Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of 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):


	Year Ended December 31,
	2021		2020		2019
Numerator
Income (loss) from continuing operations	$	137,728	$	160,507	$	175,469
Noncontrolling interests' share in continuing operations	(17,851)		(14,394)		(14,558)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.	119,877		146,113		160,911
Less: Participating securities' share in continuing operations	(3,269)		(2,416)		(1,543)
Income (loss) from continuing operations applicable to common shares	116,608		143,697		159,368
Income (loss) from discontinued operations	388,202		267,746		(115,408)
Noncontrolling interests' share in discontinued operations	(2,539)		(296)		27
Net income (loss) applicable to common shares	$	502,271	$	411,147	$	43,987




Denominator
Basic weighted average shares outstanding	538,930		530,555		486,255
Dilutive potential common shares - equity awards(1)	310		300		309
Dilutive potential common shares - forward equity agreements(2)	1		201		2,771

Diluted weighted average common shares	539,241		531,056		489,335
Basic earnings (loss) per common share
Continuing operations	$	0.22	$	0.27	$	0.33
Discontinued operations	0.71		0.50		(0.24)
Net income (loss) applicable to common shares	$	0.93	$	0.77	$	0.09
Diluted earnings (loss) per common share:
Continuing operations	$	0.22	$	0.27	$	0.33
Discontinued operations	0.71		0.50		(0.24)
Net income (loss) applicable to common shares	$	0.93	$	0.77	$	0.09

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(1)For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units and stock options).

(2)For the year ended December 31, 2021, represents the dilutive impact of 9 million shares that have not been settled as of December 31, 2021. For the year ended December 31, 2020, represents the dilutive impact of 32 million shares that were settled during the year then ended. For the year ended December 31, 2019, represents the dilutive impact of 21 million shares that were settled during the year then ended and 30 million shares of common stock under forward sales agreements that had not been settled as of December 31, 2019.