v3.24.2
Deferred Revenue
 6 Months Ended
Jun. 30, 2024
Revenues [Abstract]  
Deferred Revenue Deferred Revenue
The following table summarizes the Company’s deferred revenue, excluding deferred revenue related to assets classified as held for sale (in thousands):
June 30,
2024		December 31,
2023
Nonrefundable entrance fees(1)
$581,530 $562,026 
Other deferred revenue(2)
326,322 343,607 
Deferred revenue$907,852 $905,633 
_______________________________________
(1)During the three and six months ended June 30, 2024, the Company collected nonrefundable entrance fees of $34 million and $62 million, respectively, and recognized amortization of $21 million and $43 million, respectively. During the three and six months ended June 30, 2023, the Company collected nonrefundable entrance fees of $31 million and $60 million, respectively, and recognized amortization of $20 million and $40 million, respectively. The amortization of nonrefundable entrance fees is included within resident fees and services on the Consolidated Statements of Operations.
(2)Other deferred revenue is primarily comprised of prepaid rent, deferred rent, and tenant-funded tenant improvements owned by the Company. During the three and six months ended June 30, 2024, the Company recognized amortization related to other deferred revenue of $13 million and $27 million, respectively. During the three and six months ended June 30, 2023, the Company recognized amortization related to other deferred revenue of $18 million and $31 million, respectively. The amortization of other deferred revenue is included in rental and related revenues on the Consolidated Statements of Operations.