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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 82,823 $ 54,543
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 53,296 44,634
Amortization of deferred financing fees and debt discounts 2,144 1,199
Amortization of acquired real estate leases (371) 532
Loss on early extinguishment of debt 427 2,433
Impairment of assets 166 1,095
Gain on sale of properties (21,315)  
Equity in (earnings) losses of an investee (83) 52
Change in assets and liabilities:    
Restricted cash (718) (708)
Other assets (2,605) (2,566)
Accrued interest 5,100 916
Other liabilities 14,319 4,572
Cash provided by operating activities 133,183 106,702
Cash flows from investing activities:    
Acquisitions (324,733) (31,289)
Loan receivable (41,000)  
Principal repayments on loan receivable 32,000  
Investment in Five Star Quality Care, Inc. (5,000)  
Investment in Affiliates Insurance Company   (44)
Proceeds from sale of properties 38,663  
Cash used for investing activities (300,070) (31,333)
Cash flows from financing activities:    
Costs of issuing common shares (103)  
Proceeds from issuance of unsecured senior notes, net 247,327 197,852
Proceeds from borrowings on revolving credit facility 365,000 33,000
Repayments of borrowings on revolving credit facility (309,000) (93,000)
Redemption of senior notes   (98,780)
Repayment of other debt (4,541) (4,232)
Payment of deferred financing fees (9,604) (3,752)
Distributions to shareholders (104,976) (91,721)
Cash provided by (used for) financing activities 184,103 (60,633)
Increase in cash and cash equivalents 17,216 14,736
Cash and cash equivalents at beginning of period 10,866 10,494
Cash and cash equivalents at end of period 28,082 25,230
Supplemental cash flow information:    
Interest paid 38,863 38,013
Income taxes paid 256 225
Non-cash investing activities:    
Acquisitions funded by assumed debt (48,062) (2,458)
Non-cash financing activities:    
Assumption of mortgage notes payable 48,062 2,458
Issuance of common shares $ 441 $ 802