Supplemental Disclosure of Cash Flow Information

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosure of Cash Flow Information

14. Supplemental Disclosure of Cash Flow Information

During the period from January 1, 2021 through September 30, 2022, the Company disposed of five owned communities and the Company's triple-net lease obligations on six communities were terminated (including through the acquisition of one formerly leased community). During the nine months ended September 30, 2022, the Company completed the sale of two owned communities for cash proceeds of $4.4 million, net of transaction costs, and recognized a net gain on sale of assets of $0.7 million for these sales. During the nine months ended September 30, 2021, the Company completed the sale of two owned

communities for cash proceeds of $8.5 million, net of transaction costs, and recognized a net gain on sale of assets of $0.5 million for these sales.

On July 1, 2021, the Company completed the sale of 80% of its equity in its Health Care Services segment to affiliates of HCA

Healthcare for a purchase price of $400.0 million in cash, subject to certain adjustments set forth in the Securities Purchase Agreement (the "Purchase Agreement") dated February 24, 2021, including a reduction for the remaining outstanding balance as of the closing of Medicare advance payments and deferred payroll tax payments related to the HCS Sale. The Company received net cash proceeds of $312.6 million, including $305.8 million at closing on July 1, 2021 and $6.8 million upon completion of the post-closing net working capital adjustment in October 2021. The Purchase Agreement also contained certain agreed upon indemnities for the benefit of the purchaser. As of July 1, 2021, the Company recognized a $100.0 million asset within investment in unconsolidated ventures on its condensed consolidated balance sheet for the estimated fair value of its retained 20% noncontrolling interest in the HCS Venture. Refer to Note 15 for selected financial data for the Health Care Services segment through June 30, 2021.


	Nine Months Ended September 30,
(in thousands)	2022		2021
Supplemental Disclosure of Cash Flow Information:
Interest paid	$	142,242	$	142,268
Income taxes paid, net of refunds	$	581	$	6,447

Capital expenditures, net of related payables:
Capital expenditures - non-development, net	$	128,831	$	91,438
Capital expenditures - development, net	4,357		2,726
Capital expenditures - non-development - reimbursable	18,927		34,640
Trade accounts payable	(1,543)		(2,987)
Net cash paid	$	150,572	$	125,817
Proceeds from HCS Sale, net:
Accounts receivable, net	$	—	$	(57,582)
Property, plant and equipment and leasehold intangibles, net	—		(1,806)
Operating lease right-of-use assets	—		(8,145)
Investment in unconsolidated ventures	—		100,000
Goodwill	—		(126,810)
Prepaid expenses and other assets, net	—		(26,409)
Trade accounts payable	—		1,387
Accrued expenses	—		25,226
Refundable fees and deferred revenue	—		57,314
Operating lease obligations	—		8,145
Other liabilities	—		11,135
Loss (gain) on sale of assets, net	—		(288,233)
Net cash received	$	—	$	(305,778)









Proceeds from sale of assets, net (excluding HCS Sale):
Prepaid expenses and other assets, net	$	(1,301)	$	—
Assets held for sale	(3,668)		(8,040)
Property, plant and equipment and leasehold intangibles, net	(100)		(568)





Other liabilities	(164)		(22)
Loss (gain) on sale of assets, net	(611)		(1,175)
Net cash received	$	(5,844)	$	(9,805)





Supplemental Schedule of Non-cash Operating, Investing, and Financing Activities:
Assets designated as held for sale:

Assets held for sale	$	—	$	3,612
Property, plant and equipment and leasehold intangibles, net	—		(3,612)


Net	$	—	$	—
Non-cash lease transactions, net:

Property, plant and equipment and leasehold intangibles, net	$	11,067	$	3,521

Operating lease right-of-use assets	11,219		17,013
Financing lease obligations	(6,307)		(3,521)
Operating lease obligations	(15,979)		(17,013)




Net	$	—	$	—

Restricted cash consists principally of deposits as security for self-insured retention risk under workers' compensation programs and property insurance programs, escrow deposits for real estate taxes, property insurance, and capital expenditures, and debt service reserve accounts required by certain lenders under mortgage debt agreements. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sums to the total of the same such amounts shown in the condensed consolidated statements of cash flows.


(in thousands)	September 30, 2022		December 31, 2021
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	299,201	$	347,031
Restricted cash	37,258		26,845
Long-term restricted cash	58,358		64,438
Total cash, cash equivalents, and restricted cash	$	394,817	$	438,314