Brookdale Announces Fourth Quarter and Full Year 20...(p of debt ...),Health

of debt (2,040) -

Other (1,010) -

Refundable entrance fees:

Proceeds from refundable entrance fees 25,919 14,760

Refunds of entrance fees (19,557) (9,188)

Recouponing and payment of swap termination (60,503)

Proceeds from issuance of common stock, net - 1,354,063

Costs incurred related to follow-on

equity offering - (2,435)

Net cash provided by financing

activities 191,627 1,907,126

Net increase (decrease) in cash

and cash equivalents 32,870 (9,648)

Cash and cash equivalents at

beginning of period 68,034 77,682

Cash and cash equivalents at end of

period $100,904 $68,034

Non-GAAP Financial Measures

Adjusted EBITDA

Adjusted EBITDA is a measure of operating performance that is not calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). Adjusted EBITDA should not be considered in isolation or as a substitute for net income, income from operations or cash flows provided by or used in operations, as determined in accordance with GAAP. Adjusted EBITDA is a key measure of the Company's operating performance used by management to focus on operating performance and management without mixing in items of income and expense that relate to long-term contracts and the financing and capitalization of the business. We define Adjusted EBITDA as net income (loss) before provision (benefit) for income taxes, non-operating (income) loss items, depreciation and amortization, straight-line lease expe
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