Brookdale Announces Fourth Quarter and Full Year 20...(d stockholders' equity $4811622 ...),Health

Condensed Consolidated Statements of Cash Flow

(in thousands)

Twelve Months Ended December 31,

2007 2006

Cash Flows from Operating Activities

Net loss $(161,979) $(108,087)

Adjustments to reconcile net loss to

net cash provided by operating activities:

Loss on extinguishment of debt 2,683 1,526

Depreciation and amortization 306,989 193,190

Minority interest (393) 671

(Gain) loss on sale of assets (457) 123

Equity in loss of unconsolidated ventures 3,386 3,705

Distributions from uncon. ventures

from cumulative share of net earnings 1,521 336

Amortization of deferred gain (4,342) (4,345)

Amortization of entrance fees (19,241) (8,149)

Proceeds from deferred entrance fee revenue 19,330 12,796

Deferred income tax benefit (103,180) (39,267)

Change in deferred lease liability 25,439 24,699

Change in fair value of derivatives

and amortization 73,222 38

Stock-based compensation 20,113 26,612

Changes in operating assets and liabilities:

Accounts receivable, net (6,134) (23,022)

Prepaid expenses and other assets, net 14,783 6,598

Accounts payable and accrued expenses 21,512 (4,156)

Tenant refundable fe
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