EX-99.1 3 g72649ex99-1.txt SUPPLEMENTAL INFORMATION EXHIBIT 99.1 AMERICAN RETIREMENT CORPORATION (ACR) - Q3 2001 DATA SHEET - PAGE 1 OF 2 -------------------------------------------------------------------------------- Revenue Composition --------------------------------------------------------------------------------
% of % of Res. Total (in thousands) $ Fees Rev ------- ----- ----- Retirement Centers ------------------ Independent living $27,615 42.6% 41.8% Assisted living 8,588 13.2% 13.0% Skilled Nursing 9,243 14.3% 14.0% Therapy Revenue 2,767 4.3% 4.2% Ancillary Services 5,240 8.1% 7.9% Entry Fee Income 1,441 2.2% 2.2% ------- ----- ----- 54,894 84.7% 83.1% Freestanding Assisted Living 9,926 15.3% 15.0% ------- ----- ----- Total Resident Fees 64,820 100.0% 98.1% Freedom Sq & Freedom Peoria 612 0.9% Mgmt Fees with purchase rights 281 0.4% Mgmt Fees - other 322 0.5% Develop. Fees 15 0.0% ------- ----- 1,230 1.9% TOTAL REVENUES $66,050 100.0%
-------------------------------------------------------------------------------- -------------------------------------------------------------------------------- G&A as a Percentage of Revenue --------------------------------------------------------------------------------
($ in millions) Q3 01 Q3 00 --------------- ------- ------- Consolidated Community Revenue $64,820 $52,751 Freedom Square/Freedom Peoria 11,255 11,024 Other Nonconsolidated Community Revenue 6,005 6,679 ------- ------- Total Community Revenue $82,080 $70,454 G&A including liability insurance charges (A) $ 6,412 $ 4,722 G&A excluding non-recurring items (B) $ 5,125 $ 4,722 PERCENTAGE OF REVENUE (A) 7.8% 6.7% (B) 6.2% 6.7%
-------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Revenue Composition by Source --------------------------------------------------------------------------------
(in thousands) $ % ------- ------- Private Pay $60,130 91.0% Medicare 5,541 8.4% Medicaid 379 0.6% ------- ------- TOTAL $66,050 100.0%
-------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Same Community Results --------------------------------------------------------------------------------
INCLUDING ENTRY EXCLUDING ENTRY FEE COMMUNITIES FEE COMMUNITIES ------------------------------ --------------------------------- % % (in thousands) Q3 01 Q3 00 change Q3 01 Q3 00 change -------- -------- ------- -------- -------- ------- Resident & HC Revenue $ 48,794 $ 44,040 10.8% $ 38,888 $ 35,080 10.9% Operating Expenses 32,890 30,416 8.1% 26,072 24,225 7.6% -------- -------- -------- -------- Community EBITDAR $ 15,904 $ 13,624 16.7% $ 12,816 $ 10,855 18.1% EBITDAR Margin 32.6% 30.9% 33.0% 30.9% % % Q3 01 Q3 00 change Q3 01 Q3 00 change -------- -------- ------- -------- -------- ------- # Locations 29 29 26 26 Resident Capacity 7,388 7,388 5,931 5,931 Avg. Occupancy 93% 89% 92% 88% Avg. Occupied Units 6,103 5,915 3.2% 5,001 4,811 3.9% Avg. Mo. Revenue/unit 2,665 2,482 7.4% 2,592 2,431 6.6%
-------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Community NOI Summary** -------------------------------------------------------------------------------- ** Community Revenue less Community Expense before Corporate Overhead
(in thousands) Q3 00 Q4 00 Q1 01 Q2 01 Q3 01 -------- -------- -------- -------- -------- Consolidated Retirement Center $ 16,555 $ 17,337 $ 18,684 $ 18,952 $ 18,461 Consolidated Freestanding AL (A) (1,132) (1,116) (801) (162) (157) -------- -------- -------- -------- -------- Total Consolidated EBITDAR 15,423 16,221 17,883 18,790 18,304 Nonconsolidated Freestanding AL(1) (B) (1,405) (940) (903) (493) (219) Total Freestanding AL Portfolio (A)+(B) (2,537) (2,056) (1,704) (655) (376) Freestanding AL's opened at quarter end(1) 26 28 32 32 32
(1) Adjusted to exclude 2 minority-owned Joint Ventures -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Consolidated Community Data** --------------------------------------------------------------------------------
Average Average Capacity Occupancy -------- --------- Independent living 4,985 97.1% Assisted living 2,435 71.7% Alzheimer's 556 58.5% Skilled Nursing 1,063 83.5% Total 9,039 86.3%
** Excludes Freedom Square and Freedom Peoria -------------------------------------------------------------------------------- [ARC LOGO] AMERICAN RETIREMENT CORPORATION (ACR) - Q3 2001 DATA SHEET - PAGE 2 OF 2 -------------------------------------------------------------------------------- Location/Resident Capacity by Community Type --------------------------------------------------------------------------------
Congregate Freestanding CCRC-Rental CCRC-Entry Fee with AL AL --------------- --------------- ---------------- ---------------- Loc. Capacity Loc. Capacity Loc. Capacity Loc. Capacity ---- -------- ---- -------- ---- -------- ---- -------- Owned-100% 6 1,937 3 1,678 6 1,423 4 328 Owned-JV 0 0 0 0 0 0 4 351 ----------------------------------------------------------------------------------------------------------- Freedom Sq/Freedom Peoria 0 0 2 1,526 0 0 0 0 Synthetic Leased 1 220 1 460 0 0 8 866 ----------------------------------------------------------------------------------------------------------- Other Leased 1 195 1 175 2 1,303 1 66 REIT Leased 1 378 0 0 2 283 6 532 ----------------------------------------------------------------------------------------------------------- Managed with Purchase Rights 0 0 0 0 2 424 11 1,023 Managed-other 1 372 2 690 0 0 0 0 ----------------------------------------------------------------------------------------------------------- TOTAL 10 3,102 9 4,529 12 3,433 34 3,166 ----------------------------------------------------------------------------------------------------------- ** DESIGNATES EXPANSIONS Total Stabilized Pre-stabilized ----------------- ----------------- ----------------- Loc. Capacity Loc. Capacity Loc. Capacity ---- -------- ---- -------- ---- -------- Owned-100% 19 5,366 17 5,138 2** 228 Owned-JV 4 351 4 351 0 0 --------------------------------------------------------------------------------------- Freedom Sq/Freedom Peoria 2 1,526 2 1,526 0 0 Synthetic Leased 10 1,546 5 957 5 589 --------------------------------------------------------------------------------------- Other Leased 5 1,739 4 1,564 1 175 REIT Leased 9 1,193 7 1,024 2 169 --------------------------------------------------------------------------------------- Managed with Purchase Rights 13 1,447 11 1,271 2 176 Managed-other 3 1,062 3 1,062 0 0 --------------------------------------------------------------------------------------- TOTAL 65 14,230 53 12,893 12 1,337 ---------------------------------------------------------------------------------------
-------------------------------------------------------------------------------- Synthetic Lease Assets --------------------------------------------------------------------------------
Special Purpose ARC as Entity as ($ in thousands) Lessee Lessee Total ------- ------- -------- ARC Land (Leased to Lessor) $ 9,201 $ 6,088 $ 15,289 ARC assets pledged to Lessor 41,532 14,505 56,037 ARC Loans to Lessor 61,095 32,612 93,707 -------- ------- -------- TOTAL SYNTHETIC LEASE ASSETS $111,828 $53,205 $165,033
-------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Cost of Debt Financing --------------------------------------------------------------------------------
Balance 9/30/01 Weighted ($ in thousands) % Avg Rate ---------------- -------- -------- Fixed $297,479 55.9% 7.05% Floating 234,494 44.1% 6.49% -------- ----- ------ Total $531,973 100.0% 6.80%
-------------------------------------------------------------------------------- [ARC LOGO] The information included herein may be deemed to constitute forward-looking information made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking information may be affected by certain risks and uncertainties, including those described in American Retirement Corporation's filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking information included herein, American Retirement Corporation's actual results could differ materially from such forward-looking information. American Retirement Corporation does not undertake any obligation to publicly release any revisions to any forward-looking information contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.