7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2013-03-31 2012-12-31 2012-03-31 2011-12-31 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-12-31 2008-09-30 2008-06-30 2008-03-31 2007-12-31 2007-09-30 2007-06-30 2007-03-31 2006-12-31 2006-09-30 2006-06-30 2006-03-31 
      
    		                                                              
      cash flows from operating activities
    		                                                              
      net income
    		-114,738,000 -43,039,000 -64,993,000 -83,937,000 -50,734,000 -37,742,000 -29,581,000 -91,170,000 -48,811,000 -4,526,000 -44,563,000 -25,651,000 -28,374,000 -84,283,000 -100,032,000 -81,720,000 174,263,000 -83,604,000 -108,303,000 -44,139,000 -124,993,000 -118,420,000 369,497,000 -91,323,000 -78,508,000 -56,055,000 -42,606,000 131,531,000 -37,140,000 -165,509,000 -457,234,000 15,021,000 -413,929,000 -46,337,000 -126,361,000 3,558,000 -24,487,000 -10,338,000 -14,875,000 -7,036,000 -33,959,000 -12,305,000 -8,136,000 -16,913,000 -9,557,000 -14,295,000 -20,799,000 -21,290,000 -10,530,000 -13,636,000 -278,786,000 -35,877,000 -3,485,000 -55,093,000 -49,237,000 -58,927,000 -18,675,000 -35,140,000 -37,357,000 -31,145,000 -20,259,000 -19,326,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                              
      gain on debt modification and extinguishment
    		326,000 115,000 35,220,000 18,495,000                211,000 7,917,000 157,000 -19,181,000                                        
      depreciation and amortization
    		98,539,000 96,565,000 94,606,000 96,364,000 92,401,000 90,362,000 88,384,000 89,345,000 87,842,000 86,347,000 86,874,000 90,071,000 88,450,000 88,143,000 87,226,000 87,028,000 86,539,000 85,731,000 85,764,000 89,340,000 89,551,000 94,710,000 92,053,000 96,108,000 94,680,000 94,983,000 97,719,000 106,748,000 111,809,000 118,444,000 118,211,000 119,908,000 121,193,000 123,579,000 130,078,000 69,228,000 66,979,000 67,817,000 66,479,000 68,381,000 72,587,000 74,486,000 72,874,000 77,195,000 75,578,000 75,657,000 71,963,000 69,150,000 70,652,000 69,675,000 71,087,000 70,070,000 71,255,000 73,497,000 67,421,000 80,386,000 84,580,000 74,602,000 75,882,000 62,024,000 32,282,000 23,002,000 
      asset impairment
    		62,696,000 577,000 1,787,000 5,915,000 934,000 0 1,708,000 30,966,000 9,086,000   12,256,000 5,688,000 2,599,000 9,075,000 9,609,000 639,000 2,078,000 10,677,000 10,579,000 8,213,000 10,290,000 78,226,000           1,559,000 20,706,000  19,348,000 1,083,000 2,046,000 0 0 14,846,000                     
      deferred income tax benefit
    		-316,000 -748,000 -1,157,000 3,665,000 312,000 65,000 -425,000 9,605,000 -2,203,000 -56,000 244,000 744,000 -630,000 866,000 -2,304,000 -18,349,000 9,216,000 -1,023,000 319,000 -3,113,000 12,526,000 6,514,000 -21,767,000 -1,438,000 -1,686,000 300,000 170,000 -33,187,000 -18,189,000         -4,000    -11,841,000 -6,751,000 -12,601,000 -5,743,000 -8,200,000 -12,244,000 -7,923,000 -3,323,000 -8,194,000 -32,255,000 -23,049,000 -3,532,000 -30,662,000 -34,465,000 -35,389,000 -12,692,000 -20,634,000     
      operating lease expense adjustment
    		-4,685,000 -4,846,000 -3,853,000 -9,732,000 -12,489,000 -13,483,000 -13,089,000 -11,919,000 -11,458,000 -11,557,000 -10,805,000 -9,567,000 -8,714,000 -8,308,000 -8,307,000 -7,017,000 -6,273,000 -5,326,000 -4,664,000 -4,000,000 -117,322,000 -8,221,000 -6,733,000 -5,827,000 -4,814,000 -4,429,000 -4,383,000                                    
      change in fair value of derivatives
    		-26,000 -29,000 1,142,000 -2,438,000 4,746,000 345,000 -3,087,000 3,986,000 -861,000 -5,173,000 904,000 1,618,000 -4,901,000 -973,000 -3,403,000         1,000 37,000 27,000 148,000 250,000 10,000 217,000 -74,000 15,000 74,000 39,000 46,000                           101,000 
      gain on sale of assets
    		-139,000   0 -20,000 -199,000 -704,000 -581,000 0   -73,834,000 56,000 -961,000 294,000 573,000 -288,375,000 79,000 -1,112,000 -513,000 -2,209,000 1,029,000 -372,839,000 -4,522,000        -20,656,000 233,000 547,000 603,000   114,000       0 144,000 2,111,000 0 103,000 -4,455,000             
      gain on facility operating lease termination
    		                                                              
      non-cash stock-based compensation expense
    		2,633,000 3,089,000 3,979,000 3,533,000 3,403,000 3,975,000 3,273,000 3,019,000 2,893,000 2,969,000 3,104,000 3,559,000 3,403,000 3,619,000 3,885,000 3,392,000 3,568,000 4,527,000 4,783,000 2,535,000 6,136,000 6,119,000 5,957,000 4,711,000 5,929,000 6,030,000 6,356,000 5,357,000 6,035,000 6,269,000 8,406,000                                
      property and casualty insurance income
    		-204,000 -2,072,000 -1,415,000 -2,251,000 -3,593,000 -62,000 -2,626,000 -4,873,000 -10,120,000 -632,000 -3,295,000                                                    
      changes in operating assets and liabilities:
    		                                                              
      accounts receivable
    		-11,495,000 1,833,000 -6,002,000 1,112,000 -3,220,000 -137,000 -1,253,000 -870,000 700,000 4,407,000 3,143,000 -4,213,000 -2,003,000 407,000 1,185,000 1,086,000 683,000 4,501,000 -5,768,000 4,599,000 6,683,000 15,028,000 -2,033,000 7,048,000 -2,759,000 553,000 -4,550,000 -3,837,000 -12,083,000 7,468,000 3,488,000 1,982,000 -1,192,000 8,401,000 3,556,000 -9,064,000 4,677,000 -5,317,000 -2,992,000 -3,998,000 1,728,000 -105,000 -1,476,000 -3,774,000 4,367,000 -7,073,000 550,000 14,273,000 79,000 -3,118,000 -6,985,000 -9,706,000 -2,067,000 -6,392,000 -527,000 -1,244,000 433,000 -4,796,000 1,109,000 -13,416,000 -9,269,000 -1,446,000 
      prepaid expenses and other assets
    		-4,683,000 -3,396,000 -5,104,000 -15,146,000 -5,559,000 -2,563,000 1,708,000 12,282,000 -2,364,000 19,313,000 -7,602,000 -9,433,000 -6,257,000 -816,000 -4,734,000 -7,996,000 -9,092,000 8,374,000 -6,769,000 -2,797,000 7,342,000 21,858,000 -1,696,000 5,486,000 19,564,000 18,465,000 12,358,000 4,888,000 19,996,000 26,685,000 -24,807,000 -1,353,000 4,344,000 27,609,000 -8,630,000 9,140,000 7,034,000 -3,621,000 -5,869,000 -12,040,000 2,079,000 -7,104,000 -18,043,000 -2,137,000 2,559,000 -4,429,000 -17,692,000 -6,250,000 -2,597,000 -1,887,000 -16,113,000 -985,000 -931,000 3,179,000 15,916,000 -5,802,000 2,966,000 1,703,000 5,179,000 -5,957,000 6,549,000 827,000 
      prepaid insurance premiums financed with notes payable
    		7,484,000 7,298,000 -22,392,000  7,772,000 7,617,000 -23,319,000  6,474,000 6,301,000 -19,305,000  5,700,000 5,377,000 -16,629,000  4,151,000 4,200,000 -12,985,000  5,841,000 5,770,000 -17,434,000  6,215,000 6,752,000 -18,842,000                                    
      trade accounts payable and accrued expenses
    		27,564,000 22,903,000 -15,148,000 10,626,000 19,451,000 10,729,000 -25,109,000 -18,996,000 17,662,000 5,168,000 -1,386,000 -28,733,000 2,370,000 1,808,000 -2,630,000 -75,910,000 19,747,000 2,631,000 -500,000 10,292,000 35,694,000 29,227,000 -47,919,000 8,986,000 21,415,000 -2,027,000 -41,358,000 -17,246,000 14,358,000                                  
      refundable fees and deferred revenue
    		383,000 -3,962,000 4,719,000 2,432,000 4,352,000 -4,288,000 2,725,000 -9,172,000 -4,503,000 -1,071,000 14,092,000 -9,199,000 3,309,000 -1,951,000 5,907,000 426,000 -1,574,000 -16,635,000 7,717,000 -2,149,000 -15,925,000 82,942,000 -2,254,000 -1,110,000 -6,781,000 -7,371,000 -9,855,000                                    
      operating lease assets and liabilities for lessor capital expenditure reimbursements
    		8,706,000 9,319,000 2,013,000 8,630,000 6,432,000 1,051,000 249,000 7,600,000 0 0 2,244,000 4,494,000 4,367,000 3,367,000 1,490,000 3,908,000 11,551,000 7,943,000 7,563,000 8,602,000 3,131,000 6,421,000 4,088,000 19,262,000 11,043,000                                      
      net cash from operating activities
    		76,525,000 83,564,000 23,402,000 45,198,000 66,455,000 55,670,000 -1,146,000 29,294,000 45,763,000 63,824,000 24,042,000 -48,562,000 63,521,000 11,577,000 -23,255,000 -81,387,000 7,200,000 3,410,000 -23,857,000 73,499,000 -77,169,000 151,840,000 57,479,000 88,082,000 69,211,000 64,128,000 -5,009,000 33,453,000 71,924,000 60,620,000 37,964,000 83,555,000 83,235,000 133,108,000 66,766,000 64,485,000 82,991,000 45,693,000 56,425,000 54,650,000 64,686,000 92,666,000 49,089,000 64,384,000 67,642,000 47,129,000 51,248,000 72,900,000 44,315,000 68,757,000 29,413,000 30,630,000 36,095,000 40,629,000 61,253,000 53,499,000 56,082,000 28,828,000 32,235,000 30,438,000 11,120,000 12,119,000 
      capex
    		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -56,124,000 -48,891,000 -53,866,000 -66,592,000 -73,843,000 -50,474,000 -40,642,000 -48,928,000 -51,614,000 0 -41,533,000 0 -46,659,000 -39,340,000 -28,589,000 0 -25,094,000 -22,408,000 -23,102,000 0 -24,573,000 -29,443,000 -33,491,000 0 -46,511,000 -41,455,000 -46,213,000 0 -44,624,000 -34,602,000 -34,331,000 0 -24,623,000 -8,220,000 -6,737,000 
      free cash flows
    		76,525,000 83,564,000 23,402,000 45,198,000 66,455,000 55,670,000 -1,146,000 29,294,000 45,763,000 63,824,000 24,042,000 -48,562,000 63,521,000 11,577,000 -23,255,000 -81,387,000 7,200,000 3,410,000 -23,857,000 73,499,000 -77,169,000 151,840,000 57,479,000 88,082,000 69,211,000 64,128,000 -5,009,000 -22,671,000 23,033,000 6,754,000 -28,628,000 9,712,000 32,761,000 92,466,000 17,838,000 12,871,000 82,991,000 4,160,000 56,425,000 7,991,000 25,346,000 64,077,000 49,089,000 39,290,000 45,234,000 24,027,000 51,248,000 48,327,000 14,872,000 35,266,000 29,413,000 -15,881,000 -5,360,000 -5,584,000 61,253,000 8,875,000 21,480,000 -5,503,000 32,235,000 5,815,000 2,900,000 5,382,000 
      cash flows from investing activities
    		                                                              
      purchase of marketable securities
    		   -9,863,000 -19,600,000   -14,665,000 -49,057,000 -61,080,000 -49,674,000 -33,563,000 -24,733,000 -79,383,000 -125,990,000 -114,410,000 -127,933,000 -39,982,000 -79,932,000 -122,896,000 -106,137,000 -59,822,000 -89,414,000 -48,438,000 -39,727,000 -29,711,000 -68,348,000     -44,811,000 -216,597,000                              
      sale and maturities of marketable securities
    		0 0 20,000,000 20,000,000 10,000,000 0 30,000,000 52,000,000 80,000,000 35,100,000 30,000,000 74,987,000 101,265,000 93,500,000 129,000,000 89,993,000 70,000,000 75,000,000 117,995,000 86,250,000 80,000,000 58,750,000 50,000,000                                        
      capital expenditures, net of related payables
    		-41,589,000 -54,466,000 -41,817,000 -50,312,000 -54,965,000 -51,574,000 -44,399,000 -58,505,000 -64,875,000 -60,125,000 -49,700,000 -46,352,000 -53,721,000 -56,895,000 -39,956,000 -50,840,000 -46,279,000 -39,177,000 -40,361,000 -45,181,000 -27,827,000 -43,478,000 -69,385,000 -97,707,000 -84,088,000 -62,242,000 -60,055,000                                    
      acquisition of assets
    		0 0 -311,028,000         0 0                                                  
      proceeds from sale of assets
    		7,086,000   0 0 6,168,000 849,000 40,345,000 122,000   -1,191,000 105,000 5,029,000 710,000 18,423,000 305,937,000 5,886,000 3,760,000 213,000 30,564,000 -4,078,000 304,617,000 39,305,000 1,000,000 22,972,000 29,458,000 367,895,000 1,015,000 55,837,000 75,060,000 35,937,000 115,000 2,780,000 31,675,000 440,000 8,918,000     23,147,000  0 0 1,487,000                 
      property and casualty insurance proceeds
    		204,000 2,072,000 1,415,000 2,251,000 3,593,000 62,000 2,642,000 5,168,000 10,747,000 2,367,000 6,422,000                                                    
      change in lease acquisition deposits
    		0 0 5,000,000 -3,000,000                                                           
      purchase of interest rate cap instruments
    		-882,000 -511,000 -2,170,000 -867,000 -769,000 -7,884,000 -629,000                                                        
      proceeds from interest rate cap instruments
    		1,269,000 1,297,000 1,900,000 5,747,000 5,687,000 4,470,000 4,659,000                                                        
      other
    		-283,000 162,000 -55,000 -95,000 -59,000 -108,000 -68,000 604,000 -1,185,000 -638,000 933,000 -4,344,000 -815,000 -138,000 -43,000 -290,000 -392,000 -2,591,000 -1,416,000 -812,000 -165,000 -340,000 -1,460,000 -1,527,000 -2,772,000 -1,906,000 -2,495,000 -1,138,000 2,000 0 -156,000 -4,120,000 -1,730,000 -1,571,000 -1,398,000 315,000 0 1,940,000 -8,491,000 615,000 -602,000 7,564,000 10,656,000 -702,000 -7,719,000 -2,911,000 9,419,000 -5,609,000 -2,026,000 -2,715,000 -3,961,000 -8,778,000 7,348,000 2,417,000 2,568,000 -4,037,000 -7,421,000 7,880,000  -5,867,000 -9,465,000 4,290,000 
      net cash from investing activities
    		-34,195,000 -50,399,000 -326,755,000 -144,550,000 -58,113,000 -68,457,000 -6,946,000 22,383,000 -31,837,000 -41,891,000 -62,019,000 -9,936,000 22,508,000 -43,838,000 -36,163,000 -20,272,000 203,974,000 1,561,000 -3,806,000 -81,147,000 -48,554,000 -47,483,000 -247,927,000 -75,184,000 -70,056,000 19,774,000 -100,073,000 301,801,000 -24,539,000 -79,643,000 91,155,000 -71,589,000 -268,503,000 -60,843,000 -200,372,000 -58,162,000 -181,929,000 -141,392,000 -81,689,000 -55,473,000 -40,060,000 -26,677,000 -41,240,000 7,279,000 -50,569,000 -51,975,000 -227,415,000 -25,602,000 -25,899,000 -72,516,000 -64,739,000 -50,186,000 4,588,000 -56,102,000 -12,142,000 -107,215,000 -163,511,000 -75,551,000 -182,089,000 -1,293,865,000 -340,749,000 -185,983,000 
      cash flows from financing activities
    		                                                              
      proceeds from debt
    		35,000 66,000 320,673,000 501,614,000 182,767,000 348,000 80,923,000 180,017,000 0 13,000 25,519,000 222,228,000 2,729,000 4,044,000 25,258,000 327,804,000 4,136,000 2,447,000 18,575,000 1,266,000 488,373,000 1,675,000 471,785,000 3,505,000 160,260,000 133,053,000 25,178,000 327,002,000 0 249,751,000 30,168,000 14,158,000 1,200,476,000 58,116,000 34,455,000 8,955,000 178,684,000 175,838,000 5,144,000 447,108,000 2,417,000 28,000,000 32,719,000 213,392,000 119,576,000 49,108,000 89,053,000 17,467,000 23,998,000 26,521,000 43,575,000 23,422,000 155,868,000 288,479,000 196,248,000 146,265,000 113,665,000 135,346,000 3,969,000 418,051,000 193,323,000 127,847,000 
      repayment of debt and financing lease obligations
    		-32,020,000 -25,013,000 -70,338,000 -335,607,000 -218,313,000 -20,575,000 -20,502,000 -275,376,000 -18,949,000 -49,595,000 -23,322,000 -216,995,000 -21,106,000 -21,644,000 -21,440,000 -345,506,000 -23,095,000 -23,046,000 -49,924,000 -20,159,000 -214,780,000 -40,694,000 -263,226,000 -23,771,000 -166,116,000 -209,636,000 -28,400,000                                    
      payment of financing costs, net of related payables
    		-1,172,000 -799,000 -5,909,000 -18,848,000 -3,235,000 -140,000 -2,934,000 -9,891,000 -264,000 -330,000 -346,000 -6,431,000 -530,000 -40,000 -76,000 -3,708,000 -24,000 -85,000 -87,000 -1,508,000 -10,672,000 -1,654,000 -5,815,000 -952,000 -3,015,000 -2,583,000 -759,000 -12,976,000 -150,000 -2,943,000 -248,000 131,000 -5,182,000 -202,000 -321,000 -2,200,000 -2,753,000 -2,378,000 -542,000 -4,685,000 -910,000 -2,575,000 -105,000 -2,392,000 -3,268,000 -2,776,000 -1,442,000 69,000 -432,000 -6,895,000 -572,000 -296,000 -12,571,000 -853,000 -3,764,000 -5,069,000 -1,107,000 -4,072,000 -3,390,000 -8,378,000 -5,630,000 -5,006,000 
      payments of employee taxes for withheld shares
    		-1,408,000 -13,000 -4,757,000 -12,000 -20,000 -8,000 -3,397,000 -35,000 -19,000 -181,000 -1,680,000 -11,000 -87,000 -50,000 -4,145,000 -48,000 -328,000 -115,000 -4,329,000 -25,000 -61,000 -53,000 -3,898,000 -71,000 -137,000 -108,000 -2,997,000 -217,000 -129,000 -97,000 -2,618,000 -223,000 -346,000 -208,000 -5,112,000                            
      net cash from financing activities
    		-34,565,000 -25,759,000 239,669,000 147,147,000 -38,801,000 -20,375,000 54,090,000 -105,285,000 -19,232,000 -50,093,000 171,000 138,229,000 -19,754,000 -17,690,000 -403,000 -37,926,000 -19,177,000 -20,992,000 -35,562,000 -20,279,000 96,668,000 -40,726,000 347,250,000 -26,560,000 -8,755,000 -87,443,000 -16,636,000 -85,134,000 -37,949,000 -185,876,000 -16,104,000 -80,873,000 325,294,000 20,026,000 -23,554,000 -47,321,000 125,674,000 106,976,000 16,905,000 -108,000 -21,232,000 -111,084,000 5,017,000 -54,047,000 -31,341,000 4,089,000 83,224,000 16,404,000 24,688,000 2,293,000 33,414,000 14,999,000 -99,777,000 34,105,000 -11,266,000 35,546,000 132,737,000 34,610,000 117,628,000 1,333,289,000 265,931,000 190,278,000 
      net increase in cash, cash equivalents, and restricted cash
    		7,765,000 7,406,000 -63,684,000 47,795,000 -30,459,000 -33,162,000 45,998,000 -53,608,000 -5,306,000 -28,160,000 -37,806,000 79,731,000 66,275,000 -49,951,000 -59,821,000 -139,585,000 191,997,000 -16,021,000 -63,225,000 -27,927,000 -29,055,000 63,631,000 156,802,000 -13,662,000                                       
      cash, cash equivalents, and restricted cash at beginning of period
    		0 0 379,840,000 0 0 0 349,668,000 0 0 0 474,548,000 0 0 0 438,314,000 0 0 0 465,148,000 0 0 0 301,697,000 0                                       
      cash, cash equivalents, and restricted cash at end of period
    		7,765,000 7,406,000 316,156,000 47,795,000 -30,459,000 -33,162,000 395,666,000 -53,608,000 -5,306,000 -28,160,000 436,742,000 79,731,000 66,275,000 -49,951,000 378,493,000 -139,585,000 191,997,000 -16,021,000 401,923,000 -27,927,000 -29,055,000 63,631,000 458,499,000 -13,662,000                                       
      equity in (earnings) loss of unconsolidated ventures
    		       840,000 1,426,000 1,153,000 577,000 1,429,000 2,020,000 2,439,000 4,894,000 1,547,000 1,474,000 -13,946,000 531,000 1,244,000 293,000 -438,000 1,008,000 970,000                       778,000 -42,000 -581,000 -595,000             
      distributions from unconsolidated ventures from cumulative share of net earnings
    		       0 0   0 0 0 561,000 0 836,000   0    1,084,000 858,000 781,000 749,000 737,000 1,012,000 739,000 408,000 6,893,000 473,000 453,000 439,000 668,000 72,000 206,000 582,000    400,000 0   -50,000 444,000 0 11,000 1,834,000 546,000 1,182,000 190,000 92,000 468,000       
      amortization of entrance fees
    		       0 0 -224,000 -508,000 -491,000 -549,000 -541,000 -726,000 -438,000 -444,000 -512,000 -364,000 -516,000 -681,000 -548,000 -377,000 -462,000 -400,000 -374,000 -398,000 -450,000 -383,000 -336,000 -501,000 -444,000 -427,000 -832,000 -1,198,000 -7,133,000 -6,863,000 -6,403,000 -6,536,000 -6,499,000 -6,604,000 -5,762,000 -6,237,000 -6,634,000 -5,787,000 -5,739,000 -5,577,000 -5,742,000 -5,232,000 -5,110,000 -5,498,000 -4,707,000 -5,129,000 -6,691,000 -5,019,000 -5,322,000 -4,641,000 -4,259,000 -4,751,000 -3,253,000 -62,000 -83,000 
      proceeds from deferred entrance fee revenue
    		       0 0 153,000 324,000 1,862,000 401,000 923,000 1,036,000 581,000 683,000 1,628,000 670,000 616,000 33,000 -258,000 343,000 642,000 1,163,000 1,303,000 436,000 711,000 1,109,000 289,000 1,109,000 1,193,000 567,000 2,025,000 1,927,000 9,237,000 9,802,000 7,000,000 11,903,000 10,815,000 9,299,000 6,361,000 9,770,000 9,812,000 8,354,000 9,550,000 15,264,000 12,635,000 5,718,000 4,872,000 7,391,000 7,253,000 5,177,000 2,780,000 5,015,000 5,673,000 4,726,000 3,916,000 8,467,000 3,716,000 165,000 448,000 
      other non-operating (income) loss
    		       0 0                                                      
      acquisition of assets, net of cash acquired
    		       0 0                                                      
      investment in unconsolidated ventures
    		       0    -26,000 -25,000 -85,000 -82,000 -77,000 0 -153,000 -5,206,000 -2,273,000 -1,453,000 -88,000 -268,000 -52,000 -90,000 -218,000 -3,986,000 -178,000 -82,000 -430,000 -8,434,000 -11,417,000 -1,434,000 -195,000 -185,971,000 -5,843,000 -4,797,000  -279,000    -1,000 394,000 -205,000 -848,000 0 -140,000 0 -1,106,000 -1,616,000 -670,000 -137,000 -356,000 -368,000 -441,000       
      distributions received from unconsolidated ventures
    		               34,958,000        2,181,000 2,149,000 2,127,000 3,178,000 2,068,000 1,385,000 7,360,000 2,037,000 17,544,000 3,446,000 6,238,000 1,807,000  94,000 100,000 50,000 40,000 56,000 60,000 20,000 30,000 0 47,000 92,000 179,000 265,000 525,000 3,616,000 146,000   219,000 54,000       
      proceeds from issuance of tangible equity units
    		                                                              
      operating lease assets and liabilities for lease termination
    		                                                              
      purchase of capped call transactions
    		                                                              
      change in lease security deposits and lease acquisition deposits
    		           38,000 162,000 0 155,000 -119,000 94,000 -13,000 -62,000 170,000 95,000 93,000 3,211,000 -429,000 -347,000 237,000 -320,000 1,827,000 2,298,000 -947,000 -2,015,000 -1,702,000 -416,000                              
      proceeds from notes receivable
    		                   2,570,000 1,709,000   0 2,500,000                                      
      proceeds from line of credit
    		                   0 0 0 166,381,000     0 0   0    105,000,000 95,000,000 130,000,000 105,000,000 65,000,000 15,000,000 40,000,000 0 0 15,000,000 45,000,000 0 0 0 60,446,000 74,696,000 94,757,000 45,000,000 125,000,000 220,000,000 123,000,000 222,000,000 106,500,000 163,500,000 20,000,000 108,000,000 87,000,000 
      repayment of line of credit
    		                   0        0 0   0    -140,000,000 -95,000,000 -110,000,000 -75,000,000 -30,000,000 -15,000,000 -40,000,000 0 0 -30,000,000 -30,000,000 0 0 -155,000,000 -64,899,000 0 -60,000,000 -198,000,000 -120,000,000 -253,000,000 -152,000,000 -90,000,000 -142,000,000 0    
      purchase of treasury stock, net of related payables
    		                   0 0 0 -18,123,000 -5,554,000 0 -8,445,000 -9,956,000                                    
      non-cash management contract termination gain
    		                       -329,000 0 -287,000 -353,000                                    
      acquisition of assets, net of related payables and cash received
    		                   0 -25,505,000 0 -446,688,000 -44,000    0 -451,000 -243,990,000 -27,330,000 -4,796,000 0   -2,000 -161,215,000 -104,984,000 -34,085,000 -89,000 -3,178,000 -51,330,000 -31,832,000 -4,307,000   -202,910,000 -1,037,000   -1,626,000 -3,898,000 -462,000 -745,000 -4,480,000 -17,833,000 -126,921,000 -22,867,000     
      amortization of deferred gain
    		                           -1,089,000 -1,090,000 -1,089,000 -1,090,000 -1,089,000 -1,091,000 -1,093,000 -1,093,000 -1,093,000 -1,093,000 -1,093,000 -1,093,000 -1,094,000 -1,093,000 -1,093,000 -1,085,000 -1,086,000 -1,086,000 -1,086,000 -1,086,000 -1,088,000 -1,085,000 -1,086,000 -1,085,000 -1,086,000 -1,086,000 -1,085,000 -1,087,000 -1,085,000 -1,085,000 -1,085,000 -1,086,000 -1,086,000 -1,086,000 -1,087,000 
      gain on facility lease termination and modification
    		                       1,382,000                                       
      non-cash interest expense on financing lease obligations
    		                           1,743,000 2,705,000 3,063,000 3,383,000 3,784,000 3,939,000 3,865,000 6,156,000                            
      property insurance proceeds
    		                           1,136,000 0 0 156,000 4,120,000 1,461,000 1,571,000 1,398,000                            
      proceeds from refundable entrance fees, net of refunds
    		                           -106,000 -368,000 -171,000 223,000 62,000 -687,000 -652,000 -902,000                            
      payments for lease termination
    		                           0 -2,000,000                                  
      debt modification and extinguishment costs
    		                       53,000 2,455,000 2,672,000 67,000 11,600,000 33,000 9,000 35,000                                
      goodwill and asset impairment
    		                       43,012,000 2,094,000 3,769,000 391,000 37,927,000 5,500,000 16,103,000 430,363,000 18,966,000                               
      sale of marketable securities
    		                        49,000,000     155,000,000 118,273,000                                
      equity in loss of unconsolidated ventures
    		                         991,000 526,000  1,340,000                      111,000 -358,000 935,000 173,000 1,024,000 308,000 601,000 1,453,000 1,419,000 1,649,000 469,000 168,000 
      (gain) on sale of assets
    		                                                              
      loss on facility lease termination and modification
    		                         1,797,000 209,000 5,197,000 2,337,000                                  
      net increase in cash, cash equivalents and restricted cash
    		                         -3,541,000 -121,718,000 250,120,000                                   
      cash, cash equivalents and restricted cash at beginning of period
    		                         0 450,218,000  0                                  
      cash, cash equivalents and restricted cash at end of period
    		                         -3,541,000 328,500,000  9,436,000                                  
      (gain) loss on sale of assets
    		                          702,000  -9,833,000 -23,322,000 -43,431,000     -926,000    135,000 0 -1,315,000             0        
      equity in loss (earnings) of unconsolidated ventures
    		                              4,243,000 4,516,000     3,277,000                          
      straight-line lease income
    		                           -6,808,000 -1,815,000 -2,430,000 -6,165,000                                
      tenant refundable fees and security deposits
    		                           -705,000 -38,000 -166,000 -137,000 -190,000 -17,000 82,000 -297,000 -335,000 9,000 -442,000 -245,000 -1,964,000 -287,000 310,000 -438,000 -451,000 -971,000 -1,298,000 -2,473,000 -2,221,000 -11,706,000 -370,000 -854,000 -1,807,000 184,000 1,184,000 1,006,000 748,000 5,826,000 -1,170,000 -65,000 527,000 1,580,000 602,000 
      deferred revenue
    		                           4,816,000 -12,506,000 -3,818,000 12,426,000 -15,430,000 -7,557,000 664,000 8,406,000 -5,316,000 7,750,000 12,168,000 -7,757,000 -739,000 -6,921,000 11,269,000 -1,730,000 -4,635,000 -3,735,000 8,365,000 5,782,000 -6,499,000 -6,747,000 15,057,000             
      additions to property, plant and equipment and leasehold intangibles
    		                           -56,124,000 -48,891,000 -53,866,000 -66,592,000 -73,843,000 -50,474,000 -40,642,000 -48,928,000                            
      repayment of debt and capital and financing lease obligations
    		                           -394,798,000 -35,679,000 -422,266,000 -44,001,000 -95,458,000 -869,499,000 -36,931,000 -52,273,000                            
      purchase of treasury stock
    		                                      0            0 -9,167,000           
      cash, cash equivalents and restricted cash at beginning of year
    		                                                              
      cash, cash equivalents and restricted cash at end of year
    		                                                              
      amortization of (above) below market lease
    		                            -672,000 -1,636,000 -1,938,000 -1,586,000 -1,697,000 -1,697,000 -1,697,000                            
      non-cash management contract termination fee
    		                            -573,000 -2,834,000 -2,242,000                                
      sale (purchase) of marketable securities
    		                                                              
      net decrease in cash, cash equivalents and restricted cash
    		                                                              
      deferred income tax provision
    		                              15,037,000  -31,704,000 -2,937,000 83,310,000                            
      accounts payable and accrued expenses
    		                              -21,370,000 16,932,000 26,523,000 3,645,000 -51,627,000 -10,871,000 -4,698,000 -23,705,000 10,895,000 1,509,000 -7,136,000 8,453,000 -17,496,000 15,511,000 2,035,000 -11,825,000 -8,270,000 17,744,000 6,847,000 4,966,000 12,377,000 19,214,000 -11,080,000 -5,083,000 13,144,000 19,131,000 4,993,000 -15,756,000  22,261,000 1,508,000 -5,104,000 
      net increase in cash and cash equivalents and restricted cash and escrow deposits
    		                              113,015,000                                
      cash and cash equivalents and restricted cash and escrow deposits at beginning of period
    		                              282,546,000                                
      cash and cash equivalents and restricted cash and escrow deposits at end of period
    		                              395,561,000                                
      loss on extinguishment of debt
    		                               45,000 573,000 42,000 54,000  0 221,000 0 715,000 15,254,000 2,894,000 0 856,000 682,000 19,000  1,178,000     231,000 2,821,000      1,414,000 0 1,334,000 
      loss on facility lease termination
    		                               2,970,000 4,938,000                              
      change in cash and escrow deposits — restricted
    		                               7,366,000 -4,619,000                              
      cash portion of loss on extinguishment of debt
    		                                    0 -118,000 0 -26,000 -14,153,000 -2,861,000 0 0 0 -179,000     0 -197,000 -231,000 -812,000         
      payment on lease termination
    		                               0 0                              
      net increase in cash and cash equivalents
    		                               -68,907,000    -40,998,000 26,736,000 11,277,000 -8,359,000    12,866,000 17,616,000   -92,943,000 63,702,000 43,104,000 -1,466,000   -59,094,000 18,632,000 37,845,000 -18,170,000 25,308,000 -12,113,000 -32,226,000   16,414,000 
      cash and cash equivalents at beginning of year
    		                                                              
      cash and cash equivalents at end of year
    		                                                              
      change in deferred lease liability
    		                                -3,078,000 -3,119,000 -3,007,000 748,000 1,344,000 1,642,000 3,602,000 1,824,000 1,456,000 1,726,000 2,412,000 2,812,000 2,161,000 3,136,000 3,778,000 3,793,000 4,032,000 4,248,000 4,910,000 4,709,000 5,215,000 5,751,000 6,624,000 6,451,000 6,028,000 6,336,000 8,077,000 6,124,000 5,239,000 5,259,000 
      non-cash stock-based compensation
    		                                7,527,000 7,246,000 7,774,000 6,894,000 6,335,000 6,435,000 5,540,000 5,221,000 4,555,000 4,540,000 4,960,000 5,823,000 5,105,000 4,871,000 5,386,000 7,869,000 6,871,000 6,809,000  6,737,000 8,621,000 8,010,000         
      cash and cash equivalents at beginning of period
    		                                0 0 216,397,000 69,240,000  30,836,000  0 0 81,827,000  0 0 66,370,000  0 0 53,973,000  0 0 100,904,000  0 0 68,034,000  0 0 77,682,000 
      cash and cash equivalents at end of period
    		                                140,026,000 92,291,000 59,237,000 28,242,000  42,113,000  -931,000 3,394,000 36,732,000  17,616,000 -14,268,000 65,613,000  63,702,000 43,104,000 52,507,000  -4,557,000 -59,094,000 119,536,000  -18,170,000 25,308,000 55,921,000  69,862,000 -63,698,000 94,096,000 
      equity in earnings of unconsolidated ventures
    		                                 4,570,000 -981,000 -115,000  -99,000 -1,137,000 117,000 -146,000 -266,000  -272,000 -119,000 -397,000                 
      net decrease in cash and cash equivalents
    		                                 92,291,000 -157,160,000      3,394,000 -45,095,000    -757,000                 
      increase in lease security deposits and lease acquisition deposits
    		                                  -420,000 -1,952,000 -1,232,000 -2,217,000 -1,497,000 -1,219,000                       
      increase in cash and escrow deposits — restricted
    		                                  -629,000         33,793,000 -5,804,000 -30,556,000  -827,000 4,030,000 -57,897,000  -3,962,000 16,830,000 -20,663,000         
      changes in operating assets and liabilities
    		                                                              
      proceeds from refundable entrance fees
    		                                   7,636,000 13,088,000 7,989,000 11,017,000 7,204,000 5,310,000 6,080,000 9,117,000 12,242,000 6,619,000 8,442,000 13,354,000 9,296,000 4,098,000 3,638,000 4,686,000 4,273,000 7,420,000 3,492,000 8,901,000 8,696,000 4,064,000 4,258,000 7,860,000 4,144,000 1,135,000 1,621,000 
      refunds of entrance fees
    		                                   -9,320,000 -7,801,000 -8,102,000 -8,868,000 -5,475,000 -6,481,000 -4,930,000 -4,954,000 -4,984,000 -5,360,000 -5,762,000 -6,074,000 -4,649,000 -6,357,000 -5,836,000 -4,819,000 -5,856,000 -4,843,000 -3,632,000 -4,069,000 -5,084,000 -4,089,000 -6,315,000 -4,648,000 -3,529,000 -308,000 -703,000 
      non-development capital expenditures
    		                                                              
      adjusted free cash flow of unconsolidated ventures
    		                                                              
      brookdale weighted-average ownership percentage
    		                                                              
      brookdale's proportionate share of adjusted free cash flow of unconsolidated ventures
    		                                                              
      add: non-development capital expenditures
    		                                                              
      less: recurring capital expenditures
    		                                                              
      cffo of unconsolidated ventures
    		                                                              
      brookdale's proportionate share of cffo of unconsolidated ventures
    		                                                              
      change in fair value of derivatives and amortization
    		                                   -135,000 -7,000 233,000 -273,000 1,508,000 2,635,000 8,000 -905,000 176,000 2,207,000 2,640,000 -2,628,000 2,478,000 -7,900,000 4,285,000 50,802,000 8,454,000 -36,743,000 45,633,000 42,329,000 43,731,000 -17,619,000 4,781,000     
      loss on acquisition
    		                                     636,000                         
      gain on facility lease termination
    		                                    -8,804,000 -2,780,000                         
      decrease in cash and escrow deposits — restricted
    		                                   826,000  8,442,000                         
      purchase of marketable securities — restricted
    		                                    -104,000 -399,000 0 0 -6,315,000 -26,409,000                     
      additions to property, plant and equipment and leasehold intangibles, net of related payables
    		                                   -51,614,000  -41,533,000  -46,659,000 -39,340,000 -28,589,000  -25,094,000 -22,408,000 -23,102,000  -24,573,000 -29,443,000 -33,491,000  -46,511,000 -41,455,000 -46,213,000         
      issuance of notes receivable
    		                                   -17,000                   2,581,000 -3,463,000 -4,820,000 -5,431,000 -7,519,000    
      repayment of debt and capital lease obligations
    		                                   -17,707,000 -54,878,000 -86,068,000 -18,992,000 -461,397,000 -283,626,000 -134,550,000                     
      refundable entrance fees:
    		                                                              
      recouponing and payment of swap termination
    		                                    -619,000 -99,000 0 0 -35,000 -64,000 0 -19,773,000 -14,000 -640,000     -30,513,000 -505,000 -3,180,000 -23,942,000         
      gain on sale of assets and unconsolidated ventures
    		                                                              
      gain on acquisition
    		                                    0  1,538,000                        
      lessor cash reimbursement for tenant incentive
    		                                                              
      change in future service obligation
    		                                          0 0                   
      increase in cash and escrow deposits – restricted
    		                                                              
      sale of marketable securities — restricted
    		                                      16,000 -2,000 608,000 809,000                     
      additions to property, plant and equipment, and leasehold intangibles, net of related payables
    		                                                              
      purchase of horizon bay realty, l.l.c., net of cash acquired
    		                                      0                        
      payments on notes receivable
    		                                                              
      proceeds from sale of unconsolidated venture
    		                                          0    12,000 0 -12,000 8,843,000 0            
      proceeds from issuance of convertible notes
    		                                      -21,000 -102,000                       
      issuance of warrants
    		                                      0 0                       
      purchase of bond hedge
    		                                      0 0                       
      (issuance of) payment on notes receivable
    		                                     -439,000         82,000 205,000 -759,000 -36,000             
      decrease (increase) in cash and escrow deposits – restricted
    		                                                              
      net proceeds from sale of assets
    		                                                              
      payments on (issuance of) notes receivable
    		                                                              
      proceeds from sale leaseback transaction
    		                                              0 0 0 9,166,000             
      proceeds from public equity offering
    		                                              -56,000 -81,000               
      decrease (increase) in cash and escrow deposits — restricted
    		                                       -2,052,000 3,841,000 54,455,000                     
      net proceeds from the sale of assets
    		                                       1,785,000                       
      receipt of notes receivable
    		                                                              
      payment on notes receivable
    		                                        0 403,000                     
      decrease in lease security deposits and lease acquisition deposits
    		                                         941,000  1,266,000 0 801,000 370,000 591,000 0 1,480,000 1,065,000 544,000 109,000 1,763,000 814,000 204,000 644,000 958,000     
      payment on (issuance of) notes receivable
    		                                          66,000 844,000 -343,000 512,000     -299,000 0 29,549,000 10,112,000         
      repayment of debt and capital lease obligation
    		                                            -134,031,000 -58,923,000 -11,393,000 -5,461,000 -5,330,000 -10,403,000 -26,279,000   -181,327,000 -61,007,000        
      payment of dividends
    		                                                  -25,759,000 -25,844,000 -25,955,000 -51,897,000 -51,837,000 -51,812,000 -46,590,000 -46,588,000 -41,302,000 -23,167,000 -23,167,000 -16,547,000 
      gain on sale of communities and investment in unconsolidated venture
    		                                                              
      net proceeds from the sale of property, plant and equipment
    		                                               0               
      supplemental disclosure of cash flow information:
    		                                                              
      interest paid
    		                                             32,822,000                 
      income taxes paid
    		                                             5,000                 
      non-cash portion of loss on extinguishment of debt
    		                                                              
      buyout of capital lease obligation
    		                                                      0 0       
      non cash portion of loss on extinguishment of debt
    		                                                              
      minority interest
    		                                                      113,000 5,000 -642,000 131,000 233,000 89,000 233,000 116,000 
      non cash stock-based compensation
    		                                                              
      net proceeds from sale of property, plant and equipment
    		                                                              
      proceeds from sale of business
    		                                                              
      proceeds from issuance of common stock
    		                                                          200,000    
      costs incurred related to initial public and follow-on equity offerings
    		                                                              
      change in future service obligations
    		                                                              
      repayment of debt
    		                                                        -14,104,000 -11,895,000 -8,561,000 -210,260,000 -7,422,000 -3,934,000 
      acquisition deposit
    		                                                         -10,116,000     
      loss on discontinued operations
    		                                                              
      stock-based compensation
    		                                                      -6,037,000 7,138,000 8,192,000 10,820,000     
      capital contributions from controlling shareholder
    		                                                              
      increase in cash and investments — restricted
    		                                                              
      additions to property, plant, equipment and leasehold intangibles, net of related payables
    		                                                       -44,624,000 -34,602,000 -34,331,000     
      costs incurred related to follow-on equity offering
    		                                                              
      increase in cash and investments – restricted
    		                                                        -8,359,000 -3,922,000     
      distributions from joint ventures from cumulative share of net earnings
    		                                                         46,000     
      investment in joint ventures
    		                                                         -785,000     
      distributions received from investments
    		                                                         943,000     
      gain on extinguishment of debt
    		                                                              
      loss on sale of assets
    		                                                          0    
      deferred income taxes provision
    		                                                          -24,810,000    
      compensation expenses related to restricted stock grants
    		                                                          13,987,000 5,852,000 3,755,000 3,018,000 
      long-term debt deferred interest and subsequent fee added to principal
    		                                                              
      accounts payable, accrued expenses and other
    		                                                              
      decrease (increase) in lease security deposits and lease acquisition deposits
    		                                                             5,548,000 
      decrease (increase) in cash and investments – restricted
    		                                                          17,277,000 3,424,000   
      additions to property, plant and equipment, and leasehold intangibles net of related payables
    		                                                              
      acquisition of property, plant and equipment and leasehold intangibles net of related payables and cash received
    		                                                              
      proceeds from sale leaseback, net of costs
    		                                                              
      distribution received from investments
    		                                                              
      distribution from unconsolidated venture
    		                                                              
      proceeds from sale of partnerships, net of minority interests
    		                                                              
      payment of swap termination
    		                                                              
      costs incurred related to initial public and add-on offerings
    		                                                              
      write-off of fully amortized intangible asset
    		                                                              
      supplemental schedule of noncash operating, investing and financing activities:
    		                                                              
      consolidation of three limited partnerships pursuant to eitf 04-5 on january 1, 2006 and subsequent sale and termination of one limited partnership:
    		                                                              
      property, plant and equipment
    		                                                              
      cash and investments-restricted
    		                                                              
      prepaid and other
    		                                                              
      accrued expenses
    		                                                              
      tenant security deposits
    		                                                              
      debt
    		                                                              
      net
    		                                                              
      additions to property, plant and equipment, net of related payables
    		                                                           -24,623,000 -8,220,000 -6,737,000 
      investment in joint venture
    		                                                              
      amortization and change in fair value of derivatives
    		                                                              
      decrease (increase) in lease security deposits
    		                                                              
      acquisition of assets, net of related payables
    		                                                            -334,032,000 -197,863,000 
      decrease in cash and investments — restricted
    		                                                             13,069,000 
      total revenues
    		                                                              
      adjusted ebitda
    		                                                              
      cash from facility operations
    		                                                              
      facility operating income
    		                                                              
      •
    		                                                              
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.