v2.4.0.6

Condensed Consolidating Information (Tables) | 12 Months Ended
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Dec. 31, 2012
Condensed Consolidating Information (Unaudited) |
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Assets |  |  |  |  |  |  |  |  |
Net real estate investments | $ | 7,615 |  |  | $ | 412,362 |  |  | $ | 17,421,966 |  |  | $ | — |  |  | $ | 17,841,943 |
Cash and cash equivalents | 16,734 |  |  | — |  |  | 51,174 |  |  | — |  |  | 67,908 |
Escrow deposits and restricted cash | 7,565 |  |  | 1,952 |  |  | 96,396 |  |  | — |  |  | 105,913 |
Deferred financing costs, net | 757 |  |  | 34,047 |  |  | 7,747 |  |  | — |  |  | 42,551 |
Investment in and advances to affiliates | 10,343,664 |  |  | 1,867,251 |  |  | — |  |  | (12,210,915 | ) |  | — |
Other assets | 26,282 |  |  | 4,043 |  |  | 891,360 |  |  | — |  |  | 921,685 |
Total assets | $ | 10,402,617 |  |  | $ | 2,319,655 |  |  | $ | 18,468,643 |  |  | $ | (12,210,915 | ) |  | $ | 18,980,000 |
Liabilities and equity |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Senior notes payable and other debt | $ | — |  |  | $ | 4,570,296 |  |  | $ | 3,843,350 |  |  | $ | — |  |  | $ | 8,413,646 |
Intercompany loans | 3,425,082 |  |  | (4,126,391 | ) |  | 701,309 |  |  | — |  |  | — |
Accrued interest | — |  |  | 24,045 |  |  | 23,520 |  |  | — |  |  | 47,565 |
Accounts payable and other liabilities | 99,631 |  |  | 7,775 |  |  | 887,750 |  |  | — |  |  | 995,156 |
Deferred income taxes | 259,715 |  |  | — |  |  | — |  |  | — |  |  | 259,715 |
Total liabilities | 3,784,428 |  |  | 475,725 |  |  | 5,455,929 |  |  | — |  |  | 9,716,082 |
Redeemable OP unitholder and noncontrolling interests | — |  |  | — |  |  | 174,555 |  |  | — |  |  | 174,555 |
Total equity | 6,618,189 |  |  | 1,843,930 |  |  | 12,838,159 |  |  | (12,210,915 | ) |  | 9,089,363 |
Total liabilities and equity | $ | 10,402,617 |  |  | $ | 2,319,655 |  |  | $ | 18,468,643 |  |  | $ | (12,210,915 | ) |  | $ | 18,980,000 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2011
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Assets |  |  |  |  |  |  |  |  |
Net real estate investments | $ | 309 |  |  | $ | 519,042 |  |  | $ | 15,712,261 |  |  | $ | — |  |  | $ | 16,231,612 |
Cash and cash equivalents | 2,335 |  |  | — |  |  | 43,472 |  |  | — |  |  | 45,807 |
Escrow deposits and restricted cash | 1,971 |  |  | 7,513 |  |  | 67,106 |  |  | — |  |  | 76,590 |
Deferred financing costs, net | 757 |  |  | 19,239 |  |  | 6,673 |  |  | — |  |  | 26,669 |
Investment in and advances to affiliates | 8,612,893 |  |  | 1,728,635 |  |  | — |  |  | (10,341,528 | ) |  | — |
Other assets | 54,415 |  |  | 47,063 |  |  | 789,754 |  |  | — |  |  | 891,232 |
Total assets | $ | 8,672,680 |  |  | $ | 2,321,492 |  |  | $ | 16,619,266 |  |  | $ | (10,341,528 | ) |  | $ | 17,271,910 |
Liabilities and equity |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Senior notes payable and other debt | $ | — |  |  | $ | 2,593,176 |  |  | $ | 3,835,940 |  |  | $ | — |  |  | $ | 6,429,116 |
Intercompany loans | 1,204,987 |  |  | (2,040,590 | ) |  | 835,603 |  |  | — |  |  | — |
Accrued interest | — |  |  | 12,561 |  |  | 25,133 |  |  | — |  |  | 37,694 |
Accounts payable and other liabilities | 86,101 |  |  | 18,162 |  |  | 981,334 |  |  | — |  |  | 1,085,597 |
Deferred income taxes | 260,722 |  |  | — |  |  | — |  |  | — |  |  | 260,722 |
Total liabilities | 1,551,810 |  |  | 583,309 |  |  | 5,678,010 |  |  | — |  |  | 7,813,129 |
Redeemable OP unitholder and noncontrolling interests | — |  |  | — |  |  | 102,837 |  |  | — |  |  | 102,837 |
Total equity | 7,120,870 |  |  | 1,738,183 |  |  | 10,838,419 |  |  | (10,341,528 | ) |  | 9,355,944 |
Total liabilities and equity | $ | 8,672,680 |  |  | $ | 2,321,492 |  |  | $ | 16,619,266 |  |  | $ | (10,341,528 | ) |  | $ | 17,271,910 |
CONDENSED CONSOLIDATING STATEMENT OF INCOME | CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |
Rental income | $ | 2,538 |  |  | $ | 278,367 |  |  | $ | 913,155 |  |  | $ | — |  |  | $ | 1,194,060 |
Resident fees and services | — |  |  | — |  |  | 1,229,479 |  |  | — |  |  | 1,229,479 |
Medical office building and other services revenues | — |  |  | — |  |  | 20,741 |  |  | — |  |  | 20,741 |
Income from loans and investments | 2,944 |  |  | 1,630 |  |  | 35,339 |  |  | — |  |  | 39,913 |
Equity earnings in affiliates | 322,582 |  |  | — |  |  | 828 |  |  | (323,410 | ) |  | — |
Interest and other income | 476 |  |  | 25 |  |  | 605 |  |  | — |  |  | 1,106 |
Total revenues | 328,540 |  |  | 280,022 |  |  | 2,200,147 |  |  | (323,410 | ) |  | 2,485,299 |
Expenses: |  |  |  |  |  |  |  |  |
Interest | (3,858 | ) |  | 93,838 |  |  | 203,421 |  |  | — |  |  | 293,401 |
Depreciation and amortization | 2,777 |  |  | 36,608 |  |  | 686,596 |  |  | — |  |  | 725,981 |
Property-level operating expenses | — |  |  | 535 |  |  | 968,807 |  |  | — |  |  | 969,342 |
Medical office building services costs | — |  |  | — |  |  | 9,883 |  |  | — |  |  | 9,883 |
General, administrative and professional fees | 3,682 |  |  | 30,317 |  |  | 64,802 |  |  | — |  |  | 98,801 |
Loss (gain) on extinguishment of debt, net | — |  |  | 39,737 |  |  | (2,097 | ) |  | — |  |  | 37,640 |
Merger-related expenses and deal costs | 53,120 |  |  | — |  |  | 10,063 |  |  | — |  |  | 63,183 |
Other | 79 |  |  | — |  |  | 6,877 |  |  | — |  |  | 6,956 |
Total expenses | 55,800 |  |  | 201,035 |  |  | 1,948,352 |  |  | — |  |  | 2,205,187 |
Income from continuing operations before income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest | 272,740 |  |  | 78,987 |  |  | 251,795 |  |  | (323,410 | ) |  | 280,112 |
Income from unconsolidated entities | — |  |  | 1,557 |  |  | 16,597 |  |  | — |  |  | 18,154 |
Income tax benefit | 6,282 |  |  | — |  |  | — |  |  | — |  |  | 6,282 |
Income from continuing operations | 279,022 |  |  | 80,544 |  |  | 268,392 |  |  | (323,410 | ) |  | 304,548 |
Discontinued operations | 83,778 |  |  | 2,296 |  |  | (28,847 | ) |  | — |  |  | 57,227 |
Net income | 362,800 |  |  | 82,840 |  |  | 239,545 |  |  | (323,410 | ) |  | 361,775 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (1,025 | ) |  | — |  |  | (1,025 | )
Net income attributable to common stockholders | $ | 362,800 |  |  | $ | 82,840 |  |  | $ | 240,570 |  |  | $ | (323,410 | ) |  | $ | 362,800 |
CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2011
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |
Rental income | $ | 2,471 |  |  | $ | 270,745 |  |  | $ | 530,239 |  |  | $ | — |  |  | $ | 803,455 |
Resident fees and services | — |  |  | — |  |  | 868,095 |  |  | — |  |  | 868,095 |
Medical office building and other services revenues | — |  |  | — |  |  | 36,471 |  |  | — |  |  | 36,471 |
Income from loans and investments | 6,305 |  |  | 8,570 |  |  | 19,540 |  |  | — |  |  | 34,415 |
Equity earnings in affiliates | 231,773 |  |  | — |  |  | 1,447 |  |  | (233,220 | ) |  | — |
Interest and other income | 208 |  |  | 57 |  |  | 952 |  |  | — |  |  | 1,217 |
Total revenues | 240,757 |  |  | 279,372 |  |  | 1,456,744 |  |  | (233,220 | ) |  | 1,743,653 |
Expenses: |  |  |  |  |  |  |  |  |
Interest | (1,897 | ) |  | 68,153 |  |  | 163,090 |  |  | — |  |  | 229,346 |
Depreciation and amortization | 1,714 |  |  | 31,752 |  |  | 414,198 |  |  | — |  |  | 447,664 |
Property-level operating expenses | — |  |  | 510 |  |  | 646,683 |  |  | — |  |  | 647,193 |
Medical office building services costs | — |  |  | — |  |  | 27,082 |  |  | — |  |  | 27,082 |
General, administrative and professional fees | (5,328 | ) |  | 29,336 |  |  | 50,529 |  |  | — |  |  | 74,537 |
Loss on extinguishment of debt, net | 2,071 |  |  | 8,769 |  |  | 16,764 |  |  | — |  |  | 27,604 |
Litigation proceeds, net | (202,259 | ) |  | — |  |  | — |  |  | — |  |  | (202,259 | )
Merger-related expenses and deal costs | 111,845 |  |  | — |  |  | 42,078 |  |  | — |  |  | 153,923 |
Other | 778 |  |  | — |  |  | 6,492 |  |  | — |  |  | 7,270 |
Total expenses | (93,076 | ) |  | 138,520 |  |  | 1,366,916 |  |  | — |  |  | 1,412,360 |
Income from continuing operations before income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest | 333,833 |  |  | 140,852 |  |  | 89,828 |  |  | (233,220 | ) |  | 331,293 |
Loss from unconsolidated entities | — |  |  | (52 | ) |  | — |  |  | — |  |  | (52 | )
Income tax benefit | 30,660 |  |  | — |  |  | — |  |  | — |  |  | 30,660 |
Income from continuing operations | 364,493 |  |  | 140,800 |  |  | 89,828 |  |  | (233,220 | ) |  | 361,901 |
Discontinued operations | — |  |  | 3,881 |  |  | (2,521 | ) |  | — |  |  | 1,360 |
Net income | 364,493 |  |  | 144,681 |  |  | 87,307 |  |  | (233,220 | ) |  | 363,261 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (1,232 | ) |  | — |  |  | (1,232 | )
Net income attributable to common stockholders | $ | 364,493 |  |  | $ | 144,681 |  |  | $ | 88,539 |  |  | $ | (233,220 | ) |  | $ | 364,493 |
CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2010
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |
Rental income | $ | 2,409 |  |  | $ | 264,250 |  |  | $ | 256,680 |  |  | $ | — |  |  | $ | 523,339 |
Resident fees and services | — |  |  | — |  |  | 446,301 |  |  | — |  |  | 446,301 |
Medical office building and other services revenues | — |  |  | — |  |  | 14,098 |  |  | — |  |  | 14,098 |
Income from loans and investments | 5,666 |  |  | 7,789 |  |  | 2,957 |  |  | — |  |  | 16,412 |
Equity earnings in affiliates | 258,441 |  |  | — |  |  | 1,914 |  |  | (260,355 | ) |  | — |
Interest and other income | 332 |  |  | 83 |  |  | 69 |  |  | — |  |  | 484 |
Total revenues | 266,848 |  |  | 272,122 |  |  | 722,019 |  |  | (260,355 | ) |  | 1,000,634 |
Expenses: |  |  |  |  |  |  |  |  |
Interest | 1,758 |  |  | 47,246 |  |  | 123,470 |  |  | — |  |  | 172,474 |
Depreciation and amortization | 1,635 |  |  | 32,771 |  |  | 166,276 |  |  | — |  |  | 200,682 |
Property-level operating expenses | — |  |  | 519 |  |  | 315,434 |  |  | — |  |  | 315,953 |
Medical office building services costs | — |  |  | — |  |  | 9,518 |  |  | — |  |  | 9,518 |
General, administrative and professional fees | (2,549 | ) |  | 21,618 |  |  | 30,761 |  |  | — |  |  | 49,830 |
Loss on extinguishment of debt, net | — |  |  | 8,993 |  |  | 798 |  |  | — |  |  | 9,791 |
Merger-related expenses and deal costs | 14,291 |  |  | — |  |  | 4,952 |  |  | — |  |  | 19,243 |
Other | 219 |  |  | — |  |  | 53 |  |  | — |  |  | 272 |
Total expenses | 15,354 |  |  | 111,147 |  |  | 651,262 |  |  | — |  |  | 777,763 |
Income from continuing operations before income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest | 251,494 |  |  | 160,975 |  |  | 70,757 |  |  | (260,355 | ) |  | 222,871 |
Loss from unconsolidated entities | — |  |  | (664 | ) |  | — |  |  | — |  |  | (664 | )
Income tax expense | (5,201 | ) |  | — |  |  | — |  |  | — |  |  | (5,201 | )
Income from continuing operations | 246,293 |  |  | 160,311 |  |  | 70,757 |  |  | (260,355 | ) |  | 217,006 |
Discontinued operations | (126 | ) |  | 31,088 |  |  | 1,761 |  |  | — |  |  | 32,723 |
Net income | 246,167 |  |  | 191,399 |  |  | 72,518 |  |  | (260,355 | ) |  | 249,729 |
Net income attributable to noncontrolling interest, net of tax | — |  |  | — |  |  | 3,562 |  |  | — |  |  | 3,562 |
Net income attributable to common stockholders | $ | 246,167 |  |  | $ | 191,399 |  |  | $ | 68,956 |  |  | $ | (260,355 | ) |  | $ | 246,167 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net income | $ | 362,800 |  |  | $ | 82,840 |  |  | $ | 239,545 |  |  | $ | (323,410 | ) |  | $ | 361,775 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation | — |  |  | — |  |  | 2,375 |  |  | — |  |  | 2,375 |
Change in unrealized gain on marketable debt securities | (1,296 | ) |  | — |  |  | — |  |  | — |  |  | (1,296 | )
Other | — |  |  | — |  |  | 213 |  |  | — |  |  | 213 |
Total other comprehensive (loss) income | (1,296 | ) |  | — |  |  | 2,588 |  |  | — |  |  | 1,292 |
Comprehensive income | 361,504 |  |  | 82,840 |  |  | 242,133 |  |  | (323,410 | ) |  | 363,067 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (1,025 | ) |  | — |  |  | (1,025 | )
Comprehensive income attributable to common stockholders | $ | 361,504 |  |  | $ | 82,840 |  |  | $ | 243,158 |  |  | $ | (323,410 | ) |  | $ | 364,092 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2011
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net income | $ | 364,493 |  |  | $ | 144,681 |  |  | $ | 87,307 |  |  | $ | (233,220 | ) |  | $ | 363,261 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation | — |  |  | — |  |  | (1,944 | ) |  | — |  |  | (1,944 | )
Change in unrealized gain on marketable debt securities | (2,691 | ) |  | — |  |  | — |  |  | — |  |  | (2,691 | )
Other | — |  |  | — |  |  | (171 | ) |  | — |  |  | (171 | )
Total other comprehensive loss | (2,691 | ) |  | — |  |  | (2,115 | ) |  | — |  |  | (4,806 | )
Comprehensive income | 361,802 |  |  | 144,681 |  |  | 85,192 |  |  | (233,220 | ) |  | 358,455 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (1,232 | ) |  | — |  |  | (1,232 | )
Comprehensive income attributable to common stockholders | $ | 361,802 |  |  | $ | 144,681 |  |  | $ | 86,424 |  |  | $ | (233,220 | ) |  | $ | 359,687 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2010
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net income | $ | 246,167 |  |  | $ | 191,399 |  |  | $ | 72,518 |  |  | $ | (260,355 | ) |  | $ | 249,729 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation | — |  |  | — |  |  | 6,951 |  |  | — |  |  | 6,951 |
Change in unrealized gain on marketable debt securities | 354 |  |  | — |  |  | — |  |  | — |  |  | 354 |
Other | — |  |  | — |  |  | (106 | ) |  | — |  |  | (106 | )
Total other comprehensive income | 354 |  |  | — |  |  | 6,845 |  |  | — |  |  | 7,199 |
Comprehensive income | 246,521 |  |  | 191,399 |  |  | 79,363 |  |  | (260,355 | ) |  | 256,928 |
Comprehensive income attributable to noncontrolling interest | — |  |  | — |  |  | 3,562 |  |  | — |  |  | 3,562 |
Comprehensive income attributable to common stockholders | $ | 246,521 |  |  | $ | 191,399 |  |  | $ | 75,801 |  |  | $ | (260,355 | ) |  | $ | 253,366 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net cash (used in) provided by operating activities | $ | (761 | ) |  | $ | 193,544 |  |  | $ | 800,033 |  |  | $ | — |  |  | $ | 992,816 |
Net cash used in investing activities | (1,364,125 | ) |  | (100 | ) |  | (805,464 | ) |  | — |  |  | (2,169,689 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net change in borrowings under revolving credit facility | — |  |  | 92,000 |  |  | (7,062 | ) |  | — |  |  | 84,938 |
Proceeds from debt | — |  |  | 2,364,360 |  |  | 346,045 |  |  | — |  |  | 2,710,405 |
Repayment of debt | — |  |  | (521,527 | ) |  | (671,496 | ) |  | — |  |  | (1,193,023 | )
Net change in intercompany debt | 2,151,815 |  |  | (2,085,801 | ) |  | (66,014 | ) |  | — |  |  | — |
Payment of deferred financing costs | — |  |  | (21,404 | ) |  | (2,366 | ) |  | — |  |  | (23,770 | )
Issuance of common stock, net | 342,469 |  |  | — |  |  | — |  |  | — |  |  | 342,469 |
Cash distribution (to) from affiliates | (398,071 | ) |  | (21,132 | ) |  | 419,203 |  |  | — |  |  | — |
Cash distribution to common stockholders | (728,546 | ) |  | — |  |  | — |  |  | — |  |  | (728,546 | )
Cash distribution to redeemable OP unitholders | (4,446 | ) |  | — |  |  | — |  |  | — |  |  | (4,446 | )
Purchases of redeemable OP units | (4,601 | ) |  | — |  |  | — |  |  | — |  |  | (4,601 | )
Distributions to noncontrolling interest | — |  |  | — |  |  | (5,215 | ) |  | — |  |  | (5,215 | )
Other | 20,665 |  |  | — |  |  | 38 |  |  | — |  |  | 20,703 |
Net cash provided by (used in) financing activities | 1,379,285 |  |  | (193,504 | ) |  | 13,133 |  |  | — |  |  | 1,198,914 |
Net increase (decrease) in cash and cash equivalents | 14,399 |  |  | (60 | ) |  | 7,702 |  |  | — |  |  | 22,041 |
Effect of foreign currency translation on cash and cash equivalents | — |  |  | 60 |  |  | — |  |  | — |  |  | 60 |
Cash and cash equivalents at beginning of period | 2,335 |  |  | — |  |  | 43,472 |  |  | — |  |  | 45,807 |
Cash and cash equivalents at end of period | $ | 16,734 |  |  | $ | — |  |  | $ | 51,174 |  |  | $ | — |  |  | $ | 67,908 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2011
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net cash provided by operating activities | $ | 124,784 |  |  | $ | 199,431 |  |  | $ | 448,982 |  |  | $ | — |  |  | $ | 773,197 |
Net cash (used in) provided by investing activities | (618,663 | ) |  | (500,879 | ) |  | 122,103 |  |  | — |  |  | (997,439 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net change in borrowings under revolving credit facilities | — |  |  | 405,000 |  |  | 132,452 |  |  | — |  |  | 537,452 |
Proceeds from debt | (230,000 | ) |  | 1,069,374 |  |  | 504,266 |  |  | — |  |  | 1,343,640 |
Repayment of debt | — |  |  | (206,500 | ) |  | (1,182,462 | ) |  | — |  |  | (1,388,962 | )
Net change in intercompany debt | 1,363,963 |  |  | (1,559,518 | ) |  | 195,555 |  |  | — |  |  | — |
Payment of deferred financing costs | — |  |  | (19,661 | ) |  | (379 | ) |  | — |  |  | (20,040 | )
Issuance of common stock, net | 299,847 |  |  | — |  |  | — |  |  | — |  |  | 299,847 |
Cash distribution (to) from affiliates | (417,763 | ) |  | 612,798 |  |  | (195,035 | ) |  | — |  |  | — |
Cash distribution to common stockholders | (521,046 | ) |  | — |  |  | — |  |  | — |  |  | (521,046 | )
Cash distribution to redeemable OP unitholders | (2,359 | ) |  | — |  |  | — |  |  | — |  |  | (2,359 | )
Purchases of redeemable OP units | — |  |  | — |  |  | (185 | ) |  | — |  |  | (185 | )
Distributions to noncontrolling interest | — |  |  | — |  |  | (2,556 | ) |  | — |  |  | (2,556 | )
Other | 2,489 |  |  | — |  |  | 2 |  |  | — |  |  | 2,491 |
Net cash provided by (used in) financing activities | 495,131 |  |  | 301,493 |  |  | (548,342 | ) |  | — |  |  | 248,282 |
Net increase in cash and cash equivalents | 1,252 |  |  | 45 |  |  | 22,743 |  |  | — |  |  | 24,040 |
Effect of foreign currency translation on cash and cash equivalents | — |  |  | (45 | ) |  | — |  |  | — |  |  | (45 | )
Cash and cash equivalents at beginning of period | 1,083 |  |  | — |  |  | 20,729 |  |  | — |  |  | 21,812 |
Cash and cash equivalents at end of period | $ | 2,335 |  |  | $ | — |  |  | $ | 43,472 |  |  | $ | — |  |  | $ | 45,807 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2010
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net cash provided by operating activities | $ | 14,092 |  |  | $ | 213,295 |  |  | $ | 220,235 |  |  | $ | — |  |  | $ | 447,622 |
Net cash used in investing activities | — |  |  | (266,609 | ) |  | (35,311 | ) |  | — |  |  | (301,920 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net change in borrowings under revolving credit facilities | — |  |  | 40,000 |  |  | (11,436 | ) |  | — |  |  | 28,564 |
Proceeds from debt | — |  |  | 595,712 |  |  | 1,670 |  |  | — |  |  | 597,382 |
Repayment of debt | — |  |  | (244,710 | ) |  | (280,050 | ) |  | — |  |  | (524,760 | )
Net change in intercompany debt | (95,762 | ) |  | (26,250 | ) |  | 122,012 |  |  | — |  |  | — |
Payment of deferred financing costs | — |  |  | (2,647 | ) |  | (47 | ) |  | — |  |  | (2,694 | )
Cash distribution from (to) affiliates | 405,433 |  |  | (391,842 | ) |  | (13,591 | ) |  | — |  |  | — |
Cash distribution to common stockholders | (336,085 | ) |  | — |  |  | — |  |  | — |  |  | (336,085 | )
Distributions to noncontrolling interest | — |  |  | — |  |  | (8,082 | ) |  | — |  |  | (8,082 | )
Other | 13,405 |  |  | — |  |  | 818 |  |  | — |  |  | 14,223 |
Net cash used in financing activities | (13,009 | ) |  | (29,737 | ) |  | (188,706 | ) |  | — |  |  | (231,452 | )
Net increase (decrease) in cash and cash equivalents | 1,083 |  |  | (83,051 | ) |  | (3,782 | ) |  | — |  |  | (85,750 | )
Effect of foreign currency translation on cash and cash equivalents | — |  |  | 165 |  |  | — |  |  | — |  |  | 165 |
Cash and cash equivalents at beginning of period | — |  |  | 82,886 |  |  | 24,511 |  |  | — |  |  | 107,397 |
Cash and cash equivalents at end of period | $ | 1,083 |  |  | $ | — |  |  | $ | 20,729 |  |  | $ | — |  |  | $ | 21,812 |

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