2014 Q3 Form 10-Q Financial Statement

#000110465914056632 Filed on August 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2014 Q1
Revenue $596.6M $536.1M $530.0M
YoY Change 9.24% 4.66% 3.68%
Cost Of Revenue $99.60M $78.90M $75.70M
YoY Change 32.1% 6.77% 4.13%
Gross Profit $497.0M $457.3M $454.3M
YoY Change 5.59% 4.31% 3.6%
Gross Profit Margin 83.31% 85.3% 85.72%
Selling, General & Admin $25.00M $21.70M $21.40M
YoY Change -36.39% -9.96% 3.38%
% of Gross Profit 5.03% 4.75% 4.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $123.0M $113.1M $107.4M
YoY Change 17.14% 3.57% 4.07%
% of Gross Profit 24.75% 24.73% 23.64%
Operating Expenses $147.9M $134.8M $128.8M
YoY Change -1.47% 1.13% 4.04%
Operating Profit $349.1M $322.5M $325.5M
YoY Change 8.89% 5.7% 3.43%
Interest Expense -$111.3M $106.8M $106.6M
YoY Change -202.97% -1.48% -2.27%
% of Operating Profit -31.88% 33.13% 32.76%
Other Income/Expense, Net $3.100M $709.0K $1.930M
YoY Change 95.71% -78.44% -84.07%
Pretax Income $240.9M $208.9M $220.8M
YoY Change 12.48% 4.51% 1.44%
Income Tax $100.0K $1.339M $1.446M
% Of Pretax Income 0.04% 0.64% 0.65%
Net Earnings $247.7M $218.9M $263.6M
YoY Change 5.97% 2.57% 14.33%
Net Earnings / Revenue 41.52% 40.83% 49.74%
Basic Earnings Per Share $0.48 $0.56
Diluted Earnings Per Share $539.5K $0.48 $0.56
COMMON SHARES
Basic Shares Outstanding 458.8M 458.2M shares 457.3M shares
Diluted Shares Outstanding 458.6M shares 457.7M shares

Balance Sheet

Concept 2014 Q3 2014 Q2 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $84.00M $54.00M $50.00M
YoY Change 71.43% 1.89% 4.17%
Cash & Equivalents $84.00M $54.07M $49.74M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $35.00M $33.00M $29.00M
Other Receivables $347.0M $392.0M $380.0M
Total Short-Term Assets $466.0M $479.0M $459.0M
YoY Change 7.13% 12.44% 13.61%
LONG-TERM ASSETS
Property, Plant & Equipment $10.84B $10.82B $10.59B
YoY Change 1.31% -0.42% -2.62%
Goodwill $50.35M $50.35M
YoY Change 0.0% 0.0%
Intangibles $477.8M $472.1M
YoY Change -7.93% -12.21%
Long-Term Investments $888.0M $443.0M $440.0M
YoY Change 99.55% 2.07% 5.26%
Other Assets $105.0M $80.00M $79.00M
YoY Change -51.39% -13.04% -2.47%
Total Long-Term Assets $20.28B $19.67B $19.40B
YoY Change 4.24% 0.2% 0.37%
TOTAL ASSETS
Total Short-Term Assets $466.0M $479.0M $459.0M
Total Long-Term Assets $20.28B $19.67B $19.40B
Total Assets $20.75B $20.14B $19.86B
YoY Change 4.3% 0.46% 0.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $329.0M $339.0M $276.0M
YoY Change 8.22% 7.96% 15.48%
Accrued Expenses $7.200M $4.200M $3.900M
YoY Change 213.04% 223.08% 254.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $329.0M $339.0M $276.0M
YoY Change 8.22% 7.96% 15.48%
LONG-TERM LIABILITIES
Long-Term Debt $9.215B $8.674B $8.450B
YoY Change 7.64% -1.06% -1.12%
Other Long-Term Liabilities $165.0M $158.0M $162.0M
YoY Change -5.71% -8.67% -2.41%
Total Long-Term Liabilities $9.380B $8.832B $8.612B
YoY Change 7.37% -1.21% -1.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $329.0M $339.0M $276.0M
Total Long-Term Liabilities $9.380B $8.832B $8.612B
Total Liabilities $9.972B $9.172B $8.889B
YoY Change 10.32% -0.89% -0.69%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $458.7M $458.0M
YoY Change 0.8% 0.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.77B $10.76B $10.76B
YoY Change
Total Liabilities & Shareholders Equity $20.75B $20.14B $19.86B
YoY Change 4.3% 0.46% 0.64%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2014 Q1
OPERATING ACTIVITIES
Net Income $247.7M $218.9M $263.6M
YoY Change 5.97% 2.57% 14.33%
Depreciation, Depletion And Amortization $123.0M $113.1M $107.4M
YoY Change 17.14% 3.57% 4.07%
Cash From Operating Activities $275.3M $360.5M $247.2M
YoY Change 1.18% 0.92% 15.32%
INVESTING ACTIVITIES
Capital Expenditures -$228.1M -$318.3M -$39.50M
YoY Change 601.85% 398.12% -38.66%
Acquisitions
YoY Change
Other Investing Activities -$343.9M -$20.30M -$7.100M
YoY Change -291.69% -93.22% -201.43%
Cash From Investing Activities -$572.0M -$338.6M -$46.55M
YoY Change -489.38% -6.85% -18.84%
FINANCING ACTIVITIES
Cash Dividend Paid $250.2M
YoY Change 4.92%
Common Stock Issuance & Retirement, Net $8.068M
YoY Change 1070.97%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 326.2M -17.50M -$451.5M
YoY Change -177.06% -248.31% 26.42%
NET CHANGE
Cash From Operating Activities 275.3M 360.5M $247.2M
Cash From Investing Activities -572.0M -338.6M -$46.55M
Cash From Financing Activities 326.2M -17.50M -$451.5M
Net Change In Cash 29.50M 4.400M -$250.8M
YoY Change -786.05% -20.0% 25.33%
FREE CASH FLOW
Cash From Operating Activities $275.3M $360.5M $247.2M
Capital Expenditures -$228.1M -$318.3M -$39.50M
Free Cash Flow $503.4M $678.8M $286.7M
YoY Change 65.27% 61.2% 2.85%

Facts In Submission

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EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
20494000 USD
us-gaap Profit Loss
ProfitLoss
450509000 USD
hcp Equity Method Investment Fees Earned
EquityMethodInvestmentFeesEarned
942000 USD
hcp Equity Method Investment Dividends Or Distributions Net
EquityMethodInvestmentDividendsOrDistributionsNet
2528000 USD
hcp Equity Method Investment Loss From Discontinued Operation
EquityMethodInvestmentLossFromDiscontinuedOperation
-5700000 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
79000 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
CY2014Q2 hcp Third Party Debt Collateralized By Facilities Debt Amount
ThirdPartyDebtCollateralizedByFacilitiesDebtAmount
108000000 USD
CY2014Q2 hcp Third Party Debt Collateralized By Facilities Asset Carrying Amount
ThirdPartyDebtCollateralizedByFacilitiesAssetCarryingAmount
372000000 USD
CY2014Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.545
CY2014Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.545
CY2014Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.545
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-4000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-10797000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-10846000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
2910000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
2802000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-780000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
1983000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-11669000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-14487000 USD
CY2014Q2 hcp Rental Revenues
RentalRevenues
480801000 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
144000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2014Q2 us-gaap Health Care Organization Resident Service Revenue
HealthCareOrganizationResidentServiceRevenue
37939000 USD
CY2014Q2 us-gaap Interest Income Operating
InterestIncomeOperating
16937000 USD
CY2014Q2 us-gaap Management Fees Revenue
ManagementFeesRevenue
444000 USD
CY2014Q2 us-gaap Revenues
Revenues
536121000 USD
CY2014Q2 hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
439873000 USD
CY2014Q2 hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
409165000 USD
hcp Rental Revenues
RentalRevenues
955595000 USD
us-gaap Health Care Organization Resident Service Revenue
HealthCareOrganizationResidentServiceRevenue
75992000 USD
us-gaap Interest Income Operating
InterestIncomeOperating
33633000 USD
us-gaap Revenues
Revenues
1066113000 USD
us-gaap Management Fees Revenue
ManagementFeesRevenue
893000 USD
hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
877013000 USD
hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
810158000 USD
CY2014Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
10783296000 USD
CY2014Q2 us-gaap Development In Process
DevelopmentInProcess
251400000 USD
CY2014Q2 us-gaap Land
Land
1880408000 USD
CY2014Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2100223000 USD
CY2014Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
34329000 USD
CY2013Q2 hcp Rental Revenues
RentalRevenues
461199000 USD
CY2013Q2 us-gaap Health Care Organization Resident Service Revenue
HealthCareOrganizationResidentServiceRevenue
36394000 USD
CY2013Q2 us-gaap Interest Income Operating
InterestIncomeOperating
14147000 USD
CY2013Q2 us-gaap Management Fees Revenue
ManagementFeesRevenue
499000 USD
CY2013Q2 us-gaap Revenues
Revenues
512239000 USD
CY2013Q2 hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
423706000 USD
CY2013Q2 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-2838000 USD
CY2013Q2 us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
73887000 USD
us-gaap Interest Income Operating
InterestIncomeOperating
26533000 USD
CY2014Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
477837000 USD
CY2014Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
234352000 USD
CY2014Q2 us-gaap Unsecured Debt
UnsecuredDebt
6826884000 USD
us-gaap Revenues
Revenues
1023424000 USD
us-gaap Management Fees Revenue
ManagementFeesRevenue
942000 USD
us-gaap Interest Expense
InterestExpense
217562000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
222279000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
106842000 USD
CY2014Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
113133000 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
29062000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
709000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1339000 USD
CY2014Q2 us-gaap Secured Debt
SecuredDebt
1229773000 USD
CY2014Q2 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
12487000 USD
CY2014Q2 hcp Direct Financing Leases Accretion Expense
DirectFinancingLeasesAccretionExpense
17813000 USD
CY2014Q2 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
175000 USD
CY2014Q2 hcp Lease Termination Fees
LeaseTerminationFees
233000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
247673000 USD
us-gaap Interest Expense
InterestExpense
213480000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
220521000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50456000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2639000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2785000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
29746000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
26455000 USD
hcp Direct Financing Leases Accretion Expense
DirectFinancingLeasesAccretionExpense
39235000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
343000 USD
hcp Lease Termination Fees
LeaseTerminationFees
811000 USD
hcp Adjusted Net Operating Income From Discontinued Operations
AdjustedNetOperatingIncomeFromDiscontinuedOperations
11000 USD
CY2013Q2 us-gaap Profit Loss
ProfitLoss
216725000 USD
CY2013Q2 us-gaap Interest Expense
InterestExpense
108452000 USD
CY2013Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
109210000 USD
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
24062000 USD
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3288000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1604000 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2828000 USD
CY2013Q2 hcp Direct Financing Leases Accretion Expense
DirectFinancingLeasesAccretionExpense
21394000 USD
CY2013Q2 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
5990000 USD
CY2013Q2 hcp Lease Termination Fees
LeaseTerminationFees
15000 USD
CY2013Q2 hcp Adjusted Net Operating Income From Discontinued Operations
AdjustedNetOperatingIncomeFromDiscontinuedOperations
-21000 USD
CY2013Q2 hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
399166000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
212389000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
44717000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
15400000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2519000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
30386000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
5059000 USD
hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
849376000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
15955000 USD
hcp Direct Financing Leases Accretion Expense
DirectFinancingLeasesAccretionExpense
45564000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
6068000 USD
hcp Lease Termination Fees
LeaseTerminationFees
15000 USD
hcp Adjusted Net Operating Income From Discontinued Operations
AdjustedNetOperatingIncomeFromDiscontinuedOperations
-16000 USD
hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
781790000 USD
us-gaap Cost Of Real Estate Revenue
CostOfRealEstateRevenue
146573000 USD
CY2013Q4 us-gaap Assets Held For Sale At Carrying Value
AssetsHeldForSaleAtCarryingValue
9819000 USD
CY2014Q2 us-gaap Other Borrowings
OtherBorrowings
73020000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
222279000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
3394000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
218885000 USD
CY2014Q2 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
489000 USD
CY2014Q2 hcp Net Income Loss Continuing Operations Available To Common Stockholders Basic
NetIncomeLossContinuingOperationsAvailableToCommonStockholdersBasic
218396000 USD
CY2014Q2 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
90426000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
218396000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
456156000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
6729000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
449427000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
1552000 USD
hcp Net Income Loss Continuing Operations Available To Common Stockholders Basic
NetIncomeLossContinuingOperationsAvailableToCommonStockholdersBasic
447875000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
1177000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
476444000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
213897000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
3245000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
210652000 USD
CY2013Q2 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
378000 USD
CY2013Q2 hcp Net Income Loss Continuing Operations Available To Common Stockholders Basic
NetIncomeLossContinuingOperationsAvailableToCommonStockholdersBasic
210274000 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
213023000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
445450000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
6379000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
439071000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
856000 USD
hcp Net Income Loss Continuing Operations Available To Common Stockholders Basic
NetIncomeLossContinuingOperationsAvailableToCommonStockholdersBasic
438215000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
443130000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1355000 USD
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
454618000 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
813000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
455431000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
454137000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
887000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
455024000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
458247000 shares
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
341000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
458588000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
457773000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
361000 shares
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.48
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.98
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.46
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.96
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.48
CY2014Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
339364000 USD
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.98
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.04
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.46
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.96
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
us-gaap Interest Paid Net
InterestPaidNet
205207000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1995000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
8036000 USD
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
17585000 USD
hcp Restricted Stock Vested
RestrictedStockVested
103000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
-16000 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
2912000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
12728000 USD
hcp Unrealized Gain Loss On Available For Sale Securities And Derivatives
UnrealizedGainLossOnAvailableForSaleSecuritiesAndDerivatives
10700000 USD
us-gaap Interest Paid Net
InterestPaidNet
204590000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3380000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
5983000 USD
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
25069000 USD
hcp Restricted Stock Vested
RestrictedStockVested
567000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
-1000 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
73000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
523000 USD
hcp Unrealized Gain Loss On Available For Sale Securities And Derivatives
UnrealizedGainLossOnAvailableForSaleSecuritiesAndDerivatives
-696000 USD
CY2013Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
927000 USD
CY2013Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
10544110000 USD
CY2013Q4 us-gaap Development In Process
DevelopmentInProcess
225869000 USD
CY2013Q4 us-gaap Land
Land
1822862000 USD
CY2013Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1965592000 USD
CY2013Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
10627249000 USD
CY2013Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
196576000 USD
CY2013Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
27494000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
300556000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
37229000 USD
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
489842000 USD
CY2013Q4 us-gaap Assets
Assets
20075870000 USD
CY2013Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
226858000 USD
CY2013Q4 us-gaap Unsecured Debt
UnsecuredDebt
6963375000 USD
CY2013Q4 us-gaap Secured Debt
SecuredDebt
1396485000 USD
CY2013Q4 us-gaap Other Borrowings
OtherBorrowings
74909000 USD
CY2013Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
98810000 USD
CY2013Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
318427000 USD
CY2013Q4 us-gaap Deferred Revenue
DeferredRevenue
65872000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
9144736000 USD
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
456961000 USD
CY2013Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
11334041000 USD
CY2013Q4 us-gaap Accumulated Distributions In Excess Of Net Income
AccumulatedDistributionsInExcessOfNetIncome
1053215000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
10723300000 USD
CY2013Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
23729000 USD
CY2013Q4 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
184105000 USD
CY2013Q4 us-gaap Minority Interest
MinorityInterest
207834000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10931134000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
20075870000 USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2014Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2014Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
10814881000 USD
CY2014Q2 us-gaap Assets
Assets
20144169000 USD
CY2014Q2 us-gaap Liabilities
Liabilities
9171575000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
10760131000 USD
CY2014Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
3052000 USD
CY2014Q2 us-gaap Minority Interest
MinorityInterest
212463000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53114000 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
20144169000 USD
CY2013Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
1529000 USD
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
458742070 shares
CY2014Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
458742070 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
456960648 shares
CY2014Q2 us-gaap Deferred Revenue
DeferredRevenue
67756000 USD
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
456960648 shares
CY2013Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
277769000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
559308000 USD
CY2013Q2 us-gaap Tenant Reimbursements
TenantReimbursements
25144000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
49346000 USD
us-gaap Health Care Organization Resident Service Revenue
HealthCareOrganizationResidentServiceRevenue
72139000 USD
CY2013Q2 us-gaap Capital Leases Income Statement Direct Financing Lease Revenue
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">(1)</font></b><b><font style="FONT-SIZE: 3pt; FONT-WEIGHT: bold;" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Business</font></b></p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in;">&#160;</p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">HCP,&#160;Inc., a Standard&#160;&amp; Poor&#8217;s (&#8220;S&amp;P&#8221;) 500 company, together with its consolidated entities (collectively, &#8220;HCP&#8221; or the &#8220;Company&#8221;), invests primarily in real estate serving the healthcare industry in the United States (&#8220;U.S.&#8221;). The Company is a Maryland corporation and was organized to qualify as a self-administered real estate investment trust (&#8220;REIT&#8221;) in 1985. The Company is headquartered in Irvine, California, with offices in Nashville, Tennessee and San Francisco, California. The Company acquires, develops, leases, manages and disposes of healthcare real estate, and provides financing to healthcare providers. The Company&#8217;s portfolio is comprised of investments in the following five healthcare segments: (i)&#160;senior housing, (ii)&#160;post-acute/skilled nursing, (iii)&#160;life science, (iv)&#160;medical office and (v)&#160;hospital. The Company makes investments within the healthcare segments using the following five investment products: (i)&#160;properties under lease, (ii)&#160;debt investments, (iii)&#160;developments and redevelopments, (iv)&#160;investment management and (v)&#160;investments in senior housing operations utilizing the structure permitted by the Housing and Economic Recovery Act of 2008, which is commonly referred to as &#8220;RIDEA.&#8221;</font></p> </div>
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dei Entity Registrant Name
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HCP, INC.
dei Entity Central Index Key
EntityCentralIndexKey
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dei Document Type
DocumentType
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dei Document Period End Date
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Entity Current Reporting Status
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dei Entity Filer Category
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dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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CY2013Q2 hcp Equity Method Investment Loss From Discontinued Operation
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us-gaap Tenant Reimbursements
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us-gaap Capital Leases Income Statement Direct Financing Lease Revenue
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8628384000 USD

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