XML 78 R15.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Lease Incentives | 12 Months Ended
--- | ---
Dec. 31, 2019
Lease Incentives |
Lease Incentives | 8. Lease Incentives The following table summarizes lease incentives by component as of December 31, 2019 and 2018 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31,
​ | ​ | ​ | 2019 | ​ | ​ | 2018
Non-contingent lease incentives | ​ | $ | 2,552 | ​ | $ | 14,443
​ The following table summarizes our lease incentive activity for the years ended December 31, 2019, 2018 and 2017 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019 | ​ | 2018 | ​ | 2017 | ​
​ | ​ | ​ | Funding | ​ | ​ | Amortization | ​ | ​ | Write-off | ​ | ​ | Funding | ​ | ​ | Amortization | ​ | ​ | Write-off | ​ | ​ | Funding | ​ | ​ | Amortization | ​ | ​ | Write-off | ​
Non-contingent lease incentives | ​ | $ | 387 | ​ | $ | (385) | ​ | $ | (11,893) | (1) | $ | 1,272 | ​ | $ | (1,733) | ​ | $ | — | ​ | $ | 6,544 | ​ | $ | (1,590) | ​ | $ | (1,205) | (3)
Contingent lease incentives | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (359) | ​ | ​ | (6,219) | (2) | ​ | — | ​ | ​ | (619) | ​ | ​ | (2,634) | (4)
Net increase (decrease) | ​ | $ | 387 | ​ | $ | (385) | ​ | $ | (11,893) | ​ | $ | 1,272 | ​ | $ | (2,092) | ​ | $ | (6,219) | ​ | $ | 6,544 | ​ | $ | (2,209) | ​ | $ | (3,839) | ​
(1) | In accordance with ASC 842 lease standard adopted on January 1, 2019, we wrote-off $12,093 of lease incentives related to leases for which we determined it is not probable we will collect substantially all of the contractual lease obligation through maturity. See Note 2. Summary of Significant Accounting Policies for further discussion. Additionally, we reclassified a $200 interim working capital loan as lease incentive. See Note 7. Notes Receivable for further discussion.
​
(2) | We entered into an amended master lease agreement with Senior Lifestyle Management, LLC (“Senior Lifestyle”). Among the provisions of the amendment, the contingent lease incentive payable to Senior Lifestyle was removed. Therefore, we wrote-off the Senior Lifestyle contingent lease incentive.
​
(3) | Represents the write-off of lease incentives related to two MC communities due to negotiations to transition these properties to another operator in our portfolio that never materialized.
​
(4) | Represents the write-off of a lease incentive related to an ALF due to a change to the business model at the property that resulted in lower net operating income and the improbability of paying the earn-out.
Non-contingent lease incentives represent payments made to our lessees for various reasons including entering into a new lease or lease amendments and extensions. Contingent lease incentives represent potential contingent earn-out payments that may be made to our lessees in the future, as part of our lease agreements. From time to time, we may commit to provide contingent payments to our lessees, upon our properties achieving certain rent coverage ratios. Once the contingent payment becomes probable and estimable, the contingent payment is recorded as a lease incentive. Lease incentives are amortized as a yield adjustment to rental income over the remaining life of the lease.

X
- Definition The entire disclosure for lease incentives. + References No definition available. + Details
Name: | ltc_DeferredLeaseIncentiveCostsTextBlock
Namespace Prefix: | ltc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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