Ventas, Inc. VTR Income Statement

Ventas, inc. (VTR)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Revenues
Rental income
403,257	401,488	408,322	398,570	401,496	384,708	384,028	360,262	384,809	397,002	401,876	399,498	395,222	394,650	368,697	354,206	358,623	354,168	343,783	322,478	325,617	140,213	287,559	357,616	353,069	56,481	333,477	323,448	322,950	311,334	308,186	293,671	267,540	251,716	261,368	139,908	140,810	124,468	140,723	129,626	128,522	116,639	124,809	124,612	122,398	121,172	119,441
Income from loans and investments
24,046	22,382	30,164	19,529	17,126	18,512	18,108	56,417	31,181	32,109	32,985	32,368	20,146	19,996	31,566	24,146	22,386	20,361	18,924	25,215	22,053	13,200	13,186	14,625	10,767	9,141	14,448	14,733	16,103	14,690	9,035	8,152	8,036	9,867	10,072	8,391	6,085	5,076	4,014	3,705	3,617	3,279	3,214	3,333	3,281	3,426	1,480
Interest and other income
4,853	875	620	9,202	287	357	12,554	2,347	9,634	5,180	171	202	481	84	562	111	119	333	74	174	471	3,450	367	173	273	121	66	797	1,038	664	330	65	47	687	373	78	78	64	35	122	263	349	99	108	286	1,913	798
Medical office buildings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,817	-	-	-	-	-	-	-	-
Total revenues
1,012,054	996,004	983,155	950,717	942,874	923,263	936,538	942,304	943,705	895,288	899,928	895,490	883,443	875,713	867,116	848,404	852,289	841,274	827,606	811,920	805,598	579,157	704,932	751,254	741,470	438,350	711,249	684,109	682,909	652,572	638,655	611,964	566,424	548,388	555,378	359,506	268,432	251,761	264,665	243,320	240,888	228,472	234,637	231,452	228,904	235,121	229,031
Expenses
Interest
116,696	116,707	113,967	110,369	110,619	110,524	107,581	113,029	111,363	111,951	113,869	113,572	108,804	107,739	105,063	103,665	103,273	103,692	97,135	83,959	82,328	35,398	77,325	91,501	87,841	4,374	83,764	82,237	78,634	73,783	74,037	72,767	68,130	60,503	69,518	52,043	41,740	39,025	45,519	43,840	44,090	40,595	43,291	43,994	45,930	50,745	51,389
Depreciation and amortization
248,837	348,910	234,603	226,187	235,920	244,276	218,579	223,634	233,150	232,650	213,407	224,108	217,783	232,189	208,387	221,961	236,387	236,795	226,332	214,711	216,219	167,798	173,006	190,818	193,594	105,875	177,038	171,527	175,468	178,639	188,540	187,367	160,421	156,777	156,593	79,509	51,314	46,224	52,104	50,040	52,314	49,173	49,984	48,643	49,498	49,997	56,642
Property-level operating expenses:
Medical office buildings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36,144	29,621	20,703	-	20,071	8,278	8,676	7,855	7,941	4,124	4,202	-	3,207	-	-	-	-
Property-level operating expenses
480,968	480,310	461,493	435,901	430,504	427,165	428,389	421,413	412,913	372,048	376,207	365,830	368,987	365,468	361,117	351,955	356,222	352,334	347,845	342,662	340,799	312,453	306,536	288,759	287,640	288,354	284,882	269,488	267,201	261,483	252,450	236,652	215,837	206,696	207,427	144,172	86,787	79,884	82,007	75,183	78,879	78,443	76,338	72,564	75,468	81,698	71,842
Office building services costs
727	544	627	515	633	338	431	534	115	1,683	418	552	738	1,034	974	1,852	3,451	7,467	6,416	5,764	6,918	7,527	4,568	1,626	3,371	3,358	1,651	1,667	1,639	1,569	1,487	3,839	2,988	7,245	6,347	7,954	5,536	-	4,633	-	-	-	-	-	-	-	-
General, administrative and professional fees
42,535	41,627	40,530	43,079	40,760	38,475	39,677	36,656	37,174	34,930	33,317	33,282	33,961	31,488	31,567	32,094	31,726	27,636	32,114	33,959	34,326	28,102	29,464	31,306	32,866	30,326	28,659	27,324	28,774	23,022	26,867	26,423	22,198	23,527	20,624	15,554	14,832	14,011	15,278	9,858	10,683	8,220	9,657	10,355	10,598	11,626	9,610
Foreign currency loss (gain)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	106	-	-32	-5	6	45	27
Loss on extinguishment of debt, net
0	-39	-37,434	-4,022	-405	-7,843	-39,527	93	-10,977	102	-511	-36	-309	386	-383	-2,468	-314	486	-15,331	455	-21	-485	-2,414	-2,924	259	-2,110	189	720	0	699	1,194	-9,989	-29,544	-2,393	-8,685	-6	-16,520	-	-	-6,549	-	0	0	-5,975	-105	-344	-195
Litigation proceeds, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85,327	-	-	-	-	-	-	-	-	-	-	-	-
Merger-related expenses and deal costs
8,218	4,151	4,304	4,600	2,180	4,259	4,458	4,494	17,336	1,632	804	6,043	2,056	-438	16,217	7,224	1,632	-2,079	62,145	12,265	30,613	6,757	16,188	9,599	10,760	4,497	6,208	6,667	4,262	13,617	4,917	36,668	7,981	22,317	69,350	55,807	6,449	7,575	5,142	4,207	2,319	1,565	5,894	3,502	2,054	1,248	1,234
Other
-3,708	31,277	-2,164	-11,481	-23	-72,171	-1,244	3,527	3,120	-36,118	13,030	1,848	1,188	1,087	2,430	2,303	4,168	4,009	4,795	4,279	4,874	6,238	9,413	4,863	5,229	4,039	4,353	4,385	4,587	1,888	1,966	1,510	1,576	1,443	13,882	-8,056	1	-	-419	121	-	-	-	-	-	-	-
Total expenses
901,689	983,973	895,122	813,192	821,044	891,757	839,886	803,194	826,148	758,778	751,563	745,271	733,826	738,181	726,138	723,522	737,173	729,368	792,113	697,144	716,098	564,758	618,914	621,396	621,042	442,933	586,366	562,575	560,565	553,302	549,070	575,215	508,675	363,969	467,099	346,989	223,179	195,522	204,264	189,798	188,179	178,015	185,196	185,038	183,647	195,613	190,885
Income before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests
110,365	12,031	88,033	137,525	121,830	31,506	96,652	139,110	117,557	136,510	148,365	150,219	149,617	137,532	140,978	124,882	115,116	111,906	35,493	114,776	89,500	14,399	86,018	129,858	120,428	-4,583	124,883	121,534	122,344	99,270	89,585	36,749	57,749	184,419	88,279	12,517	45,253	56,239	60,401	53,522	52,709	50,457	49,441	46,414	45,257	39,508	38,146
Income Loss from Equity Method Investments and Remeasurement Gain on Equity Interest in Acquiree
-10,876	167	854	-2,529	-946	-7,208	-716	-6,371	-40,739	-4,355	750	-106	3,150	2,207	931	1,418	-198	-223	-955	9	-251	-688	-47	348	248	-1,041	110	-506	929	249	17,074	514	317	19	182	-83	-170	-	-392	-	0	-	-	-	-	-	-
Gain on real estate dispositions
226,225	1,389	36	19,150	5,447	10,354	18	35,827	48	214,985	458,280	719	43,289	66,424	-144	5,739	26,184	4,160	265	7,469	6,686	1,456	3,625	11,889	1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reversal of contingent liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,328	-
Income tax benefit
-149,016	694	2,005	-57,752	-1,257	-28,650	-7,327	-734	-3,242	-46,680	-7,815	-2,159	-3,145	-2,836	-8,537	-11,549	-8,421	-11,537	-10,697	-9,800	-7,250	-13,552	-1,887	3,274	3,433	1,272	-2,780	-12,064	1,744	-3,555	-8,886	-5,179	11,338	-7,621	-13,732	-6,110	-3,197	2,849	1,657	409	286	-367	-410	-395	-547	-415	-3,712
Income from continuing operations
474,730	12,893	86,918	211,898	127,588	63,302	103,281	169,300	80,108	896,108	156,930	152,272	155,912	240,778	150,446	137,849	123,339	123,231	45,235	124,574	96,499	27,263	87,858	126,932	117,243	-6,896	127,773	133,092	121,529	103,074	115,545	42,442	46,728	192,059	102,193	18,544	48,280	53,118	58,352	53,113	52,423	50,824	49,851	46,809	45,804	63,251	41,858
Discontinued operations
-	-	0	0	-	0	0	0	-10	-15	-19	-23	-53	-167	-118	-148	-489	-2,331	-22,383	18,243	17,574	78,788	18,171	-255	3,031	115,335	-9,174	-18,559	-8,431	-16,948	-3,724	31,294	43,364	438	-209	1,190	766	25,584	542	5,852	745	3,954	579	42,374	29,165	1,555	28,840
Net income
474,730	12,893	86,918	211,898	127,588	63,302	103,281	169,300	80,098	393,805	615,191	152,968	199,148	208,832	150,184	143,440	149,034	125,060	23,117	150,286	120,759	107,507	109,654	138,566	121,274	108,439	118,599	114,533	113,098	86,126	111,821	73,736	90,092	192,497	101,984	19,734	49,046	78,702	58,894	58,965	53,168	54,778	50,430	89,183	74,969	64,806	70,698
Net income attributable to noncontrolling interests
1,613	1,450	1,659	1,369	1,803	1,029	1,309	2,781	1,395	1,251	1,233	1,137	1,021	1,195	732	278	54	-	265	465	317	317	522	168	227	-1	303	-47	905	-141	-61	-289	-534	-451	-901	58	62	1,119	996	898	549	697	625	802	741	1,040	545
Net income attributable to common stockholders
473,117	11,443	85,259	210,529	125,785	62,273	101,972	166,519	78,703	392,554	613,958	151,831	198,127	207,637	149,452	143,162	148,980	124,728	22,852	149,821	120,442	107,190	109,132	138,398	121,047	108,440	118,296	114,580	112,193	86,267	111,882	74,025	90,626	192,948	102,885	19,676	48,984	77,583	57,898	58,067	52,619	54,081	49,805	88,381	74,228	63,766	70,153
Earnings Per Share [Abstract]
Basic:
Income from continuing operations (in usd per share)
1.27	0.02	0.23	0.59	0.36	0.18	0.29	0.48	0.22	2.52	0.44	0.43	0.44	0.68	0.43	0.41	0.37	0.33	0.14	0.39	0.32	0.10	0.31	0.47	0.40	-0.01	0.43	0.45	0.41	0.36	0.39	0.15	0.16	0.83	0.36	0.10	0.30	0.32	0.37	0.33	0.34	0.31	0.32	0.30	0.32	0.44	0.30
Discontinued operations (USD per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.07	0.06	0.05	0.27	0.06	0.00	0.01	0.39	-0.03	-0.06	-0.03	-0.07	-0.01	0.11	0.15	-0.01	0.00	0.01	0.01	0.17	0.00	0.04	0.00	0.03	0.00	0.27	0.20	0.01	0.21
Net income attributable to common stockholders (in usd per share)
1.27	0.02	0.23	0.58	0.35	0.17	0.29	0.47	0.22	1.11	1.72	0.43	0.56	0.59	0.43	0.42	0.44	0.37	0.07	0.45	0.37	0.37	0.37	0.47	0.41	0.38	0.40	0.39	0.38	0.29	0.38	0.26	0.31	0.82	0.36	0.11	0.31	0.49	0.37	0.37	0.34	0.34	0.32	0.57	0.52	0.45	0.51
Diluted:
Income from continuing operations (in usd per share)
1.26	0.03	0.23	0.58	0.35	0.18	0.29	0.47	0.22	2.50	0.44	0.42	0.44	0.69	0.42	0.40	0.36	0.31	0.14	0.40	0.32	0.08	0.31	0.47	0.40	-0.02	0.43	0.45	0.41	0.36	0.39	0.14	0.16	0.82	0.35	0.10	0.30	0.31	0.37	0.33	0.34	0.30	0.32	0.30	0.32	0.44	0.30
Discontinued operations (USD per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.07	0.05	0.05	0.27	0.06	0.00	0.01	0.39	-0.03	-0.06	-0.03	-0.07	-0.01	0.11	0.15	0.00	0.00	0.01	0.00	0.17	0.00	0.04	0.00	0.03	0.00	0.27	0.20	0.01	0.21
Net income attributable to common stockholders (in usd per share)
1.26	0.01	0.23	0.58	0.35	0.18	0.28	0.46	0.22	1.10	1.71	0.42	0.55	0.58	0.42	0.42	0.44	0.36	0.07	0.45	0.37	0.35	0.37	0.47	0.41	0.37	0.40	0.39	0.38	0.29	0.38	0.25	0.31	0.82	0.35	0.11	0.30	0.48	0.37	0.37	0.34	0.33	0.32	0.57	0.52	0.45	0.51
Weighted Average Number of Shares Outstanding, Basic
-	-	-	-	-	-	-	-	-	-	355,929	355,024	354,410	354,078	350,274	338,901	335,559	332,584	332,491	330,715	325,454	294,807	294,030	293,988	293,875	293,708	292,818	292,635	291,455	294,783	294,928	290,170	288,375	289,765	287,365	176,262	160,420	156,737	156,631	156,611	156,453	156,482	156,250	154,441	143,091	140,759	138,133
Weighted Average Number of Shares Outstanding, Diluted
-	-	-	-	-	-	-	-	-	-	359,333	358,311	357,572	357,601	354,186	342,571	339,202	336,461	336,338	334,026	329,203	297,464	296,495	296,504	296,245	296,203	295,190	295,123	293,924	297,140	297,407	292,592	290,813	292,398	290,794	177,945	162,023	158,279	157,941	157,441	156,967	156,861	156,516	154,510	143,145	141,141	138,737
Dividends declared per common share
-	-	-	-	-	-	-	-	-	-	0.77	0.77	0.77	-	0.73	0.73	0.73	-	0.73	0.79	0.79	-	0.72	0.72	0.72	-	0.67	0.67	0.67	-	0.62	0.62	0.62	-	0.44	0.70	0.57	-	0.53	0.53	0.53	-	0.51	0.51	0.51	0.51	0.51
Triple-Net Leased Properties
Rental income
194,862	191,065	193,383	196,382	200,068	189,168	190,117	167,870	190,641	205,176	212,370	213,258	209,327	210,804	210,424	210,119	214,487	208,210	201,028	182,006	188,557	23,102	170,873	242,726	237,846	-58,387	218,698	213,171	212,534	204,374	207,372	204,561	203,575	191,790	203,209	116,150	116,574	101,967	117,906	117,386	116,333	-	115,752	-	-	-	-
Property-level operating expenses
6,331	6,469	6,338	6,321	7,433	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Office Operations
Rental income
208,395	210,423	214,939	202,188	201,428	195,540	193,911	192,392	194,168	191,826	189,506	186,240	185,895	183,846	158,273	144,087	144,136	145,958	142,755	140,472	137,060	117,111	116,686	114,890	115,223	114,868	114,779	110,277	110,416	106,960	100,814	89,110	63,965	59,926	58,159	23,758	24,236	-	-	12,240	12,189	-	9,057	-	-	-	-
Property-level operating expenses
64,506	68,277	67,144	62,743	62,085	61,017	61,668	60,301	60,693	58,279	60,609	57,205	56,914	55,165	48,972	43,966	43,681	45,073	43,305	43,410	42,437	38,890	41,262	39,335	39,345	38,231	40,566	38,151	36,293	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Resident Fees and Services
Other revenues
576,770	568,271	541,090	520,725	521,447	517,175	518,560	518,989	514,753	457,101	461,700	460,243	464,188	456,919	461,974	464,437	463,976	454,871	454,825	454,645	446,914	411,170	396,247	374,473	371,061	366,129	359,112	341,594	339,170	321,934	316,560	303,437	285,193	275,697	274,294	201,307	114,502	114,766	113,182	109,867	108,486	108,205	106,515	103,399	102,939	108,610	107,312
Office Building and Other Services Revenue
Other revenues
3,128	2,988	2,959	2,691	2,518	2,511	3,288	4,289	3,328	3,896	3,196	3,179	3,406	4,064	4,317	5,504	7,185	11,541	10,000	9,408	10,543	11,124	7,573	4,367	6,300	6,478	4,146	3,537	3,648	3,950	4,544	6,639	5,608	10,421	9,271	9,822	6,957	-	6,711	-	-	-	-	-	-	-	-
Senior Living Operations
Property-level operating expenses
410,131	405,564	388,011	366,837	360,986	366,148	366,721	361,112	352,220	313,769	315,598	308,625	312,073	310,303	312,145	307,989	312,541	307,261	304,540	299,252	298,362	273,563	265,274	249,424	248,295	250,123	244,316	231,337	230,908	222,551	216,306	207,031	195,134	186,734	187,356	135,894	78,111	72,029	74,066	71,059	74,677	-	73,131	-	-	-	-