Slide 1: Supplemental Operating and Financial Data March 31, 2012
Supplemental Operating and Financial Data March 31, 2012 (Unaudited) Pasadena, TX 196 licensed beds
Slide 2: Table of Contents
Table of Contents 2 CORPORATE Company Information 3 Additional Information 4 Forward-Looking Statements 5 Non-GAAP Information 5 Acquisitions 6 Real Estate Portfolio Summary 7-8 Real Estate Portfolio Diversification 9-11 Top Ten Operators - Owned Portfolio 12 Market Capitalization 13 Lease & Mortgag
Slide 3: Company Information
3 Company Information CORPORATE Andre Dimitriadis Wendy Simpson Edmund King Executive Chairman Timothy Triche, MD Boyd Hendrickson Devra Shapiro Lead Director Andre Dimitriadis Wendy Simpson Pam Kessler Executive Chairman Chief Executive Officer and President Executive Vice President and Chief Finan
Slide 4: Additional Information: Analyst Coverage
4 CORPORATE Additional Information BMO Capital Markets Corp. J.J. B. Hilliard, W.L. Lyons, Inc. JMP Securities, LLC Richard Anderson John Roberts Peter Martin KeyBanc Capital Markets, Inc. RBC Capital Markets Corporation Sandler O'Neill + Partners, L.P. Karin Ford Frank Morgan James Milam Stifel, Ni
Slide 5: Forward-Looking Statements
5 Forward-Looking Statements This supplemental information contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform
Slide 6: Acquisitions: Year 2011 – 2012
6 Acquisitions: Year 2011 – 2012 REAL ESTATE PORTFOLIO (dollar amounts in thousands) Red Oak, TX 144 licensed beds Crowley, TX 120 licensed beds DATE # OF PROPERTIES ASSET CLASS # BEDS/UNITS LOCATION OPERATOR DATE OF CONSTRUCTION PURCHASE PRICE ANNUAL GAAP REVENUE GAAP Lease Yield 02/28/11 2 OTHER 1
Slide 7: Real Estate Portfolio Summary
7 Real Estate Portfolio Summary REAL ESTATE PORTFOLIO “Same Property Portfolio” Quality Mix (dollar amounts in thousands) For the Three Months Ended March 31, 2012 Private Pay 62.8% Medicare 12.9% Medicaid 24.3% (1) Quality mix for our skilled nursing portfolio, for the period presented, is 22.8% Pr
Slide 8: Same Property Portfolio Statistics
8 “Same Property Portfolio” Statistics (1) Real Estate Portfolio Summary Historical “Same Property Portfolio” SNF Coverage (1) REAL ESTATE PORTFOLIO EBITDAR Coverage EBITDARM Coverage 4Q11 2.06 2.76 3Q11 2.16 2.93 2Q11 2.15 2.91 1Q11 2.11 2.89 (1) Data from property level operator financial statemen
Slide 9: Real Estate Portfolio Diversification: Property and Asset Type
9 Real Estate Portfolio Diversification REAL ESTATE PORTFOLIO Owned and Loan Portfolio – Property and Asset Type Diversification Gross Gross Property Type Investment % % Asset Type Investment % Skilled Nursing 89 404,721 $ 51.0% 11,027 $ 49.2% Real Property 740,951 $ 93.3% Assisted Living 102 308,64
Slide 10: Real Estate Portfolio Diversification: State Diversification
10 Real Estate Portfolio Diversification REAL ESTATE PORTFOLIO Owned and Loan Portfolio - State Diversification By Property Type Due to master leases with properties in multiple states, revenue by state is not available. Under Development Properties. See definition in the Glossary. (dollar amounts i
Slide 11: Real Estate Portfolio Diversification: Operator Diversification
11 Real Estate Portfolio Diversification REAL ESTATE PORTFOLIO Owned Portfolio – Operator Diversification Operator % % Extendicare REIT and Assisted Living Concepts, Inc 37 88,034 $ 11.9% 10,963 $ 12.9% Brookdale Senior Living Communities, Inc. 35 84,210 11.4% 10,734 12.6% Preferred Care 25 77,206 1
Slide 12: Top Ten Operators – Owned Portfolio
12 Top Ten Operators – Owned Portfolio REAL ESTATE PORTFOLIO Extendicare REIT and Assisted Living Concepts, Inc (TSX: EXE.UN) operates 262 senior care facilities in Canada and in the United States with the ability to serve approximately 28,213 residents. EHSI offers a continuum of health care servic
Slide 13: Market Capitalization
13 Market Capitalization Includes amortization of debt issue cost. Includes letter of credit fees. Non-traded shares. Two million shares outstanding with a face rate of 8.5% and a liquidation value of $19.25 per share, convertible into common stock on a one-for-one basis. Our Series C preferred stoc
Slide 14: Lease and Mortgage Loan Receivable Maturity
14 Lease and Mortgage Loan Receivable Maturity LTC’s investment portfolio has a long-term weighted roll-over maturity schedule. Over 77% of the portfolio has lease expirations beyond 2017. Over 22% of outstanding mortgage loans mature after 2017. FINANCIAL Investment Portfolio Maturity Schedule (as
Slide 15: Debt Maturity
15 Debt Maturity (in thousands) FINANCIAL (in thousands) $ - $ - $ 600 $ 600 - 4,167 635 4,802 73,000 29,166 1,400 103,566 - 16,667 - 16,667 - 14,167 - 14,167 - 14,167 - 14,167 - 11,666 - 11,666 - 10,000 - 10,000 $ 73,000 $ 100,000 $ 2,635 $ 175,635 (1) Year 2018 2013 2014 Unsecured Line of Credit S
Slide 16: Financial Data Summary
16 Financial Data Summary FINANCIAL (dollar amounts in thousands) 12/31/09 12/31/10 12/31/11 12/31/11 3/31/12 Net Real Estate Assets $444,163 $515,983 $599,916 $599,916 $611,643 Total Assets 490,593 561,264 647,097 647,097 658,604 Total Debt 25,410 91,430 159,200 159,200 175,635 Total Liabilities 36
Slide 17: Financial Data Summary: Normalized EBITDA Reconciliation
17 Financial Data Summary FINANCIAL (dollar amounts in thousands) Non-Cash Rental Revenue Components Net income $ 44,360 $ 46,053 $ 49,443 $ 12,604 $ 12,932 Less: Gain on sale - (310) - - (16) Add: Interest expense 2,418 2,653 6,434 1,993 2,033 Add: Depreciation and amortization (including discontin
Slide 18: Consolidated Statements of Income
Consolidated Statements of Income 18 FINANCIAL (dollar amounts in thousands, except per share amounts, unaudited) 2012 2011 Revenues Rental income 20,872 $ 18,182 $ Interest from mortgage loans 1,532 1,656 Interest and other income 236 415 Total revenues 22,640 20,253 Expenses Interest expense 2,033
Slide 19: Consolidated Balance Sheets
Consolidated Balance Sheets 19 FINANCIAL (amounts in thousands) March 31, 2012 December 31, 2011 March 31, 2012 December 31, 2011 (unaudited) (unaudited) ASSETS LIABILITIES Real estate investments: Bank borrowings 73,000 $ 56,000 $ Land 58,462 $ 57,059 $ Senior unsecured notes 100,000 100,000 Buildi
Slide 20: Funds from Operations
Funds from Operations 20 FINANCIAL (dollar amounts in thousands, except per share amounts)) 2012 2011 Net income available to common stockholders $ 12,009 $ 5,393 Add: Depreciation and amortization (continuing and discontinued operations) 5,167 4,521 Less: Gain on sale of assets, net (16) - FFO avai
Slide 21: Glossary
21 GLOSSARY Glossary Adjusted Funds From Operations (“AFFO”): FFO excluding the effects of non - cash rental income. Assisted Living Properties (“ALF”) : Senior housing properties serving elderly persons who require assistance with activities of daily living, but do not require the constant supervis
Slide 22: Glossary
22 GLOSSARY Glossary Licensed Beds/Units: The number of beds and/or units that an operator is authorized to operate at a senior housing property. Licensed beds and/or units may differ from the number of beds and/or units in service at any given time. Net Real Estate Assets: Gross investment less acc
Slide 23: Glossary
23 GLOSSARY Glossary Same Property Portfolio ( “SPP”) : Same property statistics allow management to evaluate the performance of LTC’s leased property portfolio under a consistent population, which eliminates the changes in the composition of our portfolio of properties. We identif your same propert