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Concentration of Credit Risk (Tables) | 9 Months Ended
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Sep. 30, 2015
Summary of consolidated financial information (in millions) |
|  | September 30, |  | December 31, |
|  | 2015 |  | 2014 |
Real estate and other property, net |  | $ | 2,641.1 |  | $ | 2,934.4 |
Cash and cash equivalents |  |  | 150.5 |  |  | 127.9 |
Goodwill, intangible and other assets, net |  |  | 4,820.6 |  |  | 4,621.7 |
Total assets |  | $ | 7,612.2 |  | $ | 7,684.0 |
Debt and financing obligations |  | $ | 6,049.3 |  | $ | 6,108.3 |
Accounts payable, accrued liabilities and other |  |  | 975.3 |  |  | 932.7 |
Total equity |  |  | 587.6 |  |  | 643.0 |
Total liabilities and equity |  | $ | 7,612.2 |  | $ | 7,684.0 |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Revenues |  | $ | 1,009.6 |  | $ | 1,026.0 |  | $ | 3,091.1 |  | $ | 3,101.8 |
Operating, general and administrative expense |  |  | (885.7) |  |  | (881.3) |  |  | (2,667.8) |  |  | (2,676.5) |
Depreciation and amortization expense |  |  | (33.3) |  |  | (35.7) |  |  | (104.6) |  |  | (106.0) |
Interest expense |  |  | (119.7) |  |  | (101.6) |  |  | (339.9) |  |  | (305.9) |
Other income, net |  |  | 2.6 |  |  | 0.8 |  |  | 7.5 |  |  | 5.4 |
Loss on disposal of assets |  |  | (76.0) |  |  | (1.4) |  |  | (76.0) |  |  | (1.4) |
(Loss) income from continuing operations before income tax expense |  |  | (102.5) |  |  | 6.8 |  |  | (89.7) |  |  | 17.4 |
Income taxes |  |  | (44.4) |  |  | 3.1 |  |  | (38.8) |  |  | 7.4 |
(Loss) income from continuing operations |  |  | (58.1) |  |  | 3.7 |  |  | (50.9) |  |  | 10.0 |
Income (loss) from discontinued operations, net of taxes |  |  | 2.1 |  |  | 2.0 |  |  | (3.9) |  |  | (6.8) |
Net (loss) income |  | $ | (56.0) |  | $ | 5.7 |  | $ | (54.8) |  | $ | 3.2 |
Senior housing |
Schedule of concentration of credit risk |
|  | Percentage of |  | Percentage of |  | Percentage of |
|  | Gross Assets |  | Revenues |  | Revenues |
|  | September 30, |  | December 31, |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
Operators |  | 2015 |  | 2014 |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Brookdale(1) |  | 28 | % | 36 | % | 21 | % | 32 | % | 24 | % | 40 | %
HCRMC |  | 10 | % | 11 | % | 7 | % | 7 | % | 8 | % | 9 | %
| (1) |  | On July 31, 2014, Brookdale completed its acquisition of Emeritus. These percentages of segment revenues and total revenues for the three and nine months ended September 30, 2014 are prepared on a pro forma basis to reflect the combined concentration for Brookdale and Emeritus, as if the merger had occurred as of the beginning of the period presented. On August 29, 2014, the Company and Brookdale amended or terminated all former leases with Emeritus and entered into two RIDEA joint ventures (see Notes 3 and 18). Percentages do not include senior housing facilities that Brookdale manages (is not a tenant) under a RIDEA structure.
Tenants and Operators |
Schedule of concentration of credit risk |
|  | Percentage of |  | Percentage of |  | Percentage of |
|  | Gross Assets |  | Revenues |  | Revenues |
|  | September 30, |  | December 31, |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
Operators |  | 2015 |  | 2014 |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
HCRMC |  | 28 | % | 31 | % | 21 | % | 25 | % | 23 | % | 27 | %
Brookdale(1) |  | 12 | % | 13 | % | 9 | % | 13 | % | 10 | % | 15 | %
| (1) |  | On July 31, 2014, Brookdale completed its acquisition of Emeritus. These percentages of segment revenues and total revenues for the three and nine months ended September 30, 2014 are prepared on a pro forma basis to reflect the combined concentration for Brookdale and Emeritus, as if the merger had occurred as of the beginning of the period presented. On August 29, 2014, the Company and Brookdale amended or terminated all former leases with Emeritus and entered into two RIDEA joint ventures (see Notes 3 and 18). Percentages do not include senior housing facilities that Brookdale manages (is not a tenant) under a RIDEA structure.
Tenants and Operators | Post-acute/skilled |
Schedule of concentration of credit risk |
|  | Percentage of |  | Percentage of |  | Percentage of |
|  | Gross Assets |  | Revenues |  | Revenues |
|  | September 30, |  | December 31, |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
Operators |  | 2015 |  | 2014 |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
HCRMC |  | 82 | % | 82 | % | 81 | % | 86 | % | 79 | % | 86 | %

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