Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2014

The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Numerator
Income from continuing operations	$	222,279		$	213,897		$	456,156		$	445,450
Noncontrolling interests’ share in continuing operations	(3,394		)	(3,245		)	(6,729		)	(6,379		)
Income from continuing operations applicable to HCP, Inc.	218,885			210,652			449,427			439,071
Participating securities’ share in continuing operations	(489		)	(378		)	(1,552		)	(856		)
Income from continuing operations applicable to common shares	218,396			210,274			447,875			438,215
Discontinued operations	—			2,828			29,746			5,059
Noncontrolling interests’ share in discontinued operations	—			(79		)	(1,177		)	(144		)
Net income applicable to common shares	$	218,396		$	213,023		$	476,444		$	443,130

Denominator
Basic weighted average common shares	458,247			454,618			457,773			454,137
Dilutive potential common shares	341			813			361			887
Diluted weighted average common shares	458,588			455,431			458,134			455,024

Basic earnings per common share
Income from continuing operations	$	0.48		$	0.46		$	0.98		$	0.96
Discontinued operations	—			0.01			0.06			0.02
Net income applicable to common shares	$	0.48		$	0.47		$	1.04		$	0.98

Diluted earnings per common share
Income from continuing operations	$	0.48		$	0.46		$	0.98		$	0.96
Discontinued operations	—			0.01			0.06			0.01
Net income applicable to common shares	$	0.48		$	0.47		$	1.04		$	0.97