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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Rental and related revenues $ 353,516 $ 301,941 $ 1,022,130 $ 872,511
Resident fees and services 119,022 115,031 352,458 320,737
Income from direct financing leases 2,179 2,150 6,522 7,569
Interest income 6,748 4,443 31,869 12,361
Total revenues 481,465 423,565 1,412,979 1,213,178
Costs and expenses:        
Interest expense 35,905 53,734 121,429 164,248
Depreciation and amortization 177,175 141,971 506,172 406,774
Operating 202,139 183,141 574,032 598,326
General and administrative 23,270 21,661 72,260 67,730
Transaction costs 0 1,984 1,417 16,920
Impairments and loan loss reserves (recoveries), net 285 (1,777) 4,458 16,167
Total costs and expenses 438,774 400,714 1,279,768 1,270,165
Other income (expense):        
Gain (loss) on sales of real estate, net 14,635 2,283 189,873 85,636
Gain (loss) on debt extinguishments (667) (17,921) (225,824) (42,912)
Other income (expense), net 1,670 6,744 5,604 234,812
Total other income (expense), net 15,638 (8,894) (30,347) 277,536
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures 58,329 13,957 102,864 220,549
Income tax benefit (expense) 649 (22,970) 1,404 6,792
Equity income (loss) from unconsolidated joint ventures 2,327 (18,749) 4,517 (47,630)
Income (loss) from continuing operations 61,305 (27,762) 108,785 179,711
Income (loss) from discontinued operations 601 (31,819) 384,569 98,297
Net income (loss) 61,906 (59,581) 493,354 278,008
Noncontrolling interests’ share in continuing operations (7,195) (3,616) (14,036) (10,565)
Noncontrolling interests’ share in discontinued operations 0 (220) (2,539) (274)
Net income (loss) attributable to Healthpeak Properties, Inc. 54,711 (63,417) 476,779 267,169
Participating securities’ share in earnings (269) (351) (3,001) (2,151)
Net income (loss) applicable to common shares $ 54,442 $ (63,768) $ 473,778 $ 265,018
Basic earnings (loss) per common share:        
Continuing operations (in dollars per share) $ 0.10 $ (0.06) $ 0.17 $ 0.32
Discontinued operations (in dollars per share) 0.00 (0.06) 0.71 0.18
Net income (loss) applicable to common shares (in dollars per share) 0.10 (0.12) 0.88 0.50
Diluted earnings (loss) per common share:        
Continuing operations (in dollars per share) 0.10 (0.06) 0.17 0.32
Discontinued operations (in dollars per share) 0.00 (0.06) 0.71 0.18
Net income (loss) applicable to common shares (in dollars per share) $ 0.10 $ (0.12) $ 0.88 $ 0.50
Weighted average shares outstanding:        
Basic (in shares) 539,021 538,333 538,879 527,908
Diluted (in shares) 539,388 538,333 539,159 528,455