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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Income from direct financing leases $ 54,274,000 $ 54,217,000 $ 59,580,000
Interest income 10,406,000 56,237,000 88,808,000
Revenues 1,846,689,000 1,848,378,000 2,129,294,000
Costs and expenses:      
Interest expense 266,343,000 307,716,000 464,403,000
Depreciation and amortization 549,499,000 534,726,000 568,108,000
Operating 705,038,000 666,251,000 738,399,000
General and administrative 96,702,000 88,772,000 103,611,000
Transaction costs 10,772,000 7,963,000 9,821,000
Impairments (recoveries), net 55,260,000 166,384,000 0
Total costs and expenses 1,683,614,000 1,771,812,000 1,884,342,000
Other income (expense):      
Gain (loss) on sales of real estate, net 925,985,000 356,641,000 164,698,000
Loss on debt extinguishments (44,162,000) (54,227,000) (46,020,000)
Other income (expense), net 13,316,000 31,420,000 3,654,000
Total other income (expense), net 895,139,000 333,834,000 122,332,000
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 1,058,214,000 410,400,000 367,284,000
Income tax benefit (expense) 17,854,000 1,333,000 (4,473,000)
Equity income (loss) from unconsolidated joint ventures (2,594,000) 10,901,000 11,360,000
Income (loss) from continuing operations 1,073,474,000 422,634,000 374,171,000
Discontinued operations:      
Income before transaction costs and income taxes 0 0 400,701,000
Transaction costs 0 0 (86,765,000)
Income tax benefit (expense) 0 0 (48,181,000)
Total discontinued operations 0 0 265,755,000
Net income (loss) 1,073,474,000 422,634,000 639,926,000
Noncontrolling interests' share in earnings (12,381,000) (8,465,000) (12,179,000)
Net income (loss) attributable to HCP, Inc. 1,061,093,000 414,169,000 627,747,000
Participating securities' share in earnings (2,669,000) (1,156,000) (1,198,000)
Net income (loss) applicable to common shares $ 1,058,424,000 $ 413,013,000 $ 626,549,000
Basic earnings per common share:      
Continuing operations (in dollars per share) $ 2.25 $ 0.88 $ 0.77
Discontinued operations (in dollars per share) 0.00 0.00 0.57
Net income (loss) applicable to common shares (in dollars per share) 2.25 0.88 1.34
Diluted earnings per common share:      
Continuing operations (in dollars per share) 2.24 0.88 0.77
Discontinued operations (in dollars per share) 0.00 0.00 0.57
Net income (loss) applicable to common shares (in dollars per share) $ 2.24 $ 0.88 $ 1.34
Weighted average shares outstanding:      
Basic (in shares) 470,551 468,759 467,195
Diluted (in shares) 475,387 468,935 467,403
Rental and related revenues      
Revenues:      
Rental and related revenues and resident fees and services $ 1,237,236,000 $ 1,213,649,000 $ 1,294,071,000
Resident fees      
Revenues:      
Rental and related revenues and resident fees and services $ 544,773,000 $ 524,275,000 $ 686,835,000