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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total residents fees and services $ 382,712 $ 371,392 $ 769,576 $ 742,168
Expenses:        
Property operating expenses 312,580 304,065 626,906 611,669
Depreciation and amortization 66,266 68,357 134,591 138,490
General and administrative 11,177 6,262 20,177 13,830
Acquisition and certain other transaction related costs 75 1,826 99 1,912
Impairment of assets 30,993 6,545 69,465 18,687
Total expenses 421,091 387,055 851,238 784,588
(Loss) gain on sale of properties (7,429) (13,213) 102,711 (19,087)
Gain on insurance recoveries 0 0 7,522 0
Interest and other income 2,982 2,403 5,081 4,640
Interest expense (including net amortization of debt discounts, premiums and issuance costs of $19,886, $25,591, $45,973 and $50,454, respectively) (50,926) (58,702) (108,757) (116,278)
Loss on modification or early extinguishment of debt (126) (209) (29,197) (209)
Loss before income taxes and equity in net earnings (losses) of investees (93,878) (85,384) (104,302) (173,354)
Income tax expense (843) (170) (892) (357)
Equity in net earnings of an investee     4,569 (10,409)
Net loss (91,639) (97,861) (100,625) (184,120)
Other comprehensive income (loss):        
Equity in unrealized gains (losses) of an investee 25 (22) 52 (26)
Unrealized loss on derivative (11) 0 (17) 0
Other comprehensive income (loss) 14 (22) 35 (26)
Comprehensive loss $ (91,625) $ (97,883) $ (100,590) $ (184,146)
Weighted average common shares outstanding (basic) (in shares) 240,132 239,326 240,045 239,259
Weighted average common shares outstanding (diluted) (in shares) 240,132 239,326 240,045 239,259
Per common share amounts (basic and diluted):        
Net loss - basic (in dollars per share) $ (0.38) $ (0.41) $ (0.42) $ (0.77)
Net loss - diluted (in dollars per share) $ (0.38) $ (0.41) $ (0.42) $ (0.77)
Affiliated Entity        
Expenses:        
Equity in net earnings of an investee $ 3,082 $ (12,307) $ 4,569 $ (10,409)
Rental income        
Revenues:        
Total residents fees and services 55,167 62,870 113,725 125,520
Residents fees and services        
Revenues:        
Total residents fees and services $ 327,545 $ 308,522 $ 655,851 $ 616,648