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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities    
Net loss $ (46,264) $ (23,852)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Loss on extinguishment of debt 18,148 701
Depreciation and amortization 147,073 151,235
Asset impairment 14,846 0
Equity in earnings of unconsolidated ventures (412) (516)
Distributions from unconsolidated ventures from cumulative share of net earnings 0 375
Amortization of deferred gain (2,186) (2,172)
Amortization of entrance fees (12,366) (11,526)
Proceeds from deferred entrance fee revenue 15,660 17,904
Deferred income tax benefit 0 (13,943)
Change in deferred lease liability 3,182 5,297
Change in fair value of derivatives and amortization 2,643 4,847
(Gain) loss on sale of assets (1,315) 144
Change in future service obligation 0 (1,064)
Non-cash stock-based compensation expense 9,095 9,976
Changes in operating assets and liabilities:    
Accounts receivable, net 1,623 (2,706)
Prepaid expenses and other assets, net (5,025) (1,870)
Accounts payable and accrued expenses 1,317 (9,790)
Tenant refundable fees and security deposits 23 (2,269)
Deferred revenue 4,348 4,630
Other 6,962 (10,630)
Net cash provided by operating activities 157,352 114,771
Cash Flows from Investing Activities    
(Increase) decrease in lease security deposits and lease acquisition deposits, net (372) 801
Decrease (increase) in cash and escrow deposits - restricted 58,296 (36,360)
Net proceeds from the sale of assets 29,032 1,487
Additions to property, plant and equipment and leasehold intangibles, net of related payables (67,929) (45,510)
Purchase of marketable securities - restricted (32,724) 0
Sale of marketable securities - restricted 1,417 0
Acquisition of assets, net of related payables and cash received (54,508) (21,809)
Payment on notes receivable, net 403 169
Investment in unconsolidated ventures 0 (1,053)
Distributions received from unconsolidated ventures 116 47
Other (468) (316)
Net cash used in investing activities (66,737) (102,544)
Cash Flows from Financing Activities    
Proceeds from debt 30,417 168,684
Proceeds from issuance of convertible notes, net 308,335 0
Issuance of warrants 45,066 0
Purchase of bond hedge (77,007) 0
Repayment of debt and capital lease obligations (418,176) (192,954)
Proceeds from line of credit 55,000 60,000
Repayment of line of credit (55,000) (60,000)
Payment of financing costs, net of related payables (3,485) (6,044)
Other (332) (44)
Refundable entrance fees:    
Proceeds from refundable entrance fees 11,390 15,061
Refunds of entrance fees (11,411) (11,122)
Cash portion of loss on extinguishment of debt (17,014) (179)
Recouponing and payment of swap termination (99) (654)
Net cash used in financing activities (132,316) (27,252)
Net decrease in cash and cash equivalents (41,701) (15,025)
Cash and cash equivalents at beginning of period 81,827 66,370
Cash and cash equivalents at end of period $ 40,126 $ 51,345