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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenue        
Resident fees $ 563,923 $ 547,560 $ 1,131,958 $ 1,090,589
Management fees 1,505 1,412 2,910 2,807
Reimbursed costs incurred on behalf of managed communities 17,871 16,546 35,351 33,126
Total revenue 583,299 [1] 565,518 [1] 1,170,219 [1] 1,126,522 [1]
Expense        
Facility operating expense (excluding depreciation and amortization of $49,913, $52,174, $100,978 and $104,207, respectively) 366,242 353,051 737,196 708,375
General and administrative expense (including non-cash stock-based compensation expense of $4,555, $5,105, $9,095 and $9,976, respectively) 33,681 31,834 67,224 63,786
Facility lease expense 66,065 67,175 132,380 135,424
Depreciation and amortization 70,577 73,168 142,359 146,229
Asset impairment 0 0 14,846 0
Costs incurred on behalf of managed communities 17,871 16,546 35,351 33,126
Total operating expense 554,436 541,774 1,129,356 1,086,940
Income from operations 28,863 23,744 40,863 39,582
Interest income 773 453 1,398 1,080
Interest expense:        
Debt (30,673) (33,903) (62,234) (67,183)
Amortization of deferred financing costs and debt discount (2,010) (2,410) (4,714) (5,006)
Change in fair value of derivatives and amortization (2,635) (2,207) (2,643) (4,847)
Loss on extinguishment of debt, net (15,254) (682) (18,148) (701)
Equity in earnings of unconsolidated ventures 146 119 412 516
Other non-operating (expense) income (441) 0 376 0
Loss before income taxes (21,231) (14,886) (44,690) (36,559)
(Provision) benefit for income taxes (12,728) 5,329 (1,574) 12,707
Net loss $ (33,959) $ (9,557) $ (46,264) $ (23,852)
Basic and diluted net loss per share $ (0.28) $ (0.08) $ (0.38) $ (0.20)
Weighted average shares used in computing basic and diluted net loss per share 121,280 119,721 121,037 119,519
[1] All revenue is earned from external third parties in the United States.