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Discontinued Operations and Dispositions of Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Summary of assets and liabilities transferred to QCP at the Spin-Off date | Summarized financial information for discontinued operations for the years ended December 31, 2016 and 2015 is as follows (in thousands):
| Year Ended December 31,
| 2016 |  | 2015
Revenues: |  |  |
Rental and related revenues | $ | 22,971 |  |  | $ | 27,651 |
Tenant recoveries | 1,233 |  |  | 1,464 |
Income from direct financing leases | 384,752 |  |  | 572,835 |
Total revenues | 408,956 |  |  | 601,950 |
Costs and expenses: |  |  |
Depreciation and amortization | (4,892 | ) |  | (5,880 | )
Operating | (3,367 | ) |  | (3,697 | )
General and administrative | (67 | ) |  | (57 | )
Transaction costs | (86,765 | ) |  | — |
Impairments | — |  |  | (1,295,504 | )
Other income (expense), net | 71 |  |  | 70 |
Income (loss) before income taxes and income from impairments of equity method investments | 313,936 |  |  | (703,118 | )
Income tax benefit (expense) | (48,181 | ) |  | (796 | )
Income from equity method investment | — |  |  | 50,723 |
Impairments of equity method investment | — |  |  | (45,895 | )
Total discontinued operations | $ | 265,755 |  |  | $ | (699,086 | )
Summary of quantitative information about fair value measurements | The following is a summary of the quantitative information about fair value measurements for the impairment related to the Company’s equity ownership interest in HCRMC using a discounted cash flow valuation model:
Description of Input(s) to the Valuation |  | Valuation Inputs
Range of revenue growth rates(1) |  | (1.8%)-3.0%
Range of occupancy growth rates(1) |  | (0.8%)-0.2%
Range of operating expense growth rates(1) |  | (1.1%)-3.1%
Discount rate |  | 15.20%
Range of earnings multiples |  | 6.0x-7.0x
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(1) | For growth rates, the value ranges provided represent the highest and lowest input utilized in the valuation model for any forecasted period.
The significant inputs to this valuation model included forecasted EBITDAR, rent coverage ratios and real estate capitalization rates and are summarized as follows (dollars in thousands):
Description of Input(s) to the Valuation |  | Senior Housing DFL Valuation Inputs |  | Post-acute/ Skilled nursing DFL Valuation Inputs
Range of EBITDAR |  | $75,000-$85,000 |  | $385,000-$435,000
Range of rent coverage ratio |  | 1.05x-1.15x |  | 1.25x-1.35x
Range of real estate capitalization rate |  | 6.25%-7.25% |  | 7.50%-8.50%
In December 2015, the Company concluded that its equity investment in HCRMC was other

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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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