Form 8-K

8-K — Ventas, Inc.

Accession: 0000740260-26-000022

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0000740260

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — vtr-20260729.htm (Primary)

EX-99.1 (q22026earningsrelease.htm)

GRAPHIC (ventas-logox2colorxlightbg.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: vtr-20260729.htm · Sequence: 1

vtr-20260729

0000740260FALSE300 North LaSalle Street, Suite 1600ChicagoIllinois00007402602026-07-292026-07-2900007402602025-10-292025-10-290000740260exch:XNYS2026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

Ventas, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-10989 61-1055020

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

300 North LaSalle Street, Suite 1600, Chicago, Illinois

60654

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (877) 483-6827

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, $0.25 par value VTR New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 29, 2026, Ventas, Inc. (the “Company”) issued a press release announcing its results of operations for the quarter ended June 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated into this Item 2.02 by reference.

The information in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” with the U.S. Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

Exhibit Number

Description

99.1

Press release issued by the Company on July 29, 2026.

104 Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

VENTAS, INC.

Date: July 29, 2026

By: /s/ Kevin M. Bohl

Kevin M. Bohl

Senior Vice President and Interim General Counsel, Ethics and Compliance Officer and Corporate Secretary

EX-99.1

Filename: q22026earningsrelease.htm · Sequence: 2

Document

Exhibit 99.1

Ventas, Inc. 300 North LaSalle Street, Suite 1600 Chicago, Illinois 60654 (877) 4-VENTAS www.ventasreit.com

Contact: BJ Grant

(877) 4-VENTAS

Ventas Reports 2026 Second Quarter Results

CHICAGO – Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) today reported results for the second quarter ended June 30, 2026.

CEO Remarks

“Ventas’s momentum continued in the second quarter. We delivered strong enterprise results, executing on our strategy to capture the unprecedented opportunity in senior housing through powerful organic and external growth in our Senior Housing Operating Portfolio,” said Debra A. Cafaro, Ventas Chairman and CEO. “Demographic demand is strong and getting stronger as the baby boomers begin turning 80 this year. Meanwhile, new supply remains at historic lows, setting up a compelling multiyear runway for growth and value creation.

“Our portfolio and platform are built to meet this moment, and we continue to expand our senior housing footprint,” Cafaro continued. “We are increasing our 2026 investment volume expectations to $4.5 billion, after completing over $3 billion of attractive U.S. senior housing investments year to date and growing our active, actionable investment pipeline. Our differentiated platform, experience, industry relationships and scale are competitive advantages driving Ventas’s outperformance and elevating our industry to better serve a large and growing aging population.

“We are again raising our full year earnings guidance primarily because of our increased investment activity. The Ventas team remains focused on winning together and delivering for our stakeholders as we enable exceptional environments that help people live longer, healthier, happier lives,” Cafaro concluded.

Second Quarter and Other 2026 Highlights

•Net Income Attributable to Common Stockholders (“Attributable Net Income”) per share of $0.14

•Normalized Funds From Operations* (“Normalized FFO”) per share of $0.97, an increase of 9% year-over-year

•Total Company Net Operating Income* (“NOI”) year-over-year growth of 17% and Total Company Same-Store Cash NOI* year-over-year growth of 10%

•On a Same-Store Cash NOI* basis, the senior housing operating portfolio (“SHOP”) grew 16% year-over-year, with Same-Store Cash Operating Revenue* growth of 9% and Same-Store Cash NOI margin* growth of 210 basis points

•Year to date, the Company closed $3.4 billion of investments focused on senior housing with attractive financial return expectations, consistent with its Right Market, Right Asset, Right OperatorTM strategy

•To fund its 2026 investment activity, the Company settled 31.4 million shares of common stock under equity forward sales agreements year to date for gross proceeds of $2.6 billion, and currently has $1.6 billion of unsettled equity forward sales agreements, totaling $4.2 billion in equity capital

*Some of the financial measures throughout this press release are non-GAAP measures. Refer to the Non-GAAP Financial Measures Reconciliation tables at the end of this press release for additional information and a reconciliation to the most directly comparable GAAP measure.

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 2

Second Quarter 2026 Company Results

For the Second Quarter 2026, reported per share results were:

Quarter Ended June 30,

2026 2025 $ Change % Change

Attributable Net Income $0.14 $0.15 ($0.01) (7%)

Nareit FFO* $0.99 $0.86 $0.13 15%

Normalized FFO* $0.97 $0.89

$0.08

SHOP Growth

In the second quarter, SHOP Same-Store Cash NOI increased 16% year-over-year, led by Same-Store Cash Operating Revenue growth of 9% and 210 basis points of Same-Store Cash NOI margin expansion. Same-Store Cash Operating Revenue growth of 9% included revenue per occupied room (“RevPOR”) growth of 5% and average occupancy growth of 300 basis points year-over-year.

U.S. SHOP Same-Store Cash NOI increased 18% year-over-year and average occupancy grew 360 basis points year-over-year.

Investment Activity

Ventas closed $2.2 billion of investments focused on senior housing in the second quarter and $3.4 billion year to date. The Company expects these investments to increase its growth rate on a multiyear basis and generate attractive financial returns.

The Company is increasing its investment volume expectations for 2026 to $4.5 billion of investments focused on senior housing, up from the prior guidance of $3 billion.

Financial Strength and Flexibility

The Company’s Net Debt-to-Further Adjusted EBITDA* strengthened to 4.7x as of the end of the second quarter, representing nearly a full turn improvement from the prior year. The improvement was driven by SHOP NOI growth and equity-funded senior housing investments.

As of June 30, 2026, the Company had $4.9 billion in liquidity, supporting Ventas’s growth and financial flexibility. Liquidity includes availability under its unsecured credit facilities, cash and cash equivalents and unsettled equity forward sales agreements outstanding.

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 3

Increased Full Year 2026 Guidance

The Company is increasing its guidance for the full year. The Company’s 2026 guidance contains forward-looking statements and is based on a number of assumptions, including those identified later in this press release; actual results may differ materially. Ventas expects to report 2026 per share Attributable Net Income, Nareit FFO and Normalized FFO within the following ranges:

As of 4/27/26 As of 7/29/26

Attributable Net Income Per Share Range $0.56 - $0.63 $0.58 - $0.63

Attributable Net Income Per Share Midpoint $0.60 $0.61

Nareit FFO Per Share Range* $3.69 - $3.76 $3.76 - $3.81

Nareit FFO Per Share Midpoint* $3.73 $3.79

Normalized FFO Per Share Range*

$3.82 - $3.89 $3.85 - $3.90

Normalized FFO Per Share Midpoint*

$3.86 $3.88

Full Year 2026 Guidance Commentary Update

The increase in the Company’s guidance is primarily the result of increased accretive senior housing investment activity. Certain additional assumptions are set forth in the appendix.

Investor Presentation

An Earnings Presentation is posted to the Events & Presentations section of Ventas’s website at ir.ventasreit.com/events-and-presentations. Additional information regarding the Company can be found in its Supplemental posted at ir.ventasreit.com. The information contained on, or that may be accessed through, the Company’s website, including the information contained in the aforementioned Earnings Presentation and Supplemental, is not incorporated by reference into, and is not part of, this document.

Second Quarter 2026 Results Conference Call

Ventas will hold a conference call to discuss this earnings release on Thursday, July 30, 2026 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time).

The dial-in number for the conference call is (888) 330-3576 (or +1 (646) 960-0672 for international callers), and the participant passcode is 7655497. A live webcast can be accessed from the Investor Relations section of www.ventasreit.com.

A telephonic replay will be available at (800) 770-2030 (or +1 (609) 800-9909 for international callers), passcode 7655497, after the earnings call and will remain available for 30 days. The webcast replay will be posted in the Investor Relations section of www.ventasreit.com.

About Ventas

Ventas, Inc. (NYSE: VTR) is an S&P 500 company enabling exceptional environments that benefit a large and growing aging population. With approximately 1,450 properties in North America and the United Kingdom, Ventas occupies an essential role in the longevity economy. The Company’s growth is fueled by its more than 900 senior housing communities, which provide valuable services to residents and enable them to thrive in supported environments. Ventas aims to deliver outsized performance by leveraging its operational expertise, data-driven insights from its Ventas OITM platform, extensive relationships and strong financial position. The Ventas portfolio also includes outpatient medical buildings, research centers and healthcare facilities. Ventas’s seasoned team of talented professionals shares a commitment to excellence, integrity and a common purpose of helping people live longer, healthier, happier lives.

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 4

Non-GAAP Financial Measures

This press release of Ventas, Inc. (the “Company,” “we,” “us,” “our” and similar terms) includes certain financial performance measures not defined by generally accepted accounting principles in the United States (“GAAP”), such as Nareit FFO, Normalized FFO, Net Operating Income (“NOI”), Same-Store Cash NOI, Same-Store Cash NOI Growth, Same-Store Cash NOI Margin, Cash Operating Revenue and Net Debt to Further Adjusted EBITDA. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in the appendix to this press release. Our definitions and calculations of these non-GAAP measures may not be the same as similar measures reported by other REITs.

These non-GAAP financial measures should not be considered as alternatives for, or superior to, financial measures calculated in accordance with GAAP.

Cautionary Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. Forward-looking statements include, among other things, statements regarding our and our officers’ intent, belief or expectation as identified by the use of phrases or words such as “assume,” “may,” “will,” “project,” “expect,” “believe,” “intend,” “anticipate,” “seek,” “target,” “forecast,” “plan,” “line-of-sight,” “outlook,” “potential,” “opportunity,” “estimate,” “could,” “would,” “should” and other comparable and derivative terms or the negatives thereof.

Forward-looking statements are based on management’s beliefs as well as on a number of assumptions concerning future events. You should not put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update these forward-looking statements, which speak only as of the date on which they are made. We urge you to carefully review the disclosures we make concerning risks and uncertainties that may affect our business and future financial performance, including those made below and in our filings with the Securities and Exchange Commission, such as in the sections titled “Cautionary Statements — Summary Risk Factors” and “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our subsequent Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K as we file them with the Securities and Exchange Commission.

Certain factors that could affect our future results and our ability to achieve our stated goals include, but are not limited to: (a) our exposure and the exposure of our managers, tenants and borrowers to complex and evolving governmental policy, laws and regulations, including relating to healthcare, data privacy, cybersecurity, artificial intelligence, international trade and environmental matters, the impact of such policies, laws and regulations on our and our managers’, tenants’ and borrowers’ business and the challenges and expense associated with complying with such policies, laws and regulations; (b) the impact of market, macroeconomic and general economic conditions on us, our managers, tenants and borrowers and in areas in which our properties are geographically concentrated, including changes in or elevated inflation, interest rates and exchange rates, labor market dynamics and rises in unemployment, tightening of lending standards and reduced availability of credit or capital, events that affect consumer confidence, and the actual and perceived state of the real estate markets and public and private capital markets; (c) our ability, and the ability of our managers, tenants and borrowers, to navigate the trends impacting our or their businesses and the industries in which we or they operate, including their ability to respond to the impact of the U.S. political environment on government funding and reimbursement programs, and the financial condition or business prospect of our managers, tenants and borrowers; (d) our ability to achieve the anticipated benefits and synergies from, and effectively integrate, our completed or anticipated acquisitions and investments; (e) our ability to identify and consummate future investments in healthcare assets and effectively manage our portfolio opportunities and our investments in co-investment vehicles, joint ventures and minority interests; (f) the potential for significant general and commercial claims, legal actions, investigations, regulatory proceedings and enforcement actions that could subject us or our managers, tenants or borrowers to increased operating costs, uninsured liabilities, including fines and other penalties, reputational harm or significant operational limitations, including the loss or suspension of or moratoriums on accreditations, licenses or certificates of need, suspension of or

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 5

nonpayment for new admissions, denial of reimbursement, suspension, decertification or exclusion from federal, state or foreign healthcare programs or the closure of facilities or communities; (g) our reliance on third-party managers and tenants to operate or exert substantial control over properties they manage for, or lease from, us, which limits our control and influence over such properties, their operations and their performance; (h) our reliance and the reliance of our managers, tenants and borrowers on the financial, credit and capital markets and the risk that those markets may be disrupted or become constrained; (i) the risk of bankruptcy, inability to obtain benefits from governmental programs, insolvency or financial deterioration of our managers, tenants, borrowers and other obligors which may, among other things, have an adverse impact on the ability of such parties to make payments or meet their other obligations to us; (j) our dependency on a limited number of managers and tenants for a significant portion of our revenues and operating income; (k) our exposure to various operational risks, liabilities and claims from our operating assets; (l) our exposure to particular risks due to our specific asset classes and operating markets, such as adverse changes affecting our specific asset classes and the healthcare real estate sector, the competitiveness or financial viability of hospitals on or near the campuses where our outpatient medical buildings are located, our relationships with universities, the level of expense and uncertainty of our research tenants, and the limitation of our uses of some properties we own that are subject to ground lease, air rights or other restrictive agreements; (m) our ownership of properties or operation of business outside of the U.S. that may subject us to different or greater risks than those associated with our domestic operations; (n) the risk that our management agreements or leases are not renewed or are renewed on less favorable terms, that our managers or tenants default under those agreements or that we are unable to replace managers or tenants on a timely basis or on favorable terms, if at all; (o) the risk that the borrowers under our loans or other investments default or that, to the extent we are able to foreclose or otherwise acquire the collateral securing our loans or other investments, we will be required to incur additional expense or indebtedness in connection therewith, that the assets will underperform expectations or that we may not be able to subsequently dispose of all or part of such assets on favorable terms; (p) risks related to the recognition of reserves, allowances, credit losses or impairment charges which are inherently uncertain and may increase or decrease in the future and may not represent or reflect the ultimate value of, or loss that we ultimately realize with respect to, the relevant assets; (q) the risk of exposure to unknown liabilities from our investments in properties or businesses; (r) the impact of merger, acquisition and investment activity in the healthcare industry or otherwise affecting our managers, tenants or borrowers; (s) risks related to development, redevelopment and construction projects, including costs associated with inflation, rising or elevated interest rates, labor conditions and supply chain pressures, and risks related to increased construction and development in markets in which our properties are located, including adverse effect on our future occupancy rates; (t) our current and future amount of outstanding indebtedness, and our ability to access capital and to incur additional debt which is subject to our compliance with covenants in instruments governing our and our subsidiaries’ existing indebtedness; (u) increases in our borrowing costs as a result of becoming more leveraged, including in connection with acquisitions or other investment activity and rising or elevated interest rates; (v) the risk of potential dilution resulting from future sales or issuances of our equity securities; (w) the availability, adequacy and pricing of insurance coverage provided by our policies and policies maintained by our managers, tenants, borrowers or other counterparties; (x) the risks or uncertainties relating to the use of, or inability to take advantage of, the benefits of artificial intelligence by us or our managers, tenants or borrowers; (y) the occurrence of cybersecurity threats and incidents that could disrupt our or our managers’, tenants’ or borrower’s operations, result in the loss of confidential or personal information or damage our business relationships and reputation; (z) the risk of catastrophic or extreme weather and other natural events; (aa) our ability to attract and retain talented employees; (bb) our ability to maintain a positive reputation for quality and service with our key stakeholders; (cc) the limitations and significant requirements imposed upon our business as a result of our status as a REIT and the adverse consequences (including the possible loss of our status as a REIT) that would result if we are not able to comply with such requirements; (dd) the ownership limits contained in our certificate of incorporation with respect to our capital stock in order to preserve our qualification as a REIT, which may delay, defer or prevent a change of control of our company; and (ee) the other factors set forth in our periodic filings with the Securities and Exchange Commission.

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 6

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts; dollars in USD; unaudited)

As of June 30, 2026 As of December 31, 2025

Assets

Real estate investments:

Land and improvements $ 3,260,895 $ 2,962,738

Buildings and improvements 33,346,737 30,872,598

Construction in progress 253,902 358,811

Acquired lease intangibles 1,937,522 1,680,567

Operating lease assets 316,707 295,838

39,115,763 36,170,552

Accumulated depreciation and amortization (12,622,838) (12,043,619)

Net real estate property 26,492,925 24,126,933

Secured loans receivable and investments, net 436,401 143,913

Investments in unconsolidated real estate entities 590,630 617,571

Net real estate investments 27,519,956 24,888,417

Cash and cash equivalents 198,956 741,067

Escrow deposits and restricted cash 24,861 45,070

Goodwill 1,045,816 1,046,072

Assets held for sale 28,744 42,993

Deferred income tax assets, net 3,134 2,797

Other assets 834,429 825,529

Total assets $ 29,655,896 $ 27,591,945

Liabilities and equity

Liabilities:

Senior notes payable and other debt $ 12,687,789 $ 13,011,016

Accrued interest payable 142,464 143,104

Operating lease liabilities 231,210 208,602

Accounts payable and other liabilities 1,349,477 1,240,820

Liabilities related to assets held for sale 2,584 4,032

Deferred income tax liabilities 30,739 23,409

Total liabilities 14,444,263 14,630,983

Redeemable OP unitholder and noncontrolling interests 509,069 375,154

Commitments and contingencies

Equity:

Ventas stockholders’ equity:

Preferred stock, $1.00 par value; 10,000 shares authorized, unissued — —

Common stock, $0.25 par value; 1,200,000 shares authorized, 512,946 and 474,926 shares outstanding at June 30, 2026 and December 31, 2025, respectively 128,237 118,732

Capital in excess of par value 22,478,217 19,976,183

Accumulated other comprehensive loss (31,510) (39,851)

Retained earnings (deficit) (7,925,545) (7,527,777)

Treasury stock, 0 shares issued — (34)

Total Ventas stockholders’ equity 14,649,399 12,527,253

Noncontrolling interests 53,165 58,555

Total equity 14,702,564 12,585,808

Total liabilities and equity $ 29,655,896 $ 27,591,945

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 7

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts; dollars in USD; unaudited)

For the Three Months Ended June 30, For the Six Months Ended June 30,

2026 2025 2026 2025

Revenues

Rental income:

Triple-net leased properties $ 124,856 $ 152,702 $ 247,927 $ 308,815

Outpatient medical and research portfolio 228,605 220,814 458,709 442,133

353,461 373,516 706,636 750,948

Resident fees and services 1,363,498 1,032,714 2,656,288 2,001,618

Third-party capital management revenues 4,245 4,397 8,656 8,733

Income from loans and investments 6,632 4,395 10,701 8,719

Interest and other income 1,778 5,871 4,277 8,949

Total revenues 1,729,614 1,420,893 3,386,558 2,778,967

Expenses

Interest 160,034 150,298 316,176 299,654

Depreciation and amortization 407,711 347,719 790,179 669,244

Property-level operating expenses:

Senior housing 959,999 746,302 1,878,331 1,450,702

Outpatient medical and research portfolio 77,781 75,001 158,082 150,958

Triple-net leased properties 3,142 3,966 6,043 7,493

1,040,922 825,269 2,042,456 1,609,153

Third-party capital management expenses 1,706 1,627 3,539 3,452

General, administrative and professional fees 46,986 42,856 109,732 96,005

Loss on extinguishment of debt, net 83 — 532 —

Transaction, transition and restructuring costs 13,478 4,627 20,137 10,609

Other expense 4,454 5,839 14,154 7,251

Total expenses 1,675,374 1,378,235 3,296,905 2,695,368

Income before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests 54,240 42,658 89,653 83,599

Loss from unconsolidated entities (7,812) (1,138) (15,162) (4,449)

Gain on real estate dispositions 176 33,816 15,222 33,985

Income tax benefit (expense) 25,618 (3,874) 41,555 6,683

Net income 72,222 71,462 131,268 119,818

Net income attributable to noncontrolling interests 1,652 3,198 4,786 4,686

Net income attributable to common stockholders $ 70,570 $ 68,264 $ 126,482 $ 115,132

Earnings per common share

Basic:

Net income $ 0.15 $ 0.16 $ 0.27 $ 0.27

Net income attributable to common stockholders 0.14 0.15 0.26 0.26

Diluted:

Net income $ 0.15 $ 0.16 $ 0.27 $ 0.26

Net income attributable to common stockholders 0.14 0.15 0.26 0.25

Weighted average shares used in computing earnings per common share

Basic 489,287 452,583 482,802 446,314

Diluted 497,724 459,088 492,282 453,000

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 8

NON-GAAP FINANCIAL MEASURES RECONCILIATION

Funds From Operations Attributable to Common Stockholders (FFO)

(In thousands, except per share amounts; dollars in USD; totals may not sum due to rounding; unaudited)

For the Three Months Ended June 30, Q2 YoY Change

2026 2025 ’26-’25

Net income attributable to common stockholders $ 70,570 $ 68,264 3%

Net income attributable to common stockholders per share $ 0.14 $ 0.15 (7%)

Adjustments:

Depreciation and amortization on real estate assets 406,036 346,214

Depreciation on real estate assets related to noncontrolling interests (6,238) (3,973)

Depreciation on real estate assets related to unconsolidated entities 22,600 18,716

Gain on real estate dispositions (176) (33,816)

Loss (gain) on real estate dispositions related to unconsolidated entities 29 (62)

Subtotal: Nareit FFO adjustments 422,251 327,079

Subtotal: Nareit FFO adjustments per share $ 0.85 $ 0.71

Nareit FFO attributable to common stockholders $ 492,821 $ 395,343 25%

Nareit FFO attributable to common stockholders per share $ 0.99 $ 0.86 15%

Adjustments:

Loss (gain) on derivatives, net 100 (1,074)

Non-cash impact of income tax (benefit) expense (29,017) 748

Loss on extinguishment of debt, net 83 —

Transaction, transition and restructuring costs 13,478 4,627

Amortization of other intangibles 119 121

Non-cash stock-based compensation expense (1)

5,312 7,683

Significant disruptive events, net (1,064) 958

Normalizing items related to noncontrolling interests and unconsolidated entities, net 1,884 463

Other normalizing items, net — (1)

Subtotal: Normalized FFO adjustments (9,105) 13,525

Subtotal: Normalized FFO adjustments per share $ (0.02) $ 0.03

Normalized FFO attributable to common stockholders (1)

$ 483,716 $ 408,868 18%

Normalized FFO attributable to common stockholders per share $ 0.97 $ 0.89 9%

Weighted average diluted shares 497,724 459,088

(1) Beginning with the first quarter of 2026, the Company excludes non-cash stock-based compensation expense from the calculation of Normalized FFO. Results for prior periods have been updated to conform to this presentation.

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 9

Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. However, since real estate values historically have risen or fallen with market conditions, many industry investors deem presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. For that reason, the Company considers Funds From Operations attributable to common stockholders (“FFO”) and Normalized FFO attributable to common stockholders (“Normalized FFO”) to be appropriate supplemental measures of operating performance of an equity REIT. The Company believes that the presentation of FFO, combined with the presentation of required GAAP financial measures, has improved the understanding of operating results of REITs among the investing public and has helped make comparisons of REIT operating results more meaningful. Management generally considers FFO to be a useful measure for understanding and comparing our operating results because, by excluding gains and losses related to sales of previously depreciated operating real estate assets, impairment losses on depreciable real estate and real estate asset depreciation and amortization (which can differ across owners of similar assets in similar condition based on historical cost accounting and useful life estimates), FFO can help investors compare the operating performance of a company’s real estate across reporting periods and to the operating performance of other companies. The Company believes that Normalized FFO is useful because it allows investors, analysts and Company management to compare the Company’s operating performance across periods on a consistent basis. In some cases, the Company provides information about identified non-cash components of FFO and Normalized FFO because it allows investors, analysts and our management to assess the impact of those items on our financial results.

Nareit Funds From Operations Attributable to Common Stockholders (“Nareit FFO”)

The Company uses the National Association of Real Estate Investment Trusts (“Nareit”) definition of FFO. Nareit defines FFO as net income attributable to common stockholders (computed in accordance with GAAP) excluding gains (or losses) from sales of real estate property, including gain (or loss) on re-measurement of equity method investments and impairment write-downs of depreciable real estate, plus real estate depreciation and amortization, and after adjustments for unconsolidated entities and noncontrolling interests. Adjustments for unconsolidated entities and noncontrolling interests will be calculated to reflect FFO on the same basis.

Normalized FFO Attributable to Common Stockholders (“Normalized FFO”)

The Company defines Normalized FFO as Nareit FFO excluding the following income and expense items, without duplication: (a) gains and losses on derivatives, net and changes in the fair value of financial instruments; (b) the non-cash impact of income tax benefits or expenses; (c) gains and losses on extinguishment of debt, net including the write-off of unamortized deferred financing fees or additional costs, expenses, discounts, make-whole payments, penalties or premiums incurred as a result of early retirement or payment of our debt; (d) transaction, transition and restructuring costs; (e) amortization of other intangibles; (f) non-cash stock-based compensation expense; (g) net expenses or recoveries related to significant disruptive events; (h) the impact of expenses related to asset impairment and valuation allowances; (i) the financial impact of contingent consideration; (j) gains and losses on non-real estate dispositions and other normalizing items related to noncontrolling interests and unconsolidated entities; and (k) other items set forth in the Normalized FFO reconciliation included herein.

Nareit FFO and Normalized FFO presented herein may not be comparable to those presented by other companies, which may define similarly titled measures differently than the Company does. Nareit FFO and Normalized FFO should not be considered as alternatives to net income attributable to common stockholders (determined in accordance with GAAP) as indicators of the Company’s financial performance or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of the Company’s liquidity, nor are they necessarily indicative of sufficient cash flow to fund all of the Company’s needs. The Company believes that in order to facilitate a clear understanding of the consolidated historical operating results of the Company, Nareit FFO and Normalized FFO should be examined in conjunction with net income attributable to common stockholders as presented elsewhere herein.

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 10

NON-GAAP FINANCIAL MEASURES RECONCILIATION

Full Year 2026 Guidance as of July 29th, 20261

Net Income and FFO Attributable to Common Stockholders2

(In millions, except per share amounts; dollars in USD; totals may not sum due to rounding; unaudited)

FY 2026

FY 2026 - Per Share

Low High Low High

Net income attributable to common stockholders $291 $317 $0.58 $0.63

Depreciation and amortization adjustments 1,626 1,626 $3.22 $3.22

Gain on real estate dispositions (15) (15) ($0.03) ($0.03)

Nareit FFO attributable to common stockholders $1,902 $1,927 $3.76 $3.81

Other adjustments3

44 44 $0.09 $0.09

Normalized FFO attributable to common stockholders $1,947 $1,972 $3.85 $3.90

% Year-over-year growth 8% 10%

Weighted average diluted shares (in millions) 506 506

1 The Company’s guidance constitutes forward-looking statements within the meaning of the federal securities laws and is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. Actual results may differ materially from the Company’s expectations depending on factors discussed herein and in the Company’s filings with the Securities and Exchange Commission.

2 Totals may not add due to minor corporate-level adjustments.

3 Other adjustments include the categories of adjustments presented in our “Non-GAAP Financial Measures Reconciliation – Funds From Operations Attributable to Common Stockholders (FFO)”.

Select Guidance Assumptions:

•The Company’s guidance includes the following investment and disposition assumptions:

◦Expect to close $4.5 billion of investments focused on senior housing, increased vs. previous $3 billion

◦Disposition and loan repayment proceeds of ~$700 million at a ~7% blended yield, vs. previous ~$300 million

◦Additional guidance assumptions include:

◦Interest expense of ~$646 million at midpoint, vs. previous ~$640 million

◦Interest and other income of ~$8 million at midpoint, unchanged

◦Full year weighted average diluted share count of 506 million, vs. previous 504 million

◦FAD capital expenditures of ~$400 million at midpoint, unchanged

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 11

NON-GAAP FINANCIAL MEASURES RECONCILIATION

Full Year 2026 Guidance as of April 27th, 20261

Net Income and FFO Attributable to Common Stockholders2

(In millions, except per share amounts; dollars in USD; totals may not sum due to rounding; unaudited)

FY 2026

FY 2026 - Per Share

Low High Low High

Net income attributable to common stockholders $282 $317 $0.56 $0.63

Depreciation and amortization adjustments 1,593 1,593 $3.16 $3.16

Gain on real estate dispositions (15) (15) ($0.03) ($0.03)

Nareit FFO attributable to common stockholders $1,860 $1,895 $3.69 $3.76

Other adjustments3

64 64 $0.13 $0.13

Normalized FFO attributable to common stockholders $1,924 $1,959 $3.82 $3.89

% Year-over-year growth 7% 9%

Weighted average diluted shares (in millions) 504 504

2 Totals may not add due to minor corporate-level adjustments.

3 Other adjustments include the categories of adjustments presented in our “Non-GAAP Financial Measures Reconciliation – Funds From Operations Attributable to Common Stockholders (FFO)”.

Select Guidance Assumptions:

•The Company’s guidance includes the following investment and disposition assumptions:

◦Expect to close ~$3 billion of investments focused on senior housing

◦Disposition proceeds of ~$300 million

◦Additional guidance assumptions include:

◦Interest expense of ~$640 million at midpoint

◦Interest and other income of ~$8 million at midpoint

◦Full year weighted average diluted share count of 504 million

◦FAD capital expenditures of ~$400 million at midpoint

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 12

NON-GAAP FINANCIAL MEASURES RECONCILIATION

Second Quarter 2026 Same-Store Cash NOI by Segment

(In thousands, unless otherwise noted; dollars in USD; totals may not sum due to rounding; unaudited)

For the Three Months Ended June 30, 2026

SHOP

OM&R

NNN

Non-Segment Total

Net income attributable to common stockholders $ 70,570

Adjustments:

Interest and other income (1,778)

Interest expense 160,034

Depreciation and amortization 407,711

General, administrative and professional fees 46,986

Loss on extinguishment of debt, net 83

Transaction, transition and restructuring costs 13,478

Other expense 4,454

Net income attributable to noncontrolling interests 1,652

Loss from unconsolidated entities 7,812

Income tax benefit (25,618)

Gain on real estate dispositions (176)

NOI $ 403,499 $ 151,532 $ 121,714 $ 8,463 $ 685,208

Adjustments:

Straight-lining of rental income — (2,817) (4,641) — (7,458)

Non-cash rental income — (3,208) (1,452) — (4,660)

Cash payments, fees and other consideration

— 2,844 — — 2,844

NOI not included in Cash NOI (1)

1,198 (1,153) — — 45

Non-segment NOI — — — (8,463) (8,463)

Cash NOI $ 404,697 $ 147,198 $ 115,621 $ — $ 667,516

Adjustments:

Cash NOI not included in Same-Store (100,006) (4,539) — — (104,545)

Same-Store Cash NOI

$ 304,691 $ 142,659 $ 115,621 $ — $ 562,971

Percentage increase

16.3 % 4.6 % 3.1 % 10.3 %

(1) Includes consolidated properties. Excludes sold assets, assets owned by unconsolidated real estate entities, assets held for sale, loan repayments, development properties not yet operational, land parcels and third-party management revenues from all periods. Assets that have undergone business model transitions are reflected within the new business segment as of the transition date.

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 13

For the Three Months Ended June 30, 2025

SHOP

OM&R

NNN

Non-Segment Total

Net income attributable to common stockholders $ 68,264

Adjustments:

Interest and other income (5,871)

Interest expense 150,298

Depreciation and amortization 347,719

General, administrative and professional fees 42,856

Transaction, transition and restructuring costs 4,627

Other expense 5,839

Net income attributable to noncontrolling interests 3,198

Loss from unconsolidated entities 1,138

Income tax expense 3,874

Gain on real estate dispositions (33,816)

NOI $ 286,412 $ 146,486 $ 148,736 $ 6,492 $ 588,126

Adjustments:

Straight-lining of rental income — (2,620) (5,579) — (8,199)

Non-cash rental income — (1,994) (7,720) — (9,714)

Cash payments, fees and other consideration

— 1,043 — — 1,043

NOI not included in Cash NOI (1)

1,197 (2,737) (23,282) — (24,822)

Non-segment NOI — — — (6,492) (6,492)

NOI impact from change in FX (96) — 16 — (80)

Cash NOI $ 287,513 $ 140,178 $ 112,171 $ — $ 539,862

Adjustments:

Cash NOI not included in Same-Store (25,507) (3,827) — — (29,334)

NOI impact from change in FX not in Same-Store 15 — — — 15

Same-Store Cash NOI

$ 262,021 $ 136,351 $ 112,171 $ — $ 510,543

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 14

NON-GAAP FINANCIAL MEASURES RECONCILIATION

Second Quarter 2026 Senior Housing Operating Portfolio Same-Store Cash Operating Revenue

(In thousands, unless otherwise noted; dollars in USD; totals may not sum due to rounding; unaudited)

For the Three Months Ended

2Q25 1Q26 2Q26

Total revenues $ 1,032,714 $ 1,292,790 $ 1,363,498

Adjustments:

Revenues not included in cash operating revenues1

(9,704) (5,323) (4,192)

Revenue impact from change in FX (109) (1,450) —

Cash operating revenue $ 1,022,901 $ 1,286,017 $ 1,359,306

Adjustments:

Cash operating revenue not included in Same-Store (120,609) (314,598) (379,731)

Cash operating revenue impact from change in FX not in Same-Store (8) 154 —

Same-Store Cash Operating Revenue $ 902,284 $ 971,573 $ 979,575

Percentage increase YoY 8.6 %

Percentage increase Seq 0.8 %

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 15

NON-GAAP FINANCIAL MEASURES RECONCILIATION

Adjusted EBITDA and Net Debt

(Dollars in thousands USD; totals may not sum due to rounding; unaudited)

For the Three Months Ended June 30,

2026 2025

Net income attributable to common stockholders $ 70,570 $ 68,264

Adjustments:

Interest expense 160,034 150,298

Loss on extinguishment of debt, net 83 —

Taxes (including tax amounts in general, administrative and professional fees) (24,433) 4,787

Depreciation and amortization 407,711 347,719

Non-cash stock-based compensation expense 5,313 7,683

Transaction, transition and restructuring costs 13,478 4,627

Net income attributable to noncontrolling interests, adjusted for partners’ share of consolidated entity EBITDA

(10,956) (8,030)

Income from unconsolidated entities, adjusted for Ventas’ share of EBITDA from unconsolidated entities

42,319 37,418

Gain on real estate dispositions (176) (33,816)

Unrealized foreign currency gain (loss) 183 (492)

Gain on derivatives, net — (1,201)

Significant disruptive events, net (1,064) 958

Other normalizing items, net — (1)

Adjusted EBITDA $ 663,062 $ 578,214

Adjustment for current period activity 20,651 (3,996)

Further Adjusted EBITDA $ 683,713 $ 574,218

Further Adjusted EBITDA annualized $ 2,734,852 $ 2,296,872

Total Debt $ 12,687,789 $ 13,056,312

Cash and cash equivalents (198,956) (614,200)

Restricted cash pertaining to debt (2,643) (34,466)

Partners’ share of consolidated debt (335,866) (326,038)

Ventas’s share of unconsolidated debt 755,816 721,462

Net Debt $ 12,906,140 $ 12,803,070

Net Debt / Further Adjusted EBITDA 4.7 x 5.6 x

The Company believes that Further Adjusted EBITDA and Net Debt are useful to investors, analysts and Company management because they allow the comparison of the Company’s credit strength between periods and to other real estate companies without the effect of items that by their nature are not comparable from period to period.

Adjusted EBITDA

The Company defines Adjusted EBITDA as consolidated earnings before interest, taxes, depreciation and amortization (including non-cash stock-based compensation expense, asset impairment and valuation allowances), excluding (a) gains or losses on extinguishment of debt; (b) transaction, transition and restructuring costs; (c) noncontrolling interests’ share of adjusted EBITDA; (d) net gains or losses on real estate activity; (e) gains or losses on re-measurement of equity interest upon acquisition; (f) unrealized foreign currency gains or losses; (g) gains or losses on derivatives, net and changes in the fair value of financial instruments; (h) net expenses or recoveries related to significant disruptive events; and including (x) Ventas’ share of adjusted EBITDA from unconsolidated entities and (y) the impact of other items set forth in the Adjusted EBITDA reconciliation included herein.

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 16

Further Adjusted EBITDA

Further Adjusted EBITDA is Adjusted EBITDA further adjusted for transactions and events that were completed during the period, as if the transaction or event had been consummated at the beginning of the relevant period and considers any other incremental items set forth in the Further Adjusted EBITDA reconciliation included herein.

The Company considers NOI and Cash NOI as important supplemental measures because they allow investors, analysts and the Company’s management to assess its unlevered property-level operating results and to compare its operating results with those of other real estate companies and between periods on a consistent basis.

NOI

The Company defines NOI as total revenues, less interest and other income, property-level operating expenses and third-party capital management expenses.

Cash NOI

The Company defines Cash NOI as NOI for its reportable business segments (i.e., SHOP, OM&R and NNN), determined on a Constant Currency basis, excluding the impact of, without duplication (i) non-cash items such as straight-line rent and the amortization of lease intangibles, (ii) sold assets, assets held for sale, development properties not yet operational and land parcels and (iii) other items set forth in the Cash NOI reconciliation included herein. In certain cases, results may be adjusted to reflect the receipt of cash payments, fees, and other consideration that is not fully recognized as NOI in the period.

Same-Store

The Company defines same-store as properties owned, consolidated and operational for the full period in both comparison periods and that are not otherwise excluded; provided, however, that the Company may include selected properties that otherwise meet the same-store criteria if they are included in substantially all of, but not a full, period for one or both of the comparison periods, and in the Company’s judgment such inclusion provides a more meaningful presentation of its segment performance.

Newly acquired development properties and recently developed or redeveloped properties in the Company’s SHOP reportable business segment will be included in same-store once they are stabilized for the full period in both periods presented. These properties are considered stabilized upon the earlier of (a) the achievement of 80% sustained occupancy or (b) 24 months from the date of acquisition or substantial completion of work. Recently developed or redeveloped properties in the Company’s OM&R and NNN reportable business segments will be included in same-store once substantial completion of work has occurred for the full period in both periods presented. Our SHOP and NNN that have undergone operator or business model transitions will be included in same-store once operating under consistent operating structures for the full period in both periods presented.

Properties are excluded from same-store if they are: (i) sold, classified as held for sale or properties whose operations were classified as discontinued operations in accordance with GAAP; (ii) impacted by significant disruptive events such as flood or fire; (iii) for SHOP, those properties that are currently undergoing a significant disruptive redevelopment; (iv) for OM&R and NNN reportable business segments, those properties for which management has an intention to institute, or has instituted, a redevelopment plan because the properties may require major property-level expenditures to maximize value, increase NOI, or maintain a market-competitive position and/or achieve property stabilization, most commonly as the result of an expected or actual material change in occupancy or NOI; or (v) for SHOP and NNN reportable business segments, those properties that are scheduled to undergo operator or business model transitions, or have transitioned operators or business models after the start of the prior comparison period.

Constant Currency

To eliminate the impact of exchange rate movements, certain of our performance-based disclosures, including Same-Store NOI for SHOP and NNN, assume constant exchange rates across comparable periods, using the following methodology: the current period’s results are shown in actual reported USD, while prior comparison

- MORE -

Ventas Reports 2026 Second Quarter Results

July 29, 2026

Page 17

period’s results are adjusted and converted to USD based on the average monthly exchange rate for the current period.

Contacts

BJ Grant

(877) 4-VENTAS

Source: Ventas, Inc.

- END -

GRAPHIC

Filename: ventas-logox2colorxlightbg.jpg · Sequence: 7

Binary file (37443 bytes)

Download ventas-logox2colorxlightbg.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 9

v3.26.1

Cover

Jul. 29, 2026

Oct. 29, 2025

Document Information [Line Items]

Document Type

8-K

Document Period End Date

Jul. 29, 2026

Entity Registrant Name

Ventas, Inc.

Entity Incorporation, State or Country Code

Entity File Number

001-10989

Entity Tax Identification Number

61-1055020

Entity Address, Address Line One

300 North LaSalle Street, Suite 1600

Entity Address, City or Town

Chicago

Entity Address, State or Province

Entity Address, Postal Zip Code

60654

City Area Code

877

Local Phone Number

483-6827

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common stock, $0.25 par value

Trading Symbol

VTR

Entity Central Index Key

0000740260

Amendment Flag

false

Entity Emerging Growth Company

false

NEW YORK STOCK EXCHANGE, INC.

Document Information [Line Items]

Security Exchange Name

NYSE

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_DocumentInformationLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Details

Name:

dei_EntityListingsExchangeAxis=exch_XNYS

Namespace Prefix:

Data Type:

Balance Type:

Period Type: