CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Real estate:
Buildings and improvements		$ 12,280,851	$ 10,972,973
Development costs and construction in progress		307,622	275,233
Land		2,042,016	1,889,438
Accumulated depreciation and amortization		(2,403,205)	(2,250,757)
Net real estate		12,227,284	10,886,887
Net investment in direct financing leases		6,863,327	7,280,334
Loans receivable, net		862,621	906,961
Investments in and advances to unconsolidated joint ventures		641,487	605,448
Accounts receivable, net of allowance of $3,607 and $3,785, respectively		45,824	36,339
Cash and cash equivalents		115,770	183,810
Restricted cash		54,369	48,976
Intangible assets, net		577,238	481,013
Other assets, net		960,207	940,172
Total assets	[1]	22,348,127	21,369,940
LIABILITIES AND EQUITY
Bank line of credit		1,022,324	838,516
Term loan		561,525	213,610
Senior unsecured notes		8,567,293	7,626,194
Mortgage debt		967,072	984,431
Other debt		95,144	97,022
Intangible liabilities, net		77,550	84,723
Accounts payable and accrued liabilities		433,636	432,934
Deferred revenue		96,586	95,411
Total liabilities	[2]	$ 11,821,130	$ 10,372,841
Commitments and contingencies
Common stock, $1.00 par value: 750,000,000 shares authorized; 462,486,416 and 459,746,267 shares issued and outstanding, respectively		$ 462,486	$ 459,746
Additional paid-in capital		11,532,584	11,431,987
Cumulative dividends in excess of earnings		(1,730,168)	(1,132,541)
Accumulated other comprehensive loss		(32,115)	(23,895)
Total stockholders' equity		10,232,787	10,735,297
Joint venture partners		107,867	73,214
Non-managing member unitholders		186,343	188,588
Total noncontrolling interests		294,210	261,802
Total equity		10,526,997	10,997,099
Total liabilities and equity		$ 22,348,127	$ 21,369,940

[1] The Company’s consolidated total assets at June 30, 2015 and December 31, 2014 include assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs. Total assets at June 30, 2015 include VIE assets as follows: buildings and improvements $751 million; land $125 million; accumulated depreciation and amortization $121 million; accounts receivable $16 million; cash $57 million; and other assets, net $24 million. Total assets at December 31, 2014 include VIE assets as follows: buildings and improvements $677 million; land $113 million; accumulated depreciation and amortization $111 million; accounts receivable $5 million; cash $42 million; and other assets, net of $23 million from VIEs. See Note 18 to the Consolidated Financial Statements for additional information.

[2] The Company’s consolidated total liabilities at June 30, 2015 and December 31, 2014 include certain liabilities of VIEs for which the VIE creditors do not have recourse to HCP, Inc. Total liabilities at June 30, 2015 include accounts payable and accrued liabilities of $52 million and deferred revenue of $12 million from VIEs. Total liabilities at December 31, 2014 include accounts payable and accrued liabilities of $34 million and deferred revenue of $12 million from VIEs. See Note 18 to the Consolidated Financial Statements for additional information.