Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

Selected Quarterly Financial Data

Selected Quarterly Financial Data

(26) Selected Quarterly Financial Data

        Selected quarterly information for the years ended December 31, 2012 and 2011 is as follows (in thousands, except per share amounts). Results of operations for properties sold or to be sold have been classified as discontinued operations for all periods presented:

	Three Months Ended During 2012
	March 31		June 30			September 30		December 31
	(in thousands, except per share data, unaudited)
Total revenues	$	455,827	$	461,251		$	475,157	$	508,487
Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		179,808		190,016			183,897		203,072
Total discontinued operations		2,371		(597	)		1,153		31,031
Net income		196,564		204,975			199,043		246,260
Net income applicable to HCP, Inc.		193,380		202,024			196,108		241,028
Dividends paid per common share		0.50		0.50			0.50		0.50
Basic earnings per common share		0.43		0.48			0.46		0.54
Diluted earnings per common share		0.43		0.48			0.45		0.53

	Three Months Ended During 2011
	March 31		June 30		September 30		December 31
	(in thousands, except per share data, unaudited)
Total revenues	$	327,960	$	484,941	$	440,914	$	458,281
Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		71,602		217,897		157,464		54,875
Total discontinued operations		1,621		1,653		962		2,920
Net income		73,984		234,252		175,471		70,787
Net income applicable to HCP, Inc.		70,093		228,759		172,195		67,844
Dividends paid per common share		0.48		0.48		0.48		0.48
Basic earnings per common share		0.17		0.55		0.41		0.15
Diluted earnings per common share		0.17		0.55		0.41		0.15

        The above selected quarterly financial data includes the following significant transactions:

• •

  On January 14, 2011, the Company acquired its partner's 65% interest in HCP Ventures II, a joint venture that owned 25 senior housing facilities, becoming the sole owner of the portfolio. The impact of the Company's consolidation of HCP Ventures II is included in the results beginning in the quarter ended March 31, 2011.

  •

  On April 7, 2011, the Company completed its acquisition of substantially all of the real estate assets of HCR ManorCare. The impact of the HCR ManorCare Acquisition is included in the results beginning in the quarter ended June 30, 2011.

  •

  On September 1, 2011, the Company completed a strategic venture with Brookdale that includes the operation of 37 HCP-owned senior living communities previously leased to or operated by Horizon Bay. The impact of reflecting the facility-level results for the 21 RIDEA facilities operated by Brookdale is included in the results beginning in the quarter ended September 30, 2011.

  •

  On November 9, 2011, the Company entered into an agreement with Ventas to settle all remaining claims relating to Ventas's litigation against HCP arising out of Ventas's 2007 acquisition of Sunrise Senior Living REIT. The Company paid $125 million to Ventas and incurred a charge during the quarter ended December 31, 2011 for such amount.

  •

  The Company redeemed all outstanding preferred stock during the quarter ended March 31, 2012.

  •

  The Company completed the acquisition of the 129 senior housing portfolio during the quarter ended December 31, 2012.