XML 25 R50.htm IDEA: XBRL DOCUMENT v2.4.0.6
HCR ManorCare Acquisition (Details) (USD $)
1 Months Ended 3 Months Ended 6 Months Ended
Apr. 30, 2011
Mar. 31, 2011
D
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Apr. 07, 2011
item
Total purchase price consideration              
Payment of aggregate cash consideration, net of cash acquired     $ 10,970,000 $ 113,790,000 $ 10,970,000 $ 113,790,000  
HCP's loan investment in HCR ManorCare's debt settled at fair value       1,990,406,000   1,990,406,000  
HCR ManorCare
             
Acquisition              
Number of post-acute, skilled nursing and assisted living facilities acquired             334
Number of states where acquired post-acute, skilled nursing and assisted living facilities are located             30
Amount paid for additional equity interest acquired through exercise of option             95,000,000
Percentage of additional interest acquired through exercise of option             9.90%
Total purchase price consideration              
Payment of aggregate cash consideration, net of cash acquired             3,801,624,000
HCP's loan investment in HCR ManorCare's debt settled at fair value             1,990,406,000
Assumed HCR ManorCare accrued liabilities at fair value             224,932,000
Total purchase consideration             6,016,962,000
Legal, accounting and other fees and costs             26,839,000
Gain on settlement of loan investments 23,000,000            
Cost of transaction classified as general and administrative expense             15,500,000
Cost of transaction classified as interest expense             11,300,000
Assets acquired              
Net investments in direct financing leases             6,002,074,000
Cash and cash equivalents             6,996,000
Intangible assets, net             14,888,000
Total assets acquired             6,023,958,000
Total liabilities assumed             224,932,000
Net assets acquired             5,799,026,000
Length of bridge loan facility term (in days)   365          
Bridge loan commitments obtained from a syndicate of banks   3,300,000,000          
Total revenues     143,000,000 130,000,000 285,000,000 130,000,000  
Net income (loss)     158,000,000 145,000,000 313,000,000 145,000,000  
Unaudited pro forma consolidated results of operations              
Revenues       472,186,000   911,959,000  
Net income       219,335,000   409,372,000  
Net income applicable to HCP, Inc.       $ 213,842,000   $ 399,988,000  
Basic earnings per common share (in dollars per share)       $ 0.51   $ 0.96  
Diluted earnings per common share (in dollars per share)       $ 0.51   $ 0.96