Other non-operating loss (164) - (402) -
Interest expense:
Debt 30,036 22,439 114,518 74,133
Capitalized lease obligation 6,953 6,734 29,473 23,561
Amortization of deferred
financing costs 2,186 1,882 7,064 5,061
Change in fair value of
derivatives and amortization 42,329 (1,384) 73,222 38
Interest income (2,442) (3,101) (7,519) (6,810)
Loss from operations (174) (35,361) (41,207) (44,693)
Depreciation and amortization 65,235 74,000 299,925 188,129
Facility lease expense 68,263 72,799 271,628 228,779
General and administrative
(including non-cash stock
compensation expense) 26,869 44,439 138,013 117,897
Amortization of entrance fees(2) (5,019) (4,751) (19,241) (8,149)
Management fees (2,012) (2,459) (6,789) (5,617)
Facility Operating Income $153,162 $148,667 $642,329 $476,346
(1) Facility operating income for the year ended December 31, 2007
includes $7.0 million of charges to facility operating expenses in the
quarter ended December 31, 2007, which relates to the Company's desire
to conform its policies across all of its platforms including $5.9
million of estimated uncollectible accounts and $1.1 million of
accounting conformity adjustments pertaining to inventory and certain
accrual policies.
(2) Entrance fee sales, net of refunds paid, provided $9.8 million and
$11.7 million of cash for the three months ended December 31, 2007 and
2006, respectively, and $25.7 million and $18.4 million for the tw
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