Extendicare Inc T.EXE

RE: RE: bottom

[milliondollar]

the book value of this stock if you strip out the goodwill is negative $30 million.  I am thinking that the real estate may be worth more than what it is on the books for...but most of the property is in the US which is still under water:

 

in thousands of Canadian dollars, unless otherwise noted)		December 31 2012	December 31 2011
Assets
Current assets
	Cash and short-term investments	71,398	80,018
	Restricted cash	28,680	16,848
	Accounts receivable, less allowance	209,518	222,707
	Income taxes recoverable	4,149	8,223
	Other current assets	31,408	32,279
	Total current assets	345,153	360,075
Non-current assets
	Property and equipment, including construction-in-progress of $62,688 and $18,770, respectively	1,181,596	1,192,913
	Goodwill and other intangible assets	82,793	87,269
	Other assets	176,457	154,695
	Deferred tax assets	21,917	35,752
	Total non-current assets	1,462,763	1,470,629
Total Assets		1,807,916	1,830,704
Liabilities and Equity
Current liabilities
	Accounts payable	35,508	42,241
	Accrued liabilities	202,913	224,693
	Accrual for self-insured liabilities	21,888	24,408
	Current portion of long-term debt	93,448	192,698
	Income taxes payable	9,377	10,519
	Total current liabilities	363,134	494,559
Non-current liabilities
	Provisions	26,851	26,105
	Accrual for self-insured liabilities	74,042	55,015
	Long-term debt	1,038,787	941,742
	Other long-term liabilities	48,025	49,638
	Deferred tax liabilities	202,417	215,326
	Total non-current liabilities	1,390,122	1,287,826
Total liabilities		1,753,256	1,782,385
Shareholders'/Unitholders' equity		54,660	48,319
Total Liabilities and Equity