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Other Real Estate Property Investments (Tables) | 12 Months Ended
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Dec. 31, 2015
Acquisition |
Schedule of other real estate acquisitions (in thousands) |
|  | December 31, 2015 |  | December 31, 2014 |  | December 31, 2013 |
Revenues |  | $ | 2,638,192 |  | $ | 2,454,039 |  | $ | 2,287,638 |
Net (loss) income |  |  | (531,464) |  |  | 954,540 |  |  | 996,976 |
Net (loss) income applicable to HCP, Inc. |  |  | (545,776) |  |  | 938,387 |  |  | 981,610 |
Basic earnings per common share |  | $ | (1.18) |  | $ | 2.04 |  | $ | 2.15 |
Diluted earnings per common share |  |  | (1.18) |  |  | 2.04 |  |  | 2.15 |
2015 Other Real Estate Acquisitions In addition to the RIDEA III acquisition discussed above, a summary of other real estate acquisitions for the year ended December 31, 2015 follows (in thousands):
|  | Consideration |  | Assets Acquired(1) |
|  | Cash Paid/ |  | Liabilities |  | Noncontrolling |  |  |  |  | Net |
Segment |  | Debt Settled |  | Assumed |  | Interest |  | Real Estate |  | Intangibles |
Senior housing(2) |  | $ | 268,782 |  | $ | 8,298 |  | $ | 4,255 |  | $ | 253,802 |  |  | 27,533 |
Post-acute/skilled nursing(2) |  |  | 178,707 |  |  | — |  |  | — |  |  | 142,528 |  |  | 36,179 |
Life science |  |  | 80,946 |  |  | 2,054 |  |  | — |  |  | 68,988 |  |  | 14,012 |
Medical office(3) |  |  | 384,114 |  |  | 12,866 |  |  | — |  |  | 305,091 |  |  | 91,889 |
|  | $ | 912,549 |  | $ | 23,218 |  | $ | 4,255 |  | $ | 770,409 |  | $ | 169,613 |
| (1) |  | Amounts include preliminary purchase price allocations which may be subject to change.
| (2) |  | Includes £174 million ($254 million) of the Company’s HC-One Facility (see Note 7) converted to fee ownership in a portfolio of 36 care homes located throughout the United Kingdom (“U.K.”) and includes £27 million ($42 million) of a loan originated in May 2015 converted to fee ownership in two U.K. care homes.
| (3) |  | Includes $225 million for a medical office building (“MOB”) portfolio acquisition completed in June 2015 and placed in HCP Ventures V, LLC (“HCP Ventures V”), of which in October 2015 the Company issued a 49% noncontrolling interest in HCP Ventures V for $110 million (see Note 13).
2014 Real Estate Acquisitions A summary of other real estate acquisitions for the year ended December 31, 2014 follows (in thousands):
|  | Consideration |  | Assets Acquired |
|  |  |  |  | Debt and Other |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Liabilities |  | Noncontrolling |  |  |  |  | Net |
Segment |  | Cash Paid |  | Assumed |  | Interest |  | Real Estate |  | Intangibles |
Senior housing(1) |  | $ | 233,797 |  | $ | 3,351 |  | $ | 6,321 | (2) | $ | 215,255 |  |  | 28,214 |
Life science |  |  | 43,500 |  |  | 250 |  |  | — |  |  | 41,281 |  |  | 2,469 |
Medical office |  |  | 226,173 |  |  | 33,677 |  |  | — |  |  | 226,510 |  |  | 33,340 |
|  | $ | 503,470 |  | $ | 37,278 |  | $ | 6,321 |  | $ | 483,046 |  | $ | 64,023 |
| (1) |  | Includes the acquisition of a $147 million (£88 million) portfolio of 23 care homes in the UK.
| (2) |  | Includes $5 million of non-managing member limited liability company units
Schedule of capital improvements (in thousands) | A summary of the Company’s funding for construction, tenant and other capital improvements follows (in thousands):
|  | Year Ended December 31, |
Segment |  | 2015 |  | 2014 |
Senior housing |  | $ | 131,405 |  | $ | 45,586 |
Post-acute/skilled nursing |  |  | 3,369 |  |  | 2,533 |
Life science |  |  | 122,319 |  |  | 133,164 |
Medical office |  |  | 131,021 |  |  | 90,027 |
Hospital |  |  | 37 |  |  | 1,688 |
|  | $ | 388,151 |  | $ | 272,998 |
RIDEA III |
Acquisition |
Schedule of unaudited pro forma consolidated results of operations (in thousands, except per share amounts) | The following unaudited pro forma consolidated results of operations assume that the RIDEA III acquisition was completed as of January 1, 2013 (in thousands, except per share amounts):
|  | December 31, 2015 |  | December 31, 2014 |  | December 31, 2013 |
Revenues |  | $ | 2,638,192 |  | $ | 2,454,039 |  | $ | 2,287,638 |
Net (loss) income |  |  | (531,464) |  |  | 954,540 |  |  | 996,976 |
Net (loss) income applicable to HCP, Inc. |  |  | (545,776) |  |  | 938,387 |  |  | 981,610 |
Basic earnings per common share |  | $ | (1.18) |  | $ | 2.04 |  | $ | 2.15 |
Diluted earnings per common share |  |  | (1.18) |  |  | 2.04 |  |  | 2.15 |

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