Acquisitions of Real Estate Property (Tables)

12 Months Ended

Dec. 31, 2012

Business acquisition

Fair values of the assets acquired and liabilities assumed at the date of acquisition

We are accounting for our 2012 acquisitions under the acquisition method in accordance with ASC Topic 805, Business Combinations (“ASC 805”), and we have completed our initial accounting for these acquisitions, which are subject to further adjustment. The following table summarizes the acquisition date fair values of the assets acquired and liabilities assumed, which we determined using level two and level three inputs (in thousands):

	Cogdell		Sunrise		Other		Total
	(In thousands)
Land and improvements	$	93,585	$	41,689	$	59,538	$	194,812
Buildings and improvements	626,302		311,888		782,870		1,721,060
Construction in progress	23,944		—		1,653		25,597
Acquired lease intangibles	117,132		14,320		71,347		202,799
Other assets	24,466		890		20,520		45,876
Total assets acquired	885,429		368,787		935,928		2,190,144
Notes payable and other debt	213,430		—		199,395		412,825
Other liabilities	51,280		10,565		65,837		127,682
Total liabilities assumed	264,710		10,565		265,232		540,507
Noncontrolling interest assumed	29,058		—		8,640		37,698
Net assets acquired	591,661		358,222		662,056		1,611,939
Cash acquired	12,202		—		12,669		24,871
Total cash used	$	579,459	$	358,222	$	649,387	$	1,587,068

The effect of material acquisitions on net income and earnings per share

naudited Pro Forma

The following table illustrates the effect on net income and earnings per share as if we had consummated the ASLG and NHP acquisitions as of January 1, 2010:

	For the Year Ended December 31,
	2011		2010
	(In thousands, except per share amounts)
Revenues	$	2,256,319	$	2,178,897
Income from continuing operations attributable to common stockholders	583,446		321,637
Earnings per common share:
Basic:
Income from continuing operations attributable to common stockholders	$	2.03	$	1.14
Diluted:
Income from continuing operations attributable to common stockholders	$	2.02	$	1.14
Weighted average shares used in computing earnings per common share:
Basic	286,856		281,333
Diluted	289,193		282,382

ASLG

Business acquisition

Fair values of the assets acquired and liabilities assumed at the date of acquisition

Land and improvements	$	341,540
Buildings and improvements	2,876,717
Acquired lease intangibles	159,610
Other assets	215,708
Total assets acquired	3,593,575
Notes payable and other debt	1,629,212
Deferred tax liability	43,466
Other liabilities	202,278
Total liabilities assumed	1,874,956
Net assets acquired	1,718,619
Cash acquired	77,718
Equity issued	1,376,437
Total cash used	$	264,464

NHP

Business acquisition

Fair values of the assets acquired and liabilities assumed at the date of acquisition

Land and improvements	$	701,154
Buildings and improvements	6,147,737
Acquired lease intangibles	493,125
Investment in unconsolidated entities	93,553
Other assets	815,968
Total assets acquired	8,251,537
Notes payable and other debt	1,882,752
Other liabilities	720,420
Total liabilities assumed	2,603,172
Redeemable OP unitholder interests assumed	100,888
Noncontrolling interest assumed (including redeemable interests)	76,658
Net assets acquired	5,470,819
Cash acquired	29,205
Equity issued	5,365,819
Total cash used	$	75,795