Minority interest - 131
Benefit for income taxes (29,887) (20,568)
Equity in loss of unconsolidated ventures 173 1,453
Loss on extinguishment of debt 2,821 -
Interest expense:
Debt 28,987 25,239
Capitalized lease obligation 6,884 8,213
Amortization of deferred financing costs 1,557 1,618
Change in fair value of
derivatives and amortization 45,633 4,781
Interest income (1,626) (1,820)
Loss from operations (551) (16,093)
Depreciation and amortization 71,940 72,984
Facility lease expense 67,812 68,481
General and administrative (including
non-cash stock compensation expense) 36,388 40,653
Amortization of entrance fees(1) (6,691) (4,259)
Management fees (1,813) (1,496)
Facility Operating Income $167,085 $160,270
(1) Entrance fee sales, net of refunds paid, provided $2.6 million and
$1.9 million of cash for the three months ended March 31, 2008 and
2007, respectively.
Operating Data
The same store data, which includes for the twelve month period the
effect of the historical results of the ARC facilities, for the three and
twelve months ended March 31, 2008 and 2007 (in thousands) is presented
below:
Three months ended March 31,
2008
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