v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real estate investments:    
Land and improvements $ 3,055,461 $ 2,962,738
Buildings and improvements 31,722,596 30,872,598
Construction in progress 361,384 358,811
Acquired lease intangibles 1,771,369 1,680,567
Operating lease assets 293,784 295,838
Gross real estate investments 37,204,594 36,170,552
Accumulated depreciation and amortization (12,346,970) (12,043,619)
Net real estate property 24,857,624 24,126,933
Secured loans receivable and investments, net 137,374 143,913
Investments in unconsolidated real estate entities 611,285 617,571
Net real estate investments 25,606,283 24,888,417
Cash and cash equivalents 183,613 741,067
Escrow deposits and restricted cash 17,677 45,070
Goodwill 1,045,774 1,046,072
Assets held for sale 13,530 42,993
Deferred income tax assets, net 2,668 2,797
Other assets 817,000 825,529
Total assets 27,686,545 27,591,945
Liabilities:    
Senior notes payable and other debt 12,518,493 13,011,016
Accrued interest payable 113,612 143,104
Operating lease liabilities 207,656 208,602
Accounts payable and other liabilities 1,241,949 1,240,820
Liabilities related to assets held for sale 1,529 4,032
Deferred income tax liabilities 26,726 23,409
Total liabilities 14,109,965 14,630,983
Redeemable OP unitholder and noncontrolling interests 394,578 375,154
Commitments and contingencies
Ventas stockholders’ equity:    
Preferred stock 0 0
Common stock 121,524 118,732
Capital in excess of par value 20,768,548 19,976,183
Accumulated other comprehensive loss (38,112) (39,851)
Retained earnings (deficit) (7,726,996) (7,527,777)
Treasury stock 0 (34)
Total Ventas stockholders’ equity 13,124,964 12,527,253
Noncontrolling interests 57,038 58,555
Total equity 13,182,002 12,585,808
Total liabilities and equity $ 27,686,545 $ 27,591,945