Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2015

Earnings Per Common Share

Computation of basic and diluted earnings per share (in thousands, except per share amounts)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Numerator
Income from continuing operations	$	117,954	$	251,059	$	48,199	$	707,215
Noncontrolling interests’ share in continuing operations		(2,592)		(3,405)		(8,566)		(10,134)
Income from continuing operations applicable to HCP		115,362		247,654		39,633		697,081
Participating securities’ share in continuing operations		(316)		(446)		(1,020)		(1,999)
Income from continuing operations applicable to common shares		115,046		247,208		38,613		695,082
Discontinued operations		—		—		—		29,746
Noncontrolling interests’ share in discontinued operations		—		—		—		(1,177)
Net income applicable to common shares	$	115,046	$	247,208	$	38,613	$	723,651
Denominator
Basic weighted average common shares		463,337		458,799		462,039		458,119
Dilutive potential common shares		249		342		263		354
Diluted weighted average common shares		463,586		459,141		462,302		458,473
Basic earnings per common share
Income from continuing operations	$	0.25	$	0.54	$	0.08	$	1.52
Discontinued operations		—		—		—		0.06
Net income applicable to common shares	$	0.25	$	0.54	$	0.08	$	1.58
Diluted earnings per common share
Income from continuing operations	$	0.25	$	0.54	$	0.08	$	1.52
Discontinued operations		—		—		—		0.06
Net income applicable to common shares	$	0.25	$	0.54	$	0.08	$	1.58