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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Real Estate Investments:    
Land $ 57,093 $ 43,031
Buildings and improvements 662,300 567,017
Accumulated depreciation and amortization (177,583) (158,204)
Net operating real estate property 541,810 451,844
Properties held-for-sale, net of accumulated depreciation and amortization: 2011 - $613; 2010 - $505 5,025 5,113
Net real estate property 546,835 456,957
Mortgage loans receivable, net of allowance for doubtful accounts: 2011 - $921; 2010 - $981 53,081 59,026
Real estate investments, net 599,916 515,983
Other Assets:    
Cash and cash equivalents 4,408 6,903
Debt issue costs, net 2,301 743
Interest receivable 1,494 1,571
Straight-line rent receivable, net of allowance for doubtful accounts: 2011 - $680; 2010 - $634 23,772 [1] 20,090 [1]
Prepaid expenses and other assets 7,852 8,162
Other assets related to properties held-for-sale, net of allowance for doubtful accounts: 2011 - $839; 2010 - $839 52 51
Notes receivable 817 1,283
Marketable securities 6,485 [2] 6,478 [2]
Total assets 647,097 561,264
LIABILITIES    
Bank borrowings 56,000 37,700
Senior unsecured notes 100,000 50,000
Bonds payable 3,200 3,730
Accrued interest 1,356 675
Earn-out liabilities 6,305  
Accrued expenses and other liabilities 11,400 9,737
Accrued expenses and other liabilities related to properties held-for-sale 126 132
Distributions payable 0 1,768
Total liabilities 178,387 103,742
Stockholders' equity:    
Preferred stock $0.01 par value: 15,000 shares authorized; shares issued and outstanding: 2011 - 2,000; 2010 - 5,536 38,500 126,913
Common stock: $0.01 par value; 45,000 shares authorized; shares issued and outstanding: 2011 - 30,346; 2010 - 26,345 303 263
Capital in excess of par value 507,343 398,599
Cumulative net income 672,743 623,491
Other 199 264
Cumulative distributions (752,340) (693,970)
Total LTC Properties, Inc. stockholders' equity 466,748 455,560
Non-controlling interests 1,962 1,962
Total equity 468,710 457,522
Total liabilities and equity $ 647,097 $ 561,264
[1] On December 31, 2011 and 2010, we had $3,060 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 12. Transactions with Related Party for further discussion.
[2] At December 31, 2011 and 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 12. Transactions with Related Party for further discussion.