Item 6. Selected Financial Data

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Item 6. Selected Financial Data

Set forth below is our selected financial data as of and for each of the years in the five-year period ended December 31 (dollars in thousands, except per share data):



	Year Ended December 31,
	2019		2018		2017		2016		2015
Statement of operations data:
Total revenues	$	1,997,383	$	1,846,689	$	1,848,378	$	2,129,294	$	1,940,489
Income (loss) from continuing operations	60,061		1,073,474		422,634		374,171		152,668
Net income (loss) applicable to common shares	43,987		1,058,424		413,013		626,549		(560,552		)
Basic earnings per common share:
Continuing operations	0.09		2.25		0.88		0.77		0.30
Discontinued operations	—		—		—		0.57		(1.51		)
Net income (loss) applicable to common shares	0.09		2.25		0.88		1.34		(1.21		)
Diluted earnings per common share:
Continuing operations	0.09		2.24		0.88		0.77		0.30
Discontinued operations	—		—		—		0.57		(1.51		)
Net income (loss) applicable to common shares	0.09		2.24		0.88		1.34		(1.21		)
Balance sheet data:
Total assets	14,032,891		12,718,553		14,088,461		15,759,265		21,449,849
Debt obligations(1)	6,351,613		5,567,908		7,880,466		9,189,495		11,069,003
Total equity	6,667,474		6,512,591		5,594,938		5,941,308		9,746,317
Other data:
Dividends paid	720,123		696,913		694,955		979,542		1,046,638
Dividends paid per common share(2)	1.480		1.480		1.480		2.095		2.260
Funds from operations (“NAREIT FFO”)(3)	780,307		780,189		661,113		1,119,153		(10,841		)
Diluted NAREIT FFO per common share(3)	1.59		1.66		1.41		2.39		(0.02		)
FFO as Adjusted(3)	864,352		857,233		918,402		1,282,390		1,470,167
Diluted FFO as Adjusted per common share(3)	1.76		1.82		1.95		2.74		3.16
Funds available for distribution (“FAD”)(3)	745,820		746,397		803,720		1,215,696		1,261,849

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(1)	Includes bank line of credit, commercial paper, term loans, senior unsecured notes, mortgage debt and other debt. Excludes mortgage debt on assets held for sale.


(2)	Represents cash dividends. Additionally, in October 2016 we issued $6.17 per common share of stock dividends related to the spin-off of Quality Care Properties, Inc.


(3)	For a more detailed discussion and reconciliation of NAREIT FFO, FFO as Adjusted and FAD, see "Results of Operations" and “Non-GAAP Financial Measure Reconciliations” in Item 7 of this report.

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