Brookdale Senior Living Q2 2024 10-Q Filed

TL;DR

**Brookdale Senior Living (BKD) filed its Q2 2024 10-Q, check financials.**

AI Summary

Brookdale Senior Living Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and first half of the year, detailing financial performance and operational updates. Key financial data and business segments are presented, with a focus on healthcare resident services and management services.

Why It Matters

This filing provides investors with crucial financial and operational data for Brookdale Senior Living, impacting investment decisions and market perception.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the senior living industry can be subject to regulatory, economic, and operational risks.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-08-09 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-01-01 to 2024-06-30 — Year-to-Date Period (Covers the first six months of the fiscal year for financial reporting.)

Key Players & Entities

• Brookdale Senior Living Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240809 (date) — Filing date
• 111 WESTWOOD PLACE SUITE 400 (address) — Company business and mailing address
• BRENTWOOD, TN 37027 (address) — Company business and mailing address

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 Par Value Per Share BKD New York Stock

Filing Documents

• bkd-20240630.htm (10-Q) — 1434KB
• a2q24ex311certification.htm (EX-31.1) — 12KB
• a2q24ex312certification.htm (EX-31.2) — 12KB
• a2q24exhibit32certification.htm (EX-32) — 5KB
• 0001332349-24-000102.txt ( ) — 6746KB
• bkd-20240630.xsd (EX-101.SCH) — 49KB
• bkd-20240630_cal.xml (EX-101.CAL) — 82KB
• bkd-20240630_def.xml (EX-101.DEF) — 213KB
• bkd-20240630_lab.xml (EX-101.LAB) — 615KB
• bkd-20240630_pre.xml (EX-101.PRE) — 395KB
• bkd-20240630_htm.xml (XML) — 889KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets - As of June 30, 2024 (Unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations - Three and six months ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Equity - Three and six months ended June 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows - Six months ended June 30, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 42

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements BROOKDALE SENIOR LIVING INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except stock amounts) June 30, 2024 December 31, 2023 Assets (Unaudited) Current assets Cash and cash equivalents $ 290,018 $ 277,971 Marketable securities 19,727 29,755 Restricted cash 43,959 41,341 Accounts receivable, net 49,782 48,393 Prepaid expenses and other current assets, net 89,343 80,908 Total current assets 492,829 478,368 Property, plant and equipment and leasehold intangibles, net 4,256,490 4,330,629 Operating lease right-of-use assets 603,816 670,907 Restricted cash 28,527 30,356 Goodwill 27,321 27,321 Other assets, net 41,903 35,854 Total assets $ 5,450,886 $ 5,573,435 Liabilities and Equity Current liabilities Current portion of long-term debt $ 60,939 $ 41,463 Current portion of financing lease obligations 1,123 1,075 Current portion of operating lease obligations 199,226 192,631 Trade accounts payable 74,700 66,526 Accrued expenses 231,908 242,668 Refundable fees and deferred revenue 54,189 55,753 Total current liabilities 622,085 600,116 Long-term debt, less current portion 3,679,102 3,655,850 Financing lease obligations, less current portion 150,240 150,774 Operating lease obligations, less current portion 584,556 683,876 Deferred tax liability 5,627 5,987 Other liabilities 67,603 71,679 Total liabilities 5,109,213 5,168,282 Preferred stock, $ 0.01 par value, 50,000,000 shares authorized at June 30, 2024 and December 31, 2023; no shares issued and outstanding — — Common stock, $ 0.01 par value, 400,000,000 shares authorized at June 30, 2024 and December 31, 2023; 207,728,540 and 198,780,826 shares issued and 197,201,015 and 188,253,301 shares outstanding, respectively 2,077 1,988 Additional paid-in-capital 4,346,116 4,342,362 Treasury stock, at cost; 10,527,525 shares at June 30, 2024 and December 31, 2023 ( 102,774 ) ( 102,774 ) Accumulated deficit ( 3,905,205 ) ( 3,837,912 ) Total Brook

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View this 10-Q filing on SEC EDGAR