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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:    
Rental income$ 19,620[1]$ 16,227[1]$ 57,139[1]$ 47,355[1]
Interest income from mortgage loans1,5821,8684,8515,683
Interest and other income227[2]264[2]872[2]838[2]
Total revenues21,42918,35962,86253,876
Expenses:    
Interest expense1,7948524,4411,672
Depreciation and amortization4,9744,01014,37411,618
(Recovery) provision for doubtful accounts(1)60(15)1,029
Acquisition costs604225117
Operating and other expenses2,1491,8966,8005,615
Total expenses8,9766,82225,82520,051
Income from continuing operations12,45311,53737,03733,825
Discontinued operations:    
(Loss) income from discontinued operations(30)25(198)(63)
Net (loss) income from discontinued operations(30)25(198)(63)
Net income12,42311,56236,83933,762
Income allocated to non-controlling interests(48)(48)(144)(144)
Net income attributable to LTC Properties, Inc.12,37511,51436,69533,618
Income allocated to participating securities(85)(54)(259)(155)
Income allocated to preferred stockholders(818)(5,889)(8,260)(13,459)
Net income available to common stockholders$ 11,472$ 5,571$ 28,176$ 20,004
Basic earnings per common share    
Continuing operations (in dollars per share)$ 0.38[3]$ 0.22[3]$ 0.98[3]$ 0.84[3]
Discontinued operations (in dollars per share)$ 0.00[3]$ 0.00[3]$ (0.01)[3]$ 0.00[3]
Net income available to common stockholders (in dollars per share)$ 0.38[3]$ 0.22[3]$ 0.98[3]$ 0.83[3]
Diluted earnings per common share    
Continuing operations (in dollars per share)$ 0.38[3]$ 0.22[3]$ 0.98[3]$ 0.84[3]
Discontinued operations (in dollars per share)$ 0.00[3]$ 0.00[3]$ (0.01)[3]$ 0.00[3]
Net income available to common stockholders (in dollars per share)$ 0.38[3]$ 0.22[3]$ 0.97[3]$ 0.83[3]
Weighted average shares used to calculate earnings per common share    
Basic (in shares)30,13724,93028,87423,959
Diluted (in shares)30,15624,94528,90224,055
[1]During the three and nine months ended September 30, 2011, we received $1,068 and $3,196, respectively, in rental income and recorded $57 and $181, respectively, in straight-line rental income from a lessee that qualifies as a related party. During the three and nine months ended September 30, 2010, we received $1,042 and $3,118, respectively, in rental income and recorded $83 and $259, respectively, in straight-line rental income from a lessee that qualifies as a related party. The lessee's Chief Executive Officer is on our Board of Directors. See Note 9. Transactions with Related Party for further discussion.
[2]During each of the three and nine months ended September 30, 2011 and 2010, we recognized $180 and $540, respectively, of interest income from 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.
[3]NOTE: Computations of per share amounts from continuing operations, discontinued operations and net income are made independently. Therefore, the sum of per share amounts from continuing operations and discontinued operations may not agree with the per share amounts from net income available to common stockholders.