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Investments in and Advances to Unconsolidated Joint Ventures (Tables) | 3 Months Ended
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Mar. 31, 2016
Investments in and Advances to Unconsolidated Joint Ventures |
Company owned interests in entities, accounted under equity method (dollars in thousands) | The Company owns interests in the following entities that are accounted for under the equity method at March 31, 2016 (dollars in thousands):
Entity(1) |  | Segment |  | Carrying Amount |  | Ownership% |
CCRC JV(2) |  | Senior housing |  | $ | 462,545 |  |  | 49 |  |
HCRMC(3) |  | Senior housing and post-acute/skilled nursing |  |  | — |  |  | 9 |  |
MBK JV(4) |  | Senior housing |  |  | 43,384 |  |  | 50 |  |
HCP Ventures III, LLC |  | Medical office |  |  | 9,342 |  |  | 30 |  |
HCP Ventures IV, LLC |  | Medical office and hospital |  |  | 7,236 |  |  | 20 |  |
HCP Life Science(5) |  | Life science |  |  | 68,688 |  | 50 | – | 63 |
Vintage Park Development JV |  | Senior housing |  |  | 8,593 |  |  | 85 |  |
MBK Development JV(4) |  | Senior housing |  |  | 2,470 |  |  | 50 |  |
Suburban Properties, LLC |  | Medical office |  |  | 4,614 |  |  | 67 |  |
K&Y(6) |  | Post-acute/skilled nursing |  |  | 1,270 |  |  | 8 0 |  |
Advances to unconsolidated joint ventures, net and other |  |  |  |  | 523 |  |  |  |  |
|  |  |  | $ | 608,665 |  |  |  |  |
| (1) |  | These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures.
| (2) |  | Includes two unconsolidated joint ventures in a RIDEA structure (CCRC PropCo and CCRC OpCo).
| (3) |  | In December 2014, September 2015 and December 2015, the Company recognized impairment charges of $36 million, $27 million and $19 million, respectively.
| (4) |  | Includes two unconsolidated joint ventures in a RIDEA structure (PropCo and OpCo).
| (5) |  | Includes three unconsolidated joint ventures between the Company and an institutional capital partner. HCP Life Science includes the following partnerships (and the Company’s ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).
| (6) |  | Includes three unconsolidated joint ventures.
Summarized combined financial information for equity method investments (in thousands) | Summarized combined financial information for the Company’s equity method investments (in thousands):
|  | March 31, |  | December 31, |
|  | 2016 |  | 2015 |
Real estate, net |  | $ | 4,471,115 |  | $ | 4,470,249 |
Goodwill and other assets, net |  |  | 4,921,705 |  |  | 4,935,343 |
Assets held for sale |  |  | 70,584 |  |  | 94,866 |
Total assets |  | $ | 9,463,404 |  | $ | 9,500,458 |
Capital lease obligations and mortgage debt |  | $ | 6,526,878 |  | $ | 6,575,531 |
Accounts payable |  |  | 1,147,155 |  |  | 1,111,350 |
Liabilities and mortgage debt held for sale |  |  | 4,941 |  |  | 6,318 |
Other partners’ capital |  |  | 1,140,381 |  |  | 1,163,501 |
HCP’s capital(1) |  |  | 644,049 |  |  | 643,758 |
Total liabilities and partners’ capital |  | $ | 9,463,404 |  | $ | 9,500,458 |
| (1) |  | The combined basis difference of the Company’s investments in these joint ventures of $35 million, as of March 31, 2016, is attributable to goodwill, real estate, capital lease obligations, deferred tax assets and lease-related net intangibles.
|  | Three Months Ended March 31, |
|  | 2016 |  | 2015 |
Total revenues |  | $ | 1,089,911 |  | $ | 1,146,468 |
Income (loss) from discontinued operations |  |  | 1,997 |  |  | (2,650) |
Net (loss) income |  |  | (12,014) |  |  | 9,783 |
HCP’s share of earnings(1) |  |  | (908) |  |  | 13,601 |
Fees earned by HCP |  |  | 91 |  |  | 460 |
Distributions received by HCP |  |  | 6,925 |  |  | 2,181 |
| (1) |  | The Company’s joint venture interest in HCRMC is accounted for using the equity method and results in an elimination of DFL income proportional to HCP’s ownership in HCRMC. The elimination of the respective proportional lease expense at the HCRMC level in substance resulted in $16 million of DFL income that was recharacterized to the Company’s share of earnings from HCRMC (equity income from unconsolidated joint ventures) for the three months ended March 31, 2015. Beginning in January 2016, income will be recognized only if cash distributions are received from HCRMC; as a result, the Company no longer recharacterizes (eliminates) its proportional ownership share of income from DFLs to equity income (loss) from unconsolidated joint ventures.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
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