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Other Assets | 6 Months Ended
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Jun. 30, 2016
Other Assets [Abstract] |
Other Assets | NOTE 9. Other Assets The following table summarizes the Company’s other assets (in thousands):
|  | June 30, |  | December 31, |
|  | 2016 |  | 2015 |
Straight-line rent receivables, net of allowance of $31,121 and $33,648, respectively |  | $ | 379,002 |  | $ | 370,296 |
Marketable debt securities, net |  |  | 84,128 |  |  | 102,958 |
Leasing costs and inducements, net |  |  | 156,303 |  |  | 158,708 |
Goodwill |  |  | 50,346 |  |  | 50,346 |
Other |  |  | 121,652 |  |  | 119,965 |
Total other assets |  | $ | 791,431 |  | $ | 802,273 |
Four Seasons Health Care Senior Unsecured Notes Marketable debt securities, net are classified as held-to-maturity debt securities and primarily represent senior notes issued by Elli Investments Limited (“Elli”), a company beneficially owned by funds or limited partnerships managed by Terra Firma, as part of the financing for Elli’s acquisition of Four Seasons Health Care (the “Four Seasons Notes”). The Four Seasons Notes mature in June 2020, were non-callable through June 2016 and bear interest on their par value at a fixed rate of 12.25% per annum. The Company purchased an aggregate par value of £138.5 million of the Four Seasons Notes at a discount for £136.8 million ($215 million) in June 2012, representing 79% of the total £175 million issued and outstanding Four Seasons Notes. In June 2015 and September 2015, the Company determined that the Four Seasons Notes were other-than-temporarily impaired and recorded impairment charges of $42 million and $70 million, respectively, reducing the carrying value to $174 million (£111 million) and $100 million (£66 million), respectively. The fair value was based on quoted prices; however as the Four Seasons Notes are not actively traded, these prices were considered to be Level 2 measurements within the fair value hierarchy. In determining whether a credit loss existed and in calculating the fair value, the Company also evaluated Four Seasons’ ability to repay the Four Seasons Notes according to their contractual terms based on its estimate of future cash flows which inputs included forecasted revenues, capital expenditures, operating expenses, care home occupancy and continued implementation of Four Seasons’ business plan, including executing on its business line segmentation and continuing to invest in its core portfolio, which information was consistent with the results of the valuation technique used by the Company in determining whether a credit loss existed and calculating the fair value of the Four Seasons Notes. Elli remains obligated to repay the aggregate par value at maturity and interest payments due June 15 and December 15 each year. When the remaining semi-annual interest payments are received, the Company expects to continue to reduce the carrying value of the Four Seasons Notes during the related period. Accordingly, the Company applied the contractual interest payments received in both December 2015 (£8 million or $13 million) and June 2016 (£8 million or $13 million) against the principal balance. This treatment reduced the carrying value of the Four Seasons Notes to £58 million ($85 million) and £50 million ($66 million) at December 31, 2015 and June 30, 2016, respectively.

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