Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Operating Results and Net Investments for Each of Reportable Operating Segment

Selected Segment Results of Operations

The following table presents selected results of operations of the Company's reportable segments:



(In thousands)	Healthcare			Industrial			Hospitality			CLNC			Other Equity and Debt			Investment Management			Amounts Not Allocated to Segments			Total

Year Ended December 31, 2018
Total revenues	$	592,455		$	290,956		$	849,513		$	—		$	739,167		$	183,946		$	9,239		$	2,665,276
Property operating expenses	271,166			83,003			563,453			—			316,037			—			—			1,233,659
Interest expense	194,898			42,713			153,395			—			150,032			—			54,513			595,551
Depreciation and amortization	164,389			129,104			144,528			—			99,525			28,653			6,207			572,406
Provision for loan losses	213			—			—			—			42,821			—			—			43,034
Impairment loss	217,524			948			72,469			—			79,432			217,850			—			588,223
Gain on sale of real estate	—			7,633			—			—			159,598			—			—			167,231
Equity method earnings (losses)	—			—			—			(65,366		)	99,400			(43,435		)	—			(9,401		)
Equity method earnings—carried interest	—			—			—			—			—			19,961			—			19,961
Income tax benefit (expense)	(4,991		)	(40		)	9,875			—			(4,298		)	59,030			205			59,781
Income (loss) from continuing operations	(283,516		)	26,749			(90,581		)	(65,366		)	268,870			(128,255		)	(222,974		)	(495,073		)
Loss from discontinued operations	—			—			—			—			(102		)	—			—			(102		)
Net income (loss)	(283,516		)	26,749			(90,581		)	(65,366		)	268,768			(128,255		)	(222,974		)	(495,175		)
Net income (loss) attributable to Colony Capital, Inc.	(199,277		)	4,246			(82,798		)	(61,457		)	143,065			(120,286		)	(203,100		)	(519,607		)



(In thousands)	Healthcare			Industrial			Hospitality			CLNC		Other Equity and Debt			Investment Management			Amounts Not Allocated to Segments			Total

Year Ended December 31, 2017
Total revenues	$	613,169		$	243,172		$	815,831		$	—	$	873,046		$	244,654		$	6,862		$	2,796,734
Property operating expenses	274,528			67,196			537,884			—		233,901			—			—			1,113,509
Interest expense	185,256			38,566			134,729			—		161,993			—			54,278			574,822
Depreciation and amortization	183,897			109,265			133,269			—		128,942			56,616			5,790			617,779
Provision for loan losses	1,588			—			—			—		18,153			—			—			19,741
Impairment loss	14,375			44			—			—		30,867			375,074			—			420,360
Gain on sale of real estate	—			24,612			—			—		112,758			—			—			137,370
Equity method earnings	—			—			—			—		265,079			20,072			—			285,151
Income tax benefit (expense)	(5,639		)	(2,252		)	(2,779		)	—		(3,950		)	111,205			1,814			98,399
Income (loss) from continuing operations	(64,767		)	37,497			(9,863		)	—		567,752			(170,168		)	(438,619		)	(78,168		)
Income from discontinued operations	—			—			—			—		995			—			12,560			13,555
Net income (loss)	(64,767		)	37,497			(9,863		)	—		568,747			(170,168		)	(426,059		)	(64,613		)
Net income (loss) attributable to Colony Capital, Inc.	(51,428		)	12,537			(9,199		)	—		426,052			(182,038		)	(393,815		)	(197,891		)
Year Ended December 31, 2016
Total revenues	$	—		$	196,357		$	—		$	—	$	569,780		$	68,331		$	4,389		$	838,857
Property operating expenses	—			55,924			—			—		62,537			—			—			118,461
Interest expense	—			44,834			—			—		80,503			—			44,746			170,083
Depreciation and amortization	—			88,854			—			—		63,480			14,767			4,581			171,682
Provision for loan losses	—			—			—			—		35,005			—			—			35,005
Impairment loss	—			407			—			—		10,990			320			—			11,717
Gain on sale of real estate	—			2,888			—			—		70,728			—			—			73,616
Equity method earnings	—			—			—			—		97,188			2,187			—			99,375
Income tax benefit (expense)	—			(586		)	—			—		(10,143		)	6,608			(661		)	(4,782		)
Net income (loss)	—			(3,003		)	—			—		431,903			21,229			(159,403		)	290,726
Net income (loss) attributable to Colony Capital, Inc.	—			(911		)	—			—		226,202			17,903			(127,876		)	115,318

Assets and Equity Method Investments of Reportable Segments

Total assets and equity method investments of the reportable segments are summarized as follows:



(In thousands)	Healthcare		Industrial		Hospitality		CLNC		Other Equity and Debt		Investment Management		Amounts Not Allocated to Segments		Total
December 31, 2018
Total assets	$	5,395,550	$	3,185,906	$	3,980,988	$	1,037,754	$	6,371,999	$	1,983,911	$	259,141	$	22,215,249
Equity method investments	—		—		—		1,037,754		1,054,295		194,304		3,742		2,290,095
December 31, 2017
Total assets	$	5,813,552	$	2,810,135	$	4,094,596	$	—	$	9,251,963	$	2,714,840	$	100,564	$	24,785,650
Equity method investments	—		—		—		—		1,315,670		207,642		3,742		1,527,054

Revenue by Geographic Areas

Geographic information about the Company's total income and long-lived assets are as follows. Geography is generally presented as the location in which the income producing assets reside or the location in which income generating services are performed.



	Year Ended December 31,
(In thousands)	2018		2017		2016
Total income by geography:
United States	$	2,311,230	$	2,741,862	$	732,928
Europe	329,609		310,783		194,923
Other	302		3,610		6,083
Total ⁽¹⁾	$	2,641,141	$	3,056,255	$	933,934



(In thousands)	December 31, 2018		December 31, 2017
Long-lived assets by geography:
United States	$	12,454,871	$	13,244,197
Europe	1,600,623		1,749,282
Total ⁽²⁾	$	14,055,494	$	14,993,479

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⁽¹⁾	Total income includes earnings from investments in unconsolidated ventures and excludes cost reimbursement income from affiliates.


⁽²⁾	Long-lived assets comprise real estate, real estate related intangible assets, and fixed assets, and exclude financial instruments, assets held for sale and investment management related intangible assets.

Long-lived Assets by Geographic Areas



(In thousands)	December 31, 2018		December 31, 2017
Long-lived assets by geography:
United States	$	12,454,871	$	13,244,197
Europe	1,600,623		1,749,282
Total ⁽²⁾	$	14,055,494	$	14,993,479

__________


⁽¹⁾	Total income includes earnings from investments in unconsolidated ventures and excludes cost reimbursement income from affiliates.


⁽²⁾	Long-lived assets comprise real estate, real estate related intangible assets, and fixed assets, and exclude financial instruments, assets held for sale and investment management related intangible assets.