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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Rental income $ 30,010 $ 38,665 $ 88,320 $ 114,566
Interest income from mortgage loans 7,890 7,646 23,487 22,308
Interest and other income 273 808 1,257 1,967
Total revenues 38,173 47,119 113,064 138,841
Expenses:        
Interest expense 7,361 7,827 22,617 23,004
Depreciation and amortization 9,766 9,932 29,232 29,399
Impairment charges 941   941  
(Recovery) provision for doubtful accounts (2) (14) (1) 153
Transaction costs 63 75 197 275
Property tax expense 3,351 4,270 11,685 12,566
General and administrative expenses 4,814 4,745 14,494 13,912
Total expenses 26,294 26,835 79,165 79,309
Other operating income:        
Gain on sale of real estate, net 30 6,236 44,073 6,736
Operating income 11,909 26,520 77,972 66,268
Gain from property insurance proceeds 373   373  
Loss on unconsolidated joint ventures     (620)  
Income from unconsolidated joint ventures 56 760 287 1,973
Net income 12,338 27,280 78,012 68,241
Income allocated to non-controlling interests (121) (88) (292) (257)
Net income attributable to LTC Properties, Inc. 12,217 27,192 77,720 67,984
Income allocated to participating securities (103) (112) (339) (298)
Net income available to common stockholders $ 12,114 $ 27,080 $ 77,381 $ 67,686
Earnings per common share:        
Basic (in dollars per share) $ 0.31 $ 0.68 $ 1.97 $ 1.71
Diluted (in dollars per share) $ 0.31 $ 0.68 $ 1.97 $ 1.69
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 39,061 39,586 39,218 39,565
Diluted (in shares) 39,112 39,965 39,269 39,944
Dividends declared and paid per common share $ 0.57 $ 0.57 $ 1.71 $ 1.71
Comprehensive Income:        
Net income $ 12,338 $ 27,280 $ 78,012 $ 68,241
Comprehensive income $ 12,338 $ 27,280 $ 78,012 $ 68,241