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Segment Reporting | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Segment Reporting | Segment ReportingWe operate in, and report financial information for, the following two segments: Office Portfolio and SHOP. We aggregate each of these two reporting segments based on their similar operating and economic characteristics. Our Office Portfolio segment consists of medical office properties leased to medical providers and other medical related businesses, as well as life science properties leased to biotech laboratories and other similar tenants. Our SHOP segment consists of managed senior living communities that provide short term and long term residential living and, in some instances, care and other services for residents where we pay fees to managers to operate the communities.We also report “non-segment” operations, which consists of triple net leased senior living communities that are leased to third party operators from which we receive rents and wellness centers, which we do not consider to be sufficiently material to constitute a separate reporting segment, and any other income or expenses that are not attributable to a specific reporting segment.
|  | For the Three Months Ended March 31, 2023
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 57,022 |  |  | $ | — |  |  | $ | 9,416 |  |  | $ | 66,438 |
Residents fees and services |  | — |  |  | 279,592 |  |  | — |  |  | 279,592 |
Total revenues |  | 57,022 |  |  | 279,592 |  |  | 9,416 |  |  | 346,030 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 23,515 |  |  | 262,329 |  |  | 236 |  |  | 286,080 |
Depreciation and amortization |  | 20,035 |  |  | 42,152 |  |  | 2,613 |  |  | 64,800 |
General and administrative |  | — |  |  | — |  |  | 5,873 |  |  | 5,873 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 93 |  |  | 93 |
Impairment of assets |  | 2,308 |  |  | 3,617 |  |  | — |  |  | 5,925 |
Total expenses |  | 45,858 |  |  | 308,098 |  |  | 8,815 |  |  | 362,771 |
Gain on sale of properties |  | — |  |  | 1,233 |  |  | — |  |  | 1,233 |
Gains on equity securities, net |  | — |  |  | — |  |  | 8,126 |  |  | 8,126 |
Interest and other income |  | — |  |  | — |  |  | 4,195 |  |  | 4,195 |
Interest expense |  | (109) |  |  | (271) |  |  | (47,400) |  |  | (47,780) |
Loss on modification or early extinguishment of debt |  | — |  |  | — |  |  | (1,075) |  |  | (1,075) |
Income (loss) before income tax benefit and equity in net losses of investees |  | 11,055 |  |  | (27,544) |  |  | (35,553) |  |  | (52,042) |
Income tax benefit |  | — |  |  | — |  |  | 31 |  |  | 31 |
Equity in net losses of investees |  | (647) |  |  | — |  |  | — |  |  | (647) |
Net income (loss) |  | $ | 10,408 |  |  | $ | (27,544) |  |  | $ | (35,522) |  |  | $ | (52,658) |
|  | As of March 31, 2023
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Total assets |  | $ | 1,954,075 |  |  | $ | 3,153,704 |  |  | $ | 558,951 |  |  | $ | 5,666,730 |
|  | For the Three Months Ended March 31, 2022
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 54,997 |  |  | $ | — |  |  | $ | 10,288 |  |  | $ | 65,285 |
Residents fees and services |  | — |  |  | 245,448 |  |  | — |  |  | 245,448 |
Total revenues |  | 54,997 |  |  | 245,448 |  |  | 10,288 |  |  | 310,733 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 23,447 |  |  | 245,295 |  |  | — |  |  | 268,742 |
Depreciation and amortization |  | 18,390 |  |  | 35,983 |  |  | 2,886 |  |  | 57,259 |
General and administrative |  | — |  |  | — |  |  | 7,285 |  |  | 7,285 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 928 |  |  | 928 |
Total expenses |  | 41,837 |  |  | 281,278 |  |  | 11,099 |  |  | 334,214 |
Gain on sale of properties |  | 327,542 |  |  | 252 |  |  | — |  |  | 327,794 |
Losses on equity securities, net |  | — |  |  | — |  |  | (8,553) |  |  | (8,553) |
Interest and other income |  | — |  |  | 199 |  |  | 196 |  |  | 395 |
Interest expense |  | (365) |  |  | (494) |  |  | (56,272) |  |  | (57,131) |
Loss on modification or early extinguishment of debt |  | — |  |  | — |  |  | (483) |  |  | (483) |
Income (loss) before income tax expense and equity in net earnings of investees |  | 340,337 |  |  | (35,873) |  |  | (65,923) |  |  | 238,541 |
Income tax expense |  | — |  |  | — |  |  | (1,472) |  |  | (1,472) |
Equity in net earnings of investees |  | 3,354 |  |  | — |  |  | — |  |  | 3,354 |
Net income (loss) |  | $ | 343,691 |  |  | $ | (35,873) |  |  | $ | (67,395) |  |  | $ | 240,423 |
| As of December 31, 2022
| Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Total assets | $ | 1,967,244 |  |  | $ | 3,147,785 |  |  | $ | 887,064 |  |  | $ | 6,002,093 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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