XML 34 R25.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Investment Activity (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Real Estate [Abstract] |
Schedule of Asset Disposition | During the nine months ended September 30, 2022, we completed the following real estate property dispositions within our Real Estate Investments reportable segment as described below ($ in thousands):
Operator |  | Date |  | Properties |  | Asset Class |  | Net Proceeds |  | Net Real Estate Investment |  | Gain |  | Impairment 1
Hospital Corporation of America |  | Q1 2022 |  | 1 |  | MOB |  | $ | 4,868 |  |  | $ | 1,904 |  |  | $ | 2,964 |  |  | $ | — |
Vitality Senior Living 2 |  | Q1 2022 |  | 1 |  | SLC |  | 8,302 |  |  | 8,285 |  |  | 17 |  |  | — |
Holiday Retirement (“Holiday”)2 |  | Q2 2022 |  | 1 |  | ILF |  | 2,990 |  |  | 3,020 |  |  | — |  |  | 30 |
Chancellor Senior Living 2 |  | Q2 2022 |  | 2 |  | ALF |  | 7,305 |  |  | 7,357 |  |  | — |  |  | 52 |
Bickford 2 |  | Q2 2022 |  | 3 |  | ALF |  | 25,959 |  |  | 28,268 |  |  | — |  |  | 2,309 |
Comfort Care |  | Q2 2022 |  | 4 |  | ALF |  | 40,000 |  |  | 38,445 |  |  | 1,556 |  |  | — |
Helix Healthcare |  | Q2 2022 |  | 1 |  | HOSP |  | 19,500 |  |  | 10,535 |  |  | 8,965 |  |  | — |
Discovery Senior Living 2 |  | Q3 2022 |  | 2 |  | ALF/SLC |  | 16,379 |  |  | 15,159 |  |  | 1,220 |  |  | — |
National HealthCare Corporation (“NHC”) |  | Q3 2022 |  | 7 |  | SNF |  | 43,686 |  |  | 30,066 |  |  | 13,620 |  |  | — |
|  |  |  |  |  |  |  | $ | 168,989 |  |  | $ | 143,039 |  |  | $ | 28,342 |  |  | $ | 2,391 |
1 Impairments are included in “Loan and realty losses” in Condensed Consolidated Statements of Income for the nine months ended September 30, 2022. 2 Total impairment charges recognized on these properties were $65.4 million, of which $28.5 million were recognized in the nine months ended September 30, 2022.
Schedule of Tenant Concentrations | The following table contains information regarding tenant concentration, excluding $2.6 million for our corporate office, $336.6 million for SHOP, and a credit loss reserve of $6.9 million, based on the percentage of revenues for the nine months ended September 30, 2022 and 2021, related to tenants or affiliates of tenants, that exceed 10% of total revenues ($ in thousands):
| as of September 30, 2022 |  | Revenues 1 |
| Asset |  | Gross Real |  | Notes |  | Nine Months Ended September 30, |
| Class |  | Estate 2 |  | Receivable |  | 2022 |  |  | 2021 |
Senior Living Communities | EFC |  | $ | 573,631 |  |  | $ | 46,669 |  |  | $ | 38,325 |  | 18% |  | $ | 38,094 |  | 17%
NHC | SNF |  | 133,770 |  |  | — |  |  | 27,875 |  | 13% |  | 28,290 |  | 12%
Bickford 3 | ALF |  | 412,304 |  |  | 46,422 |  |  | N/A | N/A |  | 26,224 |  | 11%
Holiday 3 | ILF |  | — |  |  | — |  |  | N/A | N/A |  | 22,811 |  | 10%
All others, net | Various |  | 1,313,238 |  |  | 121,018 |  |  | 109,766 |  | 53% |  | 106,110 |  | 46%
Escrow funds from tenants |  |  |  |  |  |  |  |  |  |  |
for property operating expenses | Various |  | — |  |  | — |  |  | 7,553 |  | 4% |  | 7,519 |  | 4%
|  |  | $ | 2,432,943 |  |  | $ | 214,109 |  |  | 183,519 |  |  |  | 229,048 |  |
Resident fees and services 4 |  |  |  |  |  |  | 24,005 |  | 12% |  | — |  | —%
|  |  |  |  |  |  | $ | 207,524 |  |  |  | $ | 229,048 |  |
1 Includes interest income on notes receivable and rental income from properties classified as held for sale. 2 Amounts include any properties classified as held for sale. 3 Below 10% for the nine months ended September 30, 2022. Therefore, revenues are included in All others, net. 4 There is no tenant concentration in resident fees and services because these agreements are with individual residents.
Schedule of Future Minimum Base Rent | Future minimum lease payments to be received by us under our operating leases at September 30, 2022, are as follows ($ in thousands):
Remainder of 2022 | $ | 47,241 |
2023 | 183,792 |
2024 | 183,825 |
2025 | 186,425 |
2026 | 189,282 |
2027 | 149,849 |
Thereafter | 599,001 |
| $ | 1,539,415 |
Schedule of Fixed and Variable Lease Payments | The table below indicates the revenue recognized as a result of fixed and variable lease escalators ($ in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Lease payments based on fixed escalators, net of deferrals | $ | 53,394 |  |  | $ | 59,027 |  |  | $ | 172,767 |  |  | $ | 188,008 |
Lease payments based on variable escalators | 1,224 |  |  | 1,288 |  |  | 2,452 |  |  | 3,201 |
Straight-line rent income | 2,476 |  |  | 3,798 |  |  | (11,360) |  |  | 12,189 |
Escrow funds received from tenants for property operating expenses | 2,358 |  |  | 3,182 |  |  | 7,553 |  |  | 7,519 |
Amortization and write-off of lease incentives | (58) |  |  | (252) |  |  | (7,477) |  |  | (774) |
Rental income | $ | 59,394 |  |  | $ | 67,043 |  |  | $ | 163,935 |  |  | $ | 210,143 |

X
- Definition Tabular Disclosure of Assets Dispositions + References No definition available. + Details
Name: | nhi_AssetDispositionTableTextBlock
Namespace Prefix: | nhi_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Tenant Concentrations + References No definition available. + Details
Name: | nhi_ScheduleOfTenantConcentrationsTableTextBlock
Namespace Prefix: | nhi_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Fixed and Variable Lease Payments [Table Text Block] + References No definition available. + Details
Name: | nhi_ScheduleofFixedandVariableLeasePaymentsTableTextBlock
Namespace Prefix: | nhi_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=124258985&loc=SL77919396-209981 + Details
Name: | us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RealEstateAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration