Note 10. Significant Tenant

Five Star is our former subsidiary. Rental income from Five Star represented 43.4% of our annualized rental income and the properties Five Star leases from us represented 41.5% of our investments, at cost, as of March 31, 2013. As of March 31, 2013, Five Star also managed 39 senior living communities for our account. The following tables present summary financial information for Five Star for the three months ended March 31, 2013, as reported in its Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2013.

	For the Three Months Ended March 31,
Operations	2013		2012
Total revenues	$	360,052	$	327,150
Operating income	2,405		3,001
Income from continuing operations	2,314		1,222
Net income	1,935		369

	For the Three Months Ended March 31,
Cash Flows	2013			2012
Cash provided by operating activities	$	2,011		$	7,392
Net cash (used in) provided by discontinued operations	(2,161		)	107
Cash provided by (used in) investing activities	(9,028		)	(8,942		)
Cash (used in) provided by financing activities	(304		)	(286		)
Change in cash and cash equivalents	(9,482		)	(1,729		)
Cash and cash equivalents at beginning of period	24,638			28,374
Cash and cash equivalents at end of period	15,156			26,645

	As of March 31,
Financial Position	2013		2012
Current assets	$	140,178	$	144,195
Non-current assets	428,475		434,042
Total indebtedness	62,209		62,493
Current liabilities	183,006		190,841
Non-current liabilities	76,696		80,591
Total shareholders’ equity	308,951		306,805

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 and management arrangements with Five Star.