Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Computation of Basic and Diluted Earnings per Share

The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator
Income (loss) from continuing operations	$	61,305	$	(27,762)	$	108,785	$	179,711
Noncontrolling interests' share in continuing operations	(7,195)		(3,616)		(14,036)		(10,565)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.	54,110		(31,378)		94,749		169,146
Less: Participating securities' share in continuing operations	(269)		(351)		(3,001)		(2,151)
Income (loss) from continuing operations applicable to common shares	53,841		(31,729)		91,748		166,995
Income (loss) from discontinued operations	601		(31,819)		384,569		98,297
Noncontrolling interests' share in discontinued operations	—		(220)		(2,539)		(274)
Net income (loss) applicable to common shares	$	54,442	$	(63,768)	$	473,778	$	265,018




Denominator
Basic weighted average shares outstanding	539,021		538,333		538,879		527,908
Dilutive potential common shares - equity awards(1)	367		—		280		279
Dilutive potential common shares - forward equity agreements(2)	—		—		—		268

Diluted weighted average common shares	539,388		538,333		539,159		528,455
Basic earnings (loss) per common share
Continuing operations	$	0.10	$	(0.06)	$	0.17	$	0.32
Discontinued operations	0.00		(0.06)		0.71		0.18
Net income (loss) applicable to common shares	$	0.10	$	(0.12)	$	0.88	$	0.50
Diluted earnings (loss) per common share
Continuing operations	$	0.10	$	(0.06)	$	0.17	$	0.32
Discontinued operations	0.00		(0.06)		0.71		0.18
Net income (loss) applicable to common shares	$	0.10	$	(0.12)	$	0.88	$	0.50

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(1)For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units and stock options).

(2)For the three and nine months ended September 30, 2021, all 9 million shares that have not been settled as of September 30, 2021 were anti-dilutive. For the nine months ended September 30, 2020, represents the dilutive impact of 32 million shares that were settled during the nine months then ended. For the three months ended September 30, 2020, forward sales agreements had no dilutive impact as all agreements were settled prior to the start of the period.