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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Rental and related revenues $ 301,197 $ 317,840 $ 595,419 $ 634,592
Resident fees and services 177,766 136,774 304,461 279,588
Income from direct financing leases 10,190 13,490 23,714 26,756
Interest income 2,414 1,447 4,127 7,812
Total revenues 491,567 469,551 927,721 948,748
Costs and expenses:        
Interest expense 56,942 73,038 106,269 148,140
Depreciation and amortization 165,296 143,292 297,247 286,542
Operating 213,993 173,866 382,920 346,418
General and administrative 27,120 22,514 48,475 51,689
Transaction costs 1,337 2,404 5,855 4,599
Impairments (recoveries), net 68,538 13,912 77,396 13,912
Total costs and expenses 533,226 429,026 918,162 851,300
Other income (expense):        
Gain (loss) on sales of real estate, net 11,448 46,064 19,492 66,879
Loss on debt extinguishments (1,135) 0 (1,135) 0
Other income (expense), net 21,008 1,786 24,141 (38,621)
Total other income (expense), net 31,321 47,850 42,498 28,258
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures (10,338) 88,375 52,057 125,706
Income tax benefit (expense) 1,864 4,654 5,322 9,990
Equity income (loss) from unconsolidated joint ventures (1,506) (101) (2,369) 469
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
Participating securities' share in earnings (394) (461) (837) (852)
Net income (loss) applicable to common shares $ (13,991) $ 89,481 $ 47,036 $ 129,322
Earnings per common share:        
Basic (in dollars per share) $ (0.03) $ 0.19 $ 0.10 $ 0.28
Diluted (in dollars per share) $ (0.03) $ 0.19 $ 0.10 $ 0.28
Weighted average shares outstanding:        
Basic (in shares) 478,739 469,769 478,260 469,664
Diluted (in shares) 478,739 469,941 479,885 469,799