Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from Derrick Dagnan – Avondale Partners.
Derrick Dagnan – Avondale Partners, LLC
Good afternoon. I wonder if your balance is like contractual allowance if you do not mind on the pharmacy business, just go and back and looking at the revenue performances of this business over last several quarters. I do not remember, you guys, experiencing this large of contractual allowance and I just like to get a little color on that on the relative sides of that allowance and what happen.
Francis Murphy
Sure, this is Fran. We had not reported on the contractual in the past. This is primarily related to our buildings under Medicare party. During the quarter we experienced some unusually high contractual charges that were ultimately determined to be about $260,000 in excess of what should had been recorded. As we [dag] into a week, we concluded that we needed to book in adjustment of 993,000 to property we state these reserves. This is all related to the prior periods.
Derrick Dagnan – Avondale Partners, LLC
So the 260 in that, on top of that was 990 for prior period?
Francis Murphy
That is right. We pro forma the impact each of the quarters throughout 2008.
Derrick Dagnan – Avondale Partners, LLC
Okay. I guess, could you give us a little color on the recent acquisitions you announced information on, maybe occupancy levels or daily rates if you are not willing to give us the specific numbers maybe just related to your existing business that was lower than existing business or higher.
Francis Murphy
No, I mean most, if you look they are all independent in the senior living. Our independent living, occupancy level that mostly properties are significantly higher than our same store communities, two in Alabama, the eight in Indiana and the one we just record in Bloomington are all stabilized communities, all have occupancies, on average in excess of 90% and the one in Alabama and Indiana, the average daily rate is probably less than our overall same store [IAL] portfolio and the one in Bloomington, Indiana is probably on par and even slightly higher. They do have a skill nursing component there. So that that will be a little bit higher than the other one.
Derrick Dagnan – Avondale Partners, LLC
Okay, I will hop on and let others ask question. Thank you.
Francis Murphy
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