Company Quick10K Filing
Quick10K
Omega Healthcare
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$40.06 207 $8,293
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-09-17 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-09-09 Other Events, Exhibits
8-K 2019-08-06 Earnings, Exhibits
8-K 2019-06-07 Shareholder Vote
8-K 2019-05-17 Off-BS Arrangement, Other Events, Exhibits
8-K 2019-05-07 Earnings, Exhibits
8-K 2019-02-11 Earnings, Exhibits
8-K 2019-02-01 Enter Agreement, Exhibits
8-K 2019-01-02 Enter Agreement, Other Events, Exhibits
8-K 2018-12-14 Officers, Exhibits
8-K 2018-11-05 Earnings, Exhibits
8-K 2018-10-31 Officers
8-K 2018-10-23 Officers, Exhibits
8-K 2018-09-07 Other Events, Exhibits
8-K 2018-08-03 Earnings, Exhibits
8-K 2018-06-11 Officers, Shareholder Vote, Exhibits
8-K 2018-05-07 Earnings, Exhibits
8-K 2018-04-27 Officers, Exhibits
8-K 2018-02-13 Earnings, Exhibits
AMT American Tower 101,847
IRM Iron Mountain 8,954
LAMR Lamar Advertising 7,537
PSB PS Business Parks 4,865
LTC LTC Properties 1,930
TIER Tier REIT 1,293
CPLG Corepoint Lodging 515
ACRE Ares Commercial Real Estate 434
EARN Ellington Residential Mortgage REIT 133
IOR Income Opportunity Realty Investors 62
OHI 2019-06-30
Part I - Financial Information
Item 1 - Financial Statements
Note 1 - Basis of Presentation and Significant Accounting Policies
Note 2 - Properties and Investments
Note 3 - Direct Financing Leases
Note 4 - Mortgage Notes Receivable
Note 5 - Other Investments
Note 6 - Variable Interest Entities
Note 7 - Investments in Joint Ventures
Note 8 - Assets Held for Sale
Note 9 - Intangibles
Note 10 - Concentration of Risk
Note 11 - Stockholders'/Owners' Equity
Note 12 - Taxes
Note 13 - Stock-Based Compensation
Note 14 - Borrowing Activities and Arrangements
Note 15 - Financial Instruments
Note 16 - Commitments and Contingencies
Note 17 - Earnings per Share/Unit
Note 18 - Supplemental Disclosure To Consolidated Statements of Cash Flows
Note 19 - Subsequent Event
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3 - Quantitative and Qualitative Disclosures About Market Risk
Item 4 - Controls and Procedures
Part II - Other Information
Item 1 - Legal Proceedings
Item 1A - Risk Factors
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds
Item 5- Other Information
Item 6-Exhibits
EX-10.1 ohi-20190630ex101049f19.htm
EX-31.1 ohi-20190630ex311aa542d.htm
EX-31.2 ohi-20190630ex312aaa4c3.htm
EX-31.3 ohi-20190630ex31398bdbe.htm
EX-31.4 ohi-20190630ex314f2fd45.htm
EX-32.1 ohi-20190630ex321e096a4.htm
EX-32.2 ohi-20190630ex3229f631e.htm
EX-32.3 ohi-20190630ex323faa473.htm
EX-32.4 ohi-20190630ex324d1828b.htm

Omega Healthcare Earnings 2019-06-30

OHI 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

falsefalse410--12-31--12-31Q2Q220192019-06-30truefalse10-Q303 International Circle, Suite 200Hunt Valley21030MD00008884910001639315falsefalse427-17001P25Y2018-03-012160890002023460002051-12-312046-09-01P5Y11100000us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentus-gaap:OtherAssets0.000P20YP8YP3Y0000888491ohi:AgemoHoldingsLlcMemberus-gaap:CollateralPledgedMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:PersonalGuaranteeCollateralMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:OtherCollateralMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:LettersOfCreditMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:CollateralPledgedMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberohi:PersonalGuaranteeCollateralMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberohi:OtherCollateralMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberohi:LettersOfCreditMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:OtherInvestmentsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:AccountsReceivableMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:StraightLineRentReceivablesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:RealEstateInvestmentsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:LeaseIncentiveMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:OtherInvestmentsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:AccountsReceivableMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:AboveMarketLeasesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberohi:StraightLineRentReceivablesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberohi:RealEstateInvestmentsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberohi:LeaseIncentiveMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:InvestmentIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-04-012019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:RentalIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-04-012019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-04-012019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:InvestmentIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-01-012019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:RentalIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-01-012019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2019-01-012019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:InvestmentIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-04-012018-06-300000888491ohi:AgemoHoldingsLlcMemberohi:RentalIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-04-012018-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-04-012018-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:InvestmentIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-01-012018-06-300000888491ohi:AgemoHoldingsLlcMemberohi:RentalIncomeMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-01-012018-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2018-01-012018-06-300000888491us-gaap:RetainedEarningsMember2018-12-310000888491us-gaap:ParentMember2018-12-310000888491us-gaap:NoncontrollingInterestMember2018-12-310000888491us-gaap:CommonStockMember2018-12-310000888491us-gaap:AdditionalPaidInCapitalMember2018-12-310000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2019-06-300000888491us-gaap:RetainedEarningsMember2019-06-300000888491us-gaap:ParentMember2019-06-300000888491us-gaap:CommonStockMember2019-06-300000888491us-gaap:AdditionalPaidInCapitalMember2019-06-300000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2019-06-300000888491srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2019-03-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:ParentMember2019-03-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2019-03-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2019-03-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:AdditionalPaidInCapitalMember2019-03-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2019-03-310000888491srt:RestatementAdjustmentMemberus-gaap:CommonStockMember2019-03-310000888491srt:RestatementAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2019-03-310000888491srt:RestatementAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000888491srt:RestatementAdjustmentMemberus-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2019-03-310000888491srt:ScenarioPreviouslyReportedMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2018-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2018-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2018-06-300000888491us-gaap:RetainedEarningsMember2018-06-300000888491us-gaap:ParentMember2018-06-300000888491us-gaap:NoncontrollingInterestMember2018-06-300000888491us-gaap:CommonStockMember2018-06-300000888491us-gaap:AdditionalPaidInCapitalMember2018-06-300000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-06-300000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2018-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2018-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2018-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2018-03-310000888491us-gaap:RetainedEarningsMember2018-03-310000888491us-gaap:ParentMember2018-03-310000888491us-gaap:NoncontrollingInterestMember2018-03-310000888491us-gaap:CommonStockMember2018-03-310000888491us-gaap:AdditionalPaidInCapitalMember2018-03-310000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-03-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2018-03-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2017-12-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:ParentMember2017-12-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2017-12-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:CommonStockMember2017-12-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:AdditionalPaidInCapitalMember2017-12-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2017-12-310000888491srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2017-12-310000888491srt:RestatementAdjustmentMemberus-gaap:CommonStockMember2017-12-310000888491srt:RestatementAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2017-12-310000888491srt:RestatementAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2017-12-310000888491srt:RestatementAdjustmentMemberus-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2017-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2017-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2017-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2017-12-310000888491srt:ScenarioPreviouslyReportedMember2017-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2018-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2017-12-310000888491ohi:ProfitInterestUnitsMember2019-01-012019-06-300000888491us-gaap:RestrictedStockUnitsRSUMember2019-01-010000888491ohi:TotalShareholderReturnProfitInterestUnitMember2019-01-010000888491ohi:TotalShareholderReturnPerformanceShareUnitsMember2019-01-010000888491ohi:RelativeTotalShareholderReturnProfitInterestUnitMember2019-01-010000888491ohi:RelativeTotalShareholderReturnPerformanceShareUnitsMember2019-01-010000888491ohi:ProfitInterestUnitsMember2019-01-010000888491us-gaap:NotesReceivableMember2019-01-012019-06-300000888491ohi:MedequitiesRealtyTrustInc.Member2019-05-172019-06-300000888491us-gaap:LandMember2019-06-300000888491us-gaap:FurnitureAndFixturesMember2019-06-300000888491us-gaap:ConstructionInProgressMember2019-06-300000888491us-gaap:BuildingMember2019-06-300000888491us-gaap:BuildingImprovementsMember2019-06-300000888491us-gaap:LandMember2018-12-310000888491us-gaap:FurnitureAndFixturesMember2018-12-310000888491us-gaap:ConstructionInProgressMember2018-12-310000888491us-gaap:BuildingMember2018-12-310000888491us-gaap:BuildingImprovementsMember2018-12-310000888491srt:MinimumMemberus-gaap:FurnitureAndFixturesMember2019-01-012019-06-300000888491srt:MinimumMemberus-gaap:BuildingMember2019-01-012019-06-300000888491srt:MinimumMemberohi:SiteImprovementsAndEquipmentMember2019-01-012019-06-300000888491srt:MaximumMemberus-gaap:FurnitureAndFixturesMember2019-01-012019-06-300000888491srt:MaximumMemberus-gaap:BuildingMember2019-01-012019-06-300000888491srt:MaximumMemberohi:SiteImprovementsAndEquipmentMember2019-01-012019-06-300000888491ohi:SecondSpringHealthcareInvestmentsMember2019-04-012019-06-300000888491ohi:SecondSpringHealthcareInvestmentsMember2018-04-012018-06-300000888491ohi:SecondSpringHealthcareInvestmentsMember2018-01-012018-06-300000888491us-gaap:RetainedEarningsMember2019-04-012019-06-300000888491us-gaap:RetainedEarningsMember2019-01-012019-03-310000888491us-gaap:RetainedEarningsMember2018-04-012018-06-300000888491us-gaap:RetainedEarningsMember2018-01-012018-03-310000888491ohi:SkilledNursingFacilitiesMemberstpr:KY2019-04-012019-06-300000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-04-012019-06-300000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-01-162019-06-300000888491ohi:ArkHoldingCompanyIncMemberohi:FifteenSkilledNursingFacilitiesMember2019-01-112019-01-110000888491ohi:MedicalOfficeBuildingMember2019-01-012019-03-310000888491ohi:PennslyvaniaAndVirginiaMemberus-gaap:LandMember2019-04-012019-06-300000888491ohi:PennslyvaniaAndVirginiaMemberus-gaap:FurnitureAndFixturesMember2019-04-012019-06-300000888491ohi:PennslyvaniaAndVirginiaMemberus-gaap:BuildingImprovementsMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMemberus-gaap:LandMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMemberus-gaap:FurnitureAndFixturesMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMemberus-gaap:BuildingImprovementsMember2019-04-012019-06-300000888491us-gaap:LandMember2019-01-012019-06-300000888491us-gaap:FurnitureAndFixturesMember2019-01-012019-06-300000888491us-gaap:BuildingImprovementsMember2019-01-012019-06-300000888491stpr:OHus-gaap:LandMember2019-01-012019-03-310000888491stpr:OHus-gaap:FurnitureAndFixturesMember2019-01-012019-03-310000888491stpr:OHus-gaap:BuildingImprovementsMember2019-01-012019-03-310000888491ohi:ArkHoldingCompanyIncMember2013-11-272013-11-270000888491srt:PartnershipInterestMemberus-gaap:ParentMember2019-06-300000888491us-gaap:NoncontrollingInterestMember2019-06-300000888491srt:PartnershipInterestMemberus-gaap:ParentMember2018-12-310000888491us-gaap:NoncontrollingInterestMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2019-06-300000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2019-06-300000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2018-06-300000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2018-06-300000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2018-03-310000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2018-03-310000888491srt:PartnershipInterestMember2018-03-310000888491srt:PartnershipInterestMembersrt:ScenarioPreviouslyReportedMemberus-gaap:LimitedPartnerMember2017-12-310000888491srt:PartnershipInterestMembersrt:ScenarioPreviouslyReportedMemberus-gaap:GeneralPartnerMember2017-12-310000888491srt:PartnershipInterestMembersrt:ScenarioPreviouslyReportedMember2017-12-310000888491ohi:USTermLoanMemberus-gaap:UnsecuredDebtMember2018-12-310000888491ohi:TermLoan2015Memberus-gaap:UnsecuredDebtMember2018-12-310000888491ohi:SterlingTermLoanMemberus-gaap:UnsecuredDebtMember2018-12-310000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2018-12-310000888491ohi:OmegaOpTermLoanMember2017-05-250000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2019-01-310000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:TermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2019-01-310000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:RevolvingWorkingCapitalLoanMember2019-01-310000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2018-12-310000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:RevolvingWorkingCapitalLoanMember2018-12-310000888491ohi:OtherInvestmentNoteDue2019Memberohi:TermLoanMember2018-09-282018-09-280000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-04-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2019-01-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2018-04-012018-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2018-01-012018-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2019-04-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2019-01-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2018-04-012018-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2018-01-012018-06-300000888491srt:PartnershipInterestMemberus-gaap:ParentMember2019-04-012019-06-300000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:ParentMember2019-01-012019-03-310000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-310000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2018-04-012018-06-300000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2018-04-012018-06-300000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-04-012018-06-300000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2018-01-012018-03-310000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2018-01-012018-03-310000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-01-012018-03-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2019-04-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2019-01-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2018-04-012018-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2018-01-012018-06-300000888491us-gaap:IndemnificationGuaranteeMember2019-06-300000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-03-310000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-01-3100008884912019-01-010000888491us-gaap:AccountingStandardsUpdate201602Member2019-01-010000888491us-gaap:AccountingStandardsUpdate201602Member2019-04-012019-06-300000888491us-gaap:AccountingStandardsUpdate201602Member2019-01-012019-06-300000888491ohi:SkilledNursingFacilitiesMember2019-06-300000888491ohi:OfficesOperatingLeasesMember2019-06-300000888491ohi:MedicalOfficeBuildingMember2019-06-300000888491ohi:OtherInvestmentNoteDue2019Memberstpr:VA2019-05-310000888491ohi:OtherInvestmentNoteDue2019Memberstpr:PA2019-05-310000888491ohi:ArkHoldingCompanyIncMemberohi:SkilledNursingFacilitiesMember2013-11-270000888491ohi:ArkHoldingCompanyIncMemberohi:AssistedLivingFacilitiesMember2013-11-270000888491ohi:TwoMortgageNotesDue2029Memberus-gaap:MortgageReceivablesMemberus-gaap:ConstructionLoansMember2019-06-300000888491ohi:MortgageNoteDue2029Memberus-gaap:MortgageReceivablesMember2019-06-300000888491ohi:MortgageNoteDue2027Memberus-gaap:MortgageReceivablesMember2019-06-300000888491ohi:OtherMortgageNotesMember2019-06-300000888491ohi:OtherInvestmentNoteDue2023InterestAtTwelvePercentMember2019-06-300000888491ohi:OtherInvestmentNoteDue2023InterestAtSevenPointThirtyTwoPercentMember2019-06-300000888491ohi:MortgageNoteDue2029Memberus-gaap:MortgageReceivablesMember2018-12-310000888491ohi:MortgageNoteDue2027Memberus-gaap:MortgageReceivablesMember2018-12-310000888491ohi:OtherMortgageNotesMember2018-12-310000888491ohi:OtherInvestmentNotesOutstandingMember2018-12-310000888491ohi:OtherInvestmentNoteDue2024Through2025Member2018-12-310000888491ohi:OtherInvestmentNoteDue2023InterestAtTwelvePercentMember2018-12-310000888491ohi:OtherInvestmentNoteDue2023InterestAtSevenPointThirtyTwoPercentMember2018-12-310000888491ohi:OtherInvestmentNoteDue2020Member2018-12-310000888491ohi:OtherInvestmentNoteDue2019Member2018-12-310000888491ohi:OtherInvestmentNoteDue2018Through2022Member2018-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2028Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2027Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2026Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2026Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2025Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2025Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2024Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2024Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2023Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2023Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000888491ohi:SeniorNotesDue2028Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-310000888491ohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2018-12-310000888491ohi:OneMortgageMemberus-gaap:MortgageReceivablesMemberus-gaap:CommercialBorrowerMember2019-06-300000888491ohi:OneMortgageMemberus-gaap:MortgageReceivablesMemberus-gaap:CommercialBorrowerMember2018-12-310000888491srt:PartnershipInterestMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300000888491srt:PartnershipInterestMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2018-06-300000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2018-12-310000888491ohi:OtherInvestorsMemberohi:OmegaOpUnitsMember2019-01-012019-06-300000888491ohi:OmegaOpUnitsMember2019-01-012019-06-300000888491srt:MinimumMember2019-06-300000888491srt:MaximumMember2019-06-300000888491us-gaap:ScenarioPlanMember2020-12-310000888491srt:MinimumMemberohi:GroundLeasesMember2019-06-300000888491srt:MaximumMemberohi:GroundLeasesMember2019-06-300000888491ohi:OfficeLeasesMember2019-06-300000888491ohi:GroundLeasesMember2019-04-012019-06-300000888491ohi:GroundLeasesMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:TermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2018-12-310000888491ohi:OtherInvestmentNoteDue2019Member2018-09-280000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2018-03-310000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:TermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2018-03-310000888491us-gaap:AboveMarketLeasesMember2019-06-300000888491us-gaap:AboveMarketLeasesMember2018-12-310000888491ohi:PhysiciansAndNonPhysicianInvestorMemberohi:LakewayPartnershipMember2019-05-170000888491ohi:AffiliatesOfLindseyGoldbergLlcMemberohi:SecondSpringHealthcareInvestmentsMember2016-11-010000888491ohi:SecondSpringHealthcareInvestmentsMember2016-11-010000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2019-04-012019-06-300000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2019-01-012019-03-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2018-04-012018-06-300000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2018-01-012018-03-310000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-01-012019-03-310000888491srt:PartnershipInterestMemberohi:TermLoanMemberus-gaap:UnsecuredDebtMember2019-06-300000888491ohi:TermLoanMemberus-gaap:UnsecuredDebtMember2019-06-300000888491ohi:TermLoanMemberus-gaap:UnsecuredDebtMember2018-12-310000888491ohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMemberus-gaap:SubsequentEventMember2019-08-012019-08-010000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2019-01-012019-06-300000888491ohi:USTermLoanMemberus-gaap:UnsecuredDebtMember2019-01-012019-06-300000888491ohi:TermLoan2015Memberus-gaap:UnsecuredDebtMember2019-01-012019-06-300000888491ohi:SterlingTermLoanMemberus-gaap:UnsecuredDebtMember2019-01-012019-06-300000888491ohi:SeniorNotesDue2028Memberus-gaap:SeniorNotesMember2019-01-012019-06-300000888491ohi:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2019-01-012019-06-300000888491ohi:SeniorNotesDue2026Memberus-gaap:SeniorNotesMember2019-01-012019-06-300000888491ohi:SeniorNotesDue2025Memberus-gaap:SeniorNotesMember2019-01-012019-06-300000888491ohi:SeniorNotesDue2024Memberus-gaap:SeniorNotesMember2019-01-012019-06-300000888491ohi:SeniorNotesDue2023Memberus-gaap:SeniorNotesMember2019-01-012019-06-300000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2019-01-012019-06-300000888491us-gaap:UnsecuredDebtMember2019-01-012019-06-300000888491us-gaap:SecuredDebtMember2019-01-012019-06-300000888491ohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMember2019-05-172019-05-170000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2019-06-300000888491ohi:USTermLoanMemberus-gaap:UnsecuredDebtMember2019-06-300000888491ohi:TermLoan2015Memberus-gaap:UnsecuredDebtMember2019-06-300000888491ohi:SterlingTermLoanMemberus-gaap:UnsecuredDebtMember2019-06-300000888491ohi:OtherInvestmentNoteDue2023InterestAtSevenPointThirtyTwoPercentMembersrt:MaximumMember2019-06-300000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2019-06-300000888491us-gaap:SecuredDebtMember2019-06-300000888491ohi:SeniorNotesDue2028Member2019-06-300000888491ohi:SeniorNotesDue2027Member2019-06-300000888491ohi:SeniorNotesDue2026Member2019-06-300000888491ohi:SeniorNotesDue2025Member2019-06-300000888491ohi:SeniorNotesDue2024Member2019-06-300000888491ohi:SeniorNotesDue2023Member2019-06-300000888491ohi:OtherInvestmentNotesOutstandingMember2019-06-300000888491ohi:OtherInvestmentNoteDue2024Through2025Member2019-06-300000888491ohi:OtherInvestmentNoteDue2023Member2019-06-300000888491ohi:OtherInvestmentNoteDue2020Member2019-06-300000888491ohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMember2019-05-170000888491ohi:SeniorNotesDue2028Member2018-12-310000888491ohi:SeniorNotesDue2027Member2018-12-310000888491ohi:SeniorNotesDue2026Member2018-12-310000888491ohi:SeniorNotesDue2025Member2018-12-310000888491ohi:SeniorNotesDue2024Member2018-12-310000888491ohi:SeniorNotesDue2023Member2018-12-310000888491ohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMemberus-gaap:SubsequentEventMember2019-08-010000888491ohi:OmegaOpTermLoanMember2017-05-252017-05-250000888491ohi:SeniorNotesDue2028Memberus-gaap:SeniorNotesMember2019-06-300000888491ohi:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2019-06-300000888491ohi:SeniorNotesDue2026Memberus-gaap:SeniorNotesMember2019-06-300000888491ohi:SeniorNotesDue2025Memberus-gaap:SeniorNotesMember2019-06-300000888491ohi:SeniorNotesDue2024Memberus-gaap:SeniorNotesMember2019-06-300000888491ohi:SeniorNotesDue2023Memberus-gaap:SeniorNotesMember2019-06-300000888491ohi:SeniorNotesDue2028Memberus-gaap:SeniorNotesMember2018-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2018-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:SeniorNotesMember2018-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:SeniorNotesMember2018-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:SeniorNotesMember2018-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:SeniorNotesMember2018-12-310000888491srt:MinimumMemberohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMember2019-05-172019-05-170000888491srt:MaximumMemberohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMember2019-05-172019-05-170000888491srt:MinimumMemberohi:OmegaOpTermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2017-05-252017-05-250000888491srt:MaximumMemberohi:OmegaOpTermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2017-05-252017-05-250000888491us-gaap:AccountingStandardsUpdate201602Member2019-04-010000888491srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2019-03-310000888491srt:RestatementAdjustmentMemberus-gaap:ParentMember2019-03-310000888491srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:ParentMember2019-03-310000888491srt:RestatementAdjustmentMember2019-03-310000888491srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2017-12-310000888491srt:RestatementAdjustmentMemberus-gaap:ParentMember2017-12-310000888491srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2017-12-310000888491srt:RestatementAdjustmentMember2017-12-310000888491us-gaap:SalesRevenueNetMemberohi:CienaHealthcareMember2019-04-012019-06-300000888491us-gaap:SalesRevenueNetMemberohi:CienaHealthcareMember2019-01-012019-06-300000888491stpr:TXus-gaap:GeographicConcentrationRiskMember2019-01-012019-06-300000888491stpr:MIus-gaap:GeographicConcentrationRiskMember2019-01-012019-06-300000888491stpr:FLus-gaap:GeographicConcentrationRiskMember2019-01-012019-06-300000888491us-gaap:ProductConcentrationRiskMember2019-01-012019-06-300000888491us-gaap:SalesRevenueNetMemberohi:CienaHealthcareMember2018-04-012018-06-300000888491us-gaap:SalesRevenueNetMemberohi:CienaHealthcareMember2018-01-012018-06-300000888491srt:PartnershipInterestMember2018-01-012018-03-310000888491ohi:DividendRecordDate31July2019Member2019-01-012019-06-300000888491ohi:DividendRecordDate31January2019Member2019-01-012019-06-300000888491ohi:DividendRecordDate30April2019Member2019-01-012019-06-300000888491us-gaap:CashFlowHedgingMember2019-06-300000888491us-gaap:CashFlowHedgingMember2018-12-310000888491srt:PartnershipInterestMember2018-06-300000888491srt:PartnershipInterestMember2017-12-310000888491us-gaap:ScenarioPlanMemberohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMemberus-gaap:SubsequentEventMember2019-08-010000888491ohi:MedequitiesRealtyTrustInc.Memberohi:TermLoan125MillionMember2019-05-170000888491ohi:MedequitiesRealtyTrustInc.Member2019-04-012019-06-300000888491ohi:MedequitiesRealtyTrustInc.Member2019-01-012019-06-300000888491srt:ProFormaMember2019-04-012019-06-300000888491srt:ProFormaMember2019-01-012019-06-300000888491srt:ProFormaMember2018-04-012018-06-300000888491srt:ProFormaMember2018-01-012018-06-3000008884912019-05-172019-05-170000888491ohi:ArkHoldingCompanyIncMemberohi:FifteenSkilledNursingFacilitiesMember2019-01-012019-06-300000888491us-gaap:ParentMember2018-04-012018-06-300000888491us-gaap:CommonStockMember2018-04-012018-06-300000888491us-gaap:AdditionalPaidInCapitalMember2018-04-012018-06-300000888491us-gaap:MortgageReceivablesMemberus-gaap:CommercialBorrowerMember2019-01-012019-06-300000888491us-gaap:MortgageReceivablesMemberus-gaap:CommercialBorrowerMember2018-01-012018-12-310000888491ohi:LakewayPartnershipMember2019-05-172019-05-170000888491srt:WeightedAverageMemberohi:OtherMortgageNotesMember2019-01-012019-06-300000888491ohi:LakewayPartnershipMember2019-05-170000888491us-gaap:ParentMember2018-01-012018-03-310000888491us-gaap:CommonStockMember2018-01-012018-03-310000888491us-gaap:AdditionalPaidInCapitalMember2018-01-012018-03-310000888491ohi:AgemoHoldingsLlcMemberohi:RentalIncomeMember2019-04-012019-06-300000888491ohi:AgemoHoldingsLlcMemberohi:RentalIncomeMember2019-01-012019-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:InvestmentIncomeMember2018-04-012018-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:InvestmentIncomeMember2018-01-012018-06-300000888491srt:PartnershipInterestMember2019-06-300000888491srt:PartnershipInterestMember2018-12-310000888491ohi:TripleNetLeasesMember2019-01-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2019-04-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2019-01-012019-03-310000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2019-04-012019-06-300000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2019-01-012019-03-310000888491srt:PartnershipInterestMember2019-01-012019-03-310000888491us-gaap:UnsecuredDebtMember2019-06-300000888491us-gaap:UnsecuredDebtMember2018-12-310000888491ohi:PennslyvaniaAndVirginiaMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMember2019-04-012019-06-300000888491stpr:OH2019-01-012019-03-310000888491srt:PartnershipInterestMemberus-gaap:LimitedPartnerMember2019-03-310000888491srt:PartnershipInterestMemberus-gaap:GeneralPartnerMember2019-03-310000888491srt:PartnershipInterestMember2019-03-310000888491srt:PartnershipInterestMembersrt:RestatementAdjustmentMemberus-gaap:LimitedPartnerMember2017-12-310000888491srt:PartnershipInterestMembersrt:RestatementAdjustmentMemberus-gaap:GeneralPartnerMember2017-12-310000888491srt:PartnershipInterestMembersrt:RestatementAdjustmentMember2017-12-3100008884912018-06-3000008884912018-03-3100008884912017-12-310000888491country:US2019-06-300000888491ohi:SkilledNursingFacilitiesMember2018-09-280000888491ohi:IndependentLivingFacilitiesMember2018-09-280000888491ohi:AssistedLivingFacilitiesMember2018-09-280000888491ohi:TripleNetLeasesMemberus-gaap:SubsequentEventMember2019-07-262019-07-260000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-01-110000888491us-gaap:MortgageReceivablesMember2019-01-012019-06-300000888491ohi:AssistedLivingFacilitiesMemberus-gaap:SubsequentEventMember2019-07-262019-07-260000888491ohi:SkilledNursingFacilitiesMember2019-07-262019-07-260000888491ohi:PennslyvaniaAndVirginiaMemberohi:SpecialtyMember2019-04-012019-06-300000888491ohi:PennslyvaniaAndVirginiaMemberohi:SkilledNursingFacilitiesMember2019-04-012019-06-300000888491ohi:PennslyvaniaAndVirginiaMemberohi:AssistedLivingFacilitiesMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMemberohi:SpecialtyMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMemberohi:SkilledNursingFacilitiesMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMemberohi:MedicalOfficeBuildingMember2019-04-012019-06-300000888491ohi:CaliforniaConnecticutIndianaNevadaSouthCarolinaTennesseeAndTexasMemberohi:AssistedLivingFacilitiesMember2019-04-012019-06-300000888491ohi:SpecialtyMember2019-01-012019-06-300000888491ohi:SkilledNursingFacilitiesMember2019-01-012019-06-300000888491ohi:MedicalOfficeBuildingMember2019-01-012019-06-300000888491ohi:AssistedLivingFacilitiesMember2019-01-012019-06-300000888491stpr:OHohi:SkilledNursingFacilitiesMember2019-01-012019-03-310000888491ohi:SecondSpringHealthcareInvestmentsMemberohi:SkilledNursingFacilitiesMember2016-11-012016-11-0100008884912019-03-310000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:SkilledNursingFacilitiesMember2018-01-012018-12-310000888491ohi:SpecialtyMember2019-01-012019-06-300000888491ohi:SkilledNursingFacilitiesMember2019-01-012019-06-300000888491ohi:SecondSpringHealthcareInvestmentsMember2019-01-012019-06-300000888491ohi:MedicalOfficeBuildingMember2019-01-012019-06-300000888491ohi:AssistedLivingFacilitiesMember2019-01-012019-06-300000888491ohi:SpecialtyMember2019-06-300000888491ohi:SkilledNursingFacilitiesMember2019-06-300000888491ohi:AssistedLivingFacilitiesMember2019-06-3000008884912018-12-310000888491us-gaap:SubsequentEventMember2019-07-260000888491ohi:LakewayPartnershipMember2019-01-012019-06-300000888491ohi:TwoMortgageNotesDue2029Memberus-gaap:MortgageReceivablesMemberus-gaap:ConstructionLoansMember2019-01-012019-06-300000888491ohi:MortgageNoteDue2029Membersrt:MaximumMemberus-gaap:MortgageReceivablesMember2019-01-012019-06-300000888491srt:MinimumMemberohi:OtherMortgageNotesMember2019-01-012019-06-300000888491srt:MaximumMemberohi:OtherMortgageNotesMember2019-01-012019-06-300000888491ohi:MortgageNoteDue2029Memberus-gaap:MortgageReceivablesMember2019-01-012019-06-300000888491ohi:MortgageNoteDue2027Memberus-gaap:MortgageReceivablesMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2019Memberohi:TermLoanMember2018-09-280000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:RevolvingWorkingCapitalLoanMember2017-05-310000888491ohi:ExistingOperatorMemberus-gaap:AccountingStandardsUpdate201602Member2019-04-012019-06-300000888491ohi:ExistingOperatorMemberus-gaap:AccountingStandardsUpdate201602Member2019-01-012019-06-300000888491ohi:ArkHoldingCompanyIncMember2013-11-270000888491srt:MinimumMember2019-01-012019-06-300000888491srt:MaximumMember2019-01-012019-06-300000888491ohi:OutsideInvestorsMemberohi:MedicalOfficeBuildingMember2019-02-280000888491ohi:MedicalOfficeBuildingMember2019-02-280000888491srt:PartnershipInterestMember2019-04-012019-06-300000888491srt:PartnershipInterestMember2018-04-012018-06-300000888491ohi:MedicalOfficeBuildingMember2019-02-012019-02-280000888491ohi:LakewayPartnershipMember2019-05-172019-06-3000008884912019-04-012019-06-300000888491srt:PartnershipInterestMember2018-01-012018-06-300000888491ohi:NonOriannaEntitiesMember2019-06-300000888491ohi:NonOriannaEntitiesMember2018-12-310000888491ohi:ArkHoldingCompanyIncMember2018-12-310000888491ohi:ArkHoldingCompanyIncMember2018-01-012018-12-3100008884912019-01-012019-03-310000888491ohi:OtherInvestmentNotesOutstandingMembersrt:MaximumMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2024Through2025Membersrt:MinimumMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2024Through2025Membersrt:MaximumMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2023InterestAtSevenPointThirtyTwoPercentMembersrt:MinimumMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2018Through2022Membersrt:MinimumMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2018Through2022Membersrt:MaximumMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2023Member2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2020Member2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2019Member2019-01-012019-06-3000008884912018-01-012018-06-300000888491us-gaap:NoncontrollingInterestMember2018-04-012018-06-300000888491us-gaap:NoncontrollingInterestMember2018-01-012018-03-3100008884912018-04-012018-06-3000008884912018-01-012018-03-310000888491us-gaap:ParentMember2019-04-012019-06-300000888491us-gaap:NoncontrollingInterestMember2019-04-012019-06-300000888491us-gaap:CommonStockMember2019-04-012019-06-300000888491us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300000888491us-gaap:ParentMember2019-01-012019-03-310000888491us-gaap:NoncontrollingInterestMember2019-01-012019-03-310000888491us-gaap:CommonStockMember2019-01-012019-03-310000888491us-gaap:AdditionalPaidInCapitalMember2019-01-012019-03-310000888491us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-06-300000888491us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-06-300000888491us-gaap:EstimateOfFairValueFairValueDisclosureMember2018-12-310000888491us-gaap:CarryingReportedAmountFairValueDisclosureMember2018-12-3100008884912019-05-170000888491us-gaap:SubsequentEventMember2019-07-262019-07-260000888491ohi:MedequitiesRealtyTrustInc.Member2019-05-172019-05-170000888491ohi:MedequitiesRealtyTrustInc.Member2019-05-1700008884912019-06-300000888491us-gaap:MortgageReceivablesMember2019-06-300000888491us-gaap:MortgageReceivablesMember2018-12-310000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2018-01-012018-12-310000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-01-112019-01-110000888491ohi:ArkHoldingCompanyIncMemberohi:DirectFinancingLeasesMemberohi:FifteenSkilledNursingFacilitiesMember2019-06-300000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:TermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2019-01-012019-06-300000888491ohi:OtherInvestmentNoteDue2018Through2022Memberohi:ArkHoldingCompanyIncMemberohi:RevolvingWorkingCapitalLoanMember2019-01-012019-06-3000008884912019-08-020000888491srt:PartnershipInterestMember2019-01-012019-06-3000008884912019-01-012019-06-30ohi:leaseohi:contractohi:propertyohi:entityutr:sqftohi:segmentxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureohi:loanohi:securityohi:facilityohi:stateohi:item

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2019

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                           to                           

OMEGA HEALTHCARE INVESTORS, INC.

OHI HEALTHCARE PROPERTIES LIMITED PARTNERSHIP

(Exact name of registrant as specified in its charter)

Maryland

1-11316

38-3041398

(Omega Healthcare Investors, Inc.)

(Omega Healthcare Investors, Inc.)

(Omega Healthcare Investors, Inc.)

Delaware

333-203447-11

36-4796206

(OHI Healthcare Properties Limited
Partnership)

(OHI Healthcare Properties Limited
Partnership)

(OHI Healthcare Properties Limited
Partnership)

(State or other jurisdiction of incorporation or
organization)

(Commission file number)

(IRS Employer Identification No.)

303 International Circle, Suite 200, Hunt Valley, MD 21030

(Address of principal executive offices)

(410) 427-1700

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $.10 par value

OHI

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.

Omega Healthcare Investors, Inc. Yes      No  

OHI Healthcare Properties Limited Partnership Yes    No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Omega Healthcare Investors, Inc. Yes      No  

OHI Healthcare Properties Limited Partnership Yes    No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Omega Healthcare Investors, Inc.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

OHI Healthcare Properties Limited Partnership

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Omega Healthcare Investors, Inc.

OHI Healthcare Properties Limited Partnership

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Omega Healthcare Investors, Inc. Yes  

No

OHI Healthcare Properties Limited Partnership Yes  

No

Indicate the number of shares outstanding of each of the issuers’ classes of common stock as of August 2, 2019

Omega Healthcare Investors, Inc.

Common Stock, $.10 par value

216,553,668

OHI Healthcare Properties Limited Partnership

N/A

No common stock outstanding

(Class)

(Number of shares)

Table of Contents

EXPLANATORY NOTE

This report combines the quarterly reports on Form 10-Q for the period ended June 30, 2019 of Omega Healthcare Investors, Inc. and OHI Healthcare Properties Limited Partnership (“Omega OP”). Unless stated otherwise or the context otherwise requires, (i) references to “Omega” or the “Company” means Omega Healthcare Investors, Inc. and its consolidated subsidiaries, (ii) references to “Parent” refer to Omega Healthcare Investors, Inc. without regard to its consolidated subsidiaries, and (iii) references to “Omega OP” means OHI Healthcare Properties Limited Partnership and its consolidated subsidiaries.

Omega is a self-administered real estate investment trust (“REIT”) under the Internal Revenue Code of 1986. Omega is structured as an umbrella partnership REIT (“UPREIT”) under which all of Omega’s assets are owned directly or indirectly by, and all of Omega’s operations are conducted directly or indirectly through, its operating partnership subsidiary, Omega OP.

Parent directly owned approximately 97% of the issued and outstanding partnership units in Omega OP (the “Omega OP Units”) at June 30, 2019. Each Omega OP Unit (other than those owned by Parent) is redeemable at the election of the holder for cash equal to the then-fair market value of one share of common stock of Parent, subject to Parent’s election to exchange the Omega OP Units tendered for redemption for common stock of the Parent on a one-for-one basis in an unregistered transaction, subject to adjustment as set forth in the partnership agreement. The management of Parent consists of the same members as the management of Omega OP.

The financial results of Omega OP are consolidated into the financial statements of Omega. Omega has no significant assets other than its investments in Omega OP. Omega and Omega OP are managed and operated as one entity. Omega OP has no significant assets other than its interests in non-guarantor subsidiaries.

We believe it is important for investors to understand the few differences between Omega and Omega OP in the context of how we operate as a consolidated company. Omega acts as the general partner of Omega OP. Net proceeds from equity issuances by Parent are contributed to Omega OP in exchange for additional partnership units. Parent and Omega OP incur indebtedness. The net proceeds of the Parent’s borrowings are loaned to Omega OP. The outstanding senior notes and certain other debt of Parent is guaranteed by Omega OP.

The presentation of debt and related interest, including amounts accrued, stockholders’ equity, owners’ equity and noncontrolling interests are the main areas of difference between the consolidated financial statements of Omega and Omega OP. The differences between debt, stockholders’ equity and owners’ equity result from differences in the debt or equity issued at the Omega and Omega OP levels. With respect to owners’ equity, the units held by the partners in Omega OP other than the Parent are accounted for as owners’ equity in Omega OP’s financial statements and as noncontrolling interests in Omega’s financial statements. Although classified differently, total debt and equity of Omega and Omega OP are the same.

We believe combining the quarterly reports on Form 10-Q of Omega and Omega OP into this single report results in the following benefits:

combined reports better reflect how management and the analyst community view the business as a single operating unit;
combined reports enhance investors’ understanding of Omega and Omega OP by enabling them to view the business as a whole and in the same manner as management;
combined reports are more efficient for Omega and Omega OP and result in savings in time, effort and expense; and
combined reports are more efficient for investors by reducing duplicative disclosure and providing a single document for their review.

In order to highlight the differences between Omega and Omega OP, the separate sections in this report for Omega and Omega OP specifically refer to Omega and Omega OP. In the sections that combine disclosure of Omega and Omega OP, this report refers to “we” and “us” actions or holdings as being “our” actions or holdings. Although Omega OP and its subsidiaries hold all of our assets, we believe that reference to “we,” “us” or “our” in this context is appropriate because the business is one enterprise and we operate substantially all of our business through Omega OP.

Table of Contents

OMEGA HEALTHCARE INVESTORS, INC.

OHI HEALTHCARE PROPERTIES LIMITED PARTNERSHIP

FORM 10-Q

June 30, 2019

TABLE OF CONTENTS

Page
No.

PART I

Financial Information

Item 1.

Financial Statements of Omega Healthcare Investors, Inc.:

Consolidated Balance Sheets

June 30, 2019 (unaudited) and December 31, 2018

2

Consolidated Statements of Operations (unaudited)

Three and Six months ended June 30, 2019 and 2018

3

Consolidated Statements of Comprehensive Income (unaudited)

Three and Six months ended June 30, 2019 and 2018

4

Consolidated Statements of Changes in Equity (unaudited)

Three and Six months ended June 30, 2019 and 2018

5

Consolidated Statements of Cash Flows (unaudited)

Six months ended June 30, 2019 and 2018

7

Financial Statements of OHI Healthcare Properties Limited Partnership:

Consolidated Balance Sheets

June 30, 2019 (unaudited) and December 31, 2018

8

Consolidated Statements of Operations (unaudited)

Three and Six months ended June 30, 2019 and 2018

9

Consolidated Statements of Comprehensive Income (unaudited)

Three and Six months ended June 30, 2019 and 2018

10

Consolidated Statements of Changes in Owners’ Equity (unaudited)

Three and Six months ended June 30, 2019 and 2018

11

Consolidated Statements of Cash Flows (unaudited)

Six months ended June 30, 2019 and 2018

13

Notes to Consolidated Financial Statements

June 30, 2019 (unaudited)

14

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

47

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

65

Item 4.

Controls and Procedures

65

PART II

Other Information

Item 1.

Legal Proceedings

66

Item 1A.

Risk Factors

66

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

67

Item 5.

Other Information

68

Item 6.

Exhibits

69

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1 - Financial Statements

OMEGA HEALTHCARE INVESTORS, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

    

June 30, 

    

December 31, 

    

2019

    

2018

    

(Unaudited)

ASSETS

Real estate properties

 

  

 

  

Real estate investments

$

8,373,540

 

$

7,746,410

Less accumulated depreciation

 

(1,689,438)

 

 

(1,562,619)

Real estate investments – net

 

6,684,102

 

 

6,183,791

Investments in direct financing leases – net

 

11,709

 

 

132,262

Mortgage notes receivable – net

 

774,327

 

 

710,858

 

7,470,138

 

 

7,026,911

Other investments

 

367,233

 

 

504,626

Investments in unconsolidated joint ventures

 

102,838

 

 

31,045

Assets held for sale – net

 

4,606

 

 

989

Total investments

 

7,944,815

 

 

7,563,571

Cash and cash equivalents

 

32,766

 

 

10,300

Restricted cash

 

1,372

 

 

1,371

Contractual receivables – net

 

25,903

 

 

33,826

Other receivables and lease inducements

342,030

313,551

Goodwill

 

643,875

 

 

643,950

Other assets

 

107,659

 

 

24,308

Total assets

$

9,098,420

 

$

8,590,877

LIABILITIES AND EQUITY

 

  

 

 

  

Revolving line of credit

$

500,000

 

$

313,000

Term loans – net

 

898,604

 

 

898,726

Secured borrowing

 

2,275

 

 

Senior notes and other unsecured borrowings – net

 

3,331,905

 

 

3,328,896

Accrued expenses and other liabilities

 

300,303

 

 

272,172

Deferred income taxes

 

12,827

 

 

13,599

Total liabilities

 

5,045,914

 

 

4,826,393

Equity:

 

  

 

  

Common stock $.10 par value authorized – 350,000 shares, issued and outstanding – 216,089 shares as of June 30, 2019 and 202,346 as of December 31, 2018

 

21,608

 

20,235

Common stock – additional paid-in capital

 

5,580,042

 

5,074,544

Cumulative net earnings

 

2,265,156

 

2,130,511

Cumulative dividends paid

 

(4,013,116)

 

(3,739,197)

Accumulated other comprehensive loss

 

(50,719)

 

(41,652)

Total stockholders’ equity

 

3,802,971

 

3,444,441

Noncontrolling interest

 

249,535

 

320,043

Total equity

 

4,052,506

 

3,764,484

Total liabilities and equity

$

9,098,420

 

$

8,590,877

See notes to consolidated financial statements.

2

Table of Contents

OMEGA HEALTHCARE INVESTORS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

Unaudited

(in thousands, except per share amounts)

 

Three Months Ended

Six Months Ended

 

    

June 30, 

    

June 30, 

    

2019

    

2018

    

2019

    

2018

    

Revenue

Rental income

$

194,817

$

192,850

 

$

386,994

$

386,799

Income from direct financing leases

 

259

 

497

 

 

519

 

1,110

Mortgage interest income

 

18,832

 

16,834

 

 

36,966

 

33,413

Other investment income

 

11,133

 

9,097

 

 

23,047

 

17,624

Miscellaneous income

 

238

 

603

 

 

1,441

 

1,134

Total operating revenues

 

225,279

 

219,881

 

 

448,967

 

440,080

Expenses

 

  

 

  

 

 

  

 

  

Depreciation and amortization

 

73,637

 

69,609

 

 

144,489

 

139,970

General and administrative

 

13,875

 

15,237

 

 

30,008

 

31,712

Real estate taxes

4,030

7,912

Acquisition costs

 

1,236

 

 

 

4,185

 

Impairment (recovery) on real estate properties

 

5,709

 

(1,097)

 

 

5,709

 

3,817

Impairment on direct financing leases

 

 

 

 

7,700

 

Provision for uncollectible accounts

 

 

564

 

 

 

8,378

Total operating expenses

 

98,487

 

84,313

 

 

200,003

 

183,877

Other operating (loss) income

(Loss) gain on assets sold – net

(267)

(2,891)

(264)

14,609

Operating income

 

126,525

 

132,677

 

 

248,700

 

270,812

Other income (expense)

 

 

  

 

 

 

  

Interest income and other – net

 

(191)

 

1,125

 

 

146

 

1,710

Interest expense

 

(48,380)

 

(48,082)

 

 

(96,480)

 

(96,093)

Interest – amortization of deferred financing costs

 

(2,238)

 

(2,242)

 

 

(4,476)

 

(4,485)

Realized loss on foreign exchange

 

(195)

 

(66)

 

 

(169)

 

(7)

Total other expense

 

(51,004)

 

(49,265)

 

 

(100,979)

 

(98,875)

Income from continuing operations

 

75,521

 

83,412

 

 

147,721

 

171,937

Income tax expense

 

(793)

 

(838)

 

 

(1,468)

 

(1,381)

Income (loss) from unconsolidated joint ventures

 

943

 

(588)

 

 

1,600

 

(637)

Net income

 

75,671

 

81,986

 

 

147,853

 

169,919

Net income attributable to noncontrolling interest

 

(2,530)

 

(3,450)

 

 

(5,010)

 

(7,163)

Net income available to common stockholders

$

73,141

$

78,536

 

$

142,843

$

162,756

Earnings per common share/unit available to common stockholders:

 

  

 

  

 

 

  

 

  

Basic:

 

  

 

  

 

 

  

 

  

Net income available to common stockholders

$

0.35

$

0.39

 

$

0.69

$

0.82

Diluted:

 

  

 

  

 

 

  

 

  

Net income

$

0.34

$

0.39

 

$

0.68

$

0.82

Weighted-average shares outstanding, basic

 

211,569

 

199,497

 

 

208,064

 

199,204

Weighted-average shares outstanding, diluted

 

220,479

 

208,460

 

 

217,002

 

208,139

See notes to consolidated financial statements.

3

Table of Contents

OMEGA HEALTHCARE INVESTORS, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Unaudited

(in thousands)

Three Months Ended

Six Months Ended

    

June 30, 

    

June 30, 

    

2019

    

2018

    

2019

    

2018

    

Net income

$

75,671

$

81,986

$

147,853

$

169,919

Other comprehensive (loss) income:

 

 

  

 

 

  

Foreign currency translation

 

(5,766)

 

(16,153)

 

(1,291)

 

(6,284)

Cash flow hedges

 

(5,384)

 

1,788

 

(8,087)

 

6,276

Total other comprehensive loss

 

(11,150)

 

(14,365)

 

(9,378)

 

(8)

Comprehensive income

 

64,521

 

67,621

 

138,475

 

169,911

Comprehensive income attributable to noncontrolling interest

 

(2,158)

 

(2,843)

 

(4,699)

 

(7,162)

Comprehensive income attributable to common stockholders

$

62,363

$

64,778

$

133,776

$

162,749

See notes to consolidated financial statements.

4

Table of Contents

OMEGA HEALTHCARE INVESTORS, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

Unaudited

(in thousands, except per share amounts)

Common

Additional

Cumulative

Other

Total

Stock

Paid-in

Net

Cumulative

Comprehensive

Stockholders’

Noncontrolling

Total

    

Par Value

    

Capital

    

Earnings

    

Dividends

    

Loss

    

Equity

    

Interest

    

Equity

Balance at December 31, 2018 (202,346 common shares & 8,714 Omega OP Units)

$

20,235

$

5,074,544

$

2,130,511

$

(3,739,197)

$

(41,652)

$

3,444,441

$

320,043

$

3,764,484

Stock-based compensation expense

4,070

4,070

4,070

Vesting/exercising of equity compensation plan, net of tax withholdings (87 shares)

9

(2,288)

(2,279)

(2,279)

Dividend reinvestment and stock purchase plan (892 shares at an average of $36.19 per share)

89

32,196

32,285

32,285

Deferred compensation directors (9 shares at $33.95 per share)

53

53

53

Equity Shelf Program (2,221 shares at $34.46 per share, net of issuance costs)

222

76,325

76,547

76,547

Vesting/exercising of Omega OP Units (9 units)

(298)

(298)

298

Common dividends declared ($0.66 per share)

(136,687)

(136,687)

(136,687)

Conversion and redemption of Omega OP Units to common stock (1,446 shares at $38.92 per share)

145

56,112

56,257

(56,257)

Omega OP Units distributions

(7,013)

(7,013)

Noncontrolling interest - consolidated joint venture

228

228

Comprehensive income:

Foreign currency translation

4,321

4,321

154

4,475

Cash flow hedges

(2,610)

(2,610)

(93)

(2,703)

Net income

69,702

69,702

2,480

72,182

Total comprehensive income

73,954

Balance at March 31, 2019 (207,001 shares & 7,277 Omega OP Units)

20,700

5,240,714

2,200,213

(3,875,884)

(39,941)

3,545,802

259,840

3,805,642

Cumulative effect of accounting change

(8,198)

(8,198)

(292)

(8,490)

Balance at April 1, 2019 (207,001 common shares & 7,277 Omega OP Units)

20,700

5,240,714

2,192,015

(