Three Months Ended Nine Months Ended
September 30, September 30,
2007(1) 2006(1) 2007(1) 2006(1)
Net cash provided by operating
activities $53,499 $30,438 $138,409 $53,677
Changes in operating assets and
liabilities (8,796) 2,452 (3,454) 12,380
Refundable entrance fees received(2) 8,696 4,144 17,018 6,900
Entrance fee refunds disbursed (5,084) (3,529) (15,488) (4,540)
Recurring capital expenditures, net (6,213) (7,658) (19,487) (15,018)
Reimbursement of operating expenses
and other 1,168 1,000 3,110 3,850
Cash From Facility Operations $43,270 $26,847 $120,108 $57,249
(1) The calculation of Cash From Facility Operations includes merger,
integration and certain other non-recurring expenses, as well as
acquisition transition costs, totaling $4.0 million and $3.6 million
for the three months ended September 30, 2007 and 2006, respectively,
and $11.0 million and $10.2 million for the nine months ended
September 30, 2007 and 2006, respectively.
(2) Total entrance fee receipts for the three months ended September 30,
2007 and 2006 were $14.4 million and $7.9 million, respectively,
including $5.7 million and $3.7 million, respectively, of
non-refundable entrance fee receipts included in net cash provided by
operating activities. Total entrance fee receipts for the nine months
ended September 30, 2007 and 2006 were $31.3 million and $11.2
million, respectively, including $14.3 million and $4.3 million,
respectively, of non-refundable entrance fee
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