XML 65 R48.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Segment Disclosures (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Segment Disclosure |
Summary financial information of reportable segment (in thousands) | Summary information for the reportable segments follows (in thousands): For the year ended December 31, 2015:
|  | Senior |  | Post-acute/ |  | Life |  | Medical |  |  |  |  |  |
Segments |  | Housing |  | Skilled Nursing |  | Science |  | Office |  | Hospital |  | Total |
Rental revenues(1) |  | $ | 519,102 | (2) | $ | 535,111 | (2) | $ | 342,984 |  | $ | 419,225 |  | $ | 88,380 |  | $ | 1,904,802 |
Resident fees and services |  |  | 525,453 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 525,453 |
Operating expenses |  |  | (374,617) |  |  | (2,002) |  |  | (70,217) |  |  | (163,550) |  |  | (3,989) |  |  | (614,375) |
NOI |  |  | 669,938 |  |  | 533,109 |  |  | 272,767 |  |  | 255,675 |  |  | 84,391 |  |  | 1,815,880 |
Non-cash adjustments to NOI(3) |  |  | (16,127) | (2) |  | (78,738) | (2) |  | (10,128) |  |  | (5,025) |  |  | 1,060 |  |  | (108,958) |
Adjusted (cash) NOI |  |  | 653,811 |  |  | 454,371 |  |  | 262,639 |  |  | 250,650 |  |  | 85,451 |  |  | 1,706,922 |
Interest income |  |  | 28,718 |  |  | 83,466 |  |  | — |  |  | — |  |  | — |  |  | 112,184 |
Portfolio Income |  | $ | 682,529 |  | $ | 537,837 |  | $ | 262,639 |  | $ | 250,650 |  | $ | 85,451 |  |  | 1,819,106 |
Addback non-cash adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 108,958 |
Investment management fee income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,873 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (479,596) |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (510,785) |
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (96,022) |
Acquisition and pursuit costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (27,309) |
Impairments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,403,853) |
Gain on sales of real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,377 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,404 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,011 |
Equity income in unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 57,313 |
Impairment of investments in unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (45,895) |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (546,418) |
For the year ended December 31, 2014:
|  | Senior |  | Post-acute/ |  | Life |  | Medical |  |  |  |  |  |
Segments |  | Housing |  | Skilled Nursing |  | Science |  | Office |  | Hospital |  | Total |
Rental revenues(1) |  | $ | 621,114 |  | $ | 555,322 |  | $ | 314,114 |  | $ | 370,956 |  | $ | 86,508 |  | $ | 1,948,014 |
Resident fees and services |  |  | 241,965 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 241,965 |
Operating expenses |  |  | (167,407) |  |  | (2,087) |  |  | (63,080) |  |  | (148,199) |  |  | (3,830) |  |  | (384,603) |
NOI |  |  | 695,672 |  |  | 553,235 |  |  | 251,034 |  |  | 222,757 |  |  | 82,678 |  |  | 1,805,376 |
Non-cash adjustments to NOI(3) |  |  | (78,197) |  |  | (69,141) |  |  | (10,075) |  |  | (1,406) |  |  | 443 |  |  | (158,376) |
Adjusted (cash) NOI |  |  | 617,475 |  |  | 484,094 |  |  | 240,959 |  |  | 221,351 |  |  | 83,121 |  |  | 1,647,000 |
Interest income |  |  | 14,249 |  |  | 60,242 |  |  | — |  |  | — |  |  | — |  |  | 74,491 |
Portfolio Income |  | $ | 631,724 |  | $ | 544,336 |  | $ | 240,959 |  | $ | 221,351 |  | $ | 83,121 |  |  | 1,721,491 |
Addback non-cash adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 158,376 |
Investment management fee income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,809 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (439,742) |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (459,995) |
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (82,175) |
Acquisition and pursuit costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17,142) |
Gain on sales of real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,288 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,528 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (250) |
Equity income in unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 49,570 |
Impairment of investments in unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (35,913) |
Total discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,746 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 936,591 |
For the year ended December 31, 2013:
|  | Senior |  | Post-acute/ |  | Life |  | Medical |  |  |  |  |  |
Segments |  | Housing |  | Skilled Nursing |  | Science |  | Office |  | Hospital |  | Total |
Rental revenues(1) |  | $ | 602,506 |  | $ | 541,805 |  | $ | 296,879 |  | $ | 352,334 |  | $ | 72,060 |  | $ | 1,865,584 |
Resident fees and services |  |  | 146,288 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 146,288 |
Operating expenses |  |  | (95,603) |  |  | (2,485) |  |  | (56,956) |  |  | (139,376) |  |  | (3,862) |  |  | (298,282) |
NOI |  |  | 653,191 |  |  | 539,320 |  |  | 239,923 |  |  | 212,958 |  |  | 68,198 |  |  | 1,713,590 |
Non-cash adjustments to NOI(3) |  |  | (58,699) |  |  | (71,812) |  |  | (11,448) |  |  | (2,147) |  |  | 11,554 |  |  | (132,552) |
Adjusted (cash) NOI |  |  | 594,492 |  |  | 467,508 |  |  | 228,475 |  |  | 210,811 |  |  | 79,752 |  |  | 1,581,038 |
Interest income |  |  | 11,621 |  |  | 73,595 |  |  | — |  |  | — |  |  | 943 |  |  | 86,159 |
Portfolio Income |  | $ | 606,113 |  | $ | 541,103 |  | $ | 228,475 |  | $ | 210,811 |  | $ | 80,695 |  |  | 1,667,197 |
Addback non-cash adjustments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 132,552 |
Investment management fee income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,847 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (435,252) |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (423,312) |
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (103,042) |
Acquisition and pursuit costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,191) |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,216 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,815) |
Equity income in unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 64,433 |
Total discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 74,373 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 985,006 |
| (1) |  | Represents rental and related revenues, tenant recoveries, and income from DFLs.
| (2) |  | See Note 6 for discussion of the Company’s HCRMC DFL investments
| (3) |  | Represents straight-line rents, DFL accretion, amortization of market lease intangibles and lease termination fees.
Reconciliation of company's assets to total assets (in thousands) | The Company’s total assets by segment were (in thousands):
|  | December 31, |
Segments |  | 2015 |  | 2014 |
Senior housing |  | $ | 9,812,142 |  | $ | 8,383,345 |
Post-acute/skilled nursing |  |  | 5,162,947 |  |  | 6,875,122 |
Life science |  |  | 4,267,373 |  |  | 4,154,789 |
Medical office |  |  | 3,469,048 |  |  | 2,988,888 |
Hospital |  |  | 622,820 |  |  | 640,253 |
Gross segment assets |  |  | 23,334,330 |  |  | 23,042,397 |
Accumulated depreciation and amortization |  |  | (3,005,270) |  |  | (2,600,072) |
Net segment assets |  |  | 20,329,060 |  |  | 20,442,325 |
Other nonsegment assets |  |  | 1,120,789 |  |  | 889,111 |
Total assets |  | $ | 21,449,849 |  | $ | 21,331,436 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_SegmentReportingInformationLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration