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SEGMENT REPORTING | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The chief operating decision maker (“CODM”) is the President and Chief Executive Officer. The Company represents a single reportable segment consisting of investments in healthcare-related real estate properties located in the United States and the United Kingdom, based on how its CODM evaluates the businesses and allocates resources. The CODM assesses performance for the Company and decides how to allocate resources based on consolidated net income that is also reported on the condensed consolidated income statements. The CODM does not review segment assets at a different asset level or category than the amounts disclosed in the condensed consolidated balance sheets. The CODM uses net income to evaluate the performance of the Company in deciding whether to reinvest profits into the Company. The CODM evaluates performance based on net income, as follows (in thousands):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenues: |  |  |  |  |  |  |
Rental income | $ | 104,265 |  |  | $ | 57,153 |  |  | $ | 261,944 |  |  | $ | 166,062 |
Interest income from financing receivable | 2,908 |  |  | — |  |  | 8,601 |  |  | — |
Interest income from other real estate related investments and other income | 25,271 |  |  | 20,228 |  |  | 70,989 |  |  | 43,280 |
Total revenues | 132,444 |  |  | 77,381 |  |  | 341,534 |  |  | 209,342 |
Expenses: |  |  |  |  |  |  |
Depreciation and amortization | 26,693 |  |  | 14,009 |  |  | 65,749 |  |  | 41,317 |
Interest expense | 12,622 |  |  | 8,281 |  |  | 32,329 |  |  | 25,188 |
Property taxes and insurance | 2,326 |  |  | 2,115 |  |  | 6,508 |  |  | 5,892 |
Impairment of real estate investments | 452 |  |  | 8,417 |  |  | 452 |  |  | 36,872 |
Transaction costs | 560 |  |  | — |  |  | 1,509 |  |  | — |
Property operating expenses | 279 |  |  | 3,477 |  |  | 1,322 |  |  | 4,392 |
General and administrative |  |  |  |  |  |  |
Cash compensation | 2,636 |  |  | 1,571 |  |  | 6,730 |  |  | 4,878 |
Incentive compensation | 7,042 |  |  | 2,500 |  |  | 11,691 |  |  | 5,500 |
Share-based compensation | 2,493 |  |  | 1,143 |  |  | 9,428 |  |  | 4,669 |
Professional services | 1,439 |  |  | 570 |  |  | 4,768 |  |  | 1,936 |
Taxes and insurance | 523 |  |  | 211 |  |  | 1,212 |  |  | 761 |
Other expenses(1) | 1,287 |  |  | 668 |  |  | 3,163 |  |  | 1,893 |
Total general and administrative | 15,420 |  |  | 6,663 |  |  | 36,992 |  |  | 19,637 |
Total expenses | 58,352 |  |  | 42,962 |  |  | 144,861 |  |  | 133,298 |
Other income (loss): |  |  |  |  |  |  |
Loss on extinguishment of debt | (390) |  |  | (657) |  |  | (390) |  |  | (657) |
(Loss) gain on sale of real estate, net | — |  |  | (2,286) |  |  | 3,876 |  |  | (2,254) |
Unrealized gain (loss) on other real estate related investments, net | 3,603 |  |  | 1,800 |  |  | 6,858 |  |  | (689) |
(Loss) gain on foreign currency transaction, net | (298) |  |  | — |  |  | 4,115 |  |  | — |
Total other income (loss) | 2,915 |  |  | (1,143) |  |  | 14,459 |  |  | (3,600) |
Income before income tax expense | 77,007 |  |  | 33,276 |  |  | 211,132 |  |  | 72,444 |
Income tax expense | (2,077) |  |  | — |  |  | (3,107) |  |  | — |
Net income | 74,930 |  |  | 33,276 |  |  | 208,025 |  |  | 72,444 |
Net income (loss) attributable to noncontrolling interests | 29 |  |  | (165) |  |  | (1,223) |  |  | (501) |
Net income attributable to CareTrust REIT, Inc. | $ | 74,901 |  |  | $ | 33,441 |  |  | $ | 209,248 |  |  | $ | 72,945 |
(1)Other expenses include certain overhead expenses.

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- Definition The entire disclosure for reporting segments including data and tables. 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