XML 53 R35.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity (Tables)
 12 Months Ended
Dec. 31, 2013
Equity  
Schedule of effect of changes in our ownership interest in the limited partnership on equity

 The following table represents the effect of changes in our ownership interest in the limited partnership on equity attributable to LTC Properties, Inc. (in thousands):

 
   Years Ended December 31,  
 
   2013   2012   2011  

Net income attributable to LTC Properties, Inc. 

   $ 57,815   $ 51,290   $ 49,252  

Transfers from the non-controlling interest

                    

Increase in paid-in capital for limited partners conversion

     —     396     —  

Decrease in paid-in capital for limited partners conversion

     —     (1,246 )   —  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Change from net income attributable to LTC Properties, Inc. and transfers from non-controlling interest

   $ 57,815   $ 50,440   $ 49,252  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
Schedule of cash dividends declared and paid

We declared and paid the following cash dividends(in thousands):

 
   Year Ended
December 31, 2013		   Year ended
December 31, 2012		  
 
   Declared   Paid   Declared   Paid  

Preferred Stock Series C

   $ 3,273   $ 3,273   $ 3,273   $ 3,273  

Common Stock

     63,631 (1)   63,631 (1)   54,512 (2)   54,512 (2)
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 66,904   $ 66,904   $ 57,785   $ 57,785  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
(1)
Represents $0.155 per share per month for January through September 2013 and $0.17 per share per month for October through December 2013
(2)
Represents $0.145 per share per month for January through July of 2012 and $0.155 per share per month for August through December of 2012.
Schedule of restricted stock granted

 

 

Year
  No. of Shares   Price per
Share		   Vesting Period

2013:

                

 

     8,400   $ 46.54   ratably over 3 years

 

     6,000   $ 41.83   ratably over 3 years

 

     20,000   $ 36.26   June 1, 2016
               
​ ​ ​ ​ ​ ​ ​ ​ ​

 

     34,400          
               
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
               

2012:

                

 

     14,000   $ 31.77   ratably over 5 years

 

     12,200   $ 31.77   January 10, 2016

 

     30,000   $ 31.77   June 15, 2015

 

     8,000   $ 31.87   ratably over 3 years

 

     6,300   $ 34.90   ratably over 5 years

 

     20,000   $ 34.90   December 20, 2015
               
​ ​ ​ ​ ​ ​ ​ ​ ​

 

     90,500          
               
​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​
               
Schedule of restricted stock activity

 

 

 
   2013   2012  

Outstanding, January 1

     195,449     165,134  

Granted

     34,400     90,500  

Vested

     (64,700 )   (60,185 )

Canceled

     —     —  
           
​ ​ ​ ​ ​ ​ ​ ​

Outstanding, December 31

     165,149     195,449  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Compensation expense for the year(1)

   $ 2,591,000   $ 1,809,000  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
(1)
During 2013, we recorded $457,000 of compensation expense related to the accelerated vesting of 18,180 shares of restricted common stock due to the retirement of our former Senior Vice President, Marketing and Strategic Planning. At December 31, 2013, the total compensation cost related to unvested restricted stock granted is $3,818,000, which will be recognized ratably over the remaining vesting period.
Schedule of nonqualified stock option activity

 

 

 
   Shares   Weighted Average
Price		  
 
   2013   2012   2013   2012  

Outstanding, January 1

     95,334     180,334   $ 23.93   $ 23.33  

Granted

     —     —   $ —   $ —  

Exercised

     (22,000 )   (85,000 ) $ 23.79   $ 22.66  

Canceled

     —     —   $ —   $ —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding, December 31

     73,334     95,334   $ 23.97   $ 23.93  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Exercisable, December 31(1)

     73,334     95,334   $ 23.97   $ 23.93  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(1)
The aggregate intrinsic value of exercisable options at December 31, 2013, based upon the closing price of our common shares at December 31, 2013 the last trading day of 2013, amounted to approximately $838,000. Options exercisable at December 31, 2013 have a weighted average remaining contractual life of approximately 3 years.
Schedule of options exercised

 

 

 
   Options
Exercised		   Weighted
Average
Exercise
Price		   Option
Value		   Market
Value(1)		  

2013

     22,000   $ 23.79   $ 523,000   $ 865,000  

2012

     85,000   $ 22.66   $ 1,926,000   $ 2,761,000  
(1)
As of the exercise dates.