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Fair Value of Assets and Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2015
Fair Value of Assets and Liabilities |
Assets and liabilities recurring and nonrecurring measured at fair value | The following table presents certain of our assets that are measured at fair value on a recurring and non recurring basis at December 31, 2015 categorized by the level of inputs used in the valuation of each asset or liability.
|  |  |  |  |  |  |  |  |  |  | Significant |
|  |  |  |  | Quoted Prices in Active |  | Significant Other |  | Unobservable |
|  |  |  |  | Markets for Identical |  | Observable Inputs |  | Inputs |
Description |  | Total |  | Assets (Level 1) |  | (Level 2) |  | (Level 3) |
Recurring Fair Value Measurements |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Investments in available for sale securities(1) |  | $ | 51,472 |  | $ | 51,472 |  | $ | — |  | $ | — |
Non-Recurring Fair Value Measurements |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Assets held for sale(2) |  | $ | 653 |  | $ | — |  | $ | — |  | $ | 653 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Additional purchase consideration(3) |  | $ | 1,000 |  | $ | — |  | $ | — |  | $ | 1,000 |
| (1) |  | Our investments in available for sale securities include our 4,235,000 common shares of Five Star and our 2,637,408 shares of RMR Inc. class A common stock. The fair values of these shares are based upon quoted prices at December 31, 2015 in active markets (Level 1 inputs). Our historical cost basis for our Five Star and RMR Inc. shares is $14,230 and $69,826, respectively, as of December 31, 2015. The unrealized loss of $747 for our Five Star shares and $31,821 for our RMR Inc. shares as of December 31, 2015 is included in cumulative other comprehensive income (loss) in our consolidated balance sheets. We evaluated the decline in the fair value of the Five Star and RMR Inc. shares and determined that based on the severity and duration of the decline, and our ability and intent to hold the investment for a reasonable period of time sufficient for a forecasted recovery of fair value, we do not consider these investments to be other-than-temporarily impaired at December 31, 2015.
| (2) |  | Assets held for sale consist of one vacant land parcel held for sale as of December 31, 2015. The land parcel is recorded at its estimated fair value less costs to sell. We used an accepted offer from a third party to purchase this parcel to determine its fair value. We also have one senior living community (one building) classified as held for sale as of December 31, 2015. The senior living community assets are recorded at their carrying value, which is lower than what we believe its fair value less estimated costs to sell to be at December 31, 2015. The carrying value of this senior living community is not included in the above table.
| (3) |  | In May 2015, we acquired one senior living community located in Georgia for approximately $9,750, excluding closing costs. Pursuant to the purchase agreement, $1,000 of the purchase price has been withheld until the seller satisfies certain conditions. We anticipate these conditions will be satisfied and therefore have recorded the withheld $1,000 as a liability as of December 31, 2015. We estimate the fair value of this liability at December 31, 2015 to be $1,000, which is th e amount we have agreed to pay in cash when the applicable conditions are satisfied (Level 3 inputs). This liability is included in other liabilities in our consolidated balance sheets as described in Note 3.

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a,b,bb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=36462937&loc=SL7498348-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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