Healthpeak Properties (DOC) 10-Q 4 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 25, 2013
Document and Entity Information	'	'
Entity Registrant Name	'HCP, INC.	'
Entity Central Index Key	'0000765880	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	456,271,507
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified
Real estate:	'		'
Buildings and improvements	$10,530,094		$10,330,668
Development costs and construction in progress	247,268		236,864
Land	1,841,333		1,833,607
Accumulated depreciation and amortization	-1,918,842		-1,661,572
Net real estate	10,699,853		10,739,567
Net investment in direct financing leases	6,993,352		6,881,393
Loans receivable, net	390,803		276,030
Investments in and advances to unconsolidated joint ventures	206,004		212,213
Accounts receivable, net of allowance of $1,843 and $1,668, respectively	27,343		34,150
Cash and cash equivalents	49,414		247,673
Restricted cash	48,224		37,848
Intangible assets, net	507,754		552,540
Real estate and intangible assets held for sale, net	130,765		145,621
Other assets, net	835,997		788,520
Total assets	19,889,509	[1]	19,915,555	[1]
LIABILITIES AND EQUITY	'		'
Bank line of credit	285,000		'
Term loan	221,748		222,694
Senior unsecured notes	6,565,934		6,712,624
Mortgage debt	1,410,407		1,676,544
Intangible liabilities on assets held for sale	'		1,729
Other debt	77,503		81,958
Intangible liabilities, net	103,059		104,180
Accounts payable and accrued liabilities	303,966		293,994
Deferred revenue	71,655		68,055
Total liabilities	9,039,272	[2]	9,161,778	[2]
Commitments and contingencies	'		'
Common stock, $1.00 par value: 750,000,000 shares authorized; 455,873,953 and 453,191,321 shares issued and outstanding, respectively	455,874		453,191
Additional paid-in capital	11,306,717		11,180,066
Cumulative dividends in excess of earnings	-1,106,494		-1,067,367
Accumulated other comprehensive loss	-15,879		-14,653
Total stockholders' equity	10,640,218		10,551,237
Joint venture partners	25,228		14,752
Non-managing member unitholders	184,791		187,788
Total noncontrolling interests	210,019		202,540
Total equity	10,850,237		10,753,777
Total liabilities and equity	$19,889,509		$19,915,555
[1]	The Company's consolidated total assets at September 30, 2013 and December 31, 2012, include assets of certain variable interest entities ("VIEs") that can only be used to settle the liabilities of those VIEs. At September 30, 2013: $1.5 million, other assets, net. At December 31, 2012: accounts receivable, net, $2 million; cash and cash equivalents, $10 million; and other assets, net, $2 million, respectively. See Note 16 to the Condensed Consolidated Financial Statements for additional information.
[2]	The Company's consolidated total liabilities at September 30, 2013 and December 31, 2012, include liabilities of certain VIEs for which the VIE creditors do not have recourse to HCP, Inc. At September 30, 2013: $9.8 million, accounts payable and accrued liabilities. At December 31, 2012: other debt, $0.2 million; accounts payable and accrued liabilities, $14 million; and deferred revenue, $2 million. See Note 16 to the Condensed Consolidated Financial Statements for additional information.

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
Accounts receivable, net	$27,343	$34,150
Cash and cash equivalents	49,414	247,673
Other assets, net	835,997	788,520
Other debt	77,503	81,958
Accounts payable and accrued liabilities	303,966	293,994
Deferred revenue	71,655	68,055
Accounts receivable, allowance (in dollars)	1,843	1,668
Common stock, par value (in dollars per share)	$1	$1
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	455,873,953	453,191,321
Common stock, shares outstanding	455,873,953	453,191,321
VIEs	'	'
Accounts receivable, net	'	2,000
Cash and cash equivalents	'	10,000
Other assets, net	2,000	2,000
Other debt	'	200
Accounts payable and accrued liabilities	10,000	14,000
Deferred revenue	'	$2,000

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'	'	'
Rental and related revenues	$280,588	$241,993	$833,461	$714,438
Tenant recoveries	25,986	23,425	75,335	69,656
Resident fees and services	37,589	36,076	112,070	107,824
Income from direct financing leases	157,253	155,834	472,409	465,345
Interest income	42,078	10,278	68,611	12,313
Investment management fee income	464	460	1,406	1,423
Total revenues	543,958	468,066	1,563,292	1,370,999
Costs and expenses:	'	'	'	'
Interest expense	108,088	103,355	326,094	309,399
Depreciation and amortization	104,859	87,170	317,430	254,463
Operating	76,569	72,653	224,982	210,034
General and administrative	45,423	19,415	90,080	54,299
Impairments	'	7,878	'	7,878
Total costs and expenses	334,939	290,471	958,586	836,073
Other income, net	1,584	770	16,887	2,232
Income before income taxes and equity income from unconsolidated joint ventures	210,603	178,365	621,593	537,158
Income taxes	-1,033	602	-3,563	1,145
Equity income from unconsolidated joint ventures	13,892	13,396	44,278	42,803
Income from continuing operations	223,462	192,363	662,308	581,106
Discontinued operations:	'	'	'	'
Income before gain on sales of real estate	5,098	6,680	15,874	16,620
Gain on sales of real estate	8,298	'	9,185	2,856
Total discontinued operations	13,396	6,680	25,059	19,476
Net income	236,858	199,043	687,367	600,582
Noncontrolling interests' share in earnings	-3,102	-2,935	-9,625	-9,070
Net income attributable to HCP, Inc.	233,756	196,108	677,742	591,512
Preferred stock dividends	'	'	'	-17,006
Participating securities' share in earnings	-474	-479	-1,330	-2,154
Net income applicable to common shares	$233,282	$195,629	$676,412	$572,352
Basic earnings per common share:	'	'	'	'
Continuing operations (in dollars per share)	$0.48	$0.44	$1.43	$1.32
Discontinued operations (in dollars per share)	$0.03	$0.02	$0.06	$0.04
Net income applicable to common shares (in dollars per share)	$0.51	$0.46	$1.49	$1.36
Diluted earnings per common share:	'	'	'	'
Continuing operations (in dollars per share)	$0.48	$0.44	$1.43	$1.32
Discontinued operations (in dollars per share)	$0.03	$0.01	$0.06	$0.04
Net income applicable to common shares (in dollars per share)	$0.51	$0.45	$1.49	$1.36
Weighted average shares used to calculate earnings per common share:	'	'	'	'
Basic (in shares)	455,345	429,557	454,553	420,049
Diluted (in shares)	456,078	430,778	455,388	421,404
Dividends declared per common share (in dollars per share)	$0.53	$0.50	$1.57	$1.50

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	'	'	'	'
Net income	$236,858	$199,043	$687,367	$600,582
Change in net unrealized gains on securities:	'	'	'	'
Unrealized gains	'	5,374	1,355	5,716
Reclassification adjustment realized in net income	'	'	-9,131	'
Change in net unrealized gains (losses) on cash flow hedges:	'	'	'	'
Unrealized gains (losses)	-3,710	-2,734	5,635	-3,513
Reclassification adjustment realized in net income	191	129	751	308
Change in Supplemental Executive Retirement Plan obligation	56	46	167	136
Foreign currency translation adjustment	-56	243	-3	289
Total other comprehensive income (loss)	-3,519	3,058	-1,226	2,936
Total comprehensive income	233,339	202,101	686,141	603,518
Total comprehensive income attributable to noncontrolling interests	-3,102	-2,935	-9,625	-9,070
Total comprehensive income attributable to HCP, Inc.	$230,237	$199,166	$676,516	$594,448

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Total	Total Stockholders' Equity	Preferred Stock	Common Stock	Additional Paid-In Capital	Cumulative Dividends In Excess Of Earnings	Accumulated Other Comprehensive Income (Loss)	Total Noncontrolling Interests
In Thousands, unless otherwise specified
Balance at Dec. 31, 2011	$9,220,622	$9,033,482	$285,173	$408,629	$9,383,536	($1,024,274)	($19,582)	$187,140
Balance (in shares) at Dec. 31, 2011	'	'	11,820	408,629	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'
Net income	600,582	591,512	'	'	'	591,512	'	9,070
Other comprehensive income (loss)	2,936	2,936	'	'	'	'	2,936	'
Preferred stock redemption	-295,500	-295,500	-285,173	'	'	-10,327	'	'
Preferred stock redemption (in shares)	'	'	-11,820	'	'	'	'	'
Issuance of common stock, net	761,070	763,508	'	19,096	744,412	'	'	-2,438
Issuance of common stock, net (in shares)	'	'	'	19,096	'	'	'	'
Repurchase of common stock	-8,167	-8,167	'	-196	-7,971	'	'	'
Repurchase of common stock (in shares)	'	'	'	-196	'	'	'	'
Exercise of stock options	51,509	51,509	'	2,451	49,058	'	'	'
Exercise of stock options (in shares)	2,451	'	'	2,451	'	'	'	'
Amortization of deferred compensation	16,947	16,947	'	'	16,947	'	'	'
Preferred dividends	-6,679	-6,679	'	'	'	-6,679	'	'
Common dividends ($1.575 and $1.50 per share for the period ended September 30, 2013 and 2012, respectively)	-631,549	-631,549	'	'	'	-631,549	'	'
Distributions to noncontrolling interests	-11,759	'	'	'	'	'	'	-11,759
Noncontrolling interests in acquisitions	27,432	'	'	'	'	'	'	27,432
Issuance of noncontrolling interests	826	'	'	'	'	'	'	826
Purchase of noncontrolling interests	-417	'	'	'	'	'	'	-417
Balance at Sep. 30, 2012	9,727,853	9,517,999	'	429,980	10,185,982	-1,081,317	-16,646	209,854
Balance (in shares) at Sep. 30, 2012	'	'	'	429,980	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'
Issuance of common stock, net	'	'	'	979,000	'	'	'	'
Issuance of common stock, net (in shares)	'	'	'	22,000	'	'	'	'
Balance at Oct. 31, 2012	'	'	'	'	'	'	'	'
Balance at Dec. 31, 2012	10,753,777	10,551,237	'	453,191	11,180,066	-1,067,367	-14,653	202,540
Balance (in shares) at Dec. 31, 2012	'	'	'	453,191	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'
Net income	687,367	677,742	'	'	'	677,742	'	9,625
Other comprehensive income (loss)	-1,226	-1,226	'	'	'	'	-1,226	'
Issuance of common stock, net	77,509	80,506	'	1,859	78,647	'	'	-2,997
Issuance of common stock, net (in shares)	'	'	'	1,859	'	'	'	'
Repurchase of common stock	-2,502	-2,502	'	-51	-2,451	'	'	'
Repurchase of common stock (in shares)	'	'	'	-51	'	'	'	'
Exercise of stock options	17,497	17,497	'	875	16,622	'	'	'
Exercise of stock options (in shares)	875	'	'	875	'	'	'	'
Amortization of deferred compensation	33,833	33,833	'	'	33,833	'	'	'
Common dividends ($1.575 and $1.50 per share for the period ended September 30, 2013 and 2012, respectively)	-716,869	-716,869	'	'	'	-716,869	'	'
Distributions to noncontrolling interests	-11,536	'	'	'	'	'	'	-11,536
Issuance of noncontrolling interests	12,387	'	'	'	'	'	'	12,387
Balance at Sep. 30, 2013	$10,850,237	$10,640,218	'	$455,874	$11,306,717	($1,106,494)	($15,879)	$210,019
Balance (in shares) at Sep. 30, 2013	'	'	'	455,874	'	'	'	'

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	0 Months Ended				3 Months Ended		9 Months Ended
	Oct. 24, 2013	Jul. 25, 2013	Apr. 25, 2013	Jan. 24, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY	'	'	'	'	'	'	'	'
Common dividends, per share (in dollars per share)	$0.53	$0.53	$0.53	$0.53	$0.53	$0.50	$1.57	$1.50

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net income	$687,367	$600,582
Depreciation and amortization of real estate, in-place lease and other intangibles:	'	'
Continuing operations	317,430	254,463
Discontinued operations	4,346	11,876
Amortization of above and below market lease intangibles, net	-6,414	-1,855
Amortization of deferred compensation	33,833	16,947
Amortization of deferred financing costs, net	13,922	12,415
Straight-line rents	-28,559	-33,608
Loan and direct financing lease interest accretion	-65,296	-71,923
Deferred rental revenues	73	1,101
Equity income from unconsolidated joint ventures	-44,278	-42,803
Distributions of earnings from unconsolidated joint ventures	2,724	2,775
Gain on sales of real estate	-9,185	-2,856
Gain on sales of marketable securities, net	-11,350	'
Foreign currency and derivative losses, net	386	43
Impairments	'	7,878
Changes in:	'	'
Accounts receivable, net	6,389	-5,082
Other assets	-43,939	-7,303
Accounts payable and accrued liabilities	-13,769	-21,697
Net cash provided by operating activities	843,680	720,953
Cash flows from investing activities:	'	'
Acquisitions of real estate	-63,878	-172,380
Development of real estate	-96,914	-87,119
Leasing costs and tenant and capital improvements	-33,964	-42,817
Proceeds from sales of real estate, net	3,777	7,238
Distributions in excess of earnings from unconsolidated joint ventures	1,194	2,051
Purchases of marketable debt securities	-16,706	-214,859
Proceeds from the sale of marketable securities	28,403	'
Principal repayments on loans receivable	231,004	4,660
Investments in loans receivable	-316,494	-145,597
Increase in restricted cash	-10,376	-1,875
Net cash used in investing activities	-273,954	-650,698
Cash flows from financing activities:	'	'
Net borrowings (repayments) under bank line of credit	283,082	-454,000
Borrowings under term loan	'	214,789
Issuance of senior unsecured notes	'	750,000
Repayments of senior unsecured notes	-150,000	-250,000
Repayments of mortgage debt	-285,005	-109,569
Issuance of mortgage and other debt	6,798	'
Deferred financing costs	'	-18,256
Preferred stock redemption	'	-295,500
Net proceeds from the issuance of common stock and exercise of options	92,504	804,412
Dividends paid on common and preferred stock	-716,869	-638,228
Issuance of noncontrolling interests	12,387	826
Distributions to noncontrolling interests	-11,536	-11,759
Net cash used in financing activities	-768,639	-7,285
Effect of foreign exchange on cash and cash equivalents	654	'
Net increase (decrease) in cash and cash equivalents	-198,259	62,970
Cash and cash equivalents, beginning of period	247,673	33,506
Cash and cash equivalents, end of period	$49,414	$96,476

Business

Business	9 Months Ended
	Sep. 30, 2013
Business	'
Business	'
	(1)         Business
	HCP, Inc., an S&P 500 company, 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 is a Maryland corporation and was organized to qualify as a self-administered real estate investment trust (“REIT”) in 1985. The Company is headquartered in Long Beach, California, with offices in Nashville, Tennessee and San Francisco, California. The Company acquires, develops, leases, manages and disposes of healthcare real estate, and provides financing to healthcare providers. The Company’s portfolio is comprised of investments in the following five healthcare segments: (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital. The Company makes investments within the healthcare segments using the following five investment products: (i) properties under lease, (ii) debt investments, (iii) developments and redevelopments, (iv) investment management and (v) investments in senior housing operations utilizing the structure permitted by the Housing and Economic Recovery Act of 2008, which is commonly referred to as “RIDEA.”

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies	'
Summary of Significant Accounting Policies	'
	(2)         Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Management is required to make estimates and assumptions in the preparation of financial statements in conformity with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from management’s estimates.
	The condensed consolidated financial statements include the accounts of HCP, Inc., its wholly-owned subsidiaries and joint ventures or variable interest entities (“VIEs”) that it controls through voting rights or other means. Intercompany transactions and balances have been eliminated upon consolidation. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the Company’s financial position, results of operations and cash flows have been included. Operating results for the nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. The accompanying unaudited interim financial information should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2012 included in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”).
	Certain amounts in the Company’s condensed consolidated financial statements have been reclassified for prior periods to conform to the current period presentation. Assets sold or held for sale and associated liabilities have been reclassified on the condensed consolidated balance sheets and the related operating results reclassified from continuing to discontinued operations on the condensed consolidated statements of income (see Note 4).
	Acquisition Costs
	Transaction costs related to acquisitions of businesses, including properties, are expensed as incurred.
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-10”). This update permits the Fed Funds Effective Swap Rate (“OIS”) to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the interest rates on direct Treasury obligations of the U.S. government (“UST”) and the London Interbank Offered Rate (“LIBOR”). The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of ASU 2013-10 on July 17, 2013 did not have a material impact on the Company’s consolidated financial position or results of operations.
	In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The adoption of ASU 2013-02 on January 1, 2013 did not have a material impact on the Company’s consolidated financial position or results of operations.
	In July 2012, the FASB issued Accounting Standards Update No. 2012-01, Continuing Care Retirement Communities—Refundable Advance Fees (“ASU 2012-01”). This update clarifies the situations in which recognition of deferred revenue for refundable advance fees is appropriate. The adoption of ASU 2012-01 on January 1, 2013 did not have a material impact on the Company’s consolidated financial position or results of operations.

Real_Estate_Property_Investmen

Real Estate Property Investments	9 Months Ended
	Sep. 30, 2013
Real Estate Property Investments	'
Real Estate Property Investments	'
	(3)         Real Estate Property Investments
	$1.73 Billion Senior Housing Portfolio Acquisition (the “Blackstone JV Acquisition”)
	During the fourth quarter of 2012 and first quarter of 2013, the Company acquired 133 senior housing communities for $1.73 billion from a joint venture between Emeritus Corporation (“Emeritus”) and Blackstone Real Estate Partners VI, an affiliate of the Blackstone Group (the “Blackstone JV”). Located in 29 states, the portfolio encompasses a diversified care mix of 61% assisted living, 25% independent living, 13% memory care and 1% skilled nursing based on units. Based on operating performance at closing, the 133 communities consisted of 99 that were stabilized and 34 that were in lease-up. The transaction closed in two stages: (i) 129 senior housing facilities during the fourth quarter of 2012 for $1.7 billion; and (ii) four senior housing facilities during the first quarter of 2013 for $38 million. The Company paid $1.73 billion in cash consideration and assumed $13 million of mortgage debt to acquire: (i) real estate with a fair value of $1.57 billion, (ii) intangible assets with a fair value of $174 million; and (iii) assumed intangible liabilities with a fair value of $4 million.
	Emeritus operates the communities pursuant to a new triple-net master lease for 128 properties (the “Master Lease”) and five individual leases, all guaranteed by Emeritus (together, the “Leases”). The Leases provide aggregate contractual rent in the first year of $105.8 million. The contractual rent will increase annually by the greater of the percentage increase in the Consumer Price Index (“CPI”) or 3.7% on average over the initial five years, and thereafter by the greater of CPI or 3.0% for the remaining initial lease term. At the beginning of the sixth lease year, rent on the 34 lease-up properties will increase to the greater of the percentage increase in CPI or fair market, subject to a floor of 103% and a cap of 130% of the prior year’s rent.
	The Master Lease properties are grouped into three pools that share comparable characteristics. The Leases have initial terms of 14 to 16 years. Emeritus has two extension options, which, if exercised, will provide for lease terms of 30 to 35 years.
	Concurrent with the acquisition in 2012, Emeritus purchased nine communities from the Blackstone JV, for which the Company provided secured debt financing of $52 million with a four-year term. The loan is secured by the underlying real estate and is prepayable at Emeritus’ option. The interest rate on the loan was initially 6.1% and will gradually increase during its four year term to 6.8%.
	Pro Forma Results of Operations
	The following unaudited pro forma consolidated results of operations assume that the Blackstone JV Acquisition was completed as of January 1, 2012 (in thousands, except per share amounts):
		Three Months		Nine Months
		Ended		Ended
		September 30, 2012		September 30, 2012
	Revenues	$	494,516	$	1,450,349
	Net income	206,448		622,797
	Net income applicable to HCP, Inc.	203,513		613,727
	Basic earnings per common share	0.45		1.35
	Diluted earnings per common share	0.45		1.34
	Other Real Estate Acquisitions
	In addition to the Blackstone JV Acquisition (discussed above), during the nine months ended September 30, 2013, the Company acquired a senior housing facility for $18 million, exercised its purchase option for a senior housing facility it previously leased for $16 million and acquired 38 acres of land in the post-acute/skilled nursing segment for $0.4 million.
	A summary of real estate acquisitions for the nine months ended September 30, 2012 follows (in thousands):
		Consideration							Assets Acquired
	Segment	Cash Paid		Debt and Other		Noncontrolling			Real Estate		Net
				Liabilities		Interest					Intangibles
				Assumed
	Medical office	$	157,556	$	35,120	$	27,346	-1	$	170,443	$	49,579
	Life science	7,964		—		86			7,580		470
	Senior housing	3,860		—		—			3,541		319
	Hospital	3,000		—		—			3,000		—
		$	172,380	$	35,120	$	27,432		$	184,564	$	50,368
	(1)          Represents non-managing member limited liability company units.
	During the nine months ended September 30, 2013 and 2012, the Company funded an aggregate of $123 million and $126 million, respectively, for construction, tenant and other capital improvement projects, primarily in its senior housing, life science and medical office segments.

Dispositions_of_Real_Estate_an

Dispositions of Real Estate and Discontinued Operations	9 Months Ended
	Sep. 30, 2013
Dispositions of Real Estate and Discontinued Operations	'
Dispositions of Real Estate and Discontinued Operations	'
	(4)   Dispositions of Real Estate and Discontinued Operations
	During the nine months ended September 30, 2013, the Company sold a senior housing facility for $4 million. In addition, in September 2013, the Company sold a 62-bed hospital located in Greenfield, Wisconsin in exchange for a 60-bed hospital located in Webster, Texas and recognized a gain of $8 million based on the fair value of the hospital acquired. During the nine months ended September 30, 2012, the Company sold a medical office building for $7 million.
	At September 30, 2013, four hospitals were classified as held for sale, with a carrying value of $131 million. At December 31, 2012, properties classified as held for sale included a senior housing facility and five hospitals with a combined aggregate carrying value of $146 million.
	The following table summarizes operating loss from discontinued operations and gain on sales of real estate included in discontinued operations (dollars in thousands):
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013		2012
	Rental and related revenues	$	6,460		$	10,260	$	20,458	$	31,023
	Depreciation and amortization expenses	1,433			2,969		4,346		11,876
	Operating expenses	3			18		9		75
	Other income (expense), net	(74		)	593		229		2,452
	Income before gain on sales of real estate	$	5,098		$	6,680	$	15,874	$	16,620
	Gain on sales of real estate, net of income taxes	$	8,298		$	—	$	9,185	$	2,856
	Number of properties included in discontinued operations	5			9		6		10

Net_Investment_in_Direct_Finan

Net Investment in Direct Financing Leases	9 Months Ended
	Sep. 30, 2013
Net Investment in Direct Financing Leases	'
Net Investment in Direct Financing Leases	'
	(5)         Net Investment in Direct Financing Leases
	The components of net investment in direct financing leases (“DFLs”) consisted of the following (dollars in thousands):
		September 30,			December 31,
		2013			2012
	Minimum lease payments receivable(1)	$	24,811,003		$	25,217,520
	Estimated residual values	4,010,514			4,010,514
	Less unearned income	(21,828,165		)	(22,346,641		)
	Net investment in direct financing leases	$	6,993,352		$	6,881,393
	Properties subject to direct financing leases	361			361
	(1)          The minimum lease payments receivable are primarily attributable to HCR ManorCare, Inc. (“HCR ManorCare”) ($23.7 billion and $24.0 billion at September 30, 2013 and December 31, 2012, respectively). The triple-net master lease with HCR ManorCare provides for annual rent of $506 million beginning April 1, 2013 (prior to April 1, 2013, annual rent was $489 million). The rent increases by 3.5% per year over the next three years and by 3% for the remaining portion of the initial lease term. The properties are grouped into four pools, and HCR ManorCare has a one-time extension option for each pool with rent increased for the first year of the extension option to the greater of fair market rent or a 3% increase over the rent for the prior year. Including the extension options, which the Company determined to be bargain renewal options, the four leased pools had total initial available terms ranging from 23 to 35 years.
	Certain leases contain provisions that allow the tenants to elect to purchase the properties during or at the end of the lease terms for the aggregate initial investment amount plus adjustments, if any, as defined in the lease agreements. Certain leases also permit the Company to require the tenants to purchase the properties at the end of the lease terms.
	During the three months ended September 30, 2013, the Company placed a 14-property senior housing DFL (the “DFL Portfolio”) on non-accrual status. Based on the Company’s determination that the collection of all rental payments is no longer reasonably assured, rental revenue for the DFL Portfolio will be recognized on a cash basis. Furthermore, the Company assessed the DFL Portfolio for impairment. The Company determined that the DFL Portfolio was not impaired at September 30, 2013, based on its belief that: (i) it is not probable that it will not collect all of the rental payments under the terms of the lease; and (ii) the fair value of the underlying collateral exceeds the DFL Portfolio’s $376 million carrying amount. The fair value of the DFL Portfolio was estimated based on a discounted cash flow model, which inputs are considered to be a Level 3 measurement within the fair value hierarchy. Inputs to this valuation model include real estate capitalization rates, industry growth rates and operating margins, some of which influence the Company’s expectation of future cash flows from the DFL Portfolio and, accordingly, the fair value of its investment. During the three months ended September 30, 2013 and 2012, the Company recognized DFL income of $5.1 million and $7.0 million, respectively, and received cash payments of $6.1 million and $5.6 million, respectively, from the DFL Portfolio. During the nine months ended September 30, 2013 and 2012, the Company recognized DFL income of $19.1 million and $20.8 million, respectively, and received cash payments of $17.6 million and $17.3 million, respectively, from the DFL Portfolio.

Loans_Receivable

Loans Receivable	9 Months Ended
	Sep. 30, 2013
Loans Receivable	'
Loans Receivable	'
	(6)   Loans Receivable
	The following table summarizes the Company’s loans receivable (in thousands):
		September 30, 2013								December 31, 2012
		Real Estate		Other			Total			Real Estate		Other			Total
		Secured		Secured						Secured		Secured
	Mezzanine	$	—	$	245,535		$	245,535		$	—	$	145,150		$	145,150
	Other(1)	161,471		—			161,471			147,264		—			147,264
	Unamortized discounts, fees and costs	—		(2,793		)	(2,793		)	—		(2,974		)	(2,974		)
	Allowance for loan losses	—		(13,410		)	(13,410		)	—		(13,410		)	(13,410		)
		$	161,471	$	229,332		$	390,803		$	147,264	$	128,766		$	276,030
	(1)          Includes $110 million and $72 million at September 30, 2013 and December 31, 2012, respectively, of construction loans outstanding related to senior housing development projects.  At September 30, 2013, the Company had $37 million remaining in its commitments to fund development projects.
	Other Secured Loans
	Barchester Loan.  On May 2, 2013, the Company acquired £121 million ($188 million) of subordinated debt at a discount for £109 million ($170 million). The loan was secured by an interest in 160 facilities leased and operated by Barchester Healthcare (“Barchester”). On August 23, 2013, the Company acquired an additional investment in this loan of £9 million ($14 million) at a discount for £5 million ($8 million). This loan accrued interest on its face value at a floating rate LIBOR plus a weighted-average margin of 3.14%. This loan investment was financed by a GBP denominated draw on the Company’s revolving line of credit facility that is discussed in Note 10. On September 6, 2013, the Company received £129 million ($202 million) from the par payoff of its Barchester debt investments; as a result, the Company recognized interest income of $24 million representing primarily the debt investments’ unamortized discounts. A portion of the proceeds from the Barchester repayment were used to repay the total outstanding amount of the Company’s GBP denominated draw on its revolving line of credit facility.
	Tandem Health Care Loan.  On July 31, 2012, the Company closed a mezzanine loan facility to lend up to $205 million to Tandem Health Care (“Tandem”), an affiliate of Formation Capital, as part of the recapitalization of a post-acute/skilled nursing portfolio. At closing, the loan was subordinate to $400 million in senior mortgage debt and $137 million in senior mezzanine debt. The Company funded $100 million (the “First Tranche”) at closing and funded an additional $102 million (the “Second Tranche”) in June 2013. The Second Tranche was used to repay the senior mezzanine debt. At September 30, 2013, the loan was subordinate to $443 million of senior mortgage debt. The loan bears interest at a fixed rate of 12% and 14% per annum for the First and Second Tranches, respectively. The facility has a total term of up to 63 months from the initial closing, is prepayable at the borrower’s option and is secured by real estate partnership interests. The loan is subject to a prepayment premium if repaid on or before the third anniversary from the initial closing date.
	Delphis Operations, L.P. Loan.  The Company holds a secured term loan made to Delphis Operations, L.P. (“Delphis” or the “Borrower”) that is collateralized by all of the assets of the Borrower. The Borrower’s collateral is comprised primarily of interests in partnerships operating surgical facilities, of which one partnership leases a property owned by the Company. In December 2009, the Company determined that the loan was impaired. Further, in January 2011 the Company placed the loan on cost-recovery status, whereby accrual of interest income was suspended, and any payments received from the Borrower are applied to reduce the recorded investment in the loan.
	As part of a March 2012 agreement (the “2012 Agreement”) between Delphis, certain past and current principals of Delphis and the Cirrus Group, LLC (the “Guarantors”), and the Company, the Company agreed, among other things, to allow the distribution of $1.5 million to certain of the Guarantors from funds generated from sales of assets that were pledged as additional collateral for this loan. Further, the Company, as part of the 2012 Agreement, agreed to provide financial incentives to the Borrower regarding the liquidation of the primary collateral assets for this loan.
	Pursuant to the 2012 Agreement, the Company received the remaining cash ($4.8 million, after reducing this amount by $0.5 million for related legal expenses) and other consideration ($2.1 million) of $6.9 million from the Guarantors. In addition, during 2012, the Company received $38.1 million in net proceeds from the sales of two of the primary collateral assets, which proceeds, together with the cash payments and other consideration, were applied to reduce the carrying value of the loan. The carrying value of the loan was $29.2 million and $30.7 million at September 30, 2013 and December 31, 2012, respectively. During the nine months ended September 30, 2013, the Company received cash payments from the Borrower of $1.5 million. At September 30, 2013, the Company believes the fair value of the collateral supporting this loan is in excess of its carrying value.

Investments_in_and_Advances_to

Investments in and Advances to Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2013
Investments in and Advances to Unconsolidated Joint Ventures	'
Investments in and Advances to Unconsolidated Joint Ventures	'
	(7)   Investments in and Advances to Unconsolidated Joint Ventures
	The Company owns interests in the following entities that are accounted for under the equity method at September 30, 2013 (dollars in thousands):
	Entity(1)	Properties/Segment		Investment(2)			Ownership%
	HCR ManorCare	post-acute/skilled nursing operations		$	85,777		9.5
	HCP Ventures III, LLC	13 medical office		7,251			30
	HCP Ventures IV, LLC	54 medical office and 4 hospital		30,420			20
	HCP Life Science(3)	4 life science		68,992			50-63
	Horizon Bay Hyde Park, LLC	1 senior housing		6,725			72
	Suburban Properties, LLC	1 medical office		6,666			67
	Advances to unconsolidated joint ventures, net			173
				$	206,004
	Edgewood Assisted Living Center, LLC	1 senior housing		$	(429	)	45
	Seminole Shores Living Center, LLC	1 senior housing		(697		)	50
				$	(1,126	)
	(1)          These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures.
	(2)          Represents the carrying value of the Company’s investment in the unconsolidated joint venture. Negative balances are recorded in accounts payable and accrued liabilities on the Company’s Condensed Consolidated Balance Sheets.
	(3)          Includes three unconsolidated joint ventures between the Company and an institutional capital partner for which the Company is the managing member. HCP Life Science includes the following partnerships (and the Company’s ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).
	Summarized combined financial information for the Company’s unconsolidated joint ventures follows (in thousands):
		September 30,			December 31,
		2013			2012
	Real estate, net	$	3,676,367		$	3,731,740
	Goodwill and other assets, net	5,802,930			5,734,318
	Total assets	$	9,479,297		$	9,466,058
	Capital lease obligations and mortgage debt	$	6,782,574		$	6,875,932
	Accounts payable	1,060,153			971,095
	Other partners’ capital	1,452,308			1,435,885
	HCP’s capital(1)	184,262			183,146
	Total liabilities and partners’ capital	$	9,479,297		$	9,466,058
	(1)          The combined basis difference of the Company’s investments in these joint ventures of $20 million, as of September 30, 2013, is primarily attributable to goodwill, real estate, capital lease obligations, deferred tax assets and lease related net intangibles.
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013		2012
	Total revenues	$	1,055,889		$	1,057,567		$	3,208,752	$	3,196,086
	Net income (loss)	1,739			(8,851		)	22,232		8,416
	HCP’s share in earnings (1)	13,892			13,396			44,278		42,803
	Fees earned by HCP	464			460			1,406		1,423
	Distributions received by HCP	1,390			1,419			3,918		4,826
	(1)          The Company’s joint venture interest in HCR ManorCare is accounted for using the equity method and results in an ongoing reduction of DFL income, proportional to HCP’s ownership in HCR ManorCare. The Company recorded a reduction of $15.4 million and $46.6 million for the three and nine months ended September 30, 2013, respectively. The Company recorded a reduction of $14.9 million and $44.4 million for the three and nine months ended September 30, 2012, respectively. Further, the Company’s share of earnings from HCR ManorCare (equity income) increases for the corresponding reduction of related lease expense recognized at the HCR ManorCare level.

Intangibles

Intangibles	9 Months Ended
	Sep. 30, 2013
Intangibles	'
Intangibles	'
	(8)         Intangibles
	At September 30, 2013 and December 31, 2012, intangible lease assets, comprised of lease-up intangibles, above market tenant lease intangibles and below market ground lease intangibles, were $784 million and $794 million, respectively. At September 30, 2013 and December 31, 2012, the accumulated amortization of intangible assets was $276 million and $241 million, respectively.
	At September 30, 2013 and December 31, 2012, intangible lease liabilities, comprised of below market lease intangibles and above market ground lease intangible liabilities were $208 million and $194 million, respectively. At September 30, 2013 and December 31, 2012, the accumulated amortization of intangible liabilities was $105 million and $90 million, respectively.

Other_Assets

Other Assets	9 Months Ended
	Sep. 30, 2013
Other Assets.	'
Other Assets	'
	(9)         Other Assets
	The Company’s other assets consisted of the following (in thousands):
		September 30,		December 31,
		2013		2012
	Straight-line rent assets, net of allowance of $34,123 and $33,521, respectively	$	358,514	$	306,294
	Marketable debt securities, net(1)	238,834		222,809
	Leasing costs, net	98,406		93,763
	Deferred financing costs, net	37,379		45,490
	Goodwill	50,346		50,346
	Marketable equity securities	—		24,829
	Other(2)	52,518		44,989
	Total other assets	$	835,997	$	788,520
	(1)          Includes £137 million ($222 million and $223 million at September 30, 2013 and December 31, 2012, respectively) of Four Seasons senior unsecured notes translated into U.S. dollars (see below for additional information).
	(2)          Includes a $5.4 million allowance for losses related to accrued interest receivable on the Delphis loan, which accrued interest is included in other assets. At both September 30, 2013 and December 31, 2012, the carrying value of interest accrued related to the Delphis loan was zero. See Note 6 for additional information about the Delphis loan and the related impairment. At both September 30, 2013 and December 31, 2012, includes a loan receivable of $10 million from HCP Ventures IV, LLC, an unconsolidated joint venture (see Note 7 for additional information) with an interest rate of 12% which matures in May 2014. The loan is secured by HCP’s joint venture partner’s 80% partnership interest in the joint venture.
	During the nine months ended September 30, 2013, the Company realized gains from the sale of marketable equity securities of $11 million, which were included in other income, net. At December 31, 2012, the fair value and adjusted cost basis of the marketable equity securities were $24.8 million and $17.1 million, respectively. The marketable equity securities were classified as available-for-sale.
	Four Seasons Health Care Senior Unsecured Notes
	On June 28, 2012, the Company purchased senior unsecured notes with an aggregate par value of £138.5 million at a discount for £136.8 million ($214.9 million). The notes were issued by Elli Investments Limited, a subsidiary of Terra Firma, a European private equity firm, as part of its financing for the acquisition of Four Seasons Health Care (“Four Seasons”), an elderly and specialist care provider in the United Kingdom. The notes mature in June 2020 and are non-callable through June 2016. The notes bear interest on their par value at a fixed rate of 12.25% per annum, with an original issue discount resulting in a yield to maturity of 12.5%. This investment was financed by a GBP denominated unsecured term loan that is discussed in Note 10. These senior unsecured notes are accounted for as marketable debt securities and classified as held-to-maturity.

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt	'
Debt	'
	(10) Debt
	Bank Line of Credit and Term Loan
	The Company’s $1.5 billion unsecured revolving line of credit facility (the “Facility”) matures in March 2016 and contains a one-year extension option. Borrowings under the Facility accrue interest at LIBOR plus a margin that depends on the Company’s debt ratings. The Company pays a facility fee on the entire revolving commitment that depends upon its debt ratings. Based on the Company’s debt ratings at September 30, 2013, the margin on the Facility was 1.075%, and the facility fee was 0.175%. The Facility also includes a feature that will allow the Company to increase the borrowing capacity by an aggregate amount of up to $500 million, subject to securing additional commitments from existing lenders or new lending institutions. At September 30, 2013, the Company had $285 million outstanding under the Facility.
	On July 30, 2012, the Company entered into a credit agreement with a syndicate of banks for a £137 million ($222 million at September 30, 2013) four-year unsecured term loan (the “Term Loan”) that accrues interest at a rate of GBP LIBOR plus 1.20%, based on the Company’s current debt ratings. Concurrent with the closing of the Term Loan, the Company entered into a four-year interest rate swap contract that fixes the interest rate of the Term Loan at 1.81%, subject to adjustments based on the Company’s debt ratings. The Term Loan contains a one-year committed extension option.
	The Facility and Term Loan contain certain financial restrictions and other customary requirements, including cross-default provisions to other indebtedness. Among other things, these covenants, using terms defined in the agreements, (i) limit the ratio of Consolidated Total Indebtedness to Consolidated Total Asset Value to 60%, (ii) limit the ratio of Secured Debt to Consolidated Total Asset Value to 30%, (iii) limit the ratio of Unsecured Debt to Consolidated Unencumbered Asset Value to 60%, (iv) require a minimum Fixed Charge Coverage ratio of 1.5 times and (v) require a formula-determined Minimum Consolidated Tangible Net Worth of $9.2 billion at September 30, 2013. At September 30, 2013, the Company was in compliance with each of these restrictions and requirements of the Facility and Term Loan.
	Senior Unsecured Notes
	At September 30, 2013, the Company had senior unsecured notes outstanding with an aggregate principal balance of $6.6 billion. At September 30, 2013, interest rates on the notes ranged from 1.22% to 6.98% with a weighted average effective interest rate of 5.10% and a weighted average maturity of five years. Discounts and premiums are amortized to interest expense over the term of the related senior unsecured notes. The senior unsecured notes contain certain covenants including limitations on debt, maintenance of unencumbered assets, cross-acceleration provisions and other customary terms. The Company believes it was in compliance with these covenants at September 30, 2013.
	On February 28, 2013, the Company repaid $150 million of maturing 5.625% senior unsecured notes.
	On November 19, 2012, the Company issued $800 million of 2.625% senior unsecured notes due in 2020. The notes were priced at 99.7% of the principal amount with an effective yield to maturity of 2.7%; net proceeds from this offering were $793 million.
	On July 23, 2012, the Company issued $300 million of 3.15% senior unsecured notes due in 2022. The notes were priced at 98.9% of the principal amount with an effective yield to maturity of 3.3%; net proceeds from the offering were $294 million.
	On June 25, 2012, the Company repaid $250 million of maturing 6.45% senior unsecured notes. The notes were repaid with proceeds from the Company’s June 2012 common stock offering.
	On January 23, 2012, the Company issued $450 million of 3.75% senior unsecured notes due in 2019. The notes were priced at 99.5% of the principal amount with an effective yield to maturity of 3.8%; net proceeds from the offering were $444 million.
	Mortgage Debt
	At September 30, 2013, the Company had $1.4 billion in aggregate principal amount of mortgage debt outstanding secured by 132 healthcare facilities (including redevelopment properties) with a carrying value of $2.0 billion. At September 30, 2013, interest rates on the mortgage debt ranged from 0.69% to 8.69% with a weighted average effective interest rate of 6.16% and a weighted average maturity of four years.
	Mortgage debt generally requires monthly principal and interest payments, is collateralized by real estate assets and is generally non-recourse. Mortgage debt typically restricts transfer of the encumbered assets, prohibits additional liens, restricts prepayment, requires payment of real estate taxes, requires maintenance of the assets in good condition, requires maintenance of insurance on the assets and includes conditions to obtain lender consent to enter into or terminate material leases. Some of the mortgage debt is also cross-collateralized by multiple assets and may require tenants or operators to maintain compliance with the applicable leases or operating agreements of such real estate assets.
	Other Debt
	At September 30, 2013, the Company had $78 million of non-interest bearing life care bonds at two of its continuing care retirement communities and non-interest bearing occupancy fee deposits at two of its senior housing facilities, all of which were payable to certain residents of the facilities (collectively, “Life Care Bonds”). The Life Care Bonds are generally refundable to the residents upon the termination of the contract or upon the successful resale of the unit.
	Debt Maturities
	The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at September 30, 2013 (in thousands):
	Year	Line of		Term Loan(1)		Senior			Mortgage			Total(2)
		Credit				Unsecured			Debt
						Notes
	2013 (Three months)	$	—	$	—	$	400,000		$	14,003		$	414,003
	2014	—		—		487,000			180,042			667,042
	2015	—		—		400,000			308,421			708,421
	2016	285,000		221,748		900,000			291,738			1,698,486
	2017	—		—		750,000			550,477			1,300,477
	Thereafter	—		—		3,650,000			71,825			3,721,825
		285,000		221,748		6,587,000			1,416,506			8,510,254
	(Discounts) and premiums, net	—		—		(21,066		)	(6,099		)	(27,165		)
		$	285,000	$	221,748	$	6,565,934		$	1,410,407		$	8,483,089
	(1)          Represents £137 million translated into U.S. dollars.
	(2)          Excludes $78 million of other debt that represents Life Care Bonds that have no scheduled maturities.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies.	'
Commitments and Contingencies	'
	(11) Commitments and Contingencies
	Legal Proceedings
	From time to time, the Company is a party to legal proceedings, lawsuits and other claims that arise in the ordinary course of the Company’s business. The Company is not aware of any legal proceedings or claims that it believes may have, individually or taken together, a material adverse effect on the Company’s business, prospects, financial condition, results of operations or cash flows. The Company’s policy is to expense legal costs as they are incurred.
	Concentration of Credit Risk
	Concentrations of credit risks arise when one or more operators, tenants or obligors related to the Company’s investments are engaged in similar business activities, or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. The Company regularly monitors various segments of its portfolio to assess potential concentrations of risks. The Company does not have significant foreign operations.
	The following table provides information regarding the Company’s concentrations with respect to certain operators and tenants; the information provided is presented for the gross assets and revenues that are associated with certain operators and tenants as percentages of the respective segment’s and total Company’s assets and revenues:
	Segment Concentrations:
		Percentage of										Percentage of					Percentage of
		Senior Housing Gross Assets										Senior Housing Revenues					Senior Housing Revenues
		September 30,				December 31,					Three Months Ended September 30,					Nine Months Ended September 30,
	Operators	2013			2012					2013				2012		2013			2012
	Emeritus	37.3	%		37.3		%			34.8			%	20.3	%	34.6		%	20.5	%
	Sunrise Senior Living (“Sunrise”)(1)	17.2			17.5					11.5				15.6		12.2			15.7
	HCR ManorCare	11			11					9.6				11.7		9.5			11.8
	Brookdale Senior Living (“Brookdale”)(2)	10.6			10.7					11.7				14.4		11.6			14.2
		Percentage of Post-Acute/										Percentage of Post-Acute/					Percentage of Post-Acute/
		Skilled Nursing Gross Assets										Skilled Nursing Revenues					Skilled Nursing Revenues
		September 30,				December 31,					Three Months Ended September 30,					Nine Months Ended September 30,
	Operators	2013			2012					2013				2012		2013			2012
	HCR ManorCare	88.1	%		89.3		%			72.7			%	87.2	%	81.3		%	90.9	%
	Total Company Concentrations:
		Percentage of										Percentage of					Percentage of
		Total Company Assets										Total Company Revenues					Total Company Revenues
		September 30,				December 31,					Three Months Ended September 30,					Nine Months Ended September 30,
	Operators	2013			2012					2013				2012		2013			2012
	HCR ManorCare	32.1	%		31.5		%			27			%	30.7	%	28		%	31.2	%
	Emeritus	14.6			14.3					12.2				6.6		12.6			6.7
	Sunrise(1)	6.8			6.7					4				5		4.4			5.2
	Brookdale(2)	4.2			4.1					4.1				4.7		4.2			4.7
	(1)          Certain of the Company’s properties are leased to tenants who have entered into management contracts with Sunrise to operate the respective property on their behalf. The Company’s concentration of gross assets includes properties directly leased to Sunrise and properties that are managed by Sunrise on behalf of third party tenants.
	(2)         At September 30, 2013 and December 31, 2012, Brookdale percentages exclude $778 million and $759 million, respectively, of senior housing assets related to 21 senior housing facilities that Brookdale operates on the Company’s behalf under a RIDEA structure. Assuming that these assets were attributable to Brookdale, the percentage of senior housing assets for Brookdale would be 21% at both September 30, 2013 and December 31, 2012. Assuming that these assets were attributable to Brookdale, the percentage of total assets for Brookdale would be 8% at both September 30, 2013 and December 31, 2012. For the three and nine months ended September 30, 2013, Brookdale percentages exclude $37.6 million and $112.0 million, respectively, of senior housing revenues related to these facilities. Assuming that these revenues were attributable to Brookdale, the percentage of senior housing revenues for Brookdale would be 31% for both the three and nine months ended September 30, 2013. Assuming that these revenues were attributable to Brookdale, the percentage of total revenues for Brookdale would be 11% for both the three and nine months ended September 30, 2013. For the three and nine months ended September 30, 2012, Brookdale percentages exclude $36.1 million and $106.8 million, respectively, of senior housing revenues related to these facilities. Assuming that these revenues were attributable to Brookdale, the percentage of senior housing revenues for Brookdale would be 38% for both the three and nine months ended September 30, 2012. Assuming that these revenues were attributable to Brookdale, the percentage of total revenues for Brookdale would be 12% for both the three and nine months ended September 30, 2012.
	HCR ManorCare’s summarized condensed consolidated financial information follows (in millions):
		September 30,			December 31,
		2013			2012
	Real estate and other property, net	$	3,008.70		$	3,046.60
	Cash and cash equivalents	158.5			120.5
	Goodwill, intangible and other assets, net	5,563.70			5,625.40
	Total assets	$	8,730.90		$	8,792.50
	Debt and financing obligations	$	6,289.00		$	6,374.60
	Accounts payable, accrued liabilities and other	1,021.80			1,021.90
	Total equity	1,420.10			1,396.00
	Total liabilities and equity	$	8,730.90		$	8,792.50
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Revenues	$	1,030.30		$	1,037.80		$	3,131.70		$	3,113.30
	Operating, general and administrative expense	(888.1		)	(880.8		)	(2,677.4		)	(2,663.7		)
	Depreciation and amortization expense	(36.3		)	(41.6		)	(110.0		)	(125.2		)
	Interest expense	(103.8		)	(105.2		)	(312.3		)	(317.3		)
	Other income, net	2.3			3.7			4			10.1
	Income before income taxes	4.4			13.9			36			17.2
	Income taxes	(1.8		)	(4.8		)	(11.6		)	(4.7		)
	Net income	$	2.6		$	9.1		$	24.4		$	12.5
	To mitigate the credit risk of leasing properties to certain senior housing and post-acute/skilled nursing operators, leases with operators are often combined into portfolios that contain cross-default terms, so that if a tenant of any of the properties in a portfolio defaults on its obligations under its lease, the Company may pursue its remedies under the lease with respect to any of the properties in the portfolio. Certain portfolios also contain terms whereby the net operating profits of the properties are combined for the purpose of securing the funding of rental payments due under each lease.
	Credit Enhancement Guarantee
	Certain of the Company’s senior housing facilities serve as collateral for $113 million of debt (maturing May 1, 2025) that is owed by a previous owner of the facilities. This indebtedness is guaranteed by the previous owner who has an investment grade credit rating. These senior housing facilities, which are classified as DFLs, had a carrying value of $376 million as of September 30, 2013.

Equity

Equity	9 Months Ended
	Sep. 30, 2013
Equity	'
Equity	'
	(12) Equity
	Preferred Stock
	On April 23, 2012, the Company redeemed all of its outstanding preferred stock consisting of 4,000,000 shares of its 7.25% Series E preferred stock and 7,820,000 shares of its 7.10% Series F preferred stock. The shares of Series E and Series F preferred stock were redeemed at a price of $25 per share, or $295.5 million in aggregate, plus all accrued and unpaid dividends to the redemption date. As a result of the redemption, which was announced on March 22, 2012, the Company incurred a charge of $10.4 million during the three months ended March 31, 2012 related to the original issuance costs of the preferred stock (this charge is presented as an additional preferred stock dividend in the Company’s condensed consolidated statements of income).
	Common Stock
	The following table lists the common stock cash dividends declared by the Company in 2013:
	Declaration Date	Record Date		Amount			Dividend
				Per Share			Payable Date
	January 24	February 4		$	0.525		February 19
	April 25	May 6		0.525			May 21
	July 25	August 5		0.525			August 20
	October 24	November 4		0.525			November 19
	In October 2012, the Company completed a $979 million offering of 22 million shares of common stock at a price of $44.50 per share, which proceeds were primarily used to fund the Blackstone JV Acquisition.
	In June 2012, the Company completed a $376 million offering of 8.97 million shares of common stock at a price of $41.88 per share, which proceeds were primarily used to repay $250 million of maturing senior unsecured notes.
	In March 2012, the Company completed a $359 million offering of 9.0 million shares of common stock at a price of $39.93 per share, which proceeds were primarily used to redeem all outstanding shares of the Company’s preferred stock.
	The following is a summary of the Company’s other common stock issuances (shares in thousands):
		Nine Months Ended September 30,
		2013		2012
	Dividend Reinvestment and Stock Purchase Plan	1,681		675
	Conversion of DownREIT units(1)	85		72
	Exercise of stock options	875		2,451
	Vesting of restricted stock units(2)	110		385
	(1)          Non-managing member LLC units.
	(2)          Issued under the Company’s 2006 Performance Incentive Plan.
	Accumulated Other Comprehensive Loss
	The following is a summary of the Company’s accumulated other comprehensive loss (in thousands):
		September 30,			December 31,
		2013			2012
	Unrealized gains on available for sale securities	$	—		$	7,776
	Unrealized losses on cash flow hedges, net	(12,066		)	(18,452		)
	Supplemental Executive Retirement Plan minimum liability	(2,983		)	(3,150		)
	Cumulative foreign currency translation adjustment	(830		)	(827		)
	Total accumulated other comprehensive loss	$	(15,879	)	$	(14,653	)
	Noncontrolling Interests
	At September 30, 2013, non-managing members hold an aggregate of 4 million units in four limited liability companies (“DownREITs”), for which the Company is the managing member. At September 30, 2013, the carrying and fair values of these DownREIT units were $185 million and $246 million, respectively.

Segment_Disclosures

Segment Disclosures	9 Months Ended
	Sep. 30, 2013
Segment Disclosures	'
Segment Disclosures	'
	(13) Segment Disclosures
	The Company evaluates its business and makes resource allocations based on its five business segments: (i) senior housing, (ii) post-acute/skilled nursing, (iii) life science, (iv) medical office and (v) hospital. Under the senior housing, post-acute/skilled nursing, life science and hospital segments, the Company invests or co-invests primarily in single operator or tenant properties, through the acquisition and development of real estate, management of operations (RIDEA) and by debt issued by operators in these sectors. Under the medical office segment, the Company invests or co-invests through the acquisition and development of medical office buildings (“MOBs”) that are leased under gross, modified gross or triple-net leases, generally to multiple tenants, and which generally require a greater level of property management. The accounting policies of the segments are the same as those described in Note 2 to the Consolidated Financial Statements for the year ended December 31, 2012 in the Company’s Annual Report on Form 10-K filed with the SEC. There were no intersegment sales or transfers during the nine months ended September 30, 2013 and 2012. The Company evaluates performance based upon property net operating income from continuing operations (“NOI”), adjusted NOI and interest income of the combined investments in each segment.
	Non-segment assets consist primarily of corporate assets including cash and cash equivalents, restricted cash, accounts receivable, net, marketable equity securities, deferred financing costs and, if any, real estate held-for-sale. Interest expense, depreciation and amortization and non-property specific revenues and expenses are not allocated to individual segments in determining the Company’s performance measure. See Note 11 for other information regarding concentrations of credit risk.
	Summary information for the reportable segments follows (in thousands):
	For the three months ended September 30, 2013:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	149,443		$	37,589		$	3,121		$	—		$	190,153	$	162,391	$	148,997
	Post-acute/skilled	138,289			—			38,642			—			176,931		137,642		120,258
	Life science	72,531			—			—			1			72,532		58,440		56,352
	Medical office	88,473			—			—			463			88,936		52,255		52,214
	Hospital	15,091			—			315			—			15,406		14,119		14,148
	Total	$	463,827		$	37,589		$	42,078		$	464		$	543,958	$	424,847	$	391,969
	For the three months ended September 30, 2012:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	114,661		$	36,076		$	877		$	—		$	151,614	$	125,865	$	113,401
	Post-acute/skilled	135,183			—			9,135			—			144,318		135,029		116,573
	Life science	71,194			—			—			1			71,195		59,403		56,341
	Medical office	85,800			—			—			459			86,259		50,852		49,669
	Hospital	14,414			—			266			—			14,680		13,526		13,165
	Total	$	421,252		$	36,076		$	10,278		$	460		$	468,066	$	384,675	$	349,149
	For the nine months ended September 30, 2013:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	448,600		$	112,070		$	8,328		$	—		$	568,998	$	487,501	$	440,395
	Post-acute/skilled	411,912			—			59,656			—			471,568		409,965		356,544
	Life science	221,088			—			—			3			221,091		179,775		170,957
	Medical office	265,902			—			—			1,403			267,305		160,170		157,742
	Hospital	33,703			—			627			—			34,330		30,882		42,369
	Total	$	1,381,205		$	112,070		$	68,611		$	1,406		$	1,563,292	$	1,268,293	$	1,168,007
	For the nine months ended September 30, 2012:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	341,353		$	107,824		$	1,686		$	—		$	450,863	$	379,251	$	341,794
	Post-acute/skilled	403,209			—			9,842			—			413,051		402,690		345,936
	Life science	215,569			—			—			3			215,572		177,339		171,179
	Medical office	246,661			—			—			1,420			248,081		148,030		144,272
	Hospital	42,647			—			785			—			43,432		39,919		38,696
	Total	$	1,249,439		$	107,824		$	12,313		$	1,423		$	1,370,999	$	1,147,229	$	1,041,877
	(1)          Represents rental and related revenues, tenant recoveries and income from DFLs.
	(2)          NOI is a non-GAAP supplemental financial measure used to evaluate the operating performance of real estate. The Company defines NOI as rental and related revenues, including tenant recoveries, resident fees and services, and income from DFLs, less property level operating expenses. NOI excludes interest income, investment management fee income, interest expense, depreciation and amortization, general and administrative expenses, litigation settlement, impairments, impairment recoveries, other income, net, income taxes, equity income from and impairments of investments in unconsolidated joint ventures, and discontinued operations. The Company believes NOI provides relevant and useful information because it reflects only income and operating expense items that are incurred at the property level and presents them on an unleveraged basis. Adjusted NOI is calculated as NOI after eliminating the effects of straight-line rents, DFL accretion, amortization of above and below market lease intangibles, and lease termination fees. Adjusted NOI is sometimes referred to as “cash NOI.” The Company uses NOI and adjusted NOI to make decisions about resource allocations and to assess and compare property level performance. The Company believes that net income is the most directly comparable GAAP measure to NOI. NOI should not be viewed as an alternative measure of operating performance to net income as defined by GAAP because it does not reflect the aforementioned excluded items. Further, the Company’s definition of NOI may not be comparable to the definition used by other REITs or real estate companies, as those companies may use different methodologies for calculating NOI.
	The following is a reconciliation of reported net income to NOI and adjusted NOI (in thousands):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Net income	$	236,858		$	199,043		$	687,367		$	600,582
	Interest income	(42,078		)	(10,278		)	(68,611		)	(12,313		)
	Investment management fee income	(464		)	(460		)	(1,406		)	(1,423		)
	Interest expense	108,088			103,355			326,094			309,399
	Depreciation and amortization	104,859			87,170			317,430			254,463
	General and administrative	45,423			19,415			90,080			54,299
	Impairments	—			7,878			—			7,878
	Other income, net	(1,584		)	(770		)	(16,887		)	(2,232		)
	Income taxes	1,033			(602		)	3,563			(1,145		)
	Equity income from unconsolidated joint ventures	(13,892		)	(13,396		)	(44,278		)	(42,803		)
	Total discontinued operations	(13,396		)	(6,680		)	(25,059		)	(19,476		)
	NOI	424,847			384,675			1,268,293			1,147,229
	Straight-line rents	(12,604		)	(11,821		)	(28,559		)	(33,608		)
	DFL accretion	(19,822		)	(23,433		)	(65,386		)	(71,072		)
Amortization of above and below market lease intangibles, net	(346		)	(533		)	(6,414		)	(1,855		)
Lease termination fees	(205		)	(175		)	(220		)	(574		)
NOI adjustments related to discontinued operations	99			436			293			1,757
Adjusted NOI	$	391,969		$	349,149		$	1,168,007		$	1,041,877
The Company’s total assets by segment were (in thousands):
	September 30,			December 31,
Segments	2013			2012
Senior housing	$	7,811,003		$	7,654,221
Post-acute/skilled nursing	6,269,566			6,080,826
Life science	3,969,723			3,932,397
Medical office	2,686,241			2,661,394
Hospital	542,187			505,393
Gross segment assets	21,278,720			20,834,231
Accumulated depreciation and amortization	(2,192,342		)	(1,900,221		)
Net segment assets	19,086,378			18,934,010
Assets held-for-sale, net	130,765			145,621
Other non-segment assets	672,366			835,924
Total assets	$	19,889,509		$	19,915,555
At September 30, 2013, goodwill of $50 million was allocated to segment assets as follows: (i) senior housing—$31 million, (ii) post-acute/skilled nursing—$3 million, (iii) medical office—$11 million, and (iv) hospital—$5 million.

Earnings_Per_Common_Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Common Share	'
Earnings Per Common Share	'
	(14) Earnings Per Common Share
	The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Numerator
	Income from continuing operations	$	223,462		$	192,363		$	662,308		$	581,106
	Noncontrolling interests’ share in continuing operations	(3,102		)	(2,935		)	(9,625		)	(9,070		)
	Income from continuing operations applicable to HCP, Inc.	220,360			189,428			652,683			572,036
	Preferred stock dividends	—			—			—			(17,006		)
	Participating securities’ share in continuing operations	(474		)	(479		)	(1,330		)	(2,154		)
	Income from continuing operations applicable to common shares	219,886			188,949			651,353			552,876
	Discontinued operations	13,396			6,680			25,059			19,476
	Net income applicable to common shares	$	233,282		$	195,629		$	676,412		$	572,352
	Denominator
	Basic weighted average common shares	455,345			429,557			454,553			420,049
	Dilutive potential common shares	733			1,221			835			1,355
	Diluted weighted average common shares	456,078			430,778			455,388			421,404
	Basic earnings per common share
	Income from continuing operations	$	0.48		$	0.44		$	1.43		$	1.32
	Discontinued operations	0.03			0.02			0.06			0.04
	Net income applicable to common shares	$	0.51		$	0.46		$	1.49		$	1.36
	Diluted earnings per common share
	Income from continuing operations	$	0.48		$	0.44		$	1.43		$	1.32
	Discontinued operations	0.03			0.01			0.06			0.04
	Net income applicable to common shares	$	0.51		$	0.45		$	1.49		$	1.36
	Restricted stock and certain of the Company’s performance restricted stock units are considered participating securities, because dividend payments are not forfeited even if the underlying award does not vest, which require the use of the two-class method when computing basic and diluted earnings per share.
	Options to purchase approximately 0.9 million and 0.5 million shares of common stock that had an exercise price (including deferred compensation expense) in excess of the average closing market price of the Company’s common stock during the three months ended September 30, 2013 and 2012, respectively, were not included in the Company’s earnings per share calculations because they are anti-dilutive. Restricted stock and performance restricted stock units representing 7,500 shares of common stock during the three months ended September 30, 2013 were not included because they are anti-dilutive. Additionally, 6.0 million shares issuable upon conversion of 3.9 million DownREIT units during the three months ended September 30, 2013 were not included because they are anti-dilutive. During the three months ended September 30, 2012, 6.4 million shares issuable upon conversion of 4.4 million DownREIT units were not included because they are anti-dilutive.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2013
Supplemental Cash Flow Information	'
Supplemental Cash Flow Information	'
	(15) Supplemental Cash Flow Information
	The following table provides supplemental cash flow information (in thousands):
		Nine Months Ended September 30,
		2013			2012
	Supplemental cash flow information:
	Interest paid, net of capitalized interest	$	363,229		$	339,190
	Income taxes paid (refunded)	(2		)	1,645
	Capitalized interest	10,852			18,517
	Supplemental schedule of non-cash investing activities:
	Accrued construction costs	18,495			18,024
	Fair value of real estate acquired in exchange for sale of real estate	15,204			—
		Nine Months Ended September 30,
		2013		2012
	Supplemental schedule of non-cash financing activities:
	Vesting of restricted stock units	110		385
	Cancellation of restricted stock	17		6
	Conversion of non-managing member units into common stock	2,997		2,398
	Noncontrolling interests issued in connection with acquisitions	—		27,432
	Mortgages and other liabilities assumed with real estate acquisitions	12,728		35,120
	Unrealized gains on available-for-sale securities and derivatives designated as cash flow hedges, net	6,990		2,203
	See additional information regarding supplemental non-cash financing activities related to a real estate exchange in Note 4 and the preferred stock redemption in Note 12.

Variable_Interest_Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2013
Variable Interest Entities	'
Variable Interest Entities	'
	(16) Variable Interest Entities
	Unconsolidated Variable Interest Entities
	At September 30, 2013, the Company leased 48 properties to a total of seven VIE tenants and has additional investments in a loan and marketable debt securities to VIE borrowers. The Company has determined that it is not the primary beneficiary of these VIEs.
	The Company holds an interest-only, senior secured term loan made to a borrower (Delphis Operations, L.P.) that has been identified as a VIE (see Note 6 for additional information on the Delphis loan). The Company does not consolidate the VIE because it does not have the ability to control the activities that most significantly impact the VIE’s economic performance. The loan is collateralized by all of the assets of the borrower (comprised primarily of interests in partnerships that operate surgical facilities, of which one partnership is a tenant of the Company).
	The Company holds commercial mortgage-backed securities (“CMBS”) issued by Federal Home Loan Mortgage Corporation (“Freddie MAC”) through a special purpose entity that has been identified as a VIE. The Company does not consolidate the VIE because it does not have the ability to control the activities that most significantly impact the VIE’s economic performance. The CMBS issued by the VIE are backed by mortgages on senior housing facilities.
	The carrying value and classification of the related assets, liabilities and maximum exposure to loss as a result of the Company’s involvement with these VIEs are presented below at September 30, 2013 (in thousands):
	VIE Type	Maximum Loss		Asset/Liability Type	Carrying
		Exposure(1)			Amount
	VIE tenants—operating leases	$	262,598	Lease intangibles, net and straight-line rent receivables	$	14,526
	VIE tenants—DFLs	1,091,935		Net investment in DFLs	602,366
	Loan—senior secured	29,151		Loans receivable, net	29,151
	Debt investment	16,984		Marketable debt securities	16,984
	(1)         The Company’s maximum loss exposure related to the VIE tenants represents the future minimum lease payments over the remaining term of the respective leases, which may be mitigated by re-leasing the properties to new tenants. The Company’s maximum loss exposure related to its loans and marketable debt securities to the VIE borrowers represents its current aggregate carrying amount.
	As of September 30, 2013, the Company has not provided, and is not required to provide, financial support through a liquidity arrangement or otherwise, to its unconsolidated VIEs, including circumstances in which it could be exposed to further losses (e.g., cash shortfalls). See Notes 5 and 6 for additional descriptions of the nature, purpose and activities of the Company’s unconsolidated VIEs and interests therein.
	Consolidated Variable Interest Entities
	In September 2013, the Company made loans to two entities that entered into a tax credit structure (“Tax Credit Subsidiaries”). The Company consolidates the Tax Credit Subsidiaries because they are VIEs and the Company is the primary beneficiary of these VIEs. The assets and liabilities of the Tax Credit Subsidiaries substantially consist of notes receivable, prepaid expenses, notes payable and accounts payable and accrued liabilities generated from their operating activities. Assets generated by the operating activities of the Tax Credit Subsidiaries may only be used to settle their contractual obligations.
	In September 2011, the Company formed a partnership in which it has a 90% ownership interest in a joint venture entity that owns and operates 21 properties in a RIDEA structure (“RIDEA Entity”). The Company consolidated the RIDEA Entity as a result of the rights it acquired through the joint venture agreement with Brookdale. In the fourth quarter of 2012, upon the occurrence of a reconsideration event, it was determined that this RIDEA Entity was a VIE and that the Company was the primary beneficiary of the VIE; therefore, the Company continued to consolidate this entity. During the second quarter of 2013, upon the occurrence of a reconsideration event, it was determined that this RIDEA Entity was no longer a VIE; however, the Company continues to consolidate the RIDEA Entity. The assets and liabilities of this RIDEA Entity substantially consist of cash and cash equivalents, accounts receivable, and accounts payable and accrued liabilities generated from its operating activities. The assets generated by the operating activities of the RIDEA Entity may be used to settle its contractual obligations, which include lease obligations to the Company. The Company is entitled to its ownership share of the RIDEA Entity’s assets; however, it does not guarantee its liabilities (or contractual obligations) and is not liable to its general creditors.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements	'
Fair Value Measurements	'
	(17) Fair Value Measurements
	The following table illustrates the Company’s financial assets and liabilities measured at fair value on a recurring basis in the condensed consolidated balance sheets. Recognized gains and losses are recorded in other income, net on the Company’s condensed consolidated statements of income. During the nine months ended September 30, 2013, there were no transfers of financial assets or liabilities within the fair value hierarchy.
	The financial assets and liabilities carried at fair value on a recurring basis at September 30, 2013 follow (in thousands):
	Financial Instrument(1)	Fair Value			Level 2			Level 3
	Currency swap liabilities	$	(1,897	)	$	(1,897	)	$	—
	Interest-rate swap assets	1,564			1,564			—
	Interest-rate swap liabilities	(9,283		)	(9,283		)	—
	Warrants	180			—			180
		$	(9,436	)	$	(9,616	)	$	180
	(1)          Interest rate and currency swaps as well as common stock warrant fair values are determined based on observable and unobservable market assumptions utilizing standardized derivative pricing models.

Disclosures_About_Fair_Value_o

Disclosures About Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2013
Disclosures About Fair Value of Financial Instruments	'
Disclosures About Fair Value of Financial Instruments	'
	(18) Disclosures About Fair Value of Financial Instruments
	The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities are reasonable estimates of fair value because of the short-term maturities of these instruments. The fair values of loans receivable, bank line of credit, term loan, mortgage debt and other debt are based on rates currently prevailing for similar instruments with similar maturities. The fair values of interest-rate and currency swap contracts as well as common stock warrants are determined based on observable and unobservable market assumptions using standardized pricing models. The fair values of senior unsecured notes and marketable equity and debt securities are determined utilizing market quotes.
	The table below summarizes the carrying values and fair values of the Company’s financial instruments (in thousands):
		September 30, 2013				December 31, 2012
		Carrying		Fair Value		Carrying		Fair Value
		Value				Value
	Loans receivable, net(2)	$	390,803	$	402,243	$	276,030	$	279,850
	Marketable debt securities(1)	238,834		272,745		222,809		234,137
	Marketable equity securities(1)	—		—		24,829		24,829
	Warrants(3)	180		180		670		670
	Bank line of credit(2)	285,000		285,000		—		—
	Term loan(2)	221,748		221,748		222,694		222,694
	Senior unsecured notes(1)	6,565,934		7,027,982		6,712,624		7,432,012
	Mortgage debt(2)	1,410,407		1,452,732		1,676,544		1,771,155
	Other debt(2)	77,503		77,503		81,958		81,958
	Interest-rate swap assets(2)	1,564		1,564		89		89
	Interest-rate swap liabilities(2)	9,283		9,283		12,699		12,699
	Currency swap liabilities(2)	1,897		1,897		2,641		2,641
	(1)          Level 1: Fair value calculated based on quoted prices in active markets.
	(2)          Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing model derived valuations in which significant inputs or value drivers are observable in active markets.
	(3)          Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.

Derivative_Financial_Instrumen

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2013
Derivative Financial Instruments	'
Derivative Financial Instruments	'
	(19) Derivative Financial Instruments
	The following table summarizes the Company’s outstanding interest-rate and foreign currency swap contracts as of September 30, 2013 (dollars and GBP in thousands):
	Date Entered	Maturity Date	Hedge		Fixed			Floating/Exchange		Notional/			Fair Value(1)
			Designation		Rate/Buy			Rate Index		Sell Amount
					Amount
	July 2005(2)	July 2020	Cash Flow		3.82		%	BMA Swap Index		$	45,600		$	(6,319	)
	November 2008(3)	October 2016	Cash Flow		5.95		%	1 Month LIBOR+1.50%		$	26,600		$	(2,964	)
	July 2012(4)	June 2016	Cash Flow		1.81		%	1 Month GBP LIBOR+1.20%		£	137,000		$	1,564
	July 2012(5)	June 2016	Cash Flow		$	68,200		Buy USD/Sell GBP		£	43,500		$	(1,897	)
	(1)          Interest-rate and foreign currency swap assets are recorded in other assets, net and interest-rate and foreign currency swap liabilities are recorded in accounts payable and accrued liabilities on the condensed consolidated balance sheets.
	(2)          Represents three interest-rate swap contracts with an aggregate notional amount of $45.6 million which hedge fluctuations in interest payments on variable-rate secured debt due to overall changes in hedged cash flows.
	(3)          Acquired in conjunction with mortgage debt assumed related to real estate acquired on December 28, 2010. Hedges fluctuations in interest payments on variable-rate secured debt due to fluctuations in the underlying benchmark interest rate.
	(4)          Hedges fluctuations in interest payments on variable-rate unsecured debt due to fluctuations in the underlying benchmark interest rate.
	(5)          Currency swap contract (buy USD/sell GBP) hedges the foreign currency exchange risk related to a portion of the Company’s forecasted interest receipts on GBP denominated senior unsecured notes. Represents six foreign exchange contracts to sell £7.2 million at a rate of 1.5695 on various dates through June 2016.
	The Company uses derivative instruments to mitigate the effects of interest rate and foreign currency fluctuations on specific forecasted transactions as well as recognized financial obligations or assets. Utilizing derivative instruments allows the Company to manage the risk of fluctuations in interest and foreign currency rates related to the potential impact these changes could have on future earnings and forecasted cash flows. The Company does not use derivative instruments for speculative or trading purposes.
	The primary risks associated with derivative instruments are market and credit risk. Market risk is defined as the potential for loss in value of a derivative instrument due to adverse changes in market prices. Credit risk is the risk that one of the parties to a derivative contract fails to perform or meet its financial obligation. The Company does not obtain collateral associated with its derivative contracts, but monitors the credit standing of its counterparties on a regular basis. Should a counterparty fail to perform, the Company would incur a financial loss to the extent that the associated derivative contract was in an asset position. At September 30, 2013, the Company does not anticipate non-performance by the counterparties to its outstanding derivative contracts.
	On July 27, 2012, the Company entered into a foreign currency swap contract to hedge the foreign currency exchange risk related to a portion of the forecasted interest receipts from its GBP denominated senior unsecured notes (see additional discussion of the Four Seasons senior unsecured notes in Note 9). The cash flow hedge has a fixed USD/GBP exchange rate of 1.5695 (buy $11.4 million and sell £7.2 million semi-annually) for a portion of its forecasted semi-annual cash receipts denominated in GBP. The foreign currency swap contract matures in June 2016 (the end of the non-call period of the senior unsecured notes). The fair value of the contract at September 30, 2013 was a liability of $1.9 million and is included in accounts payable and accrued liabilities. During the nine months ended September 30, 2013, there was no ineffective portion related to this hedge.
	On July 27, 2012, the Company entered into an interest-rate swap contract that is designated as hedging the interest payments on its GBP denominated Term Loan due to fluctuations in the underlying benchmark interest rate (see additional discussion of the Term Loan in Note 10). The cash flow hedge has a notional amount of £137 million and expires in June 2016 (the maturity of the Term Loan). The fair value of the contract at September 30, 2013 was $1.6 million and is included in other assets, net. During the nine months ended September 30, 2013, there was no ineffective portion related to this hedge.
	At September 30, 2013, the Company expects that the hedged forecasted transactions for each of the outstanding qualifying cash flow hedging relationships remain probable of occurring, and as a result, no gains or losses recorded to accumulated other comprehensive loss are expected to be reclassified to earnings.
	To illustrate the effect of movements in the interest rate and foreign currency markets, the Company performed a market sensitivity analysis on its outstanding hedging instruments. The Company applied various basis point spreads to the underlying interest rate curves and foreign currency exchange rates of the derivative portfolio in order to determine the instruments’ change in fair value. The following table summarizes the results of the analysis performed (dollars in thousands):
			Effects of Change in Interest and Foreign Currency Rates
	Date Entered	Maturity Date	+50 Basis			-50 Basis			+100 Basis			-100 Basis
			Points			Points			Points			Points
	July 2005	July 2020	$	1,442		$	(1,455	)	$	2,890		$	(2,904	)
	November 2008	October 2016	404			(379		)	796			(770		)
	July 2012 (interest-rate swap)	June 2016	3,038			(2,902		)	6,008			(5,872		)
	July 2012 (foreign currency swap)	June 2016	(580		)	123			(932		)	475

Impairments

Impairments	9 Months Ended
	Sep. 30, 2013
Impairments	'
Impairments	'
	(20) Impairments
	During the three months ended September 30, 2012, the Company executed an expansion of its relationship with its tenant General Atomics in Poway, CA, to a total of 396,000 square feet, consisting of the following: (i) a lease extension of 281,000 square feet through June 2024, (ii) a new 10-year lease for a 115,000 square foot building to be developed and (iii) the purchase of a 19 acre land parcel from the Company for $19 million. As a result of the land sale, the Company recognized an impairment charge of $7.9 million, which reduced the carrying value of the Company’s investment from $27 million to the $19 million sales price. The fair value of the Company’s land parcel was based on the sales price from its disposition in conjunction with this transaction. The contractual sales price of the land parcel was considered to be a Level 2 measurement within the fair value hierarchy.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events	'
Subsequent Events	'
	(21) Subsequent Events
	The Company’s Board of Directors, after its deliberations during the third quarter 2013, terminated its former Chairman, Chief Executive Officer and President on October 2, 2013. As a result of the termination, general and administrative expenses for the three and nine months ended September 30, 2013 include severance-related charges of $26.4 million related to: (i) the acceleration of $16.7 million of deferred compensation for restricted stock units and options that vested upon termination; and (ii) severance payments and other costs of approximately $9.7 million.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Management is required to make estimates and assumptions in the preparation of financial statements in conformity with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from management’s estimates.
	The condensed consolidated financial statements include the accounts of HCP, Inc., its wholly-owned subsidiaries and joint ventures or variable interest entities (“VIEs”) that it controls through voting rights or other means. Intercompany transactions and balances have been eliminated upon consolidation. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the Company’s financial position, results of operations and cash flows have been included. Operating results for the nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. The accompanying unaudited interim financial information should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2012 included in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”).
	Certain amounts in the Company’s condensed consolidated financial statements have been reclassified for prior periods to conform to the current period presentation. Assets sold or held for sale and associated liabilities have been reclassified on the condensed consolidated balance sheets and the related operating results reclassified from continuing to discontinued operations on the condensed consolidated statements of income (see Note 4).
Acquisition Costs	'
	Acquisition Costs
	Transaction costs related to acquisitions of businesses, including properties, are expensed as incurred.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-10”). This update permits the Fed Funds Effective Swap Rate (“OIS”) to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the interest rates on direct Treasury obligations of the U.S. government (“UST”) and the London Interbank Offered Rate (“LIBOR”). The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of ASU 2013-10 on July 17, 2013 did not have a material impact on the Company’s consolidated financial position or results of operations.
	In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The adoption of ASU 2013-02 on January 1, 2013 did not have a material impact on the Company’s consolidated financial position or results of operations.
	In July 2012, the FASB issued Accounting Standards Update No. 2012-01, Continuing Care Retirement Communities—Refundable Advance Fees (“ASU 2012-01”). This update clarifies the situations in which recognition of deferred revenue for refundable advance fees is appropriate. The adoption of ASU 2012-01 on January 1, 2013 did not have a material impact on the Company’s consolidated financial position or results of operations.

Real_Estate_Property_Investmen1

Real Estate Property Investments (Tables)	9 Months Ended
	Sep. 30, 2013
Acquisition	'
Schedule of real estate acquisitions	'
	A summary of real estate acquisitions for the nine months ended September 30, 2012 follows (in thousands):
		Consideration							Assets Acquired
	Segment	Cash Paid		Debt and Other		Noncontrolling			Real Estate		Net
				Liabilities		Interest					Intangibles
				Assumed
	Medical office	$	157,556	$	35,120	$	27,346	-1	$	170,443	$	49,579
	Life science	7,964		—		86			7,580		470
	Senior housing	3,860		—		—			3,541		319
	Hospital	3,000		—		—			3,000		—
		$	172,380	$	35,120	$	27,432		$	184,564	$	50,368
	(1)          Represents non-managing member limited liability company units.
Blackstone JV | Operating segment | Senior housing	'
Acquisition	'
Schedule of unaudited pro forma consolidated results of operations	'
	The following unaudited pro forma consolidated results of operations assume that the Blackstone JV Acquisition was completed as of January 1, 2012 (in thousands, except per share amounts):
		Three Months		Nine Months
		Ended		Ended
		September 30, 2012		September 30, 2012
	Revenues	$	494,516	$	1,450,349
	Net income	206,448		622,797
	Net income applicable to HCP, Inc.	203,513		613,727
	Basic earnings per common share	0.45		1.35
	Diluted earnings per common share	0.45		1.34

Dispositions_of_Real_Estate_an1

Dispositions of Real Estate and Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2013
Dispositions of Real Estate and Discontinued Operations	'
Summary of operating loss from discontinued operations and gain on sales of real estate included in discontinued operations	'
	The following table summarizes operating loss from discontinued operations and gain on sales of real estate included in discontinued operations (dollars in thousands):
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013		2012
	Rental and related revenues	$	6,460		$	10,260	$	20,458	$	31,023
	Depreciation and amortization expenses	1,433			2,969		4,346		11,876
	Operating expenses	3			18		9		75
	Other income (expense), net	(74		)	593		229		2,452
	Income before gain on sales of real estate	$	5,098		$	6,680	$	15,874	$	16,620
	Gain on sales of real estate, net of income taxes	$	8,298		$	—	$	9,185	$	2,856
	Number of properties included in discontinued operations	5			9		6		10

Net_Investment_in_Direct_Finan1

Net Investment in Direct Financing Leases (Tables)	9 Months Ended
	Sep. 30, 2013
Net Investment in Direct Financing Leases	'
Schedule of net investment in direct financing leases	'
	The components of net investment in direct financing leases (“DFLs”) consisted of the following (dollars in thousands):
		September 30,			December 31,
		2013			2012
	Minimum lease payments receivable(1)	$	24,811,003		$	25,217,520
	Estimated residual values	4,010,514			4,010,514
	Less unearned income	(21,828,165		)	(22,346,641		)
	Net investment in direct financing leases	$	6,993,352		$	6,881,393
	Properties subject to direct financing leases	361			361
	(1)          The minimum lease payments receivable are primarily attributable to HCR ManorCare, Inc. (“HCR ManorCare”) ($23.7 billion and $24.0 billion at September 30, 2013 and December 31, 2012, respectively). The triple-net master lease with HCR ManorCare provides for annual rent of $506 million beginning April 1, 2013 (prior to April 1, 2013, annual rent was $489 million). The rent increases by 3.5% per year over the next three years and by 3% for the remaining portion of the initial lease term. The properties are grouped into four pools, and HCR ManorCare has a one-time extension option for each pool with rent increased for the first year of the extension option to the greater of fair market rent or a 3% increase over the rent for the prior year. Including the extension options, which the Company determined to be bargain renewal options, the four leased pools had total initial available terms ranging from 23 to 35 years.

Loans_Receivable_Tables

Loans Receivable (Tables)	9 Months Ended
	Sep. 30, 2013
Loans Receivable	'
Schedule of loans receivable	'
	The following table summarizes the Company’s loans receivable (in thousands):
		September 30, 2013								December 31, 2012
		Real Estate		Other			Total			Real Estate		Other			Total
		Secured		Secured						Secured		Secured
	Mezzanine	$	—	$	245,535		$	245,535		$	—	$	145,150		$	145,150
	Other(1)	161,471		—			161,471			147,264		—			147,264
	Unamortized discounts, fees and costs	—		(2,793		)	(2,793		)	—		(2,974		)	(2,974		)
	Allowance for loan losses	—		(13,410		)	(13,410		)	—		(13,410		)	(13,410		)
		$	161,471	$	229,332		$	390,803		$	147,264	$	128,766		$	276,030
	(1)          Includes $110 million and $72 million at September 30, 2013 and December 31, 2012, respectively, of construction loans outstanding related to senior housing development projects.  At September 30, 2013, the Company had $37 million remaining in its commitments to fund development projects.

Investments_in_and_Advances_to1

Investments in and Advances to Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2013
Investments in and Advances to Unconsolidated Joint Ventures	'
Company owned interests in entities, accounted under equity method	'
	The Company owns interests in the following entities that are accounted for under the equity method at September 30, 2013 (dollars in thousands):
	Entity(1)	Properties/Segment		Investment(2)			Ownership%
	HCR ManorCare	post-acute/skilled nursing operations		$	85,777		9.5
	HCP Ventures III, LLC	13 medical office		7,251			30
	HCP Ventures IV, LLC	54 medical office and 4 hospital		30,420			20
	HCP Life Science(3)	4 life science		68,992			50-63
	Horizon Bay Hyde Park, LLC	1 senior housing		6,725			72
	Suburban Properties, LLC	1 medical office		6,666			67
	Advances to unconsolidated joint ventures, net			173
				$	206,004
	Edgewood Assisted Living Center, LLC	1 senior housing		$	(429	)	45
	Seminole Shores Living Center, LLC	1 senior housing		(697		)	50
				$	(1,126	)
	(1)          These entities are not consolidated because the Company does not control, through voting rights or other means, the joint ventures.
	(2)          Represents the carrying value of the Company’s investment in the unconsolidated joint venture. Negative balances are recorded in accounts payable and accrued liabilities on the Company’s Condensed Consolidated Balance Sheets.
	(3)          Includes three unconsolidated joint ventures between the Company and an institutional capital partner for which the Company is the managing member. HCP Life Science includes the following partnerships (and the Company’s ownership percentage): (i) Torrey Pines Science Center, LP (50%); (ii) Britannia Biotech Gateway, LP (55%); and (iii) LASDK, LP (63%).
Summarized combined financial information for unconsolidated joint ventures	'
	Summarized combined financial information for the Company’s unconsolidated joint ventures follows (in thousands):
		September 30,			December 31,
		2013			2012
	Real estate, net	$	3,676,367		$	3,731,740
	Goodwill and other assets, net	5,802,930			5,734,318
	Total assets	$	9,479,297		$	9,466,058
	Capital lease obligations and mortgage debt	$	6,782,574		$	6,875,932
	Accounts payable	1,060,153			971,095
	Other partners’ capital	1,452,308			1,435,885
	HCP’s capital(1)	184,262			183,146
	Total liabilities and partners’ capital	$	9,479,297		$	9,466,058
	(1)          The combined basis difference of the Company’s investments in these joint ventures of $20 million, as of September 30, 2013, is primarily attributable to goodwill, real estate, capital lease obligations, deferred tax assets and lease related net intangibles.
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013		2012
	Total revenues	$	1,055,889		$	1,057,567		$	3,208,752	$	3,196,086
	Net income (loss)	1,739			(8,851		)	22,232		8,416
	HCP’s share in earnings (1)	13,892			13,396			44,278		42,803
	Fees earned by HCP	464			460			1,406		1,423
	Distributions received by HCP	1,390			1,419			3,918		4,826
	(1)          The Company’s joint venture interest in HCR ManorCare is accounted for using the equity method and results in an ongoing reduction of DFL income, proportional to HCP’s ownership in HCR ManorCare. The Company recorded a reduction of $15.4 million and $46.6 million for the three and nine months ended September 30, 2013, respectively. The Company recorded a reduction of $14.9 million and $44.4 million for the three and nine months ended September 30, 2012, respectively. Further, the Company’s share of earnings from HCR ManorCare (equity income) increases for the corresponding reduction of related lease expense recognized at the HCR ManorCare level.

Other_Assets_Tables

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Other Assets.	'
Schedule of other assets	'
	The Company’s other assets consisted of the following (in thousands):
		September 30,		December 31,
		2013		2012
	Straight-line rent assets, net of allowance of $34,123 and $33,521, respectively	$	358,514	$	306,294
	Marketable debt securities, net(1)	238,834		222,809
	Leasing costs, net	98,406		93,763
	Deferred financing costs, net	37,379		45,490
	Goodwill	50,346		50,346
	Marketable equity securities	—		24,829
	Other(2)	52,518		44,989
	Total other assets	$	835,997	$	788,520
	(1)          Includes £137 million ($222 million and $223 million at September 30, 2013 and December 31, 2012, respectively) of Four Seasons senior unsecured notes translated into U.S. dollars (see below for additional information).
	(2)          Includes a $5.4 million allowance for losses related to accrued interest receivable on the Delphis loan, which accrued interest is included in other assets. At both September 30, 2013 and December 31, 2012, the carrying value of interest accrued related to the Delphis loan was zero. See Note 6 for additional information about the Delphis loan and the related impairment. At both September 30, 2013 and December 31, 2012, includes a loan receivable of $10 million from HCP Ventures IV, LLC, an unconsolidated joint venture (see Note 7 for additional information) with an interest rate of 12% which matures in May 2014. The loan is secured by HCP’s joint venture partner’s 80% partnership interest in the joint venture.

Debt_Tables

Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Debt	'
Summary of stated debt maturities and scheduled principal repayments	'
	The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at September 30, 2013 (in thousands):
	Year	Line of		Term Loan(1)		Senior			Mortgage			Total(2)
		Credit				Unsecured			Debt
						Notes
	2013 (Three months)	$	—	$	—	$	400,000		$	14,003		$	414,003
	2014	—		—		487,000			180,042			667,042
	2015	—		—		400,000			308,421			708,421
	2016	285,000		221,748		900,000			291,738			1,698,486
	2017	—		—		750,000			550,477			1,300,477
	Thereafter	—		—		3,650,000			71,825			3,721,825
		285,000		221,748		6,587,000			1,416,506			8,510,254
	(Discounts) and premiums, net	—		—		(21,066		)	(6,099		)	(27,165		)
		$	285,000	$	221,748	$	6,565,934		$	1,410,407		$	8,483,089
	(1)          Represents £137 million translated into U.S. dollars.
	(2)          Excludes $78 million of other debt that represents Life Care Bonds that have no scheduled maturities.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies.	'
Schedule of concentration of credit risk by segments	'
	Segment Concentrations:
		Percentage of										Percentage of					Percentage of
		Senior Housing Gross Assets										Senior Housing Revenues					Senior Housing Revenues
		September 30,				December 31,					Three Months Ended September 30,					Nine Months Ended September 30,
	Operators	2013			2012					2013				2012		2013			2012
	Emeritus	37.3	%		37.3		%			34.8			%	20.3	%	34.6		%	20.5	%
	Sunrise Senior Living (“Sunrise”)(1)	17.2			17.5					11.5				15.6		12.2			15.7
	HCR ManorCare	11			11					9.6				11.7		9.5			11.8
	Brookdale Senior Living (“Brookdale”)(2)	10.6			10.7					11.7				14.4		11.6			14.2
		Percentage of Post-Acute/										Percentage of Post-Acute/					Percentage of Post-Acute/
		Skilled Nursing Gross Assets										Skilled Nursing Revenues					Skilled Nursing Revenues
		September 30,				December 31,					Three Months Ended September 30,					Nine Months Ended September 30,
	Operators	2013			2012					2013				2012		2013			2012
	HCR ManorCare	88.1	%		89.3		%			72.7			%	87.2	%	81.3		%	90.9	%
	Total Company Concentrations:
		Percentage of										Percentage of					Percentage of
		Total Company Assets										Total Company Revenues					Total Company Revenues
		September 30,				December 31,					Three Months Ended September 30,					Nine Months Ended September 30,
	Operators	2013			2012					2013				2012		2013			2012
	HCR ManorCare	32.1	%		31.5		%			27			%	30.7	%	28		%	31.2	%
	Emeritus	14.6			14.3					12.2				6.6		12.6			6.7
	Sunrise(1)	6.8			6.7					4				5		4.4			5.2
	Brookdale(2)	4.2			4.1					4.1				4.7		4.2			4.7
	(1)          Certain of the Company’s properties are leased to tenants who have entered into management contracts with Sunrise to operate the respective property on their behalf. The Company’s concentration of gross assets includes properties directly leased to Sunrise and properties that are managed by Sunrise on behalf of third party tenants.
	(2)         At September 30, 2013 and December 31, 2012, Brookdale percentages exclude $778 million and $759 million, respectively, of senior housing assets related to 21 senior housing facilities that Brookdale operates on the Company’s behalf under a RIDEA structure. Assuming that these assets were attributable to Brookdale, the percentage of senior housing assets for Brookdale would be 21% at both September 30, 2013 and December 31, 2012. Assuming that these assets were attributable to Brookdale, the percentage of total assets for Brookdale would be 8% at both September 30, 2013 and December 31, 2012. For the three and nine months ended September 30, 2013, Brookdale percentages exclude $37.6 million and $112.0 million, respectively, of senior housing revenues related to these facilities. Assuming that these revenues were attributable to Brookdale, the percentage of senior housing revenues for Brookdale would be 31% for both the three and nine months ended September 30, 2013. Assuming that these revenues were attributable to Brookdale, the percentage of total revenues for Brookdale would be 11% for both the three and nine months ended September 30, 2013. For the three and nine months ended September 30, 2012, Brookdale percentages exclude $36.1 million and $106.8 million, respectively, of senior housing revenues related to these facilities. Assuming that these revenues were attributable to Brookdale, the percentage of senior housing revenues for Brookdale would be 38% for both the three and nine months ended September 30, 2012. Assuming that these revenues were attributable to Brookdale, the percentage of total revenues for Brookdale would be 12% for both the three and nine months ended September 30, 2012.
Summary of HCR ManorCare's condensed consolidated financial information	'
	HCR ManorCare’s summarized condensed consolidated financial information follows (in millions):
		September 30,			December 31,
		2013			2012
	Real estate and other property, net	$	3,008.70		$	3,046.60
	Cash and cash equivalents	158.5			120.5
	Goodwill, intangible and other assets, net	5,563.70			5,625.40
	Total assets	$	8,730.90		$	8,792.50
	Debt and financing obligations	$	6,289.00		$	6,374.60
	Accounts payable, accrued liabilities and other	1,021.80			1,021.90
	Total equity	1,420.10			1,396.00
	Total liabilities and equity	$	8,730.90		$	8,792.50
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Revenues	$	1,030.30		$	1,037.80		$	3,131.70		$	3,113.30
	Operating, general and administrative expense	(888.1		)	(880.8		)	(2,677.4		)	(2,663.7		)
	Depreciation and amortization expense	(36.3		)	(41.6		)	(110.0		)	(125.2		)
	Interest expense	(103.8		)	(105.2		)	(312.3		)	(317.3		)
	Other income, net	2.3			3.7			4			10.1
	Income before income taxes	4.4			13.9			36			17.2
	Income taxes	(1.8		)	(4.8		)	(11.6		)	(4.7		)
	Net income	$	2.6		$	9.1		$	24.4		$	12.5

Equity_Tables

Equity (Tables)	9 Months Ended
	Sep. 30, 2013
Equity	'
Schedule of common stock, cash dividends	'
	Declaration Date	Record Date		Amount			Dividend
				Per Share			Payable Date
	January 24	February 4		$	0.525		February 19
	April 25	May 6		0.525			May 21
	July 25	August 5		0.525			August 20
	October 24	November 4		0.525			November 19
Schedule of company's other common stock issuances	'
	The following is a summary of the Company’s other common stock issuances (shares in thousands):
		Nine Months Ended September 30,
		2013		2012
	Dividend Reinvestment and Stock Purchase Plan	1,681		675
	Conversion of DownREIT units(1)	85		72
	Exercise of stock options	875		2,451
	Vesting of restricted stock units(2)	110		385
	(1)          Non-managing member LLC units.
	(2)          Issued under the Company’s 2006 Performance Incentive Plan.
Schedule of accumulated other comprehensive income (loss)	'
	The following is a summary of the Company’s accumulated other comprehensive loss (in thousands):
		September 30,			December 31,
		2013			2012
	Unrealized gains on available for sale securities	$	—		$	7,776
	Unrealized losses on cash flow hedges, net	(12,066		)	(18,452		)
	Supplemental Executive Retirement Plan minimum liability	(2,983		)	(3,150		)
	Cumulative foreign currency translation adjustment	(830		)	(827		)
	Total accumulated other comprehensive loss	$	(15,879	)	$	(14,653	)

Segment_Disclosures_Tables

Segment Disclosures (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Disclosures	'
Information of revenue of reportable segment	'
	Summary information for the reportable segments follows (in thousands):
	For the three months ended September 30, 2013:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	149,443		$	37,589		$	3,121		$	—		$	190,153	$	162,391	$	148,997
	Post-acute/skilled	138,289			—			38,642			—			176,931		137,642		120,258
	Life science	72,531			—			—			1			72,532		58,440		56,352
	Medical office	88,473			—			—			463			88,936		52,255		52,214
	Hospital	15,091			—			315			—			15,406		14,119		14,148
	Total	$	463,827		$	37,589		$	42,078		$	464		$	543,958	$	424,847	$	391,969
	For the three months ended September 30, 2012:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	114,661		$	36,076		$	877		$	—		$	151,614	$	125,865	$	113,401
	Post-acute/skilled	135,183			—			9,135			—			144,318		135,029		116,573
	Life science	71,194			—			—			1			71,195		59,403		56,341
	Medical office	85,800			—			—			459			86,259		50,852		49,669
	Hospital	14,414			—			266			—			14,680		13,526		13,165
	Total	$	421,252		$	36,076		$	10,278		$	460		$	468,066	$	384,675	$	349,149
	For the nine months ended September 30, 2013:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	448,600		$	112,070		$	8,328		$	—		$	568,998	$	487,501	$	440,395
	Post-acute/skilled	411,912			—			59,656			—			471,568		409,965		356,544
	Life science	221,088			—			—			3			221,091		179,775		170,957
	Medical office	265,902			—			—			1,403			267,305		160,170		157,742
	Hospital	33,703			—			627			—			34,330		30,882		42,369
	Total	$	1,381,205		$	112,070		$	68,611		$	1,406		$	1,563,292	$	1,268,293	$	1,168,007
	For the nine months ended September 30, 2012:
	Segments	Rental			Resident Fees			Interest			Investment			Total		NOI(2)		Adjusted
		Revenues(1)			and Services			Income			Management			Revenues				NOI(2)
											Fee Income							(Cash NOI)
	Senior housing	$	341,353		$	107,824		$	1,686		$	—		$	450,863	$	379,251	$	341,794
	Post-acute/skilled	403,209			—			9,842			—			413,051		402,690		345,936
	Life science	215,569			—			—			3			215,572		177,339		171,179
	Medical office	246,661			—			—			1,420			248,081		148,030		144,272
	Hospital	42,647			—			785			—			43,432		39,919		38,696
	Total	$	1,249,439		$	107,824		$	12,313		$	1,423		$	1,370,999	$	1,147,229	$	1,041,877
	(1)          Represents rental and related revenues, tenant recoveries and income from DFLs.
	(2)          NOI is a non-GAAP supplemental financial measure used to evaluate the operating performance of real estate. The Company defines NOI as rental and related revenues, including tenant recoveries, resident fees and services, and income from DFLs, less property level operating expenses. NOI excludes interest income, investment management fee income, interest expense, depreciation and amortization, general and administrative expenses, litigation settlement, impairments, impairment recoveries, other income, net, income taxes, equity income from and impairments of investments in unconsolidated joint ventures, and discontinued operations. The Company believes NOI provides relevant and useful information because it reflects only income and operating expense items that are incurred at the property level and presents them on an unleveraged basis. Adjusted NOI is calculated as NOI after eliminating the effects of straight-line rents, DFL accretion, amortization of above and below market lease intangibles, and lease termination fees. Adjusted NOI is sometimes referred to as “cash NOI.” The Company uses NOI and adjusted NOI to make decisions about resource allocations and to assess and compare property level performance. The Company believes that net income is the most directly comparable GAAP measure to NOI. NOI should not be viewed as an alternative measure of operating performance to net income as defined by GAAP because it does not reflect the aforementioned excluded items. Further, the Company’s definition of NOI may not be comparable to the definition used by other REITs or real estate companies, as those companies may use different methodologies for calculating NOI.
Reconciliation of reported net income to NOI and adjusted NOI	'
	The following is a reconciliation of reported net income to NOI and adjusted NOI (in thousands):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Net income	$	236,858		$	199,043		$	687,367		$	600,582
	Interest income	(42,078		)	(10,278		)	(68,611		)	(12,313		)
	Investment management fee income	(464		)	(460		)	(1,406		)	(1,423		)
	Interest expense	108,088			103,355			326,094			309,399
	Depreciation and amortization	104,859			87,170			317,430			254,463
	General and administrative	45,423			19,415			90,080			54,299
	Impairments	—			7,878			—			7,878
	Other income, net	(1,584		)	(770		)	(16,887		)	(2,232		)
	Income taxes	1,033			(602		)	3,563			(1,145		)
	Equity income from unconsolidated joint ventures	(13,892		)	(13,396		)	(44,278		)	(42,803		)
	Total discontinued operations	(13,396		)	(6,680		)	(25,059		)	(19,476		)
	NOI	424,847			384,675			1,268,293			1,147,229
	Straight-line rents	(12,604		)	(11,821		)	(28,559		)	(33,608		)
	DFL accretion	(19,822		)	(23,433		)	(65,386		)	(71,072		)
	Amortization of above and below market lease intangibles, net	(346		)	(533		)	(6,414		)	(1,855		)
	Lease termination fees	(205		)	(175		)	(220		)	(574		)
	NOI adjustments related to discontinued operations	99			436			293			1,757
	Adjusted NOI	$	391,969		$	349,149		$	1,168,007		$	1,041,877
Reconciliation of company's assets to total assets	'
	The Company’s total assets by segment were (in thousands):
		September 30,			December 31,
	Segments	2013			2012
	Senior housing	$	7,811,003		$	7,654,221
	Post-acute/skilled nursing	6,269,566			6,080,826
	Life science	3,969,723			3,932,397
	Medical office	2,686,241			2,661,394
	Hospital	542,187			505,393
	Gross segment assets	21,278,720			20,834,231
	Accumulated depreciation and amortization	(2,192,342		)	(1,900,221		)
	Net segment assets	19,086,378			18,934,010
	Assets held-for-sale, net	130,765			145,621
	Other non-segment assets	672,366			835,924
	Total assets	$	19,889,509		$	19,915,555

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Common Share	'
Computation of basic and diluted earnings per share	'
	The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Numerator
	Income from continuing operations	$	223,462		$	192,363		$	662,308		$	581,106
	Noncontrolling interests’ share in continuing operations	(3,102		)	(2,935		)	(9,625		)	(9,070		)
	Income from continuing operations applicable to HCP, Inc.	220,360			189,428			652,683			572,036
	Preferred stock dividends	—			—			—			(17,006		)
	Participating securities’ share in continuing operations	(474		)	(479		)	(1,330		)	(2,154		)
	Income from continuing operations applicable to common shares	219,886			188,949			651,353			552,876
	Discontinued operations	13,396			6,680			25,059			19,476
	Net income applicable to common shares	$	233,282		$	195,629		$	676,412		$	572,352
	Denominator
	Basic weighted average common shares	455,345			429,557			454,553			420,049
	Dilutive potential common shares	733			1,221			835			1,355
	Diluted weighted average common shares	456,078			430,778			455,388			421,404
	Basic earnings per common share
	Income from continuing operations	$	0.48		$	0.44		$	1.43		$	1.32
	Discontinued operations	0.03			0.02			0.06			0.04
	Net income applicable to common shares	$	0.51		$	0.46		$	1.49		$	1.36
	Diluted earnings per common share
	Income from continuing operations	$	0.48		$	0.44		$	1.43		$	1.32
	Discontinued operations	0.03			0.01			0.06			0.04
	Net income applicable to common shares	$	0.51		$	0.45		$	1.49		$	1.36

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2013
Supplemental Cash Flow Information	'
Supplemental Cash Flow Information	'
	The following table provides supplemental cash flow information (in thousands):
		Nine Months Ended September 30,
		2013			2012
	Supplemental cash flow information:
	Interest paid, net of capitalized interest	$	363,229		$	339,190
	Income taxes paid (refunded)	(2		)	1,645
	Capitalized interest	10,852			18,517
	Supplemental schedule of non-cash investing activities:
	Accrued construction costs	18,495			18,024
	Fair value of real estate acquired in exchange for sale of real estate	15,204			—
		Nine Months Ended September 30,
		2013		2012
	Supplemental schedule of non-cash financing activities:
	Vesting of restricted stock units	110		385
	Cancellation of restricted stock	17		6
	Conversion of non-managing member units into common stock	2,997		2,398
	Noncontrolling interests issued in connection with acquisitions	—		27,432
	Mortgages and other liabilities assumed with real estate acquisitions	12,728		35,120
	Unrealized gains on available-for-sale securities and derivatives designated as cash flow hedges, net	6,990		2,203

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2013
Variable Interest Entities	'
Variable Interest Entities	'
	The carrying value and classification of the related assets, liabilities and maximum exposure to loss as a result of the Company’s involvement with these VIEs are presented below at September 30, 2013 (in thousands):
	VIE Type	Maximum Loss		Asset/Liability Type	Carrying
		Exposure(1)			Amount
	VIE tenants—operating leases	$	262,598	Lease intangibles, net and straight-line rent receivables	$	14,526
	VIE tenants—DFLs	1,091,935		Net investment in DFLs	602,366
	Loan—senior secured	29,151		Loans receivable, net	29,151
	Debt investment	16,984		Marketable debt securities	16,984
	(1)         The Company’s maximum loss exposure related to the VIE tenants represents the future minimum lease payments over the remaining term of the respective leases, which may be mitigated by re-leasing the properties to new tenants. The Company’s maximum loss exposure related to its loans and marketable debt securities to the VIE borrowers represents its current aggregate carrying amount.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements	'
Fair value measurements of financial assets and liabilities	'
	The financial assets and liabilities carried at fair value on a recurring basis at September 30, 2013 follow (in thousands):
	Financial Instrument(1)	Fair Value			Level 2			Level 3
	Currency swap liabilities	$	(1,897	)	$	(1,897	)	$	—
	Interest-rate swap assets	1,564			1,564			—
	Interest-rate swap liabilities	(9,283		)	(9,283		)	—
	Warrants	180			—			180
		$	(9,436	)	$	(9,616	)	$	180
	(1)          Interest rate and currency swaps as well as common stock warrant fair values are determined based on observable and unobservable market assumptions utilizing standardized derivative pricing models.

Disclosures_About_Fair_Value_o1

Disclosures About Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosures About Fair Value of Financial Instruments	'
Summary of the carrying values and fair values of financial instruments	'
	The table below summarizes the carrying values and fair values of the Company’s financial instruments (in thousands):
		September 30, 2013				December 31, 2012
		Carrying		Fair Value		Carrying		Fair Value
		Value				Value
	Loans receivable, net(2)	$	390,803	$	402,243	$	276,030	$	279,850
	Marketable debt securities(1)	238,834		272,745		222,809		234,137
	Marketable equity securities(1)	—		—		24,829		24,829
	Warrants(3)	180		180		670		670
	Bank line of credit(2)	285,000		285,000		—		—
	Term loan(2)	221,748		221,748		222,694		222,694
	Senior unsecured notes(1)	6,565,934		7,027,982		6,712,624		7,432,012
	Mortgage debt(2)	1,410,407		1,452,732		1,676,544		1,771,155
	Other debt(2)	77,503		77,503		81,958		81,958
	Interest-rate swap assets(2)	1,564		1,564		89		89
	Interest-rate swap liabilities(2)	9,283		9,283		12,699		12,699
	Currency swap liabilities(2)	1,897		1,897		2,641		2,641
	(1)          Level 1: Fair value calculated based on quoted prices in active markets.
	(2)          Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing model derived valuations in which significant inputs or value drivers are observable in active markets.
	(3)          Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2013
Derivative Financial Instruments	'
Schedule of derivative instruments	'
	The following table summarizes the Company’s outstanding interest-rate and foreign currency swap contracts as of September 30, 2013 (dollars and GBP in thousands):
	Date Entered	Maturity Date	Hedge		Fixed			Floating/Exchange		Notional/			Fair Value(1)
			Designation		Rate/Buy			Rate Index		Sell Amount
					Amount
	July 2005(2)	July 2020	Cash Flow		3.82		%	BMA Swap Index		$	45,600		$	(6,319	)
	November 2008(3)	October 2016	Cash Flow		5.95		%	1 Month LIBOR+1.50%		$	26,600		$	(2,964	)
	July 2012(4)	June 2016	Cash Flow		1.81		%	1 Month GBP LIBOR+1.20%		£	137,000		$	1,564
	July 2012(5)	June 2016	Cash Flow		$	68,200		Buy USD/Sell GBP		£	43,500		$	(1,897	)
	(1)          Interest-rate and foreign currency swap assets are recorded in other assets, net and interest-rate and foreign currency swap liabilities are recorded in accounts payable and accrued liabilities on the condensed consolidated balance sheets.
	(2)          Represents three interest-rate swap contracts with an aggregate notional amount of $45.6 million which hedge fluctuations in interest payments on variable-rate secured debt due to overall changes in hedged cash flows.
	(3)          Acquired in conjunction with mortgage debt assumed related to real estate acquired on December 28, 2010. Hedges fluctuations in interest payments on variable-rate secured debt due to fluctuations in the underlying benchmark interest rate.
	(4)          Hedges fluctuations in interest payments on variable-rate unsecured debt due to fluctuations in the underlying benchmark interest rate.
	(5)          Currency swap contract (buy USD/sell GBP) hedges the foreign currency exchange risk related to a portion of the Company’s forecasted interest receipts on GBP denominated senior unsecured notes. Represents six foreign exchange contracts to sell £7.2 million at a rate of 1.5695 on various dates through June 2016.
Schedule of effect of change in interest and foreign currency rate	'
	The following table summarizes the results of the analysis performed (dollars in thousands):
			Effects of Change in Interest and Foreign Currency Rates
	Date Entered	Maturity Date	+50 Basis			-50 Basis			+100 Basis			-100 Basis
			Points			Points			Points			Points
	July 2005	July 2020	$	1,442		$	(1,455	)	$	2,890		$	(2,904	)
	November 2008	October 2016	404			(379		)	796			(770		)
	July 2012 (interest-rate swap)	June 2016	3,038			(2,902		)	6,008			(5,872		)
	July 2012 (foreign currency swap)	June 2016	(580		)	123			(932		)	475

Business_Details

Business (Details)	9 Months Ended
	Sep. 30, 2013
	item
Business	'
Number of reportable segments	5
Number of products in reportable segment	5

Real_Estate_Property_Investmen2

Real Estate Property Investments (Details) (Operating segment, USD $)

9 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Mar. 31, 2013

Sep. 30, 2012

Mar. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Mar. 31, 2013

Senior housing

Senior housing

Blackstone JV

Blackstone JV

Blackstone JV

Blackstone JV

Blackstone JV

Blackstone JV

Blackstone JV

Blackstone JV

Blackstone JV

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

item

item

item

Emeritus Corporation

Emeritus Corporation

Minimum

Maximum

item

Real Estate Secured

Emeritus Corporation

Emeritus Corporation

item

Acquisition

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition of facility

'

$18,000,000

'

$38,000,000

$1,700,000,000

'

'

'

'

'

'

'

Consideration, Cash Paid

172,380,000

'

3,860,000

1,730,000,000

'

'

'

'

'

'

'

'

Assets Acquired, Real Estate

184,564,000

'

3,541,000

1,570,000,000

'

'

1,570,000,000

'

'

'

'

'

Assets Acquired, Net Intangibles

50,368,000

'

319,000

174,000,000

'

'

174,000,000

'

'

'

'

'

Number of senior housing communities

'

'

'

4

129

'

133

'

'

9

'

'

Number of individual leases

'

'

'

'

'

'

'

'

5

'

'

'

Number of properties operated pursuant to a new triple-net master lease

'

'

'

'

'

'

'

'

128

'

'

'

Number of states where acquired senior housing communities are located

'

'

'

29

'

'

29

'

'

'

'

'

Percentage of assisted living units

'

'

'

'

'

'

61.00%

'

'

'

'

'

Percentage of independent living units

'

'

'

'

'

'

25.00%

'

'

'

'

'

Percentage of memory care units

'

'

'

'

'

'

13.00%

'

'

'

'

'

Percentage of skilled nursing

'

'

'

'

'

'

1.00%

'

'

'

'

'

Number of communities that are stabilized

'

'

'

99

'

'

99

'

'

'

'

'

Number of communities currently lease-up

'

'

'

34

'

'

34

'

34

'

'

'

Number of stages for acquisition to close

'

'

'

'

'

'

2

'

'

'

'

'

Liabilities assumed

35,120,000

'

'

13,000,000

'

'

13,000,000

'

'

'

'

'

Consideration, assumed intangible liabilities

'

'

'

4,000,000

'

'

4,000,000

'

'

'

'

'

Rental and related revenues

'

'

'

'

'

'

'

'

105,800,000

'

'

'

Rate of increase in minimum lease revenue per year on average over the initial 5 years of the lease (as a percent)

'

'

'

'

'

'

'

'

3.70%

'

'

'

Initial lease term with Emeritus Corporation

'

'

'

'

'

'

'

'

'5 years

'

'

'

Rate of increase in minimum lease revenue per year for remaining years of lease term (as a percent)

'

'

'

'

'

'

'

'

3.00%

'

'

'

Percentage of operating leases basis spread on variable floor rate

'

'

'

'

'

'

'

'

103.00%

'

'

'

Percentage of operating leases basis spread on variable cap rate

'

'

'

'

'

'

'

'

130.00%

'

'

'

Number of asset pools

'

'

'

'

'

'

'

'

3

'

'

'

Initial available term of asset pools

'

'

'

'

'

'

'

'

'

'

'14 years

'16 years

Number of extension options with Emeritus Corporation

'

'

'

'

'

'

'

'

2

'

'

'

Total initial available term of asset pools

'

'

'

'

'

'

'

'

'

'

'30 years

'35 years

Principal amount of secured debt

'

'

'

'

'

'

'

'

'

52,000,000

'

'

Term of loan

'

'

'

'

'

'

'

'

'

'4 years

'

'

Interest rate on debt, initially (as a percent)

'

'

'

'

'

'

'

'

'

6.10%

'

'

Interest rate on debt after four year term (as a percent)

'

'

'

'

'

'

'

'

'

6.80%

'

'

Unaudited pro forma consolidated results of operations

'

'

'

'

'

'

'

'

'

'

'

'

Revenues

'

'

'

'

'

494,516,000

'

1,450,349,000

'

'

'

'

Net income

'

'

'

'

'

206,448,000

'

622,797,000

'

'

'

'

Net income applicable to HCP, Inc.

'

'

'

'

'

$203,513,000

'

$613,727,000

'

'

'

'

Basic earnings per common share (in dollars per share)

'

'

'

'

'

$0.45

'

$1.35

'

'

'

'

Diluted earnings per common share (in dollars per share)

'

'

'

'

'

$0.45

'

$1.34

'

'

'

'

Real_Estate_Property_Investmen3

Real Estate Property Investments (Details 2) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Other real estate acquisitions	'	'
Consideration, Noncontrolling Interest	'	$27,432,000
Operating segment	'	'
Other real estate acquisitions	'	'
Consideration, Cash Paid	'	172,380,000
Consideration, Debt and Other Liabilities Assumed	'	35,120,000
Consideration, Noncontrolling Interest	'	27,432,000
Assets Acquired, Real Estate	'	184,564,000
Assets Acquired, Net Intangibles	'	50,368,000
Operating segment | Post-acute/skilled	'	'
Acquisition	'	'
Acquisition of facility	400,000	'
Land acquired (in acres)	38	'
Operating segment | Medical office	'	'
Other real estate acquisitions	'	'
Consideration, Cash Paid	'	157,556,000
Consideration, Debt and Other Liabilities Assumed	'	35,120,000
Consideration, Noncontrolling Interest	'	27,346,000
Assets Acquired, Real Estate	'	170,443,000
Assets Acquired, Net Intangibles	'	49,579,000
Operating segment | Life science	'	'
Other real estate acquisitions	'	'
Consideration, Cash Paid	'	7,964,000
Consideration, Noncontrolling Interest	'	86,000
Assets Acquired, Real Estate	'	7,580,000
Assets Acquired, Net Intangibles	'	470,000
Operating segment | Senior housing	'	'
Acquisition	'	'
Acquisition of facility	18,000,000	'
Price paid upon exercise of purchase option	16,000,000	'
Other real estate acquisitions	'	'
Consideration, Cash Paid	'	3,860,000
Assets Acquired, Real Estate	'	3,541,000
Assets Acquired, Net Intangibles	'	319,000
Operating segment | Hospital	'	'
Other real estate acquisitions	'	'
Consideration, Cash Paid	'	3,000,000
Assets Acquired, Real Estate	'	3,000,000
Operating segment | Senior housing, life science and medical office	'	'
Other real estate acquisitions	'	'
Payments to acquire productive assets	$123,000,000	$126,000,000

Dispositions_of_Real_Estate_an2

Dispositions of Real Estate and Discontinued Operations (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

item

item

item

item

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Medical office

Hospital

Hospital

Hospital

Senior housing

item

item

item

Dispositions of Real Estate and Land

'

'

'

'

'

'

'

'

'

'

'

'

Total consideration for disposition of real estate

'

'

'

'

'

'

'

$7,000,000

'

'

'

$4,000,000

Number of beds sold

'

'

'

'

'

'

'

'

62

'

'

'

Number of beds acquired

'

'

'

'

'

'

'

'

60

'

'

'

Number of properties held for sale

'

'

'

'

'

'

'

'

'

4

5

'

Carrying value of properties classified as held for sale

130,765,000

'

130,765,000

'

145,621,000

130,765,000

145,621,000

'

131,000,000

131,000,000

146,000,000

'

Gain on sales of real estate, net of income taxes

8,298,000

'

9,185,000

2,856,000

'

'

'

'

8,000,000

'

'

'

Operating income from discontinued operations

'

'

'

'

'

'

'

'

'

'

'

'

Rental and related revenues

6,460,000

10,260,000

20,458,000

31,023,000

'

'

'

'

'

'

'

'

Depreciation and amortization expenses

1,433,000

2,969,000

4,346,000

11,876,000

'

'

'

'

'

'

'

'

Operating expenses

3,000

18,000

9,000

75,000

'

'

'

'

'

'

'

'

Other income (expense), net

-74,000

593,000

229,000

2,452,000

'

'

'

'

'

'

'

'

Income before gain on sales of real estate

$5,098,000

$6,680,000

$15,874,000

$16,620,000

'

'

'

'

'

'

'

'

Number of properties included in discontinued operations

5

9

6

10

'

'

'

'

'

'

'

'

Net_Investment_in_Direct_Finan2

Net Investment in Direct Financing Leases (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Apr. 02, 2013

Sep. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

item

item

item

DFL Portfolio

DFL Portfolio

DFL Portfolio

DFL Portfolio

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

item

item

item

Minimum

Maximum

Acquisition

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Minimum lease payments receivable

$24,811,003,000

'

$24,811,003,000

'

$25,217,520,000

'

'

'

'

'

$23,700,000,000

'

$24,000,000,000

'

'

Rent receivable from triple-net lease with HCR ManorCare

'

'

'

'

'

'

'

'

'

506,000,000

'

489,000,000

'

'

'

Rate of increase in minimum lease revenue per year over each of the next 3 years (as a percent)

'

'

'

'

'

'

'

'

'

'

3.50%

'

'

'

'

Remaining specified period of the initial lease term during which the minimum lease revenue increases by a specified percentage per year

'

'

'

'

'

'

'

'

'

'

'3 years

'

'

'

'

Rate of increase in minimum lease revenue per year for remaining years of lease term (as a percent)

'

'

'

'

'

'

'

'

'

'

3.00%

'

'

'

'

Number of asset pools

'

'

'

'

'

'

'

'

'

'

4

'

'

'

'

Rate of increase in rent receivable for first year of extension option (as a percent)

'

'

'

'

'

'

'

'

'

'

3.00%

'

'

'

'

Total initial available term of asset pools

'

'

'

'

'

'

'

'

'

'

'

'

'

'23 years

'35 years

Estimated residual values

4,010,514,000

'

4,010,514,000

'

4,010,514,000

'

'

'

'

'

'

'

'

'

'

Less unearned income

-21,828,165,000

'

-21,828,165,000

'

-22,346,641,000

'

'

'

'

'

'

'

'

'

'

Net investment in direct financing leases

6,993,352,000

'

6,993,352,000

'

6,881,393,000

376,000,000

'

376,000,000

'

'

'

'

'

'

'

Properties subject to direct financing leases

361

'

361

'

361

14

'

14

'

'

'

'

'

'

'

DFL income

157,253,000

155,834,000

472,409,000

465,345,000

'

5,100,000

7,000,000

19,100,000

20,800,000

'

'

'

'

'

'

Cash proceeds from DFL portfolio

'

'

'

'

'

$6,100,000

$5,600,000

$17,600,000

$17,300,000

'

'

'

'

'

'

Loans_Receivable_Details

Loans Receivable (Details)

3 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

1 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 06, 2013

Sep. 06, 2013

Aug. 23, 2013

Aug. 23, 2013

2-May-13

2-May-13

Sep. 30, 2013

Jul. 31, 2012

Jul. 30, 2012

Jul. 31, 2012

Jul. 31, 2012

Jun. 30, 2013

Mar. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Real Estate Secured

Real Estate Secured

Other Secured

Other Secured

Barchester Loan

Barchester Loan

Barchester Loan

Barchester Loan

Barchester Loan

Barchester Loan

Tandem Health Care Loan

Tandem Health Care Loan

Tandem Health Care Loan

Tandem Health Care Loan

Tandem Health Care Loan - First Tranche

Tandem Health Care Loan - Second Tranche

Delphis

Delphis

Delphis

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

USD ($)

Maximum

Maximum

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

item

USD ($)

item

item

Loans receivable:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mezzanine

$245,535,000

'

$245,535,000

'

$145,150,000

'

'

$245,535,000

$145,150,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan receivable, other

161,471,000

'

161,471,000

'

147,264,000

161,471,000

147,264,000

'

'

'

'

'

'

'

'

'

'

'

205,000,000

100,000,000

102,000,000

'

'

'

Unamortized discounts, fees and costs

-2,793,000

'

-2,793,000

'

-2,974,000

'

'

-2,793,000

-2,974,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Allowance for loan losses

-13,410,000

'

-13,410,000

'

-13,410,000

'

'

-13,410,000

-13,410,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans receivable, net

390,803,000

'

390,803,000

'

276,030,000

161,471,000

147,264,000

229,332,000

128,766,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Construction loans outstanding related to senior housing development projects

'

'

'

'

'

'

'

110,000,000

72,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Remaining commitments to fund development projects

'

'

'

'

'

'

'

37,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loans receivable purchased, face or par value

'

'

'

'

'

'

'

'

'

'

'

14,000,000

9,000,000

188,000,000

121,000,000

'

'

'

'

'

'

'

'

'

Loans receivable purchased, discount

'

'

'

'

'

'

'

'

'

'

'

8,000,000

5,000,000

170,000,000

109,000,000

'

'

'

'

'

'

'

'

'

Number of facilities

'

'

'

'

'

'

'

'

'

'

'

'

'

160

160

'

'

'

'

'

'

'

'

'

Debt instrument, variable rate basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'London Interbank Offered Rate ("LIBOR")

'London Interbank Offered Rate ("LIBOR")

'

'

'

'

'

'

'

'

'

Debt instrument, weighted-average basis spread on variable rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

3.14%

3.14%

'

'

'

'

'

'

'

'

'

Loan receivable subordinated to senior mortgage debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

443,000,000

400,000,000

'

'

'

'

'

'

'

Loan receivable subordinated to senior mezzanine debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

137,000,000

'

'

'

'

'

'

'

Loan receivable, interest rate payable (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12.00%

14.00%

'

'

'

Loan receivable term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'63 months

'

'

'

'

'

'

Number of partnerships that lease a property owned by the Company

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1

'

Distribution of fund to guarantor

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000

'

'

Cash payment received

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,800,000

'

'

Legal expenses

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

'

Other consideration received

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,100,000

'

'

Proceeds from guarantor

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,900,000

'

'

Proceeds from sale of collateral asset

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

38,100,000

Number of collateral primary assets sold

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

Loans receivable, net reported amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

29,200,000

30,700,000

Cash payments received from borrower

'

'

'

'

'

'

'

'

'

202,000,000

129,000,000

'

'

'

'

'

'

'

'

'

'

'

1,500,000

'

Additional interest income as a result of extinguishment of loans

$42,078,000

$10,278,000

$68,611,000

$12,313,000

'

'

'

'

'

$24,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investments_in_and_Advances_to2

Investments in and Advances to Unconsolidated Joint Ventures (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investments in and advances to unconsolidated joint ventures	$206,004,000	'	$206,004,000	'	$212,213,000
Investment reported in liabilities	-1,126,000	'	-1,126,000	'	'
Summarized combined financial information for unconsolidated joint ventures:	'	'	'	'	'
Real estate, net	3,676,367,000	'	3,676,367,000	'	3,731,740,000
Goodwill and other assets, net	5,802,930,000	'	5,802,930,000	'	5,734,318,000
Total assets	9,479,297,000	'	9,479,297,000	'	9,466,058,000
Capital lease obligations and mortgage debt	6,782,574,000	'	6,782,574,000	'	6,875,932,000
Accounts payable	1,060,153,000	'	1,060,153,000	'	971,095,000
Other partners' capital	1,452,308,000	'	1,452,308,000	'	1,435,885,000
HCP's capital	184,262,000	'	184,262,000	'	183,146,000
Total liabilities and partners' capital	9,479,297,000	'	9,479,297,000	'	9,466,058,000
Combined basis difference	20,000,000	'	20,000,000	'	'
Total revenues	1,055,889,000	1,057,567,000	3,208,752,000	3,196,086,000	'
Net income (loss)	1,739,000	-8,851,000	22,232,000	8,416,000	'
HCP's share in earnings	13,892,000	13,396,000	44,278,000	42,803,000	'
Fees earned by HCP	464,000	460,000	1,406,000	1,423,000	'
Distributions received by HCP	1,390,000	1,419,000	3,918,000	4,826,000	'
HCR ManorCare | Operating segment | Post-acute/skilled	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investments in and advances to unconsolidated joint ventures	85,777,000	'	85,777,000	'	'
Investment ownership percentage	9.50%	'	9.50%	'	'
Reduction in DFL income	15,400,000	14,900,000	46,600,000	44,400,000	'
HCP Ventures III, LLC | Operating segment | Medical office	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	13	'	13	'	'
Investments in and advances to unconsolidated joint ventures	7,251,000	'	7,251,000	'	'
Investment ownership percentage	30.00%	'	30.00%	'	'
HCP Ventures IV, LLC | Operating segment | Hospital and medical office segments	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investments in and advances to unconsolidated joint ventures	30,420,000	'	30,420,000	'	'
Investment ownership percentage	20.00%	'	20.00%	'	'
HCP Ventures IV, LLC | Operating segment | Medical office	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	54	'	54	'	'
HCP Ventures IV, LLC | Operating segment | Hospital	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	4	'	4	'	'
HCP Life Science | Operating segment | Life science	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	4	'	4	'	'
Investments in and advances to unconsolidated joint ventures	68,992,000	'	68,992,000	'	'
Number of unconsolidated joint ventures	'	'	3	'	'
HCP Life Science | Operating segment | Life science | Minimum	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investment ownership percentage	50.00%	'	50.00%	'	'
HCP Life Science | Operating segment | Life science | Maximum	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investment ownership percentage	63.00%	'	63.00%	'	'
Torrey Pines Science Center, LP | Operating segment | Life science	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investment ownership percentage	50.00%	'	50.00%	'	'
Britannia Biotech Gateway, LP | Operating segment | Life science	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investment ownership percentage	55.00%	'	55.00%	'	'
LASDK, LP | Operating segment | Life science	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investment ownership percentage	63.00%	'	63.00%	'	'
Horizon Bay Hyde Park, LLC | Operating segment | Senior housing	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	1	'	1	'	'
Investments in and advances to unconsolidated joint ventures	6,725,000	'	6,725,000	'	'
Investment ownership percentage	72.00%	'	72.00%	'	'
Suburban Properties, LLC | Operating segment | Medical office	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	1	'	1	'	'
Investments in and advances to unconsolidated joint ventures	6,666,000	'	6,666,000	'	'
Investment ownership percentage	67.00%	'	67.00%	'	'
Advances to unconsolidated joint ventures, net	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Investments in and advances to unconsolidated joint ventures	173,000	'	173,000	'	'
Edgewood Assisted Living Center, LLC | Operating segment | Senior housing	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	1	'	1	'	'
Investment reported in liabilities	-429,000	'	-429,000	'	'
Investment ownership percentage	45.00%	'	45.00%	'	'
Seminole Shores Living Center, LLC | Operating segment | Senior housing	'	'	'	'	'
Company owned interests in entities, accounted under equity method:	'	'	'	'	'
Number of properties	1	'	1	'	'
Investment reported in liabilities	($697,000)	'	($697,000)	'	'
Investment ownership percentage	50.00%	'	50.00%	'	'

Intangibles_Details

Intangibles (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Intangibles	'	'
Intangible assets, gross	$784	$794
Intangible assets, accumulated amortization	276	241
Intangible liabilities, gross	208	194
Intangible liabilities, accumulated amortization	$105	$90

Other_Assets_Details

Other Assets (Details)

9 Months Ended

0 Months Ended

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Jun. 28, 2012

Jun. 28, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

USD ($)

USD ($)

Delphis

Delphis

Four Seasons

Four Seasons

Four Seasons

Four Seasons

Four Seasons

Four Seasons

HCP Ventures IV, LLC

HCP Ventures IV, LLC

USD ($)

USD ($)

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

USD ($)

Other Assets.

'

'

'

'

'

'

'

'

'

'

'

'

Straight-line rent assets, net of allowance of $34,123 and $33,521, respectively

$358,514,000

$306,294,000

'

'

'

'

'

'

'

'

'

'

Allowance on straight-line rent assets

34,123,000

33,521,000

'

'

'

'

'

'

'

'

'

'

Marketable debt securities, net

238,834,000

222,809,000

'

'

'

'

'

'

'

'

'

'

Leasing costs, net

98,406,000

93,763,000

'

'

'

'

'

'

'

'

'

'

Deferred financing costs, net

37,379,000

45,490,000

'

'

'

'

'

'

'

'

'

'

Goodwill

50,346,000

50,346,000

'

'

'

'

'

'

'

'

'

'

Marketable equity securities

'

24,829,000

'

'

'

'

'

'

'

'

'

'

Other

52,518,000

44,989,000

'

'

'

'

'

'

'

'

'

'

Total other assets

835,997,000

788,520,000

'

'

'

'

'

'

'

'

'

'

Cost basis of marketable equity securities

'

17,100,000

'

'

'

'

'

'

'

'

'

'

Other assets

'

'

'

'

'

'

'

'

'

'

'

'

Carrying value of interest accrued related to the Delphis loan

'

'

0

0

'

'

'

'

'

'

'

'

Reserve related to accrued interest receivable

'

'

5,400,000

5,400,000

'

'

'

'

'

'

'

'

Loans receivables

390,803,000

276,030,000

'

'

'

'

'

'

'

'

10,000,000

10,000,000

Loan receivable, interest rate payable (as a percent)

'

'

'

'

12.25%

12.25%

'

'

'

'

12.00%

12.00%

Percentage of counter party's partnership interest in the joint venture, by which loans receivable from unconsolidated joint venture are secured

'

'

'

'

'

'

'

'

'

'

80.00%

'

Realized gains on marketable debt securities sold

11,000,000

'

'

'

'

'

'

'

'

'

'

'

Marketable debt security, par value

'

'

'

'

'

138,500,000

'

'

'

'

'

'

Marketable debt security, par value, discounted

'

'

'

'

$214,900,000

£ 136,800,000

$222,000,000

£ 137,000,000

$223,000,000

£ 137,000,000

'

'

Yield to maturity (as a percent)

'

'

'

'

12.50%

12.50%

'

'

'

'

'

'

Debt_Details

Debt (Details)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Jul. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Jul. 30, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Jun. 25, 2012

Jan. 23, 2012

Jul. 23, 2012

Nov. 19, 2012

Feb. 28, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

USD ($)

USD ($)

Line of Credit and Term Loan

Bank Line of Credit

2012 Term Loan

2012 Term Loan

2012 Term Loan

2012 Term Loan

Senior Unsecured Notes

Senior Unsecured Notes

Senior Unsecured Notes

Senior Unsecured, 6.45% notes due 2012

Senior Unsecured, 3.75% notes due 2019

Senior Unsecured, 3.15% notes due 2022

Senior Unsecured, 2.625% notes due 2020

Senior Unsecured, 5.625%

Mortgage Debt

Mortgage Debt

Mortgage Debt

Other Debt

USD ($)

USD ($)

GBP (£)

USD ($)

GBP (£)

Interest-rate swap contracts

USD ($)

Minimum

Maximum

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Minimum

Maximum

USD ($)

item

item

Debt Instrument

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of credit facility, maximum borrowing capacity

'

'

'

$1,500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Length of debt instrument extension period

'

'

'

'1 year

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, variable rate basis

'

'

'

'LIBOR

'GBP LIBOR

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, basis spread on variable rate (as a percent)

'

'

'

1.08%

1.20%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, facility fee (as a percent)

'

'

'

0.18%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of credit facility additional aggregate amount, maximum

'

'

'

500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of credit facility, amount outstanding

'

'

'

285,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, covenant debt to assets (as a percent)

'

'

60.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, covenant secured debt to assets (as a percent)

'

'

30.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, covenant unsecured debt to unencumbered assets (as a percent)

'

'

60.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, covenant minimum fixed charge coverage ratio

'

'

1.5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, covenant net worth

'

'

9,200,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, effective interest rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

3.80%

3.30%

2.70%

'

'

'

'

'

Weighted-average interest rate (as a percent)

'

'

'

'

'

'

'

'

5.10%

'

'

'

'

'

'

'

6.16%

'

'

'

Weighted-average maturity

'

'

'

'

'

'

'

'

'5 years

'

'

'

'

'

'

'

'4 years

'

'

'

Issuance of senior unsecured notes

'

'

'

'

'

'

'

'

'

'

'

'

450,000,000

300,000,000

800,000,000

'

'

'

'

'

Debt issuance price as a percentage of principal amount

'

'

'

'

'

'

'

'

'

'

'

'

99.50%

98.90%

99.70%

'

'

'

'

'

Net proceeds from issuance of senior unsecured notes

'

'

'

'

'

'

'

'

'

'

'

'

444,000,000

294,000,000

793,000,000

'

'

'

'

'

Repayment of senior unsecured notes

'

'

'

'

'

'

'

'

'

'

'

250,000,000

'

'

'

150,000,000

'

'

'

'

Stated interest rate (as a percent)

'

'

'

'

'

'

'

'

'

1.22%

6.98%

6.45%

3.75%

3.15%

2.63%

5.63%

'

0.69%

8.69%

'

2013 (Three months)

414,003,000

'

'

'

'

'

'

'

400,000,000

'

'

'

'

'

'

'

14,003,000

'

'

'

2014

667,042,000

'

'

'

'

'

'

'

487,000,000

'

'

'

'

'

'

'

180,042,000

'

'

'

2015

708,421,000

'

'

'

'

'

'

'

400,000,000

'

'

'

'

'

'

'

308,421,000

'

'

'

2016

1,698,486,000

'

'

285,000,000

'

221,748,000

'

'

900,000,000

'

'

'

'

'

'

'

291,738,000

'

'

'

2017

1,300,477,000

'

'

'

'

'

'

'

750,000,000

'

'

'

'

'

'

'

550,477,000

'

'

'

Thereafter

3,721,825,000

'

'

'

'

'

'

'

3,650,000,000

'

'

'

'

'

'

'

71,825,000

'

'

'

Debt instrument principal outstanding, total

8,510,254,000

'

'

285,000,000

'

221,748,000

'

'

6,587,000,000

'

'

'

'

'

'

'

1,416,506,000

'

'

'

(Discounts) and premiums, net

-27,165,000

'

'

'

'

'

'

'

-21,066,000

'

'

'

'

'

'

'

-6,099,000

'

'

'

Debt instruments, carrying amount

8,483,089,000

'

'

285,000,000

137,000,000

222,000,000

137,000,000

'

6,565,934,000

'

'

'

'

'

'

'

1,410,407,000

'

'

'

Maturity period of debt instruments

'

'

'

'

'4 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term of the interest rate swap agreement

'

'

'

'

'

'

'

'4 years

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, fixed interest rate (as a percent)

'

'

'

'

'

'

'

1.81%

'

'

'

'

'

'

'

'

'

'

'

'

Number of healthcare facilities used to secure debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

132

'

'

'

Debt instrument, collateral, healthcare facilities carrying value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000,000,000

'

'

'

Portion of other debt and occupancy fee deposits excluded from schedule of debt maturities

$77,503,000

$81,958,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$78,000,000

Number of continuing care retirement communities issuing life care bonds

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

Non-interest bearing occupancy fee deposits

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Total Assets

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Revenue

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Operators

Brookdale Senior Living

Brookdale Senior Living

Brookdale Senior Living

Brookdale Senior Living

Brookdale Senior Living

Emeritus

Emeritus

Sunrise Senior Living

Sunrise Senior Living

HCR ManorCare

HCR ManorCare

Brookdale Senior Living

Brookdale Senior Living

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Emeritus

Emeritus

Emeritus

Emeritus

Sunrise Senior Living

Sunrise Senior Living

Sunrise Senior Living

Sunrise Senior Living

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

Brookdale Senior Living

Brookdale Senior Living

Brookdale Senior Living

Brookdale Senior Living

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

Operating segment

item

item

item

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Post-acute/skilled

Post-acute/skilled

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Senior housing

Post-acute/skilled

Post-acute/skilled

Post-acute/skilled

Post-acute/skilled

Emeritus

Emeritus

Sunrise Senior Living

Sunrise Senior Living

HCR ManorCare

HCR ManorCare

Brookdale Senior Living

Brookdale Senior Living

HCR ManorCare

HCR ManorCare

Emeritus

Emeritus

Emeritus

Emeritus

Sunrise Senior Living

Sunrise Senior Living

Sunrise Senior Living

Sunrise Senior Living

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

Brookdale Senior Living

Brookdale Senior Living

Brookdale Senior Living

Brookdale Senior Living

HCR ManorCare

HCR ManorCare

HCR ManorCare

HCR ManorCare

Concentration of Credit Risk

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Concentration risk (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

14.60%

14.30%

6.80%

6.70%

32.10%

31.50%

4.20%

4.10%

37.30%

37.30%

17.20%

17.50%

11.00%

11.00%

10.60%

10.70%

88.10%

89.30%

34.80%

20.30%

34.60%

20.50%

11.50%

15.60%

12.20%

15.70%

9.60%

11.70%

9.50%

11.80%

11.70%

14.40%

11.60%

14.20%

12.20%

6.60%

12.60%

6.70%

4.00%

5.00%

4.40%

5.20%

27.00%

30.70%

28.00%

31.20%

4.10%

4.70%

4.20%

4.70%

72.70%

87.20%

81.30%

90.90%

Concentration risk, assets

'

'

'

'

'

'

'

'

'

'

'

'

'

$778,000,000

'

$778,000,000

'

$759,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Concentration risk, revenue

'

'

'

'

'

'

'

'

'

'

'

'

'

37,600,000

36,100,000

112,000,000

106,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of senior living communities operated in a RIDEA structure

'

'

'

'

'

'

'

'

'

'

'

'

'

21

'

21

'

21

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of operator assets to segment assets after inclusion of assets under RIDEA structure

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

21.00%

21.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of operator assets to total entity assets after inclusion of assets under RIDEA structure

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8.00%

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of operator revenue to segment revenue after inclusion of revenue under RIDEA structure

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31.00%

38.00%

31.00%

38.00%

'

'

'

'

Percentage of operator revenue to total entity revenue after inclusion of revenue under RIDEA structure

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11.00%

12.00%

11.00%

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance Sheets:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Real estate and other property, net

10,699,853,000

'

10,699,853,000

'

10,739,567,000

'

3,008,700,000

'

3,008,700,000

'

3,046,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash and cash equivalents

49,414,000

96,476,000

49,414,000

96,476,000

247,673,000

33,506,000

158,500,000

'

158,500,000

'

120,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Goodwill, intangible and other assets, net

835,997,000

'

835,997,000

'

788,520,000

'

5,563,700,000

'

5,563,700,000

'

5,625,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total assets

19,889,509,000

[1]

'

19,889,509,000

[1]

'

19,915,555,000

[1]

'

8,730,900,000

'

8,730,900,000

'

8,792,500,000

19,086,378,000

18,934,010,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt and financing obligations

'

'

'

'

'

'

6,289,000,000

'

6,289,000,000

'

6,374,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accounts payable, accrued liabilities and other

303,966,000

'

303,966,000

'

293,994,000

'

1,021,800,000

'

1,021,800,000

'

1,021,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total equity

10,850,237,000

9,727,853,000

10,850,237,000

9,727,853,000

10,753,777,000

9,220,622,000

1,420,100,000

'

1,420,100,000

'

1,396,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total liabilities and equity

19,889,509,000

'

19,889,509,000

'

19,915,555,000

'

8,730,900,000

'

8,730,900,000

'

8,792,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income Statements:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenues

543,958,000

468,066,000

1,563,292,000

1,370,999,000

'

'

1,030,300,000

1,037,800,000

3,131,700,000

3,113,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Operating, general and administrative expense

'

'

'

'

'

'

-888,100,000

-880,800,000

-2,677,400,000

-2,663,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Depreciation and amortization expense

-104,859,000

-87,170,000

-317,430,000

-254,463,000

'

'

-36,300,000

-41,600,000

-110,000,000

-125,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest expense

-108,088,000

-103,355,000

-326,094,000

-309,399,000

'

'

-103,800,000

-105,200,000

-312,300,000

-317,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other income, net

1,584,000

770,000

16,887,000

2,232,000

'

'

2,300,000

3,700,000

4,000,000

10,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income before income taxes

'

'

'

'

'

'

4,400,000

13,900,000

36,000,000

17,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Income taxes

-1,033,000

602,000

-3,563,000

1,145,000

'

'

-1,800,000

-4,800,000

-11,600,000

-4,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income

236,858,000

199,043,000

687,367,000

600,582,000

'

'

2,600,000

9,100,000

24,400,000

12,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit Enhancement Guarantee

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Third party debt collateralized by facilities, debt amount (maturing in May 1, 2025)

113,000,000

'

113,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Third party debt collateralized by facilities, asset carrying amount (maturing in May 1, 2025)

$376,000,000

'

$376,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

The Company's consolidated total assets at September 30, 2013 and December 31, 2012, include assets of certain variable interest entities ("VIEs") that can only be used to settle the liabilities of those VIEs. At September 30, 2013: $1.5 million, other assets, net. At December 31, 2012: accounts receivable, net, $2 million; cash and cash equivalents, $10 million; and other assets, net, $2 million, respectively. See Note 16 to the Condensed Consolidated Financial Statements for additional information.

Equity_Details

Equity (Details) (USD $)

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

1 Months Ended

9 Months Ended

Oct. 24, 2013

Jul. 25, 2013

Apr. 25, 2013

Jan. 24, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Apr. 23, 2012

Mar. 31, 2012

Apr. 23, 2012

Apr. 23, 2012

Oct. 31, 2012

Jun. 30, 2012

Mar. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

item

item

Preferred Stock

Preferred Stock

Preferred Stock

Preferred Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Series E cumulative redeemable preferred stock

Series F cumulative redeemable preferred stock

Class of Stock

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares redeemed

'

'

'

'

'

'

'

'

'

'

'

4,000,000

7,820,000

'

'

'

'

'

Dividend Rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

7.25%

7.10%

'

'

'

'

'

Preferred stock redemption value (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$25

$25

'

'

'

'

'

Aggregate redemption amount

'

'

'

'

'

'

'

$295,500,000

'

$295,500,000

'

'

'

'

'

'

'

'

Preferred stock issuance costs write-off

'

'

'

'

'

'

'

'

'

'

10,400,000

'

'

'

'

'

'

'

Dividends declared per common share (in dollars per share)

$0.53

$0.53

$0.53

$0.53

$0.53

$0.50

$1.57

$1.50

'

'

'

'

'

'

'

'

'

'

Issuance of common stock, net

'

'

'

'

'

'

77,509,000

761,070,000

'

'

'

'

'

979,000,000

376,000,000

359,000,000

1,859,000

19,096,000

Issuance of common stock, net (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

22,000,000

8,970,000

9,000,000

1,859,000

19,096,000

Stock issued under new issues (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

$44.50

$41.88

$39.93

'

'

Repayment of senior unsecured notes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

250,000,000

'

'

'

Dividend Reinvestment and Stock Purchase Plan (in shares)

'

'

'

'

'

'

1,681,000

675,000

'

'

'

'

'

'

'

'

'

'

Conversion of DownREIT units (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

85,000

72,000

Exercise of stock options (in shares)

'

'

'

'

'

'

875,000

2,451,000

'

'

'

'

'

'

'

'

875,000

2,451,000

Vesting of restricted stock units (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

110,000

385,000

Accumulated Other Comprehensive Loss

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized gains on available for sale securities

'

'

'

'

'

'

'

'

7,776,000

'

'

'

'

'

'

'

'

'

Unrealized losses on cash flow hedges, net

'

'

'

'

-12,066,000

'

-12,066,000

'

-18,452,000

'

'

'

'

'

'

'

'

'

Supplemental Executive Retirement Plan minimum liability

'

'

'

'

-2,983,000

'

-2,983,000

'

-3,150,000

'

'

'

'

'

'

'

'

'

Cumulative foreign currency translation adjustment

'

'

'

'

-830,000

'

-830,000

'

-827,000

'

'

'

'

'

'

'

'

'

Total accumulated other comprehensive loss

'

'

'

'

-15,879,000

'

-15,879,000

'

-14,653,000

'

'

'

'

'

'

'

'

'

Noncontrolling interests

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-managing members DownREIT units outstanding

'

'

'

'

4,000,000

'

4,000,000

'

'

'

'

'

'

'

'

'

'

'

Number of DownREIT LLCs

'

'

'

'

4

'

4

'

'

'

'

'

'

'

'

'

'

'

DownREIT unit, carrying value

'

'

'

'

184,791,000

'

184,791,000

'

187,788,000

'

'

'

'

'

'

'

'

'

DownREIT unit, fair value

'

'

'

'

$246,000,000

'

$246,000,000

'

'

'

'

'

'

'

'

'

'

'

Segment_Disclosures_Details

Segment Disclosures (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
			item
Segment reporting information, revenues	'	'	'	'
Number of reportable segments	'	'	5	'
Resident Fees and Services	$37,589	$36,076	$112,070	$107,824
Interest Income	42,078	10,278	68,611	12,313
Investment Management Fee Income	464	460	1,406	1,423
Total revenues	543,958	468,066	1,563,292	1,370,999
NOI	424,847	384,675	1,268,293	1,147,229
Adjusted NOI (Cash NOI)	391,969	349,149	1,168,007	1,041,877
Operating segment	'	'	'	'
Segment reporting information, revenues	'	'	'	'
Rental Revenues	463,827	421,252	1,381,205	1,249,439
Resident Fees and Services	37,589	36,076	112,070	107,824
Interest Income	42,078	10,278	68,611	12,313
Investment Management Fee Income	464	460	1,406	1,423
Total revenues	543,958	468,066	1,563,292	1,370,999
NOI	424,847	384,675	1,268,293	1,147,229
Adjusted NOI (Cash NOI)	391,969	349,149	1,168,007	1,041,877
Operating segment | Senior housing	'	'	'	'
Segment reporting information, revenues	'	'	'	'
Rental Revenues	149,443	114,661	448,600	341,353
Resident Fees and Services	37,589	36,076	112,070	107,824
Interest Income	3,121	877	8,328	1,686
Total revenues	190,153	151,614	568,998	450,863
NOI	162,391	125,865	487,501	379,251
Adjusted NOI (Cash NOI)	148,997	113,401	440,395	341,794
Operating segment | Post-acute/skilled	'	'	'	'
Segment reporting information, revenues	'	'	'	'
Rental Revenues	138,289	135,183	411,912	403,209
Interest Income	38,642	9,135	59,656	9,842
Total revenues	176,931	144,318	471,568	413,051
NOI	137,642	135,029	409,965	402,690
Adjusted NOI (Cash NOI)	120,258	116,573	356,544	345,936
Operating segment | Life science	'	'	'	'
Segment reporting information, revenues	'	'	'	'
Rental Revenues	72,531	71,194	221,088	215,569
Investment Management Fee Income	1	1	3	3
Total revenues	72,532	71,195	221,091	215,572
NOI	58,440	59,403	179,775	177,339
Adjusted NOI (Cash NOI)	56,352	56,341	170,957	171,179
Operating segment | Medical office	'	'	'	'
Segment reporting information, revenues	'	'	'	'
Rental Revenues	88,473	85,800	265,902	246,661
Investment Management Fee Income	463	459	1,403	1,420
Total revenues	88,936	86,259	267,305	248,081
NOI	52,255	50,852	160,170	148,030
Adjusted NOI (Cash NOI)	52,214	49,669	157,742	144,272
Operating segment | Hospital	'	'	'	'
Segment reporting information, revenues	'	'	'	'
Rental Revenues	15,091	14,414	33,703	42,647
Interest Income	315	266	627	785
Total revenues	15,406	14,680	34,330	43,432
NOI	14,119	13,526	30,882	39,919
Adjusted NOI (Cash NOI)	$14,148	$13,165	$42,369	$38,696

Segment_Disclosures_Details_2

Segment Disclosures (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Reconciliation from reported net income to NOI and adjusted NOI	'	'	'	'
Net income	$236,858	$199,043	$687,367	$600,582
Interest income	-42,078	-10,278	-68,611	-12,313
Investment management fee income	-464	-460	-1,406	-1,423
Interest expense	108,088	103,355	326,094	309,399
Depreciation and amortization	104,859	87,170	317,430	254,463
General and administrative	45,423	19,415	90,080	54,299
Impairments	'	7,878	'	7,878
Other income, net	-1,584	-770	-16,887	-2,232
Income taxes	1,033	-602	3,563	-1,145
Equity income from unconsolidated joint ventures	-13,892	-13,396	-44,278	-42,803
Total discontinued operations	-13,396	-6,680	-25,059	-19,476
NOI	424,847	384,675	1,268,293	1,147,229
Straight-line rents	-12,604	-11,821	-28,559	-33,608
DFL accretion	-19,822	-23,433	-65,386	-71,072
Amortization of above and below market lease intangibles, net	-346	-533	-6,414	-1,855
Lease termination fees	-205	-175	-220	-574
NOI adjustments related to discontinued operations	99	436	293	1,757
Adjusted NOI	$391,969	$349,149	$1,168,007	$1,041,877

Segment_Disclosures_Details_3

Segment Disclosures (Details 3) (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified
Segment Disclosure	'		'
Assets held-for-sale, net	$130,765		$145,621
Total assets	19,889,509	[1]	19,915,555	[1]
Goodwill	50,346		50,346
Operating segment	'		'
Segment Disclosure	'		'
Gross assets	21,278,720		20,834,231
Accumulated depreciation and amortization	-2,192,342		-1,900,221
Assets held-for-sale, net	130,765		145,621
Total assets	19,086,378		18,934,010
Operating segment | Senior housing	'		'
Segment Disclosure	'		'
Gross assets	7,811,003		7,654,221
Goodwill	31,000		'
Operating segment | Post-acute/skilled nursing	'		'
Segment Disclosure	'		'
Gross assets	6,269,566		6,080,826
Goodwill	3,000		'
Operating segment | Life science	'		'
Segment Disclosure	'		'
Gross assets	3,969,723		3,932,397
Operating segment | Medical office	'		'
Segment Disclosure	'		'
Gross assets	2,686,241		2,661,394
Goodwill	11,000		'
Operating segment | Hospital	'		'
Segment Disclosure	'		'
Gross assets	542,187		505,393
Assets held-for-sale, net	131,000		146,000
Goodwill	5,000		'
Other non-segment	'		'
Segment Disclosure	'		'
Total assets	$672,366		$835,924
[1]	The Company's consolidated total assets at September 30, 2013 and December 31, 2012, include assets of certain variable interest entities ("VIEs") that can only be used to settle the liabilities of those VIEs. At September 30, 2013: $1.5 million, other assets, net. At December 31, 2012: accounts receivable, net, $2 million; cash and cash equivalents, $10 million; and other assets, net, $2 million, respectively. See Note 16 to the Condensed Consolidated Financial Statements for additional information.

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator	'	'	'	'
Income from continuing operations	$223,462	$192,363	$662,308	$581,106
Noncontrolling interests' share in continuing operations	-3,102	-2,935	-9,625	-9,070
Income from continuing operations applicable to HCP, Inc.	220,360	189,428	652,683	572,036
Preferred stock dividends	'	'	'	-17,006
Participating securities' share in continuing operations	-474	-479	-1,330	-2,154
Income from continuing operations applicable to common shares	219,886	188,949	651,353	552,876
Discontinued operations	13,396	6,680	25,059	19,476
Net income applicable to common shares	$233,282	$195,629	$676,412	$572,352
Denominator	'	'	'	'
Basic weighted average common shares	455,345,000	429,557,000	454,553,000	420,049,000
Dilutive potential common shares	733,000	1,221,000	835,000	1,355,000
Diluted weighted average common shares	456,078,000	430,778,000	455,388,000	421,404,000
Basic earnings per common share	'	'	'	'
Income from continuing operations (in dollars per share)	$0.48	$0.44	$1.43	$1.32
Discontinued operations (in dollars per share)	$0.03	$0.02	$0.06	$0.04
Net income applicable to common shares (in dollars per share)	$0.51	$0.46	$1.49	$1.36
Diluted earnings per common share	'	'	'	'
Income from continuing operations (in dollars per share)	$0.48	$0.44	$1.43	$1.32
Discontinued operations (in dollars per share)	$0.03	$0.01	$0.06	$0.04
Net income applicable to common shares (in dollars per share)	$0.51	$0.45	$1.49	$1.36
Common stock options	'	'	'	'
Diluted earnings per common share	'	'	'	'
Shares of anti-dilutive securities excluded from earnings per share calculation	900,000	500,000	'	'
Restricted Stock and Performance Restricted Stock Units	'	'	'	'
Diluted earnings per common share	'	'	'	'
Shares of anti-dilutive securities excluded from earnings per share calculation	7,500	'	'	'
Down REIT	'	'	'	'
Diluted earnings per common share	'	'	'	'
Shares of anti-dilutive securities excluded from earnings per share calculation	6,000,000	6,400,000	'	'
DownREIT LLCs, non-managing member units outstanding	3,900,000	4,400,000	'	'

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Supplemental cash flow information:	'	'
Interest paid, net of capitalized interest	$363,229	$339,190
Income taxes paid (refunded)	-2	1,645
Capitalized interest	10,852	18,517
Supplemental schedule of non-cash investing activities:	'	'
Accrued construction costs	18,495	18,024
Fair value of real estate acquired in exchange for sale of real estate	15,204	'
Supplemental schedule of non-cash financing activities:	'	'
Vesting of restricted stock units	110	385
Cancellation of restricted stock	17	6
Conversion of non-managing member units into common stock	2,997	2,398
Noncontrolling interests issued in connection with acquisitions	'	27,432
Mortgages and other liabilities assumed with real estate acquisitions	12,728	35,120
Unrealized gains on available-for-sale securities and derivatives designated as cash flow hedges, net	$6,990	$2,203

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (USD $)	9 Months Ended		9 Months Ended					1 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2011	Sep. 30, 2013
	Delphis	Unconsolidated Variable Interest Entities	VIE tenants-operating leases	VIE tenants-DFLs	Loan-senior secured	Loan-senior secured	Debt investment	Consolidated Variable Interest Entities	Consolidated Variable Interest Entities
	item	item				Delphis		item	item
						item
Company's involvement with VIEs:	'	'	'	'	'	'	'	'	'
Number of senior housing facilities leased	'	48	'	'	'	'	'	21	'
Number of partnerships, which are tenants of the company	1	'	'	'	'	1	'	'	'
Number of VIE tenants	'	7	'	'	'	'	'	'	'
Maximum Loss Exposure	'	'	$262,598	$1,091,935	$29,151	'	$16,984	'	'
Assets/liability type	'	'	'Lease intangibles, net and straight-line rent receivables	'Net investment in DFLs	'Loans receivable, net	'	'Marketable debt securities	'	'
Carrying amount	'	'	$14,526	$602,366	$29,151	'	$16,984	'	'
Percentage of partnership interest	'	'	'	'	'	'	'	90.00%	'
Number of tax credit subsidiaries	'	'	'	'	'	'	'	'	2

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair value on a recurring basis, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Fair Value Assets and Liabilities Measured on Recurring Basis	'
Transfers of financial assets or liabilities within the fair value hierarchy	$0
Fair Value	'
Fair value assets and liabilities measured on recurring basis:	'
Total fair value assets and liabilities measured on recurring basis	-9,436
Fair Value | Currency swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative liabilities	-1,897
Fair Value | Interest-rate swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	1,564
Derivative liabilities	-9,283
Fair Value | Warrants	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	180
Level 2	'
Fair value assets and liabilities measured on recurring basis:	'
Total fair value assets and liabilities measured on recurring basis	-9,616
Level 2 | Currency swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative liabilities	-1,897
Level 2 | Interest-rate swap contracts	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	1,564
Derivative liabilities	-9,283
Level 3	'
Fair value assets and liabilities measured on recurring basis:	'
Total fair value assets and liabilities measured on recurring basis	180
Level 3 | Warrants	'
Fair value assets and liabilities measured on recurring basis:	'
Derivative assets	$180

Disclosures_About_Fair_Value_o2

Disclosures About Fair Value of Financial Instruments (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Summary of financial instruments	'	'
Marketable equity securities	'	$24,829
Bank line of credit	285,000	'
Senior unsecured notes	6,565,934	6,712,624
Mortgage debt	1,410,407	1,676,544
Other debt	77,503	81,958
Carrying Value	'	'
Summary of financial instruments	'	'
Loans receivable, net	390,803	276,030
Marketable debt securities	238,834	222,809
Marketable equity securities	'	24,829
Bank line of credit	285,000	'
Term loan	221,748	222,694
Senior unsecured notes	6,565,934	6,712,624
Mortgage debt	1,410,407	1,676,544
Other debt	77,503	81,958
Carrying Value | Warrants	'	'
Summary of financial instruments	'	'
Derivative assets	180	670
Carrying Value | Interest-rate swap contracts	'	'
Summary of financial instruments	'	'
Derivative assets	1,564	89
Derivative liabilities	9,283	12,699
Carrying Value | Currency swap contracts	'	'
Summary of financial instruments	'	'
Derivative liabilities	1,897	2,641
Fair Value | Level 1	'	'
Summary of financial instruments	'	'
Marketable debt securities	272,745	234,137
Marketable equity securities	'	24,829
Senior unsecured notes	7,027,982	7,432,012
Fair Value | Level 2	'	'
Summary of financial instruments	'	'
Loans receivable, net	402,243	279,850
Bank line of credit	285,000	'
Term loan	221,748	222,694
Mortgage debt	1,452,732	1,771,155
Other debt	77,503	81,958
Fair Value | Warrants | Level 3	'	'
Summary of financial instruments	'	'
Derivative assets	180	670
Fair Value | Interest-rate swap contracts | Level 2	'	'
Summary of financial instruments	'	'
Derivative assets	1,564	89
Derivative liabilities	9,283	12,699
Fair Value | Currency swap contracts | Level 2	'	'
Summary of financial instruments	'	'
Derivative liabilities	$1,897	$2,641

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Details)	3 Months Ended		9 Months Ended							9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
	USD ($)	USD ($)	USD ($)	USD ($)	Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges	Interest rate swap, entered in July 2005, maturity in July 2020	Interest rate swap, entered in November 2008, maturity in October 2016	Interest rate swap, entered in July 2012, maturity in June 2016	Interest rate swap, entered in July 2012, maturity in June 2016	Foreign currency swap, entered in July 2012, maturity in June 2016	Foreign currency swap, entered in July 2012, maturity in June 2016
					Reclassification out of Accumulated Other Comprehensive Income	Cash flow hedge	Cash flow hedge	Cash flow hedge	Cash flow hedge	Cash flow hedge	Cash flow hedge
					USD ($)	USD ($)	USD ($)	USD ($)	GBP (£)	USD ($)	GBP (£)
						item				item
Derivative	'	'	'	'	'	'	'	'	'	'	'
Fixed Rate/Buy Amount (as a percent)	'	'	'	'	'	3.82%	5.95%	1.81%	'	'	'
Floating/Exchange Rate Index	'	'	'	'	'	'BMA Swap Index	'1 Month LIBOR	'1 Month GBP LIBOR	'	'	'
Floating/Exchange Rate Index, percentage	'	'	'	'	'	'	1.50%	1.20%	'	'	'
Buy (sell) amount	'	'	'	'	'	'	'	'	'	$68,200,000	'
Notional amount	'	'	'	'	'	45,600,000	26,600,000	'	137,000,000	'	43,500,000
Semi-annual buy (sell) amount	'	'	'	'	'	'	'	'	'	11,400,000	-7,200,000
Fair value of hedge, liabilities	'	'	'	'	'	-6,319,000	-2,964,000	'	'	'	'
Fair value of hedge, liabilities	'	'	'	'	'	'	'	'	'	-1,897,000	'
Number of interest-rate swap contracts	'	'	'	'	'	3	'	'	'	'	'
Exchange rate USD/GBP	'	'	'	'	'	'	'	'	'	1.5695	'
Number of foreign exchange contracts	'	'	'	'	'	'	'	'	'	6	'
Fair value of hedge, assets	'	'	'	'	'	'	'	1,564,000	'	'	'
Gain (loss) on cash flow hedge, ineffective portion	'	'	'	'	'	'	'	0	'	0	'
Gains or losses recorded to accumulated other comprehensive loss reclassified to earnings	236,858,000	199,043,000	687,367,000	600,582,000	0	'	'	'	'	'	'
Effects of Change in Interest Rates	'	'	'	'	'	'	'	'	'	'	'
+50 Basis Points	'	'	'	'	'	1,442,000	404,000	3,038,000	'	-580,000	'
-50 Basis Points	'	'	'	'	'	-1,455,000	-379,000	-2,902,000	'	123,000	'
+100 Basis Points	'	'	'	'	'	2,890,000	796,000	6,008,000	'	-932,000	'
-100 Basis Points	'	'	'	'	'	($2,904,000)	($770,000)	($5,872,000)	'	$475,000	'

Impairments_Details

Impairments (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Sep. 30, 2012
			Poway, CA property	Poway, CA property
			sqft	Land
				acre
Impairments	'	'	'	'
Area under expanded tenant relationship (in square feet)	'	'	396,000	'
Area of lease extension (in square feet)	'	'	281,000	'
Real estate lease term	'	'	'10 years	'
Area of building to be developed (in square feet)	'	'	115,000	'
Land acquired (in acres)	'	'	'	19
Sales price of parcel	'	'	'	$19,000,000
Impairment related to parcel of land	'	'	'	7,900,000
Carrying value, land	$1,841,333,000	$1,833,607,000	'	$27,000,000

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent event, Former Chairman, Chief Executive Officer and President, USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013
Subsequent event | Former Chairman, Chief Executive Officer and President	'	'
Subsequent Events	'	'
Severance-related charges	$26.40	$26.40
Accelerated deferred compensation on termination	16.7	16.7
Severance payments and other costs	$9.70	$9.70