Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Common Share

Computation of basic and diluted earnings per share (in thousands, except per share amounts)

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

	Year Ended December 31,
	2015		2014		2013
Numerator
(Loss) income from continuing operations	$	(546,418)	$	906,845	$	910,633
Noncontrolling interests’ share in continuing operations		(12,817)		(13,181)		(14,110)
(Loss) income from continuing operations applicable to HCP, Inc.		(559,235)		893,664		896,523
Participating securities’ share in continuing operations		(1,317)		(2,437)		(1,734)
(Loss) income from continuing operations applicable to common shares		(560,552)		891,227		894,789
Discontinued operations		—		29,746		74,373
Noncontrolling interests’ share in discontinued operations		—		(1,177)		(59)
Net (loss) income applicable to common shares	$	(560,552)	$	919,796	$	969,103
Denominator
Basic weighted average common shares		462,795		458,425		455,002
Dilutive potential common shares		—		371		700
Diluted weighted average common shares		462,795		458,796		455,702
Basic earnings per common share
(Loss) income from continuing operations	$	(1.21)	$	1.94	$	1.97
Discontinued operations		—		0.07		0.16
Net (loss) income applicable to common stockholders	$	(1.21)	$	2.01	$	2.13
Diluted earnings per common share
(Loss) income from continuing operations	$	(1.21)	$	1.94	$	1.97
Discontinued operations		—		0.06		0.16
Net (loss) income applicable to common shares	$	(1.21)	$	2.00	$	2.13