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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share
Restricted stock and certain performance restricted stock units are considered participating securities, because dividend payments are not forfeited even if the underlying award does not vest, and require use of the two-class method when computing basic and diluted earnings per share.
Options to purchase 1 million shares of common stock were excluded from the computation of diluted earnings per share for both the three and six months ended June 30, 2017 and 2016 because they are anti-dilutive.
Additionally, 7 million and 2 million shares, issuable upon conversion of 4 million and 2 million DownREIT units during the three months ended June 30, 2017 and June 30, 2016, were not included because they are anti-dilutive. For the six months ended June 30, 2017 and June 30, 2016, 2 million and 6 million shares, issuable upon conversion of 1 million and 4 million DownREIT units, were not included because they are anti-dilutive.
The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Numerator
 
 
 
 
 
 
 
Net income from continuing operations
$
22,101

 
$
197,467

 
$
486,278

 
$
248,804

Noncontrolling interests' share in earnings
(2,718
)
 
(3,125
)
 
(5,750
)
 
(6,751
)
Net income attributable to HCP, Inc.
19,383

 
194,342

 
480,528

 
242,053

Less: Participating securities' share in earnings
(100
)
 
(342
)
 
(674
)
 
(651
)
Income from continuing operations applicable to common shares
19,283

 
194,000

 
479,854

 
241,402

Discontinued operations
—

 
107,375

 
—

 
175,783

Net income applicable to common shares
$
19,283

 
$
301,375

 
$
479,854

 
$
417,185


 
 
 
 
 
 
 
Numerator - Dilutive
 

 
 

 
 
 
 
Net income applicable to common shares
$
19,283

 
$
301,375

 
$
479,854

 
$
417,185

Add: distributions on dilutive convertible units and other
—

 
2,388

 
3,655

 
—

Dilutive net income available to common shares
$
19,283

 
$
303,763

 
$
483,509

 
$
417,185

Denominator
 

 
 

 
 
 
 
Basic weighted average shares outstanding
468,646

 
467,084

 
468,474

 
466,579

Dilutive potential common shares - equity awards
193

 
208

 
195

 
198

Dilutive potential common shares - DownREIT conversions
—

 
4,133

 
4,697

 
—

Diluted weighted average common shares
468,839

 
471,425

 
473,366

 
466,777

Basic earnings per common share
 
 
 
 
 
 
 
Continuing operations
$
0.04

 
$
0.42

 
$
1.02

 
$
0.52

Discontinued operations
—

 
0.23

 
—

 
0.37

Net income applicable to common shares
$
0.04

 
$
0.65

 
$
1.02

 
$
0.89

Diluted earnings per common share
 

 
 

 
 
 
 
Continuing operations
$
0.04

 
$
0.42

 
$
1.02

 
$
0.52

Discontinued operations
—

 
0.22

 
—

 
0.37

Net income applicable to common shares
$
0.04

 
$
0.64

 
$
1.02

 
$
0.89