| Schedule of results of operations from discontinued operations |
Results of operations from discontinued operations were as follows:
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Year Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
Interest income |
$ |
— |
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|
$ |
— |
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|
$ |
15,098 |
|
Interest expense |
— |
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|
(49,705 |
) |
|
(12,372 |
) |
Net interest income (expense) |
— |
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|
(49,705 |
) |
|
2,726 |
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Operating Revenues |
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|
|
|
|
Media income |
— |
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|
68,212 |
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|
61,637 |
|
Rental income |
556 |
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|
194,729 |
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|
74,936 |
|
Care and ancillary income |
— |
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|
20,428 |
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|
12,387 |
|
Total operating revenues |
556 |
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|
283,369 |
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|
148,960 |
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Other Income |
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Other income (loss) |
— |
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|
1,444 |
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(2,404 |
) |
Gain on settlement of investments |
318 |
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— |
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— |
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Change in fair value of investments in excess mortgage servicing rights |
— |
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— |
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3,894 |
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Change in fair value of investments in equity method investees |
— |
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— |
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4,924 |
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Earnings from investments in equity method investees |
— |
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— |
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16,117 |
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Total other income |
318 |
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|
1,444 |
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22,531 |
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Expenses |
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Property operating expenses |
187 |
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|
152,896 |
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|
53,733 |
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Media operating expenses |
— |
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|
— |
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|
49,092 |
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General and administrative expense (A) |
30 |
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|
20,096 |
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|
21,742 |
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Depreciation and amortization |
11 |
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|
90,627 |
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|
30,969 |
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Management fee to affiliate |
— |
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|
7,789 |
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|
5,034 |
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Income tax expense (benefit) |
— |
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(1,111 |
) |
|
2,100 |
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Total expenses |
228 |
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|
270,297 |
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|
162,670 |
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Income (loss) from discontinued operations, net of tax |
$ |
646 |
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|
$ |
(35,189 |
) |
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$ |
11,547 |
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(A) |
Includes acquisition and spin-off related expenses of $0.0 million, $15.8 million and $13.3 million for the years ended December 31, 2015, 2014 and 2013, respectively.
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