Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2017

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