EX-99.1 12 nhi-12312013x10kex991.htm FINANCIAL STATEMENT SCHEDULES NHI-12/31/2013-10K EX. 99.1


EXHIBIT 99.1
NATIONAL HEALTH INVESTORS, INC.
INDEX TO FINANCIAL STATEMENT SCHEDULES


Financial Statement Schedules

Report of Independent Registered Public Accounting Firm

Schedule II - Valuation and Qualifying Accounts

Schedule III - Real Estate and Accumulated Depreciation

Schedule IV - Mortgage Loans on Real Estate





Report of Independent Registered Public Accounting Firm


Board of Directors and Stockholders
National Health Investors, Inc.
Murfreesboro, Tennessee

The audits referred to in our report dated February 14, 2014 relating to the consolidated financial statements of National Health Investors, Inc., which is contained in Item 8 of this Form 10-K, also included the audits of the financial statement schedules listed in the accompanying index. These financial statement schedules are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statement schedules based on our audits.

In our opinion, such financial statement schedules, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.


/s/ BDO USA, LLP

Nashville, Tennessee
February 14, 2014





NATIONAL HEALTH INVESTORS, INC.
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012, AND 2011
(in thousands)
 
Balance
 
Additions
 
 
 
 
 
Beginning
 
Charged to Costs
 
 
 
Balance
 
of Period
 
and Expenses1
 
Deductions
 
End of Period
 
 
 
 
 
 
 
 
For the year ended December 31, 2013
 
 
 
 
 
 
 
Loan loss allowance
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
For the year ended December 31, 2012
 
 
 
 
 
 
 
Loan loss allowance
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
For the year ended December 31, 2011
 
 
 
 
 
 
 
Loan loss allowance
$

 
$

 
$

 
$


1 In the Consolidated Statements of Income, we report the net amount of our provision for loan and realty losses and our recoveries of amounts previously written down. For 2013, net losses were $1,976,000, consisting of a $4,037,000 note impairment and a $2,061,000 recovery and there was no provision for losses during the year. For 2012, net recoveries were $2,195,000, consisting of a $4,495,000 recovery and a $2,300,000 note impairment and there was no provision for losses during the year. For 2011, net recoveries were $99,000 and there was no provision for losses during the year.






NATIONAL HEALTH INVESTORS, INC.
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2013
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs
 
Gross Amount at Which
 
 
 
 
 
 
Initial Cost to Company
 
Capitalized
 
Carried at Close of Period
 
 
Date
 
 
 
 
 
Buildings &
 
Subsequent to
 
 
 
Buildings &
 
 
 
Accumulated
Acquired/
 
Encumbrances
 
Land
 
Improvements
 
Acquisition
 
Land
 
Improvements
 
Total
 
Depreciation
Constructed
Skilled Nursing Facilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anniston, AL
$

 
$
70

 
$
4,476

 
$

 
$
70

 
$
4,476

 
$
4,546

 
$
3,132

10/17/1991
Moulton, AL

 
25

 
688

 

 
25

 
688

 
713

 
688

10/17/1991
Avondale, AZ

 
453

 
6,678

 

 
453

 
6,678

 
7,131

 
3,073

8/13/1996
Brooksville, FL

 
1,217

 
16,166

 

 
1,217

 
16,166

 
17,383

 
1,583

2/1/2010
Crystal River, FL

 
912

 
12,117

 

 
912

 
12,117

 
13,029

 
1,186

2/1/2010
Dade City, FL

 
605

 
8,042

 

 
605

 
8,042

 
8,647

 
787

2/1/2010
Hudson, FL (2 facilities)

 
1,290

 
22,392

 

 
1,290

 
22,392

 
23,682

 
8,398

Various
Merritt Island, FL

 
701

 
8,869

 

 
701

 
8,869

 
9,570

 
6,351

10/17/1991
New Port Richey, FL

 
228

 
3,023

 

 
228

 
3,023

 
3,251

 
296

2/1/2010
Plant City, FL

 
405

 
8,777

 

 
405

 
8,777

 
9,182

 
6,495

10/17/1991
Stuart, FL

 
787

 
9,048

 

 
787

 
9,048

 
9,835

 
6,541

10/17/1991
Trenton, FL

 
851

 
11,312

 

 
851

 
11,312

 
12,163

 
1,108

2/1/2010
Grangeville, ID

 
122

 
2,491

 

 
122

 
2,491

 
2,613

 
1,163

8/13/1996
Glasgow, KY

 
33

 
2,110

 

 
33

 
2,110

 
2,143

 
1,850

10/17/1991
Greenfield, MA

 
370

 
4,341

 

 
370

 
4,341

 
4,711

 
38

8/30/2013
Holyoke, MA

 
110

 
943

 

 
110

 
943

 
1,053

 
9

8/30/2013
Quincy, MA

 
450

 
710

 

 
450

 
710

 
1,160

 
6

8/30/2013
Taunton, MA

 
900

 
5,906

 

 
900

 
5,906

 
6,806

 
52

8/30/2013
Desloge, MO

 
178

 
3,804

 

 
178

 
3,804

 
3,982

 
2,871

10/17/1991
Joplin, MO

 
175

 
4,034

 

 
175

 
4,034

 
4,209

 
2,404

10/17/1991
Kennett, MO

 
180

 
4,928

 

 
180

 
4,928

 
5,108

 
3,783

10/17/1991
Maryland Heights, MO

 
482

 
5,512

 

 
482

 
5,512

 
5,994

 
4,766

10/17/1991
St. Charles, MO

 
150

 
4,790

 

 
150

 
4,790

 
4,940

 
3,618

10/17/1991
Manchester, NH

 
790

 
20,077

 

 
790

 
20,077

 
20,867

 
173

8/30/2013
Epsom, NH

 
630

 
2,191

 

 
630

 
2,191

 
2,821

 
20

8/30/2013
Anderson, SC

 
308

 
4,643

 

 
308

 
4,643

 
4,951

 
3,894

10/17/1991
Greenwood, SC

 
222

 
3,457

 

 
222

 
3,457

 
3,679

 
2,861

10/17/1991
Laurens, SC

 
42

 
3,426

 

 
42

 
3,426

 
3,468

 
2,610

10/17/1991
Orangeburg, SC

 
300

 
3,715

 

 
300

 
3,715

 
4,015

 
537

9/25/2008
Athens, TN

 
38

 
1,463

 

 
38

 
1,463

 
1,501

 
1,305

10/17/1991
Chattanooga, TN

 
143

 
2,309

 

 
143

 
2,309

 
2,452

 
1,990

10/17/1991
Dickson, TN

 
90

 
3,541

 

 
90

 
3,541

 
3,631

 
2,732

10/17/1991
Franklin, TN

 
47

 
1,130

 

 
47

 
1,130

 
1,177

 
924

10/17/1991
Hendersonville, TN

 
363

 
3,837

 

 
363

 
3,837

 
4,200

 
2,569

10/17/1991
Johnson City, TN

 
85

 
1,918

 

 
85

 
1,918

 
2,003

 
1,751

10/17/1991
Lewisburg, TN (2 facilities)

 
46

 
994

 

 
46

 
994

 
1,040

 
914

10/17/1991
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





NATIONAL HEALTH INVESTORS, INC.
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2013
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs
 
Gross Amount at Which
 
 
 
 
 
 
Initial Cost to Company
 
Capitalized
 
Carried at Close of Period
 
 
Date
 
 
 
 
 
Buildings &
 
Subsequent to
 
 
 
Buildings &
 
 
 
Accumulated
Acquired/
 
Encumbrances
 
Land
 
Improvements
 
Acquisition
 
Land
 
Improvements
 
Total
 
Depreciation
Constructed
McMinnville, TN

 
73

 
3,618

 

 
73

 
3,618

 
3,691

 
2,739

10/17/1991
Milan, TN

 
41

 
1,826

 

 
41

 
1,826

 
1,867

 
1,501

10/17/1991
Pulaski, TN

 
53

 
3,921

 

 
53

 
3,921

 
3,974

 
2,987

10/17/1991
Lawrenceburg, TN

 
98

 
2,901

 

 
98

 
2,901

 
2,999

 
2,058

10/17/1991
Dunlap, TN

 
35

 
3,679

 

 
35

 
3,679

 
3,714

 
2,549

10/17/1991
Smithville, TN

 
35

 
3,816

 

 
35

 
3,816

 
3,851

 
2,823

10/18/1991
Somerville, TN

 
26

 
678

 

 
26

 
678

 
704

 
621

10/19/1991
Sparta, TN

 
80

 
1,602

 

 
80

 
1,602

 
1,682

 
1,268

10/20/1991
Canton, TX

 
420

 
12,330

 

 
420

 
12,330

 
12,750

 
273

4/18/2013
Corinth, TX

 
1,075

 
13,935

 

 
1,075

 
13,935

 
15,010

 
332

4/18/2013
Ennis, TX

 
986

 
9,025

 

 
986

 
9,025

 
10,011

 
694

10/31/2011
Greenville, TX

 
1,800

 
13,948

 

 
1,800

 
13,948

 
15,748

 
964

10/31/2011
Houston, TX (5 facilities)

 
3,818

 
63,921

 

 
3,818

 
63,921

 
67,739

 
8,308

Various
Kyle, TX

 
1,096

 
12,279

 

 
1,096

 
12,279

 
13,375

 
683

6/11/2012
Mesquite, TX

 
180

 
6,162

 

 
180

 
6,162

 
6,342

 
2,223

9/1/1998
Paris, TX

 
60

 
12,040

 

 
60

 
12,040

 
12,100

 
1,650

6/30/2009
San Antonio, TX

 
300

 
12,150

 

 
300

 
12,150

 
12,450

 
1,807

6/30/2009
Bristol, VA

 
176

 
2,511

 

 
176

 
2,511

 
2,687

 
1,903

10/17/1991
 

 
24,150

 
384,200

 

 
24,150

 
384,200

 
408,350

 
117,861

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assisted Living Facilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rainbow City, AL

 
670

 
11,330

 

 
670

 
11,330

 
12,000

 
82

10/31/2013
Gilbert, AZ

 
451

 
3,142

 
79

 
451

 
3,221

 
3,672

 
1,190

12/31/1998
Glendale, AZ

 
387

 
3,823

 
57

 
387

 
3,880

 
4,267

 
1,444

12/31/1998
Tucson, AZ (2 facilities)

 
919

 
6,656

 
190

 
919

 
6,846

 
7,765

 
2,516

12/31/1998
Bartow, FL

 
225

 
3,192

 

 
225

 
3,192

 
3,417

 
299

11/30/2010
Lakeland, FL

 
250

 
3,167

 

 
250

 
3,167

 
3,417

 
298

11/30/2010
Maitland, FL

 
1,687

 
5,428

 

 
1,687

 
5,428

 
7,115

 
2,652

8/6/1996
St. Cloud, FL

 
307

 
3,117

 

 
307

 
3,117

 
3,424

 
293

11/30/2010
Greensboro, GA

 
572

 
4,849

 

 
572

 
4,849

 
5,421

 
312

9/15/2011
Ames, IA(C)
80,080

 
360

 
4,670

 

 
360

 
4,670

 
5,030

 
65

6/28/2013
Burlington, IA(C)

 
200

 
8,374

 

 
200

 
8,374

 
8,574

 
119

6/28/2013
Cedar Falls, IA

 
260

 
4,700

 

 
260

 
4,700

 
4,960

 
69

6/28/2013
Clinton, IA

 
133

 
3,215

 

 
133

 
3,215

 
3,348

 
304

6/30/2010
Ft. Dodge, IA(C)

 
100

 
7,208

 

 
100

 
7,208

 
7,308

 
99

6/28/2013
Iowa City, IA

 
297

 
2,725

 

 
297

 
2,725

 
3,022

 
296

6/30/2010
Marshalltown, IA(C)

 
240

 
6,208

 

 
240

 
6,208

 
6,448

 
87

6/28/2013
Muscatine, IA(C)

 
140

 
1,802

 

 
140

 
1,802

 
1,942

 
27

6/28/2013





NATIONAL HEALTH INVESTORS, INC.
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2013
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs
 
Gross Amount at Which
 
 
 
 
 
 
Initial Cost to Company
 
Capitalized
 
Carried at Close of Period
 
 
Date
 
 
 
 
 
Buildings &
 
Subsequent to
 
 
 
Buildings &
 
 
 
Accumulated
Acquired/
 
Encumbrances
 
Land
 
Improvements
 
Acquisition
 
Land
 
Improvements
 
Total
 
Depreciation
Constructed
Urbandale, IA(C)

 
540

 
4,292

 

 
540

 
4,292

 
4,832

 
64

6/28/2013
Weiser, ID

 
20

 
2,433

 

 
20

 
2,433

 
2,453

 
64

12/21/2012
Bourbonnais, IL(C)

 
170

 
16,594

 

 
170

 
16,594

 
16,764

 
231

6/28/2013
Moline, IL(C)

 
250

 
5,630

 

 
250

 
5,630

 
5,880

 
80

6/28/2013
Peoria, IL

 
403

 
4,532

 

 
403

 
4,532

 
4,935

 
502

10/19/2009
Quincy, IL(C)

 
360

 
12,403

 

 
360

 
12,403

 
12,763

 
171

6/28/2013
Rockford, IL(C)

 
390

 
12,576

 

 
390

 
12,576

 
12,966

 
180

6/28/2013
Springfield, IL(C)

 
450

 
19,355

 

 
450

 
19,355

 
19,805

 
269

6/28/2013
Carmel, IN

 
579

 
2,133

 

 
579

 
2,133

 
2,712

 

Under Const.
Crawfordsville, IN(C)

 
300

 
3,134

 

 
300

 
3,134

 
3,434

 
46

6/28/2013
Crown Point, IN

 
791

 
7,020

 

 
791

 
7,020

 
7,811

 
20

10/30/2013
Greenwood, IN

 
463

 
6,810

 

 
463

 
6,810

 
7,273

 
18

11/7/2013
Lafayette, IN

 
546

 
4,583

 

 
546

 
4,583

 
5,129

 
430

6/30/2010
Wabash, IN

 
320

 
2,242

 

 
320

 
2,242

 
2,562

 
37

6/28/2013
Overland Park, KS

 
2,199

 
20,026

 

 
2,199

 
20,026

 
22,225

 
881

9/30/2012
Mission, KS

 
1,901

 
17,310

 

 
1,901

 
17,310

 
19,211

 
761

9/30/2012
Bastrop, LA

 
325

 
2,456

 

 
325

 
2,456

 
2,781

 
211

4/30/2011
Bossier City, LA

 
500

 
3,344

 

 
500

 
3,344

 
3,844

 
301

4/30/2011
Minden, LA

 
280

 
1,698

 

 
280

 
1,698

 
1,978

 
145

4/30/2011
West Monroe, LA

 
770

 
5,627

 

 
770

 
5,627

 
6,397

 
454

4/30/2011
Baltimore, MD

 
860

 
8,078

 

 
860

 
8,078

 
8,938

 
37

10/31/2013
Battle Creek, MI

 
398

 
3,093

 

 
398

 
3,093

 
3,491

 
356

10/19/2009
Lansing, MI

 
340

 
7,908

 

 
340

 
7,908

 
8,248

 
898

10/19/2009
Midland, MI

 
504

 
6,612

 

 
504

 
6,612

 
7,116

 
718

10/19/2009
Saginaw, MI

 
248

 
4,212

 

 
248

 
4,212

 
4,460

 
474

10/19/2009
Champlin, MN

 
980

 
4,430

 

 
980

 
4,430

 
5,410

 
509

3/10/2010
Hugo, MN

 
400

 
3,800

 

 
400

 
3,800

 
4,200

 
422

3/10/2010
Maplewood, MN

 
1,700

 
6,510

 

 
1,700

 
6,510

 
8,210

 
742

3/10/2010
North Branch, MN

 
595

 
2,985

 

 
595

 
2,985

 
3,580

 
371

3/10/2010
Grand Island, NE

 
370

 
5,029

 

 
370

 
5,029

 
5,399

 
71

6/28/2013
Lincoln, NE(C)

 
380

 
10,904

 

 
380

 
10,904

 
11,284

 
149

6/28/2013
Omaha, NE(C)

 
480

 
7,039

 

 
480

 
7,039

 
7,519

 
97

6/28/2013
Marysville, OH

 
1,250

 
13,950

 

 
1,250

 
13,950

 
15,200

 
212

7/1/2013
Ontario, OR (2 facilities)

 
428

 
6,128

 

 
428

 
6,128

 
6,556

 
162

12/21/2012
Conway, SC

 
344

 
2,877

 
94

 
344

 
2,971

 
3,315

 
1,095

12/31/1998
Gallatin, TN

 
326

 
2,277

 
61

 
326

 
2,338

 
2,664

 
861

3/31/1999
Kingsport, TN

 
354

 
2,568

 
66

 
354

 
2,634

 
2,988

 
973

12/31/1998
Tullahoma, TN

 
191

 
2,216

 
57

 
191

 
2,273

 
2,464

 
825

3/31/1999





NATIONAL HEALTH INVESTORS, INC.
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2013
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs
 
Gross Amount at Which
 
 
 
 
 
 
Initial Cost to Company
 
Capitalized
 
Carried at Close of Period
 
 
Date
 
 
 
 
 
Buildings &
 
Subsequent to
 
 
 
Buildings &
 
 
 
Accumulated
Acquired/
 
Encumbrances
 
Land
 
Improvements
 
Acquisition
 
Land
 
Improvements
 
Total
 
Depreciation
Constructed
Beaver Dam, WI

 
210

 
20,149

 

 
210

 
20,149

 
20,359

 
581

12/21/2012
 
80,080

 
29,113

 
358,569

 
604

 
29,113

 
359,173

 
388,286

 
24,570

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Independent Living Facilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rogers, AR

 
1,470

 
26,641

 

 
1,470

 
26,641

 
28,111

 

12/23/2013
Fort Smith, AR

 
590

 
22,002

 

 
590

 
22,002

 
22,592

 

12/23/2013
Pinole, CA

 
1,020

 
18,055

 

 
1,020

 
18,055

 
19,075

 

12/23/2013
West Covina, CA

 
940

 
20,144

 

 
940

 
20,144

 
21,084

 

12/23/2013
Hemet, CA

 
1,250

 
12,802

 

 
1,250

 
12,802

 
14,052

 

12/23/2013
Fresno, CA

 
420

 
11,628

 

 
420

 
11,628

 
12,048

 

12/23/2013
Merced, CA

 
350

 
18,226

 

 
350

 
18,226

 
18,576

 

12/23/2013
Roseville, CA

 
630

 
30,497

 

 
630

 
30,497

 
31,127

 

12/23/2013
Modesto, CA

 
1,170

 
21,922

 

 
1,170

 
21,922

 
23,092

 

12/23/2013
Athens, GA

 
910

 
32,225

 

 
910

 
32,225

 
33,135

 

12/23/2013
Columbus, GA

 
570

 
9,469

 

 
570

 
9,469

 
10,039

 

12/23/2013
Savannah, GA

 
1,200

 
16,368

 

 
1,200

 
16,368

 
17,568

 

12/23/2013
Boise, ID

 
400

 
12,652

 

 
400

 
12,652

 
13,052

 

12/23/2013
Fort Wayne, IN

 
310

 
13,747

 

 
310

 
13,747

 
14,057

 

12/23/2013
Kenner, LA

 
310

 
26,803

 

 
310

 
26,803

 
27,113

 

12/23/2013
St. Charles, MO

 
344

 
3,181

 

 
344

 
3,181

 
3,525

 
2,229

10/17/1991
Voorhees, NJ

 
670

 
22,926

 

 
670

 
22,926

 
23,596

 

12/23/2013
Gahanna, OH

 
920

 
23,176

 

 
920

 
23,176

 
24,096

 

12/23/2013
Broken Arrow, OK

 
2,660

 
18,416

 

 
2,660

 
18,416

 
21,076

 

12/23/2013
Newberg, OR

 
1,080

 
18,999

 

 
1,080

 
18,999

 
20,079

 

12/23/2013
Myrtle Beach, SC

 
1,310

 
25,295

 

 
1,310

 
25,295

 
26,605

 

12/23/2013
Greenville, SC

 
560

 
16,508

 

 
560

 
16,508

 
17,068

 

12/23/2013
Johnson City, TN

 
55

 
4,077

 

 
55

 
4,077

 
4,132

 
2,492

10/17/1991
Chattanooga, TN

 
9

 
1,567

 

 
9

 
1,567

 
1,576

 
1,112

10/17/1991
Bellevue, WA

 
780

 
17,794

 

 
780

 
17,794

 
18,574

 

12/23/2013
Vancouver, WA (2 facilities)

 
1,740

 
21,850

 

 
1,740

 
21,850

 
23,590

 

12/23/2013
Yakima, WA

 
440

 
13,114

 

 
440

 
13,114

 
13,554

 

12/23/2013
 

 
22,108

 
480,084

 

 
22,108

 
480,084

 
502,192

 
5,833

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Living Campuses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loma Linda, CA

 
1,200

 
10,800

 

 
1,200

 
10,800

 
12,000

 
381

9/28/2012
Nampa, ID

 
243

 
4,182

 

 
243

 
4,182

 
4,425

 
1,931

8/13/1996
Maitland, FL

 
2,317

 
9,161

 

 
2,317

 
9,161

 
11,478

 
5,218

8/6/1996
West Palm Beach, FL

 
2,771

 
4,286

 

 
2,771

 
4,286

 
7,057

 
3,579

8/6/1996





NATIONAL HEALTH INVESTORS, INC.
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2013
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs
 
Gross Amount at Which
 
 
 
 
 
 
Initial Cost to Company
 
Capitalized
 
Carried at Close of Period
 
 
Date
 
 
 
 
 
Buildings &
 
Subsequent to
 
 
 
Buildings &
 
 
 
Accumulated
Acquired/
 
Encumbrances
 
Land
 
Improvements
 
Acquisition
 
Land
 
Improvements
 
Total
 
Depreciation
Constructed
Silverdale, WA

 
1,750

 
23,860

 
2,166

 
1,750

 
26,026

 
27,776

 
906

8/16/2012
 

 
8,281

 
52,289

 
2,166

 
8,281

 
54,455

 
62,736

 
12,015

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Medical Office Buildings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Crestview, FL

 
165

 
3,349

 

 
165

 
3,349

 
3,514

 
2,131

6/30/1993
Pasadena, TX

 
631

 
6,341

 

 
631

 
6,341

 
6,972

 
4,170

1/1/1995
 

 
796

 
9,690

 

 
796

 
9,690

 
10,486

 
6,301

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hospitals
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
La Mesa, CA

 
4,180

 
8,320

 

 
4,180

 
8,320

 
12,500

 
1,175

3/10/2010
Jackson, KY

 
540

 
10,163

 
5,838

 
540

 
16,001

 
16,541

 
5,813

6/12/1992
Murfreesboro, TN

 
2,444

 
17,585

 

 
2,444

 
17,585

 
20,029

 
548

10/1/2012
 

 
7,164

 
36,068

 
5,838

 
7,164

 
41,906

 
49,070

 
7,536

 
Total continuing operations properties
80,080

 
91,612

 
1,320,900

 
8,608

 
91,612

 
1,329,508

 
1,421,120

 
174,116

 
Corporate office

 
158

 
677

 
47

 
158

 
724

 
882

 
146

 
 
$
80,080

 
$
91,770

 
$
1,321,577

 
$
8,655

 
$
91,770

 
$
1,330,232

 
$
1,422,002

 
$
174,262

 

NOTES TO SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
(A) See the notes to the consolidated financial statements.
(B) Depreciation is calculated using estimated useful lives up to P40Y0M0D years for all completed facilities.
(C) These properties are encumbered by a mortgage with an outstanding balance of $80,080,000 at December 31, 2013.
(D) Subsequent to NHC's transfer of the original real estate properties in 1991, we have purchased from NHC $33,909,000 of additions to those properties. As the additions were purchased from NHC rather than developed by us, the $33,909,000 has been included as Initial Cost to Company.
(E) At December 31, 2013, the tax basis of the Company's net real estate assets was $1,416,573.






NATIONAL HEALTH INVESTORS, INC.
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011
(in thousands)
 
December 31,
 
2013
 
2012
 
2011
Investment in Real Estate:
 
 
 
 
 
Balance at beginning of period
$
698,536

 
$
541,493

 
$
463,197

Additions through cash expenditures
654,670

 
110,601

 
75,806

Additions through increase in accounts payable
3,086

 

 

Additions through contingent liabilities
1,600

 

 
5,478

Additions through assumption of debt
80,528

 
19,250

 

Additions through conveyance of noncontrolling interest

 
10,964

 

Additions through settlement of mortgage note
13,741

 

 

Sale of properties for cash
(30,159
)
 
(17,259
)
 
(2,988
)
Reclassification from assets held for sale, net

 
39,323

 

Reclassification to assets held for sale, net

 
(5,836
)
 

Balance at end of period
$
1,422,002

 
$
698,536

 
$
541,493

 
 
 
 
 
 
Accumulated Depreciation:
 
 
 
 
 
Balance at beginning of period
$
163,146

 
$
146,698

 
$
135,543

Addition charged to costs and expenses
20,658

 
16,981

 
11,992

Sale of properties
(9,542
)
 
(6,250
)
 
(837
)
Reclassification from assets held for sale, net

 
9,942

 

Reclassification to assets held for sale

 
(4,225
)
 

Balance at end of period
$
174,262

 
$
163,146

 
$
146,698








NATIONAL HEALTH INVESTORS, INC.
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
December 31, 2013
 
 
 
Monthly
 
 
 
 
Amount Subject To
 
Interest
Maturity
Payment
Prior
Original
Carrying
 
Delinquent Principal
 
Rate
Date
Terms
Liens
Face Amount
Amount
 
or Interest
 
 
 
 
 
(in thousands)
 
 
First Mortgages:
 
 
 
 
 
 
 
 
Skilled nursing facilities:
 
 
 
 
 
 
 
 
Grundy, VA
8.0%
2032
$31,000
 
$
4,396

$
3,172

 
 
Virginia Beach, VA
8.0%
2031
$31,000
 
3,814

2,867

 
 
Lexington, VA
8.0%
2032
$21,000
 
3,089

2,035

 
 
Brookneal, VA
8.0%
2031
$21,000
 
2,780

2,007

 
 
Laurel Fork, VA
8.0%
2030
$20,000
 
2,672

1,948

 
 
Front Royal, VA
9.6%
2027
$22,000
 
2,367

1,645

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assisted living facility in Owatonna, MN
7.5%
2018
$38,000
 
5,033

3,713

 
 
 
 
 
 
 
 
 
 
 
Construction Loan:
 
 
 
 
 
 
 
 
Transitional rehabilitation center in Mesa, Arizona
10.0%
2015
Interest Only
 
13,870

11,870

 
 
 
 
 
 
 
 
 
 
 
Second Mortgages:
 
 
 
 
 
 
 
 
Skilled nursing facility in Georgetown, TX
14.0%
2015
Interest Only
 
1,000

1,000

 
 
 
 
 
 
 
 
 
 
 
Assisted living facilities:
 
 
 
 
 
 
 
 
Ocala, FL
13.0%
2014
Interest Only
 
2,500

2,500

 
 
Naples, FL
12.0%
2016
Interest Only
 
2,500

1,369

 
 
Assisted living facility with carrying amount less than 3% of total carrying amount of mortgages
12.0%
2014
 
 
 
800

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
34,926

 
$


See the notes to our consolidated financial statements for more information on our mortgage loan receivables.





NATIONAL HEALTH INVESTORS, INC.
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011
(in thousands)
 
December 31,
 
2013
 
2012
 
2011
Reconciliation of mortgage loans on real estate
 
 
 
 
 
Balance at beginning of period
$
68,214

 
$
78,672

 
$
75,465

Additions:
 
 
 
 
 
New mortgage loans
1,369

 

 
6,566

Interest accrued on construction loan

 

 
1,082

Total Additions
1,369

 

 
7,648

 
 
 
 
 
 
Deductions:
 
 
 
 
 
Settlement of mortgage note by real estate acquisition
13,741

 

 

Impairment of mortgage note
4,037

 
2,300

 

Collection of principal, less recoveries of previous write-downs
16,879

 
8,158

 
4,441

Total Deductions
34,657

 
10,458

 
4,441

 
 
 
 
 
 
Balance at end of period
$
34,926

 
$
68,214

 
$
78,672