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Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Common Share

Computation of basic and diluted earnings per share


		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
Numerator
Income from continuing operations		$	251,059		$	227,033		$	707,215		$	672,483
Noncontrolling interests’ share in continuing operations			(3,405)			(3,055)			(10,134)			(9,442)
Income from continuing operations applicable to HCP, Inc.			247,654			223,978			697,081			663,041
Participating securities’ share in continuing operations			(446)			(474)			(1,999)			(1,330)
Income from continuing operations applicable to common shares			247,208			223,504			695,082			661,711
Discontinued operations			—			9,825			29,746			14,884
Noncontrolling interests’ share in discontinued operations			—			(47)			(1,177)			(183)
Net income applicable to common shares		$	247,208		$	233,282		$	723,651		$	676,412

Denominator
Basic weighted average common shares			458,799			455,345			458,119			454,553
Dilutive potential common shares			342			733			354			835
Diluted weighted average common shares			459,141			456,078			458,473			455,388

Basic earnings per common share
Income from continuing operations		$	0.54		$	0.49		$	1.52		$	1.46
Discontinued operations			—			0.02			0.06			0.03
Net income applicable to common shares		$	0.54		$	0.51		$	1.58		$	1.49

Diluted earnings per common share
Income from continuing operations		$	0.54		$	0.49		$	1.52		$	1.46
Discontinued operations			—			0.02			0.06			0.03
Net income applicable to common shares		$	0.54		$	0.51		$	1.58		$	1.49