2019 Q2 Form 10-Q Financial Statement

#000162828019009779 Filed on August 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $307.0M $469.6M
YoY Change -34.61% 2.31%
Cost Of Revenue $214.0M $173.9M
YoY Change 23.08% 13.52%
Gross Profit $93.04M $295.7M
YoY Change -68.53% -3.3%
Gross Profit Margin 30.3% 62.97%
Selling, General & Admin $23.40M $22.50M
YoY Change 4.0% 5.63%
% of Gross Profit 25.15% 7.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $165.2M $143.2M
YoY Change 15.36% 9.56%
% of Gross Profit 177.55% 48.43%
Operating Expenses $214.0M $173.9M
YoY Change 23.08% 13.52%
Operating Profit -$120.9M $121.8M
YoY Change -199.29% -20.17%
Interest Expense $56.94M $73.04M
YoY Change -22.04% -6.11%
% of Operating Profit 59.96%
Other Income/Expense, Net $31.32M $47.85M
YoY Change -34.54% 9806.83%
Pretax Income -$1.506M -$101.0K
YoY Change 1391.09% -142.08%
Income Tax -$1.864M -$4.654M
% Of Pretax Income
Net Earnings -$13.60M $89.94M
YoY Change -115.12% 364.03%
Net Earnings / Revenue -4.43% 19.15%
Basic Earnings Per Share -$0.03 $0.19
Diluted Earnings Per Share -$0.03 $0.19
COMMON SHARES
Basic Shares Outstanding 478.7M shares 469.8M shares
Diluted Shares Outstanding 478.7M shares 469.9M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $131.0M $91.00M
YoY Change 43.96% -76.79%
Cash & Equivalents $130.5M $91.38M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $693.0M
Prepaid Expenses
Receivables $54.00M $44.00M
Other Receivables $0.00 $402.0M
Total Short-Term Assets $185.0M $1.230B
YoY Change -84.96% 64.22%
LONG-TERM ASSETS
Property, Plant & Equipment $11.41B $9.962B
YoY Change 14.5% -6.47%
Goodwill
YoY Change
Intangibles $318.0M $294.1M
YoY Change 8.13% -29.04%
Long-Term Investments $518.0M $629.0M
YoY Change -17.65% -25.83%
Other Assets $187.0M $31.00M
YoY Change 503.23% -49.18%
Total Long-Term Assets $13.53B $12.22B
YoY Change 10.69% -8.48%
TOTAL ASSETS
Total Short-Term Assets $185.0M $1.230B
Total Long-Term Assets $13.53B $12.22B
Total Assets $13.71B $13.45B
YoY Change 1.95% -4.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $371.0M $399.0M
YoY Change -7.02% 2.31%
Accrued Expenses $155.0M $62.60M
YoY Change 147.6% 83.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $2.000M
YoY Change -50.0%
Total Short-Term Liabilities $527.0M $401.0M
YoY Change 31.42% 2.82%
LONG-TERM LIABILITIES
Long-Term Debt $6.289B $7.401B
YoY Change -15.02% -1.12%
Other Long-Term Liabilities $277.0M $233.0M
YoY Change 18.88% 17.09%
Total Long-Term Liabilities $6.566B $7.634B
YoY Change -13.99% -0.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $527.0M $401.0M
Total Long-Term Liabilities $6.566B $7.634B
Total Liabilities $7.094B $8.035B
YoY Change -11.71% -0.48%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $491.1M $469.8M
YoY Change 4.53% 0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.054B $5.143B
YoY Change
Total Liabilities & Shareholders Equity $13.71B $13.45B
YoY Change 1.95% -4.62%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$13.60M $89.94M
YoY Change -115.12% 364.03%
Depreciation, Depletion And Amortization $165.2M $143.2M
YoY Change 15.36% 9.56%
Cash From Operating Activities $222.0M $243.5M
YoY Change -8.83% 2.1%
INVESTING ACTIVITIES
Capital Expenditures -$917.0M -$117.1M
YoY Change 683.09% 7.33%
Acquisitions
YoY Change
Other Investing Activities -$11.60M $598.2M
YoY Change -101.94% 61.33%
Cash From Investing Activities -$928.7M $481.1M
YoY Change -293.04% 83.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 716.2M -720.5M
YoY Change -199.4% -15.55%
NET CHANGE
Cash From Operating Activities 222.0M 243.5M
Cash From Investing Activities -928.7M 481.1M
Cash From Financing Activities 716.2M -720.5M
Net Change In Cash 9.500M 4.100M
YoY Change 131.71% -101.16%
FREE CASH FLOW
Cash From Operating Activities $222.0M $243.5M
Capital Expenditures -$917.0M -$117.1M
Free Cash Flow $1.139B $360.6M
YoY Change 215.86% 3.74%

Facts In Submission

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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss
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CY2018Q2 hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
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461000 USD
hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
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hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
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CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2019Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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110155000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2019Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2018Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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469941000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
479885000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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-9980000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
92928000 USD
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
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101000 USD
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195000 USD
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q2 us-gaap Profit Loss
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OtherComprehensiveIncomeLossNetOfTax
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CY2018Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2018Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4299000 USD
CY2018Q2 us-gaap Dividends Common Stock
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CY2018Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
590000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
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6513181000 USD
us-gaap Profit Loss
ProfitLoss
55010000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
249000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
406813000 USD
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StockIssuedDuringPeriodValueConversionOfUnits
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StockRepurchasedDuringPeriodValue
4582000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
219000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10358000 USD
us-gaap Dividends Common Stock
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354550000 USD
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5674082000 USD
us-gaap Profit Loss
ProfitLoss
136165000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
19944000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2778000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10218000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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us-gaap Dividends Common Stock
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348439000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
9466000 USD
us-gaap Minority Interest Decrease From Redemptions
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5416723000 USD
us-gaap Profit Loss
ProfitLoss
55010000 USD
us-gaap Profit Loss
ProfitLoss
136165000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
297247000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
286542000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10358000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10218000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5440000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6690000 USD
us-gaap Straight Line Rent
StraightLineRent
5968000 USD
us-gaap Straight Line Rent
StraightLineRent
16479000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2369000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
469000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
9050000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
13911000 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-7486000 USD
us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
77396000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
13912000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1135000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
19492000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
66879000 USD
hcp Gain Loss On Consolidation
GainLossOnConsolidation
11501000 USD
hcp Gain Loss On Consolidation
GainLossOnConsolidation
-41017000 USD
us-gaap Insured Event Gain Loss
InsuredEventGainLoss
6579000 USD
CY2018 us-gaap Insured Event Gain Loss
InsuredEventGainLoss
0 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
161000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
3367000 USD
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
15473000 USD
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
8444000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-10785000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
34245000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
380560000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
439674000 USD
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
870148000 USD
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
23087000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
289885000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
229831000 USD
us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
38733000 USD
us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
45591000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
157198000 USD
hcp Distributions In Excess Of Earnings From Unconsolidated Joint Ventures
DistributionsInExcessOfEarningsFromUnconsolidatedJointVentures
15344000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
9359000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
354550000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
348439000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
3615000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
319224000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
8541000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
6053000 USD
hcp Distributions In Excess Of Earnings From Unconsolidated Joint Ventures
DistributionsInExcessOfEarningsFromUnconsolidatedJointVentures
11612000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
0 USD
us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
335709000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
841000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
132429000 USD
hcp Paymentsto Acquire Loans Receivable Direct Financing Leasesand Other
PaymentstoAcquireLoansReceivableDirectFinancingLeasesandOther
60680000 USD
hcp Paymentsto Acquire Loans Receivable Direct Financing Leasesand Other
PaymentstoAcquireLoansReceivableDirectFinancingLeasesandOther
6376000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1088977000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
491768000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1340000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
453000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
890000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
923164000 USD
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
5334000 USD
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
2856000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
250000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
10482000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
407032000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
3433000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4582000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2778000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
995000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
11041000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
71931000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
724658000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-891740000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-35000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16206000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
39726000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
139846000 USD
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121929000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82203000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156052000 USD
us-gaap Nature Of Operations
NatureOfOperations
Business<div style="line-height:120%;padding-top:0px;text-align:justify;"><hr/></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:normal;text-decoration:none;">Overview</span></div>HCP, Inc., a Standard &amp; Poor’s 500 company, is a Maryland corporation that is organized to qualify as a real estate investment trust (“REIT”) which, together with its consolidated entities (collectively, “HCP” or the “Company”), invests primarily in real estate serving the healthcare industry in the United States (“U.S.”). The Company acquires, develops, leases, owns, and manages healthcare real estate. The Company’s diverse portfolio is comprised of investments in the following reportable healthcare segments: (i) senior housing triple-net; (ii) senior housing operating portfolio (“SHOP”); (iii) life science; and (iv) medical office.
CY2018Q4 hcp Gain Loss On Consolidation
GainLossOnConsolidation
50000000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
21000000 USD
hcp Commitments Developmentand Redevelopment Projects Amount Increase
CommitmentsDevelopmentandRedevelopmentProjectsAmountIncrease
82000000 USD
CY2019Q2 hcp Commitments Developmentand Redevelopment Projects
CommitmentsDevelopmentandRedevelopmentProjects
382000000 USD
CY2019Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
8000000 USD
CY2019Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
11000000 USD
CY2018Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
95000000 USD
CY2019Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
59000000 USD
CY2019Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
164000000 USD
CY2019Q2 us-gaap Insured Event Gain Loss
InsuredEventGainLoss
6000000 USD
CY2019Q2 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
300000 USD
CY2018Q2 hcp Properties Held For Sale Number
PropertiesHeldForSaleNumber
13 property
CY2017Q4 us-gaap Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
0.10
CY2017Q4 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
95000000 USD
CY2017Q4 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
32000000 USD
CY2018Q1 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
63000000 USD
CY2019Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
237607000 USD
CY2018Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
262885000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
474830000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
526240000 USD
CY2019Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
63590000 USD
CY2018Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
54955000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
120589000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
108352000 USD
CY2019Q2 us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
10190000 USD
CY2018Q2 us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
13490000 USD
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
9484000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
19577000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
32558000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
31989000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
25346000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
24774000 USD
CY2019Q2 hcp Direct Financing Lease Net Investmentin Lease Gross
DirectFinancingLeaseNetInvestmentinLeaseGross
367251000 USD
us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
23714000 USD
us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
26756000 USD
CY2019Q2 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
264277000 USD
CY2019Q2 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
114364000 USD
CY2019Q2 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
11390000 USD
CY2019Q2 hcp Direct Financing Lease Allowancefor Losses
DirectFinancingLeaseAllowanceforLosses
-10147000 USD
CY2019Q2 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
357104000 USD
CY2019Q2 hcp Properties With Direct Financing Leases Number
PropertiesWithDirectFinancingLeasesNumber
15 property
CY2018Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases Minimum Payments To Be Received
CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived
1013976000 USD
CY2018Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases Unguaranteed Residual Values Of Leased Property
CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty
507484000 USD
CY2018Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases Deferred Income
CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome
807642000 USD
CY2018Q4 us-gaap Net Investment In Direct Financing And Sales Type Leases
NetInvestmentInDirectFinancingAndSalesTypeLeases
713818000 USD
CY2018Q4 hcp Properties With Direct Financing Leases Number
PropertiesWithDirectFinancingLeasesNumber
29 property
CY2019Q2 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
357104000 USD
CY2019Q2 hcp Net Investment In Direct Financing And Sales Type Leases As Percentage
NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage
1
CY2019Q2 us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
6013000 USD
CY2018Q2 us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
5782000 USD
us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
11875000 USD
us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
11552000 USD
CY2019Q2 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
5758000 USD
CY2018Q2 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
4838000 USD
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
10593000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
550530000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Undiscounted Excess Amount
SalesTypeAndDirectFinancingLeasesLeaseReceivableUndiscountedExcessAmount
286253000 USD
CY2019Q2 hcp Salestypeand Direct Financing Leases Lease Receivable Paymentstobe Received Six Years
SalestypeandDirectFinancingLeasesLeaseReceivablePaymentstobeReceivedSixYears
25393000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
390893000 USD
CY2019Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
264277000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
675537000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
6235000 USD
CY2018Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
114970000 USD
CY2018Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
63308000 USD
CY2018Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
63687000 USD
CY2018Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
58135000 USD
CY2018Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
58570000 USD
CY2018Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
655306000 USD
CY2018Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
1013976000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
480607000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
947697000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
889007000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
788835000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
714922000 USD
CY2019Q2 hcp Lessor Operating Lease Paymentstobe Received Six Years
LessorOperatingLeasePaymentstobeReceivedSixYears
620603000 USD
CY2019Q2 hcp Lessor Operating Lease Paymentstobe Received After Year Six
LessorOperatingLeasePaymentstobeReceivedAfterYearSix
2024028000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
6465699000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
971417000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
928102000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
853451000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
751972000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
2320847000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
6501326000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
4117000 USD
CY2018Q2 us-gaap Lease Cost
LeaseCost
3578000 USD
us-gaap Lease Cost
LeaseCost
7996000 USD
us-gaap Lease Cost
LeaseCost
7225000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
5723000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4084000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P51Y
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0436
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4781000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8934000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8568000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8228000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
7915000 USD
CY2019Q2 hcp Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
6761000 USD
CY2019Q2 hcp Lessee Operating Lease Liability Payments Dueafter Year Six
LesseeOperatingLeaseLiabilityPaymentsDueafterYearSix
448712000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
493899000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
339022000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
154877000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5597000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
5687000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5776000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5862000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
5983000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
466130000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
495035000 USD
CY2019Q2 hcp Loans Receivable Gross Carrying Amount Mezzanine
LoansReceivableGrossCarryingAmountMezzanine
25886000 USD
CY2018Q4 hcp Loans Receivable Gross Carrying Amount Mezzanine
LoansReceivableGrossCarryingAmountMezzanine
21013000 USD
CY2019Q2 hcp Loans Receivable Gross Participating Development Loansand Other
LoansReceivableGrossParticipatingDevelopmentLoansandOther
98704000 USD
CY2018Q4 hcp Loans Receivable Gross Participating Development Loansand Other
LoansReceivableGrossParticipatingDevelopmentLoansandOther
42037000 USD
CY2019Q2 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-31000 USD
CY2018Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-52000 USD
CY2019Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
124559000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
62998000 USD
CY2019Q2 hcp Loansand Leases Receivable Remaining Commitments
LoansandLeasesReceivableRemainingCommitments
31000000 USD
us-gaap Loans And Leases Receivable Commitments Fixed Rates
LoansAndLeasesReceivableCommitmentsFixedRates
115000000 USD
CY2019Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
124559000 USD
CY2019Q2 hcp Loans And Leases Receivable As Percentage
LoansAndLeasesReceivableAsPercentage
1
CY2019Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
518033000 USD
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
540088000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
555150000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
556114000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
237190000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
251035000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
317960000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
305079000 USD
us-gaap Forward Contract Indexed To Issuers Equity Forward Rate
ForwardContractIndexedToIssuersEquityForwardRate
31.84
CY2019Q2 hcp Finite Lived Intangible Liabilities Gross
FiniteLivedIntangibleLiabilitiesGross
88892000 USD
CY2018Q4 hcp Finite Lived Intangible Liabilities Gross
FiniteLivedIntangibleLiabilitiesGross
94444000 USD
CY2019Q2 hcp Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
35121000 USD
CY2018Q4 hcp Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
39781000 USD
CY2019Q2 hcp Finite Lived Intangible Liabilities Net
FiniteLivedIntangibleLiabilitiesNet
53771000 USD
CY2018Q4 hcp Finite Lived Intangible Liabilities Net
FiniteLivedIntangibleLiabilitiesNet
54663000 USD
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
86000000 USD
hcp Intangible Liabilities Acquired
IntangibleLiabilitiesAcquired
8000000 USD
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P2Y
hcp Acquired Finitelived Intangible Liabilities Weighted Average Useful Life
AcquiredFinitelivedIntangibleLiabilitiesWeightedAverageUsefulLife
P5Y
CY2018Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
0 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1456000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
803046000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
10679000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
902694000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1332830000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
3184279000 USD
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
6234984000 USD
CY2019Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
31636000 USD
CY2019Q2 hcp Long Term Debt Excluding Disposal Group
LongTermDebtExcludingDisposalGroup
6203348000 USD
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
6231752000 USD
CY2019Q2 us-gaap Other Borrowings
OtherBorrowings
87000000 USD
CY2019Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-1766000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-1683000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-272000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-467000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
2421000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
2558000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4459000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4708000 USD
CY2019Q2 hcp Rental Revenues
RentalRevenues
489153000 USD
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
213993000 USD
CY2019Q2 hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
275160000 USD
CY2019Q2 hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-2950000 USD
CY2019Q2 hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
272210000 USD
CY2019Q2 hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
2950000 USD
CY2019Q2 us-gaap Interest Income Operating
InterestIncomeOperating
2414000 USD
CY2019Q2 us-gaap Interest Expense
InterestExpense
56942000 USD
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
165296000 USD
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27120000 USD
CY2019Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1337000 USD
CY2019Q2 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
68538000 USD
CY2019Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
11448000 USD
CY2019Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1135000 USD
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
21008000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1864000 USD
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1506000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
-9980000 USD
CY2018Q2 hcp Rental Revenues
RentalRevenues
468104000 USD
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
173866000 USD
CY2018Q2 hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
294238000 USD
CY2018Q2 hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-3662000 USD
hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-5288000 USD
hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
540674000 USD
CY2018Q2 hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
290576000 USD
CY2018Q2 hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
3662000 USD
CY2018Q2 us-gaap Interest Income Operating
InterestIncomeOperating
1447000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
73038000 USD
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
143292000 USD
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22514000 USD
CY2018Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2404000 USD
CY2018Q2 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
13912000 USD
CY2018Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
46064000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1786000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4654000 USD
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-101000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
92928000 USD
hcp Rental Revenues
RentalRevenues
923594000 USD
us-gaap Operating Expenses
OperatingExpenses
382920000 USD
hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
535386000 USD
hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
5288000 USD
us-gaap Interest Income Operating
InterestIncomeOperating
4127000 USD
us-gaap Interest Expense
InterestExpense
106269000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
297247000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
48475000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
5855000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
77396000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
19492000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1135000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
24141000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5322000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2369000 USD
us-gaap Profit Loss
ProfitLoss
55010000 USD
hcp Rental Revenues
RentalRevenues
940936000 USD
us-gaap Operating Expenses
OperatingExpenses
346418000 USD
hcp Net Operating Income From Continuing Operations
NetOperatingIncomeFromContinuingOperations
594518000 USD
hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-13349000 USD
hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
581169000 USD
hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
13349000 USD
us-gaap Interest Income Operating
InterestIncomeOperating
7812000 USD
us-gaap Interest Expense
InterestExpense
148140000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
286542000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
51689000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
13912000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
4599000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
66879000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-38621000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9990000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
469000 USD
us-gaap Profit Loss
ProfitLoss
136165000 USD
CY2019Q2 us-gaap Forward Contract Indexed To Issuers Equity Shares
ForwardContractIndexedToIssuersEquityShares
13750000 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
1300000 shares
CY2019Q2 us-gaap Profit Loss
ProfitLoss
-9980000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
92928000 USD
us-gaap Profit Loss
ProfitLoss
55010000 USD
us-gaap Profit Loss
ProfitLoss
136165000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
3617000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
2986000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
7137000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
5991000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-13597000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
89942000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
47873000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
130174000 USD
CY2019Q2 hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
394000 USD
CY2018Q2 hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
461000 USD
hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
837000 USD
hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
852000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13991000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
89481000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
47036000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
129322000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
478739000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
469769000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
478260000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
469664000 shares
hcp Dilutive Securities Effecton Basic Earnings Per Share Dilutive Convertible Securities Not Yet Settled
DilutiveSecuritiesEffectonBasicEarningsPerShareDilutiveConvertibleSecuritiesNotYetSettled
641000000 USD
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
172000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
281000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
135000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
1344000 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
478739000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
469941000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
479885000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
469799000 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
hcp Incremental Common Shares Attributableto Dilutive Effectof Equity Forward Agreements Not Yet Settled
IncrementalCommonSharesAttributabletoDilutiveEffectofEquityForwardAgreementsNotYetSettled
22000000 shares
hcp Incremental Common Shares Attributableto Dilutive Effectof Equity Forward Agreements Not Yet Settled
IncrementalCommonSharesAttributabletoDilutiveEffectofEquityForwardAgreementsNotYetSettled
22000000 shares
us-gaap Interest Paid Net
InterestPaidNet
99934000 USD
us-gaap Interest Paid Net
InterestPaidNet
141777000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1171000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2735000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
15413000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
8033000 USD
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
102307000 USD
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
66233000 USD
hcp Equity Method Investment Amount Retained
EquityMethodInvestmentAmountRetained
0 USD
hcp Equity Method Investment Amount Retained
EquityMethodInvestmentAmountRetained
507369000 USD
hcp Loan Receivable Reduction
LoanReceivableReduction
0 USD
hcp Loan Receivable Reduction
LoanReceivableReduction
147474000 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
106457000 USD
hcp Restricted Stock Vested
RestrictedStockVested
4498000 USD
hcp Restricted Stock Vested
RestrictedStockVested
340000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
59778000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 USD
hcp Conversion Of Direct Finance Leases To Real Estate
ConversionOfDirectFinanceLeasesToRealEstate
350540000 USD
hcp Conversion Of Direct Finance Leases To Real Estate
ConversionOfDirectFinanceLeasesToRealEstate
0 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
17850000 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
130521000 USD
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91381000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25531000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
30548000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156052000 USD
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121929000 USD
hcp Schedule Of Variable Interest Entities Included In Balance Sheet
ScheduleOfVariableInterestEntitiesIncludedInBalanceSheet
Total assets and total liabilities include VIE assets and liabilities as follows (in thousands):<div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:69%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">June 30, 2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assets</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,454,366</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,949,582</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Development costs and construction in progress</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>49,101</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>39,584</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>267,288</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>151,746</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated depreciation and amortization</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(416,738</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(398,143</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net real estate</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,354,017</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,742,769</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investments in and advances to unconsolidated joint ventures</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,550</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts receivable, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,329</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,904</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash and cash equivalents</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>55,574</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>23,772</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Restricted cash</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,349</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,399</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Intangible assets, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>137,749</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>111,333</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Right-of-use asset, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>93,363</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other assets, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,610</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,149</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total assets</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,693,991</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,933,876</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mortgage debt</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,064</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>44,598</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Intangible liabilities, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,162</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,128</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lease liability</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>90,266</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts payable and accrued liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>57,310</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>66,736</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred revenue</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>24,119</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>24,215</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total liabilities </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>285,921</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>154,677</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div>

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