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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
Real estate investments:  
Land$ 50,409$ 43,031
Buildings and improvements634,418567,017
Accumulated depreciation and amortization(172,480)(158,204)
Net operating real estate property512,347451,844
Properties held-for-sale, net of accumulated depreciation and amortization: 2011 - $613; 2010 - $5055,0185,113
Net real estate property517,365456,957
Mortgage loans receivable, net of allowance for doubtful accounts: 2011 - $931; 2010 - $98154,05659,026
Real estate investments, net571,421515,983
Other assets:  
Cash and cash equivalents5,2146,903
Debt issue costs, net2,377743
Interest receivable1,3391,571
Straight-line rent receivable, net of allowance for doubtful accounts: 2011 - $668; 2010 - $63422,822[1]20,090[1]
Prepaid expenses and other assets8,5418,162
Other assets related to properties held-for-sale, net of allowance for doubtful accounts: 2011 - $839; 2010 - $8395151
Notes receivable7681,283
Marketable securities6,483[2]6,478[2]
Total assets619,016561,264
LIABILITIES  
Bank borrowings28,40037,700
Senior unsecured notes100,00050,000
Bonds payable3,2003,730
Accrued interest1,014675
Earn-out liabilities6,195 
Accrued expenses and other liabilities10,8729,737
Accrued expenses and other liabilities related to properties held-for-sale93132
Distributions payable 1,768
Total liabilities149,774103,742
Stockholders' equity:  
Preferred stock $0.01 par value; 15,000 shares authorized; shares issued and outstanding: 2011 - 2,000; 2010 - 5,53638,500126,913
Common stock: $0.01 par value; 45,000 shares authorized; shares issued and outstanding: 2011 - 30,341; 2010 - 26,345303263
Capital in excess of par value506,851398,599
Cumulative net income660,186623,491
Other219264
Cumulative distributions(738,779)(693,970)
Total LTC Properties, Inc. stockholders' equity467,280455,560
Non-controlling interests1,9621,962
Total equity469,242457,522
Total liabilities and equity$ 619,016$ 561,264
[1]On September 30, 2011 and December 31, 2010, we had $3,002 and $2,822 respectively, in straight-line rent receivable from a lessee that qualifies as a related party because the lessee's Chief Executive Officer is on our Board of Directors. See Note 9. Transactions with Related Party for further discussion.
[2]At September 30, 2011 and December 31, 2010, we had a $6,500 face value investment in marketable securities issued by an entity that qualifies as a related party because the entity's Chief Executive Officer is on our Board of Directors. See Note 9. Transactions with Related Party for further discussion.