v2.4.0.8

CONDENSED CONSOLIDATING INFORMATION (unaudited) (Tables) | 6 Months Ended
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Jun. 30, 2013
Condensed Consolidating Information [Abstract] |
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2013
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Assets |  |  |  |  |  |  |  |  |
Net real estate investments | $ | 7,312 |  |  | $ | 392,145 |  |  | $ | 17,299,987 |  |  | $ | — |  |  | $ | 17,699,444 |
Cash and cash equivalents | 9,785 |  |  | — |  |  | 52,636 |  |  | — |  |  | 62,421 |
Escrow deposits and restricted cash | 6,290 |  |  | 1,561 |  |  | 86,641 |  |  | — |  |  | 94,492 |
Deferred financing costs, net | 758 |  |  | 41,571 |  |  | 8,492 |  |  | — |  |  | 50,821 |
Investment in and advances to affiliates | 10,632,033 |  |  | 1,867,251 |  |  | — |  |  | (12,499,284 | ) |  | — |
Other assets | 37,461 |  |  | 9,130 |  |  | 842,813 |  |  | — |  |  | 889,404 |
Total assets | $ | 10,693,639 |  |  | $ | 2,311,658 |  |  | $ | 18,290,569 |  |  | $ | (12,499,284 | ) |  | $ | 18,796,582 |
Liabilities and equity |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Senior notes payable and other debt | $ | — |  |  | $ | 5,051,466 |  |  | $ | 3,368,607 |  |  | $ | — |  |  | $ | 8,420,073 |
Intercompany loans | 4,062,286 |  |  | (4,678,051 | ) |  | 615,765 |  |  | — |  |  | — |
Accrued interest | — |  |  | 34,836 |  |  | 16,024 |  |  | — |  |  | 50,860 |
Accounts payable and other liabilities | 86,823 |  |  | 11,195 |  |  | 789,296 |  |  | — |  |  | 887,314 |
Deferred income taxes | 247,591 |  |  | — |  |  | — |  |  | — |  |  | 247,591 |
Total liabilities | 4,396,700 |  |  | 419,446 |  |  | 4,789,692 |  |  | — |  |  | 9,605,838 |
Redeemable OP unitholder and noncontrolling interests | — |  |  | — |  |  | 184,217 |  |  | — |  |  | 184,217 |
Total equity | 6,296,939 |  |  | 1,892,212 |  |  | 13,316,660 |  |  | (12,499,284 | ) |  | 9,006,527 |
Total liabilities and equity | $ | 10,693,639 |  |  | $ | 2,311,658 |  |  | $ | 18,290,569 |  |  | $ | (12,499,284 | ) |  | $ | 18,796,582 |
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 STATEMENT OF INCOME | 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 STATEMENT OF INCOME For the Three Months Ended June 30, 2013
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |
Rental income | $ | 619 |  |  | $ | 70,342 |  |  | $ | 254,224 |  |  | $ | — |  |  | $ | 325,185 |
Resident fees and services | — |  |  | — |  |  | 341,594 |  |  | — |  |  | 341,594 |
Medical office building and other services revenue | — |  |  | — |  |  | 3,537 |  |  | — |  |  | 3,537 |
Income from loans and investments | 1,159 |  |  | 493 |  |  | 13,081 |  |  | — |  |  | 14,733 |
Equity earnings in affiliates | 105,135 |  |  | — |  |  | 223 |  |  | (105,358 | ) |  | — |
Interest and other income | 259 |  |  | 5 |  |  | 533 |  |  | — |  |  | 797 |
Total revenues | 107,172 |  |  | 70,840 |  |  | 613,192 |  |  | (105,358 | ) |  | 685,846 |
Expenses: |  |  |  |  |  |  |  |  |
Interest | (474 | ) |  | 35,958 |  |  | 47,562 |  |  | — |  |  | 83,046 |
Depreciation and amortization | 1,213 |  |  | 7,734 |  |  | 163,759 |  |  | — |  |  | 172,706 |
Property-level operating expenses | — |  |  | 140 |  |  | 269,598 |  |  | — |  |  | 269,738 |
Medical office building services costs | — |  |  | — |  |  | 1,667 |  |  | — |  |  | 1,667 |
General, administrative and professional fees | 1,155 |  |  | 5,165 |  |  | 21,007 |  |  | — |  |  | 27,327 |
Gain on extinguishment of debt | — |  |  | — |  |  | (720 | ) |  | — |  |  | (720 | )
Merger-related expenses and deal costs | 4,227 |  |  | — |  |  | 2,440 |  |  | — |  |  | 6,667 |
Other | 254 |  |  | — |  |  | 4,131 |  |  | — |  |  | 4,385 |
Total expenses | 6,375 |  |  | 48,997 |  |  | 509,444 |  |  | — |  |  | 564,816 |
Income from continuing operations before income/loss from unconsolidated entities, income taxes and noncontrolling interest | 100,797 |  |  | 21,843 |  |  | 103,748 |  |  | (105,358 | ) |  | 121,030 |
Income (loss) from unconsolidated entities | — |  |  | 217 |  |  | (723 | ) |  | — |  |  | (506 | )
Income tax benefit | 12,064 |  |  | — |  |  | — |  |  | — |  |  | 12,064 |
Income from continuing operations | 112,861 |  |  | 22,060 |  |  | 103,025 |  |  | (105,358 | ) |  | 132,588 |
Discontinued operations | 1,719 |  |  | 209 |  |  | (19,983 | ) |  | — |  |  | (18,055 | )
Net income | 114,580 |  |  | 22,269 |  |  | 83,042 |  |  | (105,358 | ) |  | 114,533 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (47 | ) |  | — |  |  | (47 | )
Net income attributable to common stockholders | $ | 114,580 |  |  | $ | 22,269 |  |  | $ | 83,089 |  |  | $ | (105,358 | ) |  | $ | 114,580 |
CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |
Rental income | $ | 634 |  |  | $ | 68,939 |  |  | $ | 224,098 |  |  | $ | — |  |  | $ | 293,671 |
Resident fees and services | — |  |  | — |  |  | 303,437 |  |  | — |  |  | 303,437 |
Medical office building and other services revenue | — |  |  | — |  |  | 6,639 |  |  | — |  |  | 6,639 |
Income from loans and investments | 951 |  |  | 560 |  |  | 6,641 |  |  | — |  |  | 8,152 |
Equity earnings in affiliates | 51,602 |  |  | — |  |  | 172 |  |  | (51,774 | ) |  | — |
Interest and other income | 56 |  |  | 5 |  |  | 4 |  |  | — |  |  | 65 |
Total revenues | 53,243 |  |  | 69,504 |  |  | 540,991 |  |  | (51,774 | ) |  | 611,964 |
Expenses: |  |  |  |  |  |  |  |  |
Interest | (1,513 | ) |  | 23,820 |  |  | 50,460 |  |  | — |  |  | 72,767 |
Depreciation and amortization | 810 |  |  | 13,138 |  |  | 173,419 |  |  | — |  |  | 187,367 |
Property-level operating expenses | — |  |  | 118 |  |  | 236,534 |  |  | — |  |  | 236,652 |
Medical office building services costs | — |  |  | — |  |  | 3,839 |  |  | — |  |  | 3,839 |
General, administrative and professional fees | 2,907 |  |  | 7,114 |  |  | 16,402 |  |  | — |  |  | 26,423 |
Loss on extinguishment of debt | — |  |  | 9,989 |  |  | — |  |  | — |  |  | 9,989 |
Merger-related expenses and deal costs | 28,689 |  |  | — |  |  | 7,979 |  |  | — |  |  | 36,668 |
Other | (36 | ) |  | — |  |  | 1,546 |  |  | — |  |  | 1,510 |
Total expenses | 30,857 |  |  | 54,179 |  |  | 490,179 |  |  | — |  |  | 575,215 |
Income from continuing operations before income from unconsolidated entities, income taxes and noncontrolling interest | 22,386 |  |  | 15,325 |  |  | 50,812 |  |  | (51,774 | ) |  | 36,749 |
Income from unconsolidated entities | — |  |  | 514 |  |  | — |  |  | — |  |  | 514 |
Income tax benefit | 5,179 |  |  | — |  |  | — |  |  | — |  |  | 5,179 |
Income from continuing operations | 27,565 |  |  | 15,839 |  |  | 50,812 |  |  | (51,774 | ) |  | 42,442 |
Discontinued operations | 46,460 |  |  | 1,315 |  |  | (16,481 | ) |  | — |  |  | 31,294 |
Net income | 74,025 |  |  | 17,154 |  |  | 34,331 |  |  | (51,774 | ) |  | 73,736 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (289 | ) |  | — |  |  | (289 | )
Net income attributable to common stockholders | $ | 74,025 |  |  | $ | 17,154 |  |  | $ | 34,620 |  |  | $ | (51,774 | ) |  | $ | 74,025 |
CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2013
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |
Rental income | $ | 1,259 |  |  | $ | 140,075 |  |  | $ | 508,518 |  |  | $ | — |  |  | $ | 649,852 |
Resident fees and services | — |  |  | — |  |  | 680,764 |  |  | — |  |  | 680,764 |
Medical office building and other services revenue | — |  |  | — |  |  | 7,185 |  |  | — |  |  | 7,185 |
Income from loans and investments | 1,262 |  |  | 787 |  |  | 28,787 |  |  | — |  |  | 30,836 |
Equity earnings in affiliates | 221,203 |  |  | — |  |  | 473 |  |  | (221,676 | ) |  | — |
Interest and other income | 297 |  |  | 11 |  |  | 1,527 |  |  | — |  |  | 1,835 |
Total revenues | 224,021 |  |  | 140,873 |  |  | 1,227,254 |  |  | (221,676 | ) |  | 1,370,472 |
Expenses: |  |  |  |  |  |  |  |  |
Interest | (941 | ) |  | 68,485 |  |  | 94,908 |  |  | — |  |  | 162,452 |
Depreciation and amortization | 2,292 |  |  | 15,167 |  |  | 334,036 |  |  | — |  |  | 351,495 |
Property-level operating expenses | — |  |  | 242 |  |  | 536,945 |  |  | — |  |  | 537,187 |
Medical office building services costs | — |  |  | — |  |  | 3,306 |  |  | — |  |  | 3,306 |
General, administrative and professional fees | 1,143 |  |  | 10,786 |  |  | 44,172 |  |  | — |  |  | 56,101 |
Gain on extinguishment of debt | — |  |  | — |  |  | (720 | ) |  | — |  |  | (720 | )
Merger-related expenses and deal costs | 6,976 |  |  | — |  |  | 3,953 |  |  | — |  |  | 10,929 |
Other | 293 |  |  | 21 |  |  | 8,658 |  |  | — |  |  | 8,972 |
Total expenses | 9,763 |  |  | 94,701 |  |  | 1,025,258 |  |  | — |  |  | 1,129,722 |
Income from continuing operations before income/loss from unconsolidated entities, income taxes and noncontrolling interest | 214,258 |  |  | 46,172 |  |  | 201,996 |  |  | (221,676 | ) |  | 240,750 |
Income (loss) from unconsolidated entities | — |  |  | 505 |  |  | (82 | ) |  | — |  |  | 423 |
Income tax benefit | 10,320 |  |  | — |  |  | — |  |  | — |  |  | 10,320 |
Income from continuing operations | 224,578 |  |  | 46,677 |  |  | 201,914 |  |  | (221,676 | ) |  | 251,493 |
Discontinued operations | 2,195 |  |  | 604 |  |  | (26,661 | ) |  | — |  |  | (23,862 | )
Net income | 226,773 |  |  | 47,281 |  |  | 175,253 |  |  | (221,676 | ) |  | 227,631 |
Net income attributable to noncontrolling interest | — |  |  | — |  |  | 858 |  |  | — |  |  | 858 |
Net income attributable to common stockholders | $ | 226,773 |  |  | $ | 47,281 |  |  | $ | 174,395 |  |  | $ | (221,676 | ) |  | $ | 226,773 |
CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Revenues: |  |  |  |  |  |  |  |  |
Rental income | $ | 1,258 |  |  | $ | 136,374 |  |  | $ | 423,241 |  |  | $ | — |  |  | $ | 560,873 |
Resident fees and services | — |  |  | — |  |  | 588,630 |  |  | — |  |  | 588,630 |
Medical office building and other services revenue | — |  |  | — |  |  | 12,247 |  |  | — |  |  | 12,247 |
Income from loans and investments | 1,890 |  |  | 1,029 |  |  | 13,269 |  |  | — |  |  | 16,188 |
Equity earnings in affiliates | 112,778 |  |  | — |  |  | 219 |  |  | (112,997 | ) |  | — |
Interest and other income | 85 |  |  | 10 |  |  | 17 |  |  | — |  |  | 112 |
Total revenues | 116,011 |  |  | 137,413 |  |  | 1,037,623 |  |  | (112,997 | ) |  | 1,178,050 |
Expenses: |  |  |  |  |  |  |  |  |
Interest | (2,236 | ) |  | 44,939 |  |  | 97,975 |  |  | — |  |  | 140,678 |
Depreciation and amortization | 1,518 |  |  | 20,769 |  |  | 325,276 |  |  | — |  |  | 347,563 |
Property-level operating expenses | — |  |  | 241 |  |  | 452,248 |  |  | — |  |  | 452,489 |
Medical office building services costs | — |  |  | — |  |  | 6,827 |  |  | — |  |  | 6,827 |
General, administrative and professional fees | 3,810 |  |  | 14,112 |  |  | 30,699 |  |  | — |  |  | 48,621 |
Loss (gain) on extinguishment of debt | — |  |  | 39,720 |  |  | (187 | ) |  | — |  |  | 39,533 |
Merger-related expenses and deal costs | 30,053 |  |  | — |  |  | 14,596 |  |  | — |  |  | 44,649 |
Other | 1 |  |  | — |  |  | 3,085 |  |  | — |  |  | 3,086 |
Total expenses | 33,146 |  |  | 119,781 |  |  | 930,519 |  |  | — |  |  | 1,083,446 |
Income from continuing operations before income from unconsolidated entities, income taxes and noncontrolling interest | 82,865 |  |  | 17,632 |  |  | 107,104 |  |  | (112,997 | ) |  | 94,604 |
Income from unconsolidated entities | — |  |  | 831 |  |  | — |  |  | — |  |  | 831 |
Income tax expense | (6,159 | ) |  | — |  |  | — |  |  | — |  |  | (6,159 | )
Income from continuing operations | 76,706 |  |  | 18,463 |  |  | 107,104 |  |  | (112,997 | ) |  | 89,276 |
Discontinued operations | 87,945 |  |  | 3,426 |  |  | (16,819 | ) |  | — |  |  | 74,552 |
Net income | 164,651 |  |  | 21,889 |  |  | 90,285 |  |  | (112,997 | ) |  | 163,828 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (823 | ) |  | — |  |  | (823 | )
Net income attributable to common stockholders | $ | 164,651 |  |  | $ | 21,889 |  |  | $ | 91,108 |  |  | $ | (112,997 | ) |  | $ | 164,651 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2013
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net income | $ | 114,580 |  |  | $ | 22,269 |  |  | $ | 83,042 |  |  | $ | (105,358 | ) |  | $ | 114,533 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation | — |  |  | — |  |  | (2,722 | ) |  | — |  |  | (2,722 | )
Change in unrealized gain on marketable debt securities | (868 | ) |  | — |  |  | — |  |  | — |  |  | (868 | )
Other | — |  |  | — |  |  | 1,514 |  |  | — |  |  | 1,514 |
Total other comprehensive loss | (868 | ) |  | — |  |  | (1,208 | ) |  | — |  |  | (2,076 | )
Comprehensive income | 113,712 |  |  | 22,269 |  |  | 81,834 |  |  | (105,358 | ) |  | 112,457 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (47 | ) |  | — |  |  | (47 | )
Comprehensive income attributable to common stockholders | $ | 113,712 |  |  | $ | 22,269 |  |  | $ | 81,881 |  |  | $ | (105,358 | ) |  | $ | 112,504 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net income | $ | 74,025 |  |  | $ | 17,154 |  |  | $ | 34,331 |  |  | $ | (51,774 | ) |  | $ | 73,736 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation | — |  |  | — |  |  | (1,607 | ) |  | — |  |  | (1,607 | )
Change in unrealized gain on marketable debt securities | (403 | ) |  | — |  |  | — |  |  | — |  |  | (403 | )
Other | — |  |  | — |  |  | (512 | ) |  | — |  |  | (512 | )
Total other comprehensive loss | (403 | ) |  | — |  |  | (2,119 | ) |  | — |  |  | (2,522 | )
Comprehensive income | 73,622 |  |  | 17,154 |  |  | 32,212 |  |  | (51,774 | ) |  | 71,214 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (289 | ) |  | — |  |  | (289 | )
Comprehensive income attributable to common stockholders | $ | 73,622 |  |  | $ | 17,154 |  |  | $ | 32,501 |  |  | $ | (51,774 | ) |  | $ | 71,503 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2013
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net income | $ | 226,773 |  |  | $ | 47,281 |  |  | $ | 175,253 |  |  | $ | (221,676 | ) |  | $ | 227,631 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation | — |  |  | — |  |  | (4,813 | ) |  | — |  |  | (4,813 | )
Change in unrealized gain on marketable debt securities | (807 | ) |  | — |  |  | — |  |  | — |  |  | (807 | )
Other | — |  |  | — |  |  | 2,018 |  |  | — |  |  | 2,018 |
Total other comprehensive loss | (807 | ) |  | — |  |  | (2,795 | ) |  | — |  |  | (3,602 | )
Comprehensive income | 225,966 |  |  | 47,281 |  |  | 172,458 |  |  | (221,676 | ) |  | 224,029 |
Comprehensive income attributable to noncontrolling interest | — |  |  | — |  |  | 858 |  |  | — |  |  | 858 |
Comprehensive income attributable to common stockholders | $ | 225,966 |  |  | $ | 47,281 |  |  | $ | 171,600 |  |  | $ | (221,676 | ) |  | $ | 223,171 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net income | $ | 164,651 |  |  | $ | 21,889 |  |  | $ | 90,285 |  |  | $ | (112,997 | ) |  | $ | 163,828 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |
Foreign currency translation | — |  |  | — |  |  | 342 |  |  | — |  |  | 342 |
Change in unrealized gain on marketable debt securities | (711 | ) |  | — |  |  | — |  |  | — |  |  | (711 | )
Other | — |  |  | — |  |  | (289 | ) |  | — |  |  | (289 | )
Total other comprehensive (loss) income | (711 | ) |  | — |  |  | 53 |  |  | — |  |  | (658 | )
Comprehensive income | 163,940 |  |  | 21,889 |  |  | 90,338 |  |  | (112,997 | ) |  | 163,170 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (823 | ) |  | — |  |  | (823 | )
Comprehensive income attributable to common stockholders | $ | 163,940 |  |  | $ | 21,889 |  |  | $ | 91,161 |  |  | $ | (112,997 | ) |  | $ | 163,993 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2013
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net cash (used in) provided by operating activities | $ | (23,942 | ) |  | $ | 77,988 |  |  | $ | 453,642 |  |  | $ | — |  |  | $ | 507,688 |
Net cash (used in) provided by investing activities | (266,378 | ) |  | (1,773 | ) |  | 124,561 |  |  | — |  |  | (143,590 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net change in borrowings under revolving credit facility | — |  |  | (279,000 | ) |  | (1,926 | ) |  | — |  |  | (280,926 | )
Proceeds from debt | — |  |  | 758,460 |  |  | 159,995 |  |  | — |  |  | 918,455 |
Repayment of debt | (11,420 | ) |  | — |  |  | (674,098 | ) |  | — |  |  | (685,518 | )
Net change in intercompany debt | 637,204 |  |  | (551,660 | ) |  | (85,544 | ) |  | — |  |  | — |
Payment of deferred financing costs | — |  |  | (11,327 | ) |  | (1,670 | ) |  | — |  |  | (12,997 | )
Issuance of common stock, net | 82,384 |  |  | — |  |  | — |  |  | — |  |  | 82,384 |
Cash distribution (to) from affiliates | (36,854 | ) |  | 7,401 |  |  | 29,453 |  |  | — |  |  | — |
Cash distribution to common stockholders | (392,230 | ) |  | — |  |  | — |  |  | — |  |  | (392,230 | )
Cash distribution to redeemable OP unitholders | (2,313 | ) |  | — |  |  | — |  |  | — |  |  | (2,313 | )
Purchases of redeemable OP units | (208 | ) |  | — |  |  | — |  |  | — |  |  | (208 | )
Contributions from noncontrolling interest | — |  |  | — |  |  | 2,094 |  |  | — |  |  | 2,094 |
Distributions to noncontrolling interest | — |  |  | — |  |  | (5,045 | ) |  | — |  |  | (5,045 | )
Other | 6,808 |  |  | — |  |  | — |  |  | — |  |  | 6,808 |
Net cash provided by (used in) financing activities | 283,371 |  |  | (76,126 | ) |  | (576,741 | ) |  | — |  |  | (369,496 | )
Net (decrease) increase in cash and cash equivalents | (6,949 | ) |  | 89 |  |  | 1,462 |  |  | — |  |  | (5,398 | )
Effect of foreign currency translation on cash and cash equivalents | — |  |  | (89 | ) |  | — |  |  | — |  |  | (89 | )
Cash and cash equivalents at beginning of period | 16,734 |  |  | — |  |  | 51,174 |  |  | — |  |  | 67,908 |
Cash and cash equivalents at end of period | $ | 9,785 |  |  | $ | — |  |  | $ | 52,636 |  |  | $ | — |  |  | $ | 62,421 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2012
| Ventas, Inc. |  | Ventas Issuers |  | Ventas Subsidiaries |  | Consolidated Elimination |  | Consolidated
| (In thousands)
Net cash (used in) provided by operating activities | $ | (19,090 | ) |  | $ | 103,802 |  |  | $ | 376,096 |  |  | $ | — |  |  | $ | 460,808 |
Net cash used in investing activities | (906,694 | ) |  | (17 | ) |  | (68,340 | ) |  | — |  |  | (975,051 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net change in borrowings under revolving credit facility | — |  |  | (84,500 | ) |  | (4,154 | ) |  | — |  |  | (88,654 | )
Proceeds from debt | — |  |  | 1,184,568 |  |  | 84,747 |  |  | — |  |  | 1,269,315 |
Repayment of debt | — |  |  | (521,527 | ) |  | (124,195 | ) |  | — |  |  | (645,722 | )
Net change in intercompany debt | 935,981 |  |  | (588,599 | ) |  | (347,382 | ) |  | — |  |  | — |
Payment of deferred financing costs | — |  |  | (2,600 | ) |  | (380 | ) |  | — |  |  | (2,980 | )
Cash distribution (to) from affiliates | (1,984 | ) |  | (91,145 | ) |  | 93,129 |  |  | — |  |  | — |
Issuance of common stock, net | 342,469 |  |  | — |  |  | — |  |  | — |  |  | 342,469 |
Cash distribution to common stockholders | (361,957 | ) |  | — |  |  | — |  |  | — |  |  | (361,957 | )
Cash distribution to redeemable OP unitholders | (2,241 | ) |  | — |  |  | — |  |  | — |  |  | (2,241 | )
Purchases of redeemable OP units | (611 | ) |  | — |  |  | — |  |  | — |  |  | (611 | )
Distributions to noncontrolling interest | — |  |  | — |  |  | (2,907 | ) |  | — |  |  | (2,907 | )
Other | 14,509 |  |  | — |  |  | — |  |  | — |  |  | 14,509 |
Net cash provided by (used in) financing activities | 926,166 |  |  | (103,803 | ) |  | (301,142 | ) |  | — |  |  | 521,221 |
Net increase (decrease) in cash and cash equivalents | 382 |  |  | (18 | ) |  | 6,614 |  |  | — |  |  | 6,978 |
Effect of foreign currency translation on cash and cash equivalents | — |  |  | 18 |  |  | — |  |  | — |  |  | 18 |
Cash and cash equivalents at beginning of period | 2,335 |  |  | — |  |  | 43,472 |  |  | — |  |  | 45,807 |
Cash and cash equivalents at end of period | $ | 2,717 |  |  | $ | — |  |  | $ | 50,086 |  |  | $ | — |  |  | $ | 52,803 |

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