CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) In Thousands, except Per Share data	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues:
Rental and related revenues	$ 254,251	$ 227,679	$ 768,647	$ 682,316
Tenant recoveries	23,880	23,326	69,765	67,156
Resident fees and services	11,974	15,277	15,314	15,277
Income from direct financing leases	153,496	13,028	310,553	37,238
Interest income	577	36,582	99,199	108,004
Investment management fee income	494	1,157	1,605	3,755
Total revenues	444,672	317,049	1,265,083	913,746
Costs and expenses:
Depreciation and amortization	88,556	78,313	270,028	233,948
Interest expense	104,198	71,598	317,903	220,295
Operating	57,672	60,426	151,139	151,929
General and administrative	19,648	19,590	76,472	65,039
Impairments (recoveries)	15,400		15,400	(11,900)
Total costs and expenses	285,474	229,927	830,942	659,311
Other income (expense), net	(772)	6,657	17,058	7,151
Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures	158,426	93,779	451,199	261,586
Income taxes	(5)	(867)	(290)	(1,809)
Equity income from unconsolidated joint ventures	17,050	209	32,798	4,078
Impairments of investments in unconsolidated joint ventures		(71,693)		(71,693)
Income from continuing operations	175,471	21,428	483,707	192,162
Discontinued operations:
Income before gain on sales of real estate, net of income taxes		758		2,655
Gain on sales of real estate, net of income taxes		3,987		4,052
Total discontinued operations		4,745		6,707
Net income	175,471	26,173	483,707	198,869
Noncontrolling interests' share in earnings	(3,276)	(3,518)	(12,660)	(10,077)
Net income attributable to HCP, Inc.	172,195	22,655	471,047	188,792
Preferred stock dividends	(5,282)	(5,282)	(15,848)	(15,848)
Participating securities' share in earnings	(546)	(378)	(1,893)	(1,648)
Net income applicable to common shares	$ 166,367	$ 16,995	$ 453,306	$ 171,296
Basic earnings per common share:
Continuing operations (in dollars per share)	$ 0.41	$ 0.04	$ 1.15	$ 0.55
Discontinued operations (in dollars per share)		$ 0.01		$ 0.02
Net income applicable to common shares (in dollars per share)	$ 0.41	$ 0.05	$ 1.15	$ 0.57
Diluted earnings per common share:
Continuing operations (in dollars per share)	$ 0.41	$ 0.04	$ 1.14	$ 0.55
Discontinued operations (in dollars per share)		$ 0.01		$ 0.02
Net income applicable to common shares (in dollars per share)	$ 0.41	$ 0.05	$ 1.14	$ 0.57
Weighted-average shares used to calculate earnings per common share:
Basic (in shares)	407,081	309,448	395,258	299,243
Diluted (in shares)	408,646	311,092	397,013	300,468
Dividends declared per common share (in dollars per share)	$ 0.48	$ 0.465	$ 1.44	$ 1.395