CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013		Dec. 31, 2012
Real estate:
Buildings and improvements	$ 10,623,382		$ 10,537,484
Development costs and construction in progress	223,534		236,864
Land	1,853,392		1,850,397
Accumulated depreciation and amortization	(1,822,628)		(1,739,718)
Net real estate	10,877,680		10,885,027
Net investment in direct financing leases	6,921,421		6,881,393
Loans receivable, net	291,870		276,030
Investments in and advances to unconsolidated joint ventures	209,810		212,213
Accounts receivable, net of allowance of $1,632 and $1,668, respectively	32,183		34,150
Cash and cash equivalents	47,547		247,673
Restricted cash	37,675		37,848
Intangible assets, net	537,692		552,701
Other assets, net	776,853		788,520
Total assets	19,732,731	[1]	19,915,555	[1]
LIABILITIES AND EQUITY
Bank line of credit	14,000
Term loan	208,213		222,694
Senior unsecured notes	6,563,749		6,712,624
Mortgage debt	1,680,792		1,676,544
Other debt	78,836		81,958
Intangible liabilities, net	101,633		105,909
Accounts payable and accrued liabilities	238,583		293,994
Deferred revenue	64,866		68,055
Total liabilities	8,950,672	[2]	9,161,778	[2]
Commitments and contingencies
Common stock, $1.00 par value: 750,000,000 shares authorized; 454,416,748 and 453,191,321 shares issued and outstanding, respectively	454,417		453,191
Additional paid-in capital	11,218,702		11,180,066
Cumulative dividends in excess of earnings	(1,075,249)		(1,067,367)
Accumulated other comprehensive loss	(16,604)		(14,653)
Total stockholders' equity	10,581,266		10,551,237
Joint venture partners	15,185		14,752
Non-managing member unitholders	185,608		187,788
Total noncontrolling interests	200,793		202,540
Total equity	10,782,059		10,753,777
Total liabilities and equity	$ 19,732,731		$ 19,915,555

[1] The Company's consolidated total assets at March 31, 2013 and December 31, 2012, include assets of certain variable interest entities ("VIEs") that can only be used to settle the liabilities of those VIEs as follows: accounts receivable, net, $2 million in each period presented; cash and cash equivalents, $10 million in each period presented; and other assets, net, $3 million and $2 million, respectively. See Note 16 to the Condensed Consolidated Financial Statements for additional information.

[2] The Company's consolidated total liabilities at March 31, 2013 and December 31, 2012, include liabilities of certain VIEs for which the VIE creditors do not have recourse to HCP, Inc. as follows: other debt, $0.2 million in each period presented; accounts payable and accrued liabilities, $15 million and $14 million, respectively; and deferred revenue, $2 million in each period presented. See Note 16 to the Condensed Consolidated Financial Statements for additional information.