XML 46 R34.htm IDEA: XBRL DOCUMENT v3.19.2
Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Share
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,
 
2019
 
2018
 
2019
 
2018
Numerator
 
 
 
 
 
 
 
Net income (loss)
$
(9,980
)
 
$
92,928

 
$
55,010

 
$
136,165

Noncontrolling interests' share in earnings
(3,617
)
 
(2,986
)
 
(7,137
)
 
(5,991
)
Net income (loss) attributable to HCP, Inc.
(13,597
)
 
89,942

 
47,873

 
130,174

Less: Participating securities' share in earnings
(394
)
 
(461
)
 
(837
)
 
(852
)
Net income (loss) applicable to common shares
$
(13,991
)
 
$
89,481

 
$
47,036

 
$
129,322

Denominator
 

 
 

 
 
 
 
Basic weighted average shares outstanding
478,739

 
469,769

 
478,260

 
469,664

Dilutive potential common shares - equity awards
—

 
172

 
281

 
135

Dilutive potential common shares - forward equity agreements(1)
—

 
—

 
1,344

 
—

Diluted weighted average common shares
478,739

 
469,941

 
479,885

 
469,799

Basic earnings per common share
 
 
 
 
 
 
 
Basic
$
(0.03
)
 
$
0.19

 
$
0.10

 
$
0.28

Diluted
$
(0.03
)
 
$
0.19

 
$
0.10

 
$
0.28


_______________________________________
(1)
Represents the current dilutive impact of 22 million shares of common stock under forward sales agreements that have not been settled as of June 30, 2019. Based on the forward price of each agreement as of June 30, 2019, issuance of all 22 million shares would result in approximately $641 million of net proceeds.