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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Income from direct financing leases $ 13,573 $ 13,240 $ 40,329 $ 40,516
Interest income 1,236 11,774 9,048 50,974
Total revenues 456,022 454,023 1,404,770 1,405,119
Costs and expenses:        
Interest expense 63,486 71,328 211,626 235,834
Depreciation and amortization 132,198 130,588 418,740 397,893
Operating 181,207 155,338 527,625 467,582
General and administrative 23,503 23,523 75,192 67,287
Transaction costs 4,489 580 9,088 2,504
Impairments (recoveries), net 5,268 25,328 19,180 82,010
Total costs and expenses 410,151 406,685 1,261,451 1,253,110
Other income (expense):        
Gain (loss) on sales of real estate, net 95,332 5,182 162,211 322,852
Loss on debt extinguishments (43,899) (54,227) (43,899) (54,227)
Other income (expense), net 1,604 (10,556) (37,017) 40,723
Total other income (expense), net 53,037 (59,601) 81,295 309,348
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 98,908 (12,263) 224,614 461,357
Income tax benefit (expense) 4,929 5,481 14,919 14,630
Equity income (loss) from unconsolidated joint ventures (911) 1,062 (442) 4,571
Net income (loss) 102,926 (5,720) 239,091 480,558
Noncontrolling interests' share in earnings (3,555) (1,937) (9,546) (7,687)
Net income (loss) attributable to HCP, Inc. 99,371 (7,657) 229,545 472,871
Participating securities' share in earnings (425) (131) (1,278) (560)
Net income (loss) applicable to common shares $ 98,946 $ (7,788) $ 228,267 $ 472,311
Earnings per common share:        
Earnings per common share, basic (in dollars per share) $ 0.21 $ (0.02) $ 0.49 $ 1.01
Earnings per common share, diluted (in dollars per share) $ 0.21 $ (0.02) $ 0.49 $ 1.01
Weighted average shares outstanding:        
Basic (in shares) 469,867 468,975 469,732 468,642
Diluted (in shares) 470,118 468,975 469,876 468,828
Dividends declared per common share (in dollars per share) $ 0.37 $ 0.37 $ 1.11 $ 1.11
Rental and related revenues        
Revenues:        
Rental and related revenues $ 262,828 $ 266,109 $ 821,462 $ 816,147
Tenant recoveries        
Revenues:        
Rental and related revenues 41,026 36,860 116,984 105,794
Resident fees and services        
Revenues:        
Rental and related revenues $ 137,359 $ 126,040 $ 416,947 $ 391,688