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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue        
Resident fees $ 602,387 $ 563,923 $ 1,199,273 $ 1,131,958
Management fees 7,499 1,505 14,943 2,910
Reimbursed costs incurred on behalf of managed communities 80,924 17,871 159,639 35,351
Total revenue 690,810 583,299 1,373,855 1,170,219
Expense        
Facility operating expense (excluding depreciation and amortization of $58,090, $57,808, $116,026 and $116,767, respectively) 403,515 366,242 802,284 737,196
General and administrative expense (including non-cash stock-based compensation expense of $6,729, $4,555, $13,164 and $9,095, respectively) 46,071 33,681 91,044 67,224
Facility lease expense 70,628 66,065 142,073 132,380
Depreciation and amortization 63,561 70,577 126,905 142,359
Asset impairment 7,246 0 8,329 14,846
Loss on acquisition 0 0 636 0
Gain on facility lease termination 0 0 (2,780) 0
Costs incurred on behalf of managed communities 80,924 17,871 159,639 35,351
Total operating expense 671,945 554,436 1,328,130 1,129,356
Income from operations 18,865 28,863 45,725 40,863
Interest income 692 773 1,544 1,398
Interest expense:        
Debt (32,431) (30,673) (64,481) (62,234)
Amortization of deferred financing costs and debt discount (4,586) (2,010) (9,059) (4,714)
Change in fair value of derivatives and amortization (278) (2,635) (511) (2,643)
Loss on extinguishment of debt 0 (15,254) (221) (18,148)
Equity in (loss) earnings of unconsolidated ventures (61) 146 38 412
Other non-operating income (loss) 3 (441) (108) 376
Loss before income taxes (17,796) (21,231) (27,073) (44,690)
Provision for income taxes (1,014) (12,728) (2,075) (1,574)
Net loss $ (18,810) $ (33,959) $ (29,148) $ (46,264)
Basic and diluted net loss per share (in dollars per share) $ (0.15) $ (0.28) $ (0.24) $ (0.38)
Weighted average shares used in computing basic and diluted net loss per share (in shares) 121,708 121,280 121,426 121,037