| Schedule of carrying value of assets and liabilities immediately preceding the spin-off |
The following table presents the carrying value of the assets and liabilities of New Media, immediately preceding the February 13, 2014 spin-off.
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February 13, 2014
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Assets
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Property, plant and equipment, net
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$
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266,385
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Intangibles, net
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144,664
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Goodwill
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126,686
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Cash and cash equivalents
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23,845
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Restricted cash
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6,477
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Receivables and other assets
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101,940
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Total Assets
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$
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669,997
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Liabilities
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Credit facilities - media
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$
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177,955
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Accounts payable, accrued expenses and other liabilities
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100,695
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Total Liabilities
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$
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278,650
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Net Assets
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$
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391,347
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The following table presents the carrying value of the assets and liabilities of New Senior, immediately preceding the November 6, 2014 spin-off.
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November 6, 2014
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Assets
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Investment in senior housing real estate, net
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$
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1,574,048
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Intangibles, net
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107,658
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Cash and cash equivalents
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245,246
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Receivables and other assets
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95,942
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Total Assets
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$
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2,022,894
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Liabilities
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Mortgage notes payable
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$
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1,260,633
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Accounts payable, accrued expenses and other liabilities
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89,245
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Total Liabilities
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$
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1,349,878
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Net Assets
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$
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673,016
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| Schedule of results of operations from discontinued operations |
Results from discontinued operations were as follows:
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Three Months Ended
March 31,
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2015
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2014
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Interest income
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$
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—
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$
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—
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Interest expense
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—
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15,797
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Net interest income (loss)
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—
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(15,797
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)
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Media income
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—
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68,213
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Rental income
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499
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52,890
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Care and ancillary income
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—
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5,461
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Total media, rental and other income
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499
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126,564
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Media operating expenses
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—
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65,826
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Property operating expenses
|
344
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25,960
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General and administrative expenses
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29
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7,552
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Depreciation and amortization
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11
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27,488
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Income tax (benefit) expense
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—
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(760
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)
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Total expenses
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384
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126,066
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Income (loss) from discontinued operations
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$
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115
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$
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(15,299
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)
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Net income attributable to noncontrolling interests
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$
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—
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$
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522
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