WELLTOWER INC. WELL Income Statement

Welltower inc. (WELL)

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	Sep'09	Jun'09
Revenues:
Revenue from contract with customer
1,258,602	1,262,822	1,266,133	1,320,106	1,272,245	1,241,243	1,236,379	1,125,912	1,096,965	1,104,258	1,091,483	1,058,602	1,062,298	1,078,320	1,079,133	1,076,657	1,047,050	1,029,483	978,997	957,169	894,177	867,770	847,523	826,446	801,807	788,640	783,711	678,533	629,724	486,496	461,833	438,719	417,996	291,860	384,786	381,059	255,477	101,302	168,943	153,749	145,377	140,144	139,039
Operating Lease, Lease Income
389,960	409,583	412,147	385,586	381,084	360,565	342,887	333,601	343,369	360,251	362,880	355,599	367,141	389,372	421,152	422,628	415,663	413,445	409,290	396,626	379,587	367,317	354,148	347,847	336,455	327,561	308,512	298,873	292,643	271,596	277,919	263,704	249,995	145,377	249,994	239,703	169,658	48,244	144,924	141,764	135,333	128,527	127,644
Expenses:
Property operating expenses
681,781	662,520	655,588	701,127	670,807	650,644	657,157	568,751	556,465	547,904	523,997	501,855	510,169	494,835	473,680	458,832	449,636	438,739	408,703	398,354	376,461	363,016	355,157	343,754	341,431	334,111	341,921	277,958	252,823	158,932	144,417	135,839	128,801	106,527	103,855	100,197	64,485	32,968	20,327	11,970	12,513	12,153	11,240
Depreciation and amortization
274,801	262,644	272,445	248,052	243,932	242,834	243,149	236,275	228,201	238,459	230,138	224,847	228,276	227,916	218,061	226,569	228,696	222,810	205,799	208,802	188,829	195,393	200,970	214,449	233,318	242,023	241,027	198,062	184,688	129,870	127,844	127,599	120,907	86,980	115,640	110,382	73,476	27,890	48,963	44,037	40,652	39,187	38,115
Interest expense
142,007	131,648	137,343	141,336	145,232	144,369	138,032	121,416	122,775	127,216	122,578	116,231	118,597	126,360	129,699	132,326	132,960	131,098	121,130	118,861	121,080	120,706	118,435	121,065	120,833	124,037	116,020	109,465	108,838	89,537	91,915	91,299	88,814	60,328	87,795	83,961	58,897	23,950	42,935	35,478	28,425	27,595	26,107
General and administrative expenses
35,481	26,507	31,019	33,741	35,282	31,101	28,746	32,831	33,705	28,362	29,913	32,632	31,101	32,808	36,828	39,914	45,691	36,854	36,950	38,474	35,138	27,615	30,803	51,660	32,865	28,519	28,718	23,902	27,179	20,041	23,679	25,870	27,751	20,190	19,735	19,562	17,714	14,299	11,628	11,878	16,821	10,363	11,062
Transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	9,703	19,842	5,157	8,208	40,548	9,333	12,491	48,554	47,992	13,554	7,040	952	15,694	23,591	28,136	65,980	19,075	8,264	28,691	5,579	13,682	6,739	13,738	36,065	16,959	21,235	752	7,714	0	0
Loss (gain) on derivatives and financial instruments, net
-7,651	5,069	-1,244	-1,913	2,487	-1,626	-8,991	7,460	7,173	0	-324	-736	-1,224	-68	2,516	0	0	0	0	0	58,427	-	-49	-351	-	-8,935	4,872	-2,716	2,309	-113	409	-2,676	555	-	-	-	-	-	-	-	-	-	-
Loss (gain) on extinguishment of debt, net
0	-2,612	-65,824	0	-15,719	-53	-4,038	-299	-11,707	-370	0	-5,515	-31,356	-17,205	0	-33	24	195	-584	-18,887	-15,401	-6,483	-2,692	-531	148	5,285	-4,068	0	-308	1,566	-215	-576	0	-	-	-	-	1	-9,099	-7,035	-18,038	-26,374	0
Provision for loan losses
7,072	0	0	0	18,690	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	27,008	0	0	1,462	132	168	248	-	28,918	-	-	0	0
Asset Impairment Charges
27,827	98	18,096	9,939	0	76,022	6,740	4,632	28,185	99,821	0	13,631	11,031	13,188	9,705	0	14,314	0	0	0	2,220	-	0	0	-	-	-	-	-	-	-6,952	-	0	11,992	0	0	202	-	947	-	-	1,873	-
Other expenses
6,292	16,042	6,186	21,628	8,756	10,502	88,626	10,058	3,712	60,167	99,595	6,339	11,675	8,837	0	3,161	0	-	0	10,583	-	-	10,262	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
1,182,912	1,097,002	1,187,745	1,157,736	1,135,931	1,157,151	1,175,479	966,802	977,577	1,165,265	1,006,545	901,786	943,429	941,135	885,299	865,992	879,481	905,502	782,499	806,452	729,256	759,310	731,922	738,850	729,251	749,966	752,081	634,807	641,509	415,776	423,751	407,198	372,407	288,190	333,896	328,008	250,885	116,831	183,105	111,150	124,163	115,672	86,524
Income (loss) from continuing operations before income taxes and other items
75,690	165,820	78,388	162,370	136,314	84,092	60,900	159,110	119,388	-61,007	84,938	156,816	118,869	137,185	193,834	210,665	167,569	123,981	196,498	150,717	164,921	108,460	115,601	87,596	72,556	38,674	31,630	43,726	-11,785	70,720	38,082	31,521	45,589	3,670	50,890	53,051	4,592	-15,529	-14,162	42,599	21,214	24,472	52,515
Income tax (expense) benefit
5,442	-4,832	3,968	1,599	2,222	1,504	1,741	3,841	1,588	25,662	669	-8,448	2,245	-16,585	-305	-513	-1,725	2,682	-3,344	7,417	-304	-7,636	10,198	-1,569	-2,260	14,546	-3,077	-1,215	-2,763	3,859	836	1,447	1,470	-1,951	223	211	129	40	52	188	84	-55	21
Income (Loss) from Equity Method Investments
-3,692	57,420	3,262	-9,049	-9,199	195	344	1,249	-2,429	-59,449	3,408	-3,978	-23,106	-2,829	-1,749	-1,959	-3,820	-3,273	-2,631	-2,952	-12,648	-7,722	-2,632	-11,516	-5,556	-4,657	-331	-5,461	2,262	233	-739	1,456	1,532	1,616	1,642	971	1,543	2,178	1,899	1,828	768	0	0
Discontinued operations:
Gain (loss) on sales of properties, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,411	-	-8,064	4,707	-29,997	82,492	54,503	12,827	32,450	769	4,595	185	30,224	26,156	15,557	10,526	3,314	6,718	-806	10,677
Income (loss) from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	264	460	178	676	128	1,593	7,739	11,124	12,895	11,038	45,281	-141	2,173	-150	43,866	2,830	3,511	3,078	2,837	1,588
Discontinued operations, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,675	-	-7,886	5,383	-29,869	84,085	39,907	16,999	45,345	11,807	37,884	44	32,397	25,804	59,423	12,409	6,825	9,796	158	12,265
Gain (loss) on real estate dispositions, net
262,824	12,064	570,250	-1,682	167,409	41,913	24,723	10,755	338,184	56,381	1,622	42,155	244,092	200,165	162,351	1,530	0	31,385	2,046	190,111	56,845	-	29,604	6,668	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from continuing operations
329,380	240,136	647,932	150,040	292,302	124,696	84,226	167,273	453,555	198,132	87,677	161,286	93,518	514,987	192,390	209,219	165,474	118,026	197,211	140,348	152,577	95,636	123,167	74,511	64,740	33,581	28,222	37,050	-12,286	67,094	36,507	31,530	45,651	4,461	52,309	53,811	6,006	-13,391	-12,315	44,239	21,898	24,527	52,494
Net income (loss)
329,380	240,136	647,932	150,040	292,302	124,696	84,226	167,273	453,555	-89,737	89,299	203,441	337,610	351,106	354,741	210,749	165,474	149,411	199,257	330,459	209,422	206,475	152,771	87,854	65,200	25,695	33,605	7,181	71,799	107,001	53,506	76,875	57,458	42,345	52,353	86,208	31,810	46,032	94	51,064	31,694	24,685	64,759
Less: Preferred stock dividends
-	-	0	0	-	11,676	11,676	11,676	11,676	11,675	11,676	11,680	14,379	16,350	16,352	16,352	16,352	16,350	16,352	16,352	16,352	16,351	16,352	16,352	16,353	16,530	16,602	16,602	16,602	16,601	16,602	16,719	19,207	17,235	17,234	17,353	8,680	5,305	5,347	5,484	5,509	5,520	5,516
Preferred Stock Redemption Premium
-	-	-	-	-	-	-	-	-	0	0	0	9,769	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0	0	0	6,242	0	-	-	-	-	-	-	-	-	-	-
Less: Net income (loss) attributable to noncontrolling interests
19,096	15,812	58,056	12,278	11,832	11,257	8,166	1,165	4,208	10,104	3,580	3,332	823	1,712	3,479	-1,077	153	132	862	1,534	2,271	1,485	164	-327	-1,175	-2,308	-3,688	-913	139	-173	-365	-821	-1,056	-2,172	-1,488	-992	-242	740	-690	-66	373	35	3
Net income (loss) attributable to common stockholders
310,284	224,324	589,876	137,762	280,470	101,763	64,384	154,432	437,671	-111,516	74,043	188,429	312,639	333,044	334,910	195,474	148,969	132,929	182,043	312,573	190,799	188,639	136,255	71,829	50,022	11,473	20,691	-8,508	55,058	90,573	37,269	54,735	39,307	27,282	36,607	69,847	23,372	39,987	-4,563	45,646	25,812	19,130	59,240
Average number of common shares outstanding:
Basic (in shares)
410,306	406,276	405,023	404,607	391,474	378,391	373,023	371,640	371,426	370,801	369,089	366,524	362,534	362,446	358,932	356,646	355,076	354,042	351,765	350,399	336,754	617,425	311,117	296,256	289	288,569	286,020	273,091	260,036	259,822	224,391	213,498	199,661	186,302	177,272	176,445	154,945	138,248	125,298	123,808	123,270	114,874	110,864
Diluted (in shares)
412,420	408,216	406,891	406,673	393,452	380,181	374,487	373,075	373,257	372,463	370,740	368,149	364,652	364,729	361,237	358,891	356,051	355,411	353,107	351,366	337,812	619,890	312,812	297,995	290	290,498	288,029	276,481	260,036	260,758	226,258	215,138	201,658	186,782	177,849	177,488	155,485	139,420	125,298	124,324	123,790	115,289	111,272
Earnings Per Share [Abstract]
Basic:
Income (loss) from continuing operations (in USD per share)
0.80	0.59	1.60	0.37	0.75	0.32	0.23	0.45	1.22	0.53	0.24	0.44	0.26	1.12	0.93	0.55	0.42	-0.23	0.52	0.89	0.57	0.61	0.44	0.22	0.17	0.08	0.05	0.08	-0.11	0.21	0.09	0.04	0.14	-0.05	0.21	0.21	-0.02	-0.16	-0.14	0.31	0.13	0.17	0.42
Discontinued operations, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	-	-	0.00	0.02	-	-0.04	0.02	-0.11	0.32	0.16	0.08	0.21	0.06	0.20	0.00	0.18	0.17	0.45	0.10	0.06	0.08	0.00	0.11
Net income (loss) attributable to common stockholders (in USD per share)
0.76	0.55	1.46	0.34	0.72	0.26	0.17	0.42	1.18	-0.31	0.20	0.51	0.86	0.93	0.93	0.55	0.42	0.37	0.52	0.89	0.57	0.61	0.44	0.24	0.17	0.03	0.07	-0.03	0.21	0.36	0.17	0.26	0.20	0.14	0.21	0.40	0.15	0.30	-0.04	0.37	0.21	0.17	0.53
Diluted:
Income (loss) from continuing operations (in USD per share)
0.80	0.59	1.59	0.37	0.74	0.32	0.22	0.45	1.22	0.53	0.24	0.44	0.26	1.11	0.93	0.54	0.42	-0.23	0.52	0.89	0.56	0.60	0.44	0.22	0.17	0.08	0.05	0.08	-0.11	0.21	0.09	0.04	0.14	-0.05	0.21	0.21	-0.02	-0.16	-0.14	0.31	0.13	0.16	0.42
Discontinued operations, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	-	-	0.00	0.02	-	-0.04	0.02	-0.11	0.32	0.15	0.08	0.21	0.06	0.20	0.00	0.18	0.17	0.46	0.10	0.05	0.08	0.00	0.11
Net income (loss) attributable to common stockholders (in USD per share)
0.75	0.55	1.45	0.34	0.71	0.27	0.17	0.41	1.17	-0.31	0.20	0.51	0.86	0.92	0.93	0.54	0.42	0.37	0.52	0.89	0.56	0.60	0.44	0.24	0.17	0.03	0.07	-0.03	0.21	0.38	0.16	0.25	0.19	0.15	0.21	0.39	0.15	0.29	-0.04	0.37	0.21	0.17	0.53
Common Stock, Dividends, Per Share, Cash Paid
0.87	-	0.87	0.87	0.87	-	0.87	0.87	0.87	-	0.87	0.87	0.87	-	0.86	0.86	0.86	-	0.82	0.82	0.82	-	0.79	0.79	0.79	-	0.76	0.76	0.76	-	0.74	0.74	0.74	-	0.71	0.71	0.69	-	0.69	0.68	0.68	0.68	0.68
Other comprehensive income (loss):
Foreign currency translation gain (loss)
-265,577	-	-100,837	-54,024	78,620	-	-15,293	-200,826	79,024	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivative and financial instruments designated as hedges gain (loss)
259,112	-	78,947	100,407	-87,682	-	12,200	150,703	-62,698	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other comprehensive income (loss)
-6,465	-	-21,890	46,383	-9,062	-	-3,093	-50,123	16,326	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total comprehensive income (loss)
322,915	-	626,042	196,423	283,240	-	81,133	117,150	469,881	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	57,744	-	-	-	-	-	-	-	-	-	-
Less: Total comprehensive income (loss) attributable to noncontrolling interests
-3,313	-	53,220	14,665	17,619	-	10,933	-7,580	322	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total comprehensive income (loss) attributable to common stockholders
326,228	-	572,822	181,758	265,621	-	70,200	124,730	469,559	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Resident fees and services
Revenue from contract with customer
849,972	831,684	834,121	914,085	868,285	860,402	875,171	763,345	735,934	729,666	702,380	677,040	670,337	657,345	630,017	615,220	602,149	584,713	545,255	535,553	492,510	485,921	482,412	467,639	456,265	451,844	466,127	370,995	327,324	199,202	174,464	165,654	158,174	136,525	125,125	123,149	71,286	-	12,809	-	-	0	-
Interest income
Revenue from contract with customer
15,241	15,718	15,637	17,356	15,119	13,082	14,622	13,462	14,648	11,975	20,187	20,901	20,748	23,688	25,080	24,007	25,188	24,191	22,380	20,576	16,994	10,796	9,344	8,933	8,594	8,337	7,629	7,640	9,057	14,934	8,111	7,879	8,141	8,637	7,858	12,866	11,709	12,418	10,054	9,335	9,048	10,528	10,158
Other income
Revenue from contract with customer
3,429	5,837	4,228	3,079	7,757	7,194	3,699	15,504	3,014	2,366	6,036	5,062	4,072	7,915	2,884	14,802	4,050	7,134	2,072	4,414	5,086	3,736	1,619	2,027	493	898	1,443	1,025	700	764	1,339	1,482	1,686	1,321	1,809	5,341	2,824	2,443	1,156	2,650	996	1,089	1,237