2020 Q2 Form 10-Q Financial Statement

#000162828020011794 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $408.6M $307.0M
YoY Change 33.07% -34.61%
Cost Of Revenue $177.8M $214.0M
YoY Change -16.91% 23.08%
Gross Profit $230.8M $93.04M
YoY Change 148.0% -68.53%
Gross Profit Margin 56.48% 30.3%
Selling, General & Admin $23.70M $23.40M
YoY Change 1.28% 4.0%
% of Gross Profit 10.27% 25.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $178.5M $165.2M
YoY Change 8.05% 15.36%
% of Gross Profit 77.36% 177.55%
Operating Expenses $177.8M $214.0M
YoY Change -16.91% 23.08%
Operating Profit $52.94M -$120.9M
YoY Change -143.77% -199.29%
Interest Expense $54.82M $56.94M
YoY Change -3.72% -22.04%
% of Operating Profit 103.55%
Other Income/Expense, Net $72.88M $31.32M
YoY Change 132.67% -34.54%
Pretax Income -$17.09M -$1.506M
YoY Change 1034.53% 1391.09%
Income Tax $106.0K -$1.864M
% Of Pretax Income
Net Earnings $51.51M -$13.60M
YoY Change -478.8% -115.12%
Net Earnings / Revenue 12.61% -4.43%
Basic Earnings Per Share $0.09 -$0.03
Diluted Earnings Per Share $0.09 -$0.03
COMMON SHARES
Basic Shares Outstanding 538.3M shares 478.7M shares
Diluted Shares Outstanding 538.5M shares 478.7M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $731.0M $131.0M
YoY Change 458.02% 43.96%
Cash & Equivalents $672.1M $130.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $73.00M $54.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $804.0M $185.0M
YoY Change 334.59% -84.96%
LONG-TERM ASSETS
Property, Plant & Equipment $12.98B $11.41B
YoY Change 13.81% 14.5%
Goodwill
YoY Change
Intangibles $537.6M $318.0M
YoY Change 69.06% 8.13%
Long-Term Investments $460.0M $518.0M
YoY Change -11.2% -17.65%
Other Assets $484.0M $187.0M
YoY Change 158.82% 503.23%
Total Long-Term Assets $15.51B $13.53B
YoY Change 14.67% 10.69%
TOTAL ASSETS
Total Short-Term Assets $804.0M $185.0M
Total Long-Term Assets $15.51B $13.53B
Total Assets $16.32B $13.71B
YoY Change 18.98% 1.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $847.0M $371.0M
YoY Change 128.3% -7.02%
Accrued Expenses $177.0M $155.0M
YoY Change 14.19% 147.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.000M $1.000M
YoY Change 300.0% -50.0%
Total Short-Term Liabilities $1.028B $527.0M
YoY Change 95.07% 31.42%
LONG-TERM LIABILITIES
Long-Term Debt $6.725B $6.289B
YoY Change 6.93% -15.02%
Other Long-Term Liabilities $895.0M $277.0M
YoY Change 223.1% 18.88%
Total Long-Term Liabilities $7.620B $6.566B
YoY Change 16.05% -13.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.028B $527.0M
Total Long-Term Liabilities $7.620B $6.566B
Total Liabilities $8.648B $7.094B
YoY Change 21.9% -11.71%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $538.3M $491.1M
YoY Change 9.61% 4.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.099B $6.054B
YoY Change
Total Liabilities & Shareholders Equity $16.32B $13.71B
YoY Change 18.98% 1.95%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $51.51M -$13.60M
YoY Change -478.8% -115.12%
Depreciation, Depletion And Amortization $178.5M $165.2M
YoY Change 8.05% 15.36%
Cash From Operating Activities $224.8M $222.0M
YoY Change 1.26% -8.83%
INVESTING ACTIVITIES
Capital Expenditures -$462.8M -$917.0M
YoY Change -49.53% 683.09%
Acquisitions
YoY Change
Other Investing Activities $78.50M -$11.60M
YoY Change -776.72% -101.94%
Cash From Investing Activities -$384.3M -$928.7M
YoY Change -58.62% -293.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 106.2M 716.2M
YoY Change -85.17% -199.4%
NET CHANGE
Cash From Operating Activities 224.8M 222.0M
Cash From Investing Activities -384.3M -928.7M
Cash From Financing Activities 106.2M 716.2M
Net Change In Cash -53.30M 9.500M
YoY Change -661.05% 131.71%
FREE CASH FLOW
Cash From Operating Activities $224.8M $222.0M
Capital Expenditures -$462.8M -$917.0M
Free Cash Flow $687.6M $1.139B
YoY Change -39.63% 215.86%

Facts In Submission

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CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
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1800000 USD
hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
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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 Earnings Per Share Diluted
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Profit Loss
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us-gaap Profit Loss
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101000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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489000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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195000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2019Q2 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 Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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5826000 USD
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CY2020Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2020Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q2 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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CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2019Q2 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
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
3543000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
3617000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2019Q2 us-gaap Comprehensive Income Net Of Tax
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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CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q2 us-gaap Profit Loss
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CY2020Q2 us-gaap Stock Issued During Period Value New Issues
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CY2020Q2 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
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CY2019Q2 us-gaap Profit Loss
ProfitLoss
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CY2019Q2 us-gaap Stock Issued During Period Value New Issues
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us-gaap Dividends Common Stock
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CY2019Q2 us-gaap Dividends Common Stock
DividendsCommonStock
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NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
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CY2019Q2 us-gaap Minority Interest Decrease From Redemptions
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
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us-gaap Stock Issued During Period Value New Issues
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StockIssuedDuringPeriodValueConversionOfUnits
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us-gaap Stock Repurchased During Period Value
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us-gaap Dividends Common Stock
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
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us-gaap Stock Issued During Period Value New Issues
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StockIssuedDuringPeriodValueConversionOfUnits
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us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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MinorityInterestDecreaseFromRedemptions
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
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us-gaap Depreciation And Amortization
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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AmortizationOfFinancingCostsAndDiscounts
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us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5440000 USD
us-gaap Straight Line Rent
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us-gaap Straight Line Rent
StraightLineRent
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hcp Amortization Of Nonrefundable Entrance Fees And Above Below Market Lease Intangibles Net
AmortizationOfNonrefundableEntranceFeesAndAboveBelowMarketLeaseIntangiblesNet
0 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
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IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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hcp Gain Loss On Sale Of Real Estate Under Direct Financing Lease
GainLossOnSaleOfRealEstateUnderDirectFinancingLease
41670000 USD
hcp Gain Loss On Sale Of Real Estate Under Direct Financing Lease
GainLossOnSaleOfRealEstateUnderDirectFinancingLease
0 USD
us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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AssetImpairmentCharges
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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GainsLossesOnExtinguishmentOfDebt
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247732000 USD
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GainLossOnSaleOfInvestments
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hcp Gain Loss From Change Of Control
GainLossFromChangeOfControl
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hcp Gain Loss From Change Of Control
GainLossFromChangeOfControl
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us-gaap Insured Event Gain Loss
InsuredEventGainLoss
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us-gaap Insured Event Gain Loss
InsuredEventGainLoss
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OtherNoncashIncomeExpense
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OtherNoncashIncomeExpense
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IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
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us-gaap Payments To Acquire Other Real Estate
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us-gaap Payments To Develop Real Estate Assets
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us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
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40572000 USD
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38733000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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us-gaap Payments To Acquire Commercial Real Estate
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390599000 USD
us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
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us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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hcp Distributions In Excess Of Earnings From Unconsolidated Joint Ventures
DistributionsInExcessOfEarningsFromUnconsolidatedJointVentures
3251000 USD
hcp Distributions In Excess Of Earnings From Unconsolidated Joint Ventures
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11612000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
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0 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
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hcp Paymentsto Acquire Loans Receivable Direct Financing Leasesand Other
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71961000 USD
hcp Paymentsto Acquire Loans Receivable Direct Financing Leasesand Other
PaymentstoAcquireLoansReceivableDirectFinancingLeasesandOther
60680000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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ProceedsFromLinesOfCredit
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RepaymentsOfLinesOfCredit
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
890000000 USD
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
594750000 USD
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
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RepaymentsOfBankDebt
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us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
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ProceedsFromNotesPayable
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
250000000 USD
us-gaap Payments Of Debt Extinguishment Costs
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PaymentsOfDebtExtinguishmentCosts
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us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Payments For Repurchase Of Common Stock
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PaymentsForRepurchaseOfCommonStock
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PaymentsOfDividends
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us-gaap Payments Of Dividends
PaymentsOfDividends
354550000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
3615000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
651984000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16206000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184657000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
139846000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
836641000 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><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Healthpeak Properties, 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, “Healthpeak” or the “Company”), invests primarily in real estate serving the healthcare industry in the United States (“U.S.”). Healthpeak</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">TM</sup></span><span style="font-family:inherit;font-size:10pt;"> 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) continuing care retirement community (“CCRC”); (iv) life science; and (v) medical office. </span></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;">COVID-19 Update</span></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2020, the World Health Organization declared the outbreak caused by the coronavirus (“COVID-19”) to be a global pandemic. While COVID-19 continues to evolve daily and its ultimate outcome is uncertain, it has caused significant disruption to individuals, governments, financial markets, and businesses, including the Company. Global health concerns and increased efforts to reduce the spread of the COVID-19 pandemic have prompted federal, state, and local governments to restrict normal daily activities, and have resulted in travel bans, quarantines, school closings, “shelter-in-place” orders requiring individuals to remain in their homes other than to conduct essential services or activities, as well as business limitations and shutdowns, which resulted in closure of many businesses deemed to be non-essential. In addition, the Company’s tenants, operators and borrowers are facing significant cost increases as a result of increased health and safety measures, including increased staffing demands for patient care and sanitation, as well as increased usage and inventory of critical medical supplies and personal protective equipment. These health and safety measures, which may remain in place for a significant amount of time, continue to place a substantial strain on the business operations of many of the Company’s tenants, operators, and borrowers. The Company evaluated the impacts of COVID-19 on its business thus far and incorporated information concerning the impact of COVID-19 into its assessments of liquidity, impairments, and collectibility from tenants, residents, and borrowers as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">. The Company will continue to monitor such impacts and will adjust its estimates and assumptions based on the best available information.</span></div>
CY2020Q2 hcp Commitments Developmentand Redevelopment Projects
CommitmentsDevelopmentandRedevelopmentProjects
344000000 USD
CY2018Q1 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
63000000 USD
hcp Commitments Developmentand Redevelopment Projects Amount Increase Decrease
CommitmentsDevelopmentandRedevelopmentProjectsAmountIncreaseDecrease
-17000000 USD
hcp Government Grant Income
GovernmentGrantIncome
15000000 USD
CY2020Q2 hcp Government Grant Income From Cares Act
GovernmentGrantIncomeFromCARESAct
14000000 USD
CY2020Q2 hcp Real Estate Revenues From Joint Venture Government Grant Income
RealEstateRevenuesFromJointVentureGovernmentGrantIncome
1000000 USD
CY2020Q2 hcp Lease Capital Commitment
LeaseCapitalCommitment
3000000 USD
CY2017Q4 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
32000000 USD
CY2019Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
11000000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
19000000 USD
CY2019Q2 us-gaap Insured Event Gain Loss
InsuredEventGainLoss
6000000 USD
CY2019Q2 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
300000 USD
CY2019Q4 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
84604000 USD
CY2020Q2 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
14105000 USD
CY2019Q4 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
19138000 USD
CY2020Q2 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
44706000 USD
CY2020Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
253911000 USD
CY2019Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
237607000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
507770000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
474830000 USD
CY2020Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
58452000 USD
CY2019Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
63590000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
119281000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
120589000 USD
CY2020Q2 us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
2150000 USD
CY2019Q2 us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
10190000 USD
us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
5419000 USD
us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
23714000 USD
CY2020Q2 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
14105000 USD
CY2019Q4 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
19138000 USD
CY2020Q2 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
44706000 USD
CY2019Q4 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
84604000 USD
CY2020Q2 hcp Properties With Direct Financing Leases Number
PropertiesWithDirectFinancingLeasesNumber
1 property
CY2019Q4 hcp Properties With Direct Financing Leases Number
PropertiesWithDirectFinancingLeasesNumber
2 property
CY2020Q2 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
44706000 USD
CY2020Q2 hcp Net Investment In Direct Financing And Sales Type Leases As Percentage
NetInvestmentInDirectFinancingAndSalesTypeLeasesAsPercentage
1
CY2020Q1 us-gaap Proceeds From Sale Of Lease Receivables
ProceedsFromSaleOfLeaseReceivables
82000000 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
42000000 USD
CY2020Q2 us-gaap Contract With Customer Receivable Credit Loss Expense Reversal
ContractWithCustomerReceivableCreditLossExpenseReversal
5000000 USD
us-gaap Contract With Customer Receivable Credit Loss Expense Reversal
ContractWithCustomerReceivableCreditLossExpenseReversal
13000000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
308417000 USD
CY2019Q2 us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
6000000 USD
us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
12000000 USD
CY2019Q2 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
6000000 USD
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
11000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
23962000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4084000 USD
CY2020Q2 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
722000 USD
CY2019Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
863000 USD
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14115000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0 USD
CY2020Q2 us-gaap Notes Receivable Net
NotesReceivableNet
253774000 USD
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
190579000 USD
CY2020Q2 hcp Loansand Leases Receivable Remaining Commitments
LoansandLeasesReceivableRemainingCommitments
9000000 USD
us-gaap Loans And Leases Receivable Commitments Fixed Rates
LoansAndLeasesReceivableCommitmentsFixedRates
174000000 USD
CY2019Q4 hcp Loansand Leases Receivable Remaining Commitments
LoansandLeasesReceivableRemainingCommitments
25000000 USD
CY2019 us-gaap Loans And Leases Receivable Commitments Fixed Rates
LoansAndLeasesReceivableCommitmentsFixedRates
174000000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0 USD
us-gaap Financing Receivable Allowance For Credit Losses Effect Of Change In Method
FinancingReceivableAllowanceForCreditLossesEffectOfChangeInMethod
1420000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
51131000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
12695000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13991000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
328786000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
47036000 USD
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14115000 USD
CY2020Q2 hcp Financing Receivable Allowance For Credit Loss Unfunded Loan Commitments
FinancingReceivableAllowanceForCreditLossUnfundedLoanCommitments
1000000 USD
CY2020Q2 us-gaap Advances To Affiliate
AdvancesToAffiliate
0 USD
CY2019Q4 us-gaap Advances To Affiliate
AdvancesToAffiliate
76000 USD
CY2020Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
460386000 USD
CY2019Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
825515000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
788731000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
615538000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
251176000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
283845000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
537555000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
331693000 USD
CY2020Q2 hcp Finite Lived Intangible Liabilities Gross
FiniteLivedIntangibleLiabilitiesGross
154378000 USD
CY2019Q4 hcp Finite Lived Intangible Liabilities Gross
FiniteLivedIntangibleLiabilitiesGross
113213000 USD
CY2020Q2 hcp Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
43646000 USD
CY2019Q4 hcp Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
38222000 USD
CY2020Q2 hcp Finite Lived Intangible Liabilities Net
FiniteLivedIntangibleLiabilitiesNet
110732000 USD
CY2019Q4 hcp Finite Lived Intangible Liabilities Net
FiniteLivedIntangibleLiabilitiesNet
74991000 USD
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
295000000 USD
hcp Intangible Liabilities Acquired
IntangibleLiabilitiesAcquired
42000000 USD
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P7Y
hcp Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P10Y
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
4205000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
16165000 USD
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
393609000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
538262000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
478739000 shares
CY2019Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-13597000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
330586000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
47873000 USD
CY2020Q2 hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
375000 USD
CY2019Q2 hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
394000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
522427000 shares
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1406939000 USD
CY2020Q2 hcp Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
4640925000 USD
CY2020Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
6770260000 USD
CY2020Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
41473000 USD
CY2020Q2 hcp Long Term Debt Excluding Disposal Group
LongTermDebtExcludingDisposalGroup
6728787000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
6756432000 USD
CY2020Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2020Q2 hcp Third Party Debt Collateralized By Facilities Debt Amount
ThirdPartyDebtCollateralizedByFacilitiesDebtAmount
60000000 USD
CY2020Q2 hcp Third Party Debt Collateralized By Facilities Asset Carrying Amount
ThirdPartyDebtCollateralizedByFacilitiesAssetCarryingAmount
325000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1060000000.00 USD
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
0 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-1023000 USD
CY2020Q2 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
780000 USD
CY2019Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
1314000 USD
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
2966000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
3148000 USD
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2186000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2857000 USD
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
800000 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
1300000 shares
CY2020Q2 us-gaap Profit Loss
ProfitLoss
55049000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
-9980000 USD
us-gaap Profit Loss
ProfitLoss
337589000 USD
us-gaap Profit Loss
ProfitLoss
55010000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
3543000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
3617000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
7003000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
7137000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
51506000 USD
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
1344000 shares
hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
1800000 USD
hcp Participating Securities Distributed And Undistributed Earnings Loss Basic And Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasicAndDiluted
837000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
478260000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
255000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
263000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
281000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
538517000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
478739000 shares
CY2020Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-25824000 USD
CY2020Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
808000 shares
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
19586000 USD
CY2020Q2 hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
3068000 USD
CY2020Q2 us-gaap Interest Income Operating
InterestIncomeOperating
4230000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
57550000 USD
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
178488000 USD
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
23720000 USD
CY2020Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
627000 USD
CY2020Q2 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
24050000 USD
CY2020Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
82863000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
523498000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
479885000 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
hcp Incremental Common Shares Attributable To Dilutive Effect Of Equity Awards
IncrementalCommonSharesAttributableToDilutiveEffectOfEquityAwards
1000000 shares
hcp Incremental Common Shares Attributableto Dilutive Effectof Equity Forward Agreements Settled
IncrementalCommonSharesAttributabletoDilutiveEffectofEquityForwardAgreementsSettled
32000000 shares
hcp Incremental Common Shares Attributableto Dilutive Effectof Equity Forward Agreements Settled
IncrementalCommonSharesAttributabletoDilutiveEffectofEquityForwardAgreementsSettled
7000000 shares
hcp Incremental Common Shares Attributableto Dilutive Effectof Equity Forward Agreements Not Yet Settled
IncrementalCommonSharesAttributabletoDilutiveEffectofEquityForwardAgreementsNotYetSettled
22000000 shares
CY2020Q2 us-gaap Revenues
Revenues
588440000 USD
CY2020Q2 hcp Government Grant Income From Cares Act
GovernmentGrantIncomeFromCARESAct
14080000 USD
CY2020Q2 hcp Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
4230000 USD
CY2020Q2 hcp Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
30156000 USD
CY2020Q2 hcp Real Estate Revenues From Joint Venture Government Grant Income
RealEstateRevenuesFromJointVentureGovernmentGrantIncome
804000 USD
CY2020Q2 hcp Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
8908000 USD
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
315841000 USD
CY2020Q2 hcp Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
23788000 USD
CY2020Q2 hcp Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
2936000 USD
CY2020Q2 hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
-3068000 USD
CY2020Q2 hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
280581000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7346000 USD
CY2019Q2 hcp Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
64948000 USD
CY2020Q2 hcp Interest Income Excluded From Adjusted Government Grant Income From Continuing Operations
InterestIncomeExcludedFromAdjustedGovernmentGrantIncomeFromContinuingOperations
-14080000 USD
CY2020Q2 hcp Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-7172000 USD
CY2020Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-5972000 USD
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-17086000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
55049000 USD
CY2019Q2 us-gaap Revenues
Revenues
491567000 USD
CY2019Q2 hcp Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
2414000 USD
CY2019Q2 hcp Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
8945000 USD
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
213993000 USD
CY2019Q2 hcp Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
47180000 USD
CY2019Q2 hcp Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
2829000 USD
CY2019Q2 hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
1418000 USD
CY2019Q2 hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
288230000 USD
CY2019Q2 hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
-1418000 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 hcp Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-17768000 USD
CY2019Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-6116000 USD
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1506000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
-9980000 USD
us-gaap Revenues
Revenues
1173590000 USD
hcp Government Grant Income From Cares Act
GovernmentGrantIncomeFromCARESAct
14080000 USD
hcp Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
7918000 USD
hcp Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
78349000 USD
hcp Real Estate Revenues From Joint Venture Government Grant Income
RealEstateRevenuesFromJointVentureGovernmentGrantIncome
-804000 USD
hcp Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
18138000 USD
us-gaap Operating Expenses
OperatingExpenses
691854000 USD
hcp Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
60054000 USD
hcp Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
5930000 USD
hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
80374000 USD
hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
575163000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-40390000 USD
hcp Interest Income Excluded From Adjusted Government Grant Income From Continuing Operations
InterestIncomeExcludedFromAdjustedGovernmentGrantIncomeFromContinuingOperations
-14080000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-29065000 USD
us-gaap Profit Loss
ProfitLoss
337589000 USD
hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
-80374000 USD
us-gaap Interest Income Operating
InterestIncomeOperating
7918000 USD
us-gaap Interest Expense
InterestExpense
115926000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
367764000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
46069000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
15475000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
63173000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
247732000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-24991000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
230194000 USD
hcp Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-19099000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-12208000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges
52000000 USD
hcp Effective Income Tax Rate Reconciliation Coronavirus Aid Relief And Economic Security Cares Act Amount
EffectiveIncomeTaxRateReconciliationCoronavirusAidReliefAndEconomicSecurityCARESActAmount
3600000 USD
us-gaap Revenues
Revenues
927721000 USD
hcp Interest Income Excluded From Adjusted Net Operating Income From Continuing Operations
InterestIncomeExcludedFromAdjustedNetOperatingIncomeFromContinuingOperations
4127000 USD
hcp Real Estate Revenues From Joint Venture Attributable To Parent
RealEstateRevenuesFromJointVentureAttributableToParent
129072000 USD
hcp Real Estate Revenues From Joint Venture Attributable To Noncontrolling Interest
RealEstateRevenuesFromJointVentureAttributableToNoncontrollingInterest
17762000 USD
us-gaap Operating Expenses
OperatingExpenses
382920000 USD
hcp Operating Expenses From Joint Venture Attributable To Parent Net
OperatingExpensesFromJointVentureAttributableToParentNet
93010000 USD
hcp Operating Expenses From Joint Venture Attributable To Noncontrolling Interest
OperatingExpensesFromJointVentureAttributableToNoncontrollingInterest
5616000 USD
hcp Non Cash Adjustments To Net Operating Income From Continuing Operations
NonCashAdjustmentsToNetOperatingIncomeFromContinuingOperations
2112000 USD
hcp Adjusted Net Operating Income From Continuing Operations
AdjustedNetOperatingIncomeFromContinuingOperations
566702000 USD
hcp Reconciliation Of Operating Profit Loss From Segments To Consolidated Non Cash Adjustments
ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedNonCashAdjustments
-2112000 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
hcp Net Income Loss Joint Venture Partners Attributable To Parent
NetIncomeLossJointVenturePartnersAttributableToParent
-36062000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-12146000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2369000 USD
us-gaap Profit Loss
ProfitLoss
55010000 USD
hcp Seller Financing Provided On Dispositionof Real Estate Asset
SellerFinancingProvidedOnDispositionofRealEstateAsset
12480000 USD
hcp Seller Financing Provided On Dispositionof Real Estate Asset
SellerFinancingProvidedOnDispositionofRealEstateAsset
0 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
104370000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
99934000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
164000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1171000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
13680000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
15413000 USD
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
117895000 USD
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
102307000 USD
hcp Restricted Stock Vested
RestrictedStockVested
4703000 USD
hcp Restricted Stock Vested
RestrictedStockVested
4498000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
523289000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
59778000 USD
hcp Conversion Of Direct Finance Leases To Real Estate
ConversionOfDirectFinanceLeasesToRealEstate
0 USD
hcp Conversion Of Direct Finance Leases To Real Estate
ConversionOfDirectFinanceLeasesToRealEstate
350540000 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
323138000 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
17850000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
730957000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
130521000 USD
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
105684000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25531000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
836641000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156052000 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, 2020</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, 2019</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;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,992,626</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</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>3,236,105</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>96,090</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>67,285</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>447,759</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>526,576</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>(623,212</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>(568,574</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>2,913,263</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>3,261,392</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 receivable, 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>9,937</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>11,986</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;">Cash and cash equivalents</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>41,590</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>47,027</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;">Restricted cash</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>14,168</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>13,596</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;">Intangible assets, 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>143,965</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>206,840</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;">Right-of-use asset, 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>91,834</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>92,664</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;">Other assets, 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>57,030</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>52,124</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 assets</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;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,271,787</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</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>3,685,629</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><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;">Liabilities</span></div></td><td colspan="3" 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 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;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;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;">Mortgage debt</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>217,310</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>218,767</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;">Intangible liabilities, 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>18,289</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>39,545</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;">Lease liability</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>91,332</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>90,875</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 payable, accrued liabilities, and other liabilities</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>108,103</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>122,832</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;">Deferred revenue</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>91,113</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>96,985</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 liabilities </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;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>526,147</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</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>569,004</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></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div>

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