XML 42 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenue    
Resident fees $ 596,886 $ 568,035
Management fees 7,924 1,405
Reimbursed costs incurred on behalf of managed communities 78,715 17,480
Total revenue 683,525 586,920
Expense    
Facility operating expense (excluding depreciation and amortization of $57,936 and $58,959, respectively) 399,249 370,954
General and administrative expense (including non-cash stock-based compensation expense of $6,435 and $4,540, respectively) 44,973 33,543
Facility lease expense 71,445 66,315
Depreciation and amortization 63,344 71,782
Asset impairment 1,083 14,846
Loss on acquisition 636 0
Gain on facility lease termination (2,780) 0
Costs incurred on behalf of managed communities 78,715 17,480
Total operating expense 656,665 574,920
Income from operations 26,860 12,000
Interest income 852 625
Interest expense:    
Debt (32,050) (31,561)
Amortization of deferred financing costs and debt discount (4,473) (2,704)
Change in fair value of derivatives and amortization (233) (8)
Loss on extinguishment of debt, net (221) (2,894)
Equity in (loss) earnings of unconsolidated ventures 99 266
Other non-operating (expense) income (111) 817
Loss before income taxes (9,277) (23,459)
(Provision) benefit for income taxes (1,061) 11,154
Net loss $ (10,338) $ (12,305)
Basic and diluted net loss per share (in dollars per share) $ (0.09) $ (0.10)
Weighted average shares used in computing basic and diluted net loss per share (in shares) 121,145,000 120,792,000