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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Rental income $ 31,537 $ 31,628 $ 63,272 $ 61,952
Interest income from financing receivables 3,830   7,581  
Interest income from mortgage loans 11,926 10,097 23,170 19,733
Interest and other income 953 1,299 3,723 2,126
Total revenues 48,246 43,024 97,746 83,811
Expenses:        
Interest expense 11,312 7,523 21,921 14,666
Depreciation and amortization 9,376 9,379 18,586 18,817
Impairment loss 12,076   12,510  
Provision for credit losses 187 305 1,918 659
Transaction costs 91 67 208 99
Property tax expense 3,187 4,019 6,480 8,001
General and administrative expenses 6,091 5,711 12,385 11,519
Total expenses 42,320 27,004 74,008 53,761
Other operating income:        
Gain on sale of real estate, net 302 38,094 15,675 38,196
Operating income 6,228 54,114 39,413 68,246
Income from unconsolidated joint ventures 376 376 752 751
Net income 6,604 54,490 40,165 68,997
Income allocated to non-controlling interests (430) (107) (857) (202)
Net income attributable to LTC Properties, Inc. 6,174 54,383 39,308 68,795
Income allocated to participating securities (146) (318) (293) (407)
Net income available to common stockholders $ 6,028 $ 54,065 $ 39,015 $ 68,388
Earnings per common share:        
Basic (in dollars per share) $ 0.15 $ 1.37 $ 0.95 $ 1.74
Diluted (in dollars per share) $ 0.15 $ 1.36 $ 0.95 $ 1.73
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 41,145 39,492 41,113 39,347
Diluted (in shares) 41,232 39,665 41,200 39,520
Dividends declared and paid per common share (in dollars per share) $ 0.57 $ 0.57 $ 1.14 $ 1.14