OMEGA HEALTHCARE INVESTORS INC

For the period ended Dec 31, 2023. Filed Feb 12, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 12, 2024

OHI$48.70-0.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Schedule III – Real Estate and Accumulated Depreciation


· · · · · · · · · · · · · · · · · Gross Amount at · · · · · · · · ·
· · Initial Cost to · · Cost Capitalized · · Which Carried at · · · · · · · · · Life on Which
· · Company · · Subsequent to · · Close of Period (3) (5) · · · · · · · · · Depreciation
							Acquisition								(4)				(7)		in Latest
					Buildings and				Carrying	(6)	(8)		Buildings and				Accumulated		Date of		Date	Income Statements
Description (1)	Encumbrances	Land		Improvements		Improvements	Cost		Other	Land	Improvements		Total	Depreciation		Construction		Acquired		is Computed
Alabama (SNF)			$1,817			$33,356		$13,188		$—		$—		$1,817			$46,544			$48,361		$(41,931)	1960 - 1982	1992 - 1997	31 years - 33 years
Arizona (ALF, ILF, SNF)			11,502			121,240		3,979		—		—		11,502			125,219			136,721		(35,725)	1949 - 1999	2005 - 2021	25 years - 40 years
Arkansas (ALF, SNF)			2,665			48,765		4,911		—		(36)		2,665			53,640			56,305		(32,171)	1967 - 1988	1992 - 2014	25 years - 31 years
California (ALF, SNF, SF)			81,970			464,633		7,009		—		(479)		81,970			471,163			553,133		(160,428)	1938 - 2013	1997 - 2021	5 years - 35 years
Colorado (ILF, SNF)			11,283			88,830		8,188		—		—		11,283			97,018			108,301		(53,730)	1925 - 1975	1998 - 2016	20 years - 39 years
Connecticut (ALF)			25,063			252,417		9,095		1,320		—		25,063			262,832			287,895		(74,865)	1968 - 2019	2010 - 2017	30 years - 33 years
Florida (ALF, ILF, SNF)			59,622			432,694		20,291		—		(20,782)		58,682			433,143			491,825		(200,474)	1942 - 2018	1993 - 2021	2 years - 39 years
Georgia (ALF, SNF)			3,740			47,689		1,637		—		—		3,740			49,326			53,066		(17,889)	1967 - 1997	1998 - 2016	30 years - 40 years
Idaho (SNF)			5,735			47,530		1,892		—		(542)		5,193			49,422			54,615		(23,458)	1920 - 2008	1997 - 2014	25 years - 39 years
Illinois (ALF)			1,830			13,967		1,548		—		—		1,830			15,515			17,345		(2,239)	1999	2021	25 years
Indiana (ALF, ILF, SNF, SF)			48,267			584,258		13,410		—		(7,453)		48,173			590,309			638,482		(221,420)	1942 - 2015	1992 - 2020	20 years - 40 years
Iowa (ALF, SNF)			2,343			59,310		—		—		—		2,343			59,310			61,653		(23,022)	1961 - 1998	2010 - 2014	23 years - 33 years
Kansas (SNF)			4,092			38,693		14,219		—		—		4,092			52,912			57,004		(28,049)	1957 - 1977	2005 - 2011	25 years
Kentucky (ALF, SNF)			15,556			130,819		7,517		—		—		15,556			138,336			153,892		(59,012)	1964 - 2002	1999 - 2016	20 years - 33 years
Louisiana (ALF, SNF)			6,735			113,957		4,877		448		(2,669)		6,735			116,613			123,348		(33,181)	1957 - 2020	1997 - 2023	22 years - 39 years
Maryland (SNF)			17,526			131,741		5,800		—		—		17,526			137,541			155,067		(41,752)	1921 - 2016	2008 - 2023	25 years - 30 years
Massachusetts (ALF, SNF)			23,621			143,172		23,023		—		(693)		23,621			165,502			189,123		(69,925)	1964 - 2017	1997 - 2014	20 years - 33 years
Michigan (ALF, SNF)			380			16,120		—		—		—		380			16,120			16,500		(8,428)	1964 - 1973	2011	25 years
Minnesota (ALF, ILF, SNF)			10,502			52,585		5,972		—		—		10,502			58,557			69,059		(23,558)	1966 - 1983	2014	33 years
Mississippi (SNF)	(2)		8,803			191,448		827		—		—		8,803			192,275			201,078		(51,150)	1965 - 2008	2009 - 2019	20 years - 30 years
Missouri (SNF)			608			11,694		—		—		(158)		599			11,545			12,144		(8,733)	1965 - 1989	1999	33 years
Montana (SNF)			1,319			11,698		432		—		—		1,319			12,130			13,449		(4,098)	1963 - 1971	2005	33 years
Nebraska (SNF)			750			14,892		—		—		—		750			14,892			15,642		(6,180)	1966 - 1969	2012 - 2015	20 years - 33 years
Nevada (SNF, SF)			8,811			92,797		8,350		—		—		8,811			101,147			109,958		(37,829)	1972 - 2012	2009 - 2017	25 years - 33 years
New Hampshire (ALF, SNF)			1,782			19,837		1,463		—		—		1,782			21,300			23,082		(12,449)	1963 - 1999	1998 - 2006	33 years - 39 years
New Jersey (ALF)			12,953			58,199		1,786		1,559		—		12,953			61,544			74,497		(7,166)	1999 - 2021	2019 - 2021	25 years
New Mexico (SNF)			6,008			45,285		1,318		—		—		6,008			46,603			52,611		(15,369)	1960 - 1985	2005	33 years
New York (ALF)			118,606			176,921		2,806		40,543		(5,900)		118,606			214,370			332,976		(32,290)	2020	2015	25 years
North Carolina (ALF, SNF)	(2)		28,837			361,350		9,709		336		(874)		28,677			370,681			399,358		(117,840)	1964 - 2019	1994 - 2022	25 years - 36 years
Ohio (ALF, SNF, SF)			29,026			368,488		18,683		345		(67,207)		28,776			320,559			349,335		(96,957)	1955 - 2021	1994 - 2020	25 years - 39 years
Oklahoma (SNF)			2,296			19,934		—		—		—		2,296			19,934			22,230		(11,648)	1965 - 1993	2010 - 2013	20 years - 33 years
Oregon (ALF, ILF, SNF)			8,602			135,140		11,072		—		—		8,602			146,212			154,814		(30,980)	1959 - 2007	2005 - 2022	25 years - 33 years
Pennsylvania (ALF, ILF, SNF)			26,980			362,231		18,848		—		(19,006)		26,975			362,078			389,053		(126,906)	1873 - 2012	2004 - 2022	20 years - 39 years
Rhode Island (SNF)			3,299			23,487		3,805		—		—		3,299			27,292			30,591		(16,601)	1965 - 1981	2006	39 years
South Carolina (SNF)			8,480			76,912		2,860		—		—		8,480			79,772			88,252		(30,203)	1959 - 2007	2014 - 2016	20 years - 33 years
Tennessee (ALF, SNF, SF)			12,976			268,846		8,012		—		—		12,976			276,858			289,834		(118,847)	1968 - 2018	1992 - 2021	20 years - 31 years
Texas (ALF, ILF, MOB, SNF, SF)			74,596			784,235		41,360		197		(15,662)		73,176			811,550			884,726		(264,306)	1949 - 2019	1997 - 2021	20 years - 40 years
United Kingdom (ALF)			134,925			522,979		18,652		—		(44,470)		128,056			504,030			632,086		(105,698)	1650 - 2012	2015 - 2023	25 years - 30 years
Vermont (SNF)			318			6,005		602		—		—		318			6,607			6,925		(3,596)	1971	2004	39 years
Virginia (ALF, SNF)			35,653			381,065		11,583		—		(579)		35,479			392,243			427,722		(101,270)	1964 - 2017	2010 - 2023	25 years - 40 years
Washington (ALF, SNF)			14,565			184,114		6,385		—		(2)		14,563			190,499			205,062		(50,339)	1951 - 2004	1999 - 2021	25 years - 33 years
Washington DC (ALF)			68,017			—		59,729		8,220		—		68,017			67,949			135,966		—	N/A	2021	N/A
West Virginia (SNF)			3,333			194,130		7,062		—		—		3,333			201,192			204,525		(53,588)	1961 - 2016	1994 - 2023	25 years - 39 years
Wisconsin (SNF)			399			4,581		2,153		—		—		399			6,734			7,133		(3,509)	1974	2005	33 years
Total			$946,191			$7,138,044		$384,053		$52,968		$(186,512)		$935,726			$7,399,018			$8,334,744		$(2,458,809)

(1)

The real estate included in this schedule is being used in either the operation of skilled nursing facilities (“SNF”), assisted living facilities (“ALF”), independent living facilities (“ILF”), specialty facilities (“SF”) (consisting of specialty hospitals, long-term acute care hospitals, independent rehabilitation facilities, behavioral health substance facilities, behavioral health psychology facilities and traumatic brain injury facilities) or medical office buildings (“MOB”), located in the states or country indicated.

(2)	Certain of the real estate indicated are security for the HUD loan borrowings totaling $41.9 million at December 31, 2023.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION — continued

(3)

· · · · · · · · ·
· · Year Ended December 31,
· 2023 · 2022 · 2021
Balance at beginning of period	$8,860,264	$9,028,745	$8,702,154
Acquisitions (a)	262,453	225,336	742,486
Impairment	(89,985)	(38,451)	(44,673)
Improvements	87,760	60,931	60,953
Disposals/other	(785,748)	(416,297)	(432,175)
Balance at close of period	$8,334,744	$8,860,264	$9,028,745

(a)	Includes approximately $8.2 million and $58.6 million of non-cash consideration exchanged and/or valuation adjustments during the years ended December 31, 2022 and 2021, respectively.

(4)

· · · · · · · · ·
· · Year Ended December 31,
· 2023 · 2022 · 2021
Balance at beginning of period	$2,322,773	$2,181,528	$1,996,914
Provisions for depreciation	317,536	331,963	341,497
Dispositions/other	(181,500)	(190,718)	(156,883)
Balance at close of period	$2,458,809	$2,322,773	$2,181,528

(5) The reported amount of our real estate at December 31, 2023 is greater than the tax basis of the real estate by approximately $432.1 million (unaudited).

(6) Reflects bed sales, impairments (including the write-off of accumulated depreciation), land easements and impacts from foreign currency exchange rates.

(7) To the extent that we acquired an entity previously owning the underlying facility, the acquisition date reflects the date that the entity acquired the facility.

(8) Includes $68.9 million of construction in progress related to land, all other amounts related to construction in progress are reflected in buildings and improvements.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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