| Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table illustrates the computation of basic and diluted earnings per share (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | | Numerator - Basic | | | | | | | | | Net income (loss) | $ | 39,019 | | | $ | 152,716 | | | $ | 89,083 | | | $ | 163,893 | | | Noncontrolling interests’ share in earnings | (7,346) | | | (6,669) | | | (14,582) | | | (11,170) | | | Net income (loss) attributable to Healthpeak Properties, Inc. | 31,673 | | | 146,047 | | | 74,501 | | | 152,723 | | Less: Participating securities’ share in earnings | (115) | | | (214) | | | (579) | | | (414) | | | Net income (loss) applicable to common shares | $ | 31,558 | | | $ | 145,833 | | | $ | 73,922 | | | $ | 152,309 | | | | | | | | | | | Numerator - Dilutive | | | | | | | | | Net income (loss) applicable to common shares | $ | 31,558 | | | $ | 145,833 | | | $ | 73,922 | | | $ | 152,309 | | | Add: distributions on dilutive convertible units and other | — | | | 71 | | | — | | | 36 | | | Dilutive net income (loss) available to common shares | $ | 31,558 | | | $ | 145,904 | | | $ | 73,922 | | | $ | 152,345 | | | Denominator | | | | | | | | | Basic weighted average shares outstanding | 695,188 | | | 702,382 | | | 697,117 | | | 651,642 | | Dilutive potential common shares - equity awards(1) | 6 | | | 135 | | | 29 | | | 157 | | | | | | | | | | Dilutive potential common shares - OP Units(2) | — | | | 751 | | | — | | | 314 | | | | | | | | | | | | | | | | | | | Diluted weighted average common shares | 695,194 | | | 703,268 | | | 697,146 | | | 652,113 | | | Earnings (loss) per common share | | | | | | | | | Basic | $ | 0.05 | | | $ | 0.21 | | | $ | 0.11 | | | $ | 0.23 | | | Diluted | $ | 0.05 | | | $ | 0.21 | | | $ | 0.11 | | | $ | 0.23 | |
_______________________________________ (1)For all periods presented, represents the dilutive impact of 1 million outstanding equity awards (restricted stock units and stock options). (2)For each of the three and six months ended June 30, 2025, represents the dilutive impact of 4 million outstanding OP Units. For each of the three and six months ended June 30, 2024, represents the dilutive impact of 3 million outstanding OP Units.
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