Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2016

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 (in thousands, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Numerator - Basic
Net income (loss)	$	304,842	$	167,748	$	424,587	$	(69,755)
Noncontrolling interests’ share in earnings		(3,125)		(2,863)		(6,751)		(5,974)
Net income (loss) attributable to HCP, Inc.		301,717		164,885		417,836		(75,729)
Participating securities’ share in earnings		(342)		(370)		(651)		(704)
Net income (loss) applicable to common shares	$	301,375	$	164,515	$	417,185	$	(76,433)
Numerator - Dilutive
Net income (loss) applicable to common shares	$	301,375	$	164,515	$	417,185	$	(76,433)
Add: distributions on dilutive convertible units		2,388		—		—		—
Dilutive net income (loss) available to common shares	$	303,763	$	164,515	$	417,185	$	(76,433)
Denominator
Basic weighted average common shares		467,084		461,874		466,579		461,380
Dilutive potential common shares - equity awards		208		232		198		—
Dilutive potential common shares - DownREIT units		4,133		—		—		—
Diluted weighted average common shares		471,425		462,106		466,777		461,380
Earnings per common share
Basic	$	0.65	$	0.36	$	0.89	$	(0.17)
Diluted	$	0.64		0.36	$	0.89	$	(0.17)