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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2014
Selected Quarterly Financial Data (Unaudited) |
Selected Quarterly Financial Data (Unaudited) | NOTE 26. Selected Quarterly Financial Data (Unaudited) Selected quarterly information for the years ended December 31, 2014 and 2013 is as follows (in thousands, except per share amounts). Results of operations for properties sold or to be sold have been classified as discontinued operations for all periods presented:
|  | Three Months Ended During 2014 |
|  | March 31 |  | June 30 |  | September 30 |  | December 31 |
Total revenues |  | $ | 529,992 |  | $ | 536,121 |  | $ | 596,638 |  | $ | 603,528 |
Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures |  |  | 220,795 |  |  | 208,926 |  |  | 240,946 |  |  | 222,771 |
Total discontinued operations |  |  | 29,746 |  |  | — |  |  | — |  |  | — |
Net income |  |  | 263,623 |  |  | 222,279 |  |  | 251,059 |  |  | 199,630 |
Net income applicable to HCP, Inc. |  |  | 259,111 |  |  | 218,885 |  |  | 247,654 |  |  | 196,583 |
Dividends paid per common share |  |  | 0.545 |  |  | 0.545 |  |  | 0.545 |  |  | 0.545 |
Basic earnings per common share |  |  | 0.56 |  |  | 0.48 |  |  | 0.54 |  |  | 0.43 |
Diluted earnings per common share |  |  | 0.56 |  |  | 0.48 |  |  | 0.54 |  |  | 0.43 |
|  | Three Months Ended During 2013 |
|  | March 31 |  | June 30 |  | September 30 |  | December 31 |
Total revenues |  | $ | 511,184 |  | $ | 512,239 |  | $ | 546,158 |  | $ | 530,297 |
Income before income taxes and equity income from and impairments of investments in unconsolidated joint ventures |  |  | 217,667 |  |  | 199,916 |  |  | 214,176 |  |  | 220,256 |
Total discontinued operations |  |  | 2,232 |  |  | 2,828 |  |  | 9,824 |  |  | 59,489 |
Net income |  |  | 233,784 |  |  | 216,725 |  |  | 236,858 |  |  | 297,639 |
Net income applicable to HCP, Inc. |  |  | 230,585 |  |  | 213,401 |  |  | 233,756 |  |  | 293,095 |
Dividends paid per common share |  |  | 0.525 |  |  | 0.525 |  |  | 0.525 |  |  | 0.525 |
Basic earnings per common share |  |  | 0.51 |  |  | 0.47 |  |  | 0.51 |  |  | 0.64 |
Diluted earnings per common share |  |  | 0.51 |  |  | 0.47 |  |  | 0.51 |  |  | 0.64 |
The above selected quarterly financial data includes the following significant transactions:
| · |  | During the three months ended December 31, 2014, the Company concluded that its 9.4% equity ownership interest in HCRMC was impaired and recorded an impairment charge of $36 million.
| · |  | On August 29, 2014, the Company completed the Brookdale Transaction. As a result, the Company recognized a $38 million net termination fee in rental and related revenues, which represents the termination value for the 49 leases related to the RIDEA Subsidiaries, net of the write-off of the related straight-line rent assets and lease intangibles.
| · |  | The Company’s Board of Directors terminated its former CEO on October 2, 2013. As a result of the termination, the Company incurred general and administrative charges of $26 million that include: (i) the acceleration of $17 million of deferred compensation for restricted stock units and options that vested upon termination; and (ii) severance payments and other costs of approximately $9 million during the quarter ended September 30, 2013.
| · |  | The Company received £129 million ($202 million) from the par payoff of its Barchester debt investments generating $24 million of interest income during the quarter ended September 30, 2013.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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