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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2018
Accounting Policies [Abstract] |
Cash and escrow deposits - restricted | The Company defines cash and cash equivalents as cash and investments with maturities of 90 days or less when purchased. Restricted cash consists principally of deposits required by certain lenders and lessors pursuant to the applicable agreement and consists of the following:
| December 31,
(in thousands) | 2018 |  | 2017
Current: |  |  |  |  |
Real estate tax and property insurance escrows | $ | 18,177 |  |  | $ | 21,603 |
Replacement reserve escrows | 8,273 |  |  | 10,960 |
Resident deposits | 489 |  |  | 678 |
Other | 744 |  |  | 3,948 |
Subtotal | 27,683 |  |  | 37,189 |
Long term: |  |  |  |  |
Insurance deposits | 14,370 |  |  | 12,364 |
CCRC escrows | 9,618 |  |  | 8,526 |
Debt service reserve | 280 |  |  | 1,820 |
Subtotal | 24,268 |  |  | 22,710 |
Total | $ | 51,951 |  |  | $ | 59,899 |
Property, plant and equipment, useful lives | Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, which are as follows:
Asset Category |  | Estimated Useful Life (in years)
Buildings and improvements |  | 40
Furniture and equipment |  | 3 – 7
Resident lease intangibles |  | 1 – 3
As of December 31, 2018 and 2017, net property, plant and equipment and leasehold intangibles, which include assets under capital and financing leases, consisted of the following:
| As of December 31,
(in thousands) | 2018 |  | 2017
Land | $ | 456,912 |  |  | $ | 449,295 |
Buildings and improvements | 4,919,789 |  |  | 4,923,621 |
Leasehold improvements | 123,366 |  |  | 124,850 |
Furniture and equipment | 1,036,113 |  |  | 1,006,889 |
Resident and leasehold operating intangibles | 477,827 |  |  | 594,748 |
Construction in progress | 57,636 |  |  | 74,678 |
Assets under capital and financing leases | 1,251,159 |  |  | 1,742,384 |
Property, plant and equipment and leasehold intangibles | 8,322,802 |  |  | 8,916,465 |
Accumulated depreciation and amortization | (3,047,375 | ) |  | (3,064,320 | )
Property, plant and equipment and leasehold intangibles, net | $ | 5,275,427 |  |  | $ | 5,852,145 |
Definite lived intangible assets, useful lives | Amortization of the Company's definite-lived intangible assets is computed using the straight-line method over the estimated useful lives of the assets, which are as follows:
Asset Category |  | Estimated Useful Life (in years)
Trade names |  | 2 – 5
Other |  | 3 – 9
The following is a summary of other intangible assets.
| December 31, 2018
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Community purchase options | $ | 4,738 |  |  | $ | — |  |  | $ | 4,738 |
Health care licenses | 42,323 |  |  | — |  |  | 42,323 |
Trade names | 27,800 |  |  | (26,295 | ) |  | 1,505 |
Management contracts | 9,610 |  |  | (6,704 | ) |  | 2,906 |
Total | $ | 84,471 |  |  | $ | (32,999 | ) |  | $ | 51,472 |
| December 31, 2017
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Community purchase options | $ | 9,533 |  |  | $ | — |  |  | $ | 9,533 |
Health care licenses | 50,927 |  |  | — |  |  | 50,927 |
Trade names | 27,800 |  |  | (23,714 | ) |  | 4,086 |
Management contracts | 11,360 |  |  | (7,929 | ) |  | 3,431 |
Total | $ | 99,620 |  |  | $ | (31,643 | ) |  | $ | 67,977 |

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