$WELL
HEALTH CARE REIT INC /DE/
CIK:0000766704|SEC Filings
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Revenues: | |||||||||||||
| Resident fees and services | $ 2,984,891 | $ 1,971,044 | $ 5,765,822 | $ 3,835,574 | |||||||||
| Rental income | 459,740 | 483,040 | 913,582 | 944,607 | |||||||||
| Interest income | 77,369 | 62,057 | 148,298 | 124,547 | |||||||||
| Other income | 22,586 | 32,103 | 68,810 | 66,603 | |||||||||
| Total revenues | 3,544,586 | 2,548,244 | 6,896,512 | 4,971,331 | |||||||||
| Expenses: | |||||||||||||
| Property operating expenses | 2,150,123 | 1,514,711 | 4,205,543 | 2,977,101 | |||||||||
| Depreciation and amortization | 737,764 | 495,036 | 1,360,516 | 980,905 | |||||||||
| Interest expense | 181,914 | 141,157 | 374,629 | 286,119 | |||||||||
| General and administrative expenses | 67,486 | 64,175 | 134,960 | 127,933 | |||||||||
| Loss (gain) on derivatives and financial instruments, net | 0 | (409) | 0 | (3,619) | |||||||||
| Loss (gain) on extinguishment of debt, net | 1,984 | 0 | 2,711 | 6,156 | |||||||||
| Provision for loan losses, net | 2,183 | (1,113) | 3,815 | (3,120) | |||||||||
| Impairment of assets | 25,774 | 19,876 | 30,600 | 72,278 | |||||||||
| Other expenses | 56,930 | 16,598 | 118,067 | 30,658 | |||||||||
| Total expenses | 3,224,158 | 2,250,031 | 6,230,841 | 4,474,411 | |||||||||
| Income (loss) from continuing operations before income taxes and other items | 320,428 | 298,213 | 665,671 | 496,920 | |||||||||
| Income tax (expense) benefit | 61,979 | (1,053) | 50,346 | 4,466 | |||||||||
| Income (loss) from unconsolidated entities | (17,969) | (7,392) | (19,655) | (6,129) | |||||||||
| Gain (loss) on real estate dispositions and acquisitions of controlling interests, net | 98,537 | 14,850 | 518,937 | 66,627 | |||||||||
| Income (loss) from continuing operations | 462,975 | 304,618 | 1,215,299 | 561,884 | |||||||||
| Net income (loss) | 462,975 | 304,618 | 1,215,299 | 561,884 | |||||||||
| Less: Net income (loss) attributable to noncontrolling interests | [1] | 17,973 | 2,730 | 41,625 | 2,039 | ||||||||
| Net income (loss) attributable to common stockholders | $ 445,002 | $ 301,888 | $ 1,173,674 | $ 559,845 | |||||||||
| Weighted average number of common shares outstanding: | |||||||||||||
| Basic (in shares) | 709,732 | 656,593 | 704,812 | 650,029 | |||||||||
| Diluted (in shares) | 737,956 | 668,140 | 732,137 | 661,004 | |||||||||
| Basic: | |||||||||||||
| Income (loss) from continuing operations (in dollars per share) | $ 0.65 | $ 0.46 | $ 1.72 | $ 0.86 | |||||||||
| Net income (loss) attributable to common stockholders (in dollars per share) | 0.63 | 0.46 | 1.67 | 0.86 | |||||||||
| Diluted: | |||||||||||||
| Income (loss) from continuing operations (in dollars per share) | 0.63 | 0.46 | 1.66 | 0.85 | |||||||||
| Net income (loss) attributable to common stockholders (in dollars per share) | 0.61 | [2] | 0.45 | [2] | 1.63 | 0.85 | [2] | ||||||
| Dividends declared and paid per common share (in dollars per share) | $ 0.74 | $ 0.67 | $ 1.48 | $ 1.34 | |||||||||
| Net income (loss) | $ 462,975 | $ 304,618 | $ 1,215,299 | $ 561,884 | |||||||||
| Other comprehensive income (loss): | |||||||||||||
| Foreign currency translation gain (loss) | (11,790) | 560,442 | (391,001) | 728,979 | |||||||||
| Derivative and financial instruments designated as hedges gain (loss) | (69,956) | (413,839) | 252,075 | (532,130) | |||||||||
| Total other comprehensive income (loss) | (81,746) | 146,603 | (138,926) | 196,849 | |||||||||
| Total comprehensive income (loss) | 381,229 | 451,221 | 1,076,373 | 758,733 | |||||||||
| Less: Total comprehensive income (loss) attributable to noncontrolling interests | [3] | 15,407 | 5,711 | 36,704 | 5,082 | ||||||||
| Total comprehensive income (loss) attributable to common stockholders | $ 365,822 | $ 445,510 | $ 1,039,669 | $ 753,651 | |||||||||
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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
[1] | ||
|---|---|---|---|---|---|
| Real property owned: | |||||
| Land and land improvements | $ 7,235,877 | $ 6,681,131 | |||
| Buildings and improvements | 57,960,485 | 52,058,099 | |||
| Acquired lease intangibles | 3,167,918 | 2,845,686 | |||
| Real property held for sale, net of accumulated depreciation | 374,477 | 1,450,137 | |||
| Construction in progress | 848,347 | 738,859 | |||
| Less accumulated depreciation and amortization | (11,533,470) | (10,350,621) | |||
| Net real property owned | 58,053,634 | 53,423,291 | |||
| Right of use assets, net | 1,959,414 | 2,158,045 | |||
| Investments in sales-type leases, net | 0 | 497,963 | |||
| Real estate loans receivable, net of credit allowance | 2,952,709 | 1,831,210 | |||
| Net real estate investments | 62,965,757 | 57,910,509 | |||
| Other assets: | |||||
| Investments in unconsolidated entities | 2,001,632 | 1,809,590 | |||
| Cash and cash equivalents | 1,965,164 | 5,033,678 | |||
| Restricted cash | 132,000 | 175,861 | |||
| Receivables and other assets | 2,810,627 | 2,373,409 | |||
| Total other assets | 6,909,423 | 9,392,538 | |||
| Total assets | 69,875,180 | 67,303,047 | |||
| Liabilities: | |||||
| Unsecured credit facility and commercial paper | 0 | 0 | |||
| Senior unsecured notes | 14,295,101 | 16,383,522 | |||
| Secured debt | 3,431,152 | 2,813,780 | |||
| Lease liabilities | 1,994,551 | 2,182,993 | |||
| Accrued expenses and other liabilities | 2,490,804 | 2,719,813 | |||
| Total liabilities | 22,211,608 | 24,100,108 | |||
| Redeemable noncontrolling interests | 224,538 | 263,223 | |||
| Equity: | |||||
| Common stock | 719,068 | 696,621 | |||
| Capital in excess of par value | 55,180,367 | 50,898,707 | |||
| Treasury stock | (25,961) | (14,405) | |||
| Cumulative net income | 12,207,243 | 11,033,569 | |||
| Cumulative dividends | (21,244,723) | (20,197,353) | |||
| Accumulated other comprehensive income (loss) | (421,646) | (287,641) | |||
| Total Welltower Inc. stockholders’ equity | 46,414,348 | 42,129,498 | |||
| Noncontrolling interests | 1,024,686 | 810,218 | |||
| Total equity | 47,439,034 | 42,939,716 | |||
| Total liabilities and equity | $ 69,875,180 | $ 67,303,047 | |||
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