Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Computation of Basic and Diluted Earnings per Share

The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator
Income (loss) from continuing operations	$	69,301	$	168,065	$	144,327	$	47,480
Noncontrolling interests' share in continuing operations	(3,955)		(3,535)		(7,685)		(6,841)
Income (loss) from continuing operations attributable to Healthpeak Properties, Inc.	65,346		164,530		136,642		40,639
Less: Participating securities' share in continuing operations	(281)		(287)		(2,258)		(2,732)
Income (loss) from continuing operations applicable to common shares	65,065		164,243		134,384		37,907
Income (loss) from discontinued operations	2,992		113,960		3,309		383,968
Noncontrolling interests' share in discontinued operations	—		(2,210)		—		(2,539)
Net income (loss) applicable to common shares	$	68,057	$	275,993	$	137,693	$	419,336
Numerator - Dilutive
Net income (loss) applicable to common shares	$	68,057	$	275,993	$	137,693	$	419,336
Add: distributions on dilutive convertible units and other	—		1,540		—		—
Dilutive net income (loss) available to common shares	$	68,057	$	277,533	$	137,693	$	419,336
Denominator
Basic weighted average shares outstanding	539,558		538,929		539,456		538,805
Dilutive potential common shares - equity awards(1)	257		264		245		276

Dilutive potential common shares - DownREIT conversions	—		5,501		—		—
Diluted weighted average common shares	539,815		544,694		539,701		539,081
Basic earnings (loss) per common share
Continuing operations	$	0.12	$	0.30	$	0.25	$	0.07
Discontinued operations	0.01		0.21		0.01		0.71
Net income (loss) applicable to common shares	$	0.13	$	0.51	$	0.26	$	0.78
Diluted earnings (loss) per common share
Continuing operations	$	0.12	$	0.30	$	0.25	$	0.07
Discontinued operations	0.01		0.21		0.01		0.71
Net income (loss) applicable to common shares	$	0.13	$	0.51	$	0.26	$	0.78

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(1)For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units and stock options).

For the three and six months ended June 30, 2022, the 9.1 million shares under forward sales agreements that have not been settled as of June 30, 2022 were anti-dilutive. For the three and six months ended June 30, 2021, forward sales agreements had no dilutive impact as no shares remained outstanding under ATM forward contracts during the period.