EMERITUS CORP\WA\

Condensed Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement of Cash Flows [Abstract]
Net Income (Loss) Attributable to Parent	$ (48,446)	$ (39,756)
Cash flows from operating activities:
Net loss	(49,008)	(39,665)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Depreciation and amortization	46,228	45,218
Amortization of above/below market rents	1,230	1,246
Amortization of deferred gains	(224)	(248)
Loss on lease termination	85	0
Loss (gain) on early extinguishment of debt	233	(493)
Impairment of long-lived assets	2,399	0
Amortization of loan fees	705	790
Allowance for doubtful receivables	2,759	2,172
Net equity losses for unconsolidated joint ventures	131	12
Gain on sale of assets	(131)	0
Stock-based compensation	3,161	3,331
Change in fair value of derivative financial instruments	71	(5)
Deferred straight-line rent	5,590	216
Deferred revenue	258	2,088
Non-cash interest expense	7,466	7,975
Other	26	80
Changes in operating assets and liabilities:	(22,991)	5,044
Net cash (used in) provided by operating activities	(2,012)	27,761
Cash flows from investing activities:
Purchase of property and equipment	(18,008)	(15,907)
Acquisitions	0	(78)
Proceeds from the sale of assets	13,895	0
Increase (Decrease) in Lease Acquisition Costs	(89)	(1,029)
Advances (to) from affiliates and other managed communities, net	(898)	1,273
Distributions from unconsolidated joint ventures, net	79	14,926
Net cash used in investing activities	(5,021)	(815)
Cash flows from financing activities:
Sale of stock and exercise of options, net	17,168	37,826
Proceeds from (Payments to) Noncontrolling Interests	0	(3,726)
Increase in restricted deposits	(159)	(525)
Debt issuance and other financing costs	(91)	(819)
Proceeds from long-term borrowings and financings	0	50,000
Repayment of long-term borrowings and financings	(19,711)	(49,972)
Repayment of capital lease and financing obligations	(8,176)	(6,001)
Net cash (used in) provided by financing activities	(10,969)	26,783
Net (decrease) increase in cash and cash equivalents	(18,002)	53,729
Cash and cash equivalents at the beginning of the period	76,672
Cash and cash equivalents at the end of the period	58,670	113,524
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	62,218	63,582
Cash paid during the period for income taxes	204	462
Cash received during the period for income tax refunds	446	19
Cash and non-cash financing and operating activities:
Change in receivable from exercise of stock options	893	793
Capital Leases, Balance Sheet, Assets by Major Class, Net	$ 0	$ 32,596

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$ 58,670	$ 76,672
Short-term investments	7,692	7,394
Trade accounts receivable, net of allowance of $10,375 and $9,380	56,555	53,714
Other receivables	12,299	10,310
Tax, insurance, and maintenance escrows	29,506	28,067
Prepaid insurance expense	27,676	28,109
Deferred tax asset	48,126	49,203
Other prepaid expenses and current assets	15,803	14,588
Property held for sale	7,714	17,459
Total current assets	264,041	285,516
Investments in unconsolidated joint ventures	2,571	2,720
Property and equipment, net of accumulated depreciation of $746,269 and $701,743	3,840,932	3,875,172
Restricted deposits and escrows	85,677	80,919
Goodwill	189,382	189,626
Other intangible assets, net of accumulated amortization of $42,479 and $40,665	121,743	123,557
Other assets, net	37,228	37,138
Total assets	4,541,574	4,594,648
Current Liabilities:
Current portion of long-term debt	141,848	152,989
Current portion of capital lease and financing obligations	35,671	33,565
Trade accounts payable	13,167	30,856
Accrued employee compensation and benefits	48,384	44,603
Accrued interest	7,497	7,529
Accrued real estate taxes	14,471	16,528
Accrued insurance liabilities	40,710	40,482
Other accrued expenses	42,653	39,954
Deferred revenue	26,349	25,822
Unearned rental income	32,654	30,745
Total current liabilities	403,404	423,073
Long-term debt obligations, less current portion	1,336,672	1,345,242
Capital lease and financing obligations, less current portion	2,479,631	2,481,930
Deferred gain on sale of communities	2,561	2,786
Deferred straight-line rent	78,111	74,320
Other long-term liabilities	154,961	153,278
Total liabilities	4,455,340	4,480,629
Commitments and contingencies
Shareholders' Equity and Noncontrolling Interest:
Preferred stock, $0.0001 par value. Authorized 20,000,000 shares, none issued	0	0
Common stock, $0.0001 par value. Authorized 100,000,000 shares, issued and outstanding 48,999,284 and 48,111,623 shares	5	5
Additional paid-in capital	913,542	892,319
Accumulated deficit	(829,100)	(780,654)
Total Emeritus Corporation shareholders' equity	84,447	111,670
Noncontrolling interest	1,787	2,349
Total shareholders' equity	86,234	114,019
Total liabilities, shareholders' equity, and noncontrolling interest	$ 4,541,574	$ 4,594,648