XML 62 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues:      
Rental income $ 101,849us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 98,166us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 86,022us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Interest income from mortgage loans 16,553us-gaap_InterestAndFeeIncomeLoansCommercial 6,298us-gaap_InterestAndFeeIncomeLoansCommercial 5,496us-gaap_InterestAndFeeIncomeLoansCommercial
Interest and other income 559us-gaap_InterestAndOtherIncome 510us-gaap_InterestAndOtherIncome 964us-gaap_InterestAndOtherIncome
Total revenues 118,961us-gaap_Revenues 104,974us-gaap_Revenues 92,482us-gaap_Revenues
Expenses:      
Interest expense 13,128us-gaap_InterestExpense 11,364us-gaap_InterestExpense 9,932us-gaap_InterestExpense
Depreciation and amortization 25,529us-gaap_DepreciationAndAmortization 24,389us-gaap_DepreciationAndAmortization 21,613us-gaap_DepreciationAndAmortization
Provision (recovery) for doubtful accounts 32us-gaap_ProvisionForDoubtfulAccounts 2,180us-gaap_ProvisionForDoubtfulAccounts (101)us-gaap_ProvisionForDoubtfulAccounts
General and administrative expenses 11,832us-gaap_GeneralAndAdministrativeExpense 11,636us-gaap_GeneralAndAdministrativeExpense 10,732us-gaap_GeneralAndAdministrativeExpense
Total expenses 50,521us-gaap_CostsAndExpenses 49,569us-gaap_CostsAndExpenses 42,176us-gaap_CostsAndExpenses
Operating income 68,440us-gaap_OperatingIncomeLoss 55,405us-gaap_OperatingIncomeLoss 50,306us-gaap_OperatingIncomeLoss
Gain on sale of real estate, net 4,959us-gaap_GainLossOnSaleOfProperties    
Income from continuing operations 73,399us-gaap_IncomeLossFromContinuingOperations 55,405us-gaap_IncomeLossFromContinuingOperations 50,306us-gaap_IncomeLossFromContinuingOperations
Discontinued operations:      
Income from discontinued operations   805us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 1,005us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
Gain on sale of assets, net   1,605us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 16us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Net income from discontinued operations   2,410us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 1,021us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Net income 73,399us-gaap_ProfitLoss 57,815us-gaap_ProfitLoss 51,327us-gaap_ProfitLoss
Income allocated to non-controlling interests     (37)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to LTC Properties, Inc. 73,399us-gaap_NetIncomeLoss 57,815us-gaap_NetIncomeLoss 51,290us-gaap_NetIncomeLoss
Income allocated to participating securities (481)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic (383)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic (377)us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
Income allocated to preferred stockholders (3,273)us-gaap_PreferredStockDividendsAndOtherAdjustments (3,273)us-gaap_PreferredStockDividendsAndOtherAdjustments (3,273)us-gaap_PreferredStockDividendsAndOtherAdjustments
Net income available to common stockholders $ 69,645us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 54,159us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 47,640us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Basic earnings per common share      
Continuing operations (in dollars per share) $ 2.01us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.56us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.54us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Discontinued operations (in dollars per share)   $ 0.07us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.03us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Net income available to common stockholders $ 2.01us-gaap_EarningsPerShareBasic $ 1.64us-gaap_EarningsPerShareBasic $ 1.58us-gaap_EarningsPerShareBasic
Diluted earnings per common share      
Continuing operations (in dollars per share) $ 1.99us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.56us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.54us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Discontinued operations (in dollars per share)   $ 0.07us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.03us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Net income available to common stockholders $ 1.99us-gaap_EarningsPerShareDiluted $ 1.63us-gaap_EarningsPerShareDiluted $ 1.57us-gaap_EarningsPerShareDiluted
Weighted average shares used to calculate earnings per common share      
Basic (in shares) 34,617us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 33,111us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 30,238us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 36,640us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 33,142us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 30,278us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding