Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		2023		2022
Numerator - Basic
Income (loss) from continuing operations	$	68,656	$	359,284	$	259,362	$	503,611
Noncontrolling interests’ share in continuing operations	(4,442)		(4,016)		(24,297)		(11,701)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.	64,214		355,268		235,065		491,910
Less: Participating securities’ share in continuing operations	(166)		(604)		(1,568)		(2,523)
Income (loss) from continuing operations applicable to common shares	64,048		354,664		233,497		489,387
Income (loss) from discontinued operations	—		(1,298)		—		2,011

Net income (loss) applicable to common shares	$	64,048	$	353,366	$	233,497	$	491,398
Numerator - Dilutive
Net income (loss) applicable to common shares	$	64,048	$	353,366	$	233,497	$	491,398
Add: distributions on dilutive convertible units and other	—		2,355		—		4,943
Dilutive net income (loss) available to common shares	$	64,048	$	355,721	$	233,497	$	496,341
Denominator
Basic weighted average shares outstanding	547,062		538,417		546,978		539,105
Dilutive potential common shares - equity awards(1)	269		281		269		255

Dilutive potential common shares - DownREIT conversions	—		7,317		—		5,492
Diluted weighted average common shares	547,331		546,015		547,247		544,852
Basic earnings (loss) per common share
Continuing operations	$	0.12	$	0.66	$	0.43	$	0.91
Discontinued operations	—		0.00		—		0.00
Net income (loss) applicable to common shares	$	0.12	$	0.66	$	0.43	$	0.91
Diluted earnings (loss) per common share
Continuing operations	$	0.12	$	0.65	$	0.43	$	0.91
Discontinued operations	—		0.00		—		0.00
Net income (loss) applicable to common shares	$	0.12	$	0.65	$	0.43	$	0.91

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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).