XML 30 R17.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting
Note 9. Segment Reporting
The Company is a REIT that owns, leases, acquires, invests in joint ventures, manages, finances, develops and redevelops its medical outpatient properties and reports the operating results in the accompanying Condensed Consolidated Financial Statements as one reportable segment. The CODM assesses performance and allocates resources based on consolidated net income (loss) as reported on the Company's Condensed Consolidated Statements of Operations. The Company uses net income (loss) to monitor expected versus actual results to assess the segment's performance. The measure of the Company's reportable segment assets is reported on the Company's Condensed Consolidated Balance Sheets as total assets.
Pursuant to ASU 2023-07, Segment Reporting (Topic 280), public entities are required to disclose more detailed information about significant reportable segment expenses that are regularly provided to the CODM.
The table below details the significant expenses for the three months ended March 31, 2025, and 2024.
THREE MONTHS ENDED MARCH 31,
Dollars in thousands20252024
Significant Segment Expenses:
Property taxes$28,810 $32,929 
Personnel24,379 24,619 
Utilities21,951 24,082 
Maintenance28,747 29,639 
Totals$103,887 $111,269 
The following schedule reconciles net loss to segment expenses.
THREE MONTHS ENDED MARCH 31,
Dollars in thousands20252024
Revenue$298,977 $326,805 
Property taxes(28,810)(32,929)
Personnel(24,379)(24,619)
Utilities(21,951)(24,082)
Maintenance(28,747)(29,639)
Other segment expenses 1
(24,606)(24,596)
Transaction costs(1,011)(395)
Depreciation and amortization(150,969)(178,119)
Gain on sales of real estate properties and other assets2,904 22 
Interest expense(54,812)(61,054)
Impairment of real estate properties and credit loss reserves(12,081)(15,937)
Impairment of goodwill— (250,530)
Equity income (loss) from unconsolidated joint ventures1 (422)
Interest and other (expense) income, net95 275 
Net loss$(45,389)$(315,220)
1.Other segment expenses are primarily related to administrative costs, travel, legal, technology, and insurance.