CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | |||||||||||
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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Revenues: | ||||||||||||
Rental income | $ 87,573 | [1] | $ 77,643 | [1] | $ 64,952 | [1] | ||||||
Interest income from mortgage loans | 5,496 | 6,411 | 7,482 | |||||||||
Interest and other income | 964 | [2] | 1,111 | [2] | 1,868 | [2] | ||||||
Total revenues | 94,033 | 85,165 | 74,302 | |||||||||
Expenses: | ||||||||||||
Interest expense | 9,932 | 6,434 | 2,653 | |||||||||
Depreciation and amortization | 22,153 | 19,524 | 15,853 | |||||||||
Acquisition costs | 608 | 393 | 370 | |||||||||
General and administrative expenses | 10,029 | 9,272 | 9,831 | |||||||||
Total expenses | 42,722 | 35,623 | 28,707 | |||||||||
Income from continuing operations | 51,311 | 49,542 | 45,595 | |||||||||
Discontinued operations: | ||||||||||||
(Loss) income from discontinued operations | (99) | 148 | ||||||||||
Gain on sale of assets, net | 16 | 310 | ||||||||||
Net income (loss) from discontinued operations | 16 | (99) | 458 | |||||||||
Net income | 51,327 | 49,443 | 46,053 | |||||||||
Income allocated to non-controlling interests | (37) | (191) | (191) | |||||||||
Net income attributable to LTC Properties, Inc. | 51,290 | 49,252 | 45,862 | |||||||||
Income allocated to participating securities | (377) | (342) | (230) | |||||||||
Income allocated to preferred stockholders | (3,273) | (9,078) | (16,045) | |||||||||
Net income available to common stockholders | $ 47,640 | $ 39,832 | $ 29,587 | |||||||||
Basic earnings per common share: | ||||||||||||
Continuing operations (in dollars per share) | $ 1.58 | [3] | $ 1.37 | [3] | $ 1.19 | [3] | ||||||
Discontinued operations (in dollars per share) | $ 0.00 | [3] | $ 0.00 | [3] | $ 0.02 | [3] | ||||||
Net income available to common stockholders (in dollars per share) | $ 1.58 | [3] | $ 1.36 | [3] | $ 1.21 | [3] | ||||||
Diluted earnings per common share: | ||||||||||||
Continuing operations (in dollars per share) | $ 1.57 | [3] | $ 1.37 | [3] | $ 1.19 | [3] | ||||||
Discontinued operations (in dollars per share) | $ 0.00 | [3] | $ (0.01) | [3] | $ 0.02 | [3] | ||||||
Net income available to common stockholders (in dollars per share) | $ 1.57 | [3] | $ 1.36 | [3] | $ 1.21 | [3] | ||||||
Weighted average shares used to calculate earnings per common share: | ||||||||||||
Basic (in shares) | 30,238 | 29,194 | 24,495 | |||||||||
Diluted (in shares) | 30,278 | 29,222 | 24,568 | |||||||||
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X | ||||||||||
- Definition
This item represents interest earned from investments in marketable securities and on cash and cash equivalents, income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses and various other miscellaneous revenue items not related to operating revenue. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. No definition available.
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X | ||||||||||
- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
After tax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount of net income (loss) derived from discontinued operations during the period, net of related tax effect, per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income or loss derived from discontinued operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Interest and fee income related to commercial loans including industrial and agricultural, real estate (commercial and residential, construction and development), trade financing, and lease financing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Earnings allocated (not distributed) to participating securities under the two-class method to the extent that participating securities may share in earnings as if all of the earnings for the period had been distributed. No definition available.
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X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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