XML 30 R21.htm IDEA: XBRL DOCUMENT
v3.23.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Information | 14. Segment Information As of June 30, 2023, the Company has three reportable segments: Independent Living; Assisted Living and Memory Care; and CCRCs. Operating segments are defined as components of an enterprise that engage in business activities from which it may earn revenues and incur expenses; for which separate financial information is available; and whose operating results are regularly reviewed by the chief operating decision maker to assess the performance of the individual segment and make decisions about resources to be allocated to the segment. Independent Living. The Company's Independent Living segment includes owned or leased communities that are primarily designed for middle to upper income seniors who desire to live in a residential setting that feels like home, without the efforts of ownership. The majority of the Company's independent living communities consist of both independent and assisted living units in a single community, which allows residents to age-in-place by providing them with a broad continuum of senior independent and assisted living services to accommodate their changing needs. Assisted Living and Memory Care. The Company's Assisted Living and Memory Care segment includes owned or leased communities that offer housing and 24-hour assistance with activities of daily living for the Company's residents. The Company's assisted living and memory care communities include both freestanding, multi-story communities, as well as smaller, freestanding, single story communities. The Company also provides memory care services at freestanding memory care communities that are specially designed for residents with Alzheimer's disease and other dementias. CCRCs. The Company's CCRCs segment includes large owned or leased communities that offer a variety of living arrangements and services to accommodate a broad spectrum of physical ability and healthcare needs. Most of the Company's CCRCs have independent living, assisted living, memory care, and skilled nursing available on one campus. All Other. All Other includes communities operated by the Company pursuant to management agreements. Under the management agreements for these communities, the Company receives management fees as well as reimbursement of expenses it incurs on behalf of the owners. The following tables set forth selected segment financial data.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Revenue and other operating income: |  |  |  |  |  |  |
Independent Living(1) | $ | 140,888 |  |  | $ | 126,737 |  |  | $ | 281,544 |  |  | $ | 251,143 |
Assisted Living and Memory Care(1) | 490,286 |  |  | 440,866 |  |  | 979,090 |  |  | 873,354 |
CCRCs(1) | 83,109 |  |  | 81,196 |  |  | 169,381 |  |  | 161,652 |
All Other | 36,509 |  |  | 40,717 |  |  | 74,040 |  |  | 81,187 |
Total revenue and other operating income | $ | 750,792 |  |  | $ | 689,516 |  |  | $ | 1,504,055 |  |  | $ | 1,367,336 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Segment operating income:(2) |  |  |  |  |  |  |
Independent Living | $ | 46,361 |  |  | $ | 38,709 |  |  | $ | 93,194 |  |  | $ | 76,393 |
Assisted Living and Memory Care | 124,616 |  |  | 87,588 |  |  | 249,209 |  |  | 164,451 |
CCRCs | 12,188 |  |  | 8,838 |  |  | 25,687 |  |  | 18,877 |
All Other | 2,510 |  |  | 3,329 |  |  | 5,087 |  |  | 6,658 |
Total segment operating income | 185,675 |  |  | 138,464 |  |  | 373,177 |  |  | 266,379 |
General and administrative expense (including non-cash stock-based compensation expense) | 45,326 |  |  | 41,752 |  |  | 93,945 |  |  | 86,878 |
Facility operating lease expense | 50,512 |  |  | 41,538 |  |  | 96,639 |  |  | 83,102 |
Depreciation and amortization | 84,448 |  |  | 86,623 |  |  | 169,382 |  |  | 172,307 |
Asset impairment | 520 |  |  | 2,599 |  |  | 520 |  |  | 11,674 |
Loss (gain) on sale of communities, net | (36,296) |  |  | — |  |  | (36,296) |  |  | — |
Income (loss) from operations | $ | 41,165 |  |  | $ | (34,048) |  |  | $ | 48,987 |  |  | $ | (87,582) |
| As of
(in thousands) | June 30, 2023 |  | December 31, 2022
Total assets: |  |  |
Independent Living(3) | $ | 1,241,836 |  |  | $ | 1,267,825 |
Assisted Living and Memory Care | 3,376,440 |  |  | 3,329,516 |
CCRCs | 636,509 |  |  | 664,502 |
Corporate and All Other | 649,950 |  |  | 675,219 |
Total assets | $ | 5,904,735 |  |  | $ | 5,937,062 |
(1)All revenue and other operating income is earned from external third parties in the United States.Segment operating income is defined as segment revenues and other operating income less segment facility operating expenses (excluding facility depreciation and amortization) and costs incurred on behalf of managed communities.(3)The Company's Independent Living segment had a carrying amount of goodwill of $27.3 million as of both June 30, 2023 and December 31, 2022.

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration