Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31,
	2020			2019
Numerator
Net income (loss)	$	282,540		$	64,990
Noncontrolling interests' share in earnings	(3,460		)	(3,520		)
Net income (loss) attributable to Healthpeak Properties, Inc.	279,080			61,470
Less: Participating securities' share in earnings	(1,616		)	(441		)
Net income (loss) applicable to common shares	$	277,464		$	61,029
Numerator - Dilutive
Net income (loss) applicable to common shares	$	277,464		$	61,029
Add: distributions on dilutive convertible units and other	2,515			—
Dilutive net income (loss) available to common shares	$	279,979		$	61,029
Denominator
Basic weighted average shares outstanding	506,476			477,766
Dilutive potential common shares - equity awards	318			272
Dilutive potential common shares - forward equity agreements(1)	808			1,093
Dilutive potential common shares - DownREIT conversions	7,443			—
Diluted weighted average common shares	515,045			479,131
Earnings per common share:
Basic	$	0.55		$	0.13
Diluted	$	0.54		$	0.13

_______________________________________

(1)

For the three months ended March 31, 2020, represents the dilutive impact of 32 million shares that were settled during the three months then ended. For the three months ended March 31, 2019, represents the dilutive impact of 19 million shares of common stock under forward sales agreements that had not been settled as of March 31, 2019.