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Ventas Reports 19 Percent Increase In Second Quarter 2012 Normalized FFO To $0.95 Per Diluted Share

FFO and normalized FFO presented herein are not necessarily identical to FFO and normalized FFO presented by other real estate companies due to the fact that not all real estate companies use the same definitions. FFO and normalized FFO should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of the Company’s financial performance or as alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of the Company’s liquidity, nor are FFO and normalized FFO necessarily indicative of sufficient cash flow to fund all of the Company’s needs. The Company believes that in order to facilitate a clear understanding of the consolidated historical operating results of the Company, FFO and normalized FFO should be examined in conjunction with net income as presented elsewhere herein.

NORMALIZED FFO GUIDANCE FOR THE YEAR ENDING DECEMBER 31, 2012

The following table illustrates the Company’s normalized FFO per diluted common share guidance for the year ending December 31, 2012:

                   
UPDATED GUIDANCE PRIOR GUIDANCE
For the Year For the Year
Ending Ending
December 31, 2012 December 31, 2012
Net income attributable to common stockholders $ 1.08 - $ 1.28 $ 1.08 - $ 1.23
Adjustments:
Depreciation and amortization on real estate
assets, depreciation related to noncontrolling interest
and gain/loss on real estate dispositions, net   2.26 -   2.18   2.21 -   2.14
FFO 3.34 - 3.46 3.29 - 3.37
Adjustments:
Income tax benefit/expense, gain/loss on
extinguishment of debt, amortization of intangibles,
merger-related expenses, integration expenses and deal
costs and other   0.36 -   0.28   0.34 -   0.32
Normalized FFO $ 3.70 - $ 3.74 $ 3.63 - $ 3.69
 




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