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Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Information |
Segment Information |
13. | Segment Information
We use the management approach in determining the reportable operating segments. The management approach considers the internal organization and reporting used by our chief operating decision maker (“CODM”) for making operating decisions, allocating resources and assessing performance as the source for determining our reportable segments. In making this determination, we:
| i. | Determine our CODM;
| ii. | identify and analyze our potential business components;
| iii. | identify our operating segments; and
| iv. | determine whether there are multiple operating segments requiring presentation as separate reportable segments.
During the years ended March 31, 2025 and 2024, the CODM has been collectively identified as our Executive Chairman and Co-Presidents, who share the responsibility for allocating resources and assessing segment performance. Our CODM evaluates the performance of our investments based on Net income attributable to LTC Properties, Inc. During the three months ended March 31, 2025 and 2024, we operated under one reportable segment. For more information see Segment Information within Note 2. Real Estate Investments above. The table below provides certain information on our segment information (unaudited, dollar amounts in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ | ​ | 2025 | ​ | 2024 | ​
Revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Rental income | ​ | $ | 31,444 | ​ | $ | 33,549 | ​
Interest income from financing receivables | ​ | ​ | 7,002 | ​ | ​ | 3,830 | ​
Interest income from mortgage loans | ​ | ​ | 9,179 | ​ | ​ | 12,448 | ​
Interest and other income | ​ | ​ | 1,406 | ​ | ​ | 1,539 | ​
Total revenues | ​ | ​ | 49,031 | ​ | ​ | 51,366 | ​
Expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ | ​ | 7,913 | ​ | ​ | 11,045 | ​
Depreciation and amortization | ​ | ​ | 9,162 | ​ | ​ | 9,095 | ​
Provision for credit losses | ​ | ​ | 3,052 | ​ | ​ | 24 | ​
Transaction costs | ​ | ​ | 441 | ​ | ​ | 266 | ​
Property tax expense | ​ | ​ | 3,107 | ​ | ​ | 3,383 | ​
General and administrative expenses | ​ | ​ | 6,971 | ​ | ​ | 6,491 | ​
Total expenses | ​ | ​ | 30,646 | ​ | ​ | 30,304 | ​
Other operating income: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gain on sale of real estate, net | ​ | ​ | 171 | ​ | ​ | 3,251 | ​
Operating income | ​ | ​ | 18,556 | ​ | ​ | 24,313 | ​
Income from unconsolidated joint ventures | ​ | ​ | 3,665 | ​ | ​ | 376 | ​
Net income | ​ | ​ | 22,221 | ​ | ​ | 24,689 | ​
Income allocated to non-controlling interests | ​ | ​ | (1,541) | ​ | ​ | (459) | ​
Net income attributable to LTC Properties, Inc. | ​ | $ | 20,680 | ​ | $ | 24,230 | ​
​

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- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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