2018 Q2 Form 10-Q Financial Statement

#000133234918000094 Filed on May 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue $1.155B $1.187B $1.217B
YoY Change -2.64% -2.43% -3.67%
Cost Of Revenue $869.2M $894.6M $858.5M
YoY Change -0.37% 4.21% -4.73%
Gross Profit $286.0M $292.6M $358.3M
YoY Change -8.96% -18.33% -1.04%
Gross Profit Margin 24.75% 24.65% 29.45%
Selling, General & Admin $144.9M $161.8M $162.0M
YoY Change -6.58% -0.12% -14.83%
% of Gross Profit 50.67% 55.29% 45.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $118.5M $118.2M $130.1M
YoY Change -4.13% -9.12% 0.49%
% of Gross Profit 41.44% 40.4% 36.31%
Operating Expenses $261.0M $276.1M $289.4M
YoY Change -5.43% -4.6% -8.79%
Operating Profit -$137.6M -$413.8M $48.13M
YoY Change -555.99% -959.89% 16.38%
Interest Expense -$72.30M -$73.80M -$91.50M
YoY Change -9.85% -19.34% -3.89%
% of Operating Profit -190.13%
Other Income/Expense, Net $5.505M $2.586M $1.662M
YoY Change 146.2% 55.6% -67.01%
Pretax Income -$181.1M -$441.6M -$42.33M
YoY Change 268.96% 943.27% -10.22%
Income Tax -$15.55M $15.59M $84.03M
% Of Pretax Income
Net Earnings -$165.5M -$457.2M -$126.3M
YoY Change 257.53% 261.97% 158.95%
Net Earnings / Revenue -14.33% -38.51% -10.38%
Basic Earnings Per Share
Diluted Earnings Per Share -$882.2K -$2.446M -$680.1K
COMMON SHARES
Basic Shares Outstanding 187.6M shares 186.6M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $147.0M $510.0M $59.00M
YoY Change -18.78% 764.41% -16.9%
Cash & Equivalents $126.6M $335.4M $59.24M
Short-Term Investments $20.00M $175.0M
Other Short-Term Assets $286.0M $257.0M $276.0M
YoY Change 14.86% -6.88% 10.4%
Inventory
Prepaid Expenses
Receivables $118.0M $125.5M $138.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $551.1M $892.1M $473.7M
YoY Change -1.74% 88.31% 1.44%
LONG-TERM ASSETS
Property, Plant & Equipment $5.716B $5.775B $6.512B
YoY Change -11.02% -11.31% -18.64%
Goodwill $154.1M $154.1M $710.8M
YoY Change -78.32% -78.32%
Intangibles $59.82M $60.66M
YoY Change
Long-Term Investments $32.00M $78.00M $203.0M
YoY Change -83.76% -61.58% -45.58%
Other Assets $191.6M $199.5M $224.5M
YoY Change -2.58% -11.15% -24.91%
Total Long-Term Assets $6.179B $6.295B $7.764B
YoY Change -19.04% -18.92% -18.46%
TOTAL ASSETS
Total Short-Term Assets $551.1M $892.1M $473.7M
Total Long-Term Assets $6.179B $6.295B $7.764B
Total Assets $6.730B $7.187B $8.238B
YoY Change -17.86% -12.75% -17.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.00M $73.00M $64.00M
YoY Change 2.56% 14.06% -30.43%
Accrued Expenses $306.3M $310.0M $292.1M
YoY Change 5.8% 6.11% -21.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $250.9M $535.5M $174.7M
YoY Change -54.85% 206.48% -36.7%
Total Short-Term Liabilities $736.2M $1.064B $706.3M
YoY Change -31.68% 50.68% -17.49%
LONG-TERM LIABILITIES
Long-Term Debt $3.471B $3.343B $3.389B
YoY Change 14.11% -1.37% -44.94%
Other Long-Term Liabilities $204.1M $213.5M $221.2M
YoY Change -6.41% -3.49% -54.58%
Total Long-Term Liabilities $3.675B $3.556B $3.611B
YoY Change 12.73% -1.5% -45.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $736.2M $1.064B $706.3M
Total Long-Term Liabilities $3.675B $3.556B $3.611B
Total Liabilities $5.809B $6.108B $6.283B
YoY Change -7.45% -2.79% -16.98%
SHAREHOLDERS EQUITY
Retained Earnings -$3.164B -$2.998B -$2.096B
YoY Change 47.67% 43.03%
Common Stock $1.938M $1.938M $1.918M
YoY Change 1.15% 1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $56.44M $56.44M $56.44M
YoY Change 0.0% 0.0%
Treasury Stock Shares 3.178M shares 3.178M shares 3.178M shares
Shareholders Equity $921.2M $1.080B $1.955B
YoY Change
Total Liabilities & Shareholders Equity $6.730B $7.187B $8.238B
YoY Change -17.86% -12.75% -17.53%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$165.5M -$457.2M -$126.3M
YoY Change 257.53% 261.97% 158.95%
Depreciation, Depletion And Amortization $118.5M $118.2M $130.1M
YoY Change -4.13% -9.12% 0.49%
Cash From Operating Activities $60.60M $37.96M $66.77M
YoY Change -54.67% -43.14% -5.08%
INVESTING ACTIVITIES
Capital Expenditures -$297.9M $66.59M $48.93M
YoY Change 624.82% 36.1% -54.91%
Acquisitions $27.33M $0.00
YoY Change -100.0%
Other Investing Activities $218.2M $0.00 -$696.0K
YoY Change -1266.84% -100.0% 728.57%
Cash From Investing Activities -$79.70M $91.16M -$199.7M
YoY Change 33.28% -145.64% 168.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -185.9M -$16.10M -$23.56M
YoY Change -1058.25% -31.65% 80.38%
NET CHANGE
Cash From Operating Activities 60.60M $37.96M $66.77M
Cash From Investing Activities -79.70M $91.16M -$199.7M
Cash From Financing Activities -185.9M -$16.10M -$23.56M
Net Change In Cash -205.0M $113.0M -$156.5M
YoY Change -319.72% -172.2% 811.81%
FREE CASH FLOW
Cash From Operating Activities $60.60M $37.96M $66.77M
Capital Expenditures -$297.9M $66.59M $48.93M
Free Cash Flow $358.5M -$28.63M $17.85M
YoY Change 105.09% -260.43% -146.76%

Facts In Submission

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CY2018Q1 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Brookdale Senior Living Inc. ("Brookdale" or the "Company") is the leading operator of senior living communities throughout the United States. The Company is committed to providing senior living solutions primarily within properties that are designed, purpose-built and operated to provide quality service, care and living accommodations for residents. The Company operates independent living, assisted living and dementia-care communities and continuing care retirement centers ("CCRCs"). Through its ancillary services programs, the Company also offers a range of home health, hospice, and outpatient therapy services to residents of many of its communities and to seniors living outside its communities.</font></div></div>
CY2018Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company's condensed consolidated financial position or results of operations.</font></div></div>

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