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Exhibit 99.2
SUPPLEMENTAL INFORMATION
Three Months Ended March 31, 2011

Dollars in thousands, except per share data
Furnished as of May 9, 2011
(Unaudited)
(HEALTHCARE LOGO)
Copies of this report may be obtained at www.healthcarerealty.com or by contacting Gabrielle M. Andrés at 615.269.8471 or gandres@healthcarerealty.com.
In addition to the historical information contained within, the matters discussed in this report may contain forward-looking statements that involve estimates, assumptions, risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2010 under the heading “Risk Factors,” and as updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company’s judgment as of the date of this report. The Company disclaims any obligation to update these estimates, assumptions and other forward-looking material.
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 1 of 8


 

TABLE OF CONTENTS
         
Schedule 1 — Corporate Information
    3  
Schedule 2 — Consolidated Balance Sheets
    4  
Schedule 3 — Investment Progression
    5  
Schedule 4 — Investment by Type and Geographic Location
    6  
Schedule 5 — Development Properties
    7  
Schedule 6 — Lease Maturity Schedule
    7  
Schedule 7 — Square Feet Owned and/or Managed
    8  
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 2 of 8


 

(1)   CORPORATE INFORMATION
  A)   Corporate Headquarters:
Healthcare Realty Trust Incorporated
Healthcare Realty Services Incorporated

3310 West End Avenue, Suite 700
Nashville, TN 37203
Phone: 615.269.8175
Fax: 615.269.8461
E-mail: communications@healthcarerealty.com
  B)   Stock Exchange, Symbol and CUSIP Number:
                         
Security Description   Stock Exchange     Symbol     CUSIP Number  
Common Stock
  NYSE   HR     421946104  
Senior Notes due 2014
  OTC   HR     421946AF1  
Senior Notes due 2017
  OTC   HR     42225BAA44  
Senior Notes due 2021
  OTC   HR     421946AG9  
  C)   Web Site: www.healthcarerealty.com
  D)   Executive Officers:
David R. Emery, Chairman of the Board and Chief Executive Officer
John M. Bryant, Jr., Executive Vice President and General Counsel
Scott W. Holmes, Executive Vice President and Chief Financial Officer
B. Douglas Whitman, II, Executive Vice President — Corporate Finance
Todd J. Meredith, Executive Vice President — Investments
  E)   Board of Directors:
David R. Emery, Chairman of the Board and Chief Executive Officer, Healthcare Realty Trust Incorporated
Errol L. Biggs, Ph.D., Director, Graduate Programs in Health Administration, University of Colorado
C. Raymond Fernandez, M.D., Retired Chief Executive Officer, Piedmont Clinic
Batey M. Gresham, Jr., A.I.A., Founder, Gresham Smith & Partners
Edwin B. Morris III, Managing Director, Morris & Morse Company, Inc.
J. Knox Singleton, President and Chief Executive Officer, Inova Health Systems
Bruce D. Sullivan, Retired Audit Partner, Ernst & Young LLP
Dan S. Wilford, Retired President and Chief Executive Officer, Memorial Hermann Healthcare System
Roger O. West, Former General Counsel, Healthcare Realty Trust Incorporated
  F)   Professional Services:
Independent Registered Public Accounting Firm
BDO USA, LLP
414 Union Street, Suite 1800
Nashville, TN 37219

Transfer Agent
Wells Fargo N.A.
Shareowner Services
161 North Concord Exchange
South St. Paul, MN 55075-1139
  G)   Dividend Reinvestment Plan:
Through the Company’s transfer agent, Wells Fargo, named shareholders of record can re-invest dividends in shares at a 5% discount and may also purchase up to $60 thousand of HR common stock per calendar year without a service or sales charge. For information, write Wells Fargo Shareowner Services, P.O. Box 64854, St. Paul, MN 55164-0856, or call 1.800.468.9716. Information may also be obtained at the transfer agent’s website, www.shareowneronline.com.
  H)   Direct Deposit of Dividends:
Direct deposit of dividends is offered as a convenience to shareholders of record. For information, write Wells Fargo Shareowner Services, P.O. Box 64854, St. Paul, MN 55164-0856, or call 1.800.468.9716. Information may also be obtained at the transfer agent’s website, www.shareowneronline.com.
  I)   Investor Relations:
Healthcare Realty Trust Incorporated
3310 West End Avenue, Suite 700
Nashville, TN 37203
Attention: Gabrielle M. Andrés
Phone: 615.269.8471
Fax: 615.983.8569
E-mail: gandres@healthcarerealty.com
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 3 of 8


 

(2) CONDENSED CONSOLIDATED BALANCE SHEETS
                 
    March 31,     December 31,  
    2011     2010  
ASSETS
               
 
               
Real estate properties:
               
Land
  $ 163,598     $ 163,020  
Buildings, improvements, and lease intangibles
    2,317,702       2,310,404  
Personal property
    18,073       17,919  
Construction in progress
    98,590       80,262  
 
           
 
    2,597,963       2,571,605  
Less accumulated depreciation
    (505,784 )     (484,641 )
 
           
Total real estate properties, net
    2,092,179       2,086,964  
 
               
Cash and cash equivalents
    3,007       113,321  
 
               
Mortgage notes receivable
    88,171       36,599  
 
               
Assets held for sale and discontinued operations, net
    16,694       23,915  
 
               
Other assets, net
    96,661       96,510  
 
           
 
               
Total assets
  $ 2,296,712     $ 2,357,309  
 
           
 
               
LIABILITIES AND EQUITY
               
 
               
Liabilities:
               
Notes and bonds payable
  $ 1,293,086     $ 1,407,855  
 
               
Accounts payable and accrued liabilities
    55,822       62,652  
 
               
Liabilities of discontinued operations
    145       423  
 
               
Other liabilities
    45,212       43,639  
 
           
 
               
Total liabilities
    1,394,265       1,514,569  
 
               
Commitments and contingencies
               
 
               
Equity:
               
Preferred stock, $.01 par value; 50,000,000 shares authorized; none issued and outstanding
           
 
               
Common stock, $.01 par value; 150,000,000 shares authorized; 70,265,262 and 66,071,424 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively
    703       661  
 
               
Additional paid-in capital
    1,730,808       1,641,379  
 
               
Accumulated other comprehensive loss
    (5,269 )     (5,269 )
 
               
Cumulative net income attributable to common stockholders
    790,376       796,165  
 
               
Cumulative dividends
    (1,614,171 )     (1,593,926 )
 
           
 
               
Total stockholders’ equity
    902,447       839,010  
 
               
Noncontrolling interests
          3,730  
 
           
 
               
Total equity
    902,447       842,740  
 
           
 
               
Total liabilities and equity
  $ 2,296,712     $ 2,357,309  
 
           
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 4 of 8


 

(3) INVESTMENT PROGRESSION (1)
  A)   Construction in Progress
                 
            Three  
    Number of     Months Ended  
    Properties     March 31, 2011  
     
Balance at beginning of period
    3     $ 80,262  
 
               
Fundings on projects in existence at the beginning of the period
          18,328  
 
               
New projects started during the period
           
 
               
Completions
           
     
 
               
Balance at end of period
    3     $ 98,590  
     
  B)   Real Estate Properties
                 
            Three  
    Number of     Months Ended  
    Properties     March 31, 2011  
     
Balance at beginning of period
    198     $ 2,491,343  
 
               
Acquisitions
           
 
               
Additions/Improvements
          6,953  
 
               
Completions (CIP)
           
 
               
Assets previously classified as held for sale reclassified to held for use
    1       1,077  
 
               
Dispositions
           
     
 
               
Balance at end of period
    199     $ 2,499,373  
     
  C)   Mortgage Notes Receivable
                 
            Three  
    Number of     Months Ended  
    Investments     March 31, 2011  
     
Balance at beginning of period
    7     $ 36,599  
 
               
Fundings of new mortgages (2)
    3       43,228  
 
               
Fundings on mortgages in existence at the beginning of the period
          8,252  
 
               
Repayments
           
 
               
Amortization of loan origination fee
          92  
     
 
               
Balance at end of period
    10     $ 88,171  
     
 
(1)   Balances exclude investments in one unconsolidated joint venture and properties classified as held for sale.
 
(2)   During the first quarter of 2011, the Company fully funded a mortgage note receivable secured by a multi-tenanted office building located in Iowa, a mortgage note receivable secured by a physician clinic located in Florida, and partially funded a construction loan for a medical office building located in Missouri.
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 5 of 8


 

(4) INVESTMENT BY TYPE AND GEOGRAPHIC LOCATION (1)
                                                                                         
            Medical     Physician     Specialty     Surgical     Inpatient                            
            Office     Clinics     Outpatient     Facilities     Rehab     Other     Development Properties (2)             % of  
            (MOB)     (PC)     (SOP)     (SF)     (IRF)     (OTH)     Stabilization     CIP     Total     Total  
             
Master Leases                                                                                
  1    
Alabama
                  $ 2,698             $ 17,722     $ 9,493                     $ 29,913       1.1 %
  2    
Arizona
                                    16,012                               16,012       0.6 %
  3    
California
          $ 8,363                               12,688                       21,051       0.8 %
  4    
Florida
  $ 17,454       28,554                       11,703                               57,711       2.0 %
  5    
Georgia
            2,683             $ 3,133                                       5,816       0.2 %
  6    
Illinois
    11,939                       1,570                                       13,509       0.5 %
  7    
Iowa
    24,200       1,866       2,154                                               28,220       1.1 %
  8    
Indiana
            21,597               43,406                                       65,003       2.4 %
  9    
Massachusetts
            12,081                                                       12,081       0.4 %
  10    
Missouri
                            5,208                                       5,208       0.2 %
  11    
Pennsylvania
                                    113,867                               113,867       4.2 %
  12    
Tennessee
                                            7,874                       7,874       0.3 %
  13    
Texas
                            109,314       19,451                               128,765       4.8 %
  14    
Virginia
    7,020       30,919                               1,671                       39,610       1.5 %
  15    
Washington
    39,629                                                               39,629       1.5 %
             
       
Master Leases
  $ 100,242     $ 106,063     $ 4,852     $ 162,631     $ 178,755     $ 31,726     $     $     $ 584,269       21.6 %
             
       
 
                                                                               
             
            (3) Normalized same facility NOI growth for Master Leases (1Q2011 vs. 1Q2010):                     1.8
             
       
 
                                                                               
Operating Properties                                                                                
  1    
Alabama
    15,519       2,405                                                       17,924       0.7 %
  2    
Arizona
    33,045       2,020                                     $ 39,064               74,129       2.8 %
  3    
California
    97,551                       5,924                                       103,475       3.8 %
  4    
Colorado
    49,417                                               23,713     $ 23,237       96,367       3.6 %
  5    
District of Columbia
    32,311                                                               32,311       1.2 %
  6    
Florida
    119,501       21,708                                                       141,209       5.3 %
  7    
Georgia
    7,822                                                               7,822       0.3 %
  8    
Hawaii
    24,774                                               83,609               108,383       4.0 %
  9    
Illinois
    24,276                                               25,907               50,183       1.9 %
  10    
Indiana
    77,928                                                               77,928       2.9 %
  11    
Iowa
    59,421                                                               59,421       2.2 %
  12    
Kansas
    13,996                                                               13,996       0.5 %
  13    
Louisiana
    11,815                                                               11,815       0.4 %
  14    
Maryland
    9,828                                                               9,828       0.4 %
  15    
Michigan
    24,089                                                               24,089       0.9 %
  16    
Mississippi
    8,379                                                               8,379       0.3 %
  17    
Missouri
    37,528                                                               37,528       1.4 %
  18    
Nevada
    8,084                       3,801                                       11,885       0.4 %
  19    
North Carolina
    143,075                                                               143,075       5.3 %
  20    
Ohio
    14,500                                                               14,500       0.5 %
  21    
Oregon
    20,577                                                               20,577       0.8 %
  22    
Pennsylvania
    10,798                                                               10,798       0.4 %
  23    
South Carolina
    10,953                                                               10,953       0.4 %
  24    
Tennessee
    166,343                                       1,077                       167,420       6.2 %
  25    
Texas
    529,936       20,162               25,578                       61,073               636,749       23.7 %
  26    
Virginia
                    2,562                       10,133                       12,695       0.5 %
  27    
Washington
    19,884                                                       54,581       74,465       2.8 %
             
       
Operating Properties
  $ 1,571,350     $ 46,295     $ 2,562     $ 35,303     $     $ 11,210     $ 233,366     $ 77,818     $ 1,977,904       73.6 %
             
       
 
                                                                               
             
            (3) Normalized same facility NOI growth for Operating Properties (1Q2011 vs. 1Q2010):                     2.0 %
             
       
 
                                                                               
Land Held for Development                                                             20,772       20,772       0.8 %
Corporate Property                                                                     15,018       0.6 %
             
       
Total Equity Investments
$ 1,671,592     $ 152,358     $ 7,414     $ 197,934     $ 178,755     $ 42,936     $ 233,366     $ 98,590     $ 2,597,963       96.6 %
             
       
 
                                                                               
 
       
Average Age of Facility (years)
    19       24       12       18       23       29                       20          
 
       
 
                                                                               
 
       
1Q 2011 Economic Occupancy (4)
  86 %     83 %     100 %     88 %     95 %     81 %     16 %             82 %        
 
       
 
                                                                               
 
       
1Q 2011 Stabilized Occupancy(4)
    86 %     83 %     100 %     88 %     95 %     81 %                     86 %        
 
       
 
                                                                               
Mortgage Investments     14,702       17,620               15,849               40,000                       88,171       3.3 %
Unconsolidated Joint Venture                                             1,266                        1,266        0.1
             
       
 
                                                                               
       
Total Investments
$ 1,686,294     $ 169,978     $ 7,414     $ 213,783     $ 178,755     $ 84,202     $ 233,366     $ 98,590     $ 2,687,400       100.0 %
             
       
 
                                                                               
       
Percent of $ Invested
    63.1 %     6.3 %     0.3 %     8.0 %     6.7 %     3.2 %     8.7 %     3.7 %     100.0 %        
                 
       
 
                                                                               
       
Number of Investments
    140       29       3       11       11       8       8       3       213          
                 
 
(1)   Excludes assets held for sale.
 
(2)   Development properties are all MOBs. Properties in Stabilization generated an aggregate net operating loss of approximately $0.9 million for the three months ended March 31, 2011. The Properties in Stabilization are estimated to have a weighted average remaining lease-up period of seven quarters.
 
(3)   The ‘same facility’ portfolio includes those properties that were in operation for the full quarter and for the full corresponding quarter of the prior year. The normalized same facility NOI growth rate in the portfolio is not representative of the entire portfolio. ''Normalized” means adjusted for items that would otherwise prohibit a meaningful comparison of NOI for the two periods. Approximately 85% of the Company’s owned real estate portfolio is included in the calculation of the ‘same facility’ NOI growth.
 
(4)   The economic and stabilized occupancies assume that properties under a Property Operating Agreement or Master Lease Agreement have 100% economic occupancy. The average underlying tenant occupancy of the eight properties under Property Operating Agreements was approximately 61%. The economic occupancy includes and the stabilized occupancy excludes the nine development properties currently in Stabilization. The properties in Stabilization are currently 27% leased. The difference between occupied and leased is that “occupied” refers to tenants currently occupying the space and “leased” refers to tenants that have signed leases but have not taken occupancy due to finalizing the buildout of their suite.
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 6 of 8


 

(5) DEVELOPMENT PROPERTIES (1)
     CONSTRUCTION IN PROGRESS
                                                         
    Estimated                             CIP at     Estimated     Estimated  
    Completion     Property             Approximate     March 31,     Remaining     Total  
State   Date     Type     Properties     Square Feet     2011     Fundings     Investment  
 
Under construction:
                                                       
 
                                                       
Washington
    3Q 2011     MOB     1       206,000     $ 54,581     $ 37,619     $ 92,200  
Colorado
    3Q 2011     MOB     1       101,907       12,184       15,925       28,109  
Colorado
    1Q 2012     MOB     1       97,093       11,053       15,738       26,791  
 
                                                       
Land held for development:
                                                       
 
                                                       
Texas
                                    20,772                  
 
                                                       
                     
 
                    3       405,000     $ 98,590     $ 69,282     $ 147,100  
                     
 
(1)   Properties currently under construction generally reach stabilized occupancy within two to three years following completion.
     STABILIZATION IN PROGRESS
                                                                         
            Date                     Investment at     Estimated                     Estimated  
    Number of     Transferred     Property     Square     March 31,     Total     1Q 2011             Stabilization  
State   Properties     from CIP     Type     Feet     2011     Investment     NOI     Leased     Date  
 
Colorado
    2       3Q 2008     MOB     161,099     $ 23,714     $ 27,400     $ (245 )     54 %     4Q 2011  
Arizona
    2       4Q 2008     MOB     179,963       39,064       42,700       (107 )     17 %     1Q 2012  
Texas
    1       3Q 2009     MOB     129,879       32,836       33,000       45       38 %     2Q 2012  
Illinois
    1       4Q 2009     MOB     95,436       25,907       26,400       (179 )     15 %     3Q 2012  
Texas
    1       4Q 2009     MOB     116,838       28,236       29,300       (80 )     23 %     4Q 2012  
Hawaii
    1       3Q 2010     MOB     127,268       83,609       86,000       (291 )     12 %     4Q 2013  
 
                                                                       
                                             
 
                            810,483     $ 233,366     $ 244,800     $ (857 )                
                                             
(6) LEASE MATURITY SCHEDULE (1)
                                 
    Annualized                     Average  
    Minimum     Number of     Percentage     Square Feet  
    Rents (2)     Leases     of Revenues     Per Lease  
     
2011
  $ 26,499       276       11.6 %     3,798  
2012
    30,910       308       13.5 %     4,035  
2013
    34,077       280       14.9 %     4,692  
2014
    35,569       303       15.5 %     4,987  
2015
    19,753       202       8.6 %     4,577  
2016
    13,305       84       5.8 %     6,314  
2017
    18,210       71       8.0 %     12,611  
2018
    12,322       79       5.3 %     7,351  
2019
    5,596       28       2.4 %     7,124  
2020
    8,621       29       3.8 %     11,064  
Thereafter
    24,022       58       10.6 %     17,205  
 
(1)   Mortgage notes receivable, an investment in one unconsolidated joint venture and assets classified as held for sale are excluded.
 
(2)   Represents the annualized minimum rents on leases in-place, excluding the impact of potential lease renewals, future step-ups in rent, or sponsor support payments under financial support agreements and straight-line rent.
 
   
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 7 of 8


 

(7) SQUARE FEET OWNED AND/OR MANAGED (1)
     A) By Geographic Location
                                                                                         
    Number of Properties     Owned (2)     Third Party              
            Third             Managed (3)     Development Properties     Not     Property              
    Owned     Party     Total     Internal     Third Party     Stabilization (3)     CIP     Managed     Management     Total     Percent  
     
1 Texas
    51               51       3,071,961       302,094       246,717               337,771               3,958,543       29.1 %
2 Tennessee
    16       5       21       1,260,260                               75,000       251,394       1,586,654       11.7 %
3 Florida
    22               22       714,092       33,628                       324,131               1,071,851       7.9 %
4 North Carolina
    14               14       724,291                                               724,291       5.3 %
5 Indiana
    5               5               382,695                       175,999               558,694       4.1 %
6 California
    10               10       458,955                               93,000               551,955       4.0 %
7 Colorado
    7               7       192,280               161,099       199,000                       552,379       4.0 %
8 Pennsylvania
    7               7       63,914                               437,601               501,515       3.7 %
9 Arizona
    10       1       11       202,082               179,963               51,903       59,106       493,054       3.6 %
10 Virginia
    8               8               136,427                       339,777               476,204       3.5 %
11 Washington
    5               5       73,548                       206,000       159,071               438,619       3.2 %
12 Iowa
    9               9               265,063                       104,117               369,180       2.7 %
13 Illinois
    4               4       142,955               95,436               115,100               353,491       2.6 %
14 Alabama
    6               6       120,192                               224,794               344,986       2.6 %
15 Hawaii
    3               3       173,502               127,268                               300,770       2.2 %
16 Michigan
    3               3       199,749                                               199,749       1.5 %
17 Missouri
    5               5       177,039                               13,478               190,517       1.4 %
18 District of Columbia
    2               2       182,836                                               182,836       1.3 %
19 Louisiana
    2               2               136,155                                       136,155       1.0 %
20 Mississippi
    1       1       2       58,036                                       40,192       98,228       0.7 %
21 Massachusetts
    2               2                                       100,742               100,742       0.7 %
22 Georgia
    3               3               58,030                       20,749               78,779       0.6 %
23 Ohio
    1               1               73,331                                       73,331       0.5 %
24 Kansas
    1               1       70,908                                               70,908       0.5 %
25 Oregon
    1               1       62,246                                               62,246       0.5 %
26 Maryland
    1               1       58,903                                               58,903       0.4 %
27 Nevada
    2               2       16,878       31,026                                       47,904       0.4 %
28 South Carolina
    1               1       39,801                                               39,801       0.3 %
 
                                                                                       
 
                                                                 
Total Properties / Square Feet
    202       7       209       8,064,428       1,418,449       810,483       405,000       2,573,233       350,692       13,622,285       100.0 %
 
                                                                 
     B) By Facility Type
                                                                         
    Owned     Third Party              
    Managed (3)     Stabilization     Construction     Not     Total     Property              
    Internal     Third Party     in Progress (3)     in Progress     Managed     Owned     Management     Total     Percent  
     
Medical Office
    7,538,765       1,282,022       810,483       405,000       548,163       10,584,433       350,692       10,935,125       80.3 %
Physician Clinics
    295,970                               601,814       897,784               897,784       6.6 %
Independent Rehab
                                    735,072       735,072               735,072       5.4 %
Surgical Facilities
    211,997                               381,837       593,834               593,834       4.4 %
Other
    17,696       126,427                       283,694       427,817               427,817       3.1 %
Specialty Outpatient
            10,000                       22,653       32,653               32,653       0.2 %
 
                                                                       
     
Total Square Feet
    8,064,428       1,418,449       810,483       405,000       2,573,233       13,271,593       350,692       13,622,285       100.0 %
     
 
                                                                       
Percent of Total Square Footage
    59.3 %     10.4 %     5.9 %     3.0 %     18.9 %     97.5 %     2.5 %     100.0 %        
             
 
                                                                       
Total Number of Properties
    123       21       8       3       47       202       7       209          
             
     C) By Occupancy
                                                                 
                                                            % of Total  
    Medical     Physician     Surgical     Specialty     Inpatient                     Square  
Occupants Greater than 1%   Office     Clinics     Facilities     Outpatient     Rehab     Other     Total     Feet  
     
1    Baylor Health Care System
    782,679       73,501       156,245                               1,012,425       7.7 %
2    HealthSouth
                                    695,286               695,286       5.2 %
3    Carolinas Healthcare System
    572,400                                               572,400       4.3 %
4    HCA
    146,903       235,600       20,938                       16,400       419,841       3.2 %
5    Ascension Health Care System
    200,169                                               200,169       1.5 %
6    OrthoIndy
            58,474       117,525                               175,999       1.3 %
 
                                                               
All Other Occupants Less than 1%
    8,882,282       530,209       299,126       32,653       39,786       411,417       10,195,473       76.8 %
 
                                                               
     
Total Square Feet
    10,584,433       897,784       593,834       32,653       735,072       427,817       13,271,593       100.0 %
     
 
(1)   Mortgage notes receivable, an investment in one unconsolidated join venture and assets classified as held for sale are excluded.
 
(2)   Approximately 69% of the portfolio are located on or adjacent to a hospital campus.
 
(3)   The owned and managed portfolio, excluding third party managed properties, consists of 1,676 leases with an average of 4,376 square feet per lease.
Healthcare Realty Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2011

Page 8 of 8