Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2013

Selected Quarterly Financial Data (Unaudited)

Selected Quarterly Financial Data (Unaudited)

(26) Selected Quarterly Financial Data (Unaudited)

        Selected quarterly information for the years ended December 31, 2013 and 2012 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 2013
	March 31		June 30		September 30		December 31
Total revenues	$	511,184	$	512,239	$	546,158	$	530,297
Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		217,667		199,916		214,176		220,256
Total discontinued operations		2,232		2,828		9,824		59,489
Net income		233,784		216,725		236,858		297,639
Net income applicable to HCP, Inc.		230,585		213,401		233,756		293,095
Dividends paid per common share		0.525		0.525		0.525		0.525
Basic earnings per common share		0.51		0.47		0.51		0.64
Diluted earnings per common share		0.51		0.47		0.51		0.64

	Three Months Ended During 2012
	March 31		June 30		September 30		December 31
Total revenues	$	450,608	$	456,130	$	469,999	$	503,233
Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures		176,483		186,931		181,457		200,210
Total discontinued operations		5,671		2,465		3,607		33,909
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

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

• •

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

  •

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

  •

  The Company received £129 million ($202 million) from the par payoff of its Barchester debt investments generating $24 million of interest income during the quarter ended September 30, 2013.

  •

  The Company's Board of Directors terminated its former Chairman, Chief Executive Officer and President on October 2, 2013. As a result of the termination, the Company incurred severance-related charges of $26 million that include: (i) the acceleration of $17 million of deferred compensation for restricted stock units and options that vested upon termination; and (ii) severance payments and other costs of approximately $9 million.