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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Summary information by reportable business segment

Summary information by reportable business segment is as follows (dollars in thousands):

			For the Three Months Ended September 30, 2024
			SHOP						OM&R						NNN						Non-Segment						Total
Revenues
Rental income			$	—					$	220,957					$	155,349					$	—					$	376,306
Resident fees and services			845,532						—						—						—						845,532
Third party capital management revenues			—						618						—						3,774						4,392
Income from loans and investments			—						—						—						1,881						1,881
Interest and other income			—						—						—						8,204						8,204
Total revenues			$	845,532					$	221,575					$	155,349					$	13,859					$	1,236,315
Total revenues			$	845,532					$	221,575					$	155,349					$	13,859					$	1,236,315
Less:
Interest and other income			—						—						—						8,204						8,204
Property-level operating expenses			631,550						77,479						4,379						—						713,408
Third party capital management expenses			—						—						—						1,553						1,553
NOI			$	213,982					$	144,096					$	150,970					$	4,102					513,150
Interest and other income																											8,204
Interest expense																											(150,437)
Depreciation and amortization																											(304,268)
General, administrative and professional fees																											(35,092)
Transaction, transition and restructuring costs																											(8,580)
Recovery of allowance on loans receivable and investments, net																											56
Other expense																											(3,935)
Income from unconsolidated entities																											4,629
Gain on real estate dispositions																											271
Income tax expense																											(3,002)
Net income																											20,996
Net income attributable to noncontrolling interests																											1,753
Net income attributable to common stockholders																											$	19,243

			For the Three Months Ended September 30, 2023
			SHOP						OM&R						NNN						Non-Segment						Total
Revenues
Rental income			$	—					$	226,326					$	159,812					$	—					$	386,138
Resident fees and services			754,417						—						—						—						754,417
Third party capital management revenues			—						662						—						4,653						5,315
Income from loans and investments			—						—						—						1,208						1,208
Interest and other income			—						—						—						2,754						2,754
Total revenues			$	754,417					$	226,988					$	159,812					$	8,615					$	1,149,832
Total revenues			$	754,417					$	226,988					$	159,812					$	8,615					$	1,149,832
Less:
Interest and other income			—						—						—						2,754						2,754
Property-level operating expenses			573,715						78,915						3,847						—						656,477
Third party capital management expenses			—						—						—						1,472						1,472
NOI			$	180,702					$	148,073					$	155,965					$	4,389					489,129
Interest and other income																											2,754
Interest expense																											(147,919)
Depreciation and amortization																											(370,377)
General, administrative and professional fees																											(33,297)
Loss on extinguishment of debt, net																											(612)
Transaction, transition and restructuring costs																											(7,125)
Recovery of allowance on loans receivable and investments, net																											66
Other expense																											(9,432)
Loss from unconsolidated entities																											(5,119)
Gain on real estate dispositions																											10,711
Income tax benefit																											1,662
Net loss																											(69,559)
Net income attributable to noncontrolling interests																											1,565
Net loss attributable to common stockholders																											$	(71,124)

			For the Nine Months Ended September 30, 2024
			SHOP						OM&R						NNN						Non-Segment						Total
Revenues
Rental income			$	—					$	658,687					$	464,651					$	—					$	1,123,338
Resident fees and services			2,476,436						—						—						—						2,476,436
Third party capital management revenues			—						1,954						—						11,066						13,020
Income from loans and investments			—						—						—						4,606						4,606
Interest and other income			—						—						—						19,809						19,809
Total revenues			$	2,476,436					$	660,641					$	464,651					$	35,481					$	3,637,209
Total revenues			$	2,476,436					$	660,641					$	464,651					$	35,481					$	3,637,209
Less:
Interest and other income			—						—						—						19,809						19,809
Property-level operating expenses			1,844,730						224,703						11,623						—						2,081,056
Third party capital management expenses			—						—						—						4,956						4,956
NOI			$	631,706					$	435,938					$	453,028					$	10,716					1,531,388
Interest and other income																											19,809
Interest expense																											(449,629)
Depreciation and amortization																											(944,371)
General, administrative and professional fees																											(121,556)
Loss on extinguishment of debt, net																											(672)
Transaction, transition and restructuring costs																											(16,143)
Recovery of allowance on loans receivable and investments, net																											166
Shareholder relations matters																											(15,751)
Other expense																											(10,729)
Loss from unconsolidated entities																											(5,406)
Gain on real estate dispositions																											50,282
Income tax expense																											(7,764)
Net income																											29,624
Net income attributable to noncontrolling interests																											5,306
Net income attributable to common stockholders																											$	24,318

			For the Nine Months Ended September 30, 2023
			SHOP						OM&R						NNN						Non-Segment						Total
Revenues
Rental income			$	—					$	645,137					$	463,906					$	—					$	1,109,043
Resident fees and services			2,184,024						—						—						—						2,184,024
Third party capital management revenues			—						1,849						—						11,639						13,488
Income from loans and investments			—						—						—						21,351						21,351
Interest and other income			—						—						—						5,529						5,529
Total revenues			$	2,184,024					$	646,986					$	463,906					$	38,519					$	3,333,435
Total revenues			$	2,184,024					$	646,986					$	463,906					$	38,519					$	3,333,435
Less:
Interest and other income			—						—						—						5,529						5,529
Property-level operating expenses			1,658,047						217,999						11,180						—						1,887,226
Third party capital management expenses			—						—						—						4,614						4,614
NOI			$	525,977					$	428,987					$	452,726					$	28,376					1,436,066
Interest and other income																											5,529
Interest expense																											(419,259)
Depreciation and amortization																											(957,185)
General, administrative and professional fees																											(112,494)
Gain on extinguishment of debt, net																											6,189
Transaction, transition and restructuring costs																											(11,580)
Recovery of allowance on loans receivable and investments, net																											20,195
Gain on foreclosure of real estate																											29,127
Other income																											765
Income from unconsolidated entities																											20,512
Gain on real estate dispositions																											22,317
Income tax benefit																											14,237
Net income																											54,419
Net income attributable to noncontrolling interests																											4,573
Net income attributable to common stockholders																											$	49,846

Assets by reportable business segment are as follows (dollars in thousands):

			As of September 30, 2024												As of December 31, 2023
Assets:
SHOP			$	12,854,462					50.7		%				$	12,864,029					52.0		%
Outpatient medical and research portfolio			6,879,036						27.1						6,943,446						28.1
Triple-net leased properties			4,022,354						15.9						4,120,691						16.7
Non-segment			1,591,337						6.3						797,267						3.2
Total assets			$	25,347,189					100.0		%				$	24,725,433					100.0		%

X

- 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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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