Real Estate Property Investments (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of unaudited pro forma consolidated results of operations (in thousands, except per share amounts)



	Three Months Ended		Nine Months Ended September 30,
	September 30, 2014		2015		2014
Revenues	$	644,856	$	1,963,402	$	1,807,405
Net income		255,107		56,009		749,106
Net income applicable to HCP, Inc.		251,297		46,662		736,580
Basic earnings per common share		0.55		0.10		1.60
Diluted earnings per common share		0.55		0.10		1.60

Schedule of other real estate acquisitions (in thousands)

In addition to the RIDEA III acquisition discussed above, a summary of other real estate acquisitions for the nine months ended September 30, 2015 follows (in thousands):


	Consideration							Assets Acquired(1)
	Cash Paid/			Liabilities		Noncontrolling				Net
Segment	Debt Settled			Assumed		Interest		Real Estate		Intangibles
Senior housing	$	221,023	(2)	$	8,227	$	3,885	$	209,084	$	24,051
Post-acute/skilled nursing		178,707	(2)		—		—		151,663		27,044
Medical office		377,351	(3)		12,849		—		349,649		40,551
	$	777,081		$	21,076	$	3,885	$	710,396	$	91,646

(1)

Amounts include preliminary purchase price allocations which may be subject to change.

(2)

Includes £174 million ($254 million) of the Company’s HC-One Facility (see Note 7) converted to fee ownership in a portfolio of 36 care homes located throughout the United Kingdom (“U.K.”).

(3)

Includes $110 million issued on October 7, 2015 as a 49% noncontrolling interest in HCP Ventures V (see Note 13).

A summary of real estate acquisitions for the nine months ended September 30, 2014 follows (in thousands):


	Consideration								Assets Acquired
				Liabilities		Noncontrolling					Net
Segment	Cash Paid			Assumed		Interest			Real Estate		Intangibles
Senior housing	$	215,381	(1)	$	1,021	$	6,321	(2)	$	205,778	$	16,945
Life science		43,500			250		—			41,281		2,469
Medical office		208,266			463		—			186,799		21,930
	$	467,147		$	1,734	$	6,321		$	433,858	$	41,344

(1)

Includes £76 million translated into U.S. dollars.

(2)

Includes $5 million of non-managing member limited liability company units.

Schedule of capital improvements (in thousands)


	Nine Months Ended September 30,
Segment	2015		2014
Senior housing	$	76,640	$	23,876
Post-acute/skilled nursing		3,369		2,533
Life science		80,871		91,178
Medical office		93,012		43,773
Hospital		37		1,357
	$	253,929	$	162,717