2024 Q3 Form 10-Q Financial Statement

#000162828024033154 Filed on July 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $700.4M $695.5M
YoY Change 25.92% 27.51%
Cost Of Revenue $280.3M $273.8M
YoY Change 20.43% 23.76%
Gross Profit $420.1M $421.7M
YoY Change 29.86% 30.08%
Gross Profit Margin 59.98% 60.63%
Selling, General & Admin $23.22M $26.72M
YoY Change 0.5% 3.02%
% of Gross Profit 5.53% 6.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $280.0M $283.5M
YoY Change 51.69% 43.49%
% of Gross Profit 66.65% 67.23%
Operating Expenses $303.2M $273.8M
YoY Change 30.29% 22.51%
Operating Profit $116.9M $147.9M
YoY Change 28.76% 46.87%
Interest Expense $74.11M $74.91M
YoY Change 46.71% -252.65%
% of Operating Profit 63.4% 50.67%
Other Income/Expense, Net $63.31M $126.0M
YoY Change 4174.61% 9141.06%
Pretax Income $98.51M $155.4M
YoY Change 46.28% 184.57%
Income Tax $1.938M $2.728M
% Of Pretax Income 1.97% 1.76%
Net Earnings $85.87M $146.0M
YoY Change 33.73% 182.22%
Net Earnings / Revenue 12.26% 21.0%
Basic Earnings Per Share $0.12 $0.21
Diluted Earnings Per Share $0.12 $0.21
COMMON SHARES
Basic Shares Outstanding 699.3M shares 703.8M shares
Diluted Shares Outstanding 700.1M shares 703.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.4M $106.9M
YoY Change 186.4% 2.99%
Cash & Equivalents $180.4M $106.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $64.98M $59.66M
Other Receivables $0.00 $0.00
Total Short-Term Assets $245.4M $166.5M
YoY Change 101.15% 5.91%
LONG-TERM ASSETS
Property, Plant & Equipment $16.32B $16.84B
YoY Change 22.21% 26.31%
Goodwill $65.16M $65.16M
YoY Change
Intangibles $898.4M $1.076B
YoY Change 164.86% 195.26%
Long-Term Investments $931.8M $927.2M
YoY Change 25.08% 26.67%
Other Assets $61.62M $52.41M
YoY Change 4.43% -19.4%
Total Long-Term Assets $19.72B $20.01B
YoY Change 27.41% 29.57%
TOTAL ASSETS
Total Short-Term Assets $245.4M $166.5M
Total Long-Term Assets $19.72B $20.01B
Total Assets $19.97B $20.18B
YoY Change 27.99% 29.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $749.9M $977.2M
YoY Change 178.77% 43.13%
Accrued Expenses $308.3M $509.9M
YoY Change -16.23% 149.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $27.49M $28.56M
YoY Change -68.04% -67.34%
Total Short-Term Liabilities $1.058B $1.516B
YoY Change 46.36% 70.83%
LONG-TERM LIABILITIES
Long-Term Debt $8.583B $8.574B
YoY Change 30.49% 30.54%
Other Long-Term Liabilities $1.106B $1.380B
YoY Change -12.76% 35.03%
Total Long-Term Liabilities $9.690B $9.954B
YoY Change 23.5% 31.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.058B $1.516B
Total Long-Term Liabilities $9.690B $9.954B
Total Liabilities $10.75B $10.76B
YoY Change 25.42% 18.66%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $699.4M $700.3M
YoY Change 27.85% 28.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.563B $8.757B
YoY Change
Total Liabilities & Shareholders Equity $19.97B $20.18B
YoY Change 27.99% 29.33%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $85.87M $146.0M
YoY Change 33.73% 182.22%
Depreciation, Depletion And Amortization $280.0M $283.5M
YoY Change 51.69% 43.49%
Cash From Operating Activities $318.2M $316.2M
YoY Change 25.62% 6.17%
INVESTING ACTIVITIES
Capital Expenditures $174.3M $122.5M
YoY Change -7.44% -37.12%
Acquisitions
YoY Change
Other Investing Activities $204.5M $310.0M
YoY Change -699.78% -147029.38%
Cash From Investing Activities $30.23M $187.5M
YoY Change -113.59% -196.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -265.7M -501.6M
YoY Change 243.26% 742.98%
NET CHANGE
Cash From Operating Activities 318.2M 316.2M
Cash From Investing Activities 30.23M 187.5M
Cash From Financing Activities -265.7M -501.6M
Net Change In Cash 82.75M 2.137M
YoY Change -277.96% -95.06%
FREE CASH FLOW
Cash From Operating Activities $318.2M $316.2M
Capital Expenditures $174.3M $122.5M
Free Cash Flow $143.9M $193.7M
YoY Change 121.4% 88.04%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
169023000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
126834000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
159295000 usd
us-gaap Nature Of Operations
NatureOfOperations
Business<div style="margin-bottom:6pt;margin-top:1pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Overview</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Healthpeak Properties, Inc., a Standard &amp; Poor’s 500 company, is a Maryland corporation that is organized to qualify as a real estate investment trust (“REIT”) and that, together with its consolidated entities (collectively, “Healthpeak” or the “Company”), owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery in the United States (“U.S.”). Healthpeak® has a diverse portfolio comprised of investments in the following reportable healthcare segments: (i) outpatient medical; (ii) lab; and (iii) continuing care retirement community (“CCRC”).</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s corporate headquarters are in Denver, Colorado, and it has additional corporate offices in California, Tennessee, Wisconsin, and Massachusetts, and property management offices in several locations throughout the U.S.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 10, 2023, the Company completed its corporate reorganization (the “Reorganization”) into an umbrella partnership REIT (“UPREIT”). Substantially all of the Company’s business is conducted through Healthpeak OP, LLC (“Healthpeak OP”). The Company is the managing member of Healthpeak OP and does not have material assets or liabilities, other than through its investment in Healthpeak OP. For additional information on the UPREIT Reorganization, see the Company’s Current Report on Form 8-K12B filed with the U.S. Securities and Exchange Commission (“SEC”) on February 10, 2023.</span></div>On March 1, 2024, the Company completed its planned merger with Physicians Realty Trust (see Note 3).
peak Commitments Development And Redevelopment Projects And Tenant Improvements Amount Increase Decrease
CommitmentsDevelopmentAndRedevelopmentProjectsAndTenantImprovementsAmountIncreaseDecrease
-10000000 usd
CY2024Q2 peak Commitments Development And Redevelopment Projects And Tenant Improvements
CommitmentsDevelopmentAndRedevelopmentProjectsAndTenantImprovements
169000000 usd
CY2024Q2 peak Properties Held For Sale Number
PropertiesHeldForSaleNumber
0 property
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
CY2024Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
404225000 usd
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
311663000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
747639000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
606179000 usd
CY2024Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
142556000 usd
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
98304000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
261175000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
196219000 usd
CY2023Q4 peak Initial Direct Costs Net
InitialDirectCostsNet
172000000 usd
CY2024Q2 peak Initial Direct Costs Net
InitialDirectCostsNet
172000000 usd
CY2024Q2 peak Straight Line Rent Receivable Net Of Allowances
StraightLineRentReceivableNetOfAllowances
319000000 usd
CY2023Q4 peak Straight Line Rent Receivable Net Of Allowances
StraightLineRentReceivableNetOfAllowances
310000000 usd
CY2023Q2 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
2000000 usd
CY2023Q2 us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
2000000 usd
CY2024Q2 peak Operating Lease Percentage Of Annual Lease Escalations
OperatingLeasePercentageOfAnnualLeaseEscalations
0.025
CY2023Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-131000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
2830000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
218450000 usd
CY2024Q2 peak Loans And Leases Receivable Remaining Commitments
LoansAndLeasesReceivableRemainingCommitments
69000000 usd
CY2024Q1 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
5000000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
2830000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
8280000 usd
us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
6313000 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
2088000 usd
us-gaap Financing Receivable Excluding Accrued Interest Sale And Reclassification To Held For Sale
FinancingReceivableExcludingAccruedInterestSaleAndReclassificationToHeldForSale
0 usd
CY2023 us-gaap Financing Receivable Excluding Accrued Interest Sale And Reclassification To Held For Sale
FinancingReceivableExcludingAccruedInterestSaleAndReclassificationToHeldForSale
7538000 usd
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
9143000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
2830000 usd
CY2024Q2 peak Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Unfunded Loan Commitments
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestUnfundedLoanCommitments
5300000 usd
CY2023Q4 peak Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Unfunded Loan Commitments
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestUnfundedLoanCommitments
700000 usd
CY2024Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
927204000 usd
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
782853000 usd
us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
78000000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1611677000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
739228000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
535590000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
425072000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1076087000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
314156000 usd
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y
CY2023 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y
CY2024Q2 peak Lease Up Intangible Assets Gross
LeaseUpIntangibleAssetsGross
1560000000 usd
CY2023Q4 peak Lease Up Intangible Assets Gross
LeaseUpIntangibleAssetsGross
725000000 usd
CY2024Q2 peak Above Market Lease Intangible Assets Gross
AboveMarketLeaseIntangibleAssetsGross
53000000 usd
CY2023Q4 peak Above Market Lease Intangible Assets Gross
AboveMarketLeaseIntangibleAssetsGross
14000000 usd
CY2024Q2 peak Lease Up Intangible Assets Accumulated Depreciation And Amortization
LeaseUpIntangibleAssetsAccumulatedDepreciationAndAmortization
525000000 usd
CY2023Q4 peak Lease Up Intangible Assets Accumulated Depreciation And Amortization
LeaseUpIntangibleAssetsAccumulatedDepreciationAndAmortization
418000000 usd
CY2024Q2 peak Above Market Lease Intangible Assets Accumulated Depreciation And Amortization
AboveMarketLeaseIntangibleAssetsAccumulatedDepreciationAndAmortization
11000000 usd
CY2023Q4 peak Above Market Lease Intangible Assets Accumulated Depreciation And Amortization
AboveMarketLeaseIntangibleAssetsAccumulatedDepreciationAndAmortization
7000000 usd
CY2024Q2 peak Finite Lived Intangible Liabilities Gross
FiniteLivedIntangibleLiabilitiesGross
374084000 usd
CY2023Q4 peak Finite Lived Intangible Liabilities Gross
FiniteLivedIntangibleLiabilitiesGross
228105000 usd
CY2024Q2 peak Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
146714000 usd
CY2023Q4 peak Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
100725000 usd
CY2024Q2 peak Finite Lived Intangible Liabilities Net
FiniteLivedIntangibleLiabilitiesNet
227370000 usd
CY2023Q4 peak Finite Lived Intangible Liabilities Net
FiniteLivedIntangibleLiabilitiesNet
127380000 usd
peak Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P9Y
CY2023 peak Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P7Y
CY2024Q1 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
891000000 usd
CY2024Q1 peak Finite Lived Intangible Liabilities Lease
FiniteLivedIntangibleLiabilitiesLease
852000000 usd
CY2024Q1 peak Above Market Lease Intangibles
AboveMarketLeaseIntangibles
39000000 usd
CY2024Q1 peak Finite Lived Intangible Liabilities Acquired
FiniteLivedIntangibleLiabilitiesAcquired
150000000 usd
CY2024Q1 peak Intangible Assets Weighted Average Amortization Useful Life
IntangibleAssetsWeightedAverageAmortizationUsefulLife
P6Y
CY2024Q1 peak Intangible Liabilities Weighted Average Amortization Useful Life
IntangibleLiabilitiesWeightedAverageAmortizationUsefulLife
P9Y
CY2024Q1 us-gaap Goodwill
Goodwill
47000000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
65163000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
18027000 usd
CY2024Q1 peak Debt Costs Capitalized
DebtCostsCapitalized
1000000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
28564000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
803684000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1019999000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1350842000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1252775000 usd
CY2024Q2 peak Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
4300000000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
8755864000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
152837000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
8603027000 usd
CY2024Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.60
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.60
CY2022Q3 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 usd
CY2024Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3600000 shares
CY2024Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
19.00
CY2024Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
68000000 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
9400000 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
17.83
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
168000000 usd
CY2023 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
276000000 usd
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
56000000 usd
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
168000000 usd
CY2024Q2 us-gaap Revenues
Revenues
695504000 usd
CY2024Q2 peak Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
7832000 usd
CY2024Q2 peak Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
32582000 usd
CY2024Q2 peak Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
9374000 usd
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
273827000 usd
CY2024Q2 peak Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
19782000 usd
CY2024Q2 peak Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
2618000 usd
CY2024Q2 peak Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-25232000 usd
CY2024Q2 peak Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
394657000 usd
CY2024Q2 peak Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
25232000 usd
CY2024Q2 us-gaap Interest Income Operating
InterestIncomeOperating
7832000 usd
CY2024Q2 us-gaap Interest Expense
InterestExpense
74910000 usd
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
283498000 usd
CY2024Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7759000 usd
CY2024Q2 peak Impairments And Allowance For Credit Loss Reserves
ImpairmentsAndAllowanceForCreditLossReserves
-553000 usd
CY2024Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
122044000 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4004000 usd
CY2024Q2 peak Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-12800000 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
152716000 usd
CY2023Q2 us-gaap Revenues
Revenues
545430000 usd
CY2023Q2 peak Government Grant Income From Cares Act
GovernmentGrantIncomeFromCARESAct
47000 usd
CY2023Q2 peak Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
5279000 usd
CY2023Q2 peak Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
22943000 usd
CY2023Q2 peak Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
8816000 usd
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
221837000 usd
CY2023Q2 peak Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
15754000 usd
CY2023Q2 peak Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
2444000 usd
CY2023Q2 peak Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-19688000 usd
CY2023Q2 peak Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
299490000 usd
CY2023Q2 peak Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
19688000 usd
CY2023Q2 us-gaap Interest Income Operating
InterestIncomeOperating
5279000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
49074000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
197573000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
25936000 usd
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
637000 usd
CY2023Q2 peak Impairments And Allowance For Credit Loss Reserves
ImpairmentsAndAllowanceForCreditLossReserves
2607000 usd
CY2023Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
4885000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1955000 usd
CY2023Q2 peak Interest Income Excluded From Adjusted Government Grant Income From Continuing Operations
InterestIncomeExcludedFromAdjustedGovernmentGrantIncomeFromContinuingOperations
-47000 usd
CY2023Q2 peak Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-7189000 usd
CY2023Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-6372000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
54606000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1136000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2729000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
56199000 usd
us-gaap Revenues
Revenues
1302064000 usd
peak Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
13583000 usd
peak Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
61715000 usd
peak Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
18413000 usd
us-gaap Operating Expenses
OperatingExpenses
517556000 usd
peak Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
38288000 usd
peak Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
5091000 usd
peak Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-52840000 usd
peak Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
728190000 usd
peak Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
52840000 usd
us-gaap Interest Income Operating
InterestIncomeOperating
13583000 usd
us-gaap Interest Expense
InterestExpense
135817000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
502717000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50017000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
114979000 usd
peak Impairments And Allowance For Credit Loss Reserves
ImpairmentsAndAllowanceForCreditLossReserves
10905000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
125299000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
82520000 usd
peak Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-23427000 usd
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-13322000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
177892000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16426000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2427000 usd
us-gaap Profit Loss
ProfitLoss
163893000 usd
us-gaap Revenues
Revenues
1071108000 usd
peak Government Grant Income From Cares Act
GovernmentGrantIncomeFromCARESAct
184000 usd
peak Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
11442000 usd
peak Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
46198000 usd
peak Real Estate Revenues From Joint Venture Government Grant Income
RealEstateRevenuesFromJointVentureGovernmentGrantIncome
229000 usd
peak Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
17922000 usd
us-gaap Operating Expenses
OperatingExpenses
444925000 usd
peak Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
32249000 usd
peak Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
5079000 usd
peak Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-24310000 usd
peak Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
591950000 usd
peak Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
24310000 usd
us-gaap Interest Income Operating
InterestIncomeOperating
11442000 usd
us-gaap Interest Expense
InterestExpense
97037000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
376798000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50483000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3062000 usd
peak Impairments And Allowance For Credit Loss Reserves
ImpairmentsAndAllowanceForCreditLossReserves
394000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
86463000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2727000 usd
peak Interest Income Excluded From Adjusted Government Grant Income From Continuing Operations
InterestIncomeExcludedFromAdjustedGovernmentGrantIncomeFromContinuingOperations
-184000 usd
peak Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-14178000 usd
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-12843000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
187599000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1438000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4545000 usd
us-gaap Profit Loss
ProfitLoss
190706000 usd
us-gaap Interest Paid Net
InterestPaidNet
120887000 usd
us-gaap Interest Paid Net
InterestPaidNet
90911000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4794000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2855000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
31908000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
28182000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
15312000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
121000 usd
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
120437000 usd
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
142826000 usd
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 usd
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
993000 usd
peak Noncash Or Part Noncash Retained Investments In Connection With Joint Ventures
NoncashOrPartNoncashRetainedInvestmentsInConnectionWithJointVentures
69255000 usd
peak Noncash Or Part Noncash Retained Investments In Connection With Joint Ventures
NoncashOrPartNoncashRetainedInvestmentsInConnectionWithJointVentures
0 usd
peak Non Cash Assets And Liabilities Assumed In Connection With The Mergers
NonCashAssetsAndLiabilitiesAssumedInConnectionWithTheMergers
2927611000 usd
peak Non Cash Assets And Liabilities Assumed In Connection With The Mergers
NonCashAssetsAndLiabilitiesAssumedInConnectionWithTheMergers
0 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
117635000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72032000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
51388000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
54802000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
169023000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
126834000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
106886000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103780000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
52409000 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
56745000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
159295000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
160525000 usd
us-gaap Asset At Fair Value Changes In Fair Value Resulting From Changes In Assumptions
AssetAtFairValueChangesInFairValueResultingFromChangesInAssumptions
60000000 usd
CY2024Q2 us-gaap Number Of Interest Rate Derivatives Held
NumberOfInterestRateDerivativesHeld
1 derivative_held
CY2024Q2 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
180000000 usd
CY2024Q2 peak Refundable Entrance Fees Current And Noncurrent
RefundableEntranceFeesCurrentAndNoncurrent
244759000 usd
CY2023Q4 peak Refundable Entrance Fees Current And Noncurrent
RefundableEntranceFeesCurrentAndNoncurrent
251874000 usd
CY2024Q2 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
120437000 usd
CY2023Q4 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
105572000 usd
CY2024Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
76034000 usd
CY2023Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
59492000 usd
CY2024Q2 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
267989000 usd
CY2023Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
240258000 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
709219000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
657196000 usd
us-gaap Severance Costs1
SeveranceCosts1
6000000 usd
CY2023 us-gaap Severance Costs1
SeveranceCosts1
8000000 usd
CY2024Q2 peak Nonrefundable Entrance Fees
NonrefundableEntranceFees
581530000 usd
CY2023Q4 peak Nonrefundable Entrance Fees
NonrefundableEntranceFees
562026000 usd
CY2024Q2 peak Other Deferred Revenue
OtherDeferredRevenue
326322000 usd
CY2023Q4 peak Other Deferred Revenue
OtherDeferredRevenue
343607000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
907852000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
905633000 usd
CY2024Q2 peak Proceeds From Collection Of Nonrefundable Entrance Fees
ProceedsFromCollectionOfNonrefundableEntranceFees
34000000 usd
peak Proceeds From Collection Of Nonrefundable Entrance Fees
ProceedsFromCollectionOfNonrefundableEntranceFees
62000000 usd
CY2024Q2 peak Amortization Of Nonrefundable Entrance Fee
AmortizationOfNonrefundableEntranceFee
21000000 usd
peak Amortization Of Nonrefundable Entrance Fee
AmortizationOfNonrefundableEntranceFee
43000000 usd
CY2023Q2 peak Proceeds From Collection Of Nonrefundable Entrance Fees
ProceedsFromCollectionOfNonrefundableEntranceFees
31000000 usd
peak Proceeds From Collection Of Nonrefundable Entrance Fees
ProceedsFromCollectionOfNonrefundableEntranceFees
60000000 usd
CY2023Q2 peak Amortization Of Nonrefundable Entrance Fee
AmortizationOfNonrefundableEntranceFee
20000000 usd
peak Amortization Of Nonrefundable Entrance Fee
AmortizationOfNonrefundableEntranceFee
40000000 usd
CY2024Q2 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
13000000 usd
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
27000000 usd
CY2023Q2 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
18000000 usd
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
31000000 usd
CY2024Q2 peak Number Of Redeemable Noncontrolling Interest With Redemption Conditions
NumberOfRedeemableNoncontrollingInterestWithRedemptionConditions
4 property
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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