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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Data (Unaudited) | Selected Quarterly Financial Data (Unaudited) The following table summarizes selected quarterly information for the years ended December 31, 2017 and 2016 (in thousands, except per share amounts):
| Three Months Ended 2017
| March 31 |  | June 30 |  | September 30 |  | December 31
Total revenues | $ | 492,168 |  |  | $ | 458,928 |  |  | $ | 454,023 |  |  | $ | 443,259 |
Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures | 454,746 |  |  | 18,874 |  |  | (12,263 | ) |  | (50,957 | )
Net income (loss) | 464,177 |  |  | 22,101 |  |  | (5,720 | ) |  | (57,924 | )
Net income (loss) applicable to HCP, Inc. | 461,145 |  |  | 19,383 |  |  | (7,657 | ) |  | (58,702 | )
Dividends paid per common share | 0.37 |  |  | 0.37 |  |  | 0.37 |  |  | 0.37 |
Basic earnings per common share | 0.98 |  |  | 0.04 |  |  | (0.02 | ) |  | (0.13 | )
Diluted earnings per common share | 0.97 |  |  | 0.04 |  |  | (0.02 | ) |  | (0.13 | )
| 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 (loss) before income taxes and equity income from investments in unconsolidated joint ventures | 55,949 |  |  | 196,352 |  |  | 47,453 |  |  | 67,530 |
Net (loss) income | 119,745 |  |  | 304,842 |  |  | 154,039 |  |  | 61,300 |
Net (loss) income applicable to HCP, Inc. | 116,119 |  |  | 301,717 |  |  | 151,250 |  |  | 58,661 |
Dividends paid per common share | 0.58 |  |  | 0.58 |  |  | 0.58 |  |  | 0.37 |
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 |
The above selected quarterly financial data includes the following significant transactions: 2017
• | During the quarter ended December 31, 2017, the Company recognized $20 million net reduction of rental and related revenues and $35 million of operating expense related to the Brookdale Transaction.
• | During the quarter ended December 31, 2017, the Company recorded an impairment charge of $84 million related to the Tandem Mezzanine Loan.
• | During the quarter ended December 31, 2017, the Company recognized a tax expense of $17 million due to a re-measurement of deferred tax assets and liabilities.
• | During the quarter ended September 30, 2017, the Company repurchased $500 million of our 5.375% senior notes due 2021 and recorded a $54 million loss on debt extinguishment.
• | During the quarter ended June 30, 2017, the Company recorded an impairment charge of $57 million related to the Tandem Mezzanine Loan.
• | The quarter ended March 31, 2017, the Company deconsolidated the net assets of RIDEA II and recognized a net gain on sale of $99 million.
• | The quarter ended March 31, 2017, the Company sold 64 senior housing triple-net assets, resulting in a net gain on sale of $170 million.
• | The quarter ended March 31, 2017, the Company sold its Four Seasons Notes, which generated a £42 million ($51 million) gain on sale.
2016
• | 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.

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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 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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