XML 64 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
Rental income $ 422,166 $ 340,113 $ 297,399
Residents fees 27,851    
Total revenues 450,017 340,113 297,399
Expenses:      
Depreciation 113,265 90,409 78,583
Property operating expenses 68,967 20,169 14,901
General and administrative 26,041 21,677 19,825
Acquisition related costs 12,239 3,610 3,327
Impairment of assets 1,990 5,965 15,530
Total expenses 222,502 141,830 132,166
Operating income 227,515 198,283 165,233
Interest and other income 1,451 844 935
Interest expense (98,262) (80,017) (56,404)
Loss on early extinguishment of debt (427) (2,433)  
Gain on sale of properties 21,315 109 397
Equity in earnings (losses) of an investee 139 (1) (134)
Income before income tax expense 151,731 116,785 110,027
Income tax expense (312) (300) (312)
Net income $ 151,419 $ 116,485 $ 109,715
Weighted average shares outstanding, (in shares) 149,577 128,092 121,863
Basic and diluted earnings per share:      
Net income (in dollars per share) $ 1.01 $ 0.91 $ 0.90