XML 50 R36.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Commitments and Contingencies (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2014
Concentration of Credit Risk |
Summary of HCR ManorCare's condensed consolidated financial information | HCR ManorCare’s summarized condensed consolidated financial information follows (in millions):
|  | March 31, |  | December 31, |
|  | 2014 |  | 2013 |
Real estate and other property, net |  | $ | 2,984.1 |  | $ | 2,996.8 |
Cash and cash equivalents |  | 169.7 |  | 141.8 |
Goodwill, intangible and other assets, net |  | 5,170.0 |  | 5,171.3 |
Total assets |  | $ | 8,323.8 |  | $ | 8,309.9 |
Debt and financing obligations |  | $ | 6,227.6 |  | $ | 6,258.5 |
Accounts payable, accrued liabilities and other |  | 1,049.7 |  | 1,013.4 |
Total equity |  | 1,046.5 |  | 1,038.0 |
Total liabilities and equity |  | $ | 8,323.8 |  | $ | 8,309.9 |
|  | Three Months Ended March 31, |
|  | 2014 |  | 2013 |
Revenues |  | $ | 1,054.3 |  | $ | 1,066.3 |
Operating, general and administrative expense |  | (904.6 | ) | (907.7 | )
Depreciation and amortization expense |  | (35.6 | ) | (36.8 | )
Interest expense |  | (102.7 | ) | (104.4 | )
Other income, net |  | 2.9 |  | 2.3 |
Income from continuing operations before income taxes |  | 14.3 |  | 19.7 |
Income taxes |  | (5.9 | ) | (6.3 | )
Income from continuing operations |  | 8.4 |  | 13.4 |
Loss from discontinued operations, net of taxes |  | — |  | (1.7 | )
Net income |  | $ | 8.4 |  | $ | 11.7
Operators |
Concentration of Credit Risk |
Schedule of concentration of credit risk by segments |
|  | Percentage of Total Company Assets |  | Percentage of Total Company Revenues |
|  | March 31, |  | December 31, |  | Three Months Ended March 31, |
Operators |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
HCR ManorCare |  | 32 | % | 32 | % | 28 | % | 28 | %
Emeritus(1) |  | 15 |  | 14 |  | 12 |  | 13 |
Sunrise(2) |  | 7 |  | 7 |  | 4 |  | 5 |
Brookdale(1) (3) |  | 4 |  | 4 |  | 4 |  | 4 |
(1) On February 20, 2014, Brookdale and Emeritus signed definitive agreements to merge; the merger is anticipated to close in the third quarter of 2014. Contingent on the closing of this merger, on April 23, 2014, the Company agreed to amend all of its leases with Emeritus and enter into two RIDEA joint ventures with Brookdale (see Note 20 for additional information regarding these potential transactions). (2) Certain of the Company’s properties are leased to tenants who have entered into management contracts with Sunrise to operate the respective property on their behalf. The Company’s concentration of gross assets includes properties directly leased to Sunrise and properties that are managed by Sunrise on behalf of third party tenants. (3) Percentages do not include senior housing facilities that Brookdale operates on the Company’s behalf under a RIDEA structure.
Senior housing | Operators |
Concentration of Credit Risk |
Schedule of concentration of credit risk by segments |
|  | Percentage of Senior Housing Gross Assets |  | Percentage of Senior Housing Revenues |
|  | March 31, |  | December 31, |  | Three Months Ended March 31, |
Operators |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
HCR ManorCare |  | 11 | % | 11 | % | 10 | % | 10 | %
Emeritus (1) |  | 37 |  | 37 |  | 34 |  | 35 |
Sunrise Senior Living (“Sunrise”)(2) |  | 17 |  | 17 |  | 11 |  | 13 |
Brookdale Senior Living (“Brookdale”)(1) (3) |  | 11 |  | 11 |  | 12 |  | 12 |
Post-acute/skilled | Operators |
Concentration of Credit Risk |
Schedule of concentration of credit risk by segments |
|  | Percentage of Post-Acute/ Skilled Nursing Gross Assets |  | Percentage of Post-Acute/ Skilled Nursing Revenues |
|  | March 31, |  | December 31, |  | Three Months Ended March 31, |
Operators |  | 2014 |  | 2013 |  | 2014 |  | 2013 |
HCR ManorCare |  | 89 | % | 88 | % | 86 | % | 88 | %

X
- Definition Tabular disclosure of condensed financial statements by operator of properties of the entity. + References No definition available. + Details
Name: | hcp_ScheduleOfCondensedFinancialStatementsByOperatorsTableTextBlock
Namespace Prefix: | hcp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_ConcentrationRiskLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6327-108592 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6404-108592 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13531-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6351-108592 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13537-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6442-108592 + Details
Name: | us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration