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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Rental income:        
Triple-net leased $ 120,129 $ 117,386 $ 238,732 $ 233,719
Medical office buildings 23,758 12,240 47,994 24,429
Total rental income 143,887 129,626 286,726 258,148
Resident fees and services 202,482 109,867 316,984 218,353
Medical office building services revenue 9,822   16,779  
Income from loans and investments 8,391 3,705 14,476 7,322
Interest and other income 78 122 156 385
Total revenues 364,660 243,320 635,121 484,208
Expenses:        
Interest 53,732 43,840 96,290 87,930
Depreciation and amortization 80,755 50,040 132,514 102,354
Property-level operating expenses:        
Senior living 136,739 71,059 214,850 145,736
Medical office buildings 8,278 4,124 16,954 8,326
Property-level operating expenses 145,017 75,183 231,804 154,062
Medical office building services costs 7,954   13,490  
General, administrative and professional fees (including non-cash stock-based compensation expense of $4,352 and $3,057 for the three months ended 2011 and 2010, respectively, and $8,368 and $6,089 for the six months ended 2011 and 2010, respectively) 15,554 9,858 30,386 20,541
Loss on extinguishment of debt 6 6,549 16,526 6,549
Merger-related expenses and deal costs 55,807 4,207 62,256 6,526
Other (7,773) 121 (7,772) 15
Total expenses 351,052 189,798 575,494 377,977
Income before loss from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest 13,608 53,522 59,627 106,231
Loss from unconsolidated entities (83)   (253)  
Income tax benefit (expense) 6,209 (409) 9,406 (695)
Income from continuing operations 19,734 53,113 68,780 105,536
Discontinued operations   5,852   6,597
Net income 19,734 58,965 68,780 112,133
Net income attributable to noncontrolling interest (net of tax of $0 and $559 for the three months ended 2011 and 2010, respectively, and $0 and $978 for the six months ended 2011 and 2010, respectively) 58 898 120 1,447
Net income attributable to common stockholders $ 19,676 $ 58,067 $ 68,660 $ 110,686
Basic:        
Income from continuing operations attributable to common stockholders $ 0.11 $ 0.33 $ 0.41 $ 0.67
Discontinued operations $ 0.00 $ 0.04   $ 0.04
Net income attributable to common stockholders $ 0.11 $ 0.37 $ 0.41 $ 0.71
Diluted:        
Income from continuing operations attributable to common stockholders $ 0.11 $ 0.33 $ 0.40 $ 0.66
Discontinued operations $ 0.00 $ 0.04   $ 0.04
Net income attributable to common stockholders $ 0.11 $ 0.37 $ 0.40 $ 0.70
Weighted average shares used in computing earnings per common share:        
Basic 176,262 156,611 168,369 156,533
Diluted 177,945 157,441 170,013 157,206
Dividends declared per common share $ 0.7014 $ 0.535 $ 1.2764 $ 1.07