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v3.22.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
Summary Information for Reportable Segments | Summary information for the reportable segments (which excludes unconsolidated entities) is as follows (in thousands):
Three Months Ended March 31, 2022: |  | Seniors Housing Operating |  | Triple-net |  | Outpatient Medical |  | Non-segment / Corporate |  | Total
Resident fees and services |  | $ | 994,335 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 994,335 |
Rental income |  | — |  |  | 196,001 |  |  | 160,389 |  |  | — |  |  | 356,390 |
Interest income |  | 1,417 |  |  | 37,506 |  |  | 71 |  |  | — |  |  | 38,994 |
Other income |  | 860 |  |  | 1,656 |  |  | 2,863 |  |  | 606 |  |  | 5,985 |
Total revenues |  | 996,612 |  |  | 235,163 |  |  | 163,323 |  |  | 606 |  |  | 1,395,704 |
Property operating expenses |  | 789,928 |  |  | 11,211 |  |  | 49,915 |  |  | 2,615 |  |  | 853,669 |
Consolidated net operating income (loss) |  | 206,684 |  |  | 223,952 |  |  | 113,408 |  |  | (2,009) |  |  | 542,035 |
Depreciation and amortization |  | 192,793 |  |  | 53,504 |  |  | 57,791 |  |  | — |  |  | 304,088 |
Interest expense |  | 7,650 |  |  | 314 |  |  | 4,567 |  |  | 109,165 |  |  | 121,696 |
General and administrative expenses |  | — |  |  | — |  |  | — |  |  | 37,706 |  |  | 37,706 |
Loss (gain) on derivatives and financial instruments, net |  | — |  |  | 2,578 |  |  | — |  |  | — |  |  | 2,578 |
Loss (gain) on extinguishment of debt, net |  | (15) |  |  | — |  |  | 3 |  |  | — |  |  | (12) |
Provision for loan losses, net |  | 267 |  |  | (1,065) |  |  | (6) |  |  | — |  |  | (804) |
Other expenses |  | 8,191 |  |  | 11,044 |  |  | 789 |  |  | 6,045 |  |  | 26,069 |
Income (loss) from continuing operations before income taxes and other items |  | (2,202) |  |  | 157,577 |  |  | 50,264 |  |  | (154,925) |  |  | 50,714 |
Income tax (expense) benefit |  | — |  |  | — |  |  | — |  |  | (5,013) |  |  | (5,013) |
Income (loss) from unconsolidated entities |  | (17,782) |  |  | 15,543 |  |  | (645) |  |  | — |  |  | (2,884) |
Gain (loss) on real estate dispositions, net |  | 2,701 |  |  | 20,449 |  |  | (216) |  |  | — |  |  | 22,934 |
Income (loss) from continuing operations |  | (17,283) |  |  | 193,569 |  |  | 49,403 |  |  | (159,938) |  |  | 65,751 |
Net income (loss) |  | $ | (17,283) |  |  | $ | 193,569 |  |  | $ | 49,403 |  |  | $ | (159,938) |  |  | $ | 65,751 |
Total assets |  | $ | 19,986,904 |  |  | $ | 8,986,422 |  |  | $ | 6,333,821 |  |  | $ | 165,306 |  |  | $ | 35,472,453 |
Three Months Ended March 31, 2021: |  | Seniors Housing Operating |  | Triple-net |  | Outpatient Medical |  | Non-segment / Corporate |  | Total
Resident fees and services |  | $ | 723,464 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 723,464 |
Rental income |  | — |  |  | 152,463 |  |  | 150,380 |  |  | — |  |  | 302,843 |
Interest income |  | 1,119 |  |  | 14,922 |  |  | 3,538 |  |  | — |  |  | 19,579 |
Other income |  | 1,819 |  |  | 1,097 |  |  | 2,305 |  |  | 955 |  |  | 6,176 |
Total revenues |  | 726,402 |  |  | 168,482 |  |  | 156,223 |  |  | 955 |  |  | 1,052,062 |
Property operating expenses |  | 555,968 |  |  | 12,841 |  |  | 46,863 |  |  | 1,654 |  |  | 617,326 |
Consolidated net operating income (loss) |  | 170,434 |  |  | 155,641 |  |  | 109,360 |  |  | (699) |  |  | 434,736 |
Depreciation and amortization |  | 132,586 |  |  | 56,667 |  |  | 55,173 |  |  | — |  |  | 244,426 |
Interest expense |  | 11,418 |  |  | 1,882 |  |  | 4,015 |  |  | 105,827 |  |  | 123,142 |
General and administrative expenses |  | — |  |  | — |  |  | — |  |  | 29,926 |  |  | 29,926 |
Loss (gain) on derivatives and financial instruments, net |  | — |  |  | 1,934 |  |  | — |  |  | — |  |  | 1,934 |
Loss (gain) on extinguishment of debt, net |  | (4,643) |  |  | — |  |  | — |  |  | — |  |  | (4,643) |
Provision for loan losses, net |  | 251 |  |  | 853 |  |  | 279 |  |  | — |  |  | 1,383 |
Impairment of assets |  | 4,604 |  |  | 18,964 |  |  | — |  |  | — |  |  | 23,568 |
Other expenses |  | 3,459 |  |  | 4,983 |  |  | 712 |  |  | 1,840 |  |  | 10,994 |
Income (loss) from continuing operations before income taxes and other items |  | 22,759 |  |  | 70,358 |  |  | 49,181 |  |  | (138,292) |  |  | 4,006 |
Income tax (expense) benefit |  | — |  |  | — |  |  | — |  |  | (3,943) |  |  | (3,943) |
Income (loss) from unconsolidated entities |  | 5,234 |  |  | 4,907 |  |  | 2,908 |  |  | — |  |  | 13,049 |
Gain (loss) on real estate dispositions, net |  | 5,195 |  |  | 2,042 |  |  | 51,843 |  |  | — |  |  | 59,080 |
Income (loss) from continuing operations |  | 33,188 |  |  | 77,307 |  |  | 103,932 |  |  | (142,235) |  |  | 72,192 |
Net income (loss) |  | $ | 33,188 |  |  | $ | 77,307 |  |  | $ | 103,932 |  |  | $ | (142,235) |  |  | $ | 72,192 |
Summary of Geographic Information | The following is a summary of geographic information for the periods presented (dollars in thousands):
|  | Three Months Ended |  |
|  | March 31, 2022 |  | March 31, 2021 |  |  |  |
Revenues: |  | Amount(1) |  | % |  | Amount |  | % |  |  |  |  |  |  |  |
United States |  | $ | 1,139,016 |  |  | 81.6 | % |  | $ | 825,648 |  |  | 78.5 | % |  |  |  |  |  |  |  |
United Kingdom |  | 144,491 |  |  | 10.4 | % |  | 118,874 |  |  | 11.3 | % |  |  |  |  |  |  |  |
Canada |  | 112,197 |  |  | 8.0 | % |  | 107,540 |  |  | 10.2 | % |  |  |  |  |  |  |  |
Total |  | $ | 1,395,704 |  |  | 100.0 | % |  | $ | 1,052,062 |  |  | 100.0 | % |  |  |  |  |  |  |  |
|  | As of |  |
|  | March 31, 2022 |  | December 31, 2021 |  |  |  |
Assets: |  | Amount |  | % |  | Amount |  | % |  |  |  |  |  |  |  |
United States |  | $ | 28,821,624 |  |  | 81.2 | % |  | $ | 28,595,703 |  |  | 81.9 | % |  |  |  |  |  |  |  |
United Kingdom |  | 3,822,998 |  |  | 10.8 | % |  | 3,938,258 |  |  | 11.3 | % |  |  |  |  |  |  |  |
Canada |  | 2,827,831 |  |  | 8.0 | % |  | 2,376,364 |  |  | 6.8 | % |  |  |  |  |  |  |  |
Total |  | $ | 35,472,453 |  |  | 100.0 | % |  | $ | 34,910,325 |  |  | 100.0 | % |  |  |  |  |  |  |  |
(1) The United States, United Kingdom and Canada represent 79%, 10% and 11% of our resident fees and services revenue for the three month period ended March 31, 2022.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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