XML 79 R15.htm IDEA: XBRL DOCUMENT

Significant Tenant

9 Months Ended

Sep. 30, 2012

Note 10. Significant Tenant

Five Star is our former subsidiary. Rental income from Five Star represented 39.6% of our annualized rental income and the properties Five Star leases from us represent 42.6% of our investments, at cost, as of September 30, 2012. As of September 30, 2012, Five Star also manages a portfolio of 30 senior living communities for our account. These properties leased and managed by Five Star are included in our short and long term residential care communities segment. The following tables present summary financial information for Five Star for the three and nine months ended September 30, 2012 and 2011, as reported in its Quarterly Report on Form 10-Q for the quarterly period ending September 30, 2012.

SENIOR HOUSING PROPERTIES TRUST

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(dollar amounts in thousands, except per share data or as otherwise stated)

	For the Three Months Ended September 30,
	2012		2011
Operations
Total revenues	$	332,420	$	310,561
Operating income	5,316		4,080
Income from continuing operations	3,405		3,546
Net income (loss)	16,439		(528		)

	For the Nine Months Ended September 30,
	2012		2011
Total revenues	$	991,781	$	891,152
Operating income	15,317		17,948
Income from continuing operations	9,935		14,750
Net income	21,446		8,800

	2012			2011
Cash Flows
Cash provided by operating activities	$	43,235		$	45,957
Net cash (used in) provided by discontinued operations	(8,317		)	652
Cash provided by (used in) investing activities	1,912			(126,463		)
Cash (used in) provided by financing activities	(50,909		)	101,030
Change in cash and cash equivalents	(14,079		)	21,176
Cash and cash equivalents at beginning of period	28,374			20,770
Cash and cash equivalents at end of period	14,295			41,946

	As of September 30,
	2012		2011
Financial Position
Current assets	$	128,465	$	154,185
Non-current assets	435,041		394,894
Total indebtedness	71,431		132,995
Current liabilities	157,904		208,195
Non-current liabilities	102,875		113,116
Total shareholders’ equity	302,727		227,768

The summary financial information of Five Star is presented to comply with applicable accounting regulations of the Securities and Exchange Commission, or SEC. References in these financial statements to the Quarterly Report on Form 10-Q for Five Star are included to show the source of the information only, and the other information in Five Star’s Quarterly Report on Form 10-Q is not incorporated by reference into these financial statements. See Note 11 for further information regarding our leases with Five Star.