write-offs, including $7.5 million in prepayment fees for early redemption and $4.2 million of write-offs associated with unamortized deferred financing costs and discount. The consideration for the redemption of the 2020 Notes was funded from the net proceeds of the 10.925 million share common stock offering. See Note 15 – Stockholders’ Equity for additional details. $250 Million 4.5% Senior Notes due 2025 On September 11, 2014, we sold $250 million aggregate principal amount of our 4.5% Senior Notes due 2025 (the “2025 Notes”). The 2025 Notes were sold at an issue price of 99.131% of their face value before the initial purchasers’ discount resulting in gross proceeds of approximately $247.8 million. The 2025 Notes mature on January 15, 2025 and pay interest semi-annually on January 15 and July 15 of each year. As of December 31, 2015, our subsidiaries that are not guarantors of the 2025 Notes accounted for approximately $598.6 million of our total assets. $400 Million 4.95% Senior Notes due 2024 On March 11, 2014, we sold $400 million aggregate principal amount of our 4.95% Senior Notes due 2024 (the “2024 Notes”). These notes were sold at an issue price of 98.58% of the principal amount of the notes, before the initial purchasers’ discount resulting in gross proceeds of approximately $394.3 million. The 2024 Notes mature on April 1, 2024 and pay interest semi-annually on April 1 and October 1 of each year. As of December 31, 2015, our subsidiaries that are not guarantors of the 2024 Notes accounted for approximately $598.6 million of our total assets. $400 Million 5.875% Senior Notes due 2024 On March 19, 2012, we issued $400 million aggregate principal amount of our 5.875% Senior Notes due 2024. These notes mature on March 15, 2024 and pay interest semi-annually on March 15 and September 15 of each year. As of December 31, 2015, our subsidiaries that are not guarantors of the $400 million 5.875% Senior Notes due 2024 accounted for approximately $598.6 million of our total assets. Other Debt Repayments In connection with the Aviv Merger on April 1, 2015, we assumed notes payable with a face amount of $650 million and a revolving credit facility with an outstanding balance of $525 million. In connection with the Aviv Merger, we repaid this debt assumed from Aviv on April 1, 2015. Due to the contractual requirements for early repayments; the Company paid approximately $705.6 million to retire the $650 million notes assumed. The amount repaid in connection with the revolving credit facility was $525 million. General Certain of our other secured and unsecured borrowings are subject to customary affirmative and negative covenants, including financial covenants. As of December 31, 2015 and 2014, we were in compliance with all affirmative and negative covenants, including financial covenants, for our secured and unsecured borrowings. The required principal payments, excluding the premium or discount on our secured and unsecured borrowings, for each of the five years following December 31, 2015 and the aggregate due thereafter are set forth below: (in thousands) 2016 $ 1,249 2017 301,288 2018 231,328 2019 381,370 2020 1,412 Thereafter 2,669,557 Totals $ 3,586,204 The following summarizes the refinancing related costs: Year Ended December 31, 2015 2014 2013 (in thousands) Write off of deferred financing cost and unamortized premiums due to refinancing (1) (2)(3) $ (7,134 ) $ 1,180 $ (11,278 ) Prepayment and other costs associated with refinancing (4) 35,971 1,861 166 Total debt extinguishment costs (gain) $ 28,837 $ 3,041 $ (11,112 ) (1) In 2015, we recorded: (a) $4.2 million of write-offs of unamortized deferred financing costs and discount associated with the early redemption of our 2020 Notes, (b) $1.9 million in net write-offs associated with unamortized deferred financing costs and original issuance premiums/discounts associated with the early redemption of our 2022 Notes, offset by (c) $13.2 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in March, April and December 2015. (2) In 2014, we recorded: (a) $2.6 million write-off of deferred financing costs associated with the termination of the 2012 Credit Facilities, (b) $2.0 million write-off of deferred financing costs associated with the termination of our 2013 Term Loan Facility offset by (c) $3.5 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in September and December 2014. (3) In 2013, we recorded an $11.3 million interest refinancing gain associated with the write-off of the unamortized premium for debt assumed on 11 HUD mortgage loans that we paid off in May 2013. (4) In 2015, we made: (a) $7.5 million of prepayment penalties associated with the early redemption of our 2020 Notes, (b) $19.4 million of prepayment penalties associated with the early redemption of our 2022 Notes and (c) $9.1 million of prepayment penalties associated with 24 HUD mortgage loans that we paid off in March, April and December 2015. In 2014, we made prepayment penalties of $1.9 million associated with five HUD mortgage loans that we paid off in September and October 2014. In 2013, we made prepayment penalties of $0.2 million associated with 11 HUD mortgage loans that we paid off in May 2013.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS	NOTE 12 - FINANCIAL INSTRUMENTS At December 31, 2015 and 2014, the carrying amounts and fair values of our financial instruments were as follows: 2015 2014 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Assets: Cash and cash equivalents $ 5,424 $ 5,424 $ 4,489 $ 4,489 Restricted cash 14,607 14,607 29,076 29,076 Investments in direct financing leases – net 587,701 584,358 539,232 539,232 Mortgage notes receivable – net 679,795 687,130 648,079 642,626 Other investments – net 89,299 90,745 48,952 49,513 Totals $ 1,376,826 $ 1,382,264 $ 1,269,828 $ 1,264,936 Liabilities: Revolving line of credit $ 230,000 $ 230,000 $ 85,000 $ 85,000 Tranche A-1 term loan 200,000 200,000 200,000 200,000 Tranche A-2 term loan 200,000 200,000 — — Omega OP term loan 100,000 100,000 — — 2015 term loan 250,000 250,000 — — 7.50% notes due 2020 – net — — 198,235 264,269 6.75% notes due 2022 – net — — 580,410 677,851 5.875% notes due 2024 – net 400,000 429,956 400,000 449,242 4.95% notes due 2024 – net 395,333 403,064 394,768 410,358 4.50% notes due 2025 – net 248,099 242,532 247,889 244,053 5.25% notes due 2026 – net 598,343 612,760 — — 4.50% notes due 2027 – net 690,494 667,651 — — GE term loan due 2019 180,000 180,000 — — HUD debt – net 56,204 52,678 251,454 266,434 Subordinated debt – net 20,613 24,366 20,747 26,434 Totals $ 3,569,086 $ 3,593,007 $ 2,378,503 $ 2,623,641 Fair value estimates are subjective in nature and are dependent on a number of important assumptions, including estimates of future cash flows, risks, discount rates and relevant comparable market information associated with each financial instrument (see Note 2 – Summary of Significant Accounting Policies). The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. The following methods and assumptions were used in estimating fair value disclosures for financial instruments. · Cash and cash equivalents and restricted cash: The carrying amount of cash and cash equivalents and restricted cash reported in the Consolidated Balance Sheets approximates fair value because of the short maturity of these instruments (i.e., less than 90 days) (Level 1). · Direct financing leases: The fair value of the investments in direct financing leases are estimated using a discounted cash flow analysis, using interest rates being offered for similar leases to borrowers with similar credit ratings (Level 3). · Mortgage notes receivable: The fair value of the mortgage notes receivables are estimated using a discounted cash flow analysis, using interest rates being offered for similar loans to borrowers with similar credit ratings (Level 3). · Other investments: Other investments are primarily comprised of notes receivable. The fair values of notes receivable are estimated using a discounted cash flow analysis, using interest rates being offered for similar loans to borrowers with similar credit ratings (Level 3). · Revolving line of credit and term loans: The fair value of our borrowings under variable rate agreements are estimated using an expected present value technique based on expected cash flows discounted using the current market rates (Level 3). · Senior notes and subordinated debt: The fair value of our borrowings under fixed rate agreements are estimated using an expected present value technique based on open market trading activity provided by a third party (Level 2). · HUD debt: The fair value of our borrowings under HUD debt agreements are estimated using an expected present value technique based on quotes obtained by HUD debt brokers (Level 2).

TAXES

TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
TAXES	NOTE 13 – TAXES We were organized, have operated, and intend to continue to operate in a manner that enables us to qualify for taxation as REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”). On a quarterly and annual basis we perform several analyses to test our compliance within the REIT taxation rules. In order to qualify as a REIT, in addition to other requirements, we must: (i) distribute dividends (other than capital gain dividends) to our stockholders in an amount at least equal to (A) the sum of (a) 90% of our “REIT taxable income” (computed without regard to the dividends paid deduction and our net capital gain), and (b) 90% of the net income (after tax), if any, from foreclosure property, minus (B) the sum of certain items of non-cash income on an annual basis, (ii) ensure that at least 75% and 95%, respectively of our gross income is generated from qualifying sources that are described in the REIT tax law, (iii) ensure that at least 75% of our assets consist of qualifying assets, such as real property, mortgages, and other qualifying assets described in the REIT tax law, (iv) ensure that we do not own greater than 10% in voting power or value of securities of any one issuer, (v) ensure that we do not own either debt or equity securities of another company that are in excess of 5% of our total assets and (vi) ensure that no more than 25% of our assets are invested in one or more taxable REIT subsidiaries (and with respect to taxable years beginning after December 31, 2017, no more than 20%). In addition to the above requirements, the REIT rules require that no less than 100 stockholders own shares or an interest in the REIT and that five or fewer individuals do not own (directly or indirectly) more than 50% of the shares or proportionate interest in the REIT. If we fail to meet the above or any other requirements for qualification as a REIT in any tax year, we will be subject to federal income tax on our taxable income at regular corporate rates and may not be able to qualify as a REIT for the four subsequent years, unless we qualify for certain relief provisions that are available in the event we fail to satisfy any of these requirements. We are also subject to federal taxation of 100% of the derived net income if we sell or dispose of property, other than foreclosure property, that we held primarily for sale to customers in the ordinary course of a trade or business. We believe that we do not hold assets for sale to customers in the ordinary course of business and that none of the assets currently held for sale or that have been sold would be considered a prohibited transaction within the REIT taxation rules. So long as we qualify as a REIT under the Code, we generally will not be subject to federal income taxes on the REIT taxable income that we distribute to stockholders, subject to certain exceptions. In 2015 and 2014, we distributed dividends in excess of our taxable income. Since the year 2000, the definition of foreclosure property has included any “qualified health care property,” as defined in Code Section 856(e)(6) acquired by us as the result of the termination or expiration of a lease of such property. We have from time to time operated qualified healthcare facilities acquired in this manner for up to two years (or longer if an extension was granted). Properties that we had taken back in a foreclosure or bankruptcy and operated for our own account were treated as foreclosure properties for income tax purposes, pursuant to Code Section 856(e). Gross income from foreclosure properties was classified as “good income” for purposes of the annual REIT income tests upon making the election on the tax return. Once made, the income was classified as “good” for a period of three years, or until the properties were no longer operated for our own account. In all cases of foreclosure property, we utilized an independent contractor to conduct day-to-day operations to maintain REIT status. In certain cases, we operated these facilities through a taxable REIT subsidiary. For those properties operated through the taxable REIT subsidiary, we formed a new entity (TC Healthcare) on our behalf through the use of an eligible independent contractor to conduct day-to-day operations to maintain REIT status. As a result of the foregoing, we do not believe that our participation in the operation of nursing homes increased the risk that we would fail to qualify as a REIT. Through our 2015 taxable year, we had not paid any tax on our foreclosure property because those properties had been producing losses. As a result of our UPREIT Conversion, our Company and its subsidiaries may be subject to income or franchise taxes in certain states and municipalities. Also, as a result of our UPREIT Conversion, we created five subsidiary REITs that are subject to all of the REIT qualification rules set forth in the Code. In December 2015, we consolidated the five subsidiary REITs into one subsidiary REIT. Subject to the limitation under the REIT asset test rules, we are permitted to own up to 100% of the stock of one or more taxable REIT subsidiaries (“TRSs”). We have elected for two of our active subsidiaries to be treated as TRSs. One of our TRSs is subject to federal, state and local income taxes at the applicable corporate rates and the other is subject to foreign income taxes. As of December 31, 2015, our TRS that is subject to federal, state and local income taxes at the applicable corporate rates had a net operating loss carry-forward of approximately $0.9 million. The loss carry-forward is fully reserved as of December 31, 2015 with a valuation allowance due to uncertainties regarding realization. In connection with our acquisition of Care Homes in May 2015, we acquired 10 legal entities consisting of 23 facilities. The tax basis in these legal entities acquired for United Kingdom taxes was approximately $82 million less than the purchase price. We recorded an initial deferred tax liability associated with the temporary tax basis difference of approximately $15 million. During the year ended December 31, 2015, we recorded approximately $1.0 million of state and local income tax provision and approximately $0.2 million of provision for foreign income taxes.

RETIREMENT ARRANGEMENTS

RETIREMENT ARRANGEMENTS	12 Months Ended
	Dec. 31, 2015
Compensation Related Costs [Abstract]
RETIREMENT ARRANGEMENTS	NOTE 14 - RETIREMENT ARRANGEMENTS Our Company has a 401(k) Profit Sharing Plan covering all eligible employees. Under this plan, employees are eligible to make contributions, and we, at our discretion, may match contributions and make a profit sharing contribution. Amounts charged to operations with respect to these retirement arrangements totaled approximately $0.4 million, $0.3 million, $0.2 million in 2015, 2014 and 2013, respectively. In addition, we have a deferred stock compensation plan that allows employees and directors the ability to defer the receipt of stock awards. The deferred stock awards (units) participate in future dividends as well as the change in the value of the Company’s common stock. As of December 31, 2015 and 2014, the Company had 400,814 and 398,373 deferred stock units outstanding.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 15 – STOCKHOLDERS’ EQUITY $500 Million Equity Shelf Program On September 3, 2015, we entered into separate Equity Distribution Agreements (collectively, the “Equity Shelf Agreements”) to sell shares of our common stock having an aggregate gross sales price of up to $500 million (the “2015 Equity Shelf Program”) with several financial institutions, each as a sales agent and or principal (collectively, the “Managers”). Under the terms of the Equity Shelf Agreements, we may sell shares of our common stock, from time to time, through or to the Managers having an aggregate gross sales price of up to $500 million. Sales of the shares, if any, will be made by means of ordinary brokers’ transactions on the New York Stock Exchange at market prices, or as otherwise agreed with the applicable Manager. We will pay each Manager compensation for sales of the shares equal to 2% of the gross sales price per share of shares sold through such Manager under the applicable Equity Shelf Agreements. As of December 31, 2015, we did not issue any shares under the 2015 Equity Shelf Program. $250 Million Equity Shelf Program Termination Also on September 3, 2015, we terminated our $250 million Equity Shelf Program (the “2013 Equity Shelf Program”) that we entered into with several financial institutions on March 18, 2013. In 2015, we did not issue any shares under the 2013 Equity Shelf Program. For the year ended December 31, 2014, we issued approximately 1.8 million shares under the 2013 Equity Shelf Program, at an average price of $34.33 per share, generating gross proceeds of approximately $63.5 million, before $1.5 million of commissions and expenses. Since inception of the 2013 Equity Shelf Program, we sold a total of 7.4 million shares of common stock generating total gross proceeds of $233.8 million under the program, before $4.7 million of commissions. As a result of the termination of the 2013 Equity Shelf Program, no additional shares will be issued under the 2013 Equity Shelf Program. $245 Million Equity Shelf Program Termination Also on March 18, 2013, we terminated our previous $245 million Equity Shelf Program (the “2012 Equity Shelf Program”) that we entered into with several financial institutions on June 19, 2012. For the year ended December 31, 2013, we issued approximately 1.0 million shares under the 2012 Equity Shelf Program at an average price of $28.29 per share, generating gross proceeds of approximately $27.8 million, before $0.6 million of commissions. Increase of Authorized Omega Common Stock On March 27, 2015, we amended our charter to increase the number of authorized shares of Omega capital stock from 220 million to 370 million and the number of authorized shares of Omega common stock from 200 million to 350 million. 10.925 Million Common Stock Offering On February 9, 2015, we completed an underwritten public offering of 10.925 million shares of our common stock at $42.00 per share before underwriting and other offering expenses. The Company’s total net proceeds from the offering were approximately $440 million, after deducting underwriting discounts and commissions and other estimated offering expenses. 2.875 Million Common Stock Offering On October 7, 2013, we sold 2.875 million shares of common stock in an underwritten public offering at a price of $29.48 per share, after underwriting discounts but before expenses. Our total net proceeds from the offering, after underwriting discounts and expenses were approximately $84.6 million. Dividend Reinvestment and Common Stock Purchase Plan We have a Dividend Reinvestment and Common Stock Purchase Plan (the “DRSPP”) that allows for the reinvestment of dividends and the optional purchase of our common stock. For the year ended December 31, 2015, we issued 4.2 million shares of common stock for gross proceeds of approximately $150.8 million. For the year ended December 31, 2014, we issued 2.1 million shares of common stock for gross proceeds of approximately $71.5 million. For the year ended December 31, 2013, we issued 1.9 million shares of common stock for gross proceeds of approximately $55.8 million.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
STOCK-BASED COMPENSATION	NOTE 16 – STOCK-BASED COMPENSATION Restricted Stock and Restricted Stock Units Restricted stock and restricted stock units (“RSUs”) are subject to forfeiture if the holder’s service to us terminates prior to vesting, subject to certain exceptions for certain qualifying terminations of employment or a change in control of the Company. Prior to vesting, ownership of the shares/units cannot be transferred. The restricted stock has the same dividend and voting rights as our common stock. RSUs accrue dividend equivalents but have no voting rights. Restricted stock and RSUs are valued at the price of our common stock on the date of grant. We expense the cost of these awards ratably over their vesting period. The RSUs assumed from Aviv as part of the Aviv Merger were valued at the closing price of our stock on the date of the transaction. The portion of the vesting accruing prior to the acquisition was recorded as part of the purchase price consideration. The expense associated with the vesting that will occur after the date of the transaction will be recorded as stock compensation expense ratably over the remaining life of the RSUs. The following table summarizes the activity in restricted stock and RSUs for the years ended December 31, 2013, 2014 and 2015: Number of Shares/Units Weighted - Average Grant- Date Fair Value per Share Compensation Cost (1) (in millions) Non-vested at December 31, 2012 459,502 $ 22.33 Granted during 2013 241,699 29.87 $ 7.2 Vested during 2013 (444,003 ) 22.38 Non-vested at December 31, 2013 257,198 $ 29.32 Granted during 2014 143,637 30.70 $ 4.4 Vested during 2014 (90,901 ) 28.87 Non-vested at December 31, 2014 309,934 $ 30.08 Granted during 2015 232,533 39.25 $ 9.1 Assumed in Aviv Merger (2) 38,268 23.50 $ 0.9 Cancelled during 2015 (61,911 ) 33.77 Vested during 2015 (106,146 ) 28.72 Non-vested at December 31, 2015 412,678 $ 34.44 (1) Total compensation cost to be recognized on the awards based on grant date fair value, which is based on the market price of the Company’s common stock on the date of grant. (2) Omega stock price on April 1, 2015 was $40.74. The weighted average stock price indicated in the table above represents the expense per unit that we will record related to the assumed Aviv RSUs. Performance Restricted Stock Units Performance restricted stock units (“PRSUs”) and long term incentive plan units (“LTIP Units”) are subject to forfeiture if the performance requirements are not achieved or if the holder’s service to us terminates prior to vesting, subject to certain exceptions for certain qualifying terminations of employment or a change in control of the Company. The PRSUs awarded in January 2011, January 2013, December 2013, January 2014, March 2015, April 2015 and July 2015 and the LTIP Units awarded in March 2015, April 2015 and July 2015 have varying degrees of performance requirements to achieve vesting, and each PRSU and LTIP Units award represents the right to a variable number of shares of common stock or partnership units (each LTIP Unit once earned is convertible into one Omega OP Unit in Omega OP, subject to certain conditions). The vesting requirements are based on either the (i) total shareholders return (“TSR”) of Omega or (ii) Omega’s TSR relative to other real estate investment trusts in the MSCI U.S. REIT Index (“Relative TSR”). We expense the cost of these awards ratably over their service period. Prior to vesting and the distribution of shares, ownership of the PRSUs cannot be transferred. The dividends on the PRSUs accumulate and if vested are paid when the shares are distributed to the employee. While each LTIP Unit is unearned, the employee receives a partnership distribution equal to 10% of the quarterly approved regular periodic distributions per Omega OP Unit. The remaining partnership distributions (which in the case of normal periodic distributions is equal to the total approved quarterly dividend on Omega’s common stock) on the LTIP Units accumulate, and if the LTIP Units are earned, the accumulated distributions are paid. We used a Monte Carlo model to estimate the fair value for the PRSUs and LTIP Units granted to the employees. The following are the significant assumptions used in estimating the value of the awards for grants made on the following dates: January 1, 2012 January 1, 2013 December 31, 2013 and January 1, 2014 March 31, 2015 April 1, 2015 July 31, 2015 Closing price on date of grant $ 19.35 $ 23.85 $ 29.80 $ 40.57 $ 40.74 $ 36.26 Dividend yield 8.27% 4.24% 6.44% 5.23% 5.20% 6.07% Risk free interest rate at time of grant 0.03% to 0.35% 0.05% to 0.43% 0.04% to 0.86% 0.10% to 0.94% 0.09% to 0.91% 0.13% to 1.08% Expected volatility 35.64% to 38.53% 15.56% to 23.83% 24.16% to 25.86% 20.06% to 21.09% 20.06% to 21.08% 20.06% to 20.21% The following table summarizes the activity in PRSUs for the years ended December 31, 2013, 2014 and 2015: Number of Weighted- Average Grant- Date Fair Value per Share Compensation Cost (1) (in millions) Non-vested at December 31, 2012 372,735 $ 11.36 Granted during 2013 665,289 10.36 $ 6.9 Vested during 2013 (2) - - Non-vested at December 31, 2013 1,038,024 $ 10.72 Granted during 2014 309,168 11.46 $ 3.5 Vested during 2014 (2) (496,979 ) 10.75 Non-vested at December 31, 2014 850,213 $ 10.97 Granted during 2015 537,923 18.51 $ 10.0 Cancelled during 2015 (165,570 ) 14.11 Forfeited during 2015 (128,073 ) 12.04 Vested during 2015 (2) (181,406 ) 10.10 Non-vested at December 31, 2015 913,087 $ 14.87 (1) Total compensation cost to be recognized on the awards was based on the grant date fair value or the modification date fair value. (2) PRSUs are shown as vesting in the year that the Compensation Committee determines the level of achievement of the applicable performance measures. The following table summarizes our total unrecognized compensation cost as of December 31, 2015 associated with restricted stock, restricted stock units, PRSU awards, and LTIP Unit awards to employees: Grant Shares/ Units Grant Date Total Compensation Cost (in millions) (1) Weighted Unrecognized Performance Vesting RSUs 2013 RSU 2013 195,822 $ 29.80 $ 5.8 36 $ 1.9 N/A 12/31/14 - 12/31/16 2014 RSU 2014 106,778 29.80 3.2 36 1.1 N/A 12/31/2016 3/31/15 RSU 2015 109,585 40.57 4.4 33 3.2 N/A 12/31/2017 4/1/15 RSU 2015 39,914 40.74 1.6 33 1.2 N/A 12/31/2017 Assumed Aviv RSU 2015 10,644 12.36 0.1 9 - N/A 12/31/2015 Assumed Aviv RSU 2015 19,825 24.92 0.5 21 0.3 N/A 12/31/2016 Assumed Aviv RSU 2015 7,799 35.08 0.3 33 0.2 N/A 12/31/15-12/31/17 7/31/15 RSU 2015 23,902 36.26 0.9 5 - N/A 12/31/2015 Restricted Stock Units Total 514,269 $ 32.78 $ 16.8 $ 7.9 TSR PRSUs and LTIP Units 2015 Transition TSR (2) 2013 67,885 7.47 0.5 24 - 12/31/2013-12/31/2015 12/31/2015 2016 Transition TSR 2013 101,591 8.67 0.9 36 0.3 12/31/2013-12/31/2016 12/31/2016 2016 TSR 2014 135,634 8.67 1.2 48 0.6 1/1/2014-12/31/2016 Quarterly in 2017 3/31/15 2017 LTIP Units 2015 137,249 14.66 2.0 45 1.6 1/1/2015-12/31/2017 Quarterly in 2018 4/1/2015 2017 LTIP Units 2015 54,151 14.80 0.8 45 0.6 1/1/2015-12/31/2017 Quarterly in 2018 7/31/15 2015 Transition TSR (3) 2015 9,484 27.20 0.3 5 - 12/31/2013-12/31/2015 12/31/2015 7/31/15 2016 Transition TSR 2015 22,091 18.51 0.4 5 - 12/31/2013-12/31/2016 12/31/2016 7/31/15 2017 LTIP Units 2015 5,823 8.78 0.1 5 - 1/1/2015-12/31/2017 12/31/2017 TSR PRSUs & LTIP Total 533,908 $ 11.42 $ 6.2 $ 3.1 Relative TSR PRSUs 2015 Transition Relative TSR (4) 2013 67,884 13.05 0.9 24 - 12/31/2013-12/31/2015 12/31/2015 2016 Transition Relative TSR 2013 101,588 14.24 1.4 36 0.5 12/31/2013-12/31/2016 12/31/2016 2016 Relative TSR 2014 135,634 14.24 1.9 48 1.0 1/1/2014-12/31/2016 Quarterly in 2017 3/31/15 2017 Relative TSR 2015 137,249 22.50 3.1 45 2.5 1/1/2015-12/31/2017 Quarterly in 2018 4/1/2015 2017 Relative TSR 2015 54,151 22.91 1.2 45 1.0 1/1/2015-12/31/2017 Quarterly in 2018 7/31/15 2015 Relative TSR (5) 2015 9,484 18.85 0.2 5 - 1/1/2014-12/31/2015 12/31/2015 7/31/15 2016 Relative TSR 2015 22,100 19.60 0.4 5 - 1/1/2014-12/31/2016 12/31/2016 7/31/15 2017 Relative TSR 2015 5,826 17.74 0.1 5 - 1/1/2015-12/31/2017 12/31/2017 Relative TSR PRSUs Total 533,916 $ 17.44 $ 9.2 $ 5.0 Grand Total 1,582,093 $ 20.39 $ 32.2 $ 16.0 (1) Total compensation costs are net of shares cancelled. (2) The shares/unit information includes 30,872 shares/units that were determined to be forfeited because the performance goal was not achieved. (3) The shares/unit information includes 4,231 shares/units that were determined to be forfeited because the performance goal was not achieved. (4) The shares/unit information includes 67,884 shares/units that were determined to be forfeited because the performance goal was not achieved. (5) The shares/unit information includes 9,484 shares/units that were determined to be forfeited because the performance goal was not achieved. Stock Options and Tax Withholding As part of the Aviv Merger, we assumed approximately 5.7 million Aviv employee stock options that were fully vested prior to the merger. On April 1, 2015, the Aviv stock options were converted into Omega stock options at an exchange ratio of 0.9 resulting in issuance of approximately 5.1 million Omega stock options. The intrinsic value of the stock option assumed on April 1, 2015 was approximately $99.2 million and was recorded as part of the consideration provided in the merger. For the year ended December 31, 2015, approximately 2.6 million options have been exercised at a weighted average rate of $19.38 per share. At December 31, 2015, approximately 2.5 million options remain outstanding and exercisable. Options outstanding have a weighted average exercise price of $19.38. The aggregate intrinsic value of these options is $39.2 million and represents the total pre-tax intrinsic value (based upon the difference between the Company's closing stock price on the last trading day of 2015 of $34.98 and the exercise price) for all in-the-money options as of December 31, 2015. Options outstanding have no contractual term limitations. Stock withheld to pay minimum statutory tax withholdings for equity instruments granted under stock-based payment arrangements for the years ended December 31, 2015, 2014 and 2013, was $26.7 million, $3.6 million and $5.8 million, respectively. Shares Available for Issuance for Compensation Purposes On June 6, 2013, at our Company’s Annual Meeting, our stockholders approved the 2013 Stock Incentive Plan (the “2013 Plan”), which amended and restated the Company’s 2004 Stock Incentive Plan. The 2013 Plan is a comprehensive incentive compensation plan that allows for various types of equity-based compensation, including restricted stock units (including performance-based restricted stock units and LTIP units), stock awards, deferred restricted stock units, incentive stock options, non-qualified stock options, stock appreciation rights, dividend equivalent rights and certain cash-based awards (including performance-based cash awards). The 2013 Plan increased the number of shares reserved for issuance for compensation purposes by 3,000,000. As of December 31, 2015, 2,139,785 shares of common stock were reserved for issuance to our employees, directors and consultants under our stock incentive plans. Awards under our stock incentive plans may be in the form of stock, stock options, restricted stock, and performance restricted stock units. Director Restricted Stock Grants In 2013, 2014 and 2015, we issued 27,958, 21,500 and 30,500 shares of restricted stock to members of our Board of Directors. The fair value of these awards was approximately $0.8 million, $0.8 million and $1.1 million, respectively, for 2013, 2014 and 2015.

DIVIDENDS

DIVIDENDS	12 Months Ended
	Dec. 31, 2015
Dividends [Abstract]
DIVIDENDS	NOTE 17 - DIVIDENDS Common Dividends On January 14, 2016, the Board of Directors declared a common stock dividend of $0.57 per share, increasing the quarterly common dividend by $0.01 per share over the prior quarter, which was paid February 16, 2016 to common stockholders of record on February 2, 2016. On October 14, 2015, the Board of Directors declared a common stock dividend of $0.56 per share, increasing the quarterly common dividend by $0.01 per share over the previous quarter. The common dividends were paid November 16, 2015 to common stockholders of record on November 2, 2015. On July 15, 2015, the Board of Directors declared a common stock dividend of $0.55 per share, increasing the quarterly common dividend rate by $0.01 per share over the prior quarter, which was paid on August 17, 2015 to common stockholders of record on July 31, 2015. On April 15, 2015, the Board of Directors declared a prorated dividend of $0.18 per share of Omega’s common stock in view of the recently closed Aviv Merger. The per share dividend amount payable by Omega represents dividends for April 2015, at a quarterly dividend rate of $0.54 per share of common stock, increasing the quarterly common dividend rate by $0.01 per share over the prior quarter. The $0.18 dividend was paid in cash on May 15, 2015 to stockholders of record as of the close of business on April 30, 2015. On March 5, 2015, the Board of Directors declared a prorated dividend of $0.36 per share of Omega’s common stock in view of the pending acquisition of Aviv, pursuant to the Aviv Merger. The per share dividend amount represented dividends for February and March 2015, at a quarterly dividend rate of $0.54 per share of common stock, increasing the quarterly common dividend rate by $0.01 per share over the prior quarter. The dividend was paid in cash on April 7, 2015 to stockholders of record as of the close of business on March 31, 2015. On January 14, 2015, the Board of Directors declared a common stock dividend of $0.53 per share, increasing the quarterly common dividend rate by $0.01 per share over the prior quarter, which was paid February 16, 2015 to common stockholders of record on February 2, 2015. Per Share Distributions Per share distributions by our Company were characterized in the following manner for income tax purposes (unaudited): Year Ended December 31, 2015 2014 2013 Common Ordinary income $ 1.133 $ 1.834 $ 1.536 Return of capital 1.047 0.186 0.324 Total dividends paid $ 2.180 $ 2.020 $ 1.860 For additional information regarding dividends, see Note 13 – Taxes.

LITIGATION

LITIGATION	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	NOTE 18 - LITIGATION We are subject to various legal proceedings, claims and other actions arising out of the normal course of business. While any legal proceeding or claim has an element of uncertainty, management believes that the outcome of each lawsuit, claim or legal proceeding that is pending or threatened, or all of them combined, will not have a material adverse effect on our consolidated financial position or results of operations.

SUMMARY OF QUARTERLY RESULTS (U

SUMMARY OF QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
SUMMARY OF QUARTERLY RESULTS (UNAUDITED)	NOTE 19 - SUMMARY OF QUARTERLY RESULTS (UNAUDITED) The following summarizes quarterly results of operations for the years ended December 31, 2015 and 2014. March 31 June 30 September 30 December 31 (in thousands, except per share amounts) 2015 Revenues $ 133,420 $ 197,711 $ 201,974 $ 210,512 Net income 43,052 43,466 83,254 63,543 Net income available to common stockholders 43,052 41,428 79,402 60,642 Net income available to common per share: Basic $ 0.32 $ 0.23 $ 0.43 $ 0.32 Net income per share: Diluted $ 0.32 $ 0.22 $ 0.43 $ 0.32 Cash dividends paid on common stock $ 0.53 $ 0.54 $ 0.55 $ 0.56 2014 Revenues $ 121,001 $ 121,800 $ 130,665 $ 131,321 Net income 55,829 46,817 61,713 56,990 Net income available to common stockholders 55,829 46,817 61,713 56,990 Net income available to common per share: Basic $ 0.45 $ 0.37 $ 0.48 $ 0.45 Net income per share: Diluted $ 0.45 $ 0.37 $ 0.48 $ 0.44 Cash dividends paid on common stock $ 0.49 $ 0.50 $ 0.51 $ 0.52

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 20 - EARNINGS PER SHARE The following tables set forth the computation of basic and diluted earnings per share: Year Ended December 31, 2015 2014 2013 (in thousands, except per share amounts) Numerator: Net income $ 233,315 $ 221,349 $ 172,521 Less: Net income attributable to noncontrolling interests (8,791 ) — — Net income available to common stockholders $ 224,524 $ 221,349 $ 172,521 Denominator: Denominator for basic earnings per share 172,242 126,550 117,257 Effect of dilutive securities: Common stock equivalents 1,539 744 843 Noncontrolling interest – OP units 6,727 — — Denominator for diluted earnings per share 180,508 127,294 118,100 Earnings per share - basic: Net income available to common stockholders $ 1.30 $ 1.75 $ 1.47 Earnings per share - diluted: Net income $ 1.29 $ 1.74 $ 1.46

CONSOLIDATING FINANCIAL STATEME

CONSOLIDATING FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
CONSOLIDATING FINANCIAL STATEMENTS	NOTE 21– CONSOLIDATING FINANCIAL STATEMENTS As of December 31, 2015, we had outstanding: (i) $400 million 5.875% Senior Notes due 2024, (ii) $400 million 4.95% Senior Notes due 2024, (iii) $250 million 4.5% Senior Notes due 2025, (iv) $600 million 5.25% Senior Notes due 2026 and (v) $700 million 4.5% Senior Notes due 2027 (collectively, the “Senior Notes”). The Senior Notes are fully and unconditionally guaranteed, jointly and severally, by each of our 100% owned subsidiaries that guarantee other indebtedness of Omega or any of the subsidiary guarantors. All of our subsidiaries that guarantee the Senior Notes also guarantee amounts outstanding under the 2014 Credit Facilities. The following summarized condensed consolidating financial information segregates the financial information of the non-guarantor subsidiaries from the financial information of Omega Healthcare Investors, Inc. and the subsidiary guarantors under the Senior Notes. Our non-guarantor subsidiaries include all subsidiaries securing secured debt that is currently outstanding and our U.K. subsidiaries. The results and financial position of acquired entities are included from the dates of their respective acquisitions. The 2013 and 2014 financial statements presented below have been adjusted to reflect our current guarantor and non-guarantor relationships as of December 31, 2015. OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING BALANCE SHEET (in thousands, except per share amounts) December 31, 2015 Issuer & Non – Elimination Consolidated ASSETS Real estate properties Land and buildings $ 6,152,779 $ 591,179 $ — $ 6,743,958 Less accumulated depreciation (984,947 ) (34,203 ) — (1,019,150 ) Real estate properties – net 5,167,832 556,976 — 5,724,808 Investment in direct financing leases 587,701 — — 587,701 Mortgage notes receivable – net 679,795 — — 679,795 6,435,328 556,976 — 6,992,304 Other investments – net 89,299 — — 89,299 6,524,627 556,976 — 7,081,603 Assets held for sale – net 6,599 — — 6,599 Total investments 6,531,226 556,976 — 7,088,202 Cash and cash equivalents 1,592 3,832 — 5,424 Restricted cash 7,068 7,539 — 14,607 Accounts receivable – net 196,107 7,755 — 203,862 Goodwill 630,404 15,279 — 645,683 Investment in affiliates 340,850 — (340,850 ) — Other assets 54,055 7,176 — 61,231 Total assets $ 7,761,302 $ 598,557 $ (340,850 ) $ 8,019,009 LIABILITIES AND EQUITY Revolving line of credit $ 230,000 $ — $ — $ 230,000 Term loan 750,000 — — 750,000 Secured borrowings — 361,460 (125,256 ) 236,204 Unsecured borrowings – net 2,352,882 — — 2,352,882 Accrued expenses and other liabilities 326,815 6,891 — 333,706 Deferred income taxes — 15,352 — 15,352 Intercompany payable 740 36,299 (37,039 ) — Total liabilities 3,660,437 420,002 (162,295 ) 3,918,144 Stockholders’ equity: Common stock 18,740 — — 18,740 Equity investment in affiliates — 156,507 (156,507 ) — Common stock – additional paid-in capital 4,609,474 — — 4,609,474 Cumulative net earnings 1,372,522 21,971 (21,971 ) 1,372,522 Cumulative dividends paid (2,254,038 ) — — (2,254,038 ) Accumulated other comprehensive income (loss) (8,712 ) 77 (77 ) (8,712 ) Total stockholders’ equity 3,737,986 178,555 (178,555 ) 3,737,986 Noncontrolling interest 362,879 — — 362,879 Total equity 4,100,865 178,555 (178,555 ) 4,100,865 Total liabilities and equity $ 7,761,302 $ 598,557 $ (340,850 ) $ 8,019,009 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING BALANCE SHEET (in thousands, except per share amounts) December 31, 2014 Issuer & Non – Elimination Consolidated ASSETS Real estate properties Land and buildings $ 3,108,597 $ 115,188 $ — $ 3,223,785 Less accumulated depreciation (805,679 ) (16,033 ) — (821,712 ) Real estate properties – net 2,302,918 99,155 — 2,402,073 Investments in direct financing leases 539,232 — — 539,232 Mortgage notes receivable 648,079 — — 648,079 3,490,229 99,155 — 3,589,384 Other investments 48,952 — — 48,952 3,539,181 99,155 — 3,638,336 Assets held for sale – net 12,792 — — 12,792 Total investments 3,551,973 99,155 — 3,651,128 Cash and cash equivalents 4,489 — — 4,489 Restricted cash 21,943 7,133 — 29,076 Accounts receivable – net 163,610 4,566 — 168,176 Investment in affiliates 28,687 — (28,687 ) — Other assets 60,820 7,956 — 68,776 Total assets $ 3,831,522 $ 118,810 $ (28,687 ) $ 3,921,645 LIABILITIES AND EQUITY Revolving line of credit $ 85,000 $ — $ — $ 85,000 Term loan 200,000 — — 200,000 Secured borrowings – net 167,379 84,075 — 251,454 Unsecured borrowings – net 1,842,049 — — 1,842,049 Accrued expenses and other liabilities 135,767 6,048 — 141,815 Intercompany payable — 17,096 (17,096 ) — Total liabilities 2,430,195 107,219 (17,096 ) 2,520,318 Equity: Common stock 12,761 — — 12,761 Common stock – additional paid-in capital 2,136,234 — — 2,136,234 Cumulative net earnings 1,147,998 11,591 (11,591 ) 1,147,998 Cumulative dividends paid (1,895,666 ) — — (1,895,666 ) Total stockholders’ equity 1,401,327 11,591 (11,591 ) 1,401,327 Total liabilities and equity $ 3,831,522 $ 118,810 $ (28,687 ) $ 3,921,645 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands, except per share amounts) Year Ended December 31, 2015 Issuer & Non – Elimination Consolidated Revenue Rental income $ 560,211 $ 45,780 $ - $ 605,991 Income from direct financing leases 59,936 - - 59,936 Mortgage interest income 68,910 - - 68,910 Other investment income – net 8,780 - - 8,780 Total operating revenues 697,837 45,780 - 743,617 Expenses Depreciation and amortization 192,375 18,328 - 210,703 General and administrative 38,140 428 - 38,568 Acquisition costs 55,012 2,513 - 57,525 Impairment loss on real estate properties 17,681 - - 17,681 Provisions for uncollectible mortgages, notes and accounts receivable 5,966 1,905 - 7,871 Total operating expenses 309,174 23,174 - 332,348 Income before other income and expense 388,663 22,606 - 411,269 Other income (expense): Interest income 269 16 - 285 Interest expense (134,478 ) (12,903 ) - (147,381 ) Interest – amortization of deferred financing costs (6,969 ) (21 ) - (6,990 ) Interest – refinancing costs (29,714 ) 877 - (28,837 ) Realized loss on foreign exchange (173 ) - - (173 ) Equity in earnings 10,380 - (10,380 ) - Total other expense (160,685 ) (12,031 ) (10,380 ) (183,096 ) Income before gain on assets sold 227,978 10,575 (10,380 ) 228,173 Gain on assets sold - net 6,353 - - 6,353 Income from continuing operations before income taxes 234,331 10,575 (10,380 ) 234,526 Income taxes (1,016 ) (195 ) - (1,211 ) Net income 233,315 10,380 (10,380 ) 233,315 Net income attributable to noncontrolling interest (8,791 ) - - (8,791 ) Net income available to common stockholders $ 224,524 $ 10,380 $ (10,380 ) $ 224,524 Net income $ 233,315 $ 10,380 $ (10,380 ) $ 233,315 Other comprehensive loss – foreign currency translation (8,413 ) - - (8,413 ) Other comprehensive loss – cash flow hedges (718 ) - - (718 ) Total comprehensive income 224,184 10,380 (10,380 ) 224,184 Add: comprehensive income attributable to noncontrolling interest 419 - - 419 Comprehensive income attributable to common stockholders $ 224,603 $ 10,380 $ (10,380 ) $ 224,603 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING STATEMENT OF OPERATIONS (in thousands, except per share amounts) Year Ended December 31, 2014 Issuer & Non – Elimination Consolidated Revenue Rental income $ 375,279 $ 13,164 $ - $ 388,443 Income from direct financing leases 56,719 - - 56,719 Mortgage interest income 53,007 - - 53,007 Other investment income – net 6,618 - - 6,618 Total operating revenues 491,623 13,164 - 504,787 Expenses Depreciation and amortization 117,976 5,281 - 123,257 General and administrative 25,759 129 - 25,888 Acquisition costs 3,948 - - 3,948 Impairment loss on real estate properties 3,660 - - 3,660 Provisions for uncollectible mortgages, notes and accounts receivable 2,723 - - 2,723 Total operating expenses 154,066 5,410 - 159,476 Income before other income and expense 337,557 7,754 - 345,311 Other income (expense): Interest income 29 15 - 44 Interest expense (116,075 ) (3,294 ) - (119,369 ) Interest – amortization of deferred financing costs (4,437 ) (22 ) - (4,459 ) Interest – refinancing costs (3,041 ) - - (3,041 ) Equity in earnings 4,453 - (4,453 ) - Total other expense (119,071 ) (3,301 ) (4,453 ) (126,825 ) Income before gain on assets sold 218,486 4,453 (4,453 ) 218,486 Gain on assets sold - net 2,863 - - 2,863 Net income available to common stockholders $ 221,349 $ 4,453 $ (4,453 ) $ 221,349 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING STATEMENT OF OPERATIONS (in thousands, except per share amounts) Year Ended December 31, 2013 Issuer & Non – Elimination Consolidated Revenue Rental income $ 362,033 $ 13,102 $ - $ 375,135 Income from direct financing leases 5,203 - - 5,203 Mortgage interest income 29,351 - - 29,351 Other investment income – net 9,025 - - 9,025 Total operating revenues 405,612 13,102 - 418,714 Expenses Depreciation and amortization 123,443 5,203 - 128,646 General and administrative 21,466 122 - 21,588 Acquisition costs 245 - - 245 Impairment loss on real estate properties 415 - - 415 Provisions for uncollectible mortgages, notes and accounts receivable 2,141 - - 2,141 Total operating expenses 147,710 5,325 - 153,035 Income before other income and expense 257,902 7,777 - 265,679 Other income (expense): Interest income 26 15 - 41 Interest expense (96,673 ) (3,708 ) - (100,381 ) Interest – amortization of deferred financing costs (2,763 ) (16 ) - (2,779 ) Interest – refinancing gain 11,112 - - 11,112 Equity in earnings 4,068 - (4,068 ) - Total other expense (84,230 ) (3,709 ) (4,068 ) (92,007 ) Income before gain (loss) on assets sold 173,672 4,068 (4,068 ) 173,672 Loss on assets sold - net (1,151 ) - - (1,151 ) Net income available to common stockholders $ 172,521 $ 4,068 $ (4,068 ) $ 172,521 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands ) Year Ended December 31, 2015 Issuer & Subsidiary Non-Guarantor Elimination Consolidated Cash flows from operating activities Net income $ 233,315 $ 10,380 $ (10,380 ) $ 233,315 Adjustment to reconcile net income to net cash provided by operating activities: Depreciation and amortization 192,375 18,328 — 210,703 Provision for impairment on real estate properties 17,681 — — 17,681 Provision for uncollectible mortgages, notes and accounts receivable 5,966 1,905 — 7,871 Amortization of deferred financing and refinancing costs 36,683 (856 ) — 35,827 Accretion of direct financing leases (11,007 ) — — (11,007 ) Stock-based compensation 11,133 — — 11,133 Gain on assets sold – net (6,353 ) — — (6,353 ) Amortization of acquired in-place leases - net (13,846 ) — — (13,846 ) Change in operating assets and liabilities – net of amounts assumed/acquired: Accounts receivable, net 248 — — 248 Straight-line rent receivables (32,815 ) (3,242 ) — (36,057 ) Lease inducements 994 — — 994 Effective yield receivable on mortgage notes (4,065 ) — — (4,065 ) Other operating assets and liabilities (9,654 ) 16,715 10,380 17,441 Net cash provided by operating activities 420,655 43,230 — 463,885 Cash flows from investing activities Acquisition of real estate – net of liabilities assumed and escrows acquired (116,698 ) (177,484 ) — (294,182 ) Cash acquired in merger 84,858 — — 84,858 Investment in construction in progress (164,226 ) — — (164,226 ) Investment in U.K. subsidiary (165,760 ) 165,760 — — Investment in direct financing leases (6,793 ) — — (6,793 ) Placement of mortgage loans (14,042 ) — — (14,042 ) Proceeds from sale of real estate investments 41,543 — — 41,543 Capital improvements to real estate investments (24,599 ) (1,798 ) — (26,397 ) Proceeds from other investments 45,871 — — 45,871 Investments in other investments (65,402 ) — — (65,402 ) Collection of mortgage principal 1,359 — — 1,359 Net cash used in investing activities (383,889 ) (13,522 ) — (397,411 ) Cash flows from financing activities Proceeds from credit facility borrowings 1,826,000 — — 1,826,000 Payments on credit facility borrowings (1,681,000 ) — — (1,681,000 ) Receipts of other long-term borrowings 1,838,124 — — 1,838,124 Payments of other long-term borrowings (2,161,661 ) (25,653 ) — (2,187,314 ) Payments of financing related costs (54,721 ) — — (54,721 ) Receipts from dividend reinvestment plan 150,847 — — 150,847 Payments for exercised options and restricted stock – net (26,706 ) — — (26,706 ) Net proceeds from issuance of common stock 439,322 — — 439,322 Dividends paid (358,232 ) — — (358,232 ) Distributions to OP Unit holders (11,636 ) — — (11,636 ) Net cash used in financing activities (39,663 ) (25,653 ) — (65,316 ) (Decrease) increase in cash and cash equivalents (2,897 ) 4,055 — 1,158 Effect of foreign currency translation on cash and cash equivalents — (223 ) — (223 ) Cash and cash equivalents at beginning of period 4,489 — — 4,489 Cash and cash equivalents at end of period $ 1,592 $ 3,832 $ — $ 5,424 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands ) Year Ended December 31, 2014 Issuer & Subsidiary Non-Guarantor Elimination Consolidated Cash flows from operating activities Net income $ 221,349 $ 4,453 $ (4,453 ) $ 221,349 Adjustment to reconcile net income to net cash provided by operating activities: Depreciation and amortization 117,976 5,281 — 123,257 Provision for impairment on real estate properties 3,660 — — 3,660 Provision for uncollectible mortgages, notes and accounts receivable 2,723 — — 2,723 Amortization of deferred financing and refinancing costs 7,479 21 — 7,500 Accretion of direct financing leases (9,787 ) — — (9,787 ) Stock-based compensation 8,592 — — 8,592 Gain on assets sold – net (2,863 ) — — (2,863 ) Amortization of acquired in-place leases - net (4,986 ) — — (4,986 ) Change in operating assets and liabilities – net of amounts assumed/acquired: Accounts receivable, net (2,264 ) — — (2,264 ) Straight-line rent receivables (19,750 ) (1,206 ) — (20,956 ) Lease inducements 2,656 — — 2,656 Effective yield receivable on mortgage notes (2,878 ) — — (2,878 ) Other operating assets and liabilities 11,432 (4,348 ) 4,453 11,537 Net cash provided by operating activities 333,339 4,201 — 337,540 Cash flows from investing activities Acquisition of real estate – net of liabilities assumed and escrows acquired (131,689 ) — — (131,689 ) Placement of mortgage loans (529,548 ) — — (529,548 ) Proceeds from sale of real estate investments 4,077 — — 4,077 Capital improvements to real estate investments (15,526 ) (2,391 ) — (17,917 ) Proceeds from other investments 13,589 — — 13,589 Investments in other investments (9,441 ) — — (9,441 ) Collection of mortgage principal 122,984 — — 122,984 Net cash used in investing activities (545,554 ) (2,391 ) — (547,945 ) Cash flows from financing activities Proceeds from credit facility borrowings 900,000 — — 900,000 Payments on credit facility borrowings (1,141,000 ) — — (1,141,000 ) Receipts of other long-term borrowings 842,148 — — 842,148 Payments of other long-term borrowings (240,734 ) (1,810 ) — (242,544 ) Payments of financing related costs (17,716 ) — — (17,716 ) Receipts from dividend reinvestment plan 71,487 — — 71,487 Payments for exercised options and restricted stock – net (3,577 ) — — (3,577 ) Net proceeds from issuance of common stock 61,981 — — 61,981 Dividends paid (258,501 ) — — (258,501 ) Net cash provided by (used in) financing activities 214,088 (1,810 ) — 212,278 Increase in cash and cash equivalents 1,873 — — 1,873 Cash and cash equivalents at beginning of period 2,616 — — 2,616 Cash and cash equivalents at end of period $ 4,489 $ — $ — $ 4,489 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands ) Year Ended December 31, 2013 Issuer & Subsidiary Non-Guarantor Elimination Consolidated Cash flows from operating activities Net income $ 172,521 $ 4,068 $ (4,068 ) $ 172,521 Adjustment to reconcile net income to net cash provided by operating activities: Depreciation and amortization 123,443 5,203 — 128,646 Provision for impairment on real estate properties 415 — — 415 Provision for uncollectible mortgages, notes and accounts receivable 2,141 — — 2,141 Amortization of deferred financing and refinancing costs (8,349 ) 16 — (8,333 ) Accretion of direct financing leases (770 ) — — (770 ) Stock-based compensation 5,942 — — 5,942 Loss on assets sold – net 1,151 — — 1,151 Amortization of acquired in-place leases - net (5,083 ) — — (5,083 ) Change in operating assets and liabilities – net of amounts assumed/acquired: Accounts receivable, net 867 — — 867 Straight-line rent receivables (25,402 ) (1,497 ) — (26,899 ) Lease inducements 3,080 — — 3,080 Effective yield receivable on mortgage notes (1,757 ) — — (1,757 ) Other operating assets and liabilities 10,854 (6,894 ) 4,068 8,028 Net cash provided by operating activities 279,053 896 — 279,949 Cash flows from investing activities Acquisition of real estate – net of liabilities assumed and escrows acquired (32,515 ) — — (32,515 ) Investment in direct financing leases (528,675 ) — — (528,675 ) Placement of mortgage loans (3,378 ) — — (3,378 ) Proceeds from sale of real estate investments 2,292 — — 2,292 Capital improvements to real estate investments (31,347 ) — — (31,347 ) Proceeds from other investments 30,962 — — 30,962 Investments in other investments (36,655 ) — — (36,655 ) Collection of mortgage principal 485 — — 485 Net cash used in investing activities (598,831 ) — — (598,831 ) Cash flows from financing activities Proceeds from credit facility borrowings 511,000 — — 511,000 Payments on credit facility borrowings (343,000 ) — — (343,000 ) Receipts of other long-term borrowings 159,355 — — 159,355 Payments of other long-term borrowings (113,746 ) (896 ) — (114,642 ) Payments of financing related costs (3,234 ) — — (3,234 ) Receipts from dividend reinvestment plan 55,825 — — 55,825 Payments for exercised options and restricted stock – net (5,774 ) — — (5,774 ) Net proceeds from issuance of common stock 278,373 — — 278,373 Dividends paid (218,116 ) — — (218,116 ) Net cash provided by (used in) financing activities 320,683 (896 ) — 319,787 Increase in cash and cash equivalents 905 — — 905 Cash and cash equivalents at beginning of period 1,711 — — 1,711 Cash and cash equivalents at end of period $ 2,616 $ — $ — $ 2,616

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 22– SUBSEQUENT EVENTS On January 29, 2016, we entered into a Third Amendment to Credit Agreement (the “Third Amendment to Omega Credit Agreement”), which further amended the First Amendment to Omega Credit Agreement to provide, among other things, for a $350 million senior unsecured incremental term loan facility (the “Tranche A-3 Term Loan Facility,” and together with the Tranche A-1 Term Loan Facility and the Tranche A-2 Term Loan Facility, the “Term Loan Facilities”), which was borrowed in full at closing. The Tranche A-3 Term Loan Facility matures on January 29, 2021. The proceeds from this borrowing were used to pay down the Revolving Credit Facility and for general corporate purposes. The Tranche A-3 Term Loan Facility bears interest at LIBOR plus an applicable percentage (beginning at 150 basis points, with a range of 100 to 195 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings. The Third Amendment to Omega Credit Agreement also permits us, subject to compliance with customary conditions, to increase the Revolving Credit Facility or to add one or more tranches of incremental term loans, or both, by an aggregate principal amount not exceeding $250 million. On February 1, 2016, we acquired 10 SNFs from Laurel for approximately $169.0 million in cash and leased them to an unrelated existing operator. Immediately following our acquisition, the unrelated existing operator acquired all of the outstanding equity interests of Laurel, including the interests previously held by a director of the Company and his family. The director, together with certain members of his immediate family, beneficially owned approximately 34% of the equity of Laurel prior to the transaction. The SNFs, consisting of 985 operating beds are located in Ohio (6), Virginia (3) and Michigan (1). The new master lease has an initial annual cash yield of 8.5% and annual escalators of 2.0% and is cross defaulted to the operator’s existing master lease.

SCHEDULE III REAL ESTATE AND AC

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2015
Real Estate and Accumulated Depreciation Disclosure [Abstract]
REAL ESTATE AND ACCUMULATED DEPRECIATION	SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION OMEGA HEALTHCARE INVESTORS, INC. December 31, 2015 (3) Gross Amount at Which Carried at Initial Cost to Cost Capitalized Close of Period Life on Which Company Subsequent to Buildings Depreciation Buildings Acquisition and Land (4) in Latest and Land Improvements Accumulated Date of Date Income Statements Description (1) Encumbrances Improvements Improvements Impairment Other Total Depreciation Construction Acquired is Computed Maplewood Connecticut (AL) $ 238,354,341 $ 1,800,767 $ - $ - $ 240,155,108 $ 4,620,737 1968-2015 2015 40 years Massachusetts (AL, SNF) 89,889,681 23,799,252 - - 113,688,933 1,583,999 1988-1994 2015 30 years to 40 years New York (AL) - 116,423,931 - - 116,423,931 - - 2015 - Ohio (AL) 11,863,638 12,115,202 - - 23,978,840 193,134 1999 2015 40 years Total Maplewood 340,107,660 154,139,152 - - 494,246,812 6,397,870 Daybreak Venture: Texas (SNF) 341,097,695 5,534,280 - - 346,631,975 14,909,229 1955-2015 2010-2015 20 years to 40 years Missouri (SNF) 16,599,859 - - - 16,599,859 591,701 1967-1992 2015 26 years to 40 years Total Daybreak Venture 357,697,554 5,534,280 - - 363,231,834 15,500,930 Genesis HealthCare: Alabama (SNF) 23,584,956 6,523,220 - - 30,108,176 16,153,134 1964-1974 1997 33 years California (SNF) 15,618,263 26,652 - - 15,644,915 8,181,493 1927-1972 1997 33 years Colorado (SNF, ILF) 38,341,877 5,444,311 - - 43,786,188 12,219,868 1963-1975 2006 39 years Idaho (SNF) 19,491,960 974,012 - - 20,465,972 5,550,009 1920-1987 1997-2015 20 years to 39 years Massachusetts (SNF) 71,446,102 2,660,093 (8,257,521 ) - 65,848,674 21,355,093 1866-1993 1997-2015 20 years to 39 years New Hampshire (SNF, AL) 21,619,503 1,462,797 - - 23,082,300 7,819,421 1963-1999 1998-2006 33 years to 39 years North Carolina (SNF) 22,652,488 3,550,986 - - 26,203,474 16,264,936 1964-1986 1994-1997 30 years to 33 years Ohio (SNF) 11,653,451 20,246 - - 11,673,697 6,217,229 1968-1983 1997 33 years Rhode Island (SNF) 38,740,812 4,792,882 - - 43,533,694 14,693,658 1965-1981 2006 25 years to 39 years Tennessee (SNF) 7,905,139 2,537,508 - - 10,442,647 6,268,623 1984-1985 1994 30 years Vermont (SNF) 6,322,888 602,296 - - 6,925,184 2,237,449 1971 2004 39 years Washington (SNF) 10,000,000 1,798,844 - - 11,798,844 11,034,888 1965 1995 20 years West Virginia (SNF) 44,277,206 6,528,560 - - 50,805,766 23,068,927 1961-1986 1997-2008 25 years to 33 years Total Genesis HealthCare 331,654,645 36,922,407 (8,257,521 ) - 360,319,531 151,064,728 Other: Alabama (SNF) 11,588,534 6,392,567 - - 17,981,101 12,588,052 1960-1982 1992 31.5 years Arizona (SNF, AL, TBI) 133,762,829 5,712,049 (6,603,745 ) - 132,871,133 21,508,043 1949-1999 1998-2015 20 years to 40 years Arkansas (SNF, AL) (2) 201,572,337 13,169,759 (36,350 ) - 214,705,746 48,640,738 1960-2009 1992-2015 20 years to 40 years California (SNF, TBI) 490,902,316 3,492,869 - - 494,395,185 33,730,723 1938-2013 1997-2015 20 years to 40 years Colorado (SNF) 33,527,071 2,346,167 - - 35,873,238 13,344,365 1958-1973 1998-2011 20 years to 33 years Connecticut 5,324,200 980,393 (5,425,656 ) - 878,937 - 1965 1999 N/A Florida (SNF, AL) 667,833,234 23,362,442 (6,951,897 ) (2,784,718 ) 681,459,061 174,698,077 1925-2009 1992-2015 20 years to 40 years Georgia (SNF, AL) 43,096,820 3,950,028 - - 47,046,848 11,480,058 1964-1998 1998-2015 20 years to 37.5 years Idaho (SNF, AL) 50,889,041 341,170 - - 51,230,211 4,238,429 1911-2008 1999-2015 20 years to 40 years Illinois (SNF) 118,108,747 510,576 - - 118,619,323 10,750,250 1926-1990 1996-2015 20 years to 40 years Indiana (SNF, AL, ILF, SH, MOB) 402,853,211 2,332,364 (3,419,264 ) (2,296,391 ) 399,469,920 61,998,182 1923-2008 1992-2015 20 years to 40 years Iowa (SNF, AL) 70,549,074 2,084,807 - - 72,633,881 10,408,588 1961-1998 1997-2015 20 years to 35 years Kansas (SNF) 53,836,542 3,453,770 - - 57,290,312 2,930,226 1957-1985 2010-2015 20 years to 40 years Kentucky (SNF, AL) 174,052,192 10,314,747 - - 184,366,939 31,640,307 1917-2002 1994-2015 20 years to 40 years Louisiana (SNF) 55,046,915 1,748,900 - - 56,795,815 16,408,775 1957-1983 1997-2006 33 years to 39 years Maryland (SNF) 77,361,184 1,787,838 - - 79,149,022 17,002,780 1921-1985 2010-2011 25 years to 30 years Massachusetts (SNF) 5,804,554 - - - 5,804,554 2,015,500 1964 2009 20 years Michigan (AL, SNF) 168,554,079 25,000 - - 168,579,079 9,134,074 1964-1997 2011-2015 25 years to 38 years Minnesota (SNF, AL, ILF) 61,256,047 160,912 - - 61,416,959 1,696,595 1958-1983 2015 25 years to 40 years Mississippi (SNF) 52,416,905 826,654 - - 53,243,559 12,492,706 1962-1988 2009-2010 20 years to 40 years Missouri (SNF) 130,105,483 518,236 (149,386 ) (3,189 ) 130,471,144 9,968,625 1955-1994 1999-2015 20 years to 40 years Montana (SNF) 12,922,122 - - - 12,922,122 365,003 1963-1971 2015 28 years to 35 years Nebraska (SNF, SH) 24,713,411 - - - 24,713,411 833,206 1963-1969 2015 20 years to 30 years Nevada (SNF, SH, TBI) 56,460,311 6,520,453 - - 62,980,764 7,138,584 1972-2004 2009-2015 26 years to 40 years New Mexico (SNF) 77,417,687 130,323 - - 77,548,010 4,505,927 1960-1989 2008-2015 20 years to 40 years North Carolina (SNF, ILF) 102,450,560 - - - 102,450,560 10,067,103 1927-1992 2010-2015 25 years to 36 years Ohio (SNF, AL, SH) 714,157,279 39,057,863 - (540,000 ) 752,675,142 126,494,171 1920-2008 1994-2015 20 years to 40 years Oklahoma (SNF, AL) 45,178,160 - - - 45,178,160 6,495,153 1965-2013 2010-2015 20 years to 37 years Oregon (SNF, AL) 50,133,027 - - - 50,133,027 1,355,373 1959-2004 2014-2015 20 years to 40 years Pennsylvania (SNF, AL, ILF) 351,858,552 11,281,116 - - 363,139,668 60,983,104 1873-2012 1998-2015 20 years to 40 years South Carolina (SNF) 57,482,493 - - - 57,482,493 3,000,884 1959-1990 2014-2015 20 years to 30 years Tennessee (SNF, AL) 98,233,849 8,046,100 - - 106,279,949 35,719,553 1958-1983 1992-2015 20 years to 40 years Texas (SNF) 348,007,669 15,500,178 (2,079,893 ) (1,820,356 ) 359,607,598 55,453,711 1952-2014 1997-2015 20 years to 40 years United Kingdom (AL) 177,484,058 - - (7,784,463 ) 169,699,595 3,639,903 1750-2000 2015 30 years Utah (SNF) 3,620,000 - - - 3,620,000 124,908 1977 2015 24 years Virginia (SNF) 32,642,987 - - - 32,642,987 550,145 1995 2015 35 years to 39 years Washington (AL, SNF) 152,778,525 65,607 - - 152,844,132 6,493,557 1930-2004 1999-2015 20 years to 40 years West Virginia (SNF) 24,641,423 348,642 - - 24,990,065 6,690,397 1961-1996 1994-2011 33 years to 39 years Wisconsin (SNF, AL) 60,601,506 2,369,865 - (1,500 ) 62,969,871 9,600,375 1930-1994 2009-2015 20 years to 28 years Total Other 5,399,224,934 166,831,395 (24,666,191 ) (15,230,617 ) 5,526,159,521 846,186,150 Total $ 6,428,684,793 $ 363,427,234 $ (32,923,712 ) $ (15,230,617 ) $ 6,743,957,698 $ 1,019,149,678 (1) The real estate included in this schedule is being used in either the operation of skilled nursing facilities (SNF), assisted living facilities (AL), independent living facilities (ILF), tramatic brain injury (TBI), medical office building (MOB) or specialty hospitals (SH) located in the states indicated. (2) Certain of the real estate indicated are security for the HUD loan borrowings totaling $56,204,170 at December 31, 2015. Year Ended December 31, (3) 2013 2014 2015 Balance at beginning of period $ 3,038,552,898 $ 3,099,547,182 $ 3,223,785,295 Acquisitions 35,529,419 131,689,483 3,371,233,860 Impairment (414,687 ) (3,660,381 ) (12,916,233 ) Improvements 31,346,919 17,916,855 220,272,401 Disposals/other (5,467,367 ) (21,707,844 ) (58,417,625 ) Balance at close of period $ 3,099,547,182 $ 3,223,785,295 $ 6,743,957,698 (4) 2013 2014 2015 Balance at beginning of period $ 580,373,211 $ 707,409,888 $ 821,711,991 Provisions for depreciation 128,523,788 123,141,880 210,554,569 Dispositions/other (1,487,111 ) (8,839,777 ) (13,116,882 ) Balance at close of period $ 707,409,888 $ 821,711,991 $ 1,019,149,678 (5) The reported amount of our real estate at December 31, 2015 is greater than the tax basis of the real estate by approximately $1.1 billion.

SCHEDULE IV MORTGAGE LOANS ON R

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE	12 Months Ended
	Dec. 31, 2015
Mortgage Loans On Real Estate [Abstract]
MORTGAGE LOANS ON REAL ESTATE	SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE OMEGA HEALTHCARE INVESTORS, INC. December 31, 2015 Grouping Description (1) Interest Rate Final Maturity Date Periodic Payment Terms Prior Liens Face Amount of Mortgages Carrying Amount of Mortgages (2) (3) Principal Amount of Loans Subject to Delinquent Principal or Interest 1 Florida (3 SNF facilities) 11.04 % 2030 Interest payable monthly None $ 15,900,000 $ 15,780,156 2 Louisiana (1 AL facility) 8.75 % 2018 Interest payable monthly None 2,939,312 2,939,312 3 Maryland (7 SNF facilities) 11.00 % 2023 Interest payable monthly None 74,927,751 69,927,759 4 Maryland (1 SNF facility) 12.00 % 2046 Interest payable monthly None 10,000,000 10,000,000 - 5 Maryland (1 SNF facility) 12.00 % 2046 Interest payable monthly None 9,500,000 9,500,000 - 6 Maryland (1 SNF facility) 12.00 % 2046 Interest payable monthly None 5,500,000 5,500,000 - 7 Michigan (31 SNF facilities) 9.23 % 2029 Interest plus $96,000 of principal payable monthly None 415,000,000 413,399,042 8 Michigan (1 SNF facility) 10.51 % 2021 Interest payable monthly None 3,382,260 3,382,260 - 9 Michigan (1 SNF facility) 10.00 % 2029 Interest payable monthly None 692,446 692,446 - 10 Michigan (1 SNF facility) 10.00 % 2029 Interest payable monthly None 439,925 439,925 - 11 Michigan (1 SNF facility) 10.25 % 2021 Interest payable monthly None 3,521,113 3,521,113 - 12 Michigan (1 SNF facility) 10.00 % 2029 Interest payable monthly None 175,900 175,900 - 13 Michigan (1 SNF facility) 10.00 % 2029 Interest payable monthly None 49,008 49,008 - 14 Michigan (1 SNF facility) 10.00 % 2029 Interest payable monthly None 66,087 66,087 - 15 Michigan (1 SNF facility) 10.00 % 2029 Interest payable monthly None 674,541 674,541 - 16 Michigan (1 SNF facility) 10.00 % 2029 Interest payable monthly None 384,343 384,343 - 17 Michigan (1 SNF facility) 12.00 % 2046 Interest payable monthly None 1,500,000 1,500,000 - 18 Missouri (1 SNF facility) and Tennessee ( 1 SNF facility) 8.35 % 2015 Interest plus $8,800 of principal payable monthly None 6,997,610 6,445,399 19 Ohio (2 SNF facilities) and Pennsylvania (5 SNF and 2 AL facilities) 9.64 % 2024 Interest payable monthly None 112,500,000 112,500,000 - 20 Ohio (1 SNF facility) 12.00 % 2022 Interest plus $2,400 of principal payable monthly None 6,112,406 6,023,197 12.00 % 2022 Interest payable monthly None 345,011 345,011 - 12.00 % 2022 Interest payable monthly None 796,397 796,397 - 12.00 % 2022 Interest payable monthly None 112,100 112,100 - 12.00 % 2022 Interest payable monthly None 194,806 194,806 - 21 Ohio (1 SNF facility) 11.42 % 2018 Interest payable monthly None 11,874,013 12,508,966 22 South Carolina (1 AL facility) 8.75 % 2018 Interest payable monthly None 1,134,935 1,134,935 - 23 Virginia (1 AL facility) 8.75 % 2018 Interest payable monthly None 1,802,533 1,802,533 - $ 686,522,497 $ 679,795,236 (1) Mortgage loans included in this schedule represent first mortgages on facilities used in the delivery of long-term healthcare of which such facilities are located in the states indicated. (2) The aggregate cost for federal income tax purposes is equal to the carrying amount. Year Ended December 31, (3) 2013 2014 2015 Balance at beginning of period $ 238,621,161 $ 241,514,812 $ 648,078,550 Additions during period - Placements 3,378,357 529,547,836 33,288,320 Deductions during period - collection of principal/other (484,706 ) (122,984,098 ) (1,571,634 ) Balance at close of period $ 241,514,812 $ 648,078,550 $ 679,795,236

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurement	Fair Value Measurement The Company measures and discloses the fair value of nonfinancial and financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: · Level 1 - quoted prices for identical instruments in active markets; · Level 2 - quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and · Level 3 - fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company measures fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at fair value. When available, the Company utilizes quoted market prices from an independent third party source to determine fair value and classifies such items in Level 1. In some instances where a market price is available, but the instrument is in an inactive or over-the-counter market, the Company consistently applies the dealer (market maker) pricing estimate and classifies such items in Level 2. If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and or market capitalization rates. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, these items could be classified in either Level 2 or Level 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by the Company include discounted cash flow and Monte Carlo valuation models.
Risks and Uncertainties	Risks and Uncertainties Our Company is subject to certain risks and uncertainties affecting the healthcare industry as a result of healthcare legislation and growing regulation by federal, state and local governments. Additionally, we are subject to risks and uncertainties as a result of changes affecting operators of nursing home facilities due to the actions of governmental agencies and insurers to limit the rising cost of healthcare services (see Note 9 – Concentration of Risk).
Business Combinations	Business Combinations We record the purchase of properties to net tangible and identified intangible assets acquired and liabilities assumed at their fair value. In making estimates of fair value for purposes of recording the purchase, we utilize a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. We also consider information obtained about each property as a result of our pre-acquisition due diligence, marketing and leasing activities as well as other critical valuation metrics such as capitalization rates and discount rates used to estimate the fair value of the tangible and intangible assets acquired (Level 3). When liabilities are assumed as part of a transaction, we consider information obtained about the liabilities and use similar valuation metrics (Level 3). In some instances when debt is assumed and an identifiable active market for similar debt is present, we use market interest rates for similar debt to estimate the fair value of the debt assumed (Level 2). The Company determines fair value as follows: · Land is determined based on third party appraisals. · Buildings and site improvements acquired are valued using a combination of discounted cash flow projections that assume certain future revenues and costs and consider capitalization and discount rates using current market conditions as well as replacement cost analysis. · Furniture and fixture is determined based on third party appraisals. · Intangible assets acquired are valued using a combination of discounted cash flow projections as well as other valuation techniques based on current market conditions for the intangible asset being acquired. When evaluating below market leases we consider extension options controlled by the lessee in our evaluation. For additional information regarding above and below market leases assumed as part of an acquisition see “In-Place Leases" below. · Other assets acquired and liabilities assumed are typically valued at stated amounts, which approximate fair value on the date of the acquisition. · Assumed debt balances are valued by discounting the remaining contractual cash flows using a current market rate of interest. · Stock based compensation and noncontrolling interests are valued using a stock price on the acquisition date. · Goodwill represents the purchase price in excess of the fair value of assets acquired and liabilities assumed and the cost associated with expanding our investment portfolio. Goodwill is not amortized.
Real Estate Investments and Depreciation	Real Estate Investments and Depreciation The costs of significant improvements, renovations and replacements, including interest are capitalized. In addition, we capitalize leasehold improvements when certain criteria are met, including when we supervise construction and will own the improvement. Expenditures for maintenance and repairs are charged to operations as they are incurred. Depreciation is computed on a straight-line basis over the estimated useful lives ranging from 20 to 40 years for buildings, eight to 15 years for site improvements, and three to 10 years for furniture, fixtures and equipment. Leasehold interests are amortized over the shorter of the estimated useful life or term of the lease. As of December 31, 2015 and 2014, we had identified conditional asset retirement obligations primarily related to the future removal and disposal of asbestos that is contained within certain of our real estate investment properties. The asbestos is appropriately contained, and we believe we are compliant with current environmental regulations. If these properties undergo major renovations or are demolished, certain environmental regulations are in place, which specify the manner in which asbestos must be handled and disposed. We are required to record the fair value of these conditional liabilities if they can be reasonably estimated. As of December 31, 2015 and 2014, sufficient information was not available to estimate our liability for conditional asset retirement obligations as the obligations to remove the asbestos from these properties have indeterminable settlement dates. As such, no liability for conditional asset retirement obligations was recorded on our accompanying Consolidated Balance Sheets as of December 31, 2015 and 2014.
Lease Accounting	Lease Accounting At the inception of the lease and during the amendment process, we evaluate each lease to determine if the lease should be considered an operating lease, sales-type lease, or direct financing lease. We have determined that all but seven of our leases should be accounted for as operating leases. The other seven leases are accounted for as direct financing leases. For leases accounted for as operating leases, we retain ownership of the asset and record depreciation expense, see “Business Combinations” and “Real Estate Investments and Depreciation” above for additional information regarding our investment in real estate leased under operating lease agreements. We also record lease revenue based on the contractual terms of the operating lease agreement which often includes annual rent escalators, see “Revenue Recognition” below for further discussion regarding the recordation of revenue on our operating leases. For leases accounted for as , we record the present value of the future minimum lease payments (utilizing a constant interest rate over the term of the lease agreement) as a receivable and record
In-Place Leases	In-Place Leases In-place lease assets and liabilities result when we assume a lease as part of a facility purchase or business combination. The fair value of in-place leases consists of the following components, as applicable (1) the estimated cost to replace the leases, and (2) the above or below market cash flow of the leases, determined by comparing the projected cash flows of the leases in place at the time of acquisition to projected cash flows of comparable market-rate leases (referred to as Lease Intangibles). Lease Intangible assets and liabilities are classified as lease contracts above and below market value, respectively in “other assets” and “accrued expenses and other liabilities,” and amortized on a straight-line basis as decreases and increases, respectively, to rental income over the estimated remaining term of the underlying leases. Should a tenant terminate the lease, the unamortized portion of the Lease Intangible is recognized immediately as income or expense. As of December 31, 2015 and 2014, we had $110.2 million and $20.4 million, respectively, of below market lease liabilities and $7.8 million and $2.4 million, respectively, of above market lease assets recorded on our Consolidated Balance Sheets. We expect net amortization of the in-place leases to increase rental income by: (in millions) 2016 $ 16.0 2017 14.8 2018 13.1 2019 12.0 2020 11.7 Thereafter 34.8 Total $ 102.4 For the years ended December 31, 2015, 2014 and 2013, we have amortized $13.8 million, $5.0 million and $5.1 million, respectively, as a net increase to rental income. Amounts presented above include the preliminary purchase accounting for the Aviv Merger, see Note 3 - Properties. For additional information, see Note 8 – Intangibles.
Asset Impairment	Asset Impairment Management evaluates our real estate investments for impairment indicators, including the evaluation of our assets’ useful lives. The judgment regarding the existence of impairment indicators is based on factors such as, but not limited to, market conditions, operator performance and legal structure. If indicators of impairment are present, management evaluates the carrying value of the related real estate investments in relation to the future undiscounted cash flows of the underlying facilities. Provisions for impairment losses related to long-lived assets are recognized when expected future undiscounted cash flows are determined to be less than the carrying values of the assets. An adjustment is made to the net carrying value of the real estate investments for the excess of carrying value over fair value . If we decide to sell real estate properties or land holdings, we evaluate the recoverability of the carrying amounts of the assets. If the evaluation indicates that the carrying value is not recoverable from estimated net sales proceeds, the property is written down to estimated fair value less costs to sell. Our estimates of cash flows and fair values of the properties are based on current market conditions and consider matters such as rental rates and occupancies for comparable properties, recent sales data for comparable properties, and, where applicable, contracts or the results of negotiations with purchasers or prospective purchasers. For the years ended December 31, 2015, 2014 and 2013, we recognized impairment losses of $17.7 million, $3.7 million and $0.4 million, respectively. The impairments are primarily the result of closing facilities or updating the estimated proceeds we expect to receive for the sale of closed facilities. For additional information, see Note 3 – Properties and Note 7 – Assets Held For Sale.
Loan and Direct Financing Lease Impairment	Loan and Direct Financing Lease Impairment Management evaluates our outstanding mortgage notes, direct financing leases and other notes receivable for impairment. When management identifies potential loan or direct financing lease impairment indicators, such as non-payment under the loan documents, impairment of the underlying collateral, financial difficulty of the operator or other circumstances that may impair full execution of the loan documents or direct financing leases, and management believes it is probable that all amounts will not be collected under the contractual terms of the loan or direct financing lease, the loan or direct financing lease is written down to the present value of the expected future cash flows. In cases where expected future cash flows are not readily determinable, the loan or direct financing lease is written down to the fair value of the collateral. The fair value of the loan or direct financing lease is determined by market research, which includes valuing the property as a nursing home as well as other alternative uses. We account for impaired loans and direct financing leases using (a) the cost-recovery method, and/or (b) the cash basis method. We generally utilize the cost-recovery method for impaired loans or direct financing leases for which impairment reserves were recorded. We utilize the cash basis method for impaired loans or direct financing leases for which no impairment reserves were recorded because the net present value of the discounted cash flows expected under the loan or direct financing lease and or the underlying collateral supporting the loan or direct financing lease were equal to or exceeded the book value of the loans or direct financing leases. Under the cost-recovery method, we apply cash received against the outstanding loan balance or direct financing lease prior to recording interest income. Under the cash basis method, we apply cash received to principal or interest income based on the terms of the agreement. As of December 31, 2015 we had $3.0 million of reserves on our loans and no reserves on our direct financing leases. As of December 31, 2014, we had no reserves on our loans or direct financing leases. For additional information, see Note 4 – Direct Financing Leases, Note 5 – Mortgage Notes Receivable and Note 6 – Other Investments.
Assets Held for Sale	Assets Held for Sale We consider properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we expect the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property's value at the lower of its carrying value or its estimated fair value, less estimated costs to sell, and we cease depreciation. For additional information, see Note 7 – Assets Held for Sale.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments with a maturity date of three months or less when purchased. These investments are stated at cost, which approximates fair value. The majority of our cash and cash equivalents are held at major commercial banks.
Restricted Cash	Restricted Cash Restricted cash consists primarily of funds escrowed for tenants’ security deposits required by us pursuant to certain contractual terms (see Note 10 – Lease and Mortgage Deposits).
Accounts Receivable	Accounts Receivable Accounts receivable includes: contractual receivables, effective yield interest receivables, straight-line rent receivables and lease inducements, net of an estimated provision for losses related to uncollectible and disputed accounts. Contractual receivables relate to the amounts currently owed to us under the terms of the lease agreement. Effective yield interest receivables relate to the difference between the interest income recognized on an effective yield basis over the term of the loan agreement and the interest currently due to us according to the contractual agreement. Straight-line receivables relate to the difference between the rental revenue recognized on a straight-line basis and the amounts due to us contractually. Lease inducements result from value provided by us to the lessee at the inception or renewal of the lease are amortized as a reduction of rental revenue over the non cancellable lease term. On a quarterly basis, we review our accounts receivable to determine their collectability. The determination of collectability of these assets requires significant judgment and is affected by several factors relating to the credit quality of our operators that we regularly monitor, including (i) payment history, (ii) the age of the contractual receivables, (iii) the current economic conditions and reimbursement environment, (iv) the ability of the tenant to perform under the terms of their lease and/or contractual loan agreements and (v) the value of the underlying collateral of the agreement. If we determine collectability of any of our contractual receivables is at risk, we estimate the potential uncollectible amounts and provide an allowance. In the case of a lease recognized on a straight-line basis or existence of lease inducements, we generally provide an allowance for straight-line accounts receivable and/or the lease inducements when certain conditions or indicators of adverse collectability are present. A summary of our net receivables by type is as follows: December 31, 2015 2014 (in thousands) Contractual receivables $ 8,452 $ 4,799 Effective yield interest receivables 9,028 6,232 Straight-line receivables 175,709 143,652 Lease inducements 10,982 13,571 Allowance (309 ) (78 ) Accounts receivable – net $ 203,862 $ 168,176 We continuously evaluate the payment history and financial strength of our operators and have historically established allowance reserves for straight-line rent receivables from operators that do not meet our requirements. We consider factors such as payment history, the operator’s financial condition as well as current and future anticipated operating trends when evaluating whether to establish allowance reserves. In 2015, we wrote-off $3.2 million of straight-line rent receivables and $1.5 million of effective yield interest receivables associated with four facilities that will transition to a new operator and three mortgages that will be repaid prior to their maturity. This transaction closed in 2016. In 2014, we wrote-off (i) $0.8 million of straight-line rent receivables associated with a lease amendment to an existing operator for two facilities that were transitioned to a new operator and (ii) $2.0 million of effective yield interest receivables associated with the termination of a mortgage note that was due November 2021. See Note 3 – Properties and Note 5 – Mortgage Notes Receivable for additional information.
Goodwill Impairment	Goodwill Impairment We assess goodwill for potential impairment during the fourth quarter of each fiscal year, or during the year if an event or other circumstance indicates that we may not be able to recover the carrying amount of the net assets of the reporting unit. In evaluating goodwill for impairment, we first assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of the reporting unit is less than its carrying amount. If we conclude that it is more likely than not that the fair value of the reporting unit is less than its carrying value, then we perform a two-step goodwill impairment test to identify potential impairment and measure the amount of impairment we will recognize, if any. We do not expect any of the goodwill to be deductible for tax purposes. In the first step of the two-step goodwill impairment test (“Step 1”), we compare the fair value of the reporting unit to its net book value, including goodwill. As the Company has only one reporting unit, the fair value of the reporting unit is determined by reference to the market capitalization of the Company as determined through quoted market prices and adjusted for other relevant factors. A potential impairment exists if the fair value of the reporting unit is lower than its net book value. The second step (“Step 2”) of the process is only performed if a potential impairment exists, and it involves determining the difference between the fair value of the reporting unit's net assets other than goodwill and the fair value of the reporting unit. If the difference is less than the net book value of goodwill, impairment exists and is recorded. In the event that the Company determines that the value of goodwill has become impaired, the Company will record an accounting charge for the amount of impairment during the fiscal quarter in which the determination is made. The Company has not been required to perform Step 2 of the process because the fair value of the reporting unit has significantly exceeded its book value at the measurement date. There was no impairment of goodwill during 2015.
Income Taxes	Income Taxes We were organized to qualify for taxation as a REIT under Section 856 through 860 of the Internal Revenue Code (“Code”). As long as we qualify as a REIT; we will not be subject to federal income taxes on the REIT taxable income that we distributed to stockholders, subject to certain exceptions. However, with respect to certain of our subsidiaries that have elected to be treated as taxable REIT subsidiaries (“TRSs”), we record income tax expense or benefit, as those entities are subject to federal income tax similar to regular corporations. We account for deferred income taxes using the asset and liability method and recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in our financial statements or tax returns. Under this method, we determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes us to change our judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if we believe it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes us to change our judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. For additional information on income taxes, see Note 13 – Taxes.
Revenue Recognition	Revenue Recognition We have various different investments that generate revenue, including leased and mortgaged properties, as well as other investments, including working capital loans. We recognize rental income and other investment income as earned over the terms of the related leases and notes, respectively. Interest income is recorded on an accrual basis to the extent that such amounts are expected to be collected using the effective interest method. In applying the effective interest method, the effective yield on a loan is determined based on its contractual payment terms, adjusted for prepayment terms. Substantially all of our operating leases contain provisions for specified annual increases over the rents of the prior year and are generally computed in one of three methods depending on specific provisions of each lease as follows: (i) a specific annual increase over the prior year’s rent, generally between 2.0% and 3.0%; (ii) an increase based on the change in pre-determined formulas from year to year (e.g. increases in the Consumer Price Index); or (iii) specific dollar increases over prior years. Revenue under lease arrangements with minimum fixed and determinable increases is recognized over the non-cancellable term of the lease on a straight-line basis. The authoritative guidance does not provide for the recognition of contingent revenue until all possible contingencies have been eliminated. We consider the operating history of the lessee, the payment history, the general condition of the industry and various other factors when evaluating whether all possible contingencies have been eliminated. We do not recognize contingent rents as income until the contingencies have been resolved. In the case of rental revenue recognized on a straight-line basis, we generally record reserves against earned revenues from leases when collection becomes questionable or when negotiations for restructurings of troubled operators result in significant uncertainty regarding ultimate collection. The amount of the reserve is estimated based on what management believes will likely be collected. We continually evaluate the collectability of our straight-line rent assets. If it appears that we will not collect future rent due under our leases, we will record a provision for loss related to the straight-line rent asset. We record direct financing lease income on a constant interest rate basis over the term of the lease. The costs related to originating the direct financing leases have been deferred and are being amortized on a straight-line basis as a reduction to income from direct financing leases over the term of the direct financing leases. Mortgage interest income is recognized as earned over the terms of the related mortgage notes, using the effective yield method. Allowances are provided against earned revenues from mortgage interest when collection of amounts due becomes questionable or when negotiations for restructurings of troubled operators lead to lower expectations regarding ultimate collection. When collection is uncertain, mortgage interest income on impaired mortgage loans is recognized as received after taking into account application of security deposits. Gains on sales of real estate assets are recognized in accordance with the authoritative guidance for sales of real estate. The specific timing of the recognition of the sale and the related gain is measured against the various criteria in the guidance related to the terms of the transactions and any continuing involvement associated with the assets sold. To the extent the sales criteria are not met, we defer gain recognition until the sales criteria are met.
Stock-Based Compensation	Stock-Based Compensation We recognize stock-based compensation expense adjusted for estimated forfeitures to employees and directors, in “general and administrative” in our Consolidated Statements of Operations and Comprehensive Income on a straight-line basis over the requisite service period of the awards, see Note 16 – Stock-Based Compensation for additional details.
Deferred Financing Costs and Original Issuance Premium and/or Discounts for Debt Issuance	Deferred Financing Costs and Original Issuance Premium and/or Discounts for Debt Issuance External costs incurred from placement of our debt are capitalized and amortized on a straight-line basis over the terms of the related borrowings which approximates the effective interest method. The deferred financing costs are included in “other assets” in our Consolidated Balance Sheets. Original issuance premium or discounts reflect the difference between the face amount of the debt issued and the cash proceeds received and are amortized on a straight-line basis over the term of the related borrowings. All premium and discounts are recorded as an addition to or reduction from debt in our Consolidated Balance Sheets. Amortization of financing costs and original issuance premium or discounts total $7.0 million, $4.5 million and $2.8 million in 2015, 2014 and 2013, respectively, and are classified as “interest - amortization of deferred financing costs” in our Consolidated Statements of Operations and Comprehensive Income. When financings are terminated, unamortized deferred financing costs and unamortized premium or discounts, as well as charges incurred for the termination, are recognized as expense or income at the time the termination is made. Gains and losses from the extinguishment of debt are presented in “interest-refinancing (costs) gain” in our Consolidated Statements of Operations and Comprehensive Income.
Earnings Per Share	Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding during the year. Diluted EPS is computed using the treasury stock method, which is net income divided by the total weighted-average number of common outstanding shares plus the effect of dilutive common equivalent shares during the respective period. Dilutive common shares reflect the assumed issuance of additional common shares pursuant to certain of our share-based compensation plans, including stock options, restricted stock and performance restricted stock units and the assumed issuance of additional shares related to Omega OP Units held by outside investors. All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends or dividend equivalents that participate in undistributed earnings with common stockholders are considered participating securities that shall be included in the two-class method of computing basic EPS. The impact of the two class method is immaterial. For additional information, see Note 20 – Earnings Per Share.
Redeemable Limited Partnership Unitholder Interests and Noncontrolling Interests	Redeemable Limited Partnership Unitholder Interests and Noncontrolling Interests As of April 1, 2015 and after giving effect to the Aviv Merger, the Company owned approximately 138.8 million Omega OP Units and Aviv OP owned approximately 52.9 million Omega OP Units. Each of the Omega OP Units (other than the Omega OP Units owned by Omega) is redeemable at the election of the Omega OP Unit holder for cash equal to the then-fair market value of one share of Omega common stock, par value $0.10 per share (“Omega Common Stock”), subject to the Company’s election to exchange the Omega OP Units tendered for redemption for unregistered shares of Omega Common Stock on a one-for-one basis, subject to adjustment as set forth in the Partnership Agreement. Effective June 30, 2015, the Company (through Merger Sub, in its capacity as the general partner of Aviv OP) caused Aviv OP to make a distribution of Omega OP Units held by Aviv OP (or equivalent value) to Aviv OP investors (the “Aviv OP Distribution”) in connection with the liquidation of Aviv OP. As a result of the Aviv OP Distribution, Omega directly and indirectly owned approximately 95% of the outstanding Omega OP Units, and the other investors own approximately 5% of the outstanding Omega OP Units. As a part of the Aviv OP Distribution, Omega settled approximately 0.2 million units via cash settlement. As of December 31, 2015, Omega directly and indirectly owns approximately 95% of the outstanding Omega OP Units, and the other investors own approximately 5% of the outstanding Omega OP Units.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests is the portion of equity in the Omega OP not attributable to the Company. We present the portion of any equity that we do not own in consolidated entities as noncontrolling interests and classify those interests as a component of total equity, separate from total stockholders’ equity, on our Consolidated Balance Sheets. We include net income attributable to the noncontrolling interests in net income in our Consolidated Statements of Operations and Comprehensive Income. As our ownership of a controlled subsidiary increases or decreases, any difference between the aggregate consideration paid to acquire the noncontrolling interests and our noncontrolling interest balance is recorded as a component of equity in additional paid-in capital, so long as we maintain a controlling ownership interest.
Foreign Operations	Foreign Operations The U.S. dollar is the functional currency for our consolidated subsidiaries operating in the United States. The functional currency for our consolidated subsidiaries operating in countries other than the United States is the principal currency in which the entity primarily generates and expends cash. For our consolidated subsidiaries whose functional currency is not the U.S. dollar, we translate their financial statements into the U.S. dollar. We translate assets and liabilities at the exchange rate in effect as of the financial statement date. Gains and losses resulting from this translation are included in accumulated other comprehensive loss (“AOCL”) as a separate component of equity and a proportionate amount of gain or loss is allocated to noncontrolling interest. Certain balance sheet items, primarily equity and capital-related accounts, are reflected at the historical exchange rate. Revenue and expense accounts are translated using an average exchange rate for the period. We and certain of our consolidated subsidiaries may have intercompany and third-party debt that is not denominated in the entity’s functional currency. When the debt is remeasured against the functional currency of the entity, a gain or loss can result. The resulting adjustment is reflected in results of operations, unless it is intercompany debt that is deemed to be long-term in nature and then the adjustments are included in AOCL.
Derivative Instruments	Derivative Instruments During our normal course of business, we may use certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception of a qualifying cash flow hedging relationship, the underlying transaction or transactions, must be, and are expected to remain, probable of occurring in accordance with the Company’s related assertions. The Company recognizes all derivative instruments, including embedded derivatives required to be bifurcated, as assets or liabilities in the Consolidated Balance Sheets at their fair value. Changes in the fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria of hedge accounting are recognized in earnings. For derivatives designated as qualifying cash flow hedging relationships, the change in fair value of the effective portion of the derivatives is recognized in AOCL as a separate component of equity and a proportionate amount of gain or loss is allocated to noncontrolling interest, whereas the change in fair value of the ineffective portion is recognized in earnings. We formally document all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific forecasted transactions as well as recognized obligations or assets in the Consolidated Balance Sheets. We also assess and document, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying forecasted transaction will not occur, we discontinue hedge accounting prospectively and record the appropriate adjustment to earnings based on the current fair value of the derivative. As a matter of policy, we do not use derivatives for trading or speculative purposes. At December 31, 2015, we had $0.7 million of qualifying cash flow hedges recorded at fair value in accrued expenses and other liabilities on our Consolidated Balance Sheet.
Related Party Transactions	Related Party Transactions The Company has a policy which generally requires related party transactions to be approved or ratified by the Audit Committee. As part of our acquisition of entities owning 143 skilled nursing facilities in June 2010, we acquired entities owning skilled nursing facilities with existing leases in place to LHCC Properties, LLC (“LHCC”) a subsidiary of Laurel Healthcare Holdings, Inc. (“Laurel”). A member of the Board of Directors of the Company, together with certain members of his immediate family, beneficially owned approximately 34% of the equity of Laurel. Our lease with LHCC generated approximately $1 million of rental income in both 2014 and 2013. In connection with the Aviv Merger, we acquired operating leases with LHCC for an additional 28 facilities. Together, our leases with LHCC generated approximately $23.0 million of rental income in 2015. In 2016, the Company acquired 10 SNFs from Laurel and an unrelated third party acquired all of the outstanding equity interests of Laurel, including the interests previously owned by the director and his family as further described within Note 22 –Subsequent Events.
Reclassification	Reclassification Certain prior year amounts have been reclassified to conform with the current year presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs Interest—Imputation of Interest In August 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments

SUMMARY OF SIGNIFICANT ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of below and above market lease, future amortization income	We expect net amortization of the in-place leases to increase rental income by: (in millions) 2016 $ 16.0 2017 14.8 2018 13.1 2019 12.0 2020 11.7 Thereafter 34.8 Total $ 102.4
Schedule of summary of net receivables	A summary of our net receivables by type is as follows: December 31, 2015 2014 (in thousands) Contractual receivables $ 8,452 $ 4,799 Effective yield interest receivables 9,028 6,232 Straight-line receivables 175,709 143,652 Lease inducements 10,982 13,571 Allowance (309 ) (78 ) Accounts receivable – net $ 203,862 $ 168,176

PROPERTIES (Tables)

PROPERTIES (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate Properties [Line Items]
Schedule of investment in leased real estate properties	A summary of our investment in leased real estate properties is as follows: December 31, 2015 2014 (in thousands) Buildings $ 5,514,820 $ 2,745,872 Site improvements and equipment 558,222 227,411 Land 670,916 250,502 6,743,958 3,223,785 Less accumulated depreciation (1,019,150 ) (821,712 ) Total $ 5,724,808 $ 2,402,073
Schedule of future minimum estimated contractual rents due for the remainder of the initial terms of the leases	The future minimum estimated contractual rents due for the remainder of the initial terms of the leases are as follows at December 31, 2015: (in thousands) 2016 $ 628,906 2017 638,232 2018 619,251 2019 592,657 2020 600,652 Thereafter 3,198,157 Total $ 6,277,855
Schedule of preliminary fair value of the assets acquired and liabilities assumed	The following table highlights the preliminary fair value of the assets acquired and liabilities assumed on April 1, 2015: (in thousands) Estimated fair value of assets acquired: Land and buildings $ 3,108,078 Investment in direct financing leases 26,823 Mortgages notes receivable 19,246 Other investments 23,619 Total investments 3,177,766 Goodwill 630,404 Accounts receivables and other assets 15,500 Cash acquired 84,858 Fair value of total assets acquired $ 3,908,528 Estimated fair value of liabilities assumed: Accrued expenses and other liabilities $ 221,631 Debt 1,410,637 Fair value of total liabilities assumed 1,632,268 Value of shares and OP units exchanged (a) 2,276,260 Fair value of consideration $ 3,908,528 (a) Includes the fair value of stock compensation plans assumed.
Schedule of pro forma information not indicative of future operations	The following pro forma information is not indicative of future operations. Pro Forma Year Ended December 31, 2015 2014 (in thousands, except per share amounts, unaudited) Pro forma revenues $ 817,642 $ 789,270 Pro forma net income $ 258,927 $ 318,271 Earnings per share – diluted: Net income – as reported $ 1.29 $ 1.74 Net income – pro forma $ 1.33 $ 1.74
2015 Acquisitions and Other
Real Estate Properties [Line Items]
Schedule of acquisitions and other	2015 Acquisitions and Other Number of Facilities Number of Total Land Building & Site Furniture Initial Cash Yield Period SNF ALF State Beds Investment (in millions) (%) Q1 1 - TX 93 $ 6.8 $ 0.1 $ 6.1 $ 0.6 9.50 Q3 6 - NE 530 15.0 1.4 12.1 1.5 9.00 Q3 1 2 WA 136 18.0 2.2 14.9 0.9 8.00 Q3 - 2 GA 125 10.8 1.2 9.0 0.6 7.00 Q3 1 - VA 300 28.5 (1) 1.9 24.2 2.4 9.25 Q3 2 - FL 260 32.0 (4) 1.4 29.0 1.6 9.00 Q3 - - NY - 111.7 (2)(3) 111.7 - - - Q4 1 - AZ 6 0.6 (3) 0.3 0.3 - 9.00 Q4 1 - TX 92 5.3 1.8 3.0 0.5 9.50 Total 13 4 1,542 $ 228.7 $ 122.0 $ 98.6 $ 8.1 (1) In July 2015, we leased the facility to a new operator with an initial lease term of 10 years. (2) On July 24, 2015, we purchased five buildings located in New York City, New York for approximately $111.7 million. We and our operator plan to construct a 201,000 square-foot assisted living and memory care facility. The properties were added to the operator’s existing master lease. The lease provides for a 5% annual cash yield on the land during the construction phase. Upon issuance of a certification of occupancy, the annual cash yield will increase to 7% in year one and 8% in year two with annual 2.5% annual escalators thereafter. (3) Accounted for as an asset acquisition. (4) The Company estimated the fair value of the assets acquired on the acquisition date based on certain valuation analyses that have yet to be finalized, and accordingly, the assets acquired, as detailed, are subject to adjustment one the analyses are completed.
2014 Acquisitions and Other
Real Estate Properties [Line Items]
Schedule of acquisitions and other	2014 Acquisitions and Other Number of Facilities Number of Total Land Building & Site Improvements Furniture & Fixtures Initial Yield Period SNF ALF State Operating Beds Investment (in millions) (%) Q1 - 1 AZ 90 $ 4.7 $ 0.4 $ 3.9 $ 0.4 9.75 Q2/Q3 3 - GA, SC 345 34.6 0.9 32.1 1.6 9.50 Q3 1 - TX 125 8.2 0.4 7.4 0.4 9.75 Q4 - 4 PA,OR,AR 371 84.2 5.1 76.7 2.4 6.00 4 5 931 $ 131.7 $ 6.8 $ 120.1 $ 4.8
2013 Acquisitions and Other
Real Estate Properties [Line Items]
Schedule of acquisitions and other	2013 Acquisitions and Other Number of Facilities Number of Total Land Building & Site Furniture Initial Cash Period SNF ALF State Beds Investment (in millions) (%) Q4 - 1 FL 97 $ 10.3 $ 0.6 $ 9.0 $ 0.7 7.25 Q4 4 - IN 384 25.2 (1) 0.7 21.8 2.7 9.70 Total 4 1 481 $ 35.5 $ 1.3 $ 30.8 $ 3.4 (1) On October 31, 2013, we recorded approximately $3.0 million to below market leases as a result of the transaction for a total investment of $25.2 million.

DIRECT FINANCING LEASES (Tables

DIRECT FINANCING LEASES (Tables)	12 Months Ended
	Dec. 31, 2015
Leases, Capital [Abstract]
Schedule of components of investment in direct financing leases	The components of investment in direct financing leases consist of the following: December 31, 2015 2014 (in thousands) Minimum lease payments receivable $ 4,320,876 $ 4,244,067 Less unearned income (3,733,175 ) (3,704,835 ) Investment in direct financing leases - net $ 587,701 $ 539,232 Properties subject to direct financing leases 59 56
Schedule Of Investment In The Direct Financing Leases By Operator	The following table summarizes the investment in the direct financing leases by operator: December 31, 2015 2014 (in thousands) New Ark $ 560,308 $ 539,232 Reliance Health Care Management, Inc. 15,509 - Sun Mar Healthcare 11,381 - Markleysburg Healthcare Investors, LP 503 - Investment in direct financing leases - net $ 587,701 $ 539,232
Schedule of minimum rents due under direct financing leases	As of December 31, 2015, the following minimum rents are due under our direct financing leases for the next five years (in thousands): Year 1 Year 2 Year 3 Year 4 Year 5 $50,141 $50,647 $51,905 $53,180 $54,475

MORTGAGE NOTES RECEIVABLE (Tabl

MORTGAGE NOTES RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2015
Mortgage Notes Receivable Investments [Abstract]
Schedule of mortgage notes receivable, net of allowances	The outstanding principal amounts of mortgage notes receivable, net of allowances, were as follows: December 31, 2015 2014 (in thousands) Mortgage note due 2023; interest at 11.00% $ 69,928 $ 69,928 Mortgage note due 2024; interest at 9.64% 112,500 112,500 Mortgage note due 2029; interest at 9.23% 413,399 414,550 Other mortgage notes outstanding (1) 83,968 51,101 Mortgage notes receivable, gross 679,795 648,079 Allowance for loss on mortgage notes receivable — — Total mortgages — net $ 679,795 $ 648,079 (1) Other mortgage notes outstanding have stated interest rates ranging from 8.35% to 12.0% and maturity dates through 2046.

OTHER INVESTMENTS (Tables)

OTHER INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Schedule of other investments	A summary of our other investments is as follows: December 31, 2015 2014 (in thousands) Other investment note due 2015; interest at 10.00% $ — $ 5,439 Other investment note due 2020; interest at 10.00% 23,000 20,000 Other investment note due 2023; interest at 9.00% 5,470 — Other investment note due 2030; interest at 6.66% 26,966 — Other investment notes outstanding (1) 36,823 23,513 Other investments, gross 92,259 48,952 Allowance for loss on other investments (2,960) — Total other investments $ 89,299 $ 48,952 (1) Other investment notes have maturity dates through 2027 and interest rates ranging from 6.50% to 12.0%.

ASSETS HELD FOR SALE (Tables)

ASSETS HELD FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Schedule of properties held-for-sale	Properties Held-For-Sale Number of Net Book Value December 31, 2013 (1) 4 $ 1,356 Properties sold (2) (3 ) (686 ) Properties added 3 12,122 December 31, 2014 (1) 4 $ 12,792 Properties sold/other (3) (5 ) (16,877 ) Properties added (4) 4 10,684 December 31, 2015 (5) 3 $ 6,599 (1) Includes one parcel of land and three facilities. (2) In 2014, we sold these facilities for approximately $2.8 million in net proceeds recognizing a gain on sale of approximately $2.0 million. (3) In 2015, the parcel of land was reclassified to closed facilities. In addition, we sold four facilities for approximately $25.5 million in net proceeds recognizing a gain on sale of approximately $8.8 million. (4) In 2015, we recorded a $3.0 million impairment charge on a SNF in New Mexico to reduce its net book value to its estimated fair value less costs to sell. (5) Includes three facilities.

INTANGIBLES (Tables)

INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangibles	The following is a summary of our intangibles as of December 31, 2015 and 2014: December 31, 2015 2014 (in thousands) Assets: Goodwill $ 645,683 $ — Above market lease intangibles $ 21,901 14,576 In-place lease intangibles 386 — Accumulated amortization (14,162 ) (12,166 ) Net intangible assets $ 8,125 $ 2,410 Liabilities: Below market lease intangibles $ 165,331 $ 59,785 Accumulated amortization (55,131 ) (39,352 ) Net intangible liabilities $ 110,200 $ 20,433
Schedule of reconciliation of goodwill	The following is a reconciliation of our goodwill as of December 31 2015: (in thousands) Balance as of December 31, 2014 $ — Balance as of March 31, 2015 — Add: Aviv Merger 526,807 Add: acquisition of Care Homes 15,701 Add: foreign currency translation 585 Balance as of June 30, 2015 543,093 Add: additional valuation adjustments related to preliminary valuations (see Note 3 – Aviv Merger) 12,261 Less: foreign currency translation (605 ) Balance as of September 30, 2015 554,749 Add: additional valuation adjustments related to preliminary valuations (see Note 3 – Aviv Merger) 91,336 Add: additional valuation adjustments related to preliminary valuations (see Note 3 – Care Homes acquisition) 5 Less: foreign currency translation (407 ) Balance as of December 31, 2015 $ 645,683

BORROWING ARRANGEMENTS (Tables)

BORROWING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of long-term borrowings	The following is a summary of our long-term borrowings: Rate as of December 31, December 31, Maturity 2015 2015 2014 (in thousands) Secured borrowings: GE term loan 2019 4.00 % $ 180,000 $ — HUD mortgages assumed June 2010 — — — 120,665 HUD mortgages assumed October 2011 — — — 24,441 HUD mortgages assumed December 2011 (1) 2044 3.06 % 56,204 57,416 HUD mortgages assumed December 2012 — — — 35,358 236,204 237,880 Premium – net — 13,574 Total secured borrowings 236,204 251,454 Unsecured borrowings: Revolving line of credit 2018 1.72 % 230,000 85,000 Tranche A-1 term loan 2019 1.92 % 200,000 200,000 Tranche A-2 term loan 2017 1.77 % 200,000 — Omega OP term loan 2017 1.77 % 100,000 — 2015 term loan 2022 2.14 % 250,000 — 980,000 285,000 2020 notes — — — 200,000 2022 notes — — — 575,000 2024 notes 2024 5.875 % 400,000 400,000 2024 notes 2024 4.95 % 400,000 400,000 2025 notes 2025 4.50 % 250,000 250,000 2026 notes 2026 5.25 % 600,000 — 2027 notes 2027 4.50 % 700,000 — Subordinated debt 2021 9.00 % 20,000 20,000 2,370,000 1,845,000 Discount - net (17,118 ) (2,951 ) Total unsecured borrowings 3,332,882 2,127,049 Total – net $ 3,569,086 $ 2,378,503 (1) Reflects the weighted average annual contractual interest rate on the mortgages at December 31, 2015 excluding a third-party administration fee of approximately 0.5%. Secured by real estate assets with a net carrying value of $95.4 million.
Schedule of principal payments, excluding the premium/discount and the aggregate due thereafter	The required principal payments, excluding the premium or discount on our secured and unsecured borrowings, for each of the five years following December 31, 2015 and the aggregate due thereafter are set forth below: (in thousands) 2016 $ 1,249 2017 301,288 2018 231,328 2019 381,370 2020 1,412 Thereafter 2,669,557 Totals $ 3,586,204
Schedule of refinancing related costs	The following summarizes the refinancing related costs: Year Ended December 31, 2015 2014 2013 (in thousands) Write off of deferred financing cost and unamortized premiums due to refinancing (1) (2)(3) $ (7,134 ) $ 1,180 $ (11,278 ) Prepayment and other costs associated with refinancing (4) 35,971 1,861 166 Total debt extinguishment costs (gain) $ 28,837 $ 3,041 $ (11,112 ) (1) In 2015, we recorded: (a) $4.2 million of write-offs of unamortized deferred financing costs and discount associated with the early redemption of our 2020 Notes, (b) $1.9 million in net write-offs associated with unamortized deferred financing costs and original issuance premiums/discounts associated with the early redemption of our 2022 Notes, offset by (c) $13.2 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in March, April and December 2015. (2) In 2014, we recorded: (a) $2.6 million write-off of deferred financing costs associated with the termination of the 2012 Credit Facilities, (b) $2.0 million write-off of deferred financing costs associated with the termination of our 2013 Term Loan Facility offset by (c) $3.5 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in September and December 2014. (3) In 2013, we recorded an $11.3 million interest refinancing gain associated with the write-off of the unamortized premium for debt assumed on 11 HUD mortgage loans that we paid off in May 2013. (4) In 2015, we made: (a) $7.5 million of prepayment penalties associated with the early redemption of our 2020 Notes, (b) $19.4 million of prepayment penalties associated with the early redemption of our 2022 Notes and (c) $9.1 million of prepayment penalties associated with 24 HUD mortgage loans that we paid off in March, April and December 2015. In 2014, we made prepayment penalties of $1.9 million associated with five HUD mortgage loans that we paid off in September and October 2014. In 2013, we made prepayment penalties of $0.2 million associated with 11 HUD mortgage loans that we paid off in May 2013.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of the carrying amounts and fair values of financial instruments	At December 31, 2015 and 2014, the carrying amounts and fair values of our financial instruments were as follows: 2015 2014 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Assets: Cash and cash equivalents $ 5,424 $ 5,424 $ 4,489 $ 4,489 Restricted cash 14,607 14,607 29,076 29,076 Investments in direct financing leases – net 587,701 584,358 539,232 539,232 Mortgage notes receivable – net 679,795 687,130 648,079 642,626 Other investments – net 89,299 90,745 48,952 49,513 Totals $ 1,376,826 $ 1,382,264 $ 1,269,828 $ 1,264,936 Liabilities: Revolving line of credit $ 230,000 $ 230,000 $ 85,000 $ 85,000 Tranche A-1 term loan 200,000 200,000 200,000 200,000 Tranche A-2 term loan 200,000 200,000 — — Omega OP term loan 100,000 100,000 — — 2015 term loan 250,000 250,000 — — 7.50% notes due 2020 – net — — 198,235 264,269 6.75% notes due 2022 – net — — 580,410 677,851 5.875% notes due 2024 – net 400,000 429,956 400,000 449,242 4.95% notes due 2024 – net 395,333 403,064 394,768 410,358 4.50% notes due 2025 – net 248,099 242,532 247,889 244,053 5.25% notes due 2026 – net 598,343 612,760 — — 4.50% notes due 2027 – net 690,494 667,651 — — GE term loan due 2019 180,000 180,000 — — HUD debt – net 56,204 52,678 251,454 266,434 Subordinated debt – net 20,613 24,366 20,747 26,434 Totals $ 3,569,086 $ 3,593,007 $ 2,378,503 $ 2,623,641

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Schedule of activity in restricted stock and RSUs	The following table summarizes the activity in restricted stock and RSUs for the years ended December 31, 2013, 2014 and 2015: Number of Weighted - Compensation Cost (1) (in millions) Non-vested at December 31, 2012 459,502 $ 22.33 Granted during 2013 241,699 29.87 $ 7.2 Vested during 2013 (444,003 ) 22.38 Non-vested at December 31, 2013 257,198 $ 29.32 Granted during 2014 143,637 30.70 $ 4.4 Vested during 2014 (90,901 ) 28.87 Non-vested at December 31, 2014 309,934 $ 30.08 Granted during 2015 232,533 39.25 $ 9.1 Assumed in Aviv Merger (2) 38,268 23.50 $ 0.9 Cancelled during 2015 (61,911 ) 33.77 Vested during 2015 (106,146 ) 28.72 Non-vested at December 31, 2015 412,678 $ 34.44 (1) Total compensation cost to be recognized on the awards based on grant date fair value, which is based on the market price of the Company’s common stock on the date of grant. (2) Omega stock price on April 1, 2015 was $40.74. The weighted average stock price indicated in the table above represents the expense per unit that we will record related to the assumed Aviv RSUs.
Schedule of assumptions used for estimating fair value of stock awards using Monte-Carlo model	The following are the significant assumptions used in estimating the value of the awards for grants made on the following dates: January 1, 2012 January 1, 2013 December 31, 2013 and January 1, 2014 March 31, 2015 April 1, 2015 July 31, 2015 Closing price on date of grant $ 19.35 $ 23.85 $ 29.80 $ 40.57 $ 40.74 $ 36.26 Dividend yield 8.27 % 4.24% 6.44% 5.23% 5.20% 6.07% Risk free interest rate at time of grant 0.03% to 0.35% 0.05% to 0.43% 0.04% to 0.86% 0.10% to 0.94% 0.09% to 0.91% 0.13% to 1.08% Expected volatility 35.64% to 38.53% 15.56% to 23.83% 24.16% to 25.86% 20.06% to 21.09% 20.06% to 21.08% 20.06% to 20.21%
Schedule of activity in PRSU	The following table summarizes the activity in PRSUs for the years ended December 31, 2013, 2014 and 2015: Number of Weighted- Average Grant- Date Fair Value per Share Compensation Cost (1) (in millions) Non-vested at December 31, 2012 372,735 $ 11.36 Granted during 2013 665,289 10.36 $ 6.9 Vested during 2013 (2) - - Non-vested at December 31, 2013 1,038,024 $ 10.72 Granted during 2014 309,168 11.46 $ 3.5 Vested during 2014 (2) (496,979 ) 10.75 Non-vested at December 31, 2014 850,213 $ 10.97 Granted during 2015 537,923 18.51 $ 10.0 Cancelled during 2015 (165,570 ) 14.11 Forfeited during 2015 (128,073 ) 12.04 Vested during 2015 (2) (181,406 ) 10.10 Non-vested at December 31, 2015 913,087 $ 14.87 (1) Total compensation cost to be recognized on the awards was based on the grant date fair value or the modification date fair value. (2) PRSUs are shown as vesting in the year that the Compensation Committee determines the level of achievement of the applicable performance measures.
Schedule of total unrecognized compensation cost associated with outstanding restricted stock, restricted stock units and PRSU awards to employees	The following table summarizes our total unrecognized compensation cost as of December 31, 2015 associated with restricted stock, restricted stock units, PRSU awards, and LTIP Unit awards to employees: Grant Shares/ Units Grant Date Total Compensation Cost (in millions) (1) Weighted Unrecognized Performance Vesting RSUs 2013 RSU 2013 195,822 $ 29.80 $ 5.8 36 $ 1.9 N/A 12/31/14 - 12/31/16 2014 RSU 2014 106,778 29.80 3.2 36 1.1 N/A 12/31/2016 3/31/15 RSU 2015 109,585 40.57 4.4 33 3.2 N/A 12/31/2017 4/1/15 RSU 2015 39,914 40.74 1.6 33 1.2 N/A 12/31/2017 Assumed Aviv RSU 2015 10,644 12.36 0.1 9 - N/A 12/31/2015 Assumed Aviv RSU 2015 19,825 24.92 0.5 21 0.3 N/A 12/31/2016 Assumed Aviv RSU 2015 7,799 35.08 0.3 33 0.2 N/A 12/31/15-12/31/17 7/31/15 RSU 2015 23,902 36.26 0.9 5 - N/A 12/31/2015 Restricted Stock Units Total 514,269 $ 32.78 $ 16.8 $ 7.9 TSR PRSUs and LTIP Units 2015 Transition TSR (2) 2013 67,885 7.47 0.5 24 - 12/31/2013-12/31/2015 12/31/2015 2016 Transition TSR 2013 101,591 8.67 0.9 36 0.3 12/31/2013-12/31/2016 12/31/2016 2016 TSR 2014 135,634 8.67 1.2 48 0.6 1/1/2014-12/31/2016 Quarterly in 2017 3/31/15 2017 LTIP Units 2015 137,249 14.66 2.0 45 1.6 1/1/2015-12/31/2017 Quarterly in 2018 4/1/2015 2017 LTIP Units 2015 54,151 14.80 0.8 45 0.6 1/1/2015-12/31/2017 Quarterly in 2018 7/31/15 2015 Transition TSR (3) 2015 9,484 27.20 0.3 5 - 12/31/2013-12/31/2015 12/31/2015 7/31/15 2016 Transition TSR 2015 22,091 18.51 0.4 5 - 12/31/2013-12/31/2016 12/31/2016 7/31/15 2017 LTIP Units 2015 5,823 8.78 0.1 5 - 1/1/2015-12/31/2017 12/31/2017 TSR PRSUs & LTIP Total 533,908 $ 11.42 $ 6.2 $ 3.1 Relative TSR PRSUs 2015 Transition Relative TSR (4) 2013 67,884 13.05 0.9 24 - 12/31/2013-12/31/2015 12/31/2015 2016 Transition Relative TSR 2013 101,588 14.24 1.4 36 0.5 12/31/2013-12/31/2016 12/31/2016 2016 Relative TSR 2014 135,634 14.24 1.9 48 1.0 1/1/2014-12/31/2016 Quarterly in 2017 3/31/15 2017 Relative TSR 2015 137,249 22.50 3.1 45 2.5 1/1/2015-12/31/2017 Quarterly in 2018 4/1/2015 2017 Relative TSR 2015 54,151 22.91 1.2 45 1.0 1/1/2015-12/31/2017 Quarterly in 2018 7/31/15 2015 Relative TSR (5) 2015 9,484 18.85 0.2 5 - 1/1/2014-12/31/2015 12/31/2015 7/31/15 2016 Relative TSR 2015 22,100 19.60 0.4 5 - 1/1/2014-12/31/2016 12/31/2016 7/31/15 2017 Relative TSR 2015 5,826 17.74 0.1 5 - 1/1/2015-12/31/2017 12/31/2017 Relative TSR PRSUs Total 533,916 $ 17.44 $ 9.2 $ 5.0 Grand Total 1,582,093 $ 20.39 $ 32.2 $ 16.0 (1) Total compensation costs are net of shares cancelled. (2) The shares/unit information includes 30,872 shares/units that were determined to be forfeited because the performance goal was not achieved. (3) The shares/unit information includes 4,231 shares/units that were determined to be forfeited because the performance goal was not achieved. (4) The shares/unit information includes 67,884 shares/units that were determined to be forfeited because the performance goal was not achieved. (5) The shares/unit information includes 9,484 shares/units that were determined to be forfeited because the performance goal was not achieved.

DIVIDENDS (Tables)

DIVIDENDS (Tables)	12 Months Ended
	Dec. 31, 2015
Dividends [Abstract]
Schedule of per share distribution for income tax purpose	Per share distributions by our Company were characterized in the following manner for income tax purposes (unaudited): Year Ended December 31, 2015 2014 2013 Common Ordinary income $ 1.133 $ 1.834 $ 1.536 Return of capital 1.047 0.186 0.324 Total dividends paid $ 2.180 $ 2.020 $ 1.860

SUMMARY OF QUARTERLY RESULTS 44

SUMMARY OF QUARTERLY RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	The following summarizes quarterly results of operations for the years ended December 31, 2015 and 2014. March 31 June 30 September 30 December 31 (in thousands, except per share amounts) 2015 Revenues $ 133,420 $ 197,711 $ 201,974 $ 210,512 Net income 43,052 43,466 83,254 63,543 Net income available to common stockholders 43,052 41,428 79,402 60,642 Net income available to common per share: Basic $ 0.32 $ 0.23 $ 0.43 $ 0.32 Net income per share: Diluted $ 0.32 $ 0.22 $ 0.43 $ 0.32 Cash dividends paid on common stock $ 0.53 $ 0.54 $ 0.55 $ 0.56 2014 Revenues $ 121,001 $ 121,800 $ 130,665 $ 131,321 Net income 55,829 46,817 61,713 56,990 Net income available to common stockholders 55,829 46,817 61,713 56,990 Net income available to common per share: Basic $ 0.45 $ 0.37 $ 0.48 $ 0.45 Net income per share: Diluted $ 0.45 $ 0.37 $ 0.48 $ 0.44 Cash dividends paid on common stock $ 0.49 $ 0.50 $ 0.51 $ 0.52

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	The following tables set forth the computation of basic and diluted earnings per share: Year Ended December 31, 2015 2014 2013 (in thousands, except per share amounts) Numerator: Net income $ 233,315 $ 221,349 $ 172,521 Less: Net income attributable to noncontrolling interests (8,791 ) — — Net income available to common stockholders $ 224,524 $ 221,349 $ 172,521 Denominator: Denominator for basic earnings per share 172,242 126,550 117,257 Effect of dilutive securities: Common stock equivalents 1,539 744 843 Noncontrolling interest – OP units 6,727 — — Denominator for diluted earnings per share 180,508 127,294 118,100 Earnings per share - basic: Net income available to common stockholders $ 1.30 $ 1.75 $ 1.47 Earnings per share - diluted: Net income $ 1.29 $ 1.74 $ 1.46

CONSOLIDATING FINANCIAL STATE46

CONSOLIDATING FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of consolidating balance sheets	OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING BALANCE SHEET (in thousands, except per share amounts) December 31, 2015 Issuer & Non – Elimination Consolidated ASSETS Real estate properties Land and buildings $ 6,152,779 $ 591,179 $ — $ 6,743,958 Less accumulated depreciation (984,947 ) (34,203 ) — (1,019,150 ) Real estate properties – net 5,167,832 556,976 — 5,724,808 Investment in direct financing leases 587,701 — — 587,701 Mortgage notes receivable – net 679,795 — — 679,795 6,435,328 556,976 — 6,992,304 Other investments – net 89,299 — — 89,299 6,524,627 556,976 — 7,081,603 Assets held for sale – net 6,599 — — 6,599 Total investments 6,531,226 556,976 — 7,088,202 Cash and cash equivalents 1,592 3,832 — 5,424 Restricted cash 7,068 7,539 — 14,607 Accounts receivable – net 196,107 7,755 — 203,862 Goodwill 630,404 15,279 — 645,683 Investment in affiliates 340,850 — (340,850 ) — Other assets 54,055 7,176 — 61,231 Total assets $ 7,761,302 $ 598,557 $ (340,850 ) $ 8,019,009 LIABILITIES AND EQUITY Revolving line of credit $ 230,000 $ — $ — $ 230,000 Term loan 750,000 — — 750,000 Secured borrowings — 361,460 (125,256 ) 236,204 Unsecured borrowings – net 2,352,882 — — 2,352,882 Accrued expenses and other liabilities 326,815 6,891 — 333,706 Deferred income taxes — 15,352 — 15,352 Intercompany payable 740 36,299 (37,039 ) — Total liabilities 3,660,437 420,002 (162,295 ) 3,918,144 Stockholders’ equity: Common stock 18,740 — — 18,740 Equity investment in affiliates — 156,507 (156,507 ) — Common stock – additional paid-in capital 4,609,474 — — 4,609,474 Cumulative net earnings 1,372,522 21,971 (21,971 ) 1,372,522 Cumulative dividends paid (2,254,038 ) — — (2,254,038 ) Accumulated other comprehensive income (loss) (8,712 ) 77 (77 ) (8,712 ) Total stockholders’ equity 3,737,986 178,555 (178,555 ) 3,737,986 Noncontrolling interest 362,879 — — 362,879 Total equity 4,100,865 178,555 (178,555 ) 4,100,865 Total liabilities and equity $ 7,761,302 $ 598,557 $ (340,850 ) $ 8,019,009 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING BALANCE SHEET (in thousands, except per share amounts) December 31, 2014 Issuer & Non – Elimination Consolidated ASSETS Real estate properties Land and buildings $ 3,108,597 $ 115,188 $ — $ 3,223,785 Less accumulated depreciation (805,679 ) (16,033 ) — (821,712 ) Real estate properties – net 2,302,918 99,155 — 2,402,073 Investments in direct financing leases 539,232 — — 539,232 Mortgage notes receivable 648,079 — — 648,079 3,490,229 99,155 — 3,589,384 Other investments 48,952 — — 48,952 3,539,181 99,155 — 3,638,336 Assets held for sale – net 12,792 — — 12,792 Total investments 3,551,973 99,155 — 3,651,128 Cash and cash equivalents 4,489 — — 4,489 Restricted cash 21,943 7,133 — 29,076 Accounts receivable – net 163,610 4,566 — 168,176 Investment in affiliates 28,687 — (28,687 ) — Other assets 60,820 7,956 — 68,776 Total assets $ 3,831,522 $ 118,810 $ (28,687 ) $ 3,921,645 LIABILITIES AND EQUITY Revolving line of credit $ 85,000 $ — $ — $ 85,000 Term loan 200,000 — — 200,000 Secured borrowings – net 167,379 84,075 — 251,454 Unsecured borrowings – net 1,842,049 — — 1,842,049 Accrued expenses and other liabilities 135,767 6,048 — 141,815 Intercompany payable — 17,096 (17,096 ) — Total liabilities 2,430,195 107,219 (17,096 ) 2,520,318 Equity: Common stock 12,761 — — 12,761 Common stock – additional paid-in capital 2,136,234 — — 2,136,234 Cumulative net earnings 1,147,998 11,591 (11,591 ) 1,147,998 Cumulative dividends paid (1,895,666 ) — — (1,895,666 ) Total stockholders’ equity 1,401,327 11,591 (11,591 ) 1,401,327 Total liabilities and equity $ 3,831,522 $ 118,810 $ (28,687 ) $ 3,921,645
Schedule of consolidating statement of operations	OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (in thousands, except per share amounts) Year Ended December 31, 2015 Issuer & Non – Elimination Consolidated Revenue Rental income $ 560,211 $ 45,780 $ - $ 605,991 Income from direct financing leases 59,936 - - 59,936 Mortgage interest income 68,910 - - 68,910 Other investment income – net 8,780 - - 8,780 Total operating revenues 697,837 45,780 - 743,617 Expenses Depreciation and amortization 192,375 18,328 - 210,703 General and administrative 38,140 428 - 38,568 Acquisition costs 55,012 2,513 - 57,525 Impairment loss on real estate properties 17,681 - - 17,681 Provisions for uncollectible mortgages, notes and accounts receivable 5,966 1,905 - 7,871 Total operating expenses 309,174 23,174 - 332,348 Income before other income and expense 388,663 22,606 - 411,269 Other income (expense): Interest income 269 16 - 285 Interest expense (134,478 ) (12,903 ) - (147,381 ) Interest – amortization of deferred financing costs (6,969 ) (21 ) - (6,990 ) Interest – refinancing costs (29,714 ) 877 - (28,837 ) Realized loss on foreign exchange (173 ) - - (173 ) Equity in earnings 10,380 - (10,380 ) - Total other expense (160,685 ) (12,031 ) (10,380 ) (183,096 ) Income before gain on assets sold 227,978 10,575 (10,380 ) 228,173 Gain on assets sold - net 6,353 - - 6,353 Income from continuing operations before income taxes 234,331 10,575 (10,380 ) 234,526 Income taxes (1,016 ) (195 ) - (1,211 ) Net income 233,315 10,380 (10,380 ) 233,315 Net income attributable to noncontrolling interest (8,791 ) - - (8,791 ) Net income available to common stockholders $ 224,524 $ 10,380 $ (10,380 ) $ 224,524 Net income $ 233,315 $ 10,380 $ (10,380 ) $ 233,315 Other comprehensive loss – foreign currency translation (8,413 ) - - (8,413 ) Other comprehensive loss – cash flow hedges (718 ) - - (718 ) Total comprehensive income 224,184 10,380 (10,380 ) 224,184 Add: comprehensive income attributable to noncontrolling interest 419 - - 419 Comprehensive income attributable to common stockholders $ 224,603 $ 10,380 $ (10,380 ) $ 224,603 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING STATEMENT OF OPERATIONS (in thousands, except per share amounts) Year Ended December 31, 2014 Issuer & Non – Elimination Consolidated Revenue Rental income $ 375,279 $ 13,164 $ - $ 388,443 Income from direct financing leases 56,719 - - 56,719 Mortgage interest income 53,007 - - 53,007 Other investment income – net 6,618 - - 6,618 Total operating revenues 491,623 13,164 - 504,787 Expenses Depreciation and amortization 117,976 5,281 - 123,257 General and administrative 25,759 129 - 25,888 Acquisition costs 3,948 - - 3,948 Impairment loss on real estate properties 3,660 - - 3,660 Provisions for uncollectible mortgages, notes and accounts receivable 2,723 - - 2,723 Total operating expenses 154,066 5,410 - 159,476 Income before other income and expense 337,557 7,754 - 345,311 Other income (expense): Interest income 29 15 - 44 Interest expense (116,075 ) (3,294 ) - (119,369 ) Interest – amortization of deferred financing costs (4,437 ) (22 ) - (4,459 ) Interest – refinancing costs (3,041 ) - - (3,041 ) Equity in earnings 4,453 - (4,453 ) - Total other expense (119,071 ) (3,301 ) (4,453 ) (126,825 ) Income before gain on assets sold 218,486 4,453 (4,453 ) 218,486 Gain on assets sold - net 2,863 - - 2,863 Net income available to common stockholders $ 221,349 $ 4,453 $ (4,453 ) $ 221,349 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATING STATEMENT OF OPERATIONS (in thousands, except per share amounts) Year Ended December 31, 2013 Issuer & Non – Elimination Consolidated Revenue Rental income $ 362,033 $ 13,102 $ - $ 375,135 Income from direct financing leases 5,203 - - 5,203 Mortgage interest income 29,351 - - 29,351 Other investment income – net 9,025 - - 9,025 Total operating revenues 405,612 13,102 - 418,714 Expenses Depreciation and amortization 123,443 5,203 - 128,646 General and administrative 21,466 122 - 21,588 Acquisition costs 245 - - 245 Impairment loss on real estate properties 415 - - 415 Provisions for uncollectible mortgages, notes and accounts receivable 2,141 - - 2,141 Total operating expenses 147,710 5,325 - 153,035 Income before other income and expense 257,902 7,777 - 265,679 Other income (expense): Interest income 26 15 - 41 Interest expense (96,673 ) (3,708 ) - (100,381 ) Interest – amortization of deferred financing costs (2,763 ) (16 ) - (2,779 ) Interest – refinancing gain 11,112 - - 11,112 Equity in earnings 4,068 - (4,068 ) - Total other expense (84,230 ) (3,709 ) (4,068 ) (92,007 ) Income before gain (loss) on assets sold 173,672 4,068 (4,068 ) 173,672 Loss on assets sold - net (1,151 ) - - (1,151 ) Net income available to common stockholders $ 172,521 $ 4,068 $ (4,068 ) $ 172,521
Schedule of consolidating statement of cash flows	OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands ) Year Ended December 31, 2015 Issuer & Subsidiary Non-Guarantor Elimination Consolidated Cash flows from operating activities Net income $ 233,315 $ 10,380 $ (10,380 ) $ 233,315 Adjustment to reconcile net income to net cash provided by operating activities: Depreciation and amortization 192,375 18,328 — 210,703 Provision for impairment on real estate properties 17,681 — — 17,681 Provision for uncollectible mortgages, notes and accounts receivable 5,966 1,905 — 7,871 Amortization of deferred financing and refinancing costs 36,683 (856 ) — 35,827 Accretion of direct financing leases (11,007 ) — — (11,007 ) Stock-based compensation 11,133 — — 11,133 Gain on assets sold – net (6,353 ) — — (6,353 ) Amortization of acquired in-place leases - net (13,846 ) — — (13,846 ) Change in operating assets and liabilities – net of amounts assumed/acquired: Accounts receivable, net 248 — — 248 Straight-line rent receivables (32,815 ) (3,242 ) — (36,057 ) Lease inducements 994 — — 994 Effective yield receivable on mortgage notes (4,065 ) — — (4,065 ) Other operating assets and liabilities (9,654 ) 16,715 10,380 17,441 Net cash provided by operating activities 420,655 43,230 — 463,885 Cash flows from investing activities Acquisition of real estate – net of liabilities assumed and escrows acquired (116,698 ) (177,484 ) — (294,182 ) Cash acquired in merger 84,858 — — 84,858 Investment in construction in progress (164,226 ) — — (164,226 ) Investment in U.K. subsidiary (165,760 ) 165,760 — — Investment in direct financing leases (6,793 ) — — (6,793 ) Placement of mortgage loans (14,042 ) — — (14,042 ) Proceeds from sale of real estate investments 41,543 — — 41,543 Capital improvements to real estate investments (24,599 ) (1,798 ) — (26,397 ) Proceeds from other investments 45,871 — — 45,871 Investments in other investments (65,402 ) — — (65,402 ) Collection of mortgage principal 1,359 — — 1,359 Net cash used in investing activities (383,889 ) (13,522 ) — (397,411 ) Cash flows from financing activities Proceeds from credit facility borrowings 1,826,000 — — 1,826,000 Payments on credit facility borrowings (1,681,000 ) — — (1,681,000 ) Receipts of other long-term borrowings 1,838,124 — — 1,838,124 Payments of other long-term borrowings (2,161,661 ) (25,653 ) — (2,187,314 ) Payments of financing related costs (54,721 ) — — (54,721 ) Receipts from dividend reinvestment plan 150,847 — — 150,847 Payments for exercised options and restricted stock – net (26,706 ) — — (26,706 ) Net proceeds from issuance of common stock 439,322 — — 439,322 Dividends paid (358,232 ) — — (358,232 ) Distributions to OP Unit holders (11,636 ) — — (11,636 ) Net cash used in financing activities (39,663 ) (25,653 ) — (65,316 ) (Decrease) increase in cash and cash equivalents (2,897 ) 4,055 — 1,158 Effect of foreign currency translation on cash and cash equivalents — (223 ) — (223 ) Cash and cash equivalents at beginning of period 4,489 — — 4,489 Cash and cash equivalents at end of period $ 1,592 $ 3,832 $ — $ 5,424 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands ) Year Ended December 31, 2014 Issuer & Subsidiary Non-Guarantor Elimination Consolidated Cash flows from operating activities Net income $ 221,349 $ 4,453 $ (4,453 ) $ 221,349 Adjustment to reconcile net income to net cash provided by operating activities: Depreciation and amortization 117,976 5,281 — 123,257 Provision for impairment on real estate properties 3,660 — — 3,660 Provision for uncollectible mortgages, notes and accounts receivable 2,723 — — 2,723 Amortization of deferred financing and refinancing costs 7,479 21 — 7,500 Accretion of direct financing leases (9,787 ) — — (9,787 ) Stock-based compensation 8,592 — — 8,592 Gain on assets sold – net (2,863 ) — — (2,863 ) Amortization of acquired in-place leases - net (4,986 ) — — (4,986 ) Change in operating assets and liabilities – net of amounts assumed/acquired: Accounts receivable, net (2,264 ) — — (2,264 ) Straight-line rent receivables (19,750 ) (1,206 ) — (20,956 ) Lease inducements 2,656 — — 2,656 Effective yield receivable on mortgage notes (2,878 ) — — (2,878 ) Other operating assets and liabilities 11,432 (4,348 ) 4,453 11,537 Net cash provided by operating activities 333,339 4,201 — 337,540 Cash flows from investing activities Acquisition of real estate – net of liabilities assumed and escrows acquired (131,689 ) — — (131,689 ) Placement of mortgage loans (529,548 ) — — (529,548 ) Proceeds from sale of real estate investments 4,077 — — 4,077 Capital improvements to real estate investments (15,526 ) (2,391 ) — (17,917 ) Proceeds from other investments 13,589 — — 13,589 Investments in other investments (9,441 ) — — (9,441 ) Collection of mortgage principal 122,984 — — 122,984 Net cash used in investing activities (545,554 ) (2,391 ) — (547,945 ) Cash flows from financing activities Proceeds from credit facility borrowings 900,000 — — 900,000 Payments on credit facility borrowings (1,141,000 ) — — (1,141,000 ) Receipts of other long-term borrowings 842,148 — — 842,148 Payments of other long-term borrowings (240,734 ) (1,810 ) — (242,544 ) Payments of financing related costs (17,716 ) — — (17,716 ) Receipts from dividend reinvestment plan 71,487 — — 71,487 Payments for exercised options and restricted stock – net (3,577 ) — — (3,577 ) Net proceeds from issuance of common stock 61,981 — — 61,981 Dividends paid (258,501 ) — — (258,501 ) Net cash provided by (used in) financing activities 214,088 (1,810 ) — 212,278 Increase in cash and cash equivalents 1,873 — — 1,873 Cash and cash equivalents at beginning of period 2,616 — — 2,616 Cash and cash equivalents at end of period $ 4,489 $ — $ — $ 4,489 OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands ) Year Ended December 31, 2013 Issuer & Subsidiary Non-Guarantor Elimination Consolidated Cash flows from operating activities Net income $ 172,521 $ 4,068 $ (4,068 ) $ 172,521 Adjustment to reconcile net income to net cash provided by operating activities: Depreciation and amortization 123,443 5,203 — 128,646 Provision for impairment on real estate properties 415 — — 415 Provision for uncollectible mortgages, notes and accounts receivable 2,141 — — 2,141 Amortization of deferred financing and refinancing costs (8,349 ) 16 — (8,333 ) Accretion of direct financing leases (770 ) — — (770 ) Stock-based compensation 5,942 — — 5,942 Loss on assets sold – net 1,151 — — 1,151 Amortization of acquired in-place leases - net (5,083 ) — — (5,083 ) Change in operating assets and liabilities – net of amounts assumed/acquired: Accounts receivable, net 867 — — 867 Straight-line rent receivables (25,402 ) (1,497 ) — (26,899 ) Lease inducements 3,080 — — 3,080 Effective yield receivable on mortgage notes (1,757 ) — — (1,757 ) Other operating assets and liabilities 10,854 (6,894 ) 4,068 8,028 Net cash provided by operating activities 279,053 896 — 279,949 Cash flows from investing activities Acquisition of real estate – net of liabilities assumed and escrows acquired (32,515 ) — — (32,515 ) Investment in direct financing leases (528,675 ) — — (528,675 ) Placement of mortgage loans (3,378 ) — — (3,378 ) Proceeds from sale of real estate investments 2,292 — — 2,292 Capital improvements to real estate investments (31,347 ) — — (31,347 ) Proceeds from other investments 30,962 — — 30,962 Investments in other investments (36,655 ) — — (36,655 ) Collection of mortgage principal 485 — — 485 Net cash used in investing activities (598,831 ) — — (598,831 ) Cash flows from financing activities Proceeds from credit facility borrowings 511,000 — — 511,000 Payments on credit facility borrowings (343,000 ) — — (343,000 ) Receipts of other long-term borrowings 159,355 — — 159,355 Payments of other long-term borrowings (113,746 ) (896 ) — (114,642 ) Payments of financing related costs (3,234 ) — — (3,234 ) Receipts from dividend reinvestment plan 55,825 — — 55,825 Payments for exercised options and restricted stock – net (5,774 ) — — (5,774 ) Net proceeds from issuance of common stock 278,373 — — 278,373 Dividends paid (218,116 ) — — (218,116 ) Net cash provided by (used in) financing activities 320,683 (896 ) — 319,787 Increase in cash and cash equivalents 905 — — 905 Cash and cash equivalents at beginning of period 1,711 — — 1,711 Cash and cash equivalents at end of period $ 2,616 $ — $ — $ 2,616

ORGANIZATION AND BASIS OF PRE47

ORGANIZATION AND BASIS OF PRESENTATION (Narrative) (Detail)	12 Months Ended
	Dec. 31, 2015Segment
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reportable segments	1
Operating Partnership units
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of limited partnership interest owned	95.00%
Other investors | Operating Partnership units
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of limited partnership interest owned	5.00%

SUMMARY OF SIGNIFICANT ACCOUN48

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail) $ in Millions	Dec. 31, 2015USD ($)
Accounting Policies [Abstract]
2,016	$ 16
2,017	14.8
2,018	13.1
2,019	12
2,020	11.7
Thereafter	34.8
Total	$ 102.4

SUMMARY OF SIGNIFICANT ACCOUN49

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Contractual receivables	$ 8,452	$ 4,799
Effective yield interest receivables	9,028	6,232
Straight-line receivables	175,709	143,652
Lease inducements	10,982	13,571
Allowance	(309)	(78)
Accounts receivable - net	$ 203,862	$ 168,176

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Detail)	12 Months Ended
	Dec. 31, 2015
Building | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Building | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Site improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Site improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Furniture, fixtures and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture, fixtures and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Detail 1) $ / shares in Units, $ in Thousands, shares in Millions	Apr. 01, 2015$ / sharesshares	Dec. 31, 2015USD ($)Facility	Dec. 31, 2014USD ($)Facility	Dec. 31, 2013USD ($)	Feb. 01, 2016Facility	Jun. 30, 2010Facility
Accounting Policies [Line Items]
Unamortized direct costs related to origination of direct financing leases		$ 3,300	$ 3,400
Below market leases		110,200	20,433
Above market leases		7,800	2,400
Amortization of above and below market leases		13,800	5,000	$ 5,100
Recognized impairment losses		17,681	3,660	415
Loan loss reserves		3,000
Straight line rent receivables wrote off		3,200	800
Effective yield interest receivables wrote off		$ 1,500	$ 2,000
Number of facilities transitioned | Facility		4	2
Annual percentage increases over the rents of the prior year, minimum		2.00%
Annual percentage increases over the rents of the prior year, maximum		3.00%
Amortization of financing costs		$ 6,990	$ 4,459	2,779
Number of facilities held for sale | Facility		3
Number of facilities | Facility		949
Rental income		$ 605,991	388,443	375,135
SNF's
Accounting Policies [Line Items]
Number of facilities | Facility		782				143
ALFs
Accounting Policies [Line Items]
Number of facilities | Facility		85
Cash flow hedges
Accounting Policies [Line Items]
Cash flow hedges recorded at fair value in accrued expenses and other liabilities		$ 700
Operating Partnership units
Accounting Policies [Line Items]
Limited partnership interest owned | shares	138.8
Number of units settled in cash | shares	0.2
Percentage of limited partnership interest owned		95.00%
Aviv Operating Partnership | Operating Partnership units
Accounting Policies [Line Items]
Limited partnership interest owned | shares	52.9
Limited Partnership units, redeemable, par value per share | $ / shares	$ 0.10
Other investors | Operating Partnership units
Accounting Policies [Line Items]
Percentage of limited partnership interest owned		5.00%
Laurel Healthcare Holdings
Accounting Policies [Line Items]
Rental income		$ 23,000	$ 1,000	$ 1,000
Laurel Healthcare Holdings | SNF's | Subsequent event
Accounting Policies [Line Items]
Number of facilities | Facility					10
Laurel Healthcare Holdings | Directors
Accounting Policies [Line Items]
Percentage of ownership interest		34.00%
Aviv
Accounting Policies [Line Items]
Number of facilities | Facility		28

PROPERTIES (Detail)

PROPERTIES (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real Estate [Abstract]
Buildings	$ 5,514,820	$ 2,745,872
Site improvements and equipment	558,222	227,411
Land	670,916	250,502
Property, plant and equipment, gross	6,743,958	3,223,785
Less accumulated depreciation	(1,019,150)	(821,712)
Total	$ 5,724,808	$ 2,402,073

PROPERTIES (Detail 1)

PROPERTIES (Detail 1) $ in Thousands	Dec. 31, 2015USD ($)
Real Estate [Abstract]
2,016	$ 628,906
2,017	638,232
2,018	619,251
2,019	592,657
2,020	600,652
Thereafter	3,198,157
Total	$ 6,277,855

PROPERTIES (Details 2)

PROPERTIES (Details 2) $ in Millions		1 Months Ended	5 Months Ended	12 Months Ended
		Oct. 31, 2013USD ($)	Jul. 24, 2015USD ($)	Dec. 31, 2015USD ($)FacilityBed	Dec. 31, 2014USD ($)FacilityBed	Dec. 31, 2013USD ($)FacilityBed	Jun. 30, 2010Facility
Real Estate Properties [Line Items]
Number of Facilities | Facility				949
Initial Yield (%)			5.00%
2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				1,542
Total Investment				$ 228.7
2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed					931
Total Investment					$ 131.7
2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed						481
Total Investment						$ 35.5
Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				122
Land | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					6.8
Land | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						1.3
Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				98.6
Buildings and site improvements | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					120.1
Buildings and site improvements | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						30.8
Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 8.1
Furniture and fixtures | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 4.8
Furniture and fixtures | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						$ 3.4
NY | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment			$ 111.7
IN | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment		$ 25.2
SNF's
Real Estate Properties [Line Items]
Number of Facilities | Facility				782			143
SNF's | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				13
SNF's | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility					4
ALFs
Real Estate Properties [Line Items]
Number of Facilities | Facility				85
ALFs | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				4
ALFs | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility					5
Q1 | TX | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				93
Total Investment				$ 6.8
Initial Yield (%)				9.50%
Q1 | TX | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 0.1
Q1 | TX | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				6.1
Q1 | TX | Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 0.6
Q1 | AZ | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed					90
Total Investment					$ 4.7
Initial Yield (%)					9.75%
Q1 | AZ | Land | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 0.4
Q1 | AZ | Buildings and site improvements | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					3.9
Q1 | AZ | Furniture and fixtures | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 0.4
Q1 | SNF's | TX | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				1
Q1 | ALFs | AZ | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility					1
Q2/Q3 | GA, SC | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed					345
Total Investment					$ 34.6
Initial Yield (%)					9.50%
Q2/Q3 | GA, SC | Land | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 0.9
Q2/Q3 | GA, SC | Buildings and site improvements | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					32.1
Q2/Q3 | GA, SC | Furniture and fixtures | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 1.6
Q2/Q3 | SNF's | GA, SC | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility					3
Q3 | TX | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed					125
Total Investment					$ 8.2
Initial Yield (%)					9.75%
Q3 | TX | Land | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 0.4
Q3 | TX | Buildings and site improvements | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					7.4
Q3 | TX | Furniture and fixtures | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 0.4
Q3 | NE | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				530
Total Investment				$ 15
Initial Yield (%)				9.00%
Q3 | NE | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 1.4
Q3 | NE | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				12.1
Q3 | NE | Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 1.5
Q3 | WA | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				136
Total Investment				$ 18
Initial Yield (%)				8.00%
Q3 | WA | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 2.2
Q3 | WA | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				14.9
Q3 | WA | Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 0.9
Q3 | GA | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				125
Total Investment				$ 10.8
Initial Yield (%)				7.00%
Q3 | GA | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 1.2
Q3 | GA | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				9
Q3 | GA | Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 0.6
Q3 | VA | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				300
Total Investment	[1]			$ 28.5
Initial Yield (%)				9.25%
Q3 | VA | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 1.9
Q3 | VA | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				24.2
Q3 | VA | Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 2.4
Q3 | FL | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				260
Total Investment	[2]			$ 32
Initial Yield (%)				9.00%
Q3 | FL | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 1.4
Q3 | FL | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				29
Q3 | FL | Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 1.6
Q3 | NY | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed
Total Investment	[3],[4]			$ 111.7
Initial Yield (%)
Q3 | NY | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 111.7
Q3 | SNF's | TX | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility					1
Q3 | SNF's | NE | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				6
Q3 | SNF's | WA | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				1
Q3 | SNF's | VA | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				1
Q3 | SNF's | FL | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				2
Q3 | ALFs | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				4
Q3 | ALFs | WA | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				2
Q3 | ALFs | GA | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				2
Q4 | TX | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				92
Total Investment				$ 5.3
Initial Yield (%)				9.50%
Q4 | TX | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 1.8
Q4 | TX | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				3
Q4 | TX | Furniture and fixtures | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 0.5
Q4 | FL | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed						97
Total Investment						$ 10.3
Initial Yield (%)						7.25%
Q4 | FL | Land | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						$ 0.6
Q4 | FL | Buildings and site improvements | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						9
Q4 | FL | Furniture and fixtures | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						$ 0.7
Q4 | AZ | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed				6
Total Investment	[3]			$ 0.6
Initial Yield (%)				9.00%
Q4 | AZ | Land | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 0.3
Q4 | AZ | Buildings and site improvements | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 0.3
Q4 | PA,OR, AR | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed					371
Total Investment					$ 84.2
Initial Yield (%)					6.00%
Q4 | PA,OR, AR | Land | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 5.1
Q4 | PA,OR, AR | Buildings and site improvements | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					76.7
Q4 | PA,OR, AR | Furniture and fixtures | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 2.4
Q4 | IN | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Operating Beds | Bed						384
Total Investment	[5]					$ 25.2
Initial Yield (%)						9.70%
Q4 | IN | Land | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						$ 0.7
Q4 | IN | Buildings and site improvements | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						21.8
Q4 | IN | Furniture and fixtures | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment						$ 2.7
Q4 | SNF's | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility						4
Q4 | SNF's | TX | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				1
Q4 | SNF's | FL | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility
Q4 | SNF's | AZ | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility				1
Q4 | SNF's | IN | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility						4
Q4 | ALFs | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility						1
Q4 | ALFs | FL | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility						1
Q4 | ALFs | PA,OR, AR | 2014 Acquisitions and Other
Real Estate Properties [Line Items]
Number of Facilities | Facility					4
[1]	In July 2015, we leased the facility to a new operator with an initial lease term of 10 years.
[2]	The Company estimated the fair value of the assets acquired on the acquisition date based on certain valuation analyses that have yet to be finalized, and accordingly, the assets acquired, as detailed, are subject to adjustment one the analyses are completed.
[3]	Accounted for as an asset acquisition.
[4]	On July 24, 2015, we purchased five buildings located in New York City, New York for approximately $111.7 million. We and our operator plan to construct a 201,000 square-foot assisted living and memory care facility. The properties were added to the operator's existing master lease. The lease provides for a 5% annual cash yield on the land during the construction phase. Upon issuance of a certification of occupancy, the annual cash yield will increase to 7% in year one and 8% in year two with annual 2.5% annual escalators thereafter.
[5]	On October 31, 2013, we recorded approximately $3.0 million to below market leases as a result of the transaction for a total investment of $25.2 million.

PROPERTIES (Parentheticals) (De

PROPERTIES (Parentheticals) (Details 2) $ in Millions	1 Months Ended		5 Months Ended	12 Months Ended
	Jul. 31, 2015	Oct. 31, 2013USD ($)	Jul. 24, 2015USD ($)ft²Facility	Dec. 31, 2015USD ($)Facility	Dec. 31, 2013USD ($)
Real Estate Properties [Line Items]
Lease term	10 years
Number of leased real estate properties | Facility				949
Area of land | ft²			201,000
Percentage of annual cash yield			5.00%
Percentage of annual cash yield increase in year one			7.00%
Percentage of annual cash yield increase in year two			8.00%
Percentage of annual cash yield increase in year thereafter			2.50%
2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment				$ 228.7
2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment					$ 35.5
NY | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment			$ 111.7
IN | 2013 Acquisitions and Other
Real Estate Properties [Line Items]
Total Investment		$ 25.2
Purchase price allocated below market lease		$ 3
Building | NY | 2015 Acquisitions and Other
Real Estate Properties [Line Items]
Number of leased real estate properties | Facility			5

PROPERTIES (Details 3)

PROPERTIES (Details 3) - USD ($) $ in Thousands		Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Apr. 01, 2015
Estimated fair value of assets acquired:
Goodwill		$ 645,683	$ 554,749	$ 543,093
Merger Agreement | Aviv REIT, Inc
Estimated fair value of assets acquired:
Land and buildings					$ 3,108,078
Investment in direct financing leases					26,823
Mortgages notes receivable					19,246
Other investments					23,619
Total investments					3,177,766
Goodwill		$ 79,000			630,404
Accounts receivables and other assets					15,500
Cash acquired					84,858
Fair value of total assets acquired					3,908,528
Estimated fair value of liabilities assumed:
Accrued expenses and other liabilities					221,631
Debt					1,410,637
Fair value of total liabilities assumed					1,632,268
Value of shares and OP units exchanged	[1]				2,276,260
Fair value of consideration					$ 3,908,528
[1]	Includes the fair value of stock compensation plans assumed.

PROPERTIES (Detail 4)

PROPERTIES (Detail 4) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings per share - diluted:
Net income - as reported	$ 0.32	$ 0.43	$ 0.22	$ 0.32	$ 0.44	$ 0.48	$ 0.37	$ 0.45	$ 1.29	$ 1.74	$ 1.46
Pro forma
Proforma Information [Line Items]
Revenues									$ 817,642	$ 789,270
Net income									$ 258,927	$ 318,271
Earnings per share - diluted:
Net income - as reported									$ 1.29	$ 1.74
Net income - pro forma									$ 1.33	$ 1.74

PROPERTIES - Leased Property (N

PROPERTIES - Leased Property (Narrative) (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Jul. 31, 2015	Dec. 31, 2015USD ($)Facility	Jun. 30, 2010Facility
Real Estate Properties [Line Items]
Lease term	10 years
Number of leased real estate properties		949
Project cost | $		$ 194.3
Capitalized interest | $		$ 3.7
Property available for operating lease | Minimum
Real Estate Properties [Line Items]
Lease term		5 years
Property available for operating lease | Maximum
Real Estate Properties [Line Items]
Lease term		15 years
SNF's
Real Estate Properties [Line Items]
Number of leased real estate properties		782	143
ALFs
Real Estate Properties [Line Items]
Number of leased real estate properties		85
Specialty facilities
Real Estate Properties [Line Items]
Number of leased real estate properties		16
Medical office building
Real Estate Properties [Line Items]
Number of leased real estate properties		1

PROPERTIES - 2015 Acquisitions

PROPERTIES - 2015 Acquisitions and Other (Narrative) (Detail 1) $ in Thousands, shares in Millions	May. 01, 2015USD ($)BedCare_home	Apr. 01, 2015USD ($)FacilityPropertyStateMortgageOperatorLeaseshares	Dec. 31, 2015USD ($)StateOperator	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)State	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)PropertyStateOperator		Dec. 31, 2014USD ($)PropertyState	Dec. 31, 2013USD ($)
Real Estate Properties [Line Items]
Revenues			$ 210,512		$ 201,974	$ 197,711	$ 133,420	$ 131,321	$ 130,665	$ 121,800	$ 121,001	$ 743,617		$ 504,787	$ 418,714
Net income available to common stockholders			$ 60,642		79,402	41,428	$ 43,052	$ 56,990	$ 61,713	$ 46,817	$ 55,829	224,524		221,349	172,521
Acquisition related expenses												57,525		3,948	245
Rental income												$ 605,991		$ 388,443	$ 375,135
Number of properties acquired | Property												4	[1]	3
Number of states | State			42					38				42		38
Number of operators | Operator			83									83
Increase in goodwill			$ 645,683	$ 554,749	$ 554,749	543,093						$ 645,683
Aviv REIT, Inc | Merger Agreement
Real Estate Properties [Line Items]
Revenues												188,400
Acquisition related expenses												52,100
Contingent liability assumed in accrued expenses and other liabilities			67,300									67,300
Conversion ratio of shares		0.90
Number of shares and units issued | shares		43.7
Number of properties acquired | Property		342
Number of facilities subject to direct financing leases | Lease		2
Number of mortgage facilities | Mortgage		2
Number of states | State		31
Number of operators | Operator		38
Fair value of consideration		$ 3,908,528
Fair value of increase in assets			8,200
Fair value of increase in liability			105,500
Increase in goodwill		$ 630,404	79,000									79,000
Fair value of increase in rental income			$ 8,200	$ 2,700		$ 2,700
Aviv REIT, Inc | Merger Agreement | Medical office building
Real Estate Properties [Line Items]
Number of properties acquired | Facility		1
Care Homes
Real Estate Properties [Line Items]
Acquisition related expenses												3,200
Number of care homes located in the United Kingdom | Care_home	23
Number of registered beds | Bed	1,018
Master lease agreement term	12 years
Percentage of initial annual cash yield	7.00%
Percentage of annual escalators	2.50%
Purchase price of beds acquired paid in cash	$ 193,800
Rental income												9,500
Care Homes | Land
Real Estate Properties [Line Items]
Purchase price of beds acquired paid in cash	20,700
Care Homes | Buildings and site improvements
Real Estate Properties [Line Items]
Purchase price of beds acquired paid in cash	152,100
Care Homes | Furniture and fixtures
Real Estate Properties [Line Items]
Purchase price of beds acquired paid in cash	5,300
Care Homes | Goodwill
Real Estate Properties [Line Items]
Purchase price of beds acquired paid in cash	$ 15,700
2015 Acquisitions and Other
Real Estate Properties [Line Items]
Revenues												4,900
Net income available to common stockholders												2,300
Acquisition related expenses												2,200
Purchase price of beds acquired paid in cash												228,700
2015 Acquisitions and Other | Land
Real Estate Properties [Line Items]
Purchase price of beds acquired paid in cash												122,000
2015 Acquisitions and Other | Buildings and site improvements
Real Estate Properties [Line Items]
Purchase price of beds acquired paid in cash												98,600
2015 Acquisitions and Other | Furniture and fixtures
Real Estate Properties [Line Items]
Purchase price of beds acquired paid in cash												$ 8,100
[1]	In 2015, we recorded a $3.0 million impairment charge on a SNF in New Mexico to reduce its net book value to its estimated fair value less costs to sell.

PROPERTIES - 2014 Acquisition (

PROPERTIES - 2014 Acquisition (Narrative) (Detail 2) $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)Facility	Dec. 31, 2015Facility	Jul. 01, 2014FacilityBed	Dec. 31, 2013USD ($)
Real Estate Properties [Line Items]
Revenue attributable to the acquisitions	$ 3.2
Net income attributable to the acquisitions	1.2
Acquisition related expenses	$ 3.9			$ 0.2
Number of facilities transitioned | Facility	2	4
SNFs West Virginia Facility Bed
Real Estate Properties [Line Items]
Number of facilities transitioned | Facility			2
Number of beds | Bed			150
Provision for uncollectible straight-line rent receivable	$ 0.8
Period of master lease agreement	12 years

PROPERTIES - 2013 Acquisition (

PROPERTIES - 2013 Acquisition (Narrative) (Detail 3) $ in Millions	1 Months Ended
	Aug. 30, 2013USD ($)FacilityBed	Dec. 31, 2015Facility	Dec. 31, 2014USD ($)Facility	Dec. 31, 2013USD ($)
Real Estate Properties [Line Items]
Acquisition related expenses | $			$ 3.9	$ 0.2
Number of facilities transitioned | Facility		4	2
SNF's | Arkansas
Real Estate Properties [Line Items]
Number of facilities transitioned | Facility	11
Number of beds | Bed	1,084
Provision for uncollectible straight-line rent receivable | $	$ 2.3

PROPERTIES - Asset Sales, Impai

PROPERTIES - Asset Sales, Impairments and Other (Narrative) (Detail 4) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Facility	Dec. 31, 2014USD ($)Facility	Dec. 31, 2013USD ($)Facility
Real Estate Properties [Line Items]
Number of facilities sold	4
Amount of gain (loss) from sale of facilities | $	$ 8.8	$ 2
SNF's
Real Estate Properties [Line Items]
Number of facilities sold	7	4	1
Number of previously classified as held for sale	4	3
Number of facilities impaired	6	2
Number of facilities impaired and held for sale	2
Number of facilities impaired and closed		2
Total cash proceeds | $	$ 41.5	$ 4.1	$ 2.3
Amount of gain (loss) from sale of facilities | $	6.4	2.9	$ 1.2
Provision for impairment | $	$ 17.7	$ 3.7

DIRECT FINANCING LEASES (Detail

DIRECT FINANCING LEASES (Detail) $ in Thousands	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)Property
Leases, Capital [Abstract]
Minimum lease payments receivable	$ 4,320,876	$ 4,244,067
Less unearned income	(3,733,175)	(3,704,835)
Investment in direct financing leases - net	$ 587,701	$ 539,232
Properties subject to direct financing leases | Property	59	56

DIRECT FINANCING LEASES (Deta64

DIRECT FINANCING LEASES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Capital Leased Assets [Line Items]
Investment in direct financing leases - net	$ 587,701	$ 539,232
New Ark
Capital Leased Assets [Line Items]
Investment in direct financing leases - net	560,308	$ 539,232
Reliance Health Care Management, Inc
Capital Leased Assets [Line Items]
Investment in direct financing leases - net	15,509
Sun Mar Healthcare
Capital Leased Assets [Line Items]
Investment in direct financing leases - net	11,381
Markleysburg Healthcare Investors, LP
Capital Leased Assets [Line Items]
Investment in direct financing leases - net	$ 503

DIRECT FINANCING LEASES (Deta65

DIRECT FINANCING LEASES (Details 2) $ in Thousands	Dec. 31, 2015USD ($)
Leases, Capital [Abstract]
Year 1	$ 50,141
Year 2	50,647
Year 3	51,905
Year 4	53,180
Year 5	$ 54,475

DIRECT FINANCING LEASES (Narrat

DIRECT FINANCING LEASES (Narrative) (Detail) $ in Millions	1 Months Ended
	Jul. 31, 2015	Nov. 27, 2013USD ($)FacilityBedStateLease	Dec. 31, 2015FacilityState	Dec. 31, 2014State
Capital Leased Assets [Line Items]
Lease term	10 years
Number of facilities			949
Number of states | State			42	38
Ark Holding Company Inc
Capital Leased Assets [Line Items]
Purchase price of beds acquired paid in cash | $		$ 529
Number of lease | Lease		4
Lease term		50 years
Interest on lease per annum		10.60%
Number of facilities		56
Number of licensed beds | Bed		5,623
Number of states | State		12
Ark Holding Company Inc | Southeast
Capital Leased Assets [Line Items]
Number of facilities		39
Ark Holding Company Inc | Northwest
Capital Leased Assets [Line Items]
Number of facilities		7
Ark Holding Company Inc | Texas
Capital Leased Assets [Line Items]
Number of facilities		9
Ark Holding Company Inc | Indiana
Capital Leased Assets [Line Items]
Number of facilities		1
SNF's | Ark Holding Company Inc | Direct financing leases
Capital Leased Assets [Line Items]
Number of facilities		55
ALFs | Ark Holding Company Inc
Capital Leased Assets [Line Items]
Number of facilities		1

MORTGAGE NOTES RECEIVABLE (Deta

MORTGAGE NOTES RECEIVABLE (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, gross		$ 679,795	$ 648,079
Allowance for loss on mortgage notes receivable		0	0
Total mortgages - net		679,795	648,079
Mortgage note due 2023; interest at 11.00%
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, gross		$ 69,928	$ 69,928
Mortgage loans on real estate, interest rate		11.00%	11.00%
Mortgage Note Due 2024; Interest At 9.64%
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, gross		$ 112,500	$ 112,500
Mortgage loans on real estate, interest rate		9.64%	9.64%
Mortgage Note Due 2029 Interest At 9.23%
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, gross		$ 413,399	$ 414,550
Mortgage loans on real estate, interest rate		9.23%	9.23%
Other mortgage notes outstanding
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, gross	[1]	$ 83,968	$ 51,101
[1]	Other mortgage notes outstanding have stated interest rates ranging from 8.35% to 12.0% and maturity dates through 2046.

MORTGAGE NOTES RECEIVABLE (Pare

MORTGAGE NOTES RECEIVABLE (Parentheticals) (Details) - Other mortgage notes outstanding - Mortgage Notes due 2046	12 Months Ended
	Dec. 31, 2015
Minimum
Mortgage Loans On Real Estate [Line Items]
Mortgage loans on real estate, interest rate	8.35%
Maximum
Mortgage Loans On Real Estate [Line Items]
Mortgage loans on real estate, interest rate	12.00%

MORTGAGE NOTES RECEIVABLE (Narr

MORTGAGE NOTES RECEIVABLE (Narrative) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)FacilityBedStateMortgage	Dec. 31, 2014USD ($)State	Dec. 31, 2013USD ($)	Jun. 30, 2014USD ($)Facility	Jan. 17, 2014USD ($)FacilityBed	Jun. 30, 2010Facility
Mortgage Loans on Real Estate [Line Items]
Number of fixed rate mortgage | Mortgage	26
Number of long term care facilities	58
Number of states | State	42	38
Number of mortgage notes receivable independent operating companies	8
Mortgage notes receivable | $	$ 679,795	$ 648,079
Number of leased real estate properties	949
Placement of mortgage loans | $	$ 14,042	529,548	$ 3,378
Effective yield interest receivables | $	9,028	6,232
Effective yield interest receivables wrote off | $	$ 1,500	$ 2,000
Mortgage Loans
Mortgage Loans on Real Estate [Line Items]
Number of states | State	10	5
SNF's
Mortgage Loans on Real Estate [Line Items]
Number of leased real estate properties	782					143
Number of facilities under fixed rate mortgage loan	56
ALFs
Mortgage Loans on Real Estate [Line Items]
Number of leased real estate properties	85
Number of facilities under fixed rate mortgage loan	2
Mortgage note due 2023 | Maryland
Mortgage Loans on Real Estate [Line Items]
Mortgage loans on real estate, interest rate	11.00%
Mortgage loans on real estate for five year interest rate	13.75%
Number of leased real estate properties	7
Mortgage note due 2023 | Mortgage Loans | Maryland
Mortgage Loans on Real Estate [Line Items]
Mortgage notes receivable | $	$ 69,900
Mortgage Notes Due 2024 | Mortgage Loans
Mortgage Loans on Real Estate [Line Items]
Mortgage notes receivable | $					$ 112,500
Number of beds | Bed					798
Mortgage Notes Due 2024 | SNF's | Mortgage Loans | Pennsylvania
Mortgage Loans on Real Estate [Line Items]
Number of leased real estate properties					7
Mortgage Notes Due 2024 | ALFs | Mortgage Loans | Ohio
Mortgage Loans on Real Estate [Line Items]
Number of leased real estate properties					2
Mortgage Notes Due 2029 | Mortgage Loans | Michigan
Mortgage Loans on Real Estate [Line Items]
Annual incremental interest rate	0.225%
Description of cash interest rate	The new loan borean initial annual cash interest rate of 9.0% and increases by 0.225% per year (e.g., beginning in year 2 the interest rate will be 9.225%, in year 3 the rate will be 9.45%, etc.
Mortgage loans on real estate, interest rate	9.00%
Mortgage loan, initial annual cash interest rate increase in 2 year	9.225%
Mortgage loan, initial annual cash interest rate increase in 3 year	9.45%
Number of beds | Bed	3,430
Number of leased real estate properties	31
Placement of mortgage loans | $	$ 415,000
Effective yield interest receivables | $	2,000
Effective yield interest receivables wrote off | $	$ 2,000
Mortgage Notes Due 2029 | Retired Mortgage Loans Mortgage Facility | Mortgage Loans | Michigan
Mortgage Loans on Real Estate [Line Items]
Mortgage notes receivable | $				$ 117,000
Number of additional facilities for mortgage financing				14
Number of leased real estate properties				17

OTHER INVESTMENTS (Detail)

OTHER INVESTMENTS (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Schedule of Investments [Line Items]
Notes receivable, gross		$ 92,259	$ 48,952
Allowance for loss on notes receivable		(2,960)
Total other investments		$ 89,299	48,952
Other investment note due 2015
Schedule of Investments [Line Items]
Notes receivable, gross			$ 5,439
Interest rate		10.00%	10.00%
Other investment note due 2020
Schedule of Investments [Line Items]
Notes receivable, gross		$ 23,000	$ 20,000
Interest rate		10.00%	10.00%
Other investment note due 2023
Schedule of Investments [Line Items]
Notes receivable, gross		$ 5,470
Interest rate		9.00%	9.00%
Other investment note due 2030
Schedule of Investments [Line Items]
Notes receivable, gross		$ 26,966
Interest rate		6.66%	6.66%
Other investment note due
Schedule of Investments [Line Items]
Notes receivable, gross	[1]	$ 36,823	$ 23,513
[1]	Other investment notes have maturity dates through2027 and interest rates ranging from 6.50% to 12.0%.

OTHER INVESTMENTS (Parenthetica

OTHER INVESTMENTS (Parentheticals) (Detail) - Other investment note through 2027	Dec. 31, 2015
Minimum
Schedule Of Investments [Line Items]
Interest rate	6.50%
Maximum
Schedule Of Investments [Line Items]
Interest rate	12.00%

OTHER INVESTMENTS (Narrative) (

OTHER INVESTMENTS (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Other investment note due 2020
Schedule Of Investments [Line Items]
Maximum drawing capacity of loan	$ 28
Amount of additional loan drawn	6
Amount of additional funding	$ 6
Interest rate	10.00%		10.00%
Remaining outstanding amount of loan	$ 23
Other investment note due 2023
Schedule Of Investments [Line Items]
Interest rate	9.00%		9.00%
Other investment note due 2023 | Revolving Credit Facility
Schedule Of Investments [Line Items]
Credit facility, borrowing capacity		$ 50
Current used amount of revolving credit facility	$ 27
Revolving credit facility interest rate	6.66%

ASSETS HELD FOR SALE (Detail)

ASSETS HELD FOR SALE (Detail) $ in Thousands		12 Months Ended
		Dec. 31, 2015USD ($)Property		Dec. 31, 2014USD ($)Property
Number Of Properties
Beginning Balance | Property	[1]	4		4
Properties sold | Property		(5)	[2]	(3)	[3]
Properties added | Property		4	[4]	3
Ending balance | Property		3	[5]	4	[1]
Net Book Value
Beginning Balance | $	[1]	$ 12,792		$ 1,356
Properties sold | $		(16,877)	[2]	(686)	[3]
Properties added | $		10,684	[4]	12,122
Ending Balance | $		$ 6,599	[5]	$ 12,792	[1]
[1]	Includes one parcel of land and three facilities.
[2]	In 2015, the parcel of land was reclassified to closed facilities. In addition, we sold four facilities for approximately $25.5 million in net proceeds recognizing a gain on sale of approximately $8.8 million.
[3]	In 2014, we sold these facilities for approximately $2.8 million in net proceeds recognizing a gain on sale of approximately $2.0 million.
[4]	In 2015, we recorded a $3.0 million impairment charge on a SNF in New Mexico to reduce its net book value to its estimated fair value less costs to sell.
[5]	Includes three facilities.

ASSETS HELD FOR SALE (Narrative

ASSETS HELD FOR SALE (Narrative) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Facility	Dec. 31, 2014USD ($)Parcel
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Number of parcel of land held-for-sale | Parcel		1
Number of facilities held for sale | Facility	3
Number of facilities sold | Facility	4
Net proceeds from sale of facilities held for sale	$ 25.5	$ 2.8
Gain from sale of facilities	8.8	$ 2
Impairment charge on SNF	$ 3

INTANGIBLES - Summary of our in

INTANGIBLES - Summary of our intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Assets:
Goodwill	$ 645,683	$ 554,749	$ 543,093
Accumulated amortization	(14,162)			$ (12,166)
Net intangible assets	8,125			2,410
Liabilities:
Below market lease intangibles	165,331			59,785
Accumulated amortization	(55,131)			(39,352)
Net intangible liabilities	110,200			20,433
Above market lease intangibles
Assets:
Gross intangible assets	21,901			$ 14,576
In-place lease intangibles
Assets:
Gross intangible assets	$ 386

INTANGIBLES - Reconciliation of

INTANGIBLES - Reconciliation of goodwill (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015
Goodwill [Roll Forward]
Balance	$ 554,749	$ 543,093
Foreign currency translation	(407)	(605)	$ 585
Balance	645,683	554,749	543,093
Aviv Merger
Goodwill [Roll Forward]
Add: acquisition			526,807
Add: additional valuation adjustments related to preliminary valuations	91,336	$ 12,261
Care Homes
Goodwill [Roll Forward]
Add: acquisition			$ 15,701
Add: additional valuation adjustments related to preliminary valuations	$ 5

INTANGIBLES (Narrative) (Detail

INTANGIBLES (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 13.9	$ 5	$ 5.1
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	16.1
2,017	14.8
2,018	13.1
2,019	12
2,020	$ 11.7
In place lease assets
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining amortization period	5 years 7 months 6 days
In place lease liabilities
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining amortization period	8 years 2 months 12 days

CONCENTRATION OF RISK (Narrativ

CONCENTRATION OF RISK (Narrative) (Detail) $ in Thousands	Dec. 31, 2015USD ($)FacilityStateOperator	Dec. 31, 2014USD ($)State	Jun. 30, 2010Facility
Concentration Risk [Line Items]
Number of leased real estate properties	949
Number of states | State	42	38
Number of operators | Operator	83
Gross investment in facilities, net of impairments and before reserve for uncollectible loans | $	$ 8,000,000
Percentage share of real estate investments related to long-term care facilities	99.00%
Miscellaneous investments, net | $	$ 89,299	$ 48,952
Florida
Concentration Risk [Line Items]
Concentration percent by state	9.00%
Ohio
Concentration Risk [Line Items]
Concentration percent by state	10.00%
Texas
Concentration Risk [Line Items]
Concentration percent by state	9.00%
SNF's
Concentration Risk [Line Items]
Number of leased real estate properties	782		143
Number of facilities under fixed rate mortgage loan	56
ALFs
Concentration Risk [Line Items]
Number of leased real estate properties	85
Number of facilities under fixed rate mortgage loan	2
Specialty facilities
Concentration Risk [Line Items]
Number of leased real estate properties	16
Medical office building
Concentration Risk [Line Items]
Number of leased real estate properties	1

LEASE AND MORTGAGE DEPOSITS (Na

LEASE AND MORTGAGE DEPOSITS (Narrative) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Security Deposits And Letters Of Credit [Line Items]
Liquidity deposits	$ 5.8
Security Deposit	50.6
Letters of credit outstanding	$ 68.7
Minimum
Security Deposits And Letters Of Credit [Line Items]
Period specified for rental and mortgage interest	3 months
Maximum
Security Deposits And Letters Of Credit [Line Items]
Period specified for rental and mortgage interest	6 months

BORROWING ARRANGEMENTS - Long-t

BORROWING ARRANGEMENTS - Long-term borrowings (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 16, 2015	Oct. 26, 2015	Sep. 23, 2015	Apr. 01, 2015	Mar. 18, 2015	Mar. 13, 2015	Dec. 31, 2014	Sep. 11, 2014	Mar. 11, 2014	Mar. 19, 2012
Secured borrowings:
Secured Borrowings		$ 236,204							$ 251,454
Unsecured borrowings:
Revolving line of credit		230,000							85,000
Term loans		750,000							200,000
Revolving line of credit including term loan		980,000							285,000
Totals - net		$ 3,569,086							2,378,503
Percentage of third-party administration fee		0.50%
Secured borrowings
Secured borrowings:
Secured borrowings excluding unamortized premium		$ 236,204							237,880
Premium - net									13,574
Secured Borrowings		$ 236,204							251,454
Secured borrowings | GE Term loan
Debt Instrument [Line Items]
Maturity		2,019
Rate		4.00%
Secured borrowings:
Ge Term Loan		$ 180,000				$ 180,000
Unsecured borrowings:
Secured real estate assets net carrying value		$ 295,500
Secured borrowings | HUD mortgages assumed June 2010
Secured borrowings:
Long-term borrowing amount, secured borrowings									120,665
Secured borrowings | HUD mortgages assumed October 2011
Secured borrowings:
Long-term borrowing amount, secured borrowings									24,441
Secured borrowings | HUD mortgages assumed December 2011
Debt Instrument [Line Items]
Maturity	[1]	2,044
Rate	[1]	3.06%
Secured borrowings:
Long-term borrowing amount, secured borrowings	[1]	$ 56,204							57,416
Unsecured borrowings:
Secured real estate assets net carrying value		95,400
Secured borrowings | HUD mortgages assumed December 2012
Secured borrowings:
Long-term borrowing amount, secured borrowings									35,358
Unsecured borrowings
Unsecured borrowings:
Unsecured borrowings		2,370,000							1,845,000
Discount - net		(17,118)							(2,951)
Total unsecured borrowings		$ 3,332,882							2,127,049
Unsecured borrowings | Revolving line of credit
Debt Instrument [Line Items]
Maturity		2,018
Rate		1.72%
Unsecured borrowings:
Revolving line of credit		$ 230,000							85,000
Unsecured borrowings | Tranche A-1 term loan
Debt Instrument [Line Items]
Maturity		2,019
Rate		1.92%
Unsecured borrowings:
Term loans		$ 200,000							200,000
Unsecured borrowings | Tranche A-2 term loan
Debt Instrument [Line Items]
Maturity		2,017
Rate		1.77%
Unsecured borrowings:
Term loans		$ 200,000
Unsecured borrowings | Omega OP Term loan
Debt Instrument [Line Items]
Maturity		2,017
Rate		1.77%
Unsecured borrowings:
Term loans		$ 100,000
Unsecured borrowings | 2015 term loan
Debt Instrument [Line Items]
Maturity		2,022
Rate		2.14%
Unsecured borrowings:
Term loans		$ 250,000	$ 250,000
Unsecured borrowings | 2020 Notes
Debt Instrument [Line Items]
Rate								7.50%
Unsecured borrowings:
Senior notes outstanding								$ 200,000	200,000
Unsecured borrowings | 2022 Notes
Debt Instrument [Line Items]
Rate				6.75%	6.75%
Unsecured borrowings:
Senior notes outstanding					$ 575,000				575,000
Unsecured borrowings | 2024 Notes
Debt Instrument [Line Items]
Maturity		2,024
Rate		5.875%										5.875%
Unsecured borrowings:
Senior notes outstanding		$ 400,000							400,000			$ 400,000
Unsecured borrowings | 2024 notes
Debt Instrument [Line Items]
Maturity		2,024
Rate		4.95%									4.95%
Unsecured borrowings:
Senior notes outstanding		$ 400,000							400,000		$ 400,000
Unsecured borrowings | 2025 notes
Debt Instrument [Line Items]
Maturity		2,025
Rate		4.50%								4.50%
Unsecured borrowings:
Senior notes outstanding		$ 250,000							250,000	$ 250,000
Unsecured borrowings | 2026 Notes
Debt Instrument [Line Items]
Maturity		2,026
Rate		5.25%			5.25%
Unsecured borrowings:
Senior notes outstanding		$ 600,000			$ 600,000
Unsecured borrowings | 2027 Notes
Debt Instrument [Line Items]
Maturity		2,027
Rate		4.50%					4.50%
Unsecured borrowings:
Senior notes outstanding		$ 700,000					$ 700,000
Unsecured borrowings | Subordinated debt
Debt Instrument [Line Items]
Maturity		2,021
Rate		9.00%
Unsecured borrowings:
Senior notes outstanding		$ 20,000							$ 20,000
[1]	Reflects the weighted average annual contractual interest rate on the mortgages at December 31, 2015 excluding a third-party administration fee of approximately 0.5%. Secured by real estate assets with a net carrying value of $95.4 million.

BORROWING ARRANGEMENTS - Princi

BORROWING ARRANGEMENTS - Principal payments (Detail 1) - Senior notes $ in Thousands	Dec. 31, 2015USD ($)
Borrowing Arrangements [Line Items]
2,016	$ 1,249
2,017	301,288
2,018	231,328
2,019	381,370
2,020	1,412
Thereafter	2,669,557
Totals	$ 3,586,204

BORROWING ARRANGEMENTS - Refina

BORROWING ARRANGEMENTS - Refinancing related costs (Detail 2) $ in Thousands		1 Months Ended		12 Months Ended
		Apr. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)HUD	Dec. 31, 2014USD ($)HUD	Dec. 31, 2013USD ($)HUD
Financing Activities and Borrowing Arrangements [Line Items]
Write off of deferred financing cost and unamortized premiums due to refinancing	[1],[2],[3]			$ (7,134)	$ 1,180	$ (11,278)
Prepayment and other costs associated with refinancing	[4]			35,971	1,861	166
Total debt extinguishment costs (gain)				28,837	3,041	(11,112)
2020 Notes
Financing Activities and Borrowing Arrangements [Line Items]
Write off of deferred financing cost and unamortized premiums due to refinancing				4,200
Prepayment and other costs associated with refinancing				7,500
2022 Notes
Financing Activities and Borrowing Arrangements [Line Items]
Write off of deferred financing cost and unamortized premiums due to refinancing				1,900
Prepayment and other costs associated with refinancing				19,400
HUD Mortgage
Financing Activities and Borrowing Arrangements [Line Items]
Write off of deferred financing cost and unamortized premiums due to refinancing		$ 1,500	$ 9,700	2,100		11,300
Prepayment and other costs associated with refinancing				9,100	1,900	$ 200
Gain from write-off of unamortized premium on the HUD loans				$ 13,200	$ 3,500
Number of HUD loans paid off | HUD				24	5	11
Number of HUD facilities | HUD						11
2012 Credit Facility
Financing Activities and Borrowing Arrangements [Line Items]
Write off of deferred financing cost and unamortized premiums due to refinancing					$ 2,600
Term Loan Facility 2013
Financing Activities and Borrowing Arrangements [Line Items]
Write off of deferred financing cost and unamortized premiums due to refinancing					$ 2,000
[1]	In 2013, we recorded an $11.3 million interest refinancing gain associated with the write-off of the unamortized premium for debt assumed on 11 HUD mortgage loans that we paid off in May 2013.
[2]	In 2014, we recorded: (a) $2.6 million write-off of deferred financing costs associated with the termination of the 2012 Credit Facilities, (b) $2.0 million write-off of deferred financing costs associated with the termination of our 2013 Term Loan Facility offset by (c) $3.5 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in September and December 2014.
[3]	In 2015, we recorded: (a) $4.2 million of write-offs of unamortized deferred financing costs and discount associated with the early redemption of our 2020 Notes, (b) $1.9 million in net write-offs associated with unamortized deferred financing costs and original issuance premiums/discounts associated with the early redemption of our 2022 Notes, offset by (c) $13.2 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in March, April and December 2015.
[4]	In 2015, we made: (a) $7.5 million of prepayment penalties associated with the early redemption of our 2020 Notes, (b) $19.4 million of prepayment penalties associated with the early redemption of our 2022 Notes and (c) $9.1 million of prepayment penalties associated with 24 HUD mortgage loans that we paid off in March, April and December 2015. In 2014, we made prepayment penalties of $1.9 million associated with five HUD mortgage loans that we paid off in September and October 2014. In 2013, we made prepayment penalties of $0.2 million associated with 11 HUD mortgage loans that we paid off in May 2013.

BORROWING ACTIVITIES AND ARRANG

BORROWING ACTIVITIES AND ARRANGEMENTS (Narrative) (Detail) - Secured Borrowings - USD ($) $ in Thousands		Apr. 01, 2015	Dec. 31, 2015
GE Term loan
Debt Instrument [Line Items]
Ge Term Loan		$ 180,000	$ 180,000
Secured real estate assets net carrying value			$ 295,500
Maturity			2,019
Interest rate			4.00%
Description of variable rate basis		The interest rate is based on LIBOR, with a floor of 50 basis points, plus a margin of 350 basis points.
LIBOR plus an applicable percentage		0.50%
HUD mortgages assumed December 2011
Debt Instrument [Line Items]
Secured real estate assets net carrying value			$ 95,400
Maturity	[1]		2,044
Interest rate	[1]		3.06%
[1]	Reflects the weighted average annual contractual interest rate on the mortgages at December 31, 2015 excluding a third-party administration fee of approximately 0.5%. Secured by real estate assets with a net carrying value of $95.4 million.

BORROWING ACTIVITIES AND ARRA84

BORROWING ACTIVITIES AND ARRANGEMENTS (Narrative) (Detail 1) $ in Thousands		1 Months Ended		12 Months Ended
		Apr. 30, 2015USD ($)Mortgage	Mar. 31, 2015USD ($)Mortgage	Dec. 31, 2015USD ($)Mortgage	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Debt Instrument [Line Items]
Write off of deferred financing cost and unamortized premiums due to refinancing (1) (2)(3)	[1],[2],[3]			$ (7,134)	$ 1,180	$ (11,278)
HUD Mortgage
Debt Instrument [Line Items]
Payment to retire HUD mortgages		$ 9,100	$ 154,300	$ 25,100
Number of HUD mortgages | Mortgage		1	21	2
Total HUD mortgage loans principal payoff			$ 146,900
Gain on extinguishment of the debt		$ 1,000	2,300	$ 900
Write off of deferred financing cost and unamortized premiums due to refinancing (1) (2)(3)		1,500	9,700	2,100		$ 11,300
Prepayment fees		$ 500	$ 7,400	$ 1,200
Notes issued, interest rate				5.50%
Lease expiration period				March 1 and April 1, 2036
HUD Mortgage | Hud interest rate 5.35%
Debt Instrument [Line Items]
Number of mortgage loans | Mortgage			18
Notes issued, interest rate			5.35%
Lease expiration period			January 2040 and January 2045
HUD Mortgage | Hud interest rate 5.23%
Debt Instrument [Line Items]
Number of mortgage loans | Mortgage			3
Notes issued, interest rate			5.23%
Lease expiration period			February 2040 and February 2045
HUD Mortgage | Hud interest rate 4.35%
Debt Instrument [Line Items]
Notes issued, interest rate		4.35%
Lease expiration period		March 1, 2041
[1]	In 2013, we recorded an $11.3 million interest refinancing gain associated with the write-off of the unamortized premium for debt assumed on 11 HUD mortgage loans that we paid off in May 2013.
[2]	In 2014, we recorded: (a) $2.6 million write-off of deferred financing costs associated with the termination of the 2012 Credit Facilities, (b) $2.0 million write-off of deferred financing costs associated with the termination of our 2013 Term Loan Facility offset by (c) $3.5 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in September and December 2014.
[3]	In 2015, we recorded: (a) $4.2 million of write-offs of unamortized deferred financing costs and discount associated with the early redemption of our 2020 Notes, (b) $1.9 million in net write-offs associated with unamortized deferred financing costs and original issuance premiums/discounts associated with the early redemption of our 2022 Notes, offset by (c) $13.2 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in March, April and December 2015.

BORROWING ACTIVITIES AND ARRA85

BORROWING ACTIVITIES AND ARRANGEMENTS (Narrative) (Detail 2) - USD ($) $ in Thousands	Apr. 01, 2015	Sep. 11, 2014	Mar. 11, 2014	Dec. 16, 2015	Sep. 23, 2015	Mar. 18, 2015	Mar. 19, 2012	Dec. 31, 2015	Oct. 26, 2015	Dec. 31, 2014	Jun. 27, 2014
Borrowing Arrangements [Line Items]
Term loans								$ 750,000		$ 200,000
Long-term Line of Credit								230,000		85,000
Total assets								8,019,009		3,921,645
Non - Guarantor Subsidiaries
Borrowing Arrangements [Line Items]
Total assets								$ 598,557		118,810
Trache A-2 Term Loan Facility
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage								1.50%
Credit facility, description of variable rate basis								Tranche A-2 Term Loan Facility bears interest at LIBOR plus an applicable percentage (beginning at 150 basis points, with a range of 100 to 195 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings
Debt maturity date								Jun. 27, 2017
Omega OP Term Loan Facility
Borrowing Arrangements [Line Items]
Term loans	$ 100,000
Pricing of credit facility at LIBOR plus an applicable percentage	1.50%
Credit facility, description of variable rate basis	The Omega OP Term Loan Facility is priced at LIBOR plus an applicable percentage (beginning at 150 basis points, with a range of 100 to 195 basis points) based on our ratings from Standard & Poor's, Moody's and/or Fitch Ratings.
Debt maturity date	Jun. 27, 2017
Minimum | Trache A-2 Term Loan Facility
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage								1.00%
Minimum | Omega OP Term Loan Facility
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage	1.00%
Maximum | Trache A-2 Term Loan Facility
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage								1.95%
Maximum | Omega OP Term Loan Facility
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage	1.95%
Senior unsecured revolving credit facility | Omega Credit Agreement
Borrowing Arrangements [Line Items]
Credit facility, borrowing capacity	$ 1,000,000
Senior unsecured revolving credit facility | First Amendment to Omega Credit Agreement
Borrowing Arrangements [Line Items]
Credit facility, borrowing capacity	1,250,000
Senior unsecured revolving credit facility | First Amendment to Omega Credit Agreement | Trache A-2 Term Loan Facility
Borrowing Arrangements [Line Items]
Term loan, borrowing capacity	$ 200,000
Unsecured borrowings
Borrowing Arrangements [Line Items]
Credit facility, borrowing capacity											$ 1,200,000
Unsecured borrowings | 2015 term loan
Borrowing Arrangements [Line Items]
Rate								2.14%
Term loans				$ 250,000				$ 250,000
Pricing of credit facility at LIBOR plus an applicable percentage				1.80%
Credit facility, description of variable rate basis				The 2015 Term Loan Facility is priced at LIBOR plus an applicable percentage (beginning at 180 basis points, with a range of 140 to 235 basis points) based on our ratings from Standard & Poor's, Moody's and/or Fitch Ratings
Debt maturity date				Dec. 16, 2022
Term loan, borrowing capacity				$ 400,000
Unsecured borrowings | 2015 term loan | Interest rate swaps
Borrowing Arrangements [Line Items]
Rate				3.8005%
Credit facility, description of variable rate basis				1-month LIBOR
Debt maturity date				Dec. 15, 2022
Unsecured borrowings | 2015 term loan | Minimum
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage				1.40%
Unsecured borrowings | 2015 term loan | Minimum | Interest rate swaps
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage				0.40%
Unsecured borrowings | 2015 term loan | Maximum
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage				2.35%
Unsecured borrowings | 2015 term loan | Maximum | Interest rate swaps
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage				0.55%
Unsecured borrowings | Senior unsecured revolving credit facility
Borrowing Arrangements [Line Items]
Credit facility, borrowing capacity											1,000,000
Pricing of credit facility at LIBOR plus an applicable percentage								1.30%
Credit facility, description of variable rate basis								The Revolving Credit Facility is priced at LIBOR plus an applicable percentage (beginning at 130 basis points, with a range of 92.5 to 170 basis points) based on our ratings from Standard & Poor's, Moody's and/or Fitch Ratings
Facility fee, basis spread on variable rate								0.25%
Facility fee, description of variable rate basis								facility fee based on the same ratings (initially 25 basis points, with a range of 12.5 to 30 basis points)
Debt maturity date								Jun. 27, 2018
Unsecured borrowings | Senior unsecured revolving credit facility | Minimum
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage								0.925%
Facility fee, basis spread on variable rate								0.125%
Unsecured borrowings | Senior unsecured revolving credit facility | Maximum
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage								1.70%
Facility fee, basis spread on variable rate								0.30%
Unsecured borrowings | Tranche A-1
Borrowing Arrangements [Line Items]
Credit facility, borrowing capacity											200,000
Rate								1.92%
Term loans								$ 200,000		200,000
Pricing of credit facility at LIBOR plus an applicable percentage								1.50%
Credit facility, description of variable rate basis								Tranche A-1 Term Loan Facility bears interest at LIBOR plus an applicable percentage (beginning at 150 basis points, with a range of 100 to 195 basis points) based on our ratings from Standard & Poor’s, Moody’s and/or Fitch Ratings
Debt maturity date								Jun. 27, 2019
Unsecured borrowings | Tranche A-1 | Minimum
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage								1.00%
Unsecured borrowings | Tranche A-1 | Maximum
Borrowing Arrangements [Line Items]
Pricing of credit facility at LIBOR plus an applicable percentage								1.95%
Unsecured borrowings | Initial 2022 Notes
Borrowing Arrangements [Line Items]
Rate					6.75%				6.75%
Senior notes outstanding					$ 575,000					575,000
Unsecured borrowings | 2026 Notes
Borrowing Arrangements [Line Items]
Rate					5.25%			5.25%
Senior notes outstanding					$ 600,000			$ 600,000
Debt maturity date					Jan. 15, 2026
Debt instrument, issuance price, percentage of principal amount issued					99.717%
Net proceeds from issuance of debt, after deducting initial purchasers' discounts					$ 594,400
Unsecured borrowings | 2026 Notes | Non - Guarantor Subsidiaries
Borrowing Arrangements [Line Items]
Total assets								$ 598,600
Unsecured borrowings | 2027 Notes
Borrowing Arrangements [Line Items]
Rate						4.50%		4.50%
Senior notes outstanding						$ 700,000		$ 700,000
Debt maturity date						Apr. 1, 2027
Debt instrument, issuance price, percentage of principal amount issued						98.546%
Net proceeds from issuance of debt, after deducting initial purchasers' discounts						$ 683,000
Unsecured borrowings | 2027 Notes | Non - Guarantor Subsidiaries
Borrowing Arrangements [Line Items]
Total assets						$ 598,600
Unsecured borrowings | 2012 Credit Facility
Borrowing Arrangements [Line Items]
Credit facility, borrowing capacity											$ 700,000
Unsecured borrowings | 4.50% notes due 2025
Borrowing Arrangements [Line Items]
Rate		4.50%						4.50%
Senior notes outstanding		$ 250,000						$ 250,000		250,000
Debt maturity date		Jan. 15, 2015
Debt instrument, issuance price, percentage of principal amount issued		99.131%
Gross proceeds from issuance of debt		$ 247,800
Unsecured borrowings | 4.50% notes due 2025 | Non - Guarantor Subsidiaries
Borrowing Arrangements [Line Items]
Total assets								$ 598,600
Unsecured borrowings | 4.95% Notes due 2024
Borrowing Arrangements [Line Items]
Rate			4.95%					4.95%
Senior notes outstanding			$ 400,000					$ 400,000		400,000
Debt maturity date			Apr. 1, 2024
Debt instrument, issuance price, percentage of principal amount issued			98.58%
Gross proceeds from issuance of debt			$ 394,300
Unsecured borrowings | 4.95% Notes due 2024 | Non - Guarantor Subsidiaries
Borrowing Arrangements [Line Items]
Total assets								$ 598,600
Unsecured borrowings | 5.875% Notes due 2024
Borrowing Arrangements [Line Items]
Rate							5.875%	5.875%
Senior notes outstanding							$ 400,000	$ 400,000		$ 400,000
Debt maturity date							Mar. 15, 2024
Unsecured borrowings | 5.875% Notes due 2024 | Non - Guarantor Subsidiaries
Borrowing Arrangements [Line Items]
Total assets								$ 598,600

BORROWING ACTIVITIES AND ARRA86

BORROWING ACTIVITIES AND ARRANGEMENTS (Narrative) (Detail 3) - USD ($) shares in Thousands, $ in Thousands		Mar. 13, 2015	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Oct. 26, 2015	Sep. 23, 2015
Debt Instrument [Line Items]
Write off deferred financing and discount costs	[1],[2],[3]			$ (7,134)	$ 1,180	$ (11,278)
Issuance of common stock (in shares)				10,925		2,875
7.50% Notes due 2020
Debt Instrument [Line Items]
Write off deferred financing and discount costs				$ 4,200
6.75% Notes due 2022
Debt Instrument [Line Items]
Write off deferred financing and discount costs				$ 1,900
Unsecured borrowings | 7.50% Notes due 2020
Debt Instrument [Line Items]
Rate		7.50%
Senior notes outstanding		$ 200,000			200,000
Redemption price, percentage		103.75%
Redemption price		$ 208,700
Redemption related costs and write-offs		11,700
Redemption prepayment fee		7,500
Write off deferred financing and discount costs		$ 4,200
Unsecured borrowings | 6.75% Notes due 2022
Debt Instrument [Line Items]
Rate							6.75%	6.75%
Senior notes outstanding					$ 575,000			$ 575,000
Redemption related costs and write-offs			$ 21,300
Redemption prepayment fee			19,400
Write off deferred financing and discount costs			$ 1,900
[1]	In 2013, we recorded an $11.3 million interest refinancing gain associated with the write-off of the unamortized premium for debt assumed on 11 HUD mortgage loans that we paid off in May 2013.
[2]	In 2014, we recorded: (a) $2.6 million write-off of deferred financing costs associated with the termination of the 2012 Credit Facilities, (b) $2.0 million write-off of deferred financing costs associated with the termination of our 2013 Term Loan Facility offset by (c) $3.5 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in September and December 2014.
[3]	In 2015, we recorded: (a) $4.2 million of write-offs of unamortized deferred financing costs and discount associated with the early redemption of our 2020 Notes, (b) $1.9 million in net write-offs associated with unamortized deferred financing costs and original issuance premiums/discounts associated with the early redemption of our 2022 Notes, offset by (c) $13.2 million gain related to the early extinguishment of debt from the write off of unamortized premium on the HUD debt paid off in March, April and December 2015.

BORROWING ACTIVITIES AND ARRA87

BORROWING ACTIVITIES AND ARRANGEMENTS (Narrative) (Details 4) - USD ($) $ in Thousands	Apr. 01, 2015	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term Line of Credit		$ 230,000	$ 85,000
Aviv REIT, Inc | Note Payable
Debt Instrument [Line Items]
Loan amount	$ 650,000
Early repayment of debt	705,600
Aviv REIT, Inc | Revolving line of credit
Debt Instrument [Line Items]
Long-term Line of Credit	525,000
Early repayment of debt	$ 525,000

FINANCIAL INSTRUMENTS (Detail)

FINANCIAL INSTRUMENTS (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets:
Cash and cash equivalents	$ 5,424	$ 4,489	$ 2,616	$ 1,711
Restricted cash	14,607	29,076
Investments in direct financing leases - net	587,701	539,232
Mortgage notes receivable - net	679,795	648,079
Other investments - net	89,299	48,952
Liabilities:
Revolving line of credit	230,000	85,000
Tranche A-1 term loan	750,000	200,000
Secured borrowings - net	236,204	251,454
Carrying Amount
Assets:
Cash and cash equivalents	5,424	4,489
Restricted cash	14,607	29,076
Investments in direct financing leases - net	587,701	539,232
Mortgage notes receivable - net	679,795	648,079
Other investments - net	89,299	48,952
Totals	1,376,826	1,269,828
Liabilities:
Revolving line of credit	230,000	85,000
Tranche A-1 term loan	200,000	200,000
Tranche A-2 term loan	200,000
Omega OP term loan	100,000
2015 term loan	250,000
GE term loan due 2019	180,000
Secured borrowings - net	56,204	251,454
Subordinated debt	20,613	20,747
Totals	3,569,086	2,378,503
Carrying Amount | 7.50% notes due 2020 - net
Liabilities:
Notes Payable		198,235
Carrying Amount | 6.75% Notes due 2022
Liabilities:
Notes Payable		580,410
Carrying Amount | 5.875% notes due 2024 - net
Liabilities:
Notes Payable	400,000	400,000
Carrying Amount | 4.95% notes due 2024 - net
Liabilities:
Notes Payable	395,333	394,768
Carrying Amount | 4.50% notes due 2025 - net
Liabilities:
Notes Payable	248,099	247,889
Carrying Amount | 5.25% notes due 2026 - net
Liabilities:
Notes Payable	598,343
Carrying Amount | 4.50% notes due 2027 - net
Liabilities:
Notes Payable	690,494
Fair Value
Assets:
Cash and cash equivalents	5,424	4,489
Restricted cash	14,607	29,076
Investments in direct financing leases - net	584,358	539,232
Mortgage notes receivable - net	687,130	642,626
Other investments - net	90,745	49,513
Totals	1,382,264	1,264,936
Liabilities:
Revolving line of credit	230,000	85,000
Tranche A-1 term loan	200,000	200,000
Tranche A-2 term loan	200,000
Omega OP term loan	100,000
2015 term loan	250,000
GE term loan due 2019	180,000
Secured borrowings - net	52,678	266,434
Subordinated debt	24,366	26,434
Totals	3,593,007	2,623,641
Fair Value | 7.50% notes due 2020 - net
Liabilities:
Notes Payable		264,269
Fair Value | 6.75% Notes due 2022
Liabilities:
Notes Payable		677,851
Fair Value | 5.875% notes due 2024 - net
Liabilities:
Notes Payable	429,956	449,242
Fair Value | 4.95% notes due 2024 - net
Liabilities:
Notes Payable	403,064	410,358
Fair Value | 4.50% notes due 2025 - net
Liabilities:
Notes Payable	242,532	$ 244,053
Fair Value | 5.25% notes due 2026 - net
Liabilities:
Notes Payable	612,760
Fair Value | 4.50% notes due 2027 - net
Liabilities:
Notes Payable	$ 667,651

FINANCIAL INSTRUMENTS (Parenthe

FINANCIAL INSTRUMENTS (Parentheticals) (Detail)	Dec. 31, 2015
7.50% Notes due 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	7.50%
6.75% Notes due 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	6.75%
5.875% Notes due 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	5.875%
4.95% notes due 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	4.95%
4.50% notes due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	4.50%
5.25% notes due 2026 - net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	5.25%
4.50% notes due 2027 - net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	4.50%

TAXES (Narrative) (Detail)

TAXES (Narrative) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)SubsidiaryShareholderEntity
Income Tax Disclosure [Abstract]
Required dividend distribution as a percent of REIT taxable income	90.00%
Required dividend distribution by a REIT as a percent of net income from foreclosure property	90.00%
Required 75 percentage of gross income test from qualifying sources	75.00%
Required 95 percentage of gross income test from qualifying sources	95.00%
Required percentage of REIT qualifying assets	75.00%
Maximum ownership percentage of voting or value of any one security by REIT	10.00%
Maximum ownership percentage by REIT of either debt or equity securities of another company	5.00%
Maximum percentage of assets invested in one or more taxable REIT subsidiaries	25.00%
Maximum percentage of assets invested in one or more taxable REIT subsidiaries after December 31, 2017	20.00%
Minimum number of stockholders who own shares or interest in the REIT | Shareholder	100
Maximum percentage of interest in REIT that five or fewer individuals own directly or indirectly	50.00%
Minimum number of subsequent years the company may not be able to qualify as a REIT	4 years
Percentage of income subject to federal taxation	100.00%
Permitted ownership of a taxable REIT subsidiary ("TRS"), maximum percentage	100.00%
Number of subsidiary created REITs as per qualification rules | Subsidiary	5
Number of taxable REIT subsidiaries | Subsidiary	1
Number of subsidiary elected for treated as TRSs | Subsidiary	2
Net operating loss carry-forward	$ 0.9
Number of legal entities | Entity	10
The tax basis in legal entities acquired for United Kingdom taxes	$ 82
Deferred tax liability	15
State and local income tax provision	1
Provision for foreign income taxes	$ 0.2

RETIREMENT ARRANGEMENTS (Narrat

RETIREMENT ARRANGEMENTS (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation Related Costs [Abstract]
Amounts charged to operations with respect to retirement arrangements	$ 0.4	$ 0.3	$ 0.2
Deferred stock units outstanding	400,814	398,373

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Sep. 03, 2015	Feb. 09, 2015	Oct. 07, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 27, 2015	Mar. 26, 2015	Mar. 18, 2013
Stockholders Equity Note [Line Items]
Issuance of common stock (in shares)				10,925		2,875
Stock issued					1,848	6,504
Aggregate gross sales price of common stock sold					$ 61,981	$ 193,799
Gross proceeds from issuance of common stock				$ 439,322	$ 61,981	$ 278,373
Dividend reinvestment plan (in shares)				4,184	2,084	1,930
Common stock, shares authorized				350,000	200,000
500 Million Equity Shelf Program
Stockholders Equity Note [Line Items]
Sales price, equity distribution agreement	$ 500,000
Compensation percentage for sale of shares	2.00%
250 Million Equity Shelf Program
Stockholders Equity Note [Line Items]
Stock issued	7,400				1,800
Issuance of common stock, average price per share					$ 34.33
Gross proceeds from issuance of common stock	$ 233,800				$ 63,500
Sales price, equity distribution agreement	250,000
Commissions on sale of common stock	$ 4,700				$ 1,500
245 Million Equity Shelf Program
Stockholders Equity Note [Line Items]
Stock issued						1,000
Issuance of common stock, average price per share						$ 28.29
Gross proceeds from issuance of common stock						$ 27,800
Sales price, equity distribution agreement									$ 245,000
Commissions on sale of common stock						$ 600
Capital stock, shares authorized							370,000	220,000
Common stock, shares authorized							350,000	200,000
Dividend Reinvestment and Common Stock Purchase Plan
Stockholders Equity Note [Line Items]
Stock issued				4,200	2,100	1,900
Gross proceeds from issuance of common stock				$ 150,800	$ 71,500	$ 55,800
10.925 Million Common Stock Offering
Stockholders Equity Note [Line Items]
Stock issued		10,925
Issuance of common stock, average price per share		$ 42
Aggregate gross sales price of common stock sold		$ 440,000
2.875 Million Shares of Common Stock Offering
Stockholders Equity Note [Line Items]
Stock issued			2,875
Issuance of common stock, average price per share			$ 29.48
Aggregate gross sales price of common stock sold			$ 84,600

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Detail) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Number of Shares/Units
Non-vested		1,582,093
Weighted - Average Grant-Date Fair Value per Share
Non-vested		$ 20.39
Compensation Cost	[1]	$ 32.2
Restricted stock and RSUs
Number of Shares/Units
Non-vested		309,934	257,198	459,502
Granted		232,533	143,637	241,699
Assumed in Aviv Merger	[2]	38,268
Cancelled		(61,911)
Vested		(106,146)	(90,901)	(444,003)
Non-vested		412,678	309,934	257,198
Weighted - Average Grant-Date Fair Value per Share
Non-vested		$ 30.08	$ 29.32	$ 22.33
Granted		39.25	30.70	29.87
Assumed in Aviv Merger	[2]	23.50
Cancelled		33.77
Vested		28.72	28.87	22.38
Non-vested		$ 34.44	$ 30.08	$ 29.32
Compensation Cost	[3]	$ 9.1	$ 4.4	$ 7.2
Compensation Cost - Assumed in Aviv Merger	[2],[3]	$ 0.9
[1]	Total compensation costs are net of shares cancelled.
[2]	Total compensation cost to be recognized on the awards based on grant date fair value, which is based on the market price of the Company's common stock on the date of grant.
[3]	Omega stock price on April 1, 2015 was $40.74. The weighted average stock price indicated in the table above represents the expense per unit that we will record related to the assumed Aviv RSUs.

STOCK-BASED COMPENSATION (Paren

STOCK-BASED COMPENSATION (Parentheticals) (Detail)	Dec. 31, 2015$ / shares
Restricted stock and RSUs | Award granted in April 1, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price	$ 40.74

STOCK-BASED COMPENSATION (Det95

STOCK-BASED COMPENSATION (Detail 1) - PRSUs and LTIP Units	12 Months Ended
	Dec. 31, 2015$ / shares
Awards granted in January 1, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing Price on date of grant	$ 19.35
Dividend Yield	8.27%
Risk Free interest rate at time of grant, minimum	0.03%
Risk Free interest rate at time of grant, maximum	0.35%
Expected volatility, minimum	35.64%
Expected volatility, maximum	38.53%
Award granted in January 1, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing Price on date of grant	$ 23.85
Dividend Yield	4.24%
Risk Free interest rate at time of grant, minimum	0.05%
Risk Free interest rate at time of grant, maximum	0.43%
Expected volatility, minimum	15.56%
Expected volatility, maximum	23.83%
Awards granted in December 31, 2013 and January 1, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing Price on date of grant	$ 29.80
Dividend Yield	6.44%
Risk Free interest rate at time of grant, minimum	0.04%
Risk Free interest rate at time of grant, maximum	0.86%
Expected volatility, minimum	24.16%
Expected volatility, maximum	25.86%
Award granted in March 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing Price on date of grant	$ 40.57
Dividend Yield	5.23%
Risk Free interest rate at time of grant, minimum	0.10%
Risk Free interest rate at time of grant, maximum	0.94%
Expected volatility, minimum	20.06%
Expected volatility, maximum	21.09%
Award granted in April 1, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing Price on date of grant	$ 40.74
Dividend Yield	5.20%
Risk Free interest rate at time of grant, minimum	0.09%
Risk Free interest rate at time of grant, maximum	0.91%
Expected volatility, minimum	20.06%
Expected volatility, maximum	21.08%
Awards granted in July 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing Price on date of grant	$ 36.26
Dividend Yield	6.07%
Risk Free interest rate at time of grant, minimum	0.13%
Risk Free interest rate at time of grant, maximum	1.08%
Expected volatility, minimum	20.06%
Expected volatility, maximum	20.21%

STOCK-BASED COMPENSATION (Det96

STOCK-BASED COMPENSATION (Detail 2) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Number of Shares/Units
Non-vested		1,582,093
Weighted - Average Grant-Date Fair Value per Share
Non-vested		$ 20.39
Compensation Cost	[1]	$ 32.2
Performance restricted stock units
Number of Shares/Units
Non-vested		850,213	1,038,024	372,735
Granted		537,923	309,168	665,289
Cancelled		(165,570)
Forfeited		(128,073)
Vested	[2]	(181,406)	(496,979)	0
Non-vested		913,087	850,213	1,038,024
Weighted - Average Grant-Date Fair Value per Share
Non-vested		$ 10.97	$ 10.72	$ 11.36
Granted		18.51	11.46	10.36
Cancelled		14.11
Forfeited		12.04
Vested	[2]	10.10	10.75	0
Non-vested		$ 14.87	$ 10.97	$ 10.72
Compensation Cost	[3]	$ 10	$ 3.5	$ 6.9
[1]	Total compensation costs are net of shares cancelled.
[2]	PRSUs are shown as vesting in the year that the Compensation Committee determines the level of achievement of the applicable performance measures.
[3]	Total compensation cost to be recognized on the awards was based on the grant date fair value or the modification date fair value.

STOCK-BASED COMPENSATION (Det97

STOCK-BASED COMPENSATION (Detail 3) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units | shares	1,582,093
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 20.39
Compensation Cost	$ 32.2	[1]
Unrecognized Compensation Cost	$ 16
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units | shares	514,269
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 32.78
Compensation Cost	$ 16.8	[1]
Unrecognized Compensation Cost	$ 7.9
RSUs | 2013 RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,013
Shares/Units | shares	195,822
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 29.80
Compensation Cost	$ 5.8	[1]
Weighted Average Period of Expense Recognition	36 months
Unrecognized Compensation Cost	$ 1.9
Vesting Dates	12/31/14 - 12/31/16
RSUs | 2014 RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,014
Shares/Units | shares	106,778
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 29.80
Compensation Cost	$ 3.2	[1]
Weighted Average Period of Expense Recognition	36 months
Unrecognized Compensation Cost	$ 1.1
Vesting Dates	12/31/2016
RSUs | 3/31/15 RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	109,585
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 40.57
Compensation Cost	$ 4.4	[1]
Weighted Average Period of Expense Recognition	33 months
Unrecognized Compensation Cost	$ 3.2
Vesting Dates	12/31/2017
RSUs | 4/1/15 RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	39,914
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 40.74
Compensation Cost	$ 1.6	[1]
Weighted Average Period of Expense Recognition	33 months
Unrecognized Compensation Cost	$ 1.2
Vesting Dates	12/31/2017
RSUs | Assumed Aviv RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	10,644
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 12.36
Compensation Cost	$ 0.1	[1]
Weighted Average Period of Expense Recognition	9 months
Vesting Dates	12/31/2015
RSUs | Assumed Aviv RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	19,825
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 24.92
Compensation Cost	$ 0.5	[1]
Weighted Average Period of Expense Recognition	21 months
Unrecognized Compensation Cost	$ 0.3
Vesting Dates	12/31/2016
RSUs | Assumed Aviv RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	7,799
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 35.08
Compensation Cost	$ 0.3	[1]
Weighted Average Period of Expense Recognition	33 months
Unrecognized Compensation Cost	$ 0.2
Vesting Dates	12/31/15-12/31/17
RSUs | 7/31/15 RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	23,902
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 36.26
Compensation Cost	$ 0.9	[1]
Weighted Average Period of Expense Recognition	5 months
Vesting Dates	12/31/2015
TSR PRSUs and LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units | shares	533,908
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 11.42
Compensation Cost	$ 6.2	[1]
Unrecognized Compensation Cost	$ 3.1
TSR PRSUs and LTIP Units | 2015 Transition TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,013	[2]
Shares/Units | shares	67,885	[2]
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 7.47	[2]
Compensation Cost	$ 0.5	[1],[2]
Weighted Average Period of Expense Recognition	24 months	[2]
Unrecognized Compensation Cost	$ 0	[2]
Performance Period	12/31/2013-12/31/2015	[2]
Vesting Dates	12/31/2015	[2]
TSR PRSUs and LTIP Units | 2016 Transition TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,013
Shares/Units | shares	101,591
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 8.67
Compensation Cost	$ 0.9	[1]
Weighted Average Period of Expense Recognition	36 months
Unrecognized Compensation Cost	$ 0.3
Performance Period	12/31/2013-12/31/2016
Vesting Dates	12/31/2016
TSR PRSUs and LTIP Units | 2016 TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,014
Shares/Units | shares	135,634
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 8.67
Compensation Cost	$ 1.2	[1]
Weighted Average Period of Expense Recognition	48 months
Unrecognized Compensation Cost	$ 0.6
Performance Period	1/1/2014-12/31/2016
Vesting Dates	Quarterly in 2017
TSR PRSUs and LTIP Units | 3/31/15 2017 LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	137,249
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 14.66
Compensation Cost	$ 2	[1]
Weighted Average Period of Expense Recognition	45 months
Unrecognized Compensation Cost	$ 1.6
Performance Period	1/1/2015-12/31/2017
Vesting Dates	Quarterly in 2018
TSR PRSUs and LTIP Units | 4/1/2015 2017 LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	54,151
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 14.80
Compensation Cost	$ 0.8	[1]
Weighted Average Period of Expense Recognition	45 months
Unrecognized Compensation Cost	$ 0.6
Performance Period	1/1/2015-12/31/2017
Vesting Dates	Quarterly in 2018
TSR PRSUs and LTIP Units | 7/31/15 2015 Transition TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015	[3]
Shares/Units | shares	9,484	[3]
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 27.20	[3]
Compensation Cost	$ 0.3	[1],[3]
Weighted Average Period of Expense Recognition	5 months	[3]
Unrecognized Compensation Cost	$ 0	[3]
Performance Period	12/31/2013-12/31/2015	[3]
Vesting Dates	12/31/2015	[3]
TSR PRSUs and LTIP Units | 7/31/15 2016 Transition TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	22,091
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 18.51
Compensation Cost	$ 0.4	[1]
Weighted Average Period of Expense Recognition	5 months
Performance Period	12/31/2013-12/31/2016
Vesting Dates	12/31/2016
TSR PRSUs and LTIP Units | 7/31/15 2017 LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	5,823
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 8.78
Compensation Cost	$ 0.1	[1]
Weighted Average Period of Expense Recognition	5 months
Performance Period	1/1/2015-12/31/2017
Vesting Dates	12/31/2017
Relative TSR PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares/Units | shares	533,916
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 17.44
Compensation Cost	$ 9.2	[1]
Unrecognized Compensation Cost	$ 5
Relative TSR PRSUs | 2015 Transition Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,013	[4]
Shares/Units | shares	67,884	[4]
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 13.05	[4]
Compensation Cost	$ 0.9	[1],[4]
Weighted Average Period of Expense Recognition	24 months	[4]
Unrecognized Compensation Cost	$ 0	[4]
Performance Period	12/31/2013-12/31/2015	[4]
Vesting Dates	12/31/2015	[4]
Relative TSR PRSUs | 2016 Transition Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,013
Shares/Units | shares	101,588
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 14.24
Compensation Cost	$ 1.4	[1]
Weighted Average Period of Expense Recognition	36 months
Unrecognized Compensation Cost	$ 0.5
Performance Period	12/31/2013-12/31/2016
Vesting Dates	12/31/2016
Relative TSR PRSUs | 2016 Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,014
Shares/Units | shares	135,634
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 14.24
Compensation Cost	$ 1.9	[1]
Weighted Average Period of Expense Recognition	48 months
Unrecognized Compensation Cost	$ 1
Performance Period	1/1/2014-12/31/2016
Vesting Dates	Quarterly in 2017
Relative TSR PRSUs | 3/31/15 2017 Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	137,249
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 22.50
Compensation Cost	$ 3.1	[1]
Weighted Average Period of Expense Recognition	45 months
Unrecognized Compensation Cost	$ 2.5
Performance Period	1/1/2015-12/31/2017
Vesting Dates	Quarterly in 2018
Relative TSR PRSUs | 4/1/2015 2017 Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	54,151
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 22.91
Compensation Cost	$ 1.2	[1]
Weighted Average Period of Expense Recognition	45 months
Unrecognized Compensation Cost	$ 1
Performance Period	1/1/2015-12/31/2017
Vesting Dates	Quarterly in 2018
Relative TSR PRSUs | 7/31/15 2015 Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015	[5]
Shares/Units | shares	9,484	[5]
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 18.85	[5]
Compensation Cost	$ 0.2	[1],[5]
Weighted Average Period of Expense Recognition	5 months	[5]
Unrecognized Compensation Cost	$ 0	[5]
Performance Period	1/1/2014-12/31/2015	[5]
Vesting Dates	12/31/2015	[5]
Relative TSR PRSUs | 7/31/15 2016 Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	22,100
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 19.60
Compensation Cost	$ 0.4	[1]
Weighted Average Period of Expense Recognition	5 months
Performance Period	1/1/2014-12/31/2016
Vesting Dates	12/31/2016
Relative TSR PRSUs | 7/31/15 2017 Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2,015
Shares/Units | shares	5,826
Grant Date Average Fair Value Per Unit/ Share | $ / shares	$ 17.74
Compensation Cost	$ 0.1	[1]
Weighted Average Period of Expense Recognition	5 months
Performance Period	1/1/2015-12/31/2017
Vesting Dates	12/31/2017
[1]	Total compensation costs are net of shares cancelled.
[2]	The shares/unit information includes 30,872 shares/units that were determined to be forfeited because the performance goal was not achieved.
[3]	The shares/unit information includes 4,231 shares/units that were determined to be forfeited because the performance goal was not achieved.
[4]	The shares/unit information includes 67,884 shares/units that were determined to be forfeited because the performance goal was not achieved.
[5]	The shares/unit information includes 9,484 shares/units that were determined to be forfeited because the performance goal was not achieved.

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Detail) - USD ($) $ / shares in Units, $ in Millions		Apr. 01, 2015	Jun. 06, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of operating partnership units distributions				10.00%
Value of shares issued net of tax withholdings				$ 26.7	$ 3.6	$ 5.8
Numbers of shares awarded to employees				1,582,093
Compensation Cost	[1]			$ 32.2
Aviv
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price				$ 34.98
Number of employee stock options assumed		5,700,000
Conversion ratio of assumed employee stock options		0.9
Number of stock options issued		5,100,000
Intrinsic value of stock option assumed		$ 99.2
Number of stock options exercised		2,600,000
Weighted average rate of stock options exercised		$ 19.38
Number of stock options remain outstanding and exercisable				2,500,000
Weighted average exercise price of stock options outstanding				$ 19.38
Aggregate intrinsic value of outstanding stock options				$ 39.2
2013 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in number of shares reserved for issuance			3,000,000
Number of common shares reserved for future issuance				2,139,785
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares forfeited				128,073
Number of restricted stock issued				537,923	309,168	665,289
Numbers of shares awarded to employees				913,087	850,213	1,038,024	372,735
Compensation Cost	[2]			$ 10	$ 3.5	$ 6.9
TSR PRSUs and LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Numbers of shares awarded to employees				533,908
Compensation Cost	[1]			$ 6.2
TSR PRSUs and LTIP Units | 2015 Transition TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares forfeited				30,872
Numbers of shares awarded to employees	[3]			67,885
Compensation Cost	[1],[3]			$ 0.5
TSR PRSUs and LTIP Units | 7/31/15 2015 Transition TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares forfeited				4,231
Numbers of shares awarded to employees	[4]			9,484
Compensation Cost	[1],[4]			$ 0.3
Relative TSR PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Numbers of shares awarded to employees				533,916
Compensation Cost	[1]			$ 9.2
Relative TSR PRSUs | 2015 Transition Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares forfeited				67,884
Numbers of shares awarded to employees	[5]			67,884
Compensation Cost	[1],[5]			$ 0.9
Relative TSR PRSUs | 7/31/15 2015 Relative TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares forfeited				9,484
Numbers of shares awarded to employees	[6]			9,484
Compensation Cost	[1],[6]			$ 0.2
Restricted stock | Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock issued				30,500	21,500	27,958
Fair value of restricted stock award				$ 1.1	$ 0.8	$ 0.8
Numbers of shares awarded to employees				54,149
Vesting period, years				3 years
Compensation Cost				$ 1.4
[1]	Total compensation costs are net of shares cancelled.
[2]	Total compensation cost to be recognized on the awards was based on the grant date fair value or the modification date fair value.
[3]	The shares/unit information includes 30,872 shares/units that were determined to be forfeited because the performance goal was not achieved.
[4]	The shares/unit information includes 4,231 shares/units that were determined to be forfeited because the performance goal was not achieved.
[5]	The shares/unit information includes 67,884 shares/units that were determined to be forfeited because the performance goal was not achieved.
[6]	The shares/unit information includes 9,484 shares/units that were determined to be forfeited because the performance goal was not achieved.

DIVIDENDS (Detail)

DIVIDENDS (Detail) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividends [Line Items]
Common dividends (in dollars per share)	$ 0.56	$ 0.55	$ 0.54	$ 0.53	$ 0.52	$ 0.51	$ 0.50	$ 0.49	$ 2.18	$ 2.02	$ 1.86
Ordinary income
Dividends [Line Items]
Common dividends (in dollars per share)									1.133	1.834	1.536
Return of capital
Dividends [Line Items]
Common dividends (in dollars per share)									$ 1.047	$ 0.186	$ 0.324

DIVIDENDS (Narrative) (Detail)

DIVIDENDS (Narrative) (Detail) - Dividend Declared - $ / shares	Jan. 14, 2016	Oct. 14, 2015	Jul. 15, 2015	Apr. 15, 2015	Mar. 05, 2015	Jan. 14, 2015
Dividends [Line Items]
Common stock dividend declared, per share		$ 0.56	$ 0.55	$ 0.54	$ 0.54	$ 0.53
Nature of common stock dividend payable		Quarterly	Quarterly	Quarterly	Quarterly	Quarterly
Increase in quarterly common dividend, per share		$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Dividends declared, date of declaration		Oct. 14, 2015	Jul. 15, 2015			Jan. 14, 2015
Dividends declared, date of payment		Nov. 16, 2015	Aug. 17, 2015			Feb. 16, 2015
Dividends declared, date of record		Nov. 2, 2015	Jul. 31, 2015			Feb. 2, 2015
Aviv REIT, Inc
Dividends [Line Items]
Common stock dividend declared, per share				$ 0.18	$ 0.36
Dividends declared, date of declaration				Apr. 15, 2015	Mar. 5, 2015
Dividends declared, date of payment				May 15, 2015	Apr. 7, 2015
Dividends declared, date of record				Apr. 30, 2015	Mar. 31, 2015
Subsequent event
Dividends [Line Items]
Common stock dividend declared, per share	$ 0.57
Nature of common stock dividend payable	Quarterly
Increase in quarterly common dividend, per share	$ 0.01
Dividends declared, date of declaration	Jan. 14, 2016
Dividends declared, date of payment	Feb. 16, 2016
Dividends declared, date of record	Feb. 2, 2016

SUMMARY OF QUARTERLY RESULTS101

SUMMARY OF QUARTERLY RESULTS (UNAUDITED) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 210,512	$ 201,974	$ 197,711	$ 133,420	$ 131,321	$ 130,665	$ 121,800	$ 121,001	$ 743,617	$ 504,787	$ 418,714
Net income	63,543	83,254	43,466	43,052	56,990	61,713	46,817	55,829	233,315	221,349	172,521
Net income available to common stockholders	$ 60,642	$ 79,402	$ 41,428	$ 43,052	$ 56,990	$ 61,713	$ 46,817	$ 55,829	$ 224,524	$ 221,349	$ 172,521
Net income available to common per share:
Basic	$ 0.32	$ 0.43	$ 0.23	$ 0.32	$ 0.45	$ 0.48	$ 0.37	$ 0.45	$ 1.30	$ 1.75	$ 1.47
Net income per share:
Diluted	0.32	0.43	0.22	0.32	0.44	0.48	0.37	0.45	1.29	1.74	1.46
Cash dividends paid on common stock	$ 0.56	$ 0.55	$ 0.54	$ 0.53	$ 0.52	$ 0.51	$ 0.50	$ 0.49	$ 2.18	$ 2.02	$ 1.86

EARNINGS PER SHARE (Detail)

EARNINGS PER SHARE (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator:
Net income	$ 63,543	$ 83,254	$ 43,466	$ 43,052	$ 56,990	$ 61,713	$ 46,817	$ 55,829	$ 233,315	$ 221,349	$ 172,521
Less: Net income attributable to noncontrolling interests									(8,791)
Net income available to common stockholders	$ 60,642	$ 79,402	$ 41,428	$ 43,052	$ 56,990	$ 61,713	$ 46,817	$ 55,829	$ 224,524	$ 221,349	$ 172,521
Denominator:
Denominator for basic earnings per share									172,242	126,550	117,257
Effect of dilutive securities:
Common stock equivalents									1,539	744	843
Noncontrolling interest - OP units									6,727
Denominator for diluted earnings per share									180,508	127,294	118,100
Earnings per share - basic:
Net income available to common stockholders (in dollars per share)	$ 0.32	$ 0.43	$ 0.23	$ 0.32	$ 0.45	$ 0.48	$ 0.37	$ 0.45	$ 1.30	$ 1.75	$ 1.47
Earnings per share - diluted:
Net income (in dollars per share)	$ 0.32	$ 0.43	$ 0.22	$ 0.32	$ 0.44	$ 0.48	$ 0.37	$ 0.45	$ 1.29	$ 1.74	$ 1.46

CONSOLIDATING FINANCIAL STAT103

CONSOLIDATING FINANCIAL STATEMENTS - CONSOLIDATING BALANCE SHEET (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real estate properties
Land and buildings	$ 6,743,958			$ 3,223,785
Less accumulated depreciation	(1,019,150)			(821,712)
Real estate properties - net	5,724,808			2,402,073
Investment in direct financing leases	587,701			539,232
Mortgage notes receivable	679,795			648,079
Real estate properties, total	6,992,304			3,589,384
Other investments - net	89,299			48,952
Total investments	7,081,603			3,638,336
Assets held for sale - net	6,599			12,792
Total investments	7,088,202			3,651,128
Cash and cash equivalents	5,424			4,489	$ 2,616	$ 1,711
Restricted cash	14,607			29,076
Accounts receivable - net	203,862			168,176
Goodwill	645,683	$ 554,749	$ 543,093
Other assets	61,231			68,776
Total assets	8,019,009			3,921,645
LIABILITIES AND EQUITY
Revolving line of credit	230,000			85,000
Term loans	750,000			200,000
Secured borrowings	236,204			251,454
Unsecured borrowings - net	2,352,882			1,842,049
Accrued expenses and other liabilities	333,706			141,815
Deferred income taxes	15,352
Total liabilities	3,918,144			2,520,318
Equity:
Common stock	18,740			12,761
Common stock - additional paid-in-capital	4,609,474			2,136,234
Cumulative net earnings	1,372,522			1,147,998
Cumulative dividends paid	(2,254,038)			(1,895,666)
Accumulated other comprehensive income (loss)	(8,712)
Total stockholders' equity	3,737,986			1,401,327	1,300,103	1,011,329
Noncontrolling interest	362,879
Total equity	4,100,865			1,401,327	1,300,103	1,011,329
Total liabilities and equity	8,019,009			3,921,645
Issuer & Subsidiary Guarantors
Real estate properties
Land and buildings	6,152,779			3,108,597
Less accumulated depreciation	(984,947)			(805,679)
Real estate properties - net	5,167,832			2,302,918
Investment in direct financing leases	587,701			539,232
Mortgage notes receivable	679,795			648,079
Real estate properties, total	6,435,328			3,490,229
Other investments - net	89,299			48,952
Total investments	6,524,627			3,539,181
Assets held for sale - net	6,599			12,792
Total investments	6,531,226			3,551,973
Cash and cash equivalents	1,592			4,489	$ 2,616	$ 1,711
Restricted cash	7,068			21,943
Accounts receivable - net	196,107			163,610
Goodwill	630,404
Investment in affiliates	340,850			28,687
Other assets	54,055			60,820
Total assets	7,761,302			3,831,522
LIABILITIES AND EQUITY
Revolving line of credit	230,000			85,000
Term loans	750,000			200,000
Secured borrowings				167,379
Unsecured borrowings - net	2,352,882			1,842,049
Accrued expenses and other liabilities	326,815			135,767
Intercompany payable	740
Total liabilities	3,660,437			2,430,195
Equity:
Common stock	18,740			12,761
Common stock - additional paid-in-capital	4,609,474			2,136,234
Cumulative net earnings	1,372,522			1,147,998
Cumulative dividends paid	(2,254,038)			(1,895,666)
Accumulated other comprehensive income (loss)	(8,712)
Total stockholders' equity	3,737,986
Noncontrolling interest	362,879
Total equity	4,100,865			1,401,327
Total liabilities and equity	7,761,302			3,831,522
Non - Guarantor Subsidiaries
Real estate properties
Land and buildings	591,179			115,188
Less accumulated depreciation	(34,203)			(16,033)
Real estate properties - net	556,976			99,155
Real estate properties, total	556,976			99,155
Total investments	556,976			99,155
Total investments	556,976			99,155
Cash and cash equivalents	3,832
Restricted cash	7,539			7,133
Accounts receivable - net	7,755			4,566
Goodwill	15,279
Other assets	7,176			7,956
Total assets	598,557			118,810
LIABILITIES AND EQUITY
Secured borrowings	361,460			84,075
Accrued expenses and other liabilities	6,891			6,048
Deferred income taxes	15,352
Intercompany payable	36,299			17,096
Total liabilities	420,002			107,219
Equity:
Equity investment in affiliates	156,507
Cumulative net earnings	21,971			11,591
Accumulated other comprehensive income (loss)	77
Total stockholders' equity	178,555
Total equity	178,555			11,591
Total liabilities and equity	598,557			118,810
Elimination Company
Real estate properties
Investment in affiliates	(340,850)			(28,687)
Total assets	(340,850)			(28,687)
LIABILITIES AND EQUITY
Secured borrowings	(125,256)
Intercompany payable	(37,039)			(17,096)
Total liabilities	(162,295)			(17,096)
Equity:
Equity investment in affiliates	(156,507)
Cumulative net earnings	(21,971)			(11,591)
Accumulated other comprehensive income (loss)	(77)
Total stockholders' equity	(178,555)
Total equity	(178,555)			(11,591)
Total liabilities and equity	$ (340,850)			$ (28,687)

CONSOLIDATING FINANCIAL STAT104

CONSOLIDATING FINANCIAL STATEMENTS - CONSOLIDATING STATEMENT OF OPERATIONS (Detail 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Rental income									$ 605,991	$ 388,443	$ 375,135
Income from direct financing leases									59,936	56,719	5,203
Mortgage interest income									68,910	53,007	29,351
Other investment income - net									8,780	6,618	9,025
Total operating revenues	$ 210,512	$ 201,974	$ 197,711	$ 133,420	$ 131,321	$ 130,665	$ 121,800	$ 121,001	743,617	504,787	418,714
Expenses
Depreciation and amortization									210,703	123,257	128,646
General and administrative									38,568	25,888	21,588
Acquisition costs									57,525	3,948	245
Impairment loss on real estate properties									17,681	3,660	415
Provisions for uncollectible mortgages, notes and accounts receivable									7,871	2,723	2,141
Total other expense									332,348	159,476	153,035
Income before other income and expense									411,269	345,311	265,679
Other income (expense)
Interest income									285	44	41
Interest expense									(147,381)	(119,369)	(100,381)
Interest - amortization of deferred financing costs									(6,990)	(4,459)	(2,779)
Interest - refinancing (costs) gain									(28,837)	(3,041)	11,112
Realized loss on foreign exchange									(173)
Total other expense									(183,096)	(126,825)	(92,007)
Income before gain on assets sold									228,173	218,486	173,672
Gain on assets sold - net									6,353	2,863	(1,151)
Income from continuing operations before income taxes									234,526	221,349	172,521
Income taxes									(1,211)
Net income									233,315	221,349	172,521
Net income attributable to noncontrolling interest									(8,791)
Net income available to common stockholders	$ 60,642	$ 79,402	$ 41,428	$ 43,052	$ 56,990	$ 61,713	$ 46,817	$ 55,829	224,524	221,349	172,521
Net income									233,315	221,349	172,521
Other comprehensive loss - foreign currency translation									(8,413)
Other comprehensive loss - cash flow hedges									(718)
Total comprehensive income									224,184	221,349	172,521
Add: other comprehensive loss attributable to noncontrolling interest									419
Comprehensive income attributable to common stockholders									224,603	221,349	172,521
Issuer & Subsidiary Guarantors
Revenues
Rental income									560,211	375,279	362,033
Income from direct financing leases									59,936	56,719	5,203
Mortgage interest income									68,910	53,007	29,351
Other investment income - net									8,780	6,618	9,025
Total operating revenues									697,837	491,623	405,612
Expenses
Depreciation and amortization									192,375	117,976	123,443
General and administrative									38,140	25,759	21,466
Acquisition costs									55,012	3,948	245
Impairment loss on real estate properties									17,681	3,660	415
Provisions for uncollectible mortgages, notes and accounts receivable									5,966	2,723	2,141
Total other expense									309,174	154,066	147,710
Income before other income and expense									388,663	337,557	257,902
Other income (expense)
Interest income									269	29	26
Interest expense									(134,478)	(116,075)	(96,673)
Interest - amortization of deferred financing costs									(6,969)	(4,437)	(2,763)
Interest - refinancing (costs) gain									(29,714)	(3,041)	11,112
Realized loss on foreign exchange									(173)
Equity in earnings									10,380	4,453	4,068
Total other expense									(160,685)	(119,071)	(84,230)
Income before gain on assets sold									227,978	218,486	173,672
Gain on assets sold - net									6,353	2,863	(1,151)
Income from continuing operations before income taxes									234,331
Income taxes									1,016
Net income									233,315	221,349	172,521
Net income attributable to noncontrolling interest									8,791
Net income available to common stockholders									224,524	221,349	172,521
Net income									233,315	221,349	172,521
Other comprehensive loss - foreign currency translation									(8,413)
Other comprehensive loss - cash flow hedges									(718)
Total comprehensive income									224,184
Add: other comprehensive loss attributable to noncontrolling interest									419
Comprehensive income attributable to common stockholders									224,603
Non - Guarantor Subsidiaries
Revenues
Rental income									45,780	13,164	13,102
Total operating revenues									45,780	13,164	13,102
Expenses
Depreciation and amortization									18,328	5,281	5,203
General and administrative									428	129	122
Acquisition costs									2,513
Provisions for uncollectible mortgages, notes and accounts receivable									1,905
Total other expense									23,174	5,410	5,325
Income before other income and expense									22,606	7,754	7,777
Other income (expense)
Interest income									16	15	15
Interest expense									(12,903)	(3,294)	(3,708)
Interest - amortization of deferred financing costs									(21)	(22)	(16)
Interest - refinancing (costs) gain									877
Total other expense									(12,031)	(3,301)	(3,709)
Income before gain on assets sold									10,575	4,453	4,068
Income from continuing operations before income taxes									10,575
Income taxes									195
Net income									10,380	4,453	4,068
Net income available to common stockholders									10,380	4,453	4,068
Net income									10,380	4,453	4,068
Total comprehensive income									10,380
Comprehensive income attributable to common stockholders									10,380
Elimination Company
Other income (expense)
Equity in earnings									(10,380)	(4,453)	(4,068)
Total other expense									(10,380)	(4,453)	(4,068)
Income before gain on assets sold									(10,380)	(4,453)	(4,068)
Income from continuing operations before income taxes									(10,380)
Net income									(10,380)	(4,453)	(4,068)
Net income available to common stockholders									(10,380)	(4,453)	(4,068)
Net income									(10,380)	$ (4,453)	$ (4,068)
Total comprehensive income									(10,380)
Comprehensive income attributable to common stockholders									$ (10,380)

CONSOLIDATING FINANCIAL STAT105

CONSOLIDATING FINANCIAL STATEMENTS - CONSOLIDATED STATEMENTS OF CASH FLOWS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income	$ 233,315	$ 221,349	$ 172,521
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	210,703	123,257	128,646
Provision for impairment on real estate properties	17,681	3,660	415
Provisions for uncollectible mortgages, notes and accounts receivable	7,871	2,723	2,141
Amortization of deferred financing costs and refinancing costs	35,827	7,500	(8,333)
Accretion of direct financing leases	(11,007)	(9,787)	(770)
Stock-based compensation	11,133	8,592	5,942
Gain on assets sold - net	(6,353)	(2,863)	1,151
Amortization of acquired in-place leases - net	(13,846)	(4,986)	(5,083)
Change in operating assets and liabilities - net of amounts assumed/acquired:
Accounts receivable, net	248	(2,264)	867
Straight-line rent receivables	(36,057)	(20,956)	(26,899)
Lease inducements	994	2,656	3,080
Effective yield receivable on mortgage notes	(4,065)	(2,878)	(1,757)
Other operating assets and liabilities	17,441	11,537	8,028
Net cash provided by operating activities	463,885	337,540	279,949
Cash flows from investing activities
Acquisition of real estate - net of liabilities assumed and escrows acquired	(294,182)	(131,689)	(32,515)
Cash acquired in merger	84,858
Investment in construction in progress	(164,226)
Investment in direct financing leases	(6,793)		(528,675)
Placement of mortgage loans	(14,042)	(529,548)	(3,378)
Proceeds from sale of real estate investments	41,543	4,077	2,292
Capital improvements to real estate investments	(26,397)	(17,917)	(31,347)
Proceeds from other investments	45,871	13,589	30,962
Investments in other investments	(65,402)	(9,441)	(36,655)
Collection of mortgage principal	1,359	122,984	485
Net cash used in investing activities	(397,411)	(547,945)	(598,831)
Cash flows from financing activities
Proceeds from credit facility borrowings	1,826,000	900,000	511,000
Payments on credit facility borrowings	(1,681,000)	(1,141,000)	(343,000)
Receipts of other long-term borrowings	1,838,124	842,148	159,355
Payments of other long-term borrowings	(2,187,314)	(242,544)	(114,642)
Payments of financing related costs	(54,721)	(17,716)	(3,234)
Receipts from dividend reinvestment plan	150,847	71,487	55,825
Payments for exercised options and restricted stock - net	(26,706)	(3,577)	(5,774)
Net proceeds from issuance of common stock	439,322	61,981	278,373
Dividends paid	(358,232)	(258,501)	(218,116)
Distributions to OP Unit Holders	(11,636)
Net cash (used in) provided by financing activities	(65,316)	212,278	319,787
(Decrease) increase in cash and cash equivalents	1,158	1,873	905
Effect of foreign currency translation on cash and cash equivalents	(223)
Cash and cash equivalents at beginning of year	4,489	2,616	1,711
Cash and cash equivalents at end of year	5,424	4,489	2,616
Issuer & Subsidiary Guarantors
Cash flows from operating activities
Net income	233,315	221,349	172,521
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	192,375	117,976	123,443
Provision for impairment on real estate properties	17,681	3,660	415
Provisions for uncollectible mortgages, notes and accounts receivable	5,966	2,723	2,141
Amortization of deferred financing costs and refinancing costs	36,683	7,479	(8,349)
Accretion of direct financing leases	(11,007)	(9,787)	(770)
Stock-based compensation	11,133	8,592	5,942
Gain on assets sold - net	(6,353)	(2,863)	1,151
Amortization of acquired in-place leases - net	(13,846)	(4,986)	(5,083)
Change in operating assets and liabilities - net of amounts assumed/acquired:
Accounts receivable, net	248	(2,264)	867
Straight-line rent receivables	(32,815)	(19,750)	(25,402)
Lease inducements	994	2,656	3,080
Effective yield receivable on mortgage notes	(4,065)	(2,878)	(1,757)
Other operating assets and liabilities	(9,654)	11,432	10,854
Net cash provided by operating activities	420,655	333,339	279,053
Cash flows from investing activities
Acquisition of real estate - net of liabilities assumed and escrows acquired	(116,698)	(131,689)	(32,515)
Cash acquired in merger	84,858
Investment in construction in progress	(164,226)
Investment in U.K. subsidiary	(165,760)
Investment in direct financing leases	(6,793)		(528,675)
Placement of mortgage loans	(14,042)	(529,548)	(3,378)
Proceeds from sale of real estate investments	41,543	4,077	2,292
Capital improvements to real estate investments	(24,599)	(15,526)	(31,347)
Proceeds from other investments	45,871	13,589	30,962
Investments in other investments	(65,402)	(9,441)	(36,655)
Collection of mortgage principal	1,359	122,984	485
Net cash used in investing activities	(383,889)	(545,554)	(598,831)
Cash flows from financing activities
Proceeds from credit facility borrowings	1,826,000	900,000	511,000
Payments on credit facility borrowings	(1,681,000)	(1,141,000)	(343,000)
Receipts of other long-term borrowings	1,838,124	842,148	159,355
Payments of other long-term borrowings	(2,161,661)	(240,734)	(113,746)
Payments of financing related costs	(54,721)	(17,716)	(3,234)
Receipts from dividend reinvestment plan	150,847	71,487	55,825
Payments for exercised options and restricted stock - net	(26,706)	(3,577)	(5,774)
Net proceeds from issuance of common stock	439,322	61,981	278,373
Dividends paid	(358,232)	(258,501)	(218,116)
Distributions to OP Unit Holders	(11,636)
Net cash (used in) provided by financing activities	(39,663)	214,088	320,683
(Decrease) increase in cash and cash equivalents	(2,897)	1,873	905
Cash and cash equivalents at beginning of year	4,489	2,616	1,711
Cash and cash equivalents at end of year	1,592	4,489	2,616
Non - Guarantor Subsidiaries
Cash flows from operating activities
Net income	10,380	4,453	4,068
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,328	5,281	5,203
Provisions for uncollectible mortgages, notes and accounts receivable	1,905
Amortization of deferred financing costs and refinancing costs	(856)	21	16
Change in operating assets and liabilities - net of amounts assumed/acquired:
Straight-line rent receivables	(3,242)	(1,206)	(1,497)
Other operating assets and liabilities	16,715	(4,348)	(6,894)
Net cash provided by operating activities	43,230	4,201	896
Cash flows from investing activities
Acquisition of real estate - net of liabilities assumed and escrows acquired	(177,484)
Investment in U.K. subsidiary	165,760
Capital improvements to real estate investments	(1,798)	(2,391)
Net cash used in investing activities	(13,522)	(2,391)
Cash flows from financing activities
Payments of other long-term borrowings	(25,653)	(1,810)	(896)
Net cash (used in) provided by financing activities	(25,653)	(1,810)	(896)
(Decrease) increase in cash and cash equivalents	4,055
Effect of foreign currency translation on cash and cash equivalents	(223)
Cash and cash equivalents at end of year	3,832
Elimination Company
Cash flows from operating activities
Net income	(10,380)	(4,453)	(4,068)
Change in operating assets and liabilities - net of amounts assumed/acquired:
Other operating assets and liabilities	$ 10,380	$ 4,453	$ 4,068

CONSOLIDATING FINANCIAL STAT106

CONSOLIDATING FINANCIAL STATEMENTS (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Sep. 23, 2015	Mar. 18, 2015	Dec. 31, 2014	Sep. 11, 2014	Mar. 11, 2014	Mar. 19, 2012
Guarantor subsidiaries
Condensed Financial Statements, Captions [Line Items]
Ownership percent of the subsidiary guarantors (in percent)	100.00%
5.875% Notes due 2024
Condensed Financial Statements, Captions [Line Items]
Interest rate	5.875%
4.50% notes due 2025
Condensed Financial Statements, Captions [Line Items]
Interest rate	4.50%
5.25% notes due 2026 - net
Condensed Financial Statements, Captions [Line Items]
Interest rate	5.25%
4.50% notes due 2027 - net
Condensed Financial Statements, Captions [Line Items]
Interest rate	4.50%
Unsecured borrowings | 5.875% Notes due 2024
Condensed Financial Statements, Captions [Line Items]
Senior notes outstanding	$ 400,000			$ 400,000			$ 400,000
Interest rate	5.875%
Unsecured borrowings | 4.95% Notes due 2024
Condensed Financial Statements, Captions [Line Items]
Senior notes outstanding	$ 400,000			400,000		$ 400,000
Interest rate	4.95%
Unsecured borrowings | 4.50% notes due 2025
Condensed Financial Statements, Captions [Line Items]
Senior notes outstanding	$ 250,000			$ 250,000	$ 250,000
Interest rate	4.50%
Unsecured borrowings | 5.25% notes due 2026 - net
Condensed Financial Statements, Captions [Line Items]
Senior notes outstanding	$ 600,000	$ 600,000
Interest rate	5.25%
Unsecured borrowings | 4.50% notes due 2027 - net
Condensed Financial Statements, Captions [Line Items]
Senior notes outstanding	$ 700,000		$ 700,000
Interest rate	4.50%

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Detail) $ in Millions	1 Months Ended
	Feb. 01, 2016USD ($)FacilityBed	Jan. 29, 2016USD ($)	Dec. 31, 2015USD ($)Facility	Jun. 27, 2014USD ($)	Jun. 30, 2010Facility
Subsequent Event [Line Items]
Number of leased real estate properties			949
Project cost | $			$ 194.3
Unsecured borrowings
Subsequent Event [Line Items]
Credit facility, borrowing capacity | $				$ 1,200
SNF's
Subsequent Event [Line Items]
Number of leased real estate properties			782		143
Subsequent event | SNF's | Laurel Healthcare Holdings
Subsequent Event [Line Items]
Number of leased real estate properties	10
Purchase price of beds acquired paid in cash | $	$ 169
Number of beds | Bed	985
Percentage of initial annual cash yield	8.50%
Percentage of annual escalators	2.00%
Percentage of beneficially owned equity of Laurel	34.00%
Subsequent event | SNF's | Ohio | Laurel Healthcare Holdings
Subsequent Event [Line Items]
Number of leased real estate properties	6
Subsequent event | SNF's | VA | Laurel Healthcare Holdings
Subsequent Event [Line Items]
Number of leased real estate properties	3
Subsequent event | SNF's | Michigan | Laurel Healthcare Holdings
Subsequent Event [Line Items]
Number of leased real estate properties	1
Subsequent event | Omega Credit Agreement | Tranche A-3 Facility
Subsequent Event [Line Items]
Credit facility, borrowing capacity | $		$ 350
LIBOR plus an applicable percentage		150.00%
Subsequent event | Omega Credit Agreement | Revolving Credit Facility or one or more tranches of incremental term loans
Subsequent Event [Line Items]
Credit facility, borrowing capacity | $		$ 250
Subsequent event | Omega Credit Agreement | Maximum | Tranche A-3 Facility
Subsequent Event [Line Items]
LIBOR plus an applicable percentage		195.00%
Subsequent event | Omega Credit Agreement | Minimum | Tranche A-3 Facility
Subsequent Event [Line Items]
LIBOR plus an applicable percentage		100.00%

SCHEDULE III REAL ESTATE AND108

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 6,428,684,793
Cost Capitalized Subsequent to Acquisition Improvements	[1]	363,427,234
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(32,923,712)
Cost Capitalized Subsequent to Acquisition Other	[1]	(15,230,617)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements		6,743,957,698	$ 3,223,785,295	$ 3,099,547,182	$ 3,038,552,898
Accumulated Depreciation		1,019,149,678	$ 821,711,991	$ 707,409,888	$ 580,373,211
Maplewood
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	340,107,660
Cost Capitalized Subsequent to Acquisition Improvements	[1]	154,139,152
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	494,246,812
Accumulated Depreciation	[1],[3]	6,397,870
Maplewood | Connecticut
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	238,354,341
Cost Capitalized Subsequent to Acquisition Improvements	[1]	1,800,767
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	240,155,108
Accumulated Depreciation	[1],[3]	$ 4,620,737
Date Of Construction	[1]	1968-2015
Date Acquired	[1]	2,015
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Maplewood | NEW YORK
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 0
Cost Capitalized Subsequent to Acquisition Improvements	[1]	116,423,931
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	$ 116,423,931
Accumulated Depreciation	[1],[3]
Date Acquired	[1]	2,015
Maplewood | Massachusetts
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 89,889,681
Cost Capitalized Subsequent to Acquisition Improvements	[1]	23,799,252
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	113,688,933
Accumulated Depreciation	[1],[3]	$ 1,583,999
Date Of Construction	[1]	1988-1994
Date Acquired	[1]	2,015
Maplewood | Massachusetts | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	30 years
Maplewood | Massachusetts | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Maplewood | Ohio
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 11,863,638
Cost Capitalized Subsequent to Acquisition Improvements	[1]	12,115,202
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	23,978,840
Accumulated Depreciation	[1],[3]	$ 193,134
Date Of Construction	[1]	1,999
Date Acquired	[1]	2,015
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Daybreak Venture LLC
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 357,697,554
Cost Capitalized Subsequent to Acquisition Improvements	[1]	5,534,280
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	363,231,834
Accumulated Depreciation	[1],[3]	15,500,930
Daybreak Venture LLC | Missouri
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	16,599,859
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	16,599,859
Accumulated Depreciation	[1],[3]	$ 591,701
Date Of Construction	[1]	1967-1992
Date Acquired	[1]	2,015
Daybreak Venture LLC | Missouri | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	26 years
Daybreak Venture LLC | Missouri | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Daybreak Venture LLC | Texas
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 341,097,695
Cost Capitalized Subsequent to Acquisition Improvements	[1]	5,534,280
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	346,631,975
Accumulated Depreciation	[1],[3]	$ 14,909,229
Date Of Construction	[1]	1955-2015
Date Acquired	[1]	2010-2015
Daybreak Venture LLC | Texas | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Daybreak Venture LLC | Texas | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Genesis Healthcare
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 331,654,645
Cost Capitalized Subsequent to Acquisition Improvements	[1]	36,922,407
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(8,257,521)
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	360,319,531
Accumulated Depreciation	[1],[3]	151,064,728
Genesis Healthcare | Alabama
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	23,584,956
Cost Capitalized Subsequent to Acquisition Improvements	[1]	6,523,220
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	30,108,176
Accumulated Depreciation	[1],[3]	$ 16,153,134
Date Of Construction	[1]	1964-1974
Date Acquired	[1]	1,997
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Genesis Healthcare | California
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 15,618,263
Cost Capitalized Subsequent to Acquisition Improvements	[1]	26,652
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	15,644,915
Accumulated Depreciation	[1],[3]	$ 8,181,493
Date Of Construction	[1]	1927-1972
Date Acquired	[1]	1,997
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Genesis Healthcare | Colorado
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 38,341,877
Cost Capitalized Subsequent to Acquisition Improvements	[1]	5,444,311
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	43,786,188
Accumulated Depreciation	[1],[3]	$ 12,219,868
Date Of Construction	[1]	1963-1975
Date Acquired	[1]	2,006
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Genesis Healthcare | Idaho
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 19,491,960
Cost Capitalized Subsequent to Acquisition Improvements	[1]	974,012
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	20,465,972
Accumulated Depreciation	[1],[3]	$ 5,550,009
Date Of Construction	[1]	1920-1987
Date Acquired	[1]	1997-2015
Genesis Healthcare | Idaho | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Genesis Healthcare | Idaho | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Genesis Healthcare | Massachusetts
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 71,446,102
Cost Capitalized Subsequent to Acquisition Improvements	[1]	2,660,093
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(8,257,521)
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	65,848,674
Accumulated Depreciation	[1],[3]	$ 21,355,093
Date Of Construction	[1]	1866-1993
Date Acquired	[1]	1997-2015
Genesis Healthcare | Massachusetts | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Genesis Healthcare | Massachusetts | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Genesis Healthcare | New Hampshire
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 21,619,503
Cost Capitalized Subsequent to Acquisition Improvements	[1]	1,462,797
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	23,082,300
Accumulated Depreciation	[1],[3]	$ 7,819,421
Date Of Construction	[1]	1963-1999
Date Acquired	[1]	1998-2006
Genesis Healthcare | New Hampshire | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Genesis Healthcare | New Hampshire | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Genesis Healthcare | North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 22,652,488
Cost Capitalized Subsequent to Acquisition Improvements	[1]	3,550,986
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	26,203,474
Accumulated Depreciation	[1],[3]	$ 16,264,936
Date Of Construction	[1]	1964-1986
Date Acquired	[1]	1994-1997
Genesis Healthcare | North Carolina | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	30 years
Genesis Healthcare | North Carolina | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Genesis Healthcare | Ohio
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 11,653,451
Cost Capitalized Subsequent to Acquisition Improvements	[1]	20,246
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	11,673,697
Accumulated Depreciation	[1],[3]	$ 6,217,229
Date Of Construction	[1]	1968-1983
Date Acquired	[1]	1,997
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Genesis Healthcare | Rhode Island
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 38,740,812
Cost Capitalized Subsequent to Acquisition Improvements	[1]	4,792,882
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	43,533,694
Accumulated Depreciation	[1],[3]	$ 14,693,658
Date Of Construction	[1]	1965-1981
Date Acquired	[1]	2,006
Genesis Healthcare | Rhode Island | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	25 years
Genesis Healthcare | Rhode Island | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Genesis Healthcare | Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 7,905,139
Cost Capitalized Subsequent to Acquisition Improvements	[1]	2,537,508
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	10,442,647
Accumulated Depreciation	[1],[3]	$ 6,268,623
Date Of Construction	[1]	1984-1985
Date Acquired	[1]	1,994
Life on Which Depreciation in Latest Income Statements is Computed	[1]	30 years
Genesis Healthcare | Vermont
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 6,322,888
Cost Capitalized Subsequent to Acquisition Improvements	[1]	602,296
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	6,925,184
Accumulated Depreciation	[1],[3]	$ 2,237,449
Date Of Construction	[1]	1,971
Date Acquired	[1]	2,004
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Genesis Healthcare | Washington
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 10,000,000
Cost Capitalized Subsequent to Acquisition Improvements	[1]	1,798,844
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	11,798,844
Accumulated Depreciation	[1],[3]	$ 11,034,888
Date Of Construction	[1]	1,965
Date Acquired	[1]	1,995
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Genesis Healthcare | West Virginia
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 44,277,206
Cost Capitalized Subsequent to Acquisition Improvements	[1]	6,528,560
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	50,805,766
Accumulated Depreciation	[1],[3]	$ 23,068,927
Date Of Construction	[1]	1961-1986
Date Acquired	[1]	1997-2008
Genesis Healthcare | West Virginia | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	25 years
Genesis Healthcare | West Virginia | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Other
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 5,399,224,934
Cost Capitalized Subsequent to Acquisition Improvements	[1]	166,831,395
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(24,666,191)
Cost Capitalized Subsequent to Acquisition Other	[1]	(15,230,617)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	5,526,159,521
Accumulated Depreciation	[1],[3]	846,186,150
Other | Connecticut
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	5,324,200
Cost Capitalized Subsequent to Acquisition Improvements	[1]	980,393
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(5,425,656)
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	878,937
Accumulated Depreciation	[1],[3]	$ 0
Date Of Construction	[1]	1,965
Date Acquired	[1]	1,999
Other | Alabama
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 11,588,534
Cost Capitalized Subsequent to Acquisition Improvements	[1]	6,392,567
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	17,981,101
Accumulated Depreciation	[1],[3]	$ 12,588,052
Date Of Construction	[1]	1960-1982
Date Acquired	[1]	1,992
Life on Which Depreciation in Latest Income Statements is Computed	[1]	31 years 6 months
Other | Arizona
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 133,762,829
Cost Capitalized Subsequent to Acquisition Improvements	[1]	5,712,049
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(6,603,745)
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	132,871,133
Accumulated Depreciation	[1],[3]	$ 21,508,043
Date Of Construction	[1]	1949-1999
Date Acquired	[1]	1998-2015
Other | Arizona | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Arizona | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Arkansas
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1],[4]	$ 201,572,337
Cost Capitalized Subsequent to Acquisition Improvements	[1],[3],[4]	13,169,759
Cost Capitalized Subsequent to Acquisition Impairment	[1],[3],[4]	(36,350)
Cost Capitalized Subsequent to Acquisition Other	[1],[3],[4]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2],[3],[4]	214,705,746
Accumulated Depreciation	[1],[3],[4]	$ 48,640,738
Date Of Construction	[1],[4]	1960-2009
Date Acquired	[1],[4]	1992-2015
Other | Arkansas | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1],[4]	20 years
Other | Arkansas | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1],[4]	40 years
Other | California
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 490,902,316
Cost Capitalized Subsequent to Acquisition Improvements	[1]	3,492,869
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	494,395,185
Accumulated Depreciation	[1],[3]	$ 33,730,723
Date Of Construction	[1]	1938-2013
Date Acquired	[1]	1997-2015
Other | California | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | California | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Colorado
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 33,527,071
Cost Capitalized Subsequent to Acquisition Improvements	[1]	2,346,167
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	35,873,238
Accumulated Depreciation	[1],[3]	$ 13,344,365
Date Of Construction	[1]	1958-1973
Date Acquired	[1]	1998-2011
Other | Colorado | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Colorado | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Other | Florida
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 667,833,234
Cost Capitalized Subsequent to Acquisition Improvements	[1]	23,362,442
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(6,951,897)
Cost Capitalized Subsequent to Acquisition Other	[1]	(2,784,718)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	681,459,061
Accumulated Depreciation	[1],[3]	$ 174,698,077
Date Of Construction	[1]	1925-2009
Date Acquired	[1]	1992-2015
Other | Florida | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Florida | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Georgia
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 43,096,820
Cost Capitalized Subsequent to Acquisition Improvements	[1]	3,950,028
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	47,046,848
Accumulated Depreciation	[1],[3]	$ 11,480,058
Date Of Construction	[1]	1964-1998
Date Acquired	[1]	1998-2015
Other | Georgia | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Georgia | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	37 years 6 months
Other | Idaho
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 50,889,041
Cost Capitalized Subsequent to Acquisition Improvements	[1]	341,170
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	51,230,211
Accumulated Depreciation	[1],[3]	$ 4,238,429
Date Of Construction	[1]	1911-2008
Date Acquired	[1]	1999-2015
Other | Idaho | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Idaho | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Illinois
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 118,108,747
Cost Capitalized Subsequent to Acquisition Improvements	[1]	510,576
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	118,619,323
Accumulated Depreciation	[1],[3]	$ 10,750,250
Date Of Construction	[1]	1926-1990
Date Acquired	[1]	1996-2015
Other | Illinois | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Illinois | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Indiana
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 402,853,211
Cost Capitalized Subsequent to Acquisition Improvements	[1]	2,332,364
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(3,419,264)
Cost Capitalized Subsequent to Acquisition Other	[1]	(2,296,391)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	399,469,920
Accumulated Depreciation	[1],[3]	$ 61,998,182
Date Of Construction	[1]	1923-2008
Date Acquired	[1]	1992-2015
Other | Indiana | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Indiana | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Iowa
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 70,549,074
Cost Capitalized Subsequent to Acquisition Improvements	[1]	2,084,807
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	72,633,881
Accumulated Depreciation	[1],[3]	$ 10,408,588
Date Of Construction	[1]	1961-1998
Date Acquired	[1]	1997-2015
Other | Iowa | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Iowa | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	35 years
Other | Kansas
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 53,836,542
Cost Capitalized Subsequent to Acquisition Improvements	[1]	3,453,770
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	57,290,312
Accumulated Depreciation	[1],[3]	$ 2,930,226
Date Of Construction	[1]	1957-1985
Date Acquired	[1]	2010-2015
Other | Kansas | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Kansas | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Kentucky
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 174,052,192
Cost Capitalized Subsequent to Acquisition Improvements	[1]	10,314,747
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	184,366,939
Accumulated Depreciation	[1],[3]	$ 31,640,307
Date Of Construction	[1]	1917-2002
Date Acquired	[1]	1994-2015
Other | Kentucky | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Kentucky | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Louisiana
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 55,046,915
Cost Capitalized Subsequent to Acquisition Improvements	[1]	1,748,900
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	56,795,815
Accumulated Depreciation	[1],[3]	$ 16,408,775
Date Of Construction	[1]	1957-1983
Date Acquired	[1]	1997-2006
Other | Louisiana | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Other | Louisiana | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Other | Maryland
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 77,361,184
Cost Capitalized Subsequent to Acquisition Improvements	[1]	1,787,838
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	79,149,022
Accumulated Depreciation	[1],[3]	$ 17,002,780
Date Of Construction	[1]	1921-1985
Date Acquired	[1]	2010-2011
Other | Maryland | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	25 years
Other | Maryland | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	30 years
Other | Massachusetts
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 5,804,554
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	5,804,554
Accumulated Depreciation	[1],[3]	$ 2,015,500
Date Of Construction	[1]	1,964
Date Acquired	[1]	2,009
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Michigan
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 168,554,079
Cost Capitalized Subsequent to Acquisition Improvements	[1]	25,000
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	168,579,079
Accumulated Depreciation	[1],[3]	$ 9,134,074
Date Of Construction	[1]	1964-1997
Date Acquired	[1]	2011-2015
Other | Michigan | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	25 years
Other | Michigan | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	38 years
Other | Mississippi
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 52,416,905
Cost Capitalized Subsequent to Acquisition Improvements	[1]	826,654
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	53,243,559
Accumulated Depreciation	[1],[3]	$ 12,492,706
Date Of Construction	[1]	1962-1988
Date Acquired	[1]	2009-2010
Other | Mississippi | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Mississippi | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Missouri
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 130,105,483
Cost Capitalized Subsequent to Acquisition Improvements	[1]	518,236
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(149,386)
Cost Capitalized Subsequent to Acquisition Other	[1]	(3,189)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	130,471,144
Accumulated Depreciation	[1],[3]	$ 9,968,625
Date Of Construction	[1]	1955-1994
Date Acquired	[1]	1999-2015
Other | Missouri | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Missouri | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Nevada
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 56,460,311
Cost Capitalized Subsequent to Acquisition Improvements	[1]	6,520,453
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	62,980,764
Accumulated Depreciation	[1],[3]	$ 7,138,584
Date Of Construction	[1]	1972-2004
Date Acquired	[1]	2009-2015
Other | Nevada | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	26 years
Other | Nevada | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | New Mexico
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 77,417,687
Cost Capitalized Subsequent to Acquisition Improvements	[1]	130,323
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	77,548,010
Accumulated Depreciation	[1],[3]	$ 4,505,927
Date Of Construction	[1]	1960-1989
Date Acquired	[1]	2008-2015
Other | New Mexico | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | New Mexico | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 102,450,560
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	102,450,560
Accumulated Depreciation	[1],[3]	$ 10,067,103
Date Of Construction	[1]	1927-1992
Date Acquired	[1]	2010-2015
Other | North Carolina | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	25 years
Other | North Carolina | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	36 years
Other | Ohio
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 714,157,279
Cost Capitalized Subsequent to Acquisition Improvements	[1]	39,057,863
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	(540,000)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	752,675,142
Accumulated Depreciation	[1],[3]	$ 126,494,171
Date Of Construction	[1]	1920-2008
Date Acquired	[1]	1994-2015
Other | Ohio | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Ohio | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Oklahoma
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 45,178,160
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	45,178,160
Accumulated Depreciation	[1],[3]	$ 6,495,153
Date Of Construction	[1]	1965-2013
Date Acquired	[1]	2010-2015
Other | Oklahoma | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Oklahoma | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	37 years
Other | Oregon
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 50,133,027
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	50,133,027
Accumulated Depreciation	[1],[3]	$ 1,355,373
Date Of Construction	[1]	1959-2004
Date Acquired	[1]	2014-2015
Other | Oregon | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Oregon | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Pennsylvania
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 351,858,552
Cost Capitalized Subsequent to Acquisition Improvements	[1]	11,281,116
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	363,139,668
Accumulated Depreciation	[1],[3]	$ 60,983,104
Date Of Construction	[1]	1873-2012
Date Acquired	[1]	1998-2015
Other | Pennsylvania | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Pennsylvania | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | South Carolina
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 57,482,493
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	57,482,493
Accumulated Depreciation	[1],[3]	$ 3,000,884
Date Of Construction	[1]	1959-1990
Date Acquired	[1]	2014-2015
Other | South Carolina | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | South Carolina | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	30 years
Other | Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 98,233,849
Cost Capitalized Subsequent to Acquisition Improvements	[1]	8,046,100
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	106,279,949
Accumulated Depreciation	[1],[3]	$ 35,719,553
Date Of Construction	[1]	1958-1983
Date Acquired	[1]	1992-2015
Other | Tennessee | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Tennessee | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Texas
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 348,007,669
Cost Capitalized Subsequent to Acquisition Improvements	[1]	15,500,178
Cost Capitalized Subsequent to Acquisition Impairment	[1]	(2,079,893)
Cost Capitalized Subsequent to Acquisition Other	[1]	(1,820,356)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	359,607,598
Accumulated Depreciation	[1],[3]	$ 55,453,711
Date Of Construction	[1]	1952-2014
Date Acquired	[1]	1997-2015
Other | Texas | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Texas | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Washington
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 152,778,525
Cost Capitalized Subsequent to Acquisition Improvements	[1]	65,607
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	152,844,132
Accumulated Depreciation	[1],[3]	$ 6,493,557
Date Of Construction	[1]	1930-2004
Date Acquired	[1]	1999-2015
Other | Washington | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Washington | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | West Virginia
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 24,641,423
Cost Capitalized Subsequent to Acquisition Improvements	[1]	348,642
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	24,990,065
Accumulated Depreciation	[1],[3]	$ 6,690,397
Date Of Construction	[1]	1961-1996
Date Acquired	[1]	1994-2011
Other | West Virginia | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	33 years
Other | West Virginia | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Other | Wisconsin
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 60,601,506
Cost Capitalized Subsequent to Acquisition Improvements	[1]	2,369,865
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	(1,500)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	62,969,871
Accumulated Depreciation	[1],[3]	$ 9,600,375
Date Of Construction	[1]	1930-1994
Date Acquired	[1]	2009-2015
Other | Wisconsin | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Wisconsin | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	28 years
Other | Minnesota
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 61,256,047
Cost Capitalized Subsequent to Acquisition Improvements	[1]	160,912
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	61,416,959
Accumulated Depreciation	[1],[3]	$ 1,696,595
Date Of Construction	[1]	1958-1983
Date Acquired	[1]	2,015
Other | Minnesota | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	25 years
Other | Minnesota | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	40 years
Other | Nebraska
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 24,713,411
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	24,713,411
Accumulated Depreciation	[1],[3]	$ 833,206
Date Of Construction	[1]	1963-1969
Date Acquired	[1]	2,015
Other | Nebraska | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	20 years
Other | Nebraska | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	30 years
Other | United Kingdom
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 177,484,058
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	(7,784,463)
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	169,699,595
Accumulated Depreciation	[1],[3]	$ 3,639,903
Date Of Construction	[1]	1750-2000
Date Acquired	[1]	2,015
Life on Which Depreciation in Latest Income Statements is Computed	[1]	30 years
Other | Utah
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 3,620,000
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	3,620,000
Accumulated Depreciation	[1],[3]	$ 124,908
Date Of Construction	[1]	1,977
Date Acquired	[1]	2,015
Life on Which Depreciation in Latest Income Statements is Computed	[1]	24 years
Other | Virginia
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 32,642,987
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	32,642,987
Accumulated Depreciation	[1],[3]	$ 550,145
Date Of Construction	[1]	1,995
Date Acquired	[1]	2,015
Other | Virginia | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	35 years
Other | Virginia | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	39 years
Other | Montana
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company Buildings and Land Improvements	[1]	$ 12,922,122
Cost Capitalized Subsequent to Acquisition Improvements	[1]	0
Cost Capitalized Subsequent to Acquisition Impairment	[1]	0
Cost Capitalized Subsequent to Acquisition Other	[1]	0
Total Gross Amount at Which Carried at Close of Period Buildings and Land Improvements	[1],[2]	12,922,122
Accumulated Depreciation	[1],[3]	$ 365,003
Date Of Construction	[1]	1963-1971
Date Acquired	[1]	2,015
Other | Montana | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	28 years
Other | Montana | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation in Latest Income Statements is Computed	[1]	35 years
[1]	The real estate included in this schedule is being used in either the operation of skilled nursing facilities (SNF), assisted living facilities (AL), independent living facilities (ILF), tramatic brain injury (TBI), medical office building (MOB) or specialty hospitals (SH) located in the states indicated.
[2]	Year Ended December 31,2013 2014 2013 Balance at beginning of period $ 3,038,552,898 $ 3,099,547,182 $ 3,223,785,295 Acquisitions 5,529,419, 131,689,483,3,371,233,860 Impairment (414,687), (3,660,381), (12,916,233) Improvements 31,346,919, 17,916,855, 220,272,401 Disposals/other (5,467,367), (21,707,844),(58,417,625) Balance at close of period 3,099,547,182, $3,223,785,295,$ 6,743,957,698
[3]	2013,2014, 2015 Balance at beginning of period $580,373,211,$ 707,409,888, $821,711,991, Provisions for depreciation 128,523,788,123,141,880 , 210,554,569 Dispositions/other (1,487,111), (8,839,777) ,(13,116,882) Balance at close of period $707,409,888, $821,711,991,$1,019,149,678
[4]	Certain of the real estate indicated are security for the HUD loan borrowings totaling $56,204,170 at December 31, 2015.

SCHEDULE III REAL ESTATE AND109

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Detail 1) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Secured borrowings | HUD mortgages assumed December 2011
Debt Instrument [Line Items]
Long-term borrowing amount, secured borrowings	[1]	$ 56,204	$ 57,416
[1]	Reflects the weighted average annual contractual interest rate on the mortgages at December 31, 2015 excluding a third-party administration fee of approximately 0.5%. Secured by real estate assets with a net carrying value of $95.4 million.

SCHEDULE III REAL ESTATE AND110

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Detail 2) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at beginning of period	$ 3,223,785,295	$ 3,099,547,182	$ 3,038,552,898
Acquisitions	3,371,233,860	131,689,483	35,529,419
Impairment	(12,916,233)	(3,660,381)	(414,687)
Improvements	220,272,401	17,916,855	31,346,919
Disposals/other	(58,417,625)	(21,707,844)	(5,467,367)
Balance at close of period	6,743,957,698	3,223,785,295	3,099,547,182
Reconciliation of real estate accumulated depreciation
Balance at beginning of period	821,711,991	707,409,888	580,373,211
Provisions for depreciation	210,554,569	123,141,880	128,523,788
Dispositions/other	(13,116,882)	(8,839,777)	(1,487,111)
Balance at close of period	$ 1,019,149,678	$ 821,711,991	$ 707,409,888

SCHEDULE III REAL ESTATE AND111

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Detail 3) $ in Billions	Dec. 31, 2015USD ($)
Real Estate and Accumulated Depreciation Disclosure [Abstract]
Reported amount of real estate in excess of the tax basis	$ 1.1

SCHEDULE IV MORTGAGE LOANS O112

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)
Mortgage Loans on Real Estate [Line Items]
Face Amount of Mortgages	$ 686,522,497
Carrying Amount of Mortgages	$ 679,795,236
Florida | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	11.04%	[1]
Final Maturity Date	2,030	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	15,900,000	[1]
Carrying Amount of Mortgages	15,780,156	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Louisiana | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.75%	[1]
Final Maturity Date	2,018	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	2,939,312	[1]
Carrying Amount of Mortgages	2,939,312	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Maryland | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	11.00%	[1]
Final Maturity Date	2,023	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	74,927,751	[1]
Carrying Amount of Mortgages	69,927,759	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Maryland | Group 2
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,046	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	10,000,000	[1]
Carrying Amount of Mortgages	10,000,000	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Maryland | Group 3
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,046	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	9,500,000	[1]
Carrying Amount of Mortgages	9,500,000	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Maryland | Group 4
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,046	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	5,500,000	[1]
Carrying Amount of Mortgages	5,500,000	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	9.23%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest plus $96,000 of principal payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	415,000,000	[1]
Carrying Amount of Mortgages	413,399,042	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 2
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.51%	[1]
Final Maturity Date	2,021	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	3,382,260	[1]
Carrying Amount of Mortgages	3,382,260	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 3
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.00%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	692,446	[1]
Carrying Amount of Mortgages	692,446	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 4
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.00%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	439,925	[1]
Carrying Amount of Mortgages	439,925	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 5
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.25%	[1]
Final Maturity Date	2,021	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	3,521,113	[1]
Carrying Amount of Mortgages	3,521,113	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 6
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.00%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	175,900	[1]
Carrying Amount of Mortgages	175,900	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 7
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.00%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	49,008	[1]
Carrying Amount of Mortgages	49,008	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 8
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.00%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	66,087	[1]
Carrying Amount of Mortgages	66,087	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 9
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.00%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	674,541	[1]
Carrying Amount of Mortgages	674,541	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 10
Mortgage Loans on Real Estate [Line Items]
Interest Rate	10.00%	[1]
Final Maturity Date	2,029	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	384,343	[1]
Carrying Amount of Mortgages	384,343	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Michigan | Group 11
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,046	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	1,500,000	[1]
Carrying Amount of Mortgages	1,500,000	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Missouri and Tennessee | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.35%	[1]
Final Maturity Date	2,015	[1]
Periodic Payment Terms	Interest plus $8,800 of principal payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	6,997,610	[1]
Carrying Amount of Mortgages	6,445,399	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Ohio and Pennsylvania | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	9.64%	[1]
Final Maturity Date	2,024	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	112,500,000	[1]
Carrying Amount of Mortgages	112,500,000	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Ohio | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,022	[1]
Periodic Payment Terms	Interest plus $2,400 of principal payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	6,112,406	[1]
Carrying Amount of Mortgages	6,023,197	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Ohio | Group 2
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,022	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	345,011	[1]
Carrying Amount of Mortgages	345,011	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Ohio | Group 3
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,022	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	796,397	[1]
Carrying Amount of Mortgages	796,397	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Ohio | Group 4
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,022	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	112,100	[1]
Carrying Amount of Mortgages	112,100	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Ohio | Group 5
Mortgage Loans on Real Estate [Line Items]
Interest Rate	12.00%	[1]
Final Maturity Date	2,022	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	194,806	[1]
Carrying Amount of Mortgages	194,806	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Ohio | Group 6
Mortgage Loans on Real Estate [Line Items]
Interest Rate	11.42%	[1]
Final Maturity Date	2,018	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	11,874,013	[1]
Carrying Amount of Mortgages	12,508,966	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
South Carolina | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.75%	[1]
Final Maturity Date	2,018	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	1,134,935	[1]
Carrying Amount of Mortgages	1,134,935	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
Virginia | Group 1
Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.75%	[1]
Final Maturity Date	2,018	[1]
Periodic Payment Terms	Interest payable monthly	[1]
Prior Liens	$ 0	[1]
Face Amount of Mortgages	1,802,533	[1]
Carrying Amount of Mortgages	1,802,533	[1],[2],[3]
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0	[1]
[1]	Mortgage loans included in this schedule represent first mortgages on facilities used in the delivery of long-term healthcare of which such facilities are located in the states indicated.
[2]	The aggregate cost for federal income tax purposes is equal to the carrying amount.
[3]	Year Ended December 31, 2013 2014 2015 Balance at beginning of period $ 238,621,161, $ 241,514,812, $ 648,078,550 Additions during period Placements 3,378,357, 529,547,836, 33,288,320 Deductions during period - collection of principal/other(484,706)(122,984,098)(1,571,634) Balance at close of period $ 241,514,812$ 648,078,550 $ 679,795,236

SCHEDULE IV MORTGAGE LOANS O113

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE (Detail 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of period	$ 648,078,550	$ 241,514,812	$ 238,621,161
Additions during period - Placements	33,288,320	529,547,836	3,378,357
Deductions during period - collection of principal/other	(1,571,634)	(122,984,098)	(484,706)
Balance at close of period	$ 679,795,236	$ 648,078,550	$ 241,514,812