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Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information
13. Segment Information

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
September 30,		Nine Months Ended
September 30,
(in thousands)2024202320242023
Revenue and other operating income:
Independent Living(1)
$150,380 $141,449 $448,870 $422,993 
Assisted Living and Memory Care(1)
510,084 496,232 1,528,147 1,475,322 
CCRCs(1)
83,265 82,065 250,662 251,446 
All Other40,438 37,545 116,860 111,585 
Total revenue and other operating income$784,167 $757,291 $2,344,539 $2,261,346 
Segment operating income:(2)
Independent Living$48,747 $44,702 $147,724 $137,896 
Assisted Living and Memory Care131,768 126,731 405,381 375,940 
CCRCs14,932 10,902 46,235 36,589 
All Other2,676 2,566 7,910 7,653 
Total segment operating income198,123 184,901 607,250 558,078 
General and administrative expense (including non-cash stock-based compensation expense)44,929 43,076 137,325 137,021 
Facility operating lease expense51,937 53,145 154,397 149,784 
Depreciation and amortization90,064 85,932 264,219 255,314 
Asset impairment934 9,086 2,642 9,606 
Loss (gain) on sale of communities, net— — — (36,296)
Income (loss) from operations$10,259 $(6,338)$48,667 $42,649 
As of
(in thousands)September 30, 2024December 31, 2023
Total assets:
Independent Living(3)
$1,226,716 $1,206,021 
Assisted Living and Memory Care3,651,503 3,315,921 
CCRCs647,693 612,521 
Corporate and All Other413,211 438,972 
Total assets$5,939,123 $5,573,435 

(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 total carrying amount of goodwill is included within the Independent Living segment and was $27.3 million as of both September 30, 2024 and December 31, 2023.