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Segment Reporting | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting We have four operating segments, of which three are separate reporting segments. We aggregate the reporting units in each of our MOBs, our triple net leased senior living communities and our managed senior living communities into three reporting segments, based on their similar operating and economic characteristics. The first reporting segment includes MOBs where the tenants pay us rent. The second reporting segment includes triple net leased senior living communities that provide short term and long term residential care and other services for residents and from which we receive rents from the operators. The third reporting segment includes managed senior living communities that provide short term and long term residential care and other services for residents where we pay fees to the operator to manage the communities for our account. Our fourth segment includes all of our other operations, including certain properties that offer wellness, fitness and spa services to members and with respect to which we receive rents from operators, which we do not consider to be sufficiently material to constitute a separate reporting segment.
|  | For the Three Months Ended June 30, 2019
|  | MOBs |  | Triple Net Leased Senior Living Communities |  | Managed Senior Living Communities |  | All Other Operations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  | $ | 104,385 |  |  | $ | 44,037 |  |  | $ | — |  |  | $ | 4,675 |  |  | $ | 153,097 |
Residents fees and services |  | — |  |  | — |  |  | 108,906 |  |  | — |  |  | 108,906 |
Total revenues |  | 104,385 |  |  | 44,037 |  |  | 108,906 |  |  | 4,675 |  |  | 262,003 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property operating expenses |  | 32,525 |  |  | — |  |  | 87,668 |  |  | — |  |  | 120,193 |
Depreciation and amortization |  | 35,037 |  |  | 21,457 |  |  | 16,483 |  |  | 947 |  |  | 73,924 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 8,867 |  |  | 8,867 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | — |  |  | 903 |  |  | 903 |
Impairment of assets |  | 96 |  |  | 2,117 |  |  | — |  |  | — |  |  | 2,213 |
Total expenses |  | 67,658 |  |  | 23,574 |  |  | 104,151 |  |  | 10,717 |  |  | 206,100 |
Gain on sale of properties |  | 2,625 |  |  | 15,207 |  |  | — |  |  | — |  |  | 17,832 |
Dividend income |  | — |  |  | — |  |  | — |  |  | 923 |  |  | 923 |
Unrealized gains and losses on equity securities, net |  | — |  |  | — |  |  | — |  |  | (64,448 | ) |  | (64,448 | )
Interest and other income |  | — |  |  | — |  |  | — |  |  | 238 |  |  | 238 |
Interest expense |  | (5,988 | ) |  | (170 | ) |  | (730 | ) |  | (39,524 | ) |  | (46,412 | )
Loss on early extinguishment of debt |  | — |  |  | — |  |  | (17 | ) |  | — |  |  | (17 | )
Income (loss) from continuing operations before income tax benefit and equity in earnings of an investee |  | 33,364 |  |  | 35,500 |  |  | 4,008 |  |  | (108,853 | ) |  | (35,981 | )
Income tax benefit |  | — |  |  | — |  |  | — |  |  | 35 |  |  | 35 |
Equity in earnings of an investee |  | — |  |  | — |  |  | — |  |  | 130 |  |  | 130 |
Net income (loss) |  | 33,364 |  |  | 35,500 |  |  | 4,008 |  |  | (108,688 | ) |  | (35,816 | )
Net income attributable to noncontrolling interest |  | (1,413 | ) |  | — |  |  | — |  |  | — |  |  | (1,413 | )
Net income (loss) attributable to common shareholders |  | $ | 31,951 |  |  | $ | 35,500 |  |  | $ | 4,008 |  |  | $ | (108,688 | ) |  | $ | (37,229 | )
|  | For the Six Months Ended June 30, 2019
|  | MOBs |  | Triple Net Leased Senior Living Communities |  | Managed Senior Living Communities |  | All Other Operations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  | $ | 207,606 |  |  | $ | 94,357 |  |  | $ | — |  |  | $ | 9,375 |  |  | $ | 311,338 |
Residents fees and services |  | — |  |  | — |  |  | 216,951 |  |  | — |  |  | 216,951 |
Total revenues |  | 207,606 |  |  | 94,357 |  |  | 216,951 |  |  | 9,375 |  |  | 528,289 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property operating expenses |  | 64,702 |  |  | — |  |  | 172,713 |  |  | — |  |  | 237,415 |
Depreciation and amortization |  | 71,138 |  |  | 40,879 |  |  | 32,243 |  |  | 1,894 |  |  | 146,154 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 18,683 |  |  | 18,683 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | — |  |  | 8,717 |  |  | 8,717 |
Impairment of assets |  | 96 |  |  | 8,323 |  |  | — |  |  | — |  |  | 8,419 |
Total expenses |  | 135,936 |  |  | 49,202 |  |  | 204,956 |  |  | 29,294 |  |  | 419,388 |
Gain on sale of properties |  | 2,503 |  |  | 15,207 |  |  | — |  |  | — |  |  | 17,710 |
Dividend income |  | — |  |  | — |  |  | — |  |  | 1,846 |  |  | 1,846 |
Unrealized gains and losses on equity securities, net |  | — |  |  | — |  |  | — |  |  | (41,516 | ) |  | (41,516 | )
Interest and other income |  | — |  |  | — |  |  | — |  |  | 352 |  |  | 352 |
Interest expense |  | (12,018 | ) |  | (408 | ) |  | (1,550 | ) |  | (78,047 | ) |  | (92,023 | )
Loss on early extinguishment of debt |  | — |  |  | — |  |  | (17 | ) |  | — |  |  | (17 | )
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee |  | 62,155 |  |  | 59,954 |  |  | 10,428 |  |  | (137,284 | ) |  | (4,747 | )
Income tax expense |  | — |  |  | — |  |  | — |  |  | (99 | ) |  | (99 | )
Equity in earnings of an investee |  | — |  |  | — |  |  | — |  |  | 534 |  |  | 534 |
Net income (loss) |  | 62,155 |  |  | 59,954 |  |  | 10,428 |  |  | (136,849 | ) |  | (4,312 | )
Net income attributable to noncontrolling interest |  | (2,835 | ) |  | — |  |  | — |  |  | — |  |  | (2,835 | )
Net income (loss) attributable to common shareholders |  | $ | 59,320 |  |  | $ | 59,954 |  |  | $ | 10,428 |  |  | $ | (136,849 | ) |  | $ | (7,147 | )
|  | As of June 30, 2019
|  | MOBs |  | Triple Net Leased Senior Living Communities |  | Managed Senior Living Communities |  | All Other Operations |  | Consolidated
Total assets |  | $ | 3,294,265 |  |  | $ | 1,968,936 |  |  | $ | 1,454,742 |  |  | $ | 380,767 |  |  | $ | 7,098,710 |
|  | For the Three Months Ended June 30, 2018
|  | MOBs |  | Triple Net Leased Senior Living Communities |  | Managed Senior Living Communities |  | All Other Operations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  | $ | 103,854 |  |  | $ | 66,113 |  |  | $ | — |  |  | $ | 4,618 |  |  | $ | 174,585 |
Residents fees and services |  | — |  |  | — |  |  | 102,617 |  |  | — |  |  | 102,617 |
Total revenues |  | 103,854 |  |  | 66,113 |  |  | 102,617 |  |  | 4,618 |  |  | 277,202 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property operating expenses |  | 31,183 |  |  | — |  |  | 78,873 |  |  | — |  |  | 110,056 |
Depreciation and amortization |  | 36,326 |  |  | 20,186 |  |  | 14,841 |  |  | 947 |  |  | 72,300 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 29,078 |  |  | 29,078 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | — |  |  | 67 |  |  | 67 |
Impairment of assets |  | — |  |  | 548 |  |  | — |  |  | — |  |  | 548 |
Total expenses |  | 67,509 |  |  | 20,734 |  |  | 93,714 |  |  | 30,092 |  |  | 212,049 |
Gain on sale of properties |  | — |  |  | 80,762 |  |  | — |  |  | — |  |  | 80,762 |
Dividend income |  | — |  |  | — |  |  | — |  |  | 659 |  |  | 659 |
Unrealized gains and losses on equity securities, net |  | — |  |  | — |  |  | — |  |  | 23,265 |  |  | 23,265 |
Interest and other income |  | — |  |  | — |  |  | — |  |  | 60 |  |  | 60 |
Interest expense |  | (6,113 | ) |  | (565 | ) |  | (1,256 | ) |  | (36,879 | ) |  | (44,813 | )
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee |  | 30,232 |  |  | 125,576 |  |  | 7,647 |  |  | (38,369 | ) |  | 125,086 |
Income tax expense |  | — |  |  | — |  |  | — |  |  | (105 | ) |  | (105 | )
Equity in earnings of an investee |  | — |  |  | — |  |  | — |  |  | 7 |  |  | 7 |
Net income (loss) |  | 30,232 |  |  | 125,576 |  |  | 7,647 |  |  | (38,467 | ) |  | 124,988 |
Net income attributable to noncontrolling interest |  | (1,401 | ) |  | — |  |  | — |  |  | — |  |  | (1,401 | )
Net income (loss) attributable to common shareholders |  | $ | 28,831 |  |  | $ | 125,576 |  |  | $ | 7,647 |  |  | $ | (38,467 | ) |  | $ | 123,587 |
|  | For the Six Months Ended June 30, 2018
|  | MOBs |  | Triple Net Leased Senior Living Communities |  | Managed Senior Living Communities |  | All Other Operations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  | $ | 205,005 |  |  | $ | 134,088 |  |  | $ | — |  |  | $ | 9,220 |  |  | $ | 348,313 |
Residents fees and services |  | — |  |  | — |  |  | 204,659 |  |  | — |  |  | 204,659 |
Total revenues |  | 205,005 |  |  | 134,088 |  |  | 204,659 |  |  | 9,220 |  |  | 552,972 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property operating expenses |  | 62,121 |  |  | — |  |  | 156,033 |  |  | — |  |  | 218,154 |
Depreciation and amortization |  | 70,711 |  |  | 40,381 |  |  | 29,652 |  |  | 1,895 |  |  | 142,639 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 54,196 |  |  | 54,196 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | — |  |  | 87 |  |  | 87 |
Impairment of assets |  | — |  |  | 548 |  |  | — |  |  | — |  |  | 548 |
Total expenses |  | 132,832 |  |  | 40,929 |  |  | 185,685 |  |  | 56,178 |  |  | 415,624 |
Gain on sale of properties |  | — |  |  | 261,916 |  |  | — |  |  | — |  |  | 261,916 |
Dividend income |  | — |  |  | — |  |  | — |  |  | 1,318 |  |  | 1,318 |
Unrealized gains and losses on equity securities, net |  | — |  |  | — |  |  | — |  |  | 50,506 |  |  | 50,506 |
Interest and other income |  | — |  |  | — |  |  | — |  |  | 114 |  |  | 114 |
Interest expense |  | (12,022 | ) |  | (1,136 | ) |  | (2,583 | ) |  | (72,624 | ) |  | (88,365 | )
Loss on early extinguishment of debt |  | — |  |  | — |  |  | (130 | ) |  | — |  |  | (130 | )
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee |  | 60,151 |  |  | 353,939 |  |  | 16,261 |  |  | (67,644 | ) |  | 362,707 |
Income tax expense |  | — |  |  | — |  |  | — |  |  | (365 | ) |  | (365 | )
Equity in earnings of an investee |  | — |  |  | — |  |  | — |  |  | 51 |  |  | 51 |
Net income (loss) |  | 60,151 |  |  | 353,939 |  |  | 16,261 |  |  | (67,958 | ) |  | 362,393 |
Net income attributable to noncontrolling interest |  | (2,784 | ) |  | — |  |  | — |  |  | — |  |  | (2,784 | )
Net income (loss) attributable to common shareholders |  | $ | 57,367 |  |  | $ | 353,939 |  |  | $ | 16,261 |  |  | $ | (67,958 | ) |  | $ | 359,609 |
| As of December 31, 2018
| MOBs |  | Triple Net Leased Senior Living Communities |  | Managed Senior Living Communities |  | All Other Operations |  | Consolidated
Total assets | $ | 3,344,581 |  |  | $ | 2,044,939 |  |  | $ | 1,395,657 |  |  | $ | 375,249 |  |  | $ | 7,160,426 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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