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HCR ManorCare Acquisition (Tables) (HCR ManorCare) | 12 Months Ended
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Dec. 31, 2013
Acquisition |
Schedule of total purchase price consideration paid | The HCR ManorCare Acquisition total purchase price was as follows (in thousands):
Payment of aggregate cash consideration, net of cash acquired |  | $ | 3,801,624 |
HCP's loan investments in HCR ManorCare's debt settled at fair value(1) |  |  | 1,990,406 |
Assumed HCR ManorCare accrued liabilities at fair value(2) |  |  | 224,932 |
Total purchase consideration |  | $ | 6,016,962 |
Legal, accounting and other fees and costs(3) |  | $ | 26,839 |
(1) The Company recognized a gain of approximately $23 million, included in interest income, which represents the fair value of the Company's existing mezzanine and mortgage loan investments in HCR ManorCare in excess of its carrying value on the acquisition date. (2) In August 2011, the Company paid or refunded these amounts to certain taxing authorities or the seller. These August 2011 cash payments are included in the "cash used in the HCR ManorCare Acquisition, net of cash acquired" that is presented in the 2011 consolidated statement of cash flows under investing activities. (3) Represents estimated fees and costs of $16 million and $11 million that were expensed and included in general and administrative expense and interest expense, respectively. These charges are directly attributable to the transaction and represent non-recurring costs.
Summary of fair values of assets acquired and liabilities assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date of April 7, 2011 (in thousands):
Assets acquired |  |  |  |
Net investments in direct financing leases |  | $ | 6,002,074 |
Cash and cash equivalents |  |  | 6,996 |
Intangible assets |  |  | 14,888 |
Total assets acquired |  |  | 6,023,958 |
Total liabilities assumed |  |  | 224,932 |
Net assets acquired |  | $ | 5,799,026 |
Schedule of unaudited pro forma consolidated results of operations | The following unaudited pro forma consolidated results of operations for the year ended December 31, 2011 assume that the HCR ManorCare Acquisition, including the Company's ownership interest in the operations of HCR ManorCare, was completed as of January 1, 2010 (in thousands, except per share amounts):
Revenues |  | $ | 1,803,199 |
Net income |  |  | 673,036 |
Net income applicable to HCP, Inc. |  |  | 657,433 |
Basic earnings per common share |  | $ | 1.56 |
Diluted earnings per common share |  |  | 1.56 |
Previously reported |
Acquisition |
Schedule of unaudited pro forma consolidated results of operations | The amounts above were restated in 2013; the previous pro forma presentation assumed that HCR ManorCare Acquisition was completed as of January 1, 2011 (in thousands, except per share amounts); the previously reported amounts, adjusted for discontinued operations, as follows:
Revenues |  | $ | 1,789,677 |
Net income |  |  | 659,514 |
Net income applicable to HCP, Inc. |  |  | 643,911 |
Basic earnings per common share |  | $ | 1.53 |
Diluted earnings per common share |  |  | 1.52 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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