Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator
Income (loss) from continuing operations	$	359,284	$	61,305	$	503,611	$	108,785
Noncontrolling interests' share in continuing operations	(4,016)		(7,195)		(11,701)		(14,036)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.	355,268		54,110		491,910		94,749
Less: Participating securities' share in continuing operations	(604)		(269)		(2,523)		(3,001)
Income (loss) from continuing operations applicable to common shares	354,664		53,841		489,387		91,748
Income (loss) from discontinued operations	(1,298)		601		2,011		384,569
Noncontrolling interests' share in discontinued operations	—		—		—		(2,539)
Net income (loss) applicable to common shares	$	353,366	$	54,442	$	491,398	$	473,778
Numerator - Dilutive
Net income (loss) applicable to common shares	$	353,366	$	54,442	$	491,398	$	473,778
Add: distributions on dilutive convertible units and other	2,355		—		4,943		—
Dilutive net income (loss) available to common shares	$	355,721	$	54,442	$	496,341	$	473,778
Denominator
Basic weighted average shares outstanding	538,417		539,021		539,105		538,879
Dilutive potential common shares - equity awards(1)	281		367		255		280

Dilutive potential common shares - DownREIT conversions	7,317		—		5,492		—
Diluted weighted average common shares	546,015		539,388		544,852		539,159
Basic earnings (loss) per common share
Continuing operations	$	0.66	$	0.10	$	0.91	$	0.17
Discontinued operations	0.00		0.00		0.00		0.71
Net income (loss) applicable to common shares	$	0.66	$	0.10	$	0.91	$	0.88
Diluted earnings (loss) per common share
Continuing operations	$	0.65	$	0.10	$	0.91	$	0.17
Discontinued operations	0.00		0.00		0.00		0.71
Net income (loss) applicable to common shares	$	0.65	$	0.10	$	0.91	$	0.88

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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).