Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2013

Earnings Per Common Share

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 March 31,
	2013			2012
Numerator
Income from continuing operations	$	233,784		$	194,193
Noncontrolling interests’ share in continuing operations	(3,199		)	(3,184		)
Income from continuing operations applicable to HCP, Inc.	230,585			191,009
Preferred stock dividends	—			(17,006		)
Participating securities’ share in continuing operations	(478		)	(1,117		)
Income from continuing operations applicable to common shares	230,107			172,886
Discontinued operations	—			2,371
Net income applicable to common shares	$	230,107		$	175,257
Denominator
Basic weighted average common shares	453,651			410,018
Dilutive potential common shares	962			1,643
Diluted weighted average common shares	454,613			411,661
Basic earnings per common share
Income from continuing operations	$	0.51		$	0.42
Discontinued operations	—			0.01
Net income applicable to common shares	$	0.51		$	0.43
Diluted earnings per common share
Income from continuing operations	$	0.51		$	0.42
Discontinued operations	—			0.01
Net income applicable to common shares	$	0.51		$	0.43