CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Real estate:
Buildings and improvements	$ 10,852,544		$ 10,544,110
Development costs and construction in progress	261,514		225,869
Land	1,885,081		1,822,862
Accumulated depreciation and amortization	(2,159,115)		(1,965,592)
Net real estate	10,840,024		10,627,249
Net investment in direct financing leases	7,245,122		7,153,399
Loans receivable, net	418,801		366,001
Investments in and advances to unconsolidated joint ventures	647,923		196,576
Accounts receivable, net of allowance of $4,073 and $1,529, respectively	34,687		27,494
Cash and cash equivalents	83,531		300,556
Restricted cash	54,448		37,229
Intangible assets, net	479,226		489,842
Real estate assets held for sale, net			9,819
Other assets, net	941,128		867,705
Total assets	20,744,890	[1]	20,075,870	[1]
LIABILITIES AND EQUITY
Bank line of credit	70,000
Term loan	222,118		226,858
Senior unsecured notes	7,625,041		6,963,375
Mortgage debt	1,199,633		1,396,485
Other debt	97,845		74,909
Intangible liabilities, net	88,490		98,810
Accounts payable and accrued liabilities	329,209		318,427
Deferred revenue	76,380		65,872
Total liabilities	9,708,716	[2]	9,144,736	[2]
Commitments and contingencies
Common stock, $1.00 par value: 750,000,000 shares authorized; 459,145,515 and 456,960,648 shares issued and outstanding, respectively	459,146		456,961
Additional paid-in capital	11,409,843		11,334,041
Cumulative dividends in excess of earnings	(1,078,400)		(1,053,215)
Accumulated other comprehensive loss	(17,464)		(14,487)
Total stockholders' equity	10,773,125		10,723,300
Joint venture partners	73,977		23,729
Non-managing member unitholders	189,072		184,105
Total noncontrolling interests	263,049		207,834
Total equity	11,036,174		10,931,134
Total liabilities and equity	$ 20,744,890		$ 20,075,870

[1] (1) The Company’s consolidated total assets at September 30, 2014 and December 31, 2013 include assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs. Total assets at September 30, 2014 includes VIE assets as follows: buildings and improvements $668 million; land $113 million; accumulated depreciation and amortization $105 million; accounts receivable $2 million; cash $52 million; and other assets $19 million. Total assets at December 31, 2013 includes other assets of $1 million from VIEs. See Note 17 to the Condensed Consolidated Financial Statements for additional information.

[2] (2) The Company’s consolidated total liabilities at September 30, 2014 and December 31, 2013 include certain liabilities of VIEs for which the VIE creditors do not have recourse to HCP, Inc. Total liabilities at September 30, 2014 includes accounts payable and accrued liabilities of $36 million and deferred revenue of $11 million from VIEs. Total liabilities at December 31, 2013 includes accounts payable and accrued liabilities of $9 million from VIEs. See Note 17 to the Condensed Consolidated Financial Statements for additional information.See accompanying Notes to the Condensed Consolidated Financial Statements.