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Concentration of Risk | 12 Months Ended
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Dec. 31, 2023
Risks and Uncertainties [Abstract] |
Concentration of Risk | CONCENTRATION OF RISK Concentrations of credit risk arise when one or more tenants, operators, or obligors related to the Company’s investments are engaged in similar business activities or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. Major operator concentration – The Company has operators from which it derived 10% or more of its revenue for the years ended December 31, 2023, 2022 and 2021. The following table sets forth information regarding the Company’s major operators as of December 31, 2023, 2022 and 2021:
|  | Number of Facilities |  | Number of Beds/Units |  | Percentage of Total Revenue
Operator(1) |  | SNF |  | Campus |  | ALF/ILF |  | SNF |  | Campus |  | ALF/ILF |
December 31, 2023(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ensign |  | 83 |  |  | 8 |  | 7 |  |  | 8,738 |  |  | 997 |  | 661 |  |  | 32 | %
PMG |  | 13 |  |  | 2 |  | — |  |  | 1,742 |  |  | 402 |  | — |  |  | 14 | %
December 31, 2022(3) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ensign |  | 83 |  |  | 8 |  | 7 |  |  | 8,741 |  |  | 997 |  |  | 661 |  |  | 35 | %
PMG |  | 13 |  |  | 2 |  | — |  |  | 1,742 |  |  | 402 |  |  | — |  |  | 16 | %
December 31, 2021(3) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ensign |  | 83 |  |  | 8 |  | 4 |  |  | 8,756 |  |  | 997 |  |  | 395 |  |  | 32 | %
PMG |  | 13 |  |  | 2 |  | — |  |  | 1,742 |  |  | 402 |  |  | — |  |  | 15 | %
(1)See Note 3, Real Estate Investments, Net, for further information regarding Ensign and PMG. Ensign is subject to the registration and reporting requirements of the SEC and is required to file with the SEC annual reports containing audited financial information and quarterly reports containing unaudited financial information. Ensign’s financial statements, as filed with the SEC, can be found at http://www.sec.gov. The Company has not verified this information through an independent investigation or otherwise. (2)The Company’s rental income and interest income on other real estate related investments, exclusive of operating expense reimbursements and adjustments for collectibility. (3)The Company’s rental income, exclusive of operating expense reimbursements and adjustments for collectibility. Major geographic concentration – The following table provides information regarding the Company’s concentrations with respect to certain states, from which the Company derived 10% or more of its revenue for the year ended December 31, 2023, 2022 and 2021:
|  | Number of Facilities |  | Number of Beds/Units |  | Percentage of Total Revenue
State |  | SNF |  | Campus |  | ALF/ILF |  | SNF |  | Campus |  | ALF/ILF |
December 31, 2023(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |
CA |  | 40 |  |  | 9 |  | 8 |  |  | 4,615 |  |  | 1,527 |  |  | 656 |  |  | 28 | %
TX |  | 40 |  |  | 3 |  | 2 |  |  | 5,123 |  |  | 536 |  | 212 |  |  | 21 | %
December 31, 2022(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
CA |  | 27 |  |  | 8 |  | 5 |  |  | 3,048 |  |  | 1,359 |  |  | 437 |  |  | 26 | %
TX |  | 38 |  |  | 3 |  | 3 |  |  | 4,849 |  |  | 536 |  |  | 242 |  |  | 22 | %
December 31, 2021(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |
CA |  | 27 |  |  | 8 |  | 5 |  |  | 3,048 |  |  | 1,359 |  |  | 449 |  |  | 25 | %
TX |  | 37 |  |  | 3 |  | 3 |  |  | 4,694 |  |  | 536 |  |  | 242 |  |  | 20 | %
(1)Based on the Company’s rental income and interest income on other real estate related investments, exclusive of operating expense reimbursements and adjustments for collectibility. (2)Based on the Company’s rental income, exclusive of operating expense reimbursements and adjustments for collectibility.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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