5 unchanged sentences
Dallas, Texas and Salt Lake City, Utah.
−Removed: Operating Facilities — We operate 327 independent subsidiaries in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin, with the operational capacity to serve approximately 37,000 patients as of December 31, 2024.
+Added: Operating Facilities — We operate 373 independent subsidiaries in Alabama, Alaska, Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, Oregon, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin, with the operational capacity to serve approximately 41,000 patients as of December 31, 2025.
Of the 373 facilities, we operate 253 facilities under long-term lease arrangements and have options to purchase 8 of those 253 facilities.
2 unchanged sentences
Management's Discussion and Analysis of Financial Condition and Results of Operations.
−Removed: The following table provides summary information regarding the location of our facilities, operational beds and units by property type as of December 31, 2024:
−Removed: Operated Facilities
−Removed: Leased without a Purchase Option Leased with a Purchase Option Owned Total
−Removed: Facilities Beds/Units Facilities Beds/Units Facilities Beds/Units Facilities Beds/Units
+Added: The following table sets forth the location of our facilities and the number of operational beds and units located at our skilled nursing, senior living and campus facilities as of December 31, 2025:
+Added: Facility Counts Bed / Unit Counts
+Added: Skilled Operations Senior Living Communities Campus Operations (1)
+Added: Total Skilled Operational Beds Senior Living Units Total Beds / Units
Texas 79 1 5 85 10,242 605 10,847
2 unchanged sentences
Colorado 33 5 1 39 3,541 633 4,174
−Removed: Utah 12 1,311 2 159 8 764 22 2,234
+Added: 26 2 1 29 2,412 163 2,575
Washington 17 1 — 18 1,608 98 1,706
1 unchanged sentence
Kansas 4 — 8 12 883 251 1,134
+Added: Tennessee 11 — — 11 1,122 — 1,122
South Carolina 9 — — 9 1,126 — 1,126
−Removed: Nebraska 5 364 — — 3 331 8 695
Iowa 7 — 2 9 602 31 633
−Removed: Tennessee 3 349 — — 3 300 6 649
−Removed: Nevada 3 483 — — — — 3 483
+Added: Nebraska 4 1 3 8 496 199 695
Wisconsin 4 — — 4 302 — 302
+Added: Nevada 3 — — 3 483 — 483
+Added: Alaska 1 1 — 2 146 82 228
+Added: Alabama 2 — — 2 181 — 181
+Added: Oregon — — 1 1 98 50 148
326 16 31 373 37,911 3,402 41,313
−Removed: The following table sets forth the location of our facilities and the number of operational beds and units located at our skilled nursing, senior living and campus facilities as of December 31, 2024:
−Removed: Facility Counts Bed / Unit Counts
−Removed: Skilled Nursing Operations Senior Living Communities Campus Operations Total Skilled Nursing Beds Senior Living Units Total Beds / Units
+Added: (1) Campuses represent facilities that offer both skilled nursing and senior living services.
+Added: The following table provides summary information regarding the location of our facilities, operational beds and units by property type as of December 31, 2025:
+Added: Operated Facilities
+Added: Leased without a Purchase Option Leased with a Purchase Option Owned Total
+Added: Facilities Beds/Units Facilities Beds/Units Facilities Beds/Units Facilities Beds/Units
Texas 56 6,975 2 220 27 3,652 85 10,847
6 unchanged sentences
Kansas 2 147 3 325 7 662 12 1,134
+Added: Tennessee 8 822 — — 3 300 11 1,122
South Carolina 4 582 — — 5 544 9 1,126
−Removed: Nebraska 4 1 3 8 496 199 695
Iowa 6 399 — — 3 234 9 633
−Removed: Tennessee 6 — — 6 649 — 649
−Removed: Nevada 3 — — 3 483 — 483
+Added: Nebraska 5 364 — — 3 331 8 695
Wisconsin — — — — 4 302 4 302
+Added: Nevada 3 483 — — — — 3 483
+Added: Alaska — — — — 2 228 2 228
+Added: Alabama 2 181 — — — — 2 181
+Added: Oregon — — — — 1 148 1 148
245 26,930 8 829 120 13,554 373 41,313
−Removed: Real Estate Properties — As of December 31, 2024, we owned 129 real estate properties in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin, which include 96 of the 327 facilities that we operate and manage.
+Added: Real Estate Properties — As of December 31, 2025, we owned 158 real estate properties in Alaska, Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, Oregon, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin, which include 120 of the 373 facilities that we operate and manage.
Of our 158 real estate properties, 38 operations are leased to and operated by third-party operators.
2 unchanged sentences
Our Standard Bearer segment reflects the results of operations for 152 of the 158 owned real estate properties.
+Added: The following table provides summary information regarding the location of our owned and operated real estate properties as of December 31, 2025:
+Added: Facility Counts Bed / Unit Counts
+Added: Skilled Operations Senior Living Communities Campus Operations (1)
+Added: Total Skilled Operational Beds Senior Living Units Total Beds / Units
+Added: Texas 22 1 4 27 3,077 575 3,652
+Added: Arizona 12 — 5 17 2,052 494 2,546
+Added: Utah 15 — — 15 1,102 — 1,102
+Added: California 11 — 1 12 1,291 42 1,333
+Added: Colorado 6 3 — 9 592 369 961
+Added: Kansas 2 — 5 7 495 167 662
+Added: Washington 6 — — 6 621 — 621
+Added: Idaho 6 — — 6 590 — 590
+Added: South Carolina 5 — — 5 544 — 544
+Added: Wisconsin 4 — — 4 302 — 302
+Added: Nebraska 1 1 1 3 171 160 331
+Added: Tennessee 3 — — 3 300 — 300
+Added: Iowa 3 — — 3 234 — 234
+Added: Alaska 1 1 — 2 146 82 228
+Added: Oregon — — 1 1 98 50 148
+Added: 97 6 17 120 11,615 1,939 13,554
+Added: (1) Campuses represent facilities that offer both skilled nursing and senior living services.
The following table provides summary information regarding the location of our owned real estate properties as of December 31, 2025:
4 unchanged sentences
Arizona 17 1 — 18
−Removed: California 11 2 1 14
+Added: Utah 15 — — 15
Colorado 9 — — 9
+Added: Washington 6 3 — 9
Kansas 7 — — 7
1 unchanged sentence
South Carolina 5 — — 5
−Removed: Washington 4 1 — 5
Nebraska 3 — — 3
Tennessee 3 — — 3
+Added: Alaska 2 — — 2
+Added: Oregon 1 — — 1
Nevada — 1 — 1
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.