XML 29 R20.htm IDEA: XBRL DOCUMENT
v3.23.3

Supplemental Disclosure of Cash Flow Information | 9 Months Ended
--- | ---
Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract] |
Supplemental Disclosure of Cash Flow Information | 13. Supplemental Disclosure of Cash Flow Information During the period from January 1, 2022 through September 30, 2023, the Company disposed of three owned communities, the Company's triple-net lease obligations on four communities were terminated (including through the acquisition of one formerly leased community), and the Company acquired the remaining 50% equity interest in one community. On May 1, 2023, the Company completed the sale of its one remaining entrance fee community, which was included within the Company's CCRCs segment. The Company received cash proceeds of $12.7 million, net of $29.6 million in mortgage debt repaid and transaction costs, and recognized a net gain on sale of communities of $36.3 million. On November 1, 2023, the Company completed the sale of a CCRC, for which the Company received cash proceeds of $12.7 million, net of transaction costs, at closing. As of September 30, 2023, the community was classified as held for sale within the CCRCs segment, resulting in $12.7 million of property, plant and equipment and leasehold intangibles being presented as assets held for sale within the condensed consolidated balance sheets. The Company was eligible to claim the employee retention credit for certain of its associates under the Coronavirus Aid, Relief, and Economic Security Act of 2020 and subsequent legislation. During the years ended December 31, 2022 and 2021, the Company recognized $9.4 million and $9.9 million, respectively, of employee retention credits on wages paid from March 12, 2020 to December 31, 2021 within other operating income, for which the Company has received $19.3 million in cash through September 30, 2023. During the nine months ended September 30, 2023 and 2022, the Company received cash of $14.7 million and $1.2 million, respectively, for such employee retention credits.
| Nine Months Ended September 30,
(in thousands) | 2023 |  | 2022
Supplemental Disclosure of Cash Flow Information: |  |  |
Interest paid | $ | 171,317 |  |  | $ | 142,242 |
Income taxes paid, net of refunds | $ | (1,233) |  |  | $ | 581 |
Capital expenditures, net of related payables: |  |  |
Capital expenditures - non-development, net | $ | 174,975 |  |  | $ | 128,831 |
Capital expenditures - development, net | 1,309 |  |  | 4,357 |
Capital expenditures - non-development - reimbursable from lessor | 2,244 |  |  | 18,927 |
Trade accounts payable | (3,828) |  |  | (1,543) |
Net cash paid | $ | 174,700 |  |  | $ | 150,572 |
Acquisition of assets, net of cash acquired: |  |  |
Prepaid expenses and other assets, net | $ | 23 |  |  | $ | — |
Property, plant and equipment and leasehold intangibles, net | 6,872 |  |  | 4 |
Investment in unconsolidated ventures | (3,395) |  |  | — |
Financing lease obligations | — |  |  | 6,000 |
Other liabilities | (384) |  |  | — |
Other non-operating loss (income) | (2,542) |  |  | — |
Net cash paid | $ | 574 |  |  | $ | 6,004 |
Proceeds from sale of assets, net: |  |  |
Prepaid expenses and other assets, net | $ | (1,660) |  |  | $ | (1,301) |
Assets held for sale | — |  |  | (3,668) |
Property, plant and equipment and leasehold intangibles, net | (23,733) |  |  | (100) |
Refundable fees and deferred revenue | 9,347 |  |  | — |
Other liabilities | 10,021 |  |  | (164) |
Non-operating (gain) loss on sale of assets, net | (860) |  |  | (611) |
Loss (gain) on sale of communities, net | (36,296) |  |  | — |
Net cash received | $ | (43,181) |  |  | $ | (5,844) |
Supplemental Schedule of Non-cash Operating, Investing, and Financing Activities: |  |  |
Non-cash lease transactions, net: |  |  |
Property, plant and equipment and leasehold intangibles, net | $ | (51,542) |  |  | $ | 11,067 |
Operating lease right-of-use assets | 216,492 |  |  | 11,219 |
Financing lease obligations | 88,844 |  |  | (6,307) |
Operating lease obligations | (253,794) |  |  | (15,979) |
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, 2023 |  | December 31, 2022
Reconciliation of cash, cash equivalents, and restricted cash: |  |  |
Cash and cash equivalents | $ | 331,716 |  |  | $ | 398,850 |
Restricted cash | 41,265 |  |  | 27,735 |
Long-term restricted cash | 30,295 |  |  | 47,963 |
Total cash, cash equivalents, and restricted cash | $ | 403,276 |  |  | $ | 474,548 |

X
- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//230/tableOfContent + Details
Name: | us-gaap_CashFlowSupplementalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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