Immaterial Corrections to Prior Period Financial Statements

6 Months Ended

Jun. 30, 2013

Immaterial Corrections To Prior Period Financial Statements [Abstract]

Additional Financial Information Disclosure

12. Immaterial Correction to Prior Period Financial Statements

In the second quarter of 2013, we revised our disclosure related to the consolidated statement of cash flows for the six months ended June 30, 2012 to reflect i) a decrease in cash provided by operating activities of $2.4 million, ii) a decrease in cash used in investing activities of $0.8 million, and iii) an increase in cash provided by financing activities of $1.6 million. This adjustment was made after completing an analysis that determined the change in accrued liabilities improperly reflected payments which primarily relate to the buyout of the Company’s partners in Rome LTH in April 2012.

This payment was considered in the fair value allocation during the consolidation process and is now appropriately reflected as a use of cash related to real estate acquisitions in cash used in investing activities. In addition, cash proceeds of $2.2 million related to the refinance of the Rome LTH debt is excluded from proceeds from notes payable and included as a noncash component. The Company has determined that the cash flow statement for the year ended December 31, 2012, is correct as reported. After evaluating the quantitative and qualitative effects of this adjustment, we have concluded that the impact on the Company’s prior interim period financial statements was not material.