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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenue          
Resident fees     $ 2,291,757 $ 2,207,673 $ 2,016,349
Management fees     13,595 5,591 6,719
Reimbursed costs incurred on behalf of managed communities     152,566 67,271 77,206
Total revenue 671,971 578,224 2,457,918 [1] 2,280,535 [1] 2,100,274 [1]
Expense          
Facility operating expense (excluding depreciation and amortization of $211,038, $208,181 and $184,780, respectively)     1,508,571 1,437,930 1,302,277
General and administrative expense (including non-cash stock-based compensation expense of $19,856, $20,759 and $26,935, respectively)     148,327 131,709 134,864
Facility lease expense     274,858 270,905 272,096
Depreciation and amortization     268,506 292,341 271,935
(Gain) loss on sale of communities, net     0 (3,298) 2,043
Asset impairment     16,892 13,075 10,073
Gain on acquisition     (1,982) 0 0
Costs incurred on behalf of managed communities     152,566 67,271 77,206
Facility lease termination expense     0 4,608 0
Total operating expense     2,367,738 2,214,541 2,070,494
Income from operations 19,812 [2] 17,772 [2] 90,180 65,994 29,780
Interest income     3,538 2,238 2,354
Interest expense:          
Debt     (124,873) (132,641) (128,869)
Amortization of deferred financing costs and debt discount     (13,427) (8,963) (9,505)
Change in fair value of derivatives and amortization     (3,878) (4,118) 3,765
Loss on extinguishment of debt, net     (18,863) (1,557) (1,292)
Equity in earnings of unconsolidated ventures     1,432 168 440
Other non-operating income (expense)     56 (1,454) 4,146
Loss before income taxes (14,875) (8,136) (65,835) (80,333) (99,181)
(Provision) benefit for income taxes     (2,340) 31,432 32,926
Net loss     $ (68,175) $ (48,901) $ (66,255)
Basic and diluted net loss per share (in dollars per share) $ (0.12) $ (0.07) $ (0.56) $ (0.41) $ (0.60)
Weighted average shares used in computing basic and diluted net loss per share (in shares) 121,161 120,010 121,161 120,010 111,288
[1] All revenue is earned from external third parties in the United States.
[2] Fourth quarter 2011 and 2010 results include non-cash impairment charges of $2.0 million and $13.1 million, respectively. First quarter 2011 results include non-cash impairment charges of $14.8 million.