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LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Operating Lease Expenses

The components of operating lease expense are as follows:

									Year Ended December 31,
															2023						2022						2021
Rent - cost of services(1)															$	197,358					$	153,049					$	139,371
General and administrative expense															498						125						87
Depreciation and amortization(2)															1,202						1,160						1,158
Variable lease costs(3)															20,454						16,938						14,077
															$	219,512					$	171,272					$	154,693

(1)Rent- cost of services includes deferred rent expense adjustments of $870, $493 and $485 for the years ended December 31, 2023, 2022 and 2021, respectively. Additionally, rent- cost of services includes other variable lease costs such as consumer price index increases and short-term leases of $10,259, $5,878, $3,702 for the years ended December 31, 2023, 2022, and 2021 respectively.

(2) Depreciation and amortization is related to the amortization of favorable and direct lease costs.

(3) Variable lease costs, including property taxes and insurance, are classified in cost of services in the Company's consolidated statements of income.

Schedule of Future Minimum Lease Payments

Future minimum lease payments for all third-party leases as of December 31, 2023 are as follows:

Year						Amount
2024						$	191,352
2025						191,269
2026						191,058
2027						190,481
2028						189,224
Thereafter						1,722,259
TOTAL LEASE PAYMENTS						2,675,643
Less: present value adjustment						(953,791)
PRESENT VALUE OF TOTAL LEASE LIABILITIES						1,721,852
Less: current lease liabilities						(82,526)
LONG-TERM OPERATING LEASE LIABILITIES						$	1,639,326

Schedule of Rental Income from Third-Party Sources

Total rental income from all third-party sources for the years ended December 31, 2023, 2022 and 2021 is as follows:

									Year Ended December 31,
															2023						2022						2021
Pennant(1)															$	15,048					$	14,915					$	14,073
Other third-party(2)															6,236						1,842						1,912
TOTAL															$	21,284					$	16,757					$	15,985

(1) Pennant rental income includes variable rent such as property taxes of $1,296, $1,318, and $1,199 during the year ended December 31, 2023, 2022, and 2021. In addition, the number of senior living operations leased to and operated by Pennant was 29 during the year ended December 31, 2023 and decreased from 32 to 29 during the year ended December 31, 2022.

(2) Other third-party includes rental revenue associated with the Company's subleases to third parties of $3,897 for the year ended December 31, 2023. There was no sublease rental revenue for the years ended December 31, 2022 and 2021.

Schedule of Annual Rental Income

Future annual rental income for all third-party leases as of December 31, 2023 were as follows:

Year						Amount(1)
2024						$	22,191
2025						21,565
2026						21,269
2027						21,176
2028						21,151
Thereafter						129,586
TOTAL						$	236,938

(1) Annual rental income includes base rents and variable rental income pursuant to existing leases as of December 31, 2023.

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-4

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479773/842-30-50-12

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- Definition

Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479773/842-30-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482964/270-10-50-6A

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