XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.23.2

Dispositions of Real Estate and Discontinued Operations | 6 Months Ended
--- | ---
Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Dispositions of Real Estate and Discontinued Operations | Dispositions of Real Estate and Discontinued Operations 2023 Dispositions of Real Estate In January 2023, the Company sold two lab buildings in Durham, North Carolina, which were classified as held for sale as of December 31, 2022, for $113 million, resulting in total gain on sales of $60 million. Additionally, in March 2023, the Company sold two outpatient medical buildings for $32 million, resulting in total gain on sales of $21 million. 2022 Dispositions of Real Estate During the three months ended March 31, 2022, the Company sold one lab building in Salt Lake City, Utah for $14 million, resulting in a gain on sale of $4 million. During the three months ended June 30, 2022, the Company sold three outpatient medical buildings and one outpatient medical land parcel for $27 million, resulting in total gain on sales of $10 million. During the three months ended September 30, 2022, the Company sold two outpatient medical buildings for $9 million, resulting in total gain on sales of $1 million. Held for Sale and Discontinued Operations As of June 30, 2023, one outpatient medical building was classified as held for sale, with a carrying value of $8 million, primarily comprised of net real estate assets. As of June 30, 2023, liabilities related to the asset held for sale were de minimis. As of December 31, 2022, two lab buildings were classified as held for sale, with an aggregate carrying value of $50 million, primarily comprised of net real estate assets of $44 million. As of December 31, 2022, liabilities related to these assets held for sale were $4 million. These two lab buildings were sold in January 2023, as discussed above. In 2020, the Company concluded that the dispositions of its senior housing triple-net and SHOP portfolios represented a strategic shift that had a major effect on its operations and financial results. Therefore, senior housing triple-net and SHOP assets are classified as discontinued operations in all periods presented herein. At each of June 30, 2023 and December 31, 2022, the total assets and total liabilities classified as discontinued operations were zero. The results of discontinued operations during the three and six months ended June 30, 2023 and 2022 are presented below (in thousands) and are included in the consolidated results of operations for the three and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Revenues: |  |  |  |  |  |  |
Resident fees and services | $ | — |  |  | $ | 2,825 |  |  | $ | — |  |  | $ | 5,480 |
Total revenues | — |  |  | 2,825 |  |  | — |  |  | 5,480 |
Costs and expenses: |  |  |  |  |  |  |
Operating | — |  |  | 2,442 |  |  | — |  |  | 5,116 |
Total costs and expenses | — |  |  | 2,442 |  |  | — |  |  | 5,116 |
Other income (expense): |  |  |  |  |  |  |
Gain (loss) on sales of real estate, net | — |  |  | 2,563 |  |  | — |  |  | 2,492 |
Other income (expense), net | — |  |  | 16 |  |  | — |  |  | 19 |
Total other income (expense), net | — |  |  | 2,579 |  |  | — |  |  | 2,511 |
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures | — |  |  | 2,962 |  |  | — |  |  | 2,875 |
Income tax benefit (expense) | — |  |  | 30 |  |  | — |  |  | 370 |
Equity income (loss) from unconsolidated joint ventures | — |  |  | — |  |  | — |  |  | 64 |
Income (loss) from discontinued operations | $ | — |  |  | $ | 2,992 |  |  | $ | — |  |  | $ | 3,309 |
Impairments of Real Estate During the three and six months ended June 30, 2023 and 2022, the Company did not recognize any impairment charges. Other Losses During the six months ended June 30, 2022, the Company recognized $14 million of expenses within other income (expense), net on the Consolidated Statements of Operations for tenant relocation and other costs associated with the demolition of an outpatient medical building.

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 The entire disclosure 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 -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration