XML 53 R39.htm IDEA: XBRL DOCUMENT
v3.20.4

Dispositions of Real Estate and Discontinued Operations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Summary of Assets and Liabilities Transferred to Qcp at the Spin-off Date | The following summarizes the assets and liabilities classified as discontinued operations at December 31, 2020 and 2019, which are included in assets held for sale and discontinued operations, net and liabilities related to assets held for sale and discontinued operations, net, respectively, on the consolidated balance sheets (in thousands):
| December 31,
| 2020 |  | 2019
ASSETS |  |  |
Real estate: |  |  |
Buildings and improvements | $ | 2,553,254 |  |  | $ | 3,626,665 |
Development costs and construction in progress | 21,509 |  |  | 38,728 |
Land | 355,803 |  |  | 467,956 |
Accumulated depreciation and amortization | (615,708) |  |  | (861,557) |
Net real estate | 2,314,858 |  |  | 3,271,792 |
Investments in and advances to unconsolidated joint ventures | 5,842 |  |  | 51,134 |
Accounts receivable, net of allowance of $5,873 and $4,178 | 20,500 |  |  | 14,575 |
Cash and cash equivalents | 53,085 |  |  | 63,834 |
Restricted cash | 17,168 |  |  | 27,040 |
Intangible assets, net | 24,541 |  |  | 82,071 |
Right-of-use asset, net | 4,109 |  |  | 5,701 |
Other assets, net(1) | 103,965 |  |  | 125,502 |
Total assets of discontinued operations, net | 2,544,068 |  |  | 3,641,649 |
Total medical office assets held for sale, net(2) | 82,238 |  |  | 6,616 |
Assets held for sale and discontinued operations, net | $ | 2,626,306 |  |  | $ | 3,648,265 |
LIABILITIES |  |  |
Mortgage debt | 318,876 |  |  | 296,879 |
Lease liability | 3,189 |  |  | 4,871 |
Accounts payable, accrued liabilities, and other liabilities | 79,411 |  |  | 83,392 |
Deferred revenue | 11,442 |  |  | 18,520 |
Total liabilities of discontinued operations, net | 412,918 |  |  | 403,662 |
Total liabilities related to medical office assets held for sale, net | 2,819 |  |  | 26 |
Liabilities related to assets held for sale and discontinued operations, net | $ | 415,737 |  |  | $ | 403,688 |
_______________________________________ (1)Includes goodwill of $29 million and $30 million as of December 31, 2020 and 2019, respectively. (2)Primarily comprised of six MOBs with net real estate assets of $73 million and two MOBs with net real estate assets of $7 million as of December 31, 2020 and 2019, respectively. Summarized financial information for discontinued operations for the years ended December 31, 2020, 2019, and 2018 is as follows (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Revenues: |  |  |  |  |
Rental and related revenues | $ | 97,877 |  |  | $ | 152,576 |  |  | $ | 216,887 |
Resident fees and services | 621,253 |  |  | 583,653 |  |  | 400,557 |
Income from direct financing leases | — |  |  | 20,815 |  |  | 37,926 |
Total revenues | 719,130 |  |  | 757,044 |  |  | 655,370 |
Costs and expenses: |  |  |  |  |
Interest expense | 10,538 |  |  | 8,007 |  |  | 5,062 |
Depreciation and amortization | 143,194 |  |  | 224,798 |  |  | 144,819 |
Operating | 550,226 |  |  | 474,126 |  |  | 326,381 |
Transaction costs | 20,426 |  |  | 6,780 |  |  | 9,635 |
Impairments and loan loss reserves (recoveries), net | 201,344 |  |  | 208,229 |  |  | 44,343 |
Total costs and expenses | 925,728 |  |  | 921,940 |  |  | 530,240 |
Other income (expense): |  |  |  |  |
Gain (loss) on sales of real estate, net | 460,144 |  |  | 22,940 |  |  | 94,618 |
Other income (expense), net | 5,475 |  |  | 17,060 |  |  | (110) |
Total other income (expense), net | 465,619 |  |  | 40,000 |  |  | 94,508 |
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures | 259,021 |  |  | (124,896) |  |  | 219,638 |
Income tax benefit (expense) | 9,913 |  |  | 11,783 |  |  | 13,459 |
Equity income (loss) from unconsolidated joint ventures | (1,188) |  |  | (2,295) |  |  | 3,159 |
Income (loss) from discontinued operations | $ | 267,746 |  |  | $ | (115,408) |  |  | $ | 236,256 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration