XML 50 R31.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
--- | ---
Dec. 31, 2018
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, 2018 and 2017 (in thousands, except per share amounts):
| Three Months Ended 2018
| March 31 |  | June 30 |  | September 30 |  | December 31
Total revenues | $ | 479,197 |  |  | $ | 469,551 |  |  | $ | 456,022 |  |  | $ | 441,919 |
Income (loss) before income taxes and equity income from investments in unconsolidated joint ventures | 37,331 |  |  | 88,375 |  |  | 98,908 |  |  | 833,600 |
Net income (loss) | 43,237 |  |  | 92,928 |  |  | 102,926 |  |  | 834,383 |
Net income (loss) applicable to HCP, Inc. | 40,232 |  |  | 89,942 |  |  | 99,371 |  |  | 831,548 |
Dividends paid per common share | 0.37 |  |  | 0.37 |  |  | 0.37 |  |  | 0.37 |
Basic earnings per common share | 0.08 |  |  | 0.19 |  |  | 0.21 |  |  | 1.75 |
Diluted earnings per common share | 0.08 |  |  | 0.19 |  |  | 0.21 |  |  | 1.73 |
| 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 (loss) income | 464,177 |  |  | 22,101 |  |  | (5,720 | ) |  | (57,924 | )
Net (loss) income 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 | )
The above selected quarterly financial data includes the following significant transactions: 2018
• | During the quarter ended December 31, 2018, the Company sold its Shoreline Technology Center life science campus for $1.0 billion and recognized a gain on sale of $726 million.
• | During the quarter ended December 31, 2018, the Company acquired the outstanding equity interests in three life science joint ventures for $92 million and recognized a gain on consolidation of $50 million.
• | During the quarter ended December 31, 2018, the Company sold 19 senior housing assets (11 senior housing triple-net assets and eight SHOP assets) for $377 million and recognized gain on sales of $40 million.
• | During the quarter ended December 31, 2018, the Company recognized impairment charges of $33 million related to four underperforming SHOP assets.
• | During the quarter ended September 30, 2018, the Company repurchased $700 million of its 5.375% senior notes due 2021 and recorded a $44 million loss on debt extinguishment.
• | During the quarter ended March 31, 2018, The Company recognized a £29 million ($41 million) loss on consolidation related to the U.K. Bridge Loan (see Notes 7 and 19).
2017
• | During the quarter ended December 31, 2017, the Company recognized a $20 million net reduction of rental and related revenues and $35 million of operating expense related to the Brookdale Transactions.
• | 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 remeasurement of deferred tax assets and liabilities.
• | During the quarter ended September 30, 2017, the Company repurchased $500 million of its 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.
• | During 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.
• | During 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.
• | During the quarter ended March 31, 2017, the Company sold its Four Seasons Notes, which generated a £42 million ($51 million) gain on sale.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration