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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2016
Selected Quarterly Financial Data (Unaudited) |
Selected Quarterly Financial Data (Unaudited) | NOTE 25. Selected Quarterly Financial Data (Unaudited) The following table summarizes selected quarterly information for the years ended December 31, 2016 and 2015 (in thousands, except per share amounts):
|  | Three Months Ended 2016 |
|  | March 31 |  | June 30 |  | September 30 |  | December 31 |
Total revenues |  | $ | 520,457 |  | $ | 538,332 |  | $ | 530,555 |  | $ | 539,950 |
Total discontinued operations |  |  | 68,408 |  |  | 107,378 |  |  | 108,215 |  |  | (18,246) |
Income before income taxes and equity income from investments in unconsolidated joint ventures |  |  | 55,949 |  |  | 196,352 |  |  | 47,453 |  |  | 67,530 |
Net income |  |  | 119,745 |  |  | 304,842 |  |  | 154,039 |  |  | 61,300 |
Net income applicable to HCP, Inc. |  |  | 116,119 |  |  | 301,717 |  |  | 151,250 |  |  | 58,661 |
Basic earnings per common share |  |  | 0.25 |  |  | 0.65 |  |  | 0.32 |  |  | 0.12 |
Diluted earnings per common share |  |  | 0.25 |  |  | 0.64 |  |  | 0.32 |  |  | 0.12 |
|  | Three Months Ended 2015 |
|  | March 31 |  | June 30 |  | September 30 |  | December 31 |
Total revenues |  | $ | 451,458 |  | $ | 459,806 |  | $ | 508,900 |  | $ | 520,325 |
Total discontinued operations |  |  | (308,028) |  |  | 158,479 |  |  | 130,210 |  |  | (679,765) |
Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures |  |  | 70,806 |  |  | 6,320 |  |  | (11,263) |  |  | 70,408 |
Net (loss) income |  |  | (237,503) |  |  | 167,748 |  |  | 117,954 |  |  | (594,617) |
Net (loss) income applicable to HCP, Inc. |  |  | (240,614) |  |  | 164,885 |  |  | 115,362 |  |  | (598,868) |
Basic earnings per common share |  |  | (0.52) |  |  | 0.36 |  |  | 0.25 |  |  | (1.29) |
Diluted earnings per common share |  |  | (0.52) |  |  | 0.36 |  |  | 0.25 |  |  | (1.29) |
The above selected quarterly financial data includes the following significant transactions:
| · |  | The quarter ended December 31, 2016 includes the following related to the Spin-Off: (i) $46 million of loss on debt extinguishment and (ii) $58 million of transaction costs.
| · |  | The quarter ended June 30, 2016 includes $120 million of gain on sales from real estate dispositions.
| · |  | The quarter ended March 31, 2016 includes $53 million of income tax expense associated with state built-in gain tax payable upon the disposition of specific real estate assets, of which $49 million relates to the HCRMC real estate portfolio.
| · |  | During the quarter ended December 31, 2015, the Company recorded net impairment charges of: (i) $817 million related to its DFL investments with HCRMC and (ii) $19 million related to its equity investment in HCRMC, both of which are included in discontinued operations.
| · |  | During the quarter ended September 30, 2015, the Company recorded impairment charges of: (i) $70 million related to its Four Seasons Notes and (ii) $27 million related to its equity investment in HCRMC that is included in discontinued operations.
| · |  | During the quarter ended June 30, 2015, the Company recorded an impairment charge of $42 million related to its Four Seasons Notes.
| · |  | During the quarter ended March 31, 2015, the Company recorded a net impairment charge of $478 million related to its DFL investments with HCRMC that is included in discontinued operations.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: 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=68064558&loc=d3e765-108305 Reference 3: 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=68064558&loc=d3e725-108305 + Details
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