$TIPT
TIPTREE INC.

2012 Form 10-K Financial Statement

#000119312513122652 Filed on March 25, 2013

View on sec.gov

Income Statement

Concept 2012 2011 Q4 2011
Revenue $70.21M $4.000M $14.48M
YoY Change 385.0% -29.82% -2.85%
Cost Of Revenue $35.90M
YoY Change
Gross Profit $34.30M
YoY Change
Gross Profit Margin 48.85%
Selling, General & Admin $4.756M $3.000M $3.609M
YoY Change 31.78% -9.09% -84.17%
% of Gross Profit 13.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.200M $1.000M $3.600M
YoY Change -38.89% 11.11% 0.0%
% of Gross Profit 6.41%
Operating Expenses $67.29M $4.000M $11.38M
YoY Change 491.49% -16.67% -56.91%
Operating Profit -$32.99M
YoY Change
Interest Expense $8.096M $800.0K -$1.800M
YoY Change -549.78% -128.57% -75.68%
% of Operating Profit
Other Income/Expense, Net $25.88M
YoY Change
Pretax Income $36.45M $16.00M $16.50M
YoY Change 120.91% -740.0% -185.05%
Income Tax -$321.0K $0.00 $0.00
% Of Pretax Income -0.88% 0.0% 0.0%
Net Earnings $8.729M $16.00M $16.53M
YoY Change -47.21% -740.0% -185.23%
Net Earnings / Revenue 12.43% 400.0% 114.22%
Basic Earnings Per Share $0.85 $1.63
Diluted Earnings Per Share $0.85 $1.495M $1.60
COMMON SHARES
Basic Shares Outstanding 10.29M shares 10.15M shares
Diluted Shares Outstanding 10.29M shares 10.31M shares

Balance Sheet

Concept 2012 2011 Q4 2011
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.60M $52.30M $52.30M
YoY Change 69.41% 946.0% 946.0%
Cash & Equivalents $88.60M $97.01M $52.30M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $88.60M $52.30M $52.30M
YoY Change 69.41% 925.49% 817.54%
LONG-TERM ASSETS
Property, Plant & Equipment $118.8M $122.3M $122.3M
YoY Change -2.86% 15.7% 15.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $105.9M $2.491M $8.300M
YoY Change 1175.9% -94.79% -82.64%
Other Assets $26.10M
YoY Change
Total Long-Term Assets $5.445B $141.9M $141.9M
YoY Change 3737.35% -12.29% -11.97%
TOTAL ASSETS
Total Short-Term Assets $88.60M $52.30M $52.30M
Total Long-Term Assets $5.445B $141.9M $141.9M
Total Assets $5.534B $194.2M $194.2M
YoY Change 2749.54% 16.37% 16.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.200M $2.200M
YoY Change 37.5% 37.5%
Accrued Expenses $1.800M $1.800M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.000M $4.000M
YoY Change 150.0% 150.0%
LONG-TERM LIABILITIES
Long-Term Debt $195.6M $96.10M $96.10M
YoY Change 103.54% 17.63% 17.63%
Other Long-Term Liabilities $4.803B $600.0K $600.0K
YoY Change 800333.33% -76.92% -76.92%
Total Long-Term Liabilities $4.998B $96.70M $96.70M
YoY Change 5068.77% 14.71% 14.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.000M $4.000M
Total Long-Term Liabilities $4.998B $96.70M $96.70M
Total Liabilities $5.323B $100.6M $100.6M
YoY Change 5191.05% 17.15% 17.11%
SHAREHOLDERS EQUITY
Retained Earnings $9.954M
YoY Change
Common Stock $83.63M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $211.0M $93.58M $93.60M
YoY Change
Total Liabilities & Shareholders Equity $5.534B $194.2M $194.2M
YoY Change 2749.54% 16.37% 16.36%

Cashflow Statement

Concept 2012 2011 Q4 2011
OPERATING ACTIVITIES
Net Income $8.729M $16.00M $16.53M
YoY Change -47.21% -740.0% -185.23%
Depreciation, Depletion And Amortization $2.200M $1.000M $3.600M
YoY Change -38.89% 11.11% 0.0%
Cash From Operating Activities $36.69M $3.200M $7.830M
YoY Change 368.53% -228.0% -176.02%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$300.0K
YoY Change -100.0% -100.0% 50.0%
Acquisitions $116.9M
YoY Change
Other Investing Activities -$144.2M $41.90M $29.50M
YoY Change -588.81% 13866.67% 80.98%
Cash From Investing Activities -$144.2M $42.00M $29.28M
YoY Change -592.55% 41900.0% 81.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.000K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $343.5M -1.800M 10.17M
YoY Change 3278.92% 800.0% -108.24%
NET CHANGE
Cash From Operating Activities $36.69M 3.200M 7.830M
Cash From Investing Activities -$144.2M 42.00M 29.28M
Cash From Financing Activities $343.5M -1.800M 10.17M
Net Change In Cash $235.9M 43.40M 47.27M
YoY Change 399.09% -1769.23% -140.23%
FREE CASH FLOW
Cash From Operating Activities $36.69M $3.200M $7.830M
Capital Expenditures $0.00 $0.00 -$300.0K
Free Cash Flow $36.69M $3.200M $8.130M
YoY Change 351.24% -239.13% -180.5%

Facts In Submission

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CY2011 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-77000
CY2011 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
-1273000
CY2011 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
222000
CY2011 us-gaap Investment Income Net
InvestmentIncomeNet
1100000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
6.24
CY2011 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4116000
CY2011 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
6279000
CY2011 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
200000
CY2011 us-gaap Interest Paid
InterestPaid
5275000
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
72000
CY2011 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3611000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
47274000
CY2011 us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
1079000
CY2011 us-gaap Straight Line Rent
StraightLineRent
1919000
CY2011 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
20800000
CY2011 us-gaap Equity Method Investment Net Sales Proceeds
EquityMethodInvestmentNetSalesProceeds
4400000
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.63
CY2011 us-gaap Net Income Loss
NetIncomeLoss
16534000
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.60
CY2011 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
12376000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10309765 shares
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10165000
CY2011 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
15327000
CY2011 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
264000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
9001 shares
CY2011 us-gaap Operating Expenses
OperatingExpenses
11376000
CY2011 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
260000
CY2011 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
15498000
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3609000
CY2011 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
14476000
CY2011 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-255000
CY2011 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
149000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
109154 shares
CY2011 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
600000
CY2011 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3088000
CY2011 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
shares
CY2011 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
207000
CY2011 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4116000
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200000
CY2011 us-gaap Interest Income Operating
InterestIncomeOperating
27000
CY2011 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
46897000
CY2011 us-gaap Derivative Instruments Gain Loss Recognized In Income Net
DerivativeInstrumentsGainLossRecognizedInIncomeNet
1079000
CY2011 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
2786000
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7830000
CY2011 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
617000
CY2011 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
75000
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
953000
CY2011 cvtr Unvested Restricted Stock Units
UnvestedRestrictedStockUnits
102984 shares
CY2011 cvtr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
16534000
CY2011 cvtr Share Based Compensation Net Settled Units As Common Stock Shares
ShareBasedCompensationNetSettledUnitsAsCommonStockShares
143026 shares
CY2011 cvtr Base Services Fees To Related Party
BaseServicesFeesToRelatedParty
409000
CY2011 cvtr Accrued Expenses For Financing Costs
AccruedExpensesForFinancingCosts
0
CY2011 cvtr Common Shares Pertaining To Op Units Issued To Cambridge
CommonSharesPertainingToOpUnitsIssuedToCambridge
19626 shares
CY2011 cvtr Incentive Fee To Related Party
IncentiveFeeToRelatedParty
2441000
CY2011 cvtr Issuance Of Stock For Related Party Incentive Fee
IssuanceOfStockForRelatedPartyIncentiveFee
143000
CY2011 cvtr Issuance Of Stock For Related Party Incentive Fee Shares
IssuanceOfStockForRelatedPartyIncentiveFeeShares
9853 shares
CY2011 cvtr Monthly Base Services Fee
MonthlyBaseServicesFee
One-twelfth of 0.5% of the Company's Equity
CY2011 cvtr Incentive Fees Payable
IncentiveFeesPayable
2400000
CY2011 cvtr Interest Expense Including Amortization Of Deferred Financing Costs
InterestExpenseIncludingAmortizationOfDeferredFinancingCosts
5755000
CY2011 cvtr Impairment On Investments In Partially Owned Entities
ImpairmentOnInvestmentsInPartiallyOwnedEntities
100000
CY2011 cvtr Shares Underlying Cambridge Warrant
SharesUnderlyingCambridgeWarrant
12367 shares
CY2011 cvtr Stock Issued To Related Parties
StockIssuedToRelatedParties
488000
CY2011 cvtr Operating Partnership Units
OperatingPartnershipUnits
2293000
CY2011 cvtr Percentage Of Adjusted Funds From Operation
PercentageOfAdjustedFundsFromOperation
0.15 pure
CY2011 cvtr Percentage Of Incentive Fees Paid In Shares
PercentageOfIncentiveFeesPaidInShares
0.20 pure
CY2011 cvtr Proceeds From Sale Of Investments And Income From Investments
ProceedsFromSaleOfInvestmentsAndIncomeFromInvestments
15300000
CY2011 cvtr Service Fees
ServiceFees
400000
CY2011 cvtr Stock Based Compensation To Directors For Services
StockBasedCompensationToDirectorsForServices
56000
CY2011 cvtr Reimbursable Income
ReimbursableIncome
1335000
CY2011 cvtr Stated Libor Rate
StatedLiborRate
0.0030 pure
CY2011 cvtr Reimbursed Property Expenses
ReimbursedPropertyExpenses
1306000
CY2011 cvtr Reimbursement For Office Related Service Expenses
ReimbursementForOfficeRelatedServiceExpenses
17000
CY2011 cvtr Related Party Base Management Fee Expense
RelatedPartyBaseManagementFeeExpense
2800000
CY2011 cvtr Income Loss From Equity Method Investments Including Gain On Sale
IncomeLossFromEquityMethodInvestmentsIncludingGainOnSale
800000
CY2011 cvtr Adjustments To Additional Paid In Capital Warrant Canceled
AdjustmentsToAdditionalPaidInCapitalWarrantCanceled
222000
CY2011 cvtr Noncash Interest From Investments In Loans
NoncashInterestFromInvestmentsInLoans
10000
CY2011 cvtr Stock Based Payments
StockBasedPayments
0
CY2008 cvtr Number Of States Consisting Senior Living Properties
NumberOfStatesConsistingSeniorLivingProperties
4 State
CY2008 cvtr Senior Living Properties
SeniorLivingProperties
14 Home
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
Yes
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001393726
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 dei Trading Symbol
TradingSymbol
CVTR
CY2012 dei Entity Registrant Name
EntityRegistrantName
Care Investment Trust Inc.
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2012 us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2018-09-30
CY2012 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1348000
CY2012 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Concentrations of Credit Risk</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Real estate triple-net leases and financial instruments, primarily consisting of cash, mortgage loan investments and interest receivable, potentially subject us to concentrations of credit risk. We may place our cash investments in excess of insured amounts with high-quality financial institutions. We perform ongoing analysis of credit risk concentrations in our real estate and loan investment portfolios by evaluating exposure to various markets, underlying property types, investment structure, term, sponsors, tenant mix and other credit metrics. Our triple-net leases rely on our underlying tenants. The collateral securing our investment in our remaining loan is real estate properties located in the U.S.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In addition, we are required to disclose fair value information about financial instruments, whether or not recognized in the financial statements, for which it is practical to estimate that value. In cases where quoted market prices are not available, fair value is based upon the application of discount rates to estimated future cash flows based on market yields or other appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts we could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.</font></p> </div>
CY2012 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Reclassification</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Certain prior period amounts have been reclassified to conform to the current period presentation.</font></p> </div>
CY2012 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
88000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
356000
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
727000
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
48000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.44
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10209497 shares
CY2012 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
-86000
CY2012 us-gaap Mortgage Loan On Real Estate Final Maturity Date
MortgageLoanOnRealEstateFinalMaturityDate
2016-11-01
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
7.27
CY2012 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
5565000
CY2012 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
324000
CY2012 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
200000
CY2012 us-gaap Interest Paid
InterestPaid
6298000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
259000
CY2012 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
72000
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3970000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5878000
CY2012 us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
86000
CY2012 us-gaap Straight Line Rent
StraightLineRent
1434000
CY2012 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2012-04-03
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-510000
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2012 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2012-05-01
CY2012 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
72000
CY2012 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
13769000
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10209497 shares
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6860000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
6.50
CY2012 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2012-04-17
CY2012 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
525000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
12823 shares
CY2012 us-gaap Operating Expenses
OperatingExpenses
10647000
CY2012 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
29000
CY2012 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
15680000
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4756000
CY2012 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
15962000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
30769 shares
CY2012 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
149000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
46423 shares
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-279000
CY2012 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
324000
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
207000
CY2012 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5565000
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200000
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (&#x201C;GAAP&#x201D;) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the consolidated financial statements and the accompanying notes. Significant estimates are made for the valuation of real estate and related intangibles, valuation of financial instruments, impairment assessments and fair value assessments with respect to purchase price allocations. Actual results could differ from those estimates.</font></p> </div>
CY2012 us-gaap Interest Income Operating
InterestIncomeOperating
75000
CY2012 us-gaap Derivative Instruments Gain Loss Recognized In Income Net
DerivativeInstrumentsGainLossRecognizedInIncomeNet
86000
CY2012 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
299000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
626000
CY2012 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
160000
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
16378000
CY2012 cvtr Unvested Restricted Stock Units
UnvestedRestrictedStockUnits
102984 shares
CY2012 cvtr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-556000
CY2012 cvtr Alternative Minimum Tax Rate
AlternativeMinimumTaxRate
0.20 pure
CY2012 cvtr Effective Income Tax Rate Reconciliation Alternative Minimum Tax Rate
EffectiveIncomeTaxRateReconciliationAlternativeMinimumTaxRate
0.10 pure
CY2012 cvtr Additional Base Rent Paid Over Period
AdditionalBaseRentPaidOverPeriod
P24M
CY2012 cvtr Base Services Fees To Related Party
BaseServicesFeesToRelatedParty
481000
CY2012 cvtr Accrued Expenses For Financing Costs
AccruedExpensesForFinancingCosts
5000
CY2012 cvtr Amortization Schedule
AmortizationSchedule
P25Y
CY2012 cvtr Allocation Of Excess Of Distributions Over Earnings Relating To Participating Securities
AllocationOfExcessOfDistributionsOverEarningsRelatingToParticipatingSecurities
46000
CY2012 cvtr Additional Base Rent Accrued
AdditionalBaseRentAccrued
Until July 2011
CY2012 cvtr Additional Base Rent
AdditionalBaseRent
300000
CY2012 cvtr Fixed Escalations Percentage
FixedEscalationsPercentage
0.030 pure
CY2012 cvtr Duration For Which Loans Will Be In Non Accrual Status
DurationForWhichLoansWillBeInNonAccrualStatus
P90D
CY2012 cvtr Fixed Escalations Period
FixedEscalationsPeriod
Through June 2023
CY2012 cvtr Incentive Fee To Related Party
IncentiveFeeToRelatedParty
0
CY2012 cvtr Issuance Of Stock For Related Party Incentive Fee
IssuanceOfStockForRelatedPartyIncentiveFee
345000
CY2012 cvtr Issuance Of Stock For Related Party Incentive Fee Shares
IssuanceOfStockForRelatedPartyIncentiveFeeShares
10684 shares
CY2012 cvtr Monthly Base Services Fee
MonthlyBaseServicesFee
One-twelfth of 0.5% of the Company's Equity
CY2012 cvtr Incentive Fees Payable
IncentiveFeesPayable
0
CY2012 cvtr Initial Annual Base Rent
InitialAnnualBaseRent
9100000
CY2012 cvtr Interest Expense Including Amortization Of Deferred Financing Costs
InterestExpenseIncludingAmortizationOfDeferredFinancingCosts
6310000
CY2012 cvtr Net Operating Losses Carryforward Maximum Period
NetOperatingLossesCarryforwardMaximumPeriod
P20Y
CY2012 cvtr Period Of Year For Which Cash Interest Greater Than Effective Interest
PeriodOfYearForWhichCashInterestGreaterThanEffectiveInterest
P2Y
CY2012 cvtr Services Agreement Expiration Date
ServicesAgreementExpirationDate
2013-12-31
CY2012 cvtr Services Agreement Amendment Date
ServicesAgreementAmendmentDate
2011-11-09
CY2012 cvtr Period Of Year For Which Cash Interest Less Than Effective Interest
PeriodOfYearForWhichCashInterestLessThanEffectiveInterest
P3Y
CY2012 cvtr Period For Non Qualification As Real Estate Investment Trust
PeriodForNonQualificationAsRealEstateInvestmentTrust
P4Y
CY2012 cvtr Percentage Of Adjusted Funds From Operation
PercentageOfAdjustedFundsFromOperation
0.15 pure
CY2012 cvtr Percentage Of Incentive Fees Paid In Shares
PercentageOfIncentiveFeesPaidInShares
0.20 pure
CY2012 cvtr Mortgage Loan On Real Estate Maturity Period
MortgageLoanOnRealEstateMaturityPeriod
P5Y
CY2012 cvtr Service Fees
ServiceFees
500000
CY2012 cvtr Stock Based Compensation To Directors For Services
StockBasedCompensationToDirectorsForServices
108000
CY2012 cvtr Reimbursable Income
ReimbursableIncome
1466000
CY2012 cvtr Stated Libor Rate
StatedLiborRate
0.0021 pure
CY2012 cvtr Reimbursed Property Expenses
ReimbursedPropertyExpenses
1440000
CY2012 cvtr Reimbursement For Office Related Service Expenses
ReimbursementForOfficeRelatedServiceExpenses
24000
CY2012 cvtr Related Party Base Management Fee Expense
RelatedPartyBaseManagementFeeExpense
500000
CY2012 cvtr Write Off Of Fully Depreciated Assets
WriteOffOfFullyDepreciatedAssets
9000
CY2012 cvtr Income Loss From Equity Method Investments Including Gain On Sale
IncomeLossFromEquityMethodInvestmentsIncludingGainOnSale
300000
CY2012 cvtr Stock Based Compensation To Employees
StockBasedCompensationToEmployees
151000
CY2012 cvtr Proposed Business Acquisition Transaction Acquisition Expenses
ProposedBusinessAcquisitionTransactionAcquisitionExpenses
1000000
CY2012 cvtr Noncash Interest From Investments In Loans
NoncashInterestFromInvestmentsInLoans
76000
CY2012 cvtr Proposed Contribution Transaction Expenses
ProposedContributionTransactionExpenses
300000
CY2012 cvtr Stock Based Payments
StockBasedPayments
454000
CY2011Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1400000
CY2011Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.135
CY2012Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1400000
CY2012Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
400000
CY2012Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.135
CY2012Q1 cvtr Treasury Note Maturity Date
TreasuryNoteMaturityDate
2021-11-30
CY2012Q2 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1400000
CY2012Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.135
CY2011Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1400000
CY2011Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.135
CY2012Q3 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1400000
CY2012Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.135
CY2010Q4 cvtr Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedInPeriodFairValue
400000
CY2011Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1400000
CY2011Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.135
CY2011Q4 cvtr Incentive Fees Payable
IncentiveFeesPayable
1700000
CY2011Q4 cvtr Percentage Of Incentive Fees Paid In Shares
PercentageOfIncentiveFeesPaidInShares
0.20 pure
CY2012Q4 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-03-21
CY2012Q4 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1400000
CY2012Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-04-18
CY2012Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
CY2012Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2012-04-04
CY2012Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.135

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